IN PICTURES

A n E xceptional Y ear

IN PICTURES

film finance corporation australia limited



05 / 06

01 letter from the chairman

02 chief executive’s report

04 corporate profile

05 board of directors

06 investment

10 recoupment & project performance

13 public relations &

industry development

14 projects report

22 awards

23 films with a theatrical release

24 investment overview

26 corporate governance

28 organisational overview

29 financial report









Little Oberon

38





Senator the hon. rod kemp government incentives – tax children’s television,

minister for the arts offsets, flic funds and tax to assist our deliberations.

and sport incentives – is not attracting we are also very pleased

parliament house enough non-government that our chief executive,

canberra act 2600 investment to sustain brian rosen has renewed

the industry’s future. his contract for a further

Dear minister accordingly, the ffc board term. brian made a

welcomes the government’s significant contribution

I am pleased to present the budget statement commitment to our industry in his

film finance corporation to review the film and first term and we are

australia 2005 /06 television production grateful for his ongoing

annual report. industry to identify effective commitment.

2005 /06 was another big year options for attracting more

private sector investment Finally, i would like to thank

for the ffc. the value of film my fellow directors on the

and television production into film production. the ffc

looks forward to working board and the ffc’s chief

in which the ffc invested executive and staff for their

was $183.77 million. to with the government and

the industry on the review. hard work and commitment

generate this production, in 2005 / 06.

the ffc invested $75.78 million

This important review

in a record 17 feature films,

follows a year when we Yours sincerely

14 television projects (nine

adult and five children’s) celebrated numerous

and 34 documentaries. outstanding achievements in

accordingly, each dollar australian cinema. the rising

of ffc investment generated quality of our productions

through market co- is evidenced by the audience

investment about $2.43 appeal of films released Graham bradley

worth of production. during the year and chairman

their selection in major

The ffc incurred a loss of international festivals.

$1.40 million. this included to have five films selected

a non-cash writedown of for cannes is truly

$7.62 million in the carrying outstanding. i believe the

value of its film investments ffc’s new funding policies

from prior periods in view of played a part in this

the increasing competition resurgence in the quality

in overseas markets. of our feature films.

we continue to refine

The competitive demand our policies to build on

for the ffc’s limited funds this success.

accelerated in 2005 /06,

reflecting the further We welcomed ms sandra gross

decline in private sector to the board in october 2005.

funds for local film and we are very pleased to have

television production. sandra’s deep industry

it is increasingly clear experience, which includes

that the current mix of her distinguished career in

The black road









letter from the chairman

14 september 2006

2 3





In last year’s report i noted releases (i.e. under 70 (non-hollywood) films high-end film and television and television producers I look forward to the review

what appeared to be the first screens) in australia in 2005, produced around the world – production in australia, capitalise their companies to as an opportunity to tackle

signs of a resurgence in including such american and vying for the attention which is an unhealthy a greater degree and share in these issues in a practical

australian film and i believe and european films as of buyers and audiences – has pressure on direct the rewards of successful and outcome-oriented way.

that the industry built well academy-award winning soared compared to a decade government funding and productions?

on this early promise during crash a good woman

crash, woman, ago. this is not least because can only be counterbalanced

2005/06. while there were no ladies in lavender and of the growth in american by a more robust, business- Such an outcome is the

major ‘breakout’ australian downfall look both

downfall. ‘indie’ films (mirrored by the oriented production sector. only one that will extract

films during the year – and ways was not far behind rise of america’s sundance producers from the stop-

this is a challenge the ($3 million) and won film festival), which have The demand on ffc funds was start cycle of project-based, Brian rosen

industry continues to face – invitations to film festivals access to international stars so heavy in 2005/06 that the fee-based remuneration, and chief executive

the distinctiveness and around the world. yet can still be made on ffc took the decision to provide the greatest chance

quality of the films generated super low budgets by world introduce funding rounds, of reducing the continual

some encouraging results at The cannes film festival standards. in short, visibility for the first time in its upwards pressure on direct

the australian box office as 2006 truly confirmed that for australian films is harder history, from 2006/07. the government funding.

well as attracting critical australian films were back than ever to achieve at the production sector supported

recognition domestically on the international map. international level. this decision, despite the Also, as an industry we

and internationally. no less than five australian decreased flexibility it will must continue to envision

features – from a country Television drama continued entail, because of its desire the digital future. will the

The most commercially that is currently producing to engage australian to guarantee that some new digital platforms simply

successful local film was only about 20 features a year audiences, with the incredible level of funds are available fragment already scarce

the low-budget, horror – were amongst the small journey of mary bryant, throughout the year and not revenues to a greater degree,

film wolf creek it had a

creek. group of films selected to society murders and little used up in the first quarter. or will digital distribution

multiplex release in australia screen in un certain regard, oberon achieving impressive provide real alternative

in late 2005 on 150 screens, directors’ fortnight and ratings. the documentary An important development pathways to the major

and grossed a solid $6.06 critics’ week at the world’s series missing persons unit

unit, towards the end of 2005/06 distribution networks that

million box office. the fresh premiere film festival. there garnered in excess of 1.3 was the government’s budget dominate the global film

approach of the film’s was still more celebration million viewers on the announcement that it was and television business?

creative team had already and media coverage when the nine network, a remarkable committed to a review of

won the honour of an ffc-financed ten canoes result. in spite of those the film and television

invitation for wolf creek went on to win the special various successes, the production sector, with a

to screen in directors’ jury prize in un certain regard. industry still faces major view to identifying effective

fortnight at the cannes film the collective interest these problems in terms of accessing ways to attract more private

festival 2005, proving that films generated at cannes the finance needed to grow sector investment into the

even when it comes to ‘genre’ 2006 helped to revitalise in size and succeed in this industry. i believe this

films (horror, thriller, etc.), perceptions of australian fiercely competitive represents a rare opportunity

it is the distinctive voice film among the key world global context. for the film production

that breaks through. buyers who attend the sector to clearly envision

cannes market, and laid the The scarcity of finance its future and seek a renewed

Two smaller releases during groundwork for sales of this extended across all program partnership with government

the financial year, little current batch of films as categories in 2005 /06, not just to realise that vision.

ways,

fish and look both ways well as goodwill towards feature films. the pressure

demonstrated that quality other australian films that on ffc funds from eligible The key issue which any

will attract an audience, will follow. projects was unprecedented in vision must address, in my

even when the subject matter adult and children’s television view, is how government

is tough. with a domestic The backdrop to these drama, documentary and policy measures can

box office of $3.98 million, achievements is a global feature film. the ffc has foster a more robust,

the drama little fish out- environment where the become almost the only entrepreneurial industry

grossed all other specialist number of independent financier able to ‘greenlight’ structure. how can film









chief executive’s report

encouraging an entrepreneurial industry

4 5





The ffc is the government’s Co-financing The ffc can provide different Graham john bradley ceo of united international advisory council.

principal agency for funding types of funding. under its ba, llb (hons), llm, faicd pictures (uip), the world’s alastair was appointed to

with the market constitution it can assist largest international film the board on 19 july 2005 to

the production of film and Formerly ceo of perpetual

television in australia. it is The slate of projects backed qualifying film and distributor, based in london 18 july 2008.

trustees australia, managing from 1996 to 2003. paul has

a wholly-owned government by the ffc each year is television programs by: partner of blake dawson held positions as managing

company, operating under financed by a combination of • undertaking investment waldron and senior partner at director of the greater union Paul noel dainty

ffc funds and finance from mckinsey & company, graham corona academy uk









From left to right: graham john bradley, anthony david buckley, paul noel dainty, paul norman oneile,

a constitution, a ministerial • acquiring, obtaining, organisation (guo) and of

mandate, a board of directors private investors and other joined the ffc board as hoyts entertainment limited. Paul is the chairman and ceo

dealing in and exercising chairman in 2004. he is

and a corporate plan. market partners (e.g. rights paul was appointed to the of dce group, established in

chairman of stockland board on 26 june 2003 and 1995, following over 25 years

distributors, broadcasters,

sales agents, state • making or participating in corporation, hsbc bank reappointed to 25 june 2009. as a key player in australia’s

loans (including print and australia, garvan research entertainment and media

FFC projects government agencies). advertising loans) foundation, po valley energy industries. previous roles

and proteome systems, Peter john davey include director of ticketek,

The ffc funds projects with This leveraging results • investment guarantees and non-executive director of ba, llb (hons), llm founding shareholder and

high levels of creative and in a substantial annual underwriting agreements singapore telecommunications Media executive and former director of eon (now triple m)

production slate. in 2005/06, • leading or participating in and mbf. a member of the









peter john davey, sandra rachel alexandra gross, alastair john mackenzie walton

technical contribution by lawyer, peter is head of fm melbourne, owner and

australians, or projects the ffc invested $75.78 million loan syndicates and similar boards of the australian corporate development for chairman 3xy melbourne, and

certified under australia’s in a slate of new projects joint ventures brandenburg orchestra, state village roadshow limited. owner and chairman of the

official co-production with a total budget of library of nsw and the sydney he was formerly managing melbourne comedy theatre.

$183.77 million. community foundation. director of granada media paul was appointed to the

program. The ffc does not produce or graham was appointed australia, an associate board on 11 august 2005 to

distribute the programs it chairman on 1 january 2004 director of macquarie bank

By co-financing with 10 august 2008.

To support diversity and finances, nor does it develop for three years. and has worked with davis

quality, the ffc funds the theatrical distributors, projects or select which polk & wardwell, a new york

most expensive audiovisual broadcasters, international projects should be developed. law firm. peter was appointed Sandra rachel

program formats: sales agents and other such development roles are

Anthony david buckley to the board on 27 november alexandra gross

am graduate fine art & design,

companies, the ffc ensures performed by the australian 2003 until 26 november 2006.

Anthony is an independent tel aviv art institute and

that programs are connected film commission, the state

feature films, to distribution and film agencies and the

producer whose credits

Alastair john

yafe art college

A founder and general

include the feature films

mini-series, exhibition networks that

have the potential to

private sector. caddie bliss bedevil the

caddie, bliss, bedevil, mackenzie walton

bec, mba, aca

manager of yoram gross

sugar factory and the oyster film studio in 1968, sandra

telemovies & maximise audience reach. All funding decisions are farmer and television dramas Alastair joined goldman sachs developed the studio into

made by the ffc board, which heroes’ mountain – the australia’s leading producer

documentaries meets approximately six times thredbo story, the potato

story

australia as co-chairman and

managing director in 2001. of animated children’s

Accessing a year. jessica.

factory and jessica anthony he is currently advisory television. she is executive

Since its establishment in ffc funds was appointed to the board on director of goldman sachs producer on all the studio’s

1988, the ffc has invested Australian content criteria 1 april 2003 and reappointed jbwere pty ltd, chairman of animated productions and

$1.18 billion in 1,007 projects, All australian film and are specified in division 10ba to 31 march 2009. the corporate council of the live action television series.

television producers / of the income tax assessment european australian business she is currently a director of

with a total production value yoram gross films pty ltd and

production companies can council, a director of the

of $2.38 billion. act. the term ‘development’ Paul norman oneile great barrier reef research yoram gross productions pty

apply to the ffc for funding. refers to the genesis of the bec ltd. sandra was appointed to

foundation and the goldman

To be successful they must project, where ideas are Paul is ceo of aristocrat sachs jbwere foundation. the board on 18 october 2005

FFC funding meet the criteria set out turned into scripts and leisure limited. he was he was recently appointed to 17 october 2008.

in the ffc’s investment producers option source formerly the chairman and to the financial sector

The government funds the guidelines, which are the materials etc.

ffc on a triennial basis and major tool for communicating

has committed to annual ffc policies and are revised board of directors

funding of $70.5 million each year in consultation

to 30 June 2008. with the industry. appointed by the federal minister for the arts and sport









corporate profile

supporting diversity

6 7





During the 2005/06 financial feature film, 66.76% for in excess of $7 million The eleven evaluation documentary that journeys with writer etgar keret and

year the ffc committed $75.78 adult television, 62.20% for and was a star-driven uk / films were: to forbidden zones in a miami israeli writer/director tatia

million to 65 projects with a children’s television and australian co-production Romulus, my father (an ’hood to follow the rising rosenthal on this feature-

total production value of 56.85% for documentary. The average feature film adaptation from raimond career of young rap artist length claymation. set over

$183.77 million. this year the the gearing ratio for the gaita’s acclaimed memoirs) denzell ‘demo’ lovett. a few days around a sydney

budget for the year was $4.89 gittoes produced rampage

corporation’s commitment to 2005/06 slate is 2.43:1, meaning chopper,

stars eric bana, (chopper apartment block, the film

million, significantly down with gabrielle dalton. tenderly weaves together the

these projects was by way of that every dollar committed on last year’s average budget hulk troy and is the

hulk, troy)

by the ffc generates $2.43 in feature film directorial inhabitants’ stories as they

equity investment only. no of $7.23 million. the reduction The home song stories

production. again this year debut of fellow actor yearn for something more

distribution guarantees or is largely due to a downturn from director/writer tony fulfilling in their lives.

print and advertising loans the strongest contributor in the number of international richard roxburgh (moulin

moulin

rouge, helsing

rouge van helsing, blue ayres (walking on water),

walking water

were provided. to this result came from co-productions in the slate. producers liz watts (little

little Forbidden lie$ is a feature-

the adult and children’s murder produced by robert

murder).

connolly and john maynard, fish)

fish and michael mcmahon length investigative

Total investment for the year television categories where EVALUATION/MARKETPLACE is the story of a glamorous documentary from director

amounted to $77.83 million the gearing ratio was a very who previously collaborated

The 2005/06 year represents on three dollars and the shanghai nightclub singer anna broinowski (helen’s

helen’s

which included $1.35 million healthy 2.85:1. this result the second year of operation and her struggle to survive in war featuring the author

war)

bank romulus, my father

bank.

as additional investment continues to reflect the for the ffc’s two-door is a poignant coming-of-age australia with her two children. of the best-selling book

or enhancement to projects competitive demand in these approach to financing feature story set in early-60s victoria. based on real events this is forbidden love – norma

contracted in previous categories resulting in films. projects coming through an epic tale of love, betrayal khouri. khouri’s book told

financial years and variations higher broadcast licence the evaluation door are Hunt angels a docu-drama

angels, and hidden secrets that spans the supposedly true story of a

totalling $0.70 million fees from the domestic feature starring ben continents and decades. young jordanian woman who

assessed by the ffc’s evaluation

committed to projects free-to-air networks and the

mendelsohn (the year my was the victim of an honour

managers to determine their Night from director /writer killing by male members of

contracted during this strong marketplace support, merit in three key areas: broke, mullet)

voice broke mullet is a

particularly in the children’s comic and inventive take on lawrence johnston (eternity

eternity, her family. but in 2004, the

financial year. one project creative potential, market life)

life is a cinematic ‘event’ literary world was turned on

was approved during the television category. potential and audience the true story of two movie-

making outlaws who took feature documentary exploring its head when it was revealed

2005 /06 year but not potential. a successful the universal nature of night that khouri’s story of the

contracted by june 30 2006. on the powerful cinema

Feature film project will receive a letter conglomerates, a posse of and how we experience it. jordanian virgin and her own

of intent to invest from the police and the cultural night falls once every day identity were fake. producers

NON-FFC PARTICIPATION board and then proceed to and its darkness affects us sally regan and broinowski aim

Last year’s record investment cringe in their passionate

The corporation gears up in 14 films is a record broken financing stage. a project pursuit to make australian all. johnston is producing to uncover the truth.

its appropriation from again this year with 17 features entering through the films. produced by sue maslin alongside lizzette atkins

government by co-investing marketplace door must (japanese story) and written

japanese story (vietnam nurses

vietnam nurses). The six marketplace

funded. feature films made projects were:

with the marketplace and up 51.15% of total funds achieve significant levels of and directed by alec morgan.

private investors both genuine marketplace support Noise from director/writer Boytown mick molloy

invested (or 54.98% of base matthew saville (we can be

we

domestic and international; funding). the ffc invested as a prerequisite to acts,

Death defying acts from returns to the big screen in

with the state funding bodies acclaimed director gillian heroes and producer trevor

heroes) the story of glenny g, an 80s

$38.76 million in this year’s consideration by the board. blainey (roy hollsdotter

roy

and by re-investing its armstrong and producers pop superstar turned suburban

feature slate, down from live is a black comedy about

live)

recoupment from projects The ffc’s evaluation managers marian macgowan and chris schoolteacher who, after

$44.6 million last year, while curling, is a story of passion, a disaffected young cop. hearing a cover version of

active in the marketplace. still achieving a record considered 40 feature film noise explores the ripple

projects during the financial redemption and the power of one of his songs on the radio,

during the 2005 /06 financial number of films financed. effect that occurs across a decides to have another

magic set during the triumphant

year the ffc secured an year, four of which were 1926 british tour of revered city in the aftermath of an crack at the big time.

average non-ffc participation of the 17 films financed: feature documentaries. magician harry houdini. guy incident on a suburban train. producers mick molloy and

rate of 58.76% in its · five had budgets under the board issued letters of pearce will play houdini in this brendan cowell and newcomer greg sitch, writers mick

investment slate (calculated $2 million (four of which intent to 17 of these projects. uk-australian co-production, maia thomas lead the cast. molloy and richard molloy,

as a percentage of the total were feature documentaries) during the course of the year alongside british star catherine director, kevin carlin.

