2011 - 2012 Brisbane Marketing Annual Report

BrisBane Marketing annUaL rePOrt 2011 - 2012

COntents

06 Lord Mayor’s Foreword

07 Chairman’s Review

08 CEO’s Review

10 The Year Ahead

12 Key Performance Indicators

14 Our Board

14 Corporate Governance

15 Annual Financial Statements

brisbanemarketing.com.au | 03

04 | Brisbane Marketing Annual Report 2011-12

BrisBane Marketing Driving long-term social and economic benefits

to Brisbane and the Greater Brisbane region is

a key focus of Brisbane Marketing - Brisbane’s

economic development board and a wholly-

owned subsidiary of Brisbane City Council.

Brisbane Marketing collaborates with both

industry and the community throughout a

diverse range of economic development projects

to attract investment and create jobs for the

residents and businesses of Brisbane. Central to

Brisbane Marketing’s mandate is that of profiling

Brisbane as Australia’s New World City: a leading

destination for business growth and investment,

export, international students, conventions,

tourism, major events and retail. Brisbane is a

diverse, energised and self-assured global city

with a $114B economy underpinned by a strong

economic development plan.

Brisbane’s reputation as a vibrant and sustainable

centre of innovation and enterprise is attracting

leading businesses who are embracing our

population growth, highly-skilled workforce,

competitive costs and well-respected research

and development communities.

In partnership with Brisbane City Council, Brisbane

Marketing is working to deliver Brisbane’s vision

for a prosperous and progressive city that provides

economic and social value for business, residents

and visitors.

Our purposeTo create a more prosperous Brisbane

• We bring together government

and industry to create and leverage

business opportunities.

• We inspire thought leadership on

economic growth.

• We champion Brisbane: Australia’s

New World City.

• We persuade others to invest, visit, meet,

study, work, live and play in Brisbane.


LOrd MayOr’s FOrewOrd As Brisbane City Council’s

economic development

board, Brisbane Marketing

is at the forefront of

Council’s vision for the

future. Through its work

over the past 12 months

we have seen considerable

progress in Brisbane’s

economic growth, as well as a boost in the city’s

credentials as a highly competitive destination

for conventions, tourism, major events and

international education.

Under the stewardship of Brisbane Marketing

Chairman Ian Klug, our city’s new Economic

Development Steering Committee consulted

with more than 200 businesses to deliver

Brisbane’s Unique Window of Opportunity report.

The report focuses on how Council, in partnership

with Brisbane Marketing, can better support

businesses, encourage investment and create

new jobs.

Underpinned by the guiding policy of Council’s

updated Brisbane Economic Development Plan

2012-31, Brisbane Marketing is focused on a

number of the report’s key recommendations.

These include ensuring Brisbane has the capacity

to support an additional 343,000 jobs by 2021,

the need to develop more hotels to maintain

and improve our tourism potential, attracting

more major events and business conventions,

developing our digital economy and building

relationships with Asia.

With a global outlook, world-class infrastructure,

leading educational institutions and a highly

skilled workforce, Brisbane is a city fuelled by

innovation and I am very proud of the work

Brisbane Marketing is doing to drive our city’s

$114B economy.

My thanks to the Brisbane Marketing Board,

Chairman Ian Klug, CEO John Aitken and the

entire team who have worked throughout the year

to deliver significant economic returns for the

residents and businesses of Brisbane.

Graham Quirk

Lord Mayor


ChairMan’s reView This past year has been

a transformative one for

Brisbane Marketing with a

strong focus on economic

development which began

with the formation of the

Lord Mayor’s Economic

Development Steering

Committee – a proactive

working group which I enthusiastically Chair.

The Committee undertook industry forums with

a keen purpose to consult and to understand the

opinions, experience and expertise of Brisbane’s

business community across all industries. What

resulted was Brisbane’s Unique Window of

Opportunity report which has underpinned

Brisbane Marketing’s goals in relation to the

business community and the people of this city.

The Unique Window of Opportunity report

is far from a theoretical document.

In a very practical sense, it is a series

of recommendations translated into measurable

and deliverable projects that stimulate growth,

strengthen Brisbane’s competitive proposition

both nationally and globally as Australia’s New

World City and reinforce Council’s focus on

providing progressive leadership.

We have begun work on one of the

Unique Window of Opportunity’s most important

recommendations - the appointment

of Kieran O’Hea as Brisbane Chief

Digital Officer and the development of

a Digital Strategy. It is a strategy that

will cut across all our activities as we aim to create

a thriving digital ecosystem for the city that is rich

in new and profitable business opportunities.

In our day-to-day work, Brisbane Marketing

continues to support the goals of the Brisbane

Economic Development Plan 2012-2031. Key

corporate events such as the Lord Mayor’s

Business Awards and the Brisbane Innovation

Scorecard ensure that through close collaboration

with industry we develop and highlight our city’s

achievements and strive to maximise its potential.

Brisbane Marketing is dedicated to attracting,

nurturing and supporting a vibrant and diverse

calendar of events which profile the city as a place

to see international sporting matches, exclusive

exhibitions, live music and cultural events.

Over the past year we have assisted in the

promotion of a wide variety of events including:

Surrealism: The Poetry of Dreams, Queensland

Music Festival, Brisbane Festival, The Torres Strait

Islands: A Celebration; Matisse: Drawing Life;

popular Broadway musicals Mary Poppins and Dr

Zhivago; international sporting matches including

the Bledisloe Cup, Brisbane International and

Twenty20 Cricket; The Woodford Folk Festival and

Mercedes Benz Fashion Festival.

I would like to extend my sincere thanks to our

Chief Executive Officer, John Aitken, and our team

at Brisbane Marketing for the enthusiasm with

which they have embraced the Unique Window of

Opportunity recommendations. My gratitude also

to my fellow board members for their important

contributions to the organisation. To our Brisbane

Marketing members and corporate partners, I

thank you for your support and engagement with

us. And finally, my sincere thanks to Lord Mayor

Graham Quirk, Deputy Mayor and Infrastructure

Committee Chair Cr Adrian Schrinner, Chair

of the Finance, Administration and Economic

Development Committee Cr Julian Simmonds,

and all of the members of Civic Cabinet for their

vision for the growth and development of our city.

