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2013
04
VISION. MISSION. GOALS
06
FROM THE CHAIR
08
FROM THE PROGRAM MANAGER
10
HIGHLIGHTS
15
ACADEMIC PROGRAMS
18
NICA GRADUATES
22
NICA PERFORMANCE PROGRAM
24
NICA TEAM
28
NICA IN THE COMMUNITY
31
MEDIA & MARKETING
32
CIRCANICA
34
NICA SUPPORTERS AND PARTNERSHIPS
36
FINANCIAL REPORT
DESIGN BY: BLICK CREATIVE
PHOTOS BY: AARON WALKER, DAVID WYATT & FRANCESCA SISKA
INFO@NICA.COM.AU
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NICA ANNUAL REPORT 2013
VISION
LEADERSHIP
NICA will be an internationally renowned Australian
Centre of Excellence in education, training, performance
and research in contemporary circus.
ACCESS
MISSION
EXCELLENCE
NICA will foster passion, creativity, and a high level
of skill in its graduates who will be recognised as
inspiring circus artists.
INNOVATION
NICA will deliver innovative training programs to
talented students, whose work will re-imagine circus
and provide stimulating, evocative and sometimes
challenging performances.
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NICA graduates and staff will take a leadership
role in shaping the Australian circus arts industry.
NICA will provide opportunities for a wide
range of participants in its courses, workshops
and performance program.
GOALS
■■ Drive excellence and support world class endeavour
in the education and training of circus artists.
■■ Establish a strong regional, national and
international presence.
■■ Build a robust and sustainable organisation.
■■ Engage with industry and the wider community.
I am delighted to present the 2013 Annual Report for the National Institute of
Circus Arts. It gives me great pleasure to report on the many significant achievements.
The beginning of the year saw NICA continue to build
upon its reputation and expand its presence within
the international circus community with performances
at the 34th Festival Mondial du Cirque de Demain.
Fifteen graduates and students performed the opening
sequence for this prestigious festival in Paris. This was
a well-deserved honour for NICA and showcased the
level of skill and creativity of NICA’s staff and students
on the international stage. NICA graduate Lewis West
won gold at the festival for his impressive performance
on Aerial Straps.
NICA acknowledges the ongoing support from our
philanthropic supporters whose generosity made it
possible for these young Australian artists and NICA
to have this unique opportunity to perform in front
of a large international audience. Among the many
organisations and individuals I would particularly like
to thank the following: The Joan and Peter Clemenger
Trust, the Hugh D.T. Williamson Foundation, The Pratt
Foundation, The Ian Potter Foundation and The Myer
Foundation for their continued support.
NICA welcomed former Cirque du Soleil Artistic
Director Matthew Jessner to NICA early in 2013 to
create a new circus work supported by the Richard
Pratt Creative Fellowship. Leap of Faith received
positive reviews and provided the students with a rich
opportunity to perform their chosen specialty. Original
and refreshing, Leap of Faith was a performance in
which the students played themselves, demonstrating
a wide variety of collective and individual talent.
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NICA had been undertaking a process towards
the achievement of independence from Swinburne
University of Technology for some time, with a proposed
deadline of June 30, 2013 as the separation date.
Conditions for this separation included confidence that
NICA as an independent entity would not compromise
the sustainability of NICA’s operations. In June, the
decision was made that at this time NICA’s best
interests would benefit from continued support and
governance by the University. I am pleased to confirm
that Swinburne continues to provide ongoing support,
course accreditation and quality assurance for NICA’s
circus arts programs.
From July 2013 several new Directors took up vacant
positions on the Board, and a new leader, Rose
Stephens (who holds the position of Program Manager)
was appointed. I would like to acknowledge the work
Rose has done at NICA, specifically for her leadership
in strengthening the position of NICA within the Circus
and Performing Arts sectors and assisting the NICA
team to work on improving operational procedures
and the educational focus at NICA. I would also like
to acknowledge the appointment of Business Manager
Andrew Simpson, who brings to the organisation strong
financial management capability.
An agreement was reached with the Commonwealth
Government that NICA had secured an historic funding
agreement of $11.797 million (ex GST) over 4 years.
This increased Commonwealth funding over a longer
period than usual will ensure a strong basis for the
future of NICA’s highly specialised programs and
ensure that NICA’s graduates continue to have access
to excellent training opportunities.
I would like to take this opportunity to recognise the
significant contribution made by founding CEO and
Director, Pamela Creed, during her time at NICA.
Many important milestones for NICA were achieved
during Pamela’s time as the CEO and we wish her
well for the future.
Additionally, recognition must also go to the outgoing
members of the NICA Board for their years of service
and contribution to the governance of NICA. NICA
appreciates the contributions of the Hon. Rod Kemp
(Chair), Mr Andrew Guild and Ms Kate Shelmerdine.
Their support and governance of NICA was much
appreciated and we recognise their collective efforts.
Thank you also to the Australian Government and the
many supporters of NICA for their continued alliance
and connection to the organisation. Without such
support, our work would be so much more difficult.
We are also grateful to the City of Stonnington for
their support of the Youth Circus Finale in which NICA’s
community circus participants were able to showcase
their skills in December.
Finally, I wish to extend a big thank you to the
teachers, trainers and auxiliary staff of NICA for their
hard work, dedication and delivery of world class
training to Australia’s emerging circus artists.
Professor Jennelle Kyd
CHAIR
INFO@NICA.COM.AU
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I would like to thank the NICA community for the warm welcome I received in
taking up the position of Program Manager on July 1 2013. The final six months
of the year were certainly eventful and rewarding with the focus on the creation
of successful and innovative shows.
Final amendments to the new Bachelor of Circus
Arts course were approved and the green light given
for delivery in 2014. This will provide five year
accreditation as a Swinburne University degree and
the program now sits within the new Faculty of Health,
Arts and Design. NICA looks very much forward to
working with the Faculty in 2014 as it strives to develop
a research culture and continues to provide quality and
compliance commitment to the program.
Among NICA’s many valued industry connections,
I would like to mention and thank the following for
their continued support of NICA: The Australian Circus
and Physical Theatre Association (ACAPTA) and The
Flying Fruit Fly Circus, for their continued dialogue and
interaction in the development of youth circus training;
Circus Oz and Circa for their contribution, support and
enthusiasm in the provision of industry input; both as a
presence at NICA and as employers of our graduates.
It was very pleasing to note that NICA made a strong
operating surplus for the year ending 31 December
2013 providing NICA the opportunity to invest in much
needed capital equipment. However it is important to
note that this surplus was influenced by a number of
one-off revenue items such as timing of government
funding payments that means this result is not indicative
of projected future surpluses.
The final graduation ceremony was a special event
with 23 students graduating. Local Member Mr Clem
Newton-Brown gave the Keynote Address expressing
his support for NICA and welcoming NICA’s new
neighbour, Melbourne Polytechnic, to Prahran. The
focus will be on the development of a creative arts
precinct and this is an exciting phase for NICA
moving forward.
NICA was pleased to bring together an enthusiastic and
supportive industry advisory panel to work with NICA in
several areas. Firstly, a Steering Committee was formed
to lead the development of the reaccreditation of the
Diploma of Circus Arts. I am pleased to advise that the
valuable feedback provided by the industry group
has been incorporated into the new course. Several
meetings were held and the documentation was
prepared ready for submission in 2014.
2013 also marked the ten year anniversary since
the class of 2003 graduated from NICA’s degree
program. A number of the graduates were able to
return for the opening night of the Circus Showcase
2013 season and were presented with a special
commemorative photo book to recognise the occasion.
Staff very much enjoyed the reunion and sharing of the
inaugural graduates’ career stories.
Secondly, a group of industry practitioners (including
some international representatives) provided valuable
feedback to our final year students as they prepared
for their showcase presentation. The close relationship
between our circus industry artists and directors and
NICA enabled robust conversations. This cooperative
interaction assists NICA to build programs that
are relevant and enable the fostering of excellent
employability skills for our graduates.
I would like to thank all the staff at NICA for their
dedication throughout the year. It is not only the
teaching and training staff who shape the futures of
our students. It is also the production team, the health,
administrative and financial teams and other auxiliary
staff who worked so hard in 2013 to bring the year to
a successful fruition.
The Annual Report is presented not only as a record
of the financial governance and status of NICA, but
also as a picture of the many highlights, success stories
and achievements that were 2013. I look forward
to the pursuit of excellence, sound governance and
quality management that herald 2014.
Rose Stephens
PROGRAM MANAGER
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MAY
NICA 2013 HIGHLIGHTS
NICA maintained strong relationships with the circus
and performing arts industries as well as other training
and education providers in order to meet its goals of
establishing a strong regional, national and international
presence, driving excellence and supporting world class
endeavour in the education and training of circus artists.
NICA is one of eight arts training institutes that comprise
the Australian Roundtable for Arts Training Excellence.
This includes: the Australian Ballet School; the National
Institute of Dramatic Arts; the Australian National
Academy of Music; the Australian Youth Orchestra; the
Australian Film Television and Radio School; the Flying
Fruit Fly Circus and the National Aboriginal Islander
Skills Development Association Dance College.
After a lengthy casting process and
auditions with artists across Australia,
a NICA graduate and a CircaNICA
artist were selected for a 6-month
contract in China with Hoopla Doopla!,
a new circus themed children’s TV
series. Produced by Beyond Screen
Productions, the TV series is a
collaboration between ABC and China
TV and features a cast of three Chinese
and three Australian circus performers.
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JANUARY
A huge privilege and honour, NICA was invited
to open each performance of the 34th Mondial
du Cirque de Demain Festival in Paris.
MARCH
Fifteen graduates and Bachelor of Circus Arts
students performed the opening sequence which
incorporated an impressive range of circus skills
performed in the round.
NICA students participated in
a dance class lead by Cirque
du Soleil’s OVO Artistic Director,
Marjon von Grunsven.
JUNE
Lewis West, a 2008 NICA graduate and former
student of NICA’s Head of Circus Studies, Lu Guang
Rong, won gold for his Aerial Straps routine.
Seven NICA graduates performed
in King Kong Live on Stage at
Melbourne’s Regent Theatre.
NICA CEO & Director, Pamela Creed, was invited
to be a member of the judging panel for the festival.
APRIL
The season of NICA’s bold,
“film-noir” inspired second year
performance One False Move,
opened to the public.
NICA graduate, Lewis West, was the subject
of an in-depth profile story aired on ABC TV.
NICA’s third year ensemble show, Leap of
Faith, directed by former Cirque du Soleil
Artistic Director, Matthew Jessner, presented
a successful season at NICA.
FEBRUARY
A NICA graduate performed a Dance
Trapeze routine in a short experimental
film by an Australian filmmaker which
won the prestigious Prix Canal+ in The
Lab Competition at the Clermont-Ferrand
Short Film Festival in France 2013.
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NICA celebrated World Circus Day by
registering with Fédération Mondiale du Cirque
and inviting our Community Circus participants
to dress up and celebrate their love of circus.
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NOVEMBER
Circus Showcase 2013 opened presenting the culmination
of three years of training by NICA’s graduating circus artists.
The show was a resounding success.
NICA celebrated the 10th Anniversary of its first Bachelor
of Circus Arts degree graduates.
SEPTEMBER
NICA graduate and current staff member, Dan Power, was
awarded second place at the 2013 Pole Paradise Studio
(PPS) Aerial Performance Tournament in Hong Kong.
Cirque du Soleil’s KOOZA employed a 2013 NICA graduate.
NICA students performed a riveting Group
Bike routine at the opening night of the
International Congress of Paediatrics (ICP).
JULY
Circa’s Artistic Director, Yaron Lifschitz,
delivered a workshop to NICA’s third
year students.
King Kong Live on Stage featuring NICA
graduates was nominated for eight
Helpmann Awards.
Cavalia artists visited NICA and delivered
a workshop to second year students.
In July, over 30 NICA Certificate III and
IV students performed at Hisense Arena,
Melbourne in the 2013 Victorian State
Schools Spectacular, one of the largest
youth performing arts events in Australia.
The Commonwealth Government committed
$11.797 million (ex GST) over four years
to support NICA in its unique national role
in providing elite circus arts training.
Step Right Up, a cabaret-styled competition,
was held at NICA.
DECEMBER
OCTOBER
Eighteen NICA second year students travelled to France, Germany
and the UK on an international study tour supported by the Pratt
Foundation through the Richard Pratt Creative Fellowship. The
students participated in FEDEC’s Circle gathering, experienced
the Circa Festival du Cirque Actual in Auch and witnessed many
professional contemporary circus performances.
NICA’s Community Circus Classes
culminated in the Youth Circus
Finale and featured 160 of NICA’s
youngest circus artists performing
on the stage of the NICA National
Circus Centre. The event was
supported by the City of Stonnington.
23 third year students graduated
from NICA’s Bachelor of Circus Arts.
NICA students and graduates received three awards in the 2013
Melbourne Fringe Festival: ‘Best Original New Circus’, ‘Best Circus’
and ‘Best Emerging Circus Performer’.
AUGUST
NICA graduates performed with Circa in their
show, Wunderkammer at the Malthouse Theatre.
NICA welcomed Melbourne Polytechnic as its
new neighbour.
NICA’s first year students performed, Alwin in
E Minor, directed by Hayden Spencer (a 2013
Helpmann Award nominee for Best Supporting
Actor and former clown with Cirque du Soleil).
