|

Financial
Outcomes
Operating
outcome
During
the financial year 2001–02 operating revenues, including revenue
from Government, were $224.928m and operating expenses were
$61.061m resulting in a net operating surplus before Capital
Use Charge of $163.867m. After recognising the Capital Use
Charge of $162.57m the operating result was $1.297m.
The
operating surplus after Capital Use Charge of $1.297m was
$0.827m higher than the budget of $0.47m as reported in the
Portfolio Additional Estimates Statements 2001–02. The higher
surplus was primarily due to higher than budgeted sales of
goods and services.
Operating
revenue
Total
operating revenue of $224.928m was $0.845m above budget and
compares to total actual revenue of $279.967m for the 2000–01
financial year. A comparison of revenue across items against
budget and last financial year is set out below. Please note
the use of a logarithmic scaling in this graph.

click
chart to enlarge
The
major variations between years relates to the one-off effect
of the recognition of National Collection material which was
valued for the first time in 2000–01 and included in other
revenue ($45.533m), and a reduction in appropriation funding
(-$5.308m). There were a number of factors that varied appropriation
funding between years and the more significant were: a reduction
in funding for the Capital Use Charge due to a reduction in
the charge from 12% to 11% and the revaluation of the National
Collection in June 2000 (-$14.631m); additional funding to
compensate the Library for loss of interest following administrative
changes removing access to the Capital Use Charge funding
for investment purposes ($4.7m); and additional funding for
depreciation as a consequence of the revaluation of the National
Collection ($3.264m).
The
actual variation of $0.845m against 2001–02 budget and actual
outcome relates primarily to variations in revenue following
the success of the Treasures
from the World’s Great Libraries
exhibition.

Operating
expenses
Total
operating expenses of $61.061m were $0.118m below budget and
$5.437m above the 2000–01 financial year. A comparison of
expenditure across items and against budget and last financial
year is set out below. Please note the use of a logarithmic
scaling in this graph.

click
chart to enlarge
The
major variation between years of $5.437m in operating expenses
primarily relates to an increase in depreciation expenses
associated with the revaluation of the National Collection
($3.264m); and additional expenditure associated with the
Treasures
exhibition ($1.85m).
Overall
the variation against budget (-$0.118) was minor and mainly
relates to increased staff costs and offsetting reductions
in supplier expenses.

Equity
The
Library’s total equity increased by $4.419m to $1,669.72m
in 2001–02. The increase was a result of an equity injection
($1.03m), a revaluation increment ($2.092m) following the
revaluation of the Library’s plant and equipment and the net
operating result after Capital Use Charge for the year of
$1.297m.
Total
assets
After
allowing for the revaluation increment of $2.092m the Library’s
total assets remained virtually unchanged from last financial
year at $1,681.58m as displayed on the following graph. Please
note the use of a logarithmic scaling in this graph.

click chart to enlarge
The
main change between financial years was the increase in the
value of plant and equipment following the 30 June 2002 revaluation.

Total
liabilities
The
Library’s total liabilities reduced by $0.736m from last financial
year to $11.863m as set out below.

click
chart to enlarge
The
main changes related to: a reduction in supplier expenses
(-$1,718m) which reflected reduced expenditure in the last
quarter when compared to the 2000–01 financial year; and increased
employee provisions ($1.03m), which reflects increased staff
costs and the recognition of a provision for separation and
redundancies.

Cash
flow statement
Overall
there was a minor movement in the Library’s cash balance,
which decreased by $0.264m to $9.106m as at 30 June 2002.
The Library holds cash to meet existing liabilities and fund
ongoing operational activities including asset purchases.
A comparison of cash flow items against current and previous
financial year is set out below.

click
chart to enlarge
The
variation (-$13.982m) in net operating activities reflects
the comments previously made under operating revenues and
expenses. The variation ($2.578m) in the net investing activities
reflects the use of the additional depreciation funding received
for the National Collection. The variation
(-$14.754m)
in net cash from financing activities reflects the decline
in the Capital Use Charge following the reduction in the charge
from 12% to 11% and the revaluation of the National Collection
in June 2000.

Resource
table
TOTAL
RESOURCES FOR OUTCOME 1
| |
Budget(1)
2001–2002
$’000
|
Actual
2001–2002
$’000
|
Variation
to budget
$’000
|
| Departmental
appropriations |
|
|
|
|
Output 1.1 — The Collection |
18,325
|
18,177
|
-148
|
| Output
1.2 — Information Services |
179,659
|
179,635
|
-24
|
| Output
1.3 — Public Programs |
7,523
|
7,586
|
+63
|
| Output
1.4 — Australian Library Network Services |
4,758
|
4,867
|
+109
|
| Contributing
to price of departmental outputs |
210,265
|
210,265
|
0
|
| |
|
|
|
|
Revenue from other sources |
|
|
|
| Output
1.1 — The Collection |
4,495
|
4,196
|
-299
|
| Output
1.2 — Information Services |
1,542
|
2,000
|
+458
|
| Output
1.3 — Public Programs |
855
|
1,823
|
+968
|
| Output
1.4 — Australian Library Network Services |
6,926
|
6,644
|
-282
|
| Total
revenue from other sources |
13,818
|
14,663
|
+845
|
| |
|
|
|
Total
price of departmental outputs and resourcing
(Total revenue from Government and from other sources)
|
224,083
|
224,928
|
+845
|
|
|
|
|
| Average
staffing level (number) |
517
|
501
|
-16
|
(1)
Note the budget is that as published in the Portfolio Additional
Estimates Statements 2001–02
|