Under the leadership of our Board and

Management, Brisbane Marketing will continue

to work hard to position Brisbane as a leading

destination for business, investment, innovation,

international education, conventions and tourism.

I look forward to seeing the rewards our initiatives

bring for Brisbane in the coming year.

Ian Klug

Chairman


CeO’s FOrewOrd The 2011/12 financial year

marked an important

evolution for Brisbane

Marketing. As the city’s

economic development

board, Lord Mayor

Graham Quirk charged

us with taking the lead

in delivering the Economic Development Steering

Committee’s recommendations as outlined in the

Unique Window of Opportunity report, working

closely with Brisbane City Council and our business

community.

The aim is to leverage long-term sustainable

economic growth beyond the current resources

boom. These recommendations are based on

change creation and change management.

While change is never easy, our ability to embrace

it is key to our effectiveness in helping to build

business capacity and support long-term growth

for Brisbane.

Increasingly, Brisbane Marketing’s remit is to

focus on meeting specific industry needs and

respond to market forces through a series

of defined projects. My team has a vast and

diverse range of skills and a willingness to adapt,

prioritise, innovate and lead. They have taken up

the challenge thoughtfully and enthusiastically

and we are seeing the success of programs such

as the Innovation Scorecard - which profiles

companies, businesses and individuals committed

to excellence in innovation and recognises their

contribution to Brisbane’s long-term economic

growth, and the new Brisbane Greeters Program

- a free, guided tour for visitors led by local

volunteers.

Over the past financial year Brisbane Marketing

has delivered long-term and sustainable economic

development initiatives for Brisbane across our

business units:

Despite difficult economic times, our Investment

Attraction division attracted to Brisbane $145M of

investment, 392 new jobs and 74 retained jobs.

Of this investment, 90 per cent was from

international source markets, an increase of seven

per cent from 2010/11.

In December 2011, Investment Attraction launched

a bi-monthly publication, the Brisbane Economic

Series – an evolution of the Brisbane Economic

Annual, to provide more timely insights into the

city’s business climate and investment and growth

opportunities. The growth of our international

projects from key source markets such as

Spain, Italy, Germany and Canada continues to

strengthen Brisbane’s position as a key location

for business investment in the Asia Pacific region.

Despite a slight decline in international student

numbers to Australia, Study Brisbane was

proud to host its largest Brisbane Welcomes

International Students event in King George

Square in March. It was attended by more than

4000 newly-arrived international students and

more than 60 exhibitors. On the same day,

29 outgoing Brisbane International Student

Ambassadors were recognised by the Lord Mayor

for their volunteer activities which provided online

exposure of Brisbane as a student destination.

Now in its fourth year, the International Student

Ambassador Program continues to strengthen

Brisbane’s profile as a dynamic, opportunity-

rich place to study. Study Brisbane also began

developing a year-round program of Lord Mayor’s

International Student Friendship Ceremonies, set

for roll-out from July 2012. These ceremonies will

encourage international students to maintain links

with Brisbane throughout their careers, whether

they are realised locally or abroad.

Our Major Events division reported that 2.9M

people attended 20 major events hosted in

Brisbane, delivering an estimated economic

impact of $105M. Brisbane’s summer enjoyed

strong growth in attendance at the Brisbane

International Tennis and popular support for Mary

Poppins, Brisbane Festival, Woodford Folk Festival

and GoMA’s Matisse: Drawing Life.


Building on the momentum of the Wintergarden’s

$100M redevelopment and the Hilton Hotel’s $13M

facelift, our CBD Retail division continued to play

a strategic role in developing the CBD precinct as

the premier retail, business, workforce and tourism

destination of choice. Through an activation,

industry engagement and business development

program it produced, programed and marketed

1060 events, achieving $5.5M in media coverage.

This included a spectacular Christmas in the

City program featuring the new Myer Christmas

Parade and Pantomime; Romance In The City,

a new campaign centred around Valentine’s

Day and aimed at stimulating business after the

holiday period; a bigger, more interactive Easter

program and media familiarisations to highlight

the city’s vibrant laneways, shopping, dining and

entertainment.

The Convention Bureau contributed to a strong

year working with our key partners to attract

confirmed conference bid wins totalling $74.1M

in economic value for the city. The industry was

also bolstered by the re-opening of Brisbane

Convention & Exhibition Centre in January 2012

after a $140M refurbishment. More than 80 per

cent of confirmed bids fell within key industry

sectors such as: resources and energy, digital

industries, ICT and medical, life sciences and

biotechnology. The most significant win for

2011/12 was the International Water Association

(IWA) prestigious World Congress on Water

2016. It is expected to attract 3000 delegates

and deliver an estimated $9.5M to the city

with industry, government and universities

collaborating to support the bid. The bureau

showcased Brisbane’s business events, members’

products and services to potential clients, through

a number of initiatives including the Brisbane

Meeting Planners Guide and Unique Venues Guide.

Our Leisure Tourism division contributed to

Brisbane’s visitor economy by launching

four major destination marketing campaigns

including Brisbane summer and winter; Moreton

Bay & Islands and New Zealand which directly

delivered economic value of $50M; PR value of

$3.1M and secured approximately $700,000 in

advertising, sponsorships and grants. The team

also successfully implemented international

market development strategies in the USA, UK

and Europe and undertook development and

education programs (domestic packaging and

export programs) for local operators, supported

by additional grant funding from Tourism

Queensland.

I’m extremely proud of the achievements and

tenacity of my team. And on their behalf, I’d like

to thank our members and industry partners,

Lord Mayor Graham Quirk and Deputy Mayor

and Infrastructure Committee Chair Cr Adrian

Schrinner, Finance, Administration and Economic

Development Committee Chair Cr Julian

Simmonds, Colin Jensen, CEO of Brisbane City

Council, our Chairman Ian Klug and the Brisbane

Marketing Board for their support and confidence

throughout the year.

It is critically important that our business

continues to innovate, lead and evolve. Projects

set for the new financial year include the Hotel

Strategy, the Global Resource Hub and the

development of a Digital Strategy to position

the city to take its share of the $20 trillion global

digital economy.

In the year ahead we look forward to continuing

to work with Council, the industry and the

community to diversify Brisbane’s economy and

generate employment and prosperity.

