central coast tourism annual report 2013-14

Annual Report 2013 - 2014

Mission Statement:Using a Destination Management approach, lead the development and implementation of business strategies to increase the awareness, preference and visitation to the Central Coast of NSW whilst optimising the operational effectiveness of the organisation to influence the tourism industry.

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Chairperson’s Report

Dear Members and Key stakeholders

My role as Chairperson over the last year has been a rewarding one with the growth of the organisation being realised through the strategies the Board has put in place over the last three years.

Some of the key achievements from these strategies have been an internal restructure, a review of membership value, stronger relationships with both councils, greater collaboration with new and existing partners and a review of board governance. The Central Coast Destination Management Plan for the Visitor Economy 2013 -2017 (DMP) which was released in April this year is in line with these accomplishments and provides the framework for future growth.

I would like to thank the CEO, Ms Robyne Abernethy, her staff and the volunteers for their dedication and passion while taking on the structure changes that have allowed the organisation to rationalise our expenditure and open up new opportunities for 2015.

I am pleased to be able to announce that in the new year our membership offerings will provide greater value and resources. I look forward to the delivery of this initiative which highlights Central Coast Tourism’s collaborative efforts and commitment to helping our members grow and prosper in a dynamic visitor economy.

On behalf of the Board I would like to acknowledge the support of Gosford and Wyong Councils. The Mayors, Councillors, General Managers and staff of both councils who have worked closely with our team to ensure the Central Coast is a desirable destination providing memorable visitor experiences for continued growth and prosperity for our region. In addition to this both councils recognise the importance of infrastructure to support our industry and have ongoing commitments in making sure infrastructure is in place and maintained to service our community and our visitors.

To guarantee Central Coast Tourism is able to build on its successes and guide the growth of the visitor economy a commitment has been made for the Board to participate in regular governance workshops. This will provide stable and sound Boards of the future with vision and strategies to drive best practice across all areas of the visitor economy.

I would like to thank my fellow Board Members for their time, support and dedication in providing the strategic direction, visions and goals for the Central Coast to become a strong visitor economy that complements the key economic drivers that make our Coast a wonderful place to live.

And lastly I would like to thank all of you for the services and goods that you provide to our visitors and your contribution to the Visitor Economy. On behalf of the Board I wish you all the best for the coming holiday season and for the year to come.

Sincerely

Chairperson’s Message

Advocacy

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Sandar Kerr - Chairperson

To address issues and drive resolutions in support of our local Visitor Economy and encourage development, Central Coast Tourism actively engages with and appreciates the continued support of local organisations and stakeholders including:

• Gosford City Council

• Wyong Shire Council

• Regional Development Australia Central Coast

• Department Premier and Cabinet, Central Coast

• Central Coast Regional Development Corporation

• State and Federal Members of Parliament

• Destination New South Wales

• Tourism Australia

• BESydney

• NSW and Local Business Chambers and community groups.

Back row: Barton Lawler, Craig Ellis, Bob Diaz, Daniel Payne

Front Row: Robyne Abernethy, Sandra Kerr, Libby Bain, Peter Evans, Lynne Webster

Absent: Lawrie McKinna Susan Davis

Board Members

Contents

Chairperson’s Report 2 - Chairperson’s Message - Advocacy 2

Chief Executive Officer Report - Overview 4

Destination Management - Membership and Industry Engagement 5 - Membership Status 5 - Visitor Information and Bookings Provision 5

Destination Management Plan 6 - 7 for the Visitor Economy - Vision, Mission and Goals 6 - DMP Action Plan - Strategic Priorities 6 - 7 - Visitor Segment Snapshot 7

Destination Marketing 8 - 10 - Domestic 8 - Regional Visitor Economy Fund 8 - Visitor Sectors 8 - Conference Campaign 9 - Digital Media 9 - Media & PR 10 - Publications 10 - International 11

Destination Development 11 - Event Attraction 11

- Product Development 11 Financial Report - Financial Summary 12 - 27

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Stakeholder Engagement

Central Coast Tourism appreciates the support to the local tourism industry provided by our corporate members:

• Crowne Plaza Terrigal

• Mingara Recreation Club

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1: Meetings on the Green 2: June Malaysia Famil 3: ARTN

4 Chief Executive Officer Report

Overview

Robyne Abernethy - Chief Executive Officer

Regional Visitor Economy Fund

The program has two funding streams - Quarantine and Contestable Pool of Funds, both funding streams must be matched dollar for dollar. The introduction of the RVEF program was welcome news and addressed the uncertainty around future funding with the program guaranteed for three years. Collaboration, results contributing to the growth in overnight visitation and alignment with the region’s Destination Management Plan were highlighted as key components for successful applications.

Central Coast Tourism submitted applications for Leisure, Conference/Events and International activities. The applications were successful with the region receiving over $200,000 in matched funding. The Leisure digital marketing campaign - Need a Getaway Plan was in market from October 2013 to March 2014 (details pg 8). The Conference/Events and International campaigns are currently in market with a range of activities scheduled from March to November 2014.

Central Coast Destination Management Plan for the Visitor Economy 2013 – 2017

In line with the requirements of the RVEF program, the region’s second destination management plan - the Central Coast Destination Management Plan (DMP) for the Visitor Economy 2013 – 2017 was developed with the final publication being released in April 2014. The DMP details the region’s goals and objectives through to 2017 and highlights six priority projects (refer page 5).

The region’s visitation statistics for the year ending December, 2013, show the value of the Visitor Economy at $831 million - a 31% increase on 2012. This figure relates to our three key visitation sectors, domestic overnight - $533 million, domestic day trippers - $265 million and international overnight visitors - $33 million. Both day trip and international visitors recorded an increase in average spend and whilst the domestic overnight visitor spend decreased, the increase in visitors for this category drove a $24 million dollar increase in revenue. (refer page 7)

New Products and Future Developments

There is a renewed energy in the region with proposed developments and the introduction of new products. New and developing products such as Luka Chocolateria, Julie’s Place and Treetop Adventure Park’s - Treetop Crazy Rider compliment our established experiences and encourage visitors to stay longer. In December 2014, Diggers@the Entrance will open new 3.5 star accommodation under the Ibis Styles brand. New developments for 2015 include the transformation of the Imperial Shopping Centre and the opening of the Art House in Wyong.

Along with this the five catalyst projects highlighted in the Tourism Opportunity Plan are moving forward and will be a great addition to the region.

