annual report 2010 - 2011 - shrine of remembrance

Annual Report 2010 - 2011

SHRINE OF REMEMBRANCE | MELBOURNE 1

Contents

Chairman’s Report 2

Charter, Vision, Mission & Values 3

Organisation Structure & Responsibilities 4

Chief Executive’s Report 11

2010/2011 Review of Operations 12

Outlook for 2011/2012 18

Financial Report 19

Disclosure Index 39

Appendix 40

Produced by the Shrine of Remembrance Trustees

GPO Box 1603 Melbourne 3001Tel: (03) 9661 8100Fax: (03) 9662 9411Email: [email protected]

www.shrine.org.au

2 SHRINE OF REMEMBRANCE | MELBOURNE SHRINE OF REMEMBRANCE | MELBOURNE 3

Charter, Vision, Mission & ValuesChairman's Report

The Hon Hugh Delahunty MPMinister for Veterans AffairsParliament HouseMelbourne VIC 3000

Dear Minister,

It is with great pleasure that I submit the 2010/2011 Annual Report on behalf of the Shrine of Remembrance Trustees.

2010/11 was another year of signifi cant achievement at the Shrine with over 570,000 visitors, including more than 45,000 school children who have accessed the Shrine’s Public Education Programs either on-site or through the Outreach Programs at both regional centres and metropolitan schools.

One of the changes of recent years has been the increase in larger ceremonies in addition to ANZAC Day, Legacy Children’s Day and Remembrance Day such as Vietnam Veterans Day, the Battle for Australia Day, the Battle of Fromelles Service and the Indigenous Returned Service Men and Women Remembrance Service.

This continual growth in visitation and the expanding interest in Australian military history are placing ever increasing demands on the Shrine’s limited public education facilities, exhibition spaces, offi ces and storage accommodation. We need to continue to explore ways to satisfy these demands especially with the lead up to the centenaries of ANZAC and the First World War.

In partnership with the City of Melbourne, the Shrine Landscape Improvement Plan was implemented with the Year 2 works including the replacement of over 200 trees on the Shrine Reserve. In addition, with the signifi cant support of Citywide we installed the Ex-Servicewomen’s Memorial Garden in November 2010 specifi cally designed to represent the 70,000 women who have served Australia. Also in November 2010 the New Zealand Government provided a Kauri Pine which was planted in the Shrine Reserve to commemorate the service and sacrifi ce of New Zealand servicemen and servicewomen.

Under the Shrine Act the Trustees may improve the undercroft land for the purposes of creating the galleries of remembrance and related facilities subject to the approval of the Governor-in-Council on the recommendation of the Minister. Concept work has progressed in some depth on this task over the last six years and is continuing.

The Trustees are pleased the Victorian Government is implementing the recommendations of the 2009 State Services Authority (SSA) review into the Shrine of Remembrance governance and institutional arrangements. Of particular importance is that the Government has moved to amend the Shrine of Remembrance Act to include Public Education as one of the Shrine’s three core functions, alongside Ceremonial

Charter

The objectives of the Shrine of Remembrance are defi ned in Section 4 of the Shrine of Remembrance Act 1978 (as amended), as are the duties of Trustees, which are:

• To be responsible for the care, management, maintenance, preservation of the Shrine of Remembrance; and

• To be responsible for the care, management, maintenance and improvement of the Reserve land.

Vision

By 2015 the Shrine of Remembrance will be further enhanced as the pre-eminent memorial in Victoria to the service and sacrifi ce of Australian men and women in war and peacekeeping through expanding its role in commemoration and community learning.

Activities and Stewardship and Preservation of the Shrine as a site of cultural signifi cance. The Trustees also support the government’s decision to enhance the breadth and depth of the skills of the Trustees by increasing the number of Trustees to 10 and widening the skill categories from which Trustees can be drawn.

These actions continue the strong bipartisan Government support for the Shrine which has been given, particularly since the Amendment to the Act in 1999.

In September 2010, John Taylor retired as Chairman of Trustees after 10 years of valuable service and I have been honoured to be the Acting Chairman at the request of Trustees. During the 10 years of John Taylor’s service there were many important changes such as the opening of the Visitor Centre in 2003, the Education Centre in 2005 and the appointment of Trustees for fi xed terms of service. I thank my fellow Trustees for their support and it has been a privilege to lead the Shrine Trustees since September 2010 during a period of continuing key challenges which has included major improvements to the Shrine Reserve, further growth of our public education programs and the launch of the inaugural Remembrance magazine.

The Shrine of Remembrance is the place to remember and commemorate Australia’s servicemen, servicewomen and peacekeepers and this is only possible with the ongoing support of the State Government of Victoria, the City of Melbourne and the generous fi nancial support by all of our donors, sponsors, philanthropic trusts and Friends of the Shrine.

JoAnne Stephenson retired as a Trustee this year after nine years of outstanding contribution, particularly as the Chairperson of the Finance and Audit Committee during a period which has required important attention to fi nancial budgeting, reporting and risk management.

The Trustees wish to express their appreciation to the Chief Executive Denis Baguley, Shrine staff, Life Governors, Governors, Shrine Guards and Volunteers for their willing and dedicated service to Victoria.

Colonel John Wertheimer AM RFDActing Chairman

Mission

To provide an environment for all to commemorate and learn about the service and sacrifi ce of Australian men and women in war and peacekeeping.

Values

In all our dealings with the service community, students, tourists and other visitors, staff and volunteers are committed to the values of integrity, trust, honour, achievement, fairness and recognition.


Organisational Structure & Responsibilities

The Shrine Act

The Shrine of Remembrance Act 1978 establishes the Shrine of Remembrance Trustees with the responsibility for the care, management, maintenance and preservation of the Shrine and its Reserve on behalf of the people of Victoria.

The Minister for Veterans' Affairs is responsible for the Shrine of Remembrance Act.

The Act was amended in August 2006 to include the following in the powers and duties of Trustees:

Trustees may develop, promote, facilitate and organise educational activities and exhibitions within the Shrine of Remembrance or elsewhere on the reserved land in relation to the service of Australians in confl icts and in peacekeeping operations.

Eight Trustees are appointed by the Governor in Council on the recommendation of the Minister. The Trustees act as a body corporate whose powers and duties are outlined in Section 4 of the Act, which states:

(1) The Trustees:

(a) shall be responsible for the care, management, maintenance and preservation of the Shrine of Remembrance, and for the care, management, maintenance and improvement of the reserved land;

(b) may to the exclusion of all other bodies or persons-

(i) provide and sell; and

(ii) authorise the manufacture, printing, publishing, display and sale of replicas, photographs, booklets, pamphlets and other like matter relating to the said monument;

The Shrine Community

The Shrine of Remembrance community, guided by 8 Trustees, is comprised of Life Governors, Governors, Staff, Volunteers and Shrine Guards.

Trustees

Mr John Taylor

John was appointed Chairman of Trustees in April 2000. John was also the Chairman of the Planning & Development Committee and the Remuneration Committee until his retirement in September 2010.

Colonel John Wertheimer AM RFD

John was appointed a Trustee in April 2000. In September 2010 John became the Acting Chairman of Trustees and Chairman of the Remuneration Committee.

Major General David McLachlan AO

David was appointed a Trustee in April 2003. David is President of the Returned and Services League (Victoria), a member of the Remuneration Committee and Chairman of the Finance & Audit Committee.

Wing Commander David Grierson

David became the Legacy representative in April 2006. David is Chairman of the Ceremonial Committee.

Cr Robert Doyle (Lord Mayor, City of Melbourne)

Robert became a Trustee in November 2008, coinciding with his election as Lord Mayor of the City of Melbourne.

(c) may receive moneys by way of-

(i) collections or donations;

(ii) proceeds of sales by the Trustees of such replicas, photographs, booklets, pamphlets and other like matter; or

(iii) fees for authorities granted by the Trustees for the manufacture, printing, publishing, display and sale of such replicas, photographs, booklets, pamphlets and other like matter for the funds of the trustees;

(ca) in relation to the Undercroft land-

(i) may charge fees for entry into the Undercroft land, including concessional fees; and

(ii) may determine the mechanisms for charging concessional fees; and

(iii) may exempt in a specifi ed case or class of case any person or class of persons from payment of fees; and

(d) have and shall be deemed always to have had power to pay out of the funds of the Trustees such gratuities or retiring allowances as they think fi t to such persons as they think fi t being persons who are or have been employed by them for the purposes of carrying into effect the provisions of this Act.

(2) Any funds of the Trustees provided pursuant to the provisions of this Act or any Act hereafter enacted shall be available only for the purposes of carrying into effect the provisions of this Act.

(3) Any moneys received by the Trustees whether from the Treasurer of Victoria or the City of Melbourne or as the result of public subscriptions or otherwise shall be paid into the funds of the Trustees and shall be applied for the purpose of carrying into effect the provisions of this Act.

Professor Dimity Reed AM

Dimity was appointed a Trustee in April 2000. Dimity is Chairperson of the Planning & Development Committee.

Ms JoAnne Stephenson

JoAnne became a Trustee in April 2002. JoAnne was the Chairperson of the Finance & Audit Committee and a member of the Remuneration Committee until her retirement on 30 April 2011.

Dr Helen Drennen

Helen was appointed a Trustee in June 2010.

Life Governors

Life Governors are appointed under Section 4 of the Shrine of Remembrance Act. They are former Trustees (other than ex-offi cio Trustees) whose function is to assist the current Trustees with the conduct of ceremonies at the Shrine and other duties as required by the Trustees.

The present Life Governors are:

• Wing Commander Peter Isaacson AM DFC AFC DFM

• Colonel George Mackenzie OBE RFD

• Lieutenant Colonel David Ford CVO AM GM

• Lieutenant Colonel Adrian Lombardo

• Mr Peter Whitelaw

In December 2010, the Trustees acknowledged Life Governor Peter Whitelaw’s 15 year service to the Shrine of Remembrance.



OH & S Committee

The Shrine operates a dedicated Occupational Health & Safety Committee which monitors and responds to our Incident Reporting System.

