Annual Report - QPAC

QUEENSLAND PERFORMING ARTS TRUST
2009 2008
$’000 $’000
(b)
Reconciliation of net cash from operating activities to net result for the period
Net result for the period (2,396) 1,777
Depreciation and amortisation 679 685
Net (profit)/loss on sale of non-current assets (25) 15
Investment income (388) (825)
Change in operating assets and liabilities:
(Increase)/decrease in receivables (1,741) (351)
(Increase)/decrease in prepayments (901) 81
(Increase)/decrease in inventories (36) 19
(Increase)/decrease in GST input tax credits receivables (96) 154
Increase/(decrease) in GST payables 127 29
Increase/(decrease) in operating payables 1,030 137
Increase/(decrease) in accrued employee benefits 126 84
Net cash from operating activities (3,621) 1,805
Note 20
Asset Revaluation Reserve by Class:
Balance Revaluation Revaluation Balance
1 July 2008 Increments Decrements 30 June 2009
$000 $000 $000 $000
Land 1,047 – – 1,047
Buildings 121 – – 121
Heritage and cultural assets 2,006 – – 2,006
3,174 – – 3,174
Note 21
Commitments
Non-Cancellable Operating Lease Commitments
At 30 June the Trust had the following operating lease commitments inclusive of GST:
2009 2008
$’000 $’000
Not later than one year 20 1
Later than one year and not later than five years 10 –
Later than five years – –
30 1
The total of operating lease payments for the year was $22,866 (2008 $33,580).
The Trust has lease agreements for the rental of motor vehicles. The rentals for all agreements are paid on a
monthly instalment basis. There are no financial or other restrictions imposed by any of these agreements.
Notes to the Financial Report for the year ended 30 June 2009
59