2016 REPORT2016 REPORTANNUALANNUAL2016 REPORTANNUALRACING COUNTRYRACING COUNTRYNSWNSWRACING COUNTRYNSW

Annual General Meeting

NOTICE OF MEETINGNotice is hereby given that the Annual General Meeting of Racing NSW Country Ltd will be held in the Boardroom of Racing NSW, Level 7, 51 Druitt Street, Sydney on Tuesday 22nd November 2016 commencing at 10.00am.

BUSINESS1. Apologies2. Adopt the Minutes of the Annual General Meeting of Racing NSW Country held on 24 November 2015.3. Receive and consider the Chairman's Report on behalf of the Board.4. Receive and consider the Financial Statements for the year ending 30 June 2016.5. Elect Auditors to hold office until the next Annual General Meeting.

Paul WeekesChief ExecutiveRacing NSW Country Limited

Front Cover - Clearly Innocent winning the Final of the Country Championships

Rear Cover - Country Championship Regional Heat winnersSDRA - Steakandbearnaise (photo courtesy of Daniel Johns (Fairfax - Wagga Advertiser)NRRA - Profiler (photo courtesy of Trackside Photography)CDRA - Pera Pera (photo courtesy of Janian McMillan)H&NWRA - Clearly Innocent (photo courtesy of Bradley Photographers)SERA - Lofty’s Menu (photo courtesy of Bradley Photographers)MNCRA - Another Valley (photo courtesy of Trackside Photography)WRA - Something Borrowed (photo courtesy of Janian McMillan)Wildcard - Chrysolaus (photo courtesy of Katrina Partridge)

S t a f f & C o r p o r a t ePaul Weekes Chief Executive

Administrative services are provided by Racing NSW and in particular by:

Scott Kennedy RNSW General Manager – Industry & AnalyticalShane Meaney RNSW Racing ManagerAndrew Small RNSW Projects ManagerDave Hodgson RNSW Racecourse ManagerBianca Parker RNSW Executive Assistant

AUDITORSBDO Chartered Accountants

BANKERSCommonwealth Bank of Australia

C o n t e n t s

3

Notice of Annual General MeetingStaff and Corporate DetailsPerformance HighlightsBoard MembersChairman's ReportChief Executive’s ReportPremierships and Feature Race Winners CRDF ReportFinancial StatementsDirector's ReportDeclaration By AuditorsAppendix 1 Club Performance ComparisonsAppendix 2 Country Racecourse Development Fund Summary of Payments

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1012182135374042

Performance Highlights

Racing NSW Country conducted 488 race meetings at 113 racetracks.

Race Clubs 119Racecourses 113Total Race Meetings 488TAB Race Meetings 370Community Race Meetings 93Picnic Race Meetings 25Races 3,378Starters 33,780

Average field size for TAB meetings highest in the state at 10.6

Average prizemoney per race $14,714

Total Returns to Owners $57,006,430

TAB Turnover – TOTE $244,193,861TAB Turnover – Fixed Odds $121,246,039

4

AVERAGE FIELD SIZES - NSW

Metropolitan Provincial Country

12

10

8

6

4

0

2014

9.7

9.7

10.3

AVERAGE FIELD SIZES - COUNTRY

TAB Meetings Community Meetings

12

10

8

6

4

0

10.8 8.1

20142010 2011 2012 20132010 2011 2012 2013

9.9

9.6

9.7

9.6

10.2

9.8

9.8

9.9

10.7

10.9

10.6

10.4

11.3

11.0

11.1

10.88.7

8.6

8.4

8.3

2015

9.3

9.3

10.3

10.7 8.2

20152016

10.0

9.0

10.2

10.6 8.2

2016

AVERAGE PRIZEMONEY PER RACE

Prizemoney

$16000

$14000

$12000

$10000

$8000

$6000

$0

$14,

415

$9,0

92

2010

$9,4

58

$10,

016

$14,

265

2011 2012 2013 2014

TOTAL COUNTRY MEETINGS

TAB Meetings Community Meetings

400

300

200

100

50

0 391

108

331

349

363

382

150

107

110

110

2010 2011 2012 2013 2014

TOTAL NSW MEETINGS

Metropolitan Provincial Country

600

500

400

300

200

0 115

134

499

123

123

118

124

131

123

120

118

331

349

473

492

2010 2011 2012 2013 2014

5

TOTAL RETURNS TO OWNERS

Returns to Owners

$60m

$55m

$50m

$45m

$40m

$35m

$30m

$25m

0

$59,

031,

722

20142010

$38,

207,

150

2011

$38,

642,

871

2012

$41,

239,

171

2013

$57,

886,

172

112

130

479

2015

379

100

2015

$14,

471

2015

$57,

689,

649

2015

114

131

463

2016

370

93

2016

$14,

714

2016

$57,

006,

430

2016

Planning and DevelopmentTo enhance the operations of country thoroughbred racing in NSW in accordance with the plans and strategies of Racing NSW.

Maximise ParticipationTo maximise returns to ensure participation in country racing is enjoyable and affordable.

Adherence to Key Racing AgreementsEnsure country race clubs and RNSWC adhere to the Racing Distribution Agreement, Inter-Code Deed and Intra-Code Agreement.

Scheme of DistributionEnsure the long-term financial interests of race clubs and returns to country racing participants are maximised.

Race Club Co-ordination and SupportCo-ordinate financial, racing, marketing and racecourse development to support race clubs so as to ensure a high quality country racing product.

AdministrationEnsure country racing is administered in an efficient, cost effective and business like manner.

Racecourse DevelopmentEnsure the protection, maintenance and development of country racecourse infrastructure.

Guarantee of ServiceGuarantee effective, timely and appropriate service to participants, customers and service providers.

Industry LiaisonEnsure effective liaison between RNSWC and all industry groups.

Industry IntegrityMaintain the high level of integrity of NSW country racing.

Board Members

KEY RESPONSIBILITIES OF RACING NSW COUNTRY

6

Articles of Association As per the Articles of Association, Section 3.2.1, the Board of Racing NSW Country consists of one member from each country racing association area elected by the Council Members within that country racing association area.

Mr Rod WattSolicitorRace Club Nominee H & NWRAAttended 6 meetings

Mr Michael InglisDeputy ChairmanBarristerRace Club Nominee SDRAAttended 6 meetings

Mr Bob PavittChairman

ConsultantRace Club Nominee

NRRAAttended 6 meetings

Mr Greg DelaforceBusinessmanRace Club Nominee MNCRAAttended 5 meetings

Mr Michael MartinBusinessmanRace Club NomineeSERA Attended 4 meetings

Mr David RinglandBusinessmanRace Club Nominee CDRAAttended 0 meetings

Mr Michael KennedyGrasierRace Club Nominee WRAAttended 5 meetings

7

8

Chairman's Repor t

2015/16 was another watershed year for country racing in NSW. Whilst touched upon in my report last year Racing NSW has now successfully negotiated Taxation Parity with the NSW State Government passing the required legislation during the course of the year.

In terms of the country sector the benefits of Taxation Parity will be numerous and the additional revenue derived by the industry will be advantageous to all racing participants. From July 2016 minimum prizemoney at full TAB and Saturday Matinee meetings will be increased to $20,000 per race. In addition the allocation of “Showcase” meetings across the state with minimum prizemoney of $30,000 per race will be eagerly anticipated.

Country race clubs will also benefit from additional subsidies from Racing NSW resulting from Taxation Parity to assist and underpin their ongoing viability with such subsidies to commence in 2016/17. It is also understood that additional funds have been earmarked for new capital expenditure projects with a view to improving racing, training and customer facilities.

The Board would again congratulate Chief Executive Peter V'landys, the Chairman and Board of Racing NSW, on successfully negotiating Taxation Parity with the NSW State Government as well as acknowledging the contribution of Racing Minister, Hon. Troy Grant for his support and involvement.

Following on from a successful introduction last year the Country Championships Heats continued to generate unprecedented interest in country racing throughout the State culminating in the final on day one of the Championships at Randwick.

The heats conducted in major regional centres throughout NSW were well patronised and vir tually all key performance indicators were well up on the previous year. It is also pleasing to see that both finals winners from the first two years in Artlee and Clearly Innocent have graduated to black type company and have promising futures.

Complementing the Championships was the introduction

of the TAB Highway Handicap. Featuring on most Saturdays at metropolitan venues this race, restricted solely to country trained gallopers has proved to be a great success providing country participants with additional opportunities in terms of both prizemoney and exposure. The recent announcement to increase prizemoney of these TAB Highway races to $60,000 is applauded and serves to recognise the success of this concept. The Board congratulates Racing NSW on this initiative.

During the course of the year extensive capital works were undertaken and completed at Port Macquarie Race Club ($3.7m), Tamworth Jockey Club ($2.15m), Coffs Harbour Race Club ($1.17m) and Racing Orange ($1.3m). Whilst there have been disruptions to racing at these venues these projects (funded by Racing NSW) will no doubt result in improved racing and/or training surfaces and be of long term benefit to these clubs and their respective regions.

Further capital works projects are also scheduled in the new-year for Dubbo Turf Club ($1.55m) and Albury Racing Club ($1.3m) which will result in temporary closure of racing at these venues. The support of the surrounding clubs in these areas is greatly appreciated in accepting additional race meetings to minimise disruptions to racing during these periods of closure.

Complementing these major Racing NSW projects the Country Racecourse Development Fund continues to play an important role in providing financial assistance to clubs towards improving racing and general infrastructure facilities. During the course of the year the verti-drain project was finalised which will result in all country clubs with higher volumes of racing and training activities now having ready access to this equipment.

The contribution of independent committee members, Gordon Lindley and Alan Davidson and Racing NSW's Andrew Small towards the management of the Fund is acknowledged.

