NOTES TO THE FINANCIAL STATEMENTS CONTINUED 30 JUNE 2011 Note 2. Income from transactions Income (a) Grant income State government grants 2011 2010 $ $ Core program 29,098,825 27,722,600 Special projects 103,243,280 46,106,000 Total grant income 132,342,105 73,828,600 (b) Other income Cooperative ventures Marketing strategy 359,232 547,080 Product and destination marketing 3,313,425 3,335,794 International marketing 323,558 1,607,042 Other 512,021 569,422 Interest income 4,508,236 6,059,338 Interest on bank deposits 328,141 208,856 Interest from Investments 777,736 695,215 1,105,877 904,071 Total other income 5,614,113 6,963,409 36 TOURISM VICTORIA ANNUAL REPORT 2010–11
Note 3. Expenses from transactions 2011 2010 $ $ Expenses from transactions (a) Grants and other payments Events 76,223,311 16,232,750 Regional tourism cooperative marketing 3,147,160 8,791,840 <strong>Victoria</strong> Trade and Investment Company Pty Ltd 1,378,496 1,596,990 Industry development 477,550 542,125 Other 1,371,904 3,240,077 Total grants and other payments 82,598,421 30,403,782 (b) Employee expenses Salary and wages 8,313,041 7,770,855 Superannuation 825,337 738,538 <strong>Annual</strong> leave 708,620 749,963 Long service leave 155,609 320,435 Other on-costs (fringe benefits tax, payroll tax and workcover levy) 749,562 723,587 Total employee expenses 10,752,169 10,303,378 (c) Depreciation expense Leasehold improvements 15,441 16,691 Plant and equipment 14,237 16,861 Leased motor vehicles 33,673 38,446 Total depreciation expense 63,351 71,998 (d) Supplies and services Advertising 8,683,480 14,588,802 Printed material 169,190 236,105 Consultants, outsourcing and professional services and agency staff 5,988,623 4,892,049 Distribution 196,009 268,568 Exhibition costs/Venue hire 619,165 1,041,409 Familiarisation expenses 1,364,476 1,185,570 Hospitality and entertainment 722,419 603,074 Marketing, promotional and PR costs 12,713,822 9,273,828 Media 73,731 22,222 Online services 1,970,760 574,557 Overseas contractors 762,208 1,094,186 Photographic/Video 544,066 935,053 Research 1,540,650 1,425,223 Other 28,312 82,565 Total supplies and services 35,376,911 36,223,211 (e) Administration charges Rent, cleaning and power 1,081,787 1,117,220 Telephone, facsimile and postage 345,210 348,513 Audit fees 30,500 28,565 Computer charges 1,282,080 1,176,860 Printing, stationery and offices requisites 215,055 261,678 Motor vehicle running costs 134,788 145,839 Travel charges 910,308 937,500 Training and development 583,307 488,646 Other 296,873 224,062 Total administration charges 4,879,906 4,728,883 37