I would like to thank the staff and volunteers at Central Coast Tourism, the board and our membership for their continued support and I look forward to working with you thoughout the coming year to further strengthen and grow our local Visitor Economy.

Sincerely

Following the release of the NSW Government’s Visitor Economy Taskforce

Report in June 2012 and subsequent action plan (Dec 2012), a new funding program for

regional tourism was created.

The Regional Visitor Economy Fund (RVEF) was established to support product development

and marketing activities and the Governments’ objective of doubling overnight visitor

expenditure by 2020.

4: New Product - Treetop Crazy Rider at TreeTop Adventure Park 5: New Product - Julie’s Place

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5.Regional Visitor Economy Fund

5Destination Management

Destination Management Plan for the Visitor Economy 2013 - 2017

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Vision, Mission and Goals

Vision Build on the Central Coasts’ competitive strength of its location by the water and become a leader in natural adventure and event experiences that act as a catalyst to year round visitation.

Mission Enhance the Central Coast’s natural advantage and offer visitors an antidote to city life to drive a sustainable visitor economy, enrich community assets and create local employment.

Natural Advantage Proximity to Sydney

Nature on the doorstep

Great beaches and waterways

Sporting and Event facilities

Village/community atmosphere

Measures of Success

Increased visitor nights (mid-week, in shoulder seasons) Increased visitor expenditure

Goals and Objectives Increase the average length of stay by 5% across all markets from 2.8 nights to 3 nights

Increase the average spend per visitor by 10% growing domestic overnight from $143 to $157; international overnight from $41 to $45; and domestic day from $70 to $77

Increase our share of the NSW conference and events market by 3%

Increase the range of visitors that disperse their spend throughout the year (More ‘active’ True Travellers and Peer Group visitors and those travelling for a purpose)

Grow our share of Sydney short breaks Increased value of VFR from building local pride

Visitor Information and Bookings Provision

Membership and Industry Engagement

Central Coast Tourism membership numbers across all categories remained steady.

Networking Nights The six member networking functions were well attended. Central Coast Tourism would like to thank the host venues and suppliers for their support.

Presentations Presentations from Lynne Hocking, CEO Web Noise to improve awareness of communicating via social media, Central Coast Mariners CEO Mike Charlesworth, CEO of AFC Asian Cup Michael Browne and Roslyn McLeod, Managing Director of Arinex, a global leading, event and conference management company were highlights.

Membership Status 2013 - 14

Social 45 1,015.00

Local 63 6,363.00

Regional 139 54,100.00

National 11 14,685.00

International 9 13,025.00

Corporate 2 24,600.00

Total 269 113,788.00*

Membership Category Number of Members Total value of Membership

(b)

Central Coast Tourism delivers Visitor Information Centre Services at the Central Coast Gateway Centre at Kariong, the Gosford Visitor Information Centre and supports The Entrance Visitor Information Centre managed by The Entrance Town Centre Management.

Visitation to the Central Coast Gateway Centre increased by 7.12% and accommodation and tour bookings increased by 4.06% compared to the previous year.

The retail product range continues to expand and provides the opportunity to promote local products and attractions.

* Figures include GST as at Sept 30, 2014.

Jacqui Greaves - Business Development

Manager

Central Coast Tourism recently appointed Narelle Lehmann in the role of Sales and Information Supervisor. Narrelle’s reservations experience in hotel and resort management is a welcomed skill set to the team.

Central Coast Tourism would like to thank the dedicated team of volunteers responsible for delivering over 6000 hours of quality customer service and supporting the Visitor Economy.

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Take a more flexible approach to placemaking utilising the NBN and ‘pop up’ style infrastructure

Build the links throughout the region by the development of improved infrastructure connecting villages, products and experiences supported with better public/private transport options.

Take a lead in active engagement in social media and other integrated marketing initiatives to reach ‘tribes’ and influencers of travel to grow niche visitation.

Develop and launch a new online booking platform that brings accommodation, experiences and events together and work effectively pre-trip and enroute with greater flexibility to respond to consumers wants, needs and desires

Target niche markets who travel mid-week through a social media strategy and other integrated marketing activities.

Push the soft-adventure experiences of the destination along with accommodation options

Create a strong events calendar that drives off-peak and mid-week visitation

Showcase all weather experiences to promote the destination as a year round option

Utilise the success of the Mariners to promote the destination for sports tourism to capitalise on our extensive sports infrastructure.

Leverage Great Golf Courses of Australia initiative of Tourism Australia to attract a national golf event

Target active recreation visitors and experience seekers from the drive market including fishing, boating, mountain biking, walking, surfing, watersports, diving, golfing etc

Undertake a product audit matching the needs of current and emerging target niche markets and the products available in the Central Coast to identified opportunities

Grow the true traveller segment both domestic and international through new natural adventure experiences

DMP Action Plan - Strategic Priorities

ACTION

Adopt a more coordinated approach across Councils and the RTO to attract and deliver major sporting events as well as Meetings, Incentives, Conferences, Events and the Education market by expanding the role of the Central Coast Regional Events Alliance to include an event attraction sub-committee.

Build local pride through a local awareness campaign and familiarisation program with the tourism industry.

Support take-up of industry accreditation and self regulation to deliver a high qulaity experience for visitors without compromising the quality of life of residents or the conservation of our precious environment and amenity.

Secure partnership funding to appoint a Business Tourism and Events Manager to implement Priority Project #2.

Councils and the Tourism Organisations to identify and promote a suite of investment incentives to encourage new product development and investment.

Leverage events that have the potential to have a greater economic impact by engaging other parts of the economy including performing and visual arts, educational, entertainment, cultural and heritage experiences.

Grow the base of international visitors in partnership with nearby regions (eg: Port Stephens, Hunter, Newcastle) and the Legendary Pacific Coast Touring Route.

Support a strong, confident and united industry through regular networking, workshops and events.

Encourage local operators to develop, renew & revitalise current product and experiences to drive longer stays and repeat visitation.

BUILD A SUSTAINABLE VISITOR ECONOMY TO SUPPORT FUTURE INVESTMENT

CONNECT PEOPLE AND PLACES

TARGET MORE ACTIVE TRAVELLERS

ACTIVATE THE DESTINATION & NATURAL ASSETS

Timing: Immediate - IM 2013/14

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ACTIVITY/STATUS

Secured Clubs NSW Academy Games - April 2015 – 2017. CCT accommodation booking agent.