It is also pleasing to see the continued improvement in the trading and financial position of most race clubs during the

9

course of the previous year. With the benefit of increasing revenue streams from TAB Exclusivity, Digital and Sky International Fees etc. most country race clubs now present in a satisfactory or better overall financial position. In the main this has assisted clubs to adequately maintain and/or improve their facilities for the benefit of all racing participants.

Notwithstanding the general improvement in club finances the Board recognises the challenges encountered by clubs particularly in terms of escalating costs. With a view to providing further assistance to clubs, commencing July 2016 all country clubs will receive a $1,000 per meeting (or $1,500 for once a year clubs) subsidy towards the cost of ambulance services at race meetings. In addition the Board has also approved a funding contribution towards solar power installations at major regional clubs.

At this point I would like to acknowledge the hard working committee members and officials who have conducted countr y race meetings and contr ibuted to the administration of race clubs across the state during the past year.

Their efforts and the efforts of the Racing NSW Country Board have been assisted greatly by the support of the Racing NSW Board, Chairman John Messara and Chief Executive Peter V'landys, together with his staff, for which we are greatly appreciative.

The small team of administrators concentrating on Country Racing within the Racing NSW organisation including Scott Kennedy, Bianca Parker, Shane Meaney, Dave Hodgson and Andrew Small is acknowledged and thanked.

The Racing NSW Country Board also enjoys the support of Hon. Troy Grant, the Minister for Racing and acknowledges his support and understanding of the needs of country racing.

The fusion of the many components of country racing can only be achieved by a dedicated and hard-working Board of Directors and country racing has benefited from their contribution throughout the year. I would particularly take

this opportunity acknowledge two Directors who stood down during the year. Mr Les Maley OAM and Mr Max Walker both of whom devoted countless hours to the Racing NSW Country Board and towards the betterment of thoroughbred racing in country NSW.

Finally I would also like to acknowledge the outstanding contribution made by Brian Judd who retired from his long standing role as Chief Executive during the year. I'm sure I speak for all clubs in thanking Brian and wishing him all the best in retirement.

We also welcome Paul Weekes into the role of Chief Executive. Paul is well known to country racing participants and he has stepped into this role in great fashion continuing the high standards set by Brian.

We now look forward to 2016/17 with optimism and for the continued success of racing in country NSW.

Mr Bob Pavitt Chairman

10

Chief Executive’sRepor tIt is with great pleasure that I present this report in this my first year as Chief Executive.

Racing NSW Country has delivered a trading surplus for the year of $3.27 million. In achieving this surplus a number of factors must be considered including again, a high number of meetings lost through bad weather. Whilst resulting in reduced expenditure within the Racing NSW Country central budget, cancelled race meetings stifle opportunities for clubs to raise additional revenues and maintain profitability.

Another factor contributing to the quantum of the surplus being a less than expected level of expenditure from the Country Racing Development Fund (CRDF). It should however be noted that the full extent of this shortfall in CRDF expenditure is likely to be carried forward in to the 2016/17 year, to fund upcoming projects.

The other major influence on industry funding was the stabilisation of TAB revenue up slightly on last years previous record amount. Despite the loss of 29 TAB race meetings TAB turnover in the country sector increased to an impressive $365.4 million (from $361.9 million in 2015) resulting in a market share approaching 35%.

Bearing in mind the continuation in the shift in wagering trends from TOTE based towards Fixed Odds betting and an ongoing migration of wagering turnover to corporate operators, total TAB turnover in the country sector has increased by approximately 1% during the year (with 9 less meetings conducted). It is also pleasing to note that TAB revenue derived by RNSWC during the year increased slightly to $42.3 million from $42 million in 2015.

In summary the key industry indicators are as follows:

· TAB meetings conducted

o Full TAB - 308

o Sky 2 - 38

o Matinee - 24

· Community Meetings conducted - 93

· Picnic Meetings conducted - 25

· Average prizemoney across the country sector per race has increased to $14,741

· Total returns to owners has decreased from $57.7 million to $57 million, predominantly due to the high number of lost race meetings

· Average field sizes across the country sector have decreased slightly to 10.2 (10.6 at TAB meetings).

Given the quantum of the surplus for 2015/16 apart from solidifying the overall financial position of Racing NSW Country in terms of reserves, further consideration will be given throughout the ensuring year to further assist race clubs particularly in the areas of facility maintenance and capital improvements. Whilst field sizes in the country sector continue to remain healthy and exceed those of the other thoroughbred sectors, there has been a noticeable downward trend which will need to be monitored in future years particularly in terms of the allocation of a sustainable number of race meetings. For Racing NSW Country, payments to race clubs remained steady compared to the previous year and race meeting expenses decreased by $489,482 for the corresponding period. Race meetings lost due to weather being the main contributor.

Looking forward to 2017 and beyond, race clubs and other participants within the country racing sector in NSW have reason for optimism. The improved trading position of most race clubs combined with prudent ongoing management will ensure a viable future, one that can only be further solidified once the full impact of Taxation Parity is realised.

As in previous years Racing NSW Country has received strong support from the Board, Chief Executive and staff of Racing NSW, for which we are appreciative. The support of Peter V'landys, Scott Kennedy, Shane Meaney, Andrew Small, Dave Hodgson and Bianca Parker has contributed significantly to the betterment of country racing in NSW.

I would like to thank the Racing NSW Country Board for the opportunity afforded to me in the new role as Chief Executive. Headed by Chairman Bob Pavitt, the Board have continued to provide dedicated, effective and strong leadership during another rewarding year for country racing.

11

Finally I would like to pay tribute to my predecessor Brian Judd who retired mid-year. Brian has been an outstanding racing administrator and during the course of the past four years has provided both mentoring and imparted significant knowledge which in no small way has been of great assistance in the smooth transition into this new and challenging role.

Mr Paul WeekesChief Executive

12

Premierships

Association TrainerASSOCIATION - TRAINERS

AssociationASSOCIATION - JOCKEY'S

AssociationASSOCIATION APPRENTICE JOCKEY'S

13

Jockey Wins

Wins Apprentice

TrainerTRAINER’S

JOCKEY’S

Wins

APPRENTICE JOCKEY’S

Jockey

Apprentice

123456=6=89=9=

Paul PerryBrett ThompsonBjorn BakerNeil GodboltMatthew DaleBarbara Joseph & Paul JonesMatthew DunnDanny WilliamsSue GrillsKris Lees

67544639383737363535

123456=6=8910

Greg RyanMathew CahillMatthew McGurenBen LookerPeter GrahamJohn KissickGrant BuckleyBrendan WardRobert ThompsonRaymond Spokes

12379

68½ 68676666656260

Samantha ClentonNick HeywoodJake Pracey-holmesVad BolozhinskyiKayla NisbetBlaike McDougallJodi WorleyBrooke SweeneyMollie PartridgeAdam Sewell

123456=6=89=9=

41363432313030272626

CDRA

H&NWDRA

MNCRA

NRRA

SDRA

SERA

WRA

Bjorn Baker

Paul Perry

Neil Godbolt

Matthew Dunn

Brett Cavanough

Danny Williams

Rodney Robb

CDRA

H&NWDRA

MNCRA

NRRA

SDRA

SERA

WRA

Greg Ryan

Greg Ryan

Robert Thompson

Matthew McGuren

John Kissick

Jeff Penza

Greg Ryan

CDRA

H&NWDRA

MNCRA

NRRA

SDRA

SERA

WRA

Blaike McDougall

Samantha Clenton

Samantha Clenton

Jodi Worley

Nick Heywood

Winona Costin

Clayton Gallagher

26

54

24

37

34

22

23

40

70

28

59½

41

26½

17

13

35

33

17

17

11

9

14

VENUE

170,000 40,000 35,000 50,000 25,000 25,000 35,000 25,000 27,500 85,000 40,000 40,000 20,000 30,000 25,000 50,000 25,000 30,000

100,000 150,000 150,000 50,000 55,000 25,000 30,000 25,000 45,000 30,000 30,000 35,000 33,000 50,000 26,000 50,000 25,000

100,000 30,000 35,000 35,000

200,000 200,000 400,000 30,000 80,000 60,000 27,000

150,000 100,000 30,000 25,000 100,00

PRIZEMONEYFeature TAB Race Winners

AlburyAlburyArmidaleBallinaBathurstBowravilleBroken HillCasinoCessnockCoffs HarbourCoonabarabranCoonambleCootamundraCorowaCowra DubboForbesGilgandraGoulburnGraftonGraftonGraftonGundagaiGunnedahInverellKempseyLismoreMoreeMoruyaMudgeeMurwillumbahMuswellbrookNarromineOrangeParkesPort MacquarieQueanbeyanQuirindiSapphire CoastSconeSconeSconeShoalhavenTamworthTareeWauchope WaggaWaggaWalchaWarrenWellington

15

TRAINERJOCKEYCLASS WINNERDIST.

