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					Redfern-Waterloo
Authority
2007:08 Annual Report
Optimism
Under the direction of the NSW Government’s 10-year urban renewal program for
Redfern-Waterloo, the revitalisation of this once undercapitalised city fringe location has
instilled renewed confidence in the region and encouraged an influx of creative enterprise
and private investment.

With the amount of commercial, residential and community facilities being developed or
refurbished as a direct result of RWA initiatives, Redfern-Waterloo is seeing the benefits of
a commitment to reinvestment, jobs and sustainable economic prosperity.

Since the RWA was established in 2005, the NSW Government has directly facilitated the
investment of well over $600 million towards infrastructure development and the provision
of improved human services and an increase in employment opportunities for the local
community. This, in turn, has inspired a sense of optimism among people who live and/or
work in Redfern-Waterloo and those who will do so in the future.




Cover:
Community representative and Aboriginal affairs activist, Sol Bellear, joins South Sydney’s
under-13s Alexandria Rovers JRLFC and coach, Jamie Dempsey, during a training session
at Alexandria Park.
RWA Ministerial Advisory Committee Member (Built Environment), Sol Bellear has lived in the South Sydney area and been actively
involved in Aboriginal community affairs for many years. Former Deputy Chair of ATSIC, head of the Redfern Aboriginal Authority (RAA)
and Board Member of the South Sydney Rugby League Football Club among his credentials, Sol says the RWA’s urban renewal program
has shattered the perception of Redfern as ‘a broken down no-go zone’.

‘It’s the RWA’s Aboriginal employment strategies that have really impressed me. They’ve already created over 100 positions for local
Aboriginals, there are new Aboriginal-owned businesses, the Black Theatre’s been redeveloped and now Channel 7 has made a
commitment to employ as many Aboriginal people as they can with the new media centre at Australian Technology Park.’

‘Then there’s the Indigenous Centre at the old Redfern Public School and the plans for North Eveleigh... I mean, a lot of people
haven’t grasped what’s happening. Some people still want Aboriginals moved out of Redfern, yet there are more Aboriginals living
in the high-rises of Waterloo than there are on The Block.’
Contents

                                                                             03
                                                                            01



02   Coverage Map                     05   Overview
03   Letter to the Minister           05   Principle Objectives
06   Statement from The Chairperson   08   Organisational Structure
     and Chief Executive officer       11   Corporate Governance
                                      12   Board Member Profiles
                                      16   Redfern-Waterloo Plan
                                      18   Built Environment Plan
                                      22   Human Services Plan
                                      24   Employment and Enterprise Plan
                                      26   Redfern-Waterloo Renewal
                                      38   RWA Sponsorship and Grants
                                      40   Independent Auditor’s Report
                                      41   Director’s Statement


                                      42   Financials
                                      86   Appendices
                                      89   Contact Details


                                      90   Index
02




     Redfern and Waterloo are just south of Sydney’s Central Business District. To the south-west of Redfern and Waterloo are
     Sydney’s economic gateways, Port Botany and Sydney Airport. The traditional owners of Redfern-Waterloo are the Gadigal
     people of the Eora Nation. The area remains culturally and historically significant for Aboriginal persons throughout Australia
     and is home to people from a diverse range of non-English speaking backgrounds.




     Vision
     To establish Redfern-Waterloo as an active, vibrant and sustainable community by promoting
     and supporting greater social cohesion and community safety, and respect for the cultural heritage
     and orderly development of the area in consideration of social, economic, ecological and other
     sustainable development.
                                                           Redfern-Waterloo Authority




                                                                                        03




Minister’s Letter
The Hon. Kristina Keneally MP
Minister for Redfern-Waterloo
Parliament House
Macquarie Street
Sydney



Dear Minister Keneally


It is with pleasure that I forward you the fourth Annual
Report of the Redfern-Waterloo Authority for the year
ending 30 June 2008.

This report has been prepared in accordance with the
NSW Annual Report legislation and the Redfern-Waterloo
Authority Act 2004 No 107.

Yours Sincerely




Robert Domm
Chief Executive Officer
Redfern-Waterloo Authority
     “Our courses give people an opportunity to find
      themselves through a respect and commitment”
     Aunty Beryl Van-Oploo, Aboriginal Elder from the Yaama Dhiyaan Hospitality Training Centre, North Eveleigh

04




      Aboriginal Elder, Beryl Van-Oploo, has been running the RWA’s Yaama Dhiyaan Hospitality Training Centre in North Eveleigh with
      Aboriginal chef, Mathew Cribb for the last two years. Known by everyone as simply ‘Aunty Beryl’, her passion extends beyond the
      activity of the kitchen to the disadvantaged and unemployed the Centre helps to inspire on a daily basis.
      Yaama Dhiyaan (or ‘welcome family and friends’ in the language of the Gamiliaroi people) specialises in Indigenous culture and
      cuisine – an Australian first which has resulted in an invitation to take part in the Terra Madre Food Conference to be held in
      Turin, Italy in October.

      Aunty Beryl is justifiably proud of the Centre’s success, but reserves her greatest adulation for its students. ‘To see these people go
      out into the workforce as a result of the skills they’ve learned from us is very rewarding, but it’s about much more than finding a job.
      Our courses give people an opportunity to find themselves through a respect and commitment to what we’re trying to achieve for them’.

      She says the changes happening in Redfern-Waterloo are having a positive impact, particularly within the Aboriginal community.
      ‘They want to get skilled up and be part of the local workforce. Regaining self-esteem and getting involved in the community can
      change a person’s life and the lives of everyone in their family. For me, that’s the icing on the cake.’
                                                                                                       Redfern-Waterloo Authority




                                                                                                                                    05




Overview                                                     Principal Objectives
The Redfern-Waterloo Authority (RWA) was created by          • To encourage the urban renewal of Redfern–Waterloo into
a NSW Government Act of Parliament in Oct 2004 (Redfern-      an active, vibrant and sustainable community;
Waterloo Authority Act 2004 No 107) and established on
17 January 2005.                                             • To promote, support and respect the Aboriginal community
                                                              in Redfern-Waterloo with regards to the importance of the
The RWA is responsible for revitalising Redfern, Waterloo,    area to the Aboriginal people;
Eveleigh and Darlington through strategic urban renewal,
job creation and improved human services in consideration    • To promote the orderly development of Redfern-Waterloo
of social, economic, ecological and other sustainable         whilst taking into consideration principles of social,
development, public spaces, Aboriginal community needs,       economic, ecological and other sustainable development;
social cohesion and community safety.
                                                             • To provide and promote housing choices in the operational
                                                              area;

                                                             • To enable the establishment of public areas in Redfern-
                                                              Waterloo; and

                                                             • To promote greater social cohesion and community safety
                                                              in Redfern–Waterloo.
     07:08 Annual Report




06




     Statement from the Chairperson and Chief Executive Officer
     We are pleased to present the fourth Annual Report of          and encouraging elderly Aboriginals to help design health
     the Redfern-Waterloo Authority, which was established          programs. Overall, the Plan aims to better coordinate services
     on 17 January 2005.                                            to ensure the needs of the community are being met. Over the
                                                                    next decade, the NSW Government will work to implement
     In this, our third full financial year, many initiatives have   this second phase of the Human Services Plan, along with
     been implemented to further promote investment in the          Phase One – which deals with services for children and
     operational area and to provide jobs and training for local    families, Aboriginal persons and young people.
     unemployed, particularly within the Indigenous community.
                                                                    In this Financial Year, several key projects moved forward
     A sound strategic platform has been laid for Redfern-          including the successful tendering for the Rachel Forster
     Waterloo’s future growth and social cohesion.                  Hospital site, with net proceeds from the sale dedicated
                                                                    to the development of the new $10 million Community
     Over the last 12 months, we have continued to focus our        Health Centre on the site of the former Redfern Courthouse
     efforts on further developing the Redfern-Waterloo Plan,       and Police Station. This development will create up to 94
     which is being implemented as part of the Government’s         full-time jobs and lead to the adaptive reuse of the Redfern
     10-year urban renewal strategy. The three main components      Courthouse heritage building. The proposed redevelopment
     are Human Services, Employment & Enterprise and the            of the hospital site will also result in significant social,
     Built Environment.                                             economic and environmental benefits for the Redfern-
                                                                    Waterloo area. An estimated $70 million worth of local
     Stage One of the Built Environment Plan was released on        investment is expected to be generated through the proposed
     30 August 2006 and is primarily a planning framework to        development of up to 150 new residential dwellings and
     encourage future economic growth and the creation of up        more than 1000sqm of open public space.
     to 18,000 jobs throughout Redfern-Waterloo, The blueprint
     included plans to generate more than 444,000sqm of new         Following the successful brokering by the RWA for the
     employment space, 2,000 new homes, a new Town Centre,          purchase of the former Redfern Public School by the
     improved pedestrian access to our residential and business     Indigenous Land Corporation (ILC) from the Department of
     hubs and better urban design.                                  Education and Training, approval was granted in October
                                                                    2007 for a new $30 million National indigenous Development
     We have also been driving and monitoring the                   Centre (NIDC). The Centre will provide local families with
     implementation of Phase One of the Human Services Plan         access to a range of learning, education, recreation and
     and the Employment and Enterprise Plan. Both Plans aim to      employment opportunities and represents a commitment by
     enhance the lives of the most vulnerable and disadvantaged     the RWA and the ILC to positive change for urban Indigenous
     within our community.                                          communities. The Centre is expected to be operational by
                                                                    2009 and will deliver 20 construction jobs for Aboriginal
     A draft Human Services Plan (Phase Two) was finalised in        workers as part of the RWA’s Indigenous Employment Model.
     2007 and publicly released in July 2008. Phase Two outlines
     key strategies for the improvement of services to older        Early in 2008, the RWA lodged its Concept Plan for the
     people, people with disabilities, homeless people and          redevelopment of North Eveleigh which will in turn fund an
     migrant communities, while recommendations include a new       upgrade of Redfern Railway Station and a new pedestrian/
     task force to enhance the provision of dementia services,      cycle bridge to link the North Eveleigh with Australian
     increased cultural awareness training for service providers    Technology Park. The North Eveleigh project has a capital
                                                                                                           Redfern-Waterloo Authority




                                                                                                                                        07




works cost of $550 million and will transform the historic      The RWA’s commitment to the implementation of the
precinct into a dynamic commercial, residential and cultural    Built Environment Plan includes an Affordable Housing
epicentre for the city. A significant proportion of the site     Contributions Plan, which will deliver about $35 million
will be retained in public ownership, with the adaptive         or 75 affordable housing dwellings in Redfern-Waterloo
reuse of buildings of historic significance. This includes       over the next 10 years. The RWA will also be able to deliver
the refurbishment of the heritage Blacksmiths’ Workshop         an additional $30 million for affordable housing at North
adjoining the Performing Arts Centre for a community            Eveleigh under the agreement it negotiated with the former
market, arts space and car park. The markets have received      owner over the future development of the CUB site in
development consent and the multi-purpose facility is           Chippendale. $16 million of the total funds available will be
scheduled to commence weekend operation in the latter           committed to affordable housing specifically for Aboriginal
half of 2008.                                                   residents, which will be in addition to housing owned or
                                                                proposed by the Aboriginal Housing Company on AHC land
The RWA’s agreement with ATP Partnership Ltd has led to         in and around The Block in Redfern.
the start of construction of a $123 million development at
Australian Technology Park. Under the agreement, the Seven      The RWA Contributions Plan will also deliver about $37
Network and their publishing company, Pacific Magazines          million in developer contributions for public domain and
(along with other commercial tenants), will relocate to         other public works as a result of future development in the
the site within the next two years to occupy a 43,500sqm        area under the RWA’s Built Environment Plan.
state-of-the-art media centre. This will be Redfern’s largest
commercial development in more than 10 years and create         In partnership with Housing NSW, the RWA has commenced
600 construction and 2000 permanent jobs, including 60          work on Stage Two of the Built Environment Plan, which
for Indigenous construction workers. The multiplier effect in   includes the aim of improving public housing stock,
respect to further investment and jobs coming to Redfern is     enhancing the mix of housing types and tenancies in
expected to be very significant.                                 order to reduce the concentration of public housing,
                                                                establishing a more sustainable social mix and facilitating
The RWA’s direct commitment of more than $54 million            affordable housing.
at Australian Technology Park for the development of a
12,000sqm research facility along with associated roads and
infrastructure was realised in May 2008 with the completion
of the National ICT Australia (NICTA) Building. The Defence
Science and Technology Organisation now occupies the first
three floors, with NICTA having relocated to the upper three     Dr. Col Gellatly
floors in mid-2008.                                              Chairperson

In June 2007, the NSW Government announced a major
$27 million public housing redevelopment at Elizabeth
Street Redfern that will create 106 modern and eco-friendly
dwellings. In addition, the Department of Housing will sell
adjoining land for a private residential development of
158 new dwellings.                                              Robert Domm
                                                                Chief Executive Officer
     07:08 Annual Report




08




     Organisational Structure
     In order to achieve its principle objectives, the RWA maintains   • Enhance and manage public places in the operational area
     an undertaking to:                                                     and to improve, maintain and regulate the use of those
                                                                            public places;
     • Promote, facilitate, manage and secure the social,
      economic, ecological and other sustainable development           • Promote, co-ordinate, organise, manage, undertake,
      and use of the operational area, including the development            secure, provide and conduct cultural, educational,
      and management of land, the provision of infrastructure and           commercial, recreational, entertainment and transport
      the establishment of public areas;                                    activities and facilities in the operational area; and

     • Provide and promote housing choices in the operational          • Do any other thing for the sustainable improvement of
      area (including for Aboriginal residents);                            the operational area.

     • Provide and promote employment opportunities for local
      residents, commercial opportunities for local businesses
      and cultural development (including the needs of the
      Aboriginal community) in the operational area;




                                                                CEO


                                                                                                    • Human Services
                                                                                                    • Training, Enterprise
                                                                                                     and Employment
                                                                                                    • Community Relations
                                                                                                    • Office Administration




             Australian
       Technology Park Precinct                             Urban Renewal                                     Planning and
           Management Ltd                                   (Development)                                     Urban Design
                                                                                                                                Redfern -Waterloo Authority




“What’s happening at Australian Technology Park
 and with Channel Seven coming to Redfern,
 this will all be better for local business”
 Eric and Maria Papadopoulos, owners of Alexandria Gas ‘n Go, Redfern
                                                                                                                                                              903
                                                                                                                                                              09




 Redfern / Regent Streets Upgrade
 The Redfern and Regent Streets upgrade was part of a major                    As part of the RWA’s groundbreaking Indigenous Employment
 initiative by the City of Sydney to revitalise the Redfern                    Model the contractor for the upgrade (along with the
 district and create a more vibrant, active and safe public                    Redfern Park redevelopment) created seven apprenticeships,
 domain. Works are expected to be finished by September 07.                     traineeships and labouring positions specifically for
                                                                               Aboriginal persons.
 The beautification between Elizabeth and Regent Streets
 has delivered key streetscape improvements such as:                           The upgrade creates a more
                                                                               vibrant, active and safe public domain.
 – Wider footpaths with new paving and more trees;

 – New street furniture and decorative lighting;

 – A new civic place and art installation at Jack Floyd
   Reserve; and

 – Shared traffic/pedestrian/cycle zones in lanes
   adjacent to Redfern Street.




 Married for 36 years, Eric and Maria Papadopoulos have owned and run the Alexandria Gas ‘n Go on Regent Street since 1977.
 Maria – or ‘Mary’ as she’s known by the locals – ‘loves the place’ and describes it as ‘home’, while Eric says the location is good
 for a business like theirs.

 ‘We’re right between the city and the airport. There are new shops and different people moving into the area. What’s happening at
 Australian Technology Park and with Channel Seven coming to Redfern, this will all be better for local business.’

 Eric agrees that the influx of new business and residential development will help change people’s perception of Redfern-Waterloo.
 ‘When something bad happens in Sydney, even if it’s not Redfern, people point the finger,’ he says. ‘But bad things happen in other
 places too. In 30 years, I’ve never had any problems. I mean, it’s the way you treat people... that’s how you’ll be treated in return.”
     “This is just a really good place to live.
      There’s a real honesty here”
      Pastor Ray Minniecon, campaigner for the Aboriginal Diggers Recognition Project

10




      Pastor Ray Minniecon of the Kabi Kabi people in Queensland came to Sydney 12 years ago, and like many Aboriginals who live in the city,
      calls Redfern home. An active local community member and former Director of the Crossroads Aboriginal Ministries, Ray describes Redfern
      as ‘one of the safest places in the country for an Aboriginal person’.

      ‘This is just a really good place to live. There’s a real honesty here and the best thing that’s happened in the area, for me personally, is the
      Babana Aboriginal Men’s Group.’

      Babana (or ‘brother’) is a community group formed in 1996 which provides support, networking and opportunities for local Aboriginal men
      to discuss projects of benefit to Redfern-Waterloo – the most significant being the Aboriginal Diggers Recognition Project (or ‘Coloured
      Diggers Project’) which seeks acknowledgment of Australia’s Indigenous war veterans. Local Aboriginals – including Pastor Ray – decided to
      draw attention to their history and organised the nation’s first Coloured Diggers March in Redfern on Anzac Day 2007, an event successfully
      repeated in 2008.

      ‘I think it’s an inspiration for young Indigenous people to realise their fathers and grandfathers fought for this country in all the overseas
      conflicts.’ The Group is currently campaigning for the installation of a bronze monument by sculptor Andrew Symonds commemorating
      our Aboriginal and Torres Strait Islander Anzacs.
                                                                                                               Redfern-Waterloo Authority




                                                                                                                                            11




Corporate Governance
The Minister for Redfern-Waterloo, the Hon. Kristina Keneally      Affordable Housing Committee
MP, is responsible for the control and direction of the RWA.
The Minister has established a Board of Governance and,            In accordance with RWA Board Procedures, the Affordable
while the Board establish the policies and directions for the      Housing Committee Terms of Reference are as follows:
RWA, its day to day management is the responsibility of the
Chief Executive Officer.                                            • To review the development and operation of the proposed
                                                                    affordable housing program for Redfern-Waterloo;
There are three Board Committees:                                  • To review the operation of the Affordable Housing Voluntary
                                                                    Planning Agreement for the CUB site; and
Audit and Compliance Committee                                     • To review the operation of the Affordable Housing
                                                                    Contributions Plan for Redfern-Waterloo.
The Audit and Compliance Committee is the focal point for
communication between the Board, the external auditors, the
internal auditors and management, as their duties relate to
                                                                   Urban Renewal Committee
the financial accounting, reporting and internal controls and
                                                                   The Urban Renewal Committee reviews and advises on
compliance.
                                                                   proposed urban renewal strategies in accordance with the
                                                                   RWA’s Built Environment Plan.
The Audit and Compliance Committee assists the Board in
fulfilling its responsibilities as to accounting policies and
reporting practices of the Redfern-Waterloo Authority. It is to
be the Board’s principal agent in assuring the independence
of RWA auditors, the integrity of management and the
adequacy of the disclosures to the public.