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Proudly supported by Cirque du Soleil’s Social Circus Division,
NICA’s Social Circus Coordinator Andrea Ousley, along with two
second year students, travelled to the Northern Territory to work
with Corrugated Iron Youth Theatre. Access to training is challenging
in Darwin, so the ability of NICA to offer new skills, new ideas and
new ways of working was valuable for Corrugated Iron in assisting
its circus arts program.
NICA graduates presented circus installations in the City of Stonnington’s
Arts Burst Festival.
NICA’s Head Physiotherapist, Dr David Munro presented a paper,
“Injury rates and patterns at NICA”, at the Australian Physiotherapy
Association National Conference.
INFO@NICA.COM.AU
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BACHELOR OF CIRCUS ARTS ADVANCED DIPLOMA OF CIRCUS ARTS
NICA’s core program is a three year full time Bachelor
of Circus Arts degree course, incorporating a Diploma
of Circus Arts (first year) and an Advanced Diploma
of Circus Arts (second year). The Bachelor of Circus
Arts is the highest level of accredited circus training
available in Australia.
Through this vocationally oriented degree, NICA strives
to produce highly employable, skilled and creative artists
who will be respected nationally and internationally in
the global circus and physical theatre industry.
During 2013, NICA’s Bachelor of Circus Arts successfully
undertook a re-accreditation process and the new degree
program will be fully implemented in 2014. The new
degree format will no longer be a nested program, but
a complete degree course. Pathways from the Diploma
in Circus Arts have been created to ensure options and
a variety of outcomes are available to suitable applicants.
NICA is very proud of the many graduates from
2013 who secured contracts with companies such as
Cirque du Soleil KOOZA, P&O Cruises/Circolombia,
Australian Shakespeare Company, Circa, NoFit State
Circus, Cirque Productions New York and Jupiter’s
Casino Queensland. NICA is also pleased to welcome
a number of graduates to teaching positions in the
short courses and commercial programs.
During 2013, the Advanced Diploma of Circus Arts
students worked on their chosen circus specialties and
performed in One False Move co-directed by Megan
Jones and Meredith Kitchen. Eighteen students also
participated in an international study tour travelling to
Auch, Paris, London and Berlin. The tour was supported
by the generosity of the Pratt Foundation, Swinburne
University Study Abroad, and the students’ fundraising
efforts. The students experienced the Circa Festival
du Cirque Actuel in Auch, France; witnessed many
professional contemporary circus performances, and
participated in FEDEC’s Circle gathering. Visiting other
circus schools and viewing a range of professional and
student productions was an invaluable experience.
DIPLOMA OF CIRCUS ARTS
The Diploma of Circus Arts students worked hard in
selecting their chosen circus specialities and group
acts at the commencement of their three year degree
program. Work began on the re-accreditation of the
Diploma course which included the formation of an
industry steering committee to guide the process. The
new Diploma is expected to be accredited early 2014.
During August, students were directed by Hayden
Spencer (a 2013 Helpmann Award nominee for Best
Supporting Actor and former clown with Cirque du Soleil)
in their show Alwin in E Minor. The show was based on
the seven stages of man from the famous monologue in
Shakespeare’s play, As You Like It, and provided the 23
students with the opportunity to perform in an ensemble
for an audience of family and friends.
INFO@NICA.COM.AU
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CERTIFICATE III & IV
IN CIRCUS ARTS
The Certificate III and IV programs in Circus Arts provide
one year full-time preparatory vocational qualifications.
Entry is according to skill level and experience. The
courses aim to prepare participants for a variety of
entry level roles within the contemporary circus arts
and community circus sector.
In July, over 30 NICA Certificate III and IV students
performed at Hisense Arena, Melbourne in the 2013
Victorian State Schools Spectacular, one of the largest
youth performing arts events in Australia.
Year 11 and 12 students from the Victorian College of
the Arts Secondary School (VCASS) again participated
in the NICA programs to supplement their VCE studies.
ARTISTS IN
CONVERSATION
Held monthly, the Artists in Conversation seminars
connect the NICA community with practising artists
and provides an opportunity for students and staff
to engage with artists about the creation of their work.
The informal conversation format is an ideal platform
for knowledge sharing and presents staff and students
with the opportunity to explore current ideas around
creating contemporary work.
During 2013, a number of renowned artists contributed
to these sessions including:
■■ Circa – cast of Wunderkammer featuring NICA
graduates
■■ Casus – cast of this contemporary circus company
based in Brisbane which included a NICA graduate
■■ Cavalia – Bernard Quental, Gabrielle Martin &
Yoann Lévesques
■■ Slava’s Snow Show – Derek Scott
■■ Cirque du Soleil, OVO – Marjon von Grunsven,
Artistic Director & cast
■■ Cirque du Soleil, Michael Jackson THE IMMORTAL
World Tour – selected cast
■■ Lucy Hopkins – independent artist from UK performing
at Melbourne International Comedy Festival
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ACADEMIC PROGRAMS
STUDENT NUMBERS
A number of awards were presented for outstanding
student achievement.
Student numbers (including returning students):
STUDENT AWARDS 2013
■■ Certificate III in Circus Arts: 11
ACADEMIC AWARDS
■■ Certificate IV in Circus Arts: 26
MAY WIRTH AWARD
Keeley Tyler-Dowd
■■ Diploma of Circus Arts: 24
■■ Advanced Diploma of Circus Arts: 23
■■ Bachelor of Circus Arts: 24
GRADUATION CEREMONY
& STUDENT AWARDS
Professor Bill Scales AO, Chancellor of Swinburne
University of Technology, presided over the graduation
ceremony and Mr Clem Newton-Brown, Member for
Prahran, delivered the Keynote Address. To celebrate
the 10th anniversary since NICA’s first Bachelor
degree graduates, Dan Power (2003 graduate and
current staff member) delivered a speech about his
circus career and the role NICA played in that journey.
CON COLLEANO AWARD
Martin Evans
ABSOLUTE PHYSIOTHERAPY AWARD,
Excellence in anatomy and physiology
Alex Jean
Sponsored by Dr David Munro, Absolute Physiotherapy
NICA ACHIEVEMENT AWARD,
Striving for excellence
Angelique Ross
SIR RUPERT HAMER AWARD,
Dedication and outstanding achievement
Mark Graham
Sponsored by Swinburne University
GRADUATING ARTIST AWARD,
Spirit of collaboration
Timothy Rutty
Sponsored by Circus Oz
SPOTLIGHT ON CAREERS 2013
Skip Walker-Milne and
Gerramy Marsden – Circa
2012 NICA graduates, Skip Walker-Milne and
Gerramy Marsden, joined critically-acclaimed
contemporary circus company Circa. Skip is in the
core ensemble and Gerramy is a guest artist. There
are now eleven NICA graduates performing in Circa
productions across Australia and internationally.
Simon-James Reynolds – Cirq’ulation Locale Belgium
Skye Gellman
Award-winning independent artist and NICA graduate,
Skye Gellman, produced and performed Blindscape,
a one hour immersive circus performance and
interactive iPhone experience. Skye performed at:
the La Boite Theatre Indie Season Brisbane; Junction
Arts Festival Tasmania; Melbourne Fringe Festival;
PACT Theatre and Hoopla Festival Sydney, amongst
others. Blindscape was nominated for the Green Room
Awards for “Innovation and Excellence in Circus”.
The Green Room Awards are Melbourne’s premier
arts awards and recognise excellence across the
Melbourne theatre industry.
Tom Davis
Another 2012 graduate, Simon-James Reynolds,
secured a contract as a trampoline performer with
Cirq’ulation Locale, based in Bruges, Belgium. He
performed at Miller Outdoor Theatre Houston, Texas;
Mid-West Arts and Cultural Fair Austin, Texas; Klienes
Festival in Hannover, Germany; Züri Fest Zürich,
Switzerland and Mod’In International Circus Festival
in Mod’In Israel.
NICA graduate Tom Davis won First Prize for his
performance LEFT at the Gasworks Arts Park Circus
Showdown. Tom also produced a solo 45 minute
production called The Great Big Circus Adventure! for
a season at the Adelaide Fringe Festival; created a duo
commissioned family show for the Scienceworks July
School Holiday Program; and performed at festivals
across Australia including the National Folk Festival
and The Village Festival Canberra. Finally in late 2013,
Tom toured nationally performing with Circus Oz.
Almost Exactly Circus
Thomas Worrell – Le Noir
Graduates Jamie Bretman, Jack Coleman, Sarah
McDougall, Josie Wardrope and Oliver Versteegen
created a new independent company called Almost
Exactly Circus. They produced Minimum Stay, a comedic
Faulty Towers style circus show set in a rundown hotel.
The family show toured to theatres and schools in
Victoria and NSW and performed a season at the
Adelaide Fringe Festival. In 2014 Almost Exactly Circus
will develop a new show called Trash Test Dummies
for seasons at the 2014 Adelaide Fringe Festival and
Melbourne International Comedy Festival.
Thomas Worrell continued touring internationally
with production company Le Noir, presenting intimate
circus style entertainment with a cast of world-class
performers. Thom performs Aerial Ring, Contortion
and Handstands, and was awarded the Australian
Acrobatic Hoop Champion at the 2013 Australian
Pole Fitness Championships.
Daniel Crisp – Dragone
Graduate Daniel Crisp secured a two year contract with
the Franco Dragone production The House of Dancing
Water in Macau, China, in which he performs High
Diving and Chinese Straps. Daniel has also completed
his Master of Sports Coaching qualification and
commenced a Master of Teaching and Learning degree.
INFO@NICA.COM.AU
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NICA GRADUATES
NICA GRADUATE
DESTINATIONS
ASIA
Club Med Bali, Indonesia–2
Club Med Malaysia
Dragone, Macau China–3
Hoopla Doopla, ABC/ CCTV,
Beijing, China
Kinoshita Circus, Japan
Le Noir Circus, Japan
Palace Theatre, Singapore
Universal Studios Japan–2
Circus Kathmandu, Nepal
MIDDLE EAST
Ferrari World, Abu Dhabi–3
USA
UK
AUSTRALIA
Cirque du Soleil–Viva Elvis, Las Vegas
Cirque du Soleil–O, Las Vegas
Cirque du Soleil–Amaluna, touring USA
NCL Cruises, Cirque Productions, USA–3
La Soiree, New York
Charles Chipperfield Circus, tour of UK
Circomedia, Bristol UK
Micha Bergese Productions, London–3
NoFit State Circus, touring UK
& internationally
La Clique, UK
Circus Ringbarkus, touring Australia
Eroni’s Circus, touring Australia
Silvers Circus, touring Australia
TOURING INTERNATIONALLY
Briefs, touring internationally
La Soiree, touring internationally
Strange Fruit, touring internationally
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EUROPE
Cirque Theatre Oncore, Ales, France
Cirque du Soleil–Alegria, touring Europe
Cirq’ulation Locale, Bruges, Belgium
Fort Fun Abenteuerland, Bestwig, Germany
MELBOURNE
Circus Oz, touring Australia
& internationally–4
King Kong–7
KAGE
Opera Australia, Melbourne
Victorian Opera
Showtech Australia
The Circus Spot, Melbourne
Little Devils Circus, Melbourne
Wonderland Fun Park Spiegeltent
NICA–4
SYDNEY / NSW
The Ivy Nightclub Sydney–4
Aerialize, Sydney
Flying Fruit Fly Circus, Albury
BRISBANE / QLD
Circa, touring Australia
& internationally–10
Flipside Circus, Brisbane
PACIFIC ISLANDS & NEW ZEALAND
Carnival Australia/ P&O Cruises–5
ACT & NT
Sandfly Circus, Broome
INFO@NICA.COM.AU
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NICA PERFORMANCE
PROGRAM
19th – 29th OF JUNE 2013
NICA National Circus Centre
Megan Jones and Meredith Kitchen co-directed NICA’s
second year students in yet another breathtaking
performance. The vibrant and suspenseful show drew
inspiration from the events and characters that inhabit the
fictional world of the “film-noir” genre, and incorporated
live music performed by the students to complement the
quirky circus montage of dynamic aerial acts, comic
acrobatic chases, dangerous balancing feats and
surreal characters.
Audience numbers
2,155 spectators
CIRCUS IN MOTION
4th – 13th OF APRIL 2013
NICA National Circus Centre
Former Cirque du Soleil Artistic Director, Matthew Jessner,
created Leap of Faith showcasing the talents of NICA’s
24 final year students in a display of pure contemporary
circus. The show received rave reviews, and distilled the
circus art form into an entertaining, heart-pounding and
refreshing performance of high level skill.
“The performers were confident and there were very
few false moves as they presented a variety of skills
including Teeter Board, German Wheel, Tightwire,
Clowning, Aerial, Chinese pole, Acrobatics, Hula
Hoops and more. These students are well on their
way to becoming outstanding circus performers.”
–Shirley Jensen, Stage Whispers
21st of June 2013
27th NOV – 7th DECEMBER 2013
NICA National Circus Centre Circus Showcase 2013 was co-directed by Megan
Jones and Meredith Kitchen and featured distinct solo,
duo and group performances from NICA’s graduating
class of 2013.
The individual acts crafted by students and their trainers
presented a culmination of strength, determination
and endurance in their chosen specialties including
Tightwire, Cloudswing, Hula Hoops, Duo and Vertical
Rope, Juggling, Adagio, Roué Cyr, Swinging Trapeze,
Chinese Pole, Clowning, Handstands, Hand Balancing,
Roman Rings, Aerial Hoop, Swinging Pole and Tissu.
Audience numbers
2,889 spectators
“NICA’s Circus Showcase 2013 presents an entertaining
vision of contemporary circus arts that knowingly leans
on farce to create something that teeters nicely between
carnival and cabaret. (The show) truly reflects the diverse
personalities that belong to the graduating third year
students, quirky, sassy, fun, intense and dynamic.