Abandoned - Wet Weather

Not Run - Track Renovations

Albury CupAlbury City HcpArmidale CupBallina CupBathurst CupBowraville CupOutback CupCasino CupJungle Juice CupCoffs Gold CupCoonabarabran CupCoonamble CupCootamundra CupCorowa CupCowra CupDubbo CupForbes CupGilgandra CupGoulburn CupGrafton CupRamornie HcpSouth Grafton CupSnake Gully CupGunnedah CupInverell CupKempsey CupLismore CupMoree CupMoruya CupMudgee CupMurwillumbah CupMuswellbrook CupNarromine CupOrange CupParkes CupPort Macquarie CupQueanbeyan CupQuirindi CupBega CupScone CupDark Jewel ClassicInglis GuineasNowra CupTamworth CupTaree CupWauchope CupWagga Gold CupWagga Town PlateWalcha CupCotton CupWellington Boot

2000M1175M1900M1600M1800M1370M1600M1400M1350M1600M1600M1600M1600M1600M1700M1600M1600M1600M1600M2350M1200M1600M1400M1600M1400M1450M2100M1400M1650M1600M2020M1500M1600M2100M1600M2000M2000M1600M1600M1600M1400M1400M1600M1400M2000M1450M2000M1200M1440M1600M1100M

Tom Melbourne (ire)Hill SpyHunter JackCollar (nz)Set PiecePower ReceiverAlpha AurigaSigmundYouthful KingOur Boy Nicholas

Dark MojoDarci's AffairBaby JackBaylie LouiseBinalong RoadTea ClipperTulimanJust A BlurBonfire (gb)Rock RoyaltyKurtleyZero To TenHalfway To HeavenFinishing CardSingle SpiritPlutorius (ire)San SabartoO'reilly's Revenge (nz)Fox SolidDream SpeedBettabet RedAt TwilightMr Steal (nz)Itchyzariz

Hudson CountyEgyptian RulerGreen AdventurinePajaro (nz)Danish TwistSerene MajestyWar Pig (nz)ChrysolausGhost Protocol (ire)ParaayMesseneJust A BlurPro ConsulLaugharneAlliterate

Glen BossMathew CahillYusuke IchikawaTegan HarrisonBlaike McDougallSamantha PoloChris NicollBen LookerRobert ThompsonBrenton Avdulla

Jacob GilchristBrendan WardJake DuffyBrendan WardLester GraceMegan TaylorDaniel NortheyMathew CahillBlake ShinnChris WhiteleyDarren JonesNick HeywoodKaylee KirkwoodMatthew McGurenMatthew McGurenTegan HarrisonJesse GrahamGrant BuckleyAndrew BanksRobbie FraddAlena SkerrittClaire NutmanTravis WolfgramKayla Nisbet

John KissickGreg RyanKayla NisbetTim ClarkTim ClarkKerrin McEvoyChad LeverRachael MurrayThomas HuetAndrew GibbonsBlake ShinnMathew CahillSamantha ClentonRasit YetimovaGreg Ryan

Lee & Anthony FreedmanLuke PepperTim MartinJeremy SylvesterLisa Cohen & Oldrich JirickaAndrew ParramoreNathan HobsonStephen LeeJeremy SylvesterToby Edmonds

Brett ThompsonBede MurrayBrian CoxMatthew DaleMack GriffithKerry WeirPeter NestorBarbara Joseph & Paul JonesGai WaterhouseLiam BirchleyLeon DaviesJim ScobieBob HaireShane EdmondsRoss StittJeremy SylvesterWilliam & Stafford WainBede MurrayGarry McCarneyMatthew DunnFred CowellTara & Philippe VigourouxBjorn BakerMatthew Dale

Joe ClearyKen LantryBrian AdamsPeter & Paul SnowdenKris LeesPeter & Paul SnowdenBjorn BakerJane ClementPaul PerryKris LeesMichael, Wayne & John HawkesBarbara Joseph & Paul JonesGreg BennettBrian YoungPat Farrell

VENUE

16

Feature Community Race Winners

AdaminabyBalranaldBarrabaBerriganBingaraBinnawayBombalaBraidwoodBrewarrinaBundarraCarindaCarrathoolCobarCollarenebriCoomaDeepwaterDeniliquinEnngoniaGlen InnesGrenfellGriffithGulargamboneGulgongHayHillstonHolbrookJerilderieLightning RidgeLouthMendooranMerriwaMoulameinMungindiNarrabriNarranderaNynganPooncarieSilver CityTabulamTocumwalTumbarumbaTumutTuncurry ForsterWalgettWallabadahWarialdaWentworthYoung

Abandoned

Abandoned

Abandoned

Abandoned

Abandoned

Abandoned

Abandoned

17

TRAINERJOCKEYCLASS WINNERDIST.

Chelsea McFarlaneSally SweeneyMelissa Brown

Kayla NisbetMelinda Kinny

Wayne O'ConnellTiffany Jeffries

Tiffany JeffriesJake Pracey-HolmesChelsea McFarlaneSophie YoungMatthew Milford

Jodi WorleyAnthony CavalloRebeka PrestKody NestorKody NestorMark Pegus

Nick HeywoodAndrew BloomfieldTiffany JeffriesAnthony CavalloSue BiggJackson MurphyChris Nicoll

Gemme SteeleMitchell AitkenRasit YetimovaChris NicollStacey Metcalfe

Robert BeattieBryan MurphyJohn KissickAlex Stokes

Mikayla WeirRachael MurrayStacey MetcalfeMegan Taylor

Jenny HoyCon KellyKaren Fox

Scott CollingsChris Hensler

Sandra McCormackSheree McEwan

Russell GreenBrett ThompsonLen HodgsonSue GrillsEmma Steel

Paddy CunninghamKevin HigginsGino D'AltorioPeter SinclairMichael GallagherColette Cooper

Chris HeywoodWayne CarrollPaddy CunninghamBrett ThompsonGavin GrothDamien LaneNathan Hobson

Todd PayneGraham HulmConnie GreigNathan HobsonCindy Brander

Brian CoxRodger WatersScott CollingsSteve Hodge

Michael DykesJane ClementCindy BranderKerry Weir

1400M1400M1400M1600M1300M1300M1200M1350M1200M1400M1400M1400M1700M1400M1600M1400M1400M1600M1400M2000M1350M1200M1200M1800M1700M1400M1400M1200M2000M1500M1350M1600M1400M1200M1400M1400M1550M1600M1000M1300M1400M1400M2100M1400M1500M1400M1840M1600M

OPOHORED ALMIGHTYSAMBORA ULTIMA CHANCEJAYKO

BEAUZELMORE OF THE ZAIM

WAR HORSEDARK MOJOASCIEPIUSBORDER FLIGHTDEFENCEMAN

CARRY ME GEE GEESUPREME LAIRDDEVIOUS FELLAARAWAKSPEEDY SQUIBST ANDREWS (NZ)

IMPERIOUSHEYSENDABAMIRAKDARK MOJOIMA SECRETBENCH STARALPHA AURIGA

ANCHORFELSMAKATUSFLUCTUATIONSTALISMAN CROWNHONOR THE MOMENT

CHINZIAEXCHANCELLORULTIMA CHANCEWINTER REIGN

CLASSIC ATTITUDEMEDAL OF GLORYHONOR THE MOMENTSAND DUNE (NZ)

Adaminaby CupBalranald CupBarraba CupBerrigan CupBingara CupBinnaway CupBombala CupBraidwood CupBrewarrina CupBundarra CupCarinda CupCarrathool CupCobar CupCollarenebri CupCooma CupDeepwater CupDeniliquin CupEnngonia CupGlen Innes CupGrenfell CupGriffith CupGulargambone CupGulgong CupHay CupHillston CupHolbrook CupJerilderie CupLightning Ridge CupLouth CupMendooran CupMerriwa CupMoulamein CupMungindi CupNarrabri CupNarrandera CupNyngan CupPooncarie CupSilver City CupSam Hordern Tocumwal CupTumbarumba CupTumut CupTuncurry Forster CupWalgett CupWallabadah CupWarialda CupWentworth CupYoung Cup

AbandonedAbandonedAbandoned

PROFILE OF THE CRDF BOARD

OBJECTIVESThe CRDF has a number of strategic purposes and goals including:! The preparation and implementation of effective policies conducive to strategic capital development and safety

improvements.! To foster the increased growth of regional racing in NSW through the provision of improved infrastructure and facilities.! The progressive undertaking of strategic improvements such that amenities are upgraded to the point of achieving

industry best practice.! Provision of effective leadership and professional management to ensure efficient project delivery.! To enhance the viability of thoroughbred racing generally and assist in maintaining NSW as the premier racing State.

18

Highlights of Country Racecourse Development Fund (“CRDF”) activity for the period included:! Disbursement of almost $1.4 million in payments for works in progress (excl. GST).! Approximately $1.05 million approved towards new capital development initiatives (excl. GST).! Continuation of state-wide upgrading of female jockeys' amenities.! Further acquisitions under the ongoing mobile starting barriers renewal program, plus other strategic equipment.! Implementation of new policies to:

! support improved maintenance practices;! complement operations of the Racing NSW Race Fields Legislation (RFL) Fund.

SUMMARY OF 2015-16 FINANCIAL YEAR

CRDF Repor tThe Board membership at present comprises:! The Chairman of Racing NSW Country (“RNSWC”), that being Mr Bob Pavitt;! Two other independent per sons appointed by RNSWC, that being Mr Gordon Lindley and

Mr Alan Davidson AM MBE.

Disbursements during 2015-16 were again within budget, continuing the CRDF's pattern of financial discipline. This outcome has been aided by the 2014 “Expression of Interest” process whereby clubs were invited to identify forward capital development proposals, which were then prioritised by the CRDF and procured accordingly. This enables the CRDF to more effectively schedule resources whilst also making provision for unforeseeable works which inevitably arise. Additionally, during the reporting period the CRDF remained mindful of pending expenditure in 2016-17 associated with proposed development of a raceday/function centre at Goulburn and District Race Club, and commitments were managed accordingly.

The CRDF's objectives were again greatly assisted during 2015-16 through Racing NSW's procurement of numerous significant projects financed with substantial funding made available from the Race Fields Legislation (“RFL”) capital works fund. RFL projects completed during the reporting period include:! Bathurst Thoroughbred Racing – upgrading of utility connections incl. power, water and sewerage.! Coffs Harbour RC – upgrading of course proper drainage.! Racing Orange – relocation and upgrading of sand training track.! Port Macquarie RC – full renovation of course proper including chutes, turns & racing surface; renovation of sand

training track.! Tamworth JC – re-alignment of chutes, turns and cambers to course proper; upgrading of fast work training facilities.

