32 RACING AUSTRALIA ANNUAL REPORT 2023 SHORT TERM AND LONG-TERM OBJECTIVES Racing Australia’s Vision • To be Australia’s favourite sport. • To conduct the world’s best races. • To be the world’s leading Thoroughbred Racing Industry. Core objective • Leverage existing assets further and identify new commercial opportunities. Core functions • National Rules • National Integrity • National and International Advocacy • National Coordination • National Research and Analysis • Identify and Maximise Best Practice • National Efficiency/Back Office • Recognise and reward excellence in the industry • Communicate our role • Seek to identify emerging issues including Animal Welfare and provide leadership via a common policy approach including minimum standards. KEY PERFORMANCE MEASURES The company measures its own performance through the use of both quantitative and qualitative benchmarks. The benchmarks are used by the directors to assess the financial sustainability of the company and whether the company’s short-term and long-term objectives are being achieved. This includes the publication of service standard performance reports monthly on the Racing Australia website. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS There were no significant changes in the state of affairs of the consolidated entity during the financial year. MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR There has not been any matter or circumstance, other than that referred to in the financial statements or notes thereto, that has arisen since the end of the financial year, that has significantly affected, or may significantly affect, the operations of the company, the results of those operations, or the state of affairs of the company in future financial years. LIKELY DEVELOPMENTS AND EXPECTED RESULTS OF OPERATIONS Likely developments in the operations of the consolidated entity and the expected results of those operations have not been included in this report as the directors believe, on reasonable grounds, that the inclusion of such information would result in unreasonable prejudice to the consolidated entity. ENVIRONMENTAL REGULATIONS The consolidated entities operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory. INFORMATION ON DIRECTORS Russell Balding AO – Director Chairman, Racing New South Wales, Chairman, NSW Racing Pty Ltd T/A Racingcorp, Chairman, ComfortDelGro Corporation Australia Pty Ltd, Director, ComfortDelGro Corporation Limited (Singapore), Deputy Chairman of Destination NSW, Director, The Trust Company (Sydney Airport) Limited. Racing Australia Committees: Member, Australian Pattern & Development Committee. Former: Chairman of Cabcharge Australia Limited, Director, ComfortDelGro Cabcharge Pty Ltd, Director, CityFleet Networks Ltd (UK), Chairman of the Visitor Economy Taskforce, Member of The NSW Crown Land Taskforce, Chief Executive Officer of the Sydney Airport Corporation, Managing Director of the Australian Broadcasting Corporation (ABC), Director of Funding, Finance and Support Services and CFO of the Australian Broadcasting Corporation (ABC), Director of Finance at the NSW Roads and Traffic Authority. Awarded Officer of the Order of Australia in 2007 for service to the Australian broadcasting industry, particularly through initiatives in the areas of service delivery, advanced technology, and financial management, and to the accounting profession through CPA Australia. Qualifications: Dip Tech (Com) / B Bus / FCPA / MAICD / SID Peter V’landys AM – Alternate Director to Russell Balding AO Chief Executive Officer, Racing New South Wales, Chairman, Australian Rugby League Commission, NSW Arts & Culture Advisory Committee, Secretary, Racing Appeals Tribunal, Secretary, Racing NSW Appeal Panel, Chairman, Racing Product Committee, Chairman, Racing NSW Animal Care and Ethics Committee, Member, Product Supply Advisory Group, Chairman, National Jockeys Safety Committee, Director, RacingCorp Pty Ltd, Chairman, Australian Racing and Equine Academy. Racing Australia Committees: Chair, Australian Classifications Committee, Chair, Finance, Governance & Remuneration Committee, Member, Riding Protocols Committee. Former: Director, Racing Information Services Australia, DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2023
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