John Aitken

Chief Executive Officer


the year aheadA Bright future: growth, identity, leadership

Brisbane Marketing’s programs and projects are

projected to deliver $418M in economic value to

Brisbane in the 2012-13 financial year, a return on

investment of 25:1. These will be reported on quarterly.

Projects in focus

Brisbane Marketing will focus on successfully

delivering all funded Unique Window of

Opportunity Projects including:

• The Global Resource Hub will maximise

the economic benefits of the resource sector

through a coordinated strategy to grow jobs,

maximise investment attraction, research

and development and ensure Brisbane is a

preferred home-base for professional fly-in-

fly-out workers who service resource projects

globally.

• The Lord Mayor’s International Student Friendship Ceremonies will reach out to

more than 1500 international students in

six ceremonies throughout the year. These

ceremonies will encourage student advocacy,

enhance Brisbane’s reputation as a socially

inclusive city, and form the foundation for The

Brisbane Ambassador Program.

• The Brisbane Greeters Program will

continue to offer visitors a warm welcome

and an insider’s perspective of the city. The

free walking tours are guided by passionate

volunteer locals keen to offer their personal

perspectives of Brisbane’s arts and culture,

food scene, history and heritage, family fun

and architecture. In 2012/2013, the program

aims to recruit 90 volunteers, conduct 640

tours and service 2200 visitors.

• The Brisbane Digital Strategy will seed

and nurture a thriving digital economy

in Brisbane, identify profitable business

opportunities and help create a better

lifestyle for locals.

It will harness the collective power of

Brisbane’s digital talent, its small-to-medium

businesses, multinationals, local government,

academia and citizens to open the door

for Brisbane to effectively engage in the

$US20 trillion global digital economy. Initial

priorities include conducting a digital audit,

stakeholder engagement, establishing a

Digital Brisbane hub for information, and

showcasing digital champions across the city.

• The Brisbane in Asia Strategy will deliver

$10M in economic benefits in 2012-13 through

business development initiatives in targeted

Asian markets, primarily China, over the next year.

• The Hotel Development Strategy

will attract and grow investment in Brisbane

hotels to address current and forecast CBD

accommodation shortages. It is anticipated the

city will require 300-450 new hotel rooms per

annum until 2022. Research indicates this supply

range is sustainable based on projected demand.

• The Major Events Strategy will achieve an

economic impact of $50M in 2012-13, increasing

to $55M in 2015. Strong growth in visitor numbers

is expected from major international sporting

events such as the Brisbane International and

Bledisloe Cup, and home-grown events such as

the Brisbane Racing Carnival.

• Brisbane Australia’s New World City

is a three-year campaign to position

Brisbane globally as a destination of choice

for business investment, careers, lifestyle,

conventions, education, tourism and major

events. This project will deliver $54M in

economic value in 2012-13.

Additional projects under development include:

• Start-up Brisbane: will implement a range

of initiatives to stimulate entrepreneurship,

raise awareness of the opportunity to create

globally-significant technology companies

from Brisbane and provide support to start-

up companies with high growth potential.

• Talent Attraction and Retention: will

assist Brisbane’s professional services

employers address Brisbane’s skills shortage

and achieve their workforce objectives by

supporting professionals in high economic

value producing roles in Brisbane.

• Brisbane Business Network: will aim

to create a strong city-wide business

network to enhance the capacity of existing

networks to manage critical supply and

development issues. With a longer-term goal


of effecting cultural change in Brisbane’s

economy, the network will nurture initiatives

in export, innovation, digital capabilities,

entrepreneurship and talent attraction across

key industry sectors.

• 133BNE Business Hotline and the Brisbane Creative and Cultural Strategy: In partnership with the Lord Mayor and

Brisbane City Council, Brisbane Marketing will

support the uptake of the 133BNE Business

Hotline, a dedicated support line for existing

and potential Brisbane-based businesses and

the Brisbane Creative and Cultural Strategy.

Business units in focus:Brisbane Marketing is set for another productive

year advancing Brisbane as Australia’s New World

City. Chairman Ian Klug will continue his important

work as Chair of the Economic Development

Steering Committee, which will further engage

industry and businesses across

the city to identify where Brisbane Marketing

can better support them in growing Brisbane’s

$114B economy.

In support of the new Brisbane Economic

Development Plan 2012-2031, Brisbane Marketing’s

business units will focus their efforts on projects

that keep abreast of market forces, meet industry

needs and strengthen Brisbane’s economy.

Our Investment Attraction division will:

• focus on new initiatives including the

Global Resources Hub project and the Hotel

Development strategy

• continue to attract interstate and overseas

investment where Brisbane is either already

globally competitive or where gaps in key

supply chains exist

• continue to grow the key source markets of

Western Europe, North America and Canada

• continue to investigate new Asian and Latin

American markets.

Study Brisbane will:

• focus on Brisbane’s workforce needs

• expand its membership and

ambassador programs

• continue to promote the city’s profile via the

Brisbane in Asia strategy.

Our Major Events division will:

• strive to achieve an economic impact of

$50M for the city through event leveraging,

marketing and development for new, existing

and home-grown events

• enact the major events strategy to ensure a

balanced calendar of events and strengthen

Brisbane’s events culture.

The Convention Bureau will:

• assist in growing convention opportunities

for the city

• support and work with our members to

maximise the economic value of confirmed

conferences to the city

• strive to exceed its target of $60M

in economic value by attracting new

conferences in key sectors and delivering

more than 350,000 delegate days

• continue to offer members a range of

campaign opportunities that target business

event decision-makers and deliver return on

investment for their membership.

Our Leisure Tourism division will:

• focus on increasing visitation through

two major domestic marketing programs:

Brisbane summer and Brisbane winter

• deliver an international program targeting

backpackers and travel trade in the New

Zealand, UK, USA and Europe markets.

