AGNSW_AnnRep_00 full.pdf - Parliament of New South Wales ...

ART GALLERY OF NEW SOUTH WALES TRUST
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
ACTUAL ACTUAL
2000 1999
$’000 $’000
22 BEQUESTS AND SPECIAL PURPOSE FUNDS
(a) Revenue and Expenditure Statement
Revenue
Donations for purchase of works of art 1,368 1,648
Donations of works of art 2,914 2,097
Capital bequests 203 1,168
Expendable bequests 531 484
5,016 5,397
Interest received 545 441
Other income 49 162
Total Income 5,610 6,000
Expenditure
Prizes and Scholarships 44 25
Other 388 131
Funds reimbursement - (51)
432 105
Surplus for year 5,178 5,895
(b) Changes in equity
(i) Special Reserves – Capital
Transfer from Operating Statement – additions for year 203 1,168
Balance at beginning of year 5,867 4,699
Special reserves – capital at end of year 6,070 5,867
This reserve represents the preserved portion of bequests and special purpose funds received by the Gallery.
(ii) Special Reserves – Expendable
Transfers from Operating Statement –
Surplus for year 5,178 5,895
Transfer from Accumulated Funds 400 -
Transfer to special reserve capital (203) (1,168)
Less acquisitions and other capital expenditure (5,090) (3,964)
285 763
Balance at beginning of year 3,724 2,961
Special reserves – expendable at end of year 4,009 3,724
This reserve represents the expendable portion of bequests and special purpose funds received by the Gallery.
(iii) Total – Special Reserves
Transfers from operating statement 488 1,931
Balance at beginning of year 9,591 7,660
Total special reserves at end of year 10,079 9,591
These reserves are represented by investments as shown in note 17 to the accounts.
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