Financial statements
STATEMENT OF COMPREHENSIVE INCOME
For the year ended 30 June 2019
|
Original Budget |
||||||
|
2019 |
2018 |
20191 |
||||
|
Note |
$’000 |
$’000 |
$’000 |
|||
|
NET COST OF SERVICES |
||||||
|
Expenses |
||||||
|
Employee benefits |
A1.1 |
25,019 |
19,091 |
18,937 |
||
|
Supplier expenses |
A1.2 |
31,700 |
28,369 |
25,547 |
||
|
Depreciation and amortisation |
28,929 |
28,529 |
29,836 |
|||
|
Impairment loss allowance |
A1.3 |
3 |
32 |
- |
||
|
Write-down and impairment of other assets |
A1.4 |
1,519 |
371 |
50 |
||
|
Other expenses |
33 |
- |
5 |
|||
|
Total expenses |
87,203 |
76,392 |
74,375 |
|||
|
Own-source revenue |
||||||
|
Sale of goods and rendering of services |
A2.1 |
12,202 |
11,033 |
9,495 |
||
|
Contributions |
A2.2 |
10,226 |
7,586 |
10,000 |
||
|
Interest |
1,242 |
739 |
385 |
|||
|
Works of art - gifts |
5,277 |
7,023 |
- |
|||
|
Other revenue |
A2.3 |
2,411 |
9,542 |
2,815 |
||
|
Total own-source revenue |
31,358 |
35,923 |
22,695 |
|||
|
Gains |
||||||
|
Gains on sale of assets |
12 |
- |
- |
|||
|
Other gains |
A2.4 |
115 |
46 |
2,500 |
||
|
Total gains |
127 |
46 |
2,500 |
|||
|
Total own-source income |
31,485 |
35,969 |
25,195 |
|||
|
Net cost of services |
(55,718) |
(40,423) |
(49,180) |
|||
|
Revenue from Government |
C1.1 |
45,010 |
30,787 |
30,610 |
||
|
Deficit on continuing operations |
C2.1 |
(10,708) |
(9,636) |
(18,570) |
||
|
OTHER COMPREHENSIVE INCOME |
||||||
|
Revaluation increment |
- |
7,222 |
- |
|||
|
Total other comprehensive income |
- |
7,222 |
- |
|||
|
Total comprehensive income |
(10,708) |
(2,414) |
(18,570) |
|||
The above statement should be read in conjunction with the accompanying notes.
1. Budget reported in Portfolio Budget Statements 2018-19, published on 8 May 2018.
STATEMENT OF FINANCIAL POSITION
As at 30 June 2019
|
Original Budget |
||||||
|
2019 |
2018 |
20191 |
||||
|
Note |
$'000 |
$'000 |
$’000 |
|||
|
ASSETS |
||||||
|
Financial assets |
||||||
|
Cash |
B1.1 |
34,079 |
19,652 |
9,723 |
||
|
Investments |
B1.2 |
20,983 |
1,677 |
2,632 |
||
|
Trade and other receivables |
B1.3 |
1,052 |
828 |
1,223 |
||
|
Other financial assets |
479 |
241 |
- |
|||
|
Total financial assets |
56,593 |
22,398 |
13,578 |
|||
|
Non-financial assets |
||||||
|
Heritage and cultural assets |
B2.1 |
5,979,796 |
5,988,807 |
5,980,707 |
||
|
Land and buildings |
B2.1 |
303,538 |
307,450 |
312,640 |
||
|
Plant and equipment |
B2.1 |
4,226 |
5,083 |
2,653 |
||
|
Computer software |
B2.1 |
369 |
396 |
447 |
||
|
Inventory |
B2.2 |
507 |
737 |
- |
||
|
Prepayments |
414 |
334 |
362 |
|||
|
Total non-financial assets |
6,288,850 |
6,302,807 |
6,296,809 |
|||
|
Total assets |
6,345,443 |
6,325,205 |
6,310,387 |
|||
|
LIABILITIES |
||||||
|
Payables |
||||||
|
Supplier payables |
B3.1 |
4,946 |
3,656 |
2,167 |
||
|
Other payables |
B3.2 |
1,465 |
1,633 |
1,749 |
||
|
Total payables |
6,411 |
5,289 |
3,916 |
|||
|
Provisions |
||||||
|
Employee provisions |
B4.1 |
6,006 |
5,051 |
5,070 |
||
|
Total provisions |
6,006 |
5,051 |
5,070 |
|||
|
Total liabilities |
12,417 |
10,340 |
8,986 |
|||
|
Net assets |
6,333,026 |
6,314,865 |
6,301,401 |
|||
|
EQUITY |
||||||
|
Contributed equity |
345,104 |
316,235 |
338,904 |
|||
|
Asset revaluation reserve |
5,391,355 |
5,391,355 |
5,384,135 |
|||
|
Retained surplus |
596,567 |
607,275 |
578,362 |
|||
|
Total equity |
6,333,026 |
6,314,865 |
6,301,401 |
|||
The above statement should be read in conjunction with the accompanying notes.
