Annual Report 2001-2002 - Tourism Western Australia - The ...

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Notes to and Forming Part of the Financial Statements 20. OPERATING LEASE COMMITMENTS The WATC leases its motor vehicle fleet from Matrix Finance Group Limited and rents property under lease to the Honourable Minister for Works. Total commitments for future vehicle leases and rentals at 30 June 2002 which have not been provided for in the accounts are as follows: 30/06/2002 30/06/2001 $’000 $’000 Due within one year 1,417 1,458 Due later than one year and not later than two years 963 1,231 Due later than two years and not later than five years 402 1,072 Due later than five years 263 203 21. COMMITMENTS – EXPENDITURE 3,045 3,964 As at 30 June 2002, commitments which have not been provided for in the 2001- 2002 accounts are as follows: There are no significant capital commitments. 30/06/2002 $’000 30/06/2001 $’000 Due within one year 5,253 5,165 Due later than one year and not later than two years 3,300 352 Due later than two years 2,800 322 22. CONTINGENT LIABILITIES The WATC has a contingent liability under an agreement with Paul McNamee Enterprises Pty Ltd and Paul Francis McNamee in respect to the Hopman Cup, an annual international mixed teams tennis event. Under the agreement, the WATC is required to meet the first $2,000,000 of any loss or deficit. 23. SUPPLEMENTARY FINANCIAL INFORMATION Write-offs Revenue and public and other property written off during the financial year. Losses Losses of public monies and other monies, and public and other property through theft, default or otherwise, written off. 01-02 $ 00-01 $ 35,388 6,232 - - Gifts Gifts of Public Property - - Debtors invoices totalling $34,295 raised prior to 30 June 2002, were written off during the year against the Provision for Doubtful Debts. From time to time, the Commission enters into forward contracts for transactions in foreign currency. At June 30, 2002, contracts totalling $526,000 for the payment of international office accommodation in Japan and for advertising campaigns in Singapore and Malaysia were awaiting settlement. 30/06/2002 30/06/2001 $’000 $’000 Forward Purchase Contracts 526 692 Forward Selling Contracts - (239) W A Western Australian Tourism Commission Western Australian Tourism Commission 82 Annual Report 2001-200202 Wester n Australian Tourism Commission Annual Report 2001-2002
Notes to and Forming Part of the Financial Statements 24. SEGMENT REPORTING ($’000) Operating Expenses National Marketing Tourism Information Distribution and Retail Booking Service International Marketing Event Tourism Convention and Incentive Travel 01-02 00-01 01-02 00-01 01-02 00-01 01-02 00-01 01-02 00-01 Administration Expenses 486 467 776 1,001 1,230 1,240 254 317 1 - Advertising and Promotions 5,420 2,384 337 107 7,377 5,946 - - 3 - Contract for Service - - - - - - - - 1,010 1,015 Event Operations - - - - - - 12,591 9,481 - - Grants, Tourist Facilities and Organisations 601 - 1,665 - - - - - - - Office Accommodation 225 219 243 229 484 458 207 204 7 42 Salaries, Wages and Superannuation 679 695 1,436 1,323 1,605 1,443 1,247 1,263 17 - Total Operating Expenses 7,411 3,765 4,457 2,660 10,696 9,087 14,299 11,265 1,038 1,057 Revenues from Services Event Operations - - - - - - 4,758 4,414 - - Industry Contributions 1024 508 24 16 2,405 2,487 - - - - Other Revenue 36 1 753 784 55 265 19 1 4 45 Total Revenues from Services 1,060 509 777 800 2,460 2,752 4,777 4,415 - 45 Net Cost of Services 6,351 3,256 3,680 1,860 8,236 6,375 9,522 6,850 1,034 1,012 Revenues from Government Appropriation 4,046 3,928 3,059 1,913 6,661 6,842 9,752 7,072 1,042 1,046 Grants Received 2,000 - - - 1,000 - - - - - Resources Received Free-of-Charge Total Revenues from Government 6,046 3,928 3,059 1,913 7,661 6,842 9,752 7,072 1,042 1,046 Change in net assets resulting from Operations (305) 672 (621) 53 (575) 467 230 222 8 34 W A Western Australian Tourism Commission Western Australian Tourism Commission 83 Annual Report 2001-200202 Wester n Australian Tourism Commission Annual Report 2001-2002
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