AGNSW_AnnRep_00 full.pdf - Parliament of New South Wales ...
AGNSW_AnnRep_00 full.pdf - Parliament of New South Wales ...
AGNSW_AnnRep_00 full.pdf - Parliament of New South Wales ...
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Gallery performs only a custodial role in respect <strong>of</strong> these<br />
monies and because the monies cannot be used for general<br />
purposes in the achievement <strong>of</strong> the Gallery’s own<br />
objectives, they are brought to account as a separate item<br />
in the financial statements after calculation <strong>of</strong> the Net Cost<br />
<strong>of</strong> Services before Bequest and Special Funds. The<br />
aggregate <strong>of</strong> contributions received for the year has been<br />
recognised as revenue in the Bequest and Special Funds<br />
Revenue and Expenditure Statement in Note 22(a). These<br />
revenues provide for expenditure in the current year and in<br />
future years. Any revenues unspent in the current year have<br />
been carried forward for appropriate expenditure in future<br />
years.<br />
(n) Trustee benefits<br />
No Trustee <strong>of</strong> the Gallery has received or become entitled to<br />
receive a benefit because <strong>of</strong> a contract made by the Gallery<br />
or a related body with the Trustee or with a firm <strong>of</strong> which<br />
the Trustee is a member, or with a company in which the<br />
Trustee has a substantial interest.<br />
(o) Taxation status<br />
The activities <strong>of</strong> the Gallery are exempt <strong>of</strong> tax.<br />
(p) Services provided at no cost<br />
Where material contributions are made to the Gallery at no<br />
charge an expense is recorded in the accounts to reflect<br />
activities at the Gallery and is <strong>of</strong>fset by an equivalent<br />
revenue entry. Also Refer to Note 26.<br />
40<br />
(i) Volunteer Services<br />
Volunteers make a substantial and integral contribution to<br />
the operation <strong>of</strong> the Gallery. Volunteer guides provide<br />
guided tours <strong>of</strong> the Gallery’s permanent and temporary<br />
exhibitions to the public and primary aged children.<br />
Additional assistance is provided to the Gallery’s library<br />
and study room.<br />
(ii) Building Maintenance<br />
The Department <strong>of</strong> Public Works is undertaking a<br />
programme <strong>of</strong> restoring heritage buildings, including the<br />
Gallery. The cost <strong>of</strong> these works is being borne by the<br />
Department <strong>of</strong> Public Works and the Gallery will not incur<br />
any costs.<br />
2 PROGRAMME STATEMENT<br />
The Gallery operates one programme – Art Gallery <strong>of</strong> <strong>New</strong><br />
<strong>South</strong> <strong>Wales</strong>. The objective <strong>of</strong> this programme is to develop<br />
and maintain collections <strong>of</strong> art works for the benefit <strong>of</strong> the<br />
community and to increase knowledge and appreciation <strong>of</strong> art.<br />
In <strong>New</strong> <strong>South</strong> <strong>Wales</strong>, agencies are not required to<br />
separately record expenditures that are financed by the<br />
Consolidated Fund as distinct from expenditure financed by<br />
their own user charges. As a result, they are not able to<br />
determine accurately the exact amount <strong>of</strong> the expenditures<br />
that are related to the Consolidated Fund. However, the<br />
amount <strong>of</strong> revised appropriation should approximate the<br />
actual expenditure <strong>of</strong> Consolidated Fund monies by agencies.
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