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Music Chamber Festival of

Australian

Annual Report 2016

Our mission is to:

Deliver an international chamber music festival and related experiences to Townsville.

Enrich the cultural life of North Queensland; and

Create compelling reasons for diverse audiences to visit from across Australia and around the world.

We aim to enrich lives, educate and excite people about chamber music by presenting great artists in

innovative and creative programming.

We value:

Artistic Integrity

Engagement

Education

Professionalism

Openness

Accountability

Our Strategic Objectives are to:

Create a unique festival experience

Educate and enrich key stakeholders from artists and audiences to sponsors and supporters.

Grow and diversify our audiences

Increase consumer awareness and Festival audience through effective marketing and communications and innovative music programs of a broad repertoire that appeal to a wide audience.

Secure long-term sustainability

Maintain a sound business model and operating system that guarantees future financial stability and a successful

artistic programme

CHAIR’S MESSAGE

The 2016 Australian Festival of Chamber Music was an important landmark. We celebrated the 10th anniversary of Artistic Director, Piers Lane AO, with a special commission from composer, Elena Kats-

Chernin, who we surreptitiously spirited into Townsville to play Tropical Nights as an expression of our appreciation to a delighted Piers, on the final night of the Festival. While the 2016 Festival was an outstanding success – indeed, many patrons rated it the best ever – in an operational sense, we continue to battle a number of significant obstacles. Government funding remains difficult to obtain, and continuing economic uncertainty saw donations drop. We responded by raising ticket prices, and as a result, box office revenue was up. We recognize that this is not something we can do every year, and your Board has been much pre-occupied with financial matters this year. We have established a Development Committee, chaired by Board member Marjorie Nicholas AM, to create and implement a plan to increase both philanthropic and corporate donations into the future.

Progress towards a home of our own remains agonizingly slow. We are confident that the Townsville City Council will continue to work towards providing us with an appropriate venue, but the planned closure of the Civic Centre for a major re-furbishment in 2018 is worrisome. Plans for the 2017 Festival are well advanced, and we anticipate that many of our regular patrons will be in Townsville to farewell our much-loved Artistic Director, Piers Lane AO, at the end of his distinguished tenure, and to welcome incoming Artistic Director, Katherine Stott as a performer at this year’s Festival. The small-to-medium arts sector faces many challenges, particularly in regional Australia, but we face the future with confidence, grateful for the ongoing support of our many sponsors and donors, and particularly appreciative of the work of our dedicated team here in Townsville, ably led by Executive Director, Justin Ankus. My personal thanks also to my board colleagues. The commitment of your time, energy and wisdom are much valued by me. Sandra Yates AO Chair

EXECUTIVE DIRECTORS REPORT

It is my great pleasure to present to you my second annual report, albeit a report on my first festival. This year, like most, brought with its fair share of challenges, but I am pleased that many have acclaimed it as the best

festival ever. This year, Piers once again provided us with a delightful and engaging line-up of artists, coupled with a mixture of both familiar and challenging programming. Every year we seek your feedback. We review this feedback closely and respond as best we can. Thus we were pleased to again present the Queens Gardens Concert in conjunction with Townsville City Council and a few days later return to Orpheus Island. We also made some changes to the presentation of the Concert Conversations. Many of you responded positively to these changes and provided us with some further feedback. We will be making further small changes to the format in 2017. The Winterschool grew again this year both in participant number and audience numbers. I am delighted that our audience is keen to support these emerging musicians. I feel assured that the future of chamber music will be safe in their hands. We will be moving the Winterschool Masterclasses to a new venue in 2017 to cater for these growing numbers. Financially, this year saw us reach record attendance levels with 16,509 attendees over the nine days. This also helped us achieve a record box office of just over $550,000, although some of this came from increased ticket prices. The box office counts for just under half of our annual income. I am pleased to report that our funding from Townsville City Council and Arts Queensland were both renewed and increased. Funding from Tourism and Events Queensland was also renewed albeit at lower levels. Our several attempts to secure further funding from the Commonwealth from both the Australia Council and The Ministry of the Arts through their Catalyst Fund through the year were unsuccessful. As a result, total government

funding for 2016 fell by 44% on 2015. I should note that 2015 was an unusual year in that we had secured additional government funding as part of our 25th Anniversary celebrations. Comparing government funding against 2014 levels, we still see funding falling by 20%. In line with difficult economic conditions, cash sponsorship fell by 4% on 2015 and 10% on 2014. I am pleased to report that while total donations (including Artist Support) decreased from 2015 by 36% they increased on 2014 levels by 17%. In summary revenue generation remains a significant challenge in this climate. Even though we have reported a deficit for 2016, the majority of this deficit stems from monies received through the Creative Partnerships Australia “Plus 1” fund in 2015 but only spent in 2016. From an ongoing operational point of view, the deficit is significantly smaller than reported in the accounts. That said we know that government funding will decrease further in 2017 and thus are pulling out all stops to secure other sources of revenue to help ensure a similar result for next year. Throughout 2016 we worked closely with Council and various proponents on the Expression of Interest (EOI) Council issued for the construction of new cultural facilities including a new concert hall for Townsville. Whilst the council terminated the EOI in December, they have indicated they are still committed to building new facilities and to that end, have engaged Pure Project to consult with the community. I am pleased that my team and I in conjunction with our Artistic Director have been able to deliver another successful festival for you, our members and patrons. It will be a hard act to follow, but I believe that we can deliver an even better festival in 2017 and are pulling out all stops to make it so. Justin P. Ankus Executive Director

2016 PROGRAM Day 01: Friday 29/07 8:00PM James Cook University Opening Night Concert - The Trout Townsville Civic Theatre RAVEL String Quartet in F major Tinalley String Quartet CHOPIN Piano Concerto in e minor Op 11 Sa Chen (piano), Goldner String Quartet, Kirsty McCahon (double bass) INTERVAL MOZART/M HAYDN Romance for Horn and String Quartet Hervé Joulain (horn), Goldner String Quartet SCHUBERT Piano Quintet in A major D667 (Trout) Finghin Collins (piano), Tasmin Little (violin), Paul Silverthorne (viola), Wolfgang-Emanuel Schmidt (cello), Kirsty McCahon (double bass)

Day 02: Saturday 30/07 10:00AM Concert Conversations with Piers Lane 1 C2, Townsville Civic Theatre Piers chats with Finghin Collins, Nick Deutsch, Tasmin Little and Paul Silverthorne. KLUGHARDT Five Schilflieder Op 28 Nick Deutsch (oboe), Paul Silverthorne (viola), Finghin Collins (piano) SZYMANOWSKI Sonata for Violin and Piano in d minor Op 9 Tasmin Little (violin), Piers Lane (piano)

2:30PM Families’ Concert – The Happy Prince Townsville Civic Theatre MALCOLM WILLIAMSON The Happy Prince Directed by Tama Matheson Conducted by Julia de Plater Chorus Master Anne Milanovic Valda Wilson as the Sparrow Tinalley String Quartet, Kirsty McCahon (Double Bass), Andrew West (piano), Timothy Young (piano), Claire Edwardes (percussion), Ian Brunskill (percussion)

8:00PM Governor’s Gala - The Surprise! Townsville Civic Theatre RAVEL Chansons madécasses Roderick Williams (baritone), Bridget Bolliger (flute), Trey Lee (cello), Andrew West (piano) PAUL STANHOPE Three Lorca Songs Valda Wilson (soprano), Indira Koch (violin), Wolfgang-Emanuel Schmidt (cello), Timothy Young (piano) THE SURPRISE A short recital by the winner of the Sydney International Piano Competition INTERVAL MENDELSSOHN Octet in E flat major Op 20 Goldner String Quartet, Tinalley String Quartet

