29

.....••••••TeManaWa

MUSEUM OF ART, SCIENCE AND HISTORY

SIX MONTHS REPORT JULY - DECEMBER 2014

30

COntents

6 Months Report 20J4/15

1. To e~pand and diversify partnerships and relationships

2. To darify, develop and promote an organizational model which willsupport the realization of the strategic plan

3. To darify and develop the progfamml!$ offered In response to a betterunderstandlnB of our communities

4. To professionally manage and maintain all assets

S. To consotld<lttl and build the separate and collective capablllty of staff,governance and core stakeholders

6. To maintain, grow and diversify revenues sources

2

31

REPORTING AGAINST THE STATEMENT OF INTENT

PLANNED ACTIVITIES 20111/15

Summary

During July -I>ec 20111 a~ leadership t~am was appointed that would assist In imp\M'I~ntlnc thestratelk: plan that wiN achieve th~ vision of a Museum without Boundaries.

Durina these months, the leadership team focussed on worklns with staff to bealn developingsystems and processes to ellible the vlwn to be firmly embedded Into the 0"10108 culture andpl'letlce of Te Mln.JIwa.

During this time of consoNdatlon and relle<:tlon Te Manawa continued to deliver a stream ofengalllni experiences. Exhibitions highlights were the four Wlntervlew' exhibitions Block River: (J

caNaberatlon In pottry and print; Whore TOOOflO: A~Jds Neal and Rono Ngohulo Osborne; ShlgeyuklKlhoro: Und~"fI the Podf/c; Ind From GondwunalMd to GOilewonderJond· Ul Gront. Pasifikll;TnosUffS In the MooowotO Is a Te Malliwa /Iocal Paslnkl community coIIabol'loon that IfIVOlYeddraw1nc many previously unseen objects from ourcolteclions and worklnc with thewider community, Ind has attracted an audience rarely scen In Te Manawa in the past.

For summer Moratau 2014, the annual Massey Unlvef$/ty Bachelor of Maori Visual Arts exhibition,Opened In tandem with Uku Ren: Ng~ KolhtJngo UJcu and beyond and.n IY.'Ird wlnn!rc cbiy bodyart experience 'ltlrr by PiH!t'aU Corneal and Louise Potlkl Bryanl. Collected Fictions, aTe Mlinawa­Wlntec collaborative exhibition 'popped-up' oulside the art gallery and Mirror Mafllc and San!a'sCOW! once again proved popular with families.

The science tounfll exhibition Sunlight Ih/ K&nOlV was deferred to open In 2015 and Pro~sor SirPeler Gluckman ChiefSCIenat Advisor to the New Zealand Prime Minister toot on tile roIt of patronfor the exhibition.

Resardlng the commemoration of lhe First World War, work continued on tile development ofFDrf!IW!/1 ZeolOfldla: /ClffJOttefl kiwi songs ofWW1, due to opef'lln April 2()1S; and UCOL Bachelor ofAppiJ~ V1suallmagl"i students created sculptures on the therM of unsul'll heroes ofWW1 with.steam punk twist

There was also a focus on the older person In this period with International DaV of the Older Personbeing held at Te Manawa, and Ihe Museum-In-.-Boll experience taldng hlstoncal collection Items tolocal rest homes. InvolYement In Awesome Awapunl day, Local Hluoty Week and Conservationweek sawTe Malliwa continue to move out In to the community. Waifaflll ~y Is ag;t/nprogrammed to be held at Te Manawa In 2014.

Te Malllwil and Creative Journeys were jointly nominated for In Arts Aeces.s aWlrd In relation to theperfutmlnces at Te Manawa of lnlemltlonal band with disab!Htles 'Rudely Interl'\Jptect:

Al'IUmber 01 (reatlve collaborations were initialed: Stnn. Bean Puppets fO( the Itlwi puppet conceptto be held In thl! Te Awa exhibitIon and WWI Interpretation associated with Farewell leoland;a;Netball Manawatu for the namesake netball exhibition; Actille Minds Aotearoa resardlng schoolholiday prosrammes; Ron Te klwa for the Peace Quill fabrication; and the RanslwahlaEnvironmental Arts cenlre Trust and Creative Journeys for HI! NO Toe, I dance experience forpeople of mlx.ec! lbilitles to be held throulhout Te Manawa exhibitions' spaces.

• • 2 ,

32

AprOject on susllllnilble coliectlofU storilCCl wlth Massey University Muscum Studies was started.This will feed Into plannlnltne movement of collecllons In order to carry out earthquakestrenctlwlnlnclo the nIne blJikllngs ofTe Manawa 'ffil.lSl!Um compleJ(. A prioritlSOItion phln Is belnedeveloped In conjunction with Palmerston North dt" Council.

The Science Centre Trust provided fundlrlfl towards the development of Sunlight Ihi KtJmoru, lindsome sclence·ba5~ events were ~arrled out Including 'The human ~elr s~u\ptural project withPalmerston North Girts Hiah School, and 'Scotty' the giant T Rell puppet, with Te Papa.

Some sig"lficilnt new acquisitions were purchlsed and olfiNed to Te Mana_ In this periOd. showinlcontlnucd confidence around the level to which Te Manawa earn for and stores Its ~ollectlons.

Ovcrall attendance It Te Manawa for the lirst 6 months of 2014/15 on lfllck ilt 11 De~emberwithvisitor numbers at 102% of projectIons even though The Harvest festival (around 6,000 visitors) andMagic of Christmas Night Marltet (around 4,000 visitors) did not take pla~e this vear: 79,615 againsta tilraet of 77,456.

Te MaNlwa Educiltiorl numbers at 31 December 2013 are i1bove ta'iet at 135" of liI~: 12,706against iI larset of 9,430.

Visitor satlsfa~tlon Is at 95% at end of De~ember 2014.

Olief EIlecutille

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33

Six Months Report against Statement of Intent - December 2014

2014/15 Budget Reporting Status Result CommentsManager

Te,.' - .

Number of visits to TM 164.000 On track AetUiill- 79,615 Sunlight deferred to March 28'" 2015 however weBudget-77,456 are stili on track with visitor numbers102" of taraet visitor numbers

Number of visits to TM 166,030 Concepts & At Risk 36,"0 to December 2014 13/14 ·158,124 plus 5% target increaseexhibitions at other venues Engagement The number of visitors to one exhibition at ~ main

centre in 13/14 (105,000 to Body in Action atCanterbury Museum) will be a challenging target tosurpass

Number ofvisits to sodal 155,000 On trackmedia October: Facebook: VIsits: 401 (people who visited

Te Manawa's profile) Reach: 10,794 (people whosaw or Interacted with a Te Manawa post in theirown news feed) Website: VISits: 5965

November:Facebook:Visits: 280 Reach: 9891

December: Webslte:Vlsits: 260 Reach: 12,906(Santa's cave oODularl

Total visits to TM Experience 485,030

FinaN:lal-- -

-Third party revenue $752,751 Assets & At risk 66.7% of budgeted third party Third party revenue for the year is forecast at

Systems revenue achieved for the first six 84.0% of the budget/target The actual-to-datemonths third party revenue does not indude revenue

. received In advance as at 31 Dec 2014•

,satisfaction

Visitor satisfaction >95% People and On trade 95% very good to excellent

(TM surveys) PartnershIps

Community satisfaction >84" Chief Executive Unknown as yet

(PNCC Communitrak survey)

34

1. To maintain, clarify, expand and diversify partnerships and relationshipsPlanned Activities 2014/15 Reportina Status Resu~ COmments

Manager

Develop a TM partnership & Audit of partnerships and People & OnTracll: MOV being revisited and revised in some casesrelationship strategy and relationships completed Partnershipsplan ~ including social,

Develop and implement On Track Identifying core areas of development forcuttural, economic &Strategy and Plan People &

environmental sectors PartnershiosTe Manawa

All protocols and processes, Quarter 3 Realigning of contract and MOU templates toincluding Mou template, People & Strategyaligned with new Strategy Partnerships

Develop TM partnership & I'rioritised r~t of par1nernhipS On Track In progress and under negotiationrelationship protocols & and relationships developed People &

processes Partnerships

3 p<ioriUsed existing On Track UCOl, Passionart, Creative Journeys

pa,t",..hips confirmed - wi1h People &

added value, Partnerships

3 priori1ised new partnernhipl On Track Library, Department of Conservation and New

refationships achieved delivering People & Zealand Rugby Museum in progress

coBaborative oroorammes Partnerships

3 naliooal par1nerships identified Quarter 3 New Zealand Rugby Museum, MuseumsPeople & Aotearoa

PartnershiDs

2high value mid Illloog-lerm On Track library & New Zealand Rugby Museum

partnerships Identified People &Partnerships

90% of external partners On track Developing evaluation processrecognise benefit from their People &rel_shipwi1h 1M Partnerships

Consolidate and increase the Formalise MoU with 1 PNCC Quarter 4 Yet to identifyvalue of 1M to Council and funded organisation or Chief Executivevice versa activity stream

Identify opportunities for Onmck HR assIstance IT assistance! Digital modernisation projectPNCCsystems and personnel Chief Executive

to add capability to 1M

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2. To clarify, develop and promote the TM organisational model and the TM point of difference

Planning Activities 2014/15 Reporting Status Result CommentsManager

darity, develop and review Update and publish the TM Chief Executive Achieved The strategy aligned New Leadership team appointed on 4 Augustthe TM strategic framework strategic framework I leadership organisational structure came Into 2014. Strategic plan finalised in the form of

Team force on 4 August 2014 Statement of Intent and published on TeManawa website

Align the organisational Recrult and Induct all staff Chief Executive On track 2 positions still to recruit:

structure to the new TM into new roles within the I leadership 1 Strategic Partnerships Advisermodel strategic framework Team Maori

2 Programme Delivery Manager-April 2015

Align all policies. procedures Review of policies and leadership On track Financial Delegation Policy, Priority being given to Health & safety Policy,and systems to the new 1M procedures to Identify Team Communk:atlon policy approved Collection Policy and Guidelines, Sustainabillty

model priorities for alignment to during second quarter Policy now in draft formatnew strategic framework

Develop an environmental Implement Environmental leadership On track Draft Environmental Sustalnability

strategy and Incorporate Sustainability Policy for TM Team policy to be revlewed bysustainable practices across leadershIp Teamail activities

Identify opportunities for Le:adership Achieved Sustainable Collections project Awaiting report from Massey Universityrelated partnershIps Team instigated by Massey Museum

Studies undertaken in conjunctionwith Massey UniversIty took placein October 2014

Ensure the TM story/brand is A marketing and People & Quarter 3 Communications policy revised and approved by

strategic and dear, and Is communications strategy Partnerships leadership Team/Board of Trustees. Progressing

effectively communk:ated and plan is developed and to Implementation with staff workshopsand promoted Implemented

The 'TM Story' Is featured on people & Quarter. Weekly editorials

2 front-page stories in the PartnershipsSchedule Sunlight for front page story with

local print media and 1 Manawatu Standard and Waitangl Day forprime time TV story Tribune

1 TM key message Is People & Quarter 4 In progressunderstood bv >50% of Partnerships

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3. To clarify and develop the 1M programme offer and approach in response to better understanding communities

Planning Activities 2014/15 Reporting Status Result CommentsManager

Better understand the Develop a strategy and plan to People & Quarter 4 In development. Implementation in Quarter 4needs, preferences and gain information from multiple Partnerships

values of communities sources on user and non-usermotivations and needs ANDbarriers to participation

Pilot and assess 2 new ways of People & In development. Implementation in Quarter 4working with the community Partnerships

Quarter 4

Increase number of vtsftors People & In development. Implementation in Quarter 4surveyed by 30% on previous Partnerships

Quarter 4

year

All staff participate In a TM people & In developmenL Implementation In Quarter 4approved community group partnerships Quarter 4

for one day

Maximise the demonstrable Summative research People & Quarter 3 In development. Implementation in Quarter 4-....alue of the new TM model undertaken on 3 prioritised Partnerships sunlight. Waitanal Day & Matarlklfor individuals and groups on initiativesthe community

90% of community partners In development. Implementation in Quarter 4prOVide evidence of positive people & Quarter4

Impact on TM partnership partnerships

against project objectives

Impact of signature TM project People & In development. Implementation in Quarter 4

measured. with 60" positive partnershipsQuarter 4

outcome against projectobjectives

Analysis of signature project people & In development. Implementation in Quarter 4fed Into 2016-17 project(s) PartnershIps

Quarter 4

TM visitor satisfaction surveys People & 00 Track 95% at end of Dec 2014achieve >95% Partnerships

Develop a range of One signature TM project leadership Achieved Posifiko: Treo$urtS in the Monowotti exhIbition

experience products achieves local acdalm for Team has improved connection between Te Manawa

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{lndud11ll exhibilion, 'o'frtu~l, ',mpllfylnj pos.sib~ilies' ilIld the P~b cornmulWt/es of Manawatilonline. events, edv,""lIon,

DeIJver 3 (:O-g"eate<! anMtles l.eaderstup On~ck WoodVIne textile al1Ut!ton T. PrWftka: TFeClwru In thl MOMWDtV opened 16etc) to ensure the focused'nd SUillteak: use iIInd

IIftil almlTlllnity pilrtneni t9ml K.awa· collaboriltn-. tomfTIvnity August, 2014; Ntfboll MCIIIC7WUW opened 3

~tlon of tho! TMCOnapts~ pra;.a. HiIw";1IJfll Ptoct Octobt1. 2014 and dosed on 23 November,

collKtlons .....~"" avilf/r"Jtj from /{oJt1doJcope 2015Mountom. Phost J. TeAllIKorJ/MonC1WC7tli In the pllrtludunnc raffy 2015; the IOUm.possibilities of Ihk profea w.beinc expII:ud

A mil'limum of 19.000 visitors People & "" ~'" M.tlrlld festival Qulner 4

perticipett In onslte .e:tMtla Panl"lefShlps Waitar\&i Day Qllirttr 2dur!nlltleye.ilr,.ndpartldpoltion in two _u.~ i1t le.ll$t 3,000 Vbftlll'S

Totll formill education \/bits People &On_

Act~I-12,706

Idlltve 2l,.600 Plrtnershlps 8udget - 9A30

'lltl13S" of lafllet EdUQIion

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On.1nteJrllted' onsltelonllne Ass.ts and On trlde On Sllel "n line InteiJlIlon of the

protect i1chieYed Systems ~nlChtexhibition

Oe/Ner exhibitions ilnd lNdonrn, On."" Wt Mve sevenJ tllhiblt10N iIInd Fo~ Zrolondfo. fotvotttn Kiwi~at WWIactN!ties in coIlilboratlon wI1h '~m collilbor.ltive aclMtIes planned 10 will open in April; WoocM~ lextIh! anist Ron T.the Centrnary of WWI tornme(l'lOnle World Wlr I Kawa will be wort1nCon hlscolbbcmJtivr

community proJect. Hlkul'flf'lQl ProQ: Oullt/Tolrsfrom /{oltldoscopc MounrcM. Pho~ 1 - Tt AN/{oQ/MonowotJ1ln the pllena durini e¥ty2015; we iII,e hoslm& the Rl/abY Museum'semibition, Boo~ lkIltJ ond autlta laterln 2015

UCOl8A'" $tudenu SCUlptlll& with WoNl them.

