2016 Annual Report by SydneyDanceCompany

Sydney Dance Company

Annual Report 2016

Contents

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Annual Report 2016

Contents

Chair’s Report Executive Director’s Report Artistic Director’s Report 2016 Repertoire Performance Schedule 2016 Reach Global Footprint Education & Outreach The Company Sydney Dance Company Partners Sydney Dance Company Sponsors Performance Against Goals Key Performance Indicators Corporate Governance Annual Financial Report

Chair’s Report

It is with great pride that I write this Chair’s report for the 2016 Annual Report of Sydney Dance Company.

9 new works 5 new music commissions 16 works in repertoire

Having made the decision to hand over to Karen Moses in December last year, it is an opportune moment to reflect on the extraordinary impact and reach of Sydney Dance Company. That impact can be measured in many ways, and the measures are included further in this annual report. What is harder to quantify is the impact of the Company and its art on the lives of those who witness it, are moved by and have the extraordinary opportunity to share, as I have, the creative process whereby an idea or an emotion is transcribed onto bodies and transformed into dance. It is at the very heart of everything the Company does and all it has achieved in this last year as well as all of the years I have been involved with Sydney Dance Company. That is the compelling start of the relationship that we have with so many of our partners, supporters and donors and I want to take this opportunity to thank them for their generosity. The contribution that each makes to Sydney Dance Company is a vital piece that allows the organisation as a whole to flourish. I would also like to thank our government partners for their ongoing support. We are very pleased to have support from all tiers of government. Sydney Dance Company has a remit to take the performing arts to regional audiences and around the globe and the ongoing support of Government is vital in being able to do that. We are proud to be a flag bearer for Australian culture when we tour internationally as we did in 2016 to Switzerland, Germany Brazil and Chile. We are equally proud of reaching audiences and inspiring young dancers across Australia through our regional touring program. It is pleasing to finish my term as Chair with the Company in such a strong position. The 2016 result is a reflection on the significant work that has gone into strengthening the Company’s philanthropic program and setting the Company up for future. It is also a time that has seen Sydney Dance Company re-emerge on the world stage as one of Australia’s most successful cultural ambassadors, a point that I am particularly proud of. I would like to thank my Board colleagues for their work and support. It has been a pleasure and a privilege to serve as Chair of Sydney Dance Company and I wish the Board, Rafael Bonachela, Anne Dunn and the entire Company every success into the future.

Andrew Messenger Chair

Annual Report 2016

Chair's Report

Executive Directorâ&#x20AC;&#x2122;s Report 9% growth in turnover 10,280 young people were engaged Total audience of 48,035 people

Annual Report 2016

Executive Directors Report

“The schools’ outreach program reached a record number of young people right across the country, introducing many of them to contemporary dance for the very first time.”

Sydney Dance Company approached 2016 with an energetic spirit which once more saw the company deliver exceptional performances, reach an impressive number of young people and deliver strongly on its Key Performance Indicators. The company undertook an extensive national tour that reached audiences across 5 states and territories. That national tour continued Sydney Dance Company’s commitment to regional audiences. The impact of the tour was bolstered by the work done by our teaching artists who, with the support of foundation funding, were able to travel ahead of the company and deliver workshops to young people across the country. This important work is just one part of our extensive outreach and access programs. These programs reached over 10 000 young people via workshop, school holiday programs and school matinees. Our open adult classes reached an incredible 69,871 attendees. We are delighted that so many Australians, from the age of 8 to eighty years, dance with us. Sydney Dance Company takes seriously our role of leadership and support for the artform and the artists of the contemporary dance sector. We are very pleased to have been able to offer employment to over 130 casual dance teachers who have taught across our company technique classes, extensive open class program, school holiday and DancED schools programs. We are proud to have staged works by 11 Australian choreographers in 2016. It was a busy year for the dancer ensemble with 89 performances reaching an audience of just over 44 000 people. A further 3,930 people were able to experience the creative work of Sydney Dance Company via our first European Co-commission. Rafael Bonachela’s Lux Tenebris was set on the Dresden Frankfurt Dance Company just months after it finished its run in Australia. This type of collaboration ensures that, whilst we simply can’t squeeze any more performances into the dancers’ schedule, the work we create will reach even more people. I would like to thank the Board of Sydney Dance Company for their support and guidance, in particular Andrew Messenger who stepped down from the Board and role of Chair in December 2016. Andrew has been an ardent supporter of the Company at all levels and I thank him for his enthusiasm, time and commitment over the years he served on the Board. I would also like to thank Chrissy Sharp, who stepped into my role for 8 months in 2016 whilst I took maternity leave.

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I would also like to acknowledge the contribution and expertise that both the Education Advisory Panel and the Dance Noir Fundraising Committee give to Sydney Dance Company. It was a delight to begin and end the year with the thrill of new commissions and extraordinary dance works just around the corner and surrounded as always by a passionate, dedicated and talented team.

Anne Dunn Executive Director

Annual Report 2016

Executive Director’s Report

Artistic Director’s Report “I also can’t thank our donors and sponsors enough; your belief in what we do is invaluable.”

Annual Report 2016

Artistic Director's Report

When I reflect on 2016 I am reminded of just how hard working, dedicated and focused the dancers and team at Sydney Dance Company are. It was a year filled with a rich array of artistic highlights including local, national and international tours, a total of 89 performances and the delivery of an exciting education program. The year began with the exhilarating double bill, CounterMove, showcasing the dancers in my world premiere, Lux Tenebris, an exploration of light and dark to electronic beats composed by Nick Wales. I was delighted to couple Lux Tenebris with the return of Cacti by Alexander Ekman, a crowd-pleasing, energetic and laugh out loud work. After its Sydney premiere, CounterMove travelled on to eagerly awaiting audiences at the Canberra Theatre Centre and Southbank Theatre in Melbourne, before embarking on its regional tour to 16 venues across the country.

I would like to say a huge thank you to the Board of Sydney Dance Company for their guidance, support and commitment. I also can’t thank our donors and sponsors enough; your belief in what we do is invaluable. To the team I am surrounded by each day, from production to administration and everyone in between: I am so grateful to work with such an incredibly dedicated and passionate group of individuals. It is a pleasure to be a part of a Company that strives to extend its reach and impact all around the world. To my dancers: I am inspired daily by your hard work and the uplifting performances you consistently deliver. Thank you.

Rafael Bonachela Artistic Director

Lux Tenebris was created as a co-production with the Dresden Frankfurt Dance Company. I was delighted to spend time in Frankfurt setting the work on the dancers of that Company ahead of its European premiere at Bockenheimer Depot, in Frankfurt with a season of five performances before transferring to Dresden. It was the first time Sydney Dance Company had undertaken a European co-production and it was wonderful to be able to do so with such an impressive company. Sydney Dance Company was proud to present the triple bill Interplay at the prestigious Steps Festival in Switzerland and Germany. Steps Festival is Switzerland’s largest contemporary dance biennale and it was an absolute privilege to be invited for the 2016 season. The dancers exceeded themselves in their delivery of this high-energy program of works by Gideon Obarzanek, Jacopo Godani and me. Steps Festival is a unique festival model in that it rotates artists on a 10-city touring circuit around the country, so it was a terrific opportunity to undertake an extensive tour of Switzerland. The second leg of that international tour was in South America where the same program was presented in Brazil as part of the Australia Now program, in conjunction with the Department of Foreign Affairs and Trade, before finishing the tour in Santiago, Chile. In October, we welcomed back Australian choreographer, Gabrielle Nankivell, to rehearse her work Wildebeest for our second season of the year Untamed. After making its debt as part of the 2014 New Breed program, it was a delight to bring Wildebeest back to the stage. The companion piece was my own, Anima, a work of vivid colour and strong spirit. Clemens Habicht’s lighting design immersed me into a world of visual discovery, whilst Dobrinka Tabakova’s alluring and vibrant concerto for cello and strings was the perfect aural accompaniment. New Breed, our annual program supported by the Balnaves Foundation and presented in conjunction with Carriageworks, finished off the year for the dancers. Each year I am delighted to be able to commission four choreographers for this platform program and the 2016 edition showcased Rachel Arianne Ogle, Shian Law, Jesse Scales and Richard Cilli. This year’s edition was made even more interesting by the addition of 79 volunteer performers who were an instrumental part of Shian’s piece. Annual Report 2016

Artistic Director's Report

2016 Performance Repertoire

Lux Tenebris CounterMove

Choreography Rafael Bonachela Composer Nick Wales Lighting Design Benjamin Cisterne Dancers Sydney Dance Company

‘ Utterly mesmerising’ — The Guardian

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repetoire

Cacti CounterMove

Choreography and Costumes Alexander Ekman

‘ Dance can be fun.’ — Sydney Morning Herald

Stage Design Alexander Ekman Thomas Visser

‘Infectious playful energy and absolutely incisive wit.’ — Time Out Sydney

Lighting Design Thomas Visser Lyrics Spenser Theberge Dancers Sydney Dance Company

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repertoire

2 in D Minor Interplay

Choreography Rafael Bonachela

Costume Realisation Fiona Holley

Music JS Bach Nick Wales

Stage & Lighting Design Benjamin Cisterne

Violinist Veronique Serret Costume Design Rafael Bonachela

Dancers Sydney Dance Company ‘Super - charged program... it is danced with crackling energy and virtuosity by the company and showcased with flair.’ — Sydney Morning Herald

Photo: Wendell Teodoro

Annual Report 2016

2016 Performance Repertoire

Raw Models Interplay

Choreography Jacopo Godani

Costume & Lighting Design Jacopo Godani

Music 48nord  Ulrich Mueller Siegfried Roessert

Costume Realisation Claire-Louise Rasmussen Dancers Sydney Dance Company ‘Sexy septet that absolutely explodes out of its boxy black set... a visual knock out’. — Sunday Herald Sun

Photo: Wendell Teodoro

Annual Report 2016

2016 Performance Repertoire

L’Chaim! Interplay

Choreography Gideon Obarzanek

Dramaturg David Woods

Composer Stefan Gregory

Actor Gideon Obarzanek

Costume Design Harriet Oxley

Dancers Sydney Dance Company

Stage & Lighting Design Benjamin Cisterne

Photo: Wendell Teodoro

Annual Report 2016

2016 Performance Repertoire

Anima Untamed

Choreography Rafael Bonachela

‘The standing ovation was testament to the dancer’s skill and beauty of movement and its power to move, entrance and transport the viewer to something less ordinary.’ — Daily Telegraph

Visual Design Clemens Habicht Composer Dobrinka Tabakova Costume Design Aleisa Jelbart Lighting Design Benjamin Cisterne Dancers Sydney Dance Company

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repertoire

Wildebeest Untamed

Choreography Gabrielle Nankivell Costume Design Fiona Holley Sound Design & Composer Luke Smiles, motion laboratories

‘ Every time you might think the Sydney Dance Company performers have reached their peak, they push their abilities up another notch’ — Sydney Morning Herald

Lighting Design Benjamin Cisterne Dancers Sydney Dance Company

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repertoire

What You See New Breed

Choreography Jesse Scales

‘Scales has an appealing delicacy of touch and feeling’. — The Australian

Composer Max Richter Lighting Design Benjamin Cisterne Dancers Sydney Dance Company