                                                Minister for Redfern - Waterloo




                                                              RWA Board




          Audit Compliance Committee                Affordable Housing Committee             Urban Renewal Committee
     07:08 Annual Report




12




     Board Member Profiles
                            Dr Col Gellatly B Ag Ec 9 (Hons) UNE, M Comm (Hons) UNSW, Ph D NC State, FIPAA
                            Dr Col Gellatly is the current Chairperson of the Redfern-Waterloo Authority, as of 1 July
                            2007. Dr Gellatly is the former Director-General of the Premier’s Department, a role which
                            he held since being appointed in 1994. He has held a number of senior management
                            positions within the NSW public service, including as Director General of the Department
                            of Land and Water Conservation. He is also Chair of Pillar Corporation, a member of the
                            Board of State Water Corporation, a member of the UNE Council, member of Board of
                            the NSW Rugby League and an Administrator, Wollongong City Council. Dr Gellatly has
                            a degree in Agricultural Economics from the University of New England, a Master of
                            Commerce from the University of NSW and a PhD from North Carolina State University.




                            CEO – Mr Robert Domm BA LLB (Mon) MLLR (Syd) Grad.Dip.Legal Prac. (ANU)
                            Robert Domm is Chief Executive Officer of the Redfern-Waterloo Authority and Managing
                            Director of Australian Technology Park. Mr Domm spent four years at the City of Sydney
                            including 3 years as General Manager during a period of unprecedented growth and change,
                            through Council boundary changes and amalgamation with South Sydney Council. He
                            served for three years as a Director of the Sydney Festival Limited and is also a Director of
                            the South Sydney Leagues Club. A qualified legal practitioner and former labour advocate,
                            Mr Domm has also worked as an adviser to Government and continues to bring broad
                            experience and a strong commitment to social justice to his role as Chief Executive Officer
                            with the RWA. In July 2008, the NSW Government appointed Mr Domm as Chief Executive
                            Officer of the Sydney Harbour Foreshore Authority. Mr Domm holds degrees in Arts and Law,
                            a masters degree in Labour Law & Relations and a graduate diploma in Legal Practice.


                            Mr Michael Collins FRICS
                            Mike Collins is a Sydney property practitioner. He has been involved in property
                            economics, real estate valuation, property consultancy and asset management for over
                            35 years, and is professionally qualified in property economics and valuation. He runs
                            his own property advisory company based in the Sydney CBD which provides services
                            to the public and private sectors throughout New South Wales. Mike sits on the Boards
                            of Redfern Waterloo Authority and Australian Technology Park Precinct Management
                            Limited and is the current Chairman of Sydney Harbour Foreshore Authority. He is a former
                            Chairman of the Heritage Council of NSW and a former National and NSW President of
                            the Australian Property Institute, the professional institute representing the property
                            valuation and land economist professions in Australia.
                                                                              Redfern-Waterloo Authority




                                                                                                           13




Mr Richard Johnson MBE M Phil (UCL) B.Arch Hons 1 (UNSW) FRAIA
Richard Johnson is an award winning architect and was recently awarded the 2008 Raia Gold
Medal for his exceptional body of work and contribution to the profession. He is a Visiting
Professor of Architecture at the University of New South Wales and a Director of Johnson Pilton
Walker Architects. He is also a Fellow of the Australian Institute of Architects, an Associate of the
Japan Institute of Architects, and a Member of the Design Institute of Australia. Mr Johnson was
involved in the design of the Australian embassies in Beijing and Tokyo. He is the Chief Architect
for the Sydney Opera House and is also currently working on projects including the Australian
War Memorial, the Hilton Hotel and the Asian Wing of the Art Gallery of New South Wales.
He also serves on the Board of the Australian Technology Park and the Australian Architects
Association. Mr Johnson has a Bachelor of Architecture (1st Class Honours) from the University
of NSW and a Master of Philosophy (Town Planning) from University College, London. In 1976 he
was made a Member of the Order of the British Empire for services to Architecture.

Ms Samantha Mostyn BA LLB
Ms Sam Mostyn has an extensive background in business, management, law and
sustainability. She recently left Insurance Australia Group (IAG) after 6 years as Group
Executive, Culture & Reputation. In that role she was responsible for the Human Resources,
Organisational Effectiveness, Corporate & Government Affairs, and Corporate Sustainability
functions. Prior to joining IAG in 2002, Sam held senior executive roles at Optus and spent
2 years in London in the role of Group Director Human Resources for Cable & Wireless plc.
She has a BA/LLB from the Australian National University and serves on the Boards of the
Sydney Theatre Company, the Australian Museum, Reconciliation Australia, Australian
Volunteers International and the Australian Football League. She also serves on the NSW and
QLD Climate Change Councils and chairs the Advisory Council of CSIRO’s Climate Adaptation
Flagship project. She joined the Board of the Redfern Waterloo Authority in 2005.


Mr Warren Mundine AIMM MAICD
Warren Mundine is the Chief Executive Officer of NTSCORP Ltd., and an advocate for lifting
Indigenous people out of poverty and building a strong Indigenous economy. Warren
is also a member of the Australian Institute of Management, the Australian Institute of
Company Directors, the Chair of NSW Labor’s Indigenous Policy Committee, a member
of IAG’s Expert Community Advisors Committee, Executive Member of the National
Native Title Council, Executive member of the St. Joseph’s College Indigenous Fund,
Southern Cross University Foundation, Board member of NAISDA and Ambassador for
the Song Room. Warren has been newly appointed to the National Policy Commission
– Indigenous Housing Committee. Warren is the former National President of Australian
Labor Party, Deputy Mayor of Dubbo and former Chair of NSW Country Labor. He
also is and had previously served on the NSW PCYC State Board, as President of the
NSW Local Government Aboriginal Network, as an Executive member of the Local
Government Association of NSW, as a commissioner with the NSW Local Government
Grants Commission and a former member of the NSW Attorney General’s Juvenile Crime
Prevention Committee.
     07:08 Annual Report




14




     Board Member Profiles
                            Ms Lucy Hughes Turnbull LLB MBA

                            Lucy Turnbull was Lord Mayor of the City of Sydney from 2003 to 2004, Deputy Lord
                            Mayor from 1999 to 2003 and was recently appointed an Administrator of Tweed Shire
                            Council. Ms Turnbull has extensive experience in planning, business and investment
                            banking and currently chairs many companies, both private and public, including
                            WebCentral Group Limited, Centrestone Wealth Management Pty Limited, and Pengana
                            Holdings Limited. Former chair of the NSW Government’s Ministerial Advisory Committee
                            on Biotechnology, Ms Turnbull has also served on the NSW Government’s Information
                            Industry Business Advisory Board. She is the author of Sydney – Biography of a City
                            (1999) and has assisted with several community based initiatives in the Redfern area.
                            She also serves on the Board of Australian Technology Park.



                            Ms Ann Weldon

                            Ann Weldon is a proud member of the Wiradjuri Nation and is one of the founding
                            members of the NSW Aboriginal Children’s Service. Ms Weldon has held executive
                            positions and is a member of the Murawina Aboriginal Preschool, Aboriginal Housing
                            Company, Metropolitan Local Aboriginal Land Council, Marrickville Aboriginal
                            Consultative Committee, Aboriginal Housing Development Committee and ATSIC’s
                            National Women’s Advisory and National Sport and Recreation Committees. Ms Weldon
                            was a member of the Sydney ATSIC Regional Council for over 10 years, including a term
                            as Chairperson. Ann was appointed to the inaugural Aboriginal Housing Board in 1998 as
                            an ATSIC nominee and has remained Chairperson of the NSW Aboriginal Housing Board
                            since her appointment in 2000.



                            John Mulally (Appointed 23 January 2008) BA LLB (Hons)
                            John has almost 40 years experience as a lawyer specialising in major property and
                            infrastructure projects. He has acted for major Australian and off-shore developers
                            and investors, Australian and State Government instrumentalities and off-shore
                            Governments. This has included the acquisition, development and sale of major projects
                            in all capital cities of Australia as well as in Vanuatu, Jakarta, Bangkok, Singapore,
                            Tokyo, London, Paris, St Petersburg, Kiev, Moscow and New York. He has also advised
                            on major energy projects in Australia and off-shore. He is currently advising on major
                            infrastructure and renewable energy projects in China and Africa. His role in these
                            projects deals with the funding structure, legal requirements and the integration of the
                            commercial with the legal outcomes required to achieve project development.
                                                                                                              Redfern-Waterloo Authority




                                                                                                                                           15




                                       Ms Jennifer Westacott BA (Hons) FAICD FVIPA
                                       (Term expired 16 January 2008)

                                       Jennifer recently joined KPMG after over 20 years in State Government in Victoria and New
                                       South Wales at Senior Executive and Chief Executive level. Jennifer has held the following
                                       positions: Deputy Director General, NSW Department of Housing; Deputy Director, NSW
                                       Department of Community Services; Executive Director, NSW Health Council; Director
                                       of Housing Victoria; Secretary Education and Training Victoria; and from May 2003 to
                                       October 2005 Jennifer was the Director General of Department of Infrastructure, Planning
                                       and Natural Resources in New South Wales. Jennifer is also a member of the Board of
                                       Advice Faculty of Economics, University of Sydney. Jennifer has also been appointed as the
                                       Adjunct Professor at the City Futures Research Centre, University of NSW.




Ministerial Advisory Committees
Built Environment, Employment and Enterprise and Human Services

Residents of Redfern, Waterloo, Eveleigh and Darlington were also invited by the Minister to participate in any of three
Ministerial Advisory Committees established to advise on matters relating to the development and implementation of
RWA initiatives. These committees also include representatives from Federal, State and Local government and local
Aboriginal communities.
     07:08 Annual Report




16




     Redfern-Waterloo Plan
     The principle objectives of the RWA are being delivered as part   The RWA’s Plan is assisting in achieving three major priorities
     of the NSW Government’s 10-year Redfern-Waterloo Plan. The        of the NSW Government’s comprehensive State Plan:
     three-part Plan is designed as a “whole of community” strategy
     to address the complex issues of, and the needs of people         • Stronger Aboriginal communities through improved health
     who live within, the Redfern-Waterloo area. The Plan is being      and education outcomes;
     developed in stages, the first of which has been delivered, and
     ongoing community input will remain a major consideration.        • Ensuring NSW is open for business; and


     The Redfern-Waterloo Plan consists of three components:           • An improved urban environment.


     • Built Environment Plan – focusing on urban design, traffic,      The State Plan, a New Direction for NSW, was launched
      public access, public transport, land use, affordable housing,   by the Premier, Morris Iemma, in November, 2006 and is
      public housing, cultural heritage and urban renewal.             a blueprint for the betterment of a broad range of services
                                                                       for communities throughout NSW.
     • Employment and Enterprise Plan – developing and
      implementing strategies to increase job and business
      opportunities in the area, particularly for those within the
      Indigenous community.

     • Human Services Plan – reforming human services and
      health issues affecting residents of Redfern-Waterloo.
                                                                                                                               Redfern -Waterloo Authority




“When it comes to issues of domestic
 violence, we can heal”
  Dixie Link Gordon, Mudgin-gal Aboriginal Corporation Women’s Centre co-ordinator

                                                                                                                                                              03
                                                                                                                                                             17




Redfern / Regent Streets Upgrade
The Redfern and Regent Streets upgrade was part of a major                   As part of the RWA’s groundbreaking Indigenous Employment
initiative by the City of Sydney to revitalise the Redfern                   Model the contractor for the upgrade (along with the
district and create a more vibrant, active and safe public                   Redfern Park redevelopment) created seven apprenticeships,
domain. Works are expected to be finished by September 07.                    traineeships and labouring positions specifically for
                                                                             Aboriginal persons.
The beautification between Elizabeth and Regent Streets
has delivered key streetscape improvements such as:                          The upgrade creates a more
                                                                             vibrant, active and safe public domain.
– Wider footpaths with new paving and more trees;

– New street furniture and decorative lighting;

– A new civic place and art installation at Jack Floyd
  Reserve; and

– Shared traffic/pedestrian/cycle zones in lanes
  adjacent to Redfern Street.




A co-ordinator at the Mudgin-gal Aboriginal Corporation Women’s Centre in Chippendale, Dixie Link Gordon has lived in the Redfern-Waterloo
area for 28 years. The Women’s centre is a service staffed and run by Aboriginal women that provides a safe haven and vital gateway for
women of all ages to access a wide range of services and information.

One of the Centre’s core programs since 2004 and strongly supported by the RWA is the ‘Blackout Violence’ campaign which was designed
specifically to inform victims and educate offenders of the consequences of domestic violence within the local Aboriginal community.
The Centre is also planning to work alongside the Babana Men’s Group which provides a similar supportive environment for men.

‘The reality is that violence has always been part of the Aboriginal community,’ says Dixie. ‘More people are realising this kind of behaviour is
unacceptable. Kids don’t have to grow up watching their mum become a victim, young boys don’t have to end up in jail, and a young father
can get the support he needs to hold his family together.’

‘When it comes to issues of domestic violence, we can heal – whether you’re a victim or a perpetrator. While we’re not necessarily seeing less
violence, we’re certainly seeing more people prepared to talk about it and that’s a really positive thing.’
     07:08 Annual Report




18




     Built Environment Plan (BEP)
     The Built Environment Plan (Stage One) was released in             Significant Achievements
     August 2006 along with the State Environmental Planning
     Policy (SEPP) to give legal effect to the new planning controls.   • Project Application approval and commencement of
     The BEP is a landmark strategy to drive the physical renewal        construction of 41,800 sqm commercial development
     of Redfern and Waterloo with the aim to generate more than          valued at $123 million at ATP. The development will
     400,000 square metres of new employment space and up to             house Channel 7, Pacific Magazines and similar
     2,000 new homes. This is being implemented through new              media organisations
     zoning controls for eight key RWA strategic sites:
                                                                        • Construction completed on $47.5 million commercial
     • Redfern Railway Station, Gibbons and Regent Streets               building to house National ICT Australia and the Department
                                                                         of Defence, Science and Technology (DSTO) at ATP.
     • Australian Technology Park
                                                                        • Completion of new roads and infrastructure valued at
     • North Eveleigh                                                    $7 million at ATP.

     • South Eveleigh                                                   • Preparation and public exhibition of Concept Plan for North
                                                                         Eveleigh site. Proposed is a mix of residential, commercial/
     • Eveleigh Street                                                   retail and community facilities. Will go to market for sale in
                                                                         late 2008.
     • Former Local Court House and Police Station
                                                                        • Preparation of design concept and Project Application for
     • Former Rachel Forster Hospital                                    Eveleigh Heritage Walk - a pedestrian and cycle bridge over
                                                                         the rail corridor connecting North Eveleigh and ATP.
     • Former Redfern Public School
                                                                        • Approval of Development Application and commencement of
     The key objective of the Plan involves creating an economic and     building works for the adaptive reuse of the Blacksmith’s Shop
     civic centre around Redfern Station with improved pedestrian        (North Eveleigh) for markets, community uses and parking.
     connectivity between the business hubs of Australian
     Technology Park, North Eveleigh and the Redfern CBD.               • Approval of Concept Plan for the former Rachel Forster
                                                                         Hospital site for residential development. Site was sold
     Stage One also identifies strategies for associated transport,       in early 2008.
     traffic management, heritage protection, open space and public
     domain enhancement, infrastructure provision and guidelines        • Lodgement of Project Application to Minister for Planning
     for the achievement of safe and sustainable communities.            for a $10 million community health centre by NSW Health on
                                                                         the former Redfern Courthouse and Police Station. Work on
                                                                         the site is expected to commence in late 2008.

                                                                        • Approval of Project Application and commencement
                                                                         of construction of the $30 million National Indigenous
                                                                         Development Centre (by the Indigenous Land Corporation)
                                                                         on the site of the former Redfern Public School.

                                                                        • Processed Development Applications (applications with
                                                                         a capital investment value less than $5 million) valued at
                                                                         over $2 million on RWA Sites.
                                                                                                                         Redfern -Waterloo Authority




“There are good people here. Very friendly”
  Harry Karabotsos, barber and hair stylist



                                                                                                                                                        03
                                                                                                                                                       19




Redfern / Regent Streets Upgrade
The Redfern and Regent Streets upgrade was part of a major                 As part of the RWA’s groundbreaking Indigenous Employment
initiative by the City of Sydney to revitalise the Redfern                 Model the contractor for the upgrade (along with the
district and create a more vibrant, active and safe public                 Redfern Park redevelopment) created seven apprenticeships,
domain. Works are expected to be finished by September 07.                  traineeships and labouring positions specifically for
                                                                           Aboriginal persons.
The beautification between Elizabeth and Regent Streets
has delivered key streetscape improvements such as:                        The upgrade creates a more
                                                                           vibrant, active and safe public domain.
– Wider footpaths with new paving and more trees;

– New street furniture and decorative lighting;

– A new civic place and art installation at Jack Floyd
  Reserve; and

– Shared traffic/pedestrian/cycle zones in lanes
  adjacent to Redfern Street.




77-year old Harry Karabotsos migrated to Australia from Greece in 1955 and has been the face of Harry’s Barber Shop on Regent Street
since 1969, when the weekly rent was just five dollars. As owner of one of Redfern’s longest-established private businesses, Harry has
seen a lot of changes in the area over the last 39 years. He recalls a time when he would arrive at the shop to find his front windows
smashed, but – along with most of the memorabilia on display in the window – that’s now a thing of the past.

‘No broken windows now,’ says Harry. ‘There are good people here... very friendly.’
     07:08 Annual Report




20




     Future Key Tasks                                                    Built Environment Ministerial Advisory Committee
     The RWA has commenced research and analysis with Housing            Mr Robert Domm            Chairperson
     NSW to prepare the Redfern-Waterloo Built Environment Plan          Professor Chris Johnson   Department of Planning
     (Stage 2). This plan will focus on options for the revitalisation   Mr Richard Pembroke       Redfern Group
     of public housing in Redfern-Waterloo and opportunities to          Mr Michael Cummins        Waterloo Storm ARLFC Inc
     enhance affordable housing by:                                      Mr Steve Tamas            PRD Nationwide Redfern
                                                                         Ms Kathy Roil             Housing NSW
     • Revitalising public housing stock;                                Mr Richard Hemsworth      Railcorp
                                                                         Mr Reg Fisk               Department of State & Regional
     • Improving the associated public domain;                                                     Development
                                                                         Mr Michael Bushby         Roads & Traffic Authority
     • Reducing the concentration of public housing;                     Mr Andrew Thomas          Director of Strategic Planning
                                                                                                   & Project
     • Increasing the local population for a more sustainable
      social mix; and                                                    Community members

     • Facilitating the provision of affordable housing, including       Mr Alex Kibble
      a shared equity model of home ownership.                           Ms Denny Powell
                                                                         Mr Sol Bellear
     The NSW Government’s commitment to public housing in                Mr Geoffrey Turnbull
     Redfern-Waterloo has been expressed very clearly.                   Ms Norah McGuire

     • There will be no cuts to the amount of public housing


     • Current residents will not be disadvantaged


     • All public tenancies are secure.


