Annual Report 2001-2002 - Western Australian Museum - The ...

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Accounts and Financial Statements STATEMENT OF CASHFLOWS FOR YEAR ENDED 30 JUNE 2002 Note 2002 2001 $000 $000 CASH FLOWS FROM GOVERNMENT Output appropriations 8,837 3,604 Capital contributions 800 1,610 Net Cash provided by Government 9,637 5,214 Utilised as follows: CASH FLOWS FROM OPERATING ACTIVITIES Payments Employee costs (791) (1,333) Supplies and services (3,716) (3,638) Administration (1,363) (1,613) Accommodation (781) (895) Grants and subsidies (16) 0 Capital user charge (3,204) 0 Other payments (2) 8 GST payments on purchases (935) (687) Receipts User charges and fees 510 344 Trading profit 472 389 Commonwealth grants and contributions 195 223 State grants 1,381 769 Other grants and contributions 432 323 Interest received 248 294 Donations/sponsorship 358 394 GST receipts on sales 286 236 GST receipts from taxation authority 614 364 Other receipts 277 98 Net cash provided by / (used in) operating activities 18 (6,035) (4,724) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of non-current physical assets (2,937) (1,095) Net cash provided by / (used in) investing activities (2,937) (1,095) Net increase / (decrease) in cash held 665 (605) Cash assets at the beginning of the financial year 3,788 4,393 CASH ASSETS AT THE END OF THE FINANCIAL YEAR 18 4,453 3,788 The Statement of Cash Flows should be read in conjunction with the accompanying notes 78 WESTERN AUSTRALIAN MUSEUM ANNUAL REPORT 2001–2002
Accounts and Financial Statements NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2002 1. Significant accounting policies The following accounting policies have been adopted in the preparation of the financial statements. Unless otherwise stated these policies are consistent with those adopted in the previous year. General Statement The financial statements constitute a general purpose financial report which has been prepared in accordance with Australian Accounting Standards, Statement of Accounting Concepts and other authoritative pronouncements of the Australian Accounting Board, and Urgent Issues Group (UIG) Consensus Views as applied by the Treasurer’s Instructions. Several of these are modified by the Treasurer’s Instructions to vary application, disclosure, format and wording. The Financial Administration and Audit Act and the Treasurer’s Instructions are legislative provisions governing the preparation of financial statements and take precedence over Australian Accounting Standards, Statement of Accounting Concepts and other authoritative pronouncements of the Australian Accounting Standards Board and UIG Consensus Views. The modifications are intended to fulfil the requirements of general application to the public sector together with the need for greater disclosure and also to satisfy accountability requirements. If any such modification has a material or significant financial effect upon the reported results, details of that modification and where practicable, the resulting financial effect, are disclosed in individual notes to these financial statements. The statements have been prepared on the accrual basis of accounting using the historical cost convention, except for certain assets and liabilities, which as noted, are measured at valuation. (a) Output Appropriations Output Appropriations are recognised as revenues in the period in which the WA Museum gains control of the appropriated funds. The WA Museum gains control at the time those funds are deposited into the Museum’s operating account or credited to the holding account held at the Department of Treasury and Finance. (b) Contributed Equity Under UIG 38 “Contributions Made to Wholly – Owned Public Sector Entities “transfers in the nature of equity contributions must be designated by the Government (owners) as contributions by owners (at the time of, or prior to transfer) before such transfers can be recognised as equity contributions in the financial statements. Capital contributions (appropriations) have been credited directly to Contributed Equity in