ANNUAL REPORT 2017-18
OVER $2 MILLION RAISED FOR GRASSROOTS CRICKET CLUBS! This year, a record 483 clubs across Australia got involved in the Toyota Good for Cricket Raffle to help raise a smashing total of $594,710! This fantastic result means that since launching in 2012, the raffle has racked up over $2 million. Now that’s Good for Cricket! 100% of all proceeds go back to clubs, so they can invest in growing the game in their community with... • Facility upgrades and renovations
• Installation of cricket nets
• Ground maintenance
• New equipment and uniforms
• Trophies and awards
• Junior coaching clinics and much more!
Congratulations to all involved! Don’t forget to keep your eye on the ball for more information on the upcoming season. GET INVOLVED If you would like to get your club involved in Toyota’s Good for Cricket program next season, visit toyota.com.au/cricket to stay up to date with upcoming plans and details!
toyota.com.au 2 | CRICKET VICTORIA
OFFICE BEARERS Cricket Victoria Patron Malcolm Gray AM
Delegates 2017-18 Club
Dr Geoff Hart
Women’s Premier Panel
Women’s Premier Panel
Cricket Victoria Board Russell Thomas (Chairman)
Paul Jackson (Deputy Chairman)
Dr David Maddocks
ANNUAL REPORT 2017-18 | 3
CHAIRMAN’S REPORT In August Peter Handscomb was unveiled as the
Lanning suffered a season-ending injury.
new captain of the then Commonwealth Bank Victorian Bushrangers, replacing Matthew Wade.
Kristen was awarded the Sharon Tredea Award at
Peter will continue to be an outstanding young
the State Awards in recognition for her outstanding
leader of our state as he builds on his thirteen Test
year which included a haul of 5-13 against
matches for Australia.
This season saw 12 debutants across our Men’s
Following the conclusion of the 2017-18 season,
and Women’s Victorian teams, including young
Cricket Victoria announced that the organisation
Prahran all-rounder Will Sutherland during the JLT One-Day Cup and sister Annabel Sutherland during the Women’s National Cricket League season. The Victorian men exited the JLT One-Day Cup competition in the semi-finals while the JLT
RUSSELL THOMAS It is incredible to consider what a transformative
Sheffield Shield squad fought valiantly to try and reach a fourth consecutive final but it was not to be.
and exciting year this has been for Cricket Victoria and for our future opportunities to grow Victorian
The highlight of the season was by far the exciting
win against New South Wales on the opening weekend of the CitiPower Centre.
By any measure, our transition to the CitiPower Centre at the Junction Oval has been recognised
In terms of individual performances, I’d like to
as a landmark moment for the sport in this state.
congratulate fast bowler Chris Tremain who was
The organisation’s new headquarters provides
named JLT Sheffield Shield Player of the Season
would discontinue the use of the Bushrangers
a world-class high performance, community
by Cricket Australia. Chris was the top wicket-
and VicSpirit monikers with the state teams.
and administrative base that is the envy of
taker in the competition, returning a career best
We respect and celebrate the history and
organisations both here and across the Asia-
51 wickets at 21.07 and was also named the Bill
achievements of the teams under these names
Lawry Medalist at the State Awards.
but our future focus will be on the use of Victoria
I would like to express the organisation’s sincere
This season also saw Rob Quiney and John
first state to make this decision and proud of this
thanks to the Victorian Government, Victorian
Hastings announce their retirements from first
step in a year of transformation.
Premier, the Hon. Daniel Andrews MP, Cricket
class cricket. Rob and John have both been
Australia and our outgoing Chief Executive Tony
outstanding ambassadors for the game and I
Our BBL teams delivered markedly different
Dodemaide for their leadership, collaboration and
commend and thank them on wonderful careers.
results for the first time in several seasons as the
rather than their previous nicknames. We are the
support in delivering this major milestone.
Melbourne Renegades made the semi-finals and It was a year of development with one of our
the Melbourne Stars ended the regular season
It is enormously satisfying to see such a large-
youngest women’s teams in recent memory
at the bottom of the BBL table. Our WBBL teams
scale project finished to such a high quality.
finishing sixth in the Women’s National Cricket
continue to grow their position in the market but
League (WNCL) but also a year of milestones with
finished in the lower half of the table.
Our program of work off the field continues to
the team playing its first WNCL match on the MCG
set the bar at very high standards and while we
Both teams drew consistently strong crowds, and
didn’t taste the on-field success of recent seasons,
average TV viewership continued to deliver strong
Victorian cricket remains a force to be reckoned
I’d also like to congratulate Kristen Beams who
results, demonstrating the impact BBL and WBBL
with on the domestic and national stage.
took over the captaincy of the VicSpirit after Meg
delivers for new cricket fans during the summer.
What a transformative and exciting year this has been for Cricket Victoria
4 | CRICKET VICTORIA
It was another outstanding season of Premier
This year also marked the conclusion of Tony
Cricket and I congratulate everyone at Dandenong
Dodemaide’s tenure as the organisation’s Chief
Cricket Club and Box Hill Cricket Club on their
Executive Officer after ten years. On behalf of
respective wins in the Men’s and Women’s
the Board and my fellow Directors I would like
competitions last season.
to thank Tony for his vision, steady leadership and commitment to cricket in this state both as a
Dandenong, led by captain Tom Donnell and
player and then as an outstanding administrator.
coach Nick Speak, took out the First XI double with victories over Fitzroy Doncaster in the 3-day
There is no doubt that the CitiPower Centre is a
season Final and over Carlton in an eventful White
crowning achievement in Tony’s decade of service
Ball Final in January.
and I’m delighted that Tony was able to see this project through to completion.
Essendon Maribyrnong Park also achieved a Twenty20 double with both their Firsts and
With every change comes opportunity and we
Seconds sides claiming victory in their respective
confirmed the appointment of Andrew Ingleton
finals over Melbourne and Carlton-Brunswick.
as the organisation’s new Chief Executive Officer. Andrew’s leadership and experience in sport,
I congratulate Anna Lanning (Box Hill) who won
commercial and retail sectors places us in an
the Una Paisley Medal and Trent Lawford (Fitzroy
excellent position to achieve the goals set out in
Doncaster) who won the Jack Ryder Medal at
our strategic plan. Andrew has well and truly hit
the Premier Cricket Awards. Both players made
the ground running since his commencement in
substantial contributions this season.
From a strategic perspective, in September Cricket
As an appropriate conclusion, this year I also
Victoria launched its new five-year strategy to take
advised the Board of my intention not to seek re-
the organisation towards 2022.
election as Chairman and as a Director of Cricket Victoria. This follows nine years as a Director and
Our plan sets us on a clear journey to achieve
as Chairman since 2015.
three key pillars of success: making Victoria Number One for Fans, Number One for
It has been a truly rewarding time to be involved
Participation and Number One in All Formats.
with the sport and I’d like to thank my fellow Directors both past and present, together with
Cricket Victoria continues to draw plaudits from
our management team, members, clubs and their
home and around the world for its participation,
valued volunteers, fans, staff and players for their
diversity and inclusion work and I’d like to thank
support of Victorian cricket.
the team behind the scenes for the invaluable work they are doing under our Harmony Program.
There have been many highlights over that journey – five Sheffield Shield titles, the introduction of
Victoria ended the season as the top state
the BBL and WBBL and the completion of the new
for participation in the country – a fantastic
CitiPower Centre at Junction Oval in St Kilda.
achievement and the challenge is now to grow that participation sustainability to support our clubs
With that in mind, now is the right time to allow
others to guide Cricket Victoria through the next chapter of its history.
From a Board perspective, this year we welcomed the election of incoming Director Mr Peter
The road ahead is clear with an exciting vision
Williams at the Annual General Meeting and the
for the future. I finish my term with Cricket
Board elected Ms Theresa Best as a Director in
Victoria knowing the organisation is well placed to
continue its journey towards success and growth.
Both Mr Williams and Ms Best bring a broad range of experience to our organisation and I welcome their contributions to our future direction.
ANNUAL REPORT 2017-18 | 5
CEO’S REPORT From a personal perspective, this role represents a fantastic opportunity to lead the organisation through this critical next chapter of our proud history and I’m excited about the challenges and opportunities we have ahead of us. The move to the CitiPower Centre has been remarkably smooth and I congratulate all who managed such a seamless transition. I’d also like to thank Cricket Victoria’s staff for their energy and anticipation both in the lead-up and since we have found our feet in St Kilda. The new venue is a blank canvas for our organisation to engage with our cricket community on a range of different levels. Each week we’re
delighted to have teams coming in to train, to host functions in our event spaces, give tours of the
What an exciting and challenging year it has been
venue and in the coming season host Premier,
for Cricket Victoria.
WBBL, domestic and international cricket at the CitiPower Centre.
Before updating you on our progress, I would like to pass on my sincere thanks to all of you across
These changes and additional cricket content have
the broader Victorian cricket community for the
brought into focus our need to establish a sound
warm welcome extended to me since I commenced
footing in our venue and event management,
commercial portfolio, cricket operations and community relations divisions.
It’s also appropriate to make mention of Tony Dodemaide who served as CEO until March of this
We are under no illusions that this new facility
reporting year. Tony’s leadership and passion for
brings with it the weight of expectation and we
our game over more than a decade has delivered
intend on delivering high quality services for our
many successes, with the biggest among them the
many fans across Victorian cricket.
delivery of our magnificent new headquarters you see today.