The Committee, which meets quarterly, includes representatives from Staff, Victoria Police (Shrine Guards) and Volunteers. Issues covered include WorkSafe matters, all reportable incidents and general public health and safety.

The Volunteer

Reference Group

The Volunteer Reference Group consists of volunteers and staff who advise the Chief Executive on volunteer guiding issues. The Reference Group meets on a regular basis and considers a range of topics and initiatives.

Governors

The role of the Shrine Governors is to assist Trustees and Life Governors in relation to ceremonial duties. In 2010, all Governors were reappointed for a further two year period.

The present Governors are:

• Lieutenant Colonel Don J Reid RAA

• Colonel John Coulson OAM RFD ED

• Major Maggie More RFD

• Wing Commander Annette Holian

• Commander Terry Makings AM RAN

• Squadron Leader Ron A K Ledingham

• Lieutenant Commander Chris Le Marshall

Chief Executive and

Management Team

The Shrine of Remembrance Chief Executive and Management Team’s role is to set, monitor and review the day to day operations of the Shrine.

Denis Baguley

Denis was appointed Chief Executive in July 2003 following his position as Project Manager of the Shrine Visitor Centre development. He provides policy and strategic advice to the Trustees and overall leadership to the Management Team.

Jean McAuslan

Jean was appointed Manager, Exhibitions and Collections in 2003, with responsibility for gallery development, exhibition programs and collections.

Daniel Mulqueen

Daniel was appointed Manager Administration & Finance in December 2006 and has responsibility for administration, fi nance, operations and ceremonial functions.

Steven Cooke

Steven was appointed Manager Education and Community Programs in January 2008 and had overall responsibility for the Shrine’s education and community programs, marketing and public relations until his resignation in January 2011.

Jamie Parsons

Jamie joined the Shrine in March 2011 as the Manager Education and Community Programs. He has responsibility for the Shrine’s education and community programs as well as marketing and public relations.

Volunteers

The Shrine of Remembrance has over 90 valued volunteers who assist with guided tours, administration, retail, cataloguing, research, marketing and education program delivery.

During 2010/11, these volunteers provided over 7,500 hours across 14 shifts, 7 days per week.

The Shrine Guard

The Victoria Police Shrine Guard is provided by the Department of Justice. They provide a 24 hour security presence at the Shrine and assist with ceremonial events.

Shrine of Remembrance Staff

(as at 30 June 2011)

Carolyn Argent, Education Communicator

Katharine Armstrong, Research Assistant

Anthony Balla, Education Communicator

Melissa Baulch, Visitor Services Offi cer

Hailey Berkhout, Visitor Services Administration Offi cer

Jenna Blyth, Assistant Curator

Andrew Brady, Custodian

David Bucknell, Custodian

Dale Capron, Custodian & Facilities Offi cer

Bruce Dunlop, Coordinator Visitor Services

Lambis Englezos, Education Communicator

Lana Epshteyn, Marketing Offi cer

Glenn Foster, Custodian

Felicity Harrison, Visitor Services Administration Offi cer

Bernie Higgs, Education Assistant

David Howell, Development Offi cer

Anthony Langley, Human Resource Adviser

Soo Mei Leong, Finance Offi cer

Don McBride, Custodian

Alice McConnell, Public Programs and Events Offi cer

Kelly McConnell, Visitor Services Administration Offi cer

Hannah McRae, Education Communicator

Jessica Nunn, Visitor Services Administration Offi cer

Keith Oakden-Rayner, Research Assistant

Daryl Pinner, Custodian

Katherine Rekaris, Landscape Architect

Adele Schocker, Public Programs and Events Offi cer

Neil Sharkey, Exhibitions Curator

Kat Sherlock, Education Communicator

Jodie Smith, Education Outreach Offi cer

Tom Stammers, Custodian

Adrian Threlfall, Education Communicator

Tim Whitford, Education Communicator

Chris Widenbar, Business Support Offi cer

Sally Winter, Education Administration Offi cer

Paola Wisniak, Executive Assistant to the CE


Exhibitions Curator

Exhibitions Assistant Curator

Chief ExecutiveShrine Guard

Governors

Life Governors

Trustees

Manager Exhibitions & Collections

Exhibitions ResearchAssistant

Coral Akers

Brian Anderson

Mary Armstrong

Ann Baker

Donald Bergman

John Bool

Ralph Boyne

Daryl Bristowe

Maureen Bugden

Valerie Carr

Lisa Casey

Suzette Chapple

Bill Cherry

Bill Cornford

Jan Coyle

Ken Crook

Keith Darling

Alastair Davison

Cecily Davison

Ruth Dean

Pauline D’Astoli

Michael Dee

Ian Douglas

Noel Dovey

Noel Ellis

Mac Ford

Keith Frampton

John Fuller

Ian Gault

George Galanopoulos

Neil Graham

Allan Grant

Josephine Green

Diane Gregory

John Griffi ths OAM

Ron Hall

Geraldine Hare

David Holloway

Murray Hourigan

Pam Jacobs

Arthur Johnson

Don Kinsey

Steven Kyritsis

Paul Lacey

Bruce Larkin

Rayden Lee

Judy Llewellyn

Graham Lockwood

Gloria Low

Trevor Lowe

Alasdair Macdonald

John Magill

Gilbert Mallcott

Anne McIlroy

Graeme Missen

James Moreton

John Moxey

John O’Reilly

Jim Penna

Jeffery Pickerd

Victor Pilch

Cath Rosevear

Claude Sanicki

Bob Seers

Elizabeth Sevior

Elvie Sinclair

Graeme Sloman

Basil Smith

Alan Stebbing

Jenifer St John

Stephen Stockdale

Glen Sunderland

Peter Taylor

Rosie Tsiros

Peter Webb

Stephen Weston

Philip Whitehouse

John Williamson

Geoffrey Wilson

John Wilson

Rod Wilson

Malcolm Wiltshire

Caroline Winter

Brian Worcester

Lynda Wright

Shrine Volunteer Guides

Shrine Trustees acknowledge with thanks the dedication of its valued Volunteers:

It was with much sadness that during the year Roger Baussman, a most valuable and respected Volunteer, passed away.

Shrine Trustees would especially like to recognise the following recipients of the Volunteer Long Service Awards:

Maureen Bugden, Basil Smith and Jenifer St John for 20 years service to the Shrine; Jim Penna for 15 years service and Graham Lockwood for 10 years service.

We would also like to acknowledge the following Volunteers for their fi ve years service to the Shrine: Ian Gault, Jo Green, Jeff Pickerd, Philip Whitehouse, Caroline Winter and Brian Worcester.


Executive Assistant

Facilities Officer

HR Adviser

Finance Officer

Visitor Services Officer

Visitor Services Admin Officers

Custodians

Image Management

Officer

Business Support Officer

Landscape Architect

CoordinatorVisitor

Services

Manager Education & Community Programs

Public Programs &

Events Officer

Education Administration

Officer

Education Communicators

Education Outreach

Officer

Marketing OfficerDevelopment

Officer

Manager Admin. & Finance


Organisational Structure & Responsibilities Chief Executive's Report rt

Corporate Governance

Trustees Meetings

During 2010/2011, the Shrine of Remembrance Trustees held 6 ordinary meetings.

Committee Structure

Four committees form the corporate governance framework that provide informed recommendations to the Board of Trustees.

The Committees are supported by the Chief Executive and the Management Team and Trustees may, from time to time, co-opt external parties with particular expertise to participate on these committees.

The roles and composition of the respective Committees are:

Finance and Audit Committee:

• Provides a forum to consider and recommend to the Board of Trustees matters including:

- Strategic and Business Plans; the activities of the internal and external auditor and the Shrine’s risk management policies and processes. It also assists the Trustees in discharging their responsibilities in relation to fi nancial management

- Provides advice on such other issues as fund raising and retail strategy

- Oversees accountability for the corporate governance framework and compliance with the provisions of the Shrine of Remembrance Act

• The Committee met on 8 occasions in 2010/2011

• Committee Members as at 30 June 2011:

- David McLachlan (Committee Chairman) (Trustee)

- Adrian Lombardo (Life Governor)

- Michael Lawriwsky (Independent Committee member)

The Finance and Audit Committee comprises independent members who meet the criteria for independence within the Financial Management Compliance Framework guidelines.

Planning and Development Committee:


- Master Planning, including Gallery Development and Reserve Improvement Plan

2010/2011 has been a very vibrant and positive year for the organisation with signifi cant improvements to the Shrine Reserve, continued growth in visitation, expansion of our commemorative program and further development of our public education programs.

As a result of the State Services Authority Review in 2009 and the Baillieu Government’s subsequent decision to proceed with the key amendments to Shrine of Remembrance Act, public education will be added as a core function of the Shrine. Whilst we have long recognised public education as a vital role for the Shrine due to the declining veteran population and to the community’s increasing interest in Australia’s military history, the Government’s decision validates the public education initiatives we have taken over recent years.

The organisation’s fi nancial performance has again been positive, underpinning the Shrine’s important work. This outcome would not have been possible without the support of the State Government, the City of Melbourne, sponsors, donors and the Victorian community. Our ongoing fundraising effort is vital in supporting the delivery of our diverse public education programs.

During the year, we launched the Friends of the Shrine Program aimed at providing a means for the wider community and descendants of veterans to establish a direct connection with their Shrine of Remembrance. The Friends Program has been well received and combined with the launch of the inaugural Remembrance magazine will enable more people in the community to better understand the service and sacrifi ce of Victorian and Australian servicemen and servicewomen.

In November 2010, we were proud to complete the relocation of the Ex-Servicewomen’s Memorial Cairn from the Kings Domain. The Cairn has now been sited into a memorial garden in the Shrine Reserve to commemorate the 70,000 servicewomen who have served Australia.

This memorial garden and the other recent improvements to the Reserve including the tree replacement program and the current landscape restoration of the Remembrance Garden have only been possible because of the recently completed Shrine water harvesting project and the ongoing support from Citywide and the City of Melbourne’s Parks team.

