OTAGO MUSEUM

OTAGO MUSEUM TRUST BOARD
NOTES TO THE FINANCIAL STATEMENTS (Cont.)
For the Financial Year Ended 30 June, 2015
2. REVENUE
For financial reporting purposes, revenue received from Local Authorities in regards to payments under the Otago Museum
Trust Board Act 1996 is considered non-exchange revenue. These amounts to $4,102,101 in 2015 (2014: $4,021,668).
Legacies and Bequests, Interest & Dividends, as well as Grants – Government and Other are also considered non-exchange
revenue.
Included within Public revenue are the following non-exchange transactions:
2015 2014
$ $
Donations 175,873 124,643
Sponsorships 5,574 -
Other - 2,391
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$181,447 $127,034
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3. EXPENDITURE
(a)
Employee Benefits Expense
2015 2014
$ $
Salaries and Wages 3,662,159 3,389,541
Defined Contribution Plans 79,695 170,617
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$3,741,854 $3,560,158
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From 30 June 2015, the recognition of defined contribution plans has been adjusted to only represent the employer
contribution to these schemes. Prior to this, both the employee and employer contributions were recognised.
(b)
Other Expenses
Computer Costs 64,066 59,382
Maintenance 178,423 124,009
Other Expenses 2,558,020 2,625,388
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$2,800,509 $2,808,779
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4. REMUNERATION
The following table shows the number of employees that are paid more than $100,000 gross per year.
2015 2014
Remuneration Band Number of Employees Number of Employees
$270,000 - $279,999 1
$260,000 - $269,999 1 1
$140,000 - $149,999 1 1
$110,000 - $119,999 2 -
$100,000 - $109,999 1 -
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