     The Redfern-Waterloo community and public housing tenants
     in particular will be extensively consulted on any proposals
     for public housing renewal.
                                                                                                                           Redfern -Waterloo Authority




“Redfern’s been a terrific place for business”
  Maury Finkelstein, owner of the South Sydney Loan Office on Redfern Street



                                                                                                                                                          03
                                                                                                                                                         21




Maury Finkelstein, has been running the South Sydney Loan Office in Redfern for 40 years. His family came to Sydney from Israel in 1925
when Maury was just 12 months old. Now 83, Maury spent 24 years as a tailor in the Eastern Suburbs before he and his father opened the
pawn broking shop in Redfern.
‘I’m no spring chicken and I don’t make a fortune. But I’ve made a reasonable existence. Redfern’s been a terrific place for business and
people here treat their shopkeepers very well.’
While Redfern is transformed around him, Maury’s shop remains as it has for the last four decades. ‘Maybe one day I’ll retire. When I’m working,
I’m occupied. If I can’t get work anymore, then I’ll stop.’
     07:08 Annual Report




22




     Human Services Plan
     The RWA’s Phase One Human Services Plan (HSP) was              Significant Achievements
     published in December 2005 and sets out a framework for
     improving access to health, education, employment and          – Evaluation of the Human Services Plan Phase One
     other essential human services in the local community.
                                                                    – Development of the Waterloo Green Action Plan. This plan
     Phase One addressed services provided primarily for children    was developed in 2007 in response to local community
     and young families, young people and Aboriginal people.         concerns regarding antisocial behaviour and other
     The Plan also identifies priorities and actions to address       related safety issues in the vicinity of Waterloo Green.
     improvement to the delivery of human services.
                                                                    – Provision of a five day Deep Listening in Indigenous
     Phase Two was endorsed by the NSW Cabinet in May 2008           Counselling Skills Workshop by Southern Cross University
     and continues the implementation of Phase One to ensure         for workers from over 20 different Indigenous and
     consistency and complementarities between actions in the        non-Indigenous organisations in conjunction with
     two phases. The draft Human Services Plan (Phase Two)           NSW Department of Community Services.
     identifies eight priority areas as well as improvements to
     service delivery for older people, people with disabilities,   – Provision of a two day Family Violence forum to identify
     migrant communities and homeless people.                        ways to improve support services for Aboriginal men in
                                                                     conjunction with NSW Department of Community Services,
     The eight priority areas are:                                   Police and Housing NSW.

     • Improving access to dementia support;                        – Establishment of the Redfern-Waterloo Community
                                                                     Drug Action Team (CDAT) involving government and non
     • Improving service quality for migrant communities;            government agencies. This group has been successful in
                                                                     obtaining funding to undertake a number of projects to
     • Improving access to aged care and health services by          address risky drinking in the area and has also established
      Aboriginal people 45 years and older;                          a Community Assistance Support Team (CAST) program to
                                                                     engage with street drinkers to identify services to further
     • Reducing the negative impacts of homelessness;                assist this group.

     • Improving identification of need and access to services       – Provision of four “Easy Cooking on a Budget” courses for
      for people with a disability;                                  young parents to provide cooking skills as well as soft entry
                                                                     points to other support services targeting this client group.
     • Reducing social isolation;                                    The project has resulted in a working partnership with SDN
                                                                     Children’s Services and NSW Health.
     • Improving access to local and community transport
      for people who are transport disadvantaged; and

     • Improving safety and amenity.


     The role of the RWA in the development of the Human
     Services Plan is now complete. The RWA will continue to
     play a facilitating and coordinating role to support both
     Government and non-Government agencies to maintain the
     good progress achieved through the Human Services Plan
     Phase One and to assist in the implementation of the
     actions in Phase Two.
                                                                                                        Redfern-Waterloo Authority




                                                                                                                                     23




Future Key Tasks                                                 Human Services Ministerial Advisory Committee
• Develop strategies specifically dealing with private and        Mr Robert Domm               – Chair
 public housing                                                  Dr Phil Lambert              – Department of Education
                                                                                                and Training
• Investigate the need for high and low care residential         Ms Kristy Masella            – Department of Aboriginal
 facilities for older people, including facilities specifically                                  Affairs
 for Aboriginal people                                           Dr Greg Stewart              – Sydney South West Area
                                                                                                Health Service
• Address the need for more affordable housing and service       Ms Margaret Malkjovich       – Housing NSW
 gaps for homeless people                                        Ms Anne-Maree Sabellico      – Department of Community
                                                                                                Services
• Make multi-purpose spaces and community facilities             Ms Alison Peters             – NCOSS NSW
 more available                                                  Superintendent Mark Walton   – NSW Police Service Redfern
                                                                                                Local Area Command
• Implement strategies to improve safety and perceptions         Ms Sally Trevena             – Office of Indigenous Policy
 of safety within the community                                                                 Coordination (OIPC)
                                                                 Ms Ann Hoban                 – City of Sydney
                                                                 Mr Paul Cramer               – Department of Families,
                                                                                                Housing, Community
                                                                                                Services and Indigenous
                                                                                                Affairs.
                                                                 Mr Steven Gal                – Department of Disability,
                                                                                                Ageing and Home Care.

                                                                 Community Members

                                                                 Ms Mabel Chang
                                                                 Mr Robert Perry
                                                                 Ms Lynette Stewart
                                                                 Mr Chris Carbin
                                                                 Ms Rebekah Torres
                                                                 Mr Michael Shreenan
     07:08 Annual Report




24




     Employment & Enterprise Plan
     The Employment & Enterprise Plan was published in May           Significant Achievements
     2006 and is the first comprehensive training and employment
     strategy for the Redfern-Waterloo area. Its main aim is to      – The RWA’s Indigenous Employment Model has created more
     deliver skilled job seekers to meet the specific employment       than 250 jobs for Indigenous workers
     needs of the market, to create educational opportunities
     and build on future growth potential.                           – Establishment of the Aboriginal Construction Company list

     The Plan initially focuses on:                                  – Provision of 8 Certificate II in Hospitality (Operations)
                                                                      Courses through the RWA’s Yaama Dhiyaan Hospitality
     • Increasing supply of employment opportunities, particularly    Training Centre
      through commercial and residential development
                                                                     – Provision of 5 Koori Job Ready Courses for employment
     • Capitalising on the Research/Biomedical Innovation Zone        in the construction industry

     • Improving education and training including a dedicated        – Other training initiatives
      vocational training centre

     • Strengthening partnerships with local employers               Future Key Tasks
     • Industry based employment strategies                          • Building on previous strategies, such as the implementation
                                                                      of the construction training and job placement program
     • Employment and enterprise strategies for Aboriginal            for Aboriginals and the development of the North Eveleigh
      people and youth                                                hospitality and training centre

     • Supporting local business                                     • Targeting the employment opportunities emerging at
                                                                      Australian Technology Park and other RWA strategic sites

                                                                     • Developing strategies for employment opportunities in
                                                                      the service industries

                                                                     • Working with the local community to ensure opportunities
                                                                      for young Aboriginal people in the area are maximised
                                                                      through university based cadetships

                                                                     • Expanding cultural industries through means such as design
                                                                      production, and realising export potential

                                                                     • Strengthening connections to universities to encourage
                                                                      local children to move into tertiary education

                                                                     • Facilitating the running of enterprise summer schools
                                                                                                         Redfern-Waterloo Authority




                                                                                                                                      25




The RWA Indigenous Employment Model (IEM)                       RWA A WINNER AT
                                                                GROUP TRAINING AWARDS 2008
The IEM has brokered employment opportunities in the
construction industry for 250 Aboriginal people across 25       MG My Gateway and the RWA were winners at the NSW Group
trades from electricians to bricklayers, office administrators   Training Awards held in June, 2008 in Sydney.
and crane drivers. On the Redfern Oval upgrade, the RWA
brokered 10 jobs, seven positions for the Redfern Street        Presented by The Group Training Association of NSW,
upgrade and five for the Glebe Point Road project, while         the awards recognise the hard work and dedication
several private sector groups are using the RWA to manage       of apprentices, trainees, host employers and member
Aboriginal employment on sites throughout Sydney.               organisations by rewarding their outstanding achievements
                                                                and excellence in group training.
The Model has also been adopted by other NSW Government
Agencies, while the Commonwealth Government is using it         MG My Gateway and the RWA won the prestigious NSW
to manage the achievement of Aboriginal employment              Innovation and Best Practice Award for development of
outcomes on local construction projects.                        creating opportunities for employment within the Indigenous
                                                                community through the Aboriginal Employment Model.
Employment and Enterprise                                       Indigenous Apprentice of the Year was MG Gateway
Ministerial Advisory Committee                                  employee, Lawrence Kelly – a third year construction
                                                                carpentry apprentice hosted by Bovis Lend Lease. Lawrence
Mr Robert Domm – Chairperson                                    got his start through the RWA’s Aboriginal Employment Model
Dr Phil Lambert – Department of Education and Training          working on the CarriageWorks project at North Eveleigh.
Mr Peter Roberts – TAFE NSW Sydney Institute
Ms Bernadette Self – Department of State and Regional
Development
Ms Kristy Masella – Department of Aboriginal Affairs
Ms Sharon Hawkins – Department of Employment and
Workplace Relations
Mr Mark Spinks – Centrelink
Mr Les Tobler – CFMEU
Mr Shawn Day – City of Sydney (appointed February 2008)
Ms Jan Campbell – City of Sydney (resigned February 2008)

Community Members:

Mr Michael Dalah
Mr Anthony John Larkings
Mr Karl King
Ms Megan Gardiner
Ms Siobhan Bryson
Ms Dixie Link-Gordon
Mr Con Passas
Mr Jon Newton (resigned February 2008)
     07:08 Annual Report




26




     Redfern-Waterloo’s Renewal
     Australian Technology Park (ATP)
     ATP is a wholly-owned subsidiary of the RWA and occupies         In December, 2007, it was announced that Global Television
     13.8 hectares of the former Eveleigh Railway Workshops.          would be joining Channel 7 in the new media centre. 120
     The Park is continuing to experience unprecedented growth,       staff will be based at Global’s new 10,000sqm production
     with planned development over the next few years expected        facility with up to 500 freelancers working on studio projects
     to generate more than 2,600 new jobs – representing a 20         produced by Global including Australian Idol, Dancing with
     percent employment increase for the Redfern-Waterloo area.       the Stars and Hi-Five.

     Provision also exists for several further buildings over the     Preliminary site inspections and excavation works were
     next decade. The first of these was completed in May 2008         undertaken late last year, construction commenced in
     and occupies a 3000sqm site on the eastern side of the Park      May 2008 and the building is expected to be occupied
     near the Garden Street entrance. The result of a $47 million     early in 2010.
     RWA investment and designed by Cox Richardson Architects,
     the six-storey 12,000sqm facility was purpose-built to house     The RWA also invested more than $7.5 million in new roads
     new research facilities for National ICT Australia (NICTA) and   and infrastructure and committed a further $6 million for the
     was constructed in accordance with the RWA Jobs Compact,         Eveleigh Heritage Walk linking ATP with the proposed new
     employing local Indigenous people and new apprentices as         North Eveleigh precinct.
     a key element.
                                                                      Even with more than $200 million worth of capital works in
     Following the RWA’s landmark agreement with ATP Partnership      progress, the ATP site has far more development potential
     Ltd for an investment of $123 million in a 43,500sqm media       under its planning controls. Accordingly, the ATP has
     centre at the Park, planning approval was granted in January     commenced the staged marketing of its four remaining lots
     2007 for the state-of-the-art complex, which will include        which will allow the further construction of 110,000sqm
     four television studios and a 12-storey office building for       of commercial floor space. Future capital investment is
     Channel 7 and their publishing company, Pacific Magazines.        estimated at $460 million and the aim is for the Park to be
     The agreement represents the largest commercial                  fully developed within 5 – 10 years. An ultimate workforce
     development in Redfern for over a decade and will create         of more than 9000 permanent employees will make ATP the
     around 600 construction and 2000 permanent jobs at ATP.          main driver in Redfern-Waterloo’s economic growth over the
                                                                      next decade.
 03
27
     07:08 Annual Report




28




     Redfern-Waterloo’s Renewal
     National Indigenous Development Centre
     Following successful negotiations by the RWA for the sale      A number of organisations will be based at the Centre,
     of the former Redfern Public School from the Department of     including the Exodus Foundation, which will set up a tutorial
     Education and Training to the Indigenous Land Corporation      centre for young adolescents; the National Aboriginal Sports
     (ILC), the NSW Government gave planning approval in            Corporation Australia, which runs several sporting and life
     October 2007 for a new $30 million sports, education and       development programs for Indigenous people; and the
     community centre on the site of the former school to provide   Lloyd McDermott Rugby Development Team, an organisation
     a range of learning, recreation and employment opportunities   providing opportunities for Indigenous youth to become
     for local families.                                            involved in various team sports.

     The National Indigenous Development Centre will include:       The project will deliver 20 construction jobs for Aboriginal
                                                                    workers as part of the RWA’s Indigenous Employment Model
     • A three-storey multi-purpose sport and recreational          and is expected to be fully complete in 2009.
      facility with gymnasium and heated pool
     • A multi-code football field
     • Refurbishment of four existing heritage-listed
      school buildings
     • Extensive landscaping including the planting of 100 trees
                                                                                                             Redfern-Waterloo Authority




                                                                                                                                          29




Residential Development
Following the RWA’s sale of the former Rachel Forster Hospital    The 106 new dwellings will replacing the existing homes on
site on the corner of Pitt and Albert Streets in Redfern, the     the site which were built in 1953. The proposal consists of
Planning Minister announced the approval of a concept             40 terraced family homes with backyards, medium-density
plan for a $70 million residential redevelopment in October       units and custom-made apartments for the elderly. There will
2007 which will deliver up to 150 new residential dwellings       also be communal recreation areas and parklands along with
and more than 1000sqm of public open space. Important             environmentally-sustainable initiatives such as water tanks
heritage items such as the existing surgery building and          and energy saving inclusions.
colonnade structure will be retained and integrated into the
development. The Plan includes four residential buildings         Current residents are being offered alternative housing in
ranging from three to six storeys. An additional level will       the area and will have the option of returning to new housing
be allowed on the existing heritage building and three new        appropriate to their needs within the new development. Once
detached residential buildings over a two level basement car      approved, the 18-month project is expected to commence in
park. As part of the approval process, the proponent will be      early 2008.
required to lodge a project application that is consistent with
the concept plan and provide a contribution for the delivery      The area will also be enhanced by the sale of adjoining
of affordable housing and public works in the area.               Department land for the development of a further 158 private
                                                                  dwellings, the sale of which will contribute to the cost of the
The RWA also welcomes a significant investment by Housing          new public housing.
NSW in a public housing redevelopment in Redfern’s Elizabeth
Street. The Department lodged a development application for
the $27 million project in June 2007.
     07:08 Annual Report




30




     Redfern-Waterloo’s Renewal
     Community Health Centre
     In January 2007, the RWA and NSW Health formed a Project           It will create up to 94 full-time jobs in the area, lead to the
     Control Group for the adaptive re-use of the former Redfern        adaptive reuse of a significant building and deliver a range
     Courthouse and Police Station in Redfern Street as a $10           of important health benefits to local families.
     million Community Health Centre.
                                                                        Through projects such as this, the community is beginning
     RWA’s concept planning and sale of the former Rachel Forster       to see the results of the Human Services Plan (Phase
     Hospital site (located on the corner of Pitt and Albert Streets,   Two) which aims to provide improved services for older
     Redfern) has provided funding for the NSW Government’s new         people, people with disabilities, migrant communities and
     $10 million Community Health Centre announced in July 2008.        homeless people in the local area. Phase Two of the Human
                                                                        Services Plan identifies specific challenges faced by these
     The project is funded by the sale of the former Rachel Forster     sections of the local community and the development of the
     Hospital site which was negotiated by the RWA early in 2008.       new Community Health Centre is another step forward in
     Development was approved by the NSW Government in July and         addressing these challenges.
     is expected to become fully operational in 2009 and provide a
     comprehensive range of community services including those in
     key areas such as drug counselling and mental health.
                                                                                                          Redfern-Waterloo Authority




                                                                                                                                       31




North Eveleigh Training Centre
Initiated and funded by the RWA, the North Eveleigh Training     Gaming Service (RGS). The quality and scope of the training
Centre is a key component of the RWA’s Employment and            provides graduates with the qualifications and experience
Enterprise Plan.                                                 necessary for employment in the restaurant and café sectors,
                                                                 tourism operations, clubs, hotels and catering enterprises.
The Yaama Dhiyaan Training & Hospitality College opened
its doors in October 2006 to offer a unique learning             Located beneath Yaama Dhiyaan is the Les Tobler
experience. An initiative of the RWA in partnership with         Construction Training Centre. A partnership of the RWA and
Aboriginal elder Aunty Beryl Van-Oploo, and young Aboriginal     TAFE NSW, the Centre is named in honour of Les Tobler, who
chef, Mathew Crib, the centre offers an accredited hospitality   was instrumental in establishing the first Job Ready Program
training course.                                                 and involved in recruiting unemployed Aboriginal and Torres
                                                                 Strait Islanders for pre-employment programs. On completing
The courses teach students the basics of hospitality and         the courses, graduates can expect to be offered employment
specialise in indigenous Australian cuisine. Graduates           on various Redfern-Waterloo building projects through the
then receive certification in Kitchen Operations, Barista,        RWA’s Indigenous Employment Model.
Responsible Service of Alcohol (RSA) and Responsible
     07:08 Annual Report




32




     North Eveleigh Concept Plan
     A major part of the RWA’s commitment to Redfern-Waterloo’s      The enlivened precinct will be facilitated by the sale and
     urban renewal is the proposed redevelopment of the North        development of surplus lands in the area, the marketing of
     Eveleigh precinct, which is destined to become an exciting      remaining development sites at Australian Technology Park,
     residential, commercial and cultural community over the         the construction of a major pedestrian / cycle bridge linking
     next 10 years.                                                  both sides of the rail corridor and a significant upgrade of
                                                                     adjoining Redfern Station.
     More than 15 percent of the site will be publicly accessible
     open space with up to seven heritage buildings retained         It is proposed that the $6m pedestrian/cycle bridge linking
     and adaptively reused (including the main CarriageWorks         the Eveleigh Precinct with ATP will be part of the upgrade.
     building).                                                      The capital works will provide easy access, improve
                                                                     passenger and staff safety, achieve a capacity upgrade to
     The proposal will create residential floor space equal to        meet future passenger demand and facilitate commercial
     approximately 1260 new homes and more than 87,000sqm            and retail development surrounding the station. This will also
     of floor space for cultural, commercial and retail uses          enhance proposed development in the Eveleigh precinct and
     accommodating some 3270 permanent new jobs.                     minimise traffic impacts by promoting public transport usage.