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repertoire

Hinterland New Breed

Choreography Richard Cilli

Costume Realisation Wendy James

Music Années de pèlerinage I, S.160: I. Chappelle de ‘Guillaume Tell’ — Franz Liszt, performed by Lazar Berman

Lighting Design Benjamin Cisterne Dancers Sydney Dance Company

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repertoire

Of Dust New Breed

Choreography Rachel Arianne Ogle

‘ Links, binds, revolves and releases the five dancers in quite extraordinary ensemble partnering.’ — Sydney Morning Herald

Composer Ned Beckley Lighting Design Benjamin Cisterne Dancers Sydney Dance Company

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repertoire

Epic Theatre New Breed

Choreography Shian Law

‘ Boundaries are not only pushed, they’re bent, buckled and broken in a joyful celebration of the extended possibilities of the art form.’ — Limelight Magazine

Composer Marco Cher-Gibard Lighting Design Benjamin Cisterne Dancers Sydney Dance Company

Photo: Pedro Greig

Annual Report 2016

2016 Performance Repertoire

Like a Salmon in the Sahara PPY16 Revealed

Choreography Zachary Lopez Composers Wally Johnson & Bob Brown, Give Me a Home Among the Gum Trees; Alva Noto, 2011 Uni Asymmetric LII; Cye Wood, IsitokĂŁ

Dancers 2016 Pre-Professional Year students

Photo: Gez Xavier Mansfield

Annual Report 2016

2016 Performance Repertoire

Pieces of Cella PPY16 Revealed

Choreography Narelle Benjamin

Costume Realisation Fiona Holley

Music Colleen, Golden Morning Breaks and Iâ&#x20AC;&#x2122;ll read you a story (from the album Golden Morning Breaks)

Dancers 2016 Pre-Professional Year students

Stage & Lighting Design Ben Cisterne

Photo: Gez Xavier Mansfield

Annual Report 2016

2016 Performance Repertoire

corporare PPY16 Revealed

Choreography Thomas Bradley Composer Thomas Bradley Lighting Design Ben Cisterne

Costume Realisation Thomas Bradley Fiona Holley Dancers 2016 Pre-Professional Year students

Photo: Gez Xavier Mansfield

Annual Report 2016

2016 Performance Repertoire

Pacific PPY16 Revealed

Choreography Kristina Chan

Stage & Lighting Design Ben Cisterne

Music Pan Sonic (Vainamoisen uni /Vaninamor from Gravitoni), Laptevinmeri/Laptev sea (from Katodivaihe/Cathodephase), Riimu/Halter (from Kesto).

Costume Realisation Fiona Holley Dancers 2016 Pre-Professional Year students

Photo: Gez Xavier Mansfield

Annual Report 2016

2016 Performance Repertoire

2 One Another (Excerpt) PPY16 Revealed

Choreography Rafael Bonachela

Text Samuel Webster

Costume Design Tony Assness

Costume Design Consultant Peter Simon Phillips

Lighting Design Benjamin Cisterne

Costume Realisation Fiona Holley

Original Music Nick Wales

Dancers 2016 Pre-Professional Year students

Photo: Gez Xavier Mansfield

Annual Report 2016

2016 Performance Repertoire

“The dancers are fantastic…. The dancing is terrific.” — Sydney Morning Herald

2016 Performance Schedule

26 February–12 March Roslyn Packer Theatre, Sydney 16 performances, Countermove 8 April Lugano Arte e Cultura, Lugano, Switzerland 1 performance, Interplay 10 April Théâtre Equilibre, Fribourg, Switzerland 1 performance, Interplay 13 April Burghof, Lörrach, Germany 1 performance, Interplay 15 April Theater 11, Zurich, Switzerland 1 performance, Interplay 17 April Theatre Casino, Zug, Switzerland 1 performance, Interplay 20 April Théâtre du Crochetan, Monthey, Switzerland 1 performance, Interplay 23 April Théâtre du Passage, Neuchâtel, Switzerland 1 performance, Interplay 29–30 April Vila Mariana, São Paulo, Brazil 2 performances, Interplay 2–4 May Teatro Oriente, Santiago, Chile 3 performances, Interplay 19–21 May Canberra Theatre Centre, ACT 4 performances, CounterMove 25 May–4 June Southbank Theatre, VIC 11 performances, CounterMove 17–18 June Illawarra Performing Arts Centre, Wollongong, NSW 3 performances, CounterMove 22 June Orange Civic Centre, NSW 1 performance, CounterMove 25 June Newcastle Civic Centre, NSW 1 performance, CounterMove 29 June Glasshouse Port Macquarie, NSW 1 performance, CounterMove

Annual Report 2016

2 July Pilbeam Theatre, Rockhampton, QLD 1 performance, CounterMove 6 July Gladstone Entertainment Centre, QLD 1 performance, CounterMove 9–10 July Centre of Contemporary Arts, Cairns, QLD 2 performances, CounterMove 15–16 July The Arts Centre, Gold Coast, QLD 2 performances, CounterMove 29 July Darwin Entertainment Centre, NT 2 performances, CounterMove 3 August Queens Park Theatre, Geraldton, WA 1 performance, CounterMove 6 August Mandurah Performing Arts Centre, WA 1 performance, CounterMove 9 August Albany Entertainment Centre, WA 1 performance, CounterMove 13 August Bunbury Entertainment Centre, WA 1 performance, CounterMove 20 August Bathurst Memorial Entertainment Centre, NSW 1 performance, CounterMove 24 August Griffith Regional Theatre, NSW 1 performance, CounterMove 27 August Dubbo Regional Theatre, NSW 1 performance, CounterMove 18–29 October Roslyn Packer Theatre Walsh Bay, Sydney, NSW 12 performances, Untamed 29 November –10 December Carriageworks, Sydney, NSW 10 performances, New Breed 6–8 December Carriageworks, Sydney, NSW 3 performances, PPY Revealed

2016 Performance Repertoire

2016 Reach

2016 Figures

89 performances

19 Australian towns and cities visited

3 Green Room Awards, 1 Australian Dance Award

12 International Performances

5 New Music Commissions

9 New works

2016 Figures

28 — 29

Attendance

Live Sydney Dance Company related activites: 132,642

Dance Class Attendance: 69,871

Young People Engaged: 10,280

Audience Members: 48,035

Annual Report 2016

2016 Figures

Social Media

Website Views: 792,970

www.

YouTube Views: 266,116

60% increase

Facebook Likes: 73,417

82% increase

Instagram Followers: 35,200

20% increase

40% increase

Twitter Followers: 13,000

6.5% increase

Annual Report 2016

2016 Figures

Global Footprint

Germany 1 Performance 3 Works

Switzerland 6 Performances 3 Works

Brazil 2 Performances 3 Works

Chile 3 Performances 3 Works

Annual Report 2016

2016 Figures

NSW (excl. Sydney) 9 Performances 2 Works

QLD 6 Performances 2 Works

NT 2 Performance 2 Works

Sydney 41 performances 15 works

WA 4 Performances 2 Works

Melbourne 11 Performances 2 Works

Canberra 4 performances 2 works

Annual Report 2016

2016 Figures

1 2 3

99% of first time audiences say theyâ&#x20AC;&#x2122;ll return. 94% of our audience said the performances they attended either lived up to or surpassed their expectations. 96% of our audience said their full Sydney Dance Company experience was either good, very good or excellent.

Photo: Pedro Greig

2016 Figures

Education & Outreach

Sydney Dance Companyâ&#x20AC;&#x2122;s education and outreach programs have continued to grow across 2016. Structured to provide multiple access points into the art-form of contemporary dance, the programs reach people from 8-80 years of age and cater for the young audience member with no dance training through to elite young pre-professionals.

Children and Young People 228 Education Activities

“The image of all my beautiful Year 10s improvising openly for the first time brought a tear to my eye. Sydney Dance Company created an environment where the students felt safe to express — to create.” — Teacher, Ormeau Woods QLD 8 school matinee performances reached 3, 855 students and teachers in Sydney, Melbourne, Canberra and Darwin School matinee performances provide a unique and valuable insight for school students to meet the dancers, hear from the creative team and see the behind-thescenes technical elements that go into staging a Sydney Dance Company performance. 179 workshops in 19 locations for 4858 students The extensive national workshop program continued to grow in 2016, allowing students from across Australia to participate in creative workshops and dance classes at their school or at the wharf studios. The support of the Thyne Reid Foundation enhanced this growth. Students had the opportunity to learn technique and Company repertoire, and became artists in their own right as they created and choreographed new movement. 1058 students in 31 school holiday workshops During each school holiday period, a series of workshops for 8-18 year olds were held at the wharf studios, providing classes in a range of dance styles. For the first time, an HSC composition workshop was added to the program to provide students with ways of approaching HSC Dance composition. 95 students in 8 contemporary youth term classes Contemporary Youth Term Classes were launched in April 2016 delivering a series of weekly classes across an 8 week term for 8-18 year olds. The classes cater for a range of dance abilities and are designed to be inclusive through a focus on improvisation and creative task work, along with technique development. 26 tertiary students in 1 intensive workshop week 12 students joined Sydney Dance Company on 1 secondment

Annual Report 2016

Education & Outreach

Dance Classes 3,648 drop-in classes in 14 styles 69,871 attendances 437 people in 18 short courses

Annual Report 2016

“The class was taught in a way that I really enjoyed. I had never attended a dance class before and the teacher broke everything down for us all when we needed. This was a really comfortable environment and I would recommend to friends.” — ‘Intro to’ short course participant, November 2016 Dance classes provide a point of access for Sydney Dance Company to a broad range of people and in 2016 the program of classes was extended to deliver introduction short courses in a range of styles for people who have never danced before. The courses run across 4 weeks allowing participants to build their foundation technique in a safe and supportive environment.

Education & Outreach

“Boundaries are not only pushed, they’re bent, buckled and broken in a joyful celebration of the extended possibilities of the art form.” — Limelight Magazine

Pre-Professional Year “What they share are focus, fearlessness and the discipline to perform as an ensemble.” — Jill Sykes, Sydney Morning Herald

Now in its 3rd year the Pre Professional Program (PPY) continues to develop and nurture the next generation of contemporary dancers and dance-makers. Twenty-two student dancers completed the course in 2016 coming from NSW, VIC, QLD, SA, NT and New Zealand. One student, Isaac Carroll, joined the Company as a trainee in September. Under the direction of Linda Gamblin, the year-long course focused on artistic development and professional career preparation. The dancers were exposed to a diversity of styles, approaches, expertise and practices through working with 35 teaching artists and guest choreographers from around Australia and the world including Ayman Harper, Melissa Toogood, Sue Healey, Lloyd Newson and Narelle Benjamin. For the first time, the PPY students worked with students from NAISDA College in an exchange over three days, with PPY dancers visiting NAISDA’s campus outside Gosford and NAISDA’s students visiting the Wharf studios. A highlight was learning cultural dances from the NAISDA students, and PPY dancers and teachers sharing a variety of movement language and improvisation skills. In November PPY dancers had the opportunity to perform in Heard:SYD choreographed by Nick Cave at Sydney Town Hall, Pitt Street Mall and Carriageworks. This was an important week for the dancers as they collaborated alongside local independent artists to deliver a large-scale outdoor performance artwork The PPY Revealed season ran from 6-8 December at Carriageworks, featuring new work from Thomas Bradley, Kristina Chan, Zachery Lopez, Narelle Benjamin and an excerpt from Rafael Bonachela’s 2 One Another. PPY continues to play a vital role in the contemporary dance industry, training new and emerging dancers and providing a platform for new work and creative development.

