ANNUAL REPORT 2021 2022
Enjoy better club canteens, from the people who power it. Since 2018, we’ve given away enough fridges to hold 3,000 bottles of water through our CitiPower and Cricket Victoria Canteen Grant. Applications for our next round of grants will open 10 October 2022. CRICKET VICTORIA 2
Cricket Victoria Board (as at 30 June 2022) Dr David Maddocks (Chair) Peter Williams Lydia SharynRossPenelopeMelissaShaunDowseRichardsonMcConnellCleghornHepburnMcNeill Cricket Victoria Patron Malcolm Gray AM OFFICE BEARERS Delegates 2021-22 Club Delegate Alternate Delegate Camberwell Magpies Brett Watkins Mark Dwyer Carlton Neville Box Mark Morris Casey-South Melbourne Ross Moore Shaun Petrie Dandenong Brendan McArdle Gary Davidson Essendon Simon Tobin Shane Eaton Fitzroy Doncaster Graeme Cook Shaun Pietersz Footscray Geoff Collinson Jack Sheppard Frankston Peninsula Cameron Wallace Cliff Wright Geelong Michael King Sarah Pike Greenvale Kangaroos Bruce Kent Ken Hutchinson Kingston-Hawthorn Brett Sebire Tom Brain Melbourne Andrew Kent Peter King Melbourne University Derek Bennett Peter Anderson Northcote Mark Sundberg Grant Gardiner Prahran John Raglus Nigel Parsons Richmond Peter Gigliotti Paul Gilchrist Ringwood Stuart Baum Tamara Bourke St Kilda Paul Meddings Paul Ryan VCCL Keith Thompson Kelvin White VMCU Mark Keating Rod Patterson VSDCA Geoff Richardson Dr Geoffrey Hart VSDCA Phil O’Meara Neil Burns Women’s Premier Cricket Panel Adam Di Giacomo ANNUAL REPORT 2021—22 3
It was again testament to the thousands of volunteers across Victorian cricket that we navigated each hurdle and kept cricket on the park. Our game means so much to so many people – never more so than in times of hardship and social disconnection.
I would like to thank everyone across the Victorian cricket community for their unwavering support and determination throughout the year.
In the Marsh Sheffield Shield, Victoria performed strongly in a reduced season to reach the final, but a draw saw Western Australia lift the Shield.
I would like to thank Cricket Australia and Cricket Victoria’s Government Relations staff who worked tirelessly for months on end to ensure cricket’s interests were well represented as we sought to deliver a season as close to normal as we could. I’d also like to extend our thanks to the Victorian Government, the Department of Health and Sport and Recreation Victoria for their advice and support for cricket’s challenges.
CHAIR REPORT
For the second consecutive year, the Weber WBBL season was played entirely outside Victoria and the BBL did not return to Melbourne until January 2022.
While we were unfortunately familiar with these challenges, they were no less onerous, and I commend all involved on their professionalism and dedication given the number of sacrifices made and length of time away from family and Fromhome.acricket performance perspective, while title success eluded our teams on the field this season, we were active in finals campaigns.
IT WAS TESTAMENTAGAINTO THE THOUSANDS OF VOLUNTEERS ACROSS VICTORIAN CRICKET THAT WE NAVIGATED EACH HURDLE AND KEPT CRICKET ON THE PARK
For the second consecutive reporting year, the global COVID-19 pandemic delivered a range of operational challenges for Victorian cricket across every level of our game. As I reflect on my second year as Chair, it is remarkable to think it was not until February 2022 that the majority of restrictions were eased in Victoria after an extraordinary and difficult 18 months for all of us.
CRICKET VICTORIA 4
DR DAVID MADDOCKS
The pandemic drove levels of disruption to a range of programs and our state players and support staff again began the season interstate.
In December, the Board appointed Sharyn McNeill as a Director. Ms McNeill is a chartered accountant and lawyer and I welcome her to the InBoard.June, Theresa Best resigned from the Board. I thank Theresa for her dedication and service to Victorian cricket.
Scott Boland earned his Test debut on Boxing Day at the MCG against England in front of his home fans and who could forget the extraordinary scenes that followed? He was a worthy and historic winner of the Johnny Mullagh Medal.
It was a fitting tribute to see the new Shane Warne Stand unveiled at the MCG and I can confirm Cricket Victoria will also rename one of our stands at the CitiPower Centre after Shane, at his beloved St Kilda Cricket Club.
I would also like to take this opportunity to thank and recognise Shaun Graf who finished as General Manager – Cricket Performance for Cricket Victoria after more than 30 years as a player, selector and administrator.
In August, the Board confirmed the appointment of Nick Cummins as the organisation’s new Chief Executive Officer, following several months acting in the interim role.
Cricket Victoria continues to receive wonderful support from its partners and I would like to acknowledge the Victorian Government and CitiPower’s major contributions.
I would like to record our sincere gratitude to the Premier, the Hon. Daniel Andrews MP; Minister for Major Events and Sport, the Hon. Martin Pakula MP; Minister for Health, Ambulance Services and Diversity, the Hon. Martin Foley MP and the Minister for Community Sport, the Hon. Ros Spence MP for their commitment to cricket.
Our strategic focus is on continuing to grow Woolworths Cricket Blast participation beyond pre-pandemic levels and on supporting Australian cricket’s focus on participation for 5-12 year olds.
From a grassroots perspective, the year saw positive news as we continue to drive a return to cricket participation during the pandemic.
I’d also like to thank CitiPower Chief Executive Tim Rourke and his team for his organisation’s fantastic support of cricket in Victoria.
From a strategic perspective, the Board’s focus is now on a period of stability and growth underpinned by our rebound from the pandemic. This includes developing new revenue streams and maximising the use of our assets, all while maintaining our focus on participation growth in community cricket, building successful highperformance teams, enhancing our commercial business portfolio, and delivering sustainable financial performance and venue management.
In the Weber WBBL, the Melbourne Renegades reached the WBBL Challenger final before being knocked out and Renegades batter and Indian captain Harmanpreet Kaur was named Player of the Series.
While the first half of the reporting year inhibited some of our ability to actively engage in the community and with schools, I am pleased to report Victoria has regained nearly 90% of its pre-pandemic participation position. This has been achieved through strong gains in participation for women and girls – up 12.8% on 2019-20 results. Registered participation in club cricket grew by 5.2% on the previous year.
Shaun made an immense contribution and donned the navy blue on and off the field with passion and energy.
In national honours, we congratulated three Victorian Test debutants.
On behalf of my fellow Directors, I welcome Shaun and Melissa’s election and thank Phillip and Jane for their service to Victoria cricket.
I thank my fellow Cricket Victoria Directors for their advice, dedication and support this season, to our Chief Executive Nick Cummins for his leadership and to our senior management and staff, players, members, clubs, and fans for their commitment and determination as Victoria continues to emerge from the pandemic.
DR DAVID MADDOCKS CHAIR, CRICKET VICTORIA
From a CV Board perspective, at the AGM in August, Shaun Richardson and Melissa McConnell were both elected as Directors for the first time, replacing Directors Phillip Hyde and Jane Nathan.
ANNUAL REPORT 2021—22 5
I would like to take this opportunity to thank all of Cricket Victoria’s members and affiliates, including our Premier clubs, the Victorian Metropolitan Cricket Union (VMCU), Victorian Country Cricket League (VCCL) and the Victorian Sub District Cricket Association (VSDCA) for their support and drive to see Victorian cricket thrive over two challenging years.
I would like to congratulate Bhavisha Devchand and Dean Russ from Ringwood Cricket Club and Footscray Cricket Club respectively on winning the Una Paisley and Jack Ryder medals.
I wish everyone a successful year ahead.
With extensive experience across Australian cricket, Nick is well-placed to drive the organisation towards future success and I congratulate Nick on his work so far.
In Kookaburra Premier Cricket, I congratulate and thank all clubs and players on delivering a successful season.
Annabel Sutherland and Georgia Wareham earned Test debuts against India on the Gold Coast in September in another fine achievement for both players and for our state women’s Theseprogram.selections and results are again a worthwhile reminder of the level of talent we currently have in Victoria and the quality of the next generation of players we are seeking to develop for the future.
It was with enormous sadness that in March we farewelled arguably Victoria’s greatest player, Shane Warne, after his tragic and untimely death. Shane will forever be remembered as an inspiration to not only us in Victorian cricket but to an entire generation of players and fans around the world.
Mr Richardson is a banking executive and Ms McConnell is managing director of her own business in the audit and compliance sector.
Just as we did in 2020, Victorian cricket responded with a familiar level of creativity and determination to see all our teams and clubs in action again. At an administrative level, our role was to provide support wherever we could and advocate cricket’s best interests to key decision Ultimately,makers.thehard work of putting the season back on track rested with our thousands of volunteers who devoted so much of their time to the good of the game in their local community.
CRICKET VICTORIA 6
NICK CUMMINS
CEO REPORT
I write this report following my first full year as Chief Executive – a year that has delivered challenges and opportunities for Victorian cricket in equal measure.
I congratulate Darrell Holt (Community Match Official of the Year), Wayne Schultz (Celebrating Cricket in Schools Award) and Box Hill Action Indoor Sports (Indoor Facility of the Year) on their Fromachievements.abroaderparticipation perspective, Victoria has made some strong gains over the 2021-22 year season.
It was therefore fitting that three Victorians were crowned winners at the National Community Cricket Awards.
There was a strong sense of déjà vu to the start of our season as we navigated hurdles including lockdowns, vaccination regulations and a range of public health measures.
Attracting and retaining children aged 5-12 to cricket is the number one participation priority at national and state level.
