final 2008 report - a4 - iris research annual report 2008.pdf · • statistical/multivariate...
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Annual Report
28 years serving the IIlawarra
20082008
Insightfor
Business &Government
2iris.org.au Contact: (02) 4229 4777
IRIS has served the research and marketing needs of business and government for 28 years. Our goal is to provide all customers with the highest levels of understanding, insight and value for money for their research activities.
We provide independent high quality research to assist business, government and the community in their decision making.
Our personnel have demonstrated expertise in both national and regional based research projects. IRIS Research conducts all fi eldwork services in-house, ensuring data integrity and security. We provide our clients with access to a high quality IQCA accredited Computer Aided Telephone Interviewing facility.
IRIS through support from government agencies and the local business sector offers an integrated business information service for planning and analysis of decisions.
When we commenced operations in 1980, IRIS was Australia’s fi rst computer based information service. Since that time we have developed a number of sophisticated research techniques and services that permit us to provide the highest level of information quality and research to business, government and community organisations.
CapabilitiesComputer aided telephone interviewing incorporating audio facilities• Web/online surveys• Household interviewing• Mall intercepts• Audits and observational studies including mystery shopping• Data mining• Statistical/multivariate analysis and modelling• Focus groups• Workshop facilitation• Economic profi les•
SpecialisationsLocal government• Community usage and attitudes• Customer satisfaction• Advertising and brand tracking• Corporate image and identity studies• Finance and banking• Media• Business to business• Staff opinion surveys• Public opinion polling• Tourism• Health and medical• Service and program evaluation for local, state & federal government • Economic and social planning•
About IRISContents
About IRIS 2
Chairman’s Report 3
Executive Director’sYear in Review 4-5
Board Members 6
Staff 6
IRIS Members 7-8
Financial Report 9-11
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Chairman’s Report
We have had yet another successful year, with a record level of contract research, a high level of sponsorship support and important contributions to the region’s economic development.
As a community based research organisation we have continued to provide independent high quality research and information services to both the government and private sectors.
Highlights during 2007/08 were:
An operating surplus of $150,000 providing extra support for »
our regional research program:
Expansion of our services into new geographical markets; and »
Revamp of our publications and delivery of online information »
services.
IRIS continues to service its sponsors and the community. Our membership package provides a comprehensive package of direct benefi ts, including 16 publications a year, data services, research support, invitations to economic presentations and membership recognition.
It is important for our membership base to remain strong. Our income from our membership activities attracts NSW State Government support on a tied grant basis to a maximum of $150,000 from the Department of State and Regional Development. We are grateful for this continued commitment from the NSW State Government.
Without major contributions from Wollongong City Council, University of Wollongong, Illawarra Mercury, Illawarra Credit Union, Shellharbour Council, Kiama Municipal Council and BlueScope Steel, the NSW State Government grant would not be possible. We are indebted to our major sponsors for their continued support.
A number of sponsors either upgraded the level of their relationship or joined us for the fi rst time during 2007/08. These were Access Business Lawyers, AusIndustry, Centacare Wollongong, CPR Projects, Crown Valuation Services, Molnar Property Group, Herron Todd White, Illawarra & South East Regional Offi ce – DET, Kiama & District Chamber of Commerce, Konica Wollongong, The Village Building Company and Wave FM.
I am also pleased to recognise those sponsors that have made contributions to the economic wellbeing of IRIS and the Region through major subscriptions.
These are:
Shoalhaven City Council, Illawarra Area Consultative Committee, Miltonbrook Group of Companies, Cleary Bros, IMB Banking and Financial Services, National Australia Bank, Novotel Northbeach, Illawarra Business Chamber, The Illawarra Connection, Thiess Services, Tourism Wollongong and Wollongong Central.
IRIS understands regions and how regional communities operate. We are a unique service in Australia that provides our region with a strong foundation for economic and social development. However to continue, IRIS must focus on delivering the relevant research and information that is required by the region’s business, government and community sectors.
2009 starts an exciting new chapter in IRIS’s life with the relocation of our premises to the Innovation Campus. Our new location will provide an environment which will assist staff learning and technology adoption and strengthen our ties with the University of Wollongong. It should be recognised that this would not be possible without the continued support from the University of Wollongong.
Finally, I would like to congratulate the Management and Staff for their total professionalism and their valued contribution to our success. I would also thank the IRIS Board members for their dedicated and unpaid efforts to guide and support the company.