Annual Report 2016

Education & Outreach

The Company

Company Dancers

Annual Report 2016

Clockwise from left Juliette Barton Richard Cilli Holly Doyle Janessa Dufty Nelson Earl Cass Mortimer Eipper Bernhard Knauer Chloe Leong Daniel Roberts Jesse Scales

The Company

Todd Sutherland Latisha Sparks Petros Treklis Josephine Weise Charmene Yap Sam Young Wright David Mack Fiona Jopp Davide Di Giovanni Izzac Carroll (Trainee)

Sydney Dance Company

Board of Directors

Management

Chair Andrew Messenger (retired Dec 2016) Karen Moses (from Dec 2016)

Artistic Director Rafael Bonachela

Pamela Bartlett Peter Brownie Jean-Marc Carriol Brett Clegg Jane Freudenstein Kiera Grant Randal Marsh (until Feb 2016) Beau Neilson Carla Zampatti AC Catriona Mordant (from Dec 2016) Chrissy Sharp (from Dec 2016) Mark Hassell (from Feb 2017) Patron Darcey Bussell CBE

Executive Director Anne Dunn (maternity leave Feb – Sept 2016) Acting Executive Director Chrissy Sharp (Feb – Sept 2016) Deputy Executive Director Sean Radcliffe Producer Dominic Chang Executive Assistant Alexandra Cook (until Oct 2016) Tanya Veselcic (from Oct 2016) Accountant Melissa Sim

Ambassadors Judy Crawford Bee Hopkins Jules Maxwell

Payroll Assistant Carina Mision Business Consultant Bruce Cutler Development Director Lizzi Nicoll Business Development Manager Kate Munnelly Philanthropy Manager Michelle Boyle Patrons Manager Susan Wynne Manager CRM & Events Joshua Forward Development Coordinator Rohan Morris (from Jul 2016) Philanthropy Assistant Carina Martin Marketing Manager Zena Morellini Marketing Coordinator Anne Brito Marketing Assistant Lisa Dowdall (from Nov 2016) Publicist Julie Clark (until Jun 2016) Alexandra Barlow (from Jun 2016) Resident Multi-Media Artist Pedro Greig

Annual Report 2016

The Company

Director of Education & Outreach Caroline Spence Education Strategic Advisor Helen Cameron Course Director, Pre-Professional Year Linda Gamblin Course Supervisor, Pre-Professional Year Shane Carroll

Dancers’ Treatment & Care Company Doctor Dr. Michael Berger Sports & Exercise Physician Dr. James Lawrence Physiotherapists April-Rose Ferris Marko Becejski Maleeka Raynor Ashlea-Mary Cohen

2016 Dance Noir Committee Sydney Dance Company would like to thank the 2016 Dance Noir Committee:

Education Coordinators Emma Powell-El Gammal Katherine Duhigg (maternity leave from Jan 2016)

The Company

Education Assistant Heloise Cahill (from Jul – Dec 2016)

Juliette Barton Richard Cilli Holly Doyle Janessa Dufty Nelson Earl Cass Mortimer Eipper Bernhard Knauer Chloe Leong Daniel Roberts Jesse Scales Todd Sutherland Latisha Sparks Petros Treklis Josephine Weise Charmene Yap Sam Young-Wright David Mack (until May 2016) Fiona Jopp (until May 2016) Davide Di Giovanni (from Dec 2016) Izzac Carroll (Trainee)

Director, Dance Classes Ramon Doringo Studios Manager Tamara Wheeler (until Jul 2016) Public Programs Manager Polly Brett (from Aug 2016) Public Programs Coordinator Narelle Howarth Production Production Technical Director Guy Harding Stage Manager Simon Turner Production Technician Tony McCoy Head Mechanist John Shedden Production Assistant David Coleman Wardrobe Fiona Holley Wendy James Sylvia Rusin Jess Hodgkinson

Annual Report 2016

Associate Dancers Marlo Benjamin Isaac Di Natale Viola Iida Fiona Jopp Olivia Kingston Zachary Lopez David Mack Simon Plant Oliver Savariego

Rehearsal Director Chris Aubrey

Company Teachers Andrea Briody Craig Bary Linda Gamblin Sara Black Brooke Stamp Shane Carroll Alister Grant (accompanist) Catherine Goss Lucas Jervies Lee Johnston Philipe Klaus (accompanist) Kristina Chan Lisa Griffiths Paul Knobloch Simonne Smiles Nicola Wade Chris Aubrey

The Company

Co-Chairs Tina Johnson and Peter Reeve Pam Bartlett Hilary Burton Jean-Marc Carriol Debbie Coffey Ally Considine Jade Coppleson Vitek Czernuszyn Alexa Haslingden Terry Kaljo Paul Kelly Jan Logan Jane McCallum Chris Paxton Karin Upton-Baker Judi Wolf Education Advisory Board Helen Cameron Susan Rix Julie Dyson Lesley Graham Ruth Osborne

Sydney Dance Company Partners

Sydney Dance Company Partners Sydney Dance Companyâ&#x20AC;&#x2122;s Partners provide the vital support we need to commission new works, share them with audiences around Australia and overseas, grow our education program and support emerging talent. We would like to thank all those who have contributed to our Commissioning Fund, Touring Fund, Education Fund and Partner Program. We would also like to thank all of our Partners who wish to remain anonymous. Platinum Partners Robert Albert AO and Elizabeth Albert The Balnaves Foundation Crown Resorts Foundation Julian Knights AO and Lizanne Knights Andrew Messenger Judith Neilson AM The Neilson Foundation Gretel Packer Packer Family Foundation Thyne Reid Foundation The Wales Family Foundation Carla Zampatti Foundation Performance Partners $20,000+ Manuela Darling-Gansser and Michael Darling Sandra McCullagh (in tribute to my mum) Karen Moses Nelson Meers Foundation Kerr Neilson Roslyn Packer AC Rebel Penfold-Russell OAM The Turnbull Foundation Emma Zuber Studio Partners $10,000+ The Agnew Family Pam and Doug Bartlett Colin Bell and Donna-May Bolinger Black Diamondz Property Concierge Paul Brady and Christine Yip Jillian Broadbent AO and Olev Rahn Peter and Liz Brownie Janice and Tony Burke Brett Clegg and Annabel Hepworth Peter Clemenger AO and Joan Clemenger AO Andrew and Jane Clifford Jade and Richard Coppleson Dr Michelle Deaker Susie Dickson and Martin Dickson AM Doug Hall Foundation Talita Estelle Tim Fairfax AC Jane and Richard Freudenstein Kiera Grant and Mark Tallis John and Frances Ingham Sarah and Robby Ingham Key Foundation Susan Maple-Brown AM and the late Robert Maple-Brown AO Jules Maxwell Beau Neilson and Jeffrey Simpson Erin Ostadal and the late Billy Ostadal John Prescott AC and Jennifer Prescott CA Scala and DB Studdy Bianca Spender Alden Toevs and Judi Wolf Alastair J M Walton

Annual Report 2016

The Company

Yang Yang Di Yeldham Duet Partners $5,000+ Aidan and Aleks Allen Australia China Art Foundation Dr Richard Balanson and Dawn Talbot Carrie and Steve Bellotti Andrew Cameron AM and Cathy Cameron Jean-Marc and Kirsten Carriol Peter Chadwick Judy Crawford Cullman Fund James and Jacqui Erskine Paul and Roslyn Espie George Frazis Chris and Tony Froggatt Mark Hassell Rose Herceg Fraser Hopkins Belinda Hutchinson AM and Roger Massy-Greene Donna and Carl Jackson Tina and Mark Johnson John Kaldor AO Dr Paul Kelly Jennifer Kwok Macquarie Group Foundation Alexandra Martin in Memory of Lloyd Martin AM The Alexandra and Lloyd Martin Family Foundation Carina Martin David Mathlin and Camilla Drover Jane McCallum Nikki and Paul McCullagh Julie McNab Naomi Milgrom Foundation Paris Neilson and Todd Buncombe peckvonhartel architects Matthew and Fiona Playfair Peter Reeve and Jaycen Fletcher Penelope Seidler AM Peter and Victoria Shorthouse Leslie Stern Victoria Taylor Ian Wallace and Kay Freedman The Waypoint Group Sam and Judy Weiss Shemara Wikramanayake and Ed Gilmartin

David Jonas and Desmon Du Plessis Les Kennedy Susie Manfred and Hunter McPherson Robert McNamara and Bonnie McEneaney John and Ursula Moore Dr Gary Nicholls and Niall Barlow Chris Paxton Ezekiel Solomon AM Mark Stanbridge Jan Sundell Vanessa Tay Stephen Thatcher Deborah Thomas and Vitek Czernuszyn UBS Foundation Eduardo and Maria Villa John S Walton AM Adriana and Daniel Weiss Sarah Whyte Maggie Wong

Dance Partners $2,000+ Paul Bedbrook and Fiona Hopkins Andrew Bird and Alexandra Holcomb Bird John and Susan Blue Jane Bridge Hilary Burton and Craig Goodman Prof Malcolm Coppleson AO Mark Coppleson and Victoria Morish Genevieve and Jeff David Jonathan Dempsey Drysdale Family Chris and Raquel Ellis Suellen and Ron Enestrom Annalise Fairfax Ian Galloway and Linda Treadwell Girgensohn Foundation Bradford Gorman and Dean Fontana Gabrielle Iwanow Martine Jager

Rehearsal Partners $1,000+ Lenore and Ross Adamson Antoinette Albert John Armati OAM and Kate Armati Ralph Ashton Berg Family Foundation Christine Bishop Maxine Brenner and Jodee Rich Philip and Catherine Brenner Dr Catherine A Brown-Watt Antony Bullimore Lucy Calabria Christine and Robert Camping Michael Chisholm Janine Collins Rob Coombe Camilla and Rob Cropper Matt and Brooke Daniel Jane Douglass AM Fivex Commercial Property Jacqueline Galbraith and Michael Harvey Amber Gooley Rosemary Grant Mandy Gray Ben Harlow John Head Rachelle Hofbauer Sue Hoopmann Melissa Hoyer Charles and Joey Hue-Williams Sarah Hue-Williams Deborah Humble Michael Ihlein Allen Iu and Bernadette Walker Tony Jones Elias and Jana Juanas Virginia Judge Josephine Key and Ian Breden Joanne Killen David and Skye Leckie Marina and Richard Leong Charlotte and Adrian Mackenzie Andrew and Del McGuiness Michael and Deborah Mills Marion Pascoe Joe and Bronte Pollard Alison Hulett and Alex Popov Greeba Pritchard

