Page 3942 - Week 12 - Thursday, 23 November 2006
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Rhodium Asset Solutions Ltd
(Question No 1359)
Mr Stefaniak asked the Chief Minister, upon notice, on 19 October 2006 (redirected to the Treasurer):
(1) Who made the decision for Rhodium to sponsor the Brumbies;
(2) What benefit was Rhodium to obtain from this sponsorship;
(3) What form did the sponsorship take;
(4) If it was the CEO who decided to sponsor the Brumbies, did she advise the Board of the sponsorship; if so, how;
(5) Did the Board advise anyone within the ACT Government of the arrangements;
(6) Did Rhodium receive a box at Canberra Stadium for Brumbies’ games resulting from the sponsorship; if so, did Rhodium host the shareholders or other figures in the ACT Government during Brumbies games;
(7) What value did Rhodium receive from the sponsorship deal entered into with the Brumbies.
Mr Stanhope: The answer to the member’s question is as follows:
(1) The Rhodium Board has advised that the decision was made by the former Chief Executive Officer, although it exceeded her financial delegation.
(2) The Rhodium Board has advised that the sponsorship agreement was intended to provide several benefits including:
• advertising and signage at all Brumbies home matches;
• corporate entertainment and associated tickets to Brumbies events; and
• a range of other marketing activities
(3) The Rhodium Board has advised that eleven fully maintained vehicles were provided by Rhodium from January 2006, which are due to be replaced after two years.
(4) The Rhodium Board has advised that the former Chief Executive Officer briefed the Rhodium Board about the sponsorship arrangement after it had been agreed with the Brumbies.
(5) Advice was only provided to the Government well after the arrangements were made between the Rhodium CEO and the Brumbies in January 2006. Treasury records indicate that a copy of the March 2006 Rhodium Board Minutes (signed off by the Chair on the 5 May 2006) was received on or about 11 May 2006. The Minutes made a brief reference to the existence of the Brumbies sponsorship. Further advice was included in a letter from the Chair to the Chief Minister on 30 June 2006, which was also copied to the Chief Executive of the Chief Minister’s Department, the Under Treasurer and the Auditor-General.
(6) The Rhodium Board has advised that Rhodium received a corporate dining table, not a corporate box, as part of the sponsorship agreement. The Voting Shareholders were not
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