Our CBD Retail team will:

• continue marketing the CBD precinct as a

key retail, business, workforce and tourism

destination

• coordinate a program of 1000 live music and

community events

• increase stakeholder engagement through

comprehensive business-to-business and

industry strategies.


key PerFOrManCe indiCatOrs

KPI Description Target Achievement

Convention Bureau

1. Convention bids wins (including BCEC & business assisted bids supported by BM)

45 39

2. Economic value of bid wins $45M $74.1M

3. Request for proposal sent to Convention members 278 224

4. Target Business events that are aligned with Investment Attraction, Qld Gov and BCC key industry sectors

> 70% 82%

5. Membership number and value of Convention members 150/ $275K 168/ $263K

Investment Attraction

1. Attraction of new jobs to Brisbane 585 Jobs 392 Jobs

2. Attraction of capital investment to Brisbane $150M $145M

Export

1. International Students - Brisbane's share of Qld's annual international students cohort

70% 85%

Major Events

1. Attract, develop and leverage major events 15 events attracting 1M visitors 20 events attracting 2.9M visitors

Leisure Tourism

1. Maintain % share of total QLD domestic interstate visitor nights

20.4 23

Maintain % share of total QLD intrastate visitor nights 19.6 19

Maintain % share of total QLD international visitor nights 41 44

Maintain % share of total domestic QLD VFR visitor nights

40 28

Maintain % share of total international QLD VFR visitor nights

29 52

2. Membership: number and value of Essential members 450 / $160K 277/ $111K

Visitor Information Centre

1. Visitor Information revenue $2.395M $2.036M

CBD Retail

1. Queen Street Mall Events Program - deliver/facilitate events 1000 events 1060 events

Media and Communications

1. Media value generated $12.6M $11.45M

Financial

1. Value of non-Council revenue generated by Brisbane Marketing

$6.900M $6.422M

2. Value of sponsorship, co-operative advertising & participation Fees

$1.355M $1.386M



OUr BOardIan Klug (Chairman), Company Director

Belinda Walters, Company Director

Peter Sherrie, Director, Excel Development Group

Geoff Harley, Consultant, Clayton Utz

Anthony Hayes, Chief Executive Officer, Tourism Queensland

Sean Ryan, General Manager, Nova 106.9

Malcolm Hall-Brown, Company Director

Phillip Di Bella, Founder, Di Bella Coffee

Ben Myers, (resigned May 2012) Company Director

David Askern, Company Secretary

COrPOrate gOVernanCeAudit and Risk Management CommitteeThe Audit and Risk Management Committee

supports and advises the Board on the Company’s

financial reporting, risk management function,

control environment and legal and regulatory

compliance. It has a clear operating charter and

seeks independent advice where appropriate.

The Board determines membership of the

Committee. The Audit and Risk Management

Committee consists of at least three Directors,

the majority of whom, including the Chair, are

independent.

The Committee met four times over the

reporting period.

The Audit and Risk Management

Committee comprises:

• Malcolm Hall-Brown (Chair)

• Geoff Harley

• Peter Sherrie

• Ian Klug (ex-officio member)

Committee meetings are also attended by internal

and external auditors, the Chief Executive Officer,

the Director Finance and Operations and others at

the discretion of the Committee.

During the reporting period, the following

functions were reviewed by internal audit:

• Revenue and Related

Internal Controls

• Contracts Management

The structure and adequacy of Brisbane

Marketing’s insurances are evaluated every year.

The business risk register is reviewed quarterly by

the Executive Management team led by the Chief

Executive and Director of Finance and presented

to the Audit and Risk Management Committee for

review and approval.

Remuneration and Succession CommitteeThe Remuneration and Succession Committee

supports and advises the Board in relation to

Brisbane Marketing’s remuneration and succession

policies and practices.

The Board determines membership of the

Committee. The Remuneration and Succession

Committee consists of at least three Directors,

the majority of whom, including the Chair, are

independent.

The Committee met four times during the

reporting period.

The members of the Remuneration and

Succession Committee are:

• Geoff Harley (Chair)

• Belinda Walters

• Ian Klug (ex officio member)

Committee meetings are also attended by the

Chief Executive Officer, the Director Finance and

Operations, the Manager Human Resources and

others at the discretion of the Committee.


annUaL FinanCiaL stateMents

16 Directors’ Report

18 Auditor’s Independence Declaration

19 Statement of Comprehensive Income

20 Statement of Financial Position

21 Statement of Changes in Equity

21 Statement of Cash Flows

22 Notes to and Forming Part of the Financial Statements

33 Directors’ Declaration

34 Independent Auditor’s Report


BRISBANE MARKETING PTY LTD

direCtOrs’ rePOrtThe Directors present their report on the company

for the financial year ended

30 June 2012.

DirectorsThe names of Directors in office at any time

during or since the end of financial year are:

I Klug

B Walters

P Sherrie

G Harley

A Hayes

S Ryan

M Hall-Brown

P Di Bella

B Myers

(resigned May 2012)

Principal ActivitiesThe principal activity of the company during

the financial year was focussed on driving long

term economic and social benefits to residents

and businesses of Brisbane through its various

business sectors, including business investment,

business conventions, export development, leisure

tourism, CBD and Queen Street Mall retail. No

significant change in the nature of these activities

occurred during the year.

Operating ActivitiesThe profit from ordinary activities of the company

for the financial year ended 30 June 2012 was

$2,338,900 and the financial year ended 2011 was

a loss of $(445,685).

Review of OperationsThe majority of revenue received by

the company was by way of grants

from the Brisbane City Council.

The majority of expenses incurred was

in relation to labour costs and advertising and

promotional events.

Future DevelopmentsBrisbane Marketing Pty Ltd expects to continue

to create financial and social economic value for

the residents and businesses of Brisbane through

its various business sectors. Its direction will

continue to be guided by the Brisbane Economic

Development Plan 2012 - 2031 and the Unique

Window of Opportunity report.

Directors’ BenefitsRelated Party transactions are disclosed in note 17

of the financial statements.

Company DetailsThe company is an Australian proprietary

company limited by shares, incorporated and

registered in Brisbane, Queensland.

The Brisbane City Council is the sole shareholder.

The registered address is:

Level 23, Brisbane Square

266 George Street

Brisbane QLD 4000

Australia

The principal place of business is:

Level 8, Roy Harvey House

157 Ann Street

Brisbane QLD 4000

Australia



direCtOrs’ MeetingsDuring the year, the number of Directors’ meetings and number of meetings attended by each of the

Directors of the company are:

Names Number eligible to attend Number attended

I Klug 10 10

B Walters 10 10

P Sherrie 10 8

G Harley 10 8

A Hayes 10 6

S Ryan 10 8

M Hall-Brown 10 9

P Di Bella 10 6

B Myers 9 7

Auditor’s Independence DeclarationA copy of the auditor’s independence declaration as required under section 307c of the Corporations

Act 2001 is set out on page 4.