With school visitation now in excess of 45,000 students and with the existing Education Centre approaching capacity, it has been necessary to introduce curriculum based outreach programs to regional and metropolitan schools to meet the increasing demand. In addition, we have also commenced a “Sharing Our Stories” Veterans Training Program in association with RSL Victoria utilising veterans to deliver curriculum based education sessions to school students in their communities.

- Collection policy

- Education strategy and programming

- Marketing strategy

- Conservation management



- Dimity Reed (Committee Chairperson) (Trustee)

- Peter Whitelaw (Life Governor)

- Kerry Osborne (Independent Committee member)

Ceremonial Committee:

• Provides a forum to consider and review the ceremonial activities of the Shrine including:

- ANZAC Day

- Remembrance Day

- Wreath Laying Ceremonies

- Ceremonial Policy



- David Grierson (Committee Chairman) (Trustee)

- David Ford (Life Governor)

- George Mackenzie (Life Governor)

- Maggie More (Governor)

Remuneration Committee:


- Develops, reviews and ensures the effectiveness, integrity and compliance of remuneration policies and practices of the organisation

- Provides recommendations to the Board of Trustees on executive remuneration and performance appraisal

- Responds to emerging issues with respect to changes in legislation or Government Policy



- John Wertheimer (Chairman) (Trustee)

- David McLachlan (Trustee)

The third annual Shrine of Remembrance Dinner was held at the Melbourne Town Hall, continuing our strategy to increase the commemorative focus on Remembrance Day. I congratulate Mac Gregory on being awarded the annual Shrine of Remembrance Medal for his long-standing role in the promotion, education and preservation of Australia’s naval heritage.

Whilst we have achieved much throughout the year, the next fi ve years will be equally as demanding and exciting. Our future planning includes:

• Continuous improvement of the Shrine’s Commemorative Program.

• Advancing the planning for the centenaries of ANZAC and the First World War.

• Continuing our representations to both the State and Federal Governments to secure funds for the development of the Galleries of Remembrance.

• Providing expanded opportunities for Victorian school children and the wider Victorian community to better understand the service and sacrifi ce of Australian servicemen and women through on-site, off-site and online education initiatives.

• Completing the upgrade of the Shrine of Remembrance website.

Our achievements in 2010/2011 would not have been possible without the dedication of the great team of people who work and volunteer at the Shrine. The support of Trustees, Life Governors, Governors, the Victorian Government and the City of Melbourne must also be acknowledged.

Denis BaguleyChief Executive


2010/11 Review Of Operations

Highlights:

Annual Visitor Numbers

Visitation to the Shrine of Remembrance continues to grow, with a total of 570,878 people attending the Shrine in the 2010/11 fi nancial year.

Over 45,000 Victorian school students participated in one of our education programs, whether onsite at the Shrine or via our award winning Remembrance Box Outreach Program in regional Victoria or our Metropolitan Outreach Program for disadvantaged schools.

Local and international visitors, students and the ceremonial community visit the Shrine and experience the wide selection of public programs, exhibitions, education activities and events that the Shrine offers. Through our range of commemorative and learning activities, the Shrine of Remembrance’s public profi le continues to steadily increase. Building on the strength of our visitation numbers, the aim is to engage new audiences and to further generate awareness of the Shrine as a Military Memorial of National Signifi cance and a premier cultural institution.

Ceremonial Program

The Shrine's ceremonial program helps ensure commemoration remains a focus of activities at the Shrine. The 2010/11 fi nancial year saw more than 88,000 people including veterans, students and members of the public from Victoria, interstate and overseas attend over 140 ceremonial activities. Among these activities were ANZAC Day, Remembrance Day, Battle for Australia, Legacy Children's Day, Chelsea RSL 'Digger for a Day', Vietnam Veterans Day and anniversary services for the Boer War and Korean War.

ANZAC Day 2011

To mark the 96th anniversary of the Gallipoli landing, over 35,000 people attended the Dawn Service on Monday 25 April. Each year more and more Victorians are seeking to participate in ANZAC commemorative activities which honour Australian and New Zealand servicemen and women. The Shrine Visitor Centre was open from 7am allowing members of the public to view current exhibitions, the Crypt and an audio visual presentation in the Auditorium. The ANZAC Day March and Commemorative Service took place on the Shrine Forecourt.

Each year, younger generations are embracing the legacy of remembrance and taking on a more active part in commemoration. The ANZAC spirit lives on and with the

Thanks to generous funding from Portland House Foundation, the Outreach Program extended its operations to include metropolitan schools.

The very positive feedback received from teachers about the Shrine's staff and volunteers is a refl ection of the outstanding schools education program that we provide to the community. As we move towards the Centenary of ANZAC and the introduction of the Australian Curriculum, the demands on the Shrine Education program will continue to grow.

“As a very small school it is diffi cult to get educational visitors to our school. The presenter has an excellent rapport with students and their extensive knowledge was explained to students in an interesting manner and encouraged their discussion and input.” School Principal.

“It was good and it made us think about what happened in past and present wars.” Jarrod, Year 9.

“I wanted to let you know that my class had an amazing experience at the Shrine. Our guide was a gift. Her presentation style, knowledge and manner, was enthralling. Please pass on my gratitude to our Guide for the amount of time they gave to our group. The boys learnt an enormous amount and if the talking that occurred after the tour was any indication, this was the learning highlight of the week!” Teacher, Year 9, Ballarat.

Metlink provided support to disadvantaged schools to travel to and from the Shrine.

Outreach Programs

The Outreach Programs take Shrine education on the road to primary and secondary schools in regional and disadvantaged schools of Victoria. The programs use authentic and replica uniforms and artefacts as well as photographs to explore Australia’s Military History and concepts of remembrance and commemoration.

The Remembrance Box Outreach Program services regional and remote Victoria. Where possible, the program is run in conjunction with the local RSL whose members are able to

centenary of the Gallipoli landing in 2015, the Shrine Trustees are committed to ensuring the remembrance of our veteran community and their values continue to stay in the hearts and minds of the Victorian community.

Remembrance Day 2010

The annual Victorian State Remembrance Day Ceremony, attended by the Governor of Victoria, was held on Thursday 11 November 2010. Over 3,500 people attended the ceremony and many school groups participated in the laying of a wreath on the Northern steps of the Shrine.

In the lead up to Remembrance Day, the Shrine once again held its Remembrance Day Poster Competition for Victorian Primary Schools. Congratulations to Aleyna Aydin, grade 4 from Mt Hira College, whose winning artwork appeared on posters and banners throughout Victoria.

Battle of Fromelles Commemorative Service

On 19 July 2010 the Friends of the 15th Brigade and the Shrine held the annual Fromelles Commemorative Service at the Cobbers Statue on the Shrine Reserve.

This service was particularly poignant as it included the reading of the names of 212 Australians known or believed to have been buried by the Germans in the Pheasant Wood mass grave following the Battle of Fromelles in 1916. The Service was attended by over 700 guests, many of whom are direct descendants of First World War veterans.

Ex-Servicewomen’s Memorial Garden

In November 2010, the Ex-Servicewomen’s Association Cairn was relocated from Kings Domain to the Shrine Reserve. The Cairn is surrounded by a new Memorial Garden, specifi cally designed to represent the 70,000 women who have served this country. The Ex-Servicewomen's Memorial Garden is appropriately positioned to have a strong physical and visual connection with Birdwood Avenue, the Avenue of Honour and the Shrine.

Education at the Shrine

The Shrine’s high quality Education Programs continue to grow at a signifi cant rate. As well as the increase in student numbers during 2010/2011, the Shrine’s education programs grew in diversity. Overall student numbers including onsite and offsite strengthened to 45,013 - an increase of 20.1% in the past 2 years. Incorporated in these numbers are 3,082 students who participated in the Shrine’s Outreach Programs.

provide fi rst-hand experiences. This also assists in establishing and improving community relations between schools and the RSL. In 2010, the program was funded by the Victorian Veterans Council and in 2011 was supported through funds raised as part of the 2010 Remembrance Day Dinner. In 2010/11 the program visited Mildura, Beechworth, Swan Hill, Sale, Camperdown, Robinvale, Hawkesdale, Lakes Entrance, Cobram, Wodonga, Yarram, Creswick, Birchip and Mirboo.

The Metropolitan Outreach Program was launched at Lynall Hall Community School in Richmond in March 2011. Since its launch the program has been held at Wandong, Kinglake, Yea, Craigieburn, Tooborac, Epping and Koo Wee Rup to a total of 830 students. Further presentations are booked at Tallarook PS, Broadford, Middle Kinglake PS, St Monica’s College Epping, Seymour P-12 and Wallan Secondary College. Feedback from the program has been extremely positive.

The “Sharing Our Stories” Veteran’s Training Program is designed to give RSL and other ex-service organisations the tools and confi dence to deliver curriculum based education sessions to school students in their communities. To date a partnership with Bendigo RSL has been developed and is running with great success - over 700 students from the Bendigo district have been involved. The program has enabled the RSL members to share their personal stories in a way that is effective and relevant to students and teachers while building strong connections with the community. Further partnerships are in the process of being established with the Morwell and Warrnambool RSL sub branches.

Spirit of ANZAC Study Tour for Teachers

In 2010 the Shrine of Remembrance once again led the Spirit of ANZAC Study Tour for teachers. The Study Tour aims to inspire, promote and disseminate a best practice approach to teaching and learning about Australian war time history. The program provides the opportunity for teachers to get together, share experiences and expertise and learn from each other. This experience and knowledge can then be used to develop curriculum resources for the education community in Victoria.

Seven teachers were selected for the 2010 tour. The tour included a number of important battlefi elds in Gallipoli, France and Belgium and also visited signifi cant locations in Paris and London.

The next tour will be in September 2011 and is part of an ongoing Shrine focus on teacher professional development in the lead up to the implementation of the Australian Curriculum and major centenaries of 2014 to 2018.



