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.
2008-09 Priorities 
Strategic and operational issues to be pursued in 2008‑09 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;
•	implementing a package of initiatives to extend access to cultural programs for disadvantaged groups and individuals, and those with special needs;
•	creating a dedicated gallery space within the Canberra Museum and Gallery to display the Nolan Collection, together with providing additional interpretive programs that increase visitors’ understanding and enjoyment of the Collection; 
•	undertaking a major improvement of the acoustic capability of The Playhouse, in order to allow theatre patrons to enjoy high acoustic standards and ensure the venue continues to be regarded as one of Australia’s finest drama theatres;
•	installing a package of consistent directional and functional signage, together with major promotional signage, for the Canberra Theatre Centre, to enable theatre patrons safe, easy access to theatre venues and provide opportunities for marketing of theatre product; and
•	undertaking a package of conservation works and priority repairs and maintenance at the three Historic Places managed by the Corporation (Lanyon, Calthorpes’ House and Mugga Mugga) together with priority works at the Canberra Theatre Centre, and developing a detailed program to prioritise and plan future repairs and maintenance needs.
Estimated Employment Level
2007-08 Budget			2007-08 Est. Outcome	2008-09 Budget	
68		Staffing  (FTE)	68	69	

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.

Output Classes
	Total Cost1
	Government Payment for Outputs	
	2007-08
Est. Outcome
($’000)	Budget
2008-09
($’000)	2007-08
Est. Outcome
($’000)	Budget
2008-09
($’000)	
Output Class 1:
Cultural Facilities Management	13,394	13,375	6,869	7,105	
Output 1.1:
Cultural Facilities Corporation	13,394	13,375	6,869	7,105	
Note:
1.	Total cost includes depreciation of $2.001 million in 2007-08 and depreciation of $2.014 million in 2008-09.
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.
The Corporation also has responsibility for managing and developing the Civic Square precinct as a cultural focus of the ACT.

Accountability Indicators 
	2007-08
Targets	2007-08
Est. Outcome	2008-09
Targets	
Output Class 1: Cultural Facilities Management	
Output 1.1: Cultural Facilities Corporation	
				
a.	Number of visitors/patrons to facilities	344,000	344,000	344,000	
b.	Number of exhibitions at facilities managed by the Corporation1	25	21	21	
c.	Number of education and public programs at facilities managed by the Corporation2 	400	312	350	
d.	Number of days venue usage at the Canberra Theatre Centre’s venues	450	480	480	
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 Corporation 	$19.96	$19.96	$20.65	
g.	Own sourced revenue as a proportion of total revenue for the Corporation	39%	41%	39%	
				
Notes:
1.	The reduction in the 2007-08 estimated outcome from the 2007-08 target primarily relates to closure of the Nolan Gallery throughout 2007‑08, due to high humidity levels.  The reduction in the 2008-09 target from the 2007-08 target relates primarily to the continued closure of the Nolan Gallery throughout 2008‑09.  As a result, no target has been set for exhibitions at the Nolan Gallery during 2008‑09.  However, a selection of works from the Nolan Collection will be displayed at the Canberra Museum and Gallery during 2008‑09, and during the year, a dedicated gallery space for the Nolan Collection will be created within the Canberra Museum and Gallery, with an anticipated opening date of June 2009.
2.	The reduction in the 2007-08 estimated outcome from the 2007-08 target primarily relates to closure of the Nolan Gallery as outlined above.  However, a small number of programs focusing on the Nolan Collection will be provided during 2008-09 at the Canberra Museum and Gallery.  The 2008-09 target also reflects a decision to consolidate the number of programs at the historic places in order to use program resources more efficiently and minimise the impact on these sites, and during the year, new interpretive programs will be developed for the presentation in conjunction with the opening of a dedicated gallery space for the Nolan Collection within the Canberra Museum and Gallery.

Changes to Appropriation
Changes to Appropriation 						
 	2007-08	2008-09	2009-10	2010-11	2011-12	
Government Payment for Outputs	Est. Out.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2007-08 Budget	        6,869 	        6,813 	        6,985 	        7,122 	        7,122 	
						
2008-09 Budget Policy Adjustments 						
Additional Repairs and Maintenance Funding	 - 	100	 - 	 - 	 - 	
Access to Cultural Programs for Disadvantaged Groups and Individuals and those with Special Needs	 - 	139	142	146	149	
Interpretation of the Nolan Collection at the Canberra Museum and Gallery	 - 	53	113	115	118	
Nolan Collection Gallery at the Canberra Museum and Gallery	 - 	 - 	10	15	20	
						
2008-09 Budget Technical Adjustments						
Revised Indexation Parameters	 - 	 - 	 - 	 - 	132	
						
2008-09 Budget	        6,869 	        7,105 	        7,250 	        7,398 	        7,541 	

						