Accordingly, towards the end of the reporting period we began a larger piece of work to redesign sections of the organisation to better align with both our strategic objectives over the coming years and the operational necessities of running our own venue. It will ensure we are positioned to respond to the growing demands from across Victorian cricket. Away from the venue, the organisation has delivered some outstanding results, particularly in participation. Over the past three years, Cricket Victoria has
6 | CRICKET VICTORIA
seen a 400% increase in the number of junior girls’ cricket teams registered. This rapid growth of junior girls’ teams is, in part, a result of the Growing Cricket for Girls Funding – Cricket Australia’s partnership with the Commonwealth Bank to directly support clubs, local associations and schools across Australia to develop new teams and competitions for girls. But the results are also testament to the incredible work of clubs and volunteers across the state who have worked so diligently to grow cricket opportunities for women and girls. Victoria has the highest number of junior girls’ cricket teams in the country and we are determined to ensure that number continues to rise. The participation of women and girls in cricket has moved from being a specific business focus to be an essential part of our work throughout the year and embedded across the business. A strong women’s cricket program has so many ongoing and future benefits across Victoria. This includes a more diverse participant base, new opportunities for clubs and future talent pipelines for Premier, State and WBBL teams. At the elite level, the winning run of the Victorian Men’s Team came to an end. In a brave attempt
to secure a fourth consecutive Sheffield Shield
sporting landscape and we are now preparing for
The balance sheet continued to strengthen through
title, the team stormed home after a number of
an expansion next season to a 14 match BBL home
growth in the investment portfolio and the successful
early season draws to just miss the final, losing
and away season (increasing from 8 matches last
sale of the Jolimont Street building following the
what was essentially a preliminary final outright to
transition to the CitiPower Centre at St Kilda. This has put Cricket Victoria in a healthy position to deliver
Tasmania on a sporting pitch with the Duke’s ball at its lively best.
Off-field, the Melbourne Stars and Melbourne
against our longer-term strategic initiatives.
Renegades continue to deliver strong financial Our Women’s side had a disappointing year
results, with the Renegades delivering the highest
This is a unique time in our organisation’s rich
finishing sixth out of seven sides, winning only
number of members in the league last year and
history, with the cricket landscape changing more
two games. We anticipate a much stronger
made their first semi-final appearance in several
than ever before.
performance this year with the return of our
years. We now have the headquarters and facilities to
inspirational captain Meg Lanning as well as Elyse It was a more challenging year for the Melbourne
showcase our work at a world-class level and as an
Stars, however, who have traditionally been one
organisation we are eager to meet the challenges
These world-class players will bolster our batting
of the competition’s strongest performers but
ahead of us.
depth and have a considerable impact on the
struggled in their on-field performances.
Villani, who is returning home from WA.
I’d like to conclude by thanking our outgoing
squad both on and off the field. Both clubs continue to be market leaders in
Chairman, Russell Thomas for his exceptional service
The Community Cricket: On Common Ground
sport and entertainment and excite thousands
to Victorian cricket as a Club President, Delegate,
program between Cricket Victoria, Cricket
of new fans and families across Victoria. The
Board Director and the last three years as Chairman.
Australia and the Victorian Government has seen
new expanded season brings with it a range of
The organisation has grown substantially in the last
nearly 1,000 clubs receive funding and more than
opportunities and we look forward to bringing
decade and Russell and his fellow Directors have
$14 million invested in grassroots cricket facilities
the Melbourne Stars and Melbourne Renegades
played a critical role in guiding that growth and
across the state.
to more audiences and communities than ever
before. To our Board, management and staff, I thank you for
In April, Cricket Victoria released the Victorian Cricket Infrastructure Strategy (VCIS) – a
From a commercial perspective, the year also
your outstanding contributions to the development of
document that sets a clear, coordinated future
marked the successful beginning of a major new
our great sport. I look forward to working with you to
direction for cricket facility planning, provision and
commercial partnership for Cricket Victoria.
ensure Victorian Cricket performs as a world class organisation, on and off the field.
development across Victoria over the next decade. In March we signed a five-year partnership We recognise that access to facilities is
agreement with CitiPower, Powercor and United
fundamental to our ability to grow as a sport –
Energy which includes the naming rights to our
whether that be getting more junior teams out
new headquarters, the CitiPower Centre.
on the ground, having the right changerooms available, or creating new regional hubs for
In late 2017 we announced a new two-year
partnership with the Transport Accident Commission (TAC) which will engage both
This strategy focuses on working cooperatively
grassroots cricket clubs through road safety
with local government to see existing facilities
education and training programs.
used as efficiently as possible and agreeing what the sport needs and how best we deliver
From a business perspective, the year delivered
that in partnership with government and local
a Statutory Profit of $14.6m which included
the sale of the Jolimont Street property and the appreciating value of CV investments. After
The KFC BBL and Rebel WBBL have maintained
adjusting for one off items the business delivered
their dominance in the Australian summer
an operating loss of $0.86m.
ANNUAL REPORT 2017-18 | 7
12 NOVEMBER 1925 - 25 DECEMBER 2017
30 OCTOBER 1930 - 12 SEPTEMBER 2017
18 OCTOBER 1932 - 5 AUGUST 2018
Cricket Victoria received the sad news that Life
John “Cocky” Chambers was a brilliant and
Cricket Victoria received the sad news that former
Member George Murray passed away on Christmas
aggressive left-handed batsman. He played
Victorian player John Shaw passed away on 5
Day, aged 92.
27 matches for Victoria between 1949-50 and
August, aged 85.
1954-55, scoring 1457 runs at 33.11. He hit three George Murray was an accomplished cricketer in
centuries, including a century (122) on first class
A nephew of the great Lindsay Hassett, John
his own right, playing 160 District matches for St
debut against Tasmania at the MCG in January,
Shaw was a fine right-handed batsman and a
Kilda, Melbourne Uni and Footscray between 1947-
brilliant catcher close to the wicket. Like his uncle, Shaw was born in Geelong and played for South
48 and 1960-61, scoring 4,496 runs at an average of 26.76, with 5 centuries and 23 half-centuries.
Chambers commenced his District Cricket career
Melbourne. He played 156 matches for the Swans
In his first game at Melbourne Uni, Murray and
with South Melbourne in 1948-49, playing 25
between 1949-50 and 1967-68, scoring 5,434 runs
George Thoms added 298 for the first wicket
matches for the Swans in two seasons before
at 37.47 with 6 centuries and 36 half-centuries and
partnership (still a club record) against Essendon
crossing to Hawthorn-East Melbourne in 1950-51.
a highest score of 133 and also took 81 catches.
in 1949-50. He was good enough to play three
He played 148 matches for the Hawks before
Shaw was a member of South Melbourne’s
Victorian 2nd XI matches in 1949-50, but it was off-
retiring after the 1968-69 season. In his 173
premiership teams of 1952-53 and 1967-68. He
field that Murray left the biggest impression.
District matches, he scored 6,821 runs at 36.47,
also topped the VCA batting averages in 1952-53
including 15 centuries, the highest of which was
(538 runs at 59.77) and 1955-56 (458 at 76.33).
Murray taught at University High School from 1950
an unbeaten 209 against Richmond in 1954-55.
to 1978, coaching the senior cricket and football
Chambers played in two premierships with the
Shaw played 48 first class matches for Victoria
teams for the majority of this time and was
Hawks - in 1950-51 and 1955-56.
from 1953-54 to 1960-61, scoring 2,942 runs at 41.43, with 3 centuries and 23 half-centuries and
considered the doyen of schoolboy coaches. He oversaw the schoolboy careers of dozens of VFL
In 1959-60, Chambers scored four successive
taking 33 catches. His best season was 1957-58
footballers including John Coleman, Allen Aylett
centuries, 138 v St Kilda, 129* v Footscray, 108 v
when he scored 751 runs at 62.58, which included
and Brent Crosswell and many Test and State
Northcote and 101 v Richmond in a hot streak of
his highest first class score of 167 against NSW
cricketers including Ray Bright, Jack Potter, Gary
at Sydney. He also toured New Zealand in 1959-60 with an Australian team captained by Ian Craig,
Cosier and John Scholes. He was later principal of After retiring from District Cricket in 1969,
scoring 203 runs at 29.00 in the four unofficial
Chambers continued to play for several years with
“Tests”. Shaw scored 120 in the first tour match
Murray coached and managed numerous VCA
the Hawks’ Sub-District sides. He later served
against Auckland at Eden Park.
and VSCA Youth teams through the 1970s and
as President of Waverley Cricket Club. He was
1980s, including the 1983 Australian U19 Tour of
Waverley Delegate to the VCA from 1979 until 1992
England. He became a VCA Delegate for Fitzroy
and Chairman of State Selectors from 1982 until
(1978-79 to 1990-91), served on the CV Pennant
1990. He was also an inaugural member of the CV
Committee (1980-81 to 1990-91) and was awarded
200 Club when it was established in 1985.
Glen Waverley High and Vermont High.
Life Membership upon his retirement after the 1990-91 season.