And with this, the show succeeds. It’s accessible,
entrancing and easy to watch — a testament to the
enduring appeal of spectacle.”
–Meg Watson, Concrete Playground
28th of November 2013
Audience numbers
3,122 spectators
“NICA’s Leap of Faith: Circus in Motion saw 24
talented young performers bringing three years of
intense practice to breathtaking fruition… Assured
confidence now allowed these wonderful performers
to smile and share their enjoyment. Hopefully their
diligence and skill will give them the opportunity to
take a leap of faith to explore their potential in the
many great circuses around the world.”
–Barbara Booth, Aussie Theatre
5th of April 2013
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INFO@NICA.COM.AU
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EXECUTIVE & ADMIN
EDUCATION TEAM
CEO & DIRECTOR
HEAD OF CIRCUS STUDIES
& DIPLOMA COORDINATOR
Pamela Creed (to 30 June 2013)
PROGRAM MANAGER
Rose Stephens (from 1 July 2013)
EXECUTIVE ASSISTANT
NICA BOARD OF DIRECTORS
NICA BOARD OF DIRECTORS
Clare Toms
BUSINESS MANAGER
Andrew Simpson
(to 30 June 2013)
OPERATIONS MANAGER
(from 1 July 2013)
CHAIR
CHAIR
The Hon. Rod Kemp
Professor Jennelle Kyd
DIRECTORS
Emily O’Connor
MARKETING MANAGERS
Maria Rizzo & Georgia Mill
DIRECTORS
FINANCE OFFICER
Mr Andrew Guild
Ms Kate Shelmerdine
Mrs Sheila Fitzgerald
Mr Luke Sheehy
Mr Ross Mollison
Mr David Stevens
Ms Kirsten Jeffrey
Mr Jeffrey Smart
Mr Bryan Rossi
Ms Mary Stuart
Mr Ross Mollison
Mr David Stevens
STUDENT ADMINISTRATOR
Mr Bryan Rossi
Ms Mary Stuart
Sarah Wade
COMPANY SECRETARY
Mr Tom Rowan
Shashwat Patel
Lu Guang Rong
HEAD OF PERFORMANCE & DEGREE
COORDINATOR
Megan Jones
SENIOR EDUCATOR
Candice Williams
ADVANCED DIPLOMA COORDINATOR
Vasily Ivanov
CERTIFICATE IV COORDINATOR
Tegan Carmichael
CERTIFICATE III COORDINATOR &
MOVEMENT STUDIES COORDINATOR
Meredith Kitchen
TEACHING STAFF
Stephen Burton
Aaron Walker
COMPANY SECRETARY
ADMINISTRATION ASSISTANTS
Charlie Cheng
Avan Whaite
Mr Tom Rowan
Georgia Mill & Matt Noone
Qui Jin Cui
Julian Wisdom
Mathew Daniels
Jing Jing Xue
Liudmila Druzhina
Diana Zhang
Arturo Gomez
Dr Kim Baston
Martine Howard
John Paul Fischbach
Konstantin Ibraguimov
Grant Fletcher
Lu Rong
Tom Gorham
Kathryn Niesche
Andrew Iser
Daniel Power
Jacqui Louder
Ludwig Schukin
Dr David Munro
Tarn Scully
Hayden Spencer
Earl Shatford
Donna Stevens
INFO@NICA.COM.AU
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PRODUCTION & FACILITIES
CONFERENCES, FESTIVALS,
PRESENTATIONS, FORUMS
OPERATIONS MANAGER (PRODUCTION)
Betty Siemers
TECHNICAL MANAGER
Eduard Ingles
RIGGERS
Andrew Bright
Margot Storm
COMMERCIAL &
COMMUNITY PROGRAMS
Staff and students participated in a number of
conferences, presentations and forums in 2013.
INTERNATIONAL
Auch, France – Circa Festival
Auch, France –School Directors’ Forums, European
Federation of Professional Circus Schools (FEDEC)
Auch, France – The Circle, a performance program
for members of the European Federation of Professional
Circus Schools (FEDEC)
Hong Kong, China – Pole Paradise Studio Aerial
Performance Tournament
Mumbai, India – Bollywood film, Dhoom 3
SOCIAL CIRCUS COORDINATOR
Andrea Ousley
Nanjing, China – contemporary circus production,
Dream Kitchen
Nanjing, China – International Magic Competition
CIRCANICA AGENT
New Caledonia – Circus School Juggling Convention
Liz Louden
Paris, France – 34th Festival Mondial du
Cirque de Demain
SHORT COURSE COORDINATOR
Paula McKaskill
NATIONAL
Adelaide – Adelaide Fringe Festival
ADMINISTRATIVE ASSISTANT
Golconda – Tasmanian Circus Festival
Tarah Carey
Melbourne – Australian Physiotherapy Assoc. Conf.
Melbourne – International Congress of Paediatrics
HEALTH TEAM
Melbourne – Juggling Convention
Melbourne – Melbourne Fringe Festival
Melbourne – Victorian State Schools Spectacular
PHYSIOTHERAPISTS
Mullumbimby – Circus Festival
Dr David Munro
Penny Dayan
Joanna Rashleigh
VOLUNTARY WORK UNDERTAKEN BY STAFF
SPORTS MEDICAL PRACTITIONER
Dr Kathy Yu
SPORTS PSYCHOLOGIST
Jacqui Louder
STRENGTH & CONDITIONING COACH
Annie Alderson
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NICA.COM.AU
Social Circus Coordinator, Andrea Ousley, spent half
of the year in Jakarta, Indonesia, working as Artistic
Director of The Red Nose Foundation Hidung Merah,
a not-for-profit organisation. Andrea’s work
encompassed “training the trainers” who work with
disadvantaged children, mainly in Cilincing and
Bintaro, teaching them circus skills and English.
NICA VOLUNTEERS
NICA continued to participate in the work experience
program and offered placements to six secondary
school students. Several of these successfully auditioned
for entry into NICA’s accredited courses for 2014.
NICA also had the support of two marketing interns
who contributed to the success of marketing, social
media and public relations campaigns by supporting
the Marketing Manager. They gained real world
experience and received one-on-one mentoring from
the Marketing Manager.
COMMUNITY CIRCUS
PROGRAM
The Short Course Community Program has attracted
over 2,100 participants this year and includes classes
for children, teenagers and adults. Thirty-six classes
were opened to the public, offering opportunities to
learn and develop skills such as Contortion, Handstands,
Trampoline, Hula Hoops, Tissu, Tumbling and Trapeze
at all levels.
The program employs over 30 trainers including current
second and third year NICA students, NICA graduates
and industry professionals.
2013 saw the introduction of new classes in Aerial
Rope, Partner Acrobatics and Chinese Pole and due
to demand, NICA increased the number of classes
for 7-12 year olds. This age group made up almost
30% of overall participants.
CURRENT PROGRAMS
Percentage of current programs offered:
16%
NICA YOUTH CIRCUS
FINALE 2013
SCHOOL HOLIDAY
PROGRAM
Due to the high number of participating children in
our community circus programs during term four (160),
two shows were presented in the NICA National
Circus Centre (NCC) on Saturday 14 December 2013
instead of the usual one show. Each show included five
community circus classes and ran for approximately
40 minutes. Directed by respected clown and theatre
maker Liz Skitch, the theme of ‘Movie Magic’ allowed
our trainers and participants to present their growing
circus talents to their favourite movie themes. This event
was once again supported by the City of Stonnington
through its Arts and Cultural Development Grant and
was attended by more than 520 family and friends.
The popularity of the school holiday program continued
to grow as we introduced specialty shows and activities
as well as delivering fun and active circus workshops.
Teen classes
PRIVATE TUITION
45%
Adult classes
39%
As an added service to the public and circus industry
professionals, NICA continued to offer private tuition.
Private tuition is ideal for those looking to train in a
discipline that isn’t covered by a short course or wanting
focused training to boost their skills to the next level.
More activities were introduced for families with children
under five years of age to allow them to also enjoy the
NICA circus experience.
OPEN TRAINING
With an increasing demand for suitable training spaces
for circus professionals, NICA was pleased to launch
the Open Training Program (OTP) in 2013. NICA’s OTP
provided a safe training space for NICA students, staff,
graduates and other circus professionals throughout
2013. Individuals and groups applied to train in the
NICA space outside of NICA’s scheduled class hours.
Children’s classes
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IN THE MEDIA
NICA attracted many different media organisations
and individuals to its performances and events
throughout 2013 and continued to build upon its
national and international reach with a diverse range
of coverage secured.
NICA worked with Mollison Communications throughout
the year to secure editorials, reviews and listings across
a range of national and international media.
MEDIA STATISTICS 2013
7%
1%
Radio
Television
During 2013, NICA’s online media coverage
increased with this accounting for 73% of total media
coverage. Following the growth in online distribution
of current affairs and entertainment news, NICA saw
a 51% increase in recorded online mentions from
2012 to 2013.
MEDIA HIGHLIGHTS 2013
19%
73%
Print
Online
ABC Stateline ACT screened an in-depth profile in
April on NICA graduate, Lewis West, for his successful
performance in the 34th Festival Mondial du Cirque
de Demain in Paris.
NICA was also featured on the Channel 7 television
program Coxy’s Big Break in May. The program
featured presenter Rhys Uhlich being taught Tissu by
Aerial Trainer Aaron Walker and Juggling by Trainer
Earl Shatford.
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NICA took part in many radio interviews including
local, state-wide, national and foreign language
radio programs. As part of NICA’s audition coverage,
journalist Emma Sykes, from ABC Brisbane, attended
NICA’s audition day at Brisbane’s Flipside Circus
where she interviewed those auditioning and NICA’s
audition panel. The feature story was aired on the
4th of October 2013.
NICA enjoyed a strong presence in the print media with
a highlight being the coverage of NICA graduates in
King Kong Live on Stage. Articles and listings appeared
in a variety of local, state-wide and international print
media. NICA’s season of Circus Showcase 2013
experienced successful print coverage with front page
coverage on Melbourne’s MX newspaper and articles
in both the Herald Sun and The Australian newspapers.
HOW WE CONNECT
46,069
NICA website – received 46,069 unique visits
during 2013
5,000
E-newsletter – over 5,000 people have subscribed
3,100
Social Media – NICA’s Facebook grew to over 3,100
likes in 2013. NICA’s Twitter account also attracted
many new followers.
INFO@NICA.COM.AU
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KEY CONTRACTS & EVENTS 2013
NICA GRADUATES IN KING KONG
LIVE ON STAGE
CircaNICA continued to lead the way as Australia’s
premier supplier of contemporary circus entertainment.
In 2013, CircaNICA secured 140 contracts providing
artists and creative services to the commercial sector.
The agency employed a total of 120 performers including
both NICA graduates and circus industry professionals.
LONG TERM CONTRACTS
Since 2003, the agency has provided talent for short
and long term contracts, produced and commissioned
performances, and has secured ongoing bookings
with corporate and private clients, event management
agencies, community organisations and venues
across Australia.
■■ F1RST Tax & Duty Free, Melbourne Airport
CLIENT SECTOR REPORT
■■ ABC Hoopla Doopla!
■■ Ben 10, tour to Egypt, India & Abu Dhabi
■■ Dracula’s Cabaret Restaurant
■■ Feature Film Partisan
■■ Ferrari World RED, Abu Dhabi
■■ Global Creatures’ King Kong Live on Stage
■■ Scienceworks
■■ Wonderland Fun Park Spiegeltent
■■ Universal Studios Japan
■■ Victorian Opera
4%
Festivals
2%
Sport
7%
23%
Event
management
agencies
Education
8%
Not-for-profit
& charities
22%
Corporate
clients
Film & TV
y In
ied b
Imag
pl
e sup
ACCENT GROUP RUNWAY SHOW
8%
8%
10%
Government
Private
clients
Production
companies
NGV FUNDRAISING DINNER – 18 APRIL 2013
“Simon was perfect in every way!!! He is delightful, reliable and totally professional ... and was the hit
of the dinner!”
– William Eicholtz, NGV fundraising dinner
APPEA 2013 CONFERENCE – 26 MAY 2013
“I love Feet2Feat! I love Muscle Beach! I love NICA!
Thanks! The performers were a pleasure to deal with
and much enjoyed by the guests.”
– Victor Goldsztein, Victor Goldsztein Event Management
CircaNICA performed bespoke circus acts showcasing
an array of high profile shoe brands at an Accent
Group Runway Show on 4 December 2013.
CAMP QUALITY CHRISTMAS PARTY – 22 NOVEMBER 2013
LAUNCH OF MYER CHRISTMAS
WINDOWS
“Both the Candy Canes & the Acrobatic Elves Duo
were FANTASTIC! They added such an extra special
touch to our party and all four performers were so
self-sufficient, adaptable and very easy to work with.”
CircaNICA created a special performance for the
launch of Myer’s Christmas windows on the 8th of
November 2013. Santa and three elves abseiled down
the front of the Myer building on Bourke St, performing
a light-hearted aerial routine accompanied by a live
voice artist. The performance, choreographed by NICA
Aerial Trainer Aaron Walker, featured in Channel 7
and Channel 9 evening news reports and the Herald
Sun newspaper.
VICTORIAN OPERA
A CircaNICA artist was engaged by Victorian Opera’s
production, Maria de Buenos Aires, from the 5th -24th
of August 2013 to perform Contortion and Hula Hoop
in the opera at the Melbourne Recital Centre.