Teacher comments included:

“It has challenged my method of teaching, my understanding of perspective and the nature of historiography. On its most basic level it has provided me with invaluable resources and experiences that will be used in my classroom to make a better teacher.”

“This has been an invaluable learning experience and I have gained a lot. Professionally this opportunity has given me more confi dence and passion in teaching Australia’s history.”

“This trip was one of the highlights of my life. I felt very fortunate and humbled to take part in such a diverse, exciting and meaningful journey. It has broadened my experiences of the topics that I teach and given my teaching an extra dimension of insight and refl ection.”

Adopt an Ex-Service Organisation Program

The Adopt an Ex-Service Organisation Program at the Shrine of Remembrance fulfi ls two of the main aims of the Shrine: commemorating Australian service in confl ict and peacekeeping and educating future generations of Australians about this service.

The program aims to facilitate permanent relationships between schools and ex-service groups. Many Second World War organisations are fi nding it increasingly diffi cult to conduct commemorative activities as their members age. Establishing a partnership with a school can be a very rewarding way to ensure that an organisation’s history lives on and provides an opportunity for students and young people to engage meaningfully in history, commemoration and remembrance.

Recently the Shrine has helped to establish partnerships between St Bernard’s College Essendon and the 2/3rd Machine Gun Battalion; Bellarine Secondary College and the HMAS Perth Association; Methodist Ladies' College and the WRAAC and AWAS Associations.

The Shrine of Remembrance hopes to expand this program each year to involve as many organisations and Victorian Schools as possible.

replaced memorial trees whose plaques have been reallocated and many service associations have since held rededication ceremonies.

An ideal growing season this year has seen the newly planted trees, in particular the lemon-scented gums on Birdwood Avenue, increase signifi cantly in height and they already provide an impressive avenue.

The condition of the Reserve trees is continually monitored and in April - June of 2011 preparation was made for the removal of trees which have declined irreversibly since the 2010 removals.

There are over 420 species of trees on the Shrine of Remembrance’s 13 hectare reserve, which is maintained by the City of Melbourne. The Plan, which has been approved by Heritage Victoria, will result in a total population of 675 trees by 2015 – a net gain of 205 trees.

Launch of the Friends of the Shrine Program

& Remembrance Magazine

On the 11 April 2011, Ron Barassi AM launched the new Friends of the Shrine Program. Ron is the Patron of the Friends of the Shrine Program and has a deep personal understanding of the meaning of Remembrance, having lost his father at Tobruk during the Second World War.

The Friends of the Shrine Program is a new initiative designed to further engage with the community - Friends will play an active part in the preservation of the Shrine, the Reserve and the values that the Shrine represent. The Program will play a key role in supporting and growing our varied activities and events, in particular our public education programs – all of which will be showcased in the new offi cial Shrine magazine, Remembrance.

History of the Shrine Exhibition

This touring exhibition commenced its journey across regional Victoria in Hamilton in late 2006 and has since travelled to more than 30 major centres. On average, over 1,000 people have visited the exhibition at each venue. Featuring information panels, archival photographs and audio-visual material, the exhibition aims to connect all Victorians to the Shrine of Remembrance, especially those who may not otherwise be able to visit. It has been made possible through the generous support of the John T Reid Charitable Trust.

The Shrine Young Ambassadors - our future

The Shrine of Remembrance Young Ambassador Program provides Victorian Secondary School students with the opportunity to become spokespeople for the Shrine in their local communities. Students who visit the Shrine and display an outstanding enthusiasm are nominated to take part in the program. Each year, eight new ambassadors are selected from various schools and regions to participate in and help facilitate a range of commemorative activities including ANZAC Day, Remembrance Day and Monthly Wreath Laying Ceremonies. Young Ambassadors also have the opportunity to take part in a History Discovery Day in Canberra. This program continues to forge strong links between the Shrine of Remembrance and Victorian school students.

Remembrance Day Dinner

The Shrine held its third annual Remembrance Day Dinner on the 10 November 2010. 400 people celebrated the 95th anniversary of the landing at Gallipoli and raised funds for the Shrine’s education outreach programs. Mr Lambis Englezos AM gave the key note address on his profound contribution which led to the discovery of the mass graves in Fromelles and culminated in the development of a new cemetery which has given the missing in action the dignity and honour in death which had been denied to them for 94 years. Mr Mac Gregory was awarded the annual Shrine of Remembrance Medal.

Operation Rosemary

The Shrine supported Operation Rosemary again for ANZAC Day 2011. This initiative, under the coordination of volunteer Darren Scott, sees over 400,000 rosemary sprigs handed out at Dawn Services across the State. This is a testament to the hard work of Darren and a dedicated team of volunteers in Horsham and at selected locations throughout Victoria. Operation Rosemary went ‘global’ in 2011 with requests for sprigs coming from Australian Embassies in Thailand and Indonesia.

Landscape Improvement Plan – Year 2

The Landscape Improvement Plan is aimed at replacing failing and ageing trees with species better suited to the Reserve’s particular conditions and better able to cope with the climatic conditions. Some of the new trees that were planted in Year 1

Image Management System

During this fi nancial year, the Shrine implemented an image management system for internal use. Data entry of digital images from the Shrine’s photographic collection into the new system has resulted in 7,000 images housed on the system and available for staff to search and retrieve for the delivery of Shrine programs.

Exhibitions and Public Programs

Exhibitions and public programs continue to be pivotal in driving visitation, encouraging new visitor groups and raising awareness about the sacrifi ces of Australians in war and peacekeeping. The calendar of exhibitions and public programs included:

Exhibitions:

• Nurses in the defence of Australia 1939 – 45

• Anniversary of the Battle of Fromelles

• General Sir John Monash

• Working Together: South Vietnamese and Australian soldiers in the Vietnam War 1962 – 73

• This company of brave men: The Gallipoli VCs

• A camera on the Somme

• Avenues of Honour

• Rising Spirit of ANZAC

• A fi ne career for a woman: Australian women in the Army 1941 – 84

• Care, compassion, community: more than just a hospital

• Our art, your heritage: 90th anniversary of the Royal Australian Air Force



Highlights from the 2010/11 exhibition

program included:

Working Together:

Vietnamese and Australian soldiers in the Vietnam

War 1962-73

This exhibition was developed with veterans of the Vietnam War, of both Australian and South Vietnamese origin. A new perspective on this war emerged through the stories of Vietnamese Australians and their Australian Army counterparts who served side by side during the war. The exhibition met the requirement of the Shrine’s Learning and Access Policy to present at least one exhibition annually that addresses the diverse origins of Australians.

Care, Compassion, Community:

more than just a hospital

To celebrate the 70th anniversary of Heidelberg Repatriation Hospital the Shrine developed this exhibition featuring memorabilia and images from the hospital archive as well as historical images from the Australian War Memorial. Through it's proud history, the Heidelberg Repatriation Hospital has emerged as a vital community centre that has nurtured and rehabilitated shattered people, served as a centre for innovation in the treatment of war injuries and mental illness and as a teaching hospital for the nursing and medical professions. Heidelberg Hospital has also evolved as an important commemorative site.

A Fine Career For a Woman:

Australian women in the Army 1941-84

This exhibition examined the proud history of two of Australia’s most signifi cant military services: the Australian Women’s Army Service (AWAS) which was formed in 1942 at the height of the Second World War (1939-45) and disbanded in 1947, and its successor, the Women’s Royal Australian Army Corps (WRAAC), which was created in the 1950s in response to the new challenges arising in the Cold War era. Created with the assistance of women who served in these organisations, the Shrine hosted this exhibition in 2011 to mark the 70th anniversary of the formation of AWAS and the 60th anniversary of WRAAC.

• The Changi BrownlowPresented by Roland Perry

• More than Bombs and BandagesPresented by Kirsty Harris

• Beneath Hill 60Presented by Will Davies

• The Foundation of ANZAC Day 1916 – 1939 (public forum)Presented by Professor Bruce Scates, Martin Crotty, Graham Seal and Frank Bongiorno

• Our Home Front PioneersPresented by Jacqueline Dinan

Other Programs:

• Storytelling for Children

• Community Outreach Lectures

• School Holiday Programs

Key Supporters

The Shrine Foundation was established in 2004 to provide ongoing funding for the Shrine’s educational and commemorative activities. Trustees are ever-grateful for the fi nancial and in-kind support of Shrine Foundation members and key donors.

2010/11 members and contributors include:

• The State Government of Victoria, including the Department of Planning and Community Development, Department of Treasury and Finance, Department of Sustainability and Environment, Department of Premier and Cabinet, Department of Justice and the Department of Education and Training.

• The City of Melbourne

• Commonwealth Department of Veterans’ Affairs

• Aboriginal Affairs Victoria

• Victorian Veterans Council

• The John T Reid Charitable Trust

• Portland House Foundation

• Sunshine Foundation

• Metlink

• Citywide

• Freemason’s Public Charitable Foundation

This year the Shrine also hosted two outstanding

travelling exhibitions:

This Company of Brave Men:

the Gallipoli Victoria Crosses

An Australian War Memorial travelling exhibition

This company of brave men was presented at the Shrine between 13 August and 26 September 2010 and was responsible for a sharp increase in visitors in this fi ve week period. While the Australian War Memorial’s Hall of Valour was being refurbished this extraordinary selection of Victoria Crosses, awarded to Australians at Gallipoli, (April – December 2015) toured Australia. The exhibition offered a unique opportunity for visitors to understand an important time in Australian history and the legendary acts of courage these brave men performed for their country. Related public lectures were provided by Peter Burness, the Memorial’s Gallipoli scholar.

A Camera on the Somme:

A travelling exhibition from Bendigo Art Gallery

Selected from a collection of over 800 images, this exhibition featured some 80 images printed from original glass negatives found in Bendigo in 2007. The photographs were taken with a Kodak Brownie camera during the First World War (1914-18) by two brothers, Jack and Bert Grinton, who fought with the 1st AIF. The negatives had been stored in a biscuit tin in a shed on the family farm for over 90 years. The images were supported by family diaries, medals, postcards and maps. This exhibition attracted excellent media coverage and high visitation for the period of four months, 15 October 2010 – February 2011, when it was displayed.

