The National Trust of Australia (New South Wales)

THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

ABN 82 491 958 802

GENERAL PURPOSE ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2015

This Financial Report was authorised for issue by the Board of Directors on 30 September 2015 The Board has the power to amend and re-issue the Financial Report.

CONTENTS

DIRECTORS’ REPORT ...... 1

DIRECTORS’ QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES ...... 5

AUDITOR’S INDEPENDENCE DECLARATION ...... 9

INDEPENDENT AUDITOR’S REPORT ...... 10

DIRECTOR’S DECLARATION ...... 12

PRINCIPAL OFFICER DECLARATION – CHARITABLE FUNDRAISING ACT 1991 ...... 13

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE

INCOME ...... 14

CONSOLIDATED STATEMENT OF FINANCIAL POSITION ...... 15

CONSOLIDATED STATEMENT OF CHANGES IN ACCUMULATED FUNDS ...... 16

CONSOLIDATED STATEMENT OF CASH FLOWS ...... 17

NOTES TO AND FORMING PART OF THE ACCOUNTS ...... 18

SUPPLEMENTAL SCHEDULES (UNAUDITED) ...... 37

THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ REPORT 30 June 2015

The Directors present their report together with the consolidated financial statements of the consolidated entity consisting of The National Trust of Australia (New South Wales) (“the Trust”) and the entities it controlled at the end of or during the year ended 30 June 2015, and the auditor’s report thereon.

As part of the long term funding strategy of the Trust, to preserve capital contributions received from third parties and proceeds from sale of Trust properties, a new structure was set up on 19 March 2013, consisting of a trustee company and two trusts. The Trustee Company is known as National Trust of Australia (NSW) Heritage Foundation Limited. The two Trusts are known as the National Trust of Australia (NSW) Heritage Foundation Trust (‘Heritage Foundation’) and National Trust of Australia (NSW) Heritage Foundation Ancillary Fund (‘Ancillary Trust’). These entities form part of the consolidated entity.

Directors The Directors noted below held office during the whole of the financial year and to the date of this report, unless indicated below. The Board met on 9 occasions during the year and the number of meetings attended by each of the Directors during the financial year was as follows:

Meetings Meetings Held attended while in Office Ian Carroll OAM, President 8 9 Professor Ross Griffith, Deputy President 7 9 Neil Wykes OAM, Treasurer 7 9 Pauline Adraskaslas (appointed 29 November 2014) 3 5 Elsa Atkin AM (until 22 January 2015) 5 5 Ronald Botrill (until 29 November 2014) 1 4 Kate Dezarnaulds (appointed 30 July 2014) 7 8 Merideth Hutton 8 9 Alan Kerr 9 9 Dr Clive Lucas 6 9 Raj Nanda (appointed 29 October 2014) 5 6 Keith Parsons 8 9 Brian Powyer (appointed 28 January 2015) 1 1 John Richardson 8 9 Brian Scarsbrick AM, Executive Director 9 9 Ian Stephenson 9 9

Ian Carroll OAM, Alan Kerr, John Richardson, Ian Stephenson and Neil Wykes were re-elected and Pauline Adraskaslas was newly elected by the members in November 2014. Ian Carroll OAM was re-elected as President, Professor Ross Griffith was re-elected as Deputy President and Neil Wykes OAM was re-elected as Treasurer in December 2014 by the Directors. The Executive Director does not participate in these elections.

The qualifications, experience and special responsibilities of Directors are set on pages 5 to 8.

Corporate Governance

The election of Directors held in November 2014 produced seven candidates for the six available positions on the Board. Therefore, an election of Board Directors was held. As a result, five sitting members sought re- election and five were returned. One new Director was elected.

The Finance, Audit and Risk Management Committee as well as many technical, fundraising, conservation and other volunteer committees continued to support the management of the consolidated entity during the year. Those committees at 30 June 2015 are recognised within the published Annual Review and a list is available on the consolidated entity’s public website.

1 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ REPORT (continued) 30 June 2015

Finance, Audit and Risk Management Committee

Members of the Finance, Audit and Risk Management Committee are shown below. All were members for the whole year unless otherwise stated. The number of meetings attended is shown below:

Meetings Meetings Held Attended while a Member Neil Wykes OAM, Chair 9 11 Ian Carroll OAM 7 11 John Richardson 10 11 Ronald Bottrill (until 18 November 2014) 2 5 Gary Hoare 9 11 Robyn Milner (appointed 18 November 2014) 6 7 Brian Scarsbrick AM 9 11

Short and long-term objectives and strategy

The consolidated entity’s short and long-term objectives are: • to be trusted as a leading independent guardian of Australia’s built, cultural and natural heritage, and defender of our sense of place and belonging in a changing world; • to advocate for the conservation of our built, cultural and natural heritage by engaging with the community and government; • to conserve and protect our built, cultural and natural heritage by example, advice and support; and • to educate and engage the community by telling our stories in ways that awaken a sense of place and belonging.

The Trust’s strategies for achieving these objectives include the following:

• to lobby, facilitate, promote and raise awareness to protect our built, cultural and natural heritage; • to conserve, maintain, preserve or restore the Trust’s buildings, landscapes and collections for current and future generations and advise and facilitate others on conservation techniques; • to use properties, collections and intellectual expertise to develop formal education and lifelong programs to encourage people of all ages to understand and relate to our heritage; • to manage and enhance the Trust’s reputation and communication with its audience, and maximise its brand and marketing to support the Trust’s goals; • to recruit, retain, involve and galvanise the Trust’s members and supporters; • to initiate, undertake and support fundraising activities and generate commercial income from business activities; • to support the Trust’s Board, staff and volunteers so they can work efficiently and effectively and optimise and maintain assets; and • To comply with legal and regulatory requirements, management of risks, policies, comply with the Trust’s constitution and values.

2 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ REPORT (continued) 30 June 2015

Principal Activities

The Trust is a community based statutory body and a charity which works to protect Australia’s heritage through advocacy, conservation and education within New South Wales. As independent charitable organisations, the Trust and the entities the Trust controls are supported by memberships, donations, sponsorships, bequests and volunteers.

The work of the Trust’s employees complements the estimated over 130,000 hours spent by volunteers to conserve and interpret heritage for the people of New South Wales.

The consolidated entity’s principal activities during the year included: • Advocacy - Millers Point Social and Historic Significance Conservation, Thompson Square – Windsor, the Sydney Harbour Control Tower, Avoca Beach Theatre, Cliefden Caves, balancing the impacts of Coal Mining, Moore Park Redevelopment, the Female Factory, Parramatta/North Parramatta Urban Renewal, National Trust Register Audit, major Policy and Position Paper development, the Ultimo Powerhouse Museum and the Newcastle Historic CBD and closure of the rail line; • Seeking and receiving $1,051,191 in specific and general purpose grants; • The Trust seeking and receiving from the NSW Office of Environment & Heritage - Heritage Branch a grant of $450,000 to cover over the three years ($225,000 received in 2015) for used towards conservation works on property State owned heritage assets. This grant is to be used to improve sustainability of the government owned properties. • Fundraising through gifts, donations, legacies, annual appeals and regular giving programs; • Providing direct assistance to clients in the management of native bushland through Bush Management Services bush regeneration contracts; • Operating a trading enterprise that comprises a number of shops, function facilities, art galleries and heritage properties. Income and interest in heritage is raised by events, gallery and property visitation (144,570 visitors in 2015 and 161,749 visitors in 2014), inspections and guided tours which are conducted by staff and volunteers. The Trust also raised funds from the commercial rental of some properties; • Helping the community to fund the conservation of significant heritage through Trust-endorsed conservation appeals; • Conducting the 21st annual National Trust Heritage Awards; • Completing a major upgrade of Dundullimal function Centre with the assistance of monies from the Estate of Barbara Web; and • The receipt of five bequests totalling $2,419,169;

These activities have assisted the consolidated entity in achieving its objectives by enabling it to:

• Raise $9.8million in revenue; • Fund major advocacy programs; and • Connect with communities.

3 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ REPORT (continued) 30 June 2015

Results During the year ended 30 June 2015 the consolidated entity received $1,944,195 more cash than it paid on its operating expenses and activities (2014: received more cash by $122,630 and 2013: the consolidated entity paid out more by $1,392,128). The consolidated entity reported a surplus for accounting purposes of $2,308,852 (2014: surplus of $426,472 and 2013: surplus of $1,585,968). This included a gain on revaluation of the consolidated entity’s investments of $443,670 (2014: $382,913) and bequests of $2,419,169 (2014: $350,117). The consolidated entity measures its performance based on the operating surplus/(deficit), which is the surplus/(deficit) before unrealised gains and losses on revaluation of investments, any bequests and before any profit or loss on sale of properties or collections. The operating deficit for the year was $807,053 compared with a deficit of $306,557 in 2014 and $1,239,433 in 2013.

State of Affairs The state of affairs of the consolidated entity continued to improve in the financial year under review. The year ended 30 June 2015 was the third consecutive year of net profit.

Auditor’s Independence Declaration

A copy of the Independence Declaration given to the Directors by HLB Mann Judd is included on page 9.

Signed on behalf of the Board by resolution of the Directors.

Ian Carroll OAM Brian Scarsbrick AM President Executive Director

30 September 2015

THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES 30 June 2015

Name Qualifications Experience Special responsibilities Ian Carroll OAM BA LLM (Hons) Retired Partner of national legal firm Clayton Utz. President Former Director of companies in the insurance, Member of Finance, reinsurance, manufacturing, industrial and Audit and Risk wholesaling sectors. Management Former President of UNICEF Australia. Committee. Former Chair and/or member of the governing bodies Chair of Trust Honours of, or adviser to, other not-for-profit organisations in Committee. the welfare, educational and sporting sectors.

