Review of the Registered Clubs Industry in NSW - Clubs NSW

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Executive Summary 21 Once these measures are approved, that the Registered Clubs Regulation be amended to require: 121 – Clubs with annual gaming machine revenue of between $1 million and $5 million to calculate the full suite of measures on an annual basis. 121 – Clubs with annual gaming machine revenue of less than $1 million to calculate only the ‘whole of business’ measures on an annual basis. 121 – Clubs to provide data on the relevant measures to the Club Viability Panel by the date and in the format specified by the Regulation. 121 22 That the Club Viability Panel use the data provided by clubs to calculate industrywide benchmarks for each measure, and segment these benchmarks by club size, type and location to allow clubs to compare their performance with ‘like’ clubs. 121 23 That the Registered Clubs Regulation be amended to require all clubs to calculate their EBITDARD% on an annual basis, and submit this data to the Club Viability Panel. 125 24 That the Club Viability Panel analyse this data on an annual basis, and use a threshold for EBITDARD% of 15 per cent to identify clubs at risk of being in financial distress. 125 25 That clubs which do not comply with the financial reporting and benchmarking requirements recommended for inclusion in the Registered Clubs Regulation be penalised, and that these penalties be the same as those for breaches of section 47H of the Regulation (ie, maximum penalty 50 penalty units). An offence should also be a penalty notice offence listed in Schedule 3 of the Regulation. 125 Chapter 8 Establishing a Club Viability Panel The proposed Club Viability Panel will have a key ongoing role in strengthening the financial viability of the registered clubs industry. Specifically, IPART recommends: 26 That a Club Viability Panel (the Panel) be established to: 127 – assist clubs in transitioning to a standardised reporting format for financial management accounts 127 – produce and publish industry benchmarks 127 – identify and inform clubs that are at risk of being in financial distress 127 – assist financially distressed clubs to develop and implement strategies to become financially viable. 127 27 That the Panel be advisory (not supervisory) in nature, with a club’s board maintaining control over the future of the club. 128 28 That the Panel comprise up to seven members, drawn from ClubsNSW, other industry associations, individual clubs’ management and boards, OLGR and independent industry advisers, to provide a balanced mix of relevant skills and experience. 129 12 IPART Review of the Registered Clubs Industry in NSW
Executive Summary 29 That ClubsNSW provide secretariat support to the Panel. 130 30 When the Panel identifies that a club is at risk of being in financial distress, that the Panel formally advise the club’s board of this finding, and that the club is eligible for a more detailed, comprehensive review of its financial position to determine whether its viability is threatened and, if so, to identify the options for improving its financial position. 134 31 That a club which receives formal advice from the Panel that it is at risk of being in financial distress and is eligible for a more detailed review of its financial position be required to inform its members and the Panel if it chooses not to take up the offer of a more detailed review, and the reason for this decision, within three months of receiving the advice. 135 32 When a club accepts the Panel’s offer of a more detailed, comprehensive review of its financial position, that this review be undertaken by the Panel’s secretariat or an approved consultant. That the review provide the club with a detailed assessment of its financial viability and information about options to address identified weaknesses. 136 33 That a club found to be in financial distress by the detailed review should be eligible to apply for funding (administered by the Panel) up to a maximum of $50,000 to develop and implement strategies to improve its financial position. 137 34 That the Panel periodically follow up and review the progress of a club identified as being in financial distress. 137 35 That the ClubBIZ scheme be discontinued and the funding from this program be redirected to the Panel. 138 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 37 That the Panel be reviewed after three years to assess its effectiveness. 139 Chapter 9 Improving corporate governance IPART recommends the following to improve corporate governance as well as director and management skills: 38 That directors be required to complete two core training modules (unless exempt on the basis of their prior learning) within 12 months of being elected to a club’s board. The core training modules should cover understanding financial statements and directors’ duties. 150 This requirement should be appropriately scaled according to club size, so that: 150 – for clubs with annual gaming machine revenue of greater than $1 million, all directors need to complete the core training modules 150 – for clubs below this threshold, the board needs to ensure that at least two of its directors complete the core training modules. 150 Review of the Registered Clubs Industry in NSW IPART 13
Page 1: Independent Pricing and Regulatory
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Page 6 and 7: Contents 6 Strengthening the financ
Page 9 and 10: Executive Summary Executive Summary
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Page 13 and 14: Executive Summary Therefore, IPART
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Page 17 and 18: Executive Summary List of Recommend
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Page 27 and 28: 1 Introduction 1 Introduction Over
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Page 33 and 34: 1 Introduction 1.3 The structure of
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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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6 Strengthening the financial viabi
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7 Improving clubs’ financial repo
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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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Glossary and Abbreviations Glossary
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Review of the Registered Clubs Industry in NSW - Clubs NSW

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