When he retired as a Delegate in 1992, Chambers was awarded CV Life Membership, in appreciation
Murray was thrilled to be inducted into the CV
of his outstanding contribution to cricket in this
200 Club in 2014-15, when games as non-playing
coach of Fitzroy in the 1960s and 1970s were finally recognised.
8 | CRICKET VICTORIA
6 JUNE 1928 - 14 AUGUST 2017
18 AUGUST 1957 - 10 MARCH 2018
10 MAY 1937 - 10 DECEMBER 2017
Neil Smyth was the number 2 wicket-keeper to
Cricket Victoria received the sad news that Peter
Noel Shaw was a right-arm fast bowler who played
Melbourne and Victorian stumper Ian “Skeeter”
Davies passed away on 10 March aged 60.
89 matches for Collingwood from 1955-56 to 1963-
McDonald for five years before crossing to Prahran
64. He took 244 wickets at 17.03 for the Magpies
in 1951-52. He had a successful decade with
Davies was a member of the CV 200 Club and
with best figures of 9/25 against Carlton in 1957-
his new club, being a member of the 1954-55
a former Victorian player. A fine left-handed
58 (still a club record).
premiership team, one of the best-balanced
batsman for Waverley (173 matches) and
combinations Prahran fielded in history.
Richmond (96 matches) between 1974-75 until
1957-58 was Shaw’s most productive season,
1994-95, altogether he scored 8,088 runs at an
taking 45 wickets at 11.48. A month after his effort
A neat wicket-keeper and useful batsman, Smyth
average of 33.84, with 14 centuries and 36 half-
against Carlton, Shaw was selected for Victoria’s
made 1162 runs at 12.76 with a highest score of
centuries, with a highest of 180 against Frankston
western tour. 12th man in Adelaide, Shaw made
69. He also played three times for Victoria against
Peninsula at Punt Road Oval in 1993-94. He also
his debut in Perth in the match against Western
Tasmanian teams, making 33, 46, 4 and 12 and
took 56 wickets (best 6/48) with his right-arm
Australia. Shaw took 3/23 in WA’s second innings
taking four catches and two stumpings.
off-spin and 95 catches and was a member of the
as the Vics cruised to a 10-wicket victory, but it
Tigers’ premiership team in 1989-90.
was his only first class appearance.
A company representative with Amatil, he would have made many more state appearances except
Davies played six first class matches for the
for McDonald’s presence. Recruited by Melbourne
Bushrangers in 1981-82 and 1982-83, scoring 240
from Melbourne Grammar, his polished displays
runs at 21.81, with a top score of 57 against SA at
proved to be one of Prahran’s major strengths of
Adelaide Oval in March 1982.
DREW MORPHETT 22 AUGUST 1948 - 25 AUGUST 2017 Cricket Victoria was sad to receive the news of Drew Morphett’s passing on 25 August, aged 69. Drew Morphett was a veteran sports broadcaster who started his career at the ABC in 1966, and commentated every Test cricket match in Australia over an eight-year period. His great contribution to cricket, and many other sports, over the airwaves will not be forgotten, and Cricket Victoria extends sincere condolences to his family and friends.
ANNUAL REPORT 2017-18 | 9
BUSHRANGERS & VICSPIRIT 2017-18 SEASON Season 2017-18 was a year of change for the
Chris Tremain was a standout for the season,
Bushrangers and VicSpirit both on and off the
topping the wicket takers table with 51 scalps at
21.07 and earning both the JLT Sheffield Shield Player of the Season award and the prestigious
An abundance of debutants throughout the JLT
Bill Lawry medal at Cricket Victoria’s State, Big
One Day Cup, JLT Sheffield Shield and Women’s
Bash and Media Awards night.
National Cricket League (WNCL) tournaments, as well as new captains in Peter Handscomb and
In a season of development for the VicSpirit in the
Kristen Beams, signalled the beginning of a new
WNCL, highlights included victory over Tasmania
era for Victoria.
in the first women’s domestic cricket match at the MCG since 2012, as well as Kristen Beams’
Brilliant individual performances were the shining
remarkable all-round performance against
light in an otherwise disappointing JLT One Day
Queensland, claiming figures of 5-13 before
Cup campaign that mirrored that of the previous
leading the run chase with 59 not out.
two tournaments as the Bushrangers bowed out in the semi-finals.
Beams also claimed the Sharon Tredrea medal at Cricket Victoria’s State, Big Bash and Media
Highlights included Will Sutherland’s figures of
Awards night in recognition of her outstanding
4-11 in just his second List A match against a
strong New South Wales side, as well as Cameron White’s demolition at the WACA against Tasmania
At the conclusion of the season, it was announced
where he struck a personal best knock of 165.
that both the Bushrangers and VicSpirit monikers would cease to exist, and from 2018-19 onwards
Peter Siddle dominated all oppositions in his
both sides would play as the Victorian Cricket
career best white ball season, claiming nine
Team under the traditional VCA logo.
wickets at an economy rate of 3.95, the best across the tournament. Chasing a fourth straight JLT Sheffield Shield title in a golden era for Victorian red ball cricket, the Bushrangers had a slow start to the season claiming four draws and a loss ahead of the midseason break. Returning to form following the BBL break, an historic victory late on Day 4 at the newly launched CitiPower Centre at Junction Oval over New South Wales gave Victoria a chance of yet another Sheffield Shield final berth, however a rampant
View and download PDFs
Tasmania dispelled all hope in what became Queensland’s championship.
10 | CRICKET VICTORIA
Victorian Bushrangers Batting Averages
Victorian Bushrangers Bowling Averages
VicSpirit Batting Averages
VicSpirit Bowling Averages
COMMONWEALTH BANK FUTURE STAR AWARD
Elite Brother and Sister cricket duo Will and
Introduced in 2005-06, the Commonwealth Bank
Annabel Sutherland were named the 2017-18
Future Star Awards are presented each year to the
Commonwealth Bank Future Star Award winners
best Under-19 Victorian male and female player
as the stateâ€™s best up and coming young talents.
based on performances throughout the season, with nominations selected by a panel of committee
Will Sutherland burst onto the scene in the JLT
members on a monthly basis.
One-Day Cup in October when the quick claimed figures of 4-11 against a strong New South Wales
line-up at North Sydney Oval in just his second
2017-18: Will Sutherland & Annabel Sutherland
2016-17: Will Pucovski & Makinley Blows 2015-16: Adam McMaster & Georgia Wareham
Will played three matches for the tournament
2014-15: Sam Grimwade & Tayla Vlaeminck
before returning to Melbourne to continue focusing
2013-14: Matt Short & Sophie Molineux
on his VCE studies.
2012-13: Ben Ashkenazi & Kirsty Lamb 2011-12: Meyrick Buchanan & Anna Lanning
In remarkably similar fashion, Annabel Sutherland
2010-11: Dylan Kight & Molly Strano
starred on debut for the Melbourne Stars against
2009-10: Alex Keath & Cassie Brock
the Adelaide Strikers at the Adelaide Oval,
2008-09: David King & Meg Lanning
claiming a wicket with her first ball and three
2007-08: Michael Hill & Elyse Villani
within seven, before snaring 4-20 for the match.
2006-07: Kumar Sarna & Jessica Cameron 2005-06: Aaron Finch & Emma Inglis
Annabel played out the remainder of the rebel WBBL|03 tournament and became a key part of the Starsâ€™ bowling line-up.
ANNUAL REPORT 2017-18 | 11
MELBOURNE RENEGADES REVIEW
The Melbourne Renegades delivered record
native country. India defeated Afghanistan in the
membership and crowds throughout the seventh
final, with Renegades and Afghan all-rounder
instalment of the KFC BBL and the third season of
Mohammad Nabi a keen on-looker.
the Rebel WBBL. The Melbourne Renegades would like to thank Under the leadership of Coach Andrew McDonald
Chairman Jason Dunstall and Board Members
and Captain Aaron Finch, the BBL side reached
Jamie McPhee, Chris Nikou, Suzana Ristevski,
the finals for just the second time in club history,
Liam Pickering, Paul Jackson and Gayle While for
while the WBBL side led by Coach Tim Coyle and
their leadership of the club.
Captain Amy Satterthwaite fell just short of a maiden finals appearance.
Special thanks are also extended to Mars (Principal Partner), carsales (Major Partner – BBL
Throughout BBL|07 141,576 people attended
and WBBL), Nylex (Co-major partner), Towards
Renegades home matches – a rise of 18 per cent,
Zero TAC (WBBL Principal Partner), VicHealth
while a final membership tally of 10,808 (up from
(WBBL Official Partner), Avalon Airport (WBBL
8,831 in BBL|06) represented a club and league
Co-major Partner), Gree Air Conditioners (Coaches
Partner), Victorian Responsible Gambling Foundation (Official Partner), Suzuki (Official
The Renegades took a home match to Geelong for
Vehicle Partner), White Ribbon (Official Charity
the first time. The double-header was played at
Partner), Gray Nicolls (Official Supplier), The
GMHBA Stadium in front 23,856 people - a record
Cullen (Official Accommodation Partner) and the
for a non-AFL match at the venue. The club’s
City of Greater Geelong.