Professor Ross BSc (Hons) PhD, Member of the Governing Council of the Smith Deputy President Griffith CText, FTI, M.A.A.F.S Family. (appointed 5 December Former Director of the Smith Family. 2012) Former Member, Academic Board, University of NSW. Member of Former Director Textile Academia (Switzerland) and Properties Committee. Chairman, Asia Pacific Zone. Member of S.H. Ervin Emeritus Professor – University of NSW and Adjunct Gallery Advisory Professor, RMIT University. Committee. Honorary Dean of Emeriti, UNSW. Chair of Governance Task Force

Neil Wykes OAM B Com, FCA, ACSA, General Manager, Audit and Risk, Ramsay Health Care Treasurer ACIS Limited. Chair of Finance, Audit International Vice President, Variety International, and Risk Management The Children’s Charity. Committee. Company Secretary, Variety Australia, The Children’s Charity. Chair of Audit and Risk Management Committee, Justice Health and Forensic Mental Health Network. Retired partner of international accounting firm Ernst & Young.

Pauline B. Bus, LLB (Hons). Senior Associate, Addisons. Member of Landscape Adraskelas Admitted as a Over 10 years’ experience in planning and Conservation solicitor of the environment law. Committee Supreme Court of NSW. Admitted as a solicitor of the Federal Court and the High Court of Australia.

5 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES (continued) 30 June 2015

Name Qualifications Experience Special responsibilities Elsa Atkin AM BA (Mac) Double Director TaikOz and Synergy Board 2013 – present. Member of S.H. Ervin Majors in Politics Director- The George Institute for Global Health Board Gallery Advisory and Public 2006-Present. Committee. Administration and Former member- State Library of NSW Board. French Literature Former member- Sydney Community Foundation Board. Former member - Sir John Monash Foundation NSW Selection Panel. Former member- Council of Advice, Western Sydney Graduate School of Management Board. Former Executive Director -National Trust Board. Former member- Heritage Council of NSW. Former member- University of Western Sydney Council- Nepean Campus. Former member- Reference Group for Government House, Sydney. Ronald Bottrill B Com, CPA, Deputy Chair of the After Hours Committee. Member of Finance, Member of the Institute of Company Directors Audit and Risk Sydney Inner West Rotary Membership and Public Management Relations Director. Committee. Former Chair of the After Hours Committee. Former Treasurer of the After Hours Committee. Former Executive Director of IOOF Trustees. Robyn Christie BA (Hons), BA Member of Australia COMOS. Member of S.H. (Architecture), MA Member of Museums Association. Ervin Gallery (Art History), M Associate Member of Professional Historians. Advisory Heritage Graduate member of Royal Australian Institute Committee. Conservation, Of Architects. Member of Master of President of Hunter’s Hill Trust. Museums & Architecture Member of Hunters Hill Council’s Conservation Collections Advisory Panel. Committee. Former Curator of S.H. Ervin Gallery. Former Assistant Director of Museum of Australian Childhood. Heritage contracts have included work at Susannah Place, Elizabeth Bay House, Juniper Hall, St Mary’s Cathedral and Central Railway Station. Kate BArtTh UNSW Head of Partnerships for TEDxSydney. Member Marketing Sub Dezarnaulds MA Art Business, Business Development & Marketing Consultant in the Committee. Sotheby's Institute, Cultural and Creative Industries. Member SH Irvin Gallery London Director Underbelly Arts. Committee. Former Director Art Month Sydney. Former Member of South Coast Tourism Board.

6 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES (continued) 30 June 2015

Name Qualifications Experience Special responsibilities Meredith Hutton BA, MA (Merit), Dip. Consultant Historical Archaeologist/Heritage Chair of Illawarra and 18 th & 19 th Century Consultant. Member of Wollongong Council Heritage Shoalhaven Branch. Decorative Arts Advisory Committee and the Old Court House Member of Honours Management Committee. Committee. Former Specialist Archaeologist for the Heritage Member of Collections Council of NSW & Secretary of the Heritage Council of Committee. NSW Archaeological Advisory Committee Former Member of Heritage Heritage Council representative on the MWS&DB. Awards Committee. liaison Committee, Former Convenor of the History Sub-committee of the University of Sydney Women’s College Summer School Committee. Alan Kerr FCA, CTA, AGIA, Principal of Alan Kerr & Co. Chair of Marketing BCom (NSW Retired partner of international accounting firm Committee. KPMG. Current Director of 5 Large Private companies. Former Senior Active Apexian. Former Vice chairman of Ku-ring-gai Life Education.

Dr Clive Lucas B.Arch., D.Sc. (Arch.) Restoration Architect and Consultant Clive Lucas. Member of the OBE (honoris causa) Stapleton and Partners Pty Ltd, Sydney. Collection Committee. Sydney Former Vice President of the National Trust. Member of the L.F.R.A.I.A, F.R.S.A Former Chairman and Trustee of the Historic Houses. Properties Committee. Trust of NSW. Former chairman Australia ICOMOS. Raj Nanda B.Ec, MBA, MAICD, Managing Director – Nanda Hobbs Contemporary. Member of Marketing NCJV (Fine Arts) Director – Bikes For Bush Foundation. Committee. Advisory Board – Creative Services Support Group. Advisory Board – Australian Institute of Technology and Management. Current Director of a number of Private companies. Keith Parsons B. Sc. Chair of the Newcastle City Council Strategic Heritage Chair of Hunter Regional Committee. Committee. Former Board Member of the Hunter Heritage Member of the Built Centre,. Newcastle Workers’ Health Centre and Heritage Conservation Newcastle. Regional Art Gallery Foundation. Committee. Former vice president of the Parks and Playgrounds Movement and Newcastle Gallery Society.

7 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) DIRECTORS’ QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES (continued) 30 June 2015

Name Qualifications Experience Special responsibilities Brian Powyer Bachelor of Arts Chair Parramatta Branch of National Trust. Chair Education Education B.A. (Ed) Chair Bidjigal Reserve Trust Board. Committee Graduate Diploma Chair Board of Parramatta College. Member Conservation Educational Chair Parramatta and District Historical Society. Policy Task Force Administration Secretary Institute of Senior Educational (Grad. Dip. Ed. Administrators. Admin) Secretary Parramatta Heritage Partners Group. Advanced Diploma Secretary Association of Retired Primary Principals. Tourism (Ad. Dip Secretary Excelsior Park Bushland Society. Tourism) Member Parramatta City Council Heritage Advisory Committee. Member The Hills Shire Council Bushland Conservation Committee Former Assistant Director Curriculum NSW Dept. Education John Richardson B Arch Director of Cox Richardson Architects. Member of Finance, Board Member of the Australian Services Round Audit and Risk Table. Management Former President of the Royal Australian Institute of Committee. Architects (NSW Chapter). Member of Properties Former Board Member, Board of Architects, NSW. Committee. Australian Institute of Steel Construction, Sydney Chair of the Harbour Design Review Panel and Sydney Cove Conservation Policies Authority. Task Force.

Brian Scarsbrick BA, Biological and Inaugural CEO and 20 years as CEO of Landcare Chief Executive Officer AM Earth Sciences Australia. Member of Finance, (Macq) Board Director Wetland Care Australia. Audit and Risk H.D.A Hawkesbury Board Director Carbon Smart. Management Agricultural College Member of the Interim Council of Freshwater Studies. Committee. Former District Agronomist with NSW Agriculture. Ex officio Member on all Regional Director of Agriculture and Fisheries. Trust Committees Churchill Fellowship to study Sustainable Agriculture. Ian Stephenson BA, Postgraduate Over 20 years experience in historic place Member of Saumarez Diploma in Museum management, heritage advocacy and museums Advisory Committee. Studies including involvement in historic building Chair of Properties management, advocacy, town planning issues, Committee. conservation planning, securing grant funding, implementing large scale works programs and liaising with Government Departments and members of Parliament. Trustee Copland Foundation. Former Trust Senior Curator. Former Director – Historic Places (National Trust of ACT) Former CEO of The National Trust of South Australia. University Curator at the University of New England.

NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

ABN 82 491 958 802

AUDITOR’S INDEPENDENCE DECLARATION

We declare that, to the best of our knowledge and belief, there have been no contraventions of any applicable code of professional conduct in relation to the audit of The National Trust of Australia (New South Wales) (the “Trust”) for the year ended 30 June 2015.

This declaration is in relation to the Trust and the entities it controlled during the year ended 30 June 2015.

Sydney, NSW HLB Mann Judd 30 September 2015 Chartered Accountants

NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

ABN 82 491 958 802

INDEPENDENT AUDITOR’S REPORT

To the members of National Trust of Australia (New South Wales):

We have audited the accompanying financial report of National Trust of Australia (New South Wales) (“the Trust”), which comprises the consolidated statement of financial position as at 30 June 2015, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration, for the consolidated entity. The consolidated entity comprises the Trust and the entities it controlled at the year’s end or from time to time during the year.

Directors’ Responsibility for the Financial Report The directors of the Trust are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Australian Charities and Not-for-profits Commission Act 2012 (“the Act”) and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In Note 1(a), the directors also state, in accordance with Accounting Standard AASB 101: Presentation of Financial Statements, that the consolidated financial statements comply with International Financial Reporting Standards.

Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Trust’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

Our audit did not involve an analysis of the prudence of business decisions made by directors or management.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

ABN 82 491 958 802

INDEPENDENT AUDITOR’S REPORT (continued)

Independence In conducting our audit, we have complied with the independence requirements of the Act.

Opinion In our opinion:

(a) the financial report of National Trust of Australia (New South Wales) is in accordance with Division 60 of the Australian Charities and Not-for-profits Commission Act 2012, including:

(i) giving a true and fair view of the Trust’s financial position as at 30 June 2015 and its performance for the year ended on that date; and

(ii) complying with Australian Accounting Standards and the Australian Charities and Not- for-profits Commission Regulation 2013 ; and

(iii) the financial statements also comply with International Financial Reporting Standards as disclosed in Note 1(a);

(iv) we have been given all information, explanation and assistance necessary for the conduct of the audit;

(v) the Trust has kept financial records sufficient to enable a financial report to be prepared and audited;

(vi) the Trust has kept other records as required by Part 3.2 of the Act.

