Financial outcome for 2007–08
The Museum's financial statements disclose an operating surplus of $0.171 million compared with the 2006–07 operating surplus of $3.652 million.
The Museum's appropriation for 2007–08 was $40.764 million. The Museum also received a capital appropriation of $5.159 million in 2007–08, which related to the implementation of the Review of Exhibitions and Public Programs 2003.
The revenue from non-government sources decreased by $3.319 million this year. The decrease was the effect of the Museum receiving a donated collection asset valued at $4.379 million in 2006–07. Donated assets for 2007–08 were valued at $475,000.
Total expenses increased by $0.898 million. This was due to a number of factors including an increase in the number of staff employed for special projects.
The balance sheet discloses an increase in the Museum's net assets to $24.471 million. In 2007–08 there was an increase in the asset revaluation reserve following an independent valuation of the buildings ($5.755 million) and heritage cultural assets ($13.386 million).
Cash as at 30 June 2008 totalled $1.278 million (30 June 2007: $2.194 million) and investments totalled $46.525 million (30 June 2007: $41.130 million).
Statement of cash flows
Net cash received from operating activities increased by $1.478 million in 2007–08.
During the year the Museum received an equity injection of $5.159 million to implement the recommendations of the Review of Exhibitions and Public Programs 2003.