Annual Report 2011 - Sydney Opera House

108GOVERNMENT REPORTINGINSURANCESydney Opera House insurance coverage is provided by the NSW Treasury ManagedFund, a self-insurance scheme administered by GIO (which covers property, publicliability and motor vehicle) and by Allianz (which covers workers’ compensation).The property policy protects Sydney Opera House assets and the properties for whichit holds long-term leases.During the year Sydney Opera House had three property claims totalling $139,900.A table showing the total cost of premiums excluding GST, arriving at the cost peremployee over the past five years, is set out below.10/11$09/10$08/09$07/08$Motor vehicle 2,880 2,620 0 0 006/07$Property 579,600 707,890 662,440 661,490 406,700Public liability 372,780 381,220 382,770 370,940 342,230Workers’ comp. 924,280 928,570 702,970 842,390 1,411,974Miscellaneous 9,600 7,210 5,460 1,880 0total COST 1,889,140 2,027,510 1,753,640 1,876,700 2,160,904Total Employees 781 741 716 719 703COST PER EMPLOYEE 2,419 2,736 2,449 2,610 3,074INVESTMENT PERFORMANCE MEASUREInvestments are placed with NSW Treasury Corporation or banks at interest ratesequivalent to, or greater than, the relevant benchmark Hourglass Investment.LAND TITLE HOLDINGSSummary of Land HoldingsOwnership of Sydney Opera House and its land is vested in the Minister administeringthe Sydney Opera House Trust Act 1961 (the Minister for the Arts) on behalf of theNSW Government. The Sydney Opera House Trust, which is constituted as a bodycorporate under the Sydney Opera House Trust Act 1961, is responsible for the operationand maintenance of Sydney Opera House and its land. The site area is 3.82527 hectaresand is located at the northern end of Circular Quay East, Bennelong Point, and as at30 June 2011 was valued at $111,000,000.LEGALThe Sydney Opera House Trust By-law was remade on 1 September 2010 in accordancewith the Subordinate Legislation Act 1989. The process involved internal and externalconsultation with stakeholders including the public, resident companies, Sydney OperaHouse Trust commercial partners and relevant government departments and agencies.Based on the submissions received, the Parliamentary Counsel’s Office finalised theSydney Opera House Trust By-law, which was approved by the Minister for the Arts andthe Governor.The Statute Law (Miscellaneous Provisions) Act 2010 amended the Sydney Opera HouseTrust Act 1961 (“the Act”) commencing 9 July 2010. Section 11A (4) of the Act wasamended to provide that a resolution approved under subsection (1) is, subject to theby-laws [replacing “regulations”]. Section 28 of the Act was amended to provide that aby-law has no effect unless approved by the Governor, removing the need for the SydneyOpera House Trust to seal every by-law itmakes with a common seal.An order under the Public SectorEmployment and Management Act 2002established a new Principal Departmentof Trade and Investment, RegionalInfrastructure and Services (DTIRIS)on 1 April 2011. Communities NSW wasabolished on the same date and the SydneyOpera House Trust, along with four otherNSW cultural institutions, was transferredas a division to the newly created Ministryfor Tourism, Major Events, Hospitality andthe Arts under DTIRIS.MULTICULTURAL POLICIES ANDSERVICES PLANIn support of the NSW MulticulturalPolicies and Services Plan, opportunitieswere created for artists, audiences,and visitors from a range of culturalbackgrounds to engage with SydneyOpera House. Performances with a strongmulticultural theme were presented acrossa variety of artforms including music,dance, theatre and film.The music and theatre offeringincluded both large and small scalepresentations across the venues. Amongstthe highlights were:- Gaff Aff 17 to 24 October 2010 –Swiss performance duo Zimmermann& de Perrot created a world thatrevolves quite literally on a turntable.Enthralled by the minutiae of everydaylife, their productions combine music,dance and circus with humour,originality and a striking visual style.- Roby Lakatos 16 to 18 December2010 – equally comfortable performingclassical, jazz, and his nativeHungarian folk idiom, Lakatos is amusician who defies definition.- Afro Celt Sound System 14 to 15 May2011 – Afro Celt Sound System cametogether through Simon Emmersoncollaborating with James McNally,Martin Russell and Irish vocalist IarlaO’Lionaird.- PINA 17 April 2011 – a 3D cinematicexperience by Wim Wendersdedicated to the extraordinary moderndance icon Pina Bausch, a Germanchoreographer whose incredibleimagination and vision helped exposemodern dance across the globe andacross multiple artistic platforms.