Signed in accordance with a resolution of the Directors.

..………….......................... ..…………..........................

I Klug M Hall-Brown

Chairman Director

26/9/2012 26/9/2012


..…………..........................


aUditOr’s indePendenCe deCLaratiOnTo the Directors of the Brisbane Marketing Pty Ltd

This audit independence declaration has been provided pursuant

to 307c of the Corporations Act 2001.

Independence DeclarationAs lead auditor for the audit of Brisbane Marketing Pty Ltd for the year ended 30 June 2012, I declare

that, to the best of my knowledge and belief, there have been –

a) no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation

to the audit; and

b) no contraventions of any applicable code of professional conduct in relation to the audit.

D A STOLZ FCPA Queensland Audit Office

As Delegate of the Auditor-General of Queensland Brisbane



stateMent OF COMPrehensiVe inCOMeFOR THE YEAR ENDED 30 JUNE 2012

Note 2012 $

2011 $

REVENUES

Ticket sales through Visitor Information Centre 2,035,747 1,940,564

Advertising, sponsorship and membership income 2,793,471 2,604,196

Grants, subsidies and sponsorships - Brisbane City Council

10,203,233 10,805,209

Grants, subsidies and sponsorships - Other 1,111,173 1,224,947

Interest Income 315,523 330,527

Other income 166,015 119,479

Total Revenue - Core Operating Activities 16,625,162 17,024,922

Contribution - Brisbane Convention & Visitors Bureau 3 249,537 -

Contribution - City Bid Fund 3 1,852,655 -

Total Revenues 18,727,354 17,024,922

ExPENSES

Employee expenses 6,495,717 6,653,705

Materials and services 4,168,357 4,233,219

Advertising and publications 4,055,841 4,807,469

Business development 1,446,006 1,577,124

Depreciation and amortisation 115,907 137,698

Bank charges 28,683 20,351

Loss on disposal of assets 30,790 13,430

Auditing fees - Queensland Audit Office (audit of accounts)

22,491 17,400

Auditing fees - Brisbane City Council (internal audit) 24,662 10,211

Total Expenses 4 16,388,454 17,470,607

Net Surplus(Deficit) 2,338,900 (445,685)

The above Statement of Comprehensive Income should be read in conjunction with the notes to and forming part of the financial statements set out on the attached pages.



stateMent OF FinanCiaL POsitiOnAS AT 30 JUNE 2012

Note 2012 $

2011 $

CURRENT ASSETS

Cash and cash equivalents 5 7,232,682 5,182,834

Trade and other receivables 6 346,683 530,056

Inventories 7 4,660 17,709

Prepayments 8 126,188 96,912

Total Current Assets 7,710,213 5,827,511

NON CURRENT ASSETS

Plant and equipment 9 313,974 242,680

Intangible assets 10 10,887 32,200

Total Non Current Assets 324,861 274,880

Total Assets 8,035,074 6,102,391

CURRENT LIABILITIES

Trade and other payables 11 2,257,722 2,017,529

Provisions 13 365,539 452,953

Deferred income 12 625,573 1,039,846

Total Current Liabilities 3,248,834 3,510,328

NON CURRENT LIABILITIES

Provisions 13 28,352 23,538

Deferred income 12 - 149,537

Total Non Current Liabilities 28,352 173,075

Total Liabilities 3,277,186 3,683,403

Net Assets 4,757,888 2,418,988

SHAREHOLDER’S EQUITY

Contributed equity 1 1

Reserves 14 2,351,475 384,589

Retained earnings 2,406,412 2,034,398

Total Shareholder's Equity 4,757,888 2,418,988

The above Statement of Financial Position should be read in conjunction with the notes to and forming part of the financial statements set out on the attached pages.



stateMent OF Changes in eQUityFOR THE YEAR ENDED 30 JUNE 2012


stateMent OF Cash FLOwsFOR THE YEAR ENDED 30 JUNE 2012

2011/12 Note Total $

Contributed Equity

$

Reserves $

Retained Profits $

Balance at beginning of year

2,418,988 1 384,589 2,034,398

Net profit / (loss) 4,168,357 - - 4,168,357

Transfers from reserve

14 - - (330,431) 330,431

Transfers to reserve 14 - - 2,297,316 (2,297,316)

Balance at Year End 6,587,345 1 2,351,474 4,235,870

2010/11 Note Total $

Contributed Equity

$

Reserves $

Retained Profits $

Balance at beginning of year

2,864,673 1 395,494 2,469,178

Net profit / (loss) (445,685) - - (445,685)

Transfers from reserve

14 - - (236,789) 236,789

Transfers to reserve 14 - - 225,884 (225,884)

Balance at Year End 2,418,988 1 384,589 2,034,398

The Statement of Changes in Equity should be read in conjunction with the accompanying notes.

The Statement of Cash Flows should be read in conjunction with the accompanying notes.

Note 2012 $

2011 $

CASH FLOWS FROM OPERATING ACTIVITIES

Cash receipts from customers 8,656,791 6,123,003

Proceeds from subsidies and grants 11,314,406 12,030,156

Payments to suppliers and employees (17,393,981) (18,060,906)

Interest received 315,523 330,527

GST paid to the Australian Tax Office (646,213) (684,436)

Net Cash Flows used in operating activities 15 2,246,526 (261,656)

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisitions of plant and equipment (196,678) (128,196)

Acquisitions of intangibles - (16,889)

Net Cash Flows used in investing activities (196,678) (145,085)

NET (DECREASE) / INCREASE IN CASH HELD 2,049,848 (406,741)

Cash at the beginning of the year 5,182,834 5,589,575

Cash at the end of the year 5 7,232,682 5,182,834


1. Basis of Preparation

The financial report is a general purpose financial report which has been prepared in accordance with the requirements of the Australian Accounting Standards and Interpretations (AASBs) and the Corporations Act 2001.

The financial statements were authorised for issue by the Directors on 26 September 2012.

The financial report is prepared on an accruals basis. It is based on historical costs, and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in exchange for assets. The accounting policies have been consistently applied, unless otherwise stated. The company is a for-profit entity.

2. Statement of Significant Accounting Policies

The following is a summary of the material accounting policies adopted by the company in the preparation of the financial report.