production budgets of 11 letter-of-intent projects chicago).

zeta jones (chicago Lucky miles tells the tragi-

· seven had budgets between comic story of three men Kokoda,

Kokoda from director

projects in the slate). $2 million and $5 million were funded. of the remaining

feature films on this year’s Clubland director cherie from cambodia, indonesia and alister grierson and

The non-ffc participation · four had budgets between slate, six were successful marking time,

nowlan (marking time thank iraq who become hopelessly producers leesa kahn and

can be further broken down $5 million and $7 million applicants through the lizzie),

god he met lizzie producer lost in the australian desert, catriona hughes. this

by category into 53.37% for · only one film had a budget marketplace door. small claims

rosemary blight (small claims), looking for a western-style psychological thriller follows

small

writer keith thompson (small democracy amongst the stones a lost patrol of australian

claims).

claims a sexual coming-of- of the pilbara. executive soldiers cut off from their

age comedy about a shy and producer is michael bourchier, supply line on the kokoda

inexperienced young man, his producer is jo dyer, writer / track during the battle for

raucous comedienne mother director is michael james isurava, new guinea, in 1942.

and new girlfriend. starring rowland, with writer executive producers are geoff

secrets

brenda blethyn (secrets and helen barnes. levy, lynda house and

lies pride and prejudice khan

lies, prejudice), antonio zeccola.

chittenden and emma booth. $9.99 australian producer

emile sherman (candy and

candy) warning,

Storm warning directed

investment Rampage from maverick

Rampage,

director george gittoes

israeli producer amir harel

(paradise now winner of

paradise now,

by australian jamie blanks

(urban legends a hollywood

urban legends,

(soundtrack to war

soundtrack war), 2005 golden globe for best blockbuster grossing in excess

$77.83 million total investment for 2005 /06 is a freewheeling feature foreign film) have teamed of us$100 million worldwide),

8 9





is a thriller about a couple mini-series, three telemovies 58.5 hours of production. percentage of the total With no requirement for SBS commissioned a number of

who become lost when the and one telemovie franchise. the ffc invested $11.79 million budget. the ffc accepts this market attachments, four one-hour programs including

engine of their zodiac boat $11.79 million was invested in in the slate, generating a commitment as the only non- documentary projects were a film about outsourcing

fails and they drift off five children’s drama series. production value of $31.19 ffc participation required. funded in the second year job;

take this job the magic

course into a mangrove the ffc investment of $27.67 million. the ffc contributed the nine network participated of the special documentary bullet a dramatised look at

bullet,

swamp. produced by gary million in the two categories an average of 37.80% of the total in the accord program with fund. the music of vivaldi’s the discovery of penicillin;

hamilton and pete ford, represented 36.50% of total production which represents highly rating eleven-part much loved four seasons forms inside

naked on the inside, a very

written by everette de roche. funds invested (or 39.25% of a gearing ratio of 2.6:1. series, missing persons 4.

the basis of tim slade’s film 4 personal story about how

base funding). unit.

unit the seven network in uluru david curl takes a we look at our bodies; and,

Hey, hey, it’s esther Four live-action and one also participated with their hugely ambitious and poetic most importantly, a landmark

blueburger is a quirky A very high level of gearing animation series, a total investment in the one-hour look at this australian icon. eight-part series, first

coming-of-age teen comedy was maintained, with the ffc of five productions, were women.

film weeping women australians,

australians produced by

from director /writer cathy contributing only 33.24% of financed this year. first-time the abc commissioned four Carmel travers looks at the some of australia’s finest

randall, producer miriam the production budgets in children’s producer kylie accords one a five-part world of the country women’s aboriginal filmmakers,

stein and executive producer adult television, a gearing du fresne was successful in series, two men in a tinnie.

tinnie association in not all tea chronicling the birth of

heather ogilvie. it explores ratio of 3.0:1. this resulted in financing the series lockie sbs commissioned six accords, scones.

and scones finally, stephen a country and the collision

what it’s really like to be an a record production slate of leonard based on the tim one of which was a series – ramsay explores the world of two worlds from the

outsider in your own world. 36.5 hours of adult television winton book. producer do not resuscitate in

resuscitate. of asperger’s syndrome in the perspective of its first people

drama delivered to free-to- jonathan shiff (h2o – just addition, for the first time, film oops wrong planet.

planet – the first australians.

plonk

Dr plonk, a black-and-white, air networks, up from 28 water)

add water continued his

silent comedy feature from pay television, through the To qualify for ffc finance,

hours in the previous year. long association with well- lifestyle channel, contributed In total, the non-accord

award-winning producer / the off-shore market for known german broadcaster non-accord documentaries

to the accords, via the five spending went to five nsw

director / writer rolf de heer television drama is still soft, zdf. testament to the success need to acquire international

part series into the ocean

ocean. financial commitment as well productions, three in

the tracker canoes,

(the tracker, ten canoes however, the local demand of their first series, two

as a pre-sale from an australian victoria, two in western

song,

dance me to my song from the australian networks sequels – noel price’s

bubby).

bad boy bubby dr plonk The ffc invested in six national broadcaster. the demand for australia and victoria, and

continued to be strong, with bluewater high ii and paul indigenous documentary fund one in queensland. this year

encapsulates many elements the broadcasters willing to barron’s streetsmartz 2 – australian documentaries

(nidf) films with the assistance remains strong and producers was marked by an increasing

of the old silent comedies – commit high licence fees and, were also financed. the

slapstick, thrills and spills, of the australian film continue to be able to secure interest in documentary from

in the majority of projects, commitment made under

romance, action and laughs – equity to productions. commission (afc), abc, sbs, international finance sufficient the international market

the distinctly australian pftc, caama, screenwest, film place. the sales companies

but the story links the children’s drama fund was to trigger ffc participation.

innocence of that world with All free-to-air networks, with victoria and the nsw film and broadcasters that have

to first-time producer caama and television office. assisted in the financing of

today’s much darker times, the exception of seven, made productions from alice Of the 11 non-accords

holding a mirror to society commitments that formed (totalling 22 hours) four non-accord productions this

springs for the 13-part Of the 13 accord projects

and what it has become. part of this year’s adult were with the abc, six with year include: rdf international,

trouble.

series double trouble financed, eight were from films transit, wnet, fremantle,

television slate of 36.5 hours. sbs and one feature-length

Razzle dazzle – a journey the ten network commissioned new south wales, four from production, bali, ravine of itvs, sky, wgbh, electric sky

into dance is the second the mini-series tripping over

over,

Documentaries victoria and one from western hate was with the ten network.

hate, and channel 4 international.

feature film from wild eddie the telemovie franchise australia. no accords were the abc participated in one

The ffc invested in 34 financed from queensland, Susan mackinnon,

films (thunderstruck

thunderstruck). blackjack and two telemovies, documentaries during the series and a number of one-

razzle dazzle is a fly-on- society murders and to south australia, tasmania or hour films, including a film documentary investment

financial year. of these, 11

the-wall mockumentary catch a killer – the last the act. the accord slate about errol flynn (tasmanian manager for eight years, left

were non-accords and 13 were

about the tears, tantrums title being co-commissioned accords. under the national included one 8-part series devil: the fast and furious the ffc in november 2005. the

and tiaras in the world of with itv in the uk. the nine (missing persons unit), one 2- life of errol flynn), a polar ffc would like to acknowledge

indigenous documentary fund

competitive dance eisteddfods. network licensed the bryan (nidf), six half-hour films part series (do not resuscitate), dinosaurs project (dinosaurs her enormous input into

it is directed by darren brown anthology series two were financed and under the and two 5-part series (two men on ice) and the life of the documentary during her time

ashton, produced by jodi twisted the abc licensed

twisted. documentary innovation fund in a tinnie and into the ocean). cuttlefish (the brainy bunch). with the organisation.

matterson, written by the telemovies stepfather of four films were funded. 44 hours

carolyn wilson and robin the bride and before dawn, of television was the result.

ince, and executive- and the mini-series bastard New production investment commitments 2005/06

produced by al clark and boys which is set on the

boys, The ffc committed $9.35 project type p&a loans projects budget ($m) ffc commitment ($m)

andrena finlay. australian waterfront in the million to documentary this

early 1990s. sbs maintained year, up $850,000 from last Documentaries

Television drama their commitment to adult year. this represents 12.34% accord 13 5.66 3.48

non-accord 11 12.77 4.88

drama and commissioned of the ffc’s total production nidf 6 0.69 0.24

There was continued the six-part mini-series investments for this innovation fund 4 2.55 0.75

demand for ffc investment circuit.

the circuit financial year (or 13.26% 34 21.67 9.35

in television drama in the of base funding). non-ffc Features

2005 /06 year. the total The demand for australian participation geared up the marketplace 6 22.0 10.04

evaluation 7 55.38 24.92

production level for children’s mini-series in the value of these funds to a theatrical documentary 4 5.75 3.80

both adult and children’s international and domestic total budget of $21.67 million, 17 83.13 38.76

television was $78.97 market, and the continuation which is nearly $5 million Television Drama

million, which generated of the ffc’s distinctly higher than the previous year. adult 9 47.78 15.88

95 hours of television. australian children’s drama children’s 4 28.23 10.50

distinctively aust children’s drama fund 1 2.96 1.29

fund, resulted in the Under the accords, domestic 14 78.97 27.67

In the adult category the ffc financing of five children’s broadcaster pre-sales are

invested $15.88 million in five mini-series productions and determined as a fixed 0 65 183.77 75.78

10 11





PROJECT PERFORMANCE 2005 /06 and three if awards, including female talent for diana glenn

Returns from Recoupment by genre best direction, best script at the festival des antipodes

international FEATURES $6.18 MILLION 67.3

67.3% Feature films and best editing. the film in st tropez.

australia:

vs australia won a fipresci award at

ADULT TELEVISION DRAMA $0.93 MILLION 10.1% Domestically, ffc-financed The feature-length

brisbane international film

CHILDREN’S TELEVISION DRAMA $1.14 MILLION 12.4% feature films performed well festival, where it also won documentary rampage

DOCUMENTARY $0.94 MILLION 10.2% at the australian box office the audience vote (most premiered in berlinale







71% Recoupment for previous financial years

$8.1

$10.7

$11.5

$18.1

MILLION IN 1989/ 1990

MILLION IN 1990/ 1991

MILLION IN 1991/ 1992

MILLION IN 1992 / 1993

$24.3

$15.6

$12.7

$12.4

MILLION IN 1997/ 1998

MILLION IN 1998/1999

MILLION IN 1999 / 2000

MILLION IN 2000/ 2001

during the 2005/06 financial

year, with two films entering

the ffc’s list of all-time top-

20 performers at the australian

box office. these films are

little fish and wolf creek

creek.



It was a good year too for

popular film). it also

screened at the melbourne

international film festival.



Look both ways also

received considerable

international acclaim. it was

awarded the discovery award

panorama at the berlin

film festival.



Television

A number of ffc adult

television dramas had their

premiere screenings during

$18.3 MILLION IN 1993 / 1994 $14.2 MILLION IN 2001/2002 ffc-financed films at the at the toronto international the year. the telemovies







29%

The film finance corporation

australia recouped

$25.6

$19.3

$22.5

MILLION IN 1994 / 1995

MILLION IN 1995 / 1996

MILLION IN 1996/ 1997

TOTAL RECOUPMENT DURING 2005 2006 WAS $9.19 MILLION

2005/2006





number of the ffc’s titles,

ensuring that the recoupment

$15.4

$11.7

$9.3

MILLION IN 2002 /2003

MILLION IN 2003 /2004

MILLION IN 2004 / 2005

$ 9.19





The ffc recouped in full its

investment in the feature

prestigious cannes film

festival, with five titles

selected. ten canoes and

suburban mayhem screened

in un certain regard,

jindabyne screened in

directors’ fortnight and

look both ways screened

film festival; won the dutch

critics’ prize (knf award)

at the international film

festival rotterdam; and the

international critics’ award

at the asia-pacific film

awards. other international

awards included: astor de

society murders and little

oberon and the miniseries

the incredible journey

of mary bryant achieved

impressive ratings in the high

teens and 20s, with audiences

of around 1.5 million viewers.



$9.2 million in 2005 /06 from levels are at least sustained film wolf creek during the during critics’ week. ten plata best actress and best On the international front,

the slate of projects in which over the next few years. year, making this the tenth canoes went on to win the script at the mar del plata the incredible journey of

it has invested. feature film to do so. this un certain regard special international film festival, mary bryant won a golden

Almost a third of the total film was financed in 2004 and jury prize. and the tv5 monde critics’ plaque for best miniseries at

Total recoupment for the ffc recoupment for 2005 /06 produced by david lightfoot prize at the natfilmfestival the 42nd hugo awards for

from inception to 30 june 2006 was generated by projects and greg mclean. ittle

Little fish took out five afi in denmark. it continued to excellence in television at

was $259.1 million. contracted in 2003/04 (29.4%). awards, including best sound, screen on the international

The ffc’s producers’ revenue the chicago international

the ffc’s older titles are still best lead actress for cate festival circuit at the new

The level of recoupment entitlement scheme entitles film festival, with its

recouping with just over 17% blanchett, best lead actor zealand international film

to the ffc depends on the of this year’s recoupment producers to a share of ffc director, peter andrikidis,

recoupment once a particular for hugo weaving, best festival, san sebastian film

quality and marketability of coming from the projects receiving the silver hugo for

level of recoupment is supporting actress for noni festival, pusan international

the finished product; the contracted from 1988/89 hazlehurst and best editing. best achievement in direction

level of pre-sales; the degree reached. this provides a film festival, chicago at the awards. domestically,

through to 1993/94. reward to producers who the film also won three

of subordination by the ffc international film festival, it won the logie for most

achieve significant film critics’ circle awards, cannes international film

to other investors; and how Feature films generated outstanding miniseries or

lucrative the territories are commercial revenues for including best actor in a festival (critics’ week, fipresci

$6.18 million (67.3%) of their productions. supporting role for sam neill, telemovie and an afi award

from which the ffc recoups the ffc’s recoupment for revelation), and the for best telefeature or

its investment. best actress in a lead role, european film awards 2005,

the year; adult television Qualifying for the scheme miniseries. its uk broadcast

drama provided $0.93 million and best actress in a where it was nominated for

during 2005 /06 were the supporting role; and four (itv) averaged around

The ongoing contraction (10.1%); children’s documentaries peter allen – best non-european film.

inside film (if) awards, 6 million viewers (6.3 and 5.8)

of the international television drama provided the boy from oz for ben look both ways was also

marketplace and the including box office with 30% /26% audience share.

