The National Museum of Australia is a statutory authority within the portfolio of the Department of Regional Australia, Local Government, Arts and Sport. The Australian Government funds the Museum to achieve an agreed outcome through a series of performance indicators, as specified in the annual Portfolio Budget Statements (PBS). The Museum’s outcome is to ensure:
Increased awareness and understanding of Australia’s history and culture by managing the National Museum’s collections and providing access through public programs and exhibitions.
(National Museum of Australia, Portfolio Budget Statements, 2011–12)
The Museum’s financial statements disclose an operating deficit of $0.787 million compared with the 2010–11 operating deficit of $0.283 million. Total income for 2011–12 was $47.138 million (anticipated $46.134 million) while total expenses for 2011–12 were $47.925 million (anticipated $47.634 million).
Revenue from government was $40.280 million and revenue from other sources was $6.858 million (anticipated $5.854 million). This includes gains from donated assets for 2011–12 valued at $0.961 million. Revenue from non-government sources decreased by $1.335 million this year. This decrease was the result of reduced retail sales, reduced catering revenue due to building renovation works and reduced interest earnings.
Total expenses decreased by $0.500 million this year. This decrease was primarily in employee expenses ($1.670 million) offset by an increase in depreciation ($0.836 million) and disposal of assets ($0.245 million).
The balance sheet discloses an increase in the Museum’s net assets of $13.676 million. In 2011–12 there was an increase in the asset revaluation reserve following an independent valuation of land ($0.165 million), plant and equipment ($7.405 million) and heritage and cultural assets ($5.614 million), and a decrease for buildings and leasehold improvements ($0.645 million). The Museum received an equity injection in 2011–12 ($1.924 million) to fund National Historical Collection acquisitions.
Cash as at 30 June 2012 totalled $2.235 million (30 June 2011: $2.177 million), and investments totalled $40 million (30 June 2011: $40.923 million).
Financial summary 2011–12, measured against PBS
|Budgeted outcome: $47.634m||Actual outcome 2011–12: $47.925m|
|Budgeted departmental appropriations: $40.280m||Actual appropriations: $40.280m|
|Budgeted revenue from other sources: $5.854m||Actual revenue from other sources: $6.858m|
Financial summary 2010–11, measured against PBS
|Budgeted outcome: $48.094m||Actual outcome 2010–11: $48.425m|
|Budgeted departmental appropriations: $40.144m||Actual appropriations: $40.144m|
|Budgeted revenue from other sources: $7.000m||Actual revenue from other sources: $7.993m|
Quantitative and qualitative performance indicators were met or exceeded across the program that supports the Museum’s PBS outcome:
Program 1.1 Collection management, research, exhibitions and programs
- Collection management. The target of 100 per cent for the proportion of acquisitions acquired in accordance with the Collection Development Framework was achieved. The estimate for the percentage (80 per cent) of the National Historical Collection being packed or stored at, or above, appropriate museum standards was achieved.
- Research. The National Museum of Australia’s programs are informed by theory and practice across all of the professions, trades and disciplines relevant to the Museum’s themes. Research predicated on the highest standards of scholarship characterises all of the Museum’s outputs, ranging from advancing historical knowledge for external audiences through to development of internal governance systems. As a result, the Museum has developed a national and international reputation in museological practice.
- Exhibitions and programs. The target of 4,149,000 for the number of visitors to the Museum’s collections, exhibitions and programs (including web) was exceeded with a total of 5,297,000 (1,487,000 visitors and 3,810,000 web visitors). Visitor satisfaction with the Museum (95 per cent) exceeded the target (85 per cent).