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Statement of Comprehensive Income for the period ended 30 June 2019

2019

2018

Original Budget

Notes

$'000

$'000

$'000

NET COST OF SERVICES

EXPENSES

Employee benefits

3A

16,148

14,806

14,335

Supplier expenses

3B

15,475

14,811

15,270

Depreciation and amortisation

6A

9,442

10,113

9,871

Write-down and impairment of other assets

3C

619

-

-

Losses from asset sales

3D

8

-

-

Grants expense

3E

97

104

118

Total expenses

41,789

39,834

39,594

LESS:

OWN-SOURCE INCOME

Own-source revenue

Sale of goods and rendering of services

4A

9,287

7,594

7,475

Interest

4B

898

744

450

Rental income

4C

2,651

2,177

2,563

Other revenue

4D

5,626

5,687

4,915

Total own-source revenue

18,462

16,202

15,403

Gains

Other gains

4E

486

1,238

-

Total gains

486

1,238

-

Total own-source income

18,948

17,440

15,403

Net cost of services

22,841

22,394

24,191

Revenue from Government

4F

21,415

20,727

21,415

Surplus (deficit) attributable to the Australian Government on continuing operations

(1,426)

(1,667)

(2,776)

OTHER COMPREHENSIVE INCOME

Total other comprehensive income

-

-

-

Total comprehensive income (deficit) attributable to the Australian Government

(1,426)

(1,667)

(2,776)

The above statement should be read in conjunction with the accompanying notes.

Budget Variances Commentary

Statement of Comprehensive Income

Commentary is provided where the variance between the budget and actual line item is +/- $500 and 10% and +/- 2% of the budget category (e.g. Expenses, Own-source revenue, Financial asset etc.).

Explanation of variance

Line item

Amount

Includes expenditure from voyaging of Endeavour, increased employee benefits provisions as a result of changes in the bond rate used to calculate long service leave entitlements and an increase in the time and value of volunteer labour used throughout the year

Employee benefits

(1,813)

Includes unbudgeted revenue from voyaging of Endeavour and increased admission, retail and venue hire activity

Sale of goods and rendering of services

1,812

Includes a higher number and value of in‑kind sponsorship arrangements relating to the museum’s on-site and touring exhibitions and grants received for the circumnavigation of the Endeavour as part of the museum’s Encounters 2020 program, partially offset by lower than anticipated cash donations

Other revenue

711