Day 03: Sunday 31/07 11:00AM Prayer and Dance Mary MacKillop Church MOZART Divertimento in E flat major K 563 Indira Koch (violin), Paul Silverthorne (viola), Wolfgang-Emanuel Schmidt (cello) ROSS EDWARDS Marimba Dances Claire Edwardes (percussion) SARAH HOPKINS Journey to the East for solo Double Bass and Percussion Kirsty McCahon (Double Bass), Claire Edwardes (percussion) MATTHEW HINDSON Flash Claire Edwardes (percussion) CASSADÓ From Suite for solo cello Preludio – Fantasia Intermezzo e danza finale Trey Lee (cello) STANHOPE Nephesh (‘Prayer’ and ‘Dance’) Goldner String Quartet, Tinalley String Quartet, Kirsty McCahon (double bass)

3:00PM Queens Gardens Concert – The 1812 again! FREE EVENT Queens Gardens Hosted by Steve ‘Pricey’ Price and Piers Lane, AO GLENN ROGERS Federation Fanfare 1RAR VON SUPPÉ Light Cavalry: Overture

DAVID SALISBURY Queens Gardens DELIBES Les filles de Cadix Barrier Reef Orchestra BILLY PRESTION/BRUCE FISHER ARR, GLENN ROGERS You are Beautiful to Me MAYNARD FERGUSON ARR. PETER BLAIR Cruisn’ for a Bluesn’ LEONARD BERSTEIN ‘Somewhere’ from Westside Story OTIS REDDING Respect 1RAR BAND, Condutor: Glenn Rogers VERDI Sempre Libera from La Traviata Valda Wilson (soprano), Barrier Reef Orchestra JOHN WILLIAMS Theme from Schindler's List VIVALDI Spring from The Four Seasons Tasmin Little (violin), Barrier Reef Orchestra TCHAIKOVSKY 1812 Overture, Op.49 Barrier Reef Orchestra, 1RAR Band Audience participation instead of cannon fire!

5:00PM AFCM Winterschool - Young String Ensemble Performance FREE EVENT Perc Tucker Regional Gallery

7:30PM Concert Crawl Program 1: Dancenorth The Three Dancers Composed by Elena Kats-Chernin Choreographed by Lee Serle Program 2: Perc Tucker Regional Gallery DRING Trio for flute, oboe and piano Bridget Bolliger (flute), Nick Deutsch (oboe), Sa Chen (piano) HARTMANN Serenade in A major Op 24 Ensemble Liaison Program 3: Masonic Hall BEETHOVEN String Quartet No 16 in F major Op 135 Goldner String Quartet

Day 04: Monday 01/08 10:00AM Concert Conversations with Piers Lane 2 C2, Townsville Civic Theatre Piers chats with Bridget Bolliger, Paul Stanhope, Timothy Young, Andrew West and Kirsty McCahon LUCIANO BERIO Psy for solo Doublebass MONTEVERDI ARR. STANHOPE Dolcissimo Usignolo for Soprano and Piano Trio Valda Wilson (soprano), Adam Chalabi (violin), Trey Lee (cello), Timothy Young (piano) STANHOPE Piano Trio “Dolcissimo Uscigolo” Adam Chalabi (violin), Trey Lee (cello), Timothy Young (piano) MIRIAM HYDE

Dancing Shadows Sonata in g minor STANHOPE Phospheric Variations MIRIAM HYDE Dryad’s Dance Bridget Bolliger (flute), Andrew West (piano)

1:00PM AFCM Winterschool - Advanced Public Masterclass 1 FREE EVENT Perc Tucker Regional Gallery

5:30PM Ray Golding Sunset Series – The Winner Takes It All Townsville Civic Theatre BEETHOVEN Sonata No 9 in A major Op 47 (Kreutzer) NIKOLAI MEDTNER Sonata for Piano Op 53 – Romantica MILY BALAKIREV Islamey, Op.18

8:00PM Evening Series - Winter Journey Townsville Civic Theatre SCHUBERT Notturno Tasmin Little (violin), Trey Lee (cello), Finghin Collins (piano) The Fatal Chance Devised by Sean Street and Robert Murray Featuring Schubert’s Winterreise and readings from Scott of the Antarctic’s diary Roderick Williams (baritone), Andrew West (piano), Brendan O’Connor (narrator)

Day 05: Tuesday 02/08 2:00PM Orpheus Island Concert Depart SeaLink Breakwater Ferry Terminal Travel by ferry to Orpheus Island enjoying canapés on the way, dinner on the return and a poetic beach concert in between. Simply exquisite! Program to include: Roderick Williams sings songs associated with the sea. FREDERIC RZEWSKI To the Earth ROBERTO SIERRA Bongo-O Claire Edwardes (percussion) BARBER Summer Music IBERT Three Short Pieces for Woodwind Quintet Bridget Bolliger (flute), Nick Deutsch (oboe), David Griffiths (clarinet), Andrew Barnes (bassoon), Hervé Joulain (horn)

Day 06: Wednesday 03/08 10:00AM Concert Conversations with Piers Lane 3 C2, Townsville Civic Theatre Piers chats with Svetlana Bogosavljevic, Sa Chen, David Griffiths, Indira Koch and Wolfgang-Emanuel Schmidt. MAHLER Piano Quartet in a minor Sa Chen (piano), Indira Koch (violin), Paul Silverthorne (viola), Wolfgang-Emanuel Schmidt (cello) BRAHMS Trio for Clarinet, Cello and Piano in a minor Op 114 Ensemble Liaison

1:00PM AFCM Winterschool – Concert Conversations with Piers Lane C2, Townsville Civic Theatre

5:30PM Ray Golding Sunset Series - Bach by Candlelight 1 Townsville Civic Theatre Sonata in E major BWV 1035 Bridget Bolliger (flute), Julian Smiles (cello), Neal Peres da Costa (harpsichord) Ich habe genug BWV 82 Roderick Williams (baritone), Nick Deutsch (oboe), Dene Olding (violin), Dimity Hall (violin), Irina Morozova (viola), Trey Lee (cello), Kirsty McCahon (double bass), Neal Peres da Costa (harpsichord) Concerto for Two Violins in d minor BWV 1043 Tasmin Little (solo violin), Indira Koch (solo violin), Adam Chalabi (violin), Elizabeth Sellars (violin), Dimity Hall (violin), Michele Walsh (violin), Paul Silverthorne (viola), Caroline Henbest (viola), Wolfgang-Emanuel Schmidt (cello), Svetlana Bogosavljevic (cello), Kirsty McCahon (double bass), Neal Peres da Costa (harpsichord)

8:00PM Evening Series - Bach by Candlelight 2 Townsville Civic Theatre Partita No 1 in B flat major BWV 825 Finghin Collins (piano) Cantata: Mein Herze schwimmt im Blut BWV 199 Valda Wilson (soprano), Nick Deutsch (oboe), Adam Chalabi (violin), Elizabeth Sellars (violin), Paul Silverthorne (viola), Wolfgang-Emanuel Schmidt (cello), Kirsty McCahon (double bass), Andrew Barnes (bassoon), Neal Peres da Costa (harpsichord) INTERVAL

