ITF

NOTES (CONT.) (FORMING PART OF THE FINANCIAL STATEMENTS) 10. Tennis development 2019 2019 2018 2018 $000 $000 $000 $000 Operating Strategic Operating Strategic ITF Development Programme 6,957 - 6,518 - Olympic Solidarity 394 - 398 - Development assistance grants 160 - 200 - Grand Slam Development Fund 2,738 - 2,622 - Regional grants 930 - 841 - 11,179 - 10,579 - Wheelchair Tennis Development Fund 63 - 96 - Wheelchair Tennis Development Programme 700 - - - Other Tennis Development costs 1,185 1,437 944 88 13,127 1,437 11,619 88 11. Commercial 12. Presidential and Communications 13. Integrity, Science and Technical 14. Finance and Administration 15. Foreign exchange (gain) / loss Foreign exchange gains represents the rise in the value of foreign currency reserves held by the ITF as either working capital to fund its operations or for investment purposes, or foreign exchange gains realised on transactions completed during the year. Further details on the ITF's capital management policy are disclosed in note 36(f). Other Tennis Development department costs include the online coaching academy and staff costs. Expenditure on development projects in receipt of Olympic Solidarity funding is shown here gross. Included in the Integrity, Science and Technical department costs are anti-doping, technical, ITF Foundation and Sport Science and Medicine Commission costs as well as regulation and governance costs. Included in the Commercial department costs are television, sponsorship, merchandising and marketing costs. Included in the Presidential and Communications department costs are the ITF Conference and AGM, Board of Directors' meetings, regional grants, ITF World Champions Dinner, ITF Constitution and communications. Included in the Finance and Administration department are the costs of information and communications technology, insurance, legal and professional fees, premises, general administration and movements in the provision for doubtful debts. Strategic Initiative costs include the creation of a digital video archive that can generate future revenues as well as being an important historical archive of past ITF footage. Strategic Initiative costs include creating a digital photo archive and completing the work of migrating a significant volume of images into it. Strategic initiative costs include annual software licences for the new IT strategy of migrating the databases and certain components of the IPIN system onto the cloud. Also included within Finance and Administration costs is the net impairment losses of trade receivables of $13,000 (2018 $133,000). See note 36(b) for details. Development Strategic Initiative expenditure is focused on the creation of the World Tennis Number project which will provide our member nations with the means to identify the level of participation in their nation, while also providing meaningful ratings to recreational and professional players alike. 21

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