Cultural facilities corporation
Objectives 
The vision of the Cultural Facilities Corporation (the Corporation) is to be a cultural leader in the ACT community and region.  The Corporation’s primary objective is to enrich the cultural life of people living in, and visiting, the ACT and region by managing its facilities and delivering its programs in a creative, professional, and business-like manner.
The Corporation aims to provide cultural leadership, excellence and innovation and to promote community involvement in activities at the Corporation’s facilities.
2007-08 Priorities 
Strategic and operational issues to be pursued in 2007‑08 include:
•	maximising visitation to, and patronage of, the Corporation’s facilities through a wide range of visual arts, social history and performing arts programs including targeted audience development and community outreach, in order to achieve a target of 344,000 visitors and patrons;
•	presenting exhibitions, education and public programs at the museums and galleries managed by the Corporation, with involvement in significant events and festivals and participation in a range of partnerships with other cultural organisations;
•	presenting a varied program of performing arts productions at the Canberra Theatre Centre;
•	celebrating, with special activities and events, a number of significant anniversaries for the organisation and the facilities it manages, including the Corporation’s 10th  anniversary and the 80th birthday of Calthorpes' House in 2007, and the 10th anniversaries of The Playhouse and the Canberra Museum and Gallery in 2008; 
•	continuing to undertake repairs and maintenance works, which include repairs and collection management works at the three Historic Places managed by the Corporation (Lanyon, Calthorpes’ House and Mugga Mugga), works to address occupational health and safety issues, a package of conservation works at the Historic Places, and priority maintenance needs at the Canberra Theatre Centre in order to ensure its ongoing functionality, including repairs to the Canberra Theatre’s orchestra pit; and
•	acquiring a major collection of Canberra souvenirs, memorabilia and social history items which will be used by the Canberra Museum and Gallery in a range of exhibitions, education programs and other activities relating to Canberra’s history, especially in the years leading up to the Centenary of Canberra in 2013.

Estimated Employment Level
	2006‑07
Est.  Outcome	2007‑08
Budget	
Staffing (FTE)	70	68	

Output Classes
	Total Cost1
	Government Payment for Outputs	
	2006-07
Est. Outcome
($’000)	Budget
2007-08
($’000)	2006-07
Est. Outcome
($’000)	Budget
2007-08
($’000)	
Output Class 1:
Cultural Facilities Management	12,074	12,788	6,434	6,869	
Output 1.1:
Cultural Facilities Corporation	12,074	12,788	6,434	6,869	
Notes:
1	Total cost includes depreciation of $1.554 million in 2006-07 and $1.694 million in 2007-08.
Output Description
The Cultural Facilities Corporation manages a number of the ACT’s major cultural assets, comprising:
•	the Canberra Theatre Centre;
•	the Canberra Museum and Gallery and the Nolan Gallery; and
•	the Historic Places (Lanyon, Calthorpes' House and Mugga Mugga).
In managing these facilities, the Corporation provides a range of cultural services to the community through the provision of activities (performing arts presentations, exhibitions, education programs, public programs and other events) at each site, and through the conservation and interpretation of the Historic Places.

Strategic Indicators 
Strategic Indicator 1 
Provision of cultural leadership, excellence and innovation
The Corporation seeks to be recognised as promoting cultural leadership in the ACT, including through the development of strategic partnerships.
The Corporation also seeks to ensure that the activities and programs at its facilities are recognised for their excellence, innovation, and diversity.

Strategic Indicator 2
Promotion of community involvement in activities at Corporation facilities
The Corporation seeks to develop increased awareness of its facilities and activities amongst the ACT community and visitors to Canberra, and to ensure a strong community orientation, with proud and willing community support.
The Corporation also seeks to maintain and, where possible, to increase visitation to its facilities and participation in its programs, whilst recognising and balancing this with its cultural responsibilities, especially with regard to conservation.
In addition, the Corporation seeks to contribute to Canberra’s economic development and attractiveness as both a business and tourist destination.