Fugue in a minor BWV 1000 Karin Schaupp (guitar) Prelude and Fugue Bk 2 no. 16 in g minor BWV 885 Prelude and Fugue Bk 2 no. 1 in C Major BWV 870 Prelude and Fugue Bk 2 no. 12 in f minor BWV 881 Neal Peres da Costa (harpsichord) Brandenburg Concerto No 3 in G major BWV 1048 Dene Olding (violin), Dimity Hall (violin), Tasmin Little (violin), Irina Morozova (viola), Paul Silverthorne (viola), Caroline Henbest (viola), Julian Smiles (cello), Trey Lee (cello), Wolfgang-Emanuel Schmidt (cello), Kirsty McCahon (double bass), Neal Peres da Costa (harpsichord)

Day 07: Thursday 04/08 10:00AM Concert Conversations with Piers Lane 4 C2, Townsville Civic Theatre Piers chats with Karin Schaupp, Valda Wilson and Ian Brunskill. PETER MAXWELL DAVIES Renaissance Scottish Dances Dene Olding (violin), Julian Smiles (cello), Karin Schaupp (guitar), Bridget Bolliger (flute), David Griffiths (clarinet), Ian Brunskill (percussion) JENNIFER FOWLER Letter from Haworth Valda Wilson (soprano), Ensemble Liaison MARK SAYA Suo Gan Valda Wilson (soprano), Andrew West (piano) McCABE Three Folk Songs Op 19 Johnny was gone for a Soldier Hush-a-ba, Birdie, croon, croon John Peel Valda Wilson (soprano), David Griffiths (clarinet), Andrew West (piano)


5:30PM Ray Golding Sunset Series – All 5’s and 6’s! Townsville Civic Theatre FAURÉ Quintet for Piano and Strings No 1 Op 89 in d minor Finghin Collins (piano), Goldner String Quartet DOHNÁNYI Sextet in C major Op 37 Elizabeth Sellars (violin), Caroline Henbest (viola), Ensemble Liaison, Hervé Joulain (horn)

8:00PM Evening Series - Viennese Classics Townsville Civic Theatre BEETHOVEN 12 Variations on ‘See the conqu’ring Hero Comes’ from Handel’s Judas Maccabeus WoO 45 Trey Lee (cello), Andrew West (piano) HAYDN ‘Guitar’ Quartet Op 2 No 2 Karin Schaupp (guitar), Adam Chalabi (violin), Caroline Henbest (viola), Wolfgang-Emanuel Schmidt (cello) MAHLER arr. Griffiths/Young Rückert Lieder Roderick Williams (baritone), Elizabeth Sellars (violin), Ensemble Liaison INTERVAL SCHREKER Der Wind Indira Koch (violin), Svetlana Bogosavljevic (cello), David Griffiths (clarinet), Hervé Joulain (horn), Andrew West (piano)

BRAHMS Piano Quartet No 1 in g minor Op 25 Sa Chen (piano), Indira Koch (violin), Paul Silverthorne (viola), Wolfgang-Emanuel Schmidt (cello)

Day 08: Friday 05/08 10:00AM Concert Conversations with Piers Lane 5 C2, Townsville Civic Theatre Piers chats with Hervé Joulain, Trey Lee and Roderick Williams. ESA-PEKKA SALONEN Concert Etude for Solo Horn Hervé Joulain (horn) SCHUBERT Allegro moderato from Sonata in a minor for Arpeggione and Piano D821 Trey Lee (cello), Karin Schaupp (guitar) REINECKE Trio for Piano, Oboe and Horn Op 188 Nick Deutsch (oboe), Hervé Joulain (horn), Finghin Collins (piano)


3:00PM Gold Pass Event Dancenorth As Artistic Director and Chairman of the Jury, Piers Lane chatted about his restructuring and modernising of the Sydney International Piano Competition and behind-the-scenes at the event itself. He will also talk to Sa Chen, one of the jury members, about her experience there, and to Tasmin Little and the Goldner String Quartet, who each played chamber music with six semi-finalists.

5:30PM Ray Golding Sunset Series – A Touch of Klezmer St Joseph’s Church RAVEL Sonata for violin and cello M.73 Indira Koch (violin), Wolfgang-Emanuel Schmidt (cello) OSVALDO GOLIJOV Dreams and Prayers of Isaac The Blind David Griffiths (clarinet), Adam Chalabi (violin), Elizabeth Sellars (violin), Caroline Henbest (viola), Svetlana Bogosavljevic (cello)

8:00PM Evening Series - Op 127! Townsville Civic Theatre SCHUBERT 20 Waltzes (‘Last Waltzes’) Op 127 D146 Finghin Collins (piano), Andrew West (piano), Sa Chen (piano), Timothy Young (piano), Piers Lane (piano) SCHUMANN 5 Lieder und Gesänge Op 127 Roderick Williams (soprano), Andrew West (piano) SHOSTAKOVICH Seven Romances on Poems by Alexander Blok Op 127 Valda Wilson (soprano), Adam Chalabi (violin), Trey Lee (cello), Sa Chen (piano) INTERVAL BEETHOVEN String Quartet No 12 in E flat major in Op 127 Goldner String Quartet

Day 09: Saturday 06/08 10:00AM Concert Conversations with Piers Lane 6 C2, Townsville Civic Theatre Piers chats to the Goldner String Quartet and Andrew Barnes. STANHOPE String Quartet No 3 Goldner String Quartet BEETHOVEN Quintet for Piano and Winds Op 16 Nick Deutsch (oboe), David Griffiths (clarinet), Hervé Joulain (horn), Andrew Barnes (bassoon), Finghin Collins (piano)

1:00PM AFCM Winterschool - Advanced Concert FREE EVENT C2, Townsville Civic Theatre

2:30PM Don Juan Townsville Civic Theatre Karin Schaupp (guitar), Tama Matheson (narrator)

8:00PM Festival Farewell Townsville Civic Theatre HANDEL/HALVORSEN Passacaglia for violin and viola Indira Koch (violin), Wolfgang-Emanuel Schmidt (cello) MENDELSSOHN arr. WILLIAMS Im Frühling Op 9/4 (C major) Im Herbst Op 9/5 (e minor) Neue Liebe Op 19/4 (in d minor)

Bei der Wiege Op 47/6 (B flat major) Nachtlied Op 71/6 (D flat major) Frühlingslied Op 71/2 (F major) Roderick Williams (baritone), Goldner String Quartet DAVE BRUBECK Points on Jazz Finghin Collins (piano), Piers Lane (piano) INTERVAL BARRIERE Sonata for two cellos No 10 in G major Wolfgang-Emanuel Schmidt (cello), Trey Lee (cello) KREISLER Praeludium and Allegro WILLIAM LLOYD WEBBER Gardens at Eastwell MONTI Czardas Tasmin Little (violin), Piers Lane (piano) GERSHWIN/FROLOV Concert Fantasy on Themes from Gershwin’s Porgy and Bess Ensemble Liaison CZERNY Variations on Mozart Arias Sa Chen (piano), Andrew West (piano), Timothy Young (piano) TCHAIKOVSKY arr. WILLIAMS Final Scene from Eugene Onegin Valda Wilson (soprano), Roderick Williams (baritone), Goldner String Quartet, Bridget Bolliger (flute), Nick Deutsch (oboe), David Griffiths (clarinet), Andrew Barnes (bassoon) A SURPRISE!

A surprise item to end the Festival, involving all remaining AFCM artists still standing!

