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Cash Flow Statement for the period ended 30 June 2019

2019

2018

Original Budget

Notes

$'000

$'000

$'000

OPERATING ACTIVITIES

Cash received

Sale of goods and rendering of services

9,328

7,861

7,219

Receipts from Government

21,415

20,727

21,415

Interest

885

698

450

Rental income

2,867

2,377

2,819

GST received

1,782

1,445

1,700

Other

2,098

2,522

3,215

Total cash received

38,375

35,630

36,818

Cash used

Employees

(13,616)

(12,676)

(14,335)

Suppliers

(14,771)

(13,484)

(15,270)

Other

(164)

(215)

(118)

Total cash used

(28,551)

(26,375)

(29,723)

Net cash from operating activities

9,824

9,255

7,095

INVESTING ACTIVITIES

Cash received

Sales of property, plant and equipment

430

-

-

Total cash received

430

-

-

Cash used

Purchase of property, plant and equipment

(7,900)

(7,166)

(13,457)

Purchase of heritage and cultural items

(4,684)

(3,498)

(2,730)

Purchase of intangibles

(1,562)

(1,335)

(1,500)

Total cash used

(14,146)

(11,999)

(17,687)

Net cash (used by) investing activities

(13,716)

(11,999)

(17,687)

FINANCING ACTIVITIES

Cash received

Contributed equity

7,821

7,980

7,821

Total cash received

7,821

7,980

7,821

Net cash from financing activities

7,821

7,980

7,821

Net increase (decrease) in cash held

3,929

5,236

(2,771)

Cash and cash equivalents at the beginning of the reporting period

21,428

16,192

16,133

Cash and cash equivalents at the end of the reporting period

5A

25,357

21,428

13,362

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

Budget Variances Commentary

Cashflow Statement

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

Sales of goods and rendering of services

2,109

Includes lower than anticipated cash donations revenue and changes in allocation methodology between 2019 budget and 2019 actual activity

Other cash received

(1,117)

Includes delays in the museum’s capital works expenditure program, relating to upgrades and improvements to the museum’s buildings and infrastructure

Purchase of property, plant and equipment

5,557

Includes higher than anticipated restoration works on the museum’s floating vessel fleet

Purchase of heritage and cultural items

(1,954)