$1.14 million (12.4%); gannon, playing the game for voted most popular film at

strengthening australian documentary titles generated andrew ogilvie and peter du achievement, best sound, the australian film festival,

dollar did not ease overall best actress for cate FFC children’s television

$0.94 million (10.2%). cane, from korea with love london 2006.

during 2005 /06, nor are they blanchett and best actor drama continued to be

for jessica douglas-henry,

likely to improve in the short Overseas sales represented the inheritance for peter for hugo weaving. it also recognised, with holly’s

andy

Candy was invited to screen

term, so the recoupment levels 71% ($6.52 million) of hegedus, dying to leave for screened at toronto in competition at the berlin heroes receiving a bronze

are not expected to increase the ffc’s recoupment for chris hilton, ice break heart international film festival. film festival. plaque at the chris awards

significantly in the near the year. australian- for alan lindsay, diy law for during the columbus

future. however, noteworthy sourced revenue totalled ian collie, and shake, rattle Look both ways received

ook Three dollars was awarded

hree international film and video

sales have been achieved for a $2.67 million. and roll for andrew wiseman. four afi awards including best adapted screenplay at the festival. it also received an

best supporting actor for afi awards and film critics’ afi award for best children’s

anthony hayes, best film, best circle awards, and the film television drama, as well as

direction, and best original received a special mention being invited to screen, along

screenplay; five film critics’ when it screened in the with noah & saskia at the

saskia,

circle awards including ecumenical category at the prix danube festival for

best editor, best film, best montreal film festival. television programs for

recoupment & project performance original screenplay, best children and youth.

director, and best actor in a Oyster farmer picked up the

$259.1 million recouped since 1989 lead role (william mcinnes); audience prize and best new

12 13





lue

Blue water high received Land mines – a love story aul

Raul the terrible received Sponsorship Program screenings this year were managers are made available

the logie for most won the afi award for best a special mention under fish,

feature films little fish like on the ffc website. post-

outstanding children’s documentary. the reportages and current The ffc provides financial minds irresistible jindabyne

minds, irresistible, jindabyne, market briefings for the year

program and the afi young affairs competitive selection support to a number of legends.

ten canoes and footy legends were on the american film

Welcome 2 my deaf world

elcome at the international festival industry guilds and market (afm), miptv/milia,

actor award went to sophie associations for conferences,

luck for her role in was voted most popular of audiovisual programs. mipcom and the cannes film

documentary at the real

awards presentations, prizes Producer attachment festival. these were held in

the series. and forums. funding went scheme

life on film documentary Superflu was nominated

uperflu both sydney and melbourne.

to the screen producers’

Several children’s miniseries film festival. for an emmy award in the association of australia (spaa) The ffc and the australian

premiered on australian research category for the conference; the australian film, television and radio Website

television during the year. irl

Girl in a mirror won the us national academy of writers’ guild awards school (aftrs) collaborate

blue water high continued prestigious rouben mamoulian television, arts & sciences. (awgies) and conference; the to bring emerging australian External communication is

to achieve high ratings award at the sydney film australian screen directors’ producers into the ffc for via e-news alert which goes

festival’s dendy awards, as A number of ffc documentaries association (asda) awards and skills development. during out after each board meeting,

during the year, with the the year, three aftrs this advises 3,440 clients and

second series of wicked well as winning the best premiering on australian conference; the australian

international documentary students were attached to stakeholders that the latest

science also rating well. documentary category and television during the year news and information has

an sbs language services achieved excellent ratings. conference (aidc); the small the ffc’s sydney office.

screen, big picture conference; been posted on the website.

prize. it was awarded best the series missing persons the website features user-

Documentaries the national screenwriters’

australian short documentary unit attracted peak conference; the australian Doing business friendly navigation, with

at the film critics’ circle audiences of around 1.5 film institute (afi) awards; with the ffc options such as a ‘contact us’

FFC-funded documentaries awards and received the rose million viewers for several page, outlining who’s who

the inside film (if) awards; A number of ‘doing business

received recognition both d’or for best arts documentary of the episodes. other the film critics’ circle awards; in the organisation, and a

locally and overseas. (arts and specials award) notable ratings successes with the ffc’ seminars were ‘production round-up’, which

the australian guild of screen held to provide background

at the rose d’or television included i told you i was ill: composers’ (agsc) awards; the lists the status of all ffc

The independent spirit award on key aspects of the ffc, its projects in production. the

festival. the film screened at spike milligan frank

milligan; australian cinematographers’ infrastructure and investment

(of the if awards) went to the melbourne, sydney and hurley: the man who made society (acs) awards; the ffc database plays a valuable

wayne coles-janess for guidelines, deal structuring and role, enabling the corporation

new zealand international history and the series

history; australian film, television contractual requirements. this

his documentary in the film festivals. battle of the brains dust

brains; and radio school (aftrs) to monitor the recoupment

year’s session was held in hobart. of its investment in over

shadow of the palms – iraq

iraq. to dust and real life water

dust; creative producer award; spaa’s

the film received a special Breaking bows and arrow

reaking membership to the international 1,000 projects and provide

rats the series going bush

rats. federation of film producers information to the industry

mention at the bangkok won the grand jury prize at and heat in the kitchen Investment guidelines

international film festival, associations (fiapf); the consultation of a non-confidential nature.

the international festival of rated highly for sbs. australian screen editors’

won best documentary at the oceania documentary film. guild; the enterprise tasman Consultations on the

golden reel awards at the workshop; and the australian Publishing

investment guidelines

tiburon international film Revealing gallipoli screen council (asc) initiative. began with a roundtable

festival and the citizens’ prize received a screen writing FFC information kits are

meeting with the spaa, the available on request and for

at the yamagata international award at the victorian independent producers

Parliament house distribution at festivals and

documentary film festival. premier’s literary awards. initiative (ipi), asda and markets. the kits carry up-to-

screenings the awg. open meetings date news and information

for producers /industry on investment, policy issues,

Screenings of new australian practitioners were held in

films financed by the ffc are sales for ffc-financed projects,

sydney, melbourne, brisbane, awards, production and

Top 20 ffc-financed feature films organised with the joint adelaide, perth and hobart.

at the australian box office house committee at parliament distribution. the newsletter

house, canberra and the provides information on policy

01 STRICTLY BALLROOM $21,760,400 11 RABBIT PROOF FENCE $7,529,402 department of communications, issues affecting the industry.

02 THE ADVENTURES OF PRISCILLA $16,459,245 12 WOLF CREEK $6,059,863 information technology and

Post-market briefings

03 MURIEL’S WEDDING $15,765,571 13 RECKLESS KELLY $5,860,000 A film catalogue was created

04 LANTANA $12,296,976 14 CHOPPER $5,790,583 the arts (docita). for members These sessions are convened

05 THE WOG BOY $11,449,599 15 TWO HANDS $5,478,485 of parliament, senators and by an ffc investment manager for ffc executives to hand

06 GREEN CARD $10,611,000 16 DIRTY DEEDS $5,032,143 parliamentary and departmental who is joined by a panel of out at international markets

07 SHINE $10,167,416 17 STRANGE BEDFELLOWS $4,802,541 staff, screenings aim to industry representatives. when talking to distributors

08 THE MAN WHO SUED GOD $8,546,867 18 JAPANESE STORY $4,333,000 promote an awareness of the in addition, market reports or sales agents who might

09 CRACKERJACK $8,478,202 19 ANTARCTICA $4,010,990 industry’s latest achievements. written by investment provide co-finance or sales.

10 LOOKING FOR ALIBRANDI $8,300,454 20 LITTLE FISH $3,980,486







1988/1989 $70,072 1996/1997 $127,251

Breakdown 1989/1990

1990/1991

$96,057

$224,990

1997/1998

1998/1999

$395,188

$655,972



of 2005 /06 1991/1992

1992/1993

1993/1994

$347,855

$353,305

$479,944

1999/2000

2000/2001

2001/2002

$715,651

$665,126

$548,691

recoupment

by year project contracted

1994/1995

1995/1996

$212,650

$603,994

2002/2003

2003/2004

2004 / 2005

$605,010

$2,703,666

$378,152

378,152

public relations & industry development

collaboration & consultation

14 15





Feature film into a web that entangles us victoria hill 110 minutes Marketplace 90 minutes

all, forbidden lie$ is a volatile sales and distribution palace gittoes and dalton productions gfn productions (pc); geoff levy,

Evaluation films, fortissimo film sales pty ltd (pc); george gittoes (p/d); lynda house, antonio zeccola (ep);

political thriller for our time. ffc participation $1,050,000 BOYTOWN

gabrielle dalton (p) leesa kahn, catriona hughes (p);

90 minutes sales and distribution Glenny g was an 80s pop alister grierson (d/w);

CLUBLAND

liberty productions pty ltd (pc); NIGHT madman cinema, moviehouse superstar and is now a john lonie (w)

A sexual coming-of-age antonio zeccola (ep); sally regan entertainment limited suburban schoolteacher. principal cast jack finisterer,

comedy about a shy and (p); anna broinowski (p/d/w) Feature length documentary

ffc participation $566,260 after hearing a cover version travis mcmahon, simon stone,

inexperienced 20-year-old, sales and distribution becker showing society in all its tom budge, luke ford, angus

films, palace films, abc tv forms, people and places, of one of his songs on the

his raucous comedienne ROMULUS, MY FATHER sampson, christopher baker,

ffc participation $914,634 urban and rural, in radio he decides to have wen leslie, ban barrack, steve

mother and accidentally Based on raimond gaita’s another crack at the

HOME SONG STORIES contemporary australia, le marquand, william mcinnes,

funny new girlfriend. critically acclaimed memoir big time. shane bourne

The story of rose a glamorous night will be a cinematic

106 minutes describing his father’s 88 minutes sales and distribution

rb films pty ltd (pc); shanghai nightclub singer, ‘event’ documentary, which palace films, arclight films

explores the universal eventful life from the migrant molloy boy productions pty ltd

rosemary blight (p); cherie and her struggle to survive in (pc); mick molloy (p/w); greg ffc participation $1,597,531

nowlan (d); keith thompson (w) nature of night and how camps of post-war victoria to

australia with her two young sitch (p); john molloy, richard

principal cast brenda blethyn, we experience the night. his wife christina’s struggle

khan chittenden, emma booth

children. based on a true molloy (cop/w); kevin carlin (d) RAZZLE DAZZLE –

with mental illness. principal cast glenn robbins,

sales and distribution palace story, this is an epic tale of 80 minutes A JOURNEY INTO DANCE

films, goalpost/shaftesbury mothers and sons, mothers and circe films pty ltd (pc); 100 minutes mick molloy, bob franklin,

lizzette atkins (p); arena film pty ltd (pc); wayne hope, gary eck, lachy A fly-on-the-wall look at

ffc participation $4,150,848 daughters, unrequited love, the world of children’s

lawrence johnston (p/d/w) robert connolly, john maynard (p); hulme, sally phillips

betrayal and hidden secrets that sales and distribution dendy richard roxburgh (d); sales and distribution competitive dance – complete

DEATH DEFYING ACTS span continents and decades. films, becker international, sbsi nick drake (w) roadshow, element films, with the glitz, the glamour

uk /australian co-production 110 minutes ffc participation $1,200,000 principal cast eric bana, the ten network and the tantrums – razzle

Death defying acts is a story home song productions pty ltd (pc); franka potente, marton csokas ffc participation $2,581,846

sales and distribution dazzle follows ‘mr jonathan’s

of passion, redemption and liz watts, michael mcmahon (p); NOISE

tony ayres (d/w) footprint, arclight dance academy’ and his

A black comedy about a DR PLONK

the power of magic around principal cast joan chen, ffc participation $4,825,000 jazzketeers who, with their

the triumphant 1926 tour of qi yuwu, joel lok, irene chen, disaffected young cop, It is 1907...dr plonk, unique dance routines,

britain by revered magician steve vidler, kerry walker noise explores the ripple scientist, inventor,

LUCKY MILES compete for grand-final

sales and distribution dendy effect that occurs across a calculates that the world

harry houdini. films, sbsi, mediacorp raintree Three men become hopelessly success at the pinnacle of

city in the aftermath of an will end in 101 years, unless all dance competitions.

115 minutes pictures, fortissimo films lost in the australian desert,

macgowan films pty ltd (pc); ffc participation $3,590,000 incident on a suburban train. immediate action is taken.

looking for a western-style 90 minutes

kirk d’amico, dan lupovitz, 104 minutes democracy amongst the 90 minutes wild eddie (pc); al clark (ep);

marcia nasatir (ep); marian HUNT ANGELS retroactive films pty ltd (pc); vertigo productions pty ltd (pc); jodi matterson and andrena

macgowan, chris curling (p); bryce menzies (ep); trevor stones of the pilbara. sue murray, domenico procacci,

gillian armstrong (d); Set in the 1930s and 40s, blainey (p); matthew saville (d/w) finlay (p); darren ashton (d);

105 minutes bryce menzies (ep); rolf de heer carolyn wilson, robin ince (w)

tony grisoni, brian ward (w) hunt angels is a non-fiction principal cast brendal cowell, short of easy pty ltd (pc); (p /d /w); julie ryan (p)

principal cast guy pearce, maia thomas, henry nixon, principal cast kerry armstrong,

feature that exposes a dark michael bourchier (ep); jo dyer, principal cast nigel martin, ben miller, nadine garner,

catherine zeta jones and dangerous episode in nicholas bell, luke elliot, lesley dyer (p); michael james paul blackwell

sales and distribution fiona macleod denise roberts

australia’s cinema history. rowland (d); helen barnes, sales and distribution sales and distribution

myriad pictures, beckers sales and distribution fandango srl, palace films

ffc participation $5,000,000 it is the true story of movie madman cinema, sbsi michael james rowland (w) wildheart films distribution,

principal cast kenneth moraleda, ffc participation $530,000 celluloid dreams

making outlaws, rupert ffc participation $3,000,000

srisacd sacdpraseuth, rodney afif ffc participation $900,000

FORBIDDEN LIE$ kathner and alma brooks, sales and distribution dendy, HEY, HEY IT’S ESTHER

In july 2004, norma khouri, who took on the powerful RAMPAGE celluloid dreams

Feature-length documentary BLUEBURGER STORM WARNING

best-selling author of cinema conglomerates, ffc participation $1,940,300

Esther blueburger is a On a boating trip metal

forbidden love, was exposed

love a posse of police and the Another gittoes journey into

$9.99

$9.99

quirky coming-of-age teen sculptor pia and lawyer

as norma toliopoulos, an cultural cringe in their the forbidden zones: life comedy that explores what husband rob become lost

alleged chicago con-artist passionate pursuit to make in a miami ’hood; musical A stop-motion animated it’s really like to be an when the engine of their

under investigation by the australian films. innovation as important as feature which offers slightly outsider in your own world. zodiac fails and they

fbi. now norma is out of 85 minutes the field hollers, the blues, less than $10-worth about

hiding and determined film art doco pty ltd (pc); jazz, which also began in the the meaning of life. 100 minutes drift off course into a

antonio zeccola (ep); sue maslin tama films pty ltd (pc); mangrove swamp.

to clear her name. fusing (p); alec morgan (cop/d/w);

black ghettos of the us and 90 minutes heather ogilvie (ep); miriam

murder, deception, greed and went on to evolve as major sherman pictures pty ltd (pc); stein (p); cathy randall (d/w) 100 minutes

daryl dellora (cop) storm warning productions

a global literary scandal principal cast ben mendelsohn, music styles. emile sherman, amir harel (p); principal cast toni collette,

tatia rosenthal (d/w); keisha castle hughes pty ltd (pc); greg sitch,

etgar keret (w) sales and distribution buena martin fabinyi, michael

sales and distribution vista international, showtime, gudinski, mark pennell (ep);

fortissimo films, dendy films, lightning entertainment gary hamilton, pete ford (p);

israeli pay tv rights, ffc participation $2,487,143 ann darrouzet (cop); jamie

israeli theatrical rights blanks (d); everette de roche (w)

ffc participation $2,419,009 KOKODA principal cast nadia fares,

A psychological thriller david lyons, matthew wilkenson,

about a lost patrol of john brumpton

australian soldiers cut off sales and distribution arclight

international, arclight/mushroom

from their supply line on the

projects report kokoda track during the

ffc participation $1,890,000



battle for isurava in new

an outstanding year guinea in 1942.

16 17





Documentary 55 minutes DARK SCIENCE it will take us on emotional INTO THE OCEAN THE PERFECT SMILE

electric pictures pty ltd (pc); In 1910 a young swedish journeys, show us cultural In the tradition of heat A light-hearted exploration

900 NEIGHBOURS andrew ogilvie (p); scientist led an expedition contrasts and celebrate the in the kitchen this series of the smile. smiling makes

jenny garroun (ap); william to australia in search of the follows the roller-coaster the world go round. lovers

In february 2006, australia’s nessen (d); william nessen, rich cultural heritage of

media was rocked by missing link between man and australia as seen through the drama of the restaurant smile, babies smile, leaders

lawrie silverstrin (w)

headlines, ‘skeleton man sales and distribution sbs and ape. dark science retraces eyes of those most intimately business when an australian smile, liars smile. if you can’t

found in housing commission films transit international the expedition steps and visits connected to two countries. restauranteur sets his sights smile, nobody likes you and

flat’. the man had died six ffc participation $139,814 the communities who were on opening a restaurant nobody trusts you.