     In a Concept plan lodged by the RWA and placed on public        The bridge will be known as the Eveleigh Heritage Walk
     exhibition between 1 May and 12 June 2008, the Plan             and is partly funded by a $6 million contribution from the
     seeks approval for a floor space equivalent to more than         RWA and its subsidiary ATP. Another aim of the bridge is to
     181,000sqm. A significant portion of the site will be retained   provide a magnificent perspective of the rail history of the
     in public ownership, which includes the Yaama Dhiyaan           area and facilitate the research and innovation zone linking
     Indigenous Training College, the CarriageWorks Performance      the University of Sydney and Australian Technology Park.
     Space, the Eveleigh Markets (former Blacksmiths’ Workshop)      Pedestrians will be able to cross between the northern and
     and the former Scientific Services Building on Wilson Street     southern sides of the rail corridor with the bridge linking
     which is proposed as a new community centre.                    Wilson Street, Darlington with the ATP and suburbs beyond.
                                                                                                          Redfern-Waterloo Authority




                                                                                                                                       33




This $1.3 billion investment in Eveleigh’s transformation       Blacksmiths’ Workshop
will result in:
                                                                An important element of the redeveloped North Eveleigh
• Up to 9300 people working permanently at ATP within           precinct is the Eveleigh Markets in the RWA’s $3 million
 5 – 10 years as a result of land permitting the construction   refurbishment of the heritage Blacksmiths’ Workshop.
 of 110,000sqm of commercial floor space to be progressively
 developed                                                      The markets will house 109 undercover stalls with a retail
                                                                emphasis on well-priced food and produce. Arts and crafts
• Up to 3270 people working permanently at North Eveleigh       will also be a feature and significant local employment
 within 5 – 7 years following the RWA’s concept planning        opportunities are expected to be generated. The markets
 and sale of surplus land on the site later this year           will operate alongside the Contemporary Performing Arts
                                                                Centre and the Yaama Dhiyaan Training Centre and commence
• 2400 residents living in 1260 new dwellings including         weekend operation before the end of 2008.
 affordable rental housing

• Environmental sustainability, new open space, community
 and cultural facilities and retention and adaptive reuse of    The North Eveleigh redevelopment is expected to generate
 heritage buildings                                             3,300 construction jobs – more than 300 of which will
                                                                be allocated for Indigenous workers under the RWA’s
• A major upgrade of Redfern Railway Station including a        Indigenous Employment Model.
 pedestrian / cycle bridge to improve access and provide
 vital connectivity between North Eveleigh and the ATP
     07:08 Annual Report




34




     Redfern/ Regent Streets Upgrade
     The Redfern and Regent Streets upgrade was part of a major   • A new civic place and art installation at Jack Floyd Reserve;
     initiative by the City of Sydney to revitalise the Redfern    and
     district and create a more vibrant, active and safe public
     domain. Works were completed in September 2007.              • Shared traffic/pedestrian/cycle zones in lanes adjacent to
                                                                   Redfern Street.
     The beautification between Elizabeth and Regent Streets
     has delivered key streetscape improvements such as:          As part of the RWA’s groundbreaking Indigenous Employment
                                                                  Model the contractor for the upgrade (along with the Redfern
     • Wider footpaths with new paving and more trees;            Park redevelopment) created a number of apprenticeships,
                                                                  traineeships and labouring positions specifically for
     • New street furniture and decorative lighting;              Aboriginal persons.
“The community gardens are a place local residents
 can get to know each other and socialise”
  Mabel Chang, Waterloo community representative and Cook Community Gardens co-founder

                                                                                                                                                03
                                                                                                                                               35




A local representative on the RWA’s Human Services Ministerial Advisory Committee, Mabel (May Shoo) Chang helps organise many events
for residents of the Waterloo community and was a founder of the Cook Community Garden which, this year, celebrated its 11th anniversary.
The Community Gardens project on the Waterloo Public Housing Estate started in 1996 as an initiative of Housing NSW, South Sydney Council
and the UNSW. The Cook Community Garden on the corner of Pitt and Raglan Streets (the first of four on the Estate) was built in 1997 and
makes use of organic gardening techniques.
Mabel came to Australia from Burma in 1988 bringing with her a heritage of ‘nurturing the earth’, which allowed her to see the potential of
the land around her. As a result of the gardens she installed around her own block of units on the public housing estate and for her work in
establishing and serving on management committees of the community gardens in the area, Mabel has received an award from Sydney City
Council for Best Environmentally Friendly Garden in a Multi-Dwelling Residence every year since 1999.
Mabel says the community gardens have improved life on the estate by enhancing the public space and providing a means for local residents
to get to know each other, socialise and develop a better understanding of their cultural differences.
     07:08 Annual Report




36




     Other Development
     Black Theatre Site
     The Indigenous Land Corporation’s $8m development of         The Gadigal Information Service was established and became
     the former Black Theatre site in Cope Street, Redfern was    an incorporated Aboriginal association in 1993 to provide a
     completed in June 2008. Vacant for two decades, it was       community based media, arts and information service for
     originally the home of Sydney’s first Aboriginal theatre.     Sydney’s Indigenous community and includes 93.7FM Koori
                                                                  Radio 2LND – the city’s only full-time Aboriginal and Torres
     The new three-storey building includes retail space, office   Strait Islander community radio station.
     accommodation and the Gadigal Information Services’
     radio station and recording studios.                         The striking façade of the new building showcases a
                                                                  commissioned artwork by Aboriginal artist, Adam Hill, which
                                                                  acknowledges the site’s Indigenous history and reflects
                                                                  the renewed optimism of people throughout the Redfern-
                                                                  Waterloo community.
“We’ve had a great success rate with around 600
 people having come through our training programs.”
 Rob Roberts, sales representative with Redfern’s Tribal Warrior Association

                                                                                                                                                    03
                                                                                                                                                   37




 A non-profit local Indigenous enterprise owned and managed by Aboriginal Elders and grassroots community members, Redfern’s Tribal Warrior
 Association provides certified maritime training, employment opportunities and mentoring to underprivileged Aboriginal and non-Aboriginal
 people – particularly Aboriginal youth.

 ‘Tribal Warrior’ is the name of the first Aboriginal-manned vessel to circumnavigate Australia (it’s also officially the country’s oldest working
 timber boat) and visited many Aboriginal communities during its 648-day journey (August 2001 – June 2003). In 2006, the Association began
 conducting Australia’s first ever Aboriginal-owned and operated cultural cruises of Sydney Harbour aboard both its flagship gaff-rigged ketch
 and the ‘Deerubbin’.

 The idea for the Association sprung from a group of concerned local Aboriginals who decided to do something about the cycle of self-destruction
 amongst people in its own community. Since the training programs began in 1999, almost 600 people have gained employment in the
 maritime industries.
     07:08 Annual Report



     Sponsorships/Grants provided by the
     Redfern-Waterloo Authority



38




     2007/2008 Financial Year commencing 1st July 2007
     Notes To Financial Statements For The Financial Year Ended 30 June 2008

     Organisation                                  Date       Purpose                                                    Amount
                                                               Notes     Consolidated      Consolidated          RWA          RWA
     Cook Community Garden,                                   Catering assistance 10th anniversary celebrations
                                                  4-Jul-07                       2007             2006          2007         2006
                                                                                                                          $200.00
     Waterloo Public Housing Estate                           Cook Community Garden
                                                                                 $’000             $’000         $’000       $’000
      The UNSW Community
                                                 22-Aug-07    Catering Assistance for the Asian Moon Festival             $200.00
     3     REVENUES
      Development Project

             (a)Operating Revenue                             Financial assistance for polo shirts for the
     Waterloo Storm ARLFC                        10-Sep-07                                                                $960.00
                                                              NSW Aboriginal Knockout
             Property management                                                 9,435             8,623          766          767
                                                              Donation for the School for the Xmas
          Conferencing
     Alexandria Park Community School             16-Oct-07                     4,003            2,842               -    $200.00 -
                                                              card competition
                                                                                13,438             11,465         766          767
                                                              Sponsorship for Waterloo Storm for the
     Waterloo Storm ARLFC                        25-Oct-07                                                               $2,700.00
                                                              NSW Aboriginal Knockout
             (b)Investment Income
                                                              Sponsorship for transport to Newcastle for
     Redfern All Blacks
          Interest income on bank balances       25-Oct-07                       1,861           1,434            392     $300.00
                                                                                                                              339
                                                              a netball tournament
             Unwinding of discount related to finance lease    Being donations RE: Fundraising Gala Events on
     Achieve Foundation subsidiary
          receivable from                         1-Nov-07                          -                 -           240     $500.00
                                                                                                                              227
                                                              the 1/11/07
                                                                                1,861            1,434
                                                              Sponsoring kids xmas party on the block             632          566
     Babana Aboriginal Men’s Group               13-Nov-07                                                                $950.00
                                                              celebrations
             (c)Grants and Contributions
                                                              Funding for the Waterloo Summer on the Green
     The Factory Community Centre                16-Nov-07                                                                $500.00
             Government agencies                              Celebrations      6,731          4,590       7,520             7,194
     South Sydney Blind Community                             Catering assistance for a Christmas party for
           (d) Other Income                      21-Nov-07                                                                $200.00
     and Friends                                              the blind community and friends
             Sundry Income                                                         600                681         269          217
     Save the Children                           21-Nov-07    Catering assistance for Playbus Christmas party             $200.00
             Changes in fair value of investment property
             measured at fair value through income statement Catering Assistance for the Russia Group Annual
     The Factory Community Centre                 6-Dec-07                    33,800             9,350     33,380            5,350
                                                                                                                          $200.00
                                                              community event
                                                                                34,400             10,031       33,649       5,567
                                                              Financial Assistance for 2 Basket ball teams
     Aboriginal Dance Theatre Redfern            20-Dec-07    10s & 14s to participate in basketball events              $6,000.00
                                                              in Redfern Waterloo area

                                                              Sponsorship for a Karate Program at
     Aboriginal Justice Advisory Council         21-Dec-07                                                               $4,620.00
                                                              the Settlement

                                                              Sponsorship to the Waterloo Storm for a
     Waterloo Storm Rugby Union                   30-Jan-08   Rugby Union Tournament in Coffs Harbour                    $2,000.00
                                                              – Nomination fees
                                                                                                          Redfern-Waterloo Authority



Sponsorships/Grants provided by the
Redfern-Waterloo Authority



                                                                                                                                       39




Notes To Financial Statements For The Financial Year Ended 30 June 2008
2007/2008 Financial Year commencing 1st July 2007

Organisation                                   Date       Purpose                                                     Amount
                                                            Notes    Consolidated      Consolidated         RWA              RWA
South Sydney Community Transport             26-Feb-08                       for Tenant forums in Redfern 2007
                                                          Catering Assistance2007            2006                         2006
                                                                                                                       $200.00

                                                                             $’000             $’000      $’000            $’000
Inner City Mobile Play Bus                   12-Mar-08    Sponsorship for the World Kids Colour Day                    $200.00
      (e)Profit for the year
     Profit has been arrived at after charging/            Sponsorship for Playgroups in the park for
Connect Redfern                             12-Mar-08                                                                $3,000.00
     (crediting) the following losses/(gains):            April & May

                                                          Catering Assistance for the Chinese New Years
      Allowance/(Write-back
The Factory Community Centre of allownce) for doubtful
                                            13-Mar-08                           15               27              -     $200.00 -
                                                          Festival
     debts
                                                          Catering Assistance for the Chinese New Years
      Auditors remuneration
The Factory Community Centre                 13-Mar-08                          89               93            31            41
                                                                                                                       $100.00
                                                          Festival
     Depreciation of property, plant and
The Factory Community Centre
      equipment                              18-Mar-08    Catering Assistance 687                515           97      $200.00
                                                                                                                             22
     Employee benefit expenses
Coloured Digger Project –                                 Funding provide to assist with the hire of PA
                                             4-Apr-08                                                                $2,000.00
Babana Men’s group
     Salaries and wages                                   and other equipment
     (including recreation leave)                                            3,706             3,631         326               195
                                                          Sponsorship for uniforms for the Waterloo
Waterloo Storm Netball
     Superannuation                          29-Apr-08                                                                 $350.55
                                                          Storms netball side 244              195             16            11
     Long service leave                                                        110               110            -                 -
Ryans Cakes                                 15-May-08     Funding for non woven recycle bags                         $10,472.00
                                                                            4,060             3,936         342              206

                                             6-May-08
Mission Australia of discount related to finance lease
      Unwinding                                           Funding for BBQ                                              $184.05
     receivable from subsidiary                                                   -                -      ( 240)          ( 227)
Alexandria Park Community School             19-Jun-08    Funding for Art competition for NAIDOC week                  $600.00

Sponsorship of community member
                                                          Financial assistance to attend conference -
to   INCOME TAX Women’s Health
4 attend Indigenous EXPENSE                  20-Jun-08
                                                          Indigenous Women’s Health Meeting
                                                                                                                       $800.00
Meeting – sponsorship to attend meeting.
     On 16 February 2005, a private ruling was made in favour of the Company, where it was deemed that Section 24AM
                                                         Financial the imposition of income tax. The private rule will be in
      of ITAA 1936 will apply to exempt the Company’s income fromassistance to attend conference
Sponsorship of community member
      effect to the year ended 30 June       18-Sep-08 2007, another private ruling was Children’s
to attend the National Aboriginal and 2007. On 8 January – National Aboriginal and Islandermade in favour of the Company
                                                                                                                   $792.00
      extending the date of the
Islander Children’s Conference exemption to 30 June 2010. This applies only to the Company and not to the Redfern-
                                                         Conference
     Waterloo Authority.
                                            Throughout Funding for four Easy Cooking on a
SDN Children’s Services                                                                                              $8,000.00
                                           financial year Budget courses
     07:08 Annual Report



     Financials Redfern-Waterloo Authority




40
                                                              Redfern-Waterloo Authority



Financials Redfern-Waterloo Authority




                                                                                           41




Directors’ Statement
Statement by the Chairman and Chief Executive Officer on
the adoption of the financial statements for the year ended
30 June 2008.

Certificate under Section 41C of the Public Finance and
Audit Act 1983.

Pursuant to Section 41C (B) and 1 (C) of the Public Finance
and Audit Act 1983 and in our capacity as Chairman and
Chief Executive Officer of the Redfern-Waterloo Authority,
we declare that in our opinion:

The accompanying financial statements exhibit a true and
fair view of the financial position of the Redfern-Waterloo
Authority as at 30 June 2008 and transactions for the year
ended on that date. The statements have been prepared in
accordance with the provisions of the Public Finance and
Audit Regulation 2000 and the Treasurer’s Directions.

Further, we are not aware of any circumstances that would
render any particulars included in the financial statements
to be misleading or inaccurate.




Dr Col Gellatly
Chairman
Redfern-Waterloo Authority




Robert Domm
Chief Executive Officer
Redfern-Waterloo Authority

Sydney, dated this 15 October 2008
     07:08 Annual Report



     Financials Redfern-Waterloo Authority




42




      Income Statement For The Financial Year Ended 30 June 2008


                                                            Notes     Consolidated    Consolidated       RWA        RWA
                                                                             2008            2007       2008       2007
                                                                             $’000           $’000      $’000      $’000
     Continuing operations
     Revenue                                                 3(a)           17,284          15,299      1,442      1,398
     Grants and contribution                                 3(b)           10,113           6,731      7,045      7,520
     Other income                                            3(c)            6,411         34,400       1,831    33,649
                                                                           33,808          56,430      10,318    42,567


     Expenses
     Employee benefits expenses                                   5        ( 3,950)        ( 4,060)     ( 383)     ( 342)
     Personnel services                                                           -               -   ( 2,386)   ( 2,540)
     Administration expenses                                              ( 6,952)         ( 4,919)   ( 6,879)   ( 3,026)
     Depreciation and amortisation expenses                 12 & 13          ( 681)         ( 687)      ( 137)      ( 97)
     Other expenses                                          4 (a)        ( 10,742)        ( 4,674)          -          -
     Finance costs                                           4 (b)        ( 3,026)          ( 898)           -          -
                                                                          ( 25,351)       ( 15,238)   ( 9,785)   ( 6,005)
     Surplus for the year                                                    8,457          41,192        533    36,562
     The accompanying notes form part of these statements
                                                                                               Redfern-Waterloo Authority



Financials Redfern-Waterloo Authority




                                                                                                                            43




Balance Sheet For The Financial Year Ended 30 June 2008


                                                       Notes    Consolidated   Consolidated      RWA              RWA
                                                                       2008           2007      2008             2007
                                                                      $’000          $’000      $’000           $’000
CURRENT ASSETS
Cash and cash equivalents                                  7         32,802         31,334      5,975           6,882
Trade and other receivables                             8 (a)         2,784          2,141        677             454
Lease incentive asset                                      9            369             66          -               -
TOTAL CURRENT ASSETS                                                 35,955         33,541      6,652           7,336

NON CURRENT ASSETS
Lease receivables                                         10              -              -      7,305          6,284
Trade and other receivables                            8 (b)          4,564              -          -              -
Other financial assets                                     11              -              -     61,639         49,770
Investment Property                                       14        213,200        166,650    138,100        136,760
Property, plant and equipment                             12         11,756         41,532        812            530
Other intangible assets                                   13            140             33          3              5
Lease incentive asset                                      9          1,910             38          -              -
TOTAL NON CURRENT ASSETS                                            231,570        208,253    207,859        193,349

TOTAL ASSETS                                                        267,525        241,794    214,511        200,685

CURRENT LIABILITIES
Trade and other payables                                  15         14,736          11,308     2,331            1,259
Borrowings                                                17            352               -       352                -
Provisions                                                16          2,334             656         -                -
TOTAL CURRENT LIABILITIES                                            17,422          11,964     2,683            1,259

NON CURRENT LIABILITIES
Provisions                                                16             54            107          -               -
Borrowings                                                17         40,174         28,305     40,174          28,305
TOTAL NON CURRENT LIABILITIES                                        40,228         28,412     40,174          28,305

TOTAL LIABILITIES                                                    57,650         40,376     42,857          29,564

NET ASSETS                                                          209,875        201,418    171,654          171,121

EQUITY
Accumulated funds                                         18        209,875        201,418    171,654          171,121

TOTAL EQUITY                                                        209,875        201,418    171,654          171,121
The accompanying notes form part of these statements
     07:08 Annual Report



     Financials Redfern-Waterloo Authority




44




      Statement of Recognised Income and Expense For The Financial Year Ended 30 June 2008

                                                             Notes   Consolidated   Consolidated   RWA      RWA
                                                                            2008           2007    2008     2007
                                                                           $’000          $’000    $’000    $’000


      Net income recognised directly in equity                                  -              -       -        -


      Surplus for the year                                                 8,457          41,192    533    36,562
      Total recognised income and expense for the year                     8,457          41,192    533    36,562


      Attributable to:
      Equity holders of the parent                                         8,457          41,192    533    36,562
      The accompanying notes form part of these statements
                                                                                                  Redfern-Waterloo Authority



Financials Redfern-Waterloo Authority




                                                                                                                               45




Cash Flow Statement For The Financial Year Ended 30 June 2008

                                                       Notes    Consolidated    Consolidated        RWA              RWA
                                                                       2008            2007        2008             2007
                                                                      $’000            $’000      $’000            $’000
Cash flows from Operating Activities
Receipts from customers                                               17,015          14,471       1,039              395
Government grants received                                            10,113           6,731       7,045            7,520
Payments to suppliers and employees                                 ( 18,188)       ( 10,376)   ( 8,995)        ( 5,988)
Interest paid                                                       ( 3,026)          ( 898)             -                -
Interest received                                                     2,298            1,861         421              392
Net cash from operating activities                     20 (b)          8,212          11,789      ( 490)            2,319


Cash flows from Investing Activities
Payments for property, plant and equipment
representing cash used in investing activities                      (18,965)        ( 31,738)      ( 417)          ( 560)
Net cash used in Investing Activities                              ( 18,965)        ( 31,738)      ( 417)          ( 560)


Cash flows from Financing Activities
Non-trade advances from parent entity                                       -               -   ( 12,221)      ( 24,255)
Proceeds of borrowing from NSW Treasury Corporation                   12,221         24,255       12,221          24,255
Net cash from Financing Activities                                    12,221         24,255              -                -


Net increase/(decrease) in cash held                                   1,468           4,306      ( 907)            1,759


Cash at the start of the financial year                                31,334         27,028       6,882             5,123


Cash at the end of the financial year                   20 (a)        32,802           31,334       5,975           6,882
The accompanying notes form part of these statements
     07:08 Annual Report



     Financials Redfern-Waterloo Authority




46




     Notes To Financial Statements For The Financial Year Ended 30 June 2008

     1 REPORTING ENTITY                                                The financial report has been prepared on the basis of
                                                                       full accrual accounting using historical cost accounting
     The Redfern-Waterloo Authority (the “Authority” or “RWA”)         conventions except for non-current physical assets,
     was established on 17 January 2005 to promote the                 investment properties and derivative financial instruments.
     development of the Redfern-Waterloo area into an active,
     vibrant, and sustainable community. The Authority also seeks      Except when an Australian Accounting Standard permits or
     to promote, support and respect the Aboriginal community in       requires otherwise, comparative information is disclosed in
     Redfern-Waterloo and to establish greater social cohesion and     respect of the previous period for all amounts reported in the
     community safety in the area.                                     financial report.

