Cash Flow Statement for the period ended 30 June 2020
Notes | 2020 $'000 | 2019 $'000 | Original Budget $'000 | |
OPERATING ACTIVITIES | ||||
Cash received | ||||
Sale of goods and rendering services | 9,471 | 9,328 | 11,995 | |
Receipts from Government | 21,217 | 21,415 | 21,217 | |
Interest | 462 | 885 | 500 | |
Rental income | 2,488 | 2,867 | 2,915 | |
GST received | 2,314 | 1,782 | 2,003 | |
Other | 4,761 | 2,098 | 9,262 | |
Total cash received | 40,713 | 38,375 | 47,892 | |
Cash used | ||||
Employees | -15,455 | -13,616 | -17,854 | |
Suppliers | -20,192 | -14,771 | -22,824 | |
Other | -144 | -164 | -118 | |
Total cash used | -35,791 | -28,551 | -40,796 | |
Net cash from operating activities | 4,922 | 9,824 | 7,096 | |
INVESTING ACTIVITIES | ||||
Cash received | ||||
Sales of property, plant and equipment | 45 | 430 | 0 | |
Total cash received | 45 | 430 | 0 | |
Cash used | ||||
Purchase of property, plant and equipment | -6,679 | -7,900 | -12,912 | |
Purchase of heritage and cultural items | -1,590 | -4,684 | -2,412 | |
Purchase of intangibles | -1,150 | -1,562 | -1,400 | |
Total cash used | -9,419 | -14,146 | -16,724 | |
Net cash from / (used by) investing activities | -9,374 | -13,716 | -16,724 | |
FINANCING ACTIVITIES | ||||
Cash received | ||||
Contributed equity | 3,153 | 7,821 | 3,153 | |
Total cash received | 3,153 | 7,821 | 3,153 | |
Net cash from / (used by) financing activities | 3,153 | 7,821 | 3,153 | |
Net increase (decrease) in cash held | -1,299 | 3,929 | -6,475 | |
Cash and cash equivalents at the beginning of the reporting period | 25,357 | 21,428 | 19,951 | |
Cash and cash equivalents at the end of the reporting period | 5A | 24,058 | 25,357 | 13,476 |
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 impacts of temporary closure of the museum, including on admissions, retail and venue hire activity | Sale of goods and rendering services | -2,524 |
Includes lower than anticipated cash donation and sponsorship revenue and changes in allocation methodology between 2020 budget and actual activity | Other cash received | -4,501 |
Primarily due to COVID-19 – includes suspension of the Encounters 2020 program, and reductions in the use of labour hire and casual workforce | Employees | 2,399 |
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 | 2,632 |
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 | 6,233 |
Primarily due to COVID-19 – includes timing of major restoration and renewal project relating to floating vessel fleet | Purchase of heritage and cultural items | 822 |
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https://www.transparency.gov.au/annual-reports/australian-national-maritime-museum/reporting-year/2019-20-39