Changes to Appropriation						
 	2007-08	2008-09	2009-10	2010-11	2011-12	
Capital Injections	Est. Out.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2007-08 Budget	408	316	324	332	332	
						
2008-09 Budget Policy Adjustments 						
Nolan Collection Gallery at the Canberra Museum and Gallery	 - 	260	 - 	 - 	 - 	
Playhouse Major Acoustic and Sound System Upgrade	 - 	320	 - 	 - 	 - 	
Canberra Theatre Centre Signage Upgrade	 - 	267	 - 	 - 	 - 	
						
2008-09 Budget Technical Adjustments						
Capital Upgrade Program Indexation	 - 	1	1	2	10	
						
2008-09 Budget	408	1,164	325	334	342	

2008-09 Capital Works Program 
							
 	Estimated	Estimated	2008-09	2009-10	2010-11	Expected 	
	Total	Expenditure	Financing	Financing	Financing	Completion 	
	Cost	Pre 2008-09				Date  	
 	$’000	$’000	$’000	$’000	$’000	 	
							
New Capital Works							
Nolan Collection Gallery at the Canberra Museum and Gallery	260	-	260	-	-	Jun 2009	
Playhouse Major Acoustic and Sound System Upgrade	320	-	320	-	-	Jun 2009	
Canberra Theatre Centre Signage Upgrade	267	-	267	-	-	Jun 2009	
							
Total New Works	847	-	847	-	-		
							
Capital Upgrades							
Canberra Theatre	157	-	157					
ACT Museums and Galleries	70	-	70				
Historic Places	90	-	90				
							
Total Capital Upgrades	317	-	317				
							
Total New Capital Works	1,164	-	1,164	-	-		
	 	 	 	 	 		
Total Capital Works Program	1,164	-	1,164	- 	-	 	

Cultural Facilities Corporation	
Operating Statement	
  2007-08			  2007-08	   2008-09		  2009-10	  2010-11	  2011-12		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
6,869		Government Payment for Outputs	6,869	7,105	3	7,250	7,398	7,541		
3,837		User Charges - Non ACT Government	4,106	3,873	-6	3,971	3,972	4,055		
457		User Charges - ACT Government	452	457	1	457	457	474		
105		Interest	95	100	5	100	100	100		
0		Other Revenue	45	0	-100	0	0	0		
39		Resources Received free of charge	39	39	-	39	39	39		
11,307		Total Revenue	11,606	11,574	..	11,817	11,966	12,209		
		Gains								
0		Total Gains	0	0	-	0	0	0		
11,307		Total Income	11,606	11,574	..	11,817	11,966	12,209		
		Expenses								
4,837		Employee Expenses	5,085	5,079	..	5,203	5,232	5,275		
698		Superannuation Expenses	718	706	-2	702	713	741		
5,498		Supplies and Services	5,523	5,515	..	5,638	5,747	5,919		
1,694		Depreciation and Amortisation	2,001	2,014	1	2,044	2,044	2,044		
61		Other Expenses	67	61	-9	61	61	61		
12,788		Total Ordinary Expenses	13,394	13,375	..	13,648	13,797	14,040		
-1,481		Operating Result	-1,788	-1,801	-1	-1,831	-1,831	-1,831		

Cultural Facilities Corporation	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/08			as at 30/6/08	as at 30/6/09	   Var	as at 30/6/10	as at 30/6/11	as at 30/6/12		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
1,270		Cash and Cash Equivalents	599	732	22	838	944	1,050		
1,242		Receivables	704	705	..	706	707	708		
28		Inventories	26	26	-	26	26	26		
273		Other	79	79	-	79	79	79		
2,813		Total Current Assets	1,408	1,542	10	1,649	1,756	1,863		
		Non Current Assets								
33,138		Property, Plant and Equipment	34,798	34,098	-2	32,529	30,969	29,417		
33,138		Total Non Current Assets	34,798	34,098	-2	32,529	30,969	29,417		
35,951		TOTAL ASSETS	36,206	35,640	-2	34,178	32,725	31,280		
		Current Liabilities								
444		Payables	460	460	-	460	460	460		
0		Finance Leases	5	5	-	5	5	5		
1,180		Employee Benefits	1,130	1,199	6	1,242	1,285	1,328		
161		Other	123	123	-	123	123	123		
1,785		Total Current Liabilities	1,718	1,787	4	1,830	1,873	1,916		
		Non Current Liabilities								
5		Employee Benefits	43	44	2	44	44	44		
521		Other	484	485	..	486	487	488		
526		Total Non Current Liabilities	527	529	..	530	531	532		
2,311		TOTAL LIABILITIES	2,245	2,316	3	2,360	2,404	2,448		
33,640		NET ASSETS	33,961	33,324	-2	31,818	30,321	28,832		
		REPRESENTED BY FUNDS EMPLOYED								
28,863		Accumulated Funds	28,802	28,165	-2	26,659	25,162	23,673		
4,777		Reserves	5,159	5,159	-	5,159	5,159	5,159		
33,640		TOTAL FUNDS EMPLOYED	33,961	33,324	-2	31,818	30,321	28,832		