Annual vtsitor numbers IOtll lellderYlipOn_

lOa of U1lJ;et i1t end Deumb« Harvut frstiYIIlnd Mack of Christmas Nichl:>164,000 Tum ~"'etdid not t.Ikt p1ilc:e this year

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4. To professionally manage and maintain all TM assets

Planning Activities 2014/15 Reporting Status Result CommentsManager

Ensure appropriate Review collection development Assets & To be completed as part afthe Management ofdigital and other intangiblecollection development. and access polities as part of Systems! On track revfew of the Collections policy assets have been identified as areas that requiremanagement & research the review of strands and in leadership research & revisionstandards are achieved and alignment with strilteg1c Teammaintained direction

All ttems are acquired in Assets & All collection items have beenaccordance with TM policy and Systems I On track acquired in accordance with theprocesses leadership Collection Policy

Team

Quality of care and Assets & No Instances of Irreparable 1 loaned Item damaged by unknown personspreservation of collections in Systems/ On track damage recorded {'Puanga' tukutuku panel in Whare T3008a-TM's care demonstrated by no Leadership noticed 27/10/14. Repaired}Irreparable losses or damages Teamcaused as a result of handlingby staff, and minimal «5) casesof irreparable damageoccurring as a result of publicaaes,

Develop and manage the Wor\: with cultural precinct Leadership On track All way·finding signage has been Regular meetings have been set up with libraryfadlities In a way that and city partners to develop a Team reviewed and work on and UCOL leadership teams and projects thatoptimises community value, site and facility development Implementing changes Is foster collaboration are being developed withaa:ess, safety and use while plan that optimises and underway both these partnersmeeting all mandatory darifies TM's presence on and Banners that lead from the Square down Mainstandards entrance from the Main 5t to Te Manawa are being tnalled for Sunlight

StreeVSquare axis

Review spatial/functional Concepts & Quarter 4allocation and use of facilities Engagement /to optimise community access people and

to and use of all areas with Partnershipsprioritised recommendationscosted

Siv Month Reoort ag:"'inst ~::I Dec:::mbe.2014 15

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5. To consolidate and build the separate and collective capability of staff, govemance and core stakeholders

Planning Activities 2014/15 Reporting Status Result CommentsManager

Maintain and grow the Chair and CEO meet annually Planned for Initial Discussions have been heldBoard's capability and to discuss Board recruitment Quarter 3support to TM and vice versa and df!velopment priorities Ollef Executive and Quarter

4

Annual development Chief Executive Planned (or

workshop based on Chair Quarter 3working with CEO to identify and Quarterpriorities 4

2 Board/staffsodal and Chief Exec::utive Quarter 2 leadership team met with BoardInformation sharing and Quarterfunctlons are held 4

Build staff capability to Two year professional People & Quarter 4 On trade Research completed with aU staffdeliver and build the value of development plan outlining Partnerships Identified areas for development - projectthe new TM model organisation priorities work/ collaborative practIce! communication

Development targets for the People & Quarter 4 OnTradyear are identified and Partnershipsagreed by 31 July 2015; with70% of professionaldevelopment resourcesfocused on teamdevelopment. 30% onindividual development

A minimum of 2 all-staff people & Quarter 4 Ongoing Results of the workshops have been shared and

workshops and 3 topic- Partnerships are being utJlised by the various project teams.specific workshops as part of Workshops were held with all staff around thebedding In the new structure project development system that has been

implemented by the leadership team

80% of development plans people & Quarter 4 On Track Communications & Project Team Developmentachieved Partnershlos

Si.'( -"I1,"',th ":eport i~,ainst ...01 - ~:C=;:Tlb:!r :}QH 17

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6. To maintain, grow and diversify the revenue sources

Planning Activities 2014/15 Reporting Status Result CommentsManager

Develop and Implement a Strategy and 5 year plan and Assets & On Track Strategy and Statement of Intentfundraising strategy that targets developed Systems/Chief for period 2014/15 - 2017/2018secures ongoing funding for Executive are being revised in January andTe Manawa activities February as part of the statutory

obligation to prepare the DraftStatement of Intent by end ofFebruary 2015

Annual fund raising strategy, Assets & On Track Statement of Intent for threeplan and budgets are Systems/Oller years (2016-2018) is to bedeveloped and agreed by Executive submitted to Coundl by the end ofdue date 2016 for 2015/16 February 2015

Consolidate and grow Develop an underpromlse I Assets & On track Continuous effort around newIncome from current funders over deliver approach to Systems/Chief funding Initiatives, (sponsors,

reporting Executive grants etc.)

Undert3ke SWOT and PESTEl Assets & On trade Rescheduled for Quarter 3analysis on ail existing Systems/Chieffunders to develop risk plan ExeoJtive

Ensure fundr.llslng and Identify options for moving Leadership Planned forsponsor-partnership is sponsors from single project Team Quarter 3Integrated into operational to multiple projectplanning and priorities partnerships

Annual sponsorship and Leadership Planned forfundralsing plans and Team Quarter 3budgets are developed andagreed by April 2015 for2015/16

Sponsorship and fundraislng leadership Planned forbudgets are met Team Quarter 3

Sponsorship and fundraising leadership Planned forrevenue is secured across a Team Quarter 3

Six \I'i;Jnth Report ::g~ir::~ ZH - r:.1::;ITl:';~r 20t4 19

47

nnlt of attivltlo!s Indudinlmoibitiofts, eYenU IIldcaplt~ u:pendit",re

0nlI (I) M'W multlp" 'fOr Ltadwlhlp Pllnned fOf l.Nder$hip wm Ind the Stategy to be cruted5PO~P~eementII; Team QuilfUlr3& lpOfl~atld fundl"lto-

""'" Quart... 4 OfdinatoT wm bt wortlng towarcbIlwst~er

MaXImise tilt VlIlue 0' TM Inltlatt I commiS51on on LHdotnh,pTNm Al 'Usk Shop under re'o1twJf!fleJ"tttd revenue- Qles policy wtth a $lOk

procludnc projtcU. and ......producu

lMittt. prOJect-boa,*, Quarter 4leaOershlppill'Oft5 pt'ogamml', WIth a TtamS20lt pi Uflel

Stratfllti for retal. venue Ltadtnhip ""T_ DeV'elopment or~ Ind I wnue hire1l1re and other frool of house Team Stnltegy; shop suategy is heIne~opediKtMtln art imp/ttMnled

T~I!IIinlu:hibitlon rlVenue Con«pts and CnTndc CurTtnUy tau....,. e.IIlb/t1ons at. The deby In Opetlln& Sunlight MI meanl theurcetl are met and uc.ed '......... mH1i"lll1l!ir revenull laTllets bvI defl!lT.lll or the toun"i procramme for lhls2013/14 KlU,I rtsulb the del.., in QgeI'\Il"C ~nlighr~ exhitlftiCIn untllate lOIS

meant that any~ue from thll

product~ not I» realised IIntlilate 2015

Rl!Yttlue In(nues by 10K LeAder$hlp ..... Tht foreasr revenue for yen end

OWl' 2OU/14 iKtIlal 'Mutts T9m sits.t 68_9" of 2013/2014 actualfor rwll, venut hire .nd resullsotIItr front of house

",Nt"..S" lnatase inp~mme Ltadtrship ..... Theloreart rtv,"ut for year endreYeflue from 2013/14 actual Telm illS It &!>" of 2013/2014 actual_lu _'Ucash donatloml~aseby leadtf$h19 ""- The forecast revenue ror year end10K over 2013/14 actual ltam sits at 112" of2013/2014 actual

rtlUtlS Le. an lncl'Nse by~J

Ensure COits are effeetl'iely Inltlata I two yNrIyr~_ ......miNCed to ensure the hlch of proc:as rnappina to ~tllmS/ OI'ltrlct p~mapplrc stlrted onvalue use and minimll wastt IdentlN time and ~"""Six" -1\ ?~port "'!'''Ins! SOI- r .hr: ,-I 20

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Financial Commentary

Key Result Indicators as at 31 December 2014

Third hay Reven". 2P14115

EJ(excluding Collection Movementa) ---•• 101I--..00.000

5700.000 ...-5800.000

./ ./5000,000

S4OO.000/'

..00.000

S2OO.000 ~$100.000 ~

'"... ..,."" cJ> ......... ., ,J> # ~ ..... ,#

Operating Surplus 1(Deficit)(Excluding Collection Movements)

$40.000

11-$20,000

SO T 1..$20,000

-$40.000

-$60.000

4&1,000

-$100,000

Actual Actual Budget ForecastVur31 Dec 14 31 Dee 2013 VearEnd End

Third Party Revenue (excluding Collection Movements):

Year-to-date Third Party Revenue, including interest revenue is $219k compared tobudgeted S328k ($109k below budget). The variance is due to a combination of timingdifferences recorded in sponsorship/grant revenue area and actual decrease In revenuefrom Holiday ProgrammelLeaming and Shop sales, postponing of "Sunlighr exhIbition,slightly offset by an increase in Touring revenue and increase in Interest revenue.

Year-end Third Party Revenue is forecast at S639k versus a budgeted S753k (I.e. $114kunder budget), mainly due to decrease In forecast revenue from Admissions and Touringexhibitions due to postponing the opening of ·Sunlighr exhibition to March 2015 andre-programming the "Dust Devils· Exhibition for December 2015.

Operating Surplus! (Deficit) (excluding Collection Movements):

Year-to-date operations show a surplus of $4.6k versus a budgeted deficit of $101 k.. This ismainly due to timing differences in revenue correlated with actual significant savings Inoperational costs, mainly due to postponing two significant exhibitions (·Sunlight"' openingdeferred to March 2015 and -Dust Devils· postponed to next financial year) and recordingsignificant savings in occupancy costs (decrease in insurance and energy costs).

Year-end forecast net operating result is a surplus of S29k versus a budgeted deficit ofS84k. It is estimated that around $26k In direct labour will be capitaUsed to the ·Sunlight·project rather than being expensed this financial year. The forecast net operating surplus isalso the result of capitalising the direct costs in relation to building the ·Farewell Zealandia·exhibition for touring, due to current expressions of interest for touring from various venuesaround the country, as opposed to having this exhibition as a one off show, as initiallybudgeted for.

2

52

Untaqqed Reserves

$120,COO 1 I$100.000 __

$80,COO I I$6O,COO

$40.000

$2O,COO

SO

420.000 j LJj_,COO

Untagged Reserves:

Year·to-date untagged reserves are positive S66k. mainly due to income received in advance todate and not spent {i.e. NZ lotteries Grant received in advance to fund the Farewell Zealandiaexhibition whose opening Is planned In April 2015.

Forecast Year·End Untagged Reserves are negative $32k compared with budgeted positiveS20k.. This Is mainly due to a reduction in forecast third party revenue below the budget (referabove).

This level will need to be managed through tight expenditure control in both Operational andCapital Expenditure and continuous effort in sourcing additional third party revenue.

A£tua131 ~I 31Dec 201. Dec 2013

BudgetYearEnd

Foree.5tYearEnd

3

53

T..._ .......II.... T....I

S-",.m of Comp...heM..........n__ 5o;pe....",.. (_...~d-:petISU~,......,

Fot ... ~.-.ded31!'W ,boo,201. - ....."" IlIldg.1 YTtl ""ri..... "'1,•• I,L Fo.._l -, ""n.1ICI :Nl Ju.ne 201.)1_0-1. 31..a.0-1. )1-Dec.U ........" .........·1.

12 .._.......... .......... r•• .31 .;." 2tm ,.... .......• • • • • • • •

I~.

PNcccnnts l,'8Sl,289 1,468,28ll ~ 1,"'48,150 2,13a.5n 2,9311,517 ~ 2.892.300kl.rht 1t1Qlr.ed , 20,158 11,400 " .. 13,807 >3.'" 23.000 ,.." 29,825OS1e,lnQ:Ime • lH,flO2 316,Slll3 (118,061) 271,4451 l505,20ll 129,761 (124,542) 593,.36

lobl __1,11I,341 1,m,552 ('t09,J02J 1,73t.406 3,517,313 3,691,321 (11J,HSj 3,515.561..........

""'", 1,014,&aa 1,038,757 (>2.069) .. ,.. 2,071.896 2,057,1113 11.M3 Ullll,928

-..... • 5OO,i13 676,719 (117.806) 678,961 1,100.ln 1,335,138 P34,lllU) l.281,849

~.~l 50 ~ " ~ eo · 50 ~

PNCC l.N5_ & SU'li 00.... 00.... 0 00.... 'I,~ 51.373 ", 51,373........... 5 127,<W2 142, 102 (1•• 700) 135,e60 296,077 291,321 (5,250) 267.300.....lwta-ofIs · · · . . · · ~

Totlil ElIpellditln 1,183,750 1,nl,264 (214.S14) 1,759,57S 3,I4l,151 3,775,7.7 (2V,5H) 3,511,530

~~tlng ..".../(Dtlleltj ~... (100,1121 105,211 f2O,lll) 29,212 (14,.211 113.'33 .,0319lIf_ u..-uaJ /II;'"

ee..e!ion Mo..-m.nt Inc:orn.CU.lodL.I ....e~ ~ 2.600 !?-600) 17,035 5.000 '....OO-<"'n 18.211 10,000 8,2ff 11,849 '" '" ".000 1~ 192 "5,451

Collection Mo..-m.1ll Expe... · ·Cw1Ddial Aluts Rill",,*, · · · (2. "'"

. · ~ 2....Coo.c:Iotl AI.ets Oeeoc:ellloned · · ~ ('20) ~ · · 16'Net CoIKtion U-m.nt8 1',211 12,500 S,111 11,5711 '2.'" ".000 zr,'121 42,338

"'1 '..,..../lOefit;itl • 22,810 (81,112) 110,9'12 (10,590) '1,43S (59,.21) 141),NO 46,369

OCher CompRllI.."", RI ...1'IUIi and ElrplMI · · ~ ~ ~ · ~ ~

leol Comprelllllll;" Re..._ and ExpellH 21,.10 (11,112) f10,922 (10,5llO) '1,43t (59,.21) 140,tfO 46,36t

1ll~ occomponyinQ notes form port ot. and are to~~ In conjunction with, IMH financial slot~ments.

4

54

TI Min_I I""'''UIIII Trust

.stat.mlntofCompr'h'l'ISlve Riewn'" and ~ndltu~fi:r •• Il'I:If'h IIlIMd J1 0iIettltlIr 201'

(cI..uilf~01tJrpMsel byAIncfoIlJ

""'_ Actual YrD BudgetYTD Variance Lutyea,S1.(lee-14 S1-Oee>14 31.(lee-13Unaudited UnaudllDd

• • • •Income

PNCCGninb 1,469,289 1,469,289 · 1,+48,150

Heresl Recehecl 1 20,158 11,.tOO 4758 13,807

""'" """"" 2 198,902 318.Sl83 (118.061) 279....

Total Income 1,688,341 1,7'97,652 (109.~ 1,739,406

Exponditunll

AsSN & Syslems 473,595 502.897 (29.302) 534,371

People & Partnntjp 401,553_eeo

(51.307) 414,189

Concepts & El"QlICI8Fl'lll 377.... 413,m (96,193;1 393,128.."""'" 303.617 32"'28 (23,011) 282,229- 5 127,402 142,102 (14,700) 135,660

Total 1,683,750 1,_.2&4 (214,514) 1,759,575

Opflnlting SurpIU;(DefidO ..... (100,612) 105,211 120,169)

Collection Movement Incom.

Custodial Assets . 2.500 P-5OOJ .Donated Assets 18,211 10,000 3,211 11,849

Collection Movement Expense ·CUstodial Assets RetunfId - · 2..50

COIectlon Asseta Deaceeslloned . · 120

Ntt Collection Movemsnts 18,211 '2.500 5,111 '.5111Net Surplu;(Deficit) • 22,810 (1&,112) 110,922 (10,590)

OtherComprehllnslw Revenue and Ex e. - - · .Total Comp"hemiYe Rewnus and Ex .. 22,810 (10,11 110,922 10,590)

The accompanying notes form part at and are to be read in conjunction with, these financial statements,

5

FotWca. Budget Variance 30 June 20143O-Jun·15 3(hJun·15 12 Months

" • .t:fl".llI"iI (SOl) Audited

• • • •2,938,577 2,938,sn · 2.892.300

33.577 23.000 1~577 28.825

606,209 729,751 (124,542) '9:<438

3,5n,3M 3,691,328 (ff3,964J 3,515,5151

976,612 975,814 798 1,040,862

857.735 891,807 (33,8711 903,978

183,!599 941,S41 (183,"42) 892.830&44.12i 8159,-460 j25,331) 805.680

2M,on 291,327 (~250) 287.380

3,548,1!52: 3,n!5,749 (227.597) 3,511,S30

29,21% (14,421) 113,633 "031

17,035 '.000 12.035

3!5,182 20.000 15,1" ..,<5.-

· · ~850

· · 183

52.= 29,000 :l1.= _2."'"

81,431 (59,421) 14D,860 45,'". · · .

81,439 (59,421 140,860 45,'"

55

Te Manllwa Mlaeums Trust

Stlament of AnIIncial PoslionfI4 at31 December2014Description ...... Actual YTO BudgetYTD Variance Last year

31.Qec·14 31.Qec-14 31-Dec-13

Unaudited Unaudited

$ $ $ $

A.....

CurrentA.uetl

Cash and Cash Equivalents 10 1,011,183 929,794 81,389 n8,48!5

Sieck ofMerd\lndlse 42,868 37,000 5,868 «,630

Debtors and SUndryReceiwbl•• - Edtange 21,276 35,000 (13,724) 10,692

Debtors and SondryRecei\Qbles - Non EJdlange 83,432 700 82,732 19,181

Total Current Assets 1,158,759 1,002,.494 158,265 852.988

No".current A.s.sets

"'formatlon Technology 24,458 12.;373 12,083 18,528

EJIIhlbitions 553,565 568,590 (14,725) 713,064

Fumiture & FiUlngs 71,868 76,849 (4,981) 85,039

leaseholcllmprn-.ements 96257 104,396 (8,1311) 117,,595

Plant & Equipment 133,917 137.821 (3,904) 152.078

Conection JIre.elll • Owned e,S42,4ti6 6,818,211 24,255 8,779.652

Coftedton Assets - Custodiar 6,547,537 6,552,537 (5,000) 6,548,337

Wol1lln Proa~•• 115,610 - 115,1510 '8_Total Fu.ed Assets 14,385,976 14,270,777 1iS,119 14,.432,853

otherNo".cunNnt.Assets

Intangible I\$se" - Software 12,037 9,507 2,530 11,847

Total N~CurrentAssets • 14,398,013 14,280,284 117 721 14,.«4,500

Total Asseta 15,556,771 15,282,778 273'''4 15,297,.488

6

Forecast Budget Variance 30 June 20143IhJun-15 3O-Jun·15 12 Months

ru6tJ1JIIt.aol!lJ (SOl) Audited$ $ $ $

713,028 785.777 (52,749) 991,996

37,000 37,000 - ",-700 700 - 20,482

3"'00 35,000 - 57,174

785,728 838,.477 . 1,114,596

29,843 29,485 358 13,586

895,555 614,425 281,130 636,578

85,214 84,900 314 78,025

99,711 127,317 (27,606) 106,063

133,270 148,232 (14,962) 140,567

6,858,211 6,835,793 22,418 6,813,211

6,599,7&4 6,558,337 41,427 6,547,537. . 55,130

14,701,568 14,398,.489 303,079 14,390,697

16,535 22,832 • 6,197 9,900

14,718,203 14,421,321 296,882 14,400,597

15,503,931 15,259,798 244,133 15,515,193

(Continued on the next page)

56

Statlt_nr d. m.f'Il:lal ,.tiof\As ... 31 DK:ambef2014

05'....(53.258)489...77416.221

FO~Ci..t ....... VMI_ 30 JUI'Ml 201.30·...11"'·15 3(kJUlt-1S 12 Months....".-... (Sa) Audited

• • • •

160,000 'SO""" 0 ...-le7,OOO 117,tIOO · "';531.....' ."',. 50' 4Utl

· . · ·sa',SOT 36'.000 50' .......