A YEAR THAT HAS DELIVERED CHALLENGES AND OPPORTUNITIES FOR VICTORIAN CRICKET IN EQUAL MEASURE
Data from the 2022 Census shows that overall, Victoria has recovered 89% of its registered pre-pandemic participation in 2019-20. Our work is certainly not done, but it is positive news after two difficult years. In some instances, our results have exceeded our 2019-20 position. Total participation of women and girls increased 12.8% on pre-pandemic figures while school competition participation increased by 6% on 2019-20. These great results are tempered by the fact that we have a declining number of new participants to the game and this trend needs to be reversed.
Cricket does not exist without volunteers, a fact brought sharply into focus over the past two years, and the game is lucky to have people committed to its success. We thank you for your collective effort, dedication and service to the game.
In a disrupted Marsh Sheffield Shield season, I congratulate Chris Rogers and Peter Handscomb on leading the men’s squad to the Shield Final at the WACA, despite a draw that delivered WA the title. Our men were well in the game until the final day and pushed the hosts throughout a gripping contest.
It was another productive year for our Kookaburra Premier Cricket competition and I congratulate all Premiers on their successful seasons. We continue to work closely with all our Premier Cricket stakeholders to ensure the competition is as strong as it can be, providing a pathway and opportunities for growth at all Ourlevels.infrastructure program continues to lead the agenda at the national level and we are delighted to be able to contribute, in partnership with Cricket Australia, the Australian Cricketers Association, the Victorian Government and local government authorities, to facilities of the future. Facilities underpin our participation plans and as we know, are often the difference between good and bad experiences. We also continue to work closely with a range of stakeholders statewide on new sites and multi-format or multipurpose outcomes which demonstrate cricket’s flexibility and forward-thinking approach to finding solutions to cater for teams now and in the future.
There were several other financial impacts throughout the year that had a marked impact on the results. These included a 7.5% reduction in funding from Cricket Australia and a large unrealised loss in our managed funds portfolio.
We are determined to avoid a ‘missed generation’ of potential cricketers who would have otherwise started their journey in the game during 2020 and 2021. Our work this coming year will make that a specific focus.
In closing, I’d like to thank our Chair, Dr David Maddocks together with all our Directors who have provided invaluable support and counsel during my first year in the role. To our senior management and staff, I thank you sincerely for your ongoing commitment to ensuring Cricket Victoria continues to provide the leadership, support and collaboration essential to our success.
In the Women’s National Cricket League (WNCL), Victoria finished in sixth place with a young squad led by Nicole Faltum while many of our senior players were on national duties.
NICK CUMMINS CEO, CRICKET VICTORIA
ANNUAL REPORT 2021—22 7
From a financial perspective, Cricket Victoria concluded the year reporting a $3.7m deficit for The2021-22.financial position and performance of the organisation was again affected by the COVID pandemic and can be seen in totality across FY21 and FY22.
In November, our men’s team played NSW for the inaugural Hodge-Matthews Cup. Named after Brad Hodge and Greg Matthews, the cup will be contested each time the two states meet in the Sheffield Shield.
Our major financial impacts included WBBL and BBL matches played in hubs or biosecure environments, a decline in BBL ticket sales due to restricted access during the pandemic and the conclusion of broader government financial support packages.
In our Cricket Performance division, I would again like to thank our players, coaches and support staff who made numerous sacrifices across the summer to make the season a reality.
I also congratulate James Pattinson who announced his retirement in October from international cricket. James represented Australia with distinction and was always a fan favourite with his endless energy for the contest.
In the Weber WBBL, the Melbourne Renegades reached the Challenger Final under the leadership of Simon Helmot and captain Sophie Molineux, while the Melbourne Stars finished fifth. In the KFC BBL, the Melbourne Stars finished sixth and the Melbourne Renegades eighth. While there were numerous factors to contend with, we do expect success from our elite teams and are working to return both teams to finals contention in the upcoming summer.
To ensure we continue to celebrate and connect our former players with cricket in the future, we launched our new Past Players Association during the reporting period.
It has been a challenging year financially. However, we expect to return to a cash positive position in FY23. In commercial news, both Big Bash clubs successfully extended their major commercial partnerships and I thank our Renegades major partners Liberty and Marathon and our Stars major partners Aussie Broadband and MG Motor for their commitment and belief in our plans for the future. I would again like to thank our major partners CitiPower, Kookaburra and Toyota for their ongoing support for Victorian cricket. Our strategic focus this season is on progress and outcomes. We are excited about the prospect of being able to achieve many things that have not been possible in the previous two years. We are deliberate and highly focused in our strategic objectives and appreciate the support of the cricket community in achieving those outcomes.
I’d like to thank Tony Dodemaide, Marcella Torre, Rob Quiney, Gail Schmidt and Damien Fleming who offered their time to support the development and future success of the program.
I congratulate Meg Lanning and her Australian squad on winning the ICC One-Day World Cup in New Zealand and a Commonwealth Games gold medal in Birmingham – more remarkable achievements by a team that must be considered one of the game’s greatest in its long history.
13 SEPTEMBER 1969 – 4 MARCH 2022 SHANE WARNE CRICKET VICTORIA 8
ANNUAL REPORT 2021—22 9
Henry Thornton, Cameron McClure and Fergus O’Neill all made their List A debuts.
Maddinson continued his run of good form since moving to Victoria, scoring 545 runs at an average of 54.50 in the Sheffield Shield, including two Faltumcenturies.took on the captaincy for the first time and was also Victoria’s leading run scorer with 189 runs at 31.50
VICTORIAN STATE TEAMS VIEW & DOWNLOAD PDFS CRICKET VICTORIA 10
only win for the campaign came in Canberra against Queensland, thanks to 65 from Makinley Blows and five wickets from Samantha TheBates.move to Victoria from Tasmania for Bates was a positive one, becoming the WNCL’s leading wicket taker for the season with 16 at an average of 16.81.
The WNCL campaign began in December as Ellyse Perry captained Victoria for the first time and stepped up with 120 runs in the second Victoria’smatch.
Victoria’s domestic season culminated with an appearance in the Marsh Sheffield Shield Final at the WACA, where Western Australia broke a 23-year Sheffield Shield drought.
The Victorian men began their Marsh One-Day Cup competition in November and recorded one win and four losses as the side offered new opportunities to emerging players.
The Victorian Men’s and Women’s teams entered the new season with high hopes after a pandemic interrupted previous season.
Top order batter Travis Dean started the season out of the team but finished as the Marsh Sheffield Shield joint Player of the Year with 423 runs including two hundreds. Scott Boland’s heroics weren’t just limited to the Australian Test side, finishing the Sheffield Shield season with 26 wickets from five matches at an average of just 17.07 per wicket. A win against Tasmania at the CitiPower Centre after a tense finish locked in Victoria’s place in the Sheffield Shield Final. The Final ended in draw, which was enough for Western Australia after finishing on top of the ladder. Brody Couch, Xavier Crone and Cameron McClure all made their First Class debuts during the course of the season.
Captain Peter Handscomb finished the season as the competitions highest run scorer with 697 runs at an average of 49.68 and broke fielding records taking 27 catches in the season (the most ever), 12 ahead of second place. Handscomb also broke the record for most ever catches in a Sheffield Shield match for a fielder with nine for the match.
Fast bowler Henry Thornton was awarded the Dean Jones Medal as the state’s best player during the Marsh One-Day Cup. Thornton finished the tournament with five wickets in four matches.
In the absence of Victoria’s Australian representatives, Nicole Faltum was named captain for the remaining six matches of the Fourseason.players debuted for Victoria during the WNCL season and we congratulate Samantha Bates, Rhys McKenna, Sophie Reid and Tiana Atkinson on earning their caps.
2021-22 SEASON VICTORIAN CRICKET TEAM MALE BOWLING AVERAGES VICTORIAN CRICKET TEAM FEMALE BATTING AVERAGES VICTORIAN CRICKET TEAM FEMALE BOWLING AVERAGES VICTORIAN CRICKET TEAM MALE BATTING AVERAGES
The Sheffield Shield side started their campaign with three consecutive matches against New South Wales due to national border restrictions. Victoria took the points in two matches while the third match finished in a draw at the SCG thanks to a Travis Dean century in the first innings.
Nic Maddinson (Bill Lawry Medal) and Nicole Faltum (Sharon Tredrea Medal) took out the top Victorian Cricket Awards for the 2021-22 season.
ANNUAL REPORT 2021—22 11
The Renegades were often competitive without being on the right side of results – and battled with injuries, player availability and COVID impacts. The team finished eighth on the ladder with three wins.
2021-22 SEASON CRICKET VICTORIA 12
The Melbourne Renegades would like to extend their thanks to Liberty (BBL and WBBL Principal Partner), Marathon (BBL Major Partner) and RACV Solar (WBBL Major Partner) and all their partners for their incredible support.
Indian captain Harmanpreet Kaur won the WBBL Player of the Tournament award, after an influential season with bat and ball. Unfortunately, the Renegades season ended in The Challenger against the Strikers, but the platform was laid for future success. In the BBL, there was also a new leadership team – with David Saker appointed Head Coach, replacing Michael Klinger. Nic Maddinson replaced Aaron Finch as captain, following Aaron’s decision to step down after nine seasons as Returningskipper.as an international signing was
The Champions League tournament returned after a year’s hiatus for the same reason, won by Sri Lanka and celebrating the thriving multicultural cricket community in Victoria.
The team finished the regular season in second place, with eight wins. This included a first-up victory against the Hobart Hurricanes and several more highlights including the team’s highest-ever score – 4-207 against the Brisbane Heat –and a thrilling final-over run chase against the Adelaide Strikers.
MELBOURNE RENEGADES REVIEW
The season started with a nail-biting win against the Adelaide Strikers at Marvel Stadium – and Jake Fraser-McGurk’s incredible catch.
The strength of the Renegades in the community space, combined with high membership and other advancements like a large and growing social media audience, has made its commercial assets valuable.