General Advocacy, promotion & support of events such as: 5 Lands Walk, 2014 ARTN Convention, Australian Springtime Festival, Brisbane Water Oyster Festival, CC7’s, Chromefest & Mountain Sounds.

Collaborative Partners: Legendary Pacific Coast Touring Route, Top Spots North (new partnership with Newcastle, Hunter Valley and Port Stephens). International Rotary Convention.

52 Local Secrets program, Hunter Central Coast Tourism Awards.

Bi-monthly networking events include guest speaker program & activity showcase. Destination NSW, NSW First, & Tourism Awards Workshop held in region.

RVEF program awareness and support of applications for Contestable Pool of Funding for Marketing and product development. Industry Training.

An application for matched funding has been submitted to NSW Department of Trade and Investment. Awaiting approval.

CCT role = support. General Advocacy undertaken

Digital Leisure Campaign, Facebook, Twitter, Instagram and LinkedIn

Phase One: Bookeasy upgrade November 14 - February 15

Conference Campaign June - December 2014. Special Offers - Official Visitor Guide, Facebook, Twitter, Instagram, LinkedIn

General Advocacy: 2015 AFC Asian Cup membership opportunities

General Advocacy: Tourism Australia representative provided information and invited to region to assess facilities and determine opportunities.

Website innovation – ‘submit now’ widget installed for self loading of events. Over 600 events promoted on website for 2014.

Themed ‘Getaway’ Itineraries developed, published and available online. Getaway Plan Digital Leisure Campaign and Daily Telegraph Mini book promotion.

Nature Lovers & Adventure themed itineraries created & published in Official Visitors Guide & available online. Digital Awareness Campaign - ‘Getaway Plan’ marketing campaign & Daily Telegraph Mini book.

Dedicated ‘All Weather’ experience page included in the 2014 and 2015 Official Guide.

Participation – ATE, ATEC workshops, DNSW Trade & Media familiarisation program, Legendary Pacific Coast Touring Route, ATE pre/post familiarisations. Digital Awareness Campaign & Mini-book.

Product audit = DMP. Alignment with Tourism Australia’s Restaurant Australia Campaign. Top Spots North Partnership, Food & Wine Itinerary developed and promoted at ATE and ATEC.

Member Packaging & Getaway Plan themed itineraries and Town Centre Master Plans

General Advocacy: Tourism Opportunity Plan Catalyst Projects - Gosford Waterfront Development, Pioneer Dairy Sporting Hub & key developments such as Kibbleplex, The Art House & the Regional Airport

Members encouraged to apply for TQual accreditation. NB: TQUAL ceased on 30 June 2014. Industry lobbying for replacement program.

Build local pride through a local awareness campaign and familiarisation program with the tourism industry.

Secure partnership funding to appoint a Business Tourism and Events Manager to implement Priority Project #2.

Visitor Sector Snapshot

Immediate/Long Term - IM/LT 2013/14Immediate/Medium Term - IM/MT 2013/14

Visitors

Segment: Day Trippers

YE Dec 2013 YE Dec 2012 YE Dec 2011

3,491,000

3,814,000

3,029,000

Total

Domestic Day

Trippers

Domestic Overnight

Value: Visitor Economy


$831 million

$265 million

$800 million

$267 million

$212 million

$644 million

Int’l

Source: Destination NSW, Region Snapshot 2011 - 2013

Visitors

Nights

Segment: Domestic Overnight


1,309,000

3,993,000

1,264,000

3,550,000

1,203,000

3,568,000Source: Destination NSW, Region Snapshot 2011 - 2013

Visitors

Nights

Segment: International Visitors


642,000

594,000

42,000

$33 million

33,000

$24 million

39,000

$28 million

705,000



$533 million

$509 million

$404 million

8 Destination Marketing

Domestic

Australian Travel Mindsets

18%

29%10%15%

23%

5%Other

Pampadours

Compatriots

Wanderers

Peer Group Travellers

True Travellers

6 & 7: Chief Funster - Out and about at the Pelican Feeding, The Entrance and Aquafun, Avoca Beach 8: Leisure Campaign: Getaway to the Central Coast 9, 10, 11 & 12: Central Coast Getaway Plan Mini Book

Top 3 Domestic Overnight Activities

Top 3 Daytripper Activities

Source: Destination NSW, Year ending December 2013



Eating Out

Visiting Friends & Relatives

Beach

Beach

Visiting Family & Friends

Eating Out

Leeanne Dyer - Marketing & Communications Manager

Chief Funster

In January 2014 the Central Coast hosted a visit from the ‘Chief Funster’. The Chief Funster was NSW’s ‘Best Jobs in the World Campaign’ activist. The objective for the activist was to prove that New South Wales is ‘The Most Fun Place in the World’.

As our tagline is ‘Fun Starts Here’, the Central Coast was the first regional destination to host the ‘Chief Funster’ and introduce our unique experiences. Through this project, the Central Coast was showcased via Destination NSW’s social media assets using a range of mediums including video, photography and blogs.

Leisure Marketing Campaign – Getaway to The Central Coast

Central Coast Tourism worked in conjunction with members and Destination NSW on developing the message and creative for the Leisure Marketing Campaign. The digital campaign was launched in October 2013 and paused for a period due to the NSW bush fires. The campaign resumed in November and ran through to the end of February 2014 with a block out period from mid December to mid January. The campaign page, hosted on visitnsw.com.au, delivered over 12,000 leads to participating members. As part of the Leisure Campaign, the Central Coast Getaway Plan Mini Book was distributed via the Daily Telepgraph on 15 March 2014 with travel offers valid through to the end of June 2014. The main ‘call to action’ for the tactical offers were the individual products website or telephone. The secondary ‘call to action’ was the campaign site which delivered over 1,000 leads to participating members.

Throughout 2014, Central Coast Tourism continued to leverage the 52 Local Secrets program for both regional and local applications to drive the Visiting Friends and Relative Market. The playing cards featuring the secrets have proven to be a popular medium for encouraging dispersal around the region.