· 0 ·· . · ·

SO. , "9 00 "" ..,10,51"'50 10,41& 141 10UOi 10,315,0&5

'1,4311 {SR"nRI 140,858 .....'4,371.603 4.371M3 · 4.311.603

150.133 153,225 R,3t2} .......10,5" '.2"e 1 351 ,...

151U " o,nl 243 2. 15 , •11,5(13 31 ".25t,ne 2441" 15 15 '.3.. ~ ._. ....- .~..~_.

.~----W;rt\rIf capjtli &77,712 lS84,Me (UOG) ~1,52t

TIlt'! ocromponylng note!. fOTm port of, and are la be trod in conjunction WIth, 'lieu finonc1cJ1 statements.

OH,_ - -"YI'O Budg.tYTO V"""~ Lasty..,

3100el>14 ~1-OlIc.1. 31-0.0-1)

Unudlt-d Unauca.d

• • • •Uoo_

C<mwoIUob-.

Ct'lClitn, Pnloiliont. p.bIe- 153,1)1 leo,ooo (6.M9) HUt7

EIIIpq. LiIIliiIe$ 13<1,8'3 115,906 1&,707 10'''''GST '"¥bill (R~""l 57"" ...... 15,eO "'"w.om. fecaI\ed in w..no. 1)5.390 . 135,3_ ·Totti C/,I".""liabiUu 4'0,117 317.eol 163.071 301....2

Nl»Cum:nll.iebDhlN . . . ·Toill~u.tIJIIlIIe. . 0 0 ·etal tJ.blIitiD. 4.0..n 317 tolS IllS 71 301 '2

Eo""Trvsle..ily 10.H2.,1U 10.362..-:w (251) 10.413.... ,

R,lIInm SUrplus Cunent~ar 22..10 (18.1131 110,123 (10,590)

i-HlRr.elua1onR._ .,371,602 4.:1171.&03 ") 4,37',&02

SpedkRft_ , .." .. 309.14' '50 .......Endowlnenl Rmds • .... '699 • ',34&

TotJIT".tFUl'ds 16 75.n4 " 12 110 22: 1..... 2C

TDIal UlbiIli6es andnwll'Unds 15558 771 15 una m ,"

,

Fot and on behDlfoj the Soard ~ ~

ChairmanDate

26 Februory 2015

7

57

Te ~N1W. Museums TrustStatement ofCa$h Rows

Fa sk Il'I)l'lIhs eD1g 31 DtIcentIer 20'"ACI ..~1 YTO Budg.t YTO V.r1.IIC' ~It ,.ar

DlScrl,,"I" "'1111 I~O.c_'14 1'1oDIC''14 11-0.c·'Qu".udll.d UlIlIlldhed

• • • •Cash Rowa from Operating Ae:tfvlti..Cuh w.. provi;led front

I'IIX"""" 1.48i.289 1,-489,289 - 1.448,150

"""' ....... 2&1.134 385.195 m.(1) 320.826_.,1i.M3 ,,,.. 7.315 '~962

1.11'._ 1,lt"Il.S52 (69.7-48) I.I"'t,f~

cash was distusecl to:..,... 3 1.0<t5.401 1,018,1112 (40.776) lllI7.3llll- 4 ....226 783.0411 (175,185) 7i1,645Dr '*PI_a R'I:ject - - . -NIl. GST Outtbw (hflDW 1 (3Z24) 1.'" (11.0221 (1.051)-., " - SO

~~ 151~""I C..h Rows from OperaUn;~Ic.sh OWl Trom In....sUng Ae:tMtI..Cah w.. provided from:SilIll f:t flsnts - - - -CMh w .. dilblned kl -~ of hlangilII:As'" • Softw.. S.851 "000 (12.,1049) -F\ln:haM of F\'tIperty PI.m & EiJ,lIptnent • 63.'" 16,362 1"" 48.531~ cl caIection AlMIs 11.04-4 - 11,044

~'"N.tC"h~$from nv.. tingAcIMU.. (108,150) ()2,362) (15,788) (11,.422)Cuh Rows from FlNncing Adivltl.. - -N.I Cash Rows from An.ncing ActMUes - - - -NBl ~W{0ecfeese) h CUh HIIid 111.187 (~202) 11,389 (52,971)~Cuh ea-.ntes 991,iilS .1,11'116 - 831,-463

Closin Tau. Cash Bllances 10 1,011,113 "'.- ,,- m ....

The accompanying notes form part at and are to be read in conjunction with, these financial statements,

8

Foricall ...dlll! -v.rf.iKl 10.1.._ 20M

n-.lU"-. JD_J ..,,". 12 Mo"I""(MM.J1'JM2IlJl;l ISOI) Auditld

• • • •2,nI.m 2,931.511 2,,8Q2,SOO

1)1,Q2SI 729.751 (98,722) 522,1"34.545 23,000 11,545 28,766

1.328 (87.1

2,078,227 2.081.224 10,003 1.aa2.1011.2....124 1.-i07.!i16 (181,452) 1.288,-432

'.2" 1= (1.ll83)

" "

10,501 ,.000 "480)463.... 181,862 31".0931 59.118

".000 ".000 20.000.... zztllQ m.5!lOl( '."" J (328.594 In

(Z78,9lSa) (1.334) (271,634) 160.533991,998 713,111 218,185 831,-483

713,021 1u,m (52,74:9) ..,....

58

Selected Explanatory Notes (Commentary)

1. Interest revenue

Actual interest rate of 3.8% to 3.9% on short term deposits compared a budgeted 3.S%.

2. Other income

Year to date Other income below the budget due to decrease in revenue from Holiday Programme and learning, drop In revenue from front of house,

postponing of -Sunlight" exhibition, slightly offset by an increase in Touring revenue.

3. Payroll expenditure

Actual year to date below budget as most of the vacant positions were filled during the first quarter of the year, following the organisation realignment that

came into effect on 4 August 2014.

ActuillYTO BudgetYTO Vaflllnce Last year Forecast Budget variance31-Dcc~14 31~Dec~14 31~Dec~13 30-.lun-15 30.Jun-15Unaudited Unaudited (u.31JMl2CIS) (SOl)

P.yroll costs S S $ S $ $ $Assets & SYSIeITll" 191,013 170,127 20.886 262,335 389,178 348,771 40,407

F80pIa & Partnersh~ 322.706 322.498 208 253,520 641,076 629,149 11,927

Concepts & 6'lgagerrent 299,008 29"'34 17. 217,984 618,799 599,398.00 19,401

EXecw.,.e 213,515 245,298 131.783) 170,449 456,843 490,596.00 (33,753)

Tobl Payroll 1,02&,242 1,036,757 (10,515) 904,2" 2,105,896 2.067,914 49,910

less Ilrect payrol.ctded to Sun~ht11,554 - 11,554 - 26.000.00 - 26,000-Total Operational Payroll 1,014.688 1,036,757 (22,069) 904,268 2,079,891 2,067,914 75,910

• Acuill year-to -dlte and Year-End Forecuc includes iDcreae iD Annual Leave aa:rual for the \1bolo orpniwion

9

59

4. Ope~ti"lelCpendiWre

Slinlflc.lnt savings in energy (S21k) and insurance ($18k) upe:ndlture to date. Also, s.JIvlnss In costs due to a few elChibitions being postponed to the nelCt

financIal years ("J8 Ford" .lIld "O\lst Devib'" elChibltlons), as a result of ildditional reselrch required .round these.

5. Deprec:lmoo

Postponina the completion of "Sunll&ht'" aplt.JI project, due to lila of funding, r~lted in depred.tion ye.r-to- date Io~r than budgeted.

6. Fbtecl As.set Additions - At 31 December 2014

636,518 3,620 86.333106,063 9,806

13,586 16,643 5,n3

Clo.ng book value30 June 20141Opening book glue Additions to1 July 2014 _~1 Dec 2!H'L_Oi...¥~ls Deprecl.t1on.....-

'--dlold lIcprovemenuW_ionT~

L-.l ....I'lIrullrC a. fil:tir4\l---PIlnl: ~ Eqmpme:uCoIIlaIoftS MscU' 0w00cICoIIeaicla asclS- CUslodltl\\'Oft ~ pl'OfilUl

78,025 .75

140,567 10,0926,813,211 29,2556,547,537

55'30 80.480

14,390.697 120,9639,_ 3,850

7,032

16,742

00$09Imp.inn.nt Bookvalu.Lowes 31 Dec 2014

553,86596.25724 458

71,868

133.9176,842,4686,547,537

115,810

Th. year-end "Pun:hase of Property, Plant and Equlpmen~in the Cash Flow Statement Indude5 the blJlld of "'Sunl~elChibition (Qmed forward from

last financial year).

10

60

61

9. Reconciliation of Net Surplus/(Deficit) with Net Cash Flows from Operating Activities

.-vr ~'''''''UI1I1''el1Uu,y .;>' ........."'utlI' ""'" ,..Description .... Actual YTD BudgetYTD Variance last year

31..Qec·14 31-Dec·14 31-Dec·13

Unaudited Unaudited

$ $ $ $Net Surplus/(Deficit) 22,810 (88,113) 110,923 (10,590)

-Deprecialion and Asset 'foII118 Down 127,402 142,102 (14,700) 135,660

Other Non Cuh Items (18,211) (12,500) (5,711) (9,.579)

132,001 41,489 90,512 115,491

Add(deduct) movements in otlrerworlcing cap;'" items

Change In lmenlory 2,075 7.... (5,869) 1,301

Cha~e In Deblors, Prepa~ents and SUndry Rea 19,623 40,988 (21,365) 39,876

Change in ntarest RecelWlb'e (475) .., (1,443) (84S)

Change in Trade CrediIDrs, Pro.... & PayableI' 1,609 (64,006) 85,615 (71,998)

Change in Empl~ UabltJlles (30,719) (49,425) 111,706 (63.038)

Change in Interest Payable - - -Change In GST Payable (Recelwble) 3,224 (7,798) 11,022 7,657

Net Cash Aowos from Operating ActMtills 127,338 (2lf,840) 157,178 2'.....

12

Forecast Budget Variance 30 June 2014

3lhIun-15 3O-Jun·15 12 Months

(NIIJ1J...2l'1lJ (5011 Audited$ $ $ $

81A39 (59,421) 140,860 46,369

286,017 291,327 (5,250) 267,380

(52~2n (25.000) <27~27) -42,338

315,289 206.9Oll 108,381 271,411

7,944 7.... - 987

17,876 40,911ll (23,112) ~,464... ... - -1.060

(64,006) (35,151) (28,555) 10,156

1,669 1,669 - -1,979

- - -(7.252) (7,798) ... 1,963

272,.481 215,5211 58,9110 273,794

62

10. Statement of Cash flows, Cash Balances and Reserves

.... AcbJalYTD BudgetYTO Last year Forecast Budget 30 June 201431~c-14 31~c-14 31~c-.13 30...Jun-15 3O-Jun-15 12 MonthsUnaudited Unaudited (BS at 31 Jan 2015) (501) Audited

$ $ $ $ $ $

ctosing Bank BaLance 1,011,183 929,794 778,485 713,028 765,777 991,998

Represented By.cash Commibnents:Suppliers and SundryPayables 288,521 160,000 141,697 160,000 160,000 247,079EmplO)ee Entillements 134,613 115,906 104,273 167,000 167,000 165,331GSTPayabJe 57,843 42,000 55,492 42,507 42,000 49,796

480,977 317,905 301,462 369,507 369,000 462,208Les. Operating cash Recervab6e:Customers and SUndryRecei\ebles 104,708 35,700 29,873 35,700 35,700 75,982GST Receivable - - - - - -

104,708 35,700 29,873 35,700 35,700 77,650Endowmenl RJncIsClewlyFund • 9,e99 9,699 9)48 10,599 9,248 9,699

1,619 9)48 10,599 9,248 9,699SpilCific Resef\18SExhibition Re\fl:an..tion JDe'<elopment Fund" 238,416 238,415 100,000 100,000 100,000 238,415Collection Dewlopment Fund·" 51,752 51,752 34,144 31,752 34,144 51,752HtslDl1cal Building ....Intenance Reseroe 19,081 19,081 19,081 19,081 19,081 19,081

7 309,249 309,249 153,225 150,833 153,225 309,249

Worklf'l9 Capital Provision 250,000 250,000 250,000 250,000 250,000 250,000Untagged Reserves 65,965 88,339 94,423 (32,311) 20,004 38,492

Total 1,011,183 929,794 778,485 713,028 765,777 9",998

13

63

Notes to the Interim finoand~llUItements

1 Stiltement of Accountinc Polldes

REPORTING ENTTTY

Te Mana~ Museums Tn.rst (the Trust) Is a charitilble trtlst incorpo....ted In New Zealcnd under the Charitable TrumAct 1957 and is domoclled In Newu.l.nd. TheTrust Is controlled by Palmerston North CIty Council and is a Counc" Controlled Ollanisation as defined under section 6 of the LOCal Government Act 2002, by virtueof the COul'dl's right to Oippolnt more than 50" of thl! soard of Trustees.

The Trust W,IS Incorporated on 20 August 1999, from that date, the Trust assumed responsibility for art works and heritage assets t....nsferred to Its c:are but held onbehalf of others. from 1 July 2000 the Trust commenced lelllfll the premises and milJliliifll the institution under agreements ente~ into wIth the PalmerstonNorth CIty Coundl. The prindlMl pla~ of business Is 32&-336 Miin Street. Palmerston North.

The primary objective of the Trust is to pnMde lnterKIive experience in an. science and history through acquiring.. «Inservirc. researchlnc. developing..communlcatlna ~nd exhiblllni material evidence of people and their environment, r.nher INn making a commercial return. Accordingly, the Trust has deSignateditself as a public sector public benefit enllty for tM purposuof Public Benefit Entity Accountlrc Standards (PSE Standards).

The interim financial statements of the Tn.rst are for the Six months ended 31 Dea:mber 2014 and were approved by the Board of Trustees on 26 February 201S.

BASIS OF PREPARATION

Statement of COmpliance

The interim financial statements of the Trust have been prepared in accordance with the requirements of the Local Government Act 2002, which includes therequirement to comply with New Z!aland Generally Accepted Accountinc Practice (HZ GAAP).

ThMe intenm financial statements Nile been prepared In accordance with NZ GAAP. They comply with Interim financial reporting standards and other ;appllcableflnanclal reporting ~tandards, IS appropriate for public sector public benefit entities.

Measurement 8ase

The meuurement basis applied is historic.Oll cost. modified by the revaluation of collection Issets as identified In this summlry of signlflGtnt accounting policies. Theaccrual bills of KCOuntHl( has been used unless otherwise stated.

"

64

Functionllind ~ntationCUrrencyThe interim "nlncial statemenu ere presented in New Zelland dollafli and illl Wllues are rounded to the nelreSl dollar. The functional currency of the Trust is NewZealand doflm (NZ$).

Chimges in ActountillJ Pollcles

From the Velr commendnll July 2014 I new AccountillJ Standards Framework developed by 1M External Reponing BoIrd is Ipplicable to PubliC Benefft Entities,reptadng the previously Ipplied standards with a new suIte of P8E account!nl standards. This fr;Jmework incorporales a tier StrUcture with the Trust duslfled bydefault IS I ner 1 reporting entity required to IPPIy full Public Benefit Entity Accounting Stlndards. Standards developed Ire based on current Intematioml PublicSector AccountIng Standards. The Trust has ldopted the new standards from 1 July 2014 with the new standards not requiri"llny matenal adjustment within theInterim flnanelll statements.Other than adoption of the peE ilerount!n. standards there have been no c~rces in accounti"l policies dun"l the financial yeilr.

