2007-08 Report

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APPENDIXES QUEENSLAND ART GALLERY ANNUAL REPORT 2007–08 89
5. Supplies and Services Economic Economic Parent Parent
Entity Entity Entity Entity
2008 2007 2008 2007
$'000 $'000 $'000 $'000
Advertising, promotion and
public relations 2504 815 2499 814
Consultants and service providers 760 806 760 806
Exhibition related expenses 3114 3561 3114 3561
Other supplies and services 2415 1506 2169 1374
Postage, freight and storage 1699 996 1699 996
Property, equipment and
maintenance costs 2721 3135 2721 3135
Stationery, printing books and
publications 771 979 771 978
Telecommunications and access fees 168 100 168 100
Travel expenses 409 468 409 468
Total 14 561 12 366 14 310 12 232
6. Gallery Store Expenses
Operating expenses 1655 951 1655 951
Total 1655 951 1655 951
Gallery Store employee expenses for the year 2007–08 totalling $543 101
(2006–07: $454 497) are not contained within this amount. They are
included under Note 4.
8. Other Expenses
External audit fees 36 2 36 2
Losses from disposal of property,
plant and equipment - 43 - 43
Net unrealised loss and realised
gain on investments at fair value
through profit and loss 2054 - - -
Transfer of furniture and fittings
from Arts Queensland - 4651 - 4651
Other 96 145 40 78
Total 2186 4841 76 4774
Total external audit fees relating to the 2007–08 financial year are
estimated to be $38 100 (2006–07: $30 800). There are no non-audit
services included in this amount.
7. Borrowing Costs
Interest - 1 - 1
Total - 1 - 1
The Gallery does not capitalise borrowing costs.
12. Inventories
Gallery Store stock - at cost 625 506 625 506
Publications - at cost 499 486 499 486
Total 1124 992 1124 992
13. Non-Current Assets Classified as Held for Sale
Deaccessioned Art works - to be sold
by public auction during 2008–09 53 53 53 53
Total 53 53 53 53
11. Other Financial Assets
Current
Deposit Notes 457 23 - -
Fixed interest bearing
bonds/deposits 1500 2000 1500 2000
Total 1957 2023 1500 2000
Non-Current
Investments in managed funds/
shares at fair value through
profit and loss 11 650 15 291 - -
Total 11650 15 291 - -
9. Cash and Cash Equivalents Economic Economic Parent Parent
Entity Entity Entity Entity
2008 2007 2008 2007
$'000 $'000 $'000 $'000
Imprest accounts 35 3 35 3
Cash at bank and on hand 3045 871 1084 816
Deposits at call 5962 2987 3095 2514
Total * 9042 3861 4214 3333
* Included in the above balance is $183 527 (2006–07: $183 527) of
donor funds with restrictions on their use. Deposits at call earned
interest at rates between 0% and 7.05% (2006–07: 0% to 6.67%).
10. Receivables
Trade debtors 368 291 368 291
GST receivable 268 87 243 79
GST payable (148) (23) (74) (18)
120 64 169 61
Investment Income 258 409 - -
Interest 16 9 16 9
Other 277 76 277 76
Total 1039 849 830 437