4 x 55 minute series on foreign shores.

months earlier, but when robbed of artefacts, giving december films pty ltd in 55 minutes

finally found, all that THE BOOK THAT a contemporary indigenous association with grundy 5 x 26 minute series consuello pty ltd (pc); claire

remained of him was a SHOOK THE WORLD perspective on the original television (pc); tony wright (p); essential viewing pty ltd (pc); jager (ep); nell white (p); sarah

expedition and the return steve westh, sean cousins (d) chris hilton (ep); sonja barton (d/w); david tiley (w)

skeleton. 900 neighbours An historical essay film armstrong (p/w); alan erson (d)

of the stolen artefacts. sales and distribution abc, sales and distribution abc

explores the history and that will delve into the sales and distribution ffc participation $208,000

fox and fremantlemedia

character of sydney’s controversy and uproar 52 minutes ffc participation $571,700 xyz network pty ltd

‘infamous’ northcott brought about by the frank haines films (pc); ffc participation $427,000 SUBURB 4 SALE

building as residents prepare publication in this country frank haines (p); warwick

thornton (d); david milroy (w) FIRST AUSTRALIANS On the very edge of sydney,

to host a performance for of the little red school PENICILLIN, THE MAGIC BULLET

sales and distribution sbs Produced by australia’s finest where suburban sprawl meets

the 2006 sydney festival. book while looking at

book, ffc participation $220,000 The discovery of penicillin by

aboriginal filmmakers, this bush, is the ageing public

55 minutes the repressive censorship is the story of the birth of a team lead by the australian housing estate of airds.

big hart productions pty ltd laws australia lived with DINOSAURS ON ICE howard florey is perhaps the

(pc); frank haines (p); phillip contemporary australia as crime rates in airds are

in the 60s and early 70s. The rush is on… to dig a greatest medical breakthrough some of the highest in the

crawford (cp); brendan fletcher never told before – from the

(d); vanessa bates (w) 55 minutes tunnel into the permafrost of the 20th century. an country. nearly half the

perspective of its first people.

sales and distribution abc fortian productions pty ltd of alaska’s north slope extraordinary story of residents are unemployed

ffc participation $182,000 (pc); judy menczel (p),

8 x 52 minute series opportunism, misplaced

before the winter ice melts. first nation films pty ltd (pc); and most children grow up

con anemogiannis (p/d/w) australian dinosaur hunter credit, and personal and in single parent households.

sales and distribution sbs darren dale (ep ); rachel perkins

ABORTION STORIES dr tom rich and alaskan (d/ p); helen panckhurst (p) professional rivalry, which but it’s also some of the

A film about the experience, ffc participation $215,150 spawned from a myth.

gold miner bobby fithian are beck cole(d); louis nowra, cheapest property you can

not the politics, of abortion. joining forces to dig out rachel perkins, beck cole (w) 55 minutes buy in sydney.

it gets behind the often THE BUCHENWALD BALL sales and distribution sbs

65-million-year-old dinosaur arcimedia pty ltd (pc); 52 minutes

hysterical and over- A story of celebration ffc participation $1,180,000 claire jager (p); gordon glenn

remains. if they are successful, magic/real pictures pty ltd (pc);

politicised debate to the and survival. a group of one of the richest bone beds (cop); gordon glenn (d); jessica douglas-henry (ep); anne

real human stories. perhaps orphans, all survivors of the A GOOD MAN gordon glenn (w) delaney (p/d/w); lara cole (ap)

in the world will finally be sales and distribution sbs,

for the first time, it allows buchenwald concentration accessible and the mysteries This is a story of chris, sales and distribution sbs

a&e history channel, rdf ffc participation $194,993

women and men to talk freely camp, organise a ball every of australia’s own polar a true blue aussie farmer, his ffc participation $277,302

about their year to drink, dance, dinosaurs will be one step quadriplegic wife, his teenage

own personal experience celebrate and remember. son and their new-born baby, OUTSOURCED

closer to being solved. MISSING PERSONS UNIT

of abortion. 60 years after liberation, as chris embarks on plans to Explores how globalisation

43/52/55 minutes Every 18 minutes someone is transforming the lives of

55 minutes will this be the last ball? big island pictures pty ltd (pc); open a brothel.

goes missing. an 11-part series women in india working in

parham media productions pty 55 minutes ruth berry, mark chapman (p); 55 minutes

ltd (pc); don parham (p/d/w) following the nsw police gecis, a major indian business-

pericles film productions ruth berry (d); ruth berry (w) divana films pty ltd (pc);

sales and distribution sbs sales and distribution abc safina uberoi, himman dhamija

searching for and locating outsourcing company located

pty ltd (pc); andrew wiseman

ffc participation $182,000 (p/d/w); danny ben-moshe (cop/ w); enterprises and wgbh (p); safina uberoi (d) missing people. in gurgaon, on the outskirts

uri mizrahi (cod/ w) international sales and distribution abc tv 8 x 24 minute series of delhi.

BALI, RAVINE OF HATE sales and distribution sbs ffc participation $539,367 ffc participation $208,000 freehand group pty ltd (pc); 55 minutes

Combining intense personal ffc participation $188,500 peter abbott (ep); ivo burum (sp) mitra films pty ltd (pc); anna

testimony and dramatised DO NOT RESUSCITATE IN SEARCH OF BONY sales and distribution cater (p/d); safina uberoi (d/w)

CUTTLEFISH – A filmmaker’s journey to the nine network sales and distribution sbs,

sequences, this film reveals A literary and filmic ffc participation $700,000

the essential truths about THE BRAINY BUNCH understand the mystery of whodunit. through thirteen wnet new york

death as three characters ffc participation $273,860

the bali attack. A global adventure interviews, archival footage, NAKED ON THE INSIDE

90 minutes exploring the spectacular make choices regarding photographs and evocative

their own mortality. Beyond our clothes and skin, TASMANIAN DEVIL: THE FAST

electric pictures pty ltd (pc); shape-shifting skills of these re-enactments, we uncover who are we? six brave individuals

andrew ogilvie (ep/p), phil craig 55 minutes AND THE FURIOUS LIFE

alien creatures, to discover the life of the author arthur shed their armour, reveal

(ep/w); steve westh (d/w); greg circe films pty ltd (pc); OF ERROL FLYNN

colgan, judith cockburn (cow)

just what goes on between lizzette atkins (p); davor dirlic upfield and the evolution their bodies and share their

(d); david tiley (w)

The story of tasmanian-born

sales and distribution twi, uk their eyes and what they can of bony, the charismatic secrets in an extraordinary

sales and distribution sbs actor errol flynn whose

ffc participation $665,657 teach us about brainpower. ffc participation $246,421 aboriginal detective. experiment in search of their short and flamboyant life,

52/55 minutes 55 minutes inner selves. full of scandals, adventures,

THE BLACK ROAD kaufmann productions (pc); FAMILY FOOTSTEPS two heads media pty ltd (pc); 52/90 minutes loves and excess, was largely

The black road is the gisela kaufmann (p/d/w) janet bell, caroline baum (p); magic/real picture company pty

sales and distribution An immersive factual series lisa matthews (d/w) played out in front of the

first film to reveal aceh’s ltd (pc); jack lechner (ep);

electric sky that takes australians to live sales and distribution sbs ian walker (p); kim farrant (d/w)

camera – either making movies

rebellion against indonesia’s the lives they might have or filling the newsreels and

ffc participation $277,503 ffc participation $204,752 sales and distribution madman,

rule as it really is. had, if their parents had not gossip magazines. but there is

off the fence

immigrated to australia. ffc participation $300,572 another side of flynn that

18 19





is less well-known – his Special National indigenous 26 minutes BEFORE DAWN together, and to find out if

ambitions to be a serious sarah bond (p); 1941. in australia’s darkest any justice has been done

documentary fund documentary fund – steven mCgregor (d); hours, john curtin becomes

writer and newspaper by the conviction.

correspondent, his

series 8 aaron pederson (w)

prime minister and must

4 sales and distribution sbs tv 3 x 120 minute telemovies

documentary films and his In four corners of the globe FLOUR, SUGAR, TEA ffc participation $40,000 battle his political and jigsaw entertainment pty ltd

interest in the spanish civil on four days throughout the military foes as well as his (pc); sue masters (ep); nick

Johno is an aboriginal man murray (p); peter andrikidis,

war and castro’s cuba. year, four violinists come from the far north west of NIGGER LOVERS own inner demons.

kate woods (d); katherine

55 minutes together with their musician queensland. you can hear the One man’s fight against 90 minutes thompson, tim pye,

flaming star films pty ltd (pc); friends to perform one of the depth of his heartache. the racism and prejudice which pericles films pty ltd and shaun micallef (w)

sharyn prentice (p); robert de best loved works of music mullis capital independent (pc); principal cast colin friels,

other day i asked him ‘do you he encounters when he andrew wiseman, richard keddie

young (cop/w); simon nasht (d) marta dusseldorp, garry

sales and distribution ever written; antonio feel frightened?’ his reply tries to have a sign with the (p); jessica hobbs (d);

vivaldi’s the four seasons

seasons. mcdonald, tom long

films transit international was ‘death doesn’t scare me, word ‘nigger’ on it removed alison nisselle (w) sales and distribution

ffc participation $412,188 55 minutes only the thought of not from the sporting field of principal cast william mcinnes, the ten network, bbc worldwide

vast productions pty ltd (pc); seeing my kids grow up, or australia’s largest inland noni hazelhurst ffc participation $2,937,711

TWO MEN IN A TINNIE tim slade (p/d), joanna buggy (p) city – toowoomba, sales and distribution abc

seeing them go into the content sales, abc

ffc participation $200,000 same cycle as me.’ queensland. THE CIRCUIT

John doyle is a city boy who’s ffc participation $732,550

never been to the outback. 26 minutes 26 minutes Drew ellis has taken a

SHADOWS OF ULURU daryl sparkes (p/w); rhonda

his mate dr tim flannery is lee willis-ardler (d/w), BLACKJACK – sabbatical from a comfortable

one of australia’s leading Tells the story of the rock - gina twybie (p) hagan (p/d); stephan hagan (p/w) legal career to go bush…

THE SECOND TRILOGY

scientists and thinkers who and of its influence on the sales and distribution abc sales and distribution abc

charming, confident,

landscapes, people and ffc participation $40,000 ffc participation $40,000 After blowing the whistle

knows the bush as well as on his mates, policeman jack capable, and now completely

anyone. aboard the bismark, creatures that live in its out of his depth, drew finds

shadows. over five years in MAKING SPACE IN TIME AKA WHEN THE NATIVES kempson was sent to the

tim’s twelve-foot aluminium archives to rot – there, with himself in the chaotic,

the making, this film reveals KITCHEN TO THE COURTHOUSE GET RESTLESS

‘tinnie’, they’ve decided to the use of a new computerised challenging world of the

embark on an epic journey australia’s most famous All is not according to ‘the On new year’s day 2006,

crime-tracking system, he kimberley circuit court. this

down the murray and darling natural icon as you’ve never book’ and sometimes things on the gordon estate in

tracks down the perpetrators is no easy trip, particularly if,

rivers, where john and tim seen it before. in indigenous communities dubbo, complaints of

of long unsolved crimes. like drew, you are black.

will reflect on australia. 80 minutes require compromise, as a police brutality towards an

young university graduate aboriginal youth sparked 6 x 60 minute series

the state of the rivers and david curl pty ltd (pc); DEAD MEMORY media world pictures pty ltd

the state of the people who david curl (p) discovers while working a riot, which immediately (pc); ross hutchens, colin south

ffc participation $200,000 A young woman goes missing

live and rely on them is a with an indigenous substance- enforced the new riot and vp); yvonne collins, dot west

when her car breaks down

litmus test for the health misuse counsellor on issues affray law available to the (cop); catriona mckenzie,

NOT ALL TEA AND SCONES one night. her body is found richard frankland (d);

of the nation. affecting the community. new south wales police. this

The country women’s in a national park. when kelly lefever, dot west,

26 minutes is where the story begins.

5 x 26 minute series association, these days known similarities are found with mitch torres, beck cole (w)

cordell jigsaw productions pty natalie bell (p); 26 minutes principal cast aaron pederson,

as ‘chicks with attitude’, is debbie carmody (d /w) a previous disappearance,

ltd (pc); michael cordell (p/w); melissa johnston (p); gary sweet, kelton pell

the bond that binds rural sales and distribution abc adrian wills (d/w); jack picks up the pursuit of

ashley smith (d/w); john doyle (w) sales and distribution daro, sbs

australia together. ffc participation $40,000 albert hartnett (w) both cases. ffc participation $1,840,000

sales and distribution abc

ffc participation $338,000 55 minutes sales and distribution abc

LOVE IS SUPPOSED TO BE SIMPLE ffc participation $40,000 AT THE GATES

purple pictures (pc); cheryl SOCIETY MURDERS

conway, carmel travers (p/d/w) Welcome to alice springs, Years ago, a baby was killed in

WEEPING WOMEN In april 2002, wealthy

ffc participation $150,000 the lesbian metropolis of a house fire after a robbery.

Weeping women provides a Adult television the parents used the tragedy melbourne socialite margaret

window into the world of australia, the place where wales-king and her husband

religious phenomena by

OOPS WRONG PLANET black and white mix and drama as a motivation to help others

In this semi-animated build a new evangelical paul king dined with family

telling the stories of those mingle in the lesbian BASTARD BOYS and then disappeared into

documentary, the filmmaker community. community church. alarm

affected – a sceptic, a statue’s is alarmed to discover he may On 7 april 1998 at 11.30pm bells ring when a match thin air. twenty-five days

owner, the seriously ill, have asperger’s syndrome, but 26 minutes security men invaded the emerges between the child’s later, after an investigation

and devoted believers then learns that it may be the rachel clements (ep); james that dominated the headlines,

bradley (p); sonja dare (d/w) docks of every port in death and some trace dna and

seeking guidance. key to creative genius. australia and forcibly fingerprints from a recent their bludgeoned bodies were

sales and distribution abc

55 minutes 55 minutes ffc participation $40,000 ejected the entire unionised major crime. found in a shallow bush

cm film productions (pc); ramsey films pty ltd (pc); jane workforce. bastard boys is grave. then margaret’s

carmelo musca (p/d); ramsey (p); stephen ramsey (d) the dramatic story of the GHOSTS youngest son, matthew, was

sarah rosetti (w) MY BROTHER VINNIE

ffc participation $200,000 1998 waterfront dispute. Nearly 20 years ago a young arrested for the murders and

sales and distribution This documentary observes

the seven network the relationship of the 4 x 60 minute series mother was shot during an his wife, maritza, was charged

ffc participation $158,116 writer, celebrated indigenous flying cabbage productions apparent kidnapping and with attempting to pervert

actor aaron pedersen and his pty ltd (pc); scott meek (ep); subsequent police chase. now, the course of justice.

ray quint, brett popplewell (p); after all that time, the man 90 minutes

brother vincent (vinnie) ray quint (d); sue smith (w)

pedersen. vinnie has cerebral in jail for the murder is screentime pty ltd (pc);

principal cast jack thompson, des monaghan, sue masters,

palsy and an intellectual colin friels, geoff morell about to be paroled. his

daughter has grown up justin bodle (ep); fiona eagger (p);

disability. aaron, 35, has been sales and distribution abc, greg haddrick (cop);

the principal carer for vinnie, abc content sales without a father. jack has brendan maher (d); kylie

34, since his early childhood. ffc participation $1,879,730 two missions – to bring the needham, greg haddrick (w)

father and daughter back principal cast georgie parker,

20 21





alex dimitriades, matthew kathryn drysdale, DOUBLE TROUBLE LOCKIE LEONARD

le nevez, daniela farinacci, paul mcgann, nicholas bell How twins, separated at Lockie leonard is based on

heather mitchell, asher keddie, sales and distribution granada birth, find themselves face- the award-winning novels

julia blake international, the ten network,

sales and distribution the ten channel five uk to-face, and how that meeting by booker-nominated author

network, screentime, powercorp ffc participation $2,880,000 changes their lives. following tim winton. set against a

ffc participation $847,797 their chance meeting yuma backdrop of great surf on the

TWO TWISTED and kyanna swap places, and spectacular south coast of

STEPFATHER OF THE BRIDE The worlds of the that’s when the fun really western australia, lockie

90 minute telemovie present, the future and starts. through them we leonard’s quick wit, physical

the supernatural are the explore their different humour, emotional depth and

A comedy about a modern

setting for the mystery cultures, the white and acute observation guarantees

wedding and a light-hearted

twisted.

series two twisted black, the city and bush, fresh new entertainment for

look at three generations of

traditions and modern- older children.

love and marriage. 14 x 26 minute series

a new town films production day thinking. 26 x 30 minute series

90 minutes essential viewing (pc);

essential viewing (pc); scott meek, (pc); bryan brown, helen watts, 13 x 30 minute series

karen radzyner (p); david caesar caama (pc); jo horsburgh, rosemary blight, jo horsburgh

rosemary blight (ep); ian collie, (ep); kylie du fresne (p);

kylie du fresne (p); roger hodgman (consult d); jodie dwyer, ron saunders, cilla collins (ep);

brendan donovan, tony d’aquino, terry jenning, rachel clements tony tilse, roger hodgman,

(d); geoffrey atherden (w)

nick parsons, jennifer kent, (p); wayne blair, richard wayne blair, peter templeman,

principal cast william mcinnes, james bogle (d); keith thompson,

noni hazelhurst, alex dimitriades, kate riedl, glendyn ivan, frankland (d); david ogilvy,

nick tomnay, graeme burfoot, mitch torres, danielle mclean, michael miller, shelley birse,

leon ford, lucy taylor david ogilvy, ken kelso,

sales and distribution abc, stuart mcdonald, kelly schilling, richard frankland, beck cole (w)

tim bullock, paul middleditch, principal cast cassandra glenn, matt ford, drew proffitt,

abc enterprises, sunday night leeanne innes (w)

movies, channel 4 international rachel ward (d); nick parsons, christine glenn, hyles pollard,

kelly schilling, david chidlow, lisa flanagan principal cast rhys muldoon,

ffc participation $871,260 sean keenan, briony williams,

michael adams, james robertson, sales and distribution the nine

tony d’aquino, michael brown, network, disney channel, actf corey mckernan

TO CATCH A KILLER peter ivan, michael gillett, ffc participation $1,287,000 sales and distribution the nine

In july 2001, in the dead of ian iveson, matthew macknamara, network, nickelodeon, jetix uk,

night 300 kms from alice everette de roche (w) idm, actf, sony pictures home

principal cast alex dimitriades, H2O – JUST ADD WATER entertainment, safc, screenwest

springs, a young woman lisa hensley, bill hunter, bryan When three normal teenage ffc participation $2,868,007

stumbled onto the stuart brown, tom long, lisa mccune, girls stumble upon an ancient

highway into the path of sam worthington, steve bisley, cavern they undergo a STREETSMARTZ 2

an oncoming road train. greta sacchi, vince colosimo, transformation that will

deborah mailman, sam neill Streetsmartz follows the

90 minutes sales and distribution the nine change their lives forever. story of vinnie, his family

gc films pty ltd (pc); network, southern star sales h2o – just add water sees and his mates on the one day

sue masters, andy harries, ffc participation $2,033,433 three very different girls

jeff pope (ep); matt carroll, of the week that kids call

spencer campbell (p); facing everyday teen problems their own – saturday.