     The Authority, as a reporting entity, comprises all the           The financial report is presented in Australian Dollars
     entities under its control, including the commercial activities   rounded to nearest thousand.
     of the Australian Technology Park Precinct Management
     Limited (the Company) and the Office of Redfern-Waterloo           b) Principles of consolidation
     Authority (the “Office”).
                                                                       A controlled entity is any entity the Authority has the power
     The Company is wholly-owned subsidiary of the Authority           to control the financial and operating policies so as to obtain
     and it operates a scientific and technological research and        benefits from its activities.
     development park. The Authority through its subsidiary
     manages the commercial operations of the park which               All inter-entity balances and transactions between entities in
     include property management and development, and the              the economic entity, including any unrealised profits or losses,
     provision of convention and exhibition facilities. The Office      have been eliminated on consolidation. Accounting policies of
     is a wholly-owned subsidiary of the Authority which provides      subsidiaries have been changed where necessary to ensure
     personnel services to the Authority.                              consistencies with those policies applied by the parent entity.

     The financial report for the year ended 30 June 2008 has been      c) Significant accounting judgements, estimates
     authorised for issue by the Board on 15 October 2008.                and assumptions

     2 STATEMENT OF SIGNIFICANT                                           (i) Significant accounting judgement
       ACCOUNTING POLICIES                                                In the application of A-IFRS management is required to make
                                                                          judgments, estimates and assumptions about carrying values
     Set out below is a summary of the significant accounting              of assets and liabilities that are not readily apparent from
     policies adopted by the Authority.                                   other sources. The estimates and associated assumptions
                                                                          are based on historical experience and various other factors
     a) Basis of preparation                                              that are believed to be reasonable under the circumstance,
                                                                          the results of which form the basis of making the judgments.
     The financial report is a general purpose financial report             Actual results may differ from these estimates.
     which has been prepared in accordance with applicable
     Australian Accounting Standards, which include Australian            (ii) Significant accounting estimates and assumptions
     equivalents to International Financial Reporting Standards           The estimates and underlying assumptions are reviewed
     (AEIFRS), other authoritative pronouncements of the                  on an ongoing basis. Revisions to accounting estimates
     Australian Accounting Standards Board and the requirements           are recognised in the period in which the estimate is
     of the Public Finance and Audit Act 1983 and regulations and         revised if the revision affects only that period or in the
     Financial Reporting Directions issued by the Treasurer.              period of the revision and future periods if the revision
                                                                          affects both current and future periods.
                                                                                                             Redfern-Waterloo Authority



Financials Redfern-Waterloo Authority




                                                                                                                                          47




Notes To Financial Statements For The Financial Year Ended 30 June 2008

d) Revenue recognition                                            Long Service leave
                                                                  The liability for long service leave is recognised in the
Revenue is recognised to the extent that it is probable           provision for employee benefits and measured as the present
that the economic benefits will flow to the Reporting entity        value of expected future payments to be made in respect
and the revenue can be reliably measured. The following           of services provided by employees up to the reporting date
specific recognition criteria must also be met before revenue      using the actuarial valuation method. Consideration is
is recognised:                                                    given to expected future wage and salary levels, experience
                                                                  of employee departures and periods of service. Expected
   (i) Rendering of services                                      future payments are discounted using market yields at the
   Revenue from a contract to provide services is recognised      reporting date on national government bonds with terms to
   by reference to the stage of completion of the contract.       maturity and currency that match, as closely as possible, the
                                                                  estimated future cash outflows.
   Revenue is classified as rental revenue, revenue from
   conference centre activities and other. All revenue realised   Provision is made for benefits accruing to employees in
   by the Reporting entity is from its operating activities.      respect of wages and salaries, annual leave and long service
                                                                  leave, when it is probable that settlement will be required and
   (ii) Interest revenue                                          they are capable of being measured reliably.
   Interest revenue is recognised on a time proportionate
   basis that takes into account the effective yield on the       Retirement benefit obligations
   financial asset.                                                Superannuation schemes to which employees belong are
                                                                  fully funded, resulting in no liabilities to the Company.
   (iii) Grants                                                   Contributions are expensed when incurred.
   Government grants relating to income are recognised as
   income over the periods necessary to match them with the       Contributions to the defined contribution fund are recognised
   related costs. Government grants that are receivable as        as an expense as they become payable. Prepaid contributions
   compensation for expenses or losses already incurred or        are recognised as an asset to the extent that a cash refund or
   for the purpose of giving immediate financial support to        a reduction in the future payments is available.
   the Authority with no future related costs are recognised
   as income in the period in which it becomes receivable.        A Liability or asset of define benefits superannuation plans
                                                                  is recognised in the balance sheet, and is measured as the
   The Authority is a ‘Not for profit’ entity. Grants have         present value of the defined benefit obligation at the reporting
   been recognised as revenue in the year of receipt. Since       date less the fair value of the superannuation fund’s assets at
   the subsidiary is a profit entity and currently also the        that date and any unrecognised past service cost. The present
   dominant entity, the Authority’s Grant revenue applicable      value of the defined benefit obligations is based on expected
   to the future years has been eliminated on consolidation.      future payments which arise from membership of the fund
                                                                  to the reporting date, calculated annually by independent
e) Employee benefits                                               actuaries using the projected unit credit method. Consideration
                                                                  is given to expected future wage and salary levels, experience
Wages and Salaries, annual leave and sick leave                   of employee departures and periods of service.
Liabilities for wages and salaries, including non-monetary
benefits, annual leave and accumulating sick leave expected        Expected future payments are discounted using market
to be settled within twelve months of the reporting date          yields at the reporting date on national government bonds
are recognised in respect of employees’ service up to the         with terms to maturity and currency that match, as closely as
reporting date and are measured at the amounts expected to        possible, the estimated future cash outflows
be paid when the liabilities are settled.
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     Financials Redfern-Waterloo Authority




48




     Notes To Financial Statements For The Financial Year Ended 30 June 2008

     Retirement benefit obligations (Cont’d)                                Trust. For the purposes of the Cash Flow Statement, cash
     Actuarial gains and losses arising from experience adjustments        and cash equivalents consist of cash and cash equivalents as
     and changes in actuarial assumptions are recognised in the            defined above, net of outstanding bank overdrafts.
     period which they occur, outside profit or loss directly in the
     statement of recognised income and expense.                           i) Financial assets

     Past service costs are recognised immediately in income,              The classification of financial assets depends on the nature
     unless the changes to the superannuation fund are conditional         and purpose of the financial assets and is determined at the
     on the employees remaining in service for a specified period           time of initial recognition.
     of time (the vesting period). In this case, the past service costs
     are amortised on a straight-line basis over the vesting period.       j) Trade and other receivables

     f ) Insurance                                                         Trade receivables are recognised initially at fair value and
                                                                           subsequently measured at cost using the effective interest
     The Authority’s insurance activities are conducted through            method, less provision for impairment.
     the NSW Treasury Managed Fund of self-insurance for
     Government agencies. The expense (premium) is determined              Collectability of trade receivables is reviewed on an ongoing
     by the Fund Manager based on past experience.                         basis. Debts which are known to be uncollectible are written
                                                                           off by reducing the carrying amount directly. An allowance for
     g) Accounting for the goods and services tax (GST)                    impairment account is used when there is objective evidence
                                                                           that the corporation will not be able to collect all amounts due
     Revenues, expenses and assets are recognised net of the               according to the original terms of the receivables. Significant
     amount of goods and services tax (GST), except:                       financial difficulties of the debtor, probability that the debtor
                                                                           will enter bankruptcy or financial reorganisation, and default
     i. where the amount of GST incurred is not recoverable from           or delinquency in payments are considered indicators that the
         the taxation authority, it is recognised as part of the cost of   trade receivable is impaired.
         acquisition of an asset or as part of an item of expense; or
     ii. for receivables and payables which are recognised                 k) Investment property
          inclusive of GST.
                                                                           Investment properties are held to earn rentals and/or for
     The net amount of GST recoverable from, or payable to, the            capital appreciation. Investment properties are stated at fair
     taxation authority is included as part of receivables or payables.    value supported by market evidence at the balance date.
                                                                           Gains or losses arising from the changes in fair value are
     Cash flows are included in the statement of cash flows on a gross       included in the income statement in the period in which they
     basis. The GST component of cash flows arising from investing          arise. No depreciation is charged on investment properties.
     and financing activities which is recoverable from, or payable to,
     the taxation authority is classified as operating cash flows.
                                                                           l) Property, plant and equipment

                                                                           Property, Plant and Equipment is initially recognised at
     Commitments and contingencies are disclosed inclusive of the
                                                                           acquisition cost, including any costs directly attributable
     amount of GST recoverable from, or payable to, the taxation
                                                                           to the asset and any restoration costs associated with the
     authority.
                                                                           asset. Cost is the amount of cash or cash equivalents paid or
                                                                           the fair value of the other consideration given to acquire the
     h) Cash and cash equivalents
                                                                           asset at the time of its acquisition or construction or, where
                                                                           applicable, the amount attributed to that asset when initially
     Cash and short-term deposits in the balance sheet comprise
                                                                           recognised in accordance with the specific requirements of
     cash at bank and in hand, short-term deposits with an
                                                                           other Australian Accounting Standards. Assets acquired at no
     original maturity of three months or less and investments in
                                                                           cost or for nominal consideration are initially recognised at
     NSW Treasury Corporation’s (TCorp) Hour-Glass Cash Facility
                                                                           their fair value at the date of acquisition.
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                                                                                                                                             49




Notes To Financial Statements For The Financial Year Ended 30 June 2008

Fair value is the amount for which an asset could be                n) Capitalisation thresholds
exchanged between knowledgeable, willing parties in an
arm’s length transaction.                                           Property, plant and equipment, and intangible assets costing
                                                                    $5,000 and above individually (or forming part of a network
Depreciation is provided on all property, plant and                 costing more than $5,000) are capitalised.
equipment excluding work-in-progress and Art and Artefacts.
Depreciation is calculated on a straight line basis so as to        o) Impairment of assets
write off the net cost of each asset over its expected useful
life to its estimated residual value. Leasehold improvements        At each reporting date, the Reporting entity reviews the
are depreciated over the period of the lease or estimated           carrying amounts of its tangible and intangible assets to
useful life, whichever is the shorter, using the straight line      determine whether there is any indication that those assets
method. The estimated useful lives, residual values and             have suffered an impairment loss. If any such indication
depreciation method are reviewed at the end of each annual          exists, the recoverable amount of the asset is estimated
reporting period.                                                   in order to determine the extent of the impairment loss (if
                                                                    any). Where the asset does not generate cash flows that
The following estimated useful lives are used in the                are independent from other assets, the Reporting entity
calculation of depreciation:                                        estimates the recoverable amount of the cash-generating unit
                                                                    to which the asset belongs.
• Furniture and fittings                                 4-5 years
• Plant and equipment                                   3-4 years   Recoverable amount is the higher of fair value less costs to
• Leasehold improvements                                       **   sell and value in use. In assessing value in use, the estimated
** Shorter of the period of the lease or useful life.               future cash flows are discounted to their present value
                                                                    using a pre-tax discount rate that reflects current market
m) Acquisitions of assets                                           assessments of the time value of money and the risks specific
                                                                    to the asset for which the estimates of future cash flows have
The cost method of accounting is used for the initial recording     not been adjusted.
of all acquisitions of assets controlled by the Authority.
Cost is the amount of cash or cash equivalents paid or the          If the recoverable amount of an asset (or cash-generating
fair value of the other consideration given to acquire the          unit) is estimated to be less than its carrying amount, the
asset at the time of its acquisition or construction or, where      carrying amount of the asset (cash-generating unit) is
applicable, the amount attributed to that asset when initially      reduced to its recoverable amount. An impairment loss is
recognised in accordance with the specific requirements of           recognised in profit or loss immediately, unless the relevant
other Australian Accounting Standards.                              asset is carried at fair value, in which case the impairment
                                                                    loss is treated as a revaluation decrease.
Assets acquired at no cost, or for nominal consideration, are
initially recognised as assets and revenues at their fair value     Where an impairment loss subsequently reverses, the
at the date of acquisition. (see also assets transferred as a       carrying amount of the asset (cash-generating unit) is
result of an administrative restructure as detailed in Note (w)).   increased to the revised estimate of its recoverable amount,
                                                                    but only to the extent that the increased carrying amount
Fair value means the amount for which an asset could be             does not exceed the carrying amount that would have been
exchanged between knowledgeable, willing parties in an              determined had no impairment loss been recognised for
arm’s length transaction.                                           the asset (cash-generating unit) in prior years. A reversal of
                                                                    an impairment loss is recognised in the income statement
Where payment for an item is deferred beyond normal                 immediately, unless the relevant asset is carried at fair value,
credit terms, its cost is the cash price equivalent, i.e. the       in which case the reversal of the impairment loss is treated as
deferred payment amount is effectively discounted at an             a revaluation increase.
asset-specific rate.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008

     p) Income tax                                                     Onerous contracts
                                                                       An onerous contract is considered to exist where the
     On 16 February 2005, a private ruling was made in favour of the   Reporting entity has a contract under which the unavoidable
     Company, where it was deemed that Section 24AM of Income          cost of meeting the contractual obligations exceed the
     Tax Assessment Act 1936 will apply to exempt the company’s        economic benefits estimated to be received. Present
     income from the imposition of income tax. The private rule will   obligations arising under onerous contracts are recognised as
     be in effect to the year ended 30 June 2007. On 8 January 2007,   a provision to the extent that the present obligation exceeds
     another private ruling was made in favour of the Company          the economic benefits estimated to be received.
     extending the date of the exemption to 30 June 2010. This
     applies only to the Company and not to the Authority.             There are no onerous contract for the financial year ended 30
                                                                       June 2008 or the prior year.
     q) Trade and other payables
                                                                       s) Borrowings and borrowing costs
     Trade and other payables are carried at amortised costs and
     represent liabilities for goods and services provided to the      Borrowings are initially recognised at fair value, net of
     Reporting entity prior to the end of the financial year that       transactions costs. Borrowings are subsequently measured at
     are unpaid and arise when the company becomes obliged to          amortised cost. Any difference between the proceeds (net of
     make future payments resulting from the purchase of goods         transaction costs) and the redemption amount is recognised
     and services. The average credit period is 30 days.               in the income statement, over the period of the borrowings,
                                                                       using the effective interest method.
     r) Provisions
                                                                       t) Leased assets
     Provisions are recognised when the Reporting entity has a
     present obligation, the future sacrifice of economic benefits       Leases are classified as finance leases whenever the terms
     is probable, and the amount of the provision can be               of the lease transfer substantially all the risks and rewards
     measured reliably.                                                of ownership to the lessee. All other leases are classified as
                                                                       operating leases.
     The amount recognised as a provision is the best estimate of
     the consideration required to settle the present obligation at    The Authority as lessor
     reporting date, taking into account the risks and uncertainties   Rental income from operating leases is recognised on a
     surrounding the obligation. Where a provision is measured         straight-line basis over the term of the relevant lease.
     using the cash flows estimated to settle the present
     obligation, its carrying amount is the present value of those     Lease incentives
     cash flows. Provisions are discounted using a current pre-tax      In the event that lease incentives are received to enter into
     rate that reflects the risks specific to the liability.             operating leases, such incentives are recognised as a liability.
                                                                       The aggregate benefits of incentives are recognised as a
     When some or all of the economic benefits required to settle       reduction of rental expense on a straight-line basis, except
     a provision are expected to be recovered from a third party,      where another systematic basis is more representative of
     the receivable is recognised as an asset if it is probable that   the time pattern in which economic benefits from the leased
     recovery will be received and the amount of the receivable        asset are consumed.
     can be measured reliably.
                                                                       u) Restoration costs

                                                                       The estimated cost of dismantling and removing an asset and
                                                                       restoring the site is included in the cost of an asset, to the
                                                                       extent it is recognised as a liability.
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Notes To Financial Statements For The Financial Year Ended 30 June 2008

v) Maintenance and repairs                                      • AASB 1004 (Dec 2007) regarding contributions (1 July 2008);


The costs of day-to-day servicing costs or maintenance are      • AASB 1049 (Oct 2007) regarding the whole of government
charged as expenses as incurred, except where they relate to     and general government sector financial reporting
the replacement of a component of an asset, in which case        (1 July 2008);
the costs are capitalised and depreciated.
                                                                • AASB 1050 (Dec 2007) regarding administered items
w) Equity transfers                                              (1 July 2008);

The transfer of net assets between agencies as a result of      • AASB 1051 (Dec 2007) regarding land under roads
an administrative restructure, transfers of programs/            (1 July 2008);
functions and parts thereof between NSW public sector
agencies are designated as a contribution by owners             • AASB 1052 (Dec 2007) regarding disaggregated disclosures
by NSWTC 01/11 and are recognised as an adjustment               (1 July 2008);
to Retained Earnings. This treatment is consistent with
Interpretation 1038 “Contributions by Owners Made to            • AASB 2007-9 regarding amendments arising from the review
Wholly Owned Public Sector Entities”.                            of AASs 27, 29 and 31 (1 July 2008);

