The National Museum of Australia is a statutory authority within the portfolio of the Department of the Prime Minister and Cabinet. The Australian Government funds the Museum to achieve an agreed outcome through a series of performance indicators, as specified in the annual Portfolio Budget Statements (PBS). The Museum’s outcome is to ensure:
Increased awareness and understanding of Australia’s history and culture by managing the National Museum’s collections and providing access through public programs and exhibitions.
(National Museum of Australia, Portfolio Budget Statements, 2010–11)
Financial summary
Total revenue for 2010–11 was $48.317 million (anticipated $47.144 million). Revenue from government was $40.144 million and revenue from other sources was $8.173 million (anticipated $7.000 million).
The Museum’s financial statements disclose an operating deficit of $0.104 million compared with the 2009–10 operating deficit of $2.246 million. The Museum also received an equity injection of $1.887 million in 2010–11 to fund National Historical Collection acquisitions.
Revenue from non-government sources increased by $0.676 million this year. This increase was the result of improved retail sales and interest earnings. Donated assets for 2010–11 were valued at $0.872 million.
Total expenses decreased by $1.168 million. The balance sheet discloses an increase in the Museum’s net assets to $19.657 million. In 2010–11 there was an increase in the asset revaluation reserve following an independent valuation of land and buildings ($8.137 million) and heritage and cultural assets ($9.737 million).
Cash as at 30 June 2011 totalled $2.177 million (30 June 2010: $2.246 million) and investments totalled $40.927 million (30 June 2010: $45.777 million).
Financial summary 2010–11, measured against PBS
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Budgeted outcome: $48.094m |
Actual outcome 2010–11: $48.421m |
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Departmental appropriations: $40.144m |
Actual appropriations: $40.144m |
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Revenue from other sources: $7.000m |
Actual revenue from other sources: $8.173m |
Financial summary 2009–10, measured against PBS
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Budgeted outcome: $46.998m |
Actual outcome 2009–10: $49.590m |
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Departmental appropriations: $40.182m |
Actual appropriations: $40.182m |
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Revenue from other sources: $4.366m |
Actual revenue from other sources: $7.162m |
Program summary
Quantitative and qualitative performance indicators were met or exceeded across the program that supports the Museum’s PBS outcome:
Program 1.1 Collection management, research, exhibitions and programs
- Collection management. The target of 100 per cent for the proportion of acquisitions acquired in accordance with the Collection Development Framework was achieved. The estimate for the percentage (75 per cent) of the National Historical Collection being packed or stored at, or above, appropriate museum standards was achieved (75 per cent).
- Research. The National Museum of Australia’s programs are informed by theory and practice across all of the professions, trades and disciplines relevant to the Museum’s themes. Research predicated on the highest standards of scholarship characterises all of the Museum’s outputs, ranging from advancing historical knowledge for external audiences through to development of internal governance systems. As a result, the Museum has developed a national and international reputation in museological practice.
- Exhibitions and programs. The target of 4,478,000 for the number of visitors to the Museum’s collections, exhibitions and programs (including web) was exceeded with a total of 4,960,348 (1,580,574 visitors and 3,379,774 web visitors). Visitor satisfaction with the Museum (96 per cent) exceeded the target (85 per cent).