(a) Income Tax The Company is exempt from Commonwealth Income Tax as a State/Territory Body under Section 24AT of the Income Tax Assessment Act 1936.

(b) Goods and Services Tax Revenues, expenses, intangibles, plant and equipment are recognised net of the amount of goods and services tax (GST), except where the amount of GST incurred is not recoverable from the Australian Tax Office (ATO). In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense.

Receivables and payables are stated with the amount of GST included.

The net amount of GST recoverable from, or payable to, the ATO is included as a current asset or liability in the Statement of Financial Position.

Cash flows are included in the Statement of Cash Flows on a gross basis. The GST components of cash flows arising from investing and financing activities which are recoverable from, or payable to, the ATO are classified as operating cash flows.

(c) Revenue Recognition Revenue from the sale of goods is recognised upon the delivery of goods to the customer, and measured at fair value.

Revenue from the rendering of services is recognised upon the delivery of the service to the customer, and measured at fair value.

Grants, subsidies and sponsorships are recognised as revenue when the company obtains control over assets comprising these contributions, and measured at fair value.

Interest revenue is brought to account when earned.

(d) Contra Benefits Contra benefits represent benefits derived by the company for services received pursuant to the terms and conditions of various sponsorship agreements. Contra benefits are recognised in the financial report at their estimated fair market value at time of consumption (revenues and expenses being shown gross and not offset).

(e) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities on the statement of financial position.


nOtes tO and FOrMing Part OF the FinanCiaL stateMentsFOR THE YEAR ENDED 30 JUNE 2012




2. Statement of Significant Accounting Policies (continued)(f) Trade and Other Receivables Receivables are due for settlement in 30 days and are carried at amounts due. An analysis of outstanding receivables is shown in Note 22.(d). The collectability is assessed at period end and an allowance is made for doubtful accounts.

(g) Inventories Inventories represent ticket stock and are measured at the lower of cost and net realisable value.

(h) Plant, Equipment and Intangibles Plant, equipment and intangibles are carried at cost, less where applicable, any accumulated depreciation. Items of plant, equipment and intangibles with a total cost of less than $1,000 are treated as an expense in the year of acquisition. All other items of plant, equipment and intangibles are capitalised and subject to impairment testing.

The depreciation and amortisation rates used for each class of asset are:

Depreciation rates: Furniture and fittings - Diminishing Value - Between 4 and 20 years Furniture and fittings - Straight line - Between 4 and 20 years Computer equipment - Diminishing Value - Between 3 and 4 years

Amortisation rates: Computer software - Straight Line – 2.5 years

Depreciation represents the consumption of the service potential embodied in the asset. To achieve sytematic and rational allocation over their estimated useful lives. The estimated lives are reviewed annually.

(i) Trade and Other Payables Creditors and accruals represent liabilities for goods and services provided to the company prior to the end of the financial year and which are unpaid. These amounts are unsecured and are usually paid within 30 days.

(j) Employee Benefits Employee benefits relate to amounts expected to be paid to or on behalf of employees for annual leave, long service leave, workers’ compensation and superannuation.

Accrued annual leave is recognised in other payables and represents the amount which Brisbane Marketing Pty Ltd has a present obligation to pay resulting from employees’ services provided up to balance date. The accrual has been calculated at nominal amounts based on remuneration rates expected to be paid when the liability is settled and includes related on-costs.

The provision for long service leave represents the present value of the estimated future cash outflows to be made by the company resulting from employees’ services provided up to balance date.

The provision comprises amounts that the company has a present obligation to pay resulting from employees’ services provided up to balance date and an estimate of future obligations taking into account future increases in wage and salary rates, periods of service and experience of employee departures. Related on-costs have also been included in the provision.

Contributions are made by the company to an employee superannuation fund and are charged as an expense when incurred.

(k) Reserves(i) Reserve - Convention Bids

Was created for unspent funds relating to future conventions.

(ii) Reserve - BCVB Was created from unearned revenue when Brisbane Conventions & Visitors Bureau was merged into Brisbane Marketing.

(iii) Reserve - City Bid Fund Brisbane Marketing administer the Brisbane City Conference and Accomodation Bid Fund on behalf of its members; Brisbane Marketing Pty Ltd, Brisbane Convention & Exhibition Centre and Queensland Hotels Association.




2012 $

2011 $

3. Revenue

(a) Contribution - Brisbane Convention & Visitors Bureau 249,537 -

Proceeds from Brisbane Convention & Visitors Bureau Limited. These funds are to be held in a retained earnings reserve for future operational activities within the convention attraction industry.

(b) Contribution - City Bid Fund 1,852,655 -

Revenue resulting from the execution of the City Bid Fund Agreement between Brisbane Marketing Pty Ltd, Brisbane Convention & Exhibition Centre and Queensland Hotels Association. Brisbane Marketing Pty Ltd will administer the monies of the City Bid Fund that are to be held in a retained earnings reserve for future operating activities of the group in the convention attraction industry.

4. Expenses

Total Expenses 16,388,454 17,470,607

Included in Materials and Services is the cost of goods sold through the Visitor Information Centre amounting to: 1,754,696 1,606,768




2012 $

2011 $

5. Cash And Cash Equivalents

Current

Cash on hand 2,500 2,000

Cash at bank

Cheque Account 1,060,945 1,134,373

QTC - Capital Guaranteed Fund 159,916 334,127

Suncorp - Term Deposit 4,000,000 1,000,000

CBA - City Bid Fund Joint Account 1,852,168 -

Visitor Information Centre Trust Account/Client Travel Account 157,153 536,778

BankWest - Term Deposit - 1,000,000

NAB - Term Deposit - 1,000,000

CBA - BCVB Marketing Funds - 175,556

7,232,682 5,182,834

2012 $

2011 $

6. Trade And Other Receivables

Current

Trade 243,690 497,355

Income Accrual 102,993 32,701

346,683 530,056

7. Inventories

Current

Stock of tickets 4,660 17,709

8. Prepayments

Current

Prepayments 126,188 96,912

The company operates a Client Travel Account in which amounts are held pending payment of operators. This fund is maintained in accordance with the Travel Compensation Fund Guidelines.

In July 2006, the company set up the City Bid Fund with Brisbane Convention and Exhibition Centre (BCEC) and hotel industry partners. The fund was created to provide commercial incentives to attract business events to Brisbane. In 2011/12 a separate bank account (CBA - City Bid Fund Joint Account) was set up, and is administered by Brisbane Marketing Pty Ltd on behalf of the members of the fund.

