Heide Museum of Modern Art 2010 Annual Report
Heide Museum of Modern Art 2010 Annual Report
Heide Museum of Modern Art 2010 Annual Report
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14. Notes to the Financial Statements<br />
Note 14: Economic Dependence<br />
Note 15: Segment <strong>Report</strong>ing<br />
Note 16: Cash Flow Information<br />
NOTE 14: ECONOMIC DEPENDENCE<br />
<strong>Heide</strong> <strong>Museum</strong> <strong>of</strong> <strong>Modern</strong> <strong>Art</strong><br />
<strong>2010</strong> <strong>Annual</strong> <strong>Report</strong><br />
The continued operation <strong>of</strong> <strong>Heide</strong> Park and <strong>Art</strong> Gallery is dependent on funding provided<br />
by the State Government <strong>of</strong> Victoria.<br />
NOTE 15: SEGMENT REPORTING<br />
The company operates predominately in one business and geographical segment being<br />
the operation <strong>of</strong> <strong>Heide</strong> <strong>Museum</strong> <strong>of</strong> <strong>Modern</strong> <strong>Art</strong> and surrounding parkland, located at 5 and<br />
7 Templestowe Road, Bulleen Victoria.<br />
NOTE 16: CASH FLOW INFORMATION<br />
Reconciliation <strong>of</strong> cashflow from operations with surplus for the year<br />
<strong>2010</strong><br />
$<br />
2009<br />
$<br />
Net surplus for the year 81,759 1,990,179<br />
Non-cash flows in surplus:<br />
Amortisation 353,486 309,157<br />
Depreciation 253,676 174,473<br />
Net (gain)/loss on sale investments – (133,765)<br />
Works <strong>of</strong> art (donated)/written <strong>of</strong>f (505,908) (945,500)<br />
Changes in assets and liabilities:<br />
(Increase)/decrease in trade and term receivables (395,333) 129,175<br />
(Increase)/decrease in other assets 3,071 (4,905)<br />
(Increase)/decrease in inventories 12,567 (7,558)<br />
Increase/(decrease) in trade payables and accruals 229,507 209,518<br />
Increase/(Decrease) in grants received in advance 94,219 (1,121,607)<br />
Increase/(decrease) in provisions 13,195 33,150<br />
140,239 632,317<br />
69
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