Under the leadership of new coach Simon Helmot and new captain Sophie Molineux, the WBBL team returned to finals – despite not playing in Victoria for a second consecutive season. Indian duo Harmanpreet Kaur and Jemimah Rodrigues, plus England’s Eve Jones, joined as international signings.
Afghanistan’s Mohammad Nabi, alongside countryman Zahir Khan, England’s Reece Topley and former India U19 captain Unmukt Chand.
Australian T20 World Cup winners Aaron Finch (386 runs) and Kane Richardson (19 wickets) were the team’s most consistent performers. In the community, the Renegades continued to make an impact.
The Melbourne Renegades set out to improve their on-field performances throughout the Weber WBBL|07 and KFC BBL|11 campaigns.
The Renegades School Holiday Program, Junior Academy and Super Clinics all successfully drove hundreds of kids into participation and interaction with the Renegades.
Renegades Roadshow was conducted virtually during the pandemic, as players dialled into classrooms across the Renegades’ regional heartland.
Community cricketers also connected to the club through its first Renegades Recruit program –a reality TV series designed to unearth a local star, which was won by North Geelong’s Tom Mathieson.
IN THE COMMUNITY, THE RENEGADES CONTINUED TO MAKE AN IMPACT ANNUAL REPORT 2021—22 13
For the second consecutive year, the Melbourne Stars had to navigate the challenges of COVID-19 affected seasons in both the BBL and WBBL.
The WBBL playing group and coaching staff were based in Tasmania and South Australia for the entirety of the tournament.
BBL|11 saw the return of Pakistan international and fan favourite Haris Rauf, along with the marquee signing of West Indian Andre Russell. Russell’s signature provided a huge boost for the Stars in being able to attract a global superstar of T20 cricket to the club and help grow the fan base throughout Victoria, Australia and worldwide. After a promising start, the club’s finals aspirations were highly impacted when 18 members of the playing group and staff were impacted and forced into isolation.
The club’s community engagement was severely limited due to the pandemic, however we were still able to deliver a virtual state blitz where members of both the BBL and WBBL teams connected with fans at home. Despite the challenges of COVID-19 restrictions, the Stars were still able to deliver three school holiday camps throughout the year, including a super clinic at the MCG.
Despite falling just short of a finals berth, Glenn Maxwell’s performance in the final match of the season will be remembered for some time, making 154*, the highest individual score in BBL history. The club also broke the all-time record making 2/273 against the Hurricanes.
After a successful first season, Stars TV again took fans behind the scenes in the hub for WBBL and on the road with the BBL. Over a million people tuned in across the season on Facebook and the club expanded its relationship with Kayo Sports to have Stars TV broadcast on the subscription platform.
The club’s administrative and coaching staff worked tirelessly to ensure the club could field a team and allow the tournament to continue on schedule.
Internationals Kim Garth, Maia Bouchier, and Linsey Smith joined the club for Weber WBBL|07, under the direction of head coach Jarryd AfterLoughman.beginning with two losses, the WBBL side fought hard throughout the season but ultimately fell just short of making finals, finishing 5th with five wins from 14 games, including two washouts.
Inaugural Women’s Hundred-winning coach Jonathan Batty was announced as the head coach for WBBL|08. Blair Crouch was appointed as General Manager in September after having served as Interim General Manager since May 2021. The Melbourne Stars would like the thank the ongoing support of our incredible sponsors through a difficult time: Aussie Broadband, MG Motor, Belling, Yale, Ritchie Bros, Dimplex, Colonial Brewing, Manhari Metals, Victorian Responsible Gambling Foundation, Art Series Hotels, Turkey Flat Vineyards and Kookaburra.
Kim Garth, who will play as a local player in WBBL|08, was named as Player of the Season after some standout performances with both bat and ball, including career best figures of 3-11 against the Sydney Thunder.
2021-22 SEASON MELBOURNE STARS REVIEW CRICKET VICTORIA 14
GLENN MAXWELL’S PERFORMANCE IN THE FINAL MATCH OF THE SEASON WILL BE REMEMBERED FOR SOME TIME, MAKING 154*, THE HIGHEST INDIVIDUAL SCORE IN BBL HISTORY ANNUAL REPORT 2021—22 15
The Men’s First XI Grand Final was played for the first time since the 2003/04 decider at the Albert Ground, with Carlton and Casey-South Melbourne competing for the title. The Swans were sent in by Carlton Captain/Coach Evan Gulbis and notched up a competitive 9/200 off 49 overs. Luke Manders fought hard for 63, whilst Gulbis (3/35) and Eddy O’Sullivan (3/32) did the damage. In reply, the Blues were made to work for the win, collapsing to 4/66 with Jackson Fry (4/28) doing the early damage but partnerships involving the John Scholes Medalist Thomas Smyth (52* & 1/44) were worth 44 for the 5th wicket with Brayden Stepien (51), 75 for the 6th wicket with injured teammate Connor Rutland (45 batting with a dislocated shoulder) and an unbeaten 30-run 7th wicket stand with injured quick Xavier Crone (18* with a side strain) saw the Blues chase their DLS target of 203 with 13 balls remaining. Season 2021/22 saw a return to the Vic SUPER SLAM tournament with a new look. The 18 teams were split into 3 pools of 6 teams with the highest placed team in each pool plus a ‘best 2nd placed team’ making the Final 4.
The 2021/22 Kookaburra Victorian Premier Cricket season saw a delayed start due to COVID-19 lockdowns. The season eventually began with Round 2 in November following an abandoned opening round due to weather. 16 One Day games were fixtured for the Men’s XIs, 14 One Day games were played by the Women’s 1st XIs, whilst the Women’s 2nd & 3rd XIs played 16 matches (10 x One Day and 6 x T20s) due to the inclusion of Geelong to the Women’s Premier Cricket ranks for the first time.
The Final of the Vic SUPER SLAM saw Carlton take on St Kilda at the Albert Ground in January, with Carlton taking home their second Vic SUPER SLAM title with an 11-run victory. St Kilda’s Michael De Iacovo batted well for 70 (62 balls) but lacked support as Thomas Smyth (3/14 off 4 overs) and Evan Gulbis (45 off 31 & 1/16 off 2) led the Blues to another title.
The Jack Ryder Medal saw another tight vote count, with Footscray veteran Dean Russ a surprise winner of the award with 30 votes, winning by two votes ahead of Geelong allrounder Hayden Butterworth and Carlton batsman Harrison Smyth.
The Men’s Lower XI titles were won by St Kilda (Seconds), Melbourne (Thirds) and Frankston Peninsula (Fourths).
In the Women’s Premier Thirds competition, Geelong hosted Melbourne at the Geelong Cricket Ground. Unfortunately for the Cats in their maiden season, there was not to be any silverware with the Demons upsetting them by 23 runs on DLS. To manage pandemic impacts, no T20 matches were fixtured in the Women’s 1st XI competition this Thisseason.season saw a return of the Dowling Shield Competition under the control of the Premier Clubs, with five One-Day rounds, Semi Finals and Grand Final played, with a similar structure as Vic SUPER SLAM in terms of pools and who qualified for the Finals. In the Grand Final held in March, the undefeated Footscray played Ringwood at Windy Hill. After an exciting contest, Ringwood came out the victors by 18 runs, despite 115 from Dogs’ skipper Mitchell Jamieson. Rams quick Isaac Macklin won the Player of the Final medal for 5/47 off 8 overs and a timely 26 off 22 balls to get the Rams run rate climbing late in their Alsoinnings.implemented this season was the Marg Jennings Cup for the Female Under 18 Competition (replacing the YPL under 17 competition), with four rounds of One-Day games fixtured before the top two sides played for the title. The Grand Final saw the two undefeated teams in Melbourne and Dandenong play off, with the Demons taking the title by 4 wickets, chasing 175 for the first title. Notable retirees this season from Premier Cricket ranks included Ringwood due Joseph Loorham and Brendan Walsh, former Richmond, Camberwell Magpies, Victorian and Tasmanian quick Andrew Fekete, former EMP and Victorian duo Briana Binch and Natalie Schilov and umpire John Walker.
St Kilda won this season’s Men’s Club Championship, taking out their first title in this award since 2013/14 with their 1sts, 2nds and 3rds all making the Finals. Melbourne again took out the Women’s Club Championship title in a dominant display which saw them win everything placed before them this season.
In the Women’s Premier Firsts One Day competition, the Grand Final at the Albert Ground saw Melbourne take on first time finalists in Carlton. The Blues batted first and scored 135 with former Sri Lankan international Nipuni Hansika (42) the only bat to pass 20. In reply, the Demons made it look easy at times with Steph Townsend (41) leading the charge and finished with a 6-wicket win, securing the title and the ‘clean sweep’ across the competition, having taken out titles in the Marg Jennings Cup (Under 18 Female Competition), Women’s 2nd XI and Women’s 3rd XI titles in season 2021/22. Hayleigh Brennan (Melbourne) won her second Betty Wilson Medal for Player of the Final for an all-round performance of 32* & 3/17 off 9 overs (having won the medal previously with Box Hill in 2017/18 against EMP).
The Una Paisley Medal count saw the medal return to the Russell Lucas Oval, with Rams skipper Bhavi Devchand adorning a second Una around her neck in 3 seasons, winning with 33 votes to collect Una by six votes over Carlton offseason signing Sophie Reid, with Box Hill skipper Zoe Griffiths another vote behind in third.
2021-22 SEASON PREMIER CRICKET REVIEW CRICKET VICTORIA 16
Both Spirit of Cricket Awards were won for the 2021/22 season by Ringwood, with the Rams defeating Carlton for the Men’s award, whilst Essendon Maribyrnong Park and Melbourne tied for second place in the Women’s.
