Western Australian Museum Annual Report 2003-2004

More documents

Recommendations

Info

Accounts and Financial Statements 23. Explanatory Statement (continued) (ii) Significant variations between estimates and actual results for the financial year Details and reasons for significant variations between estimates and actual results are detailed below. Significant variations are considered to be those greater than 10% and $200,000. In the interests of concise reporting those variations between the 2004 actual and 2003 actual that have already been explained in the previous notes have not been repeated. 102 2004 2003 Variance Actual Estimates Over/(under) $000 $000 $000 Employee expenses 12,484 10,131 2,353 Supplies & services 3,026 4,561 (1,535) Administration expenses 1,311 1,741 (430) Accommodation expenses 2,081 608 1,473 User fees and charges 1,899 1,474 425 Other grants and contributions 486 150 336 Employee expenses A major reason for the increase in employee expenses relates to the salaries, wages and superannuation costs for the staff employed on the Kew Street Relocation Project which was not included in original budget estimates. Supplies and services The total for supplies and services costs is well below budget estimates as electricity, gas and water costs which were originally budgeted for as supplies and services costs have been reclassified as accommodation expenses in the current year. Accommodation expenses The total for accommodation expenses is well above budget estimates as electricity, gas and water costs which were originally budgeted for as supplies and services costs have been reclassified as accommodation expenses in the current year. User fees and charges The total collected as user fees and charges in the current year has exceeded initial budgeted levels primarily in the areas of venue hire, consultancy fees and education services. Other grants and contributions Other grants and contributions have exceeded budget estimates primarily from revenues generated through the Museum’s Documentary Unit. 24. Events occurring after Reporting Date The WA Museum has no subsequent events (other than those events whose financial effects have already been brought to account) to report. WESTERN AUSTRALIAN MUSEUM ANNUAL REPORT 2003–2004
Accounts and Financial Statements 25. Financial Instruments (a) Interest Rate Risk Exposure The following table details the WA Museum’s exposure to interest rate risk as at the reporting date: Fixed Interest Rate Maturity Weighted Variable Less 1 to 5 More Non- Total Average Interest than 1 Years than 5 Interest Effective Interest Rate Rate Year Years Bearing 2004 % $000 $000 $000 $000 $000 $000 103 5.08 Financial Assets Cash assets 6,805 - - - - 6,805 Restricted cash assets 1,268 - - - - 1,268 Receivables - - - - 346 346 Other Current Assets - - - - 104 104 8,073 - - - 450 8,523 Financial Liabilities Payables - - - - 296 296 Accrued expenses - - - - 95 95 Income received in advance - - - - 35 35 2003 4.87 - - - - 426 426 Financial assets 2,891 - - - 325 3,216 Financial liabilities - - - - 261 261 (b) Credit Risk Exposure The WA Museum has limited credit risk exposure. The carrying amount of financial assets recorded in the financial statements, other than debt receivables, represents the authorities maximum exposure to credit risk. (c) Net Fair Values The carrying amount of financial assets and financial liabilities recorded in the financial statements are not materially different from their net fair values, determined in accordance with the accounting policies disclosed in note 1 to the financial statements. WESTERN AUSTRALIAN MUSEUM ANNUAL REPORT 2003–2004
Page 1 and 2:
Western Australian Museum Annual Re
Page 3 and 4:
contents 3 Public Access 4 Letter t
Page 5 and 6:
5 Letter to the Minister The Hon Sh
Page 7 and 8:
PART 1 Introduction 7 Minister for
Page 9 and 10:
9 The Museum’s Vision, Mission, F
Page 11 and 12:
11 Executive Director’s Review As
Page 13 and 14:
13 Relocation The move from the Fra
Page 15 and 16:
Visitors to Western Australian Muse
Page 17 and 18:
17 Trustees, Boards and Committees
Page 19 and 20:
19 Trustees, Boards and Committees
Page 21 and 22:
21 Western Australian Museum Founda
Page 23 and 24:
23 Friends of the Western Australia
Page 25 and 26:
PART 2 The Year Under Review 25 WES
Page 27 and 28:
27 Western Australian Museum- Scien
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Western Australian Maritime Museum
Page 43 and 44:
43 Western Australian Maritime Muse
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52: 51 Western Australian Maritime Muse
Page 53 and 54: 53 Western Australian Maritime Muse
Page 55 and 56: 55 Western Australian Museum-Albany
Page 57 and 58: 57 Western Australian Museum-Gerald
Page 63 and 64: 63 Western Australian Museum- Kalgo
Page 65 and 66: 65 Visitor Services EDUCATION AND L
Page 67 and 68: 67 Visitor Services • Armadale Re
Page 69 and 70: 69 Visitor Services Visitor Service
Page 71 and 72: 71 Visitor Services Sight Unseen: T
Page 73 and 74: 73 Museum Services The work of Dr I
Page 75 and 76: 75 Museum Services preservation of
Page 77 and 78: Corporate Operations 77 WESTERN AUS
Page 79 and 80: 79 Corporate Operations With the op
Page 81 and 82: 81 Corporate Operations tour materi
Page 83 and 84: 83 Corporate Operations EMPLOYMENT
Page 85 and 86: PART 3 Compliance Requirements 85 W
Page 87 and 88: Accounts and Financial Statements 8
Page 89 and 90: Accounts and Financial Statements S
Page 91 and 92: Accounts and Financial Statements N
Page 101: Accounts and Financial Statements 2
Page 107 and 108: 107 Outcomes, Outputs and Performan
Page 113 and 114: appendix A Our grateful thanks to t
Page 115 and 116: appendix B Volunteers The Trustees
Page 117 and 118: appendix C Staff List Terrestrial V
Page 119 and 120: appendix C Geoff Wall Moya Sharp Gr
Page 121 and 122: appendix D S. Anstey • Member, Ad
Page 123 and 124: appendix D • Editorial board, Jou
Page 125 and 126: appendix F RESEARCH PUBLICATIONS 12
Page 127 and 128: appendix F 127 Publications List Mo
Page 129 and 130: appendix F 129 Publications List De
show all

Western Australian Museum Annual Report 2003-2004

Create successful ePaper yourself

Delete template?

Save as template?