Queensland Art Gallery Annual Report 1995-96

F I NANC I AL STATEMENTS NOTES TO A N D FORMING PART OF T HE ACCOUNTS FOR YEAR ENDED 30 JUNE 1996 1996 1995 5'000 $'OOO NOTE 18 LEASE —75 GREY STREET SOUTH BRISBANE Lease commitments: (i) not later than one year 61 61 (ii) later than one year and not later than two years 38 61 (iii) later than two years and not later than five years 38 (iv) later than five years - - $99 $160 NOTE 19 TRUST FUND In accordance with the Queens/and Art Gollery Act 1987 the Queensland Art Gallery Board of Trustees operates a separate Trust Fund through which various activities are maintained. Separate accounting is maintained for each of these activities. The transactions are incorporated in the Operating Statement. Opening Balance at I July 1,670 1,125 Receipts 1,225 2,765 Expenditure (1,199) (2,220) * * 0 o o o o * * * 0 Closing Balance at 30 June $1,696 $1,670 0 0 . . . 0 0 0 0 0 0 0 0 . . . 0 0 0 Represented by: Cash 361 320 Investments 1,335 1,350 $1,696 $1,670