In the Women’s Premier Seconds One Day competition, Melbourne defeated Box Hill at Beaumaris Secondary College – North Oval, with the Demons completing a 7-wicket win. The Demons dominated from ball one and if it wasn’t for a batting fightback by the Mustangs from 7/41 to 113 all out batting first, the party would have started earlier for the Demons.
MEN’S PREMIER CRICKET BATTING LADDERSWOMEN’SLADDERSMEN’SBOWLINGWOMEN’SBOWLINGMEN’SBATTINGWOMEN’SAVERAGESPREMIERCRICKETAVERAGESPREMIERCRICKETAVERAGESPREMIERCRICKETAVERAGESPREMIERCRICKETPREMIERCRICKET VIEW & DOWNLOAD PDFS ANNUAL REPORT 2021—22 17
Dean Russ (Footscray) Zoe Griffiths (Box Hill)
Ruwantha
Fergus O’Neill (Melbourne) Ella Hayward (Melbourne) Kellepotha (Casey-South Melbourne) Holly Spencer (Box Hill)
Jack Harper (Melbourne) (WK) Una Raymond-Hoey (Ringwood) Adam Crosthwaite (St Kilda) (Capt.) Kim Garth (Dandenong) Jack Lalor (Northcote) Cailin Green (Carlton)
WOMEN’S PREMIER TEAM OF THE YEAR
Thomas Rogers (Ringwood) Bhavi Devchand (Ringwood) (Capt.)
MEN’S PREMIER TEAM OF THE YEAR
Dominic Matarazzo (Richmond) Hasrat Gill (Melbourne) Michael Topp (Northcote) Samantha Bates (Essendon Maribyrnong Park) Liam Bowe (Essendon) Madison Albers (Carlton)
Hayden Butterworth (Geelong) Sophie Reid (Carlton) (WK) Harrison Smyth (Carlton) Amy Vine (Melbourne)
Cricket Victoria again hosted our Community Cricket Awards to celebrate contributions which grow the game at all levels through schools, clubs and by highlighting exceptional service to key areas of participation.
The National Cricket Inclusion Championships and Australian Country Cricket Championships were both cancelled for a second year in a row due to the pandemic. To deliver playing opportunities, Cricket Victoria hosted a fantastic weekend of cricket at the CitiPower Centre and at Casey Fields in late March, where the state Men’s and Women’s Deaf teams and Intellectually Disabled (ID) teams were all involved in training and playing opportunities.
Cricket Victoria congratulates all winners on their wonderful contribution to the success of Victorian cricket. We congratulate Steve LeFebvre from Melbourne All Abilities Cricket Association who was named Volunteer of the Year.
Cricket Victoria continues to prioritise creating a safe and strong club environment for children entering our sport, through developing additional support resources for clubs to adopt and implement Child Safety Standards. Victorian cricket had had 74% of clubs accredited through Steps 1, 2 and 3 in 2021/22, with an aim of increasing this critical area of compliance and safety to 90% next season.
Cricket Victoria began the process of a new datafocused approach to how we service our cricket community through implementing Salesforce to help monitor, and ensure we prioritise, our Field Force activity towards schools, clubs and associations that align with our Cricket Victoria strategy of growing the game.
Cricket Victoria further strengthened its relationship with the broader cricket community through granting Affiliate membership status to Veterans Cricket Victoria Incorporated (VCV) and Indoor Sports Victoria Incorporated (ISV). We extend our thanks to all Clubs and Associations for their tireless support, in particular Mark Keating (VMCU), Kelvin White (VCCL) and Phil O’Meara (VSDCA) for their support and collaboration in another difficult year for community cricket. We appreciate their proactive approach to supporting their clubs and associations, and value the role these key affiliates play in helping cricket bounce back beyond the pandemic.
Cricket Victoria continues to be a national leader in women and girls participation, with the state exceeding its participation numbers recorded prior to the pandemic. Participation in women and girls has increased by 12.8% on pre COVID Woolworthsnumbers.Cricket Blast and entry-level programs were again the most significantly impacted area of Community Cricket, as the majority of Woolworths Cricket Blast registrations occur in spring and into summer when the state was still impacted by lockdowns. As a result, Woolworths Cricket Blast participation remains 11% down on our prepandemic numbers. To approach this challenge, Cricket Victoria has built its strategy for 2022-23 with a specific focus on recruiting and retaining 5-12 year olds, with a target of increasing our current Woolworths Cricket Blast participation numbers by 12% on our 2021/22 numbers.
It was a sense of deja-vu for Community Cricket, with Victoria’s sixth lockdown running through until late October. For a second year, the pandemic impacted the start of the season. This impact was felt significantly by clubs and associations who struggled to get momentum to re-activate their competitions and Woolworths Cricket Blast centres until late in the year. It also hindered Cricket Victoria’s ability to deliver a range of in-person programs across the state. As was the case last season, the Community Cricket staff worked closely with the State Government to to deliver up to date pandemic information and advice around health protocols to the cricket community. Our COVID-19 Online Hub was again heavily utilised by clubs and associations across the Despitestate.. these challenges, Cricket Victoria’s national participation census results delivered some positive news on the health of our game in the state. Registered participation in club cricket grew by 5.2 % on the previous year to 120, 617, meaning Victorian cricket participation numbers have bounced back well from two years of COVID disruption, sitting at 89% of our registered participation from pre COVID.
COMMUNITY CRICKET REVIEW 2021-22 SEASON CRICKET VICTORIA 18
ANNUAL REPORT 2021—22 19
25 $1.35m AUSTRALIAN CRICKET INVESTMENT IN GRASSROOTS FACILITIES 65 TOTAL NUMBER OF PROJECTS $23.4 COMMUNITY INVESTMENTCRICKETINVICTORIA 31 TRAINING ANDDEVELOPMENTSNETUPGRADESGROUNDREDEVELOPMENTS AUSTRALIAN CRICKETINFRASTRUCTURECRICKETFUNDVICTORIA 20
1 LEARN MORE $23.4 million CRICKET REDEVELOPMENTSGROUNDVICTORIAINFRASTRUCTUREANDPITCH 9 PAVILION, INCLUSIVE CHANGE ROOMS & OTHER IMPROVEMENTSFACILITYCRICKETVICTORIA.COM.AU/GRANTS ANNUAL REPORT 2021—22 21
COMMUNITY MATCH OFFICIAL OF THE YEAR: Darrell Holt INDOOR FACILITY OF THE YEAR: Box Hill Action Indoor Sports TECHNOLOGY AND MEDIA INITIATIVE OF THE YEAR: Devon Meadows Cricket Club COMMUNITY PARTNERSHIP OF THE YEAR: Traralgon West & Jeeralang Boolara Cricket Club WOMEN AND GIRLS INITIATIVE OF THE YEAR: Sarah Pike (Geelong Cricket Club) INCLUSION AND DIVERSITY INITIATIVE OF THE YEAR: Burwood Cricket Club CELEBRATING CRICKET IN SCHOOLS: Wayne Schultz (Roxburgh Park Primary School) 2021-22 SEASON YOUNG LEADER OF THE YEAR: Ellie Campbell (Burwood Cricket Club) JUNIOR CRICKET INITIATIVE OF THE YEAR: Wallington Cricket Club COMMUNITY COACH OF THE YEAR: Steve McElligott PREMIER CLUB OF THE YEAR: Ringwood Cricket Club COMMUNITY CRICKET ASSOCIATION OF THE YEAR: Colac and District Cricket Association COMMUNITY CRICKET CLUB OF THE YEAR: Hoddles Creek Cricket Club VOLUNTEER OF THE YEAR: Steve LeFebvre (Melbourne All Abilities Cricket Association) COMMUNITY CRICKET AWARDS RECIPIENTS CRICKET VICTORIA 22
ANNUAL REPORT 2021—22 23
BILL LAWRY MEDAL Nic Maddinson SHARON TREDREA AWARD Nicole Faltum DEAN JONES MEDAL Henry Thornton JOHN SCHOLES AWARD Nic Maddinson LORD TAVERNERS INDIGENOUS CRICKETER OF THE YEAR Scott Boland PLAYER’S PLAYER AWARD Kim Garth LORD TAVERNERS INDIGENOUS CRICKETER OF THE YEAR Scott Boland SHEFFIELD SHIELD PLAYER OF THE YEAR Travis Dean WNCL SPIRIT OF CRICKET AWARD Victoria MELBOURNE STARS PLAYERS OF THE SEASON BBL: Joe Clarke WBBL: Kim Garth MELBOURNE RENEGADES PLAYERS OF THE SEASON BBL: Kane Richardson WBBL: Harmanpreet Kaur 2021-22 STATE AND BIG BASH AWARD WINNERS VICTORIAN CRICKET & PREMIER AWARD WINNERS CRICKET VICTORIA 24
JACK RYDER MEDAL Dean Russ (Footscray) UNA PAISLEY MEDAL Bhavi Devchand (Ringwood) AARON FINCH MEDAL (VIC SUPER SLAM PLAYER OF THE SEASON) James Nanopoulos (Frankston Peninsula) MEN’S TEAM OF THE SEASON Adam Crosthwaite (St Kilda) (Capt.) Thomas Rogers (Ringwood) Hayden Butterworth (Geelong) Harrison Smyth (Carlton) Jack Harper (Melbourne) (WK) Jack Lalor (Northcote) Dean Russ (Footscray) Fergus O’Neill (Melbourne) Ruwantha Kellepotha (Casey-South Melbourne) Dominic Matarazzo (Richmond) Michael Topp (Northcote) Liam Bowe (Essendon) WOMEN’S TEAM OF THE SEASON Bhavi Devchand (Ringwood) (Capt.) Sophie Reid (Carlton) (WK) Amy Vine (Melbourne) Una Raymond-Hoey (Ringwood) Kim Garth (Dandenong) Cailin Green (Carlton) Zoe Griffiths (Box Hill) Ella Hayward (Melbourne) Holly Spencer (Box Hill) Hasrat Gill (Melbourne) Samantha Bates (Essendon Maribyrnong Park) Madison Albers (Carlton) 2021-22 KOOKABURRA PREMIER CRICKET AWARDS WINNERS MEN’S PLAYERS OF THE SEASON 2nd XI – Ryan Aikman (Geelong) 3rd XI – Kyle Parrott (Melbourne) 4th XI – James Rosham (Melbourne) SUE WOOLCOCK AWARD (WOMEN’S PREMIER SECOND XI ONE DAY PLAYER OF THE SEASON) Tegan Rule (Ringwood) WOMEN’S PREMIER THIRDS ONE DAY PLAYER OF THE SEASON Montana Phillips (Dandenong) WOMEN’S PREMIER FIRSTS T20 PLAYER OF THE SEASON NOT AWARDED DUE TO COVID WOMEN’S PREMIER SECONDS T20 PLAYER OF THE SEASON NOT AWARDED DUE TO COVID JUNE COLE AWARD (BEST FIRST YEAR WOMEN’S PREMIER FIRSTS PLAYER) Zoe Samuel (Melbourne) SPIRIT OF CRICKET AWARD Men’s – Ringwood Cricket Club Women’s – Ringwood Cricket Club CLUB CHAMPIONSHIP Men’s – St Kilda Cricket Club Women’s – Melbourne Cricket Club UMPIRE RECOGNITION AWARD Greg Azzopardi ANNUAL REPORT 2021—22 25
