Annual Report 2010-2011 (PDF - 2.47 mb) - Royal Botanic Gardens ...

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Contents OUR ORGANISATION Financial overview Revenue Generation and Budgetary Objectives The Royal Botanic Gardens Board Victoria’s income is primarily annual recurrent funding from the Victorian Government, supplemented by income generated through grants, donations, fund-generating programs, business operations and investment. The annual recurrent budget is allocated to salaries, operating costs and minor capital works. The main budgetary objectives of the organisation are to: – provide for the operational growth of RBG Cranbourne associated with the development of the Australian Garden – improve the curation of the State Botanical Collection – identify and implement new business opportunities building on the Royal Botanic Gardens’ brand, while fostering the expansion of current revenue sources, and – achieve a consistent growth in corporate, community and philanthropic contributions of at least 10 per cent per annum. Victorian Government Income During 2010–11, annual funding provided by the Department of Sustainability and Environment (DSE) enabled the repair or replacement of the most urgent of those assets requiring attention, rectification of building defects, path, kerb and water main replacements, installation of water tanks for office use and repair of the Herbarium lift. Work was also undertaken on replacement of part of the RBG Melbourne perimeter fence, which was required as a result of the City of Melbourne’s activities relating to the upgrade of The Tan Track. In relation to major capital works, construction of the Working Wetlands Part A project in RBG Melbourne, which aims to revitalise the RBG Melbourne lake system, is near completion and significant progress was made on the landscape construction works for the Australian Garden Stage 2 project, which are expected to be completed by mid-2012. Table 3: Financial results for 2010–11 2010–11 $ Government funding State Government – Parks and Reserve Trust Account grants 11,798,744 – Other grants 676,537 Commonwealth Government 367,132 Sponsorship 4,004,471 General Revenue 6,239,663 Total Expenses (19,552,693) Operating Surplus/(Deficit) 3,533,854 page 24
Contents Our Organisation Comparison of financial performance and position For the financial year ended 30 June 2011, the Royal Botanic Gardens Board Victoria’s operating result was higher than the previous year, mainly due to an increase in the level of revenue received for a number of large capital projects, including the Australian Garden Stage 2 project and the Working Wetlands project. The corresponding expenditure on these projects is predominantly reflected as an increase in the Royal Botanic Gardens Board Victoria’s total assets and not as operating expenses. In addition, grant income is higher in the current year due to receipt of additional funds from the Government to assist in meeting the costs associated with staging a major show garden in May 2011 at the Royal Horticultural Society Chelsea Flower Show and a higher level of grant income for Plant Sciences and Biodiversity Division projects and the Working Wetlands project. In relation to the Royal Botanic Gardens Board Victoria’s financial position, the decrease in cash and deposits balances as at 30 June 2011 was mainly due to the use of unspent revenue from previous reporting periods for the Australian Garden Stage 2 project, the corresponding costs for which will be further incurred over the 2011–12 financial year. The Royal Botanic Gardens Board Victoria’s non-financial physical asset balance has increased significantly due to the independent revaluation of land, buildings, infrastructure and cultural assets (the latter of which includes the State Botanical Collection), resulting in a corresponding increment in the Physical Asset revaluation surplus equity balance. The total equity balance has also increased as a result of the 2010–11 Government funding for the Australian Garden Stage 2 project, which was received as contributed capital. Table 4: Five-year comparison of financial results 2010–11 2009–10 2008–09 2007–08 2006–07 Government Funding $ $ $ $ $ State Government Parks and Reserve Trust Account grants 11,798,744 11,106,698 10,647,000 10,219,000 9,689,000 Other grants 676,537 116,051 177,600 155,299 422,940 Commonwealth 367,132 187,157 143,697 356,753 158,817 Government Sponsorship 4,004,471 3,749,484 4,638,694 3,976,510 2,847,718 General Revenue 6,239,663 6,333,463 5,629,437 5,102,561 4,007,596 Total Expenses (19,552,693) (18,376,834) (17,553,313) (17,856,205) (16,324,161) Operating Surplus (3,533,854) 3,116,019 3,683,115 1,953,918 801,910 Net cash flow from operating activities 4,541,927 5,094,955 4,294,533 3,011,652 1,835,828 Total assets 425,853,534 273,739,752 260,206,038 225,999,403 153,671,997 Total liabilities 4,733,852 4,065,026 3,649,391 3,493,337 3,380,336 Royal Botanic Gardens Board Victoria Annual Report 2010–11 page 25
Page 1 and 2: Royal Botanic Gardens Board Victori
Page 3 and 4: Contents Contents Introduction 2 Ou
Page 5 and 6: Contents Introduction Definitions T
Page 7 and 8: Contents Corporate governance The o
Page 9 and 10: Contents Our Organisation Royal Bot
Page 11 and 12: Contents Our Organisation RBG Melbo
Page 13 and 14: Contents Our Organisation Corporate
Page 15 and 16: Contents Our Organisation Environme
Page 17 and 18: Contents Our Organisation A new mul
Page 19 and 20: Contents Our Organisation Risk Mana
Page 21 and 22: Contents Our Organisation Education
Page 23 and 24: Contents Our Organisation Legislati
Page 25: Contents Our Organisation Conformit
Page 29 and 30: Contents Employee profile Employee
Page 31 and 32: Contents Our EMPLOYEES employees an
Page 33 and 34: Contents Our EMPLOYEES Employee rec
Page 35 and 36: Contents OUR achievements - Strateg
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Contents OUR achievements - Strateg
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Contents OUR SUPPORTERS Mrs Diana H
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Contents OUR SUPPORTERS Mr Peter Lo
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Contents OUR SUPPORTERS Friends of
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Contents OUR SUPPORTERS Membership
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Contents OUR SUPPORTERS RBG Cranbou
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Contents OUR SUPPORTERS Honorary As
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Contents FINANCIAL STATEMENTS 126 A
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Contents financial statements Royal
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Contents financial statements
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Contents appendix Appendix One Whis
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Contents appendix 3. Outline and De
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Contents appendix - impartially ass
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Contents appendix A disclosure must
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Contents appendix Procedural Fairne
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Contents appendix 3.10 Managing the
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Contents appendix 3.15 Criminal Off
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Contents Planning Constructing Deta
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Annual Report 2010-2011 (PDF - 2.47 mb) - Royal Botanic Gardens ...

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