(b) in accordance with the provisions of the Charitable Fundraising Act 1991 and the regulations thereto, any money received as a result of fundraising appeals conducted during the financial year has been properly accounted for and applied with the following provisions:

(i) the financial report and associated records have been properly kept during the financial year in accordance with the provisions of the Charitable Fundraising Act 1991 and the Regulations thereto; and (ii) at the date of this statement there are reasonable grounds to believe that the Trust will be able to pay its debts as and when they fall due.

Sydney, NSW HLB Mann Judd 30 September 2015 Chartered Accountant

11 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

DIRECTOR’S DECLARATION

DIRECTORS’ DECLARATION

In the opinion of the directors of The National Trust of Australia (New South Wales) (the ‘Trust): (a) the consolidated financial statements and notes set out on pages 14 to 36 are in accordance with the Australian Charities and Not-for-profit Commission Act 2012, including: (i) complying with Australian Accounting Standards, including the Australian Accounting Interpretations, and the Australian Charities and Not-for-profit Commission Regulation 2013; and (ii) giving a true and fair view of the consolidated entity’s financial position as at 30 June 2015 and of its performance, as represented by the results of its operations and its cash flows, for the financial year ended on that date; and (b) there are reasonable grounds to believe that the consolidated entity will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the directors.

Ian Carroll OAM Brian Scarsbrick AM President Executive Director

30 September 2015

12 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

PRINCIPAL OFFICER DECLARATION – CHARITABLE FUNDRAISING ACT 1991

I, Brian Scarsbrick, Executive Director of National Trust of Australia (New South Wales), declare that in my opinion:

(a) the financial statements give a true and fair view of all income and expenditure of the Trust with respect to fundraising appeals; and (b) the statement of financial position gives a true and fair view of the state of affairs of the Trust with respect to fundraising appeals; and (c) the provisions of the Charitable Fundraising Act 1991, the regulations under the Act and the conditions attached to the Authority have been complied with; and (d) internal controls exercised by National Trust of Australia (New South Wales) were appropriate and effective in accounting for all income received and applied from all fundraising appeals for the year ended 30 June 2015. (e) accounts and associated records have been appropriately kept during the year in accordance with this Act; and (f) there are reasonable grounds to believe the Trust will pay it’s debts as and when they become due and payable.

Brian Scarsbrick AM (Chief Executive Officer)

30 September 2015

13 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2015

2015 2014 Notes $ $

Bequests 2,419,169 350,117 Bushland management income 1,377,472 1,084,272 Conservation services 190,161 135,334 Donations 19 553,997 671,167 Enterprises 739,034 656,152 Fundraising and event income 820,031 1,215,278 Grant revenue 3 791,915 784,628 Investment income 604,109 357,986 Membership income 646,264 688,403 Merchandising 636,814 892,110 Museum visitation income 660,737 586,065 Sponsorships 3,500 21,800

Total revenue 9,443,203 7,443,312

Gain on revaluation of investments 7 443,670 382,913

Total other income 443,670 382,913

ACNT levy 52,475 49,333 Advertising and promotion 63,784 75,504 Audit and accounting fees 18 45,950 66,500 Bushland management – employee costs and expenses 893,663 711,370 Cost of merchandising 435,855 590,701 Depreciation 8 102,769 123,878 Employee costs and expenses 3,126,241 2,888,379 Event expenses 489,782 546,750 Insurances 197,230 214,950 Legal and consultancy fees 161,980 147,948 Other office and administration 455,611 420,130 Postage and printing 214,035 257,618 Repairs and maintenance 1,129,243 1,052,156 Utilities and rates 209,403 254,536

Total expenses 7,578,021 7,399,753

Surplus (deficit) for the year 2,308,852 426,472

Other comprehensive income - -

Total comprehensive income 2,308,852 426,472

The accompanying notes form an integral part of these consolidated financial statements.

14 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 JUNE 2015

2015 2014 Notes $ $

Cash & cash equivalents 12(a) 331,655 73,174 Cash – Heritage Foundation 4 24,953 9,726 Cash – restoration appeals 13 2,782,899 2,412,640 Receivables 5 651,787 372,421 Prepayments 213,259 121,079 Inventories 6 203,388 201,243

Total current assets 4,207,941 3,190,283

Other financial assets 7 11,384,568 9,381,968 Property, collections and equipment 8 51,798,857 51,368,235

Total non-current assets 63,183,425 60,750,203

Total assets 67,391,366 63,940,486

Accounts payable 956,025 584,435 Deferred income & unexpended grants 9 893,304 579,291 Employee entitlements 10 535,677 480,195 Restoration appeals 13 2,782,899 2,412,640

Total current liabilities 5,167,905 4,056,561

Deferred income 9 88,296 81,264 Employee entitlements 10 108,997 85,345

Total non-current liabilities 197,293 166,609

Total liabilities 5,365,198 4,223,170

Net assets 62,026,168 59,717,316

Retained surplus 24 25,728,832 23,419,980 Reserves 24 36,297,336 36,297,336

Total accumulated funds 62,026,168 59,717,316

The accompanying notes form an integral part of these consolidated financial statements.

15 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

CONSOLIDATED STATEMENT OF CHANGES IN ACCUMULATED FUNDS FOR THE YEAR ENDED 30 JUNE 2015

Restricted Unrestricted Retained Reserves Total Funds Surplus Surplus Surplus $ $ $ $

Total accumulated funds at 30 June 2013 2,642,300 20,351,208 22,993,508 36,297,336 59,290,844

Surplus for the year ended 30 June 2014 317,949 108,523 426,472 - 426,472

Total accumulated funds at 30 June 2014 2,960,249 20,459,731 23,419,980 36,297,336 59,717,316

Surplus for the year ended 30 June 2015 357,636 1,951,216 2,308,852 - 2,308,852

Total accumulated funds at 30 June 2015 3,317,885 22,410,947 25,728,832 36,297,336 62,026,168

The accompanying notes form an integral part of these consolidated financial statements.

16 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2015

2015 2014 Notes $ $

Cash flows from operating activities

Cash receipts in the course of operations 7,186,428 7,629,493 Bequests Received 2,419,169 350,117 Cash payments in the course of operations (7,693,988) (8,001,853) Interest received/(paid) 32,586 144,873

Net cash inflows/(outflows) from operating activities 12(b) 1,944,195 122,630

Cash flows from investment activities

Proceeds on withdrawal of investments 678,411 - Payments for property, plant & equipment (533,391) (164,625) Acquisition of investments (1,830,734) (4,808,265) Placement of restricted funds - 2,990,303

Net cash inflows/(outflows) from investing activities (1,685,714) (1,982,587)

Net increase/(decrease) in cash & cash equivalents 258,481 (1,859,957) Cash & cash equivalents at the beginning of the financial year 73,174 1,933,131

Cash & cash equivalents at the end of the financial year 12(a) 331,655 73,174

The accompanying notes form an integral part of these consolidated financial statements.

17 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies have been applied in the preparation of these consolidated financial statements. These policies have been applied consistently to all the years presented. These financial statements are for the consolidated entity consisting of National Trust of Australia (New South Wales) (the “Trust”) and the entities it controls.

(a) Basis of Preparation

The National Trust of Australia (New South Wales) is a statutory body and a statutory corporation constituted by the National Trust of Australia (New South Wales) Act 1990 (“the National Trust Act”).

These general purpose financial statements have been prepared in accordance with Australian Accounting Standards (“AASBs”), Australian Accounting Interpretations, other authoritatives pronouncements of the Australian Accounting Standards Board, the Australian Charities and Non- for-profits Commission Act 2012 and the National Trust Act and Rules. They have been prepared on the basis of historical costs and do not take into account changing money values or, except where stated, current valuations of non-current assets.

Statement of Compliance The financial statements and notes comply with International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board (“IASB”).

(b) Principles of Consolidation

The consolidated financial statements incorporate the assets and liabilities of the Trust and the entities it controls as at 30 June 2015 and the results of all such entities for the year then ended. The Trust and the entities it controls together are referred to in these financial statements as the group or the consolidated entity.

The Trust controls entities when the Trust is exposed, or has rights, to variable returns from the investee and has the ability to effect those returns through its power over the investee.

Controlled entities are fully consolidated from the date on which control is transferred to the group. They are de-consolidated from the date that control ceases.

Intercompany transactions, balances and unrealised gains on transactions between group entities are eliminated.

On 19 March 2013 the group formed a company limited by guarantee (“the Trustee”) and two Trusts, for the purpose of raising contributions and investing and limiting the distribution of revenues from the sale of properties and fundraising. These entities are consolidated, as the substance of the relationship is that the entities are controlled by the Trust. Refer note 23.

Sales Revenue: Sales revenue comprises revenue earned (net of returns, discount and allowances) from the provision of products or services to customers. Sales revenue is recognised when the goods are provided, or when the fee in respect of services provided is receivable.

Revenue: Interest income and rent are recognised as they accrue.

18 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015 (continued)

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Donations/Bequests: Donations/bequests are recognised when received.

Membership Subscriptions: One year subscriptions are recognised when received.

Three year subscriptions are treated as annual subscriptions paid in advance; the first annual subscription is recognised when due with the remainder in advance being deferred to be recognised on the subsequent anniversary of the membership due date until the deferred amount is fully utilised.

Other Revenue: Revenue recognition policies for grants and investments are described in Accounting Policy notes (d) and (g) respectively.

(d) Grants

Both specific and general purpose grants are recognised as revenue when due and receivable.

If all funds received in respect of any grant that is refundable are not spent in the financial year of receipt, the unspent portion is carried forward as a liability until the grant is fully expended.

(e) Taxation

The Trust has been granted exemption from: • Income tax; • Payroll tax; • Land tax; and • Stamp duty.

The Trust is listed by name as a Deductible Gift Recipient covered by item 1 of the table in section 30-15 of the Income Tax Assessment Act 1997 .

(f) Receivables

Trade debtors and other receivables are carried at amounts due. The collectability of debts is assessed at balance date and a specific provision is made for any doubtful debts.

(g) Financial Assets at Fair Value through Profit or Loss

Financial assets at fair value through profit or loss are initially recorded at cost, and subsequently carried at market value, with changes in value recorded in profit or loss.

