Queensland Art Gallery Annual Report 1998-99

Queensland Art Gallery 5 ü Appendix Financial Statements Qu e e n s l a n d Art Gallery Board o f Trustees Qu e e n s l a n d Art Gallery Board o f Trustees Operating S t a t e m e n t f o r Year Ended 3 0 J u n e 1999 S t a t e m e n t o f Financial Position a s a t 3 0 J u n e 1999 Note 1999 1998 Note 1999 1998 $ 0 0 0 $ 0 0 0 $ 0 0 0 $000 Cost of Services Current Assets Operating Expenses Cash 416 (672) Program Delivery Expenses Receivables 5 83 392 Employee Expenses 2 5,561 4,776 Investments 6 1,197 2,041 Supplies and Services 3 3,477 3,734 Loans and Advances 2 17 Other Expenses 23 2 4 Inventories - Gallery Store 2 6 6 328 Prepayments 134 167 Non-Program Delivery Expenses Associated Acquisition Costs - Art Works 2 0 2 4 Total Current Assets 2,098 2,273 Installations, Scholarships etc 83 85 Gallery Store Expenses 9 0 2 8 4 6 Non-Current Assets Other Expenses 2 4 4 115 Art Works 7 118,503 109,752 Depreciation and Amortisation 121 130 Plant and Equipment 8 3 4 0 332 Research Library Materials 9 9 8 5 908 Total Operating Expenses 10,431 9,734 Total Non-Current Assets 119,828 110,992 Operating Revenue From Independent Sources Gallery Store Revenue 735 8 2 4 Total Assets 121,926 113,265 Other Revenues 4 1,264 925 Current Liabilities Total Operating Revenue From Independent Sources 1,999 1,749 Creditors 6 0 362 Borrowings - 20 Net Cost of Services (8,432) (7,985) Provisions - Employee Entitlements 10 5 6 5 571 Revenue from Government Total Current Liabilities 6 2 5 953 Grant 9,057 8,885 Non-Current Liabilities Change in Net Assets Resulting from Operations 6 2 5 9 0 0 Provisions - Employee Entitlements 10 6 4 6 537 Accumulated Funds at 1 July 101,418 100,518 Total Non-Current Liabilities 6 4 6 537 Accumulated Funds at 3 0 June 102,043 101,418 Total Liabilities 1,271 1,490 To be read in conjunction with the attached notes Net Assets 120,655 111,775 Equity Accumulated results from operations 102,043 101,418 Asset Revaluation Reserves 11 18,612 10,357 Total Equity 120,655 111,775 To be read in conjunction with the attached notes