StilndilrOs. ilmendments, and InterpretatioM lulled that Ire not vet effective and have not~n urty ildopted

There ilfe no stilndards, amendmenu, and Interpretations, Inued but not yf:t effecti're thai have not~n earty adopted, and whk;h are relevant to the Trust.

SIGNIFICANT ACCOUNTING POUOES

RevenueRevenue Is measured al fair value of consideration received or receivable.Revenue m~ be derived from either exchlnae or flOf'l-ellchange tnmsactions.Revenue from NOn-eJlchanle transactionsRevenue from non-exchante tra~ctionsarises from tnmSolctlons thilt ilre not exchange transactions. In non-exthange transactions, the Trust either receives valuefrom or lives Villue to another p.;lrty without directly gMl'lI or receivina approximately eqUlI value in ucNllIe.

Approximately equal value Is considered to reflect iI fair or market value, whIch is IlOrm.11y commensurale with In arm's Ienath commercl.1 tranQction between iii

Willi", buyer and Wl16nc seller. Milny of the Jervk:es that the Trust provides for. fee are eharaed at below martet value IS t~ are subsidised by PalmerstOfl NorthCity Council operationll lrant, sponsorship, Government/non-Governmenl granu. Other selVices operate on a cost recollery or breakeven ~sis ilnd ilre notconsidered to reflect a mlrket return. Most of the Trust's revenue Is therefore Ciltegorised IS non--e~lI&e.

This includes PNCC granu, transfefli fTom IOllernment/non""lOVernment entities, donations, donated/vested ilnd custodial collection Items, sponsorship, In kind~rship, revenue from services S1Jpplied at wbsidised price.

SpecifIC accounting poliCies for major catesories of revenue from non--exch'nte transactions Ire outlined below:

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GrantsGrants receIVed from PNCC are the primary source of fundine: 10 the Trust and .re restricted for the purposes of the Trust meetinc Its objectives: as specified In theTrust's trust deed. The PHCC lrant Is recoanlsed.s ~enuewhen n!ceived.

Revenues from non-exchange transaetl(ms with Council/other govemment/non<jovernment entities are measured at Rlr ~Iue and recoanised when the eventOCCU~ and the nset rec<lV'ltlon criten. are met, if the transfer Is fr_ from conditions and It Is probable that the economic benefits or:servlce potential related tothe asset wlll flow to tht Trust .nd ClIn be measured reliably. To the extent thllt there 1$ a related ooOOltlon attached that would give rise to a liability to rep.y theamount. deferred income Is rKosnised Instead of revenue, and recognised as revenue when conditions of the lrant are sUlsfied.

Rendering 01servicesRevenue from the rendering of services where the servloe provided is non-exchenge is recocnise<! when the trlnSilction occurs to the extent that a liabilitY Is notalso recolnlsed. For these traflSKtiom the rew"ue Is reeoanlsed by reference to the stall' of Ulmpletion of the traflSactio".t the reporti"l dale.

Within renderil"ll of services the Ollty revenues considered to be exchange revenue are from Venue Hire.

Vested AssetsWhere a phVSIaJ asset Is lifted to or vested In the Trust for nn or nominal comideration, the hir Villue of the asset re<;eived Is ~gnised as Income. SUCh Income isrecognised when control over the Isset Is obtained.

'In Kind'SpotIsorshipThe Trust receIVes sponsorship 1n kind' by way of goods and services provided at discounted or nil charge. Where the ""Ir value oflhese loods and services (In berellilblv mealUrvd, the Income (.nd expense) Is recognised as 'spon§O~hlp·In kind' in the period In which lhe loods or services are received.

Volunteer~rvlcesVolunteer services rece~ are oot recosnised as revenue or elq)e~itureIS the Trust is unable to reli..blv mealUre the ~Irv,,'ueof the servicesr~.

Revenue from ExcNonce t1ans;Jctlons

SGks 01 floodsRevenue from the sale of IOOds Is recosnized when the slgnlflOllnt risks and rewards of ownership !'lave been transferred to the buyer, usually on delivery of Iheaoocls and when the amount 0' r~nueOlIn be measured relilbly and ills probable that the economic benefits or service potefltial Issooated with the tnnsactionwill flow [0 the Trust.

Inrerest InaJmelnteresllncome Is recoan1sed uslna the effective Interest method.

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Borrowi", CostsInterest expenS/!: is recocnlsed using the effective Interest ~te method. All bonow\rll costs Ire expen50ed In the period in which t!'ley are incurred.

Depreciation and amortlQUonDept«iatJon of property, pl,nt and equipment.nd ~rti5OIItlonof intllJ1&,ible '»eU are ch'fied on I straiJht-line bOIIsis Oller the ntlmated useful life of theusocillted assets..

......FinoM:e UOies

Afinance leaS/!: is a Ieil$ol! that transfers to the lessee substantially 111 the risks and rewards lncidental to OW'leoolp of an '»et, w!'lether Of not title i5 eventuallytransferred.

At the commencement of tIM! Ieilse term, flnlnce IeIS/!:S are recos:nl5ed.s a»ets ,nod liabilities in the: st.tement of financ::ial position at the lower of the falr lIillue ofthe leased Item or tl'le present IIillue of the minimum lease payments.

The finilnce charge is CMf1;ed to the surplus or deficit Oller the lent period so.s to produce il constmt periodic ~te of intel6t on tIM! remainmc bOIIlilllCe of theIlilbrthy.

The .mount recognised lIS an ilS5@tisdeprecllJte<fOlleritsusefulllfe. If there is no certillnty as to whether the Trust will ob~ln ownership at the end of the leaseterm, the .sS/!:t is fully depreCiated over the shorter of the Ieue term.nd its useful life.

Operorlllg LeasesAll ope~tlO£ leil5e is illellSe thilt does not ~nsfer substantially allihe risks and rewards Inddentill to O'o'IMBhip of iln il5Set. leise payments under an Oper<lltirclease are recognised as an expense on, stl1lisht-line bOIIsis Cl'ler tt\e leil5e term.

leilse incentives receiYed ilre recognised In the surpllJ5 or defklt Oller the: lease term IS In integral part of the tot.lleaS/!: expense.

Cash Ind cash equivalentsCuh.nd c.sh equivalents indudes cash on hand, deposits held et cell with banks, other short-term highly liquid Investments with orialnil! matunties of threemonths or less, and Dilnk overdrafts.Bank overdrafts ilre presented within borro'Nlnp IS it rorrent liability in the statement of financial position.

Debtors "ld other receillabl«Debtors ilnd other rece,...bles ire inltiilily me.sure-d ilt fair value .nd subsequently meuure-d ,t .mortised cost uslna the effeetllle interest method, less "IIVprollislon for impairment.

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A provision for impairment of a receivable Is established when there is objective evidence that tile Tl'\lst will not be able to collect .mounts due according to theo"'nal terms of the raceivilble. SiCnlficant financial diffICulties of the debtor, probilbility that the debtor will enler Into bilnkl'\lptcy, rKeivershlp or liquidation, anddefilult In p;ayments ilre c:onsidered indicators that the receMble Islmp;aired. The amounl of tile Impairment is tile difference betwee'n I~ aster's Clnylnc amountand the present value of cstimilted future elIsh flows, discounted usina the orilinll etfl!divl!! interest rale. The carrylnc amounl of an impaired recelVilble isreduced through the use of iln allowance account.. and tlte amount of the Joss Is recollnised In the surplus or defkit. When the receivable is uncollectible, it iswritten off ilgainst the allowllnce account for recel'nbles_ Overdue reeeivableos tl'lat h.ve been renegotiated are redilsslfled as current (tMt is, not pIIst due).

InventoriesInventories held for distribution in the provision of sel'Vices Wt are not supplied on a commercial buls are measured at cost.. iIIdJusted when Ipplic.illble. for anyloss of service potential. The con of inventory is determi~ IJSinc t!'le fim-in first-out method. The loss of 5ervk:e potentlal of Inventory held for distribution isdetermined on the basis of obsolescence. Where Inventories Ire Icquired al no con or for nominal consldentlOn, the cosiis lhe current replilCement cost itt thedate of Kquisition.

Irwentones held for use In the prOViSion of loads and servk:es on I commerdal bilsls are vall.led at the lower of COst or net realisable value. The cost of inventory isdellmnilled using the f1rst-ln f1rst-out method.

The amount of any write-down for the 10$$ of service potentIal or from cost to net re~cemenlvalue is recoanJ$ed in the sUl'p11J5 or deficit in the year of the Wlite­down.

Invest:ment5Investments in bilnk deposit5 illre initially measured at fair value plus Irilnsaction costs (if anyl.

After Initial recognition Investments in b<ink deposits are measured at amortised cost usll\8 the: effective interest ratl.".les.s any provlslon for Im~lrment. Thek'ldlcators and~ accountlnt: for impairmrnt of b<ink depow is the same as exp~lnedabove for debtors and other receivables.

Property, Plant and EquIpmentItems of property, plant and equipment are st"ated at historic:ill or deemed cost, less aa:umulated depreclatJon and Impairment losses. Where p.1rU of an Item ofproperty, plant and equipment have different useful lives.lney are ae;tounted for as separ41te items of property, plant and tqulpment.

AddftJonsThe cost of an item ofp~, plant and l."qulpment Is rl!COtln!sed as tin tiSSl."1 only wlw:n It is probable thait.service potentlitllssoc:ialed with the Item wil flow tothe Trust and the cost of the Item can be measured reliably.

In most instaroc.es, an Item of property, plant Ind l."quipment Is lnltiilily recognised It its cost. Where In asset is ~uired at no cost. or for a nominal cost. it isrlfCOBnlsed at fairvatue when control oyer the asset is obUl~.

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l••E

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(c) RevaluationThe Art Co8ection alSets are revalUl!!d ellery three years and the Hf!ri~.eCollection .ssets every four years to ensure that their c.arryifll amount do6 notdiffer materially from falrVillue, AU other auet claSSM are carried at depredate<f historical costThe re$1,l/ts of revalullll Ire credited or debited to an .sset ~luatJon reserve. Where this results in a debit balance in lhe asset rewluation reserve, thi$balance is charJed to the surplus or deficit. A1T'f subsequent Increase on revaluatiOn thaI off-sets a previoiJS decruse in valUl!! re<xlCnised in a previous ye<lrsurplus or defICit. will be recognised first In the surplus or deficit up to the ,mount previously elCperued, and then credited to the: revaluation reserve.

lota",ible AssetsInt<lnclble useu all! shown al con-leu acc:umuli1ted amortiwtion and impairment iosses.SOftwor. AcquisitionAcquired computer software licef1$f:$ are caplttlised on the buls of the costs Incurred to acquire .nd bring to use the lpeciflC software. Staff trainin, costs lirerecognised as an expense when Incurred. Costs associaled with mainalnllll computer softw<lre are r«ognlst'd.s i1n expense when InCUrred. Costs i1ssodatedwith tile development and mainten<lnce of the Trust's website are recognised as.n expense when Incurred beause the website is primarily fat" promoMI theTrust's services.AmonisatiQflCOmputer software licenses.re amortised on. str.llght-lJne biisls over their estimated useful life. Amortisation begins when the i1sset Is available for use ar1dceases It the date that the asset is disposed of. The i1mortlsatJon cMr&e for each perlod Is rec.olnlsed In the surplus Of deficit.

The Htfmated useful lives are as follow:i:Software 1-7years

Impillrmenl of property, plant :lIld equlprMnt and iota~ble.Bets

For the purpose of impillrment of Property, plant ar1d equipment allCllntanglble assets, whidl are earned.t cost less accumulated depreclation.OO Impairmentlosses, the Trust diIlssifles its Items of property pliint i100 equipment 100 intl"llbles IS non-cash leneratlns assets, IS these are I"IOt tw,1d with the primary objectiveof geM!l'llItina a commerdal return, but rlther for service delivery purposes and to deliver to Trust's public benefit objectives. Property, plant and equlpment andintangible ISsets are reviewed for indicators of lmpalnnentannuallv. When there is In Indicator of impairment, the assets recoverable amount Is estimated. Therecoverable amount Is the hllher of an assets fair valU!! leu costs to sell and value In l.lSe.

Value In use Is depreciated replaument cost for an asset where the service potential of the auetls not primarily dependent on the asset's ability to lenerate netcash Inflows and where the Trust woukI, if depriYed of the asset. ~plaa Its remilinins service potential.

If an i1sset's canyilll.mount exceeds itS recoverable amount, the ISset is impaired and the carrylna amount is written down to the recovel'lllble amounl. The totalImpairment ioss Is recosnlSl!d In the surplus or defICit.

CreditOf'S and Other PapblesCreditors and other payables are initial!V measurt'd <It f.lir value and subsequentty measured ill i1morUsed cost uslfll the effective Interest method.

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Borrowinp

Borrowinlls ilre Initi,11y recolnised at their falrVililoe plus lra~ction costs. If any. After initllli reallnltlon. all borrowlnlS ,re measured at amortised cost using theeHectivEo interl!st method.

Borrowings olIre dusffled.s current liilobilities unless tIM! Trust hu an uncondltioul right to dl!fer MUlement of tIM! Iillbility for It !east 12 months after balance dateor if the bolTowings .re not expected to be seUIl!d within 12 months of bIlllnee dale.

Employee EntitlementsShort·t~rmfnt!rJetMntsEmployee entitlements that the Trust expeas to be settled within 12 months ofbalaoce d,te ani lTleiUUre<!;l:t nomin,1 values based on attn.led entitlllments alcurrent rates of pay.

These Include salaries.nd wages aa:ru.ed up to b.lance date, annual leave earned to, but not yet tlk~ at balancl! date, and retiring and Ions service leaveentitlements expected to be settled within 12 months.

Long-tl!'rm Enritll!'menf$Entitlements that are payable beyond 12 months. such as 10"1 service leave and n!tiring leave, have been calculaled on iln Idu.rial basis. The calcuilltions are!used on likely Mure entillements accruinc to st1Iff, based on years of service, years to l!'ntitlement, the like~hood Itlilt stilff wlll read! tile point of l!'ntltlement ilndcontnlctual entilleml!nts Information.P~ntotionofEmpJoyff EnrJrhmentsAnnualleavr.nd YeSted lone service leave are classified;l:S iii current li.bllity. Non-YMted Ione.servlce leave and retlrlllIleave expectl!d to be settled wfthln 12months of balilnce diltl.re clllsslfled.s. CUrr!nt nlbllity. All other employee entitJeml!nts Ire classified as a non-eurnnt Jlilbllity.

Pl'OVIslomA provision Is rl!GOCnised for future expenditure of uncertilin amount or limine When there Is iii present obfl8'ltion (eltMr lepl or constructivelu a result of a past~nt, it is probilble that expenditures will be required to settle the oblfiiltion and iI Il!liable estimate can be made of the amount of the oblliation. Provisions arenot realgnlsed forfutull! opel"ilting losses.

Provisions illl! fnl!uured at tl\e present value of the expenditurts exPKIed to be required 10 settle the obligation usifW I pre-tilx discount rate that reflecb currentmlricet asseun'll!nts of the time VilIlue of mon-v Indtne rlsb specific to the obligation. The Increase in the provision due to tM passagl! of ltme Is rtCOllnlsed in'f1ni1 nee costs'.

Goods and Semen Tu(GST)All items in the interim flnancill statements Ire lUted exclusive of Goods Ind Services Tax (GST), except for tr.Jde receivables and payables, which are stated on ilGST inclusivEo bilsls. Where GST Is not recoverable ilS Input tax then illS recolnised ilS pan of the related asset or@xpenSI.

The net amount of GST rKOYll"ilbie fTom, or payable to, the Inland Rewnue Oepilrtment (IROJ Is included as part of receivables or p;I'{iIbles in the statem~nt of

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finlnClll positiOn.

The net GST paid to, or received from the IRO,lncluding the GST relal1na: to Investlna: and nniioorw actIVIties, is classified as In operllti~ca~ flow in tM statementofashflo~.

Commitmenu and contlnsencJes afe disclosed exclusive of GST.

Income TallThe Trust Is exempt from Income Tax by vlnUl! of Its charitable status.

CritIcal Accountinc EstlmatlK and AssumptJonsIn preparing these interlm financial !>latements, the Trust has made eSllmates and assumptions concernlns the future. These estlmltes and aS$umptlons may differfrom subsequent IctuII results. Estimates and J,S$umptions ate continually ~IUllted and are based on historical experience Ind other factors, !ndudil18expecalions or future events that are believed to be reasonable under the drasmsta1'lte$. The estimales and assumptions tlwt MY'! a signifia,nt risk of causing amaterlll adjustment to the anying amounts of luets and Uabllftles within the next nnanc"-I yellr are discussed below:

P~rty, Pront and Equfpment lJsf1ul LlYn and Rnlduol Va/unThe Trust reviews the: useful rives and re.sklu.1 Qlues of iU property, phmt and equipment i1nnually. Assesslna the appropriaten6$ of useful life and resldual valueestimates of property, pllnt Ind equipment requIres the TruSI to consider a number 01 facton; lncludina Ihe physical tondition of the Isset, expected period of useof the asset by the Trust,. and expected dispoRlI proceeds from the future S<lIle of the nat.