Public Lectures:

Highlights from the 2010/11 public lecture program included:

• The Lost Men of FromellesPresented by Lambis Englezos AM and Tim Whitford

• The Gallipoli VCsPresented by Peter Burness

• Albert Jacka VCPresented by Dr Michael Lawriwsky

• Sculpting the Light HorsePresented by Peter Corlett OAM

• HMAS Cerberus

• Monash University

• Tourism Victoria

• ISPT Pty Ltd

• 3AW

• Channel 7

• The Herald Sun

• Telstra

• DLA Piper Australia

• Media Monitors

• Image On Line

• Microsoft

Trustees acknowledge the lasting support of the Victorian Returned and Services League and Legacy.

The 2010 Remembrance Day Dinner would not

have been possible without the support from

the following:

Principal Partner:

• Bendigo Bank

Major Partners:

• The City of Melbourne

• Talbot Shaw

Sponsors:

• RSL (Vic)

• Consumer Affairs Victoria

• Citywide

• RACV

• Metlink

• Bus Association Victoria

• Mal Padgett Design

• 7 News

Product Partners:

• Fosters

• Hanging Rock Winery

• PointB Advertising & Design


Outlook for 2011/12 Financial Report

2011/12 will be a continuation of the focus on the strategic development of the Shrine’s commemorative and public education programs, particularly in the growth of our public education outreach initiatives.

The implementation of the recommendations of the State Services Authority Review will continue to be undertaken in 2011/12 in conjunction with the Department of Planning and Community Development. Particular emphasis will be placed upon:

• Development of a long term funding framework with government

• Increasing our fi nancial viability through self funding initiatives

• Continuing to enhance our commemorative and public education programs within existing resources

• Completing the formulation of recommendations to Government to ensure the Shrine is protected from inappropriate commercial development in the precinct

A range of other initiatives will also be pursued during 2011/12 which will add to the Shrine’s commemorative and education experience for all visitors:

• Launch the centenary of RAN exhibition and associated public programs

• Commence touring of the Indigenous Australians at War travelling exhibition and accompanying school education program in regional Victoria

• Introduce Shrine public lectures to regional Victoria

• Complete next stage plantings in accordance with the 5 year Landscape Improvement Plan

• Complete landscape improvements to the existing Remembrance Garden Memorial

• Complete the upgrade of the Shrine website

• Finalise the research and seek funding for the installation of the Scroll of Honour for Victorian Second World War veterans

• Complete the changes to the Medals of Valour permanent exhibition

The Galleries of Remembrance proposal will remain an ongoing priority for the Trustees to ensure that the Shrine remains relevant for future generations of Victorians. We will continue to make representations to both the State and Federal Governments to seek funding to complete the Galleries Project by the centenary of the commencement of the First World War in 2014 and the Gallipoli landing in 2015.

Australia will mark a series of important anniversary dates between 2014 and 2018 and key amongst them will be the centenary of ANZAC. The Shrine will commence pre-planning for this period during 2011/2012.


Financial Report


Shrine of Remembrance Trustees

REVENUE FROM OPERATIONS NOTES 2011 ($) 2010 ($)

Grants 2 2,603,223 2,573,492

Donations 3 329,954 305,523

Sales of Merchandise 164,277 175,294

Interest Revenue 4 76,825 57,410

Other Income 5 56,410 2,101

Total Revenue from Operations 3,230,689 3,113,820

EXPENSES FROM OPERATIONS NOTES 2011 ($) 2010 ($)

Depreciation 6&12 948,937 929,204

Employee Benefi ts 7 1,577,037 1,357,425

Repairs and Maintenance 262,878 223,107

Other Expenses 8 1,032,976 1,056,331

Total Expenditure from Operations 3,821,828 3,566,067

Net Result (591,139) (452,247)

Other Comprehensive Income - -

Comprehensive Result (591,139) (452,247)

ASSETS NOTES 2011 ($) 2010 ($)

Financial Assets

Cash and Cash Equivalents 10 1,445,035 1,256,999

Receivables 11 81,249 29,846

Total Financial Assets 1,526,284 1,286,845

Non-Financial Assets

Property, Plant and Equipment 12 113,681,921 114,549,274

Inventories 39,863 48,635

Total Non-Financial Assets 113,721,784 114,597,909

TOTAL ASSETS 115,248,068 115,884,754

LIABILITIES NOTES 2011 ($) 2010 ($)

Payables 13 173,372 251,792

Employee Benefi ts 14 158,078 125,205

Total Liabilities 331,450 376,997

TOTAL LIABILITIES 331,450 376,997

NET ASSETS 114,916,618 115,507,757

EQUITY NOTES 2011 ($) 2010 ($)

Contributed Capital 54,414,759 54,414,759

Accumulated Surplus 2,101,505 2,692,645

Reserves 15 58,400,354 58,400,354

TOTAL EQUITY 114,916,618 115,507,757

The above Comprehensive Operating Statement should be read in conjunction with the accompanying notes to and forming part of the fi nancial report.

The above Balance Sheet should be read in conjunction with the accompanying notes to and forming part of the fi nancial report.

Comprehensive operating statement for the year ended

30 June 2011

Balance sheet as at 30 June 2011



Statement of changes in equity for the year ended 30 June 2011

The above Statement of Changes in Equity should be read in conjunction with the accompanying notes to and forming part of the fi nancial report.

TOTAL EQUITY ACCUMULATED

SURPLUS

ASSET REVALUATION

RESERVE

CONTRIBUTED CAPITAL

Note 2011 2010 2011 2010 2011 2010 2011 2010

Balance at beginning of the fi nancial year

115,507,757 115,926,692 2,692,644 3,144,891 58,400,354 58,400,354 54,414,759 54,381,447

Net Result from Operations

(591,139) (452,247) (591,139) (452,247) - - - -

AssetRevaluation 15

- - - - - - - -

Contributed Capital

- 33,312 - - - - - 33,312

Balance at end of the fi nancial year

114,916,618 115,507,757 2,101,505 2,692,644 58,400,354 58,400,354 54,414,759 54,414,759

Cash flow statement for the year ended 30 June 2011

CASH FLOWS FROM OPERATING ACTIVITIES NOTES 2011 ($) 2010 ($)

Grants Received (inclusive of GST) 2,818,854 2,830,841

Donations Received 329,954 305,523

Interest Received 70,113 57,410

Other (Including Sales) (inclusive of GST) 242,756 195,134

Payments to Suppliers (inclusive of GST) (1,647,893) (1,380,358)

Payments to Employees (1,544,164) (1,384,102)

Net Cash fl ows from/(used) in Operating Activities 16 269,620 624,448

Cash Flows from Investing Activities

Proceeds from Sale of Assets 5 - 123

Payments for Property, Plant and Equipment (81,584) (833,997)

Net Cash Flows from/(used) in Investing Activities (81,584) (833,874)

Cash Flows from Financing Activities

Contributed Capital - 33,312

Net Cash fl ows from/(used) in Financing Activities 0 33,312

Net Increase/(Decrease) in Cash Held 188,036 (176,114)

Cash and cash equivalents at beginning of the fi nancial year 1,256,999 1,433,113

Cash and cash equivalents at end of the fi nancial year 17 1,445,035 1,256,999

Notes to the financial

report for the year ended

30 June 2011

NOTE 1. SUMMARY OF SIGNIFICANT

ACCOUNTING POLICIES

Statement of Compliance

The fi nancial report is a general purpose fi nancial report which has been prepared on an accrual basis in accordance with the Financial Management Act 1994 and applicable Australian Accounting Standards (AASs) and Australian Accounting Interpretation. AASs include Australian equivalents to International Financial Reporting Standards.

The entity is a not-for profi t entity and therefore applies the additional Aus paragraphs applicable to “not-for-profi t” entities under the AAS’s.

The fi nancial report was authorised for issue by the Acting Chairman of the Trustees Mr. John Wertheimer 26 August 2011.

(a) Basis of Preparation

The accrual basis has been applied in the preparation of these fi nancial statements whereby assets, liabilities, equity, income and expenses are recognised in the reporting period to which they relate, regardless of when cash is received or paid.

The fi nancial report has been prepared in accordance with the historical cost convention, except for the revaluation of certain non-fi nancial assets and fi nancial instruments as noted. Cost is based on the fair values of the consideration given in exchange for assets.

In the application of AAS’s, management is required to make judgments, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstance, the results of which form the basis of making the judgments. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision, and future periods if the revision affects both current and future periods.

Judgments made by management in the application of AAS’s that have signifi cant effects on the fi nancial statements and estimates with a signifi cant risk of material adjustments in the next year are disclosed throughout the notes in the fi nancial statements.

Accounting policies are selected and applied in a manner which ensures that the resulting fi nancial information satisfi es the concepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events is reported.

The accounting policies set out below have been applied in preparing the fi nancial report for the year ended 30 June 2011, and the comparative information presented in these fi nancial statements for the year ended 30 June 2010.

(b) Revenue Recognition

Grants and donations are recognised as revenues when control over the assets comprising those revenues is obtained. Control is normally obtained upon receipt or upon prior confi rmation that the asset has been secured.

Revenue from sales is recognised when goods are handed to the customer.

Interest revenues on investments and cash holdings are recognised as they accrue.

(c) Property, Plant and Equipment

Land and Buildings are recognised initially at cost and subsequently measured at fair value less accumulated depreciation and impairment.

Plant and Equipment are recognised initially at cost and subsequently measured at fair value less accumulated depreciation and impairment. Depreciated historical cost is generally a reasonable proxy for depreciated replacement cost because of the short lives of the assets concerned.

Non-current physical assets measured at fair value are revalued in accordance with FRD 103D Non-current physical assets. This revaluation process normally occurs at least every fi ve years, based upon the asset’s Government Purpose Classifi cation, but may occur more frequently if fair value assessments indicate material changes in values. Independent valuers are used to conduct these scheduled revaluations and any interim revaluations are determined in accordance with the requirements of the FRD’s. Revaluation increments or decrements arise from differences between an asset’s carrying value and fair value.