Accountability Indicators 
	2006-07
Targets	2006-07
Est. Outcome	2007-08
Targets	
Output Class 1: Cultural Facilities Management	
Output 1.1: Cultural Facilities Corporation	
				
a.	Number of visitors/patrons to facilities	323,500	344,000	344,000	
b.	Number of exhibitions at facilities managed by the Corporation1	32	28	25	
c.	Number of education and public programs at facilities managed by the Corporation2 	485	500	400	
d.	Number of days venue usage at the Canberra Theatre Centre’s venues	430	450	450	
e.	Customer satisfaction with quality of services provided by the Corporation, as measured by annual survey	80%	>80%	80%	
f.	Cost to Government per visitor/patron to facilities managed by the Corporation3 	$19.81	$18.70	$19.96	
g.	Own sourced revenue as a proportion of total revenue for the Corporation	36%	39%	39%	
				
Notes
1.	The reduction in the 2007‑08 target from the 2006‑07 target relates primarily to a decision to consolidate the Canberra Museum and Gallery’s exhibition program and focus on fewer, longer-running exhibitions.
2.	The reduction in the 2007‑08 target from the 2006‑07 target and the 2006‑07 estimated outcome reflects a decision to consolidate the number of programs offered and to concentrate on providing fewer programs but with more participants in each.
3.	The increase in the 2007‑08 target from the 2006‑07 estimated outcome reflects an increase in the government payment for outputs in 2007‑08, mainly due to a one-off injection of funding for repair and maintenance requirements.

Changes To Appropriation
Changes to Appropriation - Departmental						
 	2006-07	2007-08	2008-09	2009-10	2010-11	
Government Payment for Outputs	Est. Out.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2006-07 Budget	6,410	6,499	6,638	6,771	6,771	
						
2007-08 Budget Policy Adjustments 						
Wage Outcome	24	78	135	167	168	
Additional Repairs and Maintenance Funding	 - 	261	 - 	 - 	-	
						
2007-08 Budget Technical Adjustments						
Revised Indexation Parameters	 - 	 - 	 - 	-	136	
Shared Services Centre SLA Adjustment	 - 	31	40	47	47	
						
2007-08 Budget	6,434	6,869	6,813	6,985	7,122	

Changes to Appropriation - Departmental						
 	2006-07	2007-08	2008-09	2009-10	2010-11	
Capital Injections	Est. Out.	Budget	Estimate	Estimate	Estimate	
						
 	$'000	$'000	$'000	$'000	$'000	
						
2006-07 Budget	3,261	300	300	300	300	
						
2007-08 Budget Policy Adjustments 						
Collection Acquisition Funding	 - 	100	 - 	 - 	 - 	
						
2007-08 Budget Technical Adjustments						
Capital Upgrades Indexation	 - 	8	16	24	32	
						
2007-08 Budget	3,261	408	316	324	332	

2007-08 Capital Works Program 
Departmental 
							
 	Estimated	Estimated	2007-08	2008-09	2009-10	Expected 	
	Total	Expenditure	Financing	Financing	Financing	Completion 	
	Cost	Pre 2007-08				Date  	
 	$’000	$’000	$’000	$’000	$’000	 	
							
