Statement of Comprehensive Income for the period ended 30 June 2020
Notes | 2020 $'000 | 2019 $'000 | Original Budget $'000 | |
NET COST OF SERVICES | ||||
EXPENSES | ||||
Employee benefits | 3A | 16,687 | 16,148 | 17,854 |
Suppliers | 3B | 14,990 | 15,475 | 19,704 |
Grants | 3C | 120 | 97 | 118 |
Depreciation and amortisation | 6A | 10,881 | 9,442 | 9,891 |
Impairment loss on financial instruments | 3D | 65 | 0 | 0 |
Write-down and impairment of other assets | 3E | 281 | 619 | 0 |
Losses from asset sales | 3F | 1 | 8 | 0 |
Total expenses | 43,025 | 41,789 | 47,567 | |
LESS: | ||||
OWN-SOURCE INCOME | ||||
Own-source revenue | ||||
Revenue from contracts with customers | 4A | 8,848 | 9,287 | 10,878 |
Interest | 4B | 378 | 898 | 500 |
Rental income | 4C | 2,692 | 2,651 | 2,915 |
Other revenue | 4D | 7,650 | 5,626 | 9,262 |
Total own-source revenue | 19,568 | 18,462 | 23,555 | |
Gains | ||||
Other gains | 4E | 113 | 486 | 0 |
Total gains | 113 | 486 | 0 | |
Total own-source income | 19,681 | 18,948 | 23,555 | |
Net cost of services | 23,344 | 22,841 | 24,012 | |
Revenue from Government | 4F | 21,217 | 21,415 | 21,217 |
Surplus (deficit) attributable to the Australian Government on continuing operations | -2,127 | -1,426 | -2,795 | |
OTHER COMPREHENSIVE INCOME | ||||
Total other comprehensive income | 0 | 0 | 0 | |
Total comprehensive income (deficit) attributable to the Australian Government | -2,127 | -1,426 | -2,795 |
The above statement should be read in conjunction with the accompanying notes.
Budget Variances Commentary | ||
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 |
Primarily due to COVID-19 – includes suspension of the Encounters 2020 program, and impact of savings measures across a variety of discretionary expenditure items | Suppliers | 4,714 |
Includes impact of increased fixed asset base due to additional capital works expenditure in recent years | Depreciation and amortisation | -990 |
Primarily due to COVID-19 – includes suspension of the Encounters 2020 program, and impacts of temporary closure of the museum, including on admissions, retail and venue hire activity | Revenue from contracts with customers | -2,030 |
Includes reduced cash and in-kind sponsorship revenue, including for Encounters 2020 program, partially offset by insurance proceeds relating to COVID-19 insurable event | Other revenue | -1,612 |
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https://www.transparency.gov.au/annual-reports/australian-national-maritime-museum/reporting-year/2019-20-36