foundation annual report 2009â10 - National Gallery of Australia

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NATIONAL GALLERY OF AUSTRALIA FOUNDATION FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2010 NOTES TO THE FINANCIAL STATEMENTS 8. REMUNERATION OF AUDITORS Amounts received, or due and receivable, by the Auditor- General for: Audit of the financial report Total remuneration of auditors 2010 2009 $ $ 7,600 7,800 7,600 7,800 The Auditor-General received no other benefits. 9. FINANCIAL REPORTING BY SEGMENTS The Foundation operates in one business segment. The Foundation is a non profit organisation and operates to assist the National Gallery of Australia to: · maintain, improve and develop the national collection of works of art owned by the National Gallery of Australia; · promote, maintain, improve and develop the National Gallery of Australia; · support the development and conduct by the National Gallery of Australia of travelling exhibitions of works of art; and · raise money to achieve these objectives. The Foundation operates from the Australian Capital Territory. 10. RELATED PARTY The National Gallery of Australia has control over the Foundation as the Foundation’s Constitution provides that its Board shall consist of no more than thirty one persons, of whom the Director of the Gallery, and the Chairperson and Deputy Chairperson of the National Gallery Council are ex-officio directors of the Foundation and the remaining directors of the Foundation including the Chair are appointed by the National Gallery of Australia Council. Transactions with the National Gallery of Australia during the period are disclosed in note 3 to the financial statements. 11. COMPANY LIMITED BY GUARANTEE The Foundation is a company incorporated under the Corporations Act as a company limited by guarantee and not having share capital. Each member of the Foundation undertakes to contribute to the property of the Foundation in the event of it being wound up while he or she is a member or within one year after he or she ceases to be a member up to the value of $100. This payment will contribute to meeting the debts and liabilities of the Foundation as well as winding up expenses. 12. RECONCILIATION OF NET CASH INFLOWS FROM OPERATING ACTIVITIES TO NET PROFIT/(LOSS) Total comprehensive income Change in operating assets and liabilities (Increase)/Decrease in receivables Increase/(Decrease) in payables Net cash from / (used by) operating activities 2010 2009 $ $ 5,166,977 300,800 (14,103) 184 (200) 250 5,152,674 301,234 74 national gallery of australia
NATIONAL GALLERY OF AUSTRALIA FOUNDATION FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2010 NOTES TO THE FINANCIAL STATEMENTS 13. COMMITMENTS The Foundation did not have any commitments at balance date. 14. CONTINGENCIES The Foundation did not have any contingencies at balance date. 15. SUBSEQUENT EVENTS There are no events that occurred after balance date that have an impact on the 2009/10 financial statements. FOUNDATION ANNUAL REPORT 2009–10 75
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FOUNDATION ANNUAL REPORT 2009-10
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Clement Meadmore Australia 1929 - U
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Ray James Tjangala Pintupi people b
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Chairman’s Report tapestry work b
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Chairman’s Report Bequest Circle
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Mirdidingkingathi Juwarnda (Sally G
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Contributors DONATION American Frie
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Contributors Kaely Woods and Mike W
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Contributors LF Gillard Michael Gil
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Page 28 and 29: Khai Liew born Malaysia 1952 to Aus
Page 32 and 33: Albert Namatjira Western Arrernte p
Page 34 and 35: Membership Studio One Inc Ken Teagu
Page 36 and 37: Membership Marcia Rankin Reader’s
Page 38 and 39: Membership Bob Bradley John Bradley
Page 40 and 41: Membership Sue Gazal Diana Gaze W G
Page 42 and 43: Membership Manfred Mackenzie Mouli
Page 44 and 45: Membership Carmen Scott Peter Scott
Page 46 and 47: Stephen Dupont born Australia 1967
Page 48 and 49: Alick Tipoti born Australia 1975 Th
Page 50 and 51: Robert Dowling England 1827-1886 Au
Page 52 and 53: George Baldessin Italy 1939 - Austr
Page 56 and 57: Tetum people, East Timor or Indones
Page 60 and 61: NATIONAL GALLERY OF AUSTRALIA FOUND
Page 82 and 83: Mawalan Marika Rirratjingu people A
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foundation annual report 2009â10 - National Gallery of Australia