FEATURE FILM “PARTISAN”
8%
timo
Seven NICA graduates secured contracts as ‘Kings
Men’ in the spectacular musical theatre production
King Kong Live on Stage, produced by Global
Creatures. The Kings Men puppeteered the animatronic
ape, performed aerial harness work, acrobatics and
dancing. King Kong Live on Stage opened on the 14th
of June 2013 at the Regent Theatre to critical acclaim.
The production was awarded 5 Helpmann Awards,
including Outstanding Theatrical Achievement for the
design, creation and operation of the animatronic ape.
TESTIMONIALS
A NICA graduate was cast in the feature film, Partisan,
produced by Warp Films Australia. Shooting took place
in October and November 2013.
DRACULA’S RESTAURANT CONTRACT
A CircaNICA artist secured a 12 month contract
performing Burlesque Aerial Ring and Aerial Hammock
in Dracula’s new show Bloodbath.
– Nicki Lombard, Camp Quality
ent.
ainm
ntert
E
n
tio
Solu
d by
e
li
p
e sup
Imag
NICA SUPPORTERS AND PARTNERSHIPS
The National Institute of Circus Arts is supported by the Australian Government
NICA WOULD LIKE TO THANK THE FOLLOWING FOR THEIR SUPPORT:
Betty Amsden AO, John Cain, Joan and Peter Clemenger Trust, Mark and Leenah Johnston, The Hon. Rod Kemp,
John and Carolyn Kirby, Majorie H Kolawole, Margaret S. Ross AM, Kate Shelmerdine and Mary Stuart.
34
NICA.COM.AU
NATIONAL INSTITUTE OF CIRCUS ARTS LIMITED
ABN 80 084 913 235
INFO@NICA.COM.AU
37
38
NICA.COM.AU
ABN 80 084 913 235
INFO@NICA.COM.AU
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ABN 80 084 913 235
REPORT OF OPERATIONS FOR THE YEAR ENDED 31 DECEMBER 2013
GENERAL INFORMATION
National Institute of Circus Arts Limited (NICA) is
an Australian Public Company limited by guarantee
and was established on 27 October 1998 pursuant
to the general authority contained in the Swinburne
University of Technology Act 1992, superseded by
the Swinburne University of Technology Act 2010
(as amended).
The responsible Minister is the Hon. Peter Hall MP,
Minister for Higher Education and Skills. Remuneration
of the responsible Minister is disclosed in the financial
report of the Department of Premier and Cabinet.
Other relevant interests are declared in the Register of
Members interests which is completed by each member
of the Parliament.
NICA is a centre of excellence dedicated to
developing and nurturing Australia’s most talented
young contemporary circus and physical theatre
performers. NICA is a member of the Australian
Roundtable for Arts Training Excellence.
The objectives of the company are to provide quality
education and training in circus arts and physical
theatre and thereby enhance the cultural development
of the Australian arts industry.
NICA offers a three year nested vocational degree
program which equips graduates with the skills
to establish successful careers in the national and
international circus arts industry. The Company’s
community and commercial activities increase
community, industry and stakeholder awareness of
circus arts. NICA is committed to the growth of the
industry by identifying new markets, and developing
strategic partnerships which will enhance opportunities
for performance and circus innovation.
In 2013 NICA offered a Certificate III in Circus Arts
and a Certificate IV in Circus Arts, complementing the
Bachelor of Circus Arts. The three-year Bachelor of
Circus Arts currently incorporates a Diploma of Circus
Arts and an Advanced Diploma of Circus Arts.
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NICA.COM.AU
In 2013 NICA continued to demonstrate its place as
the premier provider of contemporary circus training
and education in Australia, providing opportunities to
students and staff to participate in a study tour to Auch,
France, and perform the opening acts at the prestigious
Festival Mondial du Cirque de Demain in Paris. These
activities were supported by philanthropic donors.
NICA also presented three major performance seasons
for the public this year at the NICA National Circus
Centre, one of which was created and directed by
renowned international Director Mathew Jessner.
The Richard Pratt Creative Fellowship supported this
project. NICA conducts social circus activities with
local, national and international groups through its
partnership with Cirque du Soleil. With monies raised
through the sale of tickets to a performance of Cirque
du Soliel’s show ‘Ovo’, one trainer and two students
conducted a two week outreach program in indigenous
communities in the Northern Territory.
NICA had an eventful 2013 with some changes made
mid year in response to the decision for NICA to no
longer pursue independence. In spite of encouraging
progress towards this aim, it became apparent that
NICA was not ready to proceed. A decision was
made for NICA to remain a subsidiary company of
Swinburne University.
NICA wishes to express gratitude to outgoing Directors
of the Board, The Hon. Rod Kemp, Kate Shelmerdine
and Andrew Guild for their years of service and their
commitment to the organisation. NICA also wishes to
acknowledge the former CEO and Director, Pamela
Creed for her long years of service, energy and passion.
From July 1 2013 new Board members and a Program
Manager were appointed. Swinburne remains the
accreditor of the NICA circus arts programs. The
new Program Manager, Rose Stephens, worked with
the Board of Directors to ensure business continuity.
NICA continued its professional development program
and a number of staff completed formal studies and
accredited training in 2013.
NICA alumni artist Daniel Power represented NICA
by performing and competing in the PPS Aerial
Performance Tournament, Hong Kong, for which he
was awarded second place in Professional Silks.
In the Melbourne Fringe Festival, NICA students Luke
Hubbard, Dylan Rodriguez and Angelique Ross won
‘Best Original New Circus’ for their season of ‘At The
Last Gasp’. Morgan Wilson and Tom MacDonald were
awarded ‘Best Circus’ for their show ‘We Should Quit’
which was directed by NICA Graduate Avan Whaite.
Morgan Wilson was also named ‘Best Emerging
Circus Performer’.
The 2013 performance season attracted large
audience numbers with positive press coverage.
Community program numbers rose significantly in
2013 in comparison with 2012. Over 150 young
people performed in the annual Youth Circus Finale
sponsored by the City of Stonnington.
NICA acknowledges the support from the Federal
Government through the Department of Prime Minister
and Cabinet, Office for the Arts and the Attorney
General’s Department, the Ministry for the Arts; The
Victorian Government through the Department of
Education and Early Childhood Development, and
in-kind support from Swinburne University.
NICA’S FUTURE
NICA has secured a four year funding agreement with
the Federal Government which places the organisation
in a strong position for management and security in
the future. Remaining under the umbrella of Swinburne
University also provides stability and clarity.
A four year strategic plan is currently being developed
and will be submitted to the Board early in 2014.
ADMINISTRATIVE STRUCTURE
DIRECTORS
The Directors of the company in office during the financial
year and at the date of this report were:
Prof. Jennelle Kyd (appointed as Chair from July 1 2013)
The Hon. Rod Kemp (term ended as Chair June 30 2013)
Mrs Sheila Fitzgerald (appointed July 1 2013)
Mr Andrew Guild (term ended June 30 2013)
Ms Kirsten Jeffrey (appointed July 1 2013)
Mr Ross Mollison
Mr Bryan Rossi
Mr Luke Sheehy (appointed July 1 2013)
Ms Kate Shelmerdine (term ended June 30 2013)
Mr Jeffrey Smart (appointed July 1 2013)
Mr David Stevens
Ms Mary Stuart
CHIEF EXECUTIVE OFFICER
Ms Pam Creed (until June 30 2013)
PROGRAM MANAGER
Ms Rose Stephens (appointed July 1 2013)
COMPANY SECRETARY
Mr Thomas Rowan (Appointed 26 October 2006)
Qualifications: BA , LLB (Melb)
INFO@NICA.COM.AU
41
ABN 80 084 913 235
REPORT OF OPERATIONS FOR THE YEAR ENDED 31 DECEMBER 2013 (cont.)
ADMINISTRATIVE STRUCTURE
The organisation structure of the company is as follows:
MERIT & EQUITY POLICY
FREEDOM OF INFORMATION
The company applies the merit and equity policy
which is under the umbrella of Swinburne University
of Technology and includes policies relating to
anti-discrimination, equal employment opportunity,
harassment and victimisation.
There have been no requests in 2013 under the
Freedom of Information Act 1982 (2012, nil).
WHISTLEBLOWERS PROTECTION
The Company complies with the policies and
procedures in relation to the protections provided under
the Whistleblowers Protection Act 2001 and also the
Protected Disclosure Act 2012, which superceded this
act as at 10/02/2013. The Company received one
application in 2013 (2012, nil).
OCCUPATIONAL HEALTH & SAFETY
PROGRAM
MANAGER
The company complies with relevant occupational
health and safety legislation through adherence to
the policies of Swinburne University of Technology.
Executive
Assistant
RELEVANT FINANCIAL AND OTHER INFORMATION
Operating Performance & Financial Position
OPERATIONS
MANAGER HUMAN
RESOURCES
BUSINESS MANAGER
ACADEMIC
LEADER
Business Development Officer
Marketing Manager
Finance Officer
CircaNICA Agent
Short Courses Coordinator
Administration Assistant
Student Administration Officer
OPERATIONS MANAGER
FACILITIES AND
RESOURCES
Administration Assistant
Production Manager
Production and Technical Staff
2009
2010
2011
2012
2013
$000
$000
$000
$000
$000
Revenue
4,691
5,151
5,400
5,337
6,137
Expenses
4,892
5,144
5,526
5,423
5,386
Surplus/(Deficit)
(201)
7
(126)
(86)
750
Assets
1,957
1,984
1,872
1,803
2,856
341
360
374
374
676
1,616
1,624
1,498
1,429
2,180
Liabilities
Equity
HEAD OF CIRCUS
HEAD OF
PERFORMANCE
Teaching Staff
SENIOR EDUCATOR
1st Year Degree Coordinator
2nd Year Degree Coordinator
3rd Year Degree Coordinator
Degree Staff
Cert III Coordinator
Cert IV Coordinator
Diploma Coordinator
Teaching Staff
Teaching Staff
OPERATIONAL & BUDGETARY
OBJECTIVES
The company’s operational and budgetary plans
and objectives for 2013 were consistent with the
Company’s objectives as stated in the Director’s report.
BUILDING AND COMPLIANCE
The company complies with relevant legislation
through adherence to the policies of Swinburne
University of Technology.
WORKFORCE DATA
2013
2012
FULL
TIME
PART
TIME
CASUAL*
68
16
10
114
140
45
65
20
6
102
128
92
133
36
16
216
268
FULL
TIME
PART
TIME
CASUAL*
Male
14
7
47
Female
15
5
TOTAL
29
12
TOTAL
TOTAL
*
Casuals include teaching staff for the Circa NICA Agency, Short Course and Community programs, and other
NICA activities.
109 students participated in the core program of NICA in 2013.
COMPLIANCE WITH NATIONAL
COMPETITION POLICY
DIRECTOR
Mr Bryan Rossi
Date Signed: 28/02/2014
Prahran
The company complies with relevant legislation
through adherence to the policies of Swinburne
AUDIT COMMITTEE
The company falls under the ambit of the Swinburne
University of Technology Audit and Risk Committee.
CONSULTANCIES
DIRECTOR
Prof. Jennelle Kyd
Prahran
During 2013 there were 7 consultancies.
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NICA.COM.AU
INFO@NICA.COM.AU
43
ABN 80 084 913 235
DIRECTORS’ REPORT
NAME SHEILA FITZGERALD (appointed 01/07/2013)
Your Directors present their report on the Company for the financial year ended 31 December 2013.
The financial report has been prepared in accordance with the Swinburne University of Technology Act
(Vic, 2010 as amended), the Corporations Act (Cth, 2001), and the Financial Management Act (Vic, 1994).
QUALIFICATIONS MEd (RMIT), Grad Cert Leadership Development (WMIT),
DipEd (State College of Victoria), Dip App Chem (BIT)
EXPERIENCE Acting Director of TAFE. Executive Director with Swinburne TAFE since 2005
NAME THE HON. ROD KEMP (term ended 30/06/2013)
DIRECTORS
44
QUALIFICATIONS B.Com (University of Melbourne)
The names and details of the Directors of the Company in office during the financial year or at the date
of this report are:
EXPERIENCE Director since October 2009
Former Federal Minister for the Arts and extensive experience in economics, government
and corporate relations
NAME
PROF. JENNELLE KYD
NAME MR JEFFREY SMART (appointed 01/07/2013)
QUALIFICATIONS
Doctor of Philosophy, Bachelor of Science
QUALIFICATIONS BA (Hons) (Melb), MA (Communications and Media Studies) (Monash)
EXPERIENCE
Director since July 1 2013 (Chair)
Senior Deputy Vice-Chancellor and Provost, Swinburne University of Technology
EXPERIENCE Vice-President (International and Future Students), Swinburne University of Technology Extensive experience in education
NAME
MR ANDREW GUILD (term ended 30/06/2013)
NAME MS KIRSTEN JEFFERY (appointed 01/07/2013)
QUALIFICATIONS Director since February 2000
EXPERIENCE Director, Facilities and Services Group, Swinburne University of Technology
EXPERIENCE Arts production and performance expertise
Director, Theatre Tours Australia
NAME MS KATE SHELMERDINE (term ended 30/06/2013)
QUALIFICATIONS BA (Swin)
EXPERIENCE Director since January 2007
Arts funding management & governance expertise
NAME MS MARY STUART (appointed 14/9/2011)
PRINCIPAL ACTIVITIES
QUALIFICATIONS BA (Monash), Dip Ed (Monash)
EXPERIENCE Government relations, industrial relations, industry development, best practice expertise
The Company provides training in circus arts. It was
incorporated on 27 October 1998 and commenced
operations in 1999. It is a company limited by guarantee.
