Full report - State Library of Victoria - Victoria Online

Consolidated State Library
of Victoria
2008 2007 2008 2007
BALANCE SHEET AS AT 30 JUNE 2008 Note $’000 $’000 $’000 $’000
Current assets
Cash and cash equivalents 2 604 1,315 392 1,115
Receivables 3 2,187 1,538 2,190 1,564
Other financial assets 4 26,253 28,540 13,000 13,500
Other 5 652 763 652 763
Total current assets 29,696 32,156 16,234 16,942
Non-current assets
Property, plant and equipment 6 434,967 440,646 434,968 440,646
Library collections 7 334,847 333,011 334,847 333,011
Deferred expenditure 8 1 1 1 1
Total non-current assets 769,815 773,658 769,816 773,658
Total assets 799,511 805,814 786,050 790,600
Current liabilities
Payables 9 2,482 3,047 2,482 3,047
Interest-bearing liabilities 10 22 39 22 39
Provisions 11 4,992 4,387 4,992 4,387
Total current liabilities 7,496 7,473 7,496 7,473
Non-current liabilities
Provisions 11 312 1,236 312 1,236
Interest-bearing liabilities 10 72 68 72 68
Total non-current liabilities 384 1,304 384 1,304
Total liabilities 7,880 8,777 7,880 8,777
Net assets 791,631 797,037 778,170 781,823
Equity
Contributed capital 1(b), 12(a) 551,610 552,728 551,610 552,728
Asset revaluation reserve 12(c) 198,150 198,150 198,150 198,150
General reserve 12(d) 1,000 1,000 1,000 1,000
Donations and bequests reserve 12(e), 13 14,391 14,116 1,696 1,830
Specific purpose grants reserve 12(f), 14 10,325 8,921 9,442 7,854
Financial assets valuation reserve 12(g) (117) 1,861 – –
Accumulated surplus 12(b) 16,272 20,261 16,272 20,261
Total Equity 791,631 797,037 778,170 781,823
The above Balance Sheet should be read in conjunction with the accompanying notes.
OPERATING STATEMENT FOR THE
FINANCIAL YEAR ENDED 30 JUNE 2008
Revenue
Grants from government
—Current nature 15 35,058 34,092 35,058 34,092
—Depreciation equivalent 1,118 7,556 1,118 7,556
—Capital asset charge 1(c) 41,403 40,459 41,403 40,459
Trading 16 2,817 2,775 2,806 2,766
Externally funded projects 17 6,754 3,439 6,754 3,439
Donations and bequests 18 3,100 2,204 3,173 1,786
Investment revenue 19(a) 1,590 1,511 894 785
Realised capital gains 19(b) 69 – – –
Total Revenue 91,909 92,036 91,206 90,883
Expenses
Salaries and related expenses 20 28,096 26,132 27,859 25,886
Buildings and facilities 21 5,685 5,950 5,685 5,950
Bad and doubtful debts 1(e) – 2 – 2
Professional and finance 22 1,124 1,029 1,055 983
Borrowing costs 23 7 6 7 6
Grants distributed 24 789 649 789 649
Government capital assets charge 1(c) 41,403 40,459 41,403 40,459
Other expenses from ordinary activities 25 8,532 6,956 8,430 6,867
Realised capital losses 19(b) 69 – – –
Loss on sale of assets 394 1 394 1
Total Expenses 86,099 81,184 85,622 80,803
Net result for the year
Before capital and specific items 5,810 10,852 5,584 10,080
Capital and specific Items
Depreciation 1 (i) 8,119 7,053 8,119 7,053
Net result for the year (2,309) 3,799 (2,535) 3,027
The above Operating Statement should be read in conjunction with the accompanying notes.
Consolidated State Library
of Victoria
2008 2007 2008 2007
STATEMENT OF CHANGES IN EQUITY FOR THE Note $’000 $’000 $’000 $’000
FINANCIAL YEAR ENDED 30 JUNE 2008
Total equity at beginning of the financial year 797,037 741,625 781,823 729,044
Equity contributed from government (1,118) 3,887 (1,118) 3,887
Asset revaluation – 45,865 – 45,865
Unrealised capital gains / (losses) (1,979) 1,861 – –
Net result for the year (2,309) 3,799 (2,535) 3,027
Total Equity at End of the Financial Year 12(b) 791,631 797,037 778,170 781,823
The above Statement of Changes in Equity should be read in conjunction with the accompanying notes.
CASH FLOW STATEMENT FOR THE FINANCIAL
YEAR ENDED 30 JUNE 2008
Cash flows from operating activities
Receipts from government
Government appropriation – Current nature 35,058 34,092 35,058 34,092
Receipts from other entities 1,517 2,204 1,590 1,156
Donations (other than in kind) and bequests 3,065 3,052 3,053 3,043
Trading receipts 6,394 3,783 6,394 3,783
Grants 798 1,745 798 1,745
Asset replacement grants 831 1,511 820 785
Dividends and interest 991 1,035 991 1,035
GST recovered from the ATO 69 – – –
Realised capital gains (69) – – –
Realised capital losses (47,909) (44,356) (47,540) (43,269)
Payments to suppliers and employees
Net cash flows provided from
operating activities 29(b) 745 3,066 1,164 2,370
Cash flows from investing activities
Proceeds from / (payments for) investments 832 1,130 500 –
Proceeds from sale of property,
plant and equipment 29 2 29 –
Payment for equipment (525) (608) (525) (608)
Payment for Library collection (2,384) (2,365) (2,384) (2,362)
Net cash used in investing activities (2,048) (1,841) (2,380) (2,970)
Cash flows from financing activities
Repayment of finance lease (7) (6) (7) (6)
Net cash used in financing activities (7) (6) (7) (6)
Net increase / (decrease) in cash held (1,310) 1,219 (1,223) (606)
Cash and cash equivalents
20,141 18,922 14,615 15,221
at beginning of the year
Cash and cash equivalents at end of the year 29(a) 18,831 20,141 13,392 14,615
The above Cash Flow Statement should be read in conjunction with the accompanying notes.