REGIONAL FACILITIES AUCKLAND annual report FOR THE YEAR ENDED 30 JUNE 2020 TE PŪRONGO Ā-TAU 30 PIPIRI 2020 1 2 Contents of annual report Ngā mea o roto pūrongo ā-tau OVERVIEW ................................................................................................................ 6 Tirohangā whānui .......................................................................................................... 6 OUR SUCCESSES AND ACHIEVEMENTS ......................................................................... 6 Ā tātou momoho me ngā tutukitanga ............................................................................... 6 OUR ASSETS ............................................................................................................ 10 Ā tātou rawa ................................................................................................................ 10 OUR FINANCES ........................................................................................................ 10 Ā tātou pūtea ............................................................................................................... 10 FUTURE OUTLOOK ................................................................................................... 11 Tirohanga whakamua .................................................................................................... 11 Financial Statements ............................................................................................... 12 Pūrongo tahua pūtea ..................................................................................................... 12 Statement of Comprehensive Revenue and Expenses for the year ended 30 June 2020 ........................ 12 Pūrongo o ngā Whakapaunga me ngā Whiwhinga Pūtea mō te tau mutu a te 30 o Pipiri 2020 ............. 12 Statement of Financial Position as at 30 June 2020 ................................................................................. 13 He Kōrero mō Tahua Pūtea i te 30 o Pipiri 2020 ...................................................................................... 13 Statement of Changes in Equity as at 30 June 2020 ................................................................................ 14 He Kōrero mō te Panoni Rawa Pūtea i te 30 o Pipiri 2020 ....................................................................... 14 Statement of Cash Flows for the year ended 30 June 2020 ..................................................................... 14 He Kōrero mō te Kapewhiti Pūtea i te 30 o Pipiri 2020 ............................................................................ 14 Basis of Reporting ................................................................................................... 15 Te Takenga Pūrongo ...................................................................................................... 15 Reporting entity ....................................................................................................................................... 15 Basis of preparation ................................................................................................................................. 15 Other accounting policies and judgements.............................................................................................. 16 Implementation of new and amended standards .................................................................................... 17 Impact of COVID-19 on RFA ............................................................................................ 18 Revenue and Expense Results for the Year ................................................................. 19 Ngā Whiwhinga me ngā Whakapaunga Pūtea o te Tau ....................................................... 19 Note 1 – Revenue..................................................................................................................................... 19 Pitopito kōrero 1 – Ngā whiwhinga moni ................................................................................................. 19 Note 2 – Employee benefits ..................................................................................................................... 21 3 Pitopito kōrero 2 – Hua ki ngā kaimahi .................................................................................................... 21 Note 3 – Other expenses ......................................................................................................................... 21 Pitopito kōrero 3 – Ētahi atu whakapaunga ............................................................................................. 21 Note 4 – Explanations for major variances from RFA’s budget ................................................................ 22 Pitopito kōrero 4 – Whakamārama mō ngā rerekētanga o te tahua pūtea a RFA ................................... 22 Working Capital ...................................................................................................... 23 Haupū Pūtea Mahi ........................................................................................................ 23 Note 5 – Cash and cash equivalents......................................................................................................... 23 Pitopito kōrero 5 – Ngā moni me ngā pūtea taurite ................................................................................ 23 Note 6 – Trade and other receivables ...................................................................................................... 24 Pitopito kōrero 6 – Whakamahi me ērā atu whiwhinga ........................................................................... 24 Note 7 – Inventories ................................................................................................................................ 25 Pitopito kōrero 7 – Rārangi taputapu ....................................................................................................... 25 Note 8 – Payables .................................................................................................................................... 25 Pitopito kōrero 8 – Ngā utunga ................................................................................................................ 25 Note 9 – Employee entitlements ............................................................................................................. 26 Pitopito kōrero 9 – Ngā tikanga kaimahi .................................................................................................. 26 Note 10 – Provisions ................................................................................................................................ 27 Pitopito kōrero 10 – Whakaaturanga ....................................................................................................... 27 Note 11 – Reconciliation of net surplus / (deficit) to net cash flow from operating activities ................. 28 Pitopito kōrero 11 – Whakamārama o te toenga whakamau / (takarepa) me te toenga kapewhiti pūtea i ngā mahi whakahaere .............................................................................................................................. 28 Long-term Assets .................................................................................................... 29 Ngā Rawa Motuhake ...................................................................................................... 29 Note 12 – Property, plant and equipment ............................................................................................... 29 Pitopito kōrero 12 – Ngā rawa, whare umanga, taputapu hoki ............................................................... 29 Note 13 – Artwork collections.................................................................................................................. 36 Pitopito kōrero 13 – Ngā kohinga toi ....................................................................................................... 36 Note 14 – Historical and cultural collections ........................................................................................... 38 Pitopito kōrero 14 – Ngā kohinga tuku iho, ahurea hoki.......................................................................... 38 Note 15 – Intangible assets ...................................................................................................................... 39 Pitopito kōrero 15 – Ngā rawa kiko kore .................................................................................................. 39 Borrowings, Risk and Capital Management ................................................................. 41 Ngā minonga, Whakatūpato me ngā Whakahaere Haupū Rawa ........................................... 41 Note 16 – Other financial assets .............................................................................................................. 41 4 Pitopito kōrero 16 - Ētahi atu taputapu ā-pūtea ...................................................................................... 41 Note 17 – Borrowings and other financial liabilities ................................................................................ 42 Pitopito kōrero 17 – Ngā minonga me ērā atu take ā-pūtea.................................................................... 42 Note 18 – Financial instruments .............................................................................................................. 43 Pitopito kōrero 18 – Taputapu ā-pūtea ...................................................................................................