John E McEwanChairman
4iris.org.au Contact: (02) 4229 4777
Executive Director’s Year in Review
Photo: Orlando Chiodo - Illawarra Mercury
IRIS’s goal is to provide leadership in the provision of regional information to business, government and community groups, as it has done for 28 years.
During 2007/08 IRIS continued to build on its regional research program through its contract research activities and the further development of its economic and social monitoring.
While IRIS achieved a record $1.1 Million for its contract research activities, it is the sponsorship by private companies, Local Councils and community sectors and NSW Government support, which allows IRIS to make a positive contribution to understanding the regional and community dynamics operating in the Illawarra.
The output of IRIS’s regional research program provides unique time series which allow the business community to track their company’s performance against both regional and national indicators. Such information provides insights into our regional economy which are unavailable to other parts of Australia.
While the regional research program is our core business, it is critical that the organisation maintains commercial viability to ensure its long term future. To do this we are committed in our future through technology and human resources. This includes upgrades to our computer technology and the development in-house of software and data capture systems. Our staff are continued to be provided with opportunities to develop their expertise through formal training by industry and academic specialists.
Local Government
IRIS in 2007/08 continued to excel in community research for Local Councils throughout NSW.
Local government is now about community engagement and we have developed new services to meet their needs in community consultation, including surveys, online forums, the facilitation of workshops and focus group activities. The year has seen major studies conducted for Tamworth, Newcastle, Singleton, Baulkham Hills, Penrith, Shellharbour City and Wollongong City Councils.
We have also broken new ground in delivering economic and social plans for regional areas of Australia. The Goulburn Mulwaree Economic Plan, a 12 month project, received strong positive feedback from stakeholders. The recently completed Greater Hume Economic and Social Plan also was a major highlight for the year.
It should be noted that this expertise in understanding regional communities was built locally through our membership Councils, and now is marketed throughout Australia.
Commercial Research
In addition we are now an exporter of research and consultancy services, as we successfully market IRIS beyond the borders of the Illawarra region.
Our success in expanding our commercial activities in niche markets during the past 12 months has continued. Our clients value our independence and insight combined with a fl exible and proactive approach to research. We completed research projects for the IMB, Illawarra Credit Union, i98FM, Walker Group, Law Access NSW, Birth Deaths & Marriages NSW, NSW Legal Aid, IIlawarra Coal, Port Kembla Coal Terminal, AMP and Figtree Private Hospital.
We entered the third year as the preferred market research supplier of Real Insurance, the Australian brand of the leading South African Insurance Company Hollard Insurance.
The demand for our qualitative services continues to grow. A number of successful focus group based projects have been conducted to
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assist our clients in understanding customers, brands and developing advertising campaigns. We anticipate the demand for these services will continue.
During the year the IRIS quarterly omnibus survey has proved to be a cost effective survey tool for local organisations to answer critical questions for their business. Organisations subscribing to the omnibus have used the product to measure and track market share, measure the effectiveness of advertising and promotion, understand the motivation and attitudes of customers, clarify market perceptions and ask polling questions for PR purposes.
Regional Economic Development
IRIS continues to contribute to major issues concerning economic development of the Illawarra region. The IRDB continued its sponsorship of the skills shortage study and this survey continues to provide an update on the state of play of this important industry issue.
June 2008 marked the completion of a major study by IRIS into Illawarra’s youth unemployment. This research project, sponsored by the University of Wollongong, BlueScope Steel and ourselves, explored the causes of the high levels of youth unemployment in the Illawarra and developed a set of policy recommendations. This study has now received Federal Government acknowledgment and has provided the research-based evidence necessary for lobbying purposes. We hope this exercise not only achieves some positive outcomes for our region’s unemployed youth, but provides the collaborative model for other regional issues that require government attention.
Over the past 12 months we have leveraged our expertise in regional economics and development to enter into partnerships with University of Sunshine Coast and the Property Council of Queensland. This has provided consultancies on the Sunshine Coast and Gold Coast. Over the next 12 months projects will commence in Townsville, Cairns and Darwin.
Memberships
Financial support from sponsors and members topped $400,000. This level of sponsorship demonstrates our sponsor’s commitment to our work and the region more broadly.
During the year IRIS produced 17 editions of its range of subscriber based publications, including Profi le Illawarra, Illawarra Business Survey, Illawarra Real Estate Report, IRIS Consumer Sentiment Monitor, the Illawarra Statistical Guide, and a number of detailed economic reports.
Our publications are disseminated online and in hard copy formats to
members and are widely used for business and community planning purposes.
