The Royal Tasmanian Botanical Gardens (RTBG) is a Statutory Authority, governed by the Royal Tasmanian Botanical Gardens Act 2002 (RTBG Act). The RTBG Board, comprising seven members, is appointed by the Minister and is responsible for managing, conserving and enhancing the RTBG in accordance with the RTBG Act.
The responsible Minister is the Minister for Environment, Parks and Heritage, Hon Matthew Groom MP, and the supporting Agency is the Department of Primary Industries, Parks, Water and Environment.
The vision of the RTBG is to create and maintain an exceptional garden that enriches Tasmania's social and cultural life, showcases and contributes to the conservation of the flora of Tasmania, and educates the community about the importance of plants.
The mission of the RTBG is to sustainably manage the RTBG, conserve and develop the RTBG's living collections and heritage, and create and deliver an exemplary and enlightening visitor experience and thriving organisational culture.
This chapter provides the RTBG's budgeted financial information for 2017‑18 and over the Forward Estimates period (2018-19 to 2020-21). Further information on the RTBG is provided at www.rtbg.tas.gov.au.
The key deliverables for the RTBG include:
· implementing the Board's Business Operational Plan for 2016‑2021 and continuing the implementation of the Strategic Master Plan and its associated recommendations;
· developing and implementing sustainable business strategies aimed at increasing donations and self‑generated revenue;
· planning for, fundraising and implementing the RTBG's Bicentenary in 2018, including the completion of the Lily Pond Deck and the Sustainable Learning Centre projects;
· developing and implementing the early feasibility stage of the visitor infrastructure project aimed at enhancing the visitor experience and increasing earned income;
· developing and implementing a new Promotions and Marketing Plan;
· continuing to implement the outcomes of the structural and operational review of the organisation with the aim of ensuring the most efficient and effective use of resources;
· finalising and implementing the review of the strategic direction of the RTBG's education, learning and interpretation programs;
· developing and implementing a volunteer operational management plan;
· continuing to develop community engagement programs based around the Tasmanian Community Food Garden and other aspects of the RTBG's operations; and
· the ongoing operation of the Tasmanian Seed Conservation Centre and its associated research projects in partnership with the Royal Botanic Gardens Kew in London; the Department of Primary Industries, Parks, Water and Environment; the University of Tasmania; the Tasmanian Museum and Art Gallery Herbarium; and the Australian Seed Bank Partnership. The RTBG will continue to identify and secure ongoing funding for targeted collection and research programs both locally and in conjunction with the Australian Seed Bank Partnership.
Table 23.1: Statement of Comprehensive Income
|
|
Budget) |
Budget) |
Forward) Estimate) |
Forward) Estimate) |
Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Revenue and other income from transactions |
|
|
|
|
|
|
Grants |
2 665) |
2 749) |
2 828) |
2 894) |
2 894) |
|
Sales of goods and services1 |
593) |
695) |
709) |
723) |
738) |
|
Interest |
35) |
35) |
35) |
35) |
35) |
|
Other revenue2 |
80) |
431) |
234) |
238) |
243) |
|
Total revenue and other income from transactions |
3 373) |
3 910) |
3 806) |
3 890) |
3 910) |
|
|
|
|
|
|
|
|
Expenses from transactions |
|
|
|
|
|
|
Employee benefits |
2 451) |
2 494) |
2 544) |
2 595) |
2 647) |
|
Depreciation and amortisation3 |
303) |
317) |
321) |
290) |
290) |
|
Supplies and consumables4 |
910) |
1 548) |
1 193) |
1 216) |
1 240) |
|
Total expenses from transactions |
3 664) |
4 359) |
4 058) |
4 101) |
4 177) |
|
|
|
|
|
|
|
|
Net result from transactions (net operating balance) |
(291) |
(449) |
(252) |
(211) |
(267) |
|
|
|
|
|
|
|
|
Net result |
(291) |
(449) |
(252) |
(211) |
(267) |
|
|
|
|
|
|
|
|
Comprehensive result |
(291) |
(449) |
(252) |
(211) |
(267) |
|
|
|
|
|
|
|
Notes:
1. The increase in Sales of goods and services in 2017‑18 reflects the establishment of a Business Enterprise Unit focusing on increasing revenue streams including Sales of goods and services.
2. The increase in Other revenue in 2017‑18 reflects additional revenue received for building and infrastructure projects. Ongoing increases from 2017‑18 are due to the establishment of a Business Enterprise Unit focusing on increasing revenue streams including Other revenue.
3. The decrease in Depreciation and amortisation from 2019‑20 onwards is due to existing plant and equipment being fully depreciated.
4. The increase in Supplies and consumables in 2017‑18 reflects two major projects, being the renovation of the Sustainable Learning Centre and the building of the new Lily Pond Deck.