An Incorrect e!>limate 01 the useful life Of residual value will impact on the depreciable amount of an asset, therefore Impactlnc on the depredation l/!xpensereC'Olnlsed In the surphn or deficit ilnd the anyinc amount of the asset in the statement of financial position. The TruSI minimises the risk of this estimationoncemlnty by:

physical Inspection of ilssets;asset replacement programmes;review of second hilnd mal1cet prlces for similar assets; andanalysis of prior asset sales.

The Trost hii.s not made slsnirlcant chances to past .Ul,lmptions conceminc u:sefuilives and residual values.

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TeManawaart science history PALMERSTON NORTH

DRAFT

STATEMENT OF INTENT

for

TE MANAWA MUSEUMS

TRUST

2015/16 - 2017/18

73

CONTENTS Page

~ Contact Details", "'"'''' """ """ ", "'''' "",, "'"'''' """",." """."."." ". """ ". ".". 2

~ Introduction""" "." ""."" ""'" ". ". """." "". ""." ". """ """". '" ",,,,.,, ". ",." """ 3

~ Our Vision, Mission and Values."",." """"""""""""."""" ".", ". """."", """". 4

~ TeManawa Trusl Deed Objecllves" "."" ""."""""""."""".""""""." "" "".""" 6

~ Key Sirategic Objectives" "" " ... "" ..""...." "." """"" ". "." ""."""" """"""""" 6

~ Key Issues",,,. ". ". ".""" ". ". " .. "". ". ". " ..... ,.". ". " .. ".,.". ". " .... ".,,,.,, " .. "". ". 8

~ Key Pertormance Indicators"".""""" "." """""""" ". """ """ " ..""""" " .. """" 8

~ Planned Acll'oities."." """ .... " " .. "". " .. ".",,,.,,., .. ,. " .. "."." ". " .. " ". "".. " .. "." ". 9

~ Governance Sialements"""." ". """"""""" ....." .......""""" ". " ... ' " " .. ". ".... 18

~ Signalures", ... ,.. "."•. " '"'''''' "',,' '" '" ".". " .. " '" '" '" " .. " """ ". ,., ,., ' " ".", ". 18

~ Budget: For the Years Ended 30 June 2016, 2017, 2018." "."""."."."" ",, """ 19

CONTACT DETAILSRegistered Office: Palme_ NOl1h City CouncI Legal Statu. TeManawa MUSlIInS Trust is a

Coooci-Coolroled OtganisalionCMc AdrrioiWalion Bollclng (CCOlror the purposes of the local

GovelMlOfll Act 2002 and operatesThe Square, Paknerston North 8S acheritable trust under Ihe

Charitable Trust Act 1957.Website: W'MY.temanawa.CO.nz It Is anol·for-profit ceo.

Phone: 1061355-5000

Email: enqJlnes@temaoCl'Na.oo.nz

Main Cont.ct: AlIUYUlwe Second Contact: John FOYt1<e

Role In ceo: Q;BfE_liYe Role In ceo: Chairman

Adcireas TeManawa MusetmS Trust Address: eJ- TeManawa Museums TlUSt

Private Bag 11055 Privale Bag 11055

Palmerslon North Palmerslon North

Phone: 06351-4492 Phone: 021466425

Email: andx·lowe@!emanawaco.nz Email: John.fowke@loyotaco.nz

Fax: (06) 353-3552 Fax: nla

Statement of Inlenl2015/1G 2017/182

74

INTRODUCTION

The pasl5l1 months Ms lIllen Te Manawa continue to WOl'k toward! OUf key slnlleglc objectives o(belngan orgIniUlion lhat arillUll to bec::ome men ....ri. fast on ks IeeIlI1d oammlKlity facing \Ioill.s1JtJng~~ IIllllo liscaI «Id Pl'OC'tI'~

n.s blows hi .-.cent reorgIf'IIsaIilllll II now selfrlg In kl piICI as .. new IllI6ershIp IHm beoIns ~WDl1l1OWlWds Ihe~.. 0( • nkaeum 'At!lcuI bl;und;rIeL

This llra\eVy has led 10 coIabol'lllDns witJ IoaII twl~ Te MwWll societies. edema! pries u:has I.4l1S1iey lJniver5i1y for. pro)OCt on suslaln'blt coillctm 5!llfll111 'nd IIle Saonce centre IIdo~1M n(lW SlI1l1gtlt emlbltlon,

The &.ri~tt IdlOtion has been. key locus /liS ~ JI'O'o'IS 10" dlYllopmel'll pIIM and wllh funcll~

IlICllIed 10 Clew:1op flo luie~~ t1g1Vbnl1Dlri:\g pOl8fltialll New ZNland Md O'tel'l.lfSewilg SIr Pelllf G1uc:bna'l, IhI Prine Mi'Uler's CI\ef ScIence AdvIser as .... pa:rtln of IhB ellhibl.onwas • map I6malion of.. pn::ijecl This exhIbllIon ... be • key locuI momo loIwilrd

As WllIllCl\lllIn to ItIe NewY_ T. MarlIlWIIi n'ICl¥lIg aheIcI w!fh CClllWIUUy Ir;"Chllll_,trd support·we en gra1P.lllDr the 0IlJil0I1Ig suong support of the PaIl,iIHston Nclth Ciy CounCil rd we wi COlheto be Slronll aclllOCal8ll of !he Manawatu IWlllon.

.I."Chai'mIn, T. Manawa t.tJ9ItA'M TlUSl

J.. 281'2015

3

75

OUR VISION

Amuseum without boundaries.

MISSION

We will partner with communities, thought ieaders, change makers and supporters, to insp"", broker anddeepen connections between them, and with our IMlrlds' langibie and intangibie treasures, so that we cancreale and deliver reievant, engaging programmes and experiences with and for our communities.

Te Manawa will make adifference by:

~ Conneding people with each other andunlocking the riches of our lIl!asures andstories;

~ Incuballng ideas through collaboration andexperimentation;

~ Amplifying possibililles and potential, with andfor our communites;

~ Chaiienging boundaries, and respondingproactively to change.

Statement of Intent 201S/J6 2017/184

76

OUR VALUES

Kaitiakitanga

We are passionate about the Taongallreasures we care for on behalf of the community, and their powerto Inform and transform us, now and into the fulure,

Courageous and experimental

We are commllled to making areal and positive difference, thinking clearly and openly about how TeManawa can best evolve to achieve this - and when and how we need to Ihink oulslde the square, andbe brave, daring and feariess in our thinking and actions,

Open and inclusive

The principle of TATOO I WE is central to everything we do - acknowledging the mana of each personand the colleclive mana of an,

Open communication - the ability to listen aclively, ,.;th respect, and to ~ame relevant questions that ";11unlock meaning, Insights and value - underpins our culture.

Smart and strategic

Our sense of responsibility to our community means we are strategic about where we are going andsmart, rigorous and pragmalic about how we will gel there,

Our decisions are based on priorllising and growing our resources and monitoring oulcomes, with afocuson building our ability to Impact and achieve sustainable success,

Generous and entrepreneurial

We believe our communities are part of a world full of Ihe possibilities, talent, solutions and magic ourfuture relies on,

To realise this polenlia; we are generous in our approach - our ability to have fun, enjoy life and valueeach other Underpins the spirit of entrepreneurship Ihat drives us forward,

Statement of Intent 2015/16 2017/185

77

OBJECTIVES OF THE TE MANAWA MUSEUMS TRUST DEED

Established 30 August 1999

.... To pro'o'Kle governance of an orgdalion 'MIlch Is 8 regklnal museum complex, advanclflg Interesti'1 art, herlage and science (lncIudng irlleracb'J8 scIeoce)

... To proWje study, educatioRaIllld 8flJOYlTl8O\ opportunItits through acqOOng, a:tt!IltM'lg.researc:hng, corrmtnIcati1g and elltlibl'SIg ma:erial e'oideoce of PflO9Ie end lhe.r enwonmenl

... To develop, promote, enhance and mmtaln coDectoos to make them relevant to the peoples altlleManawalU and New Z8aland

... To recognise and act In accordance with the prlnclples of the Treaty of Waitangl Md to Involve andgllo'll speclal attention to !he history of lhe rangala Whenua In !he Region

... To fII'lSLr8 Ihallhe lacflly flI'lCtions as avalued proIesslonaI edtJeation resource and comrnurlityauet lor Ihe dtizens of Parr8fSlOn North Illd !he Manawatu Region

... To encourage and SUJlPClft the kDlred SocIeties In accordance with !he objects ofttn Trust Deed

... To recognise the organlsalion's location In the Manawalu and to be aware of the Regional focus

KEY STRATEGIC OBJECTIVES FOR 2015/16, 2016/17 and 2017118

1. To maintain, clarify, upind .nd divmlfy parmerwllps and relationships

• DewIo9 aTe Mana'Nil par1nership and relationship m:egy and plan - ilcIudOj $OCI8I,cultural, economt: and environmental seem

• Develop Ta Man8Y<'8 parlnershlp and relationship protocols and processes

• Consolklate and increase the value ofTe Manawa to \he Palmerston North City Council and

"'--• Consoidiill and etpand Ranol*e and otheI' iwi paftnef'sh1>s and re:ationships across

social, cuhnl, economic and enwonmenlal sectors

• fdatrttatl and expand \he v.Wt d Te MMawa 10 educatDnai agencies and .... versa~ncludl/lQ LEOTe (learning and educali:ln outside the cl3$$foom) Massey UnNersity, ucot(Unl'Jersai College of learni'lg), Wananga, Schools, pre-5thoot etc)

2, To clarify, develop and promote the Te Manawa organlsat1onal model and the Te Manawapoint of difference

• Carify, develop and reviewlhe Te Manawa Slralegic fralTlflW'.ll'k

• Align the organlsational slructln 10 the new Ta Man'I'Na ITlOtieI

• Abgn aI poIicIn, procedm!s and systems 10 the new Te Mal'\8Wll model

• DeYetop an en";ronmental strategy and i'K:orpcll'8te suslainable praeti:es across all aetivties

• Ensure the Te MMaW3 Slaty' brand is strategic and cIIIar and is etJectively oommunic<ltedand promoted

6

78

3, To clarify and develop th, T' Manawa program",. off,r and approach In response tobetter undlrstancllng communltle.

• Betlef un6efsland Ihe needs, prefereooas and values of ~nilllS

• MaxiTise the demons:rabIe value dile new Te Mcnawa modtIlor IndM:luals and groups 11

It1e conmUlliti• De¥elop 8range of expenence prodocls (Wlduding ellhlbtlon, 't'rtual OOrl18, eventS,

educa:ion etc) ensure the focused and Slrawgic use and act'Vatl:ln of !he Te Ma'la'NlI

"""""""• RevIew and replenish allong.tlwm ga'leries· De. the Te Manawa tounng product offer

• Increase access 10 lhe collections both ph~1y and virtually

• Review the emphasis and relevance 01 each of Ihe Te Manawa strands - art, science andhistory

4. To professionally manage Ind maintain all Tt Manawa auets

• Ensure appropriate collection developm&l1t, management ood research standards areachieved and mai)taloed

• Develop and manage the facI~es In away that optimises community value, access, safetyand use 'fttlile meetilg aI mandatory standards

• Develop and manage Human Resources systems in a way thaI is aligned with and supportsh new Te Manawa mocIeI and culture

• OeYeiop and manage Fll'IMciaI Resources systems In aWi1f flails aligned wiIh end supports!he new Te t.lan8\l.e model and cuIIlJf'8

5. To consolldate.nd build the Stplr1lle.ncI tolllctiY, clplbllity of iliff, governance Indeort .t.klhoIders• fJt!inlain WId grow !he Boatd's capabllily and suppclf1 10 T8 Manawa and vice YefSCI

• Build stall eapablity to deIiYef and bold the vWe ollhe rt1PI Te Manawa model

• OeYeklp and $USia n an 9fll/lronrnenl that encourages co!Iaboralon, iMovalion, etealMty andenables pmonal development

• Develop biWturai prilCt'Cll$ across all ectiwies

• Consolidate and buikllhe value of Te Manawa to lhe kindred Societies and vice 'o'ersa

• Develop the Volunteer base

6. To maintain, grow and diversify the revenue sources

• Develop and Implement aIUndraislng SI13tegy thaI secures ongoing funding foI' Te Manawaadlvities

• Consollda1e and grow lnoome from current fundtl1

• Ensure fundraislr,g and sponsor.pa1ner.ihip is integrated Ioto operaliol'llli plannilg andpriorities

• MaxImise !he value ol TeMcmwa gen8r3led revenlJ8ilrOdl.dng projects and products

St~lt """l 0' I ,1...,1 20\S/l6 2011/1117

79

• Ensure costs afeeffectively managed to ensure the high value use and minimal waste 01resources

KEY ISSUES FOR 2015116, 2016117 and 2017118

Key Issues for the planning period ale:

• Sourcing external revEtllue streams

• Planning lor earlhquake slTenglhening

• Ensure health and safety processes and systems ,eRect the new healthy and safety legi5latiOll

KEY PERFORMANCE INDICATORS FOR 2015/16,2016117 and 2017118

21113/14 lItlS/le 2016/17 2017/18,,,.. BlJ~gll ,."" Blldgll(Au01Ie~1

T. M..,IWI Experlonee

M.mber a Villlllc r. MllIIaw. 157,9604 1611,OOO 171),000 "''''Number d vllitI lei r, M<IMW3 eo./lbb:r1l at 01.... _1IlI1 153,124 100,000 110.000 125.000On h IrIgpgEWI1l1f1l~"*' 5(XlO~ tn:I mlll

meth leech IlOOO ~m)

154~4 ,..." 158,000 IOO,((XI

Tollll I'hlll 10 T.I.\:mr,o~e~ 410,'lC2 424,000 4~.OOO 457,IlOO

FIn.M<;rllThlIll Paoty RMr1", """ .'SS" $6751( "'.SalrlllCllorlVililor SaliIIIclIon (le 1.1ar.uwa1~)COlrlmJrMY SatIsla:lAll1 (PNCC Coolnunllr.lk SIJ'YB)')luMen_ bI¥oo8lly1

~,

''''.~,

8

80

PLANNED ACTIVITIES FOR 2015116, 2016117 and 2017118

1. To maintain, clarify, expand and diversify partnerships and relationships

Outputs (I<Pls)Planned aclfvltles

2015116 2016117 2017/18

Develop • T. It.antWll SWOT,.....oI .. MItIlf ue.ng r, ",,-, AWC·lot~.,.

pM! _1llIp IIld pn.il,,1Ild ~ Illd prO*S8t kl ~n1"".'"--"" I ' 1)lSl~OlI.~ ....a'ld m-u- exIi!mIl .....-.-P-I-~"" l00'A0 of__ .-d ~ ....lttilpI

H~p:ll"c -o..IInt, ICOUOI,OC:nl _ ...Id ""~ ~MOU~- ...,·nOl.'.... teeb1·

• dIU~ pIlllllXIs PJoloaU n pIIlt........ ad oIltlal1an11:.. rMMIt tlI.-.sln "-lor,nl ,..~....... WldIrlIMtI ...-

~d ....... upcIIled ~ r..o....., SWOT(Wla'I WJiM:=:'Pfn..".. .~

PrIoriillod~&NpI 3 new pIIorffiMcI 3new p!btUsed pwmlrshlpt 3new prlortMid jllRlor1hlptand rtl81101lS~iP$ pflrlll!lI1h~, dMlloped -opod ......-,,, , new hlgh vW. mid 10 long• ll1eW llIgh yal. rrid ID 1ar1g- 3 pdorlIMd IxIsIhg....... llrm pncmp de';tlopecl lllrm I*\fletItJIpdMlo!*I par1nCll:1I1p. aIIlmed - 'tot."

11\l11011l111ll'J1\J'1Wip ,-- IdclId v"",, -In~ IornII

~ ~"""""1IId 1_ ~lot~t

I'IIIIoNI JIll"....c1wtlcpld lrIIIernIlIonIl Y:lU tq:iIoted

3lnlemllioNllpw••".li1U[."'~ad.",ed n121lli'Nr......~lcIIrlntd

'5" 01 "'lemtI~.. 95' 01 PiIlmlf~ gs" 01 txlImaI parlnllIINallIIIIII beMit !rom .....

ilOOgllile benoil m hi. ft<:J::¥isI bene'.-om lhtlrfela110nllhlp \'It:t'I T. Menll'fJ reIaIIonshIp ""*h T. Manewa ftiIllon. 'IIIlh T,""-

8O'Ao of kmlll MOU PlWlllln SOY. oIlormlll MOO eo~o!krmlllMOU

~.. lncreasod beJ\llf~ partnel1h pi reI\lk In JlIrIIllIra/ips fOlI~ Inhim \I1ei' pertn«ilNp W:t1 T, itaeaMd beneIlIlor l:IOih i'I~ beMfa lor boItI.,- plnilll (tan 201~6)

llIIf\les (!rom 201llf17)

A...aa~"enlly,I.pplicah b' rlliDnll~-_..... ......