Transfers arising from an administrative restructure            • AASB 2008-1 regarding share based payments
between government departments are recognised at the             (1 January 2009);
amount at which the asset was recognised by the transferor
government department immediately prior to the restructure.     • AASB 2008-2 regarding puttable financial instruments
In most instances this will approximate fair value. All other    (1 January 2009);
equity transfers are recognised at fair value.
                                                                • Interpretation 4 (Feb 2007) regarding determining whether
x) Accounting standards and Interpretations issued               an arrangement contains a lease (1 January 2008);
   and not yet effective
                                                                • Interpretation 12 and AASB 2007-2 regarding service
Certain new accounting standards and interpretations have        concession arrangements (1 January 2008);
been published that are not mandatory for 30 June 2008
reporting periods. The following new Accounting Standards       • Interpretation 13 on customer loyalty programmes
and Interpretations have not yet been adopted and are not        (1 July 2008);
yet effective:
                                                                • Interpretation 14 regarding the limit on a defined benefit
• AASB 3 (March 2008), AASB 127 and AASB 2008-3 regarding        asset (1 January 2008);
 business combinations (1 July 2009);
                                                                • Interpretation 129 (Feb 2007) regarding service concession
• AASB 8 and AASB 2007-3 regarding operating segments (1         disclosures (1 January 2008);
 January 2009);
                                                                • Interpretation 1038 (Dec 2007) regarding contributions by
• AASB 101 (Sept 2007) and AASB 2007-8 regarding                 owners (1 July 2008).
 presentation of financial statements (1 January 2009);
                                                                It is considered that the impact of these new Standards
• AASB 123 (June 2007) and AASB 2007-6 regarding                and Interpretations in future periods will have no material
 borrowing costs (1 January 2009);                              impact on the financial report of the Authority and the
                                                                Consolidated entity.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                       Consolidated   Consolidated   RWA       RWA
                                                                              2008           2007    2008     2007
                                                                             $’000          $’000    $’000    $’000
     3      REVENUES
            An analysis of the Consolidated entity’s revenue from
            continuing operations is as follows:

            (a) Operating Revenue
            Property management                                             10,283          9,435     766      766
            Conferencing                                                     4,703          4,003        -        -
                                                                            14,986         13,438     766      766


            Interest revenue
            Bank deposits                                                      173             59       10        -
            NSW Treasury Corporation Hour-Glass cash facility                 2,125         1,802     413      392

            Unwinding of discount related to finance lease
            receivable from subsidiary                                            -              -    253      240
                                                                             2,298           1,861    676      632
                                                                            17,284         15,299    1,442    1,398


            (b) Grants and Contributions
            Government agencies                                              10,113          6,731   7,045    7,520


            (c) Other Income
            Sundry Income                                                      956            600     491      269

            Changes in fair value of investment property measured at
            fair value through income statement                              5,455         33,800    1,340   33,380
                                                                              6,411        34,400    1,831   33,649
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Notes To Financial Statements For The Financial Year Ended 30 June 2008


4    (a) DETAILS OF OTHER EXPENSES
                                                                                      2008             2007
     Conferencing cost of sales                                                      2,207            1,889
     Property Expenses                                                                 847               756
     Repairs and maintenance                                                          1,281            1,123
     Cleaning                                                                          257               286
     Security                                                                          650               620
     Land remediation costs                                                          5,500                   -
                                                                                     10,742           4,674



                                                       Consolidated   Consolidated     RWA              RWA
                                                              2008           2007     2008              2007
                                                             $’000          $’000     $’000            $’000
    (b) Finance costs
    Interest on borrowings carried at amortised cost         3,026            898            -                -
                                                             3,026            898            -                -
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                        Consolidated    Consolidated         RWA         RWA
                                                                                2008            2007        2008        2007
                                                                               $’000           $’000        $’000       $’000
     5      PROFIT FOR THE YEAR
            Profit has been arrived at after charging/(crediting)
            the following

            losses/(gains):
            Allowance for impairments on receivables                                2              15            -              -
            Auditor’s remuneration                                                 83             89           27          31
            Depreciation of property, plant and equipment                        543             687             -         97


            Employee benefit expenses
              Salaries and wages (including recreation leave)                  3,586           3,706          365         326
              Superannuation                                                     327             244           18          16
              Long service leave                                                   37             110            -              -
                                                                               3,950           4,060         383          342


            Land remediation expenses on the Channel 7 site at ATP             5,500                -            -              -

            Unwinding of discount related to finance lease receivable
            from subsidiary                                                         -               -      ( 253)      ( 240)




     6      INCOME TAX EXPENSE
            On 16 February 2005, a private ruling was made in favour of the Company, where it was deemed that Section
            24AM of Income Tax Assessment Act 1936 will apply to exempt the company’s income from the imposition of
            income tax. The private rule will be in effect to the year ended 30 June 2007. On 8 January 2007, another private
            ruling was made in favour of the Company extending the date of the exemption to 30 June 2010. This applies only
            to the Company and not to the Redfern-Waterloo Authority.
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Financials Redfern-Waterloo Authority




                                                                                                                                 55




Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                 Consolidated    Consolidated         RWA             RWA
                                                                         2008            2007        2008             2007
                                                                        $’000           $’000       $’000            $’000
7   CASH AND CASH EQUIVALENTS
    Cash on hand and at bank                                              865             172         685                  5
    Demand deposits                                                       485             485              -                -
    Investment in NSW Treasury Corporation “Hour-Glass”
    cash facility                                                      31,452          30,677       5,290            6,877
                                                                      32,802           31,334       5,975           6,882


    Demand deposits are held with the Commonwealth Bank of Australia and represent money received as bond
    for the rental space at the Australian Technology Park. This amount will be refunded back to the tenant on the
    termination of the lease.

    The Authority has investments with the NSW Treasury Corporation’s Hour-Glass facilities. The investment is
    represented by a number of units of a management investment pool with each particular pool having different
    horizons and being comprised of a mix of asset classes appropriate to that investment horizon. NSW Treasury
    Corporation appoints and monitors the application of appropriate investment guidelines.

    The investment is generally able to be redeemed daily by 11am. The value of the investment held can decrease as
    well as increase depending on market conditions. The value of the above investment represents the company’s
    share of the value of the underlying assets of the facility, and those assets as stated at net value. The weighted
    average rate of return on these investments during the year was 6.82% (2007: 6.41%)
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                         Consolidated     Consolidated        RWA          RWA
                                                                                 2008            2007        2008          2007
                                                                                $’000           $’000        $’000       $’000
     8      RECEIVABLES
            Current
            Trade receivables (i)                                                1,152           1,169          49           85
            Other debtors (ii)                                                    371                 -           -        299
            Interest bearing loan receivable from the subsidiary                      -               -        352               -
            Goods and services tax recoverable                                   1,138            982          112           50
            Prepayments                                                           187               54         164           20
                                                                                2,848           2,205          677         454
            Allowance for impairments on receivables                             ( 64)           ( 64)            -              -
                                                                                2,784            2,141         677         454


            Non current
            Other debtors (ii)                                                  4,564                 -           -              -
                                                                                4,564                 -           -              -


     (i)    The average credit period extended by the Company on rental payments and on conference activity services is 7 days
            and by the Authority on conference activity services is 30 days. No interest is charged on the overdue invoices.

            Of the total $1,152k (2007: $1,169k) of the Consolidated Entity’s trade receivables, $202k (2007: $242k) are
            current with an average of 4 days. Management considers that there are no indications as of the reporting date
            that the debtors will not meet their payment obligations.

            An allowance has been made for estimated irrecoverable trade receivable amounts arising from the past
            rendering of services, determined by reference to past default experience. The company reviews all its debts
            irrespective of the age and a provision for debts if necessary is made in the books.

            Movement in allowance for impairments on receivables during the period:
            Balance at the beginning of the financial year                          64              49             -              -
            Impairment losses recognised on receivables                               7             17           5               -
            Bad debts written off                                                  ( 7)            ( 2)        ( 5)              -
            Balance at the end of the financial year                                64              64             -              -
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                                                                                                                                     57




Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                    Consolidated     Consolidated        RWA              RWA
                                                                            2008             2007        2008             2007
                                                                            $’000           $’000       $’000            $’000

       Lettable area at the ATP is leased to new customers who fit the selection criteria and the company also has a policy
       of collecting 3-6 months rental as bond before the commencement of the lease. The customers in the conference
       centre normally pay almost 90% of the total event invoice in advance of the event happening. The revenue stream
       for the Authority mainly consists of collecting contribution levy’s and Government grants against which there can
       be no doubtful debts.

       Of the trade receivables balance at the end of the year, $67k (2007 - $377k) is due from General Government
       entities, which makes up 6% (2007 - 28 %) of the total balance and $10k (2007 - $93k) is due from Public Trading
       Enterprises, amounting to 1% of trade receivables balance (2007 - 8%)

       Included in the Consolidated Entity’s trade receivable balances are debtors with a carrying amount of $948k
       (2007 - $901k) which are past due at the reporting date for which the Consolidated Entity has not provided
       as there has not been significant change in credit quality and the amounts are still considered recoverable.
       The Consolidated Entity does not hold collateral over these balances.

       Ageing of past due but not impaired
       Less than 3 months overdue                                             906             892           25                14
       3 to 6 months overdue                                                    8               4              -                1
       later than 6 months overdue                                             99                5            2                 -
                                                                            1,012             901           27                15

       In determining the recoverability of a trade receivable, the Consolidated Entity considers any change in the credit
       quality of the trade receivable from the date credit was initially granted up to the reporting date.

       The concentration of credit risk is limited due to the customer base being large and unrelated Included in the
       allowance for impairments on receivables are individually impaired trade receivables of $64k.

       Ageing of impaired trade receivables
       Less than 3 months overdue                                                -               5             -                -
       3 to 6 months overdue                                                    2               15             -                -
       > 6 months overdue                                                      62              44              -                -
       Total                                                                   64              64              -                -


(ii)   During the year, the Consolidated Entity advanced a fixed 7.23% rate loan to the Department of Defence for a period
       of 10 years. The maturity date is 30 May 2018. The loan amount at the end of the financial year is $4.9m Management
       considers that the carrying amount of the loan best represents the maximum credit risk exposure at the balance sheet
       date and that there is no indication at that date that the counterparty will not meet its obligations.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                              Consolidated      Consolidated          RWA          RWA
                                                                                       2008             2007          2008         2007
                                                                                      $’000             $’000        $’000        $’000
     9      LEASE INCENTIVE ASSET
            Current lease incentive asset
            Lease incentive granted to lessees                                          369                66              -           -

            Non-current lease incentive asset
            Lease incentive granted to lessees                                         1,910               38              -           -


     10     LEASES
            Non-current lease receivables
            Finance lease receivables                                                       -                -       4,801        4,547
            Operating lease receivables                                                     -                -       2,504        1,737
                                                                                            -                -       7,305        6,284


            Finance lease relates to the Bio-medical Building by the Authority to the Company. The Company does not have
            the option to purchase the property at the conclusion of the lease agreement.

            Finance lease receivables
            Minimum lease receivables, later than 5 years*                                  -                -      30,525       30,525
            Less future finance charge                                                       -                -   ( 25,724)     ( 25,978)
            Present value of minimum lease receivables                                      -                -       4,801        4,547


            Included in the financial statements as:
            Non-current finance lease receivable                                             -                -       4,801        4,547
            * Minimum future lease receivables includes the aggregate of all lease payments and any guaranteed residual.

            Disclosures for the consolidated entity/Authority as lessor - operating leases
            Operating leases relate to the investment property owned by the consolidated entity/Authority referred to in Note
            14 to the financial statements. Lease terms range between 3 and 5 years, with options to extend. All operating
            lease contracts contain market review clauses in the event that the consolidated entity/Authority exercise their
            option to renew. The lessees do not have the option to purchase the property at the expiry of the lease period.
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Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                          Consolidated       Consolidated           RWA              RWA
                                                                                   2008               2007          2008             2007
                                                                                   $’000             $’000         $’000            $’000
     Non-cancellable operating lease receivables
     Not longer than 1 year                                                       10,473             4,649                -                -
     Longer than 1 year and not longer than 5 years                              25,285              5,043                -                -
     Longer than 5 years                                                          26,419            14,340        68,225          68,225
                                                                                  62,177            24,032        68,225          68,225

     Disclosures for the consolidated entity/Authority as lessee - operating leases
     The consolidated entity/Authority have various operating lease agreements for equipment and other facilities.
     Most leases contain renewable options. All operating lease contracts contain market review clauses in the event
     that the consolidated entity/Authority exercise their option to renew. The consolidated entity/Authority
     do not have an option to purchase the leased assets at the expiry of the lease period.


     Non-cancellable operating lease payments
     Not longer than 1 year                                                           35                108            35              108
     Longer than 1 year and not longer than 5 years                                      -               27               -              27
     Longer than 5 years                                                                 -                 -              -                -
                                                                                      35                135            35              135



11   OTHER FINANCIAL ASSETS
     Investment in Subsidiary (note 19)                                                  -                 -      21,465           21,465
     10 Year fixed interest loan advanced to subsidiary *                                 -                 -       4,564                   -
     Interest-bearing loan advanced to subsidiary *                                      -                 -      35,610          28,305
                                                                                         -                 -      61,639          49,770
     * Interest-bearing loan advanced to subsidiary are on exactly the same terms as the loans from NSW Treasury Corporation - note 17.

     During the year, the Consolidated Entity advanced a fixed 7.23% rate loan to the Department of Defence for a
     period of 10 years. The maturity date is 30 May 2018. Management considers that the carrying amount of the loan
     best represents the maximum credit risk exposure at the balance sheet date and that there is no indication at that
     date that the counterparty will not meet its obligations.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                     Consolidated

                                          Leasehold    Furniture     Plant and          Art &    Work in
                                       Improvements    & Fittings   Equipment       Artefacts    Process        Total
     12     PROPERTY PLANT
            & EQUIPMENT
            Gross carrying amount
            Balance at 1 July 2006            2,408         889          1,790             5       8,649      13,741
            Additions                           790          101            45                   30,808       31,744
            Transfer in/(out)                      -            -             -             -       ( 11)       ( 11)
            Assets write offs                      -            -         ( 21)             -           -       ( 21)
            Balance at 30 June 2007           3,198         990          1,814             5      39,446      45,453
            Additions                              -            -             -             -     17,436      17,436
            Transfer in/(out)                 9,387             -         483               -   ( 56,465)   ( 46,595)
            Assets write offs                      -            -          ( 6)             -           -        ( 6)
            Balance at 30 June 2008          12,585         990         2,291              5         417      16,288


            Accumulated depreciation
            and impairment
            Balance at 1 July 2006          ( 1,485)      ( 668)       ( 1,138)             -           -    ( 3,291)
            Depreciation expense              ( 146)       ( 126)       ( 377)              -           -      ( 649)
            Assets write offs                      -            -           19              -           -         19
            Balance at 30 June 2007         ( 1,631)      ( 794)      ( 1,496)              -           -    ( 3,921)
            Depreciation expense              ( 243)       ( 125)       ( 248)              -           -      ( 616)
            Assets write offs                      -            -            5              -           -          5
            Balance at 30 June 2008         ( 1,874)       ( 919)     ( 1,739)              -           -    ( 4,532)


            Carrying Amount
            At 30 June 2007                   1,567          196           318             5      39,446      41,532
            At 30 June 2008                  10,711           71          552              5         417      11,756
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Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                 RWA

                                   Leasehold Furniture &     Plant and       Art &   Work in
                                Improvements     Fittings   Equipment    artefacts   Process            Total
12   PROPERTY PLANT
     & EQUIPMENT (Cont’d)
     Gross carrying amount
     Balance at 1 July 2006                  -          -          89            -        11              100
     Additions                           565            -            -           -          -             565
     Transfer in/(out)                       -          -            -           -      ( 11)            ( 11)
     Balance at 30 June 2007             565            -          89            -          -             654
     Additions                               -          -            -           -      417               417
     Balance at 30 June 2008             565            -          89            -      417             1,071


     Accumulated depreciation
     and impairment
     Balance at 1 July 2006                  -          -        ( 27)           -          -           ( 27)
     Depreciation expense               ( 75)           -        ( 22)           -          -           ( 97)
     Balance at 30 June 2007            ( 75)           -        ( 49)           -          -          ( 124)
     Depreciation expense               ( 113)          -        ( 22)           -          -          ( 135)
     Balance at 30 June 2008           ( 188)           -        ( 71)           -          -          ( 259)


     Carrying Amount
     At 30 June 2007                     490            -          40            -          -             530
     At 30 June 2008                     377            -          18            -      417               812
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                       Consolidated         RWA
                                                                          Software      Software
     13     OTHER INTANGIBLE ASSETS
            Gross carrying amount
            Balance at 1 July 2006                                                94           -
            Additions                                                              5          5
            Balance at 30 June 2007                                               99          5
            Additions                                                            172           -
            Balance at 30 June 2008                                              271          5


            Accumulated amortisation and impairment
            Balance at 1 July 2006                                             ( 28)           -
            Depreciation expense                                               ( 38)           -
            Balance at 30 June 2007                                            ( 66)           -
            Depreciation expense                                               ( 65)        ( 2)
            Balance at 30 June 2008                                            ( 131)       ( 2)


            Carrying Amount
            At 30 June 2007                                                       33          5
            At 30 June 2008                                                      140          3
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                                                                                                                                   63




Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                  Consolidated    Consolidated         RWA              RWA
                                                                          2008            2007         2008             2007
                                                                          $’000           $’000       $’000            $’000
14    INVESTMENT PROPERTY
      Balance at beginning of year                                     166,650         132,850      136,760         103,380
      Addition from subsequent expenditure                               41,095                -             -                -
      Net gain from fair value adjustment                                 5,455         33,800        1,340          33,380
      Balance at the end of financial year                              213,200         166,650      138,100         136,760

      The fair value of the company’s investment property at 31 May 2008 has been arrived at on the basis of a
      valuation carried out at that date by Preston Rowe Paterson NSW Pty Limited (“PRP”), independent valuers not
      related to the company. PRP are members of the Australian Institute of Valuers, and they have the appropriate
      qualifications and recent experience in the valuation of properties in the relevant locations. The valuation,
      which conforms to Australian Valuation Standards, was arrived at by reference to market evidence of transaction
      prices for similar properties.


15    PAYABLES
      Accrued salaries, wages and on-costs                                  101             176             6               15
      Trade payables (i)                                                 11,831           5,579       2,325            1,244
      Deferred grant income                                               1,414           4,482              -                -
      Event and Tenant deposits                                           1,028             952              -                -
      Lease incentive Deferred income                                       244                -             -                -
      Other Payables                                                        118             119              -                -
                                                                         14,736          11,308       2,331            1,259

(i)   The average credit period on purchase of services is 30 days. No interest has been paid in the current year.
      The Consolidated entity has financial risk management policies in place to ensure that all payables are paid
      within the credit timeframe.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                            Consolidated     Consolidated          RWA         RWA
                                                                                    2008             2007         2008         2007
                                                                                   $’000            $’000        $’000        $’000
     16     PROVISIONS
            Employee Benefits and Related On-Costs
            Current Provisions
            Recreation leave                                                          481              416             -             -
            Long Service leave                                                       303               213             -             -
            Superannuation liability                                                     -              27             -             -
                                                                                     784              656              -             -
            Other Provisions
            Remediation costs                                                       1,550                 -            -             -
                                                                                    1,550                 -            -             -
                                                                                   2,334              656              -             -


            Non-Current Provisions
            Long Service leave                                                         54              107             -             -


     17     BORROWINGS
            Current
            10 Year fixed interest loan from NSW Treasury Corporation                  352                 -        352               -
                                                                                      352                 -        352               -

            Non-Current
            10 Year fixed interest loan from NSW Treasury Corporation                4,564                 -      4,564               -
            Floating rate Borrowings from NSW Treasury Corporation                 35,610          28,305       35,610       28,305
                                                                                   40,174          28,305       40,174       28,305

            Borrowings from NSW Treasury Corporation are unsecured and bears interest at 7.20% (2007: 6.45%) per annum.
            The borrowings are currently at a floating rate as the entire amount of loan has not been taken up. It is anticipated
            that the entire amount of the loan will be taken up by Dec 2008.