2013/2014 Regional Visitor Economy Fund (RVEF)

Central Coast Tourism accessed over $200,000 through the RVEF program to execute marketing campaigns directed at our key market segments:

• Leisure • Conference • International

Visitor Sectors

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13, 14 & 15: Conference Campaign Digital Banners 16,17 & 18: Digital Media Assets

Top 3 Domestic Overnight Activities

Conference Campaign

2014 Asia-Pacific Incentives and Meetings Expo (AIME), MelbourneCentral Coast Tourism coordinated a joint appointment schedule at AIME with Mercure Kooindah Waters and Pullman Magenta Shores, under the Business Events Sydney Stand. Over 50 contacts were made throughout the two day tradeshow.

Destination Awareness and Tactical Conference Campaign

Starting in June, activity included features in leading conference publications including MICENET, CIM and Executive PA along with banners on their associated websites, dedicated EDMs and CEO interview vignettes. A campaign site, www.centralcoastmice.com.au, was developed for the campaign.

The website has received over 500 unique visitors, with the most viewed pages on the campaign website being:

• Conference Special Offers • Inspiration Gallery • Featured Venues

As at the end of September 2014, over 200 leads were generated to participating stakeholders. For the corresponding period, visitation to visitcentralcoast.com.au/conference increased 108% compared to the same period the previous year.

Meetings on the Green: As part of the conference campaign activity, Central Coast Tourism became an event sponsor at this popular and respected event. Joining Central Coast Tourism, was Australia’s First Masterchef, and local celebrity, Julie Goodwin, who provided a tasty treat for all the golfers coming through. The event was held at Pullman Magenta Shores and attended by over 150 key conference contacts. The team effort on the day resulted in the Central Coast receiving the award for the ‘Best Dressed Hole’ beating 17 other contenders including international destinations.

Digital MediaIn March, Jessica Anderson, was appointed as Central Coast Tourism’s new Marketing, Events and Communications Coordinator. A major part of her role involves managing Central Coast Tourism digital marketing assets.

Website

For 2014 the Visit Central Coast website, (www.visitcentralcoast.com.au) averaged over 23,000 unique visitors per month, an increase of 25% over the same period from the previous year*. Monthly peaks of over 40,000 and 30,000 unique visitors were recorded in January and April respectively.

The website continues to be an important referral resource for Regional and above members, with over 34,000 leads generated, representing an increase of 8% on the previous year*. The most popular action was to view members website link followed by “Book Now” and “Enquire”.

Event listings for features such as School Holiday Ideas, the Gig Guide and major events including Melbourne Cup , ChromeFest and Central Coast Rugby Sevens attracted high visitation. An innovation developed for the website this year was an event “Submit Now” button this has lead to a more comprehensive and diverse Events Calendar. In 2014, 587 events were promoted within the period* through visitcentralcoast.com.au. * Stats calculated based on January to September figures

Social Media

Central Coast Tourism’s online presence continued to grow with the organisation’s Facebook, Twitter & Instagram platforms recording positive increases in followers and engagement.

• As at 30 September 2014: Facebook page had 3,592 Likes (32.5% increase on 30 September 2013).

• With 3490 followers on Twitter (27% increase on 30 September 2013).

• The Central Coast Tourism Instagram Account had 508 followers as at the 30 September 2014 (236% increase on 30 September 2013).

The most regularly viewed and shared content on Central Coast Tourism’s Social Media is public broadcast information such as transport or road closures, weather & emergencies, general news and event cancellations. Our regular weekly ‘Weekend What’s On’ event listing is also gaining regular high reach and shares.

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Media & PRCentral Coast Tourism continued to engage with local, regional and national media to promote issues relevant to the local industry. This activity included assisting members with media releases and product launches. The destination maintained its membership and network with The Australian Society of Travel Writers, Travmedia and AAPNET.

PublicationsOfficial Guide

The 2014 Official Guide achieved full distribution by September 2014. The 2014 Official Guide was made available online as an e-guide and featured on the website, with the Special Discount Voucher page being the most viewed and downloaded.

The 2015 Official Visitors Guide was released mid October at the Spring Networking Night. The 2015 edition includes new editorial features including;

• People & Places Instagram Competition • New Developments • Whale Trail Vantage Points • Coasting Along - Tourist Drives • Skate Parks and Dine Out Guide

In the 2015 Guide the special offers were expanded to 20 offers, up from 12 in 2014.

Instagram Integration

Instagram is the fifth most popular social media platform in Australia with over 4 million active Australian users*. As recognised by Tourism Australia “ Instagram is an ideal social media platform to accentuate Australia’s credentials as a holiday destination as it is purely image-based, allowing fans to post photos in real-time and showcase what makes Australia a unique and special place to visit.”**. An integrated part of the 2015 Central Coast Official Visitors Guide is an Instagram competition. Each month a different theme and #hashtag is used with the competition aimed at increasing the visual representation of the Central Coast on Instagram. *Statistics compiled by SocialMediaNews.com.au for September 2014.

**3 September 2013, ‘Tourism Australia's Instagram profile showcases the best of Australia’

Tourism Awards

Central Coast Tourism continued the alignment with Visitor Economy Hunter to present the 2014 Hunter Central Coast Tourism awards. Nine Central Coast Tourism members entered the awards with the ceremony held at Wests Leagues Club, New Lambton in August 2014.

Gold Award Winners:

• Adventure Tourism - State Forests of the Watagan Mountains, Forestry Corporation of NSW • Tourism Restaurants & Catering Services - D’Vine Group • Hosted Accommodation - Noonaweena • Deluxe Accommodation - Crowne Plaza Terrigal

Silver Award Winners:

• Festival & Events - Convict Footprints on the Old Great North Road, NSW National Parks and Wildlife Service • Adventure Tourism - Glenworth Valley Outdoor Adventures • Tourist and Caravan Parks - Toowoon Bay Holiday Park & NRMA Ocean Beach Holiday Park

Bronze Award Winners:

• Hosted Accommodation - The Acreage Luxury B&B and Guesthouse • Qantas Award for Excellence in Sustainable Tourism - Crowne Plaza Terrigal

Hall of Fame: • Tourist Attractions - Glenworth Valley Outdoor Adventures • Ecotourism - Strickland State Forest, Forestry Corporation of NSW

The NSW Tourism Awards Gala Dinner:

The dinner will take place 27 November 2014 with the following Central Coast Tourism members listed as finalists:

• Convict Footprints on the Old Great North Road • Crowne Plaza Terrigal • Glenworth Valley Outdoor Adventures • Noonaweena Lodge • Ocean Beach Holiday Park • State Forests of the Watagan Mountains • Strickland State Forest • The D’Vine Group • The TreeHut (TreeTop Adventure Park)

2015 OFFICIAL VISITORS GUIDE

19: 2015 Official Visitors Guide 20: Instagram Intergration - OurCentralCoast 21: Central Coast Winners 2014 Hunter/Central Coast Tourism Awards

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Destination Marketing cont...