OUR PARTNERS CRICKET VICTORIA 26
ANNUAL REPORT 2021—22 27
ABN 28 004 128 812 42414039383635343029 CORPORATE DIRECTORY DIRECTORS’ REPORT AUDITOR’S INDEPENDENCE DECLARATION DIRECTORS’ INDEPENDENTDECLARATIONAUDITOR’SREPORT TO THE MEMBERS FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME CONSOLIDATED STATEMENT OF FINANCIAL POSITION CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONSOLIDATED STATEMENT OF CASH FLOWS NOTES TO THE FINANCIAL STATEMENTS FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2022 VICTORIAN CRICKETASSOCIATIONCRICKETVICTORIA 28
DIRECTORS David Maddocks Peter Williams Lydia ShaunDowseRichardson(appointed30August2021)MelissaMcConnell(appointed30August2021)PenelopeCleghornRossHepburnSharynMcNeill(appointed18November2021)TheresaBest(ceased22June2022)PhillipHyde(ceased30August2021)JaneNathan(ceased30August2021) CHIEF EXECUTIVE OFFICER Nicholas Cummins SECRETARY Michael Bullock PRINCIPAL REGISTERED OFFICE CitiPower Centre Lakeside Drive St Kilda VIC 3182 EXTERNAL AUDITOR Southbank2PricewaterhouseCoopersRiversideQuayVIC3006 INTERNAL AUDITOR TowerBDO Four Level 18 727 Collins Street Melbourne 3008 LEGAL ADVISORS Lander & Rogers Level 15 477 Collins Street Melbourne VIC 3000 BANKERS Commonwealth Bank Level 20, Tower 1 Collins Square 727 Collins Street Docklands VIC 3008 INVESTMENT ADVISORS JB LevelWere42, Governor Phillip Tower 1 Farrer Place Sydney NSW 2000 WEBSITE cricketvictoria.com.au CORPORATE DIRECTORY ANNUAL REPORT 2021—22 29
follows:
Corporations
Penelope Cleghorn Deputy Principal 2 years Community Cricket Committee, Premier Cricket Committee, Director Melbourne Stars Sharyn 2021)(appointedMcNeill18November
provisions
Theresa Best (ceased 22 June 2022) Marketing Director 4 years Chair Marketing & Communications Committee, Community Cricket Committee, Director Melbourne Stars, Director Melbourne Renegades
general
David Maddocks
SECRETARY
directors report
Shaun (appointedRichardson30August
2021) Business Banking Executive 1 year Finance Audit & Risk Committee, Community Cricket Committee, Communications & Stakeholders Committee, Premier Cricket Committee
Name Occupation B oard Tenure Special Responsibilities
2021) Managing Director 1 year Finance Audit & Risk Committee, Premier Cricket Committee
Philip (ceasedHyde30August
Non Executive Director 5 years Chair Finance Audit & Risk Committee, Community Cricket Committee, Premier Cricket Committee, Director Melbourne Stars, Director Melbourne Renegades
Peter Williams
Head of Integrity & Risk 3 years High Performance Committee, Finance Audit & Risk Committee, Director Melbourne Stars, Director Melbourne Renegades
Non Executive Director 1 year Finance Audit & Risk Committee, Community Cricket Committee, Director Melbourne Stars, Director Melbourne Renegades
2021) Director 3 years Community Cricket Committee, Finance & Investment Committee, Communications & Stakeholders Committee
Lydia Dowse
The names and particulars of the directors of the company during or since the end of the financial year are:
DIRECTORS’ REPORT CRICKET VICTORIA 30
Jane (ceasedNathan30August
The directors of the Victorian Cricket Association and controlled entities (“the Group”) submit herewith the purpose reduced disclosure financial report of the Group for the financial year ended 30 June 2022. with the of the Act 2001, the as
Lawyer 8 years Chair Cricket Victoria Board, High Performance Committee, Director Melbourne Stars, Director Melbourne Renegades
Melissa (appointedMcConnell30August
DIRECTORS AND COMPANY
In order to comply
Former Senior Executive 2 years Chair Community Cricket Committee, Marketing & Communications Committee, Director Melbourne Renegades
2021) Senior Executive 4 years Chair Audit & Risk Committee, Chair High Performance Committee, Finance & Investment Committee, Marketing & Communications Committee, Director Melbourne Stars, Director Melbourne Renegades
Ross Hepburn
There were no significant changes in the nature of the Group’s activities during the year.
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 2022, no dividends were declared or paid (2021: $Nil). The company is a public company limited by guarantee, is a not for profit and is therefore precluded from paying dividends.
Thedirector.elected directors may appoint a maximum of three appointed directors for a term of up to three years. Appointed directors are eligible for further appointment following expiry of their term. No appointed director who has served for a total of 3 consecutive terms shall be eligible for re-election for at least 3 years following the date of conclusion as a director.
FINANCIAL HEADLINES
SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS
STATUTORY INFORMATION
PRINCIPAL ACTIVITIES
Net cash outflows from operating activities were $(2,315,306). The Group balance sheet continues to remain in a strong position despite the challenges encountered throughout the COVID-19 pandemic.
Activities during the financial year returned a loss for the Group (Cricket Victoria including Melbourne Stars and Melbourne Renegades) of $3,677,609 (2021 surplus $4,866,065). Activities during the financial year returned a loss for the company (Cricket Victoria excluding Melbourne Stars and Melbourne Renegades) of $107,123 (2021 surplus $6,058,644).
The impact of COVID-19 continued to be felt through the 2022 financial year. WBBL matches commenced in a hub in Tasmania, with the latter matches moving to SA, WA and Qld. No WBBL matches were played in Victoria for the second consecutive season. The BBL season commenced under normal operations, but as COVID-19 continued to impact the season, the competition culminated under a hub within Victoria.
The Group’s operating revenue was $41,106,555, representing an increase of $3,013,096 versus the prior year. The movement in revenues versus prior year can be attributed to an increase in BBL revenues across sponsorship, ticketing, and memberships as the teams regained momentum following the impacts of COVID-19 last year. Funding received from Cricket Australia increased versus prior year but was again below the contractual obligations between CA and CV. Government assistance was significantly lower as a result of the culmination of a number of COVID-19 initiatives in place last year. Managed funds were impacted by the volatility on world markets in the second half of the year with an unrealised loss of $(1,224,060) reported in this year versus an unrealised gain of $2,148,983 last year. Costs incurred through the BBL cost sharing model were $470,551 in comparison to last year’s revenue of $1,084,690.
ENVIRONMENTAL REGULATION
CORONAVIRUS (COVID-19) IMPACT
In the opinion of the Directors, other than as set out in this report, there were no significant changes in the state of affairs of the Group that occurred during the financial year under review.
The directors of the Victorian Cricket Association consist of six elected directors and 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. No elected director who has served for a total of 3 consecutive terms shall be eligible for re-election (except in extenuating circumstances) until the third Annual General Meeting following the date of conclusion as a
ANNUAL REPORT 2021—22 31
A national approach between the eight BBL teams and Cricket Australia was implemented for both the WBBL and BBL seasons whereby the net match returns for both competitions including finals were shared equally amongst the clubs and the impact to Cricket Victoria is disclosed in the financial statements accordingly.
The principal activities of the Group (Cricket Victoria and controlled entities) during the financial year were the ongoing promotion, management and control of cricket in the State of Victoria. Cricket Victoria delivers a range of activities including community cricket programs, coaching, talent identification and development, staging of State and Big Bash matches, and provides valuable resources for the ongoing growth and promotion of the game of cricket throughout Victoria. The objective of the Group is to be Australia’s leading cricket state, supporting and growing grassroots cricket throughout Victoria, delivering the finest cricket performance program for elite men’s and women’s cricket and growing our fan base through the Big Bash.
EVENTS SINCE THE END OF THE FINANCIAL YEAR
BOARD STRUCTURE
The Group’s consolidated financial statements and accompanying notes have been presented for the financial year ended 30 June 2022 and appear on pages 38 to 53.
The Group’s closing cash position decreased by $2,834,572 compared to the prior year and at 30 June, the Group finished the year with a cash balance of $4,681,086.
