Queensland Art Gallery Annual Report 1996-97

NOTES T O A N D FORMI NG PART OF T H E ACCOUNTS FOR YEAR ENDED 30 JUNE 1997 1997 1996 $1000 $'OOO NOTE 18 LEASE -75 GREY STREET SOUTH BRISBANE Lease commitments: (i) not later than one year 47 6 () later than one year and not later than two years - 38 $47 $99 NOTE 19 TRUST FUND In accordance with the Queens/and Art Gallery Act / 987 the Queensland Art Gallery Board of Trustees operates a separate Trust Fund through which various activities are maintained. Separate accounting is carried out for each of these activities. The transactions are incorporated in the Operating Statement. Balance- I July 1,696 1,670 Receipts 1,026 1,223 Expenditure (1,359) (1,199) Balance - 30 June $1,363 $ 1,696 Represented by: Cash 16 361 Investments 1,347 1,335 $1,363 $1,696 Included in the above balance is $ 17 1,624 of restricted funds.