            The total loan facility is for $47.5m. An arrangement is in place with the NSW Treasury Corporation to refinance the
            loan in March 09 over 25 years either at fixed interest or a floating interest rate. The 10 year fixed interest rate loan
            pertains to the fit out costs recoverable from the Department of Defence over the term of the lease (refer note 8(ii)).
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                                                                                                                                 65




Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                   Consolidated    Consolidated      RWA              RWA
                                                                           2008            2007      2008             2007
                                                                          $’000           $’000     $’000            $’000
18    ACCUMULATED FUNDS
      Balance at the beginning of year                                  201,418         160,226    171,121        134,559
      Surplus for the year                                                8,457          41,192       533          36,562
      Balance at end of year                                           209,875          201,418    171,654         171,121


19    SUBSIDIARY
                                                                                                     2008             2007
      Name of entity                                                   Country of incorporation          %                %
      Australian Technology Park Precinct Management Limited                      Australia, NSW       100              100
      The Office of Redfern-Waterloo Authority                                     Australia, NSW           -                -


      The Company is incorporated in Australia and is responsible for the day-to-day management of the Australian
      Technology Park located at Eveleigh in Sydney, NSW.

      The Office is incorporated in Australia and provides personnel services to the Authority.



20    NOTES TO THE CASH FLOW STATEMENT
(a)   Reconciliation of cash
      For the purposes of the cash flow statement, cash includes cash on hand and in banks and liquid investment
      in NSW Treasury Corporation “Hour-Glass” cash facility. Cash at the end of the financial year as shown in
      the statement of cash flows is reconciled to the related items in the balance sheet as follows:
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                         Consolidated     Consolidated         RWA         RWA
                                                                                  2008            2007        2008         2007
                                                                                 $’000           $’000        $’000       $’000

            Cash and cash equivalents (Note 7)                                  32,802          31,334        5,975       6,882

     20     NOTES TO THE CASH FLOW STATEMENT (Cont’d)
     (b)    Reconciliation of profit for the period to
            net cash from operating activities

            Profit for the year from continuing operations                        8,457          41,192          533      36,562
            Amortisation of lease incentive asset                                   117             89             -             -
            Depreciation of property, plant and equipment                          681             687          137            97
            Asset write off                                                           2               2            -             -
            Changes in fair value of investment property
            measured at fair value through income statement                    ( 5,455)       ( 33,800)     ( 1,340)   ( 33,380)
            Straight-line of operating lease income on land                           -               -       ( 766)      ( 766)
            Allowance for impairments on receivables                                  7              15           5              -
            Unwinding of discount related to finance lease
            receivable from subsidiary                                                -               -       ( 254)      ( 240)
            (Increase) in receivables                                            ( 650)        ( 1,009)      ( 228)       ( 266)
            Increase in payables and provisions                                  5,053            4,613       1,424            312
            Net cash flows from operating activities                              8,212           11,789      ( 489)        2,319


     21     COMMITMENTS FOR EXPENDITURE
            Capital Commitments
            Aggregate capital expenditure for the acquisition of
            property, plant and equipment contracted for at balance
            date and not provided for:
                 Payable within one year (inclusive of GST)                       1,614         10,449        1,614              -

            The above includes GST input tax of $147k that is expected to be recoverable from the Australian Taxation Office.
            The capital expenditure commitments relate to the refurbishment of the Blacksmiths workshop at North Eveleigh.
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                                                                                                                                           67




Notes To Financial Statements For The Financial Year Ended 30 June 2008


22    CONTINGENT ASSETS AND CONTINGENT LIABILITIES
      The Company has entered into an agreement for lease with ATP Partnership (ATPP) to develop offices and
      TV studios with 700 car spaces on Site B, known as the ATP Channel Seven development. On completion,
      the Company will own 700 car spaces within the development, of which 350 will be leased at a peppercorn
      rental to ATPP and the remainder will be owned and managed by the Company. In addition ATPP will deliver
      $2.6m in public domain works including a new pocket park, 3,000 sqm plaza and completion of Locomotive
      street as part of the development.




23    FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
(a)   Capital risk management
      The Consolidated entity manages its capital to ensure that entities in the Group will be able to continue as a
      going concern while maximising the return to stakeholders.

      The Consolidated entity’s overall strategy remains unchanged from 2007.
      The capital structure of the Consolidated entity consists of debt, which includes the borrowing disclosed in
      note 17, cash and cash equivalents and retained profits as disclosed in note 18.

(b)   Financial Risk Management Objectives
      The Consolidated entity’s principal financial instruments comprise finance leases, cash and short term deposits.
      The main purpose of these financial instruments is to fund Consolidated entity’s operations. The Consolidated entity
      has various other financial instruments such as debtors and trade creditors, which arise directly from its operations.

      It is, and has been throughout the period under review, the Consolidated entity’s policy that no trading in financial
      instruments shall be undertaken. The main risks arising from the Consolidated entity’s financial instruments are
      interest rate risk, liquidity risk and credit risk. The executive reviews and agrees policies for managing each of these
      risks and they are summarised below.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008


     23     FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Cont’d)
     (c)    Interest rate risk
            The Consolidated entity is exposed to interest rate risk as the Authority borrows at floating interest rates from
            NSW Treasury Corporation and holds its surplus cash in NSW Treasury Corporation’s “Hour-Glass” cash facilities.

            NSW Treasury Corporation as trustee for the above facility is required to act in the best interest of the unit holders and to
            administer the trusts in accordance with the trust deeds. As trustee, the NSW Treasury Corporation has appointed external
            managers to manage the performance and risks of each facility in accordance with a mandate agreed by the parties.

            At reporting date, if interest rates had been 1% higher or lower and all other variables were held constant, the Authority’s
            net profit would decrease by $9k and increase by $9k (2007: increase by $121k and decrease by $121k).
            This is mainly attributable to the Group’s exposure to interest rates on its variable rate borrowings and cash deposits.

     (d)    Credit risk
            Credit risk is the potential for loss arising from the failure of a debtor or counterparty (in relation to loans to
            that counterparty), to meet their contractual obligations. The credit quality of trade and other receivables
            and the credit risk management policy in respect of such financial assets have been discussed in note 8.

            No credit risk arises on the Company’s investments in Hour-Glass cash facilities with the NSW Treasury as
            these represent the Company’s share of the net asset value of the facility.

     (e)    Liquidity risk
            Liquidity risk arises from the possibility that the Authority or the Consolidated Entity may be unable to settle
            a transaction on the due date

            The Authority’s objective is to maintain a satisfactory level of liquidity. The Authority has no significant
            borrowings for the day to day operations. The Authority borrows money only for the purpose of capital projects
            which is undertaken by its subsidiary entity.

            The Consolidated entity manages liquidity risk by monitoring forecast and actual cash flows on a regular basis.

            Liquidity and interest risk tables

            The following tables detail the Authority and the Consolidated Entity’s remaining contractual maturity for its
            financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities
            based on the earliest date on which the Authority and the Consolidated Entity can be required to pay. The table
            includes both interest and principal cash flows and spot rates at the year end have been used to project interest
            payments in respect of the variable rate loans.
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                                                                                                                                     69




Notes To Financial Statements For The Financial Year Ended 30 June 2008

                                                                        Weighted
                                                                          average
                                                                         effective      less than
                                                                     interest rate         1 year    1-5 years       5+ years
                                                                               %           $’000        $’000            $’000
       Consolidated
       2008
       Non interest bearing trade payables                                      -          11,831              -                -
       Fixed rate loan from the Treasury Corporation                      7.23%              696        2,785            3,423
       Variable rate loan from the Treasury Corporation                   7.20%           37,672               -                -
                                                                                           50,199       2,785            3,423
       2007
       Non interest bearing trade payables                                      -           5,579              -                -
       Variable rate loan from the Treasury Corporation                   7.20%             1,826      37,672                   -
                                                                                            7,405      37,672                   -
       Authority
       2008
       Non interest bearing trade payables                                      -           2,325
       Fixed rate loan from the Treasury Corporation                      7.23%              696        2,785            3,423
       Variable rate loan from the Treasury Corporation                   7.20%           37,672               -                -
                                                                                          40,693        2,785            3,423
       2007
       Non interest bearing trade payables                                      -           1,244              -                -
       Variable rate loan from the Treasury Corporation                   7.20%             1,826      37,672                   -
                                                                                            3,070      37,672                   -

       As disclosed in note 17, an arrangement is in place between the parent and the NSW Treasury Corporation to
       refinance the loan in March 09 over 25 years either at fixed interest or a floating interest rate. The 10 year fixed
       interest rate loan pertains to the fit out costs recoverable from the Department of Defence over the term of the
       lease (refer note 8(ii)).

(f )   Net fair values of financial assets and liabilities
       The fair values of financial assets and liabilities are determined in accordance with generally accepted pricing
       models based on discounted cash flow analysis using prices from observable current market transactions.

       The carrying amount of financial assets and financial liabilities recorded in the financial statements approximate
       their net fair values.

       END OF AUDITED FINANCIAL STATEMENTS
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                                                                  Redfern-Waterloo Authority



Financials Office of the Redfern-Waterloo Authority




                                                                                               71




Directors’ Statement
Statement by the Chairman and Chief Executive Officer on
the adoption of the financial statements for the year ended
30 June 2008.

Certificate under Section 41C of the Public Finance and
Audit Act 1983.

Pursuant to Section 41C (B) and 1 (C) of the Public Finance
and Audit Act 1983 and in our capacity as Chairman and
Chief Executive Officer of the Office of the Redfern-Waterloo
Authority, we declare that in our opinion:

The accompanying financial statements exhibit a true and
fair view of the financial position of the Office of the Redfern-
Waterloo Authority as at 30 June 2008 and transactions
for the year ended on that date. The statements have been
prepared in accordance with the provisions of the Public
Finance and Audit Regulation 2000 and the Treasurer’s
Directions.

Further, we are not aware of any circumstances that would
render any particulars included in the financial statements
to be misleading or inaccurate.




Dr Col Gellatly
Chairman
Office of the Redfern-Waterloo Authority




Robert Domm
Chief Executive Officer
Office of the Redfern-Waterloo Authority

Sydney, dated this 15 October 2008
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     Income Statement
     For The Financial Year Ended 30 June 2008

                                                                    Office of   Office of
                                                            Notes      RWA        RWA
                                                                       2008       2007
                                                                      $’000      $’000


     Personnel services income                                        2,386      2,540
     Employee related expenses                                      ( 2,386)   ( 2,540)
     Results for the year                                                  -          -
     The accompanying notes form part of these statements
                                                                     Redfern-Waterloo Authority



Financials Office of the Redfern-Waterloo Authority




                                                                                                  73




Balance Sheet as at 30 June 2008


                                                               Office of           Office of
                                                       Notes      RWA                RWA
                                                                  2008                 2007
                                                                 $’000                $’000
CURRENT ASSETS
Receivables                                               2        707                   747
Defined Superannuation Benefit Plan                         5           -                   33
TOTAL CURRENT ASSETS                                               707                   780

TOTAL ASSETS                                                       707                   780


CURRENT LIABILITIES
Payables                                                  3         65                   163
Defined Superannuation Benefit Plan                         5         30                       -
Provisions                                                4        586                   522
TOTAL CURRENT LIABILITIES                                          681                   685


NON CURRENT LIABILITIES
Provisions                                                4         26                    95
TOTAL NON CURRENT LIABILITIES                                       26                    95

TOTAL LIABILITIES                                                  707                   780


NET ASSETS                                                            -                      -


EQUITY
Accumulated funds                                                     -                      -
TOTAL EQUITY                                                          -                      -
The accompanying notes form part of these statements
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     Statement of Recognised Income and Expense
     For The Financial Year Ended 30 June 2008

                                                                      Office of   Office of
                                                              Notes      RWA        RWA
                                                                         2008       2007
                                                                        $’000      $’000
     Net increase/(decrease) in asset revaluation                            -          -
     Total income and expense recognised directly in equity                  -          -
     Results for the year                                                    -          -
     Total income and expense recognised for the year                        -          -
     The accompanying notes form part of these statements
                                                                        Redfern-Waterloo Authority



Financials Office of the Redfern-Waterloo Authority




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Cash Flow Statement as at 30 June 2008


                                                                  Office of           Office of
                                                          Notes      RWA                RWA
                                                                     2008                 2007
                                                                     $’000               $’000
                                                                    Inflow/            Inflow/
                                                                  (Outflow)          (Outflow)
Cash flows from Operating Activities
Receipts from customers                                                  -                      -
Government grants received                                               -                      -
Payments to suppliers and employees                                      -                      -
Interest paid                                                            -                      -
Interest received                                                        -                      -
Net cash from operating activities                                       -                      -


Cash flows from Investing Activities
Payments for property, plant and equipment representing                  -                      -
cash used in investing activities                                        -                      -
Net cash from Investing Activities                                       -                      -


Cash flows from Financing Activities
Non-trade advances from parent entity                                    -                      -
Proceeds of borrowing from NSW Treasury Corporation                      -                      -
Net cash from Financing Activities                                       -                      -

Net increase/(decrease) in cash held                                     -                      -

Cash at the start of the financial year                                   -                      -

Cash at the end of the financial year                                     -                      -
The accompanying notes form part of these statements
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008

     NOTE 1 SUMMARY OF SIGNIFICANT                                      The financial report is presented in Australian dollars and all
            ACCOUNTING POLICIES                                         values are rounded to the nearest thousand dollars ($000)
                                                                        unless otherwise stated.
     (a) Reporting entity

     Office of Redfern-Waterloo Authority (the Office) is a               (c) Income
     Division of the Government Service, established pursuant
     to Part 2 of Schedule 1 to the Public Sector Employment and        Income is measured at the fair value of the consideration
     Management Act 2002. It is a not-for-profit entity as profit is      received or receivable. Revenue from the rendering of
     not the principal objective. It is considered as part of the NSW   personnel services is recognised when the service is
     Total State Sector Accounts. It is domiciled in Australia and      provided and only to the extent that the associated
     its principal office is at Level 11, Tower 2, 1 Lawson square,      recoverable expenses are recognised.
     Redfern NSW 2016.
                                                                        (d) Receivables
     The Office’s objective is to provide personnel services to the
     Redfern-Waterloo Authority (the Authority).                        Trade receivables are recognised initially at fair value and
                                                                        subsequently measured at cost using the effective interest
     The Office commenced operations on 17 March 2006 with               method, less provision for impairment.
     effect from 1 July 2005 when it assumed responsibility for the
     employees and employee-related liabilities of the Authority.       Collectibility of trade receivables is reviewed on an ongoing
     The assumed liabilities were recognised on 17 March 2006           basis. Debts which are known to be uncollectible are written
     together with an offsetting receivable representing the            off by reducing the carrying amount directly. An allowance for
     related funding due from the former employer.                      impairment account is used when there is objective evidence
                                                                        that the corporation will not be able to collect all amounts due
     The financial report for the year ended 30 June 2008 has            according to the original terms of the receivables. Significant
     been authorised for issue by the Board on 15 October 2008.         financial difficulties of the debtor, probability that the debtor
                                                                        will enter bankruptcy or financial reorganisation, and default
     (b) Basis of preparation                                           or delinquency in payments are considered indicators that the
                                                                        trade receivable is impaired.
     The financial report is a general purpose financial report which
     has been prepared in accordance with :                             (e) Payables

        • Australian Accounting Standards and Australian                Payables include accrued wages, salaries, and related on
          Accounting Interpretations                                    costs (such as payroll tax, fringe benefits tax and worker’s
        • Public Finance and Audit Act 1983                             compensation insurance) where there is certainty as to the
        • Public Finance and Audit Regulation 2005                      amount and timing of settlement.
        • Financial Reporting Directions issued by the Treasurer
                                                                        A payable is recognised when a present obligation arises
     The financial report has been prepared on the basis of              under a contract or otherwise. It is derecognised when the
     full accrual accounting using historical cost accounting           obligation expires or is discharged, cancelled or substituted.
     conventions.
                                                                        A short-term payable with no stated interest rate is measured
     Except when an Australian Accounting Standard permits or           at historical cost if the effect of discontinuing is immaterial.
     requires otherwise, comparative information is disclosed in
     respect of the previous period for all amounts reported in the
     financial report.
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                                                                                                                                            77




Notes To Financial Statements For The Financial Year Ended 30 June 2008

(f ) Employee benefits                                             A Liability or asset of define benefits superannuation plans
                                                                  is recognised in the balance sheet, and is measured as
Wages and salaries, annual leave and sick leave                   the present value of the defined benefit obligation at the
Liabilities for wages and salaries, including non-monetary        reporting date less the fair value of the superannuation
benefits, annual leave and accumulating sick leave expected        fund’s assets at that date and any unrecognised past service
to be settled within twelve months of the reporting date          cost. The present value of the defined benefit obligations
are recognised in respect of employees service up to the          is based on expected future payments which arise from
reporting date and are measured at the amounts expected to        membership of the fund to the reporting date, calculated
be paid when the liabilities are settled                          annually by independent actuaries using the projected unit
                                                                  credit method. Consideration is given to expected future
Long Service leave                                                wage and salary levels, experience of employee departures
The liability for long service leave is recognised in the         and periods of service.
provision for employee benefits and measured as the
present value of expected future payments to be made in           Expected future payments are discounted using market
respect of services provided by employees up to the reporting     yields at the reporting date on national government bonds
date using the actuarial valuation method. Consideration is       with terms to maturity and currency that match, as closely as
given to expected future wage and salary levels, experience of    possible, the estimated future cash outflows.
employee departures and periods of service. Expected future
payments are discounted using market yields at the reporting      Actuarial gains and losses arising from experience
date on national government bonds with terms to maturity          adjustments and changes in actuarial assumptions
and currency that match, as closely as possible, the estimated    are recognised in the period which they occur, outside
future cash outflows.                                              profit or loss directly in the statement of recognised income
                                                                  and expense.
Provision is made for benefits accruing to employees in
respect of wages and salaries, annual leave and long service      Past service costs are recognised immediately in income,
leave, when it is probable that settlement will be required and   unless the changes to the superannuation fund are conditional
they are capable of being measured reliably.                      on the employees remaining in service for a specified period
                                                                  of time (the vesting period). In this case, the past service costs
Retirement benefit obligations                                     are amortised on a straight-line basis over the vesting period.
Superannuation schemes to which employees belong are
fully funded, resulting in no liabilities to the Company.
Contributions are expensed when incurred.

Contributions to the defined contribution fund are recognised
as an expense as they become payable. Prepaid contributions
are recognised as an asset to the extent that a cash refund or
a reduction in the future payments is available.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                           Office of    Office of
                                                                Notes         RWA         RWA
                                                                               2008       2007
                                                                               $’000     $’000
     2      RECEIVABLES
            Receivable from the Authority                                       707        747
                                                                                707        747



     3      PAYABLES
            PAYG Tax Payable                                                     42         50
            Salary Package                                                         -          1
            FBT Payable                                                            -          1
            Salary Accruals                                                       16         6
            Payroll Tax                                                           7        105
                                                                                 65        163


     4      PROVISIONS
     (a)    Current
            Superannuation                                                         -        27
            Annual Leave                                                        319        308
            Long Service Leave                                                  267        187
                                                                                586        522


     (b)    Non current
            Long Service Leave                                                   26         95
                                                                                 26         95
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                                                                                                                                 79




Notes To Financial Statements For The Financial Year Ended 30 June 2008

5   SUPERANNUATION FUNDS

    Accounting policy for recognising actuarial gains/losses

    Actuarial gains and losses are recognised immediately in profit and loss in the year in which they occur.