Family Day and a pre-season camp were also held in the region. Tom Cooper and Satterthwaite were crowned ‘Player of the Season’ for their respective sides. Cooper returned 298 runs at an average of 49.67. Satterthwaite posted 368 runs at an average of 33.45, while also taking 11 wickets. The New Zealand international was also voted the competition’s player of the season. Jack Wildermuth and Sophie Molineux made their T20I debuts for Australia following the completion of the Big Bash, while Tayla Vlaeminck and Georgia Wareham were chosen to represent the Australian u/19 team on the tour of South Africa. The Melbourne Renegades Champions League was staged for the third season. The T20 tournament sees the best local players of South Asian origin from around Melbourne represent their
12 | CRICKET VICTORIA
MELBOURNE STARS REVIEW
A challenging 2017-18 season for the Melbourne
Harper and James Faulkner from the playing
Stars provides opportunity for reflection and
group. The Melbourne Stars would like to thank
each player for their services to the Club.
Despite a challenging season on-field, the
The Melbourne Stars are also incredibly grateful
Melbourne Stars managed to achieve record
for the support of its loyal and passionate
membership of 10,544, total match attendance of
Members, as well as corporate partners.
over 158,000 throughout the season and surpassed its one millionth attendee through the MCG.
This year was no exception, with Optus becoming the first sponsor to sit across both BBL and WBBL
The Stars’ community program provided increased
teams and continuing to set the standard with
connections across regional Victoria with practice
initiatives such as ‘Save Our Rhinos.’ All Stars
matches in the Albury-Wodonga and La Trobe
partners have provided the club and fans with
Valley regions and a pre-season Coach’s Roadshow
some incredible initiatives including co-major
to Stars Clubs throughout the state.
partner National Storage’s Augmented Reality partnership and Cabots’ match day deck which
On-field, the men encountered their most
drove outstanding fan engagement activations
challenging season to date. Under new captain
throughout the season.
John Hastings the team failed to deliver upon pre-tournament expectations. Despite this, the
The Stars would like to thank everyone connected
emergence of players such as Seb Gotch and Liam
with the club, especially the staff and Board, led
“the Wizard” Bowe as genuine Twenty20 players
by Eddie McGuire AM, John Wylie AM, Sharelle
McMahon, Malcolm Smith, Claudia Fatone and Damien Fleming. The ongoing guidance and
Meanwhile, the WBBL side under the leadership
support of this Club by all involved is second to
of Kristen Beams had an injection of new
players including internationals Georgia Elwiss, Mignon Du Preez and Lizelle Lee plus locals Nicole Faltum, Erin Osborne, Chloe Rafferty and Annabel Sutherland. The team performed above expectations, defeating finalists Perth Scorchers on their home deck as well as cross-town rivals the Melbourne Renegades in a thrilling MCG Super Over, laying the framework for some exciting years ahead. Glenn Maxwell and Erin Osborne were named Players of the Season for the club. At season’s end, the Melbourne Stars farewelled Kevin Pietersen (retired), crowd favourite Rob Quiney (retired), Gemma Triscari (retired), Ben Hilfenhaus, Luke Wright, John Hastings, Sam
ANNUAL REPORT 2017-18 | 13
PREMIER CRICKET REVIEW
Dandenong Cricket Club were the toast of Victorian Premier Men’s Cricket in season 2017/18, taking home the First XI ‘double’ with victories over Fitzroy Doncaster in the 3-day end of season Final and over Carlton in an eventful White Ball Final in January. Credit must also go to Fitzroy Doncaster for winning the CV Club Championship for the first time since 1961/62, with all four sides making the Finals and making their third consecutive Men’s Premier 1st XI Final. This was great recognition for the work done by Lions coach Mick O’Sullivan, who for the first time won a Club Championship in his many years of involvement in Victorian Premier Cricket. Fitzroy Doncaster all-rounder Trent Lawford was destructive with both bat and ball in the Lions’ push for a three-peat. Lawford’s strong bowling form and destructive batting throughout the season saw him win the Jack Ryder Medal by 4 votes over Ringwood’s David King. Frankston Peninsula were the winners of the Men’s Spirit of Cricket Award for season 2017/18, while Dandenong won the Women’s Spirit of Cricket Award. Lower XI Red Ball Premiers were St Kilda (Seconds), Melbourne Uni (Thirds) and Carlton (Fourths), whilst St Kilda (Seconds), Geelong (Thirds) and Monash Tigers (Fourths) shared the spoils in the Lower XI White Ball Finals. In the Premier Women’s Firsts One Day competition, a cracker of a Final was played at Walter Galt Reserve. Box Hill pinched victory from the jaws of defeat against Essendon Maribyrnong Park to win the Agnes McDonnell Trophy for the fourth time in the last five seasons, winning on the last wicket with just 2 deliveries remaining.
14 | CRICKET VICTORIA
Box Hill speedster Hayleigh Brennan won the Betty Wilson Medal for Player of the Final with 6/24 off 10 overs and 11* (including the winning runs). Essendon Maribyrnong Park were the dominant club across the season, taking out the Women’s Premier Reserves One Day title over Melbourne at Casey Fields (Taryn Heddo was Player of the Match) and both the Women’s Premier Firsts and Women’s Premier Seconds T20 titles at the Harry Trott Oval in February. The Bombers defeated Melbourne in the Firsts and Carlton-Brunswick in the Seconds to take the double. Jenny Taffs (Firsts T20) and Maryam Omar (Seconds T20) receiving the Player of the Match awards in the respective games. In the Women’s Premier Seconds One Day Final, Ringwood caused the upset of the season by defeating the previously undefeated CarltonBrunswick by three wickets. Ringwood’s Kylie Walters was the Player of the Match. A familiar face again adorned the Una Paisley Medal. Box Hill skipper Anna Lanning was again crowned the Women’s Premier Firsts One Day Player of the Season (having won the award previously in 2014/15), polling 25 votes to hold off Essendon Maribyrnong Park’s Molly Strano by one vote, with Dandenong’s Sophie Molineux third a further 6 votes behind Strano. Notable retirees from Premier Cricket ranks after last season included former Australian representative Rob Quiney, 2013/14 Ryder Medallist James Miller, former Victorian batsman Lloyd Mash and former Victoria Women’s representatives Cassie Brock and Leanne Leggieri. View and download PDFs
Men’s Premier Cricket Batting Averages
Women’s Premier Cricket Batting Averages
Men’s Premier Cricket Ladders
Men’s Premier Cricket Bowling Averages
Women’s Premier Cricket Bowling Averages
Women’s Premier Cricket Ladders
ANNUAL REPORT 2017-18 | 15
GAME & MARKET DEVELOPMENT
The 2017-18 cricket season delivered substantial
Other highlights over the 2017-18 season include:
growth in participation, with Victoria now the number one state for overall cricket participation.
The growth of the National Indoor Cricket
T O TA L PA R T I C I PAT I O N
League with Essendon Maribyrnong Park The measure of participation includes activity
CC and Cricket Southern Bayside joining the
across three key areas - club, school and indoor
cricket. A participant is defined as someone who has participated in the sport a minimum of four
The successful hosting of the National Cricket Inclusion Championships in Geelong
with Victoria represented in every division In clubland, over 8,000 cricket teams played cricket ‘week in week out’, representing 1,083
The Heads of Agreement signed by South
clubs across 75 cricket associations. The overall
East Cricket Association, Inner South East
growth in cricket participation is pleasing given the
Cricket and Cricket Southern Bayside to
focus on increasing opportunities for women and
form an overarching governing body for
girls to play cricket in addition to the inclusion of
cricket in that zone which offers increased
aligned junior cricket formats.
opportunities for participation in addition to support and servicing of cricket clubs
The successful roll out of the national junior formats was arguably the most pleasing
The successful trial and partnership with
development for Community Cricket in 2017-18.
Cricket Australia, Inner South East Cricket
The progression from three associations in 2016-
and the City of Stonnington of portable
17 to 24 associations in 2017-18 was indicative
pitches for junior cricket matches
of the groundswell of support from cricket association officials, clubs, parents and players.
426,959 13.46% #1 FOR PARTICIPATION NATIONALLY 137,875
for All’ awards at the MCG that showcased and recognised Victoria’s finest associations,
improved, with more balls in play due to the
clubs, volunteers and community partners
shortened pitch and more action for players due to fewer players per team. The following areas below
The growth of the Year 7 & 8 Girls Leadership
The inaugural and highly successful ‘A Sport
The quality of experience for junior cricket also
CLUB CRICKET PARTICIPATION
YOY GROWTH IN PARTICIPATION
were measured to assess the impact of the junior
Forum, where over 600 girls registered
formats in comparison to previous seasons via
and participated in the industry leading
Despite the wonderful results of the 2017-18 season,
professional development program
a wide number of challenges still exist. This includes the need to ensure the game provides broader
J U N I O R F O R M AT S
4% WICKETS TAKEN
10% RUNS SCORED
11% WIDES AND
BYES CONCEDED PER OVER
The continued growth and success of the
benefits from a health and well-being perspective as
Melbourne All Abilities Cricket Association
well as to ensure cricket is inclusive and genuinely a
and the Harmony in Cricket Association.
sport for all Victorians.
