Zoological Parks Authority - Parliament of Western Australia - The ...

Zoological Parks Authority ANNUAL REPORT 2012
Disclosures and Legal Compliance
Financial Statements
Zoological Parks Authority
Notes to the Financial Statements for the Year Ended 30 June 2012 continued
2012 2012
Actual Estimate Variation
$ $ $
33. Explanatory statement continued
Expenses
(i) Other employee related expenses 481,465 746,000 (264,535)
Due to lower than expected workers’ compensation insurance premium during the period.
While the premium increased by 22% over the previous year, the premium was forecast to
rise by a greater amount.
Revenue
(ii) Grants, sponsorships & fundraising 1,848,260 1,346,000 502,260
Due to the receipt of grant funding for native species breeding that was not expected at the
time of developing the budget. The level of sponsorship and fundraising was also higher
than the original budget along with donated assets linked to the solar capital works project.
(iii) Commercial activities 1,423,113 1,627,000 (203,887)
Lower than expected number of concert events over the summer season resulted in reduced
venue hire and catering dividends. Revenue from car parking was affected by capital works
developments during the period that restricted visitor access to the car park.
Capital developments also affected the delivery of some commercial activities such as behind
the scenes tours.
(iv) Other revenue 380,035 – 380,035
Due mainly to insurance revenue received in settlement of claims associated with damage
sustained during Perth’s March 2010 hail storm. There were also refunds of expenditure
from previous years.
Gains
(v) Other gains 200,000 – 200,000
The Australian Wetlands exhibit sustained significant structural damage during Perth’s March 2010 hail storm.
In 2009-10 an impairment loss of $200,000 was recognised for this asset. During 2011-12, the damage
was repaired and the exhibit upgraded. The previously recognised impairment loss has now been reversed.
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