JgaI\IlT.~""

""eo.... an:I .-....edrlg WOO IIlCI Re-. uIIlWIQ IoXlU nI RIntw....MOO IIlCI~1he ...wdTt ~l""IIIMOU dIl¥eIop llddb111 MOO dMlop 1 IdlQlorlIl MOO~ Ii) Coud IIlCI

1 tddilional .... of tyIleml 1~lIIlt\.'11l oIlyslem1 1~lIMIIoIl'fI'"1l0l*" ~lIwwgh~CC Il1.iI'PO'1l1l«1ugh PNCC SUppM~ PHCC

CoolO!ldlle 6'\d 8Xjlarocl MOO ~~ wi'lt1 Teor.;eI MOO 111~_ wIlh aoclal a'ld Rev!8wo' relationsh'4l \\4111Rr9l1ne~~ Clllln. IIOCiaI doYtIopmeri cil;urlll doveloprntnt Ralglt8ne, InckICling SWOT

Ifld~'" IICI'OI&nI 0lIt otIlllf owom. ....... nlPESlEldy*-.- 111l1p'pnel'lf!1:l pl'CIjICt 1m;p~ project 1,*,qrt;ld~ 011 by

tcOi 1011.. ..:I "" ........ ..,.~ " 1..PJ*ld~and"'klQenIOilOlwl••secu. bald on 0lIliXmeI w"" .,

.., Rao9'Ilt.....,

A-.dt IIl:qliId a'ld dry_.............~a~~

againIl ~. Mr.a. "IIIuet

""St.llcmMI ot lnll'fll 201~/lb 2011/18

9

81

lConlhMd from D'evfouf

1, To maintaIn, clarify, expand and diversify partnel'$hips and relatIonships

Outputs IKPls)Pbinned activities

2015/16 201&117 2017/18

FdalaPIIA"~ ~ 2WliabveI wild RevIew a'ld lIMtlIl oulalmn l.hIerlJko • rlI-m project1IIit~ ollIer I..... , Maorl (W1 M mov91Ml1ppf'OlCtl1O or 2016J11 \OIlh. Iocut.on 10 _ rntUlIllbIe impacl:I

llCl'OIl toelal, cullllrll, Mbl pllI1~IWllI 'mailing • d1lltrll'lC/l' \\lllVfor ofT. Ml/IilWuclil&lOrlIOOn(ln1lc II'Id lIl1ll'!/&fl\On( MaoocoomJnllIIlI "000_rcnrnontJI MdorI

De~MOUIlti., 1 Re-.1ew exlltlng .rId llllvoIop 1major Mtllegy 10 1ncmIge_........ MOLl will 18dcIillonlll Maori IllWticiPelbl kII woe. reorglnISIlQ1 10 td¥_ -- ""'-~M~T • .,.......-

2~~IptMlll'"1'1;t11f8 CJ./lOl:Il'IWiI ~Mtor\.o-d T.

k~o~1ubon1- ....... fIl1Ol'W11 dII'Id ~'*de I$~"'.II

.......cl~... 1mca_a"'" lm~.Mn«ry 100'10 ClClll'pIIrIIDI1Iitl

....oIT...._1o ~01EdIE*n LEarc oI~L£OTC """'Iry 01~ LfOTC-...- CD'nctuIlllll_•• (Will conHcW ~{\fIth CiCIIlOttJlII ....... fwilllr.d 'IlOI ..... (W;Wng ....oulflI* reporteclln DtkneI 011_ tlpOnld tI lIdcIbIIl ",!pl.. rtPMtd InLEOTC.UCa., .'Qy~l IIMy «'/vIAll) IIUyIa,,*)

'NanMgI, SdloolI, '"' ~ lor WId...". llIIW....... LEOTCCOfllrld ..... th MI'I'1by.E.....

Deli..... 2new~1lI RI'Iiew ,~stlrIg rod deliver 1 Rovlaw ,~lltirlg IlId deb... ,PfOIeCl pefltIIl1IIlJl OIJlCOnle' newed~11 projICI newedllCllKlnll proJootSustain ood Inete... 1l8l1l1.rtl1i1llo expand re partnlll'lhlp (0 Oq)llnd r.la'gMed aJppon \tll'ol9I MarIlIWlI',liIe-long Ie.-n~ MII'Iawa'11jM.1oIlg lalWnlngI*\IInNps \IrMh pr10rty

.......""""".... eor."," reYiMd T. M/I'I8W;lI..........-

• e'#CIIWlg lEOTC~~ Ii'o'lIM'1g T. ""'-...... fll"'P'MUl

Still'fll'" tt"t""" XlIS/16 2011/11 10

82

2. To clarify, develop and promote the fe Manawa organlsaUonaJ model andthe TM point of difference

Outputs (KPII)Planned .ctivitr"

2015116 2016117 2017/18

Clriv,~pj AI:tIDn pWl bBsed on Jdo'I pIllfI btIOll OIl.vlll iJIld* SWOT IIldPESTaIMw" T, MnWI IlIIt1* d 'IOiIIl'• ...o:mg .,."... b'f' lilt l.NdIrsIip ...,..... llIOI'CWt WlIII ....... nIIdJ T_ al....n.rl 'MlIIdng wei

dill. ' ......Ior .-.d ....~de... : .... 0MI0JI1 plIrllot lllIalllDIlDiIclllon-. II or illClCA:ltitM-. II~ _.......lVI_ tcacN IIldeIUIIM clionI .....,.a I ~nlde- '0) '_'of.- ""

AIllllllllIlIPfICtJ of Te Re*'ll'sno:u.n .... Alld~ 01 .. poIlc-.lIld GlIIl-'Y*d poIcieI &"'1fII_~10_ IlI*JlIOOt'" CllI\ft_1O ~III to .....COnllll*'-- ..... enynlledlor 1i1Ql'll'l'll!l\\ 'IIIiI1 IlrflllglC

PfllCIIlClrIlS Iligrl8d III SWOT

nloclllcllion llId lrtIlI1lng .- &PESTEl en<¥il

POOrlly 1poIia.n ood AIlgl oulCOO'lt 0' ~ew of T, Re-;lew of To ~llWaproOIdure.~ to M~awa por1/oIdlaci'ItrMds portlollolloci stlA'lClIlwalegletf~ willi potJIon ~1lI•. 1trua1IrlI and

IbIfd"".IopI.~& lfairing

100'10 of pollc:iIIllld

......~ 11I'lIP~ IO~ lmap .....IO~T. RMIw III inb.... llllllWa.....**9Y T' ........ ~'IlIIIlII "...... _fCIWIllIl'IlIl ~T.~...- ~bt _lOIl1lll1d1NUl --- ....mIlllelUl perjorlUlOI--- I Pil,..tlip prOjlKl w::t\ AwatdlIlll:lpId .denIry

aid pallO her.- .... lDICfOIIII dYIliII

~mell!llllUlUlflllbl~ ltI:pItI'IIeIIlI COllKIerIllT,MInr/rla..., IgailII TII.I__ ~ak.lnIlld AWMllPPlclllon. deWIloptd.-.

Ensure ll1e TeManlwl Aooutl matl:elIng Md Annual mllrkltlg.-ld Anrl\Illl mlWktIIIlgIM*'Yb"nI Is ttralegk: communbib, pllIl COInmJniealcntPan aM'IIIIlUlllical101l5 p'a1Mel ca., IIld IS de Il~ '- dMl_,IleclIAI) corr.llll/Nclllllcl

""" '1,~ IkIlY ill The 'T• ....... 1IJ1t'( II T1lI'T, MarliN IlolY' II..."..- _1IId 011 1f!o101iJ1Q1 lI;WMon 3~ *"- lIIt.nd on 5~1MQIIby~ III loeII prtll ... IlIIcai1 pInl ...... 2 1lo!III'" IlIll1C1l prinlIl*b, 1MI.CNI pM! f'IticrIIl pmt........ IIld IrlIlUr. 31111ion11 prirf lIldIlllldil~ IIld 1 1primdnI TV *'Y ...."1~TV-.oN.., 1 i ....tII.... onInI 'TI"'"

..,ThlrlYi5ld IlolY' nw..""*:I1I\dkJf 1 iwloYlIlM<WW 'T,nlmllltrnlMlullldenCtr llilIooIod ~ 5000 pIOpie I.lllWWlllOly'iniialI.... 1IIII1\1'lc1Jed IS pill oil IklCllllCllor kiIIDwId ~ eooo_ releurodl d ......community and IIIsllof

"""'.. 1Te Uln8W1 key IllMSIge It1T, MwI8wa key lllOINgi l.IIdenlood~ )85". of I4K¥t)'

1TIUIl\IIWlI~ey~1I

II UIldIrJIr:Jad by~ 01 -" lIilC\lll&oDd~ )87'"A.«

~,..,- """'-Sl,1temt"1l or Intellt 2015/H" 2<l1l/1B

II

83

3. To clarify and develop the Te Manawa programme offer and approach Inresponse to better understanding the communities

Outputs (KPIt)P1annlKl Ictivitles

201S16 2018117 2011/18

Iletler lI'dml8lltt Itlll &l,w, w.ere&sed 0MqI onIrle ,...",btt1llip OnIr\e mIIll~ Indneeds. pte!e1tflClt If'ld ~ ..Iieipe~an 100 and dalilbaM Itrlllegy ..d plan cIlUbnlI plan flllIemerlledvlllues 01 communlllot cngagllllllll111111d /t'I1t'W 1:11.

eWoctMlnoll .,d relevllllCIoImepien

Front of houtllllalf Front ollloud 1ta/l.,1I!'M fnn 01~ 51il11 tnrIyse~n6erlak. YiOlr f8IplmII \Ildor~ 10 12 __ ..wor raIpOIItello \2 .1110 6__ 1* Il'tIlJIl'I ..~m ..-m- II;I!Ur d wIM:n -=- n,,"** ol ....bI

1__IUIlb!lf at 'OlIlIcn

w""'Y"d by 10'Jl. ....-,.ed br 10'10 SIIWrJ!ld bJ 10'4

Aht'-l*\idPIIIe lru Tt M IlIIgo-. 1., III WG't 'IIIIlII M iliff;_ 1dIIy to 'fIO'i;~lPPo'IeCI .T.r.r~ ••T.~CIOIIlnIMJ llfIl\lP b" one ........... - ........

P~ ....~ P'Ii....wII.~AA:tt~yWl --- ---IHmiIg lo~ .-.d.... ~ r, "'-'-lUI suppa1I T. M_lsIrn2nI'/llNiSoI~'IIilIl de••pml"! -'"'c:ewn~1ty.._..95~ 01 commoJnlly p8r~tr • lmp&ct on toeII~u. of Measurable IUCXUI meIricI

dfmonltrllble Y8lue of p'ovidellllidMlce oj poeItiYll r\81,olllll lIl\dIOi if1l&mdona! reviewo<llo InSllfe llr8lll8$llh8 new Te """awl imp;I;I of T, MlrlaWl ImpaclsoiTe Mlnewa in1paclIn '*VeiledmodelloflndMltuail Md plrtnlflhlp egaIrJIIlltqecl sq,litn prCfltl:lIllfNlllAdgroups ~ 1M! 00Q1ll'WJII1ty -Illlpldol~.T.

MarIMI prq.a: lIlInIIed,.15" pol.... t:Ur:omtiIIlIirS IllCtIdob~ 12 'n;nhI(__ ot ..' ...01 .. '.lIb'WII'Ihprcl of r, e'rttmtH( IlcriII d ....

~~clT. "--"1*.... ~npetdT.- ......- It:IonInItd IftCl ...__ MIMw\It .4*....

clocI-*I.d~ - doalIIl8Md n pi Fli ~- -TI~Visllar

T,U-V"

sai$laCllOn IIf'oIeJI ecHM TI l.WIawi 'v'lIIlof IIllstaclioIl I-1ft lb, Il.I\'C'P Id\oeYe

".. U'ItYS~)97" "..

SUI~'" 'lolloll~,.,tlOIS/16 2017/1'12

84

3. To clarify and develop the 1M programme offer and approach in response tobetter understanding the communities (continued)

Outpull (KPIs)PI.nned .ctivilit.

20151111 2016117 2011/18

o-Iop'lJIljle 01 Ole ti9rl/lturt T,MIn_ IIllemllionlllWardllor~ Award awbIIo" prepa'lldexperience pocNetl ~rojecl.d~ llldonal • diflerenc:o' llf.1lOQPed end{hclIJdlng 'xhlbI1Io~, al'lMllor 'mat1"O' Clrllry reqU.r&lllI"11 OOOllderl9llI'iftlJOj, (dllll, aventl, ~ilferooct' aglin~ T, MaMwa valll811 Md8duc:ltbl ~c) Clo\Ieql. dillilallka!egy

..,... Onllroe PlltJapti(ln up15'llo on

~d plen 10 grow oolne l)'Ilklel*llOpatlon up15'4ll11 20161171cYM1- 2014f151M1. ArnirlllII\tll 01 23.ooo.1llrI

AI"IirwruIl om.soo AfI'IiDLm ol 22 000 '4lIor1 pIfI.dpb"~du~-._. I*~ In ......"du!ilg t.e~,IIIlI pIlIiQpliJDn In

ICMIet lUtrv .... 'f8Il'. !he re-,n patc/JIIIICM in MM!'II.-dlg".,.

In(!~ '1lIIIO lVlO ewftlI ....d"t III """ 4.000\4Ucn

-alfttdlg... 3..., .....),coo 'fiIIorI

F~ ........ol R8Yie1r_~1Id.aIcrlll~anct proWQS" ...WOIIP enddIIYIICIp 2_ pIOI1lclI

.p!lti oulcol!lll'Ililh ~,-oupTotallannel to.clIlton vbllI

TaW tnn.I eckIClIlloIl 'l!Il1 Total toI".td.....~

Idlilwe 22,1JOO leNevo2J.l50 1l:1ueYe24.300

0eliv6r e~1tlIlb\t lIfId Deli......htbtlonllnd ICIMtIes OlIN« firllll.x~iIl.1ont lI'Id

adl''illles In cahOOI.hooIn coIllborat\Qn with the aeII~liolln ccilbotlllb'l wi\h

w1t1l till Cer1tonlW)' 01 IliWI Cenlenll'f 01 WNI tile Centenary 01 W'NI

AmIlllll'islUllUlTlbIn lollll Am\llli 'IleIlor nYmbet.lOllII MlIlBll'lliIor numbGrl tetll

:>168 000 >170,000 >In,OOO

ReWlw IIld 1'IIJI1InWI.. AI*for ........ c:... FllSllong-llml~ rutll\Jlllll ....._-........- ~ .......oAI ......., 0l'Ili'le IlIld win 1$Il8WIII1CI\II'4d on he •...... ..... ........""'-- ....... hInrH-:t.. IlWIrKtMi drill n

~"'a'" ~~"GI"'MfIII. IfMSIId 111 .., ...11 W'IW'\fIi..aNr.~~1Ktl pill fi "llIl~uhblllm fIIoI!Iwed _..-oI..MII'......... Md~lllllIl;pIQIty..,.... -o-lop" T.r.-- T.~~pqtCU T. U.-a lou"'''~prqeds T.~ b.rng IJO!fCI'........."'" _ by 5" IIlCn PfOllIt _ by S" IIlCn pIl)plt _ by 5"lI'IO'I peopI8n.!Ionetf 111111~ nallonally .w. pre'oIIoul ,.. lWIllon-"Y tIM pr"" .,..~. Rel'iew of CXlIl-blrllfil of R...-cIllul'lg ltIalel1f II •T. MllnBWI lIIIdtweloped loorilg andkII on.... T. fll'lJ_ 01 OOII·~I...,aIysl!

• c1e1ll"~ In t~ IOlirInQ MarIaWlI proOOc:tllI1 irl.lIlt\ .:ld ~ ~. with "4!W

~et b.sed 0.'1 ~, stt8I8gIc goIiIlIld rMnue meASUfabklwoc,n melrics1'U!JlO'8. bflll'ld Ifld IlOry .,....

2 tour 1II(i1Qr cnlnI proIecla2~Gllo......lll 2111 210lir 8fIliIOr onlN prOjOClI end 21n dlhtlop",e.lt- n12Inde~11 Reoo4cw tnd ~Il'it~tndir,*,lllIl( ReY\cwand ili••iI.~ dltnQII ~ III Iwmg elltitllli:n_......

lo~uhIlbjll""" •••'" PJOQi.I".flII\I:IIlo.'I 1'""'9'_III.

COl "lbI tnd mhIIliOlI ell• Signlbnl iWlcua~loWnged'"

13

85

3. To clarify and dev~op the TM programme offer and approach in response tobetter understanding the communities (continued)

Output. (KPlljPlanned IctlVItl..

