Review of operations
The review of operations for WSA is contained in the messages from the Chair and Chief Executive Officer, and the Operating Overview (at page 11).
WSA’s principal activities during the year are described in the Operating and Financial Overview on pages 11 to 24. There have been no significant changes in the nature of those activities during the year.
Significant changes in the state of affairs
Other than the information set out in the Operating Overview, there were no significant changes in the state of affairs during the financial period ended 30 June 2019.
Events since the end of the financial year
On 30 August 2019, the following contracts were approved for award by the Board:
- Bulk Earthworks and Airside Civils (BEAC) package to level the Airport site and trunk drainage construction by moving over 20 million cubic metres of earth.
- Independent Certifier to perform review and certification of design and construction activities.
No other matters or circumstance have arisen since 30 June 2019 that have significantly affected the Company’s operations, results or state of affairs or may do so in future years.
Likely developments and expected results of operations
Likely developments include procurement of contracts, design and engineering, construction works and commencement of bulk earthworks. Further information is provided in the Chair’s Message, Chief Executive Officer’s Message, and the Operating Overview. Refer to WSA Annual Report.
No dividends have been paid or declared during the period.
WSA is subject to significant environmental regulation in respect of its land development and construction activities. The Western Sydney Airport Plan imposes conditions for the design, construction and operation of the Stage 1 development and includes strict environmental standards and implementation of mitigation measures identified in the Environmental Impact Statement. Most of the conditions must be met by WSA as the site occupier of the Western Sydney International Airport site.
Indemnification of Officers
WSA has indemnified each of the Directors of the Company against legal proceedings, loss or liability that arises in their capacity as Directors of WSA. As at 30 June 2019, no material claims have been made.
No non-audit services have been provided by the Auditor-General or the Australian National Audit Office.
Auditor’s Independence Declaration
The Directors received an Independence Declaration from the Auditor-General. A copy of this declaration has been included with the Financial Report.
Signed in accordance with a resolution of the Directors.
Mr Paul O'Sullivan
Chair of the Board
Mr Tim Eddy
Chair of the Audit and Risk Committee
30 August 2019