Goals KPIs 2014

Actual

2015

Actual

2016

Actual

Change

on 2015

1 Grow and diversify

our audiences - increase

consumer awareness

and Festival audience

through effective

marketing and

communications

Increase attendance, as measured by box

office income by at least 3% each year

$503,899 $534,602 $550,474 3%

Achieve an 8% increase in total visitor nights

each year

15,158 27,001 27,958 4%

Grow the Festival Friends database by 20%

in 2014, and 10% each year thereafter

3,668 4,500 3,880 -14%

2 Create a unique

festival experience –

create a unique Festival

experience for

everyone, from artists

to audiences, sponsors

and supporters

Create an annual Artistic Plan that continues

to deliver high-quality programming

Annual Annual Annual -

Ensure at least one-third of artists each year

are from overseas

33% 36% 32% -11%

Include at least one event that caters to light

classical music consumers and/or holiday

makers

3 3 3 -

Improve response rates for the annual

audience survey by 5% and maintain an

overall satisfaction rating of 90% or higher

420

responses

97%

satisfaction

398

responses

94.5%

satisfaction

552

responses

97%

satisfaction

39%

Include one event that caters to schools,

families and the local community

2 2 2 -

Increase Winterschool attendance by 10%

each year

24 29 36 24%

3 Long-term

sustainability – maintain

an operational and

financial structure that

guarantees future

stability and success

Achieve a 10% increase in income from

donors and sponsors (excludes In-Kind and

Future Fund)

166,342 225,605 221,815 -1.7%

Identify and apply for one new trust or

foundation grant each year

3 1 0 -100%

Establish AFCM Future Fund and set annual

targets for AFCM surplus and philanthropic

donations

247,880 264,192 273,342 4%

Implement annual performance appraisals

for all staff

Yes Yes Yes

Annual planning session with Board & Staff

that includes reviewing 2 organisational

policies or systems each year

Capacity

building/com

munity

engagement

3 Year

Strategic

Planning/

Governance

review

Artistic

Renewal

FINANCIAL OVERVIEW

Government Funding32%

Ticket sales42%

Membership Fees3%

Marketing Income1%

Sponsorship5%

Revenue ‐ In kind9%

Donations8%

Income

Artist Fees17%

Artists Travel10%

Score Hire/ Royalties1%

Venue Hire2%

Front of House Staff1%

Technical and Production Staff4%

Equipment Hire and Freight4%

Transport2%

Event Catering3%

Box Office2%

Salaries and On-Costs30%

Governance Expenses and Staff Travel2%

Marketing15%

Sponsorship and Fundraising1%

Office Costs5%

Finance, Insurance and Legal2%

Expenses

AFCM FUTURE FUND Founding Donors acknowledged in perpetuity ($1,000 or more donated in 2013) Dr Nita Vasilescu Mr Joe Tapiolas (Parkside Group) Sandra Yates AO and Mr Michael Skinner Jennifer Bott AO Sue Hackett Gioconda Augimeri and Rosemary Prior Townsville Bulletin The Hon. Jane Mathews AO Robyn McGuiggan and Karl Scholl Crystal Clear PR and Marketing Andrew Andersons AO Mr Alan and Mrs Bea Duncan in memory of our mothers, Mollie and Letitia. Edward M Jackes OAM and Prof Betsy Jackes Martin Dickson AM and Susie Dickson Ms J Wran Mr and Dr I and S Meade Robert Monteith QC Mrs Roslyn Carter Dr J R Hazel Elizabeth Clark Lady Adrienne Stewart Mrs Sheila Bignell

Dene Olding and Irina Morozova Tom and Ruth O'Dea Wilson Ryan Grose Lawyers David Kippin Jan and David Robinson Bronwyn and Chris Smalley Piers Lane AO Michael and Carmel Fellows Elisabeth McDonald Claire Roberts and Nicholas Jose Lesley and Peter Davies James Cook University Paul and Fiona Pagliano Sir Michael Curtain Dr Di Bresciani Terry Dodd Peter de Jersey AM and Beverley de Jersey Marg O'Donnell and Martin Moynihan Robert Jones Dr Cyril Curtain In memory of Betty Curtain John and Annette Zabala David Low and Julieanne Cox Belinda Kendall-White Rita Avdiev Frank and Beverley Osborn

M.M. Goodman Dick and Mary Gibberd Annie Hawker Senator Claire Moore John and Maree Binder Tanya Geha in memory of Prof Ray Golding Willy Rombout Katherine and Warwick McEwan Lesley and Geoff Haussmann Marjorie and Hilton Nicholas, Catherine McPherson, Gregory McPherson Bruce and Lyn Bowman Steven and Janelle Lun A B A Matthews in memory of Mrs Shirley Schmidt and all Teachers of Music in Dry Tropical Qld Fiona & Andrew Johnston Eva Sweet Cameron Williams Prof Andrew Vann Maryanne Smith Rosalind Strong Sealink Townsville Anonymous (7)

FUTURE FUND DONORS 2016 Andrew Andersons, AO David and Helena Cassells Justice Jane Mathews

Mr David and Mrs Jan Robinson Willy Rombout Roger Salkeld

Sandra Yates, AO and Michael Skinner Anonymous (3)

DONORS IN 2016 GENERAL DONORS (over $200) Ms Polly Adams Ms Robyn Amm AM Mr Derek Watt and Ms Catherine Brown-Watt Mr David and Mrs Helena Cassells Dr Cyril Curtain in memory of Betty Curtain Dr Peter Hales Dr Betsy Jackes Dr Kay Jaumees Mr Robert Langdon Mr Richard Lee

Ms Anne Matthews in memory of Shirley Schmidt & music teachers in dry tropical Qld. Mr Russell Mitchell Pacific Marine Group Pty Ltd Mrs Betty Rankin Dr Frank and Ms Judith Robertson in memory of Katherine Robertson Mrs Heather Robertson Mr Willy Rombout Mr Roger Salkeld Mr Karl Scholl & Ms Robyn McGuiggan

Mrs Gwen Small Dr Robert Steele Mrs Ruth (Waveney) Stratton Mr Matthew Toohey Mrs Margaret Treadwell Dr Clive Wilkinson Ms Janet Williams Dr Margot Woods Ms Sandra Yates AO and Mr Michael Skinner Anonymous (3)

ARTIST SUPPORTERS Mr Stephen & Mrs Suzy Baines Dr Betty Byrne Henderson AM Dr Cyril Curtain Ms Margaret Epps Mr Michael and Mrs Carmel Fellows Mr Andrew Johnston & Mrs Fiona Johnston Ms Belinda Kendall-White

The Hon Jane Mathews AO Mr Garth Mansfield OAM and Mrs Margaret Mansfield OAM Mr Warwick McEwan Ms Diana McVeagh Mr Hilton Nicholas AM, OBE and Mrs Marjorie Nicholas OAM Mr Phillip Richards

Mr David & Mrs Jan Robinson Dr Nita Vasilescu Ms Denise Wadley Table 3 (Ms Sandra Yates AO & Mr Michael Skinner, Mr Kenneth Saxby, Dr Anne Tanner, Ms Maryanne Smith, Mr Roger & Mrs Ann Smith) Anonymous (4)

GOLD PASS HOLDERS 2016 Ion Alexander Jennifer Alexander Graeme Allen Janet Allen Robin Amm, AM Andrew Andersons, AO Stephen Baines Suzy Baines David Ball Patricia Elizabeth Ball Irene Barnes Paul Barnes Graham Bate David Beauchamp Graham Bennett Judy Bennett Sara Bennett Robyn Black Ioana Bowden Jan Bowen AM