NAME MR LUKE SHEEHY (appointed 01/07/2013)
EXPERIENCE
Advisor - External Engagement,
Swinburne University of Technology
Advisor to Commonwealth Minister
NAME MR DAVID STEVENS (appointed 28/08/2012)
QUALIFICATIONS BCom (Melb), FCPA, CTA
EXPERIENCE Experience in the public and private sectors providing fiscal/economic reform
and public policy advice
NAME
MR ROSS MOLLISON
QUALIFICATIONS BEc (Monash)
EXPERIENCE Director since November 2000
Marketing, advertising, and public relations expertise Director, The Production Company
NAME
MR BRYAN ROSSI
QUALIFICATIONS
BEc (La Trobe), Grd Dip BIS(Swin), MMT (Melb), CPA, GAICD
EXPERIENCE Director since August 2009
Chief Financial Officer and Vice-President (Planning and Performance),
Swinburne University of Technology
Extensive experience in financial management in Higher Education
NICA.COM.AU
COMPANY SECRETARY:
Mr Thomas Rowan (Appointed 26 October 2006)
Qualifications: BA, LLB (Melb)
REVIEW OF OPERATIONS
The financial report has been prepared for the year
ended 31 December 2013. The 2013 operating
surplus is $750,474 (2012 deficit - $86,227).
TAXATION
The Company is exempt from income tax.
DIVIDENDS
Not applicable, the Company is limited by Guarantee.
FUNDING AGREEMENTS
NICA has secured a four year funding agreement
with the Federal Government that includes additional
funding from the Creative Australia recent new grants
funds. NICA recognises this significant contribution and
welcomes the security of a four year agreement.
EVENTS SUBSEQUENT TO BALANCE DATE
There has not arisen in the interval between the end
of the financial year and the date of this report any
item, transaction, or event of a material or unusual
nature likely, in the opinion of the Directors, to affect
substantially the operations of the Company, the result
of those operations, or the state of affairs of the Company
in subsequent financial years.
LIKELY DEVELOPMENTS & EXPECTED RESULTS OF OPERATIONS
The company expects to return a positive result in 2014.
ENVIRONMENTAL REGULATION
The Directors are of the opinion that the company has
complied with all relevant environmental legislation so
far as it concerns the operations of the entity.
INDEMNIFYING OFFICER OR AUDITOR
The company has not, during or since the end of the
financial year, in respect of any person who is or
has been an officer or auditor of the company or a
related body corporate: indemnified or made any
relevant agreement for indemnifying against a liability
incurred as an officer, including costs and expenses
in successfully defending legal proceedings; or paid
or agreed to pay a premium in respect of a contract
insuring against a liability incurred as an officer for the
cost or expenses to defend legal proceedings; with the
exception of the following matter:
During or since the financial year the company has
paid premiums to insure each of the responsible
persons, which excludes the external auditor, against
liabilities for costs and expenses incurred by them in
defending any legal proceedings arising out of their
conduct while acting in the capacity of an officer of
INFO@NICA.COM.AU
45
ABN 80 084 913 235
DIRECTORS’ REPORT (cont.)
DIRECTORS’ DECLARATION
the company, other than conduct involving a wilful
breach of duty in relation to the company. The amount
of the premium was paid as part of an overall insurance
charge by the company’s parent entity, Swinburne
DIRECTORS’ BENEFITS
No Director has received or become entitled to
receive any benefit (other than a benefit included in
the aggregate amount of emoluments received or due
and receivable by Directors shown in the Company’s
accounts, or the fixed salaries of Directors who are
full-time employees of the company or a related
corporation) by reason of a contract made by the
company or a related corporation with a Director
or with a firm of which he/she is a member, or with
a company in which he/she has a substantial
financial interest.
MEETINGS OF DIRECTORS
There were 8 meetings of Directors during the financial
year. Attendances were:
ELIGIBLE
TO ATTEND
ATTENDED
Mrs Sheila Fitzgerald
(appointed 1/07/13)
3
2
Mr Andrew Guild
(term ended 30/06/13)
5
4
Ms Kirsten Jeffrey
(appointed 1/07/13)
3
2
The Hon. Rod Kemp
5
5
DIRECTORS’ AND OFFICERS’ INSURANCE
The parent entity, Swinburne University of Technology,
maintains Directors’ and officers’ liability insurance that
provides redress to the Company to the extent that it is
permitted under law to indemnify Directors and officers
for wrongful acts committed in the course of their duties.
PROCEEDINGS ON BEHALF OF COMPANY
No person has applied for leave of a Court to bring
proceedings on behalf of the company or intervene in
any proceedings to which the company is a party for
the purpose of taking responsibility on behalf of the
company for all or any part of those proceedings.
ROUNDING OF AMOUNTS
The company is a company of the kind referred to
in ASIC Class Order 98/0100, dated 10 July 1998,
and in accordance with that Class Order amounts
in the Directors’ report and the financial report are
rounded to the nearest dollar.
ECONOMIC DEPENDENCY
The company’s principle source of funding is grant
revenue from the Federal Government Arts Portfolio.
The company also received financial support in the form
of a grant from the parent entity, Swinburne University
of Technology. This grant ceased from 1 July 2013.
AUDITOR-GENERAL’S
INDEPENDENCE DECLARATION
The Directors of the company declare that:
1. The financial report of the National Institute
of Circus Arts as set out on pages 10 to 33:
a. complies with Australian accounting standards
as detailed in Note 1 to the financial statements
and the Corporations Act 2001, and
b. complies with section 44 of the Swinburne
University of Technology Act 2010, as
amended, Standing Direction 4.2 of the
Victorian Minister for Finance under the
Financial Management Act 1994, Australian
Accounting Standards, and Corporations
Regulations, and
c. gives a true and fair view of the company’s
financial position as at 31 December 2013
and of the company’s performance for the
year ended on that date.
2. In the directors’ opinion, as at the date of this
declaration, there are reasonable grounds to
believe that the company will be able to pay its
debts as and when they become due and payable.
3. We are not aware of any circumstance which
would render any particulars included in the
financial report to be misleading or inaccurate.
This declaration is made in accordance with
a resolution of the Board of Directors.
To the members of the National Institute of Circus
Arts Limited.
The Auditor-General’s independence is established
by the Victorian Constitution Act 1975.
The Auditor-General, an independent officer of the
Victorian parliament, is not subject to direction by any
person about the way in which his powers are to be
exercised. Under the Audit Act 1994, the Auditor-General
is the auditor of each public authority and for the purposes
of conducting an audit has access to all documents and
property, and may report to parliament any matters which
the Auditor-General considers appropriate.
Independence Declaration
I declare that, to the best
of my knowledge and belief, there have been:
a. no contraventions of auditor independence
requirements of the Corporations Act 2001
in relation to the audit; and
b. no contraventions of any applicable code
of professional conduct in relation to the audit.
AUDITOR-GENERAL
Mr John Doyle
This report is made in accordance with a resolution
of the Directors.
DIRECTOR
Prof. Jennelle Kyd
(appointed 1/07/13)
3
3
Mr Ross Mollison
8
0
DIRECTOR
Mr Bryan Rossi
8
5
Mr Bryan Rossi
Mr Luke Sheehy
(appointed 1/07/13)
3
1
Prahran
Ms Kate Shelmerdine
5
5
Mr Jeffrey Smart
(appointed 1/07/13)
3
3
Mr David Stevens
8
7
Ms Mary Stuart
8
8
Mr Bryan Rossi
Prahran
DIRECTOR
Prof. Jennelle Kyd
DIRECTOR
Prof. Jennelle Kyd
Prahran
Prahran
46
NICA.COM.AU
INFO@NICA.COM.AU
47
ABN 80 084 913 235
INCOME STATEMENT STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2013
Revenue from Continuing Operations
NOTE
2013 / $
2012 / $
4.1
6,136,519
5,336,898
Expenses from Continuing Operations
Employee Expenses
4.2
NOTE
2013 / $
2012 / $
Cash and Cash Equivalents
5
1,749,454
69,905
Receivables
8
30,482
–
Other Current Assets
6
49,325
469,520
1,829,261
539,425
7
1,026,647
1,107,355
15(d)
–
156,527
CURRENT ASSETS
3,390,736
3,451,668
9,274
16,514
Promotion Expense
72,946
91,424
Production Cost
64,825
91,736
364,790
323,237
Repairs and Maintenance (Buildings)
11,692
10,064
Repairs and Maintenance (Equipment)
67,900
40,408
TOTAL NON-CURRENT ASSETS
1,026,647
1,263,882
Consumables
80,259
76,096
TOTAL ASSETS
2,855,908
1,803,307
177,795
83,829
7,816
44,093
Communications
Professional Service Fee
Travel Expenses
Equipment
Depreciation
4.2
89,417
95,160
Other Expenses
4.2
1,028,071
1,086,457
Audit Fee
4.2
20,525
12,439
5,386,045
750,474
NET OPERATING RESULT FOR THE YEAR
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Property, Plant and Equipment
Inter Company Receivables
CURRENT LIABILITIES
Accounts Payable
10
18,475
27,050
Other Creditors
10
118,497
–
5,423,125
Accrued expenses
10
144,438
12,201
(86,227)
Employee benefits
9
354,443
275,895
635,853
315,146
40,537
59,119
40,537
59,119
676,390
374,265
2,179,518
1,429,042
TOTAL CURRENT LIABILITIES
The above Income Statement should be read in conjunction with the accompanying notes.
NON-CURRENT LIABILITIES
Employee benefits
STATEMENT OF COMPREHENSIVE INCOME TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES
NOTE
Net operating result for the year
2013 / $
2012 / $
750,474
(86,227)
–
17,374
9
NET ASSETS
Other comprehensive income after income tax:
Gain (loss) on revaluation of land and buildings
11
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR
750,474
TOTAL COMPREHENSIVE
INCOME ATTRIBUTABLE TO NICA
750,474
Reserves
11
114,735
114,735
(68,853)
Retained earnings/(accumulated losses)
12
2,064,783
1,314,307
(68,853)
TOTAL EQUITY
2,179,518
1,429,042
The above Statement of Comprehensive Income should be read in conjunction with the accompanying notes.
48
NICA.COM.AU
EQUITY
The above Statement of Financial Position should be read in conjunction with the accompanying notes.
INFO@NICA.COM.AU
49
ABN 80 084 913 235
STATEMENT OF CHANGES IN EQUITY CASH FLOW STATEMENT
NOTE
Balance at 1 January 2012
RETAINED
EARNINGS
$
RESERVES
TOTAL
$
$
1,400,534
97,361
1,497,895
12
(86,227)
–
(86,227)
Other comprehensive income
for the year
11
–
17,374
17,374
1,314,307
114,735
1,429,042
2012
$
6,763,041
5,109,279
29,915
23,287
578,311
471,044
(218,552)
(235,900)
Payments to Employees
(3,330,770)
(3,437,165)
Payments to suppliers (Inclusive of GST)
(2,133,689)
(1,999,255)
1,688,257
(68,710)
(14,788)
(7,600)
6,079
-
(8,709)
(7,600)
(Repayment)/Proceeds from borrowings
–
–
NET CASH INFLOW/(OUTFLOW)
FROM FINANCING ACTIVITIES
–
–
1,679,548
(76,310)
69,905
146,215
1,749,453
69,905
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers (inclusive of GST)
Interest received
Other revenue
BALANCE AT 31 DECEMBER 2012
12
750,474
–
750,474
Other comprehensive income
for the year
11
–
–
–
2,064,783
114,735
2,179,518
BALANCE AT 31 DECEMBER 2013
2013
$
NOTE
The above Statement of Changes in Equity should be read in conjunction with the accompanying notes.
Receipt/(payment) of Gst from/(to) ATO
NET CASH INFLOW/(OUTFLOW)
FROM OPERATING ACTIVITIES
17
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for property, plant and equipment
Receipts from disposals
NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
NET INCREASE/(DECREASE) IN CASH
AND CASH EQUIVALENTS
Cash and cash equivalents at the beginning
of the financial year
CASH AND CASH EQUIVALENTS
AT THE END OF THE YEAR
5 / 16
The above Cash Flow Statement should be read in conjunction with the accompanying notes.
50
NICA.COM.AU
INFO@NICA.COM.AU
51
ABN 80 084 913 235
NOTE 1. STATUTORY REPORTING
REQUIREMENTS
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013
52
The company has applied the revised AASB 101
Presentation of Financial Statements (2007) from
1 January 2009. The revised AASB 101 require all
income and expenses to be presented in either one
statement - the statement of comprehensive income,
or two statements - an income statement and a
statement of comprehensive income. The company
has presented all income and expenses in two
statements - an income statement and a statement
of comprehensive income.
The presentation requirements have been applied
for the entire reporting period and comparative
information has been re-presented to also comply
with the revised AASB 101.
b.
REVENUE RECOGNITION
Revenue is measured at the fair value of the
consideration received or receivable. Amounts
disclosed as revenue are net of duties and taxes
paid. Revenue is recognised for the major business
activities as follows:
- Government financial assistance revenue is
recognised in the year to which funding relates
as determined by the bodies providing the
financial assistance.
- Interest revenue is recognised on a proportional
basis taking into account the interest rates
applicable to the financial assets.
- Fees and Charges
Fees include amounts received or receivable
in respect of consulting and course delivery.