Capital Upgrades							
Capital Upgrade Funding 	  308	-	308					
							
Total Capital Upgrades	  308	-	  308			 	

Total Departmental Capital Works	308	-	308	 	 	 	

Cultural Facilities Corporation	
Operating Statement	
  2006-07			  2006-07	   2007-08		  2008-09	  2009-10	  2010-11		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
6,410		Government Payment for Outputs	6,434	6,869	7	6,813	6,985	7,122		
3,720		User Charges - Non ACT Government	3,777	3,837	2	3,873	3,971	3,972		
248		User Charges - ACT Government	248	457	84	457	457	457		
120		Interest	120	105	-13	100	100	100		
39		Resources Received free of charge	39	39	-	39	39	39		
10,537		Total Revenue	10,618	11,307	6	11,282	11,552	11,690		
		Gains								
0		Total Gains	0	0	-	0	0	0		
10,537		Total Income	10,618	11,307	6	11,282	11,552	11,690		
		Expenses								
4,823		Employee Expenses	5,010	4,837	-3	4,972	5,057	5,092		
702		Superannuation Expenses	732	698	-5	714	726	726		
4,853		Supplies and Services	4,717	5,498	17	5,322	5,495	5,598		
1,554		Depreciation and Amortisation	1,554	1,694	9	1,694	1,694	1,694		
61		Other Expenses	61	61	-	61	61	61		
11,993		Total Ordinary Expenses	12,074	12,788	6	12,763	13,033	13,171		
-1,456		Operating Result	-1,456	-1,481	-2	-1,481	-1,481	-1,481		

Cultural Facilities Corporation	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/07			as at 30/6/07	as at 30/6/08	   Var	as at 30/6/09	as at 30/6/10	as at 30/6/11		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
784		Cash and Cash Equivalents	1,131	1,270	12	1,403	1,509	1,615		
520		Receivables	1,241	1,242	..	1,243	1,244	1,245		
111		Inventories	28	28	-	28	28	28		
21		Other	273	273	-	273	273	273		
1,436		Total Current Assets	2,673	2,813	5	2,947	3,054	3,161		
		Non Current Assets								
35,082		Property, Plant and Equipment	34,274	33,138	-3	31,910	30,690	29,478		
35,082		Total Non Current Assets	34,274	33,138	-3	31,910	30,690	29,478		
36,518		TOTAL ASSETS	36,947	35,951	-3	34,857	33,744	32,639		
		Current Liabilities								
278		Payables	444	444	-	444	444	444		
420		Employee Benefits	1,103	1,180	7	1,249	1,292	1,335		
55		Other	161	161	-	161	161	161		
753		Total Current Liabilities	1,708	1,785	5	1,854	1,897	1,940		
		Non Current Liabilities								
519		Employee Benefits	5	5	-	6	6	6		
0		Other	521	521	-	522	523	524		
519		Total Non Current Liabilities	526	526	-	528	529	530		
1,272		TOTAL LIABILITIES	2,234	2,311	3	2,382	2,426	2,470		
35,246		NET ASSETS	34,713	33,640	-3	32,475	31,318	30,169		
		REPRESENTED BY FUNDS EMPLOYED								
30,469		Accumulated Funds	29,936	28,863	-4	27,698	26,541	25,392		
4,777		Reserves	4,777	4,777	-	4,777	4,777	4,777		
35,246		TOTAL FUNDS EMPLOYED	34,713	33,640	-3	32,475	31,318	30,169		

Cultural Facilities Corporation	
Cash Flow Statement	
  2006-07			  2006-07	   2007-08		  2008-09	  2009-10	  2010-11		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
6,410		Cash from Government for Outputs	6,434	6,869	7	6,813	6,985	7,122		
3,980		User Charges	4,037	4,306	7	4,342	4,440	4,441		
120		Interest Received	120	105	-13	100	100	100		
492		Other Revenue	492	508	3	509	511	511		
11,002		Operating Receipts	11,083	11,788	6	11,764	12,036	12,174		
		Payments								
5,504		Related to Employees	5,665	5,458	-4	5,616	5,740	5,775		
4,823		Related to Supplies and Services	4,702	5,468	16	5,291	5,464	5,567		
557		Other	557	573	3	574	576	576		
10,884		Operating Payments	10,924	11,499	5	11,481	11,780	11,918		
118		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	159	289	82	283	256	256		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
3,411		Purchase of Property, Plant and Equipment	5,333	558	-90	466	474	482		
3,411		Investing Payments	5,333	558	-90	466	474	482		
-3,411		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	-5,333	-558	90	-466	-474	-482		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Receipts								
3,261		Capital Injection from Government	3,261	408	-87	316	324	332		
3,261		Financing Receipts	3,261	408	-87	316	324	332		
3,261		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	3,261	408	-87	316	324	332		
-32		NET INCREASE/(DECREASE) IN CASH HELD	-1,913	139	107	133	106	106		
816		CASH AT BEGINNING OF REPORTING PERIOD	3,044	1,131	-63	1,270	1,403	1,509		
784		CASH AT THE END OF THE REPORTING PERIOD	1,131	1,270	12	1,403	1,509	1,615		