2015116 2016117 2011f111

!we.. eo:ess 10 lie Arm'i'rllM'n of two t2j AIl'inilrun 01I0Io l2lllmplll'1rY Am1n1rrun of two (2)_.... temp<nry PIliblllonlllfllm .xtitllt.al1s~m Te Manawa ~IlChI~.1rom Tep'tysIcaty and ~Ullly Te Maoawa toIeclIoI1lft1 coledlon .1 tlIld to le/lecllho MenllWll colllc;blerl ~8kllo

lleld IC rlllleellhe dl'tinClive dl5lD:UVll chWllClcrkllca 01 our reIIw the dlsl!ncll ...characteristic, 01 our w:nII1Joily and M, ooIeclIool dlwaclertalics 01 OIlOOn1Il'UlMy and ill COOlmullity IlItIIb ooIectlolle...... Best oplion$lor .1Ilgn_uN

_01_2.,'lOII8IW~ -- r,U_1WQkh le5led_ ......

~ to lOInI !y bell ndMqAd-*-7(l'I, pr;IIIIIi¥e

~lor''' ...T. ~"I _, 01\ ot;ecta-.. ._- ~ -' T'1rolIrIwII1IRMN 0igUI snllgJ' N'I ~1IlCI ......0Il'"__ loT...... --CXlI!Ic:lIan,'. 1 '., OlIN;:;;;;.......

Revlew....... " -_..... 0MI0p 11'1ownI-, II'd oew.I.. ~ PlOt to__of ••1tI ollie I'8'It8w oI1h1 T, t.l_ hllJe\llOk thIt .... lhI dfJt.oer IJ\lIllHd ClU!ptbTe MIrleWli JIIIlldI-1lt. ..... feYised r, MaMwI ..".. to tile~ reKUlla, hollofy ~1trInds oMlh M~ poIlloIit\I rod IIrIflCls

8S$OClallld lnuel-lndudilgLEOTC, colItcllon ~.,relationships .".h ~ltl8fI,

SocIeties and lX)ll1Il1lJn,lielI (II,....

14

86

4. To professionally manage and maintain all TM assets

Outpul. IKPlt)P1.nned .ctil/ltles

2015/16 2.016/17 201711B

Entu~ eppropr\al' ---oolllIclCn clevelopme.nt, dewIopmenl tnd IOCeUII\Il'IIgII!I*lI &~ .....1IInc*dI .. ,CHMId A111l1ms nlCqUlled II All... II'q.irwlill ,., ""'" n~ ill.......... MlIXIIlI..... T, MM.- ~"'T.~*,-

~dlT.....pgIcy Md pooce". P*T..cI .... IP'*r Illd pi'" I I

~rlc:nllldo..aD:, 01 en IIld ~oIenn

~ 01 ClOIedIoI. inPMeI••, oIcdl1ct1m1tn pl-.-...len 01 CI:lIJIc:iIoM In

T,'"*-'scn TIl.IaNwe', cn T...._.c..dIllOl"'. by IlD dt/l'l3ftllnlllc bv /lO

____lIyllO-_. m,paal*.... or dwrIIges IrreparIbIe 101_ a dImIges

d8lnaget caused II • 'It!UMcMed ... relU. oIl1lnl1ng CfUlMld as .... 01~

01 hll1~ng by l1\li11, and b'I statr, ..d m1nlmll « 5) by 1lII1I, Ind mi'lmel (c 5)

millllJ\lll (e 5) ClISM of uses 01 irfeIlar8blo dlmilQ(l t ... oIlrr&pllfabl& dlmllllG

ifrepIrlble da-nage OCQIlOOg as. rtlUtofp.illc occwnng .. arellJ. 01 pubic

~ •• iUIII 01 pubic~ ~

~

""""........ ...11*..... l1OUlIlo T'II: PftlIlOMll T, ....... TtMInMWt.l.Sl

... ldt.a II • AJ '* ~.T."""""'" IrtawtSl~. ~.(:Qn.~l8d_.......SlopIh h.pIIrI ~ .looJInll.IW nl~i"i&aU:rlFIItl

...........ulIIy IIIcld'IQ ptIollitlcl QlIIt«I ..... _..nl_llhle IIlIelilg ..... o-ltip • ooelId 01.,._ malIlory UlCiInlI

""""- tpeOlc~b~

nwIaQII1l8tlIlIllI PtoPe piorilMd cIIIl\gIIlo ...Ittely plIn \hat irlc:kJ de --buklrog Ihlr.gfIll'lng

.Align IlIllac1ity lllotatJon, lIMJ9lIIrm • 9(I,imie O'IenI II1d llC\I~aIlon IMlh revlwd T,

I ~~foIo;Wfcclltra'ldsSlagId redlvtlopmenlllfOltcl--

DMlop R IllMI9' AlIIJIllrlIIlri* 1!lIlf11M M~""IIM AI~ ,II1II tIM....., ...... n!llHl PerbmIlQ ........ F'IliotmMlOI RtMews IfnIIIl fIM:nIa'Q FleIoiewI.,...,.. 1111 "''l' '* ~"'...d nl"DtwIapnW'll nl~OMIc+i••

""".8nll~ ~,,*,.lor PIInt lor 2011118~ pIaot IIoJ PIn lor 2018/111" p/lctby",,_l.w.- 2016117 In pltot bl' 15 1591;1 Oti 2011 15 SI;JMi_ 2011I'lIIlSIIIlld CLt... $tJI6tl,_ 2015

CcfItId8r ClP'OM b IIlICrt;lD T.~.ntmtd ••uvey II"ottoocIc*lgy best 'bat plKII D IfIQ'\(

Am.ltI tla~ 1lIOIk_ JI9*I DT. "'-'- modi!

IUMlY IIlIdeftIktl~ a'ldAnOOlllIta~ worI::pbce fUMy

JelI~~ !ecd** II1d Annllllillatr wor~plece auNe'( ~cleo1aklll1 and ~ul.rfJflOIgGlIllln( Pl'Ggrtl'M'ltlS~nd.rtIk/lflll/ld regular Ieodback IIld 1lf'IUtgOlll1"1...- ledQ and engagement PfOlIrlllmlll 6evtlolIecI

o-lopnl .... ... piC/'_..... AI pIOOIlI_~ II'lll AI ..."

~_..-- ...- ....... "'-...,.....~IIlII._....1l.qlOI1I1hI_ Te....._ rIllIdIlllld.....SI.lt~"l' "~t ollnl~"l }OIS!11, 20L7/18

15

87

5. To consolidate and build the separate and collective capability of Itaff,governance and core stakeholders

Outputs (KPlsjPlanntd activities

2015116 201&111 2017118

""tlotIrdllfOWlbe Ol* trld CfOfIleIl ChIIr" _ CEO IIlIlIl a'I'lUIIIy a.. tlld CEO !NIl ......,.!IDIrd'.~yn IrRIIlIy 10 dIM. Bon todlaln 8oe'd~ lDdiIcuu e.d~tuppcJllo ,.u..- 1tCIIto.... 1fId de' Ililp llll• a'lddililt, •..m~ _ dtvtIDlJIlt'll PforR.....- _.

AmuIII PfOlll'IlJ'lt 01 .....tUII plDgl-.TlTlt ofAmUII~nme of llewklpmenl \IIIOIkI'lOll' dIYIIop"'''",\IIOIb~<IMIopiillll~WDltmpl bued (Wl Chek Wlrilng wIlh based OIl (). 'NJIkkIg withb65fld 0lI Chelf \OIOfIlJIIg IIdlh Cl:O 10 ldentlfv PIlorillet ceo 10 klelllily pIIotilolCEO III kIInIiry pricttIH

~I 01 Botnll SlaH eo.d meMllerltlIp plan2 fIoIrOI s.tf tcdallfld toeiIII WId WcnNlIon sIIlDlg developed III rtIpOllI8lD'"~1hnIg~ UlaiDllI~nI fl\Ih( a'llI pp..~n "'"

....... ,;;;"IIuId .... Clplbilitllo OIl. ',-'.lIlql111bllll De....... lortle I)eo I, ••••blle-.andbuldr. ,.... ....-ed.nd yell' nldlntJed IfId IgIIIId 1'- In dIrlliIId a'ld..'IIlII of .. _ r, v-l b7 31 .ll'Y 2015, IIilll b131Ny 2016; ..1tl5O'ifl of bJ 31~ 2017; "''' 50".4 of...~- ....- pl'OfealorIIIdlr.lllpIJl8lll proteub:IIIdeo Ilopi.",.,..".,,- 1M000000000locuIll on ItlIrn I'IeO\Wtes klc:uHd lJIle.-nIDe. on tellTl ~,5O%0ll llevelojlma'll, SO% on

cleveIoIlmeIlt 50'.\ en ndMdual de.eIol~ll8011 indIlIiOOaI dMlopmentlndl'o'l6Jal deveIopmtrt

llO'IIo 01 priorty (IIlf8O'll. 01~ 0lII ""of priorty (IIlfdt...,..,~~""", ..~~ cII' ":1\1•• pIIM IdliMd

1\1.." 111ft IIlIend baotdNew .... IIIIIICI bltvlturIII ,.,..UlIIIIfld blwllraldill 1'),...lllrlnlgwrrv de t , .......rIg nlllllI • l"'i.~'I'Id_CIlMr1irIl311lC1lllhl o/.....a.tIfler til, lrliwlg~ &al3 toy ".1IIII\I1Utlg Irtl3IlDllhId .....1Ce 1IlOl'Ilt. 0I.m:.

""'..- SIaIIn~,.~ ... Re'Jlew PfOlIrtIS Igainsl tile KMlplllll Mlo't 1C1tof'" ledprlld.lces IlCl'O" llll lhlI~',~~ oIllle ""'''' by • membere oIlIlll!leclMlies bk:ukllfaillfll

Collsoldlltll WId bullcl En!U't~by ReYIew _lin~ Societies NIpllIIIille b' 00-

"'vQr:lT.~ SOCIIllH WI -1IIClIld PI rellliolllll TeMana... deIr.wy 01 one pl'ojecl tad!10.. SodItiII WId ...-..-..- rc- 'ICUlIelIf bite by ReYlIw .... and~ One IJtlI'IlI~ a'ld... 10000n prI'olous ,.. b'~~.T. dehond ~ wtUlilln- Mow.

~'~lM"'''1 ' I "'1.'>1 201i/lb 2017/1116

88

6. To maintain, grow and diversify the revenue sources

Outputs (KPI.)Planned activltiN

2015/16 2016117 2017118

DI'O'IlqI ancllmplwnellli AMual6llllleg)'. pI.. lIId Am~ lIIr1lIgy, pIM nl Ar,nllllllhle0 plIn Ind~ tltlleg'f lhal budgets.. developed ancl bullgets..cIlMIlopecl n l:I.IdglQ •• tIe\'fllped lWlCIMClIret 0I'\I'*0g 1\Jld"ll 89'eed by Aprl201 elor IlIreed by AprI 2011 lor fgfeed by Aprl201Sloflor T,~ .alvill•• 2016J11 :2(111118 201SIl&

CoMoIcI.aIt n WOW ~iI on IIW&tilg AnlI!ysIll on II ex<stJng IIndert AII..,.II on IIw.mg kwlclef.............. knlen IIId upd.1lIIl plIn ancl updIIll'" plln ancl~Ilall".....~nlll.n:ler .eq ftIIIe kInl:ler 1*t'ltMp Ift:UIa kmrr ~l'IIp• ." lo 1!\IlI.mt' _.- _.-NlIknIhIp. --.. CII j 'h.... _ ....ol ftlIIIIotlIll41, __01, .... lW'd poIItIlM 10 ..... 1Ild polIn~ III n:r- ........ ancllJ(ller.UllO 1ncIt..- .......... bd"9 nklrdllW..... ""'*'II II!dIb'dlkwwenrll6Iwwc....- y.... .... ....

EnIln~1Ild Il:tld1)' 0JIl':N Icr I'I1lIkIg 2'PlJl*llS of IW9t pq.as 1tPOIIIlJ' CII 51"9' prCf'C*1PlIMDl'."'.~ II lpolIDI frooI"lRiBd I'lO\OICIIo.ll nI4M IIl'OIId mcJrIlld III belrG ..... pIqIIdi'I~Wo kI rr-.1lIpIe project I*'1lIl1hlpl ........opeflbonll plnirlllrld ....-..... SpooIorIIlIp II'Id F~~1IUlg

..... n ... $poIlsortllip I/ld Ful'llt'ftng SpooIortIlIp IIIdF~..... n ... budo6ls n met

SpooIoahlp and lundralq$9on$Ollhlp end lundrlllslngrllY8llunla IflCUrId 8CIW a

J;Wlge oI.c1Ml1a nciJdlog ~ue II HCUrtod tern•• a$XllibllOnl, _rlIIlIld IanII' oIlCWvilllllrldudlng

~~Itexllibilml, __In! caPUl_...

One (1)_~)'U' Qoll!I (I) new fIlUIIM j'Nr

1="'·~....·1t.I'OI,...III.,o.,....b.....

MallIlllIe'" ,a. CII T, FIlIal V... tiN.rIlI oIlIIf ~V_ HA a'ldatl.- RrUI, v-.. ttR IlId lIl!lII'- ....... FIonI ollblltdl-V- Fm oIlb1M dIa'gII FmnIotHcuM~-- inc:bqcrin b -.ot- 1IICtdF9~lor.... ft::UIIIQ ..... b' ned-.-........ dwge.. ""'1ll'MId lo ctIIfIlIt UII.-wed III «llilr;e cNrgelM~1O

IICtiIwe 5"n::r... on 5% nc....on 20'5/11 ....,. 5"n:r- 01116/1120141lSbAgIl ..... .....Towing Emiblion IMII\Ie Touring EJIltll*Jn r-.. Tourlng EJhbIlon......,..l.iIrgell lll'IlIllll a'ld 'lIONd largetJ .. mel a'ld Pl:IId t.rgell.elllll..cl eaed2014/15 aetllII resull 2Ot5lt61C1ull mull 2016f171Cll111muls

5'11 IrICfllIISe In plIl9IIITIIllI 5'11 incr8llseln prowtmme 5'I~ In progrlnmereYOlIIJe (rom 201.4115 eetual rlI'1f111Ull from 2(l15118IKtlllll fe_from 2016/\1llClual.- ..., feilU'ls.

Enwrll tlIJttI., Cosl beneil ...,.. of It Colt 1:8\tfIl ......... of_. Colt beI1ti1"'lpIl rllt lNsl1Ildo'" ml:lllll'd III leal 2'" prt1' II' 2ke)' IJOOIIMw P'iJ\II_io," 2te)' proc:.-tlnIpropm!III'\SIn \tie ~\ft ... piO\jI.io.le IIIIdlInIken - .....MUte II'Id~II __ rl

a.._tolnl CJeIlt~ 10 Ilrd allis Cfmt,.....to '.rod_- ... r-.-IIlpMh NflIWII'IlOOOlofl _1-$U.I......' ..I 0/ lo>ll'n, 201511(; 2011118

17

89

GOVERNANCE STATEMENTS

Te Manawa Museums Trust Board Is established and govemad by T8 Manawa Trust Deed; avaIlable onrequest from the Executive Assistant of fe Manawa,

SIGNATURES

This Statement of Inlenl was approved by the Te Manawa Museums Trust Board on:

0.10: 26 FeOOJary, 2015

John Fowke, Chairman, TeManawa Museums Trust Board

Sllletl1~t l)f InltnI20.15/16 1017/1318

90

........•..,T8ManaWa

MUSEUM OF ART, SCIENCE AND HISTORY

Te Manawa Museums Trust

Draft Statement of Intent (Financials)For the Years Ended 30 June 2016, 2017 & 2018

February 2015

91

Contents

Budget Anumpllons and Comments

Prospective Statement of Revenue Ind Ellpen,"

Prospective Stattmmt of Roane!.l Po5ItIon

Prospective Statement or Cash FIovn

Statement of Accounting PoUel"

3

7

•,11

2

92

BlMlgtl Anumpllons 1M CommentI:

1. PNCC Funding:

PNCC Qpmllng Granl

2015116: $2,962.085(2014115 p1usO 8%)'2016117: $2,985.782(201&16 plus 08%}'2017/18: $3,000,688(2016/17 plus O.8%}'

'Coolillmt willi ,he CPI rats or 0.8% and 89 advised by P~.

The peK:tIfllaglllnctelSell appliecl provIdelnsulfi::lenl kmdlng to COWl' budgeted cost h........ in p~ar payrnI,instnrlo& v.tlIlsl~ projec:ls 10 iJIfI Ol,f 'IIsion d:oo the slralegic lra'Tl8WOIk. Thin Is atsoU"lOllf1atlly as 10 lI"e1mg In:! MlOtll'lb teQUltId to be lXll'ltIbuted by Te Manawa In ordef 10 eNln adequate saIely ItandardIIn IIIeerU-:;uake MIll b Ilaff and ooIecllOll, dUll to tilearI~prone~ ocolJl'ed by Te Manawa.

A.s. ted. TI Manawa had IodelerSOl!ltollhe prtltlICt! reqtRd bId Ilf mtegy In I*bWIBr, bl clgGl slralegylias beIfI poalponed III 2016117 rJllal'da' y..- Thefe is .Iso 1::118 room for genenIIll'lCl9IIeS In operaIng explllldhR. Fer1M reason • illXlIllTlIly f1llor1anllll oontIfIJIlll ckleeIy rl8IIg8 expetllJu...

