Statement of Financial Position as at 30 June 2019
2019 |
2018 |
Original Budget |
||
---|---|---|---|---|
Notes |
$'000 |
$'000 |
$'000 |
|
ASSETS |
||||
Financial assets |
||||
Cash and cash equivalents |
25,357 |
21,428 |
13,362 |
|
Trade and other receivables |
1,877 |
1,491 |
1,196 |
|
Total financial assets |
27,234 |
22,919 |
14,558 |
|
Non-financial assets |
||||
Land and buildings |
155,727 |
153,744 |
152,786 |
|
Infrastructure, plant and equipment |
9,412 |
10,875 |
22,800 |
|
Heritage and cultural assets |
73,756 |
71,242 |
71,659 |
|
Intangibles |
5,101 |
5,012 |
5,601 |
|
Inventories |
300 |
350 |
253 |
|
Other non-financial assets |
380 |
248 |
593 |
|
Total non-financial assets |
244,676 |
241,471 |
253,692 |
|
Total Assets |
271,910 |
264,390 |
268,250 |
|
LIABILITIES |
||||
Payables |
||||
Suppliers |
3,314 |
2,425 |
2,500 |
|
Other payables |
1,974 |
2,396 |
2,200 |
|
Total payables |
5,288 |
4,821 |
4,700 |
|
Interest bearing liabilities |
||||
Leases |
22 |
60 |
- |
|
Total interest bearing liabilities |
22 |
60 |
- |
|
Provisions |
||||
Employee provisions |
3,459 |
2,841 |
2,800 |
|
Provision for makegood obligations |
78 |
- |
- |
|
Total provisions |
3,537 |
2,841 |
2,800 |
|
Total Liabilities |
8,847 |
7,722 |
7,500 |
|
Net Assets |
263,063 |
256,668 |
260,750 |
|
EQUITY |
||||
Contributed equity |
31,438 |
23,617 |
31,438 |
|
Reserves |
180,016 |
180,016 |
180,016 |
|
Retained surplus |
51,609 |
53,035 |
49,296 |
|
Total Equity |
263,063 |
256,668 |
260,750 |
The above statement should be read in conjunction with the accompanying notes.
Budget Variances Commentary Statement of Financial Position 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 a higher opening cash balance at 1 July 2018 and delays in capital works program expenditure (discussed below) |
Cash and cash equivalents |
11,995 |
Includes a small number of high value, one-off transactions, including with other Commonwealth and State government entities, that were unpaid at 30 June 2019 and subsequently received in full in the 2019-20 financial year |
Trade and other receivables |
681 |
Includes delays in the museum’s capital works expenditure program, relating to upgrades and improvements to the museum’s buildings and infrastructure, reallocations in asset classifications between budget and actual, and a lower than anticipated opening balance at 1 July 2018 |
Infrastructure, plant & equipment |
(13,388) |
Includes a number of high value projects in progress or completing for which expenditure was incurred prior to year end but payment not required until the next financial year |
Suppliers |
(814) |
Includes the impact of changes in the bond rate used to calculate long service leave provisions for employees |
Employee provisions |
(659) |
Visit
https://www.transparency.gov.au/annual-reports/australian-national-maritime-museum/reporting-year/2018-2019-56