Sponsorship Activities
IRIS continues to contribute fi nancially to local initiatives. IRIS holds memberships with Illawarra Business Chamber, The Illawarra Connection, Tourism Wollongong, and supports local community organisations.
IRIS is a major sponsor of the University of Wollongong Faculty of Commerce awards providing students with fi nancial awards in the disciplines of economics and marketing.
Staff
The achievements of the past 12 months would have not been possible without the expertise and dedication of the IRIS team. I would like to thank Michael Di Leo, Deni Markovski, Geoff Besnard, Gina Kime, Natalie Viselli, Scott Burrows, Hana Stranska, David Garcia, Alex Kerr, Anthony Flint, Stephen Viselli, Judy Ohlbach, and Jane Rooney for their continued efforts and our kindest thanks to the staff members who moved on to new opportunities: Despina Sourlas and Brad Braithwaite.
Simon Pomfret Executive Director
6iris.org.au Contact: (02) 4229 4777
Board MembersIRIS staff includes specialists in marketing research, statistics, survey design, economic analysis and qualitative methods such as focus groups and workshops. The achievements of the past 12 months would have not been possible without the expertise and dedication of the IRIS team.
Executive Director Simon Pomfret MBA B. Comm. (Econ) AIMM AMSRS QPMR
Research Director Michael Di Leo B Comm. (Hons) AMSRS QPMR
Senior Social ResearcherScott Burrows BA (Hons), AES, IPAA, TASA, AMSRS
Senior Research AnalystNatalie Viselli B Comm. (Econ), LLB, CertMktRes, AMSRS
Research AnalystDavid Garcia B. Comm
Hana Stranska BA (Education)
Alex Kerr B. Comm, AMSRS
Anthony Flint B. Comm (Hons)
Stephen Viselli Completing B. Comp.sci
Systems Analyst ProgrammerGeoff Besnard B Math
Financial ControllerDeni Markovski Assoc Dip (Accountancy)
Offi ce AdministrationGina Kime
CATI SupervisorJudy Ohlbach
CATI Team LeaderJane Rooney
The IRIS board of directors is a committed group of individuals working together to ensure the overall strategic direction of the organisation so it continues to serve the interests of the Illawarra community. For many, their position on the board has extended over many years and is a demonstration of their strong commitment to the ideals of IRIS and the prosperity of the Illawarra region. Our kindest thanks for the contributions of Mr. David Brown, Mr. Zeki Esen, Mr. Kiril Jonovski and Mr. Wayne Morris, who retired from the board.
Chairman Mr. John E. McEwan Partner/ Principal, Heard McEwan LegalBoard Member since 1992
Honorary SecretaryMr. Ben Marsh General Manager, Illawarra Newspaper HoldingsBoard Member since 2007
Board MembersProfessor John Steinke Fellow of the UOWBoard Member since 1981
Ms. Joyce Wheatley Councillor, Kiama Municipal CouncilBoard Member since 1995
Mr. Arthur Rorris Secretary, South Coast Labour CouncilBoard Member since 2003
Ms. Michelle Greig Councillor, Shellharbour City CouncilBoard Member since 2004
Mr. Damian Israel Director of Financial Services, UOWBoard Member since 2005
Mr. Tom Hawker Councillor, Shellharbour City CouncilBoard Member since 2004
Mr. Chris Fogarty Vice President Finance ANZIM, BlueScope SteelBoard Member since 2006
Mr. Robert Ryan Chief Executive Offi cer, IMB LtdBoard Member since 2008
Mr. John Vohradsky Executive Manager, Ilawarra Credit UnionBoard Member since 2008
Mr. Peter KofodExecutive Manager Governance & Planning, Wollongong City CouncilBoard Member since 2008
Mr. Greg DoyleManager Communications & Strategy, Wollongong City CouncilBoard Member since 2008
Staff
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Cleary Bros•
Illawarra Area Consultative Committee•
Illawarra Business Chamber•
IMB Banking & Financial Services Ltd•
Miltonbrook Group of Companies•
nab•
Novotel Northbeach•
Shoalhaven City Council•
The Illawarra Connection•
Thiess Services•
Tourism Wollongong •
Wollongong Central•
Cardno Forbes Rigby Pty. Ltd.•
Figtree Private Hospital•
Heard, McEwan Legal•
Landmark White•
Landcom •
The Illawarra ITeC Ltd. •
IRIS Members
Platinum Members
Gold Members
Silver Members
