the sydney 2000 olympic and paralympic games - Australian Sports ...

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PART ONE : FINANCIAL CONTRIBUTION BY NSW GOVERNMENT NOTES TO FINANCIAL STATEMENT [cont’d] However, it should be noted that the financial contribution by the NSW Government, as reflected in this report, does include any additional costs of these people working on the Games, such as uniforms, food, accommodation and overtime. • Infrastructure and capital works initiated to meet other long-term needs of NSW. Although many projects may have been accelerated to allow completion before the Games, where they were not undertaken as a direct requirement for Sydney hosting the Olympic and Paralympic Games they have been excluded. The construction of the Eastern Distributor in Sydney is an example of such a project. The cut off date used in this report for Olympic costs and revenues is 31 March 2002. Accordingly, estimated tax revenues relating to the Games have not been included after this date. For an explanation of tax revenue estimates, see Note 15. The estimated revenues and costs associated with operating new Olympic venues have also been excluded after 31 March 2002 as these venues will provide public amenity for many years to come. For an explanation of future maintenance costs of permanent venues, see Note 16. (ii) Estimated Costs Included in this Report Costs included in this report have been captured and tabulated from specific State Budget funding and returns provided by NSW Government agencies. Inclusions have been based on identified amounts and in some cases the best estimate at the time of preparation of this report. (iii) Treatment of SOCOG and SPOC SOCOG and SPOC were funded mainly by television rights, ticket sales and sponsorship. The net contribution by NSW Government to the Games includes $59.8 million provided to SOCOG and $19.6 million provided to SPOC. On 30 June 2000, Government provided SOCOG with $140 million to cover contingency risks. On wind up of SOCOG in October 2001, the Organising Committee returned $80.2 million to Government. On finalisation of SPOC’s financial arrangements, $15.4 million was returned to Government from overall funding of $35 million made prior to the Paralympic Games. The financial outcomes of SOCOG and SPOC have been attached by way of appendices to this report for information purposes. (iv) Royal Agricultural Society Showground This report excludes the construction and financial support costs of the new Sydney Showground at Sydney Olympic Park. The new Showground was built at Homebush Bay to facilitate the redevelopment of the Moore Park site rather than for Olympic purposes. The Showground was used for Olympic purposes and was constructed at the same time as other venues at Sydney Olympic Park. Its construction was managed by OCA. This report includes the venue rental, overlay and fitout expenditure associated with its use during the Games. 1 (c) CLASSIFICATION OF OLYMPIC COSTS Olympic costs, reflecting the financial contribution by NSW Government to the Games, represents the marginal cost or budget impact of hosting the Games. The main components, explained below, are: (i) Construction and Capital Works Legacy. (ii) Event and Co-ordination costs including support services and Games programs. (iii) Olympics induced additional tax revenue to Government. (i) Construction and Capital Works Legacy Construction and Capital Works Legacy, for the purposes of this report, includes legacy assets constructed by OCA or by the private sector by arrangement with OCA. OCA was the key agency responsible for the construction and procurement of Games facilities and infrastructure. These legacy assets include Stadium Australia, Sydney Olympic Park Railway Station, Sydney SuperDome, Sydney Aquatic Centre, Sydney International Regatta Centre, Penrith Whitewater Stadium, Sydney International Equestrian Centre, Sydney International Shooting Centre and the Dunc Gray Velodrome. Refer to Part Three of this report for information on Legacy Assets for NSW. 15
PART ONE : FINANCIAL CONTRIBUTION BY NSW GOVERNMENT NOTES TO FINANCIAL STATEMENT [cont’d] Where infrastructure was acquired by other NSW Government agencies for specific use in meeting support services, this has been included within “Event and Co-ordination Costs”. Refer to Note 17 for details of these Miscellaneous Capital Legacies. (ii) Event and Co-ordination Costs The cost of the events to NSW Government agencies includes essential support services and Games programs including logistical support, transport, security, health and medical services for competition and non-competition events. It also includes infrastructure items such as property, plant and equipment (not otherwise included as “Construction and Capital Works”) acquired by the NSW Government agencies for specific use in meeting Games commitments. Many of these acquisitions represent legacy assets for NSW. Refer to Note 17. Costs are classified, for ease of understanding, in areas of SOCOG, SPOC, OCA and Support Services. Support Services expenditure is classified as Transport, Security, Health and Medical Services, Waterways and Harbour Management, or Other Services. Refer to Part Four of this report for information on outputs of the principal agencies involved and Notes 6 to 14 for summary of financial information. (iii) Olympics induced additional tax revenue to Government. See Note 15 for details of this revenue. 16
Page 1 and 2: THE SYDNEY 2000 OLYMPIC AND PARALYM
Page 3 and 4: FOREWORD Statement by the Hon Micha
Page 5 and 6: INTRODUCTION The Sydney 2000 Olympi
Page 7 and 8: EXECUTIVE SUMMARY The financial con
Page 9 and 10: Indeed no other event impacts more
Page 13 and 14: PART ONE : FINANCIAL CONTRIBUTION B
Page 15: PART ONE : FINANCIAL CONTRIBUTION B
Page 29 and 30: PART TWO : PREPARATION FOR THE GAME
Page 31 and 32: PART TWO : PREPARATION FOR THE GAME
Page 33 and 34: PART THREE : LEGACY ASSETS FOR NSW
Page 43 and 44: PART FOUR : NSW GOVERNMENT AGENCIES
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PART FOUR : NSW GOVERNMENT AGENCIES
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PART FIVE : THE SYDNEY 2000 LEGACY
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APPENDIX 1 : OVERVIEW OF FINANCIAL
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GLOSSARY GLOSSARY ACEA Association
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