The directors are aware that funding from Cricket Australia will not return to 100% of the contractual obligations between CA and CV in the 2023 Financial Year. There remains a risk that revenues for the 2022/23 season may be impacted by the ongoing COVID-19 residual effects and as such may impact the financial performance of Cricket Victoria.
v) Premier Cricket Committee - to support the development & delivery of Premier Cricket Competitions, review of the Premier Cricket strategy development and implementation.
RECOGNISING AND MANAGING RISK
The company has paid an insurance premium in respect of an insurance contract that covers 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). M = Number of meetings Director could have attended, A = Number of meetings attended.
i) Finance Audit & Risk Committee - oversees financial reporting, risk management and internal controls, and external audit, and IT governance, strategy, planning,
iii) Community Cricket Committee - to support the development (and monitoring) of the Cricket Victoria participation and community cricket strategy.
The Finance 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.
investment
insurance, WHS
vi) Nominations Committee - to review and make recommendations to the Board on the composition, diversity, size, and commitment of the Board.
ii) High Performance Committee - oversees the national and state high-performance pathway for both male and female players, from entry level to elite competition incorporating Premier Cricket.
internal
The Board is responsible for ensuring the adequacy of the Victorian Cricket Association’s risk management and is assisted in doing this by the Finance 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.
strategic
capital expenditure, annual budgets and monthly financial performance.
INSURANCE OF OFFICERS AND INDEMNITIES
The Directors, CEO and Company Secretary of the Victorian Cricket Association are provided with a Deed of Indemnity, Access & Insurance with the company. No benefit has been received under an indemnity from the company during the year ended 30 June 2022 or to the date of this report.
CRICKET VICTORIA 32
DIRECTORS’ REPORT MEETINGS OF DIRECTORS Director Board Meetings Finance, Audit & Risk PerformanceHigh CommunityCricket Communications & Stakeholders Premier Cricket Nominations M A M A M A M A M A M A M A David Maddocks 9 9 12 11 1 1 6 6 3 2 3 3 5 5 Theresa Best 9 9 5 5 3 3 Peter Williams 9 8 13 13 1 1 3 2 Phillip Hyde 1 1 3 3 Lydia Dowse 9 8 1 1 1 1 5 5 Ross Hepburn 9 9 6 6 3 2 5 5 Penelope Cleghorn 9 9 6 6 3 3 Shaun Richardson 8 8 10 10 5 5 3 3 3 3 Melissa McConnell 8 8 10 9 3 3 Sharyn McNeill 6 5 1 1 2 2 Jane Nathan 1 1 2 2 1 1 COMMITTEES Six key standing committees have been established to assist the Board in fulfilling its responsibilities:
iv) Marketing & Communications Committeeoversees marketing, brand and communication objectives, strategies, plans and goals.
Clause 31 of the Constitution 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.
ANNUAL REPORT 2021—22 33
ROUNDING OF AMOUNTS
PROCEEDINGS ON BEHALF OF THE COMPANY
A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 34.
AUDITOR’S INDEPENDENCE DECLARATION
MELBOURNE
The company is a public company limited by guarantee. If the company is wound up, the Constitution states that each voting member is required to contribute an amount not exceeding $100 towards Cricket Victoria’s property while they are a member or within one year after their membership ceases. At 30 June 2022 the members held 25 votes with each Men’s Premier Club (one vote), VMCU and VCCL (one vote each), VSDCA (two votes) and the Women’s Premier Clubs (through the WPP) collectively (three votes). (2021: 25 votes).
No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the company, or to 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 part of those proceedings.
The company is of a kind referred to in ASIC Legislative Instrument 2016/191, relating to the ‘rounding off’ of amounts in the directors’ report. Amounts in the directors’ report have been rounded off in accordance with the instrument to the nearest thousand dollars, or in certain cases, to the nearest dollar. This report is made in accordance with a resolution of directors.
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.
MEMBERS GUARANTEE
PETER WILLIAMS DIRECTOR, MELBOURNE 27/07/2022
DAVID MADDOCKS DIRECTOR, 27/07/2022
(a)
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.
contraventions
and
Auditor’s lead auditor for the audit of Victorian Cricket Association the year ended that to the best of knowledge belief, there have been: no of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; no contraventions of any applicable code of professional conduct in relation to the audit. declaration is in respect of Victorian Cricket Association and the entities it controlled during the
Independence Declaration As
30 June 2022, I declare
for
This
period.Andrew Cronin Melbourne PricewaterhouseCoopersPartner 28 July 2022 CRICKET VICTORIA 34
and (b)
my
As stated in note 1(b) of the consolidated 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 ‘general purpose reduced disclosure financial report’ has been prepared to satisfy the directors’ reporting requirements under the Corporations Act 2001.
JULY 2022
PETER WILLIAMS DIRECTOR, MELBOURNE 27 DAVID MADDOCKS DIRECTOR,
The directors declare that: (a) the financial statements and notes set out on pages 38 to 53 are in accordance with the Corporations Act 2001, including: (i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements, and (ii) giving a true and fair view of the consolidated entity’s financial position as at 30 June 2022 and of its performance for the financial year ended on that date, and (b) there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable, and (c) The directors have been given the declarations by the Chief Executive Officer and General Manager Business Services in line with section 295A of the Corporations Act. This declaration is made in accordance with a resolution of directors.
MELBOURNE 27 JULY 2022 DIRECTORS’ DECLARATION ANNUAL REPORT 2021—22 35
The Group financial report comprises: • the consolidated statement of financial position as at 30 June 2022 • 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 comprehen sive income for the year then ended • the notes to the consolidated financial statements, which include significant accounting policies and other explanatory information • the directors’ declaration.
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 a t 30 June 2022 and of its financial performance for the year then ended (b) complying with Australian Accounting Standards Simplified Disclosures and the Corporations Regulations 2001 What we have audited
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 & Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (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. Other information
In our opinion:
To the members of Victorian Cricket Association
The directors are responsible for the other information. The other information comprises the information included in the Annual Financial Report for the year ended 30 June 2022, but does not include the financial report and our auditor’s report thereon.
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 Liability limited by a scheme approved under Professional Standards Legislation. Independent auditor’s report
CRICKET VICTORIA 36
Our opinion
This description forms part of our auditor's report.
In connection with our audit of th e financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit, or otherwise appears to be materia lly misstated.
Responsibilities of the directors for the financial report
Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon.
The directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accou nting Standards Simplified Disclosures and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.
If, based on the work we have performed on the other information that we 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.
Auditor’s responsibilities for the audit of the financial report
Our objectives are to obtain reasona ble 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 guara ntee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report.
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.
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
AndrewPricewaterhouseCoopersCronin Melbourne Partner 28 July 2022 ANNUAL REPORT 2021—22 37
AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2022 CONSOLIDATED STATEMENT OF PROFIT OR LOSS Notes 2022$ 2021$ Revenue from contracts with customers 4 41,106,555 38,093,459 Interest income 970 3,995 Gain/(loss) attributable to movements in fair value in investment property and investment portfolio (858,100) 3,935,369 Gain/(loss) attributable to Australian Cricket match cost sharing model* (470,551) 1,084,690 Employee benefit expenses (23,055,826) (20,964,748) Restructuring expenses** (197,726) (347,494) Consultants expenses (293,718) (260,235) Depreciation expense (1,503,749) (1,466,158) Cricket match expenses (6,408,190) (4,604,886) Travel, catering and corporate hospitality expenses (2,954,132) (1,952,779) IT and communication expenses (477,790) (369,073) Repairs, hire and equipment expenses (1,151,215) (1,151,288) Awards, promotion and advertising expenses (1,052,447) (719,365) Motor vehicle expenses (575,787) (365,660) Other expenses (2,702,882) (2,223,914) Profit/(Loss) before tax and grants to associated bodies (594,588) 8,691,913 Income tax expense 1(d) Grants to associated bodies (3,083,021) (3,825,848) Profit/(Loss) for the period (3,677,609) 4,866,065 Other Comprehensive Income Total comprehensive income for the period (3,677,609) 4,866,065 *Loss attributable to Australian Cricket match cost sharing model represents the payment of funds as part of the national agreement amongst the eight BBL teams and Cricket Australia to share equally the net match returns of BBL11. This payment of funds should be read in conjunction with associated cricket match **Restructuringexpenses.expenses incurred as a result of organisational changes within the Group in FY22. The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes. CRICKET VICTORIA 38
The above consolidated statement of financial position should be read in conjunction with the accompanying notes. CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2022 Notes 2022$ 2021$ Current assets Cash and cash equivalents 14 4,681,086 7,515,658 Trade and other receivables 5 1,159,180 561,543 Other financial assets 6 19,811,850 21,043,108 Other current assets 4,605 Total current assets 25,652,116 29,124,914 Non-current assets Cricket association loans 5 12,500 Property, plant and equipment 8 41,130,075 42,053,746 Right-of-use assets 10 3,450,310 3,247,658 Investment properties 7 12,300,000 12,050,000 Other assets 16,244 190,502 Total non-current assets 56,896,629 57,554,406 Total assets 82,548,745 86,679,320 Current liabilities Trade and other payables 9 2,285,332 2,735,141 Lease liabilities 10 167,530 75,280 Provisions 11 622,055 1,068,667 Other financial liabilities 12 2,027,755 2,241,823 Other current liabilities 100,000 Total current liabilities 5,202,672 6,120,911 Non-current liabilities Lease liabilities 10 3,455,337 3,286,391 Provisions 11 900,225 603,898 Total non-current liabilities 4,355,562 3,890,289 Total liabilities 9,558,234 10,011,200 Net assets 72,990,511 76,668,120 EQUITY Share capital 10 10 Retained earnings 72,990,501 76,668,110 Total equity 72,990,511 76,668,120 ANNUAL REPORT 2021—22 39
The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2022 Share capital$ Retained earnings$ Total$ Balance at 1 July 2020 10 71,802,045 71,802,055 Profit for the period 4,866,065 4,866,065 Total comprehensive income for the period 4,866,065 4,866,065 Balance at 30 June 2021 10 76,668,110 76,668,120 Share capital$ Retained earnings$ Total$ Balance at 30 June 2021 10 76,668,110 76,668,120 Loss for the period (3,677,609) (3,677,609) Total comprehensive income for the period (3,677,609) (3,677,609) Balance at 30 June 2022 10 72,990,501 72,990,511 CRICKET VICTORIA 40
inflow
(125,238) Net cash
Payments for property, plant and equipment (419,208) (269,566) from disposal of property, plant and equipment 14,000 Net cash (outflow) from investing activities (405,208) (269,566)
4,519,888 Cash
14(a)
Principal elements of finance lease payments (114,058) (5,044) Net cash (outflow) from financing activities (114,058) (5,044)
increase in cash and cash equivalents
Receipts of grants
from customers 40,148,480 36,650,766 Payments to suppliers and employees
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. CONSOLIDATED STATEMENT OF CASH FLOWS AS AT 30 JUNE 2022 Notes 2022$ 2021$ Cash flows from operating activities
2,551,775 Interest received 970 3,995 Interest paid - leases
Proceeds
4,245,278 Cash and cash equivalents at
Net (decrease) (2,834,572) the beginning of
the financial year 7,515,658 3,270,380 Cash and cash equivalents at end of year 14 4,681,086 7,515,658 ANNUAL REPORT 2021—22 41
Cash flows from financing activities
Receipts (42,811,318) (34,561,410) 479,461 (132,899) (outflow) from operating activities (2,315,306) flows from investing 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 ‘general purpose reduced disclosure financial report’ has been prepared to satisfy the directors’ reporting requirements under the Corporations Act 2001.
