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

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Zoological Parks Authority ANNUAL REPORT 2012 Agency Performance – Report on Operations Outcomes, Services and Performance Information Actual Results versus Budget Targets The following information details results against the targets contained in the Authority’s annual Resource Agreement with the Minister and the Treasurer. The Resource Agreement contains financial and non-financial performance targets. Explanations of material variations between actual results and targets are also provided. Financial Targets Total cost of services (expense limit) (details from Income Statement) Net cost of services (details from Income Statement) Total equity (details from Statement of Financial Position) Net increase/(decrease) in cash held (details from Statement of Cash Flows) Target $000’s Actual $000’s Variation $000’s 21,832 21,942 110 9,053 8,494 (559) 50,814 48,679 (2,135) 34 476 442 Approved full time equivalent (FTE) staff level 166 166 – Explanation of significant variations against financial targets Total cost of services Costs were in line with original targets and were well managed during 2011‐12. Net cost of services The decrease in the net cost of services was due to higher than expected revenue during 2011‐12. This included a 9.5% increase in revenue from admissions due to the record attendance levels of 640,642 and a 10.1% increase in retail shop sales. Revenue for the year also included insurance claims proceeds of over $277,000 relating to the March 2010 hail storm and the reversal of a previously recorded asset impairment loss of $200,000 for the Australian wetlands exhibit. 30
Zoological Parks Authority ANNUAL REPORT 2012 Agency Performance – Report on Operations Outcomes, Services and Performance Information Actual Results versus Budget Targets continued Total Equity The lower than targeted equity figure was due to building asset revaluations being significantly lower than originally expected. Net increase/(decrease) in cash held Cash increases in excess of the target were due to the higher than expected revenue during 2011‐12. The record attendance levels and increases in some areas of commercial revenue contributed to the overall increase in revenue. 31
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Zoological Parks Authority - Parliament of Western Australia - The ...

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