COMM GAMES MONEYBALL
Just how much cash is being poured into next year’s Commonwealth Games and where is it going?
SIX months out from the Commonwealth Games, what is happening with your taxpayer money? After looking at the fine print in financials, it is about to be spent. A lot of it, very quickly.
GOLDOC’s annual report just tabled in State Parliament shows almost $44 million was spent on contractors and suppliers in 2017, up from $9 million for the previous year.
Who are the lucky consultants? Are they locals, interstate contractors or are they from overseas?
GOLDOC told your columnist that 69 per cent of contracts have been awarded to Coast companies, and overall 97 per cent to Aussie firms.
Almost $48 million is on hand waiting to be spent. Games organisers reassure there are no delays in the commissioning of projects.
About $3.7 million so far has flowed in from commercial backers. The State Government will foot most of the bill – providing $1.78 billion of what will be a $3 billion economic boost.
What about all the expenses? Drill down on the financials and you will see about $50 million allocated to wages and salaries. GOLDOC has switched the ignition on its marketing campaign. Media launches occur every day now and staff work around a sevenday week roster in the lead-up to April next year.
This momentum is reflected in the financials. Travel and accommodation expenses have tripled in the past year to $1.5 million, and entertainment and hospitality similarly spiked from $31,000 to $100,000 this year.
Deputy CEO Brian Nourse told your columnist: “As we move closer to the event, there are more opportunities to promote the Games to an ever increasing audience of team officials, global media, dignitaries and other visitors to the Gold Coast during this lead-up phase. The Queen’s Baton Relay is the biggest marketing program GC2018 will undertake.”
What are the board members being paid? The statements show Chairman Peter Beattie is on about $50,000 and the others allocated up to $20,000. As an insider re-