Bruce Bowman Lyn Bowman Noelene Brasche Peter Brasche Beth Brown Joan Brown Paul Brown Graham Bruce Tom Bruce, AM David Caddy Robyn Caddy Roslyn Carter Carol Clark Elizabeth Clark Pip Clarke Richard Clarke Nancy Cole Christine Conquest John Conquest Lynne Conway

Gai Copeman Rosemary Crain Colleen Crampton Bruce Curl Cyril Curtain Christine Dagworthy Robert Dagworthy Geoffrey Dargie Melvyn Davis Penny Davis Beverley Kay de Jersey Peter de Jersey Margaret Denham David Dight Ros Dight Robyn Duff Alan Duncan Beatrice Duncan Helen Earlam Margaret Epps

Nigel Evans Rachel Faggetter Henry (Harry) Fels Margie Fels Philippa Fox Kenneth Charles Freeman Margaret Freeman Felicity Fullagar Gudrun Genee Eric Gilford Susanne Gilford Donald Gobbett Estelle Gobbett Meta Goodman Lorraine Gray-McConnell Peter Green Rosemary Halford Betty Hancock Claire Hanley Daniel Hardie Robyn Hardie Diane Hart Annie Hawker David Hay Beverley Hicks Betty Hill Brian Hill Barbara Jane Hirschfeld John Holmes Lyn Howden Mary Gwyn Hoy Richard Hoy Ralph Hunt David Ikin Joan Ikin Michael Jacobs Sheila Jacobs Mr Paul James Kay Jaumees Andrew Johnston Fiona Johnston Barry Jones Helen Jordan Leslie Kennedy Aviva Kipen Errol Kirke Leonie Kirke Phil Kreveld

Betty Kuhl Robert Langdon Richard Lee Janelle Lun Stacey Lun Steven Lun Tegan Lun John Lunghi Heather MacDonald Deborah MacFarlane Elizabeth MacFarlane Garth Mansfield Margaret Mansfield Jane Mathews AO Anne Matthews Marguerite May Virginia May Warwick McEwan Catherine McPherson Fiona McWhinnie Ann Mills Robert Mills Antony Morgan Peter Moylan Hilton Nicholas Marjorie Nicholas Brian O'Connor Jennifer O'Connor Ruth O'Dea Tom O'Dea Cynthia O'Keefe Dianne O'Toole Paul Pagliano Geraldine Paton Geraldine Paton Elizabeth Pender Di Pethrick Dawn Pettifer Lesley Player Roger Player Mary Pridmore Donald Quick Jean Quick Steve Quinlan Sue Quinlan Robin Rawson Ralph Renard Ruth Renard

Bronia Renison Noel Renouf Philip Richards Virginia Ridgley Heather Robertson David Robinson Jan Robinson Willy Rombout Alison Ross Annemarie Rutledge Helen Salkeld Roger Salkeld Noeline Sandblom Kenneth Saxby Ingrid Selene Jackie Simons Michael Skinner Des Sloman Chris Smalley Bronwyn Smalley Ann Smith Jane Smith Kym Smith Maryanne Smith Roger Smith Michael James Speers Gail Spira Arn Sprogis Patricia Stephenson Ruth Stratton Rosalind Strong Tony Strong Jane Sullivan Anne Tanner Barbara Tattam Wendy Taylor Elizabeth Thomas Graham Thomas Pamela Thomas Matthew Toohey Ian Underwood Margaret Ussher Nita Vasilescu Karen Venard Derris Vernon Gary Want Helene Wechsler Ian Wechsler

Heather Williams Janet Williams Margot Woods

Rosemary Wright Sandra Yates, AO Christopher Yeo

Sue Yeo

VOLUNTEERS 2016 Janet Askern Ava Ball Phillip Beard Linda Berger Jill Blaikie Linda Brierley Rebecca Brown James Browning Sabine Carter Taylor Chapman Anne Cole Jane Connell Gai Copeman Sarah Davis Judy de Loryn Marie De Monchaux Laurel Elliott Karen Glazebrook

Helen Mary Goldsworthy Damian Gough Lorraine Gray-McConnell Barbara Green Peter Griggs Eleanor Grove Sarah Hanrahan Timothy Honeyball Judy Hunter Bill Kennedy Paul Lucas Andrea Marian Simon McConnell Patricia NordineMario Parisi Elizabeth Pegg Melissa Pirard Clare Plant

Lesley Richards Kerry Seabourne Jenny Sebba Bronwyn Smalley Jan Stevens Mike Tanner Marisela Velazquez Margaret Wallen Bob Weir Sue Wilson Pia Woolf Florence Yates May Zaghini Bonnie Zaghini Enzo Zaghini

2016 GOVERNMENT PARTNERS

The Australian Festival of Chamber Music North Queensland Ltd is supported by the Queensland Government through Arts Queensland, part of the Department of Science, Information Technology, Innovation and the Arts

The Australian Festival of Chamber Music North Queensland Ltd is supported as a Major Event by Presenting Partner Tourism and Events Queensland

The Australian Festival of Chamber Music North Queensland Ltd is supported by Principal Partner Townsville City Council

2016 CORPORATE PARTNERS

Platinum Partners

Gold Partners

Silver Partners

Bronze Partners

AFCM BOARD AND STAFF Patron His Excellency, the Honourable Paul de Jersey AC AFCM Board Members Ms Sandra Yates, AO - Chair (Sydney) Mr Terry Dodd - Deputy Chair (Townsville) Mr Michael Fellows (Townsville) Prof Robyn McGuiggan (Townsville) Mr Russell Mitchell (Brisbane) Mrs Marjorie Nicholas (Melbourne) Ms Jane Seawright (Townsville) Mr Michael Wilkins (Sydney) Mr John Zabala (Townsville) (Retired Nov 2016) Finance Committee Mr John Zabala (Chair) (Retired Nov 2016) Prof David Low (Chair from Nov 2016) Ms Justin Ankus Ms Helen Hobbs Company Secretary Mr Justin Ankus

Artistic Director Mr Piers Lane AO Administration Executive Director – Justin Ankus Artistic Administrator - Rebecca Alferez Marketing Manager - Sheridan Helft Marketing & Events Executive - Amy Whebell Development Executive - Jane Cairns (Retired November 2016) Finance Manger – Helen Hobbs, FI: Business Support & Strategy 2016 Festival Team Production Manager – John Crawford Asst. Production Manager – Ryan Lower National Publicist – Kath Rose, Kath Rose and Associates NQ Publicist – Heidi Hatherell, Crystal Clear Public Relations Graphic Designer – Ty Bukewitsch, Envelope Group Winterschool Director – Michele Walsh Winterschool Young String Ensemble Workshop Convenor - Samuel Blanch Townsville Civic Theatre staff and crew Interns/ Work Experience James Cook University – Andrea Busiko, Emily Lawn, Kate Thomas Work Experience – Camille Catelan, Samuela Naborisi

AUSTRALIAN FESTIVAL OF CHAMBER MUSIC Level 1, Breakwater Terminal Sir Leslie Thiess Drive TOWNSVILLE QLD 4810 PO Box 5871 TOWNSVILLE QLD 4810 E: [email protected] P: 4771 4144 F: 4771 4122 W: www.afcm.com.au ABN 34 050 418 730 The Australian Festival of Chamber Music – North Queensland Limited (a company limited by guarantee) Trading as Australian Festival of Chamber Music

Australian Festival of ChamberMusic North Queensland LimitedABN: 34 050 418 730

Financial StatementsFor The Year Ended 31 December 2016

Australian Festival of Chamber Music North Queensland LimitedABN: 34 050 418 730

ContentsFor The Year Ended 31 December 2016

Page

Financial StatementsDirectors' Report 1Auditors Independence Declaration under Section 60-40 of the Australian Charities and Not for ProfitsCommission Act 2012 6Statement of Profit or Loss and Other Comprehensive Income 7Statement of Financial Position 8Statement of Changes in Equity 9Statement of Cash Flows 10Notes to the Financial Statements 11Directors' Declaration 17Independent Audit Report 18

Australian Festival of Chamber Music North Queensland Limited ABN: 34 050 418 730

Directors' Report31 December 2016

Your directors present their report on Australian Festival of Chamber Music North Queensland Limited for the yearended 31 December 2016.