These two associations provide cricket opportunities for people in a way that
The rise of new entertainment options such as
compliments the traditional cricket structure
eSports are also strong competitors going forward. These challenges are confronting, yet they provide an
These achievements owe much to the support of
opportunity for cricket to adapt and evolve.
community cricket volunteers, government and non-government partners as well as hard working
Based on the achievements of 2017-18, there is a
staff whose passion and dedication to the job at
sense that cricket in Victoria is prepared to meet
hand is incredible.
these challenges and adapt to ensure we remain the number one summer sport in Victoria.
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COMMUNITY CRICKET TOTAL FEMALE PARTICIPATION - 2017-18 Cricket Victoria had several key achievements in the community space across the 2017-18 season, including partnering with the Midsumma Festival
and participation in our first Pride March in January 2018. CV also hosted pre-march activities, promoting our new Proud Cricket initiative which provides both a welcoming and inclusive environment for our LGBT+ community to play and enjoy cricket. With support from Premier Cricket Clubs Northcote and St Kilda, as well as the Federation
MULTICULTURAL PARTICIPATION - 2017-18
of Victorian Traditional Owner Corporations, we also provided our first indigenous scholarships to two young men from the CV Noogal Toengorrt
Tani development squad. These scholarships are designed to develop cricket skills and physical performance with the long term objective of producing more Indigenous high performing cricketers. CV also established the International Student Academy in partnership with Study Melbourne.
INDIGENOUS PARTICIPATION - 2017-18
This initiative uses cricket as a platform to support student settlement and promote health and wellbeing through physical activity and
playing a team sport. In addition, CV also provided specifically designed multicultural coaching courses that resulted in 51 new coaches who are now supporting cricket in our diverse community.
CV are proudly supporting the #ThisGirlCan initiative with VicHealth and developed our first social cricket initiative, “Social Sixes”. Social
DISABILITY PARTICIPATION - 2017-18
Sixes was designed to engage and provide more opportunities for women to play cricket. It’s a fun, short, fast and exciting format, which breaks away from the traditional forms of cricket, and will
continue to grow in the years to come.
ANNUAL REPORT 2017-18 | 17
STATE, MEDIA & PREMIER AWARD WINNERS 2017-18 STATE AWARDS WINNERS Bill Lawry Medal Chris Tremain
Melbourne Renegades BBL Player of the Season Tom Cooper
John Scholes Players Award Scott Boland
Melbourne Stars WBBL Player of the Season Erin Osborne
Dean Jones Medal Peter Siddle
Melbourne Stars BBL Player of the Season Glenn Maxwell
Sharon Tredrea Award Kristen Beams
Commonwealth Bank Future Star Awards Annabel Sutherland and Will Sutherland
Melbourne Renegades WBBL Player of the Season Amy Satterthwaite 2017-18 MEDIA AWARDS WINNERS Cricket Victoria Award Peter Lusted (ABC)
Suburban Community Award Tim Michell (Leader Newspapers)
Premier Cricket Award Luke D’Anello (Leader Newspapers)
BBL & WBBL Award Sam Landsberger (Herald Sun)
Commonwealth Bank Bushrangers Award Louis Cameron (Cricket Network)
Commonwealth Bank VicSpirit Award Daniel Cherny (The Age)
Country Award Luke Hemer (Riverine Herald)
Photography Award Michael Dodge (Getty Images) 2017-18 PREMIER CRICKET AWARDS WINNERS
Jack Ryder Medal Trent Lawford (Fitzroy Doncaster) Una Paisley Medal Anna Lanning (Box Hill) Spirit of Cricket Award Men’s - Frankston Peninsula / Women’s - Dandenong Men’s Team of the Season 1. David King (Ringwood) 2. Brett Forsyth (Dandenong) 3. Eamonn Vines (Geelong) - Captain 4. Harrison Smyth (Carlton) 5. Liam Tonkin (Frankston Peninsula) 6. Tom Smyth (Carlton) 7. Dylan Kight (Footscray) 8. Trent Lawford (Fitzroy Doncaster) 9. James Nanopoulos (Dandenong) 10. Ejaaz Alavi (Fitzroy Doncaster) 11. Matthew Doric (Essendon) 12. Will Walker (Camberwell Magpies)
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Women’s Team of the Season 1. Amy Vine (Melbourne) 2. Emma Inglis (Prahran) - Captain 3. Anna Lanning (Box Hill) 4. Jenny Taffs (Essendon Maribyrnong Park) 5. Kylie Crowley (Melbourne) 6. Annabel Sutherland (Prahran) 7. Molly Strano (Essendon Maribyrnong Park) 8. Zoe Griffiths (Box Hill) 9. Anna O’Donnell (Melbourne) 10. Hayleigh Brennan (Box Hill) 11. Gemma Triscari (Prahran) 12. Cassie Brock (Box Hill) Players of the Season 2nd XI - Ryan Quirk and Joshua Slater (Dandenong) 3rd XI - Theophilus Lawson (Dandenong) 4th XI - Alistair McCooke (Melbourne) Sue Woolcock Award / June Cole Award Alex Rogers (Carlton-Brunswick) / Jaide Anthony (Prahran)
OUR PARTNERS WOULD LIKE TO THANK THE FOLLOWING PARTNERS FOR THEIR SUPPORT
ANNUAL REPORT 2017-18 | 19
VICTORIAN CRICKET ASSOCIATION A.B.N. 28 004 128 812
SPECIAL PURPOSE FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2018 Directors’ Report
Auditor’s Independence Declaration
Independent Auditor’s Report
Consolidated Financial Statements
20 | CRICKET VICTORIA
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Consolidated Statement of Financial Position
Consolidated Statement of Changes in Equity
Consolidated Statement of Cash Flows
Notes to the Consolidated Financial Statements
The directors of the Victorian Cricket Association and controlled entities (“the Group”) submit herewith the special purpose financial report of the group for the financial year ended 30 June 2018. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows: The names and particulars of the directors of the company during or since the end of the financial year are: Name
Mr RW Thomas
Chair Cricket Victoria Board, Chair People & Culture Committee, Chair Nominations Committee
Mr PW Jackson
Deputy Chair Cricket Victoria Board, Chair Audit & Risk Committee, People & Culture Committee, Director Melbourne Renegades Pty Ltd
Ms C Fatone
Chair Melbourne Metropolitan Steering Committee, Director Melbourne Stars Ltd, Good Governance Committee
Mr T Considine
Audit & Risk Committee
Mr P Barker
Non Executive Director
Audit & Risk Committee, People & Culture Committee, Nominations Committee
Dr D Maddocks
Audit & Risk Committee
Dr M King (ceased 28 Aug 2017)
Ms T Best (appointed 28 Mar 2018)
Mr P Williams (appointed 28 Aug 2017)
Non Executive Director
Good Governance Committee
The above named directors held office during and since the end of the financial year unless otherwise stated.
ANNUAL REPORT 2017-18 2016-17 | 21
PRINCIPAL ACTIVITIES The principal activities of the Group during the financial year were the ongoing promotion, management and control of cricket in the State of Victoria, through the provision of a range of activities including game development programs, coaching, talent identification and development, staging of State matches, along with other activities to continue to provide valuable resources for the ongoing growth and promotion of the game of cricket throughout Victoria. The objectives of the Group continues to be Australia’s leading cricket state, representing grassroots cricket throughout Victoria, enhanced by the delivery of the best high performance system for elite men’s and women’s cricket and to grow our fan base through the Big Bash. There were no significant changes in the nature of the Group’s activities during the year. This financial year, the Revenue of the Group and parent company included grant funding of $2,770,800 from Parks Victoria relating to the redevelopment of the Junction Oval. The redevelopment of Junction Oval was completed on time in early 2018 and within budget of $40.9m. The reported profit also includes $8.4m gain from the sale of the Group’s former head office in Jolimont St, East Melbourne.
Merchandise) and the gain on the sale of Jolimont Street. This was partially offset by a reduction in revenue relating to grants and interest income associated with funding for Junction Oval. Profit Activities during the 2018 financial year returned a profit for the group of $14,619,536 (2017: $13,770,149). Activities during the 2018 financial year returned a profit for the company of $13,594,391 (2017: $11,501,978). After adjusting for the profit on sale of Jolimont Street of $8,375,200, the revaluation of investment properties of $4,340,000, VCCC gifted assets of $2,443,800 and VCCC grants of $327,000. The profit / (loss) for the group was $(866,464) (2017: $970,149) and for the company $(1,891,609) (2017: -$1,298,022). The net assets for the Group increased by $14,619,536 due to the gain on disposal of Jolimont Street, the increase in the fair value of investment properties, and the completion of the redevelopment of Junction Oval. CHANGES IN STATE OF AFFAIRS During the year the company took on the responsibility of managing the CitiPower Centre at Junction Oval including all match day operations, training facilities, hospitality, and commercial partnerships.
REVIEW OF OPERATIONS
Highlights The operations of the Group during the financial year continued to engage in its principal activities, the results of which are disclosed in the financial statements.
There has not been any matter or circumstance occurring subsequent to the end of the financial year that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations, or the state of affairs of the company in future financial years.
Revenue In 2018, the Group’s revenue was $59,555,725, representing an increase of $7,416,673 versus the prior year. The movement in revenue can be attributed to the revaluation of investment properties valued at an additional $4.3m, the realisation of the Junction Oval Stands gifted from Parks Victoria at a value of $2.4m, increased revenue from Cricket Australia, increased revenue from cricket matches, increase in sponsorship revenue, other revenue increases (Memberships and
22 | CRICKET VICTORIA
FUTURE DEVELOPMENTS Disclosure of information regarding likely developments in the operations of the Group in future financial years and the expected results of those operations is likely to result in unreasonable prejudice to the Group. Accordingly, this information has not been disclosed in this report.