Bronze Members
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ABICO Insurance Brokers Pty Ltd•
Access Business Lawyers•
Accounting Professionals•
Akele Kinnas & Co•
Australian Certifi ed Valuers Pty Ltd•
AusIndustry•
Australian Taxation Offi ce•
AVC Pty Ltd•
Bartlett & Cachia•
Bevans Illawarra•
BHP Billiton – Illawarra Coal•
Boral Country Concrete & Quarries•
C.I. Ceramics (Aust) Pty Ltd•
Centacare Wollongong•
Colleen Coyne Property Research•
Consulting Plus Pty Ltd•
CPR Projects•
Crown Valuation Service•
D & D Services•
Delfi n Lend Lease•
Department of Commerce•
Department of Lands•
Department of Planning•
Economics Discipline UOW•
Edmen Pty Limited•
Essential Personnel•
Greater Building Society•
Hansons Lawyers•
Herron Todd White•
Hill PDA Pty Ltd•
Illawarra & South East Regional Offi ce of the Department of • Education & Training
Illawarra Housing NSW•
Illawarra Legal Centre Inc.•
Illawarra Regional Development Board•
Illawarra Retirement Trust•
Jamberoo Action Park•
Jojoni Pty Limited•
Kells the Lawyers•
Kiama & District Chamber of Commerce•
Knight Frank Australia Pty Ltd•
Konica Wollongong•
KPMG•
Macquarie Bank•
Marksman Homes Pty Ltd•
Martin, Morris & Jones Pty Ltd•
Newkem Australia Pty Ltd•
NSW Department of Premier & Cabinet•
PCL Money Pty Limited•
Peter M. Woods & Associations•
PGH CSR Bricks & Pavers•
Stockland Shellharbour•
TAFE Library Collection Services•
The Good Guys Warrawong•
The Village Building Company Ltd•
Total Expressions•
Transport Workers Union of NSW•
Walsh & Monaghan Pty Ltd•
WAVE FM•
White Constructions Pty Ltd•
Corporate Members
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Financial Report
Report on the fi nancial report
We have audited the accompanying fi nancial report of Illawarra Regional Information Service Limited which comprises the balance sheet as at 30 June 2008, and the income statement, statement of recognised income and expenditure and cash fl ow statement for the year ended on that date, a summary of signifi cant accounting policies and other explanatory notes and the directors’ declaration.
Auditor’s Responsibilities
Our responsibility is to express an opinion on the fi nancial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the fi nancial report is free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the fi nancial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the fi nancial report.
We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion.
Independence
In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confi rm that the independence declaration required by the Corporations Act 2001, provided to the directors of Illawarra Regional Information Service Limited would be in the same terms if provided to the directors as at the date of this auditor’s report.
Audit Opinion
In our opinion the fi nancial report of Illawarra Regional Information Service Limited is in accordance with the Corporations Act 2001, including:
(a) giving a true and fair view of the company’s fi nancial position as at 30 June 2008 and of their performance for the year ended on that date; and
(b) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001.
AKELE KINNAS & COChartered Accountants
Elias KinnasAugust 2008Suite 6, 104 Railway StreetCORRIMAL NSW 2518
Independent Audit Report to the Members of Illawarra Regional Information Service Limited
Director’s Declaration
The directors of Illawarra Regional Information Service Limited declare that:
1) The fi nancial statements and notes, set out on pages 3 to 15, are in accordance with the Corporations Act 2001:
(a) complying with Accounting Standards and the Corporations Regulations; and
(b) give a true and fair view of the fi nancial position of the company as at 30 June, 2008 and of its performance for the year ended on that date, of the entity.
2) In the directors’ opinion, there are reasonable grounds to believe that the entity will be able to pay its debts as and when they become due and payable.
This declaration is made in accordance with a resolution of the Board of Directors.
