bw-home-icon[1] Cultural Facilities Corporation home u Annual Report 2013-14

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F. Financial Management Reporting

 

F.1 Financial Management Analysis  99

F.2 Financial Statements  99

F.3 Capital Works   100

F.4 Asset Management 102

F.5 Government Contracting  104

F.6 Statement of Performance  108

F.1 Financial Management Analysis

 

A full analysis of the CFC’s 2013-14 financial results and financial position is set out in the Management Discussion and Analysis at Attachment 1 to this report.

 

F.2 Financial Statements 


The CFC’s 2013-14 Financial Statements are set out in Attachment 1 to this report.

 


F.3 Capital Works

 

2013-14 CAPITAL WORKS TABLE

 

 

Project

Estimated completion date

Actual completion date

Original project value

$

Revised project value

$

Prior year expenditure

 

$

Current year expenditure

 

$

Total expenditure to date

$

New Capital Works

 

 

 

 

 

 

 

Lanyon Heritage Precinct Community Access Roads

June 2015

-

400,000

400,000

-

300,000

300,000

 

 

 

 

 

 

 

 

Capital Upgrades

 

 

 

 

 

 

 

Canberra Theatre Centre

June 2014

June 2014

60,000

130,000

-

127,850

127,850

CMAG & Historic Places

June 2014

June 2014

300,000

230,000

-

232,150

232,150

 

 

 

 

 

 

 

 

Total New Capital Works

 

 

760,000

760,000

-

660,000

660,000

 

 

 

 

 

 

 

 

Works in Progress

 

 

 

 

 

 

 

Canberra Theatre Centre Upgrade works

June 2015

-

3,109,000

3,109,000

786,000

1,830,000

2,616,000

 

 

 

 

 

 

 

 

Total Works in Progress

 

 

3,109,000

3,109,000

786,000

1,830,000

2,616,000

 

 

 

 

 

 

 

 

Total Capital Works Program

 

 

3,869,000

7,143,000

786,000

2,490,000

3,276,000

 


2013-14 CAPITAL WORKS RECONCILIATION

 

 

2013-14 Approved

Financing

$

2013-14 Drawdown

Amount

$

2013-14 Actual Expenditure

$

New Capital Works

 

 

 

Lanyon Heritage Precinct Community Access Roads

300,000

300,000

300,000

 

 

 

 

Capital Upgrades

 

 

 

Canberra Theatre Centre

60,000

127,850

127,850

CMAG & Historic Places

300,000

232,150

232,150

 

 

 

 

Works in Progress

 

 

 

Canberra Theatre Centre Upgrade works

1,830,000

1,830,000

1,830,000

 

 

 

 

Total Capital Works Program

2,490,000

2,490,000

2,490,000

 

 

 

 

Works Funded From Other Sources

 

 

 

Adjusted for Capital funded through Own Sourced Revenue

-

-

32,154

 

 

 

 

Balances per Capital Works Management

2,490,000

2,490,000

2,522,154

 

 

 

 

Balances per cash flow statements

-

2,490,000

2,522,154

 

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F.4 Asset Management

F.4.1    Assets Managed

The CFC managed assets with a total value of $59,069,256 as at 30 June 2014.  The CFC’s major assets and approximate values are :

 

Description

$

Canberra Theatre Centre, and extensions at fair value

29,887,230

Land at fair value

14,811,579

Historic Places and former Nolan Gallery building at fair value

5,488,139

Plant and Equipment at fair value

4,652,324

Art and Social History Collection

4,039,106

Intangible Assets

156,500

Capital Works in Progress

34,378

 

During 2013-14 the following major assets were added to the CFC’s asset register :

 

Description

$

Canberra Theatre Centre Upgrade works

1,831,495

Lanyon Heritage Precinct Community Access Roads

302,159

Art and Social History objects

146,042

Historic Places building alterations, greenhouse and equipment

114,347

Canberra Museum and Gallery building alterations, security package and equipment

104,607

 

During 2013-14 the following major assets were removed from the CFC’s asset register :

 

Description

$

UC Radio Microphone System and Equipment

11,066

Motor Vehicle under a Finance Lease

7,963

Cyclorama from the Canberra Theatre and The Playhouse

4,800

 

F.4.2    Assets Maintenance and Upgrade

 

The CFC maintains its assets in accordance with the CFC’s Asset Management Plan.

 

Asset upgrades (including works funded and reported through the capital works program) completed during 2013-14 were :

 

Description

$

Historic Places building alterations, greenhouse and equipment

114,347

Canberra Museum and Gallery building alterations, security package and equipment

104,607

The Playhouse boilers

85,475

Canberra Theatre integrated point of sale registers

42,375

Payroll upgrade for electronic timesheets

13,196

 

For building assets, the expenditure on repairs and maintenance was $331,243 which represented 1% of the assets written down value.  For Plant and Equipment assets, the expenditure on repairs and maintenance was $136,729 which represented 3% of the assets written down value.

 

A three year rolling independent valuation of the CFC’s assets has been implemented to ensure all items are reflected at fair value in the CFC’s asset register and any impairment is identified.

F.4.2    Office Accommodation

CFC staff members occupy or use premises at the Canberra Theatre Centre, CMAG, Lanyon, Calthorpes’ House, Mugga-Mugga and North Building administration area locations.