ENVIRONMENTAL REGULATIONS The Group’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory. DIVIDENDS In respect of the financial year ended 30 June 2018, no dividends were declared or paid (2017: $Nil). The company is a public company limited by guarantee, is a not for profit and is therefore precluded from paying dividends. BOARD STRUCTURE The directors of the Victorian Cricket Association consist of six elected directors and a maximum of three appointed directors. The term of the elected directors is up to three years with two elected directors elected at each Annual General Meeting. The term of each elected director will expire at the conclusion of the third Annual General Meeting following their election. Elected directors are eligible for re-election following expiry of their term. The elected directors may appoint a maximum of three Appointed Directors for a term not exceeding three years. The appointed directors shall be on a rotational basis with no more than one Appointed Director appointed each year for a term of three years. Appointed Directors are eligible for further appointment following expiry of their term.
DIRECTORS MEETINGS The following table sets out the number of directors’ meetings held during the financial year and the number of meetings attended by each director (while they were a director). During the financial year, 10 board meetings were held. *Resigned 28 August 2017 ~Appointed 28 August 2017 ^Appointed 28 March 2018
Board Meetings Held
Mr RW Thomas
Mr P Barker
Ms T Best^
Ms C Fatone
Mr T Considine
Mr P Jackson
Dr M King*
Dr D Maddocks
Mr P Williams~
COMMITTEES Three key standing committees have been established to assist the Board in fulfilling its responsibilities: i) Audit & Risk Committee - oversees financial reporting, risk management and internal controls, external audit, insurance and capital management. ii) People and Culture Committee - oversees training, development and succession planning, performance and remuneration and company diversity. iii) Nominations Committee - oversees Board composition (gender diversity), identification & appointment of independent directors, evaluation and development of Board skills matrix. RECOGNISING AND MANAGING RISK The Board is responsible for ensuring the adequacy of the Victorian Cricket Association’s risk management and is assisted in doing this by the Audit and Risk Committee. This includes ensuring the
establishment, implementation and annual review of the Victorian Cricket Association risk management systems, ensuring that they are designed to protect the Company’s reputation and manage key business, strategic and financial risks. The Audit and Risk Committee reviews the Risk Management Framework on a regular basis and satisfies itself that management has appropriate systems in place for managing risk and maintaining internal controls. The CEO and senior management team are responsible for identifying, evaluating and monitoring risk in accordance with the risk management framework. INDEMNIFICATION OF OFFICERS AND AUDITORS
was not party to any such proceedings during the year. AUDITOR’S INDEPENDENCE DECLARATION The auditor’s independence declaration is included on page 24 of the annual report. MEMBERS GUARANTEE The Parent is a public company limited by guarantee. If the Parent is wound up, the Articles of Association state that each member is required to contribute a maximum of $100 towards meeting any outstanding obligations of the company. At 30 June 2018 the number of voting members was 22 (2017: 22). ROUNDING
Clause 99 of the Articles provides that the Company will, to the extent permitted by law, indemnify officers of Group companies in respect of any liability incurred by the officer in or arising out of the proper performance of any duty of the business of the Association or of such wholly owned subsidiaries. Each director of the Victorian Cricket Association has entered into a Deed of Indemnity, Access & Insurance with the company. No director of the Company has received a benefit under an indemnity from the Company during the year ended 30 June 2018 or to the date of this report. The Company has paid an insurance premium in respect of an insurance contract that covers directors and officers of the Group of Companies against any liability arising in or out of the conduct of the business of the Group and the proper performance of any duty of that Director or Officer. Due to the confidential undertakings of the policy, no further details in respect of the premium or policy can be disclosed.
The Victorian Cricket Association is a Company of the kind referred to in ASIC corporations (Rounding in Financial/ Directors Reports) instrument 2016/191. In accordance with that instrument, amounts in the Directors’ Report and Financial Report are rounded off to the nearest whole dollar, unless otherwise indicated. Signed in accordance with a resolution of the directors made pursuant to s.298(2) of the Corporations Act 2001.
Mr RW Thomas Chair, Victorian Cricket Association Melbourne, 30 July 2018
PROCEEDINGS ON BEHALF OF THE COMPANY No person has applied for leave of Court to bring proceedings on behalf of the Group or intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of the company for all or any part of those proceedings. The Group
ANNUAL REPORT 2017-18 | 23
Auditorâ€™s Independence Declaration As lead auditor for the audit of Victorian Cricket Association for the year ended 30 June 2018, I declare that to the best of my knowledge and belief, there have been: (a)
no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
no contraventions of any applicable code of professional conduct in relation to the audit.
This declaration is in respect of Victorian Cricket Association and the entities it controlled during the period.
Andrew Cronin Partner PricewaterhouseCoopers
Melbourne 30 July 2018
PricewaterhouseCoopers, ABN 52 780 433 757 2 Riverside Quay, SOUTHBANK VIC 3006, GPO Box 1331, MELBOURNE VIC 3001 T: 61 3 8603 1000, F: 61 3 8603 1999, www.pwc.com.au Liability limited by a scheme approved under Professional Standards Legislation. 24 | CRICKET VICTORIA
Independent auditor’s report To the members of Victorian Cricket Association
Our opinion In our opinion: The accompanying financial report of Victorian Cricket Association (the Company) and its controlled entities (together the Group) is in accordance with the Corporations Act 2001, including: (a)
giving a true and fair view of the Group's financial position as at 30 June 2018 and of its financial performance for the year then ended
complying with Australian Accounting Standards to the extent described in Note 1 and the Corporations Regulations 2001.
What we have audited The Group financial report comprises: •
the consolidated statement of financial position as at 30 June 2018
the consolidated statement of changes in equity for the year then ended
the consolidated statement of cash flows for the year then ended
the consolidated statement of profit or loss and other comprehensive income for the year then ended
the notes to the consolidated financial statements, which include a summary of significant accounting policies
the directors’ declaration.
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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 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.
PricewaterhouseCoopers, ABN 52 780 433 757 2 Riverside Quay, SOUTHBANK VIC 3006, GPO Box 1331, MELBOURNE VIC 3001 T: 61 3 8603 1000, F: 61 3 8603 1999, www.pwc.com.au Liability limited by a scheme approved under Professional Standards Legislation.
9 ANNUAL REPORT 2015-16 2017-18 | 25
Emphasis of matter - basis of accounting and restriction on use We draw attention to Note 1 in the financial report, which describes the basis of accounting. The financial report has been prepared for the purpose of fulfilling the directors' financial reporting responsibilities under the Corporations Act 2001. As a result, the financial report may not be suitable for another purpose. Our report is intended solely for Victorian Cricket Association and its members and should not be used by parties other than Victorian Cricket Association and its members. Our opinion is not modified in respect of this matter.
Other information The directors are responsible for the other information. The other information comprises the information included in the Director's Report for the year ended 30 June 2018, but does not include the financial report and our auditor’s report thereon. 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 identified above 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 on the other information obtained prior to the date of this auditor’s report, 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.
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 and have determined that the basis of preparation described in Note 1 to the financial report is appropriate to meet the requirements of Corporations Act 2001 and is appropriate to meet the needs of the members. The directors' responsibility also includes such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group 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
26 | CRICKET VICTORIA
if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/auditors_responsibilities/ar3.pdf. This description forms part of our auditor's report.
Andrew Cronin Partner
Melbourne 30 July 2018
ANNUAL REPORT 2017-18 | 27
As detailed in Note 3 to the financial statements, the Group is not a reporting entity because in the opinion of the directors there are unlikely to exist users of the financial report who are unable to command the preparation of reports tailored so as to satisfy specifically all of their information needs. Accordingly, this ‘special purpose financial report’ has been prepared to satisfy the directors’ reporting requirements under the Corporations Act 2001. The directors declare that: (a) in the directors’ opinion, there are reasonable grounds to believe that the Group will be able to pay its debts as and when they become due and payable; and (b) in the directors’ opinion, the attached financial statements and notes thereto are in accordance with the Corporations Act 2001, including compliance with accounting standards and giving a true and fair view of the financial position and performance of the company and the Group. (c) The directors have been given the declarations by the Chief Executive Officer and Chief Operating Officer in line with section 295A of the Corporations Act. This declaration is made in accordance with a resolution of the Directors.
Mr RW Thomas Director, Victorian Cricket Association Melbourne, 30 July 2018
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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2018
Continuing operations Revenue
Employee benefits expense
State cricket match expenses
Travel, catering and corporate hospitality
Communication and printing Repairs, hire and equipment
Awards, promotion and advertising
Profit before tax and grants to associated bodies
Income tax expense
Grants to associated bodies
Profit for the financial year
Other comprehensive income Total comprehensive income for the year
The above statement should be read in conjunction with the accompanying notes.