19

Collectively, these projects are of a scale which could not be (financially) accommodated by the CRDF without implementing strategies such as staged (progressive) funding release. However and where required, CRDF operations endeavoured to complement those of the RFL during the year, and the approval of financial assistance towards enhancement of the sand training track irrigation system at Tamworth is an excellent example of this co-operative approach. Single-sided irrigation (only) could be accommodated within the RFL budget and given the demonstrable benefits of double-sided irrigation, the CRDF provided financial assistance towards these supplementary works which added value to the finished product.

During 2015-16, the CRDF also amended funding policy to provide 50% co-contributions towards the acquisition of Verti-Drain 7521 deep tyne aerators for shared use by clubs in each Racing Association. A funding model was developed whereby custodian clubs in each Association would collectively provide 50% finance (matched by the CRDF) and a formal Deed of Agreement executed governing operation, management and maintenance of the equipment (a slightly different model has necessarily been implemented in the CDRA/WRA reflecting the scale and variance of operations in these Associations). The CRDF's position is that the requirement for an equity contribution by clubs bestows a sense of ownership in the equipment, further securing the investment. More importantly, it provides clubs with the latest technology in enabling them to undertake regular de-compaction/aeration of the racing surface which is fundamental in providing best quality product. This initiative is considered imperative following demise of the previous Turnpoint track(s) maintenance initiative.

MAJOR PROJECTS COMPLETED! Female Jockeys Amenities – to date:! The construction of new and/or upgrading of existing female jockeys' amenities has been completed at a total of thirty

four (34) country clubs as follows: Armidale, Bathurst, Berrigan (no improvements necessary), Binnaway, Brewarrina, Coonabarabran, Cootamundra, Forbes, Gilgandra, Gunnedah, Grafton, Hay, Inverell, Kempsey, Lismore, Louth, Moree, Mudgee, Murrumbidgee, Muswellbrook, Narrandera, Orange, Parkes, Queanbeyan, Quirindi, Scone, Tamworth, Tumbarumba, Tumut, Tuncurry (undertaken as part of RFL project), Walcha, Wean, Wine Country and Young.

! Financial assistance has also been approved for four (4) projects which are either underway or will shortly commence – Cowra, Deniliquin, Mendooran and Mungindi.

! With due regard to advice from the AJA, the CRDF has also identified a further two (2) projects for priority attention – Corowa and Dubbo. Construction tenders for the latter project have been complicated by statutory requirements but are imminent.

! Phase 3 of the state-wide swab box/vet room upgrading program is substantially completed.! Two (2) further acquisitions of new mobile starting barriers were completed under the ongoing equipment upgrading

program – Port Macquarie RC and Tamworth JC. Again and as noted above, provision of new equipment at both venues was seen by the CRDF as adding-value to newly-completed RFL-funded track redevelopment works. Ongoing analysis of the current status of starting barriers reveals that the following statistics:! average age of barriers at all 17 Category “A” clubs continues to decrease and is now approximately 7.5 years

(compared with an average age of approx. 8 years in 2015);! of these 17 clubs, 9 are in possession of barriers <6 years old.

®! A total of six (6-off) Verti-Drain deep tyne aerators have now been acquired (one each in the SERA, H&NWRA, NRRA, MNCRA, SDRA and CDRA/WRA). These units are replacements for the largely-defunct Soil Relievers purchased many years ago and also fill the void arising from cessation of the Turnpoint track(s) maintenance program. The Verti-Drains® have initially been strategically assigned for shared use between top-tier Regional Clubs, with further acquisitions to be contemplated as resources permit.

20

CRDF Repor t

MAJOR PROJECTS DURING 2016-17

The CRDF's single largest project in 2016-17 will be commencement of a new raceday/function complex at the Goulburn Racecourse. A submission has been lodged with Council for (DA) approval, following which detailed design documentation will be finalised and construction tenders called. The new complex will generally be consistent in scale with a similar project completed in recent years at Tamworth which has proven highly successful. A flexible function space as well as new food, beverage, tote & toilet amenities will enable the club to better accommodate racegoers but equally importantly, facilitate the conduct of non-core commercial functions and the associated capture of additional non-raceday revenue streams. In this latter regard, existing competitors in the local marketplace have been examined in developing a design concept which differentiates the club's offering.

It is envisaged that a second “Expression of Interest” process will commence in 2016-17 whereby all race clubs will (again) be invited to submit preliminary proposals of capital development for consideration by the CRDF. Thereafter, procurement of those proposals shortlisted by the CRDF Board will commence on a prioritised basis. This initiative underlines the CRDF's commitment to stakeholder consultation and provides ongoing opportunities for clubs to seek funding for capital development works which may have arisen since the previous EoI process.

The Regional Racecourse Managers Seminars for Country TAB clubs will continue in 2016-17 to ensure that clubs are equipped with up-to-date topsoil and water test results, plus relevant expert guidance in developing their track maintenance programs. Mr David Hodgson (RNSW Racecourse Maintenance Manager) will again be heavily involved in the delivery of these presentations.

A further series of State-wide Work Health & Safety (“WHS”) workshops will be convened in 2016-17 to ensure that all clubs are equipped with the necessary skills to utilise the Online WHS Management System and/or WHS Kit which have been rolled-out across all NSW race clubs. Although not directly related to CRDF core operations, this initiative provides refresher training for existing club staff (plus instruction for new entrants to the industry) and seeks to ensure that all clubs can meet their WHS obligations in the simplest manner possible. The retention of Online Compliance Systems (RNSW's WHS Contractor) provides a further layer of ongoing support for clubs.

Collectively, these initiatives underscore the CRDF's evolutionary role(s) in providing “value-adding” training and support for clubs as well as enabling clubs in the management and maintenance of racecourse assets, in addition to the Fund's core function of delivering capital improvements.

The CRDF Board acknowledge the valuable input provided by Andrew Small and Dave Hodgson who again throughout the course of this year have provided clubs with advice and assistance in the implementation and completion of numerous projects.

Finally the impact of Racing NSW Race Fields Legislation funded projects is also acknowledged. RFL funding has allowed the CRDF to focus on expanding the scope of projects, many of which would not have been possible previously.

MAJOR PROJECTS IN PROGRESS! Female Jockeys' Amenities – ongoing design development/documentation & tendering of projects (at prioritised clubs).! Swab box/vet rooms – phase 4 of the state-wide upgrading program currently being conceived.! Starting barriers renewal program – ongoing.! Goulburn & District Racing Club – design development of proposed new raceday/function building.

FINANCIAL STATEMENTS

Note 2015$

STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVEINCOME FOR THE YEAR ENDED 30TH JUNE, 2016

22

RACING NSW COUNTRY LTDACN 075 186 873

2016$

REVENUE

Revenue 5 76,461,456 76,376,732Total Revenue 76,461,456 76,376,732

Payments to race clubs under the Scheme of Distribution 57,464,015 57,196,144Administration 6 820,309 882,922Race meeting and racing expenses 6 13,513,988 14,103,470Marketing programs 44,760 43,200Racecourse development grants 1,343,855 2,002,277Total Expenditure 73,186,927 74,228,013

Profit before Income Tax 3,274,529 2,148,719

Income tax expense 2 - -

Profit attributable to members of Racing NSW Country Ltd 3,274,529 2,148,719

Other comprehensive income - -

Total comprehensive income attributable to the members of Racing NSW Country Ltd 3,274,529 2,148,719

EXPENDITURE

STATEMENT OF FINANCIAL POSITIONAS AT 30TH JUNE, 2016

RACING NSW COUNTRY LTDACN 075 186 873

Note 2015$

2016$

RACING NSW COUNTRY LTDACN 075 186 873

STATEMENTS OF CHANGES IN EQUITYFOR THE YEAR ENDED 30TH JUNE, 2016

910

11

1213

13

141415

Current AssetsCash and cash equivalentsTrade and other receivablesTotal Current Assets

Non-Current AssetsPlant & equipmentTotal Non-Current AssetsTotal Assets

Current LiabilitiesTrade and other payablesProvisionsTotal Current Liabilities

Non Current LiabilitiesProvisionsTotal Non-Current Liabilities

Total Liabilities

Net Assets

EquityRacecourse development reserveFuture development reserveRetained earningsTotal Equity

The statement of financial position should be read in conjunction with the accompanying notes.

3,844,01214,875,714

18,719,726

18,24818,248

18,737,974

8,508,18184,133

8,592,314

38,97238,972

8,631,286

10,106,688

2,035,4591,247,0366,824,193

10,106,688

2,279,60214,724,711

17,004,313

13,64813,648

17,017,961

3,524,73678,005

3,602,741

34,00334,003

3,636,744

13,381,217

2,691,6041,202,2769,487,337

13,381,217

Retained Earnings

Racecourse

Development Reserve

TotalEquity

$ $

FutureDevelopment

Reserve

$ $

The statement of changes in equity should be read in conjunction with the accompanying notes.

23

4,629,997 2,037,736 1,290,236 7,957,969

2,148,719 - - 2,148,719

45,477 (2,277) (43,200) -

6,824,193 2,035,459 1,247,036 10,106,688

3,274,529 - - 3,274,529

(611,385) 656,145 (44,760) -

Balance at 30 June 2014

Total comprehensive income for the year

Transfers from/(to) reserves

Balance at 30 June 2015

Total comprehensive income for the year

Transfers from/(to) reserves

Balance at 30 June 2016 9,487,337 2,691,604 1,202,276 13,381,217

RACING NSW COUNTRY LTDACN 075 186 873

STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 30TH JUNE, 2016

24

Note 2015$

2016$

The statement of cash flows should be read in conjunction with the accompanying notes.

