Royal Botanic Gardens Victoria Annual Report 2018-19

ROYAL BOTANIC GARDENS BOARD VICTORIA FINANCIAL STATEMENTS
Financial Statements
How this report is structured
The Royal Botanic Gardens Board Victoria (the Board) has presented its audited general purpose financial statements for the
financial year ended 30 June 2019 in the following structure to provide users with information about the Board's stewardship of the
resources entrusted to it.
Financial
statements
Notes to the
financial
statements
Comprehensive operating statement 80
Balance sheet 81
Cash flow statement 82
Statement of changes in equity 83
1. About this report 84
The basis on which the financial statements have been prepared and compliance with reporting regulations
2. Funding delivery of our services 85
Revenue recognised from grants, sales of goods and services, sponsorships and donations, and other sources
2.1 Summary of income that funds the delivery of our services
85
2.2 Income from transactions
85
3. The cost of delivering services 88
Operating expenses of the Board
3.1 Expenses incurred in delivery of services
88
3.2 Other operating expenses
90
4. Key assets available to support services delivery 92
Land, property and other financial assets
4.1 Total property, plant and equipment
92
5. Other assets and liabilities 94
Working capital balances, and other key assets and liabilities
5.1 Receivables
94
5.2 Payables
94
5.3 Inventories
95
5.4 Prepayments
95
6. How we finance our operations 96
Borrowings, cash flow information, leases and commitments for expenditure
6.1 Borrowings 96
6.2 Leases
97
6.3 Cash flow information and balances
97
6.4 Commitments for expenditure
98
7. Risks, contingencies and valuation judgements 99
Financial risk management as well as fair value determination
7.1 Financial instruments specific disclosures 99
7.2 Fair value determination
104
7.3 Contingent liabilities
107
8. Other disclosures 108
8.1 Other economic flows included in net result
108
8.2 Non-financial assets held-for-sale
108
8.3 Reserves
109
8.4 Responsible persons
109
8.5 Remuneration of executives
110
8.6 Related parties 110
8.7 Remuneration of auditors 111
8.8 Other accounting policies 111
8.9 Change in accounting policies 111
8.10 Australian Accounting Standards issued that are not yet effective 112
8.11 Glossary of technical terms 114
8.12 Style conventions 116
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