Distributions are recognised as revenue as at the date the distribution is declared and share dividends are recognised when received.

19 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015 (continued)

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(h) Land, Buildings and Collections

Land and Buildings: Freehold land and buildings are recorded at cost, or at valuation when received by way of bequest.

In certain instances, the Trust obtains an economic benefit from the use of land and buildings that are not owned by it but are held by it on behalf of the owner. Where a right to use such land and buildings vests, the Trust holds the land and buildings as custodian.

Improvements to land and buildings are recorded at cost (including assets revalued prior to 1 July 2000 which are now deemed to be at cost in accordance with AASB 1041 Revaluation of Non- Current Assets , which was applied at that time).

If land and/or buildings are sold, the effective date of sale for accounting purposes is the date on which the transaction is settled.

Collections: Museum collections are carried at fair value. Independent valuations are undertaken from time to time and are considered by the Directors when determining fair value.

(i) Depreciation

Plant, Equipment and Furniture: Items of plant, equipment and furniture are depreciated on a straight line basis over their estimated useful lives. Assets are depreciated from the date of acquisition. The range of useful lives used is 3 to 20 years, represented by the following depreciation rates:

Computers and related technology based equipment 33.3% Plant and other general equipment – heavy use 33.3% Plant and other general equipment – moderate use 20.0% Plant and other general equipment – light use 6.6% Motor vehicles 20.0% Furniture & fittings 5.0% - 10.0% Non-heritage buildings 5.0%

Historic Buildings and Collections: Due to the historic nature of the Trust's buildings and collections, no depreciation expense is charged in respect of these assets.

Operating Leases: Payments made under operating leases are expensed on a straight line basis over the term of the lease.

(j) Payables

Liabilities are recognised for amounts to be paid in the future for goods and services received. Trade accounts payable are normally settled within the payment terms.

20 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015 (continued)

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(k) Inventories

Inventories are carried at the lower of cost and net realisable value.

(l) Employee Entitlements

Wages, Salaries and Annual Leave: Liabilities for employee entitlements to wages, salaries and annual leave represent present obligations resulting from employees’ services provided up to the reporting date, calculated at amounts based on expected future wage and salary rates including related on-costs.

Long Service Leave: The liability for long service leave expected to be settled within 12 months of the reporting date is recognised and measured in accordance with “annual leave” above, including on-costs.

The liability for long service leave expected to be settled more than 12 months from the reporting date, including on-costs, is recognised, and is measured based on remuneration rates current as at balance sheet date for all employees with five or more years of service. The Directors believe that this method provides an estimate of the liability that is not materially different from the estimate that would be obtained by using the present value basis of measurement.

(m) New Accounting Standards & Interpretations

Certain new accounting standards and interpretations have been published that are not mandatory for the 30 June 2015 reporting period. The Directors’ assessment of the impact of these new standards and interpretations is that they will result in no changes to the amounts recognised or disclosed in future financial statements.

NOTE 2: LONG TERM VIABILITY/GOING CONCERN

The consolidated financial statements have been prepared on a going concern basis.

The Trust’s consolidated financial statements show that at 30 June 2015 the group had consolidated net assets of $62.0 million (2014: $59.7 million), earned a surplus for the year of $2,308,852 (2014: $426,472), and at 30 June had Current Assets (excluding Cash – Restoration Appeals) of $1,547,585 (2014: $734,934) and Current Liabilities (excluding Restoration Appeals and Deferred income and unexpended grants of $1,491,702 (2014: $1,021,921).

Included as Non-Current assets are “Other Financial Assets” of $11.4 million, which consists of highly liquid investments, which can be used in the management of cash flows of the group, should this be required, $7.2 million of that amount is restricted, as outlined in Note 7.

21 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015 (continued)

2015 2014 NOTE $ $

NOTE 3: GRANT INCOME

Federal Government Grants: Department of Environment 434,478 -

State Government Grants NSW Heritage Branch – Department of Planning 232,076 600,000 NSW Office of Communities – Community Building Partnership 5,764 5,987 Department of Education and Communities – Community Building Partnership 34,311 - Arts NSW 12,908 54,906 Federal Department of Veterans’ Affairs 2,802 -

287,861 660,893

Other Grants 69,576 123,735

Total Grant Income 791,915 784,628 Refer to pages 44 to 45 for an unaudited detailed list of 2015 grant income.

NOTE 4: CASH – HERITAGE FOUNDATION

Restricted cash held in the Heritage Foundation 24,953 9,276

NOTE 5: RECEIVABLES

Current Trade debtors 438,612 228,808 Other debtors – investments income 116,672 59,992 Other debtors – insurance claims 20,741 41,719 Other debtors – GST recoverable 51,055 1,003 Other debtors – accrued income 19,837 40,206 Other debtors 4,870 693

651,787 372,421

NOTE 6: INVENTORIES

Inventories – at cost 203,388 201,243

22 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015 (continued)

2015 2014 NOTE $ $

NOTE 7: OTHER FINANCIAL ASSETS

Other financial assets designated as at Fair Value through profit or loss Funds under management 11,384,568 9,381,968

Movements: Opening balance 9,381,968 3,977,678 Withdrawals from investments (678,411) - Cash transferred into investments 1,830,734 4,808,266 Interest and dividend income reinvested 406,607 213,111 Revaluation of investments to market value 443,670 382,913

Closing balance 11,384,568 9,381,968

Fair value of financial instruments The following table shows financial instruments recorded at fair value, showing those whose value is based on quoted prices in active markets (Level 1), and those involving inputs other than quoted prices included within Level 1 that are observable in active markets (Level 2).

Level 1 Level 2 Total Valued at Valuation Quoted Technique, Market Market Price Observable $ $ $

Listed on ASX Australian shares 4,299,062 - 4,299,062 Australian fixed interest securities 1,455,887 - 1,455,887 Australian listed property trusts 1,087,605 - 1,087,605

Unlisted International funds - 1,805,678 1,805,678 Australian fixed interest securities funds - 1,307,338 1,307,338

Total financial instruments 6,842,554 3,113,016 9,955,570

Cash 1,428,998

Total other financial assets 11,384,568

23 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015 (continued) NOTE 7: OTHER FINANCIAL ASSETS (continued)

Statement of changes in other financial assets Golden Vale S. H. Ervin Wirrimbirra Hazel Butler Estate Havelberg Heritage Total Unrestricted Total Other Fund (Dew Sisters) Porter’s Motor Estate Foundation Restricted Other Financial House Vehicle Fund Other Financial Assets Financial Assets $ Assets Balance at 30 June 2013 828,032 510,890 281,238 115,124 907,015 - - 2,642,299 1,335,379 3,977,678 Additions ------3,008,222 3,008,222 1,800,044 4,808,266 Income received 46,659 28,788 15,848 6,487 30,556 - 55,928 184,266 75,293 259,559 Revaluation 71,522 44,129 24,292 9,944 62,197 - 55,485 267,569 115,344 382,913 Expenses deducted (95,752) (38,134) - - - - - (133,886) 87,438 (46,448) Withdrawals ------

Movement for the year 22,429 34,783 40,140 16,431 92,753 - 3,119,635 3,326,171 2,078,119 5,404,290

Balance at 30 June 2014 850,461 545,673 321,378 131,555 999,768 - 3,119,635 5,968,470 3,413,498 9,381,968 Additions - - - - - 1,128,837 - 1,128,837 701,897 1,830,734 Income received 45,311 29,072 17,122 7,009 51,883 34,623 118,698 303,718 181,863 485,581 Revaluation 38,828 24,913 14,673 6,006 43,349 15,700 144,354 287,823 155,847 443,670 Expenses deducted (89,922) (143,983) - - - - - (233,905) 154,931 (78,974) Withdrawals ------(178,411) (178,411) (500,000) (678,411)

Movement for the year (5,783) (89,998) 31,795 13,015 95,232 1,179,160 84,641 1,308,062 694,538 2,002,600

Balance at 30 June 2015 844,678 455,675 353,173 144,570 1,095,000 1,179,160 3,204,276 7,276,532 4,108,036 11,384,568

24 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 7: OTHER FINANCIAL ASSETS (continued)

Golden Vale The Golden Vale fund was established in November 2007 after the subdivision and sale of a parcel of land adjacent to the residence at Golden Vale, which was permitted under a Deed of Gift from The Honourable William Geoffrey Keighley and Karin Margot Spiegel-Keighley. The proceeds of the sale were to be invested for the purpose of funding the maintenance of the residue of Golden Vale.

S. H. Ervin Fund The S. H. Ervin fund was established in July 1973 on receipt of a bequest from Samuel Henry Ervin. The funds were to be used to renovate, restore and maintain a Museum and Art Gallery for the preservation and display of works of art.

Wirrimbirra (Dew Sisters) The Wirrimbirra (Dew Sisters) fund was established in June 2007 on receipt of a bequest from Alice Dew. These funds were to be spent on an accommodation building for students at Wirrimbirra named as a memorial to Barbara Dew.

Hazel Porter’s House The Hazel Porter’s House fund was established in February 1998 on receipt of a bequest from Hazel Mildred Porter. The Will directed that the property at 434 Kings Street Newcastle be preserved for the benefit of the public.

Butler Estate Motor Vehicle Fund The Butler Estate Motor Vehicle Fund was established in May 2009 on receipt of a bequest from Paul William Butler. These funds were to be used to make grants for the purpose of either: public exhibition of vintage and veteran cars or the preservation and restoration of vintage and veteran cars for the purpose of public exhibition, or education or research into vintage and veteran cars. Grants for both purposes are to be used within New South Wales.

Heritage Foundation The proceeds or part thereof from the sale of Trust properties are placed in the Heritage Foundation in order to build a capital fund to support the work of the Trust.

Havelberg Estate Havelburg Estate was established on the 14 November 2014 on the receipt of a bequest from Dean Donald Havelburg. The funds will be used to renovate, restore and maintain Cooma Cottage and Harper’s Mansion.