Event Attraction

Despite not having a dedicated Business Tourism & Events Manager, Central Coast Tourism has continued to work with local stakeholders on selected event bids. In collaboration with the Central Coast Academy of Sports and Gosford City Council, the region was successful with their bid to host the Academy of Sports Games from 2015-2017. This annual event will see 800 participants plus spectators descend on the Central Coast during the second week of the April School Holidays utilising facilities situated across the Central Coast.

Central Coast Tourism continues to provide promotional support and advocacy for a range of key events in the region including, but not limited to:

• 5 Lands Walk • Chromefest • Brisbane Water Oyster Festival • Central Coast Rugby 7’s • NSW Surf Life Savings Championships

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Top 5 International MarketsSource: Destination NSW, Year ending December 2013

United Kingdom

Mainland China & Hong Kong

USA

New Zealand

Germany

Funding OpportunitiesThrough the Federal Government’s grant programs, Tourism Industry Regional Development Fund (TIRF) and Tourism Quality Projects Program (TQUAL, the region was successful in securing $310,000 in matched funding to support the development of the Luka Chocolateria experience and Treetops Crazy Rider - the World’s longest roller coaster zip line.

The Regional Visitor Economy Fund (RVEF ) provides a funding stream for collaborative marketing and product development. Diggers@theentrance was successful in securing $430,000 in matched funding to support the development of a 3.5 star, 52 room hotel development under the Accor brand of Ibis Styles.

InternationalCentral Coast Tourism continued its representation agreement with Australian Attractions Group to ensure our continued presence in Eastern Markets. The past year has seen increased familiarisation activity which secured several incentive groups including Krungthai AXA, Thailand. The development and tailoring of new itineraries has resulted in the Central Coast securing Package Tour Series and Day Tour programs from Korea and China. International overnight visitation for the year ending December 2013 has increased and is now valued at $33 million. (ref graph page 7)

Our support of the Legendary Pacific Coast Touring Route continues and allows us to maintain a presence in key Western Markets, in particular UK, Europe, USA and New Zealand.

Australia’s premier tourism trade event the Australian Tourism Exchange (ATE) 2014 was held in Cairns in May. ATE is the largest international travel trade show of its kind in the southern hemisphere, and attracted 700 key buyer companies from over 40 countries, and 60 international and Australian media. Central Coast Tourism and partners, the Australian Reptile Park and Glenworth Valley Outdoor Adventures met with over 120 buyers through individual appointments and selected buyers were hosted in region through pre - and post-familiarisation tours.

22: Chromefest 2014

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Destination Development

Destination Marketing cont...

Committee’s Report 13

Statement of Comprehensive Income 14

Assets Statement 14

Liabilities Statement 15

Statement of Changes in Equity 15

Statement of Cash Flows 16

Notes to the Financial Statements 16 - 24

Statement by Members of the Committee 24

Auditor’s Report 25

Profit and Loss Statement 26 - 27

CENTRAL COAST TOURISM INCORPORATED

ABN 22 344 164 938

FINANCIAL REPORT

FOR THE YEAR ENDED 30 JUNE 2014

12 Financial Summary

Committee’s Report

Your committee members submit the financial report of the Central Coast Tourism Incorporated for the financial year ended 30 June 2014

Committee Members The names of committee members throughout the year and at the date of this report are:

Members Sandra Kerr - Chairperson

Peter Evans - Vice- Chairperson

Craig Ellis - Treasurer (replaced Shane Caruana 2014)

Barton Lawler

Bob Diaz

Libby Bain (replaced Tara Mills 2014)

Clr Lynne Webster

Mayor Lawrie McKinna

Daniel Payne (replaced Phil Walker 2014)

Observers Susan Davis Michael Whittaker Paul Anderson

Principal Activities The principal activities of the association during the financial year were:

To develop the Central Coast as a domestic and international visitor destination, thereby increasing the economic benefits to the entire region.

Tourism marketing of the Central Coast to international and domestic markets, events attraction promotion, tourism product development, provision of visitor information service at centres in Kariong and Gosford, accommodation bookings.

Significant Changes Central Coast Tourism applied for and received the Regional Visitor Economy Funding (RVEF) quarantine Funding. $100,000 was received in matched funding for the Leisure Marketing Campaign. Product Development funding was not applied for.

Other than the above changes, there were no other significant changes in the nature of these activities that occurred during the year.

Operating Result The profit after providing for income tax amounted to $263,116.

Signed in accordance with a resolution of the Members of the Committee.

Sandra Kerr Craig Ellis Chairperson Treasurer

Dated this 21 November 2014

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NOTE 2014 2013 $ $

Revenues 2 1,253,729 1,359,567

Other Income 2 15,414 53,236 __________ __________

1,269,143 1,412,803

Employee benefits expense (548,609) (588,775)

Purchases and direct costs (246,594) (538,850)

Auditor’s Remuneration 3 (9,100) (14,950)

Bad and doubtful debt expenses - (9,000)

Depreciation and amortisation expenses (38,802) (39,103)

Finance costs (9,708) (10,331)

Operating lease expenses (3,577) (3,577)

Other expenses (149,637) (153,979) __________ __________

Surplus/(Deficit) for the year 4 263,116 54,238 __________ __________

Total comprehensive surplus/(deficit) for the year 263,116 54,238

Total comprehensive surplus/(deficit) attributable to the members of the association 263,116 54,238

Statement of Comprehensive Income For The Financial Year Ended 30 June 2014

ASSETS NOTE 2014 2013 $ $ Current Assets Cash on Hand 5 624,933 391,130 Accounts Receivable and other debtors 6 161,275 81,592 Inventories 7 1,232 605 Other Current assets 8 5,221 4,383 __________ __________

Total Current Assets 792,661 477,710 __________ __________

Non-Current Assets Property, Plant & Equipment 9 845,955 879,697 __________ __________

Total Non-Current Assets 845,955 879,697 __________ __________

Total Assets 1,638,616 1,357,407 __________ __________

Assets Statement As At 30 June 2014

The accompanying notes form part of these financial statements.