Annual Report 2016

The Company

Kate Richardson and Chris Marrable Philip and Carolyn Rossi Emma and Duncan Snodgrass Janine Stewart Howard and Mary Tanner Mike Thompson Chris and Susie Townsend Richard and Athena Wagner Ray Wilson OAM Melissa Widner and Andrew Dent Adam Worling Public Relations Donna Woodhill Sami Yates

2016 Pre–Professional Year Scholarships Tim Fairfax AC Scholarship The Nicole Fizsimons Scholarship The Wales Family Foundation Scholarship Mary Zuber Scholarship Bequests The Estate of C.R. Adamson The Estate of Patricia Cameron-Stewart The Estate of Janet Fischer The Estate of Patricia Leehy The Estate of Peggy Watson (Raczkowska)

Ensemble Partners $250-$999 John Barrer Dr Cynthia Beckett and Gordon Smith Juliet Ashworth Ian Belgiorno-Zegna Steve Bennett Minnie Biggs Anne Marie Birkill and Nell Bartolo Sarah Brasch Krystina Burdekin on behalf of Gwendolyn Joyce Burdekin Jacqui Burton Catherine and Whitney Drayton Stephen Chase and Colette Baini Michael and Rhiannon Chisholm Min Li Chong Robert and Carmel Clark Davidov Partners Architects Paula Davies Dr Suresh de Silva and Dr Katja Beitat Catherine and Whitney Drayton Marilyn Anne Forbes Helen Forrester Angelos and Rebecca Frangopoulos Rachael Haggett Louise Hamshere Michael and Stacey Hill-Smith Nabeel and Marian Ibrahim Tammy Irvine Christopher and Nicky Joye John Griffiths and Beth Jackson The Teresa Johnson Ballet School Maureen and Keith Kerridge Robert Kidd Susan Kirby Margaret Lederman Macansh Family Jacqueline O’Brien Stephen O’Rourke James Ostroburski Mark Royle Norman R Scott Jillian Segal AM Natasha Stanley and Kingsley Smith Tim Steel Ross Steele AM Greta Thomas Stuart Thomas Guy Thompson David Thomson John and Gay Woods Susan Wynne

Annual Report 2016

The Company

Sponsors

Supporters American Tourister, Antipodes Water, Artbank, Contemporary Hotels, Elixir Health Clubs, Hermetica Flowers, Luxe City Guides, Pages, Pegasus Printing, Relais & Chateaux, Resolution X, Stedmans, Vitek Vodka.

Government Partners

Sydney Dance Company acknowledges the valuable contribution of its sponsors and partners and thanks them for their commitment and generosity.

New Breed Season Supporter

Pre-Professional Year Partner

Major Partners

Trusts & Foundations

Associate Partners

FOUNDATION

Government Supporters

Annual Report 2016

Industry Partner

The Company

Performance Against Goals

Sydney Dance Companyâ&#x20AC;&#x2122;s strategic plan focuses on 4 areas of activity. Each of these activity areas has an implementation plan designed to meet goals within that area. The 4 areas and their relevant initiatives and outcomes are outlined overleaf.

Performance Against Goals

1. Sydney Dance Company on the national and the international stage — touring, collaboration and market development.

Initiative

Outcome

1.1 International co-commissioning of new work

Successfully delivered a co-commissioned and co-produced new work Lux Tenebris, choreographed by Rafael Bonachela, composed by Nick Wales and lit by Ben Cisterne. Lux Tenebris was originally staged in Australia by Sydney Dance Company and then produced in Germany by the Dresden Frankfurt Dance Company.

1.2 M aintain existing and build new international touring markets

In 2016 Sydney Dance Company returned to Germany and Switzerland and toured for the first time to Brazil and Chile. Sydney Dance Company maintains agent representation in Europe and North America, markets to which the Company tours on a regular basis. The 2016 performances in Brazil were part of the Department of Foreign Affairs and Trade’s Australia Now focus country program. Those performances, and the performances in Chile, represent the second time in three years Sydney Dance Company has returned to South America. We have identified South America as an important new touring market and were pleased to be able to extend the network of presenters and audiences who know our work. 2016 also saw Sydney Dance Company continue to build networks and market familiarisation in Northern Asia.

1.3 Capital city touring strategy

Sydney Dance Company’s capital city touring strategy is based on touring annually to Melbourne and Canberra and seeking to tour to all other capital cities at least once every 2 years. In 2016 Sydney Dance Company toured to Canberra, Melbourne and Darwin in addition to Sydney presentations. As part of our biannual touring schedule, we were planning to tour to Perth in 2016 but were unable to due to venue maintenance and upgrades.

1.4 Melbourne market development

Sydney Dance Company continued to grow its presence, reach and reputation in Melbourne with a performance season of CounterMove at the Southbank Theatre. That season reached 4,321 people and was augmented by the delivery of master-classes and workshops to 382 people, including partnering with Ausdance for the delivery of an Industry day to 56 dancers.

Annual Report 2016

Performance Against Goals

Performance Against Goals (continued)

Initiative

Outcome

1.5 Maintain focus on regional touring

Sydney Dance Company’s regional touring in 2016 included performances in 16 towns and cities. National regional touring accounted for 32% of the Company’s performance weeks and was accompanied by extensive education and outreach activities. Across that period of touring, the Company delivered 111 workshops and master-classes and reached 2,951 young people, giving many of them their first ever introduction to contemporary dance. Sydney Dance Company was able to deliver those workshops by partnering with a foundation to support our regional education activity. 7 teaching artists have been contracted and trained to assist in delivery of additional education activity.

1.6 NSW State touring

NSW touring took in 8 towns and cities. These performances were supported by the delivery of 41 workshops and master-classes that reached 1,154 young people. NSW performances, including Sydney, accounted for 56% of Sydney Dance Company’s performances in 2016.

Annual Report 2016

Performance Against Goals

Performance Against Goals (continued)

2. Instilling innovation and excellence in contemporary dance â&#x20AC;&#x201D; developing the art form and investing in the future.

Initiative

Outcome

2.1 Curate and present a range of artistic voices

In 2016 Sydney Dance Company commissioned and presented 10 world premiere works by 9 choreographers. These artists ranged from experienced international guest artists through to works by young artists receiving their first commission. Our mainstage and touring presentations included works by Rafael Bonachela, Alexander Eckman, Jacopo Godani, Gideon Orbazanek and Gabrielle Nankivell. We were delighted to be able to commission works from a further 8 Australian artists to create work, either for the Companyâ&#x20AC;&#x2122;s New Breed Season or the Pre-Professional Yearâ&#x20AC;&#x2122;s graduation show.

2.2 International collaborations and engagement

We were delighted to partner with the Dresden Frankfurt Dance Company on our first European co-commission. Lux Tenebris, with an all-Australian creative team, was premiered by Sydney Dance Company in February and presented for 16 performances in Australia in 2016. The piece was then re-set and presented in Germany by the Dresden Frankfurt Dance Company for 11 performances. We also welcomed 5 international choreographers to our studios to work with our PPY students across 2016.

2.3 Collaborations across art forms

In 2016 we were delighted to work with composers Luke Smiles and Nick Wales on original compositions for Wildebeest and Lux Tenebris respectively. We were also pleased to work with a talented quartet of musicians for the national presentation of Cacti.

2.4 I nvest in developing Australian talent and progressing the art form

Sydney Dance Company continues to invest in developing Australian talent by commissioning emerging Australian choreographers and continuing to develop Australian dancers through our training programs and outreach activities. In 2016, 9 Australian choreographers were commissioned, as well as 9 composers and designers. Our annual New Breed program is specifically designed to give emerging-to early-career choreographers the opportunity to create and present work with the full support of the Company and the presentation support of Carriageworks. Through our PPY training program, we continue to develop Australian dancers to a high professional level. There were 22 graduates of the 2016 accredited Certificate IV course, as well as 4 commissioned works for their graduation performance.

Annual Report 2016

Performance Against Goals

Performance Against Goals (continued)

3. Growing our reach and relevance â&#x20AC;&#x201D; audience development through national and international performances, outreach, education, research and digital delivery.

Initiative

Outcome

3.1 Implement a detailed customer relationship management (CRM) plan to retain our existing audience, deepen our relationship with them and reduce audience churn

Using the Tessitura CRM system, implemented in 2014/2015, Sydney Dance Company has significantly increased its capacity to effectively manage relationships with audiences to our self-presented performances. There is now a full time CRM Manager on staff, allowing us to better segment data and target our audiences more effectively. This resulted in a 5% reduction in audience churn for our second Sydney season and increased capacity within our development team. 2016 saw development income increase by 30%.

3.2 I mplement a regional engagement program to be delivered alongside our regional touring activities

2016 saw the continuation and expansion of our regional education program. Our dancers and teaching artists delivered 111 workshops to 2,951 participants across 16 cities and towns. Additionally our performances were supported by teaching resource kits aimed at further supporting teachers to deliver curriculum-relevant tasks to their students.

3.3 Expand our education and outreach programs

With the assistance of our education advisory group, an audit of Sydney Dance Companyâ&#x20AC;&#x2122;s current educational and outreach activities has been conducted to assess impact, reach and relevance and to identify opportunities for growth. This has lead to a change in the mix of adult open classes and the introduction of new term classes for 8â&#x20AC;&#x201C;18 year olds.

Annual Report 2016

Performance Against Goals

Performance Against Goals (continued)

4. Securing the future of Sydney Dance Company â&#x20AC;&#x201D; organisational structuring to support the Companyâ&#x20AC;&#x2122;s long-term sustainability.

Initiative

Outcome

4.1 U ndertake a staffing structure review and restructure as necessary for the future

As Sydney Dance Company continues to grow and evolve, the staffing needs are being reassessed. In 2016 this has meant the expansion of the staffing structure to incorporate 4 new positions. The education department continued to expand with the position of Director of Education commencing in December 2015 and the position of Course Supervisor commencing with the Pre-Professional Year team. The marketing department also expanded with the addition of a 0.6 Marketing Assistant. The position of CRM Manager was filled internally as part of minor staffing structure realignment within the development team, which added a Development Coordinator to the mix. One young dancer was offered a traineeship from January. 10 associate dancers were contracted towards the end of 2016 to prepare for performances of works to be delivered early in 2017. This expansion of short-term contracts for dancers significantly increases the capacity of Sydney Dance Company to stage works beyond the schedule capacity of the full-time ensemble. It also provides employment opportunities for additional dancers and rehearsal staff. Further work needs to be done on developing the optimum structure for the producing and production teams to support these additional productions.

4.2 Create new self-generated revenue streams

Improving sustainability is core to the decision making processes at Sydney Dance Company; a key part of that is our aim to reduce reliance on government grants. This is done by creating new revenue streams and maximising the returns from existing streams. In 2016, Sydney Dance Company initiated a new program of dance classes for 8-18 year olds which take place on a term-by-term basis. Additionally, short-course introductory dance classes have been introduced. These short-course classes are designed to give beginners an introduction to our dance class offer in a friendly environment, with the aim of building customer retention and generating new revenue. Together these new initiatives increased self-generated revenue by $26,000.