The above Cash Flow Statement should be read in conjunction with the accompanying notes to and forming part of the fi nancial report.



Notes to the financial

report for the year ended

30 June 2011 (Cont'd)

Revaluation increments are credited directly to the asset revaluation reserve, except that, to the extent that an increment reverses a revaluation decrement in respect of that class of asset previously recognised as an expense, the increment is recognised as revenue.

Revaluation decrements are recognised immediately as expenses, except that, to the extent that a credit balance exists in the asset revaluation reserve in respect of the same class of assets, they are debited directly to the asset revaluation reserve.

Revaluation increments and decrements are offset against one another within a class of non-current assets, but not otherwise.

(i) LandAll land is valued at market value assuming the highest and best use permitted by the relevant land use planning provisions or existing public use whichever is the greater.

(ii) Heritage AssetsThe Shrine of Remembrance building and other war memorial artifacts are classifi ed as Heritage Assets. The Shrine and the other Heritage Assets are valued on the basis of depreciated replacement cost.

(iii) Plant, Equipment, Furniture and FittingsPlant, equipment, furniture and fi ttings are recorded at Fair Value.

(d) Depreciation

Depreciation measures the service potential of heritage assets, plant and equipment and furniture and fi ttings consumed during the year. Depreciation is recognised on a straight line basis over the useful lives of the assets to the entity. Depreciation rates are reviewed each fi nancial year.

The expected useful lives of the assets are as follows:

Shrine 173 years

Other Heritage Assets 100-150 years

Plant & Equipment 5-10 years

Furniture & Fittings 5-20 years

All rates are consistent with the prior year.

(f) Contributed Capital

Consistent with Australian Accounting Interpretation 1038 Contributions by Owners Made to Wholly-Owned Public Sector Entities and FRD 119 Contributions to Owners, appropriations for additions to the net asset base have been designated as contributed capital. Other transfers that are in the nature of contributions or distributions that have been designated as contributed capital are also treated as contributed capital.

(g) Comparative Figures

Where necessary, comparative fi gures have been adjusted to conform with changes in presentation in the current year.

(h) Payables

These amounts represent liabilities for goods and services provided to the Trustees prior to the end of the fi nancial year and which are unpaid. The amounts are unsecured and are usually paid within 60 days of recognition.

(i) Goods and Services Tax (GST)

Income expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the taxation authority. In this case it is recognised as part of the cost of acquisition of the asset or as part of the expense.

(j) Receivables

Receivables consist predominantly of debtors in relation to goods and services, accrued investment income and GST input tax credits recoverable. A provision for doubtful receivables is made when there is objective evidence that these debts will not be collected. Bad debts are written off when identifi ed.

(k) Inventories

Inventories include goods held for sale. Inventories held for sale are measured at the lower of cost and net realisable value.

(l) Web Site costs

Costs in relation to web sites controlled by the Trustees are charged as expenses in the period in which they are incurred unless they relate to the acquisition of an asset, in which case they are capitalised and amortised over their period of expected benefi t.

(e) Employee Benefi ts

Employee benefi ts expenses include all costs related to employment including wages and salaries, leave entitlements, redundancy payments and superannuation contributions. These are recognised when incurred except for contributions in respect of defi ned benefi t plans.

(i) Wages and Salaries, Annual Leave and

Sick LeaveLiabilities for wages and salaries, including non-monetary benefi ts, annual leave and accumulating sick leave expected to be settled within 12 months of the reporting date are recognised in the provision for employee benefi ts in respect of employee services up to the reporting date, classifi ed as current liabilities and measured at their nominal values.

Those liabilities that are expected to be settled after 12 months are recognised in the provision for employee benefi ts as current liabilities, measured at present value of the amounts expected to be paid when the liabilities are settled using the remuneration rate expected to apply at the time of settlement.

(ii) Long Service Leave Liability for long service leave (LSL) is recognised in the provision for employee benefi ts.

Current liability – unconditional LSL (representing 7 or more years of continuous service) is disclosed as a current liability even where the Shrine does not expect to settle the liability within 12 months because it will not have the unconditional right to defer the settlement of the entitlement should an employee take leave within 12 months.

Non Current liability – conditional LSL (representing less than 7 years of continuous service) is disclosed as a non current liability. There is an unconditional right to defer the settlement of the entitlement until the employee has completed the requisite years of service.

(iii) SuperannuationThe Trust contributes to the VicSuper Scheme, an accumulation fund where no on-going employer liability accrues. Employer contributions are based on a fi xed percentage of employee earnings in accordance with the Superannuation Guarantee Legislation (9% in 2010/11), (9% in 2009/10).

(m) Cash and Cash Equivalents

For the purposes of the cash fl ow statement, cash and cash equivalents comprises cash on hand, cash at bank, bank overdrafts and deposits at call, and highly liquid investments with an original maturity of 3 months or less, that are readily convertible to cash on hand and are subject to insignifi cant changes of value.

(n) Impairment

If there is an indication of impairment, the assets concerned are tested as to whether their carrying value exceeds their recoverable amount. Where an asset’s carrying value exceeds its recoverable amount, the difference is written-off by a charge to the operating statement, except to the extent that the write down can be debited to an asset revaluation reserve amount applicable to that class of assets.

The recoverable amount for most assets is measured at the higher of depreciated replacement cost and fair value less costs to sell. Recoverable amount for assets held primarily to generate net cash infl ows is measured at the higher of the present value of future cash fl ows expected to be obtained from the asset and fair value, less cost to sell. It is deemed that in the event of the loss of an asset, the future economic benefi ts arising from the use of the asset will be replaced, unless a specifi c decision to the contrary has been made.

(o) Resources Provided Free of Charge

The City of Melbourne provides maintenance of the Shrine Gardens and secretariat and administrative support to the Trustees free of charge.

(p) Events After Reporting Date

There were no events which occurred after the reporting date that require disclosure as a subsequent event.

(q) Rounding of Amounts

Amounts included in the fi nancial report have been rounded to the nearest dollar.

(r) Economic Dependency

A signifi cant proportion of the revenue is received through grant funding. The Shrine of Remembrance is reliant on this funding to meet its commitments as and when they fall due.



The above Comprehensive Operating Statement should be read in conjunction with the accompanying notes to and forming part of the fi nancial

NOTE 2011 ($) 2010 ($)

2. GRANTS

City of Melbourne 154,116 150,947

Department of Sustainability and Environment - Annual Grant 801,000 776,000

Department of Treasury and Finance 331,761 322,727

Department of Planning & Comm Development 1,206,585 1,118,370

Other Grants 109,761 205,448

2,603,223 2,573,492

3. DONATIONS

Collection Box - Cash Management 68,192 61,117

Sponsorships 138,700 141,320

Shrine of Remembrance Foundation 123,062 94,200

Other Donations - 8,886

329,954 305,523

4. INTEREST

Interest 76,825 57,410

76,825 57,410

5. OTHER INCOME

Included in other income is Sale of Assets

Proceeds of Sales - 400

Written Down Value - (277)

Gain on Sale of Asset - 123

6. DEPRECIATION

Plant and Equipment 53,066 34,390

Furniture and Fittings 16,486 14,371

Heritage Assets 879,385 880,442

948,937 929,204

7. EMPLOYEE BENEFITS

Wages 1,320,978 1,138,339

Superannuation 122,654 109,929

Workcover 27,061 23,548

Annual Leave Expense 79,304 60,146

Long Service Leave Expense 27,040 23,433

Fringe Benefi ts Tax - 2,031

1,577,037 1,357,425

Notes to the financial report for the year ended


(s) New Accounting Standards and Interpretations

The following standards, amendments to standards and interpretations have been identifi ed as those which may impact the Shrine in the period of initial application.



STANDARD INTERPRETATION SUMMARY APPLICABLE FOR ANNUAL REPORTING PERIODS BEGINNING OR ENDING ON

IMPACT ON FINANCIAL STATEMENTS

AASB 9: Financial Instruments and AASB 2009-11: Amendments to Australian Accounting Standards arising from AASB9 (AASB 1, 3, 4, 5, 7, 101, 102, 108, 112, 118, 121, 127, 128, 131, 132, 136, 139, 1023 & 1038 and Interpretations 10 & 12)

These standards are applicable retrospectively and amend the classifi cation and measurement of fi nancial assets. The entity has not yet determined the potential impact on the fi nancial statements.

Applicable for annual reporting periods commencing on or after 1 January 2013.

These changes are expected to provide some simplifi cation in the accounting for and disclosure of fi nancial instruments.

AASB 124: Related Party Disclosures

This standard removes the requirement for government related entities to disclose details of all transactions with the government and other government related entities and clarifi es the defi nition of a related party to remove inconsistencies and simplify the structure of the standard.


Although this standard does not strictly apply to Local Government it is often used as guidance, as such there will be greater clarity on the disclosure of inter government transactions.

AASB 2009-12: Amendments to Australian Accounting Standards (AASBs 5, 8, 108, 110, 112, 119, 133, 137, 139, 1023 & 1031 and Interpretations 2, 4, 16, 1039 & 1052)

This standard makes a number of editorial amendments to a range of Australian Accounting Standards and Interpretations, including amendments to refl ect changes made to the text of International Financial Reporting Standards by the IASB. The standard also amends AASB 8 to require entities to exercise judgment in assessing whether a government and entities known to be under the control of that government are considered a single customer for the purposes of certain operating segment disclosures.


These amendments are not expected to impact the entity.

AASB 2009-14: Amendments to Australian Interpretation – Prepayments of a Minimum Funding Requirement (AASB Interpretation 14)

This standard amends Interpretation 14 to address unintended consequences that can arise from the previous accounting requirements when an entity prepays future contributions into a defi ned benefi t pension plan.


These amendments are not expected to impact the entity.