1. General information

Directors

The names of the directors in office at any time during, or since the end of the period:Names PositionSandra Yates AO ChairTerry Dodd Deputy ChairMichael Fellows Non-Executive DirectorProfessor Robyn McGuiggan Non-Executive DirectorRussell Mitchell Non-Executive DirectorMarjorie Nicholas OAM Non-Executive DirectorJane Seawright Non-Executive DirectorMichael Wilkins Non-Executive Director

John Zabala

Non-Executive DirectorChairman of the Audit Compliance andRisk Management Committee Resigned 20 October 2016

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

Information on directors

Sandra Yates AO ChairExperience Has held significant appointments in media, marketing, publishing

and the arts. She was the chair of the NSW TAFE CommissionBoard (1998 – 2007), Chair of Sydney Writers’ Festival 2000 - 2011.Chairman of the advertising firm Saatchi & Saatchi Australia 1996 –2004. Publisher of Time magazine 1990 – 1993. President and CEOof Matilda Publications Inc. with her then business partner, Dr. AnneSummers, in New York in 1988. Past President of Chief ExecutiveWomen, and the YWCA of Sydney, and a former board member ofthe University of New South Wales Press, NSW Major Events Board,UNICEF, Musica Viva, and the Taronga Foundation. Past Presidentof the Magazine Publishers Association of Australia, and a formerdirector of the Magazine Publishers Association in the US. Ms Yatesis currently a director of Townsville Enterprise Limited

Terry Dodd Deputy ChairOther current directorships inlisted entities

Director of Sealink (formerly Sunferries) and owner and ManagingDirector of Pacific Marine Group.

Michael FellowsQualifications Bachelor of Laws, UQExperience Legal practitioner for over 30 years, now working in Townsville as a

Barrister at law, mediator and arbitrator.Deputy Chancellor of the Anglican Diocese of North Queensland;Cathedral Organist, St. James Cathedral, Townsville.

1



1. General information continued

Information on directors continued

Professor Robyn McGuigganQualifications BSc(hons,) MCom, PhD.Experience Professor McGuiggan is currently the Deputy Vice Chancellor, Global

Strategy and Engagement and was previously the Pro ViceChancellor of the Faculty of Law, Business & Creative Arts at JamesCook University (JCU). Prior to joining JCU, she was the ExecutiveDean of the College of Business and Head of the Sydney GraduateSchool of Management at the University of Western Sydney (UWS).Over her time at UWS she held a number of positions includingActing Associate Dean (Academic), Acting Head of the GraduateSchool, and prior to this, Director of Academic Programs and Qualityfor the Sydney Graduate School of Management where she wasresponsible for the Masters of Business Administration (MBA) both inSydney and overseas. Prior to joining UWS, Robyn was a seniorlecturer in the School of Marketing at the University of Technology,Sydney (UTS) and Head of the Marketing Department at Insearch.

Russell MitchellExperience General Manager of Opera Queensland with extensive experience in

the performing arts having held senior management positions atNIDA (National Institute of Dramatic Art), Opera Australia and StateOpera of South Australia. He is a former Chairman of Belvoir StreetTheatre Limited.

Marjorie Nicholas OAMQualifications LL.B (University of Melbourne)Experience Mrs Nicholas practised as a Barrister and Solicitor of the Supreme

Court of Victoria and the High Court of Australia in a Melbourne-based legal career spanning 39 years. For some 22 years she wasalso a managing owner/partner in a large scale cropping and beefcattle enterprise in the NSW Southern Riverina.Mrs Nicholas is currently a board member of Methodist Ladies’College, Kew, Victoria, and Howlong Country Golf Club Limited. Shehas previously held other directorships.Classically trained as a pianist, singer and clarinettist, and morerecently playing as a cellist with the Murray ConservatoriumOrchestra and the North East Victoria Occasional String Orchestra,she maintains a keen interest in music

Jane SeawrightQualifications BA.LLB (Hons) M.Bus (Marketing) FAICDExperience An experienced non-executive director and professional company

secretary with a background as a corporate and commercial lawyer,knowledge and information professional and business developmentleader. She has substantial board and senior executive experience ina range of environments, including the not for profit sector,specifically in the arts, mining, health and research sectors. She hasadvised listed and unlisted companies in corporate governance,capital raising, financing, commercial agreements and arrangements,intellectual property and commercialisation. Jane is currently adirector of the Residential Tenancies Authority and is Chair of NetballQueensland.

2




Information on directors continued

Michael WilkinsExperience General Manager NewsLocal, News Corp Australia (NSW). The latest

post in a 25 year journalistic and management career at News CorpAustralia. In 2008 he was appointed News’ Group Editorial BusinessManager before promotion in 2010 to General Manager of NorthQueensland News in Townsville. He returned to Sydney as GeneralManager Operations (NSW) in 2012 and was appointed to his currentrole in August, 2013.

John ZabalaQualifications Fellow of the Institute of Chartered Accountants in Australia

Bachelor of Commerce, James Cook UniversityCertified Internal AuditorCommissioner for DeclarationsRegistered Company AuditorCertified Tax Agent

Experience Principal of the Assurance division of Moore Stephens, based in theTownsville Office. Significant public sector audit experience as adelegated signatory of the Auditor General.

Company secretary

The following person held the position of Company secretary at the end of the financial year:

Justin Ankus • Member Australian Institute of Company Directors (MAICD)• Masters of Management (Arts Administration) University of Technology (Sydney)• Graduate Certificate in Applied Finance, Macquaire University (Sydney)• Bachelor of Commerce, University of Western Sydney.

Principal activities

The principal activity of Australian Festival of Chamber Music North Queensland Limited during the financial yearended 31 December 2016, was to present the Chamber Music Festival in Townsville and North Queensland.No significant changes in the nature of the entity's activity occurred during the financial year ended 31 December2016.

Objectives

Our vision is to create a transformative experience of chamber music in the tropics that leaves a lasting legacy for theTownville region.

Our mission is to:• Deliver an international chamber music festival and related experiences to Townsville;• Enrich the cultural life of North Queensland; and• Create compelling reasons for diverse audiences to visit from across Australia and around the world.

This will be delivered by focussing on three key goals:1. Create a unique festival experience

Enrich key stakeholders from artists and audiences to sponsors and supporters.

3




Principal activities continued 2. Grow and diversify our audiences

Increasing consumer awareness and Festival audiences through effective marketing andcommunications and innovative music programs of a broad repertoire that appeal to a wide audience.