Unrestricted Other Financial Assets This amount represents the funds of the consolidated entity that are not designated for particular purposes

25 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

2015 2014 NOTE $ $

NOTE 8: PROPERTY, COLLECTIONS AND EQUIPMENT

Property: Freehold land and buildings – at cost 25,837,430 25,551,829 Held as custodian 3,127,143 3,127,143

28,964,573 28,678,972

Collections: At fair value 22,464,176 22,464,176

Equipment & furniture: Equipment and furniture at cost 1,684,320 1,436,530 Less accumulated depreciation (1,314,212) (1,211,443)

370,108 225,087

Total property, collections and equipment at net book value 51,798,857 51,368,235

Property: Freehold land and buildings Carrying amount at the beginning of the year 25,551,829 25,436,236 Additions 285,601 115,593 Disposals - -

Carrying amount at end of the year 25,837,430 25,551,829

Held as custodian Carrying amount at the beginning of the year 3,127,143 3,127,143

Carrying amount at the end of the year 3,127,143 3,127,143

Collections: Carrying amount at the beginning of the year 22,464,176 22,464,176

Carrying amount at the end of the year 22,464,176 22,464,176

Equipment & Furniture: Carrying amount at the beginning of the year 225,087 299,934 Additions 247,790 49,031 Disposals - - Depreciation – charge for year (102,769) (123,878)

Carrying amount at the end of the year 370,108 225,087

26 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

2015 2014 NOTE $ $

NOTE 9: DEFERRED INCOME AND UNEXPENDED GRANTS

Current: Membership 175,193 178,566 Other 281,971 157,151 Unexpended Grants 17,21 436,140 243,574

893,304 579,291

Non-current: Membership 88,296 81,264

NOTE 10: EMPLOYEE ENTITLEMENTS

Current: Long service leave 201,378 176,381 Annual leave 312,128 297,058 Other employee benefits 22,171 6,756

535,677 480,195 Non-current: Long service leave 108,997 85,345

NOTE 11: RELATED PARTIES

Transactions between related parties are on normal commercial terms and conditions unless otherwise stated.

(a) Directors

The names of those who served as Directors on the Board of the Trust during the 2015 financial year were as follows:

Non-Executive Directors

Ian Carroll OAM, President Meredith Hutton Professor Ross Griffith, Deputy President Alan Kerr Neil Wykes OAM, Treasurer Dr Clive Lucas Pauline Adraskaslas (appointed 29 November2014) Raj Nanda (appointed 27 August 2014) Elsa Atkin AM (until 22 January 2015) Keith Parsons Ronald Bottrill (until 29 November 2014) Brian Powyer (appointed 28 January 2015) Robyn Christie (until 1 July 2014) John Richardson Kate Dezarnaulds (appointed 30 July 2014) Ian Stephenson No compensation was received by any non-executive Director.

27 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 11: RELATED PARTIES (continued)

(a) Directors (continued)

Executive Director

Brian Scarsbrick AM

All Directors were in office the whole of the year, unless otherwise stated.

Other relevant information regarding attendance at meetings, resignations and retirements of Directors is contained in the Directors’ Report.

(b) Key Management personnel compensation

The key management personnel (“KMP”) are the Executive Director and Senior Managers of the Trust who are responsible for the management of the consolidated entity. The remuneration for the Executive Director and other key management personnel is set out below.

Year No. of KMP who Short-term Post-employment Total served during the employee benefits benefits year $ $ $

2015 5 711,908 - 711,908 2014 6 463,739 - 463,739

Details of the key management personnel who served during the year are provided below

Years as key Name Position management personnel Brian Scarsbrick AM Executive Director 4* Graham Quint Director, Advocacy 1 Richard Slink Director, Trust Properties 1 Thambipllai Somavarman Director, Finance 1 Anne Weinman Director, HR & Enterprises 1

*Brian Scarsbrick AM previously served as Director of the Natural Heritage for 1 year.

(i) Donations Certain Directors made donations to the Trust during the year.

(ii) Directors’ Memberships All Directors are financial members of the Trust and have been so during the entire year covered by these financial statements.

28 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

2015 2014 NOTE $ $

NOTE 12: NOTES TO STATEMENT OF CASH FLOWS

(a) Reconciliation of cash Cash & cash equivalents 331,655 73,174

(b) Reconciliation of surplus/(deficit) for the year to net cash provided by (used in) operating activities Surplus/(deficit) for the year 2,308,852 426,472 Depreciation and amortisation 102,769 123,878 (Gain)/loss on investments (443,670) (382,913) (Increase)/decrease in receivables (279,366) 165,743 (Increase)/decrease in inventories (2,145) 3,974 (Increase)/decrease in prepayments (92,180) (52,277) (Increase)/decrease in investments (421,834) (213,112) (Decrease)/increase in payables 371,590 107,882 (Decrease)/increase in deferred income and unexpended grants 321,045 (100,006) (Decrease)/increase in provisions 79,134 42,989

Net cash provided by/(used in) operating activities 1,944,195 122,630

NOTE 13: RESTORATION APPEALS

The consolidated entity conducts appeals in support of local organisations for the conservation of places and items classified by the consolidated entity to enable to achieve of the objective of the consolidated entity. Though conducted by and through the consolidated entity these appeals are in support of heritage places and items owned by other parties. For this reason these monies are held separately by the consolidated entity. 2,782,899 2,412,640

29 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 13: RESTORATION APPEALS (continued)

RESTORATION APPEAL - DETAIL

These amounts are set out below and are included in the Consolidated Statement of Financial Position. Administration fees are earned by the Trust from these appeals and any amount unspent in the appeal is retained by the Trust. The consolidated statement of financial position includes a liability to pay these amount to third parties.

2015 2014 RESTORATION APPEAL ACCOUNTS $ $

All Saints Anglican Parish – Hunters Hill 13,367 10,578 All Saints Anglican Church – Woollahra 18,682 10,215 The Barn (Scout Hall) Mosman Conservation Appeal - 4,029 Camperdown Cemetery Trust 608 556 The Riverine Club – Wagga Wagga 1,434 3,136 Christ Church Cathedral – Newcastle 538,588 75,682 Dalwood Restoration Appeal 193,189 152,011 Gundagai Historic Bridge Account (IBD) 83,205 80,000 Ramsay Graveyard Restoration Appeal 8,752 8,194 Rose Cottage – Wilberforce 11,751 11,813 St Canice’s Church – Double Bay 99 1,529 St John’s Anglican Church Group – Stroud 6,069 5,779 St John’s Church – Newcastle 3,014 3,005 St Jude’s Anglican Church – Randwick 73,559 107,593 St Luke’s Anglican Church – Gulgong 1 1 St Mark’s Anglican Church – Darling Point (account 1) 194,726 164,074 St Mark’s Anglican Church – Darling Point (account 2) 16,076 20,372 St Marys – Newcastle Conservation Appeal 101,107 374 St Matthew’s Church – Albury 11,809 9,386 St Michael’s Anglican Church – Wollongong 35,388 32,093 St Paul’s Church – Camden Conservation Appeal 51,882 - St Peter’s Anglican Church – Campbelltown 2,572 48,962 St Peter’s – North Sydney Appeal Account 13,314 2,402 Kiama Restoration Appeal 8,452 9,469 St Thomas’ Anglican Church – North Sydney 107,718 79,916 Holy Trinity Church Conservation Appeal – Appeal Account 91,802 153,859 Holy Trinity Church Conservation Appeal – Business Reserve Account 28,832 95,435 Ventnor House Appeal – Randwick 9,821 10,288 St Michael’s Anglican Church – Vaucluse Conservation Appeal 104,000 96,300 St Thomas’ Anglican Church – Port Macquarie 1,083 1,038 Rookwood Jewish Cemetery Appeal Rookwood 30,234 30,149 St Marys Cathedral – Sydney – CBA Acct 196,832 123,169

30 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 13: RESTORATION APPEALS (continued)

2015 2014 RESTORATION APPEAL ACCOUNTS (continued) $ $

Ebenezer Church Appeal Committee – TERM DEP 94,354 105,841 St John’s Anglican Church – Moruya Westpac ACT 50,000 31,858 St Peter & Paul’s Old Cathedral Restoration Appeal 6,872 12,101 Adelong Falls Conservation Appeal 4,459 4,447 Hunter Baillie Memorial Presbyterian Church 37,681 29,268 St John’s Anglican Church – Wagga Appeal 3,288 3,285 St John’s Church of England – Darlinghurst Restoration Appeal 1,329 1,326 St Andrew’s Anglican Church – Summer Hill 8,498 6,003 St James’ Church – King St. Conservation Appeal 10,628 17,666 St Andrew’s Church – Newcastle Restoration Appeal 58,277 58,119 Cathedral Restoration Fund St Saviours Goulburn 110,079 58,626 St Stephen’s Uniting Church – Macquarie St 10,135 21,097 Gresford & Paterson Anglican Churches – Paterson 295 2,293 Friends of Athenium Theatre and Cultural Centre Inc 1,350 2,518 Roman Catholic Cathedral Bathurst Restoration 125,225 78,483 St Anne’s Anglican Church – Strathfield 22,786 24,546 All Saint’s Church – Woollahra Term Deposit 85,391 82,132 Cherrybrook Uniting Church Restoration Appeal 26,286 13,371 Hunter Baillie Presbyterian Ch Annandale 53,926 52,128 Hunter Baillie Presbyterian Ch Annandale 53,926 52,128 Hunter Baillie Presbyterian Ch Annandale 32,356 31,277 Ebenezer Church 20,684 13,281 All Saints Anglican church North Parramatta Restoration Appeal 5,645 5,085 Sacred Heart Church Moruya Restoration Appeals 21 4,647 St Marys Roman Catholic Church Restoration Appeals 1,442 346,946 St John’s Anglican Church Windsor Restoration Appeals - 196 The Great Synagogue of Sydney Conservation Appeal - 2,565

2,782,899 2,412,640

NOTE 14: SUPERANNUATION

The consolidated entity contributes to employee superannuation funds as required under the Commonwealth Government’s Superannuation Guarantee Legislation.