2. Intel1l111ncoow:lntefe51 I~ lias been based on a~erage bart balances remai'llnll between S765k and S840k (lhe appro:dmalflrequired levello pl'llSefVe lagged reserves and 10~ build up the seml·permanenl exllibltion llIIerves) ¥/lIM ImereSIratos forecasled to be 81'OlJ1d 3010.

3. Other Income:Othe.- looome II Iorllcasl 10 reduce Irom the 2OW15 budget. 2014/15 tudget levels Wl!fl based upon allraclhllslllnll1canl fundinll from Cofporale and e:tIidablo Organlsatlor$, dedk:atod spedllcall)' 10 buldllg lhe pem'IllI'I8!t

exhibition ·Su~Ighl' 111.1JIlikeIy !halllll, hlllh IeYllI d fu~ Cln be maIfIlai'lllllor 2015/161hrough 2017118, IIMfEl.... amounl 01 nMI1U!l1s b'ecast 10 M.m 10 I8Yds tIdar 10 fI068 .ctuI...cI prior 10 2014115

4. Net CoIItclion MOYlmlnt.The IewII 01 dona(ed and ClISUXUI·· A:MlIOi i 8SsetI1S mahalned _ PIIOI 'f&IW IewJI

3

93

EXPENDITURE

5. Payroll:n. Payrol budget f'llPl'8S84llS !hi a.mnt b'ec8sl1naeased by CPI IO.ft) per amurn ~h" PNCC operalI'lg granll5SUTl~on atxwe, ThllabII bebw (Nole 6) provt:les a brsaI\d()o,<,n d~ ocell per each....nc

I. OpetIlln" Coal.:~ costs ha... been butlgeled bf the nellllhffle )'f;laI1 based on • CPt adjllSlmenl 01 approlllMlely O.8'It In IneWith !he 1IlCf885' In QIlC'atJnll "rani.

The lable below DroVkIes an analvsls d , b ItKdiolt:

"".. Budget Forie." BUdg.1 Budg.t BudfilOl

20to4M5 2014115 2015.111 2011117 2017111

I I I I I

.~I""'''''Oper.tInO EllfM~...... .-.d~IIom.

P'Y~ • 348711 3Ill,17' ,,,,.. ".... 400,7MpNee LM_ & SlAi • 11,373 11,1145 ".., ".,. "....~*"t~. - .. - - -~~~CO... , :m,39Cl 2118,5Il' 305,425 307,S2t 310,2510fleI operang .lIPtftdr'lf, 224,2&0 21111833 222 <128 225 NI 227D78

1175,11<1 117Ul2 l,cXI1,8J1l 1,01l,eo- 1.020.5711

Peopll a p,rYI.,.hlll'

1")'1'011 • 829,"9 841,07/1 6Sll.511 696,7e3 702,337

Olher oper.~ng e~ef\dJture 262 56 211145!l 1117240 1115711. 1117360891,607 1157,73' 853.751 8112.557 8llll,lIll8

ConOllpli & ~.g.m.nl

1"\fOII • 5~,3ll8 5112,JiIl 5711,573 Slll,lllll 565.835

Other OllIfIIting 'lIlIOdilure 3.8 1.3 IItO.aoo 27480<1 2750117 277 ,2&6ll<I7.S<ll 74U:'Il 851,.77 Sse,273 lMI3 123

e-~

P..... • ..,-'" <l5f.843 .511,.90 -463,lell <IM,I71

ocr.ope"'na .liPtndrtlJl1II 171l1llW 11'218 1311 J't'0 '.0.8311 1.21llle118\1,460 04., IN 6911,310 80<1,10<1 1101.037

OeIlfeO.kOnbImortl••lion • 181,327 2N,On 317,l!l8O 3111,844 :12.,228

........ 'N'IIIIf\ 011 - - - - -Tot., 0fMfltlnll ExfMndltuf, 3,775,71& 3,548,181 3,12.,03& UI<I,111 3,71U61

1. Occupancy Coat.:Te Manawa has reoeived notiu ot some wppler,'lnlenllon 10 IflCflla5ll OOSlS. An Inftalion adjustment of 0.8% has beanapplied corelslently.

2015116 forecasl hsurcn::e costs reIIect arttk:lpated Increases In inSu'anc:e costs k/( ooIeaoo ., reding from !heseismIC assessment of u. bl.Ircfnps. Genefallnsurance cosll (I.•. other than coIIec:tJon 1lsuranoI) tIM been IOrecasIedbased on ICluai quotes lIdios'ad!of nftalJ:ln SIgnitcanl illClllaSlS In rdlllon 10 Insmnla 84't11'.:ll expeceed lor 201&11on! 2011118. The ''WIVY oosts 11M been lotecasled at a It»lW~ I\an 2014/15 budget. based on aclUal OOfIStA'IllmII'End adjusted b' :atol.

a. PHCC L......nd s.mce Lev" Agflln'llfll.:• hal bMn ass!JTl8d lhallhn wII be m R::rease 10 charges !10m PNCC In Ielabofllo IT, vehidet fIld p/'lOne5

4

94

The Trust his aCCll1l1aCl wI! PNCC 10 lease !he Pel. Min YiltldI a::tM:Ills nsUlted, et'Iecli~1yon alll1.free baM.

9. DeprKI8Ilon:The a1gr'll~1 incfeaM In budgeted Deptec:ia:lon lor 201S116, 2016117lWld 2017118 reIIects 1he depree.atooon S~Ighl:

Wing txl'llbltlon, 1'f1"iCtI1s to be compIeled dLri'lg 2014/15 fJOanClal year, end plal\ned adcltlor1l, IIIckJding L(lg18de 01lne sertj.permanenl exl1lbhions.

10. OperatIng Surplus' (De"cltl before Collection MovementsOperating Nel Deflcks have been budgeted lor 2015/16 (.S7.2k). 2016117(·S23.5k1 and 2017118 (.S28.8k). 1lgJtmanagement (j operatng eJ<I)endiIUfe ~I blleqund to achleoio theb~ resuts. To continue to f\fl net deficitsltlfeal8l1l Itle Trusts aIllity lo IrM?st i'l capita expeflljIJxe SlJIb8rrt to relak\ and grow lI'lI~ base (j theorgII"lisOOon. ReYenJlI generMlon tWOIlLtllties must be IOlJltIIIO ens~ that ,"DIrt oper;jng cash Sl.qIIuses ate.................SIATEMENT OF ANANCtAl POSITION:

11. Cuh in Bank:Ba1k belcn::es are budgel8d 10 remain relalil'&ly COllSISIent at bet....... $76511 and $MOt Tt. is surrrclenl to meeI LheTAlst's budge4ed obligations and commitm8l'llll. btt doeS rlOI generlllll sutftdenl.lundslO gl'O'N resen'OS to rLnd slgniflCllllrelreshments 01 ~4J«manenl galleries.

12. Flxed ......l.:As lden'lied i'l NoIe 10, lI'lI opemIng giant Is WlSUlficiert 10 lund both operatirJ;j oosl:S ancllt'tenilon ollhl value (j TeManawa's fixed llS16ts base. Therelofe, n order to lMIiI slgnfi:anl decfnI 01 fixed _IS based In /!Ie ~Jhn, ore 01 TeManawa's IiIarI::IaI sntegy is 10 stan lO graduaIy bUldll'G 141 its 1XI1ecton ancl exNblion IMeNeS an:! carelutt pm Icrb c:apJaI e.qlllnd.ue.

P..... c.ptal Exl*'dltl,Q - Forecur -' "- "-Sl.W'nm-.y 2tJ141U '014115 201111. 201.117 2011'"

$ • • $ •Collection. 25.000 4~,000 29.000 25,000 2MOOComputer Hafdwafe 18.000 8,485 MOO 10,069 $,000ExhibitIons 60,000 424,5&6 92,000 22.500 175,000Fum1tlSi & Fillings ,"000 22,000 31.300 12,500 20,100Pian\ & Equipment 37,862 ".U 67.200 ",600 20,000So._ 16,000 10.S01 18,000 130.000 .l_tihold 1m • ... 000 "000 20000 - .T.... '" "1456 ".,00 ,..... ,..100

13. STATEMENT OF CASHFLOWS:Mel cash t'cws!rem opeatillg llCINtles are~ at $317k, $296k lI'Id $2!& In 2015116, 2016/17 and 2l)17118/9SPllCliYeIy, sulfJc:ienlto CINtJIltle pIamed capIal e~1I'I (/tier lIbove). 'MlIst IlIo,r,4ng /of some casillo be setaside il oroer to gt8dual~ build '" setlll-petmanenl extIbitions re-..es Te Mlr1llW1 haYe p1Mlned lor slgl'llftcantrefufbIshment! of the seni·permanenl exhbllions lllal ..t make cu long lerm gatlolles rTlOnl vlbr.lnl ..,d engll(le morevlsltol1. We are hOWlMlf I'e/yi'Q significantly on lNrd party re~enu81n order to actie'Ie this aoo thus, lh'rtl parly re'Nluewill remain afocus.

14. SWEPtlEHT Of CASH BALANCES & RESERVES:Vtty~maoag~ ollMllll'OOS wil be f9qlhj to maintain a poSitlve II'ia9ged re98f\I8S (Mlr next years il order 10belli meetin;l (11.;1 epera\lOnaI etlSls and gracIuaJy~ 141 0I.I1tl8Orve8. There is., an ilcfeased *oMOll on Itud!lilly ANeI'Ue II mllllt lhelorecast llMlIol openlflg cosls and~ lor .. reserves 10 be bta 1.'9.The tables blIlO\lII' IndicaIt !hi WiJ'/ Te Manawa Wends tl pcklafty WId up lis f'8S8MI whilst filii IWIIl a potilNe"'_ .........

5

95

201.,,' _,a ...... 20111'1'...... 2011117 ......

201""_ ... ova ...... ,...., .''lIM ...... ""I"" -, ....." -"'... l""louO "'...,Cie'oelwFund •.2., ...... 1 '" lUll '" lUll '" 132"

Tot.1 Encfowj",.,.. rIInOI , 2.'10 '"

.., 11 II '" 1211 '" 13211

201411. For.en'lt 8udllol 201511. 6~dOOI 2010117 !JIIGII·1 201711'SpuNk: RoI..... I -' 30106111 i.,:~~,~ "- It,~:''''~: "- lr~~'",~ .....'

CoIIc:llon 00W..........11 :J.-ll•• 31752 '"'' 27752 .- 31752 ... U7n

HilI;I.1QII """"'llllI.oel tl "., 11 ....1_.- .. • . . Un1 .

6eIolo-F9<m.......~........ 0. II.p"",,~,- '" .."" ".. 1201100 "". 1.'0011 .."'" ...TOUorSpoclfle ,,"-_I 113.221 lIU33 .. 111 S3 ,,"'" 111 S3 .."'" ". ,The proapecll\lll finardal $tatements tlo no! pn:Mde lor alllAlCa$l net mc'lemefllin Itle markel vakIe of coIl9ctiln, due klno data being readily a~arlable for assumptions regardirlg lhB markol value of COIloclIOn! meta Revaluation of cdlecl/onassets II anon-cash Item,

The table below iOOicaes the Impact of lOAlC8SI cash bala1C8S upon \he IOt$cast tagged and urtaooet!l'e99fV8S.- - FoNc••, ...... "-, ......N'....,' 201 ilIl!l 2OU/l, """n 2017'"

• I • • •CloIIng 81'* a.'-nc. '",7TT 7",011 115,D51 714,415 $11,7"

Atprn....od &oj:

c.,~ Com"'llm_'Supp~er, .11(\ Surl(f'Y 1")'IIblol 160,000 110,000 1110,000 1&0,000 \10.000e",plo~. enU.menli 117,000 117,000 lS7,000 161,000 167.000GSTPI\'lIbli 42,000 42,000 .2,000 .2.000 .2,000

"'1,000 ''',0011 HI,ooo "1.000 3",0001M. 0pIr1tl,. Cloltl RK.Mibll'

C",IIOm'" .nd Sundry R_...-DlI1 ""'" ,.... 35.000 ,,,,.. 35,000In_tRtotMI>lI "'" ,.. 1O. "'" "'"

.U,700 1",00 31,700 31,700 35,700...............C....IyFlH'lIII '''" 10.fiI 11 .•'" IUtl "",

11,2.' 10,'" 11,." 12,311 lUll$pI<:Wle Rftet.....

CoIloetion De'4lOpm.nt ruM 3".'''. 31,7~: 27.751 31.751 :)O,7~2

tH'lane..1 Bulldillg Millnlen,tIC* R,""" lQ,Oll ,g,081 19,081 19,011 19,061S.ml Perm.n.nt ellllDI~or1' 0Iv &. RII\iIaII..~o~ 100.000 foo,ooo 120.000 1.5,000 115.000

" f",tn f5O,nJ 1.un 191,nS 2.0,133

lwotlUog Clopltl. ProwIlolon >S..... 15O,DOO >S,.... 250,000 "'...T"IIlII<l~unu 7Q,771 144,7Jl 7I1,n2 711,'32 137,432

~"".,- " ".... (2"'04) ,." ,.., .,,,.. 715,717 711,1)" lll,Or;, 714,4'5 14'.11'

6

96

r. "new........... Trvlt

ProIpeel""- SI.I"",.nt III R1t..._ .net Expo,.••

for hi Th,.. Y... Enlted 30 Ju~ 2016, 2017 & 2011

...... Bu.t ForKut BudlJll Budgol Budlil· t

201.'15 201.,.,5 2015J1I 2016M7 2017111

• • • • •.... ,Uoo••

",ft_

PNCC Open.1on1ll GrMt 1 2,938,5" 2.838511 2_2.065 2,.885.782 3008,888....I~.I~ , 23.000 33511 25.000 25,000 25,000

0ItlIf R.-II. • 72li17$1 1505209 112li172' '49881 06>039

TOlal RJlwnlll ),191,321 U77,364 ),116,1'3 3,160,663 3,117,nl

Expendltur.P.tIOMltl eolll • 2,067,913 2,07o.e96 2.003,1138 2.131,077 VS5,3Ot'I

"""'" • 1,013,1.8 811,Sn 8)4,392 837,112 8<4.,255

Oo:uJNInc:yCOIts 7 321.390 2&8,M15 JOS,4215 301.129 310,251PNCC l __ & SLA'I • 81,373 1l,948 12m 82,520 ",020Inrer"t~. · .. · · ·o.-JoNffTlOlllMon • 281,321 21ll,011 S17,MO 318,644 324,228

All. W'rllIn Olf · · · · ·TotIot Opt...tIng Elfpondltu,. 3,111,1.' 3....,152 3,124,031 3....,161 3,71',H1

OtM'rUIng SllrplulJjOlnclt18lror. CoII.~llon " (1.,421) 28,212 (1.222) (23,111) (2"'34)

ColleCllon Mowm.nt Incom.

Cu.lor;lI.I ....101i ',000 17,035 ..... 5,000 ',000Don.tad ....... 20,000 35,182 20,000 20,000 20.000

coaactlon "'-m.nt Expon..

C\I$IOdIlllAiIOIiR~ · · · · ·NIl ~tIonMowm.nle • 25000 .. " " 000

25000 25 0

Ntl SllrpllllllOlRc:lt) (",4211 '1,43i 11,nl '...' (3,h41

Othe, COmpr.heneMo~_.ndElIpo"," · · · · ·lot11 Comprlhol'Oltve ReI..."",. Ind Expon.. (51,421) 11,.439 17,171 1,412 (3,134)

The ICcompanylng noltt and 8C(:()Unllng po!icl.. lotm pat1 or the jlIl)8plctlVll ftl'lllnclal Iletomenll

7

97

T. Ma..-w. Mun_. T.....I

'""'-pee.... 't.kfMnI of ~IIC'-IPwllion

"..I:JO J..,... 20111.2011 & 2018 _. ....... Fo,ee.,' ......' ...... "2014111 201oU1~ 21111l111l 201&117 2017118

I I I I I.. ",Jr_JCl15

.-.....e-Ill ""'11C"".I88nk 11 m,771 113,02' 1M,Ost 184.495 &.tU'"5IDdl. o! MtId\8ndl.. "000 37,000 ",000 ...., ",000R-..rMlIn trwn Hon-Eldl.... T,.,..do,. 35.000 35.000 ",000 ".., 35000

R--'b./rom b::na_ TrI5n..e:tIotl. 700 700 700 700 '00Tollil CUtrelll ...... 1138,<177 "11,72' 83ll,7119 86<l.1"5 "'7",89

A.'lId Atlell

Inlorma~onT.d1nolog~ 29AIl5 2ll.6<13 21,1132 26,31' 21,198

Ellhlbllionl 814,<125 11"5,555 720,84' !llM27 53',182

FlImilullll II Filling. ",,000 85,214 "7,0Il1l 80 478 110,111

l"MhoId .,,1)1'0.."'.... 127,311 tIl,111 100,07" eo~' 112380

PlaIII. ElIl/lPIn_ 1<1',232 133,270 lGl,<l5O 203..,. 11l3.86Il

CoItalