Cultural facilities corporation
Purpose
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’s functions include the performing arts, the visual arts, social history and cultural heritage management.  It seeks to provide high quality cultural experiences based on the arts and heritage resources that it holds in trust for the people of Canberra.  
2011‑12 Priorities
Strategic and operational issues to be pursued in 2011‑12 include:
•	maximising visitation to, and patronage of, the Corporation’s facilities/programs through a wide range of visual arts, social history and performing arts programs including targeted audience development and community outreach;
•	presenting exhibitions, education and community programs at the museums and galleries managed by the Corporation, with involvement in preparations for the Centenary of Canberra in 2013, and in other 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; 
•	replacing The Playhouse chillers in order to ensure a continuing high level of comfort for patrons, performers and staff; and
•	undertaking the third year of a multi‑year capital project comprising a package of conservation/upgrade works needed to bring the ACT Historic Places managed by the Corporation (Lanyon, Calthorpes’ House and Mugga Mugga) up to a sound condition and to protect their structural integrity and heritage values into the future.
Business and Corporate Strategies
Specific business and corporate strategies underpinning the above priorities, which will be pursued in 2011‑12 include:
•	continuing to provide a range of cultural services to the community through activities such as theatre presentations, exhibitions, and education and community programs, and through conserving and presenting significant aspects of the ACT’s cultural heritage;
•	contributing to the vision and strategic themes of the Canberra Plan especially in terms of supporting Canberra’s development as a creative, vibrant city;
•	taking a significant role in the approach to the Centenary of Canberra in 2013; 
•	engaging actively with the community in telling the many stories of Canberra;
•	connecting with other cultural facilities, organisations and experiences, including through strategic partnerships; 
•	seeking to manage the key strategic risk that impacts on the Corporation’s financial position, the variability and unpredictability of the performing arts business; and
•	
implementing a budget strategy that seeks to place the Corporation’s finances on a sound and sustainable basis into the future.  The Corporation’s 2011‑12 budget strategy will, in particular, address a further 0.5 per cent whole of Government efficiency dividend applied in the 2010-11 Budget and effective from 2011‑12, together with the savings initiative.
Estimated Employment Level
2009‑10
Actual Outcome		2010-11
Budget
	2010-11
Est.  Outcome	2011-12
Budget
	
86	Staffing (FTE) 	81	771	741	
Note:
1.	The high number of casuals employed and the variations in patterns of casual employment make a definitive FTE difficult to estimate.  The 2011‑12 Budget and 2010‑11 estimated outcome FTE have been calculated on the basis of expectations of staffing, especially casual employment, at these times.  
Strategic Objectives and Indicators
Strategic Objective 1
Providing cultural leadership, excellence and innovation
The Corporation’s objective is to be recognised as providing 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 1:  Quality of programs and activities
The quality of the Corporation’s programs and activities is demonstrated by factors such as:  the inclusion of major national and international performing arts companies in programming at the Canberra Theatre Centre; the featuring of major Canberra region artists and of significant Canberra region social history themes, in the exhibition schedule of the Canberra Museum and Gallery; and the management of the Historic Places in accordance with ACT heritage legislation.  
Strategic Objective 2
Promoting community involvement in the Corporation programs and activities
The Corporation’s objective is 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.

Strategic Indicator 2:  Extent of community participation in, and support for, cultural programs and activities
Visitation to Corporation facilities and participation in Corporation programs is maximised, including local performing arts usage of Canberra Theatre Centre venues.  This community visitation and participation is balanced with the Corporation’s cultural responsibilities, especially with regard to conservation of the Historic Places.  Community support for the Corporation's activities is further demonstrated by the extent of sponsorship, donations and volunteer hours contributed.  
Output Classes
	Total Cost1	Government Payment for Outputs	
	2010-11
Est. Outcome
$’000	2011-12
 Budget
$’000	2010-11
Est. Outcome
$’000	2011-12
Budget
$’000	
Output Class 1:
Cultural Facilities Management	14,277	14,414	7,440	7,414	
Output 1.1:  Cultural Facilities Corporation	14,277	14,414	7,440	7,414	
Note:
1.  Total cost includes depreciation of $1.979 million in 2010‑11 and $2.028 million in 2011‑12.
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 (CMAG), including the Nolan Collection Gallery @ CMAG; and
•	the ACT 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, community programs and other events) at each site and through the conservation and interpretation of the ACT Historic Places.