Consulting revenue is recognised after completion
of the service and clients have been invoiced. Fees
relating to course delivery are recognised in the
year in which courses commence.
c.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents includes cash on hand,
deposits held at call with financial institutions, other
short-term highly liquid investments with original
maturities of three months or less that are readily
convertible to known amounts of cash and which
are subject to an insignificant risk of changes in
value, and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities on
the statement of financial position.
The financial report of the National Circus Arts Limited
for the year ended 31 December 2013 has been
prepared pursuant to section 44 of the Swinburne
University of Technology Act 2010, as amended,
the Financial Management Act 1994 and the
Corporations Act 2001.
NOTE
CONTENTS
1
Statutory Reporting Requirements
53
2
Significant Accounting Policies
53
3
Financial Risk Management
58
4
Income And Expenditure From Continuing Activities
62
5
Cash And Cash Equivalents
63
6
Other Current Assets
64
7
Property, Plant And Equipment
64
8
Receivables
66
9
Employee Benefits
67
10
Other Current Liabilities
68
11
Reserves
68
12
Retained Earnings (Accumulated Losses)
68
13
Segment Information
69
14
Company Structure
69
15
Related Party Disclosure
69
HISTORICAL COST CONVENTION
16
Reconciliation Of Cash
71
17
Reconciliation Of Net Operating Result For The Year To Net Cash
Flows From Operating Activities
72
The financial report has been prepared on accrual
basis, under the historical cost convention, as
modified by the revaluation of certain classes
of property, plant and equipment to fair value.
18
Contingent Liabilities And Contingent Assets
72
CRITICAL ACCOUNTING ESTIMATES
19
Operating Lease Commitments
73
20
Capital Commitments
73
21
Superannuation Funds
73
22
Company Details
73
23
Events Occurring After Balance Date
73
24
Subsequent Events
73
25
Economic Dependency
74
26
Fair Value
74
The preparation of the financial report in conformity
with Australian Accounting Standards requires the
use of certain critical accounting estimates. It also
requires management to exercise its judgement in
the process of applying the National Institute of
Circus Arts accounting policies. The areas involving
a higher degree of judgement or complexity,
or areas where assumptions and estimates are
significant to the financial report, are the valuation
of non-current assets (such as buildings).
The company obtains external advice in the
calculation of these estimates.
NICA.COM.AU
PAGE
PRESENTATION OF FINANCIAL STATEMENTS
NOTE 2. SIGNIFICANT
ACCOUNTING POLICIES
The National Institute of Circus Arts Limited is a
company limited by guarantee, incorporated and
domiciled in Australia. The accounting policies have
been consistently applied, unless otherwise stated.
The following is a summary of the material accounting
policies adopted by the company in the preparation
of the financial report.
a.
BASIS OF PREPARATION
This general purpose financial report has been
prepared in accordance with Australian Accounting
Standards, and Interpretations, other authoritative
pronouncements of the Australian Accounting
Standards Board, Swinburne University of
Technology Act 2010, the Financial Management
Act 1994, and the Corporations Act 2001.
INFO@NICA.COM.AU
53
ABN 80 084 913 235
2. SIGNIFICANT ACCOUNTING POLICIES (cont.)
d.
OTHER FINANCIAL ASSETS
Loans and receivables
Loans and receivables are measured at amortised
cost. 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 reporting period,
which are classified as non-current assets. Loans
and receivables are included in receivables in the
statement of financial position.
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
following end of month of invoice.
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 entity will not be able
to collect all amounts due according to the original
terms of receivables.
e.
TRADE AND OTHER PAYABLES
These amounts represent liabilities for goods and
services provided to the entity prior to the end of
the financial year, which are unpaid. The amounts
are unsecured and are usually paid within 30 days
following end of month of invoice.
f.
EMPLOYEE BENEFITS
in respect of services provided by employees up
to the reporting date. As it is probable that leave
entitlements, which are non-vesting, will exceed
leave taken, no liability is deemed to have
existed as at 31 December 2013 (2012, nil).
54
NICA.COM.AU
NON-CURRENT PHYSICAL ASSETS
Leasehold improvements are measured at fair value.
National Institute of Circus Arts does not own
Land. Buildings improvements are measured at
the amounts for which assets could be exchanged
between knowledgeable willing parties in an arm’s
length transaction.
Plant and equipment are measured at fair value.
Depreciation is calculated using the straight line
method to allocate the cost or revalued amounts,
net of their residual values, over their estimated
useful lives, commencing from the time the asset
is held ready for use.
The assets’ residual values and useful lives are
reviewed, and adjusted if appropriate, at each
balance date.
Revaluations
The company revalues its Building improvements
every three years, with the last scheduled
independent revaluation completed in December
2013. The fair value of the asset class is reviewed
on an annual basis and amended if any material
variations exist. Revaluation increments or
decrements arise from differences between an
asset’s carrying value or fair value.
Revaluation increments are credited directly to
equity in an 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
in determining the net result, the increment is
recognised as revenue in determining the net result.
Revaluation decrements are recognised
immediately as expenses in the net result, except
that, to the extent that a credit balance exists in an
asset revaluation reserve in respect of the same
class of assets, they are debited to the revaluation
reserve. Revaluation increments and revaluation
decrements relating to individual assets within each
specific class of property, plant and equipment are
offset against one another within that class but are
not offset in respect of assets in different classes.
h.
ACQUISITION OF ASSETS
The purchase method of accounting is used to
account for all acquisitions of assets (including
business combinations) regardless of whether
equity instruments or other assets are acquired.
Cost is measured as the fair value of the assets
given, shares issued, or liabilities incurred or
assumed at the date of exchange plus costs directly
attributable to the acquisition.
ii. Long service leave
The liability for long service leave is recognised
and is measured as the present value of
expected future payments to be made in respect
of services provided by employees up to the
reporting date. The company determines that
portion expected to be paid in the year which
is measured at nominal value and the remainder
measured at net present value. Consideration
is given to expected future wage and salary
levels, experience of employee departures and
periods of service. Expected future payments are
discounted using market yields at the reporting
date on national government bonds with terms
to maturity and currency that match, as closely
as possible, the estimated future cash outflows.
A liability for employee benefits in the form of
performance bonuses are recognised in employee
entitlements when there is no realistic alternative
but to settle the liability and at least one of the
following conditions is met: there are formal terms
for determining the amount of the benefit; the
amounts to be paid are determined before the
time of completion of the financial report; or past
practice gives clear evidence of the amount of the
obligation. Liabilities for performance bonuses are
expected to be settled within 12 months and are
measured at the amounts expected to be paid
when they are settled.
iv. Superannuation
The amount charged to the income statement
in respect of superannuation represents
the contributions made by the entity to the
superannuation plans in respect to the current
services of current entity staff. Superannuation
contributions are made to the plans based on
the relevant rules of each plan.
v. Employee benefit oncosts
Employee benefit oncosts, including payroll
tax, are recognised and included in employee
benefit liabilities and costs when the employee
benefits to which they relate are recognised
as liabilities.
The company has adopted the Valuers approach
for the classification of building components which
are based on specifications issued by the Australian
Procurement and Construction Council. The Building
and building components have therefore been
re-classified under the following categories:
Structure/Shell/Building Fabric: inclusive of
substructure, columns, floor, upper floors, staircases,
roof, external walls, windows.
Site Engineering Services and central plant:
inclusive of roads, footpaths, paved areas,
boundary walls, covered ways, fencing, gates,
outbuildings, landscaping improvements,
external stormwater drainage, external water
supply, external gas, fire protection, electricity,
communications, and special services.
iii. Performance Bonus
i. W
ages and salaries, annual leave, and
sick leave
Liabilities for wages and salaries, including
non-monetary benefits, annual leave, and
accumulating sick leave expected to be settled
within 12 months of the reporting date are
recognised as a liability at their nominal values
using the remuneration rate expected to apply
at the time of settlement. Liabilities which are
not expected to be settled within 12 months are
measured at the present value of the estimated
future cash flows to be made by the University
g.
Fit out: inclusive of external doors, internal walls,
ceilings, fitments (incl. wall and floor coverings),
sanitary fixtures and special equipment.
Trunk Reticulated Building Systems: inclusive of
lifts, escalators, walkways, cranes, hoists etc.,
centralised energy, and other.
The company incorporates different depreciation
rates, based on estimated useful lives, for items
of plant within buildings as follows:
Buildings
42 Years (2012: 42 Years)
Site Engineering Services and central plant
42 years (2012: 42 years)
Fit out
Trunk Reticulated Building Systems
Gains and losses on disposals are determined
by comparing proceeds with carrying amount.
These are included in the income statement. When
revalued assets are sold, it is company policy to
transfer the amounts included in the relevant asset
revaluation reserve in respect of those assets to
retained earnings.
INFO@NICA.COM.AU
55
ABN 80 084 913 235
i.
IMPAIRMENT OF ASSETS
All assets are assessed annually for indicators of
impairment. If there is an indication of impairment,
the asset concerned is tested as to whether its
carrying value exceeds its recoverable amount.
Where an asset’s carrying amount exceeds its
recoverable amount, the difference is written-off as
an expense in the income statement except to the
extent that the write-down can be debited to an
asset revaluation reserve amount applicable to that
class of asset.
j.
INCOME TAX
The National Institute of Circus Arts Ltd is exempt
from income tax pursuant to section 23(e) of the
Income Tax Assessment Act 1936, as amended.
k.
WEB SITE COSTS
Costs in relation to web sites controlled by the
company are charged as expenses in the year
in which they are incurred unless they relate to
the acquisition of an asset, in which case they
are capitalised and amortised over the period
of expected benefits. Generally, costs in relation
to feasibility studies during the planning phase
of a web site, and ongoing costs of maintenance
during the operating phase are considered to be
expenses. Costs incurred in building or enhancing
a web site, to the extent that they represent
probable future economic benefits controlled
by the entity that can be reliably measured, are
capitalised as an asset and amortised over the
period of the expected benefits which vary from
three to five years.
l.
ROUNDING OF AMOUNTS
The company is of a kind referred to in Class Order
98/0100, issued by the Australian Securities and
Investments Commission, relating to the “rounding
off” of amounts in the financial report. Amounts in the
financial report have been rounded in accordance
with that Class Order to the nearest dollar.
m. AUSTRALIAN
ACCOUNTING
STANDARDS, AMENDMENTS AND
INTERPRETATIONS ISSUED BUT NOT
YET EFFECTIVE
The AASB has issued new and amended Accounting
Standards and Interpretations that have mandatory
application dates for future reporting periods and
which the company has decided not to early adopt.
A discussion of those future requirements and their
impact on the company is as follows:
■■ AASB 12 Disclosure of Interests in Other
Entities for reporting period beginning on or
after 1 January 2014 - This Standard requires
disclosure of information that enables users
of financial statements to evaluate the nature
56
NICA.COM.AU
■■ AASB 9 Financial Instruments for reporting
periods beginning on or after 1 January
2015 - This standard simplifies requirements
for the classification and measurement of
financial assets resulting from Phase 1 of the
IASB’s project to replace IAS 39 Financial
Instruments: Recognition and Measurement
(AASB 139 Financial Instruments: Recognition
and Measurement). Subject to AASB’s further
modifications to AASB 9, together with the
anticipated changes resulting from the staged
projects on impairments and hedge accounting,
details of impacts will be assessed.
■■ AASB 10 Consolidated Financial Statements
for reporting periods beginning on or after
1 January 2014 - This Standard forms the
basis for determining which entities should be
consolidated into an entity’s financial statements.
AASB 10 defines ‘control’ as requiring exposure
or rights to variable returns and the ability to
affect those returns through power over an
investee, which may broaden the concept of
control for public sector entities.
The AASB has issued an exposure draft ED 238
Consolidated Financial Statements – Australian
Implementation Guidance for Not-for-Profit
Entities that explains and illustrates how the
principles in the Standard apply from the
perspective of not-for-profit entities in the private
and public sectors.
The AASB have finalised deliberations on ED
238 and any modifications made to AASB 10 for
not-for-profit entities, the entity will need to re-assess
the nature of its relationships with other entities,
including those that are currently not consolidated.
■■ AASB 2011-2 Amendments to Australian
Accounting Standards arising from the TransTasman Convergence Project – Reduced
Disclosure Requirements.
of, and risks associated with, interests in other
entities and the effects of those interests on the
financial statements. This Standard replaces the
disclosure requirements in AASB 127 Separate
Financial Statements and AASB 131 Interests in
Joint Ventures.
The exposure draft ED 238 proposes to add
some implementation guidance to AASB 12,
explaining and illustrating the definition of a
‘structured entity’ from a not-for-profit perspective.
Accounting Standards - Orderly adoption
of Changes to the ABS GFS Manual and
Related Amendments.
Accounting Standards to Remove Individual Key
Management Personnel Disclosure Requirements.
Impacts on the level and nature of the disclosures
will be assessed based on the eventual implications
arising from AASB 10, AASB 11 and AASB 128
Investments in Associates and Joint Ventures.
Accounting Standards – Extending Relief
from Consolidation, the Equity Method and
Proportionate Consolidation – Reduced
■■ AASB 127 Separate Financial Statements for
reporting period beginning on or after 1 January
2014 - This revised Standard prescribes the
accounting and disclosure requirements for
investments in subsidiaries, joint ventures and
associates when an entity prepares separate
financial statements. The impact of this standard
will need to be assessed in line with the final
deliberations by the AASB on the application
of this standard to not for profit entities.
Accounting Standards arising from the
Consolidation and Joint Arrangements Standards.