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the Victorian Cricket Association Group comply with Australian Accounting Standards - Simplified Disclosure Requirements as issued by the Australian Accounting Standards Board (AASB).
• BBL matches were again disrupted due to the impacts of COVID-19. This resulted in some matches not being able to be played in the home team state and these matches were moved to the east coast. This resulted in a significant cost increase with the competition being moved to Melbourne and played in a hub environment towards the end of the season. The impact of COVID-19 resulted in lower ticket revenue and a significant increase in costs due to additional biosecurity costs, and travel & accommodation costs. It was agreed that these additional costs would be equally shared under a cost sharing arrangement agreed to by the BBL teams & Cricket Australia.
(b) Financial reporting framework
These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board and the Corporations Act 2001. Victorian Cricket Association is a not-for-profit entity for the purpose of preparing the financial statements.
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.
• The investment properties held by the Victorian Cricket Association were revalued by an independent valuer and an unrealised gain of $0.25m was recognised through the statement of profit or loss.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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.
Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the taxation authority is included with other receivables or payables in the consolidated statement of financial position.
2. SIGNIFICANT CHANGES IN THE CURRENT REPORTING PERIOD
Where necessary comparative amounts have been represented or reclassified to ensure compatibility with the current year.
(a) Basis of preparation
(ii) Historical cost convention
(e) Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the taxation authority. In this case it is recognised as part of the cost of acquisition of the asset or as part of the expense.
• Contractual base funding from Cricket Australia was reduced by 7.5%.
CRICKET VICTORIA 42
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.
(c) Principles of consolidation and equity accounting
(d) Income tax
(i) Compliance with Australian Accounting Standards - Simplified Disclosure Requirements
Cash flows are presented 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.
• The investment portfolio held by the Victorian Cricket Association was impacted by the volatility of world markets through FY22, resulting in a decrease of $1.1m of which $1.5m was unrealised losses and recognised through the profit or loss.
All inter-company balances and transactions between entities in the consolidated entity, including any unrealised profits or losses, have been eliminated on Whereconsolidation.consolidated entities have entered or left the consolidated entity during the year, their operating results have been included from the date control was obtained or until the date control ceased.
The financial position and performance of the Group was particularly affected by the ongoing COVID-19 pandemic and the following transactions during the reporting period:
Sponsorship revenue
3. CRITICAL ESTIMATES, JUDGEMENTS AND ERRORS
Revenue from Cricket Australia is generated via contributions from Cricket Australia to support the management of operations of the business, state teams & W/BBL teams. As per AASB 15, revenue from Cricket Australia is recognised when the specified performance obligations have been satisfied.
2022$ 2021$ 4. REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue from Cricket Australia 30,661,290 28,525,010 Grant revenue 479,461 2,551,775 Revenue from cricket matches 2,546,951 1,542,083 Sponsorship 5,433,099 4,047,435 Registrations 533,136 388,920 Rental revenue 414,057 314,337 Profit on sale of assets (1,918) Other revenue 1,040,479 723,899 41,106,555 38,093,459 In 2021, grants include JobKeeper funding and COVID-19 Community Sport Sector Survival Package from the Victorian Government. ACCOUNTING POLICIES
ANNUAL REPORT 2021—22 43
Revenue is measured at the fair value of the consideration received or receivable.
Revenue from cricket matches
Revenue from cricket matches is generated via proceeds from ticket sales, memberships, merchandise and hospitality to T20 Big Bash League matches and domestic state team matches. As per AASB 15, revenue from cricket matches is recognised when the specified performance obligations have been satisfied.
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.
Revenue from Cricket Australia
Grant Whererevenuecontracts contain specified performance obligations, as per AASB 15, revenue from grants and other contributions is recognised when the specified performance obligations have been satisfied. Where contracts do not contain specified performance obligations, as per AASB 1058, revenue from grants and other contributions is recognised immediately in profit or loss.
As per AASB 15, sponsorship revenue is recognised when the specified performance obligations have been satisfied.
Other Revenuerevenueisrecognised when the specified performance obligations have been satisfied.
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 time frame 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 the profit or loss which are initially measured at fair value.
ACCOUNTING POLICIES
2022$ 2021$ 5. TRADE AND OTHER RECEIVABLES Current Trade receivables 1,125,961 457,205 Accrued income* 5,667 22,946 Cricket association loans 12,500 12,500 Other receivables 15,052 68,892 1,159,180 561,543 Non-current Cricket association loans 12,500 2022$ 2021$ 6. OTHER FINANCIAL ASSETS Managed funds at fair value 19,281,667 19,978,856 Managed cash funds at fair value 530,183 1,064,252 19,811,850 21,043,108 Current and non-current loans outstanding to cricket clubs as at 30 June 2022 is $12,500 (2021:$25,000). No new loans were made in 2022.
ACCRUED INCOME Revenue is recognised on an accrual basis in accordance with the substance of the relevant agreements.
Financial assets at fair value through profit or loss Financial assets are classified as financial assets at fair value through the 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 profittaking; or (iii) is a derivative that is not designated and effective as a hedging instrument.
Financial assets at fair value through the profit or loss are stated at fair value, with any resultant gain or loss recognised in the profit or loss. The net gain or loss recognised in the profit or loss incorporates any dividend or interest earned on the financial asset. Fair value is determined in the manner described Thebelow.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. Equity instruments are held for trading whilst debt instruments are not held for the purpose of payment of principal and interest. Therefore, these financial assets do not meet the criteria for amortised cost or fair value through other comprehensive income and should be recognised as fair value through profit or loss.
CRICKET VICTORIA 44
ACCOUNTING POLICIES
Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The Group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method.
Collectability of trade receivables is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. A provision for impairment of trade receivables is raised based on the expected credit loss model under AASB 9. The Group recognises a provision based on historical default rates, debtor analysis and the Group’s monitoring of credit risk.
• Buildings 5
50 years • Plant and equipment 2
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.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.
30 years • Motor Vehicles 4 - 5 years Derecognition
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 during the year.
ANNUAL REPORT 2021—22 45
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 detailed independent valuations for its investment properties every three years with independent desktop valuations provided for the intervening two years. At the end of each reporting period, the Group updates its assessment of the fair value of each property, taking into account the most recent independent valuations. The Group determines a property’s value within a range of reasonable fair value estimates. 2022$ 2021$ 7. INVESTMENT PROPERTY Investment properties - Independent valuation 12,300,000 12,050,000 8. PROPERTY, PLANT AND EQUIPMENT Buildingscostat$ Plant equipmentandatcost$ vehiclesMotor$ Total$ At 30 June 2021 Cost or fair value 43,009,209 2,854,274 189,260 46,052,743 Accumulated depreciation (2,798,867) (1,033,290) (166,840) (3,998,997) Net book amount 40,210,342 1,820,984 22,420 42,053,746 Year ended 30 June 2022 Opening net book amount 40,210,342 1,820,984 22,420 42,053,746 Additions 19,950 383,015 402,965 Disposals (430) (15,487) (15,917) Depreciation and amortisation expenses (960,334) (346,652) (3,734) (1,310,720) Closing net book amount 39,269,958 1,856,917 3,199 41,130,074 ACCOUNTING POLICIES
2022$ 2021$ 9. TRADE AND OTHER PAYABLES Trade payables 871,455 911,803 Other creditors and accruals 1,413,877 1,823,338 2,285,332 2,735,141 2022$ 2021$ Right-of-use assets Property 3,195,725 3,189,254 Motor vehicles 233,831 55,368 Equipment 20,755 3,036 3,450,311 3,247,658 Lease liabilities Current 167,529 75,280 Non-current 3,455,337 3,286,391 3,622,867 3,361,671 ACCOUNTING POLICIES Trade payables and other payables are recognised when the Group becomes obliged to make future payments resulting from the purchase of goods and services. Trade and other payables are carried at amortised cost. 10. LEASES (i) Amounts recognised in the consolidated statement of financial position 2022$ Depreciation charge of right-of-use assets Property 81,404 Motor vehicles (6,450) Equipment (9,495) Interest expense 132,899 Expenses relating to short-term leases 20,012 (ii) Amounts recognised in the consolidated statement of profit or loss CRICKET VICTORIA 46
To determine the incremental borrowing rate, the Group:
Right-of-use assets are measured at cost comprising the following:
Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease arrangements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes.