NOTE 15: CAPITAL MANANGEMENT

Capital available to the consolidated entity at the end of the financial year is represented by its total accumulated funds, being Retained Surplus and Reserves. The Board manages these funds through the use of budgets and regular forecasts and with the assistance of the Finance, Audit and Risk Management Committee with the objective of ensuring that there are always sufficient reserves to pay debts and to continue the growth of the consolidated entity.

31 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 16: RISK MANANGEMENT AND ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURE

(a) Interest rate risk The consolidated entity is exposed to interest rate risk in relation to its cash & cash equivalents, and also in relation to other financial assets.

Interest rate on cash & cash equivalents at 30 June 2015 was 0.00% (2014: 0.00%).

(b) Credit risk The credit risk on financial assets is the carrying amount net of any provision for doubtful debts.

The consolidated entity is not materially exposed to any individual debtor as at 30 June 2015.

The consolidated entity has regular monthly procedures for the collection of debts.

(c) Liquidity risk This is the risk that the consolidated entity will not be able to convert its financial instruments (Other Financial Assets) to cash in sufficient time to pay its debts as they fall due. The consolidated entity manages liquidity risk by monitoring forecast cash flows and ensuring that adequate liquid funds or an overdraft facility are available to meet operating expenses when they fall due. When necessary, cash is sourced from the liquidation of financial assets.

(d) Other market risk In addition to the effects of movements in interest rates, investments in managed funds are exposed to market risks, influencing investment earnings.

These market risks are minimised through the selection of a high quality fund manager and with investment in a moderate risk profile and a diversified asset allocation.

2015 2014 NOTE $ $

NOTE 17: COMMITMENTS

(a) Operating leases commitments Commitments for minimum lease payments on office equipment are payable as follows: Within one year 40,998 40,992 Later than one year but no later than five years 15,498 105,312

56,496 146,304

(b) Capital commitments Unexpended Grants 9, 21 436,140 243,574

32 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

2015 2014 NOTE $ $

NOTE 18: AUDITOR’S REMUNERATION

Audit Services Audit of the consolidated entity 45,950 66,500

45,950 66,500

NOTE 19: CHARITABLE FUNDRAISING ACT

The consolidated entity had various fundraising avenues during the year:

Cost to Net Surplus Income Cost Net Surplus income to income $ $ $ % $

Membership/Benefactor donations 78,998 - 78,998 0% 100% Museums, Galleries & Committees 129,731 - 129,731 0% 100% Regular Giving 61,612 17,174 44,438 -28% 72% Join us in a new era for National Trust (NSW) Appeal 48,015 1,898 46,117 -4% 96% Bushfire Appeal 1,500 - 1,500 0% 100% Late Barbara Webb Estate Fund 233,065 - 233,065 0% 100% Others 1,076 - 1,076 0% 100%

553,997 19,072 534,925 -3% 97%

Memberships/donations and museums, galleries & committees give Members and the public an opportunity to make unsolicited donations towards the consolidated entity’s activities.

Application of Funds:

Membership/Benefactor donations 78,998 Funds from fundraising activities are used by the consolidated entity to fund its operating activities. The difference between Museums, Galleries & Committees 129,731 the total amount raised by each appeal and the amounts Regular Giving 44,438 shown above against each appeal is the amount donated to the Trust "where the Trust needs it most". Defending our Heritage Fund Appeal 46,117 Funds raised have been applied to the Trust to be used in the "Defending our Heritage Campaigns". Bushfire Appeal 1,500 Funds raised have been applied to the Trust to be used for "Bushfire affected National Trust Properties". Late Barbara Webb Estate Fund 233,065 Fund was received from late Barbara Webb Estate for the refurbishment of the Dundullimal function centre.

2015 2014

$ $

Total funds held for future application 186,098 186,098 Refer to page 48 for unaudited list of funds held for future application

33 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 20: OTHER INFORMATION

Registration The Trust is exempt from the need to obtain an authority to fundraise under section 9(3)(b) of the Charitable Fundraising Act.

Additional Information to Members Supplemental schedules in respect of these financial statements have been made available to help members better understand the financial position of the consolidated entity.

The supplemental schedules on pages 37 to 48 do not form part of the audited financial statements.

NOTE 21: UNEXPENDED GRANTS

Balance at 1- Balance at Jul-14 Receipts Expenditure 30-Jun-15 Grant Details $ $ $ $

American Express Partners in Preservation 101,908 - - 101,908 Montague Island Lighthouse Museum Interpretation 7,306 - - 7,306 Woodford Academy Water Grant 38,797 - (16,731) 22,066 Macquarie’s Mausoleum Isle of Mull 20,536 - (1,863) 18,673 Conservation Donation Account 2,485 - - 2,485 S.H. Ervin Gallery Australian Council for Arts 35,000 - (31,482) 3,518 Creation of Centre for School Field Studies 270 - (270) - Erect a memorial to the victims of the attack on the Picnic Train at Broken Hill on 1 January, 1915 5,000 - (4,025) 975 Woodford Academy – Aboriginal place encountering and interpreting at Woodford Academy 25,000 - (13,238) 11,762 Photography Grant Miss Porters House 1,508 (1,508) - Wall paper replacing Grant MTH 5,764 - (5,764) - SH Ervin Gallery Margaret Olly Art Trust - 75,000 - 75,000 Norman Lindsay Gallery -Foundation for Rural and Regional Renewal-volunteers in collection preservation and disaster planning - 10,300 - 10,300 Pilot Trial of eHive at Miss Traill's House - 5,710 - 5,710 Ian Potter Foundation - Children Education Programme at Everglades - 25,000 - 25,000 Woodford Academy - ANZAC Centenary Local Grants Program - 3,513 - 3,513 NSW Office of Environment & Heritage - Heritage Branch - 225,000 (82,076) 142,924 Old Government House - 2015 PCC Community Grant - "Tails of India" project - 5,000 - 5,000

243,574 349,523 (156,957) 436,140

34 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 2015 2014 $ $

NOTE 22: PARENT ENTITY FINANCIAL INFORMATION

The parent entity of the group is The National Trust of Australia (New South Wales). The individual financial statements for the parent entity show the following aggregate amounts.

Financial position of the parent entity at year end Current assets 4,143,733 3,166,366 Total assets 64,122,882 60,796,890 Current liabilities 5,146,295 3,985,095 Total liabilities 5,343,588 4,151,704

Net assets 58,779,294 56,645,186

Total equity of the parent entity comprises Reserves 36,297,336 36,297,336 Retained surplus 22,481,958 20,347,850

Total equity 58,779,294 56,645,186

Results for the parent entity Total surplus for the year for the consolidated entity 2,308,852 426,472 Less total surplus attributable to the subsidiary trusts 23 (296,304) (138,567) Trust entitlement to 80% of the income of the subsidiary trusts 121,560 66,466 Surplus attributable to the Trust 2,134,108 354,371 Other comprehensive income - -

Total comprehensive income for the year attributable to the Trust 2,134,108 354,371

NOTE 23: CONTROLLED ENTITITES

As part of the long term funding strategy of the Trust, to preserve capital contributions received from third parties and to preserve part of the proceeds from the sale of Trust properties, a new structure was set up consisting of a trustee company and two trusts.

The following entities became controlled entities of the Trust from 19 March 2013: • The National Trust of Australia (NSW) Heritage Foundation Ltd (“Trustee”); • National Trust of Australia (NSW) Heritage Foundation Trust (“Heritage Foundation”); • National Trust of Australia (NSW) Heritage Foundation Ancillary Trust (“Ancillary Trust”).

The Heritage Foundation and The Ancillary Trust are referred to here as “subsidiary trusts”.

The Trustee is responsible for governing the day to day activities of the two subsidiary trusts, with a board of up to 7 members, a majority of who must be directors of the Trust. The Chairman of the Trustee is to be independent of the board of the Trust. The directors of the Trustee are appointed by the Board of the Trust.

35 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

NOTE 23: CONTROLLED ENTITITES (continued)

The objects of the subsidiary trusts are to pursue charitable purposes only and to apply the income and property of the subsidiary trusts however derived: (a) Solely to the Trust; or (b) Otherwise for the benefit or advancement of the objects of the Trust, if approved by a special resolution of the Trustee.

As a consequence, these three entities are controlled entities of the Trust.

The trust deeds of the Heritage Foundation and Ancillary Trust set out the day to day activities, including the investment activities of the subsidiary trusts as well as the amount of income and capital the subsidiary trusts can distribute.

The amount of income that can be distributed each year is as follows: (i) The subsidiary trusts can automatically distribute 80% of income to the Trust to be used in day to day activities; and (ii) The subsidiary trusts can distribute the remaining 20% only if the capital base has been augmented by an amount equal to the 20%.

The amount of capital the subsidiary trust can distribute in any one year is 5% of the capital base. However, approval of any capital distribution requires approval from at least 75% of Directors of the Trustee and 75% of Directors of the Trust.

The directors of the Trustee at the date of this report are: Mr Robert Elliott – Independent Chair Mr William d’Apice – Independent Director Mr Ian Carroll OAM – National Trust of Australia (New South Wales) Director Mr Neil Wykes OAM – National Trust of Australia (New South Wales) Director Mr Brian Scarsbrick AM – National Trust of Australia (New South Wales) Executive Director

NOTE 24: SURPLUSES AND RESERVES

(i) Retained Surpluses The “Restricted Surplus” represents surpluses that may only be used in accordance with the specific activities of the Trust.

(ii) Reserves Consist of: 2015 2014 NOTE $ $

Properties and collection revaluation reserve 36,297,336 36,297,336

36,297,336 36,297,336

NOTE 25: SUBSEQUENT EVENTS

The following events occurred subsequent to balance date:

On 21 August 2015, The Trust settled the sale of a 99 year lease on Trust Property, 8 Bullara Street Pambula.

During the period 1 July 2015 to 30 September 2015, the Trust incurred unrealised losses on their investment portfolio of $417,000.

Except as described above, there has not been any other matter or circumstance that have arisen since the end of the financial year that has significantly affected, or may significantly affect The Trust. 36 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

The following UNAUDITED information is provided for the benefit of members.