Accountability Indicators
	2010‑11
Targets	2010‑11
Est.  Outcome	2011‑12
Targets	
Output Class 1:  Cultural Facilities Management	
Output 1.1:  Cultural Facilities Corporation	
				
a.	Estimated number of visitors/patrons to facilities1	302,100	272,818	285,100	
b.	Number of exhibitions at facilities managed by the Corporation2	18	19	20	
c.	Number of education and community programs at facilities managed by the Corporation 	440	423	440	
d.	Number of days venue usage at the Canberra Theatre Centre’s venues 3	690	607	620	
e.	Customer satisfaction with quality of services provided by the Corporation, as measured by annual survey	80%	>80%	80%	
f.	Cost to Government per estimated visitor/patron to facilities managed by the Corporation4	$24.63	$27.27	$26.00	
g.	Own sourced revenue as a proportion of total revenue for the Corporation5	37.5%	39.8%	40.5%	
Notes:
1.	The decrease in the 2010‑11 Estimated Outcome from the 2010‑11 Target is mainly due to lower than projected theatre patrons, consistent with the wider performing arts industry and with a more general reduction in consumer spending.  The decrease in the 2011‑12 Target from the 2010‑11 Target is due to the expectation that levels of theatre patronage in 2011‑12 will be similar to outcomes in 2010‑11.
2.	The increase in the 2010‑11 Estimated Outcome from the 2010‑11 Target is due to an additional exhibition at the Canberra Museum and Gallery.  The increase in the 2011‑12 Target from the 2010‑11 Target is mainly due to further additional exhibitions at the Canberra Museum and Gallery in the lead up to the Centenary of Canberra.
3.	The decrease in the 2010‑11 Estimated Outcome from the 2010‑11 Target is due to lower than projected theatre venue hires.  The decrease in the 2011‑12 Target from the 2010‑11 Target is due to the expectation that levels of theatre usage in 2011-12 will be similar to outcomes in 2010‑11.
4.	The increase in the 2010‑11 Estimated Outcome from the 2010‑11 Target is due to a lower estimated number of visitors/patrons in 2010‑11.  The increase in the 2011‑12 Target from the 2010‑11 Target is due to a lower estimated number of visitors/patrons in 2011‑12.
5.	The increase in the 2010‑11 Estimated Outcome from the 2010‑11 Target is due to higher than expected non-Government user charges in 2010‑11.  The increase in the 2011‑12 Target from the 2010‑11 Target is due to the expectation that the non-Government user charges in 2011‑12 will continue at similar high level.  

Changes to Appropriation
Changes to Appropriation - Controlled						
 	2010-11	2011-12	2012-13	2013-14	2014-15	
Government Payment for Outputs	Est.  Out.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2010-11 Budget	7,440	7,597	7,769	7,892	7,892	
						
2011-12 Budget Policy Adjustments						
Replacement of The Playhouse Chillers	-	-	10	10	10	
Revised Wages Parameters 		27	106	108	110	
Savings Initiative		(228)	(234)	(237)	(241)	

2011-12 Budget Technical Adjustment						
Revised Indexation Parameters	- 	18 	18 	19	167	
						
2011-12 Budget	7,440	7,414	7,669	7,792	7,938	

Changes to Appropriation - Controlled						
 	2010-11	2011-12	2012-13	2013-14	2014-15	
Capital Injections	Est.  Out.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2010-11 Budget	1,686	853	659	360	360	
						
FMA 16B Rollover from 2009‑10						
Rollover – Historic Places Major Project	348 	-	-	-	-	
						
2011-12 Budget Policy Adjustments						
Replacement of The Playhouse Chillers	-	230	-	-	-	
						
2011-12 Budget Technical Adjustments						
Capital Upgrades Indexation	-	-	-	-	9	
						
2011-12 Budget	2,034	1,083	659	360	369	

2011‑12 Capital Works Program
 	Estimated	Estimated	2011-12	2012-13	2013-14	Physical 	
	Total	Expenditure	Financing	Financing	Financing	Completion 	
	Cost	Pre 2011‑12				Date  	
 	$’000	$’000	$’000	$’000	$’000	 	
							
Capital Upgrades							
Canberra Theatre Centre	202	-	202				
Canberra Museum and Gallery and Historic Places	140	-	140				
							
Total Capital Upgrades	342	-	342				
							
Total New Works	342	-	342				
							
Works in Progress							
Historic Places Major Project	3,683	2,864	511	308	-	Jun 2013	
							