• the amount of the initial measurement of lease liability • any lease payments made at or before the commencement date less any lease incentives received • any initial direct costs, and • restoration costs
Extension and termination options
Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life.
As per AASB 16 Leases, leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the AssetsGroup.and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:• fixed payments (including in-substance fixed payments), less any lease incentives receivable • variable lease payment that are based on the Victorian Cricket Association’s incremental borrowing rate (based on the published interest rate used by similar entities to the Victorian Cricket Association). Initially measured using the incremental borrowing rate as at commencement date of 1 July 2019 • amounts expected to be payable by the Group under residual value guarantees • the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and • payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.
Payments associated with short-term leases of property, equipment and vehicles and all leases of low-value assets are recognised on a straight line basis as an expense in the profit or loss. Short term leases are leases with a lease term of 12 months or less. Low-value assets comprise of office leases in locations in metropolitan Melbourne and regional Victoria.
The Group is exposed to potential future increase in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use Leaseasset.
payments are allocated between principal and finance costs. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.
ANNUAL REPORT 2021—22 47
Extension and termination options are included in a number of properties, equipment and motor vehicle leases across the Group. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor.
Lease payments to be made under reasonably certain extension options are also included in the measurement of a liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the Victorian Cricket Association’s incremental borrowing rate is used, being the rate that the Group would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.
• uses the lease impact assessment provided by accounting firm BDO, whereby the incremental borrowing rate was based on the published interest rate used by similar entities to the Victorian Cricket Association.
THE GROUP’S LEASING ACTIVITIES AND HOW THESE ARE ACCOUNTED FOR
The Group leases Junction Oval, two surrounding ovals in the nearby Albert Park precinct, gym equipment and motor vehicles. Rental contracts are typically made for fixed periods of one year to four years, but may have extension options as described below. The property lease for the Junction Oval is a 50-year Contractslease. may contain both lease and non-lease components. For all leases where both lease and non-lease components exist, predominantly motor vehicle contracts, the Group has elected not to split the payments into lease and non-lease components.
603,898 1,672,565 ACCOUNTING
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.
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.
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.
EMPLOYEE BENEFITS
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.
The company also has a contingent liability facility limit of $515,000 of which of $260,000 has been provided as bank guarantees as part of the redevelopment of the Kevin Murray Stand at Junction Oval. These may be called upon in the event that Cricket Victoria breaches its contractual obligations. 1,522,280 1,068,667 POLICIES
2022$ 2021$ 12. OTHER LIABILITIES Income received in advance 2,027,755 2,241,823 2022 2021 Current$ Non-current$ Total$ Current$ Non-current$ Total$ 11. PROVISIONS Employee benefits 622,055 900,225
The parent entity has an overdraft facility of $200,000 of which the unused portion at reporting date is $200,000.
Liabilities recognised in respect of employee benefits which are not expected to be settled within 12 months are measured as the present value of the estimated future cash outflows to be made by the Group in respect of services provided by employees up to the reporting date.
CRICKET VICTORIA 48
Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows.
Liabilities recognised in respect of employee benefits expected to be settled within 12 months are measured at their nominal values using the remuneration rate expected to apply at the time of settlement.
The main contributors of income received in advance relate to Cricket Australia funding for the Australian Cricket Infrastructure Fund and sponsorship revenue relating to FY23. 13. FINANCING FACILITIES
2022$ 2021$ 14. CASH AND CASH EQUIVALENTS Cash at bank 4,681,086 7,515,658 ACCOUNTING POLICIES For the purposes of the statement of cash flows, cash and cash equivalents includes cash on hand and in banks, 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. Notes 2022$ 2021$ (Loss)/profit for the period (3,677,609) 4,866,065 AdjustmentsDepreciationfor and amortisation 1,503,749 1,466,158 Unrealised (gain)/loss on revaluation of investment properties (250,000) (1,425,000) Bad and doubtful debt expense/(recovered) 300 Unrealised (gain)/loss on managed funds 1,231,257 (2,397,211) Net (gain)/loss on sale of non-current assets 1,917 Movement in working capital Trade and other receivables (485,137) 31,506 Other assets 4,605 (4,605) Lease liability (104,855) Trade and other payables (279,732) 1,122,871 Provisions (150,288) (577,911) Income received in advance (214,068) 1,542,570 Net cash inflow (outflow) from operating activities (2,315,306) 4,519,888 (a) Reconciliation of profit or (loss) after income tax to net cash inflow from operating activities ANNUAL REPORT 2021—22 49
16. RELATED PARTY TRANSACTIONS (a) Key management personnel compensation Key management personnel include executives with the authority for the strategic direction and management of the Group. Key management personnel remuneration for the year ended 30 June 2022 is set out below: ACCOUNTING POLICIES Short-term benefits Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. Termination benefits Termination benefits are expensed at the earlier of when the Group can no longer withdraw the offer of those benefits and when the Group recognises costs for a restructuring. If benefits are not expected to be settled wholly within 12 months of the end of the reporting period, then they are discounted. 2022$ 2021$ 15. PARENT ENTITY FINANCIAL INFORMATION Parent Entity Current assets 25,012,903 28,908,017 Non-current assets 56,896,628 57,554,408 Total assets 81,909,531 86,462,424 Current liabilities (9,047,975) (13,960,438) Non-current liabilities (4,355,337) (3,890,290) Total liabilities (13,403,312) (17,850,728) Profit or (loss) for the period (107,123) 6,058,644 Total comprehensive income (107,123) 6,058,644 Investment in subsidiaries Name 2022 Ownership % 2021 Ownership % Melbourne Stars Ltd 100% 100% Melbourne Renegades Pty Ltd 100% 100% 2022$ 2021$ Total remuneration 1,851,220 1,689,268 CRICKET VICTORIA 50
17. 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 4-year (2020-2023) funding agreement with Cricket Victoria. Cricket Victoria has been notified that the funding in FY23 will have an impact on the Group due to a 7.5% reduction in contributions from Cricket Australia due to the financial position of Cricket Australia. (b) Transactions with other related parties The amounts paid in respect to related party transactions for the year ended 30 June 2022 were $32,432 and $438,119 relating to the Australian Cricket match cost sharing models for BBL11 and WBBL07 respectively (2021: $1,084,690). 2022$ 2021$ Western Australian Cricket Association 1,082,180 Queensland Cricket Association (70,180) 2,510 Cricket Australia (400,371) ANNUAL REPORT 2021—22 51
The carrying amount of financial assets represents the maximum credit exposure. When measuring the expected credit losses, balances have been grouped based on the days past due. The ageing of the Group’s current trade receivables is disclosed below:
The
2022$ 2021$ Not past due 542,072 187,926 Past due 0-30 days 19,095 143,048 Past due 31-120 days 585,419 126,231 1,146,586 457,205 CRICKET VICTORIA 52
18. FINANCIAL RISK MANAGEMENT
Based on historical default rates, debtor analysis and the Group’s monitoring of credit risk, no impairment allowance is considered necessary in respect of trade receivables not past due. Not past due and past due 0-30 days balances represent 49 per cent of the total balance. The remaining balance relates to customers considered low risk based on their association with the Victorian Cricket Association. current expected loss rate across the Group is 0%.
Financial Risk Management framework
The Group ensures at all times an appropriate level of liquidity comprising primarily of cash resources. To facilitate this, the Group monitors forecasted and actual cash flows and undertakes analysis to ensure adequate liquidity is available for the Group. The Group aims to have sufficient cash or cash equivalents on demand and investments that can be liquidated at short notice to meet operational expenses for a period of up to 60 days.
(b) Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by cash. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation.
(a) Market risk Market risk is the risk that changes in market prices, such as interest rates and equity prices - will affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.
(i) Interest rate risk Interest rate risk refers to the risk that the value of a financial instrument or cash flows associated with the instrument will fluctuate due to changes in market interest rates. Interest rate risk arises from interest-bearing financial assets that the Group utilises. Interest-bearing financial assets are generally shortterm liquid assets.
The Group’s financial risk management policies cover risk tolerance, internal controls (including segregation of duties), investments and delegated authority limits in addition to the reporting of any exposures through board committees and ultimately to the board. These policies are reviewed at least annually and approved by the board of directors.
(ii) Price risk Equity price risk arises from financial assets designated at fair value through profit or loss held by the Group in the form of investments in listed equities. The portfolio of investments is managed by external portfolio managers, who buy and sell equities based on their analysis of returns. The asset position and returns are reported to the Finance and Investment Committee on a regular basis.
(c) Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations.
19. EVENTS OCCURING AFTER THE REPORTING PERIOD There remains a risk that revenues for the 2022/23 season may be impacted by the residual impacts of COVID-19 and as such may impact the financial performance of Cricket Victoria in FY23. The external auditor for the Victorian Cricket Association is PricewaterhouseCoopers (2021: PricewaterhouseCoopers) The internal auditor for the Victorian Cricket Association is BDO (2021: BDO) 2022$ 2021$ 20. REMUNERATION OF AUDITORS External Auditor Audit of the financial report 57,250 55,000 Other non audit services 41,139 57,250 96,139 2022$ 2021$ Internal Auditor Internal audit services 19,500 30,000 ANNUAL REPORT 2021—22 53
CITIPOWER CENTRE – JUNCTION OVAL LAKESIDE DRIVE, ST KILDA VIC 3182 T: 03 9085 4000 F: 03 9085 4001 W: cricketvictoria.com.au E: vca@cricketvictoria.com.au