1. Summary of Surplus & Deficit ...... 38 2. Detailed Net Operating Surplus (Defict) by Cost Centre ...... 39 3. Properties and Collections ...... 43 4. Specific and General Purpose Grants ...... 44 5. Visitor Attendances – House Museums ...... 46 6. Inter-Committee Donations ...... 47 7. Total Funds Held for Future Application ...... 48

37 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

1. SUMMARY OF SURPLUS & DEFICIT

2015 2014 $ $

Operating surplus/(deficit) (1,338,506) (607,637) Dividend and interest income 604,109 357,986

Investment management fee (72,656) (56,906)

Operating surplus (deficit) after investment income (807,053) (306,557) Bequests 2,419,169 350,117 Donation Extraordinary 253,066 - Realised and unrealised gain (loss) on investment 443,670 382,912

Net surplus/(deficit) for the year (per accounts) 2,308,852 426,472

38 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

2. ADDITIONAL INFORMATION: DETAILED NET OPERATING SURPLUS (DEFICIT) BY COST CENTRE 2015 2014 Net Net Operating Operating Results Results National Trust Centre $ $

4002 – Advocacy (2,757) (39,033) 9801 – Archives (57,186) (56,020) 6103 – Bequests (17,312) - 1006 – Collection management (110,937) (5,510) 9601 – Communications (18,823) (45,990) 4901 – Conservation 891 54 9401 – Corporation partnerships 3,500 4,750 7001 – eCommerce (29,578) (39,173) 4003 – Education - - 6301 – Events (3,115) 83,359 9501 – Executive office admin (276,430) (237,681) 9101 – Financial management (397,732) (418,854) 9405 – Fundraising 45,145 71,737 9103 – Governance & risk (14,131) (68,642) 9406 – Grants management (54,237) 138,887 9301 – Human resources (141,527) (121,599) 9201 – Information technology (128,998) (95,704) 2301 – Magazine (107,346) (99,284) 2101 – Membership 575,223 644,473 9102 – Procurement (106,106) (104,309) 5001 – Properties administration (356,887) (239,684) 5013 - Properties Administration - Disposal of Properties (68,897) - 4001 – Public relations admin - (94) 8010 – Foundation (7,045) (9,230) 9104 – Treasury (22,321) (10,258)

(1,296,606) (647,805)

Regions and Branches

1403 – Bathurst Branch (1,505) (231) 1407 – Blue Mountains Branch 6,390 8,491 1409 – Broken Hill & District Branch 340 141 1413 – Gulgong Mudgee Rylstone - 800 1415 – Hawkesbury Branch 5,157 1,534 1417 – Hunter Regional Committee (636) (109) 1419 – Illawarra re Shoalhaven Branch (3,539) (2,209) 1423 – Lachlan Branch 1,108 5,347 1425 – Lithgow Branch 1,301 62 1427 – Macquarie Regional Committee - - 1431 – Orange & District Branch (201) (97) 1433 – Parramatta Regional Committee 2,271 1,135 1405 – Southern Highlands Branch 64 38 1447 – Far South Coast Branch 2,000 143

12,750 15,045 39 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

2. ADDITIONAL INFORMATION: DETAILED NET OPERATING SURPLUS (DEFICIT) BY COST CENTRE (continued)

2015 2014 Net Net Operating Operating Results Results House Museums/Galleries $ $

Larger Museums/Galleries

5317 – Everglades – Leura (13,014 (30,096) 1303 – Friends of Everglades – Leura 5,433 3,840

Total – Leura (7,581) (26,256)

5201 – Experiment Farm Cottage – Parramatta (25,237) (39,923) Add contribution Miss Fisher’s murder mysteries exhibition ‐ 40,923

Total Experiment Farm Cottage – Parramatta (25,237) 1,000

5205 – Old Government House – Parramatta (77,624) (82,010) Add contribution Miss Fisher’s murder mysteries exhibition ‐ 86,310 Total Old Government House – Parramatta (77,624) 4,300

1309 – Friends of OCH – Parramatta 6,153 25,029

5101 – Norman Lindsay Gallery – Faulconbridge (7,721) (37,302) 1307 – Friends of NLG – Faulconbridge 3,633 14,288

Total – Norman Lindsay (4,088) (23,014)

5103 – S. H. Ervin Gallery – Sydney (143,982) (138,134) Add donation ‐ 100,000

Total S. H. Ervin Gallery – Sydney (143,982) (38,134)

5209 – Saumarez Advisory Committee (35,111) (57,683)

Larger Museums/Galleries (287,470) (114,758)

40 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

2 ADDITIONAL INFORMATION: DETAILED NET OPERATING SURPLUS (DEFICIT) BY COST CENTRE (continued)

2015 2014 Net Net Operating Operating Results Results House Museums/Galleries (continued) $ $

Smaller Museums/Galleries

5309 – Cooma Cottage – Yass (12,889) (28,600) 1301 – Friends of Cooma Cottage – Yass 127 3,158

(12,762) (25,442)

5313 – Dundullimal – Macquarie Region (98,759) (44,520) 5219 – Grossmann & Brough – Maitland 7,934 718 5207 – Harpers Mansion – Berrima (9,780) 8,145 5331 – Miss Porters House – Newcastle 3,187 6,035 5211 – Miss Traills Hosuse – Bathurst 2,797 2,541

5335 – Riversdale – Goulburn 5,614 10,014 1311 – Friends of Riversdale – Goulburn 2 1,995

5,616 12,009

5245 – Sir Henry Parkes SOA – Tenterfield (874) (2,049) 5343 – Sir Henry Parkes SOA – Tenterfield (7,098) (19,329)

(7,972) (21,378)

1317 – Tomago House – Tomago (9,725) 5,132 5349 – Vienna Cottage – Hunters Hill (744) 3,710 5355 – Woodford Academy – Woodford 15,776 (15,146) 5217 – Lindesay – Darling Point (6,484) 3,059

Smaller Museums/Galleries (110,916) (65,137)

Total Museums/Galleries (398,386) (179,895)

41 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED) 2 ADDITIONAL INFORMATION: DETAILED NET OPERATING SURPLUS (DEFICIT) BY COST CENTRE (continued)

2015 2014 Net Net Operating Operating Results Results Fundraising $ $

1201 – After Hours Committee - 1,265 1101 – Central West Womens Committee (22,838) 26,631 1450 – Soft Furnishings Committee (441) (318) 1460 – Soft Furnishings Committee – Contracts 3,200 (221) 1205 – Tours Committee 20,017 16,009 1435 – Riverina Committee (50) (384) 1105 – Womens Committee 187,695 161,824

187,583 204,806

Properties under Management

5303 – Ahimsa – Sentosa – Cheltenham (1,623) (2,840) 5307 – Bligh Street – Sydney - (7,740) 5311 – Dalwood House – Hunter Valley (27) - 5358 – Bullara St House – Pambula 8,729 10,049 5319 – Golden Vale – Sutton Forest (89,922) (95,752) 5321 – Juniper Hall – Paddington - (185) 5351 – Watch House – Balmain (1,224) (3,096) 5357 – Ludovic Blackwood Sanctuary (4,878) (5,291) 5329 – Messengers Cottage – Observatory Hill 18,899 17,336 5333 – NTC – Observatory Hill 14,654 (29,304) 5338 – Stella James House – Avalon 19,366 (474) 5353 – Wirrimbirra Sanctuary – Bargo (18,211 ) (12,155)

(54,237) (129,452)

Bushland Management

4101 – Bushland Management Services 210,390 129,664

Operating Net Profit & Loss (1,338,506) (607,637)

42 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES) SUPPLEMENTAL SCHEDULES (UNAUDITED) 3. PROPERTIES AND COLLECTIONS

