Annual Report 2010-2011 (PDF - 2.47 mb) - Royal Botanic Gardens ...
Annual Report 2010-2011 (PDF - 2.47 mb) - Royal Botanic Gardens ...
Annual Report 2010-2011 (PDF - 2.47 mb) - Royal Botanic Gardens ...
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Contents<br />
Our Organisation<br />
Comparison of financial performance and position<br />
For the financial year ended 30 June <strong>2011</strong>, the <strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board<br />
Victoria’s operating result was higher than the previous year, mainly due to an<br />
increase in the level of revenue received for a nu<strong>mb</strong>er of large capital projects,<br />
including the Australian Garden Stage 2 project and the Working Wetlands project.<br />
The corresponding expenditure on these projects is predominantly reflected as<br />
an increase in the <strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board Victoria’s total assets and not as<br />
operating expenses. In addition, grant income is higher in the current year due<br />
to receipt of additional funds from the Government to assist in meeting the costs<br />
associated with staging a major show garden in May <strong>2011</strong> at the <strong>Royal</strong> Horticultural<br />
Society Chelsea Flower Show and a higher level of grant income for Plant Sciences<br />
and Biodiversity Division projects and the Working Wetlands project.<br />
In relation to the <strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board Victoria’s financial position, the<br />
decrease in cash and deposits balances as at 30 June <strong>2011</strong> was mainly due to<br />
the use of unspent revenue from previous reporting periods for the Australian<br />
Garden Stage 2 project, the corresponding costs for which will be further incurred<br />
over the <strong>2011</strong>–12 financial year.<br />
The <strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board Victoria’s non-financial physical asset balance<br />
has increased significantly due to the independent revaluation of land, buildings,<br />
infrastructure and cultural assets (the latter of which includes the State <strong>Botanic</strong>al<br />
Collection), resulting in a corresponding increment in the Physical Asset revaluation<br />
surplus equity balance. The total equity balance has also increased as a result of the<br />
<strong>2010</strong>–11 Government funding for the Australian Garden Stage 2 project, which was<br />
received as contributed capital.<br />
Table 4: Five-year comparison of financial results<br />
<strong>2010</strong>–11 2009–10 2008–09 2007–08 2006–07<br />
Government Funding<br />
$ $ $ $ $<br />
State Government<br />
Parks and Reserve<br />
Trust Account grants<br />
11,798,744 11,106,698 10,647,000 10,219,000 9,689,000<br />
Other grants 676,537 116,051 177,600 155,299 422,940<br />
Commonwealth<br />
367,132 187,157 143,697 356,753 158,817<br />
Government<br />
Sponsorship 4,004,471 3,749,484 4,638,694 3,976,510 2,847,718<br />
General Revenue 6,239,663 6,333,463 5,629,437 5,102,561 4,007,596<br />
Total Expenses (19,552,693) (18,376,834) (17,553,313) (17,856,205) (16,324,161)<br />
Operating Surplus (3,533,854) 3,116,019 3,683,115 1,953,918 801,910<br />
Net cash flow from<br />
operating activities<br />
4,541,927 5,094,955 4,294,533 3,011,652 1,835,828<br />
Total assets 425,853,534 273,739,752 260,206,038 225,999,403 153,671,997<br />
Total liabilities 4,733,852 4,065,026 3,649,391 3,493,337 3,380,336<br />
<strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board Victoria <strong>Annual</strong> <strong>Report</strong> <strong>2010</strong>–11 page 25