Cultural Facilities Corporation	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/07			as at 30/6/07	as at 30/6/08	   Var	as at 30/6/09	as at 30/6/10	as at 30/6/11		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
33,383		Opening Balance	32,850	34,713	6	33,640	32,475	31,318		
		Accumulated Funds								
-1,456		Operating Result for the Period	-1,456	-1,481	-2	-1,481	-1,481	-1,481		
		Reserves								
-1,456		Total Income And Expense For The Period	-1,456	-1,481	-2	-1,481	-1,481	-1,481		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
3,261		Capital Injections	3,261	408	-87	316	324	332		
58		Inc/Dec in Net Assets due to Admin Restructure	58	0	-100	0	0	0		
35,246		Closing Balance	34,713	33,640	-3	32,475	31,318	30,169		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement 
•	government payment for outputs:  the increase of $0.435 million in the 2007‑08 Budget from the 2006‑07 estimated outcome is mainly due to a one‑off injection of funding for repair and maintenance requirements.
•	user charges – ACT Government:  the increase of $0.209 million in the 2007‑08 Budget from the 2006‑07 estimated outcome is mainly due to the full-year effect of the rental income received from the Department of Territory and Municipal Services for the Civic Library. 
•	supplies and services:  the increase of $0.781 million in the 2007‑08 Budget from the 2006‑07 estimated outcome is mainly due to increased spending on repairs and maintenance and increased costs of  services relating to theatre activities.
•	depreciation and amortisation:  the increase of $0.140 million in the 2007‑08 Budget from the 2006‑07 estimated outcome is due mainly to the full year impact of the completion of the Civic Library and Link Project and Canberra Theatre Centre Access Improvements.
Balance Sheet 
•	cash:  the increase of $0.347 million in the 2006‑07 estimated outcome from the original budget mainly relates to cash advances paid to the Corporation for the Civic Library and Link Project.  The $0.139 million increase in the 2007‑08 Budget from the 2006‑07 estimated outcome is due to an improved operating result (before depreciation) in 2007‑08. 
•	current receivables:  the increase of $0.721 million in the 2006‑07 estimated outcome from the original budget reflects an increase in payments due to the Corporation as at 30 June 2006, mainly in relation to box office income.
•	other current assets:  the increase of $0.252 million in the 2006‑07 estimated outcome from the original budget reflects an increase in prepayments made by the Corporation as at 30 June 2006, mainly in relation to capital works not completed as at 30 June 2006.
•	current payables:  the increase of $0.166 million in the 2006‑07 estimated outcome from the original budget reflects an increase in the Corporation’s creditors as at 30 June 2006, mainly in relation to an insurance premium on a capital works project.
•	current employee benefits:  the increase of $0.683 million in the 2006‑07 estimated outcome from the original budget relates to the ACT Accounting Policy requirement to classify all annual leave and unconditional long service leave as current employee benefits. The change in policy is attributable to advice received regarding the interpretation of the Australian Accounting Standards.
•	other current liabilities:  the increase of $0.106 million in the 2006‑07 estimated outcome from the original budget reflects the retrospective recognition of a lease incentive, under the Australian equivalents of International Financial Reporting Standards.
•	non-current employee benefits:  the decrease of $0.514 million in the 2006‑07 estimated outcome from the original budget relates to the ACT Accounting Policy requirement to classify all annual leave and unconditional long service leave as current employee benefits. The change in policy is attributable to advice received regarding the interpretation of the Australian Accounting Standards.
•	other non-current liabilities:  the increase of $0.521 million in the 2006‑07 estimated outcome from the original budget reflects the retrospective recognition of a lease incentive, under the Australian equivalents of International Financial Reporting Standards.