tony tilse (d) with an added twist – they’re 13 x 30 minute series

principal cast bryan brown, Children’s mermaids with incredible great western entertainment

tom long, denise roberts, television drama powers over water. pty ltd (pc); jo horsburg (ep);

heather mitchell, john wood, paul barron (p); mark de freist,

joanne froggatt 26 x 30 minute mini-series

BLUE WATER HIGH II jonathan m. shiff productions steve peddie, ted mcqueen-

sales and distribution Six new teenage hopefuls mason, dave pretty and jenni

the ten network, itv, pty ltd (pc); jonathan m. shiff

arrive at the elite surf (ep/p); kay ben-m’rad (ep); colin wetters (d); coral drouyn,

granada international vanessa yardley, victor gentile,

ffc participation $1,815,334 school set in sydney’s budds (d); philip dalkin, anthony

morris, susan macgillicuddy, bryan mcqueen-mason and

northern beaches. at the claire bradshaw (w)

max dann, chris anastassiadis,

TRIPPING OVER end of the series, two of joanne watson, deb cox, sam principal cast david richardson,

Finding out where you belong them (one boy, one girl) will carroll, simon butters (w) rebecca mccarthy, joel turner,

be chosen for sponsorship principal cast claire holt, pia prendiville

can come as a surprise. it may sales and distribution

not be where you grew up on the world pro-surfing phoebe tonkin, cariba heine

sales and distribution the nine network,

or where you thought you circuit. fireworks international

the ten network, disney

belonged. you will trip over 26 x 30 minute series channel, zdf, zdf enterprises ffc participation $473,953

trying to find it and it might northside productions pty ltd ffc participation $3,945,119

not even be a place, but when (pc); noel price (ep/p), claire

henderson (ep); dennis kelly (p);

you get there… marcus cole, ralph strasser,

6 x 60 minute series chris martin-jones (d)

corner store films pty ltd (pc); principal cast lochie daddo,

andrew knight, mike bullen (ep); scott mcgregor, brooke

andrea denholm, sue seeary (p); callaghan, anh do,

sam miller, ian watson (d); adam saunders

andrew knight, sales and distribution abc,

andrea denholm (w) nickelodeon, ab droits,

principal cast alexandra moen, cattelya, southern star

abe forsythe, daniel macpherson, international

leon ockendon, rebecca gibney, ffc participation $3,218,022

22 23





LOOK BOTH WAYS THE OYSTER FARMER

Australian film

institute (afi) best editor, best original festival des antipodes, 18 AUGUST 2005 LOOK BOTH WAYS FOOTPRINT FILMS

screenplay, best actor in a lead winner audience prize,

awards 2005 role, best director, best film best new female talent –

HOLLY’S HEROES THREE DOLLARS

diana glenn

best children’s television drama best adapted screenplay

MARY BRYANT

Adult television drama

best telefeature or miniseries AWGIE awards 2005 MARY BRYANT 8 SEPTEMBER 2005 LITTLE FISH ICON FILM DISTRIBUTION

LAND MINES – A LOVE STORY HELL HAS HARBOUR VIEWS chicago international

best documentary best telemovie – adaption film festival, gold plaque

LITTLE FISH best miniseries, tv week logie

REMOTE AREA NURSE awards, most outstanding

best sound, best lead actor, television miniseries (episode 2)

best lead actress, best miniseries or telemovie

supporting actress, best editing

LOOK BOTH WAYS

APRA /AGSC screen

music awards 2005

Children’s 29 SEPTEMBER 2005 THE MAGICIAN HOPSCOTCH FILMS

best supporting actor, best television drama

film, best direction, best HELL HAS HARBOUR VIEWS

original screenplay HOLLY’S HEROES

best music for a miniseries 53rd columbus international

THREE DOLLARS or telemovie film & video festival,

best adapted screenplay SOMERSAULT bronze plaque



Inside film (if)

feature film score of the year BLUE WATER HIGH 3 NOVEMBER 2005 WOLF CREEK ROADSHOW DISTRIBUTORS

THE ALICE tv week logie awards, most

awards 2005 best original song composed outstanding children’s program

IN THE SHADOW OF THE PALMS for a feature film or tv drama STREETSMARTZ

independent spirit if award THE EXTRA acs regional awards,

LITTLE FISH best soundtrack album highly commended

box office achievement,

best sound, best actress – Cannes international Documentaries 10 NOVEMBER 2005 JOSH JARMAN INSTINCT ENTERTAINMENT

cate blanchett, best actor – film film festival

hugo weaving BREAKING BOWS AND ARROWS

TEN CANOES international festival of

LOOK BOTH WAYS oceania documentary,

best direction, best script, special jury prize

grand jury prize

best editing

Other awards

(feature films)

GIRL IN A MIRROR

rose d’or television festival,

20 APRIL 2006 KOKODA PALACE FILMS

Film critics circle arts and specials award

awards (fcca) 2005 LOOK BOTH WAYS sydney film festival,

GIRL IN A MIRROR asia-pacific film awards, dendy awards rouben

best australian short international critics’ award, mamoulian award

documentary brisbane international film REVEALING GALLIPOLI

festival, winner audience

LITTLE FISH vote, international film victorian premier’s literary

awards, screen writing

25 MAY 2006 CANDY DENDY FILMS

best actor in a supporting critics’ award (fipresci) for

role – sam neill, best actress an asia-pacific film, toronto WELCOME 2 MY DEAF WORLD

in a lead role, best actress international film festival, real life on film, most

in a supporting role discovery award popular documentary





29 JUNE 2006 TEN CANOES PALACE FILMS









awards films with a theatrical release

rewarding excellence from 1 july 2005 to 30 june 2006

24 25





Cumulative investments from 1988 / 1989 to 2005 / 2006 Adult television drama

Year of No. of Production FFC Non-ffc Non-ffc Year of No. of Production FFC Non-ffc Non-ffc

investments projects slate ($) investment ($) investment ($) investment (%) investments projects slate ($) investment ($) investment ($) investment (%)

1988/1989 4 19,789,660 6,780,000 13,009,660 65.7

1988/1989 34 69,021,178 38,934,579 30,086,599 43.6 1989/1990 11 53,894,756 29,193,233 24,701,523 45.8

1990/1991 6 29,948,450 17,125,926 12,822,524 42.8

1989/1990 57 179,956,214 78,423,725 101,532,489 56.4 1991/1992 3 18,428,526 7,327,364 11,101,162 60.2

1992/1993 8 32,674,542 16,855,065 15,819,477 48.4

1990/1991 41 136,365,628 64,053,389 72,312,239 53.0 1993/1994 5 31,007,961 17,815,533 13,192,428 42.5

1994/1995 6 24,445,216 14,072,334 10,372,882 42.4

1991/1992 51 113,487,600 65,333,689 48,153,911 42.4 1995/1996 7 26,517,370 12,740,055 13,777,315 52.0

1992 /1993 65 109,823,210 67,583,316 42,239,894 38.5 1996/1997 4 21,171,045 8,323,916 12,847,129 60.7

1997/1998 4 19,861,682 8,456,467 11,405,215 57.4

1993/1994 59 103,858,513 68,025,916 35,832,597 34.5 1998/1999 5 26,311,198 9,978,924 16,332,274 62.1

1999/2000 8 35,984,529 18,350,094 17,634,435 49.0

1994 /1995 63 119,078,549 70,517,086 48,561,463 40.8 2000/2001 3 13,126,262 5,813,540 7,312,722 55.7

2001/2002 6 18,195,651 9,774,092 8,421,559 46.3

1995/1996 62 142,703,888 72,522,143 70,181,745 49.2 2002/2003 6 24,553,718 11,873,881 12,679,837 51.6

2003/2004 8 34,253,075 16,958,783 17,294,292 50.5

1996/1997 54 90,005,407 49,880,465 40,124,942 44.6 2004/2005 8 54,330,897 16,330,891 38,000,006 69.9

1997/1998 58 128,674,593 69,169,040 59,505,553 46.2 2005/2006 9 47,786,689 15,877,815 31,908,874 66.8



1998/1999 55 108,309,251 53,075,685 55,233,566 51.0 Total 111 532,281,227 243,647,913 288,633,314 54.2

1999/2000 65 135,384,816 72,463,735 62,921,081 46.5

2000/2001 48 131,762,254 62,454,107 69,308,147 52.6 Children’s television drama

Year of No. of Production FFC Non-ffc Non-ffc

2001/2002 54 109,948,356 56,471,442 53,476,914 48.6 investments projects slate ($) investment ($) investment ($) investment (%)

2002 /2003 53 150,975,194 68,040,564 82,934,630 54.9

1988/1989 6 11,898,172 7,156,418 4,741,754 39.9

2003/2004 56 134,540,399 62,482,436 72,057,963 53.6 1989/1990 3 9,487,185 5,992,159 3,495,026 36.8

1990/1991 6 25,843,279 17,089,603 8,753,676 33.9

2004 / 2005 67 231,444,945 88,846,609 142,598,336 61.6 1991/1992 8 32,497,745 20,263,599 12,234,146 37.6

1992/1993 6 26,657,583 16,716,299 9,941,284 37.3

2005/2006 65 183,772,987 75,778,682 107,994,305 58.8 1993/1994 5 29,277,212 20,179,990 9,097,222 31.1

1994/1995 6 31,655,168 16,786,373 14,868,795 47.0

Total

otal 1,007 2,379,112,982 1,184,056,608 1,195,056,374 50.2 1995/1996 5 39,213,458 19,626,006 19,587,452 50.0

1996/1997 3 15,472,015 6,691,549 8,780,466 56.8

1997/1998 6 38,074,452 18,742,141 19,332,311 50.8

1998/1999 4 19,585,532 8,962,326 10,623,206 54.2

Feature films 1999/2000

2000/2001

3

4

20,016,945

29,722,147

9,338,291

15,298,355

10,678,654

14,423,792

53.3

48.5

Year of No. of Production FFC Non-ffc Non-ffc 2001/2002 5 32,551,300 15,992,657 16,558,643 50.9

investments projects slate ($) investment ($) investment ($) investment (%) 2002/2003 5 44,224,813 18,109,522 26,115,291 59.1

2003/2004 4 36,672,969 13,356,800 23,316,169 63.6

2004/2005 8 56,862,302 18,429,342 38,432,960 67.6

1988/1989 6 28,100,647 19,149,449 8,951,198 31.9 2005/2006 5 31,186,075 11,792,101 19,393,974 62.2

1989/1990 14 102,268,749 34,822,049 67,446,700 66.0

1990/1991 12 73,036,849 25,511,678 47,525,171 65.1 Total 92 530,898,352 260,523,531 270,374,821 50.9

1991/1992 13 50,165,277 29,961,778 20,203,499 40.3

1992/1993 13 38,626,884 25,433,040 13,193,844 34.2

1993/1994 9 27,769,492 19,820,967 7,948,525 28.6

1994 /1995 11 45,793,912 28,362,065 17,431,847 38.1 Documentaries

1995/1996 11 62,611,374 31,576,395 31,034,979 49.6 Year of No. of Production FFC Non-ffc Non-ffc

1996/1997 12 44,646,087 29,014,691 15,631,396 35.0

1997/1998 13 59,004,546 34,867,361 24,137,185 40.9 investments projects slate ($) investment ($) investment ($) investment (%)

1998/1999 11 46,268,389 26,295,065 19,973,324 43.2

1999/2000 13 62,407,084 35,505,658 26,901,426 43.1 1988/1989 18 9,232,699 5,848,712 3,383,987 36.7

2000/2001 10 75,086,966 33,739,446 41,347,520 55.1 1989/1990 29 14,305,524 8,416,284 5,889,240 41.2

2001/2002 10 46,025,286 23,136,645 22,888,641 49.7 1990/1991 17 7,537,050 4,326,182 3,210,868 42.6

2002/2003 11 65,108,110 29,137,010 35,971,100 55.2 1991/1992 27 12,396,052 7,780,948 4,615,104 37.2

2003/2004 10 46,245,800 22,719,117 23,526,683 50.9 1992/1993 38 11,864,201 8,578,912 3,285,289 27.7

2004/2005 14 103,746,345 45,545,357 58,200,988 56.1 1993/1994 40 15,803,848 10,209,426 5,594,422 35.4

2005/2006 17 83,126,131 38,758,071 44,368,060 53.4 1994/1995 40 17,184,253 11,296,314 5,887,939 34.3

1995/1996 39 14,361,686 8,579,687 5,781,999 40.3

1996/1997 35 8,716,260 5,850,309 2,865,951 32.9

Total 210 1,060,037,928 533,355,842 526,682,086 49.7 1997/1998 35 11,733,913 7,103,071 4,630,842 39.5

1998/1999 35 16,144,132 7,839,370 8,304,762 51.4

1999/2000 41 16,976,258 9,269,692 7,706,566 45.4

2000/2001 31 13,826,879 7,602,766 6,224,113 45.0

2001/2002 33 13,176,119 7,568,048 5,608,071 42.6

2002/2003 31 17,088,553 8,920,151 8,168,402 47.8

2003/2004 34 17,368,555 9,447,736 7,920,819 45.6

2004 /2005 37 16,505,401 8,541,019 7,964,382 48.3

2005/2006 34 21,674,092 9,350,695 12,323,397 56.9



Total 594 255,895,475 146,529,322 109,366,153 42.7

investment overview THREE FEATURE FILMS APPROVED FOR FUNDING IN 1998/99 WERE TERMINATED PRIOR TO CASHFLOW AND THESE FUNDS WERE REALLOCATED

TO THE FEATURE FILM SLATE IN 1999/00. EXCLUDED ARE PRODUCTION LOANS, PRINT AND ADVERTISING LOANS AND FILM FUND PROJECTS.

EXCLUDES LAPSED PROJECTS WAR CRIMES, RED RAIN, EMILY AND ATLANTA’S CHILD (A PROJECT THAT FOUND ALTERNATIVE FUNDING

CRIMES RAIN

AFTER APPROVAL). LARGE-FORMAT FILMS AND OFFICIAL CO-PRODUCTIONS ARE INCLUDED WITHIN EACH GENRE. ALL FIGURES ARE AT

cumulative and by genre 30 JUNE 2006 INCLUSIVE OF VARIATIONS TO PRIOR YEAR PROJECTS.

26 27





This statement outlines the DIRECTOR EDUCATION in an executive capacity • reviewing the assessing, monitoring and report for the financial

main corporate governance The corporation has a formal by the corporation corporation’s policies managing operational, year ended 30 june 2006 are

practices in place throughout process to educate new directors • has not been a principal or and procedures for financial reporting and included in note 23 to the

the financial year. about the nature of the employee of a professional convergence with compliance risks. financial statements.

business, current issues and adviser, or a consultant to australian equivalents to

corporate strategy. directors international financial

Board of directors the corporation reporting standards (aifrs) RISK PROFILE ETHICAL STANDARDS

also have the opportunity to • has no contractual Comprehensive practices have All directors, managers and

ROLE OF THE DIRECTORS meet with management to • monitoring compliance been established to ensure: employees are expected to act

relationship with the with the corporation’s

The primary role of the board gain a better understanding corporation other than as a with integrity and objectivity,

is the achievement of the fraud control plan and • board approval (above

of business operations. director of the corporation delegated authority) of to enhance the reputation

corporation’s policy objectives. monitoring appropriate

rectification of any all film and television and performance of the

the board is responsible for ACCESS TO CORPORATION AUDIT COMMITTEE investments and variations corporation. every employee

the corporate governance of deficiencies or breakdowns

INFORMATION The audit committee has a identified has a nominated supervisor to

the corporation including • occupational health and

Each director has the right documented charter, approved • monitoring procedures to safety standards and whom they may refer any issues

implementing its strategic of access to all relevant by the board. the chairperson arising from their employment.

direction, approving and ensure compliance with management systems are

corporation information of the audit committee may the corporations act 2001 monitored and performance

monitoring capital expenditure, and corporation executives. not be the chairperson of the reviewed CONFLICT OF INTEREST

setting remuneration, and other regulatory

this process is formalised in a board. the committee advises requirements • business transactions are Directors and senior

establishing and monitoring written protocol. the advice

the achievement of on the establishment and • addressing any material properly authorised and management must keep the

management’s goals, and received by the director is maintenance of a framework matters outstanding with executed board advised of any interest

ensuring the integrity of made available to other of internal control for the auditors, australian • the quality and integrity that could potentially conflict

internal control and members of the board. management of the corporation. taxation office and the of personnel with those of the corporation.

the members of the audit australian securities and the board has developed

management information investments commission • financial reporting is

systems. it is also responsible COMPOSITION OF THE BOARD committee during the year were: procedures to assist directors

accurate and compliant

for approving and monitoring The names of the directors of mr p oneile • making recommendations to with the regulatory

and senior management to

financial and other reporting. the corporation in office at appointed as chairman 1 july 2005 the board on remuneration framework disclose potential conflicts

the board has delegated the date of this report are set packages and policies of interest. where the board

out in the directors’ report mr p davey applicable to the executive QUALITY AND INTEGRITY believes a conflict exists for

responsibility for operation appointed 1 july 2005 officers and directors of

and administration of the on page five of this report. OF PERSONNEL a director on a board matter,

board members are appointed mr g vickery the corporation Appraisals are conducted at the director concerned does

corporation to the chief

executive officer and by the minister for the arts retired 10 august 2005 The audit committee reviews least annually for employees. not receive the relevant

executive management. and sport. composition of the mr a walton the performance of the external training, development and board papers and is not present

board is determined using appointed 9 february 2006 auditors on an annual basis appropriate remuneration whilst the item is considered.