Excess funds are invested in the QTC Capital Guaranteed Cash Fund account and Term Deposit accounts with National Australia Bank, BankWest and Suncorp.




2012 $

2011 $

9. Plant and Equipment(a) Plant and Equipment

Computer equipment –

At cost 255,716 222,956

Accumulated depreciation (167,085) (103,193)

88,631 119,763

Office furniture and equipment –

At cost 116,337 126,550


41,720 48,873

Fixtures and fittings –

At cost 193,041 119,558


150,509 74,044

Motor Vehicle -

At cost 37,845 -

Accumulated depreciation (4,731) -

33,114 -

313,974 242,680

(b) Movements in Carrying Amounts

ComputerEquipment

$

Office Furniture & Equipment

$

Fixtures &Fittings

$

Motor

Vehicle $

2012 Total

$

2011 Total

$

Balance at the beginning of year

119,763 48,873 74,044 - 242,680 245,741

Additions 32,760 11,692 114,381 37,845 196,678 128,196

Disposals / write-offs

- (8,051) (22,739) - (30,790) (13,430)

Depreciation expense (63,892) (10,794) (15,177) (4,731) (94,594) (117,827)

Carrying amount at the end of year

88,631

41,720

150,509

33,114

313,974

242,680

2012 $

2011 $

10. Intangibles(a) Intangibles

Computer software –

At cost 81,499 81,499

Accumulated amortisation (70,612) (49,299)

10,887 32,200


(b) Movements in Carrying Amounts

Computer Software

$

2012 Total

$

2011 Total

$

Balance at the beginning of year 32,200 32,200 35,182

Additions - - 16,889

Disposals - - -

Amortisation expense (21,313) (21,313) (19,871)

Carrying amount at the end of year 10,887 10,887 32,200



2012 $

2011 $

11. Trade and Other Payables

Current

Trade creditors 1,730,923 1,428,846

Other creditors 526,799 588,683

2,257,722 2,017,529

12. Deferred Income

Current

Unearned revenue from Brisbane Convention & Visitors Bureau - 100,000

Sales income in advance 524,317 833,051

Membership subscriptions in advance 101,256 106,795

625,573 1,039,846

Non-Current

Unearned revenue from Brisbane Convention & Visitors Bureau - 149,537

- 149,537

625,573 1,189,383

13. Provisions

Current

Make Good of Lease - 15 Adelaide Street, Brisbane - 155,000

Accrued employee benefits 365,539 297,953

365,539 452,953

Non-Current

Long service leave 28,352 23,538

393,891 476,491

Number of full-time equivalent employees at year end 61.3 55.5




2012 $

2011 $

14. Movement in Reserves

(i) Reserve - Convention Bids

Balance at the beginning of year 384,589 395,494

Transfer out to meet current period expenditure / lost bids (251,179) (236,789)

Transfer in to meet future expected expenditure 195,124 225,884

Balance at end of year 328,534 384,589

(ii) Reserve - BCVB

Balance at the beginning of year - -

Transfer out to meet current period expenditure / lost bids (50,000) -

Transfer in to meet future expected expenditure 249,537 -

Balance at end of year 199,537 -

(iii) Reserve - City Bid Fund

Balance at the beginning of year - -

Transfer out to meet current period expenditure / lost bids (29,251) -

Transfer in to meet future expected expenditure 1,852,655 -

Balance at end of year 1,823,404 -

2,351,475 384,589

15. Cash Flow Information

Reconciliation of profit to the net cash flows used in operating activities:

Net Profit / (Loss) 4,168,357 (445,685)

Non-cash flows in profit from ordinary activities

Depreciation & amortisation 115,907 137,698

Write off of assets 30,790 13,430

Changes in assets and liabilities:

(Increase) / decrease in

Trade and other receivables 183,373 31,682

Inventories 13,049 15,128

Prepayments (29,276) 26,198

Increase / (decrease) in

Trade payables and other payables 293,672 133,591

Deferred income (563,810) (236,309)

Provisions (136,079) 62,611

Net cash flows used in operating activities 4,075,983 (261,656)




16. Segment Reporting

The Company operates predominantly in one geographical segment and one industry segment as a promoter of Brisbane for tourism, conventions and business investment activities.

17. Related Party Transactions

Directors

The names of persons who have held the office of director during the year are:

I Klug P Sherrie S Ryan M Hall-Brown B Walters G Harley A Hayes P Di Bella B Myers

2012 $

2011 $

(a) Directors’ remuneration

Directors’ Fees 215,516 199,351

Superannuation 14,447 17,942

229,963 217,293

(b) Key management personnel remuneration

Short-term employee benefits 1,358,168 1,375,303

(c) Transactions with the Brisbane City Council, the ultimate and Australian controlling entity

During the year Brisbane City Council provided grants and subsidies to Brisbane Marketing Pty Ltd with a total value of $10,203,233 (2011: $10,805,209).In addition the amounts for goods and/or services supplied by Brisbane City Council based on normal terms and conditions to the company were as follows:

Car Lease 933 12,201

Cleaning 2,327 1,007

Insurance Services 6,238 5,001

Internal Audit Services 24,662 10,211

Labour Hire 22,109 38,181

Legal Services 13,330 -

Parking 4,964 3,203

Promotional Services 36,759 22,814

Tickets - City Sights Tours 94,315 86,874

Venue Hire 6,179 -

Work Cover Costs 13,353 12,092

225,169 191,584




17. Related Party Transactions (Continued)

(d) Transactions with director related parties

Director Related Party Transaction Purchases $

Sales $

P Di Bella Di Bella Coffee Membership 2,665

G Harley Clayton Utz Sales represent: partnership contributions.

14,038 22,000

Translink Transit Authority

Membership, sponsorship, advertising and rent

64,602

A Hayes Tourism Queensland Grants, promotional activities, advertising and subscriptions

100,225 451,622

Events Queensland Grants, promotional activities, advertising and subscriptions

10,000 44,000

S Ryan Nova 106.9 Membership and sponsorship 19,910

124,263 604,799

18. Events Subsequent to Reporting Date

No events of a material nature have occurred subsequent to balance sheet date.