 

In view of the wide range of workplaces in which CFC staff work (including historic places, theatre and gallery environments, where areas used by staff as offices may be combined with other uses such as ticketing, patron servicing etc.), it is difficult to provide a precise figure of the average area occupied by each employee.  An estimate of the total office area occupied as at 30 June 2014 is 1,147 square metres and an estimate of the average area occupied by each employee (FTE staff only) as at 30 June 2014 is 14 square metres.

 

In addition, the CFC employs a varying number of staff on a casual, as required basis : such casual staff employment/numbers vary depending on the day-to-day operating requirements and are not included in the calculation of average area occupied by each employee.

 

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F.5 Government Contracting 

 

F.5.1    Procurement Principles and Processes

 

The CFC engaged external sources of labour and services during 2013-14 and these works and services were procured with the support and assistance of ACT Procurement Solutions as required.

 

The CFC believes that its procurement selection and management processes comply with the Government Procurement Act 2001 and Government Procurement Regulation 2007.  It liaises regularly with ACT Procurement Solutions on procurement matters including through the involvement of officers of ACT Procurement Solutions in the more complex or higher value procurement processes.

 

F.5.2    External Sources of Labour and Services

 

 

Individual Contracts exceeding $25,000 (excluding GST)

Name

Description and reason for Contract

Financial Year Expenditure

(GST excl.)

$

Procurement Type

Date contract let

Reason for use of select Tender (where outside Procurement Threshold $200,000)

Reason for use of non-prequalified construction supplier (where applicable)

Enta Australasia

Ticketing system for the Canberra Theatre Centre

149,632

Select tender

December 2009

-

-

Giraffe Visual Communications

Delivery and design of 2014 Canberra Theatre Centre subscription campaign

68,644

Select tender

June 2013

-

-

Hirotec Maintenance

Building maintenance works for Canberra Theatre Centre

204,243

Public tender

July 2012

-

-

Name

Description and reason for Contract

Financial Year Expenditure

(GST excl.)

$

Procurement Type

Date contract let

Reason for use of select Tender (where outside Procurement Threshold $200,000)

Reason for use of non-prequalified construction supplier (where applicable)

Impos Solutions International

Integrated POS System for Canberra Theatre

42,375

Quotations

April 2014

-

-

Quad Services

Cleaning services for the Canberra Theatre Centre

120,382

Public Tender

July 2013

-

-

SG Fleet Australia

Leasing and fleet management services

46,433

Public tender

April 2009

-

-

Sound Advice Australia

Lighting control desks for the Canberra Theatre Centre

150,405

Quotations

November 2013

-

-

Sound Advice Australia

Lighting profiles for the Canberra Theatre Centre

65,290

Quotations

June 2014

-

-

Sound Advice Australia

Feature lighting for the Canberra Theatre Link

59,861

Single select

June 2014

-

-

Sound Advice Australia

Wireless communication frequency update for sound equipment at the Canberra Theatre Centre

40,464

Single select

April 2014

-

-

Sound Advice Australia

Data distribution for the Canberra Theatre Centre

28,670

Quotations

April 2014

-

-

 

 

Contracts awarded to the same contractor which, in total, exceed $25,000

 

Name

Description and reason for contract

Financial year expenditure (GST excl.)

$

Procurement Type

Date Contract

Let

Reason for use of Select Tender (where outside Procurement Threshold $200,000)

Adina Apartment Hotel James Court

Accommodation for touring artists and theatre companies

41,994

Single select

Ongoing throughout the year

-

Australia Post

Postal services

39,089

Single select

Ongoing throughout the year

-

CanPrint

Publishing Services

35,980

Single select

Ongoing throughout the year

-

Chubb Fire & Security

Canberra Museum and Gallery fire doors and security services

26,881

Single select

Ongoing throughout the year

-

Domestic Security Services

Security monitoring for Canberra Theatre Centre

25,427

Single select

Ongoing throughout the year

-

Elcom Electrical Contractors

Building maintenance works for Canberra Theatre Centre

36,631

Single select

Ongoing throughout the year

-

Fairfax Media Publications

Advertising Services

148,289

Single select

Ongoing throughout the year

-

Frendon Industries

Canberra Museum and Gallery Audio Visual Equipment

31,084

Single select

Ongoing throughout the year

 

Gold Leaf Tree Services

Tree management services to ACT Historic Places

25,440

Quotations

Ongoing throughout the year

-

International Art Services

Transport and storage for works of art for the Canberra Museum and Gallery

35,022

Single select

Ongoing throughout the year

-

Name

Description and reason for contract

Financial year expenditure (GST excl.)

$

Procurement Type

Date Contract

Let

Reason for use of Select Tender (where outside Procurement Threshold $200,000)

Metro Media Technologies

Advertising Services

37,743

Single select

Ongoing throughout the year

-

Sedcom IT & Communication Solutions

Telecommunication services

48,423

Single select

Ongoing throughout the year

-

SNP Security

Security equipment for the Canberra Museum and Gallery

36,292

Quotations

May 2014

-

Win Television

Advertising Services

132,704

Single select

Ongoing throughout the year

-

 

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F.6 Statement of Performance

 

The CFC’s 2013-14 Statement of Performance is set out in Attachment 1 to this report.