BOARD PROCESSES the following principles: and normally meets with and incentives with regular details of director related

The external auditors, the performance reviews create entity transactions are set

The board has established • a minimum of three and a them during the year to:

chief executive officer and an environment of co- out in note 15.

a framework for management maximum of nine directors, chief commercial officer • discuss the external operation with employees

of the corporation including with a broad range of are invited to audit committee audit plan, identify any

a system of internal control, expertise, all board members significant changes in and senior management. AUDIT

are independent non- meetings at the discretion of The board has requested the

a business risk management the committee. the committee structure, operations,

process and the establishment executive directors internal controls or FINANCIAL REPORTING independent external auditor

met five times during the accounting policies likely The chief executive officer to undertake, in addition to

of appropriate ethical standards. • a number of directors have year and committee members’

the board has also established extensive knowledge of the to impact on financial and the chief commercial the audit of the financial

attendance record is disclosed statements and review officer have declared to the statements, an additional

an audit committee. the film and television industry in the table of directors’

agenda for meetings is as producers the fees proposed for the board that the corporation’s assurance audit to assess

meetings. audit work to be performed financial reports are founded whether the company’s

prepared in conjunction with • a non-executive independent

the chairperson, chief executive • review the draft annual on a sound system of risk accounting and administrative

director is appointed as The responsibilities of the management, internal

officer and company secretary. chairperson financial report and procedures and processes are

audit committee include: recommend board approval compliance and control,

standing items include the operating effectively and

chief executive officer’s An independent director • reviewing the of the financial report which implements the policies transactions are appropriately

report, financial reports, is a director who is not a annual report • review the results and adopted by the board and authorised and recorded

funding approvals, strategic member of management (a non- • assessing corporate risk findings of the auditor, that there are in place completely, accurately and

matters, governance and executive director) and who: management processes the adequacy of accounting appropriate fraud control reliably for the production

compliance. submissions are • has not within the last and financial controls and mechanisms that meet attorney of financial statements. this

circulated in advance. three years, been employed monitor the implementation general guidelines. monthly additional assurance audit,

of recommendations made actual results are reported

against budgets approved by which has the limitations of

directors and revised forecasts audit sampling techniques, is

Risk management for the year prepared regularly. over and above that required

convergance with australian to form an opinion on the

OVERSIGHT OF THE RISK financial statements.

equivalents to aifrs has been

MANAGEMENT SYSTEM a key financial reporting

The board oversees the project during the financial ENVIRONMENTAL REGULATION

establishment, implementation year ended 30 june 2006. The company’s operations are

and review of the corporation’s details of the impact not subject to any significant

corporate governance risk management system.

management has established

of transition from previous

australian generally accepted

environmental regulations

under either commonwealth

and implemented the risk accounting principles (agaap) or state legislation.

outlining practice and process management system for to aifrs on the financial

28 29





financial report

FFC BOARD OF DIRECTORS

for the year ended 30 june 2006



CEO BRIAN ROSEN









CHIEF COMMERCIAL OFFICER

COMPANY SECRETARY 30

ROSS PEARSON

DIRECTORS’ REPORT



RECOUPMENT BUSINESS AFFAIRS SENIOR EVALUATION

POLICY

MANAGER MANAGER INVESTMENT MANAGERS 32

MANAGER

DORIS COMPANY SECRETARY MANAGER TAIT BRADY*

MARY ANNE REID

PETREVCIC* KEITH LUPTON ROSS MATTHEWS* BRIDGET IKIN

INCOME STATEMENT



INVESTMENT

MANAGERS 33

JULIA OVERTON

ACCOUNTANT

KEITH BULLOCK

LEGAL MANAGERS

MARK BROOMHEAD*

CHRIS OLIVER

DEBORAH ZIPSER

BALANCE SHEET

MADELEINE ENFIELD

CHRISTINE NEWMAN

REBECCA HARDMAN





INFORMATION 34

SERVICES MANAGER PROJECT

STEVE MARKS MANAGERS

LINDSAY LIPSON*

STATEMENT OF CASH FLOWS

SENIOR RECOUPMENT LISA SCOTT

ANALYST

POLICY &

SUSIE GATES

PR ASSISTANT

KAROLINA LIPIEC

BA

CO-ORDINATOR 35

OFFICE RECOUPMENT ANALYSTS HELEN CANHAM

ADMINISTRATOR

KYM YAM

GEORGIA BRITTON

ELIZABETH NEWMAN

NOTES TO THE FINANCIAL STATEMENTS

BERNADETTE RHEINBERGER



BA/LEGAL

ASSISTANTS

JACQUE RYAN

RECOUPMENT MARION GOLDRICK ASSISTANTS

OFFICE ASSISTANT STEPHANIE DOW* 50

ADMINISTRATOR

ANNA HALE KAREN DESS

RECEPTIONIST

SALLY PICKERING

MARGARET McCLELLAND

MICHELE McDONALD

DIRECTORS’ DECLARATION

PETA JEFFERY





*MELBOURNE





51

organisation overview AUDITOR’S REPORT TO MEMBERS

staff for the year ended 30 june 2006

30 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 31





Dividends Indemnification and

directors’ report insurance of officers

No dividend has been paid or

declared during the year.

and auditors

for the year ended 30 june 2006

Since the end of the previous

Likely developments financial year, the company

and results paid a premium in relation

to a contract insuring the

The likely developments in directors and officers of the

the operation of the company company against a liability

subsequent to the year arising from their duties as

The directors present their Company secretaries is a non-cash item. but for ended 30 june 2006 are set directors and officers, other

report together with the this reduction in value out in the chairman’s letter than for conduct involving

The company has two the operating loss for the a wilful breach of duty in

financial report for the year on page one and in the chief

company secretaries. company for the year would relation to the company.

ended 30 june 2006 and the executive’s report on pages

auditor’s report thereon. have been an operating two and three of the annual

Ross pearson ba, fcpa, aicd The company has not

profit of $6,217,237. report. future operations

was appointed as a company otherwise, during or

secretary in november 2004. and operating results since the financial year,

Directors The company is exempt from will be substantially

mr pearson is a fellow of cpa income tax under division 50 indemnified or agreed to

dependent on the level of indemnify an officer or

The directors of the company australia and has 16 years of the income tax assessment continued commonwealth

experience as company auditor of the company

at any time during or since act 1997. government support.

secretary for major against a liability incurred

the end of the financial as such an auditor or officer.

year are: corporates including 10

years as company secretary Review of operations Meetings of directors

Directors in office at the for listed public companies. Auditor’s

date of this report: A review of operations is The number of meetings of

contained in the report directors and attendances independence

Keith m lupton ba, llb, llm,

graham bradley chairman

phd was appointed as business

set out on pages 6 to 12. at those meetings are set out declaration

anthony buckley am affairs manager and company in notes to the financial

statements – note 15.b. The auditor’s independence

paul oneile secretary in 1995. Significant changes declaration is set out on

in state of affairs page 52 and forms part of

peter davey Directors’ benefits the directors’ report for

Principal activities There were no significant

alastair walton the financial year ended

The principal activities of changes in the state of No director has received or 30 june 2006.

appointed 19 july 2005 affairs of the company become entitled to receive,

the company during the year during or since the financial

paul dainty were to provide funding during the financial year. Signed at sydney this

appointed 11 august 2005 year, any benefit because 14th day of september 2006

support for qualifying of a contract made by the

australian film and in accordance with a

sandra gross After balance company with the director, resolution of the directors.

appointed 18 october 2005 television productions. date events a firm of which the director

there were no significant is a member, or an entity in

Directors whose term changes in the nature of No matters or circumstances which the director has a

ended during or since the these activities during the have arisen since the end of substantial financial

financial year: financial year. the financial year which interest, other than in Graham bradley

significantly affected or respect of: chairman

Jan chapman ao

term ended 10 august 2005 may significantly affect the a. during the financial year,

Operating result company’s operations, the benefits arising under the

Jonathan shiff The net loss of the company results of those operations, contracted transactions

for the year ended 30 june or the company’s state of detailed in note 15.c to

term ended 10 august 2005 the financial statements

2006 was $1,399,151 (2005 loss affairs in financial years

subsequent to 30 june 2006. (director and director-

Greg vickery am – $12,886,941). this is after related transactions).

term ended 10 august 2005 recognising as revenue a

commonwealth grant of b. since the financial year up

$70.5 million (2005 – $65.5

Environmental to the date of this report

Particulars of directors’ regulation there are no benefits

qualifications, experience, million) and a non-cash arising under contracted

period of appointment and reduction in the historical The company’s operations transactions.

carrying values of film and are not subject to any

special responsibilities are television investments of This statement of directors’

significant environmental

contained in a section prior years of $7,616,388 regulations under either benefits excludes

‘board of directors’ on page (2005 – $12,416,481). the commonwealth or state remuneration benefits

five of the annual report. reduction in the value legislation. included in note 15.a to

of prior years’ investments the financial statements

(directors’ remuneration).

32 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 33







income statement balance sheet

for the year ended 30 june 2006 as at 30 june 2006







2006 ($) 2005 ($) 2006 ($) 2005 ($)



Income Current assets

revenue cash note 3 152,734 383,031

commonwealth grant 70,500,000 65,500,000 committed funds note 4 7,000,000 950,000

interest income 2,311,059 1,841,041 receivables note 5 2,661,245 6,778,914

application and administration fees 2,344,911 2,256,525 film investments note 6 285,808 431,145

film investment profits note 2.b 1,026,267 1,685,423 other note 8 10,279 34,872

Total revenue 76,182,237 71,282,989 Total current assets 10,110,066 8,577,962



Other income

net gain on disposal of plant and equipment note 2.c - 2,037 Non-current assets

Total income 76,182,237 71,285,026 film investments note 6 31,047,771 33,836,706

plant and equipment note 9 882,381 1,050,654

committed funds note 4 4,096,604 3,876,972

Expenses Total non-current assets 36,026,756 38,764,332

impairments of film investments note 2 70,815,093 77,701,323

employee and related expenses 3,777,846 3,660,950 Total assets 46,136,822 47,342,294

legal, audit and other professional services note 2 381,034 431,269

property rentals and related expenses note 2 408,867 391,643

depreciation and amortisation expenses note 2 203,376 197,401 Current Liabilities

net loss on disposal of plant and equipment note 2.c 60 -

accounts payable note 10 543,419 568,950

other expenses 1,995,112 1,789,381

provisions note 11 623,753 633,705

Total expenses 77,581,388 84,171,967 leasing incentive note 12 67,555 67,555



Net (loss) for the year (1,399,151) (12,886,941) Total current liabilities 1,234,727 1,270,210



Net (loss) attributable to members of the company note 13 (1,399,151) (12,886,941)

Non-current liabilities

provisions note 11 252,736 175,661

leasing incentive note 12 399,702 467,247

distribution guarantee note 4 4,096,604 3,876,972

Total non-current liabilities 4,749,042 4,519,880



Total liabilities 5,983,769 5,790,090

statement of recognised income & expense

Net assets 40,153,053 41,552,204

for the year ended 30 june 2006

Equity

2006 ($) 2005 ($)

contributed equity note 13 5 5

Net (loss) for the year note 13 (1,399,151

1,399,151) (12,886,941

12,886,941) reserves note 13 40,153,048 41,552,199

Total equity 40,153,053 41,552,204

Total recognised income and expense for the year

attributable to members of the company note 13 (1,399,151

1,399,151) (12,886,941

12,886,941) the accompanying notes on pages 35 to 49 form part of these financial statements.

the accompanying notes on pages 35 to 49 form part of these financial statements.

34 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 35







statement of cash flows notes to the financial statements

for the year ended 30 june 2006 for the year ended 30 june 2006







2006 ($) 2005 ($)



Cash flows from operating activities 1. Statement this report. the company has receipt of amounts

of significant elected to early adopt the after recoupment of the

commonwealth grant received 70,500,000 65,500,000 accounting standard aasb 119 investment and on the

interest received 2,309,373 1,819,503 accounting ‘employee benefits’. director valuation of

film investment profits received 2,204,124 366,468 policies and basis projects already in profit

gst collected from customers 451,260 914,881 of preparation the financial report has been

net gst refunded by australian taxation office 7,251,979 6,403,695 prepared on an accruals basis (note 1.j).

other operating revenue receipts 2,455,034 2,016,741 The financial report is a and is based on historical All revenue is stated net of

general purpose financial costs and does not take into

Total cash receipts in the course of operations 85,171,770 77,021,288 the amount of goods and

report which has been account changing money

values or, except where services tax (gst).

prepared in accordance

gst paid to suppliers (7,703,239) (7,205,272) with australian accounting stated, current valuations of

.B

1.B Income tax

other payments to suppliers and employees (6,262,844) (5,878,337) standards, urgent issues non-current assets. cost is

based on the fair values of The principles of tax effect

Total cash payments in the course of operations (13,966,083) (13,083,609) group interpretations, accounting as set out in

other authoritative the consideration given in

exchange for assets. accounting standard aasb 112

Net cash provided by operating activities note 22.b 71,205,687 63,937,679 pronouncements of the

do not apply as the company is

australian accounting Significant judgements

standards board and the exempt from income tax under

made in the application of division 50 of the income tax

Cash flows from investing activities corporations act 2001. the accounting policies that

assessment act 1997.

loan repayments received - 4,111 the financial report covers have the most significant

film investments recouped and underages 7,342,225 11,915,316 film finance corporation effect on the amounts .C

1.C Fixed assets

film investment underwriting recovered 2,530,000 - australia limited, a public recognised in the financial Plant and equipment are

company, incorporated and report are disclosed where

brought to account at

9,872,225 11,919,427 domiciled in australia. applicable in the relevant

historical cost, less any

notes to the financial

the financial report of statements. accumulated depreciation

loan advances paid - (194,000) film finance corporation or amortisation. the

film investments paid (75,003,414) (75,543,939) Set out below is a summary of depreciation or amortisation,

australia limited complies

film investment underwriting paid - (2,530,000) the significant accounting on a straight line basis, is

with all australian

term deposit for distribution guarantee (219,632) (3,876,972) policies adopted by the over the estimated useful

equivalents to international

(75,223,046) (82,144,911) financial reporting standards company in the preparation life to the company of each

(aifrs) in their entirety. of this financial report. asset commencing from

Net loans and investments (65,350,821) (70,225,484) in accordance with aasb 1 the accounting policies have the time the asset is held

‘first-time adoption of been consistently applied. ready for use. leasehold

payments for plant and equipment (35,208) (485,382) australian equivalents to improvements are amortised

international financial .A

1.A Revenue recognition over the unexpired portion

proceeds from sale of plant and equipment 45 17,400 (i) commonwealth grant

reporting standards’, of the lease or estimated

revenue is recognised as

Net plant and equipment (35,163) (467,982) adjustments to the useful life of improvements,

revenue in the year in

accounts resulting from the whichever is shorter. the

Net cash used in investing activities (65,385,984) (70,693,466) which it is received;

introduction of aifrs have carrying amount of plant

been applied retrospectively (ii) interest income is and equipment is stated at

net increase / (decrease) in cash held (6,755,787) to 2006 comparative figures. recognised as it accrues;

5,819,703 cost less accumulated

cash at the beginning of the financial year 1,333,031 8,088,818 these accounts are the first (iii) application and depreciation and impairment

financial statements of administration fees are losses (see note 1.m).

Cash at the end of the financial year note 22.a 7,152,734 1,333,031 film finance corporation recognised primarily at the

commencement of cash flow The recoverable amount

the accompanying notes on pages 35 to 49 form part of these financial statements. australia limited to be

investment payments to is assessed on the basis of

prepared in accordance with

australian equivalents to film projects, or in certain expected net cash flows

ifrs. reconciliations of the specific instances on issue which will be received

transition from previous of invoice; and from the assets employed

australian gaap to aifrs have (iv) film investment profits and subsequent disposal.

been included in note 23 to are recognised on cash

36 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 37





The gain or loss on disposal national government bonds .G

1.G Operating leases asset is reduced through at year end without

of all fixed assets is on reporting date which most Lease payments under the use of an impairment preconditions and not fully

determined as the difference closely match the terms operating leases, where allowance account. the drawndown are taken up in

between the carrying amount of maturity of the related substantially all the risks amount is recognised in the accounts as a debt for

of the asset at the time of liabilities. the unwinding and benefits remain with profit or loss. the amount not drawndown

disposal and the proceeds of of the discount is treated as the lessor, are charged as (note 10).

disposal, and is included in long service leave expense. If, in a subsequent period,

expenses over the accounting Film projects contracted at

the operating result in the the amount of the impairment

(iv) Superannuation periods in which they are year end, with preconditions

year of disposal. loss decreases and the

All employees join the incurred. existing and/or film projects

decrease can be related

The depreciation rates used company’s non-contributory objectively to an event approved and awaiting to be

.H

1.H Goods and services tax

for each class of depreciable employer accumulation / occurring after the contracted are treated as

assets are: defined contribution fund Revenues, expenses and assets film financing commitments

impairment was recognised,

which is administered by an are recognised net of the (note 14.b).

such as film sales, the

Computers, video external manager or a fund amount of goods and services

previously recognised

33%

and office equipment 33% pa of their choice. the company’s tax (gst), except where the .M

1 .M Impairment of assets

impairment loss is reversed

fund provides lump sum amount of gst incurred is The carrying amounts of

Motor vehicles 15%

15% pa by adjusting the impairment

benefits on retirement, not recoverable from the assets are reviewed annually

allowance account. the

Office furniture resignation, death or australian taxation to determine whether there

amount of the reversal is

and fittings 20% pa

20% disablement. office (ato). is any indication that the

recognised in profit or loss.

