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Note 1.2: Own-Source Income

2020

2019

$’000

$’000

Own-Source Revenue

Note 1.2A – Revenue from contracts with customers

Sale of goods

1,581

2,316

Rendering of services

6,033

6,738

Total sale of goods and rendering of services

7,614

9,054

Disaggregation of revenue from contracts with customers

Major product / service line:

Publications and Bookshops sales

1,581

2,316

Trove Collaborative Services contracts

3,853

3,997

Other service revenues including corporate support services, photocopying and scanning services, facilities hire.

1,235

1,194

Digitisation services

945

1,547

Total sale of goods and rendering of services

7,614

9,054

Accounting Policy
Revenue from the sale of goods is recognised when control has been transferred to the buyer, usually at point of sale for books and publications.

Revenue from provision of services are recognised once performance obligations under contracts are met under agreements and contracts with customers. The completion of performance obligations does not involve significant judgements.

The transaction price is the total amount of consideration to which the Library expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both.

Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed monthly and at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable.

2020

2019

$’000

$’000

Note 1.2B – Other revenue

Grants and other non-reciprocal payments by other entities

1,905

1,022

Donations

989

1,726

Other revenue

47

163

Total other revenue

2,941

2,911

Note 1.2C – Other gains

Resources received free of charge

1,752

1,834

Total other gains

1,752

1,834

Accounting Policy
Resources received free of charge
Resources received free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense.

Resources received free of charge are recorded as either revenue or gains depending on their nature.

Contributions of collection assets at no cost of acquisition or for nominal consideration received in the course of the ordinary activities of the NLA as legal deposit are recognised as gains at their fair value when the asset qualifies for recognition, unless received from another Government agency or authority because of a restructuring of administrative arrangements.

Sale of assets
Gains from disposal of assets are recognised when control of the asset has passed to the buyer.