Annual Report 2016

Performance Against Goals

Performance Against Goals (continued)

Initiative

Outcome

4.3 Finalize infrastructure needs for the next 20 years and develop a plan for business continuation during infrastructure upgrades

With planned work in the Walsh Bay Arts Precinct scheduled to commence in 2017/2018, business disruption is to be expected. Further information around the timelines and detail around impact will continue to inform strategic planning. In 2016 there was a significant amount of work done on finalising the infrastructure needs for our tenancy and putting plans in place for the best way to deal with future disruption. With a project of this scale, there is a significant amount of complexity and planning capacity has been somewhat hampered by shifting timelines and parameters. As the detail of the precinct plan emerges, it has become apparent that Sydney Dance Companyâ&#x20AC;&#x2122;s operations will be impacted to a greater degree that originally thought by work due to be undertaken in our neighboursâ&#x20AC;&#x2122; tenancies. Negotiations and discussions with Arts NSW continue. Work on plans to maximise customer retention during the building renovation process has commenced and will continue in 2017.

Annual Report 2016

Performance Against Goals

Key Performance Indicators

Audiences

2016

2015

2014

Sydney

16,011

17,159

15,298

Canberra

2,331

2,420

2,487

Melbourne

3,356

4,895

3,543

Paid Audiences

Brisbane

1,125

Perth

3,071

Darwin

689

932

Hobart

1,306

Adelaide

1,944

NSW Regional

2,710

Australia Regional excl NSW

2,791

3,122

3,740

7,971

10,407

3,659

3,259

4,923

4,109

39,118

47,108

38,782

6,234

2,000

International SDC sell-on of produced content Total Paid Audiences

1,750

Unpaid Audiences Free Festival Performances Other Unpaid Audiencesâ&#x20AC;&#x2030;2

8,917

9,633

9,076

Total Unpaid Audiences

8,917

15,867

11,076

Total Audiences

48,035

62,975

49,858

1 2

Lux Tenebris presented by Dresden Frankfurt Dance Company Includes sponsor and other complimentary tickets

Annual Report 2016

Key Performance Indicators

Performances

2016

2015

2014

Sydney

Canberra

Melbourne

Western Sydney

Brisbane Other State Capital Cities

NSW Regional

Australia Regional excl NSW

International

Other Performances

5 6

Total Performances

Seasons presented in Sydney

New dance commissions

New music commissions

Different works in repertoire during the year

Annual Report 2016

Key Performance Indicators

“It goes without saying that the Sydney Dance Company dancers are tremendous, one and all, in everything.” — The Australian

Photo: Pedro Greig

Key Performance Indicators

Education and Outreach

2016

2015

2014

School Matinees

In-School & Community Workshops and Masterclasses

158

110

In-studio School Workshops

Attendance at School Matinees

3,855

3,697

2,886

Attendance at in-school & Community School Workshops and Masterclasses

4,216

2,981

2,223

Attendance at in-studio School Workshops

642

912

1,347

Teacher attendance at all education events

487

458

391

Pre-Professional Year Students

Attendance in Open Dance Classes

69,871

68,453

70,688

Attendance at School Holiday Workshops

1,058

935

956

Sydney Dance Company premises visitation

171,614

168,067

168,228

Reach of SDC related live activities

132,643

144,357

129,370

Income

11,614,644

10,688,621

9,242,717

Expenses

11,057,296

10,173,244

9,073,598

Surplus

557,348

515,377

169,119

Annual Report 2016

Key Performance Indicators

Finance

Corporate Governance

This statement outlines the Sydney Dance Companyâ&#x20AC;&#x2122;s corporate governance practices and addresses the Essential Governance Practice Principles published and monitored by the Australia Council for the Arts. These principles are based on the recommendations published by the ASX Corporate Governance Council. As at 31 December 2016 Sydney Dance Company has achieved substantial compliance with the recommendations as outlined below; 1. Lay solid foundations for management and oversight Over the course of 2016 the Board continued to operate in line with the practises and principles set out in the Governance strategy contained within the strategic plan. 8 board meetings were held with an attendance rate of 78%. In addition board committees covering audit and risk, and marketing and commercial met regularly with senior management in order to assist in the discharge of the board approved strategy. The nominations and strategy committees met on an as needed basis. 2.

Structure the board to add value

Andrew Messenger served as Board Chair until he stood down from the Board on 8 December 2016. Karen Moses was appointed as Board Chair from that date. Randal Marsh resigned from the Board in February 2016. Two new board members, Catriona Mordant and Chrissy Sharp, joined the board in November and December 2016 respectively. Mark Hassell joined the Board in February 2017. There is a formal structure of board evaluation carried out on an annual basis between the chair and all board members. A Nominations Committee, comprised of board members and SDC management, meets annually or as needed to discuss skill gaps and propose potential new board members. 3.

Act Ethically and Responsibly

Sydney Dance Companyâ&#x20AC;&#x2122;s governance model is driven by both our constitution, Code of Conduct, Delegations of Authority, various formal policies and commitment to the principles and values as outlined in the strategic plan. 4.

Ensure diversity

Sydney Dance Company fosters an organisational culture that embraces diversity and is committed to diversity at all levels. This is not only evident in its staff and Company dancers, but also in its audiences. Sydney Dance Company ensures fair and open recruitment and selection practices at all levels and has adopted a flexible approach to work practices in order to assist employees to meet family responsibilities. No form of workplace discrimination, harassment, vilification or victimisation is tolerated.

Annual Report 2016

Corporate Governance

Safeguard integrity in all reporting

Sydney Dance Company has an active Audit and Risk Committee. The prime responsibility of this committee is to independently verify and safeguard the integrity of the Company’s financial reporting. It does this through: — Reviewing the annual budget and monthly management accounts and forecasts — Reviewing all financial reports and statements contained in the statutory accounts and recommending acceptance to the board — Reviewing the Company’s financial progress against its strategic plan — Evaluating the adequacy of the Company’s internal control system and procedures — Reviewing the audit plan and appropriateness of accounting policies The Committee meets with the external auditors at least once a year.

Remunerate fairly and responsibly

The Audit and Risk Committee functions as the remuneration committee on an annual and as needed basis, reviewing remuneration strategies with reference to both performance and industry standards. The Committee approves remuneration arrangements for the Executive Director and Artistic Director. Responsibility for recruitment and remuneration negotiations with administrative staff is delegated to the Executive Director. A conscientious effort is made to keep remuneration levels within industry norms. Negotiation for dancers’ levels of remuneration happen between the union and Management. 2016 represents the final year of the current 3-year dancer collective agreement.

Andrew Messenger Chair

The Committee requires the Executive Director and the Finance Director to attest in writing that the Company’s financial reports present a true and fair view of the Company’s financial condition and operational results and are in accordance with relevant accounting standards. The Committee meets at least 4 times per year, and on an as-needs basis. The Committee currently comprises Peter Brownie (Chair), Karen Moses, Kiera Grant and Chrissy Sharp with the Executive Director and the Finance Manager in attendance. The Board members of the committee have specific financial/accounting experience. All Board members have an open invitation to attend committee meetings. 6.

Engage with stakeholders

The Board recognises the legitimate interests of the many stakeholders and meets regularly with our funding stakeholders. The Company holds an Annual General Meeting for members. Our partners, donors and sponsors are listed and recognised on company marketing material and season programmes. Within the arts industry, SDC is considered a leader communicating with our dance class and performance audiences through social media and online engagement. The Board believes that the Directors and Management both recognise the legitimate interests of stakeholders and strive to service those interests. 7.

Recognise and manage risk

Risk analysis and management, including financial, health and safety and reputational risks, is undertaken by Management and reported regularly to the relevant committee. The Audit and Risk Committee oversights the risk management framework. A detailed risk management plan is included in the SDC 5 year strategic plan identifying the ten key risks to the Company’s future as well as listing controls and strategies to deal with each risk.

Annual Report 2016

Corporate Governance

General Purpose (RDR) Financial Report

SYDNEY DANCE COMPANY

Contents

Directors' report .................................................................................................................................................................... 2 Auditor's independence declaration …………….............................................................................................................. 8

Statement of profit or loss and other comprehensive income.............................................................................................................................. 9 Statement of financial position………………………..................................................................................................................................... 10 Statement of changes in equity ……………….................................................................................................................. 11 Statement of cash flows ………………………………………………………………………………………………………. 12 Notes to the financial statements ………………….......................................................................................................... 13 Governance statement……………………………………………………………………………………………………………………….. 27 Directors' declaration ……………........................................................................................................................................ 29 Independent auditor's report …………….….……………....…………………………………………………………….......... 30

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Directors' report Your directors submit their report for the year ended 31 December 2016. DIRECTORS The names of Sydney Dance Company's ("the Company") directors in office during the financial year and until the date of this report are as follows. Directors were in office for this entire period, unless otherwise stated. KAREN MOSES (CHAIR) PAMELA BARTLETT PETER BROWNIE JEAN-MARC CARRIOL BRETT CLEGG JANE FREUDENSTEIN KIERA GRANT MARK HASSELL CATRIONA MORDANT BEAU NEILSON CHRISSY SHARP CARLA ZAMPATTI AC ANDREW MESSENGER RANDAL MARSH

(Appointed as Chair: December 2016)

(Appointed: February 2017) (Appointed: December 2016) (Appointed: December 2016) (Resigned: December 2016) (Resigned: February 2016)