the Statement of Financial Position. All other transfers have been recognised in the Statement of Financial Performance. Prior to the current reporting period, capital appropriations were recognised as revenue in the Statement of Financial Performance. Capital appropriations, which are repayable to the Treasurer, are recognised as liabilities. (c) Grants and Other Contributions Revenue Grants, donations, gifts and other non-reciprocal contributions are recognised as revenue when the WA Museum obtains control over the assets comprising the contributions. Control is normally obtained upon their receipt. Contributions are recognised at their fair value. Contributions of services are only recognised when a fair value can be reliably determined and the services would be purchased if not donated. (d) Revenue Recognition Revenue from the sale of goods and disposal of other assets and the rendering of services, is recognised when the WA Museum has passed control of the goods or other assets or delivery of the service to the customer. (e) Non-Current Assets The cost method of accounting is used for all acquisitions of assets. Cost is measured as the fair value of the assets given up or liabilities undertaken at the date of acquisition plus incidental costs directly attributable to the acquisition. Property, plant and equipment, computer equipment and software, furniture and fittings, have been included as noncurrent assets if the purchase cost is $1000 or more. 79 WESTERN AUSTRALIAN MUSEUM ANNUAL REPORT 2001–2002
Page 1 and 2:
New Museum building - Geraldton Wes
Page 3 and 4:
contents 3 Letter to the Minister 5
Page 5 and 6:
DR KEN MICHAEL AM CitWA 5 Letter to
Page 7 and 8:
7 A Message from the Minister I am
Page 9 and 10:
9 Introducing the Western Australia
Page 11 and 12:
11 The Museum’s Vision, Mission,
Page 13 and 14:
13 Executive Director’s Review OV
Page 15 and 16:
Visitors to Western Australian Muse
Page 17 and 18:
17 Trustees, Boards and Committees
Page 19 and 20:
19 Trustees, Boards and Committees
Page 21 and 22:
21 Western Australian Museum Founda
Page 23 and 24:
23 Western Australian Museum Founda
Page 25 and 26:
25 Friends of the Western Australia
Page 27 and 28: PART 2 The Year Under Review 27 WES
Page 29 and 30: 29 Western Australian Museum- Scien
Page 39 and 40: Western Australian Maritime Museum
Page 41 and 42: 41 Western Australian Maritime Muse
Page 43 and 44: 43 Western Australian Maritime Muse
Page 45 and 46: Regional Sites 45 Three titles publ
Page 47 and 48: 47 Western Australian Museum-Albany
Page 49 and 50: 49 Western Australian Museum-Gerald
Page 51 and 52: 51 Western Australian Museum-Gerald
Page 53 and 54: 53 Western Australian Museum- Kalgo
Page 55 and 56: Visitor Services 55 Senior Preparat
Page 57 and 58: 57 Visitor Services heritage, learn
Page 59 and 60: 59 Visitor Services Overseen by Exe
Page 61 and 62: 61 Visitor Services over 10 years.
Page 63 and 64: Museum Services 63 Principal Conser
Page 65 and 66: 65 Museum Services The Museum Assis
Page 67 and 68: 67 Corporate and Commercial Develop
Page 73 and 74: PART 3 Compliance Requirements 73 W
Page 75 and 76: 75 Accounts and Financial Statement
Page 77: Accounts and Financial Statements S
Page 81 and 82: Accounts and Financial Statements T
Page 83 and 84: Accounts and Financial Statements 2
Page 87 and 88: Accounts and Financial Statements (
Page 89 and 90: Accounts and Financial Statements (
Page 93 and 94: 93 Outcomes, Outputs and Performanc
Page 95 and 96: 95 Outcomes, Outputs and Performanc
Page 97 and 98: Appendices 97 WESTERN AUSTRALIAN MU
Page 99 and 100: appendix A 99 Sponsors, Benefactors
Page 101 and 102: appendix B 101 Volunteers Tarrant,
Page 103 and 104: appendix C Staff List Fremantle His
Page 105 and 106: appendix C Media and Public Relatio
Page 107 and 108: appendix D • Executive Committee
Page 109 and 110: appendix E FELLOWS Mr John Banniste
Page 111 and 112: appendix F Harvey, M. S. (2002). No
Page 113 and 114: appendix F F. W., Spalding, M., Wel
Page 115 and 116: appendix F Systematic Biologists an
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