3. Secure long-term sustainabilityMaintain a sound business model and operating system that guarantees future financial stability and asuccessful artistic programme.

Members guarantee

Australian Festival of Chamber Music North Queensland Limited is a company limited by guarantee. If the entity iswound up, the constitution states that each member is required to contribute a maximum of $20 each towards meetingany outstanding obligations of the entity. As at 31 December 2016, the total amount that members of the company areliable to contribute if the company is wound up is $10,560 (31 December 2015: $12,440).

Meetings of directors

During the year ended 31 December 2016, 9 meetings of directors were held. Attendances by each director were asfollows:

Directors'Meetings

Numbereligible to

attendNumberattended

Sandra Yates AO 9 9Terry Dodd 9 8Michael Fellows 9 6Professor Robyn McGuiggan 9 7Russell Mitchell 9 8Marjorie Nicholas OAM 9 9Jane Seawright 9 7Michael Wilkins 9 7John Zabala 8 7

4


Auditors Independence Declaration under Section 60-40 of the AustralianCharities and Not for Profits Commission Act 2012 To the Board ofDirectors of Australian Festival of Chamber Music North QueenslandLimited

I declare that, to the best of my knowledge and belief, during the year ended 31 December 2016, there have been:

(i) no contraventions of the auditor independence requirements as set out in the Australian Charities and Not forProfits Commission Act 2012 in relation to the audit; and

(ii) no contraventions of any applicable code of professional conduct in relation to the audit.

Crowe Horwath NQ

Mark AndrejicPartner

Townsville, 2017

6

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Statement of Profit or Loss and Other Comprehensive IncomeFor the Year Ended 31 December 2016

Note2016

$2015

$Revenue 2 804,105 872,624Government grants 426,084 757,500Sponsorship In-kind 121,900 135,134Employee benefits expense (403,021) (357,557)Depreciation (2,634) (3,672)Programming expenses (353,025) (423,470)Production expenses (186,867) (214,790)Box office costs (95,969) (106,701)Advertising, marketing, hospitality and special events (209,253) (303,179)Administration and operation fees (27,345) (33,713)Other expenses (91,520) (172,899)

Surplus/(deficit) before income tax (17,545) 149,277Income tax expense - -

Surplus/(deficit) for the year, net of tax (17,545) 149,277Other comprehensive income - -

Total comprehensive income for the year (17,545) 149,277

The accompanying notes form part of these financial statements.7


Statement of Financial PositionAs At 31 December 2016

Note2016

$2015

$

ASSETSCURRENT ASSETSCash and cash equivalents 3 726,128 668,649Trade and other receivables 4 19,341 15,200Other current assets 5 6,459 7,692TOTAL CURRENT ASSETS 751,928 691,541NON-CURRENT ASSETSPlant and equipment 6 5,101 7,235TOTAL NON-CURRENT ASSETS 5,101 7,235TOTAL ASSETS 757,029 698,776

LIABILITIESCURRENT LIABILITIESTrade and other payables 7 140,945 73,631Employee benefits 8 22,480 13,996TOTAL CURRENT LIABILITIES 163,425 87,627TOTAL LIABILITIES 163,425 87,627NET ASSETS 593,604 611,149

EQUITYFuture fund reserve 273,342 264,192Retained surplus 320,262 346,957TOTAL EQUITY 593,604 611,149



Statement of Changes in EquityFor the Year Ended 31 December 2016

2016RetainedSurplus

$

Future FundReserve

$Total

$Balance at 1 January 2016 346,957 264,192 611,149Total comprehensive income for the year (17,545) - (17,545)Transfers to Reserve (9,150) 9,150 -

Balance at 31 December 2016 320,262 273,342 593,604

2015RetainedSurplus

$

Future FundReserve

$Total

$Balance at 1 January 2015 214,394 247,478 461,872Total comprehensive income for the year 149,277 - 149,277Transfers to Reserve (16,714) 16,714 -

Balance at 31 December 2015 346,957 264,192 611,149

Future Fund ReserveThe donations to the future fund were made on the understanding that the Future Fund Reserve is a restricted reserve andwe will be adding to the fund over the coming years.



Statement of Cash FlowsFor the Year Ended 31 December 2016

Note2016

$2015

$

CASH FROM OPERATING ACTIVITIES:Receipts from customers 1,434,957 1,794,338Payments to suppliers and employees (1,387,277) (1,592,332)Interest received 10,299 12,481Net cash provided by operating activities 57,979 214,487

CASH FLOWS FROM INVESTING ACTIVITIES:Purchase of plant and equipment (500) (4,921)Net cash used by investing activities (500) (4,921)

CASH FLOWS FROM FINANCING ACTIVITIES:Repayment of borrowings - (25,000)Net cash used by financing activities - (25,000)

Net increase in cash and cash equivalents held 57,479 184,566Cash and cash equivalents at beginning of financial year 668,649 484,083Cash and cash equivalents at end of financial year 3 726,128 668,649



Notes to the Financial StatementsFor the Year Ended 31 December 2016

1 Significant Accounting Policies

The principal accounting policies adopted in the preparation of the financial statements are set out below. Thesepolicies have been consistently applied to all the years presented, unless otherwise stated.

(a) Basis of preparation

These general purpose financial statements have been prepared in accordance with Australian AccountingStandards - Reduced Disclosure Requirements and Interpretations issued by the Australian AccountingStandards Board ('AASB') and associated regulations and the Australian Charities and Not for ProfitsCommission Act 2012, as appropriate for not-for-profit oriented entities.

The financial statements cover Australian Festival of Chamber Music North Queensland Limited as anindividual entity. The financial statements are presented in Australian dollars, which is Australian Festival ofChamber Music North Queensland's functional and presentation currency.

Australian Festival of Chamber Music North Queensland is a not-for-profit unlisted public Company limited byguarantee.

Historical cost conventionThe financial statements have been prepared under the historical cost convention.

Critical accounting estimatesThe preparation of the financial statements requires the use of certain critical accounting estimates. It alsorequires management to exercise its judgement in the process of applying the Company's accounting policies.

(b) Revenue and other Income

The Company recognises revenue when the amount of revenue can be reliably measured, it is probable thatfuture economic benefits will flow to the entity and specific criteria have been met for each of Australian Festivalof Chamber Music North Queensland Limited's activities as discussed below.

Ticket and sales revenueRevenue is measured at the fair value of the consideration received or receivable after taking into account anytrade discounts.

Grant revenueGovernment grants are recognised at fair value where there is reasonable assurance that the grant will bereceived and all grant conditions will be met.

SponsorshipSponsorship revenue is recognised in the period it is received.

Provision of services (membership servicing)Revenue recognition relating to the provision of services is determined with reference to the stage ofcompletion of the transaction at the end of the reporting period and where the outcome of the contract can beestimated reliably. Stage of completion is determined with reference to the services performed to date as apercentage of total anticipated services to be performed. Where the outcome cannot be estimated reliably,revenue is recognised only to the extent that related expenditure is recoverable.

DonationsDonations and bequests are recognised as revenue when received.

All revenue is stated net of the amount of goods and services tax (GST).

11



1 Significant Accounting Policies continued

(c) Income tax

No provision for income tax has been raised as the Company is exempt from income tax under Div 50 of theIncome Tax Assessment Act 1997 .

(d) Current and non-current classification

Assets and liabilities are presented in the statement of financial position based on current and non-currentclassification.