19. Contingencies

There are no contingencies of a material nature as at balance sheet date.

20. Commitments

(a) Lease Rental Commitments

The operating lease rentals of property, plant and equipment contracted for at balance sheet date but not provided in the financial statements are payable as follows:

2012 $

2011 $

Not later than 1 year 491,604 266,007

Later than 1 year but not later than 5 years 2,221,813 -

2,713,417 266,007

(b) Contractual Commitments in respect of Operating Expenditure

Contractual commitments at balance sheet date but not provided for in the financial statements are payable as follows:

Not later than 1 year 35,514 48,449

Later than 1 year but not later than 5 years 121,340 51,576

156,854 100,025




21. Economic Dependency

Brisbane Marketing’s activities are dependent upon grant funding from the Brisbane City Council. Funding support has been agreed to by the Council for 2012/13.

22. Financial Instruments Disclosure

(a) Financial Risk Management Objectives and Policies

The Board provides written policies for overall risk management.

Risk management is carried out by the executive management team and risk management activities are reviewed by Brisbane Marketing’s Audit and Risk Management Committee.

The Company Manages liquidity risk by continously monitoring cashflows. The following sets out the contractual maturity of the company’s Financial Liabilities.

(b) Liquidity risk

Liquidity risk refers to the ability of an entity to meet its obligations associated with financial liabilities. The Company Manages liquidity risk by continously monitoring cashflows. The following sets out the contractual maturity of the companies Financial Liabilities.

2011/12

Note Floating Interest Bearing

$

Non-Interest Bearing

$

Total

$

Financial Liabilities

Trade & other payables 11 - 2,257,722 2,257,722

Total financial liabilities - 2,257,722 2,257,722

2010/11

Note Floating Interest Bearing

$

Non-Interest Bearing

$

Total

$

Financial Liabilities

Trade & other payables 11 - 2,017,529 2,017,529

Total financial liabilities - 2,017,529 2,017,529




22. Financial Instruments Disclosure (Continued)

(c) Interest Rate Risk

Interest rate risk refers to possible fluctuations in the values of financial instruments as a result of changes in market rates. Exposure to interest rate risk arises predominantly from assets and liabilities bearing variable interest rates as the company intends to hold financial assets and liabilities to maturity.

Interest rate sensitivity The following table details the company’s sensitivity to an expected 1% maximum fluctuation in interest rates if all other variables were held constant:

Increase / (Decrease) in Operating Capability and Equity 2012 $

2011 $

1% increase in interest rate 73,202 51,808

1% decrease in interest rate (73,202) (51,808)

(d) Credit Risk

Credit risk is the risk that a counterparty fails to meet its obligation and the Company’s exposure is limited to cash and receivables.

The maximum exposure to credit risk at balance date to recognised financial assets is the carrying amount of those assets, net of any allowance for doubtful debts, as disclosed in the statement of financial position and notes to the financial statements.

The following table represents an analysis of the age of the company’s financial assets:

The company pays its debts in accordance with the entity’s credit policies and management of cashflows.

Trade and Other Receivables 2012 $

2011 $

Less than 30 days 90,746 277,257

Past due 1 - 30 days 203,702 82,601

31 - 60 days 18,889 81,365

61 - 90 days 7,534 82,698

over 90 days 25,812 6,135

Total 346,683 530,056

Trade and Other Receivables have been assessed for impairment.

(e) Fair Values

Due to the nature of cash, accruals, other financial assets and liabilities their net fair value approximate their carrying value.



direCtOrs’ deCLaratiOnThe Directors of the company declare that:

1. The financial statements and notes, as set out on pages 19 to 32 present fairly the company’s financial position as at 30 June 2012 and its performance for the year ended on that date in accordance with the Australian Accounting Standards and other mandatory professional reporting requirements;

2. In the Directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

On behalf of the Board

..………….......................... ..…………..........................

I Klug M Hall-Brown

Chairman Director

26/9/2012 26/9/2012


Report on the Financial Report

I have audited the accompanying financial report of Brisbane Marketing Pty Ltd, which comprises the statement of financial position as at 30 June 2012, the statement of comprehensive income, statement of changes in equity and statement of cash flow for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the Directors’ declaration.

Directors’ Responsibility for the Financial Report

The Directors of the company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the Directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

My responsibility is to express an opinion on the financial report based on the audit. The audit was conducted in accordance with the Auditor-General of Queensland Auditing Standards, which incorporate the Australian Auditing Standards. Those standards require compliance with relevant ethical requirements relating to audit engagements and that the audit is planned and performed to obtain reasonable assurance about whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Directors, as well as evaluating the overall presentation of the financial report. I believe that the audit evidence obtained is sufficient and appropriate to provide a basis for my audit opinion.

Independence

The Auditor-General Act 2009 promotes the independence of the Auditor-General and all authorised auditors. The Auditor-General is the auditor of all Queensland public sector entities and can be removed only by Parliament. The Auditor-General may conduct an audit in any way considered appropriate and is not subject to direction by any person about the way in which audit powers are to be exercised. The Auditor-General has for the purposes of conducting an audit, access to all documents and property and can report to Parliament matters which in the Auditor-General’s opinion are significant. In conducting the audit, the independence requirements of the Corporations Act 2001 have been complied with. I confirm that the independence declaration required by the Corporations Act 2001, which has been given to the Directors of Brisbane Marketing Pty Ltd, would be in the same terms if given to the Directors as at the time of this auditor’s report.

Opinion

In my opinion –

The financial report of Brisbane Marketing Pty Ltd is in accordance with the Corporations Act 2001, including -

(i) giving a true and fair view of the company’s financial position as at 30 June 2012 and of its performance for the year ended on that date; and

(ii) complying with Australian Accounting Standards and the Corporations Regulations 2001.

To the Members of Brisbane Marketing Pty Ltd.


indePendent aUditOr’s rePOrt

..…………..........................

DA STOLZ FCPA Queensland Audit Office (as Delegate of the Auditor-General of Queensland) Brisbane



Level 8 Roy Harvey House, 157 Ann Street, BRISBANE CITY QLD 4000

PO Box 12260, George Street BRISBANE CITY QLD Australia 4003

T: +61 7 3006 6200 F: +61 7 3006 6250

E: [email protected]

brisbanemarketing.com.au

2011 - 2012 Brisbane Marketing Annual Report

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