CASH FLOW FROM OPERATING ACTIVITIESReceipts from Racingcorp Pty LtdReceipts from customersReceipts from Racing NSWInterest received

Payments to race clubs under the Scheme of DistributionPayments to race clubs for racecourse developmentPayments to suppliers and employeesNet Cash provided/(used) by operating activities 8

CASH FLOW FROM INVESTING ACTIVITIES

Payments for purchase of plant & equipmentNet Cash used by investing activities

Net (decrease)/increase in cash and cash equivalentsCash and cash equivalents at the beginning of the financial year

Cash and cash equivalents at the end of the financial year 9

45,762,767 44,544,8718,956,538

29,462,868 29,525,23869,481

(63,210,417) (62,832,818) (1,478,240) (2,202,232)

(21,126,025) (13,434,371) (1,563,028) 2,675,954

(1,382)

(1,382)

(1,564,410) 3,844,012

2,279,602 3,844,012

6,997,518

77,748

- -

2,675,9541,168,059

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

25

NOTE 1: STATEMENT OF ACCOUNTING POLICIES

a) Introduction

This financial report is for Racing NSW Country Ltd as an individual company. The company is limited by guarantee and is incorporated and domiciled in Australia. Its registered office and principle place of business is Level 7, 51 Druitt St Sydney NSW.

"A description of the nature of the company's operations and principal activities is included on page 1 of the directors report. "

The financial report was authorised for issue by the directors on the 29 September 2016. The company has the power to amend and reissue this financial report.

b) Basis of preparation

The principal accounting policies adopted in the preparation of the financial report are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

The financial report is a general purpose financial report which has been prepared in accordance with Australian A c c o u n t i n g S t a n d a r d s , o t h e r a u t h o r i t a t i v e pronouncements of the Australian Accounting Standards Board, Interpretations and the Corporations Act 2001, as appropriate for not-for profit orientated entities. These financial statements also comply with International Reporting Standards as issued by the International Accounting Standards Board ("IASB").

The report is prepared on an accruals basis and is based on historical costs and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in exchange for assets. The financial report is presented in Australian dollars which is the company's functional and presentational currency.

c) Plant and equipment

Each class of plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment.

"At each reporting date, the directors review a number of factors affecting plant and equipment, including their carrying values, to determine which of these assets, grouped into cash-generating units, may be impaired. If impairment indicators exist, the recoverable amount of the assets, being the higher of the assets; "fair value less costs to sell" and "value in use", are compared to the carrying values. Any excess of the assets' carrying value over their recoverable amount is expensed in the statement of profit or loss and other comprehensive income as an impairment expense.

Depreciation

The depreciable amount of all plant and equipment is calculated on a straight line basis over their estimated useful lives as follows:

Plant & Equipment 5 years

The asset's residual values and useful lives are reviewed, and adjusted if appropriate, at each balance date.

An asset's carrying amount is written down immediately to its recoverable amount if the assets carrying amount is greater than its estimated recoverable amount. Gains and losses on disposal are determined by comparing proceeds with the carrying amount. These gains or losses are included in the statement of comprehensive income.

d) Trade receivables

Trade receivables are recognised initially at fair value and subsequently measured at amortised cost, less provision for doubtful debts. Trade receivables are due for settlement no more than 30 days from the date of recognition.

Collectability of trade receivables is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. A provision for doubtful receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. Cash flows relating to short term receivables are not discounted if the effect of discounting is immaterial. The amount of the provision is recognised in the statement of profit or loss and other comprehensive income.

Amounts receivable from Racingcorp Pty Ltd are receivable as follows:

Quarterly product fee –Three working days from the end of each quarter

Wagering incentive fee – 20 working days from the end of each six-month period ended December and June.

e) Investments and other financial assets

The company classifies its financial assets in respect of loans to race clubs as ‘loans and receivables’.

Loans and receivables are non derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the company provides money, goods or services directly to a debtor with no intention of selling the receivable.

They are included in current assets, except for those with maturities greater than 12 months after the balance date which are classified as non current assets. Loans and receivables are included in Trade and Other Receivables in the statement of financial position (note 10).

Regular purchases and sales of financial assets are recognised on trade date, the date on which the company commits to purchase or sell the asset. Financial assets are initially recognised at fair value plus transaction costs for all loans and receivables. Investments are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the company has transferred substantially all the risks and rewards of ownership.

Loans and receivables are carried at amortised cost using the effective interest method.

The company assesses at each balance date whether there is objective evidence that a financial asset or group of financial assets is impaired.

f) Cash and cash equivalents

For the purposes of the Statement of Cash Flows, cash and cash equivalents includes cash on hand and at bank, deposits held at call with financial institutions, other short term, highly liquid investments with maturities of three months or less, that are readily convertible to known amounts of cash and which are subject to insignificant risk of changes in value and bank overdrafts.

g) Employee benefits

Provision is made for the company’s liability for employee benefits arising from services rendered by employees to balance date. Employee benefits expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled, plus related on-costs. Other employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. Contributions are made by the company to accumulation employee superannuation funds and are charged as expenses when incurred.

h) Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are net of returns, trade allowances and amounts collected on behalf of third parties. Revenue is recognised for the major business activities as follows:

(i) Distributions pursuant to the Racing Distribution Agreement

Revenue is recognised upon delivery of service to customers.

(ii) Television broadcast royalty

Revenue from television broadcast is recognised upon delivery of service to customers.

(iii) Administration charge funding

Administration charge funding is recognised as revenue on receipt of the funding.

(iv) Interest

Interest revenue is recognised on a time proportion basis using the effective interest method.

(v) Sponsorship

Sponsorship revenue is recognised over the period to which the sponsorship relates.

(vi) Other Revenues

Totalizator commissions from non-TAB meetings, distribution from Racing NSW surpluses and other miscellaneous revenue items are recognised when received.

i) Trade and other payables

These amounts represent liabilities for goods and services provided to the company prior to the end of the financial year and which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition.

j) Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. Trade receivables and trade payables in the Statement of Financial Position are shown inclusive of GST.

k) Critical accounting estimates and judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that may have a financial impact on the company and that are believed to be reasonable under the circumstances.

An accounting estimate is recognised with respect to reserves put aside for racecourse developments. The amount of the reserves is based on historical experience and takes into account future planned racecourse developments. Refer to Note 14(b) for further information on reserves.

l) New accounting standards and interpretations not yet mandatory or early adopted

Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet mandatory, have not been early adopted by the company for the annual reporting period ended 30 June 2016. The company has not yet assessed the impact of these new or amended Accounting Standards and Interpretations.

NOTE 2: INCOME TAX

The company is a not-for-profit organisation established for the promotion of thoroughbred racing in country NSW and is exempt from income tax pursuant to the provisions of Section 50-45 of the Income Tax Assessment Act (1997).

NOTE 3: ECONOMIC DEPENDENCY

The company received approximately 55% of its total income from Racingcorp Pty Ltd under the Racing Distr ibution Agreement with TABCORP Ltd. This represents the distribution of wagering receipts governed by this agreement. Consequently, the company is economically dependent on TABCORP Ltd.

NOTE 4: SEGMENT REPORTING

The company operates solely in the thoroughbred racing industry and derives all its income and incurs all expenses in that industry.

26

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

27

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

2015$

2016$

2015$

2016$

2015$

2016$

NSW Racing distributions pursuant to Racing Distribution Agreement 42,270,547 42,010,633Television Broadcast Royalty 3,501,800 3,276,057Administration Charge Funding 1,112,326 1,095,888Sponsorship - - Interest 69,481 77,748Distribution from Racing NSW 26,784,425 26,841,125PGI Product Fees 2,312,523 1,914,515Racing Revenues 410,352 1,160,767Total Revenue from Continuing Operations 76,461,456 76,376,732

NOTE 6: EXPENSESProfit/Loss before income tax includes the following specific expenses:

a) ExpensesDepreciation of non-current assets - plant and equipment 5,856 6,145Total Depreciation 5,856 6,145

b) Employee benefits expense 920,259 953,172c) Superannuation expense 40,150 86,316

NOTE 7: AUDITORS REMUNERATION

Assurance Services- Audit of financial statements under the Corporations Act 2001 29,500 29,000Total auditors remuneration 29,500 29,000

During the year the following fees were paid or payable for services provided by the auditor of the company.

NOTE 5: REVENUE

28

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

2015$

2016$

2015$

2016$

2015$

2016$

NOTE 8: RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO OPERATING PROFIT/(LOSS) AFTER INCOME TAXReconciliation of Cash Flows from Operating ActivitiesOperating Profit after income tax 3,274,529 2,148,719Depreciation of plant & equipment 5,856 6,145Increase in plant & equipment 126 - Decrease/(Increase) in receivables 151,003 (2,750,737) (Decrease)/increase in payables (4,983,445) 3,270,507(Decrease)/Increase in provisions (11,097) 1,320Cash Flows from Operating Activities (1,563,028) 2,675,954

Credit Stand-by Arrangements and Loan FacilitiesThere are no credit stand-by arrangements or loan facilities as at 30 June 2016; (2015:Nil)

NOTE 9: CASH AND CASH EQUIVALENTS - CURRENT

Cash at Bank 2,279,602 3,844,012Total Cash and Cash equivalents 2,279,602 3,844,012

The cash at bank bears interest at a floating rate of 2.0% (2015: 2.5%).

NOTE 10: TRADE AND OTHER RECEIVABLES - CURRENT

Racingcorp Pty Ltd 14,048,231 13,313,397Trade and other receivables 234,013 422,022Racing NSW Loan Account 442,467 1,140,295Total trade and other receivables 14,724,711 14,875,714

a) Fair Values The fair values of non-current receivables of the company approximate their carrying values. b) Interest Rate Risk The receivables of the company are non-interest bearing. Therefore the company is not exposed to interest rate risk. c) Credit Risk Except for the concentration of credit risk to Racingcorp Pty Ltd the company does not have any material credit risk exposure to any single group of receivables.

29

RACING NSW COUNTRY LTDACN 075 186 873

Past due but not impaired

Past due but not impaired

Within initialtrade terms

$

Within initialtrade terms

$

2016

2015

(days overdue)

(days overdue)

<30

<30

31-60

31-60

61-90

61-90

> 90

> 90

Gross amount

Gross amount

$

$

$

$

$

$

$

$

$

$

$

$

Past due

Past due

and impaired

and impaired

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

NOTE 10: TRADE AND OTHER RECEIVABLES - CURRENT (cont.)