Nature of Year of Book Value Book Value Location Name of Property Acquisition Acquisition Land/Buildings Collections** Remarks PROPERTIES HELD AS CUSTODIANS Balmain Balmain Watchhouse* Trusteeship 1966 1 - Reserve Trust for preservation of historic buildings and sites; leased to Balmain Assoc. Maitland Brough House* Trusteeship 1974 1 - Reserve Trust for preservation of historic buildings and sites. Maitland Grossmann House* Trusteeship 1968 741,376 309,535 Reserve Trust for preservation of historic buildings and sites. Observatory Hill Messenger’s Cottage* Leasehold 1975 1 - Leased through Government Properties NSW and sublet to tenants. Observatory Hill National Trust Centre* Leasehold 1975 76,884 656,421 Leased through Government Properties NSW (main administration building). Observatory Hill S.H. Ervin Gallery* Leasehold 1975 3,174 2,855,800 Leased through Government Properties NSW. Parramatta Old Government House* Trusteeship 1967 2,305,703 3,510,558 Vested in Trust by Act of Parliament. Scotland Macquarie Mausoleum* Trusteeship 1969 1 - Title remains with Union Fidelity Trustee Co. of Australia. Sydney 31 Bligh Street Leasehold 1973 1 - Trust holds head lease to protect heritage value (former NSW Club). Tathra Tathra Wharf* Trusteeship 1978 - 6,000 Collection only owned by the Trust. Tenterfield Sir Henry Parkes Mem. School of Arts* Trusteeship 1957 1 72,200 Transferred to Trust by Act of Parliament, leased to Tenterfield Council. 3,127,143 7,410,514 FREEHOLD Armidale Saumarez Homestead* Freehold 1986 1,196,855 365,010 Donated by the White Family. Avalon Stella James House Freehold 1964 609,019 - Gift from Estelle James with assistance from donors and leased. Bargo Wirrimbirra Sanctuary* Freehold/Crown 1965 331,339 50,000 Gift from the David G. Stead Memorial Wildlife Research Foundation of Australia. Bathurst Miss Traill’s House* Freehold 1978 498,532 748,606 Bequeathed by Miss Ida Traill. Berrima Harper’s Mansion* Freehold 1978 228,645 32,972 Purchased by the Trust. Braidwood Bedervale Collection 1986 - 580,900 Contents only owned by the Trust. Branxton Dalwood House Freehold 1988 281,906 - Gift from the Wyndham Estate. Cheltenham Ahimsa Freehold 1972 700,000 - Purchased by the Trust with assistance from donors and leased. Darling Point Lindesay* Freehold 1963 6,415,496 743,502 Purchased by the Trust with donation from W. Pye. Dubbo Dundullimal* Freehold 1986 708,519 51,150 Gift from the Palmer Family. Gallery purchased by the Trust, Artwork bequeathed by Norman Lindsay; Etching Studio was purchased 2,212,290 11,112,146 Faulconbridge Norman Lindsay Gallery* Freehold 1969 with assistance from the Centenary of Federation Fund. Total property value shown. Goulburn Riversdale* Freehold 1967 526,300 393,600 Purchased by the Trust. Hunters Hill Vienna Cottage* Freehold 1985 505,935 2,000 Purchased by the Trust. Leura Everglades* Freehold 1962 1,671,900 21,350 Purchased by the Trust. Newcastle Hazel Porter’s House* Freehold 1998 118,692 49,700 Bequest of the Late Hazel Mildred Porter. Paddington Juniper Hall Freehold 1984 - - Leased by the Trust in 2012 for 99 years. Pambula Woodlands Freehold 2011 475,000 - Bequest of the Late Joyce Aileen Hodge. Parramatta Experiment Farm Cottage* Freehold 1960 1,388,144 730,216 Purchased by the Trust with assistance from donors. Pennant Hills Ludovic Blackwood Mem. Sanctuary Freehold 1961 296,250 - Purchased by the Trust with donations from G&G E Blackwood. Rockdale Lydham Hall Collection - 36,630 Furniture collection only. Sutton Forrest Golden Vale Freehold 2005 5,292,600 - Donated by the Late Hon W M Keighly & Mrs K M Spiegel-Keighly. Tenterfield 201 Rouse Street* Freehold 1999 50,000 - Purchased by the Trust with assistance from the Centenary of Federation Fund. Tomago Tomago House* Freehold 1986 452,325 72,880 Donated to the Trust by Tomago Aluminium Company. Wentworth St Ignatius School Being Transferred 1988 40,000 1,000 Gift of Mrs M. White. Woodford Woodford Academy* Freehold 1979 1,466,175 5,000 Donated to the Trust by Miss G. McManamey. Yass Cooma Cottage* Freehold 1970 371,508 57,000 Purchased by the Trust with the donation from Mrs Mary Griffiths. 25,837,430 15,053,662 *Open to the Public TOTAL MUSEUMS, PROPERTIES AND COLLECTIONS 28,964,573 22,464,176 ** Collections are owned by the Trust

43 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

4. SPECIFIC ANG GENERAL PURPOSE GRANTS

The following general and specific purpose grants have been received

2015 2015 (GST (GST Inclusive) Exclusive) Grants recognised in Surplus or Deficit $ $

NSW Office of Environment & Heritage – Heritage Branch National Trust Cemeteries Conservation Advisory Service 2012-15 40,000 40,000 State Heritage Register Properties Conservation 90,283 82,076 National Trust Heritage Festival 110,000 110,000

240,283 232,076 Department of Environment and Heritage Protection Australian Council of National Trust - National Heritage Festival 188,000 188,000 Australian Council of National Trust - National WEB Design 226,978 226,978 Australian Council of National Trust - National Heritage Festival 19,500 19,500

434,478 434,478 Australia Council for the Arts Peter Rushforth Exhibition 35,000 31,482

The Copland Foundation Collection Management system 2,378 2,378

Wingecarribee Shire Council Community Asst Prog – Garden Shed at Harper’s Mansion 3,300 3,000

City of Armadale Repair the cover to the Glass House 1,000 909

Bathurst Regional Council Miss Traill’s House Guttering 2500 2500 Miss Traill’s House Painting Roof 712 712

3,212 3,212 Maitland City Council Equipment for Grossmann & Brough House 2,500 2,273

Lithgow City Council Finance assistance for the project John Welling Award 290 264

Blue Mountains City Council Stone works on the Cherry Terrace 2,000 2,000

Goulburn Mulwaree Council Support of Usage of water at Riversdale 5,000 5,000

Mumbulla Foundation Aboriginal heritage signage 2,000 2,000

44 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED) 2015 2015 (GST (GST 4 SPECIFIC & GENERAL PURPOSE GRANTS (CONTINUED) Inclusive) Exclusive) Gorden Darling Foundation $ $ Catalogue the William Dobell exhibition 18,764 17,058

Department of Veteran’s Affairs ANZAC Centenary Local Grants Program 3,082 2,802

Department of Education and Communities – Community Building Partnership Improvements of Security Miss Trails House 4,742 4,311 Stock Yard Restoration Dundullimal 11,000 11,000 Refurbishing Garage 8,800 8,000 Wallpaper replacing 6,340 5,764 Development of New Exhibition and Interactive Media Room – Harpers Mansion 11,000 11,000

41,882 40,075

Museums and Galleries NSW Preserving our collection for future generations 1,100 1,000 Display cabinets for new exhibition room 2,200 2,000 Storage of Clothing Collections 1,958 1,780 Conservation of MTH Collections 7,282 6,620 Photograph Grant Miss Porters House 1,659 1,508

14,199 12,908

Total grants recognised in surplus or deficit 809,368 791,915

Grants recognised as Deferred Income in 2015

NSW Office of Environment & Heritage – Heritage Branch State Heritage Register Properties Conservation 157,216 142,924

Museums and Galleries NSW Pilot Trial of eHive at Miss Traill’s House 6,281 5,710

Department of Veterans’ Affairs ANZAC Centenary Local Grants Program 3,865 3,513

Parramatta City Council 2015 PCC Community Grant – “Tails of India” project 5,500 5,000

Margaret Olly Art Trust Magaret Olly Exhibition 75,000 75,000

Foundation for Rural and Regional Renewal Staff and volunteers in collection preservation and disaster planning 10,300 10,300

Ian Potter Foundation Children Education Programme at Everglades 25,000 25,000

Total grants recognised as deferred income 283,162 267,447

Total specific & general purpose grants 1,092,530 1,059,362 45 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

5. VISITOR ATTENDANCES – HOUSE MUSEUMS

Entry Fees Total Trust Total Visitor Total Visitor $ Members Numbers Numbers 2015 2015 2015 2014 Cooma Cottage 9,634 83 1,868 2,134 Dundullimal 23,466 147 5,387 7,487 Everglades Gardens 188,427 966 30,934 28,343 Experiment Farm Cottage 5,789 154 4,830 4,897 Grossmann House 3,900 46 4,042 3,180 Harpers Mansion 22,331 169 6,286 5,457 Lindesay House 1,398 - 5,955 10,256 Miss Porter's House 1,391 47 541 959 Miss Trail’s House 6,198 64 2,074 2,560 Norman Lindsay Gallery 142,191 952 17,882 18,573 Old Government House 40,580 397 18,025 37,867 Riversdale 10,195 1,922 11,200 16,011 Saumarez Homestead 27,126 89 9,023 8,881 S.H. Ervin Gallery 85,752 2,024 20,539 20,712 Tomago House 1,127 37 2,167 2,350 Vienna Cottage 79 163 2,610 2,673 Woodford Academy 10,448 85 1,207 844

580,032 7,345 144,570 173,184

Visitation includes all property usage including no-charge entry however when Trust Members visit as part of a group on the Group Entry Ticket their visit is not counted separately as a Trust Member visit.

46 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

6. INTER-COMMITTEE DONATIONS

The following committees provided inter-committee donations during the year:

2015 2014 FROM TO $ $

General Committees Central West Women’s Committee Miss Traill’s House 20,000 15,100 Bathurst Branch 5,000 - Women’s Committee Friends of Cooma Cottage - 6,000 Dundullimal Homestead - 7,500 Vienna Cottage - 3,000 Grossman & Brough House - 4,000 Tomago House - 4,000 Women’s Committee Lindesay Management Committee 55,232 68,487

80,232 108,087

Friends, Regional and Branch Committees

Blue Mountains Branch Woodford Academy 1,877 - Norman Lindsay Gallery 1,940 - Everglades 500 - Friends of Cooma Cottage Cooma Cottage 300 3,317 Friends of Everglades Everglades 6,027 4,317 Friends of Norman Lindsay Norman Lindsay Gallery 12,000 12,000 Friends of Old Government House/Experiment Farm Cottage Experiment Farm Cottage 8,000 1,000 Friends of Old Government House/Experiment Farm Cottage Old Government House 3,500 4,300 Friends of Riversdale Riversdale 12,500 11,710 Southern Highland Branch Harpers Mansion 3,800 2,000 Riversdale - 3,000 Cooma Cottage - 3,800 Golden Vale 10,900 - Parramatta Branch Old Government House 2,000 -

63,344 45,444

Total Inter-Committee Donations 143,576 153,531

47 THE NATIONAL TRUST OF AUSTRALIA (NEW SOUTH WALES)

SUPPLEMENTAL SCHEDULES (UNAUDITED)

7. TOTAL FUNDS HELD FOR FUTURE APPLICATION $

Women’s Committee Interest 2009/2010 22,019 Tomago House Maintenance Fund 2009/2010 16,851 EFC Maintenance Fund 2009/2010 31,600 S. H. Ervin Maintenance Fund 2009/2010 16,877 Wirrimbirra Maintenance Fund 2009/2010 3,227 Miss Porter’s House Maintenance 2009/2010 3,321 Sustainability Fund 2009/2010 20,956 Sustainability Fund 2010/2011 500 Riversdale Garden Autumn 2010 Appeal 2010/2011 595 Collections Conservation Summer Appeal 2009/2010 2010/2011 1,110 Saumarez Homestead 2010/2011 750 Grossmann and Brough House Winter Appeal 2010 2010/2011 15,878 Remnant Native Bushland linked to 6 properties Spring Appeal 2010 2010/2011 24,170 Jessie Scarvel and John Glover Collection Conservation Summer Appeal 2010/2011 2011/2012 15,476 Everglades Classical Statuary Winter Appeal 2011 2011/2012 12,768

Total 186,098