Review of the Registered Clubs Industry in NSW - Clubs NSW

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8 Establishing a Club Viability Panel The chief distinction between the Panel and ClubBIZ is that, with the benefit of financial data from clubs and relevant benchmarks, the Panel would proactively identify and engage with clubs in financial distress. In contrast, ClubBIZ relies on a club identifying itself as being in financial distress. As noted in section 6.1.5, some clubs’ board and management lack the skills to recognise that the club is in financial distress in the first instance. In the current environment, where there is clearly a need for the clubs industry to be proactive in identifying and addressing financial distress, IPART considers that the Panel should replace the ClubBIZ scheme. As a result, ClubBIZ should be discontinued with the funding from this program being redirected to the Panel. Recommendation 35 That the ClubBIZ scheme be discontinued and the funding from this program be redirected to the Panel. 8.6 Funding for the Club Viability Panel and its initiatives IPART considers that the activities of the Panel and the provision of financial assistance to clubs found to be in financial distress should be funded from two sources: Unused ClubBIZ Funds: As described in section 8.5 above, the Government funded the scheme using $9 million in unclaimed prize money from the Keno Prize Fund Pool. ClubsNSW advises that 500-600 clubs received funding for the initial business health check, leaving approximately $2.2 million in the ClubBIZ Trust fund. IPART understands that use of these funds outside of the ClubBIZ scheme requires a change to the ClubBIZ Trust Deed of Settlement. Further unclaimed money from the Keno Prize Fund Pool: OLGR has advised that the Keno Prize Pool Fund currently accumulates $0.5-1 million per annum in unclaimed money. IPART considers that these funding sources should be sufficient for the Panel’s first three years of operation. Recommendation 36 That the Panel and its funding scheme should be funded initially by residual funds in the ClubBIZ Trust Fund and by further monies from unclaimed Keno prizes. 138 IPART Review of the Registered Clubs Industry in NSW
8 Establishing a Club Viability Panel 8.7 Review of the Club Viability Panel’s effectiveness The Panel will be responsible for implementing initiatives to assist clubs in financial distress and to improve the long-term financial viability of the industry. IPART’s view is that it would be prudent to periodically review the effectiveness of the Panel’s activities. Three years would be an appropriate period of time to allow the assessment of the effectiveness of the Panel’s activities and the ongoing need for them. Recommendation 37 That the Panel be reviewed after three years to assess its effectiveness. Review of the Registered Clubs Industry in NSW IPART 139
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Independent Pricing and Regulatory
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© Independent Pricing and Regulato
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Contents 6 Strengthening the financ
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Executive Summary Executive Summary
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Executive Summary estimated the val
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Executive Summary Therefore, IPART
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Executive Summary However, IPART al
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Executive Summary List of Recommend
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Executive Summary 15 Once the stand
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Executive Summary 29 That ClubsNSW
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Executive Summary 46 That ClubsNSW
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Executive Summary 60 That OLGR deve
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1 Introduction 1 Introduction Over
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1 Introduction 1.1.2 Review’s foc
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1 Introduction 1.2 Other reviews an
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1 Introduction 1.3 The structure of
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2 The registered clubs industry in
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3 Understanding the social contribu
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4 Measuring and reporting on club c
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5 Refining the Community Developmen
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Page 173 and 174: 10 Helping clubs better understand
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11 Making it easier for clubs to am
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12 Making it easier for new clubs t
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13 Removing unnecessary regulatory
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14 A framework for a management pla
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A Terms of reference A Terms of ref
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A Terms of reference The proc
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B Terms of reference checklist Term
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C List of submitters, roundtable pa
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D Gambling expenditure and problem
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E IPART’s methodology for recordi
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F ACG’s approach to measuring the
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G ClubsNSW - steps to establishing
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G ClubsNSW - steps to establishing
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Glossary and Abbreviations Glossary
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Review of the Registered Clubs Industry in NSW - Clubs NSW

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