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

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Accounts and Financial Statements 23. Explanatory Statement (continued) (ii) Significant variations between estimates and actual results for the financial year Details and reasons for significant variations between estimates and actual results are detailed below. Significant variations are considered to be those greater than 10% and $ 200,000. In the interests of concise reporting those variations between the actual and actual that have already been explained in the previous notes have not been repeated. 100 2003 2003 Variance Actual Estimates Over/(under) $000 $000 $000 Employee expenses 11,736 10,056 1,680 Administration expenses 1,786 1,400 386 Other expenses 430 30 400 User fees and charges 1,814 450 1,364 State grants and contributions 2,337 250 2,087 Donation & sponsorship 1,010 320 690 Other expenses This variance relates primarily to the refund of prior year expenditure and an increase in the provision for doubtful debts in the 2002/03 financial year. 24. Events occurring after Reporting Date The WA Museum has no subsequent events (other than those events whose financial effects have already been brought to account) to report. WESTERN AUSTRALIAN MUSEUM ANNUAL REPORT 2002–2003
Accounts and Financial Statements 25. Financial Instruments (a) Interest Rate Risk Exposure The following table details the WA Museum’s exposure to interest rate risk as at the reporting date: Fixed Interest Rate Maturity Weighted Variable Less 1 to 5 More Non- Total Average Interest than 1 Years than 5 Interest Effective Rate Year Years Bearing Interest Rate Total 2003 % $000 $000 $000 $000 $000 $000 4.87 Financial Assets Cash assets 1,555 1,555 Restricted cash assets 1,336 1,336 Receivables 264 264 Prepayments 18 18 Accrued income 44 44 101 2,891 326 3,217 Financial Liabilities Payables 174 174 Accrued expenses 77 77 Income received in advance 10 10 2002 4.74 261 261 Financial assets 4,453 769 5,222 Financial liabilities 99 99 (b) Credit Risk Exposure The WA Museum has limited credit risk exposure. The carrying amount of financial assets recorded in the financial statements, other than debt receivables, represents the authorities maximum exposure to credit risk. (c) Net Fair Values The carrying amount of financial assets and financial liabilities recorded in the financial statements are not materially different from their net fair values, determined in accordance with the accounting policies disclosed in note 1 to the financial statements. WESTERN AUSTRALIAN MUSEUM ANNUAL REPORT 2002–2003
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Western Australian Museum Annual Re
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contents 5 Public Access 6 Letter t
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7 Letter to the Minister The Hon Sh
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PART 1 Introduction 9 Premier Geoff
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11 The Museum’s Vision, Mission,
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13 Executive Director’s Review Th
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15 Executive Director’s Review th
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17 Museum Outreach Services The Per
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Corporate Costs 1.3% Organisational
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21 Trustees, Boards and Committees
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23 Western Australian Museum Founda
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25 Western Australian Museum Founda
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27 Friends of the Western Australia
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29 Friends of the Western Australia
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Science and Culture 31 Rachel O'She
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33 Western Australian Museum- Scien
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Page 43 and 44:
Western Australian Maritime Museum
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45 Western Australian Maritime Muse
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47 Western Australian Maritime Muse
Page 49 and 50: 49 Western Australian Maritime Muse
Page 51 and 52: 51 Western Australian Maritime Muse
Page 53 and 54: Regional Sites 53 Terry McClafferty
Page 55 and 56: 55 Western Australian Museum-Albany
Page 57 and 58: 57 Western Australian Museum-Gerald
Page 59 and 60: 59 Western Australian Museum-Gerald
Page 61 and 62: 61 Western Australian Museum- Kalgo
Page 63 and 64: Visitor Services 63 Young visitors
Page 65 and 66: 65 Visitor Services • Our Backyar
Page 67 and 68: 67 Visitor Services of the Museum
Page 69 and 70: 69 Visitor Services in WA was depic
Page 71 and 72: Museum Services 71 Conservator Ulli
Page 73 and 74: 73 Museum Services to finalise the
Page 75 and 76: Corporate and Commercial Developmen
Page 77 and 78: 77 Corporate and Commercial Develop
Page 83 and 84: PART 3 Compliance Requirements 83 W
Page 85 and 86: 85 Accounts and Financial Statement
Page 87 and 88: Accounts and Financial Statements S
Page 89 and 90: Accounts and Financial Statements N
Page 91 and 92: Accounts and Financial Statements 1
Page 99: Accounts and Financial Statements 2
Page 103 and 104: Outcomes, Outputs and Performance I
Page 105 and 106: 105 Outcomes, Outputs and Performan
Page 107 and 108: 107 Outcomes, Outputs and Performan
Page 109 and 110: Appendices 109 WESTERN AUSTRALIAN M
Page 111 and 112: appendix B Volunteers The Trustees
Page 113 and 114: appendix C Staff List Maritime Arch
Page 115 and 116: appendix C Administration Assistant
Page 117 and 118: appendix D P. Berry • Member, Cou
Page 119 and 120: appendix D • Member, committee fo
Page 121 and 122: appendix F RESEARCH PUBLICATIONS 12
Page 123 and 124: appendix F 123 Publications List Ma
Page 125 and 126: appendix F 125 Publications List Mo
Page 127: appendix F 127 Publications List Sl
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