■■ AASB 2011-11 Amendments to AASB 119
(September 2011) arising from Reduced
Accounting Standards arising from Interpretation 20
■■ AASB 128 Investments in Associates and Joint
Ventures for reporting period beginning on or
after 1 January 2014 - This revised Standard
sets out the requirements for the application
of the equity method when accounting for
investments in associates and joint ventures.
The impact of this standard will need to be
assessed in line with the final deliberations by
the AASB on the application of this standard
to not for profit entities.
■■ 2012-1 Amendments to Australian Accounting
Standards – Fair Value Measurement – Reduced
Standards – Disclosures – Offsetting Financial
Assets and Financial Liabilities.
Standards – Offsetting Financial Assets and
Financial Liabilities.
In addition to the new standards above, the AASB
has issued a list of amending standards that are not
effective for the 2013 reporting period (as listed
below). In general, these amending standards
include editorial and references changes that
are expected to have insignificant impacts on the
company’s reporting. The two AASB Interpretations
in the list below are also not effective for the
2013 reporting period and considered to have
insignificant impacts on the company.
Accounting Standard - Improvements to
AASB 1049.
■■ AASB 2010-10 Further Amendments to
Australian Accounting Standards – Removal
of Fixed Dates for First-time Adopters.
Standards arising from Annual Improvements
2009–2011 Cycle.
Standards arising from Reduced Disclosure
Requirements.
■■ 2013-3 Amendments to AASB 136 - Recoverable
Amount Disclosures for Non Financial Assets
The company does not anticipate early adoption
of any of the above Australian Accounting Standards
or Interpretations.
INFO@NICA.COM.AU
57
ABN 80 084 913 235
n.
CHANGE IN ACCOUNTING POLICY
o.
CHANGE IN ACCOUNTING ESTIMATE
In past years, the University has treated transactions
between the parent and its controlled entities under
the classification of Non-Current Assets/Liabilities
as all receipts and payments and transactions
are processed through a centralised automated
system. The university has reviewed this accounting
treatment and changed the classification of
these transactions to represent Inter- Entity Cash
and directed transactions into the classification
as “Cash and Cash Equivalents” under Current
Assets.The effect of this change is to identify in the
balance sheet, the cash component that would be
applicable between the parent entity and its
controlled entities.
In previous years the University has depreciated
Leasehold Improvements in line with the expected
useful life of the asset. The University has reviewed
this accounting treatment and these assets are
now depreciated in line with the leasehold term.
The company is a fully owned subsidiary of the
University, and is obliged to maintain accounting
policies as determined by the University. An
assessment was made of leasehold improvements
and associated lease commitments, which has
resulted in a recalculation of the useful life of
these assets.
As the company is a fully owned subsidiary of the
university it is obliged to maintain the accounting
policies as determined by the university.
COST
Leasehold
Improvements
ORIGINAL
ACCUMULATED
DEPRECIATION
25,455
RECALCULATED
ACCUMULATED
DEPRECIATION
5,571
CLOSING NET
CARRYING
AMOUNT
(OLD)
19,594
19,884
CLOSING NET
CARRYING
AMOUNT
(NEW)
5,861
RECOGNISED
FINANCIAL
INSTRUMENTS
NOTE
ACCOUNTING POLICIES
TERMS AND
CONDITIONS
Cash and cash
equivalents
5
Cash at bank is carried at the principal
amount. Interest received on any bank
balance is recognised as income when
the bank account is credited. Interest
receivable at balance date is accounted
for by crediting revenue and debiting
Accrued Income in the statement of
financial position.
Interest is paid monthly,
at the prevailing bank rate,
based on the average credit
balance in the bank account.
Receivables –
debtors
8
Debtors are carried at the nominal
amounts due less any provision for
doubtful debts and impairment.
A doubtful debts provision is made for any
amounts which are considered unlikely to
be collectable, or are impaired.
Credit is allowed for
a 30 day term.
Payables
10
Payables are recognised for future
amounts to be paid in respect of goods
and services received, whether or not
billed to the company.
Settlement of payables is
normally effected 30 days
after the end of the month
the debt is incurred
The company’s activities expose it to a variety of financial market risks (including interest rate risk, credit risk and
liquidity risk) which are managed by the central treasury function within the Corporate Finance department of
Swinburne University of Technology.
b.
SUMMARISED SENSITIVITY ANALYSIS
Market Risk
i. Interest rate risk
NOTE 3. FINANCIAL RISK MANAGEMENT
a.
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The company’s financial instruments primarily comprise of:
- Cash and cash equivalents;
- Receivables; and
- Payables.
Details of significant accounting policies and methods adopted, including the criteria for recognition and the
basis for measurement are disclosed below:
58
NICA.COM.AU
The Company’s exposure to market risk for changes in interest rates relates primarily to short term investments.
2013 ANALYSIS
The following table summarises the sensitivity of the Company’s financial assets and financial liabilities to interest rate risk.
INTEREST RATE RISK
-2%
2%
CARRYING AMOUNT
RESULT
EQUITY
RESULT
EQUITY
$’000
$’000
$’000
$’000
$’000
Financial Assets
Cash and Cash Equivalents
1,621
(32)
(32)
32
32
TOTAL INCREASE /
DECREASE
1,621
(32)
(32)
32
32
INFO@NICA.COM.AU
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ABN 80 084 913 235
3. FINANCIAL RISK MANAGEMENT (cont.)
2012 ANALYSIS
d.
LIQUIDITY RISK
The Company’s objective is to maintain a level of liquidity in relation to the funding of its operations.
AGING ANALYSIS OF CONTRACTUAL FINANCIAL LIABILITIES
The following table summarises the sensitivity of the Company’s financial assets and financial liabilities to interest
rate risk.
The following table summarises the aging analysis of contractual financial liabilities.
INTEREST RATE RISK
-2%
RESULT
EQUITY
RESULT
EQUITY
$’000
$’000
$’000
$’000
$’000
146
(3)
(3)
3
3
TOTAL INCREASE /
DECREASE
146
CARRYING
AMOUNT
NOT PAST DUE &
NOT IMPAIRED
LESS THAN
1 MONTH
$
$
$
$
18,475
18,475
–
–
–
Accrued Expenses
144,438
144,438
–
–
–
Other Creditors
118,497
118,497
–
–
–
TOTAL
118,497
118,497
–
–
–
2012 Payables
27,050
27,050
–
–
–
12,200
12,200
–
–
–
–
–
–
–
–
39,250
39,250
–
–
–
2%
CARRYING AMOUNT
Financial Assets Cash
and Cash Equivalents
CREDIT RISK AGING ANALYSIS - LIABILITIES
(3)
(3)
3
3
2013 Payables
c.
CREDIT RISK AGING ANALYSIS
Accrued Expenses
Credit Risk
Other Creditors
The company does not have any material or significant credit risk exposure to any group of receivables.
TOTAL
1-3 MONTHS
3 MONTHS
- 1 YEAR
$
AGING ANALYSIS OF CONTRACTUAL FINANCIAL ASSETS
The following table summarises the aging analysis of contractual financial assets.
CREDIT RISK AGING ANALYSIS - ASSETS
60
CARRYING
AMOUNT
NOT PAST DUE &
NOT IMPAIRED
LESS THAN
1 MONTH
$
$
$
$
2013 Receivables
30,482
27,493
1,427
1,563
–
TOTAL
30,482
27,493
1,427
1,563
–
2012 Receivables
–
–
–
–
–
TOTAL
–
–
–
–
–
NICA.COM.AU
1-3 MONTHS
e.
FAIR VALUE ESTIMATION
Management consider that the carrying amount of financial assets and liabilities approximate their fair values
because of the short term nature of the financial instruments and the expectation they will be paid in full.
3 MONTHS
- 1 YEAR
$
INFO@NICA.COM.AU
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ABN 80 084 913 235
NOTE 4. INCOME & EXPENDITURE FROM CONTINUING OPERATIONS
2013
2012
$
$
154,694
131,971
4.2 EXPENSES FROM CONTINUING OPERATIONS (cont.)
4.1 REVENUE FROM OPERATING ACTIVITIES
2013
2012
$
$
OTHER EXPENSES
Rental expense on operating leases
Fees and charges
1,437,917
1,154,503
Donations, scholarships, and sponsorships
189,075
107,431
of Technology in supporting the entity
587,221
735,362
Other operating receipts
638,311
471,044
Staff development
187,571
167,258
3,189,500
2,235,103
98,585
51,866
Victorian Government grants
284,120
610,168
1,028,071
1,086,457
Swinburne University of Technology grant
367,681
735,362
6,106,604
5,313,611
Auditor-General of Victoria
20,525
12,439
TOTAL AUDIT FEE
20,525
12,439
Commonwealth Government grants
REVENUE FROM NON-OPERATING ACTIVITIES
Interest
TOTAL REVENUE FROM CONTINUING OPERATIONS
29,915
23,287
6,136,519
5,336,898
Overhead cost incurred by Swinburne University
Other expenses
TOTAL OTHER EXPENDITURE
AUDIT FEE
NOTE 5. CASH AND CASH EQUIVALENTS
4.2 EXPENSES FROM CONTINUING OPERATIONS
2013
2012
$
$
EMPLOYEE BENEFITS
Salaries
2,769,124
2,790,252
Superannuation
260,401
270,574
Payroll Tax
149,825
173,383
Annual leave
176,958
180,648
3,356,308
3,414,857
TOTAL EMPLOYEE BENEFITS
OTHER EMPLOYEE RELATED COSTS
Work cover
TOTAL EMPLOYEE EXPENSES
34,428
36,811
3,390,736
3,451,668
DEPRECIATION OF NON-CURRENT ASSETS
62
Building improvements
55,655
68,974
Leasehold improvements
14,646
621
Office furniture and equipment
19,116
25,565
TOTAL DEPRECIATION EXPENSE
89,417
95,160
NICA.COM.AU
2013
2012
$
$
Cash at bank and in hand
1,749,454
69,905
TOTAL CASH AND CASH EQUIVALENTS
1,749,454
69,905
a.
RECONCILIATION TO CASH AT THE END OF THE YEAR
The above figures are reconciled to cash at the end of the financial year as shown in the cash flow statement as
follows:
Balances as above
1,749,454
69,905
Balances as per cash flow statement
1,749,453
69,905
b.
CASH AT BANK AND ON HAND
Bank accounts consist of an investment account, an high interest bearing account, operating accounts and Public
Fund account all of which generate interest.
Interest on average credit balance in the bank is calculated at the prevailing bank rate at 2.56% (2012: 4.70%).
INFO@NICA.COM.AU
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ABN 80 084 913 235
NOTE 6. OTHER CURRENT ASSETS
2013
2012
$
$
Prepayments
29,907
54,520
Accrued Income
19,418
415,000
TOTAL OTHER CURRENT ASSETS
49,325
469,520
NOTE 7. PROPERTY PLANT AND EQUIPMENT
2013
2012
$
$
1,060,144
1,255,458
(55,655)
(195,314)
1,004,489
1,060,144
25,455
25,455
(19,594)
(4,948)
5,861
20,507
Office furniture and equipment
759,819
751,120
less accumulated depreciation
(743,522)
(724,416)
16,297
26,704
1,026,647
1,107,355
Building improvements
Leasehold improvements
TOTAL PROPERTY PLANT AND EQUIPMENT
64
NICA.COM.AU
a.
Movements in carrying amounts
Movement in the carrying amounts for each class of property , plant and equipment between the beginning
and the end of the current financial year:
BUILDING
IMPROVEMENTS
LEASEHOLD
IMPROVEMENTS
OFFICE
FURNITURE &
EQUIPMENT
TOTAL
$
$
$
$
1,060,144
20,507
26,704
1,107,355
Additions
-
-
14,788
14,788
Disposals
-
-
(6,079)
(6,079)
Impairment of Assets
-
-
-
-
Revaluation Increments/
(Decrements)
-
-
-
-
(55,655)
(14,646)
(19,116)
(89,417)
1,004,489
5,861
16,297
1,026,647
Fair value
1,255,458
25,455
751,120
2,032,033
Accumulated depreciation
and impairment
(195,314)
(4,948)
(724,416)
(924,678)
1,060,144
20,507
26,704
1,107,355
1,060,144
25,455
759,819
1,845,418
(55,655)
(19,594)
(743,522)
(818,771)
1,004,489
5,861
16,297
1,026,647
Carrying amount at
1 January 2013
Depreciation Expense
CARRYING AMOUNT
AT 31 DECEMBER 2013
AT 1 JANUARY 2013
NET CARRYING
AMOUNT
AT 31 DECEMBER 2013
Fair value
and impairment
NET CARRYING
AMOUNT
INFO@NICA.COM.AU
65
ABN 80 084 913 235
7. PROPERTY PLANT AND EQUIPMENT (cont.)
LEASEHOLD
IMPROVEMENTS
OFFICE
FURNITURE &
EQUIPMENT
TOTAL
$
$
$
$
1,104,144
21,128
52,269
1,177,541
Additions
7,600
-
-
7,600
Disposals
-
-
-
-
Impairment of Assets
-
-
-
-
17,374
-
-
17,374
Revaluation Increments/
(Decrements)
Depreciation Expense
CARRYING AMOUNT
AT 31 DECEMBER 2012
2012
$
Annual Leave
176,850
131,930
Long service leave
177,593
143,965
TOTAL CURRENT
354,443
275,895
Long service leave
40,537
59,119
TOTAL NON-CURRENT
40,537
59,119
354,443
275,895
40,537
59,119
394,980
335,014
Annual Leave
96,258
102,905
Long service leave
39,070
31,672
135,328
134,577
77,738
29,025
138,523
112,293
216,260
141,318
133
268
Weighted average increase in employee costs
4.31%
4.00%
Weighted average discount rates
3.31%
3.49%
NON-CURRENT
AGGREGATE CARRYING AMOUNT
Current
Non-Current
(68,974)
(621)
(25,565)
(95,160)
1,060,144
20,507
26,704
1,107,355
AT 1 JANUARY 2012
Fair value
1,282,540
25,455
758,882
2,066,877
and impairment
(178,396)
(4,327)
(706,613)
(889,336)
NET CARRYING
AMOUNT
2013
$
CURRENT
BUILDING
IMPROVEMENTS
Carrying amount at
1 January 2012
NOTE 9. EMPLOYEE BENEFITS
1,104,144
21,128
52,269
1,177,541
TOTAL EMPLOYEE BENEFITS
CURRENT PROVISIONS EXPECTED
TO BE SETTLED WITHIN 12 MONTHS
CURRENT PROVISIONS EXPECTED
TO BE SETTLED AFTER MORE THAN 12 MONTHS
Annual Leave
Long service leave
AT 31 DECEMBER 2012
Fair value
1,255,458
25,455
751,120
2,032,033
and impairment
(195,314)
(4,948)
(724,416)
(924,678)
NET CARRYING
AMOUNT
1,060,144
20,507
26,704
1,107,355
Employee numbers during the reporting year
The following assumptions were adopted in measuring
the present value of long service leave entitlements:
NOTE 8. RECEIVABLES
2013
2012
$
$
Receivables
106,532
–
Less: Provision for Doubtful Debts
(76,050)
–
30,482
–
TOTAL RECEIVABLES
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NICA.COM.AU
The Annual Leave liability is calculated at the nominal value of the wholly payable amounts to be made in respect
of services provided by employees up to the reporting date. Where employees have significant annual leave
balances, an estimate is made of the probability of leave to be taken within 12 months and beyond 12 months.