Qualifications, experience and special responsibilities KAREN MOSES (CHAIR) - B.Economics, Dip Education Director Charter Hall Group from September 2016 and Chair of the Audit and Risk Committee Director Orica Limited from July 2016 and member of the Audit and Risk Committee Director of Boral Limited from March 2016 and member of the Audit and Risk Committee and the Safety, Health and Environment Committee Director of SAS Trustee Corporation from May 2013 and Chair of the Risk and Audit Committee and member of the HR & Nominations Committee Director of Sydney Symphony Limited and Sydney Symphony Holdings Pty Limited from May 2012 and member of the Audit and Risk Committee Appointed Board Chair in December 2016 Member of the Audit and Risk Committee (Chair 22 April 2013 to 8 December 2016) Member of the Capital Campaign Committee Chair of the Nominations Committee Former Director of Origin Group companies Former Director Contact Energy Limited Expertise: Financial, strategic management, corporate governance PAMELA BARTLETT Founding member of The Marmalade Foundation, operating and funding Lou’s Place, a safe place for women. Former Executive Manager, American Express Company with 20 years’ experience in Card and Travelers Cheque Operations. Studied liberal arts and business administration. Appointed to Board in August 2012. Chair of SDC’s major fundraiser, Dance Noir in 2011, 2012 and 2013. Member of the Marketing and Commercial Activities Committee Expertise: Operational management, customer service, quality assurance, marketing and fundraising.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Directors' report (continued) DIRECTORS (continued) Qualifications, experience and special responsibilities (continued) PETER BROWNIE - B. Economics Managing Director, Luminis Partners Appointed to the Board in August 2012. Chair of the Audit and Risk Committee (Appointed Chair in February 2017) Expertise: Finance, strategy, management, corporate contacts JEAN-MARC CARRIOL - B.A. International Relations – Commerce, Brown University, Providence, R.I, USA Chair, Saint Germain Holdings Deputy Chair, Trimex group (1996- 2014) Managing Director, Trimex group (2004- 2014) Federal Executive Director, French- Australian Chamber of Commerce (1993-1996) Board of directors of the International French School of Sydney (2013/2014) ‘Look Good- Feel better’ cancer charity (1996-2012) Appointed to the Board January 2011 Member of the Marketing and Commercial Activities Committee Member of the Nominations Committee Member of Dance Noir Committee Expertise: Strategic management, fundraising, sales & marketing, event management, charity and not-for-profit management, corporate contacts. BRETT CLEGG - B. Business (University of Technology, Sydney) Masters of Commerce in Advanced Finance (University of NSW) Senior Executive – News Corp Australia Appointed to the board in March 2015 Member of the Marketing and Commercial Activities Committee Member of the Capital Campaign committee Expertise; Strategy, corporate contacts, marketing, finance JANE FREUDENSTEIN - GAICD Deputy Chair and Director of Sydney Children's Hospital Foundation 2011-2016 Director of Sydney Children's Choir and Gondwana Voices from 2007 to 2010 Appointed to the Board in October 2012 Chair of the Marketing and Commercial Activities Committee Member of the Nomination Committee Expertise: Advertising, marketing and strategic brand development, fundraising KIERA GRANT - B. Economics (Sydney), FAICD Non-executive Director of Samuel Smith and Sons (incorporating Yalumba Wines and Negociants Limited) Trustee of the AGNSW Foundation Former Non-executive Director of Pacific Brands Ltd Former Executive Director of UBS Australia. Appointed to the board in March 2013. Member of the Audit and Risk Committee Member of the Capital Campaign Committee Expertise: Finance, strategic management, corporate governance and corporate contacts.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Directors' report (continued) DIRECTORS (continued) Qualifications, experience and special responsibilities (continued) MARK HASSELL Group Executive/Chief Customer Officer for Virgin Australia 2012 - 2017. Senior roles at British Airways and Qantas. Appointed to the Board in February 2017 Member of the Marketing and Commercial Activities Committee Expertise: Brand, customer and people strategy, customer experience, marketing and advertising. CATRIONA MORDANT Foundation board member of the Museum of Contemporary Art Australia Director of Queensland Ballet Director of the International Council of the Tate in London Member of the advisory board of Venetian Heritage in Venice. Appointed to the Board in December 2016 Member of the Nominations Committee Expertise: Fundraising, strategic management, corporate contacts BEAU NEILSON - B.Laws (UTS) External Engagement- Anti-Slavery Australia Appointed to the Board in March 2015. Member of the Nominations Committee Expertise: philanthropy, events, relationship management CHRISSY SHARP Inaugural Director of The Wheeler Centre 2009-2011 General Manager of Sadler's Wells, London 2004-2009 General Manager of Sydney Festival 2000-2003 Head of Policy at broadcaster SBS 1995-2000. Appointed to the Board in December 2016 Member of the Audit and Risk Committee Expertise: Arts management, strategic analysis, government relations. CARLA ZAMPATTI AC Executive Chair of Carla Zampatti Pty Ltd. Director of the Australian Multicultural Foundation Director of the European Australian Business Council Director of the MCA Foundation Director of the UTS V-C's Industry Advisory Board Former Chair of the SBS Corporation Former director of Westfield Holdings, McDonalds and the Sydney Theatre Company Foundation Granted an Honorary Doctorate of Laws at the Faculty of Arts, Monash University. Granted an Honorary Doctorate of Letters from the University of Western Sydney 1999 for outstanding service to the University as a member of its Board of Governors. Appointed to the Board in October 2012 Member of the Nominations Committee Expertise: business, export markets, board governance, networks

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Directors' report (continued) DIRECTORS (continued) Qualifications, experience and special responsibilities (continued) ANDREW MESSENGER - B.Comm (Melbourne), LLB (Melbourne) Partner - Corrs Chambers Westgarth Appointed to the board in August 2010 Resigned 8 December 2016 Appointed Chair 22 April 2013; Resigned 8 December 2016 Member of the Audit Committee (resigned as Chair 22 April 2013) Member of the Infrastructure Committee Chair – Nominations Committee Expertise: Legal, governance, corporate contacts RANDAL MARSH Founder and Partner of Wood/Marsh Pty Ltd Architecture Appointed to the board in April 2014. Resigned in February 2016. Expertise: Fundraising, strategic management, corporate contacts DIVIDENDS The Company is a not for profit organisation which does not pay dividends. CORPORATE INFORMATION Sydney Dance Company is a company limited by guarantee that is incorporated and domiciled in Australia. The registered office and principal place of business of the Company is: The Wharf, Pier 4, Hickson Road, Walsh Bay, NSW 2000. The Company employed 43 permanent employees as at 31 December 2016 (2015: 38 employees). PRINCIPAL ACTIVITIES The principal activities during the year were as follows: - Production and presentation of live dance in Australia and overseas. - Promotion and the study of dance. - Commercial activities to provide financial support for the above including daily dance classes, school holiday workshops and dance studio hire. - Fundraising to support production, promotion and presentation of live dance in Australia and internationally. OPERATING RESULTS The operating surplus of the Company for the year ended 31 December 2016 was $557,348 (2015: $515,377). SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS There have been no significant changes in the state of affairs of the Company during the year. SIGNIFICANT EVENTS AFTER THE REPORTING DATE There have been no significant events occurring after the reporting date which may affect either the Company’s operations or results of those operations or the Company’s state of affairs. OBJECTIVES Sydney Dance Company performed to an audience totalling over 44,000 in 2016. There were 76 Australian performances in Sydney, Canberra and Melbourne, regional Queensland, Western Australia and Northern Territory and in 7 centres in regional NSW. The Company also performed to audiences in Switzerland and Germany as part of the Movimentos Festival in addition to performances in Brasil and Chile. There were 12 international performances with a total audience of over 8,500. Nine new choreographic works were commissioned which were supported by 14 new music and video commissions. 5

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Directors' report (continued) OBJECTIVES (continued) The company achieved its eighth consecutive surplus result. Development income showed an 11% increase on previous year figures while income generated by commercial activities including dance classes increased by 7%. More than 171 school focused workshops were presented, 8 school matinees and 20 holiday workshops to more than 10,000 participants. The Pre Professional Year (PPY) continues to grow in reputation as it entered its third year. PPY students concluded the year with a premier performance of newly choreographed works which attracted over 800 people over 3 nights. SDC commercial dance classes continue to be popular with almost 70,000 annual visits to the wharf precinct. Over 3,500 annual classes are held 7 days a week for 49 weeks of the year. INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS Since the end of the previous financial year, the Company has not indemnified or made a relevant agreement for indemnifying against a liability of any person who is or has been an officer or auditor of the Company. Since the end of the previous financial year, the Company has paid premiums in respect of directors' and officers' liability and legal expenses insurance contracts. These insurance contracts insure against liability (subject to specific exclusions) for persons who are or have been directors or officers of the Company. The Directors have not included details of the nature of the liabilities covered nor the amount of the premium paid in respect of the directors' and officers' liability and legal expenses' insurance contracts, as such disclosure is prohibited under the terms of the contract. DIRECTORS' MEETINGS The number of meetings of directors (including meetings of committees of directors) held during the year and the number of meetings attended by each director were as follows: Audit and Risk Committee Directors' meetings meetings Eligible Attended Eligible Attended Number of meetings: Karen Moses 8 7 6 6 Pamela Bartlett 8 8 Peter Brownie 8 4 6 4 Jean-Marc Carriol 8 5 Brett Clegg 8 6 Jane Freudenstein 8 8 Kiera Grant 8 7 6 6 Catriona Mordant 2 2 Beau Neilson 8 5 Chrissy Sharp 2 2 Carla Zampatti AC 8 4 Andrew Messenger 7 4 6 3 Randal Marsh 1 MEMBER'S GUARANTEE The Company is a public company limited by guarantee that is incorporated and domiciled in Australia. If the Company is wound up, its Constitution states that each member is required to contribute a maximum of $100 each towards meeting any outstanding obligation of the Company, a total of $1,500 (a total of $1,400 as at 31 December 2015). At 31 December 2016, the number of members was 15 (2015: 14 members).

Annual Report 2016

General Purpose Financial Report

Annual Report 2016

General Purpose Financial Report



Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.



Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Ernst & Young

Lisa Nijssen-Smith Partner Sydney 10 April 2017

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Statement of profit or loss and other comprehensive income For the year ended 31 December 2016 Notes

2016 $

2015 $

Revenue

4(a)

11,556,860

10,616,626

Other income

4(b)

57,784

71,995

Administration and marketing expenses including staff costs Performance and production expenses Commercial activity related costs Philanthropy activity related costs Sponsorship activity related costs Education costs Operating surplus for the year

(6,076,166) (3,197,345) (746,466) (694,179) (31,087) (312,053) 557,348

Other comprehensive income Total comprehensive income for the year

557,348

(5,268,359) (3,206,431) (796,048) (604,429) (9,828) (288,149) 515,377 515,377

The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Statement of financial position As at 31 December 2016 Notes Assets Current assets Cash and cash equivalents Trade and other receivables Total current assets Non-current assets Property, plant and equipment Reserve incentive scheme Total non-current assets Total assets Liabilities Current liabilities Trade and other payables Deferred revenue Employee benefit liabilities Government grant advances Total current liabilities Non-current liabilities Employee benefit liabilities Total non-current liabilities Total liabilities

Total equity and liabilities

2015 $

5 6

2,430,257 384,075 2,814,332

2,101,851 264,943 2,366,794

7 8

88,786 538,000 626,786 3,441,118

98,502 522,272 620,774 2,987,568

9 10 11 12

409,816 174,189 244,569 548,586 1,377,160

347,719 421,641 196,613 510,683 1,476,656

47,425 47,425 1,424,585

51,727 51,727 1,528,383

2,016,533

1,459,185

524 1,078,009 538,000 400,000 2,016,533

524 936,389 522,272 1,459,185

3,441,118

2,987,568

Net assets/(liabilities) Equity Contributed equity Retained earnings Reserve incentive scheme Capital reserve Total equity

2016 $

13 14 14

The above statement of financial position should be read in conjunction with the accompanying notes.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Statement of changes in equity For the year ended 31 December 2016 Contributed equity (Note 13) $ At 1 January 2015

Retained Capital reserve (Note 14) earnings $ $

Reserve incentive scheme (Note 14) $

Total equity $

524

448,284

495,000

943,808

Surplus for the year Total comprehensive income for the year

515,377

Transfer to reserve incentive scheme

(27,272)

27,272

524

936,389

522,272

1,459,185

Surplus for the year Other comprehensive income Total comprehensive income for the year

557,348 -

557,348

Transfer to capital reserve Transfer to reserve incentive scheme

(400,000) (15,728)

400,000 -

15,728

400,000

538,000

2,016,533

At 31 December 2015

At 31 December 2016

524

1,078,009

The above statement of changes in equity should be read in conjunction with the accompanying notes.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Statement of cash flows For the year ended 31 December 2016 2015 $

2016 $ Operating activities Receipts from activities Payments to suppliers and employees Receipt of government grants Interest received Net cash flows from operating activities

7,256,058 (10,522,231) 3,619,554 33,602 386,983

6,554,407 (9,000,774) 3,366,934 41,184 961,751

(42,849) (15,728) (58,577)