ANNUAL REPORT 2017-18 | 29
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2018
Current assets Cash and cash equivalents
Trade and other receivables
Other financial assets
Other assets Total current assets
Non-current assets Trade and other receivables
Property, plant and equipment
Total non-current assets
Current liabilities Trade and other payables
Total current liabilities
Non-current liabilities Provisions
Total non-current liabilities
Total liabilities Net assets
Retained earnings Share Capital Total equity
The above statement should be read in conjunction with the accompanying notes.
30 | CRICKET VICTORIA
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2018
Share capital $ Balance at 1 July 2016
Retained earnings $
Asset revaluation reserve $
Profit for the year
Other comprehensive income for the year
Total comprehensive income for the year
Transfer to/(from) reserves
Balance at 30 June 2017
Balance at 1 July 2017
Profit for the year
Other comprehensive income for the year
Total comprehensive income for the year
Transfer to/(from) reserves
Balance at 30 June 2018
The above statement should be read in conjunction with the accompanying notes.
ANNUAL REPORT 2017-18 | 31
CONSOLIDATED STATEMENT OF CASH FLOWS AS AT 30 JUNE 2018
Cash Flows from Operating Activities Receipt of grants for VCCC Receipts from customers
Repayment of borrowings
Net cash provided by financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Payments to suppliers and employees Interest received Net cash provided by operating activities
Cash Flows from Investing Activities Payments for property, plant and equipment Proceeds from disposal of property, plant and equipment Net cash inflow/(outflow) from investing activities
Cash Flows from Financing Activities
Cash and cash equivalents at the end of the year
The above statement should be read in conjunction with the accompanying notes.
32 | CRICKET VICTORIA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ABOUT THIS REPORT Victorian Cricket Association (“the company”) is a public company, limited by guarantee, incorporated in Australia and operating in Australia. The company and controlled entities registered office and its principal place of business is as follows: CitiPower Centre Junction Oval 1 Lakeside Drive ST KILDA VIC 3182 The financial statements of the consolidated entity (‘the Group”) consist of the Victorian Cricket Association and its controlled entities. The financial report was authorised for issue by the Board of Directors on 30 July 2018. 1. BASIS OF PREPARATION STATEMENT OF COMPLIANCE These financial statements are special purpose financial statements which have been prepared in accordance with Australian Accounting Standards. These financial statements comprise the consolidated financial statements of the Group. For the purposes of preparing the consolidated financial statements, the Company is a not-for-profit entity. The financial report has been prepared in accordance with the Corporations Act 2001, the recognition and measurement requirements specified by all Australian Accounting Standards and Interpretations, and the disclosure requirements of Accounting Standards AASB 101 ‘Presentation of Financial Statements’, AASB 107 ‘Cash Flow Statements’, AASB 108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’ and AASB 1054 ‘Australian Additional Disclosures’. 2. ADOPTION OF NEW AND REVISED ACCOUNTING STANDARDS 2.1 NEW AND REVISED AASBS AFFECTING AMOUNTS REPORTED AND/OR DISCLOSURES IN THE FINANCIAL STATEMENTS The Directors have reviewed the new or revised AASB’s issued by the Australian Accounting Standards Board (AASB) that are mandatorily effective for an accounting period that begins on or after 1 January 2016. There are no new standards or revisions that affect any amounts recognised in the current period or any prior period and are not likely to affect future periods. 2.2 STANDARDS AND INTERPRETATIONS ON ISSUE NOT YET ADOPTED At the date of authorisation of the financial statements, the Standards and Interpretations listed below were on issue but not yet effective. Standard/ Interpretation
Expected date of adoption
Nature of change
Date of adoption
AASB 9 Financial Instruments
AASB 9 address the classification, measurement and derecognition of financial assets and financial liabilities, introduces new rules for hedge accounting and a new impairment model for financial assets.
The Company does not expect the new standard to have a significant impact on the classification and measurement of its financial assets and liabilities
Must be applied for financial years commencing on or after 1 January 2018.
1 July 2018
AASB 15 Revenue from Contracts with Customers
The AASB has issued a new standard for the recognition of revenue. This will replace AASB 118 which covers revenue arising from the sale of goods and the rendering of services and AASB 111 which covers construction contracts. The new standard is based on the principle that revenue is recognised when control of a good or service transfers to a customer. The standard permits either a full retrospective or a modified retrospective approach for the adoption.
Management is currently undertaking assessment of the impact of the new rules. At this stage the effect on the financial statements has not yet been determined.
Mandatory for financial years commencing on or after 1 January 2019.
1 July 2019
AASB 16 Leases
Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exceptions are short-term and low-value leases.
The standard will affect primarily the accounting for the Company’s operating leases.
Mandatory for financial years commencing on or after 1 January 2019.
1 July 2019
ANNUAL REPORT 2017-18 | 33
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 3. SIGNIFICANT ACCOUNTING POLICIES
PRINCIPLES OF CONSOLIDATION
FINANCIAL REPORTING FRAMEWORK
The consolidated financial statements incorporate the financial statements of the company and entities controlled by the company (its subsidiaries) (referred to as ‘the Group’ in these financial statements). Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The Group is not a reporting entity because in the opinion of the directors there are unlikely to exist users of the financial report who are unable to command the preparation of reports tailored so as to satisfy specifically all of their information needs. Accordingly, the ‘special purpose financial report’ has been prepared to satisfy the directors’ reporting requirements under the Corporations Act 2001. For the purposes of preparing the special purpose financial statements, the Group is a not-for-profit entity. Historical cost convention The financial report has been prepared on the basis of historical cost, except for the revaluation of certain non-current assets and financial instruments. Cost is based on the fair values of the consideration given in exchange for assets. All amounts are presented in Australian dollars. Key estimates and judgements In the application of the Group’s accounting policies, which are described below, the directors are required to make judgements, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The areas involving a higher degree of judgement or complexity, or where assumptions and estimates are significant to the financial statements, are described below: Note 8 - Valuation of Investment Properties Note 9 - Plant & Equipment Income tax No provision for income tax has been raised as the Group is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.
34 | CRICKET VICTORIA
All inter-company balances and transactions between entities in the consolidated entity, including any unrealised profits or losses, have been eliminated on consolidation. Where consolidated entities have entered or left the consolidated entity during the year, their operating results have been included from the date control was obtained or until the date control ceased. Goods and services tax Revenues, expenses and assets are recognised net of the amount of goods and services tax (GST), except: i. where the amount of GST incurred is not recoverable from the taxation authority, it is recognised as part of the cost of acquisition of an asset or as part of an item of expense; or ii. for receivables and payables which are recognised inclusive of GST. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables. Cash flows are included in the cash flow statement on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the taxation authority, are presented as operating cash flows.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2018 $
Gifted Assets (Junction Oval Stands)
Gain on revaluation of Investment Properties
Revenue from cricket matches
4. Revenue and other income Revenue from Cricket Australia
Unrealised gain on revaluation of managed funds
Profit on Sale of Assets
ACCOUNTING POLICIES Revenue is measured at the fair value of the consideration received or receivable.
Revenue from Cricket Australia Revenue from Cricket Australia is generated via contributions from Cricket Australia to support the management of operations of the business, state teams & BBL teams. All revenue from Cricket Australia received throughout the year is recognised in the period in which it specifically relate. Revenue from Cricket matches Revenue from cricket is generated via proceeds from ticket sales, memberships, merchandise and hospitality to T20 Big Bash League matches and domestic state team matches. All revenue from cricket received throughout the year is recognised in the period for which it specifically relate. Interest revenue Interest revenue is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that assetâ€™s net carrying amount. Grant revenue Grants and other contributions are recognised when the Group obtains control of the contribution or right to receive the contribution and it is probable that the economic benefits comprising the contributions will flow to the Group. Sponsorship revenue Sponsorship revenue is recognised when the right to receive the revenue has been established. Other revenue Revenue is recognised when the right to receive the revenue has been established.
5. Profit or (loss) for the year Profit or (loss) for the year has been arrived at after charging the following items to expense:
Bad and doubtful debt expense / (Recovered)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2018 $
Premier Club loans
6. Trade and other receivables Current Trade receivables Less provision for impairment
Non-current Premier Club loans Current & Non Current Loans outstanding to Premier Cricket Clubs as at 30 June 2018 is $84,500 (2017: $119,000). There were no new loans made to Clubs in 2018. ACCOUNTING POLICIES Receivables are initially recognised at invoice value (fair value) and due to their short term nature the carrying amount is considered to be the same as their fair value. An estimate for doubtful debts is made when collection of the full amount is no longer probable.
Accrued income Revenue is recognised on an accrual basis in accordance with the substance of the relevant agreements.
7. Other financial assets Managed funds at fair value
ACCOUNTING POLICIES Investments are recognised and derecognised on trade date where the purchase or sale of an investment is under a contract whose terms require delivery of the investment within the timeframe established by the market concerned, and are initially measured at fair value, net of transaction costs except for those financial assets classified as at fair value through profit or loss which are initially measured at fair value.
Financial assets at fair value through profit or loss Financial assets are classified as financial assets at fair value through profit or loss where the financial asset: (i) has been acquired principally for the purpose of selling in the near future; (ii) is a part of an identified portfolio of financial instruments that the company manages together and has a recent actual pattern of short-term profit-taking; or (iii) is a derivative that is not designated and effective as a hedging instrument.