J E McEwan B Marsh
(Director) (Director)
Wollongong August 2008
Year ended June 2008
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Balance SheetAs at 30th June
2008 2007 $ $CURRENT ASSETSCash and Cash Equivalents 630,853 469,763Receivables 63,752 (19,492)Work in Progress 15,288 28,311Other Current Assets 144,432 135,807TOTAL CURRENT ASSETS $854,325 $614,389
NON-CURRENT ASSETSProperty, Plant and Equipment 18,188 21,264TOTAL NON-CURRENT ASSETS $18,188 $21,264
TOTAL ASSETS $872,513 $635,653
CURRENT LIABILITIESPayables 405,597 303,014Short-term Provisions 80,802 75,200Other Current Liabilities 43,404 65,655 TOTAL CURRENT LIABILITIES $529,803 $443,869
TOTAL LIABILITIES $529,803 $443,869
NET ASSETS $342,710 $191,784
EQUITYReserves 12,000 12,000Retained Earnings 330,710 179,784TOTAL EQUITY $342,710 $191,784
Cash Flow StatementFor the Year ended 30th June
2008 2007 $
$CASH FLOWS FROM OPERATING ACTIVITIESReceipts from Customers 1,392,822 1,403,360Payments to Suppliers and Employees (1,250,097) (1,242,066) Interest Received 28,794 19,541NET CASH PROVIDED/(USED) IN OPERATING ACTIVITIES $171,519 $180,835
CASH FLOWS FROM INVESTING ACTIVITIESPayment for Property, Plant and Equipment (10,429) (18,873) Proceeds from Sale of Property, Plant and Equipment - -NET CASH PROVIDED FROM INVESTING ACTIVITIES (10,429) ($18,873)
CASH FLOWS FROM FINANCING ACTIVITIESRepayment of Borrowings - -NET CASH PROVIDED/(USED) IN FINANCING ACTIVITIES - -
NET INCREASE/(DECREASE) IN CASH HELD $161,090 $161,962
CASH AT THE BEGINNING OF THE FINANCIAL YEAR $469,763 $307,801
CASH AT THE END OF THE FINANCIAL YEAR $630,853 $469,763Income Statement
For the Year ended 30th June
2008 2007 $ $Revenue from government grants 411,253 379,584 Other revenue 1,093,607 826,716 Employee benefi ts expenses (967,311) (829,421) Depreciation and amortisation (13,506) (12,976) Repairs, maintenance and vehicle running expense (21,285) (19,616) Rental expense (128,156) (124,581) Audit expense (4,750) (4,350) Other expenses (218,926) (143,315)
Profi t before income tax $150,926 $72,041Income Tax Expense - -
PROFIT AFTER INCOME TAX $150,926 $72,041
Statement of Recognised Incomeand Expenditure
For the Year ended 30th June
2008 2007 $ $Balance 1 July 2007 179,784 107,743 Profi t attributable to the entity 150,926 72,041
BALANCE AT 30 JUNE 2008 $330,710 $179,784
Disclaimer:A complete version of the Illawarra Regional Information Service Ltd. Financial Reports for the year ended 30 June, 2008 are available from our offi ce or on our website at www.iris.org.au
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Detailed Profi t & Loss Account For the Year ended 30th June
INCOMEGrantsInterest ReceivedMember Subscriptions/DonationsResearch FeesSales of Publications/Sundry Income
TOTAL INCOME
EXPENSESAccountancyAccreditation FeesAdvertisingAnnual Leave AccrualAuditors Remuneration - FeesBank ChargesBusiness DevelopmentConference and SeminarsConsultant FeesComputer Service CostsComputer Software and UpgradesDepreciationElectronic PublishingFreight and CartageFringe Benefi ts TaxFocus GroupsInsuranceLong Service Leave ProvisionMotor Vehicle ExpensesO H & SPostagePrinting and PhotocopyingProject Research CostsPromotionsRegistration and LicencesRent, Light and CleaningRepairs and MaintenanceSalariesStaff Advertising and RecruitmentStaff AmenitiesStaff TrainingStationerySubscriptionsSundry ExpensesSuperannuationTelephoneTravelling
TOTAL EXPENSES
CONTRIBUTION TO WORKING CAPITAL/(LOSS)
2007 ($)
379,58419,54140,570
759,7526,853
$1,206,300
600-
3,2266,1964,350
8935,021
7827,5001,5843,150
12,9764,483
-3,1168,120
15,06212,63415,181
946,412
12,97914,29111,805
139124,581
4,435719,330
5154,6714,0115,347
11,9681,921
61,65543,213
2,018
$1,134,259
$72,041
2008 ($)
411,25328,79436,803
1,014,55513,455
$1,504,860
100925475
2,5424,750
71510,825
43380,120
1,8333,254
13,5063,584
152,0406,710
17,5803,062
17,254-
5,86917,07916,10214,007
207128,156
4,031870,975
3,1855,1878,8685,0549,5121,840
70,17622,686
1,277
$1,353,934
$150,926
12iris.org.au Contact: (02) 4229 4777Contact: (02) 4229 4777
Illawarra Regional Information Service Ltd.22 Porter Street, North Wollongong NSW 2500
Ph: (02) 4229 4777 Fax: (02) 4227 2987Postal Address: University of Wollongong, Northfi elds Avenue,
Wollongong NSW 2522Email: [email protected]
Web: www.iris.org.au