Annual Report 2011 Australian Grand Prix Corporation

Notes to and Forming Part of the Financial Statementsfor the Financial Year Ended 30 June 20112. Revenue And Expenses From Ordinary Activities2011Formula OneGrand Prix2010MotorcycleGrand PrixFutureGrandsPrixJune 2011FinancialYear Total2010Formula OneGrand Prix2009MotorcycleGrand PrixFutureGrandsPrixJune 2010FinancialYear Total$000’s $000’s $000’s $000’s $000’s $000’s $000’s $000’sIncome from transactionsSales revenue 26,462 6,172 - 32,634 24,576 7,276 - 31,852Sponsorship/Commercial revenue 5,748 1,451 - 7,199 6,222 1,505 - 7,727Interest received 1,721 100 - 1,821 1,185 80 - 1,265Government Contributions – recurrent* 50,050 2,031 4,302 56,383 49,254 5,488 3,996 58,738Government Contributions – non recurrent 1,851 - - 1,851 1,384 - 7,823 9,207Other operating revenue 211 26 - 237 44 46 - 90Total income from transactions 86,043 9,780 4,302 100,125 82,665 14,395 11,819 108,879Expenses from transactionsEvent Management and Staging** 43,802 7,333 - 51,135 42,070 6,789 - 48,859Recurrent Engineering** 26,841 3,030 - 29,871 24,544 3,213 - 27,757Administration*** 4,794 1,804 - 6,598 5,271 1,855 - 7,126Marketing/Promotion and Catering**** 11,125 2,335 - 13,460 11,280 2,424 - 13,704Total expenses from transactions 86,562 14,502 - 101,064 83,165 14,281 - 97,446Net Result from Transactions (net operatingbalance)(519) (4,722) 4,302 (939) (500) 114 11,819 11,433Other economic flows (4,640) (1) - (4,641) 1,893 4 - 1,897Net Result (5,159) (4,723) 4,302 (5,580) 1,393 118 11,819 13,330* Includes $1,228,305 for recurrent spending on the 2012 Formula One event and $3,074,000 for recurrent spending on the 2011 Motorcycle event received in the 10/11financial year (2010: $204,000 for the 2011 Formula One Event and $3,737,000 for the 2010 Motorcycle Event)** Includes costs associated with the assembly, dismantle and servicing of event infrastructure*** Includes depreciation and amortisation**** Catering costs of $976,990 relating to the 2009 Motorcycle event have been deducted from Event Management and Staging and reallocated to Marketing/Promotion and CateringAustralian Grand Prix Corporation Annual Report 2011 47