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FINANCIAL STATEMENTS
Queensland Art Gallery Board of Trustees Annual Report 2013–14
PART B
3
3
Queensland Ar t Gallery Board of Trustees
Statements of comprehensive income
for the year ended 30 June 2014
2014
2013
2014
2013
Notes
$000
$000
$000
$000
Income from Continuing Operations
Grants and other contributions
2
41,207
39,263
41,207
40,292
User charges and fees
3
10,621
9,556
10,621
9,548
Interest
472
642
472
392
Other revenue
4
486
1,302
486
81
Total Revenue
52,786
50,763
52,786
50,313
Gain on disposal / remeasurement of assets
5
1,764
858
1,764
48
Total Income from Continuing
Operations
54,550
51,621
54,550
50,361
Expenses from Continuing Operations
Employee expenses
6,7
25,352
26,491
25,352
26,491
Supplies and services
8
15,998
19,583
15,998
19,549
Grants and subsidies
9
10
11
10
511
Depreciation
10
690
805
690
805
Other expenses
11
576
240
576
1,470
Total Expenses from Continuing
Operations
42,626
47,130
42,626
48,826
Operating Result from Continuing
Operations
11,924
4,491
11,924
1,535
Other Comprehensive Income
Items that will not be reclassified subsequently
to operating result:
Increase in asset revaluation surplus
2,295
5,601
2,295
5,601
Total Other Comprehensive Income
2,295
5,601
2,295
5,601
Total Comprehensive Income
14,219
10,092
14,219
7,136
The accompanying notes form part of these statements.