NOTE 2011 ($) 2010 ($)

12. PROPERTY, PLANT AND EQUIPMENT (CONTINUED)

Heritage Assets

Shrine of Remembrance - At Independent Valuation 30.06.2007 117,690,002 117,690,002

Less Accumulated Depreciation (63,980,261) (63,151,322)

53,709,741 54,538,680

Other Heritage Assets - At Independent Valuation 30.06.2007 7,180,500 7,180,500

Less Accumulated Depreciation (2,596,692) (2,548,813)

4,583,808 4,631,687

Other Heritage Assets - At Fair Value 394,053 384,962

Less Accumulated Depreciation (4,990) (2,423)

389,063 382,539

Total Heritage Assets 58,682,612 59,552,906

Plant And Equipment

Plant and Equipment at Fair Value 1,111,888 431,626

Plant and Equipment at cost


982,182 354,986

Furniture And Fittings

Furniture and Fittings at Fair Value 282,083 221,861


236,855 193,119

Capital Works In Progress

Works in Progress 38,271 706,262

38,271 706,262

Total Property, Plant And Equipment 113,681,921 114,549,274

The basis of valuation is included under note 1(c) in the notes to and forming part of the Financial Report. The valuations have been conducted as follows:

(i) Valuation of Land was determined by the trustees based on land values movement data from the Valuer General Victoria. Valuation is as at 30 June 2008.

(ii Valuation of the Shrine of Remembrance was determined by the Valuer General Victoria on behalf of the Department of Planning and Community Development. Valuation is as at 30 June 2007.

(iii) Valuation of Other Heritage Assets was determined by Registered Valuers Mr Ian Burr, Mr Tim Pitcher and Mr Peter Tinslay on behalf of the Department of Sustainability & Environment. Valuation is as at 30 June 2007.

(iv) Plant & Equipment and Furniture & Fittings at Fair Value as assessed by the trustees annually.

NOTE 2011 ($) 2010 ($)

8. OTHER EXPENSES

Facility Costs 227,512 206,803

Marketing 114,770 104,051

Planning 12,962 91,285

Education 151,944 112,026

Exhibitions 116,063 194,183

Fundraising 106,804 65,192

Offi ce Expenses 27,918 31,253

Other Operating 252,678 229,677

Public Programs 22,325 21,860

1,032,976 1,056,331

9. AUDITORS REMUNERATION

Audit Fees - VAGO for audit of fi nancial statements 10,909 10,000

10,909 10,000

10. CASH AND CASH EQUIVALENTS

Cash on Hand 3,290 717

Cash at Bank 841,745 756,282

Discount Securities 600,000 500,000

1,445,035 1,256,999

11. RECEIVABLES

Interest on Investment 6,712 4,521

Other Receivables 74,537 25,325

81,249 29,846

12. PROPERTY, PLANT AND EQUIPMENT

Land

Shrine Gardens - At Valuation 30/06/2008 53,742,000 53,742,000

53,742,000 53,742,000








NOTE 2011 ($) 2010 ($)


Capital Works-in-Progress

Opening Balance (Carrying Amount) 706,262 216,961

Additions 40,987 797,242

Transfer to Heritage Assets - (114,889)

Transfer to Plant & Equipment (660,171) (193,051)

Transfer to Furniture & Fittings (48,807) -

Closing Balance (Carrying Amount) 38,271 706,262

Total Closing Balance (Carrying Amount) 113,681,921 114,549,274

13. PAYABLES

Accounts Payable 53,461 181,466

GST Payable 5,099 4,109

Audit Fees 10,909 10,000

Performance Guarantee Deposits 25,245 25,245

Accruals 78,657 30,973

173,372 251,792

14. EMPLOYEE BENEFITS

Current

Annual Leave 61,380 52,850

Long Service Leave 38,768 36,078

Non-Current

Long Service Leave 44,603 25,401

Total Employee Benefi ts 144,752 114,329

Current on costs 8,590 8,144

Non-current on costs 4,737 2,732

13,327 10,876

Total Employee Benefi ts and related on costs 158,078 125,205

Reconciliation of Movements

Annual Leave

Balance at the beginning of the fi nancial year 57,494 51,053

Additional Provisions 79,304 60,146

Amounts used (70,627) (53,705)

Balance at the end of the fi nancial year 66,171 57,494

NOTE 2011 ($) 2010 ($)


Reconciliations - Reconciliations of the carrying amounts of each class of property, plant and equipment at the beginning and end of the current fi nancial year are set out below.

Land

Opening Balance (Carrying Amount) 53,742,000 53,742,000

Closing Balance (Carrying Amount) 53,742,000 53,742,000

Heritage Assets - Shrine


Depreciation (828,939) (830,747)


Heritage Assets - Other


Additions 9,091 -

Transfers from Works in Progress - 114,889

Depreciation (50,446) (49,695)


Plant & Equipment


Additions 28,652 199,928

Transfers from Works in Progress 660,171 -

Disposals - (277)

Assets Written Off (8,561) -



Furniture & Fittings


Additions 12,894 30,031

Transfers from Works in Progress 48,807 -

Assets Written Off (1,479) -










NOTE 2011 ($) 2010 ($)

18. COMMITMENTS

Commitments for Expenditure Commitments contracted for at balance date but not recognised in the fi nancial statements as liabilities:

(a) Capital Commitments

Not later than one year 3,410 -

Later than one year and not later than fi ve years 1,705 -

5,115 -

(b) Lease Commitments

Operating Lease commitment Non-cancellable operating leases contracted for but not capitalised in the fi nancial statements:

Not later than one year 27,550 25,046

Later than one year and not later than fi ve years 18,166 50,092

Total Commitments 45,716 75,138

19. RESPONSIBLE PERSONS

Trustees

The names of the trustees who held offi ce during the fi nancial year are:

John Taylor (Chairman) - (July 2010 - Sept 2010)John Wertheimer (Acting Chairman) - (Oct 2010 - June 2011)Robert DoyleDavid Grierson

Dimity ReedDavid McLachlanJoAnne Stephenson - (July 2010 - April 2011)Helen Drennen

Total Remuneration paid or payable during the year to Trusteesfor sitting fees 7,879 11,679

7,879 11,679

Accountable Officer

The name of the Accountable Offi cer who held offi ce during the fi nancial year ended 30 June 2011 is: Denis Baguley

Total Remuneration paid or payable during the year to the Accountable Offi cer amounted to 180,647 169,085

Responsible Persons Related Disclosures

The person who held the position of Minister responsible for the Shrine of Remembrance for the reporting period is as follows:

Hon. John Brumby, MP, Minister for Veterans Affairs, 1 July 2010 - 2 December 2010Hon. Hugh Delahunty, MP, Minister for Verterans Affairs, 2 December 2010 - 30 June 2011

Remuneration paid to the former Minister for Veterans Affairs, Hon. John Brumby, MP, will be reported in the Annual Report of the Department of Premier and Cabinet.

Remuneration paid to the Minister for Veterans Affairs, Hon. Hugh Delahunty, MP, will be reported in the Annual Report of the Department of Planing and Community Development.

Related Party Transactions

There are no related party transactions relating to any of the trustees or responsible offi cers.

NOTE 2011 ($) 2010 ($)

14. EMPLOYEE BENEFITS (CONTINUED)

Long Service Leave

Balance at the beginning of the fi nancial year 67,711 49,246

Additional Provisions 27,040 23,433

Amounts used (2,843) (4,968)

Balance at the end of the fi nancial year 91,908 67,711

The amount of current employee benefi ts expected to be settled within 12 months after the reporting date is $51,053 for Annual Leave and $0 for Long Service Leave.

15. RESERVES

Composition:

Asset Revaluation: Land 32,542,000 32,542,000

Buildings 22,916,943 22,916,943

Other Heritage Assets 2,941,411 2,941,411

Total Reserves 58,400,354 58,400,354

Movements in Reserves were as follows:

Asset Revaluation Reserve

Opening Balance 58,400,354 58,400,354

Revaluation of Land - -

Revaluation of Shrine of Remembrance - -

Revaluation of Other Heritage Assets - -

Closing Balance 58,400,354 58,400,354

16. RECONCILIATION OF (DEFICIT) FOR THE YEAR TO NET CASH PROVIDED BY OPERATING ACTIVITIES

Net Result for the year (591,139) (452,247)

Depreciation 948,937 929,204

(Increase)/Decrease in Receivables (51,403) (28,572)

Increase/(Decrease) in Payables (78,420) 158,707

Increase/(Decrease) in Employee Benefi ts 32,873 24,905

(Increase)/Decrease in Inventories 8,772 (7,549)

Net cash provided by operating activities 269,620 624,448

17. RECONCILIATION OF CASH

Cash on Hand 3,290 717

Cash at Bank 841,745 756,282

Investments 600,000 500,000

Balances per cash fl ow statement 1,445,035 1,256,999

The Shrine of Remembrance has available the following bank facilities: Credit Card (Mastercard) - limit $10,000Tape negotiation authority - limit $90,000.







NOTE

21. FINANCIAL INSTRUMENTS (CONTINUED)

(iii) Credit Risk (Continued)

Interest rate exposure and ageing analysis of fi nancial assets.

INTEREST RATE EXPOSURE PAST DUE BUT NOT IMPAIRED IMPAIRED

Weighted average effective interest rate %

Carrying amount

Fixed interest

rate

Variable interest

rate

Non- interest bearing

Less than 1 month

1 month-3 months

3 months - 1 year

1-5 years Impaired

2011

Cash Assets 3.61 1,445,035 600,000 841,745 3,290 - - - - -

Receivables 89,615 - - 81,249 - - - - -

1,534,650 600,000 841,745 84,539 - - - - -

2010

Cash Assets 4.10 1,256,999 500,000 756,282 717 - - - - -

Receivables 29,846 - - 29,846 - - - - -

1,286,845 500,000 756,282 30,563 - - - - -

(iv) Liquidity risk

Liquidity risk arises when the entity is unable to meet its fi nancial obligations as they fall due. The entity operates under the policy of settling fi nancial obligations within 30 days and in the event of a dispute, make payments within 30 days from the date of resolution. It also continuously manages risk through monitoring future cash fl ows and maturities planning to ensure adequate holding of high quality liquid assets and dealing in highly liquid markets.The entity's exposure to liquidity risk is deemed insignifi cant based on prior periods' data and current assessment of risk. Maximum exposure to liquidity risk is the carrying amounts of fi nancial liabilities.