Total Works in Progress	3,683	2,864	511	308	-		
							
Total Capital Works Program	4,025	2,864	853	308	-		

Cultural Facilities Corporation
Operating Statement
  2010-11			  2010-11	   2011-12		  2012-13	    2013-14	  2014-15		
    Budget			Est.Outcome	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		Income								
		Revenue								
7,440		Government Payment for Outputs	7,440	7,414	..	7,669	7,792	7,938		
3,922		User Charges - Non ACT Government	4,422	4,546	3	4,565	4,585	4,600		
457		User Charges - ACT Government	457	474	4	474	474	474		
55		Interest	55	60	9	65	71	71		
39		Resources Received Free of Charge	39	39	-	39	39	39		
11,913		Total Revenue	12,413	12,533	1	12,812	12,961	13,122		
		Gains								
0		Total Gains	0	0	-	0	0	0		
11,913		Total Income	12,413	12,533	1	12,812	12,961	13,122		
		Expenses								
5,305		Employee Expenses	5,491	5,402	-2	5,556	5,615	5,675		
748		Superannuation Expenses	745	781	5	793	793	794		
5,701		Supplies and Services	6,001	6,142	2	6,234	6,317	6,417		
1,979		Depreciation and Amortisation	1,979	2,028	2	2,074	2,074	2,074		
61		Other Expenses	61	61	-	61	61	61		
13,794		Total Ordinary Expenses	14,277	14,414	1	14,718	14,860	15,021		
-1,881		Operating Result	-1,864	-1,881	-1	-1,906	-1,899	-1,899		
-1,881		Total Comprehensive Income	-1,864	-1,881	-1	-1,906	-1,899	-1,899		

Cultural Facilities Corporation
Balance Sheet
    Budget			Est.Outcome	    Planned		   Planned	   Planned	   Planned		
as at 30/6/11			as at 30/6/11	as at 30/6/12	   Var	as at 30/6/13	as at 30/6/14	as at 30/6/15		
   $'000			   $'000	     $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
502		Cash and Cash Equivalents	246	304	24	367	436	505		
360		Receivables	577	578	..	579	580	581		
22		Inventories	24	24	-	24	24	24		
126		Other	154	154	-	154	154	154		
1,010		Total Current Assets	1,001	1,060	6	1,124	1,194	1,264		
		Non Current Assets								
49,026		Property, Plant and Equipment	49,525	48,730	-2	47,465	45,901	44,346		
116		Capital Works in Progress	0	0	-	0	0	0		
49,142		Total Non Current Assets	49,525	48,730	-2	47,465	45,901	44,346		
50,152		TOTAL ASSETS	50,526	49,790	-1	48,589	47,095	45,610		
		Current Liabilities								
306		Payables	429	429	-	429	429	429		
23		Finance Leases	26	26	-	26	26	26		
1,324		Employee Benefits	1,353	1,413	4	1,457	1,501	1,545		
176		Other	227	227	-	227	227	227		
1,829		Total Current Liabilities	2,035	2,095	3	2,139	2,183	2,227		
		Non Current Liabilities								
104		Finance Leases	76	76	-	76	76	76		
90		Employee Benefits	111	113	2	115	116	117		
383		Other	329	329	-	329	329	329		
577		Total Non Current Liabilities	516	518	..	520	521	522		
2,406		TOTAL LIABILITIES	2,551	2,613	2	2,659	2,704	2,749		
47,746		NET ASSETS	47,975	47,177	-2	45,930	44,391	42,861		
		REPRESENTED BY FUNDS EMPLOYED								
28,612		Accumulated Funds	28,734	27,936	-3	26,689	25,150	23,620		
19,134		Reserves	19,241	19,241	-	19,241	19,241	19,241		
47,746		TOTAL FUNDS EMPLOYED	47,975	47,177	-2	45,930	44,391	42,861		

Cultural Facilities Corporation
Cash Flow Statement
  2010-11			  2010-11	   2011-12		  2012-13	    2013-14	  2014-15		
    Budget			Est.Outcome	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
7,440		Cash from Government for Outputs	7,440	7,414	..	7,669	7,792	7,938		
4,391		User Charges	4,891	5,032	3	5,051	5,071	5,086		
55		Interest Received	55	60	9	65	71	71		
511		Other Revenue	511	511	-	511	511	511		
12,397		Operating Receipts	12,897	13,017	1	13,296	13,445	13,606		
		Payments								
5,251		Related to Employees	5,431	5,341	-2	5,511	5,571	5,631		
748		Related to Superannuation	745	781	5	793	793	794		
5,670		Related to Supplies and Services	5,970	6,111	2	6,203	6,286	6,386		
576		Other	576	576	-	576	576	576		
12,245		Operating Payments	12,722	12,809	1	13,083	13,226	13,387		
152		NET CASH INFLOW/ (OUTFLOW) FROM OPERATING ACTIVITIES	175	208	19	213	219	219		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
1,836		Purchase of Property, Plant and Equipment and Capital Works	2,184	1,233	-44	809	510	519		
1,836		Investing Payments	2,184	1,233	-44	809	510	519		
-1,836		NET CASH INFLOW/ (OUTFLOW) FROM INVESTING ACTIVITIES	-2,184	-1,233	44	-809	-510	-519		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Receipts								
1,686		Capital Injection from Government	2,034	1,083	-47	659	360	369		
1,686		Financing Receipts	2,034	1,083	-47	659	360	369		
1,686		NET CASH INFLOW/ (OUTFLOW) FROM FINANCING ACTIVITIES	2,034	1,083	-47	659	360	369		
2		NET INCREASE/ (DECREASE) IN CASH HELD	25	58	132	63	69	69		
500		CASH AT BEGINNING OF REPORTING PERIOD	221	246	11	304	367	436		
502		CASH AT THE END OF THE REPORTING PERIOD	246	304	24	367	436	505		

