Foreword

1. Executive summary

1.1 Introduction
1.2 Findings
1.3 Recommendations

2. Major events

2.1 Introduction
2.2 Funding of major events
2.3 Government management arrangements

3. Audit scope and approach

3.1 Rationale for audit
3.2 Audit objectives
3.3 Audit assistance

4. Pre-event assessment

4.1 Process for the assessment of major events
4.2 The Major Events Assessment Statement
4.3 Conclusions

5. Funding management

5.1 Management of funding arrangements with event organisers

6. Post-event assessment

6.1 Background
6.2 Economic assessment
6.3 2005 Australian Formula 1 Grand Prix
6.4 Economic impacts of other events

7. Areas for improvement

7.1 Introduction
7.2 Preparing guidelines for the economic assessment of major events
7.3 Establishing good practice principles for survey design and application
7.4 Establishing a panel of preferred contractors
7.5 Strengthening the focus on assessing social and environmental impacts
7.6 Increasing the public reporting of outcomes from major events

Appendix A. Conduct of the audit

Glossary of terms

Commissioned studies: 2005 Australian Formula 1 Grand Prix

Introduction to commissioned studies

Commissioned study A: Cost-benefit analysis

A1. Executive summary
A2. The cost-benefit method and the grand prix
A3. Costs of the 2005 grand prix
A4. Benefits of the 2005 grand prix
A5. Overall cost-benefit result for 2005
A6. Concluding observations

Commissioned study B: Computable general equilibrium analysis

B1. Executive summary
B2. Introduction
B3. Overview of CGE analysis
B4. The direct impacts of the grand prix to Victoria presented in the NIEIR report
B5. MMRF modelling results

Attachment B1: Detailed MMRF modelling results

Attachment B2: NIEIR's response