36 | CRICKET VICTORIA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Financial assets at fair value through profit or loss are stated at fair value, with any resultant gain or loss recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any dividend or interest earned on the financial asset. Fair value is determined in the manner described below. The fair values of financial assets measured at fair value are determined as follows: i) the fair value of financial assets with standard terms and conditions and traded on active liquid markets are determined with reference to quoted market prices; ii) the fair value of other financial assets (excluding derivative instruments) are determined in accordance with generally accepted pricing models based on discounted cash flow analysis. 2018 $
8. Investment property At Independant valuation (2017: Directors valuation)
ACCOUNTING POLICIES Investment property, which is property held to earn rentals and/or for capital appreciation, is measured initially at its cost, including transaction costs. Subsequent to initial recognition, investment property is measured at fair value. Gains or losses arising from changes in the fair value of investment property are included in profit or loss in the period in which they arise. The group obtains independent valuations for its investment properties at least every three years. At the end of each reporting period, the directors update their assessment of the fair value of each property, taking into account the most recent independent valuations. The directors determine a property’s value within a range of reasonable fair value estimates. The best evidence of fair value is current prices in an active market for similar properties. Where such information is not available the directors consider information from a variety of sources including: • current prices in an active market for properties of different nature or recent prices of similar properties in less active markets, adjusted to reflect those differences • capitalised income projections based upon a property’s estimated net market income, and a capitalisation rate derived from an analysis of market evidence. 9. Property, plant and equipment Freehold land at cost $
Buildings at cost* $
Plant and equipment at cost $
Motor vehicles at cost $
2017 Gross carrying value Accumulated depreciation
2018 Carrying value at the beginning of the year Additions
*Included within buildings in 2017 were “Projects in Progress” of $18,295,362 that related to the Junction Oval Development. These were capitalised in 2018 on completion of the Junction Oval redevelopment. ANNUAL REPORT 2017-18 | 37
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ACCOUNTING POLICIES Property, plant and equipment, is initially recorded at cost and then reduced by accumulated depreciation and any impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the item. In the event that settlement of all or part of the purchase consideration is deferred, cost is determined by discounting the amounts payable in the future to their present value as at the date of acquisition. Plant and equipment is depreciated so that the assets are written down to their residual value over their useful lives, using a straight line method. Assets that relate to leases are written off over the period of the lease or useful life, whichever is shorter. Residual values, useful lives and amortisation methods are reviewed annually and adjusted when required. No changes to depreciation rates were made this year. If applicable, Leasehold improvements are depreciated over the period of the lease or estimated useful life, whichever is the shorter, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each annual reporting period, with the effect of any changes recognised on a prospective basis. Depreciation expense is recorded in the statement of profit or loss and other comprehensive income. The following useful lives are used in the calculation of depreciation: Buildings Plant and equipment Motor vehicles
5 - 50 years 2 - 30 years 5 - 7 years
Derecognition and disposal When an asset is sold, scrapped or no longer of use to the business it is derecognised. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net proceeds and the carrying amount of the asset) is recorded in the period the asset is derecognised in the statement of profit or loss and other comprehensive income.
10. Trade and other payables Trade payables Sundry creditors and accruals
ACCOUNTING POLICIES Trade payables and other accounts payable are recognised when the group becomes obliged to make future payments resulting from the purchase of goods and services.
38 | CRICKET VICTORIA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2018 $
Provisions - Premier Cricket Infrastructure Fund
11. Provisions Current Provisions - Premier Cricket Infrastructure Fund Employee benefits
In 2018, $145,000 in total was paid to Premier Cricket Clubs (Dandenong, Prahran, Plenty Valley & Ringwood) from the Premier Cricket Infrastructure Fund for various infrastructure projects. ACCOUNTING POLICIES Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably. Employee Benefits A liability is recognised for benefits accruing to employees in respect of wages and salaries, annual leave and long service leave when it is probable that settlement will be required and they are capable of being measured reliably. Liabilities recognised in respect of employee benefits expected to be settled within 12 months are measured at their nominal values using the remuneration rate expected to apply at the time of settlement. Liabilities recognised in respect of employee benefits which are not expected to be settled within 12 months are measured as the present value of the estimated future cash outflows to be made by the Group in respect of services provided by employees up to the reporting date.
12. Other liabilities Income received in advance 13. Financing facilities The parent entity has an overdraft facility of $200,000 of which the unused portion at reporting date is $200,000. The company has provided bank guarantees to the value of $260,000 as part of the Victorian Cricket and Community Centre development at Junction Oval. These may be called upon on in the event that we breach our contractual obligations.
ANNUAL REPORT 2017-18 | 39
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 14. Reserves The asset revaluation reserve arises on the revaluation of the land and buildings. Where revalued land or buildings is sold, that portion of the asset revaluation reserve which relates to that asset, is realised, and is transferred directly to retained earnings.
Not longer than 1 year
Longer than 1 year and not longer than 5 years
Not longer than 1 year
Longer than 1 year and not longer than 5 years
Longer than 5 years
15. Commitments for operating expenditure Non-cancellable operating lease payments
Greater than 5 years
Operating lease payments are payments for lease of Junction Oval and office lease
Finance lease payments
ACCOUNTING POLICIES Leases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards incidental to ownership of the leased asset to the lessee. All other leases are classified as operating leases. Company as lessee Assets held under finance leases are initially recognised at their fair value or, if lower, at amounts equal to the present value of the minimum lease payments, each determined at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are charged directly against income, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Groupâ€™s general policy on borrowing costs. Contingent rentals are recognised as expenses in the periods in which they are incurred. Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Liabilities recognised in respect of employee benefits which are not expected to be settled within 12 months are measured as the present value of the estimated future cash outflows to be made by the Group in respect of services provided by employees up to the reporting date.
40 | CRICKET VICTORIA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2018 $
Cash on hand
Cash at bank
16. Cash and cash equivalents
ACCOUNTING POLICIES For the purposes of the statement of cash flows, cash and cash equivalents includes cash on hand and in banks and investments in money market instruments, net of outstanding bank overdrafts. Cash and cash equivalents at the end of the financial year as shown in the cash flow statement is reconciled to the related items in the statement of financial position. (b) Reconciliation of profit or (loss) for the year to net cash flows from operating activities Profit or (loss) for the year
(Gain)/loss on sale or disposal of non-current assets
Trade and other payables
Provisions for employee benefits
Income in advance
Net cash provided by operating activities
Depreciation expense Unrealised (gain)/loss on revaluation of managed funds Unrealised (gain)/loss on revaluation of investment properties Investment fees on managed funds Bad and doubtful debt expense / (recovered) Gifted assets (Junction Oval Stands)
Movement in working capital (Increase)/decrease in assets: Trade and other receivables Other assets Managed funds
Increase/(decrease) in liabilities:
Provisions - General
ANNUAL REPORT 2017-18 | 41
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 2018 $
17. Parent Entity
Profit of Parent Entity
Total Comprehensive Income of Parent Entity
Investment in subsidiaries Name Melbourne Stars Ltd
Melbourne Renegades Pty Ltd
18. Contingent liabilities Contribution to Player Payment Pool: The company, along with the other State Associations, is negotiating an arrangement with Cricket Australia (“CA”) whereby any Australian Cricket Revenue (“ACR”) earned by the company over and above an agreed Baseline figure during the five-year period to 30 June 2022 will attract a surcharge payable to the Player Payment Pool held by CA. The surcharge, if any, is likely to be at the rate of 26% (TBC) of the difference between Actual ACR and Baseline ACR over the five-year period to 30 June 2022. As at the date of this report due to the arrangement with CA not being finalised, it is not possible to estimate the liability, if any, which will be due to CA after 30 June 2022. Consequently, Any surcharge payable is likely to be due to CA after 30 June 2022.
19. Related party transactions Cricket Victoria entered into an agreement with The Bowlogist Pty Ltd, associated with Mr Damien Fleming, a previous director of the Melbourne Stars (resigned 14 May 2018), to supply Event Hosting under normal commercial terms & conditions. The amount paid for the year end 30 June 2018 was $6,000 (2017: Nil)
20. Economic dependency A significant amount of the Victorian Cricket Association’s revenue is received through contributions from Cricket Australia. Cricket Australia has contractually committed to a one year extension of the minimum guarantee funding agreement with Cricket Victoria, whilst the next 4 year agreement is finalised through 2018/19. Cricket Victoria does not anticipate that the future funding model will have an adverse impact on the Group.
21. Subsequent events There has not been any matter or circumstance occurring subsequent to the end of the financial year that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations, or the state of affairs of the company in future financial years.
Audit of the financial report
Other non audit services
22. Remuneration of auditors
The auditor of the Victorian Cricket Association is PricewaterhouseCoopers (2017: PricewaterhouseCoopers) 42 | CRICKET VICTORIA
Weâ€™re on top of things.
CitiPower, proud supporter of Cricket Victoria
CitiPower owns and operates a 157 square kilometre electricity distribution network. It provides electricity for approximately 330,000 customers in Melbourneâ€™s CBD and inner suburbs, including the CitiPower Centre.
Visit www.citipower.com.au to learn more. ANNUAL REPORT 2017-18 | 43
CitiPower Centre - Junction Oval Lakeside Drive, St Kilda VIC 3182 T: 03 9085 4000 | F: 03 9085 4001 W: cricketvictoria.com.au | E: firstname.lastname@example.org