Cultural Facilities Corporation
Statement of Changes in Equity
    Budget			Est.Outcome	    Planned		   Planned	   Planned	   Planned		
as at 30/6/11			as at 30/6/11	as at 30/6/12	   Var	as at 30/6/13	as at 30/6/14	as at 30/6/15		
   $'000			   $'000	     $'000	    %	    $'000	    $'000	    $'000		
		Opening Equity								
28,807		Opening Accumulated Funds	28,564	28,734	1	27,936	26,689	25,150		
19,134		Opening Asset Revaluation Reserve	19,241	19,241	-	19,241	19,241	19,241		
47,941		Balance at the Start of the Reporting Period	47,805	47,975	..	47,177	45,930	44,391		
		Comprehensive Income								
-1,881		Operating Result for the Period	-1,864	-1,881	-1	-1,906	-1,899	-1,899		
-1,881		Total Comprehensive Income	-1,864	-1,881	-1	-1,906	-1,899	-1,899		
0		Total Movement In Reserves	0	0	-	0	0	0		
		Transactions Involving Owners Affecting Accumulated Funds								
1,686		Capital Injections	2,034	1083	-47	659	360	369		
1,686		Total Transactions Involving Owners Affecting Accumulated Funds	2,034	1083	-47	659	360	369		
		Closing Equity								
28,612		Closing Accumulated Funds	28,734	27,936	-3	26,689	25,150	23,620		
19,134		Closing Asset Revaluation Reserve	19,241	19,241	-	19,241	19,241	19,241		
47,746		Balance at the End of the Reporting Period	47,975	47,177	-2	45,930	44,391	42,861		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	user charges - non ACT Government:
–	  the increase of $0.5 million in the 2010‑11 estimated outcome from the original budget is mainly due to higher than budgeted income at the Canberra Theatre Centre; and
–	the increase of $0.124 million in the 2011‑12 Budget from the 2010‑11 estimated outcome is mainly due to increased income from activity at the Canberra Theatre Centre.
•	
employee expenses:
–	the increase of $0.186 million in the 2010‑11 estimated outcome from the original budget is mainly due to increased salaries associated with the higher than budgeted income at the Canberra Theatre Centre.
•	supplies and services:  
–	the increase of $0.3 million in the 2010‑11 estimated outcome from the original budget is mainly due to increased costs relating to higher than budgeted income at the Canberra Theatre Centre; and
–	the increase of $0.141 million in the 2011‑12 Budget from the 2010‑11 estimated outcome  is mainly due to variations in the Canberra Theatre Centre’s operating costs.
Balance Sheet
•	cash and cash equivalents:  
–	the decrease of $0.256 million in the 2010‑11 estimated outcome from the original budget is due to 2009‑10 audited outcome flow-on effects; and
–	the increase of $0.058 million in the 2011‑12 Budget from the 2010‑11 estimated outcome is due to positive cash flows from operations.
•	receivables:  the increase of $0.217 million in the 2010‑11 estimated outcome from the original budget is due to 2009‑10 audited outcome flow-on effects.
•	other current assets:  the increase of $0.028 million in the 2010‑11 estimated outcome from the original budget is mainly due to an increase in the number of Canberra Theatre Centre shows disclosed as work in progress at year end.
•	property, plant and equipment:  
–	the increase of $0.499 million in the 2010‑11 estimated outcome from the original budget is due to 2009‑10 audited outcome flow-on effects; and
–	the decrease of $0.795 million in the 2011‑12 Budget from the 2010‑11 estimated outcome is mainly due to a reduction in the rate of asset replacement, partially offset by the replacement of The Playhouse chillers for $0.230 million.
•	capital works in progress:  the decrease of $0.116 million in the 2010‑11 estimated outcome from the original budget is due to 2009‑10 audited outcome flow-on effects.
•	current payables:  the increase of $0.123 million in the 2010‑11 estimated outcome from the original budget is mainly due to 2009‑10 audited outcome flow-on effects.
Cash Flow Statement
Variances in the statement are explained in the notes above.
Statement of Changes in Equity 
Variances in the statement are explained in the notes above.