Queensland Art Gallery Annual Report 2001-02

2002 2001 2002 2001 $'000 $'000 $'000 $'000 NOTE 11 INTEREST- BEARING LIABILITIES NOTE 14 RECONCILIATION OF NET Current SURPLUS/DEFICIT TO NET CASH PROVIDED Queensland Treasury Corporation Borrowings 52 51 BY (USED IN) OPERATING ACTIVITIES Total Current 52 51 Surplus/deficit from ordinary activities 787 1,062 Non-cash items Non-current Depreciation - Plant and Equipment 83 111 Queensland Treasury Corporation Borrowings 169 220 [Gain]/Loss on Sale of Plant and Equipment 9 [Ga in ]/Loss on Deaccessioning of Art Works [38] Total Non-Current 169 220 Net leave liabilities transferred to other government entities [1] The market value of the debt as notified Purchases of Prior Year Art Works 125 by Queensland Treasury Corporation at 30 June 2002 was $221,481. Change in Net Assets and Liabilities Decrease/[lncrease] in Receivables 321 [260] Decrease/I Increase] in Loans and Advances 2 NOTE 12 PROVISIONS - Decrease/llncrease] in Inventories [196] [36] EMPLOYEE ENTITLEMENTS Decrease/[lncrease] in Prepayments [3] 11 Current [Decreasel/lncrease in Accounts Payable [144] [253] Recreation Leave 637 540 [Decrease]/lncrease in Employee Provisions 97 47 637 540 Net Cash Provided By/(Used in) Operating Activities 954 770 NOTE 13 CHANGES IN EQUITY NOTE 15 CASH Accumulated General Asset For the purposes of the Statement of Cash results from Equity Revaluation Flows, cash includes cash on hand and in operations Reserve banks and investments in money market 2002 2001 2002 2001 2002 2001 instruments. Cash at the end of the financial $'000 $'000 $'000 $'000 $'000 $'000 year as shown in the Statement of Cash Flows is reconciled to the related items in the Balance 1 July 102,865 101,803 714 718 50,000 24,250 Statement of Financial Position as follows: Net surplus 787 1,062 Cash: Increase in Asset General Fund 262 245 Revaluation Reserve Trust Fund 234 80 Art Works - Revaluation 9,475 24,166 Art Works - Qld Art Gallery Investments: Foundation 774 355 General Fund Research Library Materials [1461 1,229 Trust Fund 2,000 1,500 Net leave liabilities transferred to other government entities [41 2,496 1,825 Balance 30 June 103,652 102,865 714 714 60,103 50,000 Closing balance of Asset revaluation reserve by class: Art Works 50,840 40,591 Research Library Materials 9,263 9,409 Total - Asset Revaluation Reserve 60,103 50,000 75