14

Liabilities Statement As At 30 June 2014

LIABILITIES NOTE 2014 2013 $ $ Current Liabilities Accounts Payable and other payables 10 127,863 100,358 Financial Liabilities 11 10,659 9,994 Employee Benefits 12 47,540 45,861 Other Current Liabilities 13 63,047 64,735 __________ __________

Total Current Liabilities 249,109 220,948 __________ __________

Non-Current Liabilities Financial Liabilities 11 134,210 144,869 Employee Benefits 12 36,590 35,999 __________ __________

Total Non-Current Liabilities 170,800 180,868 __________ __________

Total Liabilities 419,909 401,816 __________ __________

Net Assets 1,218,707 955,591

Equity Retained earnings 14 1,218,707 955,591 __________ __________

Total Equity 1,218,707 955,591

RETAINED ASSET TOTAL EARNINGS REVALUATION RESERVE $ $

Balance at 1 July 2012 901,353 - 901,353 Surplus/(Deficit) for the year 54,238 - 54,238 __________ __________ _________ Balance at 1 July 2013 955,591 - 955,591 Surplus/(Deficit)for the year 263,116 - 263,116

__________ __________ _________

Balance at 30 June 2014 1,218,707 - 1,218,707

Statement of Changes in Equity For the Financial Year Ended 30 June 2014


15

Statement of Cash Flows For The Financial Year Ended 30 June 2014

2014 2013 $ $ Cash flows from Operating Activities Receipts from customers 529,418 679,795 Receipts from Government Grants 663,841 719,716 Payments to suppliers and employees (939,107) (1,393,647) Interest received 4,414 7,018 Interest Paid (9,709) (10,331) Borrowing Costs Paid - (150) __________ __________

Net cash provided by (used in) operating activities 248,857 2,401

Cash Flow from Investing Activities Payments for property, plant & equipment (5,060) (9,762) __________ __________

Net cash used in investing activities (5,060) (9,762) __________ __________

Cash Flows from Financing Activities Proceeds from borrowings - - Repayment of borrowings (9,994) (9,371) __________ __________

Net cash provided by (used in) financing activities (9,994) (9,371) __________ __________

Net increase/(decrease) in cash held 233,803 (16,732)

Cash and cash equivalents at the beginning of the financial year 391,130 407,862 __________ __________

Cash and cash equivalents at the end of the financial year 624,933 391,130


Notes to the Financial Statements For The Year Ended 30 June 2014

1. Summary of Significant Accounting Policies

The financial statements cover Central Coast Tourism Incorporated as an individual entity. Central Coast Tourism Incorporated is an association in NSW under the Associations Incorporation Act 2009. The financials were authorised for issue on 21 November 2014 by the members of the committee.

Basis of Preparation The financial statements are special purpose financial statements that have been prepared in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the Associations Incorporation Act 2009. The committee has determined that the association is a non-reporting entity.

The financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. The amounts presented in the financial statements have been rounded to the nearest dollar.

Australian Accounting Standards set out accounting policies that the Australian Accounting Standards Board has concluded would result in a financial statements containing relevant and reliable information about transactions, events and conditions. Significant accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated.

16



1. Summary of Significant Accounting Policies (con’t)

Accounting Policies

Inventories Inventories are measured at the lower of cost and net realisable value.

Comparative Figures When required by Accounting Standards or to provide improved information, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

Property, Plant & Equipment

Property, Plant & Equipment

Each class of property, plant and equipment is carried at cost or fair value as indicated less, where applicable, any accumulated depreciation and impairment losses.

Leasehold buildings are measured on the cost basis less depreciation and impairment losses.

Plant and equipment are measured on the cost basis less depreciation and impairment losses.

The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the assets’ employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts.

The cost of fixed assets constructed within the association includes the cost of materials, direct labour, borrowing costs and an appropriate proportion of fixed and variable overheads.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the association and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the statement of comprehensive income during the financial period in which they are incurred.

Depreciation The depreciable amount of all fixed assets including building and capitalised lease assets is depreciated on a straight-line basis over the asset.

The assets’ residual values and useful lives are reviewed and adjusted, if appropriate, at each balance date.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains and losses are included in the income statement. When revalued assets are sold, amounts included in the revaluation relating to that asset are transferred to retained earnings.

Leases Leases of property, plant and equipment, where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership, are transferred to the association, are classified as finance leases.

Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

Leased assets are depreciated on a straight line basis over the shorter of their estimated useful lives or the lease term.

Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred.

Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term.

17


1. Summary of Significant Accounting Policies (cont’d)

Financial Instruments

Initial recognition and measurement Financial assets and financial liabilities are recognised when the entity becomes a party to the contractual provisions of the instrument. For financial assets, this is equivalent to the date the association commits itself, to either purchase or sell the asset ie. (trade date accounting is adopted).

Financial instruments are initially measured at fair value plus transactions costs except where the instrument is classified “at fair value through profit or loss” in which case transaction costs are expensed to profit and loss immediately.

Impairment of Assets At each reporting date, the association reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value-in-use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the statement of comprehensive income.

Where it is not possible to estimate the recoverable amount of an individual asset, the association estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Employee Benefits Provision is made for the association’s liability for employee benefits arising from services rendered by employees to the end of the reporting period. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled, plus related on-costs.

Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability, consideration is given to employee wage increases and the probability that the employee may not satisfy vesting requirements. Those cashflows are discounted using market yields on national government bonds with terms to maturity that match the expected timing of cashflows attributable to employee provisions.

Provisions Provisions are recognised when the association has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.

Provisions recognised represent the best estimate of the amounts required to settle the obligation at reporting date.

Cash on Hand Cash and cash equivalents include cash on hand, deposits held at-call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities on the assets and liabilities statement.

Revenue and Other Income Revenue is measured at the fair value of the consideration received or receivable after taking into account any trade discounts and volume rebates allowed. For this purpose, deferred consideration is not discounted to present values when recognising revenue.

Revenue from the sale of goods is recognised at the point of delivery as this corresponds to the transfer of significant risks and rewards of ownership of the goods and cessation of all involvement in those goods.

Interest revenue is recognised using the effective interest rate method, which of floating rate financial assets is the rate inherent in the instrument.

Revenue from the provision of membership subscriptions is recognised on a straight line basis over the financial year.

Accounts Payable and Other Payables Accounts payable and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.

Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the assets and liabilities statement are shown inclusive of GST.