Cultural Facilities Corporation	
Cash Flow Statement	
  2007-08			  2007-08	   2008-09		  2009-10	  2010-11	  2011-12		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
6,869		Cash from Government for Outputs	6,869	7,105	3	7,250	7,398	7,541		
4,306		User Charges	4,570	4,342	-5	4,440	4,441	4,541		
105		Interest Received	95	100	5	100	100	100		
508		Other Revenue	553	509	-8	511	511	511		
11,788		Operating Receipts	12,087	12,056	..	12,301	12,450	12,693		
		Payments								
5,458		Related to Employees	5,726	5,715	..	5,862	5,902	5,973		
5,468		Related to Supplies and Services	5,493	5,484	..	5,607	5,716	5,888		
573		Other	579	574	-1	576	576	576		
11,499		Operating Payments	11,798	11,773	..	12,045	12,194	12,437		
289		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	289	283	-2	256	256	256		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
558		Purchase of Property, Plant and Equipment	558	1,314	135	475	484	492		
558		Investing Payments	558	1,314	135	475	484	492		
-558		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	-558	-1,314	-135	-475	-484	-492		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Receipts								
408		Capital Injection from Government	408	1,164	185	325	334	342		
408		Financing Receipts	408	1,164	185	325	334	342		
408		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	408	1,164	185	325	334	342		
139		NET INCREASE/(DECREASE) IN CASH HELD	139	133	-4	106	106	106		
1,131		CASH AT BEGINNING OF REPORTING PERIOD	460	599	30	732	838	944		
1,270		CASH AT THE END OF THE REPORTING PERIOD	599	732	22	838	944	1,050		

Cultural Facilities Corporation	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/08			as at 30/6/08	as at 30/6/09	   Var	as at 30/6/10	as at 30/6/11	as at 30/6/12		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
34,713		Opening Balance	35,341	33,961	-4	33,324	31,818	30,321		
		Accumulated Funds								
-1,481		Operating Result for the Period	-1,788	-1,801	-1	-1,831	-1,831	-1,831		
		Reserves								
-1,481		Total Income And Expense For The Period	-1,788	-1,801	-1	-1,831	-1,831	-1,831		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
408		Capital Injections	408	1,164	185	325	334	342		
33,640		Closing Balance	33,961	33,324	-2	31,818	30,321	28,832		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement 
•	user charges - non ACT Government:  
–	the increase of $0.269 million in the 2007‑08 estimated outcome from the original Budget is mainly due to a higher than anticipated level of activity at the Canberra Theatre Centre venues;  and
–	the decrease of $0.233 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is mainly due to activity at the Canberra Theatre Centre venues being forecast to return to normal levels.
•	other revenue:  the increase of $0.045 million in the 2007‑08 estimated outcome from the original budget and the decrease of $0.045 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is due to funding from the Whole of Government Restructure Fund in 2007-08 for redundancy payments.
•	employee expenses:  the increase of $0.248 million in the 2007‑08 estimated outcome from the original Budget is mainly due to additional salary costs relating to increased theatre activity.
•	depreciation:  the increase of $0.307 million in the 2007‑08 estimated outcome from the original budget is mainly due to a recalculation of the depreciation rate on the Civic Library and Link building. 
Balance Sheet 
•	cash and cash equivalents:  
–	the decrease of $0.671 million in the 2007‑08 estimated outcome from the original budget reflects the flow on effect of the 2006-07 audited result; and
–	the increase of $0.133 million in the 2008‑09 Budget from the 2007‑08 estimated outcome reflects improved cash flows from operations in 2008‑09.
•	receivables:  the $0.538 million decrease in the 2007‑08 estimated outcome from the original budget reflects an anticipated reduction in the level of creditors.
•	other current assets:  the decrease of $0.194 million in the 2007‑08 estimated outcome from the original budget reflects the reclassification of a flag banner frame from other assets to property, plant and equipment.
•	property, plant and equipment:  the increase of $1.660 million in the 2007‑08 estimated outcome from the original budget is mainly due to the flow on effect of the 2006‑07 actual result which had higher than budgeted spending on property, plant and equipment and the transfer of the flag banner frame from other assets.
•	current and non-current employee benefits:  the increase of $0.070 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is due to an increase in the value of leave entitlements.
Cash Flow Statement
•	purchase of property, plant and equipment:  the increase of $0.756 million in the 2008‑09 Budget from the 2007‑08 estimated outcome represents payments for capital works.
•	capital injection from Government:  the increase of $0.756 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is explained above.
Statement of Changes in Equity
Variances in the statement are explained in the notes above.