The following table details the company's receivables exposed to credit risk with ageing analysis and impairment provided thereon. Amounts are considered as 'past due' when the debt has not been settled within the terms and conditions agreed between the company and the counterparty to the transaction. Receivables that are past due are assessed for impairment by ascertaining solvency of the debtors and are provided for where there are specific circumstances indicating that the debt may not be fully repaid to the company. The balances of receivables that remain within initial trade terms (as detailed in the table) are considered to be of high credit quality.

2015$

2016$

Term receivables 234,013 - - - -Other receivables 14,490,698 - - - -

Total 14,724,711 - - - -

25,000 209,013- 14,490,698

25,000 14,699,711

Term receivables 422,022 - - - - Other receivables 14,453,692 - - - -

Total 14,875,714 - - - -

25,000 397,022- 14,453,692

25,000 14,850,714

NOTE 11: PLANT & EQUIPMENT - NON CURRENT

a) Details of Carrying AmountsPlant & EquipmentPlant & equipment at cost 127,816 126,560less: Accumulated depreciation (114,169) (108,312) Total Plant & Equipment 13,648 18,248

b) Movements in carrying amounts

Plant & EquipmentCarrying amount at beginning of the year 18,248 24,393 Additions 1,256 - Depreciation expense (5,856) (6,145) Carrying amount at the end of the year 13,648 18,248

2015$

2016$

NOTE 12: TRADE AND OTHER PAYABLES - CURRENTTrade payables 233,359 961,986Sundry payables 597,496 670,074Payable to Racing NSW 2,693,881 6,876,121Total trade and other payables 3,524,736 8,508,181

2016$

30

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

2015$

2016$

2015$

Note

NOTE 13: PROVISIONS

Current LiabilitiesEmployee Benefits - Long service leave 66,022 61,315Employee Benefits - Annual leave 11,983 22,818

78,005 84,133Non-Current LiabilitiesEmployee Benefits - Long service leave 34,003 38,972Total Provisions 112,008 123,105

NOTE 14: RESERVES

ReservesCountry Racecourse Development Reserve 2,691,604 2,035,459Future Development Reserve 1,202,276 1,247,036Total Reserves 3,893,880 3,282,495

(a) Movement in ReservesRacecourse Development ReserveBalance at the beginning of the year 2,035,459 2,037,736Transfers from/(to) retained earnings 15 656,145 (2,277) Balance of reserve at the end of the year 2,691,604 2,035,459

Future Development ReserveBalance at the beginning of the year 1,247,036 1,290,236Transfers (to)/from retained earnings 15 (44,760) (43,200) Balance of reserve at the end of the year 1,202,276 1,247,036

Total Reserves 3,893,880 3,282,495

The following reserves have been set aside in accordance with resolution of the Racing NSW Country Board and are commitments to expend funds in the manner outlined below.

(b) Nature and purpose of reservesRacecourse Development Reserve The Country Racecourse Development Reserve represents reserves retained by the company on behalf of the country segment of the industry and is set aside to fund the development of facilities of country racecourses. It is the strict intention of the company to fully expend the balance of the Country Racecourse Development Reserve for the purpose for which it was established. Amounts set aside in the reserve will not be used by the company for any purpose other than development of country racecourses. Additionally, the company intends adding to the reserve in coming financial years to provide further reserves for the development of country racecourses.

31

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

Within One Year Later than One Year butnot later than Five Years

$ $

2015$

2016$

NOTE 14: RESERVES (continued)

Expenses are recognised when work is completed or stages of work are completed. Determination as to which projects to fund, is made on resolution of the Committee of the Country Racecourse Development Fund. Based on these resolutions, the company has planned for expenditure on major projects with estimated commitments, exclusive of GST as follows:

All Associations - New mobile starting barriersAll Associations - New swabbing facilitiesAll Associations - Female jockeys amenities upgradesAll Associations - Irrigation upgrading worksGoulburn & District Race Club - Facilities expansionMuswellbrook Race Club - Facilities expansionAlbury Racing Club - Irrigation All Associations - Other

250,000 200,000 400,000 400,000 500,000 250,000 350,000 250,000

2,600,000

1,000,000 500,000

1,000,000 2,000,000

900,000 250,000

- 450,000

6,100,000

During the period the movement in the Racecourse Development Reserve relates to expenditure of reserves of $1,343,855 on country racecourse developments and an annual replenishment of $2,000,000 to cover planned projects of $2,600,000 committed to within the next 12 months. The balance of the reserve as at 30 June 2016 of $2,691,604 is suffiicient to meet the planned expenditure on major projects within the next year of $2,600,000.

The Future Development Reserve The Future Development Reserve represents reserves retained by the company on behalf of the country segment of the industry and is set aside to fund future expenditure programs of strategic significance to country racing. It is the strict intention of the company to fully expend the balance of the Future Development Reserve for the purpose for which it was established. Amounts set aside in the reserve will not be used by the company for any purpose other than the strategic development of country racing in NSW. Expenses are recognised on the completion of work. Determination as to which projects to fund, is made on resolution of the Board of Directors. Based on these resolutions, the company has plans, but has not contracted for, expenditure on major projects with estimated commitments, exclusive of GST as follows:

NOTE 15: RETAINED EARNINGS

Strategic Project Implementation 500,000 700,000

Within One Year Later than One Year butnot later than Five Years

$ $

Retained EarningsRetained earnings at the beginning of the financial year 6,824,193 4,629,997Net profit attributable to members of the company 3,274,529 2,148,719Transfers (to)/from reserves - Racecourse Development Reserve (656,145) 2,277 - Future Development Reserve 44,760 43,200Retained profits at the end of the financial year 9,487,337 6,824,193

32

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

NOTE 16: MEMBERS LIABILITYThe company is limited by guarantee. If the company is wound up, the Articles of Association state that each member of the company is required to contribute a maximum of $10 each toward meeting any outstanding obligations of the company.

NOTE 17: GUARANTEESThe company has entered into no guarantees as at the year end (2015:Nil).

NOTE 18: KEY MANAGEMENT PERSONNEL(a) DirectorsThe following persons were directors of the company during the financial year:Mr Bob Pavitt (Chairman) Mr Rod WattMr Michael Inglis Mr Greg Delaforce Mr Michael Kennedy Mr Les Maley OAMMr Michael Martin Mr Max WalkerMr David Ringland Mr Terry ByeOther than the Chairman who receives an honorarium of $39,000 pa; (2015:$39,000), directors received no remuneration from the company during the year (2015:Nil).

(b) Other key management personnelThe following persons also had authority and responsibility for planning, directing and controlling the activities of the company, directly or indirectly during the financial year:

Name Position Employer

Brian JuddPaul WeekesScott KennedyShane MeaneyAndrew Small

Racing NSW CountryRacing NSW CountryRacing NSWRacing NSWRacing NSW

Chief Executive (Retired Dec 2015)Chief Executive (Appt Dec 2015)General Manager – Analytical/IndustryRacing ManagerProjects Manager

20152016 (c) Key management personnel compensation

Short-term Employee BenefitsPost Employment BenefitsTotal

NOTE 19: RELATED PARTY DISCLOSURES

Transactions with Other Related Parties During the year ended 30 June 2016, the company engaged in the following transactions with other entities involved in the racing industry:

Racingcorp Pty LtdReceived as revenue $42,270,547 (2015: $42,010,633) being the total fees due to the company under the Racing Distribution Agreement, Inter-Code Deed and Thoroughbred Racing Intra-Code Deed. At 30 June 2016 the company had a receivable of $14,048,231 (2015: $13,313,266) from Racingcorp Pty Ltd arising from the Racing Distribution Agreement and Inter-Code Deed and Thoroughbred Racing Intra-Code Deed.

Racing NSWReceived as revenue $1,112,326 (2015: $1,095,888) as an administration subsidy in accordance with clause 14.9 of the Intra-code Deed.Paid as expenses $558,905 (2015: $550,645 being the employment costs of race stewards employed by Racing NSW who worked on country race meetings, other than Chairmen of Stewards for regional racing associations. Paid as expenses $250,664 (2015: $246,960) being an agreed fee for the provision of administrative services. Paid as expenses $215,936 (2015: $216,042) being for racing services provided through Racing NSW’s agreement with its associate Racing Information Services Australia for the Trainers Services Centre. At 30 June 2016 an amount of $2,693,881 was payable to Racing NSW (2015: $6,876,121 payable). At 30 June 2016 an amount of $442,467 was receivable from Racing NSW (2015: $1,140,295 receivable).

247,235 340,31219,782 25,041

267,017 365,353

33

RACING NSW COUNTRY LTDACN 075 186 873

NOTES TO AND FORMING PART OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2016

2015$

2016$

NOTE 20: RISK MANAGEMENT POLICIES AND OBJECTIVESActivities undertaken by the company may expose it to credit risk, economic dependency risk and interest rate risk. The company’s risk management policies and objectives are therefore designed to minimise the potential impacts of these risks on the financial performance of the company where such impacts may be material. The totals for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements are as follows:

Financial assetsCash and cash equivalents 9

Trade and other receivables 10

Financial liabilitiesTrade and other payables 12

Credit riskThe maximum exposure to credit risk, excluding the value of any collateral or other security, at reporting date to recognised financial assets is the carrying amount, net of any provisions for doubtful debts of those assets, as disclosed in the Statement of Financial Position and notes to the financial statements. The company has credit risk exposure to TABCORP Ltd and Racingcorp Pty Ltd.