Cash flows are presented in the cash flow statement on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.


18

Notes to the Financial Statements for the Year Ended 30 June 2014

2. Revenue and Other Income 2014 2013 $ $ Revenue Sale of goods 5,946 16,052 Bookings 34,278 28,225 Membership 102,056 111,624 Event Management 2,064 (4,614) Grants 663,841 682,216 Marketing 445,544 526,064 __________ __________

1,253,729 1,359,567 __________ __________

Other Income Interest received 4,414 7,018 Management Fees - 43,560 Recoveries 5,931 - Profit/(loss) on sale of non-current assets - - Other revenue 5,069 2,658 __________ __________

15,414 53,236

__________ __________

Total Revenue: 1,269,143 1,412,803

3. Profit for the year

Expenses Finance costs: Hire purchase charges - - Interest paid 9,708 10,331 __________ __________

Total finance costs 9,708 10,331 __________ __________

Depreciation of Property, plant and equipment 38,802 39,103 __________ __________

Bad Debts Written Off - -

Provision for Doubtful Debts - 9,000 __________ __________ Leasing Charges Operating Rental – Lanier 3,577 3,577 __________ __________

3,577 3,577

4. Cash and Cash Equivalents

Cash on Hand 450 450 NAB Cheque Account 458,461 261,135 NAB LSL Account 42,626 41,264 NAB Business Cash Maximiser 61,571 33,395 NAB Money in Trust Account 61,825 54,886 __________ __________

624,933 391,130

19


2014 2013 $ $

4. Cash and Cash Equivalents (cont’d)

Reconciliation of Cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled to the related items in the statement of financial position as follows:

Cash and cash equivalents 624,933 391,130

5. Accounts Receivable

Current: Trade Debtors 143,653 83,721 Provision for Doubtful Debts - (9,900) Other Debtors 17,622 7,771 __________ __________

161,275 81,592 6. Inventories

Stock on Hand 1,232 605

7. Other Current Assets

Prepayments 5,221 4,278 Prepaid borrowings expenses - 105 __________ __________

5,221 4,383

8. Property, Plant and Equipment Land and Buildings

Land and Buildings Leasehold Improvements 982,337 982,337 Less: Accumulated Amortisation (171,913) (147,354) __________ __________

810,424 834,983 __________ __________

Total Land and Buildings 810,424 834,983

Motor Vehicles 22,081 22,081 Less: Accumulated Depreciation (16,959) (15,252) __________ __________

5,122 6,829 __________ __________

Office Furniture & Equipment 242,669 237,609 Less: Accumulated Depreciation (212,260) (199,724) __________ __________

30,409 37,885 __________ __________

Total Plant and Equipment 35,531 44,714 __________ __________

Total Property, Plant and Equipment 845,955 879,697

20


8. Property, Plant and Equipment Land and Buildings (cont’d)

Movements in Carrying Accounts

Movements in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year:

LEASEHOLD MOTOR OFFICE FURNITURE & TOTAL BUILDINGS VEHICLES EQUIPMENT $ $ $ $

2013

Balance at the beginning of the year 859,542 9,105 40,391 909,038 Additions at cost - - 9,762 9,762 Disposals & Transfers - - - - Depreciation expense (24,559) (2,276) (12,268) (39,103)

_________ _________ _________ _________

Carrying amount at end of the year 834,983 6,829 37,885 879,697

2014

Balance at the beginning of the year 834,983 6,829 37,885 879,697 Additions at cost - - 5,060 5,060 Disposals & Transfers - - - - Depreciation expense (24,559) (1,707) (12,536) (38,802) _________ _________ _________ ________

Carrying amount at end of the year 810,424 5,122 30,409 845,955


21


9. Accounts Payables and Other Payables 2014 2013 $ $ Current Trade Creditors 99,630 85,059 Other Creditors 12,430 13,210 Input Tax Credits (11,330) (20,851) GST Payable 28,039 23,846 GST Adjustments (906) (906) __________ __________

127,863 100,358

10. Borrowings

Current Loan Gosford City Council 19,702 19,702 Less: Future Interest Charges (9,043) (9,708) __________ __________

Total current borrowings 10,659 9,994

Non-Current Loan Gosford City Council 177,316 197,018 Less: Future Interest Charges (43,106) (52,149) __________ __________

Total non-current borrowings 134,210 144,869 __________ __________

Total Borrowings 144,869 154,863

11. Employee Benefits

Long Service Leave Entitlements 36,590 35,999 Annual Leave Entitlements 47,540 45,861 __________ __________

Total Provisions 84,130 81,860 __________ __________

Analysis of Total Employee Benefits Current 47,540 45,861 Non-current 36,590 35,999 __________ __________

84,130 81,860 __________ __________

Employee provisions represent amounts accrued for annual leave and long service leave.

22


12. Other Liabilities 2014 2013 $ $ Current

Accrued Charges 4,120 4,120

Bookings in Advance 58,927 60,615

_________ _________

63,047 64,735 _________ _________

13. Retained Earnings

Retained Earnings at the beginning of the financial year 955,591 901,353

Net profit/(loss) attributable to the association 263,116 54,238 _________ ________

Retained Earnings at the end of the financial year 1,218,707 955,591 _________ ________

14. Economic Dependence

The association is dependent upon the Grants received from Gosford City Council, Wyong Shire Council and Destination NSW. The association would not be able to provide all the current services without receipt of these grants.

15. Cash Flow Information

Reconciliation of Cash Flow from Operations with Profit after Income Tax.

Profit/(Loss) after income tax 263,116 54,238

Non-Cash flows in profit

Profit on sale of non-current assets - -

Loss on sale of non-current assets - -

Depreciation 38,802 39,103

Changes in net assets and liabilities, net of the effects of purchase and disposals of subsidiaries:

(Increase)/Decrease in current inventories (627) 407

(Increase)/Decrease in current receivables (79,683) (29,915)

(Increase)/Decrease in prepayments (838) 9,742

Increase/(Decrease) in creditors 25,817 (50,182)

Increase/(Decrease) in provisions 2,270 (20,992) ________ ________

Cash flows provided by operating activities 248,857 2,401

________ ________

23

Statement by Members of the Committee

In the opinion of the committee the financial statements as set out on pages 14 to 24:

1. Presents fairly the financial position of Central Coast Tourism Incorporated as at 30 June 2014 and its performance for the year ended on that date in accordance with Australian Accounting Standards, mandatory professional reporting requirements and other authoritative pronouncements of the Australian Accounting Standards Board.