(27,817) (27,272) (55,089)

Investing activities Purchase of property, plant and equipment Transfer Reserve Incentive Funding to Escrow account Net cash flows used in investing activities Financing activities Net cash flows used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

328,406 2,101,851 2,430,257

906,662 1,195,189 2,101,851

The above statement of cash flows should be read in conjunction with the accompanying notes. The above statement shows cashflow exclusive of reserves held under the reserve incentive scheme.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements For the year ended 31 December 2016 1

CORPORATE INFORMATION The financial report of Sydney Dance Company (the ''Company'') for the year ended 31 December 2016 was authorised for issue in accordance with a resolution of the directors on 10 April 2017. Sydney Dance Company is a not for profit company limited by guarantee and as such has no authorised capital and is domiciled in Australia. The Company exists to present live dance in Australia and overseas and to promote the study of dance. The nature of the operations and principal activities of the Company are further described in the directors' report.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of preparation The financial report is a general purpose financial report, which has been prepared in accordance with the requirements of the ACNC Commissions Act 2012, Australian Accounting Standards and other authoritative pronouncements of the Australian Accounting Standards Board, and the Australian Charities and Not-for-Profits Commissions Act 2012. The financial report has also been prepared on a historical cost basis. The financial report is presented in Australian dollars ($). (b) Statement of compliance The financial report is a general purpose financial report, which has been prepared in accordance with the requirements of the ACNC Commissions Act 2012, Australian Accounting Standards - Reduced Disclosure Requirements and other authoritative pronouncements of the Australian Accounting Standards Board. The Company is a not-for-profit, private sector entity which is not publicly accountable. Therefore, the financial statements for the Company are tier 2 general purpose financial statements which have been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements (AASB - RDRs). (c) Changes in accounting policy, disclosures, standards and interpretations Changes in accounting policies, new and amended standards and interpretations The accounting policies adopted are consistent with those of the previous financial year. (d) Going concern The financial report has been prepared on a going concern basis, which contemplates continuity of normal business activities and realisation of assets and settlement of liabilities in the ordinary course of business. The Company reported an operating surplus of $557,348 (2015: $515,377) for the year ended 31 December 2016, and as at that date, the Companyâ&#x20AC;&#x2122;s total current assets exceeded total current liabilities by $1,437,172 (2015: $890,138). Sydney Dance Company has received confirmation of funding from the Australia Council and Arts NSW to 31 December 2018. This is subject to Sydney Dance Company continuing to meet the requirements of the Tripartite Agreement under which it is funded, and addressing any specific concerns and caveats that the funding bodies might require throughout the period. The Directors have reviewed the Companyâ&#x20AC;&#x2122;s prospective financial information, including cash flow forecasts, and believe that Sydney Dance Company will be able to pay its debts as and when they fall due and payable and can continue on a going concern basis.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(d) Going concern (continued) It should be noted that from 2018, the NSW Government have announced that the Sydney Dance Company premises, together with other tenancies around the wharf precinct, will be renovated as part of a major redevelopment project initiated and managed by Create NSW. The redevelopment is expected to take up to 2 years and have a major impact on the companyâ&#x20AC;&#x2122;s wharf based activities. The disruption presents a material risk to the companyâ&#x20AC;&#x2122;s ability to generate commercial income over the construction period and the cost of operations. Arrangements with the NSW Government regarding the redevelopment have not yet been agreed. (e) Current versus non-current classification The Company presents assets and liabilities in the statement of financial position based on current/non-current classification. An asset is current when it is: - Expected to be realised or intended to be sold or consumed in the normal operating cycle - Held primarily for the purpose of trading - Expected to be realised within twelve months after the reporting period, or - Cash or cash equivalent unless restricted from being exchanged or used to settle 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 the normal operating cycle - It is held primarily for the purpose of trading - It is due to be settled within twelve months after the reporting period, or - There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period The Company classifies all other liabilities as non-current. (f) Foreign currency translation Transactions in foreign currencies are recorded by the Company at its functional currency spot rate at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Differences arising on settlement or translation of monetary items are recognised in profit or loss. (g) Cash and cash equivalents Cash and cash equivalents in the statement of financial position comprise cash at bank and on hand. For the purpose of the statement of cash flows, cash and cash equivalents consist of cash, as defined above. (h) Trade and other receivables Trade receivables, which generally have 30-90 day terms, are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less an allowance for impairment. Collectability of trade receivables is reviewed on an ongoing basis. Individual debts that are known to be uncollectible are written off when identified. An impairment provision is recognised when there is objective evidence that the Company will not be able to collect the receivable.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(i) Property, plant and equipment Plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the plant and equipment. When significant parts of plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in profit or loss as incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets as follows: Leasehold improvements - over 10 years Plant and equipment - over 2 to 5 years Furniture and fittings - over 5 years Computer software - over 3 years An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss and other comprehensive income when the asset is derecognised. The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate. (j) Impairment of non-financial assets The carrying values of plant and equipment are reviewed for indicators of impairment at each reporting date, with a recoverable amount being estimated when events or changes in circumstances indicate the carrying value may not be recoverable. The recoverable amount of plant and equipment is the greater of fair value less costs to sell and value in use. Impairment losses are recognised in the statement of profit or loss and other comprehensive income. (k) Leases The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset, even if that right is not explicitly specified in an arrangement. Company as a lessee A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Company is classified as a finance lease. An operating lease is a lease other than a finance lease. Operating lease payments are recognised as an operating expense in the statement of profit or loss and other comprehensive income on a straight-line basis over the lease term.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(l) Trade and other payables Trade and other payables are carried at amortised cost and due to their short-term nature they are not discounted. They represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and are usually paid within 30 days of recognition. (m) Provisions and employee benefit liabilities General Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit or loss and other comprehensive income net of any reimbursement. Wages and salaries Liabilities for wages and salaries, including non-monetary benefits expected to be settled within 12 months of the reporting date are recognised in respect of employees' services up to the reporting date. They are measured at the amounts expected to be paid when the liabilities are settled. Long service leave and annual leave The Company does not expect its long service leave or annual leave benefits to be settled wholly within 12 months of each reporting date. The Company recognises a liability for long service leave and annual leave measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currencies that match, as closely as possible, the estimated future cash outflows. (n) Contributed equity The membership fees were contributed by the initial members upon establishment of the Company. In accordance with the Constitution, members are not entitled to any reimbursement or return of initial membership fees upon ceasing to be a member. (o) Revenue recognition Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is received. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duty. The specific recognition criteria described below must also be met before revenue is recognised. Box office Box office revenue is recognised in the year in which the performance is given. Fundraising, Sponsorship and Government grants Fundraising, Sponsorship and Government grant income are brought into account over the year to which the sponsorship agreement or grant relates. If the fundraising, sponsorship or grant relates to a specific project, then it is brought to account at the time the project occurs.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(o) Revenue recognition (continued) Education Income Education Income is recognised as revenue in the period which the service is provided. Income received in advance is deferred and will be recognised in the following year. Sponsorship in-kind Sponsorship in-kind is brought to account as revenue in the year to which the equal and corresponding expense relates. Consequently, the revenue and expenses are recognised in the same accounting year. Where a depreciable asset is received as sponsorship in-kind, revenue is recognised in the period in which the asset is received, and that asset is depreciated over its useful life. Commercial Income - Dance classes Dance classes are recognised as revenue within the period in which they are provided. Dance class tickets have an expiry date of 6 months (2015: 6 months). The income from unused dance class tickets at year end is deferred into the following year after an adjustment is made for tickets that will remain unused at the date of expiry. Commercial income - Other Other commercial income includes studio hire and rental income from the Sydney Dance Lounge both of which are recognised when earned. School holiday workshops are also classified as other commercial income and income is also recognised when earned. Interest income Interest income is recorded using the effective interest rate (EIR) method. The EIR is the rate that exactly discounts the estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset. Interest income is included in other income in the statement of profit or loss and other comprehensive income. (p) Income tax The Company has not provided for income tax as it is exempted from income tax by virtue of section 50-5 of the Income Tax Assessment Act, 1997. (q) Goods and services tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except: - When the GST incurred on a sale or purchase of assets or services is not payable to or not recoverable from the taxation authority, in which case the GST is recognised as part of the revenue or the expense item or as part of the cost of acquisition of the asset , as applicable - When receivables and payables are stated with the amount of GST included The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position. Commitments and contingencies, if any, are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority. Cash flows are included in the statement of cash flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority is classified as part of operating cash flows.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(r) Government grants Government grants are recognised when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an expense item it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. Any funding not spent on the planned activities agreed by both parties, at the start of the calendar year, is required to be repaid.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 3

SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS The preparation of the Companyâ&#x20AC;&#x2122;s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. Estimates and assumptions The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions when they occur. Long service leave provision The liability for long service leave is recognised and measured at the present value of the estimated future cash flows to be made in respect of all employees at balance date. In determining the present value of the liability, attrition rates and pay increases through promotion and inflation have been taken into account. Annual leave provision The liability for annual leave provision is recognised and measured at the present value of the estimated future cash flows to be made in respect of all employees at balance date. In determining the present value of the liability and pay increase through promotion and inflation have been taken into account. Unused dance class tickets The income from unused dance class tickets at year end is deferred into the following year after an adjustment is made for tickets that will remain unused at the date of expiry. Estimates of the future use of these tickets, based on historical use of tickets, are applied in the calculation of this value.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2016 $

2015 $

1,480,041 314,345 777,738 2,441,480 1,749,291 371,973 3,581,651 840,341 11,556,860

1,729,518 136,723 827,619 1,762,850 1,629,566 419,948 3,270,061 840,341 10,616,626

33,602 24,182 57,784

41,184 30,811 71,995

(c) Salaries and employee benefit expenses included in the statement of profit or loss and other comprehensive income Wages and salaries Workers' compensation costs Long service leave expense Total employee benefit expense

5,331,781 170,050 58,876 5,560,707

4,547,398 61,664 45,665 4,654,727

(d) Depreciation expense included in the statement of profit or loss and other comprehensive income Depreciation of non-current assets Plant and equipment Office equipment Furniture and fittings Computer software Total depreciation expense

26,989 17,177 2,429 5,970 52,565

33,253 13,021 2,508 8,057 56,839

REVENUE AND EXPENSES

(a) Revenue Box office & fees Sponsorship - cash Sponsorship in-kind Fundraising Commercial income Education income Government grants - cash (Note 4(e)) Government grants in-kind rental (Note 4(e)) Total revenue (b) Other income Interest income Other income Total other income

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016

REVENUE AND EXPENSES (continued)

(e) Government grant income included in the statement of profit or loss and other comprehensive income Australia Council Grants: - Australia Council General - Australia Council Support Arts Organisation Change Management and Growth - Australia Council Co3 and Sydney Dance Company Collaboration Project Department of Foreign Affairs and Trade Grant NSW Government MPA Grant NSW Government In - kind Rental Assistance Australia Council Touring Fund Grant NSW Government NSW touring City of Sydney education grant Total Government Grants 5