The amount of annual leave estimated to be taken beyond 12 months is discounted.
The liability for Long Service Leave is calculated as the present value of expected future payments to be made in
respect of services provided by employees up to the reporting date. Long Service Leave is available to be taken
after 10 years of service but is historically taken much later. However, the company allows for long service leave
to be taken on a pro-rata basis on termination after 7 year of service.
INFO@NICA.COM.AU
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ABN 80 084 913 235
NOTE 10. OTHER CURRENT LIABILITIES
NOTE 13. SEGMENT INFORMATION
2013
$
2012
$
18,475
27,050
18,475
27,050
118,497
–
Accrued Expenses
144,438
12,200
TOTAL OTHER CURRENT LIABILITIES
281,411
39,250
The company operates in the educational sector in the state of Victoria.
ACCOUNTS PAYABLE
Accounts Payable
OTHER CREDITORS
Other Creditors
NOTE 14. COMPANY STRUCTURE
The company’s ultimate parent entity is Swinburne University of Technology.
NOTE 15. RELATED PARTY DISCLOSURES
ACCRUED EXPENSES
a.
DIRECTORS
The names of the persons who were directors of National Institute of Circus Arts Ltd during the financial year were:
Prof. Jennelle Kyd (appointed as Chair from July 1 2013)
The Hon. Rod Kemp (term ended as Chair June 30 2013)
Mrs Sheila Fitzgerald (appointed July 1 2013)
Mr Andrew Guild (term ended June 30 2013)
Ms Kirsten Jeffrey (appointed July 1 2013)
Mr Ross Mollison
Mr Bryan Rossi
Mr Luke Sheehy (appointed July 1 2013)
MOVEMENTS IN RESERVES
Ms Kate Shelmerdine (term ended June 30 2013)
Asset revaluation reserve - Buildings Improvements
Mr Jeffrey Smart (appointed July 1 2013)
NOTE 11. RESERVES
2013
$
2012
$
114,735
114,735
114,735
114,735
ASSET REVALUATION RESERVE
Building Improvements
Balance at 1 January
Movements in the year
BALANCE AT 31 DECEMBER
114,735
97,361
Mr David Stevens
–
17,374
Ms Mary Stuart
114,735
114,735
The asset revaluation reserve is used to record asset revaluation increments and decrements in the value
of non-current physical assets.
Income received or due and receivable by the directors of the
company, including amounts received, or due and receivable
from related corporations.
NOTE 12. RETAINED EARNINGS (ACCUMULATED LOSSES)
Retained earnings at 1 January
Net operating result attributable to members
RETAINED EARNINGS AT 31 DECEMBER
68
NICA.COM.AU
2013
$
2012
$
1,314,307
1,400,534
750,474
(86,227)
2,064,781
1,314,307
2013
$
2012
$
1,835,892
788,554
Included in the number of directors whose remuneration bands disclosed below are three directors who are
employees of Swinburne University of Technology and thus their salary is paid by the University.
INFO@NICA.COM.AU
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ABN 80 084 913 235
15. RELATED PARTY DISCLOSURE (cont.)
Number of directors whose remuneration was within the following bands:
2012
$
Nil - $9,999
6
7
110,000 - $119,999
1
–
250,000 - $259,999
1
–
280,000 - $289,999
1
–
$360,000 - $369,999
–
1
$370,000 - $379,999
1
–
$380,000 - $389,999
1
–
$420,000 - $429,999
–
1
$430,000 - $439,999
1
–
12
9
1,625,453
691,655
210,439
96,899
1,835,892
788,554
Post-employment benefits
TOTAL REMUNERATION
There were no other transactions with directors, or other related parties of a director during the year (2012, nil).
b.
MINISTER
The name of the person who was the Responsible Person during the financial year was:
- Hon. Peter Hall MLC, Minister for Higher Education and Skills.
115,299
198,403
15,961
31,002
Termination benefits
281,000
–
Total Remuneration
412,260
229,405
Remuneration of the Minister is disclosed in the financial report of the Department of Premier and Cabinet.
Post-employment benefits
d.
RELATED PARTY TRANSACTIONS
Other transactions and loans have been considered in terms of the disclosure requirements specified under
the Directions of the Minister for Finance these are as follows:
2013
$
2012
$
Income received from Swinburne University of Technology
367,681
735,362
Expenditure paid to Swinburne University of Technology
587,221
735,362
Amount receivable from Swinburne University of Technology
128,613
156,527
NOTE 16. RECONCILIATION OF CASH
a.
RECONCILIATION OF CASH
Cash at the end of the financial year, as shown in the cash flows statement, is reconciled to the related items
in the balance sheet as follows:
2013
$
2012
$
Cash and cash equivalents
1,749,453
69,905
Other relevant interests are declared in the Register of Member’s Interests which each member of the
Parliament completes.
CASH AT THE END OF THE FINANCIAL YEAR
1,749,453
69,905
c.
EXECUTIVE OFFICERS’ REMUNERATION
The company has no credit stand-by arrangements or loan facilities at 31 December 2013 (2012,nil).
The number of executive officers, other than responsible persons, whose total remuneration falls within the specified
bands above $100,000 are as follows:
$
70
2012
$
Short-term employee benefits
2013
$
Short-term employee benefits
2013
$
2013
2012
220,000 - 229,999
0
1
410,000 - 419,999
1
0
TOTAL NUMBERS
1
1
NICA.COM.AU
INFO@NICA.COM.AU
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ABN 80 084 913 235
NOTE 17. RECONCILIATION OF NET OPERATING RESULT FOR THE YEAR TO NET CASH FLOWS FROM OPERATING ACTIVITIES
NET OPERATING RESULT FOR THE YEAR
NOTE 19. OPERATING LEASE COMMITMENTS
Non-cancellable operating leases contracted for but not capitalised in the financial statements:
2013
$
2012
$
750,474
(86,227)
ADD/(LESS) NON-CASH FLOWS IN NET
OPERATING RESULT
Depreciation
WDV On Disposal Of Asset
89,417
95,160
6,068
–
Decrease/(Increase) Current Assets
453,016
(41,852)
Decrease/(Increase) In Intercompany Receivables
156,527
(36,307)
59,966
14,503
172,788
(13,987)
1,688,257
(68,710)
(Decrease)/Increase In Other Current Liabilities
NET CASH FLOWS FROM OPERATING ACTIVITIES
2012
$
no later than 1 year
126,684
149,849
later than 1 year but not later than 5 years
351,656
478,579
–
–
478,340
628,428
later than 5 years
CHANGES IN ASSETS AND LIABILITIES
(Decrease)/Increase In Employee Benefits
2013
$
Payable:
NOTE 20. CAPITAL COMMITMENTS
There are no capital commitments as at 31 December 2013 (2012, nil).
NOTE 21. SUPERANNUATION FUNDS
The National Institute of Circus Arts employees are member of various superannuation funds. Employer contribution
rate is 9.25% (2012, 9%). In 2013 contributions made were $260,401 (2012: $270,574). There were no
outstanding contributions at year-end and no loans to the entity from the schemes.
NOTE 18. CONTINGENT LIABILITIES AND CONTINGENT ASSETS
NOTE 22. COMPANY DETAILS
QUANTIFIABLE CONTINGENT LIABILITIES
There were no quantifiable contingent liabilities as at 31 December 2013 (2012, nil).
UNQUANTIFIABLE CONTINGENT LIABILITIES
There were no unquantifiable contingent liabilities as at 31 December 2013 (2012, nil).
The registered office of the National Institute of Circus Arts Ltd is:
144 High Street
Prahran VIC 3181
NOTE 23. EVENTS OCCURRING AFTER BALANCE DATE
QUANTIFIABLE CONTINGENT ASSETS
There were no quantifiable contingent assets as at 31 December 2013 (2012, nil).
UNQUANTIFIABLE CONTINGENT ASSETS
The company had no unquantifiable contingent assets as at 31 December 2013 (2012, nil).
No other matters or circumstances have arisen since the end of the reporting year which significantly affect or may
significantly affect the operations of the entity, the results of those operations, or the state of affairs of the company
in future financial years.
NOTE 24. SUBSEQUENT EVENTS
There has not arisen in the interval between the end of the financial year and the date of this report any item,
transaction, or event of a material and unusual nature likely, in the opinion of the Directors, to affect substantially
the operations of the Company, the result of those operations, or the state of affairs of the Company in subsequent
financial years.
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NICA.COM.AU
INFO@NICA.COM.AU
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ABN 80 084 913 235
NOTE 25. ECONOMIC DEPENDENCY
RECURRING
FAIR VALUE
MEASUREMENTS
The company’s principle source of funding is grant revenue from the Federal Government Arts Portfolio.
2013
LEVEL 1
LEVEL 2
LEVEL 3
$
$
$
$
Non-Financial Assets
The company also received financial support in the form of a grant from the parent entity, Swinburne University
of Technology. This grant ceased from 1 July 2013.
NOTE 26. FAIR VALUE MEASUREMENTS
- Buildings
7
168,146
–
168,146
–
- Fit Out
7
752,239
–
752,239
–
7
84,104
–
84,104
–
1,004,489
–
1,004,489
–
a.
FAIR VALUE MEASUREMENTS
- Trunk Reticulated
Building Systems
The fair value of financial assets and financial liabilities must be estimated for recognition and measurement
or for disclosure purposes.
TOTAL BUILDING
IMPROVEMENTS
Due to the short-term nature of the current receivables, their carrying value is assumed to approximate their fair
value and based on credit history it is expected that the receivables that are neither past due nor impaired will
be received when due.
Leasehold Improvements
7
5,861
–
5,861
–
Office Furniture &
Equipment
7
16,297
–
16,297
–
1,026,647
–
1,026,647
–
The carrying amounts and aggregate net fair values of non-financial assets at balance date are:
CARRYING AMOUNT
NOTE
NON-FINANCIAL
ASSETS
Leasehold Improvements
Office Furniture and
Equipment
TOTAL FINANCIAL
ASSETS
74
NOTE
FAIR VALUE
2013
2012
2013
2012
$
$
$
$
1,004,489
1,060,144
1,004,489
1,060,144
5,861
20,507
5,861
20,507
16,297
26,704
16,297
26,704
1,026,647
1,107,355
1,026,647
1,107,355
b.
FAIR VALUE HIERARCHY
The company categorises assets and liabilities measured at fair value into a hierarchy based on the level
of inputs used in measurement.
Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities
Level 2 - inputs other than quoted prices within level 1 that are observable for the asset or liability either
directly or indirectly
Level 3 - inputs for the asset or liability that are not based on observable market data (unobservable inputs)
Fair value measurements recognised in the balance sheet are categorised into the following levels at 31
December 2013. Comparative information for non-financial assets has not been provided as permitted
by the transitional provisions of the new standard.
NICA.COM.AU
There were no transfers between levels 1, 2 or 3 for recurring fair value measurements during the year.
c.
VALUATION TECHNIQUES USED TO DERIVE LEVEL 2 AND LEVEL 3 FAIR VALUES
i. Recurring fair value measurements
The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques. These valuation techniques maximise the use of observable market data where it is available
and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an
instrument are observable, the instrument is included in level 2.
If one or more of the significant inputs is not based on observable market data, the instrument is included
in level 3.
The company uses a variety of methods and makes assumptions that are based on market conditions
existing at each balance date. Specific valuation techniques used to value financial instruments include:
- The use of quoted market prices or dealer quotes for similar instruments
- Other techniques, such as discounted cash flow analysis, are used to determine fair value for the remaining financial instruments
INFO@NICA.COM.AU
75
ABN 80 084 913 235
39-59 GREEN ST, PRAHRAN VICTORIA 3181 AUSTRALIA
T +613 9214 6975
F +613 9214 6574
INFO@NICA.COM.AU WWW.NICA.COM.AU

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