Queensland Art Gallery Annual Report 2002-03

FINANCIAL STATEMENTS 56 STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2003 Note Economic Economic Entity Entity 2003 2002 $'000 $'000 Revenue from ordinary activities Government Contributions 14,074 10,164 Gallery Store Revenue 1,055 1,204 Other Revenue 1,780 2,442 Total revenue from ordinary activities 16,909 13,810 Expenses from ordinary activities Employee Expenses 7,994 6,785 Supplies and Services 4 6,377 4,513 Gallery Store Expenses 5 661 510 Grants and Subsidies Depreciation 135 83 Other Expenses 6 88 99 Total expenses from ordinary activities 15,255 11,990 Borrowing costs 11 14 Net result for the reporting period 1,643 1,806 Non-owner movements in equity Net increase in asset valuation reserve 14 4,686 10,103 Net amount of each revenue, expense, valuation or other adjustment not disclosed above recognised as a direct adjustment to equity 14 (3) Tot al non-owner movements directly recognised in equity 4,686 10,103 Total changes in equity other than those resulting from transactions with owners as owners 6,329 11,909 The accompanying notes form part of these financial statements Parent Parent Entity Entity 2003 2002 $'000 $'000 14,074 10,164 1,055 1,204 2,937 1,803 18,066 13,171 7,994 6,785 6,287 4,422 661 510 500 500 135 83 47 70 15,624 12,370 11 14 2,431 787 4,686 10,103 (3) 4,683 10,103 7,114 10,890