1. Budget reported in Portfolio Budget Statements 2018-19, published on 8 May 2018.
NATIONAL GALLERY OF AUSTRALIA AND ITS CONTROLLED ENTITIES
STATEMENT OF CHANGES IN EQUITY
For the year ended 30 June 2018
|
Original Budget |
||||||
|
Note |
2019 |
2018 |
20191 |
|||
|
$’000 |
$’000 |
$’000 |
||||
|
CONTRIBUTED EQUITY |
||||||
|
Opening balance |
||||||
|
Balance carried forward from previous period |
316,235 |
299,607 |
316,235 |
|||
|
Contributions by owners |
||||||
|
Collection Development Acquisition Budget |
C1 |
16,605 |
16,628 |
22,669 |
||
|
Capital injection |
C1 |
12,264 |
- |
- |
||
|
Closing balance as at 30 June |
345,104 |
316,235 |
338,904 |
|||
|
ASSET REVALUATION RESERVE |
||||||
|
Opening balance |
||||||
|
Balance carried forward from previous period |
5,391,355 |
5,384,134 |
5,384,135 |
|||
|
Comprehensive income |
||||||
|
Revaluation increment |
- |
7,222 |
- |
|||
|
Closing balance as at 30 June |
5,391,355 |
5,391,355 |
5,384,135 |
|||
|
RETAINED SURPLUS |
||||||
|
Opening balance |
||||||
|
Balance carried forward from previous period |
607,275 |
616,911 |
596,932 |
|||
|
Comprehensive income |
||||||
|
Deficit for the period |
(10,708) |
(9,636) |
(18,570) |
|||
|
Closing balance as at 30 June |
596,567 |
607,275 |
578,362 |
|||
|
TOTAL EQUITY |
||||||
|
Opening balance |
||||||
|
Balance carried forward from previous period |
6,314,865 |
6,300,651 |
6,297,302 |
|||
|
Comprehensive income |
||||||
|
Deficit for the period |
(10,708) |
(9,636) |
(18,570) |
|||
|
Revaluation increment |
- |
7,222 |
- |
|||
|
Total comprehensive income |
(10,708) |
(2,414) |
(18,570) |
|||
|
Transactions with owners |
||||||
|
Contributions by owners |
||||||
|
Collection Development Acquisition Budget |
C1 |
16,605 |
16,628 |
22,669 |
||
|
Capital injection |
C1 |
12,264 |
- |
- |
||
|
Closing balance as at 30 June |
6,333,026 |
6,314,865 |
6,301,401 |
|||
The above statement should be read in conjunction with the accompanying notes.
1. Budget reported in Portfolio Budget Statements 2018-19, published on 8 May 2018.
CASHFLOW STATEMENT
For the year ended 30 June 2019
|
Original Budget |
||||||
|
Note |
2019 |
2018 |
20191 |
|||
|
$’000 |
$’000 |
$’000 |
||||
|
OPERATING ACTIVITIES |
||||||
|
Cash received |
||||||
|
Receipts from Government |
45,010 |
30,787 |
31,275 |
|||
|
Goods and services |
12,917 |
11,829 |
9,490 |
|||
|
Contributions |
9,791 |
7,586 |
8,000 |
|||
|
Net GST received |
2,138 |
1,458 |
1,912 |
|||
|
Interest |
1,145 |
739 |
385 |
|||
|
Other |
2,868 |
4,941 |
2,238 |
|||
|
Total cash received |
73,869 |
57,340 |
53,300 |
|||
|
Cash used |
||||||
|
Employees |
23,980 |
22,852 |
18,937 |
|||
|
Suppliers |
34,043 |
30,602 |
25,463 |
|||
|
Total cash used |
58,023 |
53,454 |
44,400 |
|||
|
Net cash from operating activities |
15,846 |
3,886 |
8,900 |
|||
|
INVESTING ACTIVITIES |
||||||
|
Cash received |
||||||
|
Proceeds from buildings, plant and equipment |
12 |
- |
- |
|||
|
Investments |
55,789 |
1,001 |
- |
|||
|
Total cash received |
55,801 |
1,001 |
- |
|||
|
Cash used |
||||||
|
Payments for buildings, property, plant and equipment |
5,008 |
4,563 |
12,964 |
|||
|
Purchase of computer software |
231 |
95 |
- |
|||
|
Payments for collection development acquisitions |
5,872 |
11,886 |
16,605 |
|||
|
Investments |
74,978 |
- |
- |
|||
|
Total cash used |
86,089 |
16,544 |
29,569 |
|||
|
Net cash used by investing activities |
(30,288) |
(15,543) |
(29,569) |
|||
|
FINANCING ACTIVITIES |
||||||
|
Cash received |
||||||
|
Collection Development Acquisition Budget |
16,605 |
16,628 |
16,605 |
|||
|
Capital funding grants |
- |
4,958 |
- |
|||
|
Capital |
12,264 |
- |
6,064 |
|||
|
Total cash received |
28,869 |
21,586 |
22,669 |
|||
|
Cash used |
||||||
|
Other |
- |
- |
2,000 |
|||
|
Total cash used |
- |
- |
2,000 |
|||
|
Net cash from financing activities |
28,869 |
21,586 |
20,669 |
|||
|
Net (decrease)/increase in cash held |
14,427 |
9,929 |
- |
|||
|
Cash at the beginning of the reporting period |
19,652 |
9,723 |
9,723 |
|||
|
Cash at the end of the reporting period |
B1.1 |
34,079 |
19,652 |
9,723 |
||
The above statement should be read in conjunction with the accompanying notes.
1. Budget reported in Portfolio Budget Statements 2018-19, published on 8 May 2018.
Visit
https://www.transparency.gov.au/annual-reports/national-gallery-australia/reporting-year/2018-2019-24