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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

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

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