Interest rate exposure and ageing analysis of fi nancial liabilities.

INTEREST RATE EXPOSURE MATURITY DATES

Weighted average effective

interest rate %Nominal amount

Fixed interest

rate

Variable interest

rate

Non- interest bearing

Less than 1 month

1 month-3 months

3 months - 1 year

1-5 years

2011

Payables - 89,615 - - 89,615 89,615 - - -

89,615 - - 89,615 89,615 - - -

2010

Payables - 216,710 - - 216,710 216,710 - - -

216,710 - - 216,710 216,710 - - -

NOTE 2011 ($) 2010 ($)

20. SUPERANNUATION

Superannuation Contributions for the reporting period are included as part of employee benefi ts and on-costs in the Operating Statement of the entity.

The name and details of the major employee superannuation funds and contributions made by the entity are as follows:

Vic Super 64,921 64,033

D Baguley Superannuation Fund 14,354 14,178

Vision Super 16,378 13,225

Other Funds 27,001 18,493

122,654 109,929

21. FINANCIAL INSTRUMENTS

(i) Significant accounting policies

Details of the signifi cant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognized, with respect to each class of fi nancial asset, fi nancial liability and equity instrument are disclosed in Note 1 to the fi nancial statements.

(ii) Categorisation of fi nancial instruments

NOTE CATEGORY

CARRYING AMOUNT

2011 ($)

CARRYING AMOUNT

2010 ($)

Financial Assets

Cash and cash equivalents 8 N/A 1,445,035 1,256,999

Receivables 9 Receivables 81,249 29,846

Financial Liabilities

Payables 13 Liabilities 89,615 216,710

(iii) Credit Risk

Credit risk represents the loss that would be recognised if counterparties failed to perform as contracted. The entity's maximum exposure to credit risk at balance date in relation to each class of recognised fi nancial asset is represented by the carrying amount of those assets as indicated in the balance sheet.

Financial Assets that are either past due or impaired

Currently the entity does not hold any collateral as security nor credit enhancements relating to any of its fi nancial assets. As at the reporting date, there is no indication that the fi nancial assets have been impaired.There are no fi nancial assets that have had their terms renegotiated so as to prevent them from being past due or impaired, and they are stated at the carrying amounts as indicated. The following table discloses the ageing only of fi nancial assets that are past due but not impaired.






Disclosure Index

The Annual Report of the Shrine of Remembrance is prepared in accordance with all relevant Victorian legislation. This index has been prepared to facilitate identifi cation of the authority’s compliance with statutory disclosure requirements.

Legislation Requirement Page Number

Charter and purposeFRD 22 Manner of establishment and the relevant Ministers 4

FRD 22 Objectives, functions, powers and duties 3, 4

FRD 22 Nature and range of services provided 3, 4

Management and structureFRD 22 Organisational structure 8

Financial and other informationFRD 22 Statement of workforce data and merit and equity 40

FRD 22 Summary of the financial results for the year 22

FRD 22 Significant changes in financial position during the year 22

FRD 22 Operational and budgetary objectives and performance against objectives 11

FRD 22 Major changes or factors affecting performance 11

FRD 22 Subsequent events 40

FRD 22 Application and operation of Freedom of Information Act 1982 40

FRD 22 Application and operation of the Whistleblowers Protection Act 2001 40

FRD 22 Compliance with building and maintenance provisions of Building Act 1993 40

FRD 22 Statement on National Competition Policy 40

FRD 22 Details of consultancies over $100,000 40

FRD 22 Details of consultancies under $100,000 40

FRD 12 Disclosure of major contracts NIL

FRD 22 Statement of availability of other information 40

FRD 22 Occupational health and safety 40

FRD 15 Executive officer disclosures 40

FRD 10 Disclosure index 39

Financial Statements

Financial statements required under Part 7 of the FMA

SD 4.2(c) Compliance with Australian accounting standards 21

SD 4.2(c) Compliance with Ministerial Directions 20, 21

SD 4.2(d) Rounding of amounts 27

SD 4.2(c & j) Accountable officer’s declaration 19

SD 4.2(f) Model Financial Report 40

SD 4.2(b) Statement of financial performance 19

SD 4.2(b) Statement of financial position 19

SD 4.2(b) Statement of cash flows during the year 24

SD 4.5.5 Risk Management Framework Assurance 40

Other disclosures in notes to the financial statements

FRD 11 Disclosure of ex-gratia payments NIL

FRD 21 Responsible person and executive officer disclosures 19, 35

FRD 23 Superannuation liabilities and disclosure 26, 36


NOTE

21. FINANCIAL INSTRUMENTS (CONTINUED)

(v) Market Risk

The entity's exposure to market risk is primarily through interest rate risk. Objectives, policies and processes used to manage this risk are disclosed in the paragraph below.

Interest rate riskExposure to interest rate risk might arise primarily through the entity's cash and deposits. Minimisation of risk is achieved by mainly undertaking fi xed rate or non interest bearing fi nancial instruments.

Sensitivity disclosure analysisTaking into account past performance, future expectations, economic forecasts and management's knowledge and experience of the fi nancial markets, the entity believes the movements in the table below are 'reasonably possible' over the next 12 months. The table discloses the impact on net operating result and equity for each category of fi nancial instrument held by the entity at year end as presented to key management personnel, if the above movements were to occur.

Market Risk Exposure

INTEREST RATE RISK

-1% (100 basis points) +1% (100 basis points)

2011 Financial Assets Carrying Amount Profit Equity Profit Equity

Cash Assets 1,445,035 (1,445) (1,445) 1445 1445

2010 Financial Assets

Cash Assets 1,256,999 (1,256) (1,256) 1256 1256

(vi) Fair Value

The fair values and net fair values of fi nancial assets and fi nancial liabilities are determined as follows:

The Fair Value of Financial Assets and Financial Liabilities with standard terms and conditions and traded in active liquid markets are determined with reference to quoted market prices; and

The fair value of other fi nancial assets and liabilities are determined in accordance with generally accepted pricing models based on discounted cash fl ow analysis.

The entity considers that the carrying amount of fi nancial assets and fi nancial liabilities recorded in the fi nancial report to be a fair approximation of their fair values, because of the availability of accurate market prices or their short term nature and the expectation that they will be paid in full.



40 SHRINE OF REMEMBRANCE | MELBOURNE

Appendix

© State of Victoria, Shrine of Remembrance 2011. This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968.

Workforce data

The Shrine of Remembrance Trustees directly employs a Chief Executive, full and part time administrative staff, custodians and contract employees.

The salary range of the one executive employee is between $130,000 and $180,000.

The City of Melbourne provides grounds maintenance services and grant assistance towards administrative and secretarial support including payroll, accounting and planning via a Memorandum of Understanding. Victoria Police provide the Shrine Guards.

The Shrine is also supported by over 90 Volunteers.

Freedom of Information

The Shrine of Remembrance is subject to the provisions of the Freedom of Information Act. The Freedom of Information Act gives individuals and organisations a general right of access to information held by the Shrine of Remembrance. It also provides a right of appeal in relation to decisions to refuse access to information made by the Shrine of Remembrance regarding Freedom of Information requests.

The Trustees received no Freedom of Information requests during 2010/2011.

Requests should be forwarded to Shrine of Remembrance Trustees, GPO Box 1603, Melbourne, Victoria 3001.

Whistleblowers Protection Act

The Whistleblowers Protection Act 2001 came into effect on 1 January 2002. The Act is designed to protect people who disclose information about serious wrongdoing within the Victorian Public Sector and to provide a framework for the investigation of these matters.

Disclosures of improper conduct by the Trustees or their employees may be made to:

The Ombudsman Victoria

Level 9, 459 Collins Street, Melbourne VIC 3000

PH: 9613 6222 Toll free: 133 677

Merit and Equity

The Shrine of Remembrance adheres to the Public Administration Act 2004 which provides guidance on employment and conduct principles.

National Competition Policy

The Trustees adhere to the principles of the National Competition Policy (NCP) to ensure that any business competition with private entities takes place in an environment where the Trustees have no competitive advantages.

Financial Management Act 1994

Other information as required under the Financial Management Act 1994, but not specifi cally referred to, has been retained by the accountable offi cer and is available to the Minister, Members of Parliament and the public on request.

Cultural Diversity

The Trustees are committed to policies, programs and strategies aimed at delivering culturally appropriate services to all Victorians.

Building Act 1993

During the reporting period the Trustees have complied with the Building Act 1993.

Occupational Health and Safety

The Shrine Finance and Audit Committee oversee and review OH&S policies and procedures. 334 hours were lost through workplace accidents during the reporting period.

Consultancies

The Trustees engaged 11 consultancies at a total cost of $84,214.72 during the reporting period. There were no consultancies in excess of $100,000 entered into during the reporting period.

Events occurring after balance date

No material events occurred after balance date.

Model Financial Report

This Annual Report is modelled on the Model Financial Report as far as possible for this entity.

Further information

Information relevant to the headings listed in Financial Reporting Direction 22 of the Financial Management Act 1994 is held at the Shrine and is available on request.

Risk Management Framework Assurance

The Acting Chairman of Trustees, John Wertheimer, certifi es that the Shrine of Remembrance has risk management processes in place consistent with the Australian/New Zealand Risk Management Standard and an internal control system that enables Trustees to understand, manage and satisfactorily control risk exposures. The Shrine’s Finance and Audit Committee verifi es this assurance that the risk profi le of the Shrine has been critically reviewed within the last 12 months.

Staff Numbers 2009/2010 2010/2011

Chief Executive 1 1

Shrine Staff (total) 30 40

annual report 2010 - 2011 - shrine of remembrance

Documents