Liquidity riskVigilant liquidity risk management requires the company to maintain sufficient liquid assets (mainly cash and cash equivalents) to be able to pay debts as and when they become due and payable. Racing NSW Country Ltd manages its liquidity risk by ensuring that all receivables are repaid on a timely basis as and when they fall due. In addition Racing NSW Country Ltd relies on funding provided by Racing NSW for payment of operational expenses.

Economic Dependency RiskThe company is dependent on distributions pursuant to the Racing Distribution Agreement. This distribution is governed by the NSW Racing Distribution Agreement as entered into by Racingcorp Pty Ltd and TABCORP Ltd. Consequently, Racing NSW Country is economically dependent on TABCORP Ltd.

Borrowings and Interest RiskThe company has no borrowings at 30 June 2016; (30 June 2015: Nil)

Racingcorp Pty LtdTrade and other receivables

Objectives and Policies Process for Managing the Risk

Methods used to Measure the Risk

Policies require that Cash at Bank and Term Deposits be placed with major banks.

Individual debtors are small in number and assessed as to likely recovery prior to advancing credit.

Racing NSW Country's major sources of revenue are from TABCORP. The company is satisfied with TABCORP's credit worthiness given the long term strength of its operationand the fact that its wagering operation is predominatly a cash business.

No changes are made to investmentpolicy without Board approval.

Debtors are reviewed on an ongoing basis depending on type of debt. Collectability is assessed on a regularbasis.

Reporting requirements of TABCORP to the racing industry.

The holdings and performance of Cash at Bank and Term Deposits are reported to the Board. Debtors are reviewed on a regular basis.

The Racing Distribution Agreement, Inter-Code Deed and the Intra-Code Deed.

Note

2,279,602 3,844,01214,724,711 14,875,714

17,004,313 18,719,726

3,524,736 8,508,181

3,524,736 8,508,181

14,048,231 13,313,397234,013 422,022

14,282,244 13,735,419

34

DIRECTORS DECLARATION The Directors of Racing NSW Country Ltd declare that: In the director’s opinion (i)   the attached financial statements and notes comply with the Corporations Act

2001, the Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements;

(ii) the attached financial statements and notes comply with International Reporting Standards as issued by the International Accounting Standards Board as described in note 1 to the financial statements.

(iii) the attached financial statements and notes thereto give a true and fair view of the company's financial position as at 30 June 2016 and its performance for the financial year ended on that date and;

(iv) there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

Signed in accordance with a resolution of directors made pursuant to section 295(5)(a) of the Corporations Act 2001 On behalf of the directors

Bob Pavitt Michael InglisChairman Deputy Chairman

Signed at Sydney this 29th day of September 2016.

RACING NSW COUNTRY LTDACN 075 186 873 DECLARATION BY DIRECTORS

35

RACING NSW COUNTRY LTDACN 075 186 873 DIRECTORS REPORT

The directors present their report on the company for the financial year ended 30 June 2016.

Directors in office at any time during the whole of the financial year and up to the date of this report are:

PRINCIPAL ACTIVITIES

During the financial year the principal continuing activities of the company were:

Promoting the participation in country racing of all stakeholders;

Ÿ Responsibility for the conduct, planning, management and development of country racing;

Ÿ Recommending and advising on country racing matters; and

Ÿ Providing common services and organisation structures.

There has been no change in the principal activities during the year.

PERFORMANCE MEASUREMENT

The profit of the company for the financial year was $3,274, 529 (2015: $2,148,719 profit).

A review of the operations of the company during the financial year and the results of those are as follows:

- The result of the company was in line with expectations.

- The Company received additional payments from Racing NSW of $26,784,425 (2015: $26,841,125).

- The number of race meetings held in 2015/16 was 463, a decrease from 479 in 2014/15. The number of TAB meetings held in 2015/16 was 370, a decrease from 379 in 2014/15. Of these, 62 were conducted on Saturdays during 2015/16, 5 less than in 2014/15. The number of community meetings held was 93 in 2015/16, 7 less than in 2014/15.

- Revenue from Tabcorp/Racingcorp increased by $259,914 to $42,270,547 in 2015/16 from $42,010,633 in 2014/15.

- Total payments to race clubs through the Scheme of Distribution (excluding Feature Race Subsidy payments) remained steady at $56,049,015 in 2015/16 compared to $56,056,144 in 2014/15.

- $515,000 was paid during 2015/16 to Clubs in Feature Race Subsidy payments for selected meetings, an increase from $510,000 paid to Clubs in 2014/15.

- Race meeting and racing expenses payments decreased by 4.18% or $589,482 to $13,513,988 in 2015/16.

- Administrative expenditure decreased to $820,309 in 2015/16

from $882,922 in 2014/15.

- Grants made to race clubs from the Country Racecourse Development Reserve decreased to $1,343,855 in 2015/16 from $2,002,277 in 2014/15.

- An amount of $2,312,523 was received from Racing NSW in relation to PGI Product fees during 2015/16 (2015: $1,914,515).

- No other significant variations in activities occurred during the year.

SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS

There were no significant changes in the state of affairs of the company.

MATTERS SUBSEQUENT TO THE END OF THE YEAR

The directors know of no matter that has arisen since the balance date that has significantly affected or may significantly affect the operations, results or state of affairs of the company in future financial years other than those disclosed.

ENVIRONMENTAL REGULATION

The company's operations are not regulated by any significant environmental regulation under a law of the Commonwealth or a State or Territory.

SHORT AND LONG TERM OBJECTIVES

The budgeted income of Racing NSW Country for 2016/17 will include a distribution from Racing NSW of $39,758,988 (2016:$25,884,425) that will enable minimum TAB prizemoney to be maintained throughout the financial year. The budgeted income will also include a further distribution from Racing NSW in relation to PGI Product Fees of $2,200,000 (2015: $2,312,523).

From 1 July 2016, the minimum prizemoney levels for TAB racing will increase to $20,000 per race (previously $15,000). From 1 October 2016 the minimum prizemoney for Sky 2 racing will increase to $10,000 per race (previously $8,000). The minimum prizemoney for community/Non TAB racing will remain at $6,000 per race.

Mr Bob Pavitt (Chairman)Consultant. Aged 68.Member of the Executive Sub-committee. President of the Northern Rivers Racing Association.

Mr Michael Inglis (Deputy Chairman)Barrister. Aged 66Member of the Executive Sub-committee. Member of the Southern Districts Racing Association

Mr Michael Martin Businessman. Aged 54.President of the South East Racing Association.

Mr Greg DelaforceBusinessman. Aged 64. Member of the Mid North Coast Racing Association.

Mr Michael Kennedy Grazier. Aged 66.Member of the Western Racing Association.

Mr David RinglandRetired. Aged 64.President of the Central Districts Racing Association.

Mr Rod Watt Solicitor. Aged 65.President of the Hunter & North West Racing Association.

Mr Terry ByeRetired. Aged 64.President of the Central Districts Racing Association.

Mr Max WalkerBusinessman. Aged 62.President of the Central Districts Racing Association.

Mr Les Maley OAM Retired. Aged 78.President of the South East Racing Association.

36

RACING NSW COUNTRY LTDACN 075 186 873 DIRECTORS REPORT

STRATEGIES FOR ACHIEVING OBJECTIVES

In terms of strategies for achieving these objectives Racing NSW Country will

- Maximise potential revenue streams from broadcast and media rights and sponsorship

- Maximise potential revenue from Racing NSW and Racingcorp

- Ensure race programming is structured such that clubs within the Country sector are afforded all opportunities to maximise revenue and TAB turnover

- Conduct ongoing review of operational, administrative and racing expenses.

MEMBER CONTRIBUTIONS ON WINDING UP

The company is limited by guarantee. If the company is wound up, the Articles of Association state that each member of the company is required to contribute a maximum of $10 each toward meeting any outstanding obligations of the company.

MEETINGS OF DIRECTORS

The number of meetings of the company's Board of Directors held during the year ended 30 June 2015, and the number of meetings attended by each director were:

HELD: represents the number of meetings held during the time the director held office or was a member of the Board.

Bob PavittChairman

Signed at Sydney this 29th day of September 2016.

Michael InglisDeputy-Chairman

Signed in accordance with a resolution of the Board of Directors, pursuant to section 298(2)(a) of theCorporations Act 2001.

AUDITORS' INDEPENDENCE DECLARATIONA copy of the auditors' independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 38.

Held AttendedName

Mr Bob Pavitt (Chairman)Mr Michael InglisMr Greg Delaforce Mr Michael KennedyMr Terry Bye Mr David RinglandMr Rod WattMr Michael MartinMr Max WalkerMr Les Maley OAM

6666116422

6655106422

37

RACING NSW COUNTRY LTDACN 075 186 873 DECLARATION BY AUDITORS

INDEPENDENT AUDITOR’S REPORTTo the members of Racing NSW Country Ltd

Report on the Financial ReportWe have audited the accompanying financial report of Racing NSW Country Ltd, which comprises the statement of financial position as at 30 June 2016, the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors' declaration.

Directors' Responsibility for the Financial ReportThe directors of the company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In Note 1(b), the directors also state, in accordance with Accounting Standard AASB 101 Presentation of Financial Statements, that the financial statements comply with International Financial Reporting Standards.

Auditor's ResponsibilityOur responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor's judgement, including the assessment

of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company's preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

IndependenceIn conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of Racing NSW Country Ltd, would be in the same terms if given to the directors as at the time of this auditor's report.

OpinionIn our opinion:(a) the financial report of Racing NSW Country Ltd is

in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the company's financial position as at 30 June 2016 and of its performance for the year ended on that date; and

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

(b)the financial report also complies with International Financial Reporting Standards as disclosed in Note 1(b).

Sydney, 29 September 2016

Paul CheesemanPartner

38

RACING NSW COUNTRY LTDACN 075 186 873 INDEPENDENCE DECLARATION BY AUDITORS

Sydney, 29 September 2016

DECLARATION OF INDEPENDENCE BY PAUL CHEESEMAN TO THE DIRECTORSOF RACING NSW COUNTRY LTD

As lead auditor of Racing NSW Country Ltd for the year ended 30 June 2016, I declare that, to the bestof my knowledge and belief, there have been:

• No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and

• No contraventions of any applicable code of professional conduct in relation to the audit.