Table 23.2: Statement of Financial Position as at 30 June
|
|
2017)
Budget) |
2018)
Budget) |
2019) Forward) Estimate) |
2020) Forward) Estimate) |
2021) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Financial assets |
|
|
|
|
|
|
Cash and deposits1 |
695) |
258) |
327) |
406) |
429) |
|
Receivables2 |
16) |
30) |
30) |
30) |
30) |
|
Other financial assets2 |
....) |
67) |
67) |
67) |
67) |
|
|
711) |
355) |
424) |
503) |
526) |
|
Non-financial assets |
|
|
|
|
|
|
Inventories2 |
91) |
85) |
85) |
85) |
85) |
|
Property, plant and equipment3 |
7 006) |
10 516) |
10 352) |
10 227) |
10 094) |
|
Infrastructure2 |
3 330) |
2 923) |
2 783) |
2 629) |
2 467) |
|
|
10 427) |
13 524) |
13 220) |
12 941) |
12 646) |
|
|
|
|
|
|
|
|
Total assets |
11 138) |
13 879) |
13 644) |
13 444) |
13 172) |
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
Payables4 |
69) |
145) |
145) |
145) |
145) |
|
Employee benefits2 |
578) |
567) |
584) |
595) |
590) |
|
Other liabilities5 |
....) |
15) |
15) |
15) |
15) |
|
Total liabilities |
647) |
727) |
744) |
755) |
750) |
|
|
|
|
|
|
|
|
Net assets (liabilities) |
10 491) |
13 152) |
12 900) |
12 689) |
12 422) |
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
Reserves3 |
10 895) |
14 378) |
14 378) |
14 378) |
14 378) |
|
Accumulated funds |
(404) |
(1 226) |
(1 478) |
(1 689) |
(1 956) |
|
Total equity |
10 491) |
13 152) |
12 900) |
12 689) |
12 422) |
|
|
|
|
|
|
|
Notes:
1. The decrease in Cash and deposits in 2018 reflects additional expenditure for two major projects within the Gardens: the renovation of the Sustainable Learning Centre and the building of the new Lily Pond Deck.
2. The variations in Receivables, Other financial assets, Inventories, Infrastructure and Employee benefits between 2017 Budget and 2018 Budget primarily reflect revised estimates based on 30 June 2016 actuals.
3. The increases in Property, plant and equipment and Reserves in 2018 reflect a revaluation of land carried out in June 2016.
4. The increase in Payables from 2018 reflects a change in the accounts payable process. From 1 July 2016, RTBG accounts payable are processed through the Department of Primary Industries, Parks, Water and Environment, then reimbursed to the Department in the following month.
5. The increase in Other liabilities in 2018 reflects an increase in forward-dated bookings for venue hire.
Table 23.3: Statement of Cash Flows
|
|
2016-17)
Budget) |
2017-18)
Budget) |
2018-19) Forward) Estimate) |
2019-20) Forward) Estimate) |
2020-21) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
Cash inflows |
|
|
|
|
|
|
Grants |
2 665) |
2 749) |
2 828) |
2 894) |
2 894) |
|
Sales of goods and services1 |
592) |
695) |
709) |
723) |
738) |
|
GST receipts |
92) |
125) |
128) |
130) |
133) |
|
Interest received |
35) |
35) |
35) |
35) |
35) |
|
Other cash receipts2 |
98) |
431) |
234) |
238) |
243) |
|
Total cash inflows |
3 482) |
4 035) |
3 934) |
4 020) |
4 043) |
|
|
|
|
|
|
|
|
Cash outflows |
|
|
|
|
|
|
Employee benefits |
(2 196) |
(2 216) |
(2 260) |
(2 306) |
(2 352) |
|
Superannuation |
(255) |
(278) |
(284) |
(289) |
(295) |
|
GST payments |
(92) |
(125) |
(128) |
(130) |
(133) |
|
Supplies and consumables3 |
(907) |
(1 252) |
(1 173) |
(1 196) |
(1 220) |
|
Total cash outflows |
(3 450) |
(3 871) |
(3 845) |
(3 921) |
(4 000) |
|
|
|
|
|
|
|
|
Net cash from (used by) operating activities |
32) |
164) |
89) |
99) |
43) |
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
Payments for acquisition of non-financial asset3 |
(10) |
(298) |
(20) |
(20) |
(20) |
|
Net cash from (used by) investing activities |
(10) |
(298) |
(20) |
(20) |
(20) |
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents held |
22) |
(134) |
69) |
79) |
23) |
|
|
|
|
|
|
|
|
Cash and deposits at the beginning of the reporting period |
673) |
392) |
258) |
327) |
406) |
|
Cash and deposits at the end of the reporting period |
695) |
258) |
327) |
406) |
429) |
|
|
|
|
|
|
|
Notes:
1. The increase in Sales of goods and services in 2017‑18 reflects the establishment of a Business Enterprise Unit focusing on increasing revenue streams including Sales of goods and services.
2. The increase in Other cash receipts in 2017‑18 reflects additional revenue received for major projects. Ongoing increases from 2017‑18 reflect the establishment of a Business Enterprise Unit focusing on increasing revenue streams including Other revenue.
3. The increases in Supplies and consumables and Payments for acquisition of non-financial assets in 2017‑18 reflect two major building and infrastructure projects, being the renovation of the Sustainable Learning Centre and the building of the new Lily Pond Deck.