An asset is current when: it is expected to be realised or intended to be sold or consumed in normal operatingcycle; it is held primarily for the purpose of trading; it is expected to be realised within twelve months after thereporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used tosettle a liability for at least twelve months after the reporting period. All other assets are classified as non-current.

A liability is current when: it is expected to be settled in normal operating cycle; it is held primarily for thepurpose of trading; it is due to be settled within twelve months after the reporting period; or there is nounconditional right to defer the settlement of the liability for at least twelve months after the reporting period. Allother liabilities are classified as non-current.

(e) Cash and cash equivalents

Cash and cash equivalents comprises cash on hand, demand deposits and short-term investments which arereadily convertible to known amounts of cash and which are subject to an insignificant risk of change in value.

(f) Trade and other receivables

Trade and other receivables are recognised at amortised cost, less any provision for impairment.

(g) Plant and equipment

Plant and equipment is stated at historical cost less accumulated depreciation. Historical cost includesexpenditure that is directly attributable to the acquisition of the items.

Depreciation

Depreciation is calculated on a straight-line basis to write off the net cost of each item of plant and equipmentover their expected useful lives as follows:

Depreciation rates

The depreciation rates used for each class of depreciable assets are:

Class of Fixed Asset Depreciation RateFurniture, Fixtures and Fittings 20 - 66.67%

The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at eachreporting date.

12



1 Significant Accounting Policies continued

Depreciation rates continued

An item of plant and equipment is derecognised upon disposal or when there is no future economic benefit tothe company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit orloss.

(h) Trade and other payables

Trade and other payables represent the liability outstanding at the end of the reporting period for goods andservices received by the Company during the reporting period which remain unpaid. Due to their short-termnature they are measured at amortised cost and are not discounted. The balance is recognised as a currentliability with the amounts normally paid within 30 days of recognition of the liability.

(i) Employee benefits

Short-term employee benefitsLiabilities for wages and salaries, including non-monetary and annual leave expected to be settled within 12months of the reporting date, or where no right to defer settlement exists are recognised in current liabilities inrespect of employees' services up to the reporting date and are measured at the amounts expected to be paidwhen the liabilities are settled.

(j) Goods and services tax (GST)

Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurredis not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of theasset or as part of the expense.

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount ofGST recoverable from, or payable to, the tax authority is included in other receivables or other payables in thestatement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing orfinancing activities which are recoverable from, or payable to the tax authority, are presented as operating cashflows.

(k) Comparative figures

Where required by Australian Accounting Standards, comparative figures have been adjusted to conform tochanges in presentation for the current financial year.

(l) New, revised or amending Accounting Standards and Interpretations adopted

The Company has adopted all of the new, revised or amending Accounting Standards and Interpretationsissued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reportingperiod.

Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have notbeen early adopted.

13



2 Revenue and Other Income 2016

$2015

$

Sales revenue- event sales 550,474 534,602

550,474 534,602

Other revenue- member subscriptions 39,634 37,390- sponsorship revenue 66,500 69,500- donations 109,065 181,088- interest received 10,299 12,481- sundry revenue 28,133 37,562

253,631 338,022

Total revenue and other income 804,105 872,624

3 Cash and Cash Equivalents 2016

$2015

$Cash on hand 123 261Cash at bank 726,005 668,388

Total cash and cash equivalents 726,128 668,649

Restricted use funds have been set aside for the Future Fund Reserve of $273,342. The use of these funds isrestricted so as not to form part of the operating cash available to meet ongoing trading operations. No formal trustagreement exists, but the Company has established, and will cash back, the Future Fund Reserve for the long termstability of the Festival.

Cash at bank includes a balance of $73,000 in grant funding restricted to certain projects.

4 Trade and Other Receivables 2016

$2015

$Trade receivables (2,530) 5,200Prepayments 21,871 3,488GST receivable - 6,512

Total trade and other receivables 19,341 15,200

5 Other Current Assets 2016

$2015

$Accrued Interest 6,459 7,692

Total other current assets 6,459 7,692

14



6 Plant and Equipment 2016

$2015

$Furniture, fixture and fittings at cost 49,707 49,207Less: Accumulated depreciation (44,606) (41,972)

Total plant and equipment 5,101 7,235

(a) Movements in Carrying Amounts

Movement in the carrying amounts for each class of plant and equipment between the beginning and the end ofthe current financial period:

Furniture,Fixtures and

Fittings$

Total$

2016Balance at the beginning of period 7,235 7,235Additions 500 500Depreciation (2,634) (2,634)

Balance at 31 December 2016 5,101 5,101

2015Balance at the beginning of period 5,986 5,986Additions 4,921 4,921Depreciation (3,672) (3,672)

Balance at 31 December 2015 7,235 7,235

7 Trade and Other Payables 2016

$2015

$Trade payables 22,341 30,931GST payable 9,296 12,315Revenue received in advance 109,309 30,384

Total trade and other payables 140,945 73,631

8 Employee benefits 2016

$2015

$Annual leave 22,480 13,996

Total employee benefits 22,480 13,996

15



9 Interests of Key Management Personnel

Any person(s) having authority and responsibility for planning, directing and controlling the activities of the company,directly or indirectly, including any director of the company is considered key management personnel.

The total remuneration paid to key management personnel of the Company for the year ended 31 December 2016 was$165,496 (year ended 31 December 2015 was $163,660).

10 Contingent Liabilities and Contingent Assets

The Company had no contingent liabilities as at 31 December 2016 and 31 December 2015.

11 Related Party Transactions

Key management personnelDisclosures relating to key management personnel are set out in note 9.

Transactions with related partiesTransactions with related parties are on normal terms and conditions, no more favourable than those available to otherparties unless otherwise stated.

Receivable from and payable to related partiesThere were no trade receivables from or trade payables to related parties at the current and previous reporting date.

Loans to/from related partiesThere were no loans to or from related parties at the current and previous reporting date.

12 Events after the end of the reporting period

No matters or circumstances have arisen since the end of the financial period which significantly affected or maysignificantly affect the operations of the Company, the results of those operations, or the state of affairs of theCompany in future financial years.

13 Company Details

The registered office of and principal place of business of the company is:Australian Festival of Chamber Music-North Queensland LimitedLevel 1, Breakwater TerminalSIr Leslie Thiess DriveTOWNSVILLE QLD 4810

16

18

Australian Festival of Chamber Music North Queensland Limited Independent Auditor’s Report to the Members of Australian Festival of Chamber Music North Queensland Limited Opinion We have audited the financial report of Australian Festival of Chamber Music North Queensland Limited (the Company), which comprises the statement of financial position as at 31 December 2016, the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors’ declaration. In our opinion, the accompanying financial report of the Company has been prepared in accordance with Division 60 of the Australian Charities and Not-for-profits Commission Act 2012, including:

(a) giving a true and fair view of the Company’s financial position as at 31 December 2016 and of its financial performance and cash flows for the year then ended; and

(b) complying with Australian Accounting Standards – Reduced Disclosure Requirements and Division 60 of the Australian Charities and Not-for-profits Commission Regulation 2013.

Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Australian Charities and Not-for-profits Commission Act 2012 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Responsibilities of the Directors for the Financial Report The directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and the Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act) and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

19

Australian Festival of Chamber Music North Queensland Limited Independent Auditor’s Report to the Members of Australian Festival of Chamber Music North Queensland Limited (Cont.) Auditor’s Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report.

A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/auditors_files/ar3.pdf. This description forms part of our auditor’s report.

CROWE HORWATH NQ Mark Andrejic Partner Townsville, 21 / 02 / 2017.

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