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