2. At the date of this statement, there are reasonable grounds to believe that Central Coast Tourism Incorporated will be able to pay its debts as and when they fall due.

This statement is made in accordance with a resolution of the committee and is signed for and on behalf of the committee by:

Chairperson: Sandra Kerr Treasurer: Craig Ellis



16. Financial Risk Management

The association’s financial instruments consists mainly of deposits with banks, local money market instruments, short-term investments, accounts receivable and payable, loans to and from subsidiaries, bills and leases.

The totals for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements are as follows:

2014 2013 $ $

Financial Assets

Cash on Hand 624,933 391,130

Loans and receivables 161,275 81,592 _________ __________

Total Financial Assets 786,208 472,722 _________ __________

Financial Liabilities

Trade and other payables 127,863 100,358

Borrowings 144,869 154,863 _________ __________

Total Financial Liabilities 272,732 255,221 _________ __________

Financial Risk Management Policies

The Committee’s overall risk management strategy seeks to assist the association in meeting its financial targets, whilst minimising potential adverse effects on financial performance.

Risk management policies are approved and reviewed by the committee on a regular basis. These included the credit risk policies and future cash flow requirements.

The association does not have any derivative instruments at 30 June 2014.

17. Association Details

The registered office of the association is: 52 The Avenue Mt Penang Parklands Kariong NSW 2250

The principal place of business is: 52 The Avenue Mt Penang Parklands Kariong NSW 2250

24

Independent Auditor’s Report To The Members of Central Coast Tourism Incorporated

Report on the Financial Report

We have audited the accompanying financial report of Central Coast Tourism Incorporated (the association) which comprises the Statement of Assets and Liabilities as at 30 June 2014, the Statement of Comprehensive Income for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the statement by members of the committee.

Committee’s Responsibility for the Financial Report

The committee of the association is responsible for the preparation of the financial report, and has determined that the basis of preparation described in Note 1 is appropriate to meet the requirements of the Australian Accounting Standards (including the Australian Accounting Interpretations) and is appropriate to meet the needs of the members. The committee’s responsibility also includes such internal controls as the committee determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We have conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the association’s preparation of the financial report that gives a true and fair view, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the association’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the committee, as well as evaluating the overall presentation of the financial report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence

In conducting our audit, we have complied with the independence requirements of Australian professional ethical pronouncements.

Auditors Opinion

In our opinion, the financial report of the association is in accordance with the Associations Incorporation Act NSW 2009 including:

(i) Giving a true and fair view of the Association’s financial position as at 30 June 2014 and of their performance and cash flows for the year ended on that date; and

(ii) Complying with the Australian Accounting Standards (including Australian Accounting Interpretations) and the Associations Incorporation Act NSW 2009.

FORTUNITY ASSURANCE

T R Davidson FCA, RCA, CTA, SSAud Partner

Registered Company Auditor No. 1177

ICAA No. 24349

155 The Entrance Road, ERINA NSW 2250


Liability limited to a scheme approved under Professional Standards Legislation

25

Profit and Loss Statement for the Year Ended 30 June 2014

2014 2013 $ $ SALES

Sales 5,946 16,052 Bookings 34,278 28,225 Membership 102,056 111,624 Events Coordination 2,064 (4,614) Grants – Operational 663,841 682,216 Marketing 445,544 526,064 _________ _________

1,253,729 1,359,567 _________ _________

LESS: DIRECT COSTS

Opening Stock 605 1,012 Purchases 2,874 1,664 Booking Commissions 5,356 5,261 Membership Subscriptions 9,178 8,135 Events Coordination, Sponsorship & Support 9,308 11,607 Marketing Costs 166,110 474,685 Closing Stock (1,232) (605) International Marketing & Trade Shows 51,764 37,091 _________ __________

243,963 538,850 _________ __________

LESS: EMPLOYEE BENEFITS

Direct Salaries & Wages 492,752 519,197 Fringe Benefits Tax 4,097 7,936 Payroll Tax - (211) Staffing Expenditure 5,898 9,565 Superannuation 45,043 48,011 Travelling Expenses 143 2,068 Volunteer Expenses 1,668 2,209 __________ __________

549,601 588,775 __________ __________

GROSS PROFIT/(LOSS) 460,165 231,942 __________ __________

OTHER INCOME

Interest Received 4,414 7,018 Management Fees - 43,560 Recoveries 5,931 - Other Revenue 5,069 2,658 Profit on Sale of Non-current Assets - - ________ ________

15,414 53,236

________ ________

475,579 285,178 ________ ________

The accompanying notes form part of these financial statements

26

Profit and Loss Statement for the Year Ended 30 June 2014

2014 2013 $ $

EXPENSES

Administration Costs 13,269 7,394

Auditor’s Remuneration 9,100 14,950

Bad Debts Written Off 660 -

Bank Charges 7,783 6,045

Bookkeeping Fees 10,815 11,040

Borrowing Costs 105 150

Cleaning 8,759 8,015

Computer Expenses 22,518 19,620

Consultancy Fees - -

Depreciation 38,802 39,103

Electricity 9,056 10,301

Insurance 14,009 14,958

Interest Paid 9,708 10,331

Leasing Charges 3,577 3,577

Motor Vehicle Expenses 11,106 13,282

Permits, Licences & Fees 263 373

Petty Cash Expenditure 10 313

Postage 5,048 8,833

Printing & Stationery 3,556 4,650

Provision for Doubtful Debts - 9,000

Rent 3,000 2,750

Repairs & Maintenance 17,636 19,138

Security Costs 1,765 1,168

Telephone 19,069 22,956

Tourism Awards 2,849 2,993 ________ ________

212,463 230,940 ________ ________

Net Operating Profit (Loss) 263,116 54,238 ________ ________

Retained earnings at the beginning of the financial year 955,591 901,353 _________ _______

Retained earnings at the end of the financial year 1,218,707 955,591 _________ ________

The accompanying notes form part of these financial statements

27

Phone: (02) 4343 4400 Fax: (02) 4343 4422 Email: [email protected] Website: www.visitcentralcoast.com.au

central coast tourism annual report 2013-14

Documents

central coast of nsw

strong visitor economy

dynamic visitor economy

new year

fellow board members

review of board governance

memorable visitor experiences

future growth