Paul CheesemanPartner

APPENDICES

40

No. Meetings

Append ix 1

Club Performance Comparisons

Venue

11715142192--11-111-4

251

20113317412

13-261

17111156111516

Adaminaby Albury Armidale Ballina Balranald Barraba Bathurst Berrigan Bingara Binnaway Bombala Braidwood Brewarrina Broken Hill Bundarra Carinda And Carrathool Casino Clarence River Cobar Miners Coff's Harbour Collarenebri Cooma-Monaro Coonabarabran Coonamble Cootamundra Corowa Cowra Deepwater Deniliquin Dubbo Enngonia Forbes Gilgandra Glen Innes Goulburn Grenfell Griffith Gulgargambone Gulgong Gundagai-Adelong Gunnedah Hay Hillston Holbrook Inverell Jerilderie Kempsey

33,9982,017,4861,598,2431,765,712

65,78932,425

1,142,26666,1085,0005,000

32,43336,2485,000

57,27133,55033,7755,000

290,3623,563,858

33,2782,547,839

30,99536,894

126,286339,134160,635634,460399,35233,32562,337

1,720,3555,000

198,375469,28059,529

2,337,87232,34934,26932,35634,171

578,681712,82334,06316,87540,775

283,21134,483

553,736

-111,92553,064

115,9201,150

69063,42011,098

--

1,32311,788

-2,760

-920

-27,711

220,0805,923

144,480230

2,9907,993

22,6806,095

21,21331,780

-1,035

176,853-

16,2167,2456,268

139,580-

5,233-

30,59123,10039,6081,725

--

54,32415,00835,934

TrackMaintenance

SchemePayment

TotalRNSWCMeeting

Payments

SCHEME OF DISTRIBUTION SUMMARY 2015-16

VenueNo.

MeetingsPrizemoney Prizemoney

TotalRNSWCMeeting

Payments

TotalRNSWC

Distribution

41

45,5501,962,2251,389,9001,512,450

83,07540,925

974,30062,000

--

45,20048,825

-112,30037,55037,775

-253,600

3,286,57539,100

2,173,82537,35059,000

106,175300,225127,000571,275332,25040,32572,650

1,562,050-

176,100409,40053,325

2,105,20039,20049,77534,70038,275

548,575609,50058,77519,77549,775

249,92550,000

476,400

33,9982,129,4111,651,3071,881,632

66,93933,115

1,205,68677,2065,0005,000

33,75648,0365,000

60,03133,55034,6955,000

318,0733,783,938

39,2002,692,319

31,22539,884

134,279361,814166,731655,673431,13233,32563,372

1,897,2085,000

214,591476,52565,797

2,477,45232,34939,50132,35664,763

601,781752,43135,78816,87540,775

337,53549,491

589,670

TrackMaintenance

SchemePayment

TotalRNSWC

Distribution

413,983158,92232,389

1,376,76733,65940,24827,825

548,9891,240,433

32,434810,039

5,0003,389,3822,727,255

176,69735,913

128,571686,14348,492

328,55332,266

352,1601,099,195

501,562978,223

1,011,1723,434,4531,790,647

33,7895,373

1,484,6013,385,148

40,36627,21034,658

121,286508,833

1,215,353197,305

6,32327,76228,568

201,958375,323989,96927,524

1,368,42833,663

346,975139,07536,200

1,126,97558,87541,77546,325

471,400986,80040,475

666,475-

2,977,8752,234,175

137,47544,00097,775

576,60039,100

268,47550,250

-834,650447,600851,525907,675

3,894,4251,465,225

48,825-

1,133,0002,740,400

55,00028,65044,325

118,075402,550989,325186,325

-30,82530,550

174,800318,950

1,026,30042,425

1,032,57539,550

Krambach Leeton Lightning Ridge Lismore Louth Mendooran Merriwa Moree Moruya Moulamein Mudgee Mungindi Murrumbidgee Muswellbrook Nambucca River Narrabri Narrandera Narromine Nyngan Parkes Pooncarie Port Macquarie Queanbeyan Quirindi Racing OrangeSapphire Coast Scone Shoalhaven City Silver City Tabulam Tamworth Taree-Wingham Tocumwal Trangie Tumbarumba Tumut Tuncurry-Foster Tweed River Walcha Walgett Wallabadah Warialda Warren Wauchope Wellington Wentworth Wine CountryYoung

321

111116917-

24193125131-

1157

1018141-9

2311146

102-113581

101

413,983153,11432,389

1,326,22733,65940,24827,825

529,3861,149,946

32,434773,818

5,0003,182,4622,609,935

176,55734,188

127,708658,25933,254

296,35732,266

220,000979,126481,039946,583991,152

3,267,0131,721,185

33,7895,373

1,323,6013,202,168

35,42127,21033,623

112,201490,437

1,135,039185,920

5,00027,76228,050

199,888345,369971,57327,524

1,228,23833,663

-5,808

-50,540

---

19,60390,487

-36,221

-206,920117,320

1401,725

86327,88315,23832,196

-132,160120,06920,52331,64020,020

167,44069,461

--

161,000182,980

4,945-

1,0359,085

18,39580,31511,3861,323

-518

2,07029,95318,395

-140,190

-

463 52,099,227 3,245,802 55,345,030 47,512,800

42

SUMMARY OF FINANCIALTRANSACTIONS FOR 2015 - 2016

Opening Balance as at 1st July 2015

LESS - Project payments PLUS - Transfer from accumulated surplus

Closing Balance as at 30 June 2016

$2,035,459

$1,343,855

$2,000,000

$2,691,604

Country Racecourse Development Fund

CLUB

Append ix 2

NOTE: As some amounts are rounded to the nearest dollar,the sum total of all projects may not equate to the total.

AlburyArmidaleBallinaCasinoCDRA/WRAConsultants / Misc.

CoonabarabranCootamundraDeepwaterDeniliquinForbesGilgandraGoulburn

Gundagai-AdelongGunnedahKempseyLeeton

MNCRA (Port Macquarie / Taree)MoruyaMurrumbidgee

NarranderaNarrominePort Macquarie

Sapphire CoastSDRA (MTC / Albury / Gundagai)Shoalhaven City

TamworthTaree-WinghamTuncurry-ForsterWean

43

Opening balance Payments during 2015-16

Total Expenditure

Closing balanceat 1 July 2015 at 30 June 2016

SUMMARY OF PAYMENTS FOR 2015-16 (SORTED BY PROJECT)

Amount Approved

Project Description

New 16-gate mobile starting barriersCut-down ex-Tamworth JC starting barriersTractor to operate NRRA Verti-DrainNew inside running railShared-use Verti-Drain 7521 & trailerSAI Global (Australian Standards)Surveillance towers triaxial cablingHydrology/irrigation investigationsSESL (2015 Track Managers Seminars)OCS (2015 Clubs WHS Seminars)Fornells PVC rail (replacement components)New racecourse irrigation systemAdditional raceday/tie-up stallsTwenty (20) new raceday stalls - St2Upgrade inside running railNew racecourse irrigation systemNew inside running railSpagnolo sand sweeperProfessional fees (Raceday/Function Centre)New racecourse irrigation systemNew female jockeys' amenitiesNew female jockeys' amenitiesUndercover betting ringCommission ex-Corowa starting barriersShared-use Verti-Drain 7521 & trailerTractor to operate SERA Verti-DrainPower to Track Supervisors HutNew female jockeys' amenitiesNew modular swab box/vet roomNew stalls & swab box/vet roomSpagnolo sand sweeperTractor to operate MNCRA Verti-DrainNew 14-gate mobile starting barriersNew 2.1m high kangaroo fenceShared-use Verti-Drain 7521 & trailerSand grooving (Drainage Stage 3)New modular swab box/vet roomNew 16-gate mobile starting barriersNew 2.1m high kangaroo fenceNew barriers paddingNew female jockeys' amenities

100,8704,803

30,90931,49065,79711,00095,00065,00015,00013,00010,00057,16521,8197,7504,338

75,00052,2002,323

97,029107,58833,88045,0009,3081,180

32,89827,0001,190

20,69125,00065,2792,350

28,62098,793

119,60832,89850,60025,000

108,14879,9682,517

12,500

1,690,510

100,87000

31,4900

2,13915,8614,158

15,00000

57,1650

7,7504,338

00

2,32300

33,8800

9,3081,180

027,0001,190

20,69125,000

0000

119,608000000

12,500

491,451

100,8704,803

30,90931,49064,7891,520

10,0661,800

11,25212,6986,022

57,16521,8197,7504,338

75,00052,2002,323

28,46934,56833,88040,2959,3071,175

32,39527,0001,190

20,6915,018

65,2792,350

28,62098,793

119,60832,39550,56018,908

108,14879,9682,5175,907

1,343,855

100,8704,803

30,90931,49064,78910,38189,20562,64211,25212,6986,022

57,16521,8197,7504,338

75,00052,2002,323

28,46934,56833,88040,2959,3071,175

32,39527,0001,190

20,6915,018

65,2792,350

28,62098,793

119,60832,39550,56018,908

108,14879,9682,5175,907

1,492,696

0000

1,008619

5,7952,3582,468

3023,978

0000000

68,56073,020

04,705

05

504000

19,98200000

50440

6,092000

6,593

196,533

COUNTRY CHAMPIONSHIPSREGIONAL QUALIFIERS

Another Valley - MNCRA

Chrysolaus - Wild Card

Clearly Innocent - HNWRA

Lofty’s Menu - SERA

Pera Pera - CDRA

Profiler - NRRA

Something Borrowed - WRA

Steakandbearnaise - SDRA