2013 AnnuAl RepoRt - Australian Grand Prix

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Notes to and Forming Part of the Financial Statementsfor the Financial Year Ended 30 June 2013(c) Other transactions of Responsible Persons and their related entitiesDuring the financial year, in respect of the Formula One Grand Prix and the Motorcycle GrandPrix, the Corporation entered into the following types of transactions with entities of whichResponsible Persons of the Corporation are Directors, and entities related to Responsible Personsincluding entities under the significant influence or control of people directly related to theResponsible Persons:Ticket Sales (Corporate Hospitality / Grandstand / General Admission)Qantas Airways Limited (Ken Ryan, James Strong)Urban Maintenance Systems Pty Ltd (son of Ronald Walker AC CBE is a director of UrbanMaintenance Systems Pty Ltd)Sponsorship ArrangementsQantas Airways Limited (Ken Ryan, James Strong)Provision of ServicesQantas Airways Limited (Ken Ryan, James Strong)Urban Maintenance Systems Pty Ltd (son of Ronald Walker AC CBE is a director of UrbanMaintenance Systems Pty Ltd)The above transactions were entered into under normal trading terms and conditions. Pursuant toapproval obtained under section 47(1) of the Financial Management Act (1994), the Corporationis exempt from disclosing the aggregate amount of transactions with related entities.A total of 857 tickets (retail value: $617k exc GST) for the 2013 Formula One Grand Prix (2012: 747tickets) and 134 tickets (retail value: $35k exc GST) for the 2012 Motorcycle Grand Prix (2011: 99tickets) were either used by Responsible Persons free of charge or were provided to entitiesrelated to Responsible Persons under contractual obligation.Australian Grand Prix Corporation Annual Report 2013 6161
Notes to and Forming Part of the Financial Statementsfor the Financial Year Ended 30 June 201322. Executive Officer RemunerationThe number of executive officers, other than ministers and accountable officers, and their baseremuneration during the period are shown in the first two columns in the table below in therelevant income bands. The total remuneration of executive’s officers is shown in the third andfourth columns. Total remuneration includes bonuses. The total annualised employee equivalentprovides a measure of full-time equivalent executive officers over the reporting period.Base Remuneration Total Remuneration2013 2012 2013 2012No. No. No. No.$260,000 - $269,999 - - 2 -$250,000 - $259,999 - - - 1$240,000 - $249,999 - - - 1$230,000 - $239,999 - - 1 -$220,000 - $229,999 2 2 - -$210,000 - $219,999 - - 1 1$200,000 - $209,999 1 - 1 1$190,000 - $199,999 1 1 1 1$180,000 - $189,999 1 - - -$170,000 - $179,999 1 2 - -$160,000 - $169,999 - - 1 1$150,000 - $159,999 1 - - -$140,000 - $149,999 - - 1 -$130,000 - $139,999 - 1 - 1$120,000 - $129,999 1 - - -$110,000 - $119,999 - 2 - 2$100,000 - $109,999 - 1 - -Total remuneration of executive officers forthe year included above amounted to $1,494,442 $1,468,725 $1,678,430 $1,644,462Number of Executives8 9 8 9Total annualised employee equivalent(AAE) ** 7.6 8.5 7.6 8.5** Annualised employee equivalent is based on working 38 ordinary hours per week over the reporting period.23. SuperannuationEmployees of the Corporation are entitled to receive superannuation benefits. Superannuationcontributions are included as part of employee benefits in the comprehensive operatingstatement of the Corporation.Contributions were made on behalf of employees to IOOF Superannuation (the Corporation’semployer nominated fund). These contributions are based on the requirements of theSuperannuation Guarantee (Administration) Act 1992 and its regulations. This fund is anaccumulation type fund. The Corporation therefore has no exposure to any unfunded liabilities.Contributions amounting to $182,580 (2012: $190,661) were made to the fund by the Corporationduring the year, this was in accordance with the statutory superannuation contribution rate of 9%(2012: 9%). There were no amounts owing at the end of the year. The total number of currentemployees in the fund at 30 June 2013 was 27 (2011: 23).Contributions were also made to 24 other eligible superannuation funds where employeesexercised a choice of fund. Contributions amounting to $407,682 (2012: $358,470) were made tothese funds by the Corporation during the year. This was in accordance with the statutory6262Australian Grand Prix Corporation Annual Report 2013
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2013AnnualReport
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1. Report of the ChairmanThe Austra
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The inaugural Grand Prix Breakfast
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2. General Informationa. Introducti
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• Build positive event brand perc
Page 12 and 13: Reporting & Consultative Structure
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Page 22 and 23: e. Victorian Industry Participation
Page 24 and 25: Disclosures under the Whistleblower
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2013 AnnuAl RepoRt - Australian Grand Prix

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