Leasehold improvements In these circumstances the assets have suffered any

The company contributes 1 .J Film investment at

.J impairment loss.

are amortised over varying amounts for each gst is recognised as part of

the unexpired period the cost of acquisition of directors’ valuation

member subject to a minimum

of the lease 10% to 21% pa

10% 21% percentage of salary equal the asset or as part of 2006 – $142,880 (2005 –

to the superannuation the expense. $1,320,737). in 2006, the

1.D Employee benefits

.D guarantee charge percentage. directors have valued four

Receivables and payables are projects (2005 – five projects)

(i) Salaries and annual leave contributions on behalf of stated with the amount of which are in profit (cost

liabilities for salaries and employees by the company

annual leave expected to be the gst included. fully recouped) at $142,880

are charged as expenses when

settled within 12 months incurred. the company is The net amount of gst based on estimated virtually

of the year-end represent under no obligation to recoverable from the ato is certain returns to the

present obligations resulting make up any shortfall in included as a current asset company from confirmed

from employees’ services the fund’s assets to meet in the balance sheet. sales prior to the financial

provided to reporting date, payments due to employees. year end.

calculated at undiscounted Cash flows are included in

amounts based on salary 1 .E Allowance for

.E the statement of cash flows .K

1.K Derecognition of

rates that the company doubtful debts on a gross basis. financial liabilities

expects to pay as at reporting The collectibility of debts Where the company has

The gst components of cash extinguished liabilities

date including related is assessed at year end and flows arising from investing

on-costs. allowance is made for any through defeasance the

and financing activities requirements of aasb 139

specific doubtful accounts. which are recoverable from,

(ii) Sick leave are adopted.

No provision has been made or payable to, the ato are

.F

1 .F Foreign currency

for sick leave as all sick classified as operating Where assets are given up

All foreign currency cash flows. to extinguish the principal

leave is non-vesting and the transactions are translated

average sick leave taken by and all future interest of a

to australian currency .I

1.I Film investments debt, any differences in the

employees is less than the at the rate of exchange

annual entitlement for impairment losses carrying values of assets

applicable at the dates of Film investments are carried foregone and the liability

sick leave. the transactions. amounts at unrecouped cost less extinguished are brought to

(iii) Long service leave receivable and payable in amounts written off. due to account in the profit and

The provision for employee foreign currencies are the financial risk profile loss for the period that the

benefits for long service translated at the rates of film investment and the defeasance occurs.

leave represents the present of exchange ruling at

historic revenue performance

value of the estimated future balance date. In all cases when defeasance

generally of films, losses on

cash outflows to be made film investments may occur. occurs, it is highly unlikely

Gains and losses arising on

resulting from employees’ transactions are recognised that the company will again

services provided to Where there is objective be required to pay any part

in the result for the year.

reporting date. the provision evidence that an impairment of the debt or meet any

exchange differences arising

is calculated using expected on hedged transactions, if loss has been incurred, guarantees or indemnities

future increases in salary any, undertaken to hedge the amount of the loss is associated with the debt.

rates including related on- foreign currency exposures measured as the difference

costs and expected between the film asset’s .L

1.L Debt or commitment

are brought to account in

settlement dates based on the income statement when carrying amount and the Film projects contracted

experience with employee the exchange rates change. present value of estimated at year end and drawndown

departures and is discounted future cash flows. the are treated as an investment.

using the rates attaching to carrying amount of the film film projects contracted

38 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 39





2006 ($) 2005 ($) 2006 ($) 2005 ($)



2. Profit/Loss additional disclosures 5. Receivables

Profit/loss has been arrived at after charging current

the following items: gst refund from australian taxation office 2,225,330 2,554,284

film investment underwriting - 2,530,000

impairment losses on film investments note 6, 1.i and 2.a 70,815,093 77,701,323 director valuation of profit projects note 1.j 142,880 1,320,737

net expense from movements in provision sundry receivables 293,035 373,893

for employee and related expenses note 1.d 55,086 881

depreciation and amortisation by class of asset note 1.c 2,661,245 6,778,914

depreciation of computers, office and video equipment 77,173 70,450

depreciation of motor vehicles 2,980 6,556

depreciation of office furniture and fittings 6,199 3,879

amortisation of leasehold improvements 117,024 116,516 6. Film investments

legal, audit and other professional services include: current

auditors’ remuneration for audit services 43,000 42,000 loans

operating lease expenses for principal and interest b / f from previous year 489,345 299,456

premises and office equipment note 12, 14 379,439 363,096 add: principal and interest – current year - 194,000

less: repayments - 4,111

2.a the amount expensed as impairment losses 489,345 489,345

on film investments is made up of (note 1.i): Less: allowance for impairment loss note 1.i 203,537 58,200

impairment losses on current year projects 63,198,705 65,284,842

impairment losses on prior year projects 7,616,388 12,416,481 Total current film investments 285,808 431,145

Total impairment losses on film investments

included in loss for the year 70,815,093 77,701,323 non-current

equity film investments

2.b film investment profits received 2,204,124 366,468

brought forward from previous year 238,693,603 223,081,707

add: profit on film investments receivable arising add: investments during the year 75,223,046 79,420,911

from directors’ valuation – current year note 1.j 142,880 1,320,737

less: recoupments and underages during the year 7,342,225 11,915,316

less: profit on film investments receivable arising less: net amounts written off and written

from directors’ valuation – prior year note 1.j 1,320,737 1,782

back during the year 17,263,868 51,893,699

289,310,556 238,693,603

Total profit on film investments

included in loss for the year 1,026,267 1,685,423 Less: allowance for impairment loss note 1.i 258,262,785 204,856,897



Total non-current film investments 31,047,771 33,836,706

2.c disposal of plant and equipment

proceeds 45 17,400 Total film investments 31,333,579 34,267,851

less: carrying amount 105 15,363

(Loss) / Profit included in loss for the year (60) 2,037 reconciliation – allowance for

impairment loss, loans and investments

allowance for impairment loss brought forward

3. Cash from previous year 204,915,097 179,107,473

less: amounts written off during the year 19,110,502 53,545,851

cash at bank 151,530 381,888 add: write back of amounts previously written off 1,846,634 1,652,152

cash on hand 1,204 1,143 add: current year charged to profit and loss 70,815,093 77,701,323

152,734 383,031 Allowance for impairment loss carried forward at year end 258,466,322 204,915,097







4. Committed funds

current

bank certificate of deposit (2005 bank accepted commercial bills)

were purchased to fund commitments to projects not contracted

at financial year end. see note 14.b for details 7,000,000 950,000



non-current

a term deposit was deposited with a bank which together with

accumulating interest is to fund a commitment to a distribution

guarantee payable in 2011 to investors in a film project and recorded

as a non-current liability-distribution guarantee 4,096,604 3,876,972

40 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 41





2006 ($) 2005 ($) 2006 ($) 2005 ($)



7. Set-off and extinguishment of debt 10. Accounts payable

The company at 30 june 2006 (and 2005) had, with others, trade accounts payable 68,381 51,182

entered into production and investment agreements with other payables and accrued expenses 475,038 517,768

producers. the company’s liability under these agreements

was extinguished by defeasance whereby the company lodged 543,419 568,950

sufficient funds with a trustee to service the debts.

i. aggregate carrying amount of assets given up 11. Provisions and employee benefits

during the year for the purpose of defeasance 12,757,827 16,135,643

Provisions

ii. aggregate amount of the debt extinguished current

during the year by defeasance 12,757,827 16,135,643 provision for employee benefits note 1.d 623,753 633,705



iii. net gain or loss on defeasance included in profit and loss - - non-current

provision for employee benefits note 1.d 83,358 18,320

iv. outstanding defeased debt amounts 15,310,700 16,876,590

provision for make good leased premises 169,378 157,341

the company continues to earn interest on the defeased funds at money market rates until the debts 252,736 175,661

are paid by the trustee to the production companies.



8. Other assets Make good provision

The company’s leased premises are required to be returned

to the lessor in original condition. the provision for

Prepayments 10,279 34,872 make good is measured at the present value of the expected

cost of refurbishment as at each reporting date.

Employee benefits

9. Plant and Equipment note 1.c

current

computer equipment - at cost 224,512 226,432 included in – other payables and accrued expenses note 10 202,418 167,486

less accumulated depreciation 179,265 138,995 included in – provision for employee benefits note 11 623,753 633,705

Written down value 45,247 87,437 non-current

included in – provision for employee benefits note 11 83,358 18,320

leasehold improvements - at cost 1,228,714 1,228,714

less accumulated amortisation 464,150 347,126 Aggregate liability for employee benefits including on-costs 909,529 819,511



Written down value 764,564 881,588



motor vehicle – at cost 19,864 19,864 12. Leasing incentive liability

less accumulated depreciation 8,939 5,959 The lease incentive of a rent-free period is recognised as a liability.

Written down value 10,925 13,905 rental payments which commenced in june 2005 are allocated

between rental expense and a reduction of the liability on a

straight line basis over the remainder of the lease to june 2013.

office equipment – at cost 134,021 129,165

less accumulated depreciation 127,949 126,233 current 67,555 67,555

non-currrent 399,702 467,247

Written down value 6,072 2,932

Total lease incentive liability 467,257 534,802

office furniture and fittings – at cost 457,494 455,499

less accumulated depreciation 445,305 442,584

Written down value 12,189 12,915 13. Capital and reserves

video equipment – at cost 114,551 92,301

Reconciliation of movement in capital and reserves attributable

less accumulated depreciation 71,167 40,424 to members of the company.

share capital retained profits general reserve total equity

Written down value 43,384 51,877 balance at 1 july 2004 5 - 54,439,140 54,439,145

total recognised income and expense - (12,886,941) - (12,886,941)

Total written down value 882,381 1,050,654 transfer from general reserve - 12,886,941 (12,886,941) -

Balance at 30 june 2005 5 - 41,552,199 41,552,204

reconciliation of plant and equipment

carrying amount at beginning of year 1,050,654 1,070,043

balance at 1 july 2005 5 - 41,552,199 41,552,204

total recognised income and expense - (1,399,151) - (1,399,151)

additions at cost 35,208 193,375

transfer from general reserve - 1,399,151 (1,399,151) -

disposals at cost (8,027) (115,538)

depreciation adjustment on disposals 7,922 100,175 Balance at 30 june 2006 5 - 40,153,048 40,153,053

amortisation and depreciation expense (203,376) (197,401)

nature and purpose of general reserve. the amount standing to the credit of general reserve resulted

Carrying amount at end of year 882,381 1,050,654 from prior period allocations of retained profits for non-specific purposes and is currently being

released to retained profits when the result for the year is a loss.

42 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 43





2006 ($) 2005 ($) 2006 ($) 2005 ($)



14. Commitments 15. Remuneration of directors, and director

Expenditure commitments and director-related transactions and other

14.a operating lease commitments director disclosures

Non-cancellable future operating lease rentals of premises and office 15.a directors’ remuneration

equipment not provided for in the financial statements and payable: Total income paid or payable, or otherwise made available, to all

within one year 447,748 444,213 directors of the company from the company or any related party. 191,991 211,277

one year or later and no later than five years 1,617,850 1,686,053

later than five years 708,262 1,077,790 The number of directors whose income from the company or any

goods and services tax. some of these commitments 277,386 320,806 related party falls within the following bands :

will be taxable acquisitions on which gst will be payable

(corresponding input tax credits will be claimable) Band ($) 2006 2005



3,051,246 3,528,862 $0 to $9,999 3 0

$10,000 to $19,999 1 0

14.b film financing commitments note 1.l $20,000 to $29,999 5 7

The company has entered into various film financing $40,000 to $49,999 1 1

commitments as an investor, jointly or otherwise in the Total 10 8

normal course of business.

Approved projects contracted but not yet Directors’ remuneration represents directors’ fees at rates determined by the remuneration

drawdown due to preconditions: tribunal. also included are:

the perfect smile $208,000 • amounts paid to a prescribed superannuation fund for the provision of retirement

first australians series $1,180,000 benefits for directors at rates established by the superannuation guarantee charge:

hey hey it’s esther blueburger $2,487,143 2006 – $14,637 (2005 – $16,291); and

$9.99 $2,344,709

death defying acts $5,000,000 11,294,152 9,169,191 • insurance premiums in relation to a contract insuring the directors of the company

against a liability arising from their duties as directors

Approved projects not yet contracted:

15.b meetings of directors

the tender hook $3,990,000 The board met on nine occasions during the year. of seven scheduled meetings five took

irresistible p&a loan $400,000 place in sydney, one in brisbane and one in canberra. two special meetings were held by

kokoda loan $43,000 teleconference and email. the audit committee met on five occasions. the number of

variations to projects $134,351 4,567,351 1,316,477 directors’ meetings attended by each of the directors during the financial year were:

Goods and services tax. these commitments to projects

will be taxable acquisitions on which gst will be payable scheduled special audit committee

(corresponding input tax credits will be claimable). 1,586,150 1,048,567 meetings meetings meetings

director (a) (e) (a) (e) (a) (e)

Payable within one year 17,447,653 11,534,235

Graham bradley chairman 7 7 2 2 - -

Total expenditure commitments 20,498,899 15,063,097 Anthony buckley am 7 7 2 2 - -

Paul oneile 6 7 2 2 5 5

Peter davey 7 7 1 1 5 5

Alastair walton appointed 19 july 2005 6 7 1 1 2 2

Paul dainty appointed 11 august 2005 4 6 1 1 - -

Sandra gross appointed 18 october 2005 4 5 1 1 - -

Greg vickery am term expired 10 august 2005 1 1 1 1 1 1

Jan chapman ao term expired 10 august 2005 1 1 - - - -

Jonathan shiff term expired 10 august 2005 1 1 1 1 - -

(a) number of meetings attended

(e) number of meetings eligible to attend



15.c director-related transactions

Transactions involving directors and director-related entities occur in the ordinary

course of the ffc’s business since the board includes directors actively involved in the film

and television industries. the ffc’s policy is that transactions involving directors and director-

related entities are to be on commercial terms that are no more favourable than those available

to others and consistent with the ffc’s investment guidelines. the processes applied by the ffc

in dealing with conflicts of interest are set out in the corporate governance statement

contained in this report. to identify when a director has a material personal interest in a

transaction, the board has adopted a set of principles, some more stringent than the law

requires. the board acknowledges that no code of practice can be exhaustive, and that the

onus is always upon each director to declare any personal interest that may not be covered

by the code of practice.

44 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 45





15.c director-related transactions (cont.d) 17. Additional financial instruments disclosure

The board considers that a director has a material personal interest in a film in the

following circumstances: 17.a terms, conditions and accounting policies

(i) where the director, or the partner or child of the director, has a production role in the film. financial instrument accounting policies and methods nature of underlying instrument

(ii) where the director is an officer (a director, secretary, executive officer or employee) of: (including recognition criteria (including terms and conditions

and measurment basis ) affecting the amount, timing

a. the production company; or the parent of that company; or and certainty of cash fl0ws )

b. a company acquiring commercial exploitation rights in the film.

financial assets financial assets are recognised

(iii) where the director or the director’s firm acts as the solicitor, accountant, auditor when control over future

economic benefits is established

or adviser for: and the amount of the benefit

can be reliably measured.

a. any person with a production role in the film;

b. the production company; cash note 3. cash at bank and on hand funds are deposited at call with the

c. a company acquiring commercial exploitation rights in the film; or is recognised at their nominal company’s bank. temporarily surplus

amounts. interest is credited to funds are deposited into bank at-

d. an investor in the film. revenue as it accrues. call money market accounts. interest

is earned on daily balances on bank

(iv) where the director, or a company of which the director is a shareholder or an officer and money market accounts and is

(other than the ffc), is entitled to receive a payment from the budgeted cost of the film. credited at month-end.

(v) where the director has an ownership interest either directly or indirectly exceeding committed funds note 4. these bank deposits mature in seven

5% in any entity which transacts with the ffc. bank negotiable certificate the deposits are stated at the lower days with an effective interest

of deposit of cost and net realisable value. rate of 5.7% pa.

The following transactions in the 2005/06 financial year involved directors or director-

related companies. the amounts stated are the ffc’s investment in the relevant film and bank term deposit the term deposit is stated at the the bank term deposit matures in

television productions. lower of cost and accumulated 2011 with an effective interest

interest and net realisable value. rate of 5.52%pa.