2,613,389 10,000 100,000 40,000 273,898 840,341 372,884 156,480 15,000 4,421,992

2,430,257 2,430,257

25,000 267,218 840,341 393,610 12,000 4,110,402

2,101,851 2,101,851

TRADE AND OTHER RECEIVABLES 76,411 76,411

Trade receivables Allowance for impairment loss

2,572,233

CASH Cash at bank and on hand

2015 $

2016 $

Sundry debtors Goods and services tax receivable Other receivables Carrying amount of trade and other receivables

302,541 5,123 384,075

Movements in the provision for impairment loss were as follows: At 1 January Utilised in the year Charge for the year At 31 December

9,433 (24,433) 15,000 -

20,074 (9,433) 10,641 243,456 10,846 264,943

2,079 7,354 9,433

PROPERTY, PLANT AND EQUIPMENT Leasehold improvements At cost Accumulated depreciation Net carrying amount

22,259 (22,259) -

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2016 $ 7

2015 $

PROPERTY, PLANT AND EQUIPMENT (continued) Plant and equipment At cost Accumulated depreciation Net carrying amount

116,174 (53,262) 62,912

221,961 (161,614) 60,347

During the period, $135,242 of plant and equipment with a nil written down value was written off. Office equipment At cost Accumulated depreciation Net carrying amount

66,112 (47,577) 18,535

101,077 (77,025) 24,052

During the period, $46,625 of office equipment with a nil written down value was written off. Furniture and fittings At cost Accumulated depreciation Net carrying amount

11,905 (5,324) 6,581

29,115 (21,740) 7,375

During the period, $18,845 of furniture and fittings with a nil written down value was written off. Computer software At cost Accumulated depreciation Net carrying amount Total property, plant and equipment At cost Accumulated depreciation Net carrying amount

24,415 (23,657) 758

24,415 (17,687) 6,728

218,606 (129,820) 88,786

398,827 (300,325) 98,502 2016 $

Reconciliation of carrying amounts at the beginning and end of the year Balance at the beginning of the year Cost Accumulated depreciation Net carrying amount Additions Depreciation charge for the year Balance at the end of the year - Net carrying amount

398,827 (300,325) 98,502 42,849 (52,565) 88,786

During the period, $259,151 of property, plant and equipment with a nil written down value was written off.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016

2016 $

RESERVE INCENTIVE SCHEME

538,000

Reserve Incentive Scheme

2015 $

522,272

The funds received under the Reserve Incentive Scheme Agreement together with the Companyâ&#x20AC;&#x2122;s contribution are held in escrow for a period of 15 years ending on 2 April 2028 and are subject to the terms and conditions of the Reserve Incentive Scheme Agreement between the Australia Council, Arts NSW and the Company. The funds have not been used to secure any liabilities of the Company. The funds consist of short term deposits of $538,000 (2015: $522,272). No funds were required to be paid into this account by the Company in 2016 (2015: nil). The increase in the fund balance relates to interest received from the short-term deposits. 9

TRADE AND OTHER PAYABLES Current Trade payables Other payables Goods and services tax payable

103,245 272,109 34,462 409,816

66,286 281,433 347,719

54,516 97,673 22,000 174,189

82,547 74,900 264,194 421,641

117,299 127,270 244,569

107,966 88,647 196,613

47,425 47,425

51,727 51,727

(a) Trade payables Trade payables are non-interest bearing and are normally settled on 30 day terms. (b) Other payables Other payables are non-trade and non-interest bearing. 10 DEFERRED REVENUE Dance class deferred revenue Education activity deferred income Development activity deferred income

11 EMPLOYEE BENEFIT LIABILITIES Current Annual leave Long service leave Non-current Long service leave

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2015 $

2016 $

12 GOVERNMENT GRANT ADVANCES Current Australia Council touring grant advances Australia Council Support Arts Organisation Change Management Department of Foreign Affairs and Trade grant adavance Total government grants deferred Movement in government grants At 1 January Received during the year Repaid Released to the statement of profit or loss and other comprehensive income At 31 December

418,586 90,000 40,000 548,586

510,683 4,459,895 (4,421,992) 548,586

410,683 100,000 510,683

413,810 4,216,792 (9,517) (4,110,402) 510,683

13 CONTRIBUTED EQUITY 524 524

Membership fees

524 524

The membership fees were contributed by the initial members upon establishment of the Company. In accordance with the Constitution, members are not entitled to any reimbursement or return of initial membership fees upon ceasing to be a member. 14 RESERVES At 1 January Transfer from retained earnings in relation to: Capital reserve Reserve incentive scheme At 31 December

522,272

495,000

400,000 15,728 938,000

27,272 522,272

15 COMMITMENTS AND CONTINGENCIES (a) Commitments Leasing commitments Negotiations are currently underway with Arts NSW concerning the lease and lease term of the premises going forward. Minimum commitments at year end is therefore nil (2015: nil). (b ) Contingencies The directors are not aware of any contingent liabilities as at 31 December 2016 (2015: none).

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2016 $

16 RELATED PARTY DISCLOSURES

2015 $

Transactions with related parties Donations: The following donations were made by directors during the year: 10,000 10,000 8,670 10,000 5,000 15,000 15,000 10,000 25,000 108,670

Pamela Bartlett Peter Brownie Jean-Marc Carriol Brett Clegg Jane Freudenstein Kiera Grant Karen Moses (Chair) Beau Neilson Carla Zampatti AC Andrew Messenger Randal Marsh Total donations

10,000 10,000 5,000 5,000 10,000 10,000 20,000 10,000 25,000 25,000 105,000

17 KEY MANAGEMENT PERSONNEL (a) Details of Key Management Personnel Current Directors Karen Moses Pamela Bartlett Peter Brownie Jean-Marc Carriol Brett Clegg Jane Freudenstein Kiera Grant Mark Hassell Catriona Mordant Beau Neilson Chrissy Sharp Carla Zampatti AC Andrew Messenger (Resigned) Randal Marsh (Resigned) Executives Anne Dunn Rafael Bonachela Sean Radcliffe

Chair (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Director (non-executive) Chair (non-executive) Director (non-executive)

Executive Director Artistic Director Deputy Executive Director, Company Secretary

Non-executive Directors of Sydney Dance Company do not receive remuneration for serving on the Board of Directors. Chrissy Sharp was employed from 27 January 2016 to 08 September 2016 as she was acting in capacity of Anne Dunn whilst she was on maternity leave. Post her employment with Sydney Dance Company, she joined the board.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Notes to the financial statements (continued) For the year ended 31 December 2016 2016 $

17 KEY MANAGEMENT PERSONNEL (continued) (b) Key Management Personnel Total compensation

818,984

2015 $

723,526

(c) Other transactions and balances with Key Management Personnel Donations from directors are disclosed in Note 16. There are no other transactions or balances with key management personnel. 18 EVENTS AFTER THE REPORTING DATE There have been no significant events occurring after the reporting date which may affect either the Companyâ&#x20AC;&#x2122;s operations or results of those operations or the Companyâ&#x20AC;&#x2122;s state of affairs. 19 ECONOMIC DEPENDENCY The Company is dependent upon funding in the form of government grants, sponsorship, donations and funds received through various fundraising events.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Governance statement For the year ended 31 December 2016 This statement outlines the main corporate governance practices that were in place throughout the financial year. (a) Board of Directors The board is responsible for the overall corporate governance of the Company including its corporate planning, establishing goals for management and monitoring achievement of these goals. The board meets 6 times a year. To assist in the execution of its responsibilities the board has established five standing committees: the Audit and Risk Committee, the Marketing and Commercial Activities Committee, the Capital Campaign Committee and other Development related committees and the Nominations Committee. The board currently has eleven members. Two new directors have been added to the board as from January 2016 while two have resigned in the same period. The names of board members at the date of this statement are set out in the Director’s Report on page 2 of these financial statements. Established skills represented on the board include finance, marketing, operations and fundraising. (b) Audit and Risk Committee The audit and risk committee is responsible for reviewing, advising and evaluating the Company’s financial controls, procedures and policies including the review of annual budgets, management accounts and forecasts. The committee reviews the annual audit plan and statutory accounts. The committee also reviews and evaluates key risks. The audit and risk committee meets bi-monthly. Currently it is comprised of Peter Brownie (Audit and risk committee Chair), Karen Moses (Board Chair), Kiera Grant and Chrissy Sharp (Board members), Executive Director and Finance Manager. (c) Marketing and Commercial Activities Committee The marketing and commercial activities committee is responsible for strategic guidance in relation to marketing, communications plans and commercial activities. This function includes post season reviews and recommendations on changes to be made for future marketing campaigns, corporate sponsorship and other commercial activities. The marketing committee meets on a quarterly and an as-needs basis. Currently it is comprised of Jane Freudenstein (Committee Chair), Jean-Marc Carriol, Pam Bartlett, Brett Clegg, Mark Hassell (Board members), Executive Director, Finance Manager, Development Manager, Education and Access Manager and Marketing Manager. (d) Development Committees Capital Campaign Committee – this committee plans for the required raising of funds relating to the redevelopment of The Wharf Precinct by the state government. This committee currently meets on a quarterly basis. The committee currently consists of Julian Knights (External Chair), Karen Moses (Board Chair), Kiera Grant, Brett Clegg (Board members), Executive Director, Development Director and Major Gifts Manager. Sydney Dance Company’s major fundraising event is managed by its own committee. In 2016 the committee was comprised of 2 Board members, Pam Bartlett and Jean-Marc Carriol and additional external expert members. This committee meets regularly in the six month lead up to the event.

Annual Report 2016

General Purpose Financial Report

SYDNEY DANCE COMPANY

Governance statement (continued) For the year ended 31 December 2016 (e) Nominations Committee The nominations committee meets to identify, propose and discuss the skills and suitability of persons for nomination and election to the Sydney Dance Company board of directors. The committee also has the responsibility of identifying skills gaps in the current Sydney Dance Company board and finding suitable replacements thus ensuring an appropriate combination of skills, experience and influence. Currently it is chaired by the Karen Moses (Board Chair) and comprises four other board members, Beau Neilson, Carla Zampatti, Jane Freudenstein, Catriona Mordant and the Executive Director. The committee meets twice a year and on an as-needs basis.

Annual Report 2016

General Purpose Financial Report

Annual Report 2016

General Purpose Financial Report

Ernst & Young 200 George Street Sydney NSW 2000 Australia GPO Box 2646 Sydney NSW 2001

Tel: +61 2 9248 5555 Fax: +61 2 9248 5959 ey.com/au

Independent Auditor's Report to the Members of Sydney Dance Company Opinion We have audited the financial report of Sydney Dance Company (the Company), which comprises the statement of financial position as at 31 December 2016, the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, 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 is in accordance with 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 for the year ended on that date; and

complying with Australian Accounting Standards – Reduced Disclosure Requirements and 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.

Information Other than the Financial Report and Auditor’s Report Thereon The directors are responsible for the other information. The other information is the directors’ report accompanying the financial report. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation

Annual Report 2016

General Purpose Financial Report

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 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 Company’s ability to continue as a going concern, disclosing, as applicable, matters relating 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.

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. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: 

Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.



Obtain an understanding of internal control relevant to the audit 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 Company’s internal control.



Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation

Annual Report 2016

General Purpose Financial Report

Annual Report 2016

General Purpose Financial Report