    General description of the type of plan

    The Pooled Fund holds in trust the investments of the closed NSW public sector superannuation schemes:
    State Authorities Superannuation Scheme (SASS)
    State Superannuation Scheme (SSS)
    Police Superannuation Scheme (PSS)
    State Authorities Non-contributory Superannuation Scheme (SANCS).

    These schemes are all defined benefit schemes – at least a component of the final benefit
    is derived from a multiple of member salary and years of membership.

    All the Schemes are closed to new members.
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     Notes To Financial Statements For The Financial Year Ended 30 June 2008
     (a) Defined Benefit Scheme as at 30 June 2008 (AASB 119 Employee Benefits)
                                                                                             SASS           SANCS                SSS
           B39000                                                                       30-Jun-08        30-Jun-08         30-Jun-08
           Member Numbers
           Contributors                                                                          2                2                    -
           Deferred benefits                                                                       -                -                   -
           Pensioners                                                                             -                -                   -
           Pensions fully commuted                                                                -                -                   -
           Superannuation Position for AASB 119 purposes                                    $’000            $’000             $’000
           Accrued liability                                                                  465               143                    -
           Estimated reserve account balance                                                 (464)             (114)                   -
                                                                                                 1               29                    -
           Future Service Liability (Note 1)                                                 (178)             (87)                    -
           Surplus in excess of recovery available from schemes                                   -                -                   -
           Net (asset)/liability to be recognised in balance sheet                               1               29                    -

                                                                                             SASS           SANCS                SSS
           B39000                                                                       30-Jun-07        30-Jun-07         30-Jun-07
           Member Numbers
           Contributors                                                                          1                 1                   -
           Deferred benefits                                                                       -                -                   -
           Pensioners                                                                             -                -                   -
           Pensions fully commuted                                                                -                -                   -
           Superannuation Position for AASB 119 purposes                                    $’000            $’000             $’000
           Accrued liability                                                                    56               81                    -
           Estimated reserve account balance                                                 (308)             (112)                   -
                                                                                             (252)              (31)                   -
           Future Service Liability (Note 1)                                                  (16)              (17)                   -
           Surplus in excess of recovery available from schemes                               223                27                    -
           Net (asset)/liability to be recognised in balance sheet                            (29)               (4)                   -

           Note 1: The Future Service Liability (FSL) does not have to be recognised by an employer. It is only used to determine if
           an asset ceiling limit should be imposed (AASB 119, para 58). Under AASB 119, any prepaid superannuation asset
           recognised cannot exceed the total of any unrecognised past service cost and the present value of any economic benefits
           that may be available in the form of refunds from the plan or reductions in future contributions to the plan. Where the
           “surplus in excess of recovery” is zero, no asset ceiling limit is imposed.
                                                                                                  Redfern-Waterloo Authority



Financials Office of the Redfern-Waterloo Authority




                                                                                                                               81




Notes To Financial Statements For The Financial Year Ended 30 June 2008
(b) Reconciliation of the assets and liabilities recognised in the balance sheet

                                                                                   SASS      SANCS                    SSS
                                                                              30-Jun-08    30-Jun-08          30-Jun-08
                                                                                   $’000      $’000                $’000
    Present value of partly funded defined benefit obligations
                                                                                    465         143                       -
    at end of year
    Fair value of fund assets at end of year                                       (464)       (114)                      -
                                                                                       1         29                       -
    Adjustment for limitation on net asset                                             -           -                      -
    Net Liability/(Asset) recognised in balance sheet at end of year                   1         29                       -

                                                                                   SASS      SANCS                    SSS
                                                                              30-Jun-07    30-Jun-07          30-Jun-07
                                                                                   $’000      $’000                $’000
    Present value of partly funded defined benefit obligations
                                                                                     56          81                       -
    at end of year
    Fair value of fund assets at end of year                                       (308)       (112)                      -
                                                                                   (252)        (31)                      -
    Adjustment for limitation on net asset                                          223          27                       -
    Net Liability/(Asset) recognised in balance sheet at end of year                (29)         (4)                      -


    All Fund assets are invested by SAS Trustee Corporation at arm’s length through independent fund managers.


    Expense recognised in income statement
                                                                                   SASS      SANCS                    SSS
                                                                              30-Jun-08    30-Jun-08          30-Jun-08
                                                                                   $’000      $’000                $’000
    Current service cost                                                              4            1                      -
    Interest cost                                                                     3            5                      -
    Expected return on Fund assets (net of expenses)                                (24)         (9)                      -
    Actuarial losses/(gains) recognised in year                                     297          72                       -
    Movement in adjustment for limitation on net asset                             (223)        (27)                      -
    Expense/(income) recognised                                                      57          42                       -
     07:08 Annual Report



     Financials Office of the Redfern-Waterloo Authority




82




     Notes To Financial Statements For The Financial Year Ended 30 June 2008


                                                                                       SASS          SANCS              SSS
                                                                                  30-Jun-07       30-Jun-07        30-Jun-07
                                                                                      $’000           $’000           $’000
           Current service cost                                                           11               3                 -
           Interest cost                                                                  15               6                 -
           Expected return on Fund assets (net of expenses)                             (21)             (7)                 -
           Actuarial losses/(gains) recognised in year                                 (226)            (41)                 -
           Movement in adjustment for limitation on net asset                           223               28                 -
           Expense/(income) recognised                                                     2             (11)                -


           Actual Return on Fund Assets
                                                                                       SASS          SANCS              SSS
                                                                                  30-Jun-08       30-Jun-08       30-Jun-08
                                                                                      $’000           $’000           $’000
           Actual return on Fund assets                                                 (21)             (7)                 -


                                                                                       SASS          SANCS              SSS
                                                                                  30-Jun-07       30-Jun-07        30-Jun-07
                                                                                      $’000           $’000           $’000
           Actual return on Fund assets                                                   37              12                 -


           Valuation method and principal actuarial assumptions at the balance sheet date {AASB 119 – paragraph 120A(n)}
     a)    Valuation Method
           The Projected Unit Credit (PUC) valuation method was used to determine the present value of the defined benefit
           obligations and the related current service costs. This method sees each period of service as giving rise to an
           additional unit of benefit entitlement and measures each unit separately to build up the final obligation.
                                                                                                       Redfern-Waterloo Authority



Financials Office of the Redfern-Waterloo Authority




                                                                                                                                    83




Notes To Financial Statements For The Financial Year Ended 30 June 2008

b)    Economic Assumptions
                                                                                                30-Jun-08          30-Jun-07
      Salary increase rate (excluding promotional increases)                                     3.5% pa         4.0% pa to
                                                                                                                 June 2008;
                                                                                                                    3.5% pa
                                                                                                                  thereafter
      Rate of CPI Increase                                                                       2.5% pa             2.5% pa
      Expected rate of return on assets backing current pension liabilities                         8.3%                 7.6%
      Expected rate of return on assets backing other liabilities                                   7.3%                 7.6%
      Discount rate                                                                             6.55% pa             6.4% pa


c)    Demographic Assumptions
      The demographic assumptions at 30 June 2008 are those used in the 2006 triennial actuarial valuation. A selection
      of the most financially significant assumptions is shown below:

(i)   SASS Contributors - the number of SASS contributors expected in any one year (out of 10,000 members), at the
      ages shown, to leave the fund as a result of death, disability, resignation, retirement and redundancy. Promotional
      salary increase rates are also shown.

(ii) SSS Contributors - the number of SSS contributors expected in any one year (out of 10,000 members), at the ages
     shown, to leave the fund as a result of death, disability, resignation, retirement and preservation. Promotional
     salary increase rates are also shown.

(iii) SSS Commutation - the proportion of SSS members assumed to commute their pension to a lump sum in any one year.

(iv) SSS Pensioner Mortality - assumed mortality rates (in 2006/2007) for SSS pensioners (separately for normal
     retirement/spouses and invalidity)

(v) SSS Pensioner Mortality Improvements - per annum assumed rates of mortality improvement for SSS pensioners
     07:08 Annual Report



     Financials Office of the Redfern-Waterloo Authority




84




     Notes To Financial Statements For The Financial Year Ended 30 June 2008

           Funding arrangements for employer contributions
     (a) Surplus/deficit
           The following is a summary of the 30 June 2008 financial position of the Fund calculated in accordance with
           AAS 25 “Financial Reporting by Superannuation Plans”:


                                                                                       SASS           SANCS              SSS
                                                                                   30-Jun-08       30-Jun-08       30-Jun-08
                                                                                       $’000           $’000            $’000
           Accrued benefits                                                               461             144                -
           Net market value of Fund assets                                             (464)            (114)               -
           Net (surplus)/deficit                                                           (3)             30                -


                                                                                       SASS           SANCS              SSS
                                                                                   30-Jun-07       30-Jun-07       30-Jun-07
                                                                                       $’000           $’000            $’000
           Accrued benefits                                                                55              80                -
           Net market value of Fund assets                                             (308)            (112)               -
           Net (surplus)/deficit                                                        (253)            (32)                -


     (b) Contribution recommendations
           Recommended contribution rates for the entity are:


                                                                                       SASS           SANCS              SSS
                                                                                    multiple      % member           multiple
                                                                                 of member           salary       of member
                                                                               contributions                    contributions
                                                                                        0.00            0.00             0.00
                                                                                                        Redfern-Waterloo Authority



Financials Office of the Redfern-Waterloo Authority




                                                                                                                                     85




Notes To Financial Statements For The Financial Year Ended 30 June 2008

(c) Funding method
    The method used to determine the employer contribution recommendations at the last actuarial review was the
    Aggregate Funding method. The method adopted affects the timing of the cost to the employer.


    Under the Aggregate Funding method, the employer contribution rate is determined so that sufficient assets will
    be available to meet benefit payments to existing members, taking into account the current value of assets and
    future contributions.


(d) Economic assumptions
    The economic assumptions adopted for the last actuarial review of the Fund were:


    Weighted-Average Assumptions
    Expected rate of return on Fund assets backing current pension liabilities                                        7.7% pa
    Expected rate of return on Fund assets backing other liabilities                                                  7.0% pa
    Expected salary increase rate                                                                                     4.0% pa
    Expected rate of CPI increase                                                                                     2.5% pa


    Nature of asset/liability
    If a surplus exists in the employer’s interest in the Fund, the employer may be able to take advantage of it in the
    form of a reduction in the required contribution rate, depending on the advice of the Fund’s actuary.

    Where a deficiency exists, the employer is responsible for any difference between the employer’s
    share of fund assets and the defined benefit obligation.



END OF AUDITED FINANCIAL STATEMENTS
     07:08 Annual Report




86




     Appendices
     Charter
     The RWA was formed under the Redfern-Waterloo Authority Act 2004.


     Chief and Senior Executive Officer
     Robert Domm was Chief Executive Officer with the RWA during the 2007-2008 Financial Year.
     Richard Clark was Senior Executive Officer with the RWA during the reporting period.


     Staff Numbers by Employment Basis               Permanent      Temporary       Full-Time       Part-Time   Casual

     Staff                                                    13              3             16              -        -
     %                                                      81%            19%           100%               -      5%
     Men                                                       6               -                6           -        -
     Women                                                     7              3             10              -        -
     Aboriginal Person or
     Torres Strait Islander                                    3               -                3           -        -
     Person with a Disability                                   -              -                -           -        -
     Person from a Racial, Ethnic or
     Ethno-Religious Minority Group                             -             1                 1           -        -
     People whose first language
     is not English                                            4              1                 5           -        -



     Staff Numbers by Level                                                              Men          Women      Total

     $46,320 - $51,783                                                                          -           1        1
     $51,784 - $65,526                                                                          -          2         2
     $84,738 - $105,923                                                                         2          5         7
     $> $105,923 (non SES)                                                                      2          2         4
     $> $105,923 (SES)                                                                          2           -        2
                                                                                                            Redfern-Waterloo Authority




                                                                                                                                         87




Legislative Changes                                              Freedom of Information Procedure
There was a change to legislation administered by the RWA        During the reporting period, one request was made, to
during the reporting year.                                       the RWA under the Freedom of Information Act. In the
                                                                 same period, no major issues arose, and there were no
2007 No 27     Statute Law (Miscellaneous Provisions)            investigations or applications for review submitted.
               Act 2007 . Assented to 4.7.2007. Date of
               commencement of Sch 2, assent, sec 2 (2).         Formal requests made under the Freedom of Information
                                                                 Act for access to documents held by the RWA should be
                                                                 accompanied by a $30 application fee and directed to:
Overseas Travel & Corporate Credit Cards
                                                                 The FOI Coordinator
No overseas travel fares were incurred during the reporting      Redfern-Waterloo Authority
year, and as at 30 June 2008, no corporate credit cards had      PO Box 3332
been issued to any RWA staff.                                    Redfern NSW 2016

                                                                 The contact number for all FOI inquiries is (02) 9202 9100
Corporate Services
Finance, accounting and payroll services were provided to        Land Disposal
RWA by the finance division of Australian Technology Park.
Information and technology services were provided by The         There were no land disposals for the year ended
Central Corporate Services Unit (CCSU) of the Department         30 June 2008.
of Commerce.


Risk Management
The RWA has a Business Risk Map of its operations. The
primary objective of the Business Risk Map is to coordinate
risk management activities within the RWA to ensure the
activity is focused on areas of greatest risk and is also used
by Business Audit to derive its strategic audit plan.

Contributions are made by the RWA to the Treasury
Managed Fund for workers compensation, motor vehicle
accidents, property loss, public liability and various other
insurable risks.

RWA staff have assigned wardens and participated in
emergency evacuation drills. No OH&S incidents have arisen.
     07:08 Annual Report




88




     Appendices
                                                                       Ethnic Affairs Priority Statement
     Plans, Policies and Procedures
                                                                       The RWA recognises and values the different linguistic,
     Code of Conduct                                                   religious, racial and ethnic backgrounds of all the people of
                                                                       NSW and endorses the four principles of multiculturalism
     The RWA has its own Code of Conduct which was developed           as set out in the Community Relations Commission and
     in accordance with the principles of ethical and responsible      principles of the Multicultural Act 2000.
     decision-making and embodies the public sector values
     of respect for the law, the system of Government, the             Towards this objective, the RWA will develop and implement
     community and its persons, integrity, diligence, economy          policies sensitive to the needs of all staff and clients
     and efficiency, and accountability.                                and ensure that its Boards and Committees reflect the
                                                                       multiculturalism of the community.
     Equal Employment Opportunity Policy (EEO)
     Through its policy, the RWA implements the following              NSW Government Action Plan for Women
     principles of the EEO:
                                                                       The RWA supports the NSW Government Action Plan for
     • Fair practices in the workplace
                                                                       Women and will promote workplaces that are equitable, safe
                                                                       and responsive to all aspects of women’s lives. It will also
     • Management decisions made without bias
                                                                       promote the position of women in all areas of society as well
                                                                       as access to and successful outcomes for women in all parts
     • Recognition of and respect for the social and cultural
                                                                       of the education and training system.
      backgrounds of all staff and clients
                                                                       Occupational Health & Safety Management Plan
     • Employment practices which produce staff satisfaction, job
      commitment and quality client service                            The RWA is committed to the occupational health, safety and
                                                                       welfare of its employees, those contracted to perform work
     • Improved productivity
                                                                       on its behalf and visitors to the premises. It is committed to
                                                                       regular consultation with staff and their representatives, and
     The RWA also has a policy for the Action Plan for Women           where necessary, with contractors and suppliers of equipment
     along with an Aboriginal and Torres Strait Islander               and services to ensure OH&S management is of the highest
     Employment Strategy.                                              standard.

     Disability Access Policy                                          Waste Reduction and Purchasing Policy
     The RWA complies with the NSW Government Disability               The RWA is committed to the implementation of the
     framework through its Disability Access Policy. This provides a   Government’s Waste Reduction and Purchasing Policy
     process for the RWA to better meet the needs of staff and the     (WRAPP).
     community in relation to persons with a disability. The RWA is
     committed to ensuring all people have reasonable access to
     the resources and spaces governed by the Authority.
                                                                                                   Redfern-Waterloo Authority




                                                                                                                                89




Following is a full list of RWA Plans and Policies:       Publications

Risk Management Policy                                    Newsletters (16,000 copies per issue):
Risk Management Plan                                      October 2007
Risk Management Framework                                 December 2007
Information Management & Technology Disaster Recovery     May 2008
Strategy
Internal Audit Plan                                       Annual Report
External Audit Plan                                       October 2007
Staff Code of Conduct
Code of Conduct for Board Members                         Annual Report
Protected Disclosure Act Policy Statement
Equal Employment Opportunity Policy                       The RWA 2007-2008 Annual Report is made available
OH&S Management Plan                                      electronically at www.redfernwaterloo.com.au
Ethnic Affairs Priority Statement                         The total cost of external production and printing
Disability Access Policy                                  was $49,478.
Action Plan for Women
Aboriginal & Torres Strait Islander Employment Strategy   Contact Details
Procurement Policy
Complaints Handling Policy                                Redfern-Waterloo Authority
Business Ethics Statement                                 Level 11, Tower 2
Privacy Management Plan                                   1 Lawson Square
Corporate Credit Card Policy                              Redfern NSW 2016
Energy Management Policy
Fraud Corruption Control Strategy                         Telephone: +61 2 9202 9100
Environmental Management Policy                           Reception 9am – 5pm Monday – Friday
New Starter Induction Program
Waste Reduction and Purchasing Policy                     Website: www.redfernwaterloo.com.au
     07:08 Annual Report




90




     Index
     Appendices                                                  86
     Board Member Profiles                                        12
     Built Environment Plan                                      18
     Contact Details                                             89
     Corporate Governance                                        11
     Coverage Map                                                02
     Director’s Statement                                        41
     Employment and Enterprise Plan                              24
     Financials                                                  42
     Human Services Plan                                         22
     Independent Auditor’s Report                                40
     Index                                                       90
     Letter to the Minister                                      03
     Organisational Structure                                    08
     Overview                                                    05
     Principle Objectives                                        05
     RWA Sponsorship and Grants                                  38
     Redfern-Waterloo Plan                                       16
     Redfern-Waterloo Renewal                                    26
     Statement from The Chairperson and Chief Executive officer   06
Credits
Design by:


Art Director:
Imelda Pangestu

Designer:
John Liang

Photography:
George Mourtzakis
Redfern-Waterloo Authority
Level 11, Tower 2
1 Lawson Square Redfern NSW 2016
PO Box 3332 Redfern 2016
T: 02 9202 9100 F: 02 9292 9111
redfernwaterloo@rwa.nsw.gov.au
www.redfernwaterloo.com.au

Reception Monday to Friday, 9am – 5pm
T: 02 9202 9100 F: 02 9292 9111




www.redfernwaterloo.com.au

				
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