Jonathan m shiff receivables note 5. these sundry receivables are credit terms are net 30 days.

In 2005/06, investments totalling $3,945,119 in one television production where mr shiff is recognised at the nominal amounts

the executive producer and sole director of the production company: h2o - just add water less any allowance for impairment.

profit projects are valued at virtually

$3,945,119. in 2004/05, the equivalent investment was $3,753,903. certain receipts from confirmed

sales prior to year end. allowances

Jan chapman AO for impairment are made when

collection of the debts is judged

In 2005/06, investments totalling $1,597,531 in one feature film where ms chapman was to be less rather than more likely.

kokoda$1,597,531. in 2004/05,

employed to give general advice to the production company: kokoda

the equivalent investment was $3,580,873. film investments notes 1.i and 6. the accounting these investments are largely

loans policies are set out in note 1.i. unsecured. interest may be charged

equity film investments these investments are recognised on loans depending on the

Anthony buckley AM at nominal amounts less any write- particular arrangements.

In 2005/06, investments totalling $6,794 in a variation to a previously approved investment offs and allowance for impairment recoupment of investments

where mr buckley is the producer: the oyster farmer variation to investment$6,794. in 2004/05, to write down to recoverable generally are from earnings for

values. the film projects following release

the equivalent investment was $16,772. which could be two years or more

from initial production funding.

Peter davey financial liabilities financial liabilities are recognised

In 2005/06, investments totalling $2,831,846 in one feature film and one variation to a when a present obligation to

previously approved investment in which distribution rights were acquired by a subsidiary of another party is entered into

village roadshow ltd where mr davey is head of corporate development. boytown $2,581,846 and the amount of the liability

can be reliably measured.

december boys variation$250,000. in 2004/05, the equivalent investment was $5,090,908.

accounts payable note 10. accounts payable and settlement is usually made

Roger amos accruals are recognised at their net 30 days.

nominal amounts, being the amounts

Mr amos retired as a director on 30 june 2005. during the 2004/05 financial year, fees of at which the liabilities will be

$143,827 were paid to kpmg of which mr amos is a partner. settled. liabilities are recognised

to the extent that goods or

services have been received.

Greg vickery AM

Mr vickery retired as director on 10 august 2005. in 2005/06 no fees were paid to deacons leasing incentive note. 12 the leasing incentive leasing incentive liability reduces

of which mr vickery is a partner. during the 2004/05 financial year, fees of $1,836 were paid liability is recognised at the from commencement of rental

to deacons. nominal amount at which the payments in june 2005 over the

liability will be settled. remainder of the lease to june 2013.

distribution guarantee note 4. the distribution guarantee settlement will be made in

16. Contingent liabilities to investors in a film project is 2011 together with interest

recognised at the amount which, accumulating at 5.52%pa.

There are no contingent liabilities of material amount not provided for in the together with interest to

accounts at 30 june 2006 (30 june 2005 – nil). accumulate to 2011, the liability

will be settled.

provision for make good note 11. leased premises are leases, with options for renewals,

leased premises required to be returned to the end in 2009 and 2013. a borrowing

lessor in original condition. cost rate of 5.8% pa has been used in

the provision is measured over determining the provision required

the periods of the leases at the at reporting date.

expected cost of refurbishment

at each reporting date.

46 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 47





17.b interest rate risk 17.e credit risk exposure

The company's exposure to interest rate risk and the effective weighted average Credit risk represents the loss that would be recognised if counterparties failed to perform

interest rate for classes of financial assets and financial liabilities is set out below: as contracted. the maximum exposure to credit risk on financial assets is the carrying

Weighted Class value Class value at Class value at Class value amount net of allowances for impairment loss. the company minimises concentration of

average interest at floating fixed interest rate ($) fixed interest rate ($) non-interest credit risk by undertaking transactions with a number of counterparties and with limits on

rate (%) interest rate (due within 12 mths) (due more than 5 years) bearing ($) Class ($)

investment amounts in projects and with any one producer and corporate group in a financial

2006 financial assets year. risk is concentrated in the film and television industry in australia. significant cash is

cash 5.05 151,530 1,204 152,734

committed funds – bank deposited throughout the year in an institutional money market fund which conforms to an

certificate of deposit 5.70 7,000,000 7,000,000 s&p aaam rating.

committed funds –

bank term deposit 5.52 4,096,604 4,096,604 17.f net fair values of financial assets and liabilities

receivables 2,661,245 2,661,245

film investments Net fair values of financial assets and liabilities are determined by the company on the

– loans 285,808 285,808 following bases:

– equity film investments 31,047,771 31,047,771

151,530 7,000,000 4,096,604 33,996,028 45,244,162 The net fair values of film investment-loans and equity film investments are determined in

2006 financial liabilities accordance with the statement of accounting policies note – 1.i at amounts not exceeding

accounts payable 543,419 543,419 recoverable amounts. these amounts have not been discounted to present values. the

leasing incentive 467,257 467,257

distribution guarantee 5.52 4,096,604 4,096,604 carrying amounts for cash, committed funds, receivables, accounts payable, leasing incentive,

employee benefits 5.80 707,111 707,111 distribution guarantee and employees benefits approximate fair value. the carrying amounts

provision for make good 5.80 169,378 169,378

and net fair values of financial assets and liabilities at 30 june 2006 are as follows:

876,489 0 4,096,604 1,010,676 5,983,769



2005 financial assets Carrying amount ($) Net fair value ($)

cash 3.76 381,888 1,143 383,031 jun 06 jun 05 jun 06 jun 05

committed funds – bank

accepted commercial bills 5.47 950,000 950,000

committed funds – financial assets

bank term deposit 5.52 3,876,972 3,876,972 cash 152,734 383,031 152,734 383,031

receivables 6,778,914 6,778,914

film investments committed funds-certificate

– loans 431,145 431,145 of deposit & bank bills 7,000,000 950,000 7,000,000 950,000

– equity film investments 33,836,706 33,836,706

381,888 950,000 3,876,972 41,047,908 46,256,768

committed funds-bank

term deposit 4,096,604 3,876,972 4,096,604 3,876,972

2005 financial liabilities receivables 2,661,245 6,778,914 2,661,245 6,778,914

accounts payable 568,950 568,950

leasing incentive 534,802 534,802 film investments

distribution guarantee 5.52 3,876,972 3,876,972 – loans 285,808 431,145 285,808 431,145

employee benefits 5.12 652,025 652,025

provision for make good 5.10 157,341 157,341 – equity film investments 31,047,771 33,836,706 31,047,771 33,836,706

809,366 0 3,876,972 1,103,752 5,790,090



the company is precluded by its constitution from borrowing other than short term facilities

financial liabilities

for working purposes. accounts payable 543,419 568,950 543,419 568,950

leasing incentive 467,257 534,802 467,257 534,802

off-balance sheet interest earnings distribution guarantee 4,096,604 3,876,972 4,096,604 3,876,972

At 30 june 2006 $16,836,828 (june 2005 – $18,562,512) of defeasance funds and related gst was employee benefits 707,111 652,025 707,111 652,025

held in a bank money market account by a trustee to be paid to various producers within a provision for make good 169,378 157,341 169,378 157,341

weighted average time of 55 days (2005 – 87 days). interest earnings on these funds are credited there are no derivatives or hedge instruments entered into during the year or existing at 30 june 2006

to the company at each month-end. refer note 7. set-off and extinguishment of debt. (and at 30 june 2005).

current interest rate at call 5.63% (2005 – 5.49%).

17.c financial risk management 18. Statement of operations by segment

The company’s film investment activities expose it to financial risk. due to the inherent risk

of film investment and the historic performance generally of australian films, losses on The company operates predominantly within one business and one geographic location,

film investments are expected to occur. allowance for impairment loss is made for film being the financing of film and television production in australia.

investments based on the likely amount that will not be recouped. the company does not

enter into trade financial instruments for speculative purposes. market risk is low because 19. Financing facilities

the company has only a small foreign currency balance and the fixed interest bills assets

mature in seven days. the bank deposit at a fixed interest rate has a corresponding liabilty The company is precluded by its constitution from borrowing for the purpose of financing

at the same interest rate. credit risk in relation to film investments is high for the reason its activities, other than short term facilities for working purposes. no short term facilities

stated above. liquidity risk is negligible because the company does not have borrowings. have been arranged. the company has a line of credit of $66,000 through bank issued

as a result of the nature of the company’s business, internal policies have been put in place corporate credit cards which are settled on monthly statement.

to deal with the management of financial risk, that is, the company’s exposure to market,

credit, liquidity and cash flow and fair value interest rate risk.

20. Economic dependency

17.d foreign exchange risk The company is dependent on continued australian government support through grants,

The only foreign currency financial asset or liability at 30 june 2006 (and 30 june 2005) is determined on a trienniel basis currently for the period to 30 june 2008, to maintain

foreign currency cash held equivalent to a$404 (2005 – a$341). the company’s policy is to its activities.

enter into forward foreign exchange contracts to hedge contracted foreign currency net

receivables or payables in excess of us$500,000. the terms of these receivables or payables are

generally within two years. no such transactions occurred during the year to 30 june 2006

(and year to june 2005) and as at that date there are no hedged positions.

48 FILM FINANCE CORPORATION AUSTRALIA LIMITED ABN 22 008 642 564 49





2006 ($) 2005 ($) 23. First time adoption of australian equivalents

to international financial reporting standards

21. Executive remuneration For reporting periods beginning on or after 1 january 2005, the company must comply with

the aggregate amount of total remuneration received by the australian equivalents to international financial reporting standards (aifrs) as issued

or due to be received by the five key management personnel by the australian accounting standards board. the financial report of film finance

with greatest management authority 918,424 1,124,964 corporation australia limited complies with all australian equivalents to international

financial reporting standards in their entirety. in accordance with aasb 1: first-time

the aggregate amount of separation and redundancy / adoption of australian equivalents to international financial reporting standards,

termination benefit payments included in the above adjustments to the accounts resulting from the introduction of aifrs have been applied

aggregate remuneration - 326,425 retrospectively to 2006 comparative figures. these accounts are the first financial

statements of film finance corporation australia limited to be prepared in accordance

with the australian equivalents to ifrs. reconciliation of the transition from previous

22. Notes to statement of cash flows australian gaap to aifrs is set out below and relate to the requirement to account for

22.a reconciliation of cash make good provision. the company has certain operating leases that require leased premises

For the purpose of this statement of cash flows, cash includes to be returned to the lessor in original condition. under agaap the costs of refurbishment

cash on hand and in banks and investments in highly liquid money were not recognised until the expenditure was incurred, whereas under aifrs a provision

market instruments. cash at the end of the financial year as for refurbishment costs must be recognised over the period of the lease, measured at the

shown in the statement of cash flows is reconciled to the expected cost of refurbishment at each reporting date. a provision for make good costs

related items in the balance sheet as follows: for these refurbishments of $148,305 is now recognised as at 1 july 2004.

cash at end of the year is shown in the balance sheet as: Reconciliation of equity and profit and loss at 1 july 2004 and 30 june 2005:

cash at bank and on hand note 3 152,734 383,031 effect of effect of

committed funds – certificate of deposit (2005 commercial bills) note 4 7,000,000 950,000 previous transition previous transition

gaap to aifrs aifrs gaap to aifrs aifrs

7,152,734 1,333,031 01 july 2004 30 june 2005

non-current assets

22.b reconciliation of net (loss) to net plant and equipment 921,738 148,305 1,070,043 922,627 128,027 1,050,654

cash provided by operating activities

net (loss) (1,399,151) (12,886,941) Total assets 56,309,663 148,305 56,457,968 47,214,267 128,027 47,342,294



adjustments: non-current liabilities

depreciation and amortisation 203,376 197,401

provision for make good

(profit) / loss on sale of plant and equipment note 2.c 60 (2,037) leased premises 0 148,305 148,305 0 157,341 157,341

increase in provision for employee entitlements 55,086 881

increase in provision for make good leased premises 12,037 9,036 Total liabilities 1,870,518 148,305 2,018,823 5,632,749 157,341 5,790,090

current assets – loans – increase allowance for

impairment losses note 6 145,337 58,200 reserves

non-current assets – investments – increase loss for the year 0 0 0 12,857,627 29,314 12,886,941

allowance for impairment losses note 6 70,669,756 77,643,123 Total equity 54,439,145 0 54,439,145 41,581,518 (29,314) 41,552,204

current assets – receivables – decrease /(increase)

directors’ valuation of profit projects note 1.j 1,177,857 (1,320,737)

decrease in prepayments 24,593 559

(increase) in sundry receivables – interest (1,686) (21,538)

decrease in receivables gst 328,954 113,305

decrease / (increase) in sundry receivables – other 82,544 (70,089)

increase/(decrease) in trade accounts payable 17,199 (37,874)

(decrease) / increase in other payables and accrued expenses (42,730) 12,322

(decrease) / increase in leasing incentive liability (67,545) 242,068

Net cash provided by operating activities 71,205,687 63,937,679

50 FILM FINANCE CORPORATION AUSTRALIA LIMITED 51







directors’ declaration

dated 13 september 2006







In the opinion of the directors of film finance corporation australia limited: independent audit report

to the members of film finance corporation australia limited

a. the financial statements and notes, set out on pages 32 to 49, are in accordance with the

corporations act 2001, including: SCOPE



(i) giving a true and fair view of the financial position of the company as at 30 june,

the financial report and directors’ responsibility

2006 and performance, as represented by the results of operations and cash flows, The financial report comprises:

for the year ended on that date; and, • directors’ declaration;

• income statement;

(ii) complying with australian accounting standards and the corporations regulations 2001; • statement of recognised income and expense;

• balance sheet;

and, • statement of cash flows; and

• notes to and forming part of the financial report

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. Of the film finance corporation australia limited for the year ended 30 june 2006.

The directors of the company are responsible for preparing a financial report that gives a

Signed in accordance with a resolution of the directors: true and fair view of the financial position and performance of the company and that complies

with the CORPORATIONS ACT 2001, accounting standards and other mandatory financial reporting

requirements in australia. the directors of the company are also responsible for the

maintenance of adequate accounting records and internal controls that are designed to

prevent and detect fraud and error, and for the accounting policies and accounting estimates

inherent in the financial report.

Graham bradley audit approach

chairman I have conducted an independent audit of the financial report in order to express an opinion

on it to the members of the company. the audit has been conducted in accordance with the

australian national audit office auditing standards, which incorporate the australian auditing

and assurance standards, to provide reasonable assurance as to whether the financial report is

free of material misstatement. the nature of an audit is influenced by factors such as the use of

professional judgement, selective testing, the inherent limitations of internal control, and

the availability of persuasive, rather than conclusive, evidence. therefore, an audit cannot

guarantee that all material misstatements have been detected.

While the effectiveness of management’s internal controls over financial reporting was

considered when determining the nature and extent of audit procedures, the audit was not

designed to provide assurance on internal controls.

I have perfomed procedures to assess whether, in all material respects, the financial report

presents fairly, in accordance with the CORPORATIONS ACT 2001, accounting standards and other

mandatory financial reporting requirements in australia, a view which is consistent with my

understanding of the company’s financial position and of its financial performance and

cash flows.

The audit opinion is formed on the basis of these procedures, which included:

• examining, on a test basis, information to provide evidence supporting the amounts and

disclosures in the financial report; and

• assessing the appropriateness of the accounting policies and disclosures used, and the

reasonableness of significant accounting estimates made by management.

independence

In conducting my audit, i have complied with the independence requirements of the

CORPORATIONS ACT 2001.

audit opinion

In my opinion, the financial report of the film finance corporation australia limited is

in accordance with the CORPORATIONS ACT 2001, including:

(a) giving a true and fair view of film finance corporation australia limited’s financial

position as at 30 june 2006 and of its performance for the year ended on that date; and

(b) complying with accounting standards and other mandatory financial reporting

requirements in australia and the CORPORATIONS REGULATIONS 2001.



Australian national audit office





po box a456

P hinchey sydney south nsw 1235

senior director

delegate of the auditor-general 130 elizabeth street

sydney nsw

sydney phone (02) 9367 7100

13 september 2006 fax (02) 9367 7102

52 ABN 22 008 642 564 53









auditor’s independence declaration to the directors

of film finance corporation australia limited

In relation to our audit of the financial report of film finance corporation australia limited

for the year ended 30 june 2006, to the best of my knowledge and belief, there have been:

(i) no contraventions of the auditor independence requirements of the corporations act 2001; and

(ii) no contravention of any applicable code of professional conduct.

Australian national audit office







P hinchey

senior director

delegate of the auditor-general

13 september 2006









The Black Road









front cover image Ten Canoes back cover image Wolf Creek

Canoes,

po box a456

sydney south nsw 1235

130 elizabeth street

sydney nsw

phone (02) 9367 7100

fax (02) 9367 7102

limited edition No. / 1200









an australian government agency

sydney level 12 130 elizabeth street sydney nsw 2000 t. (02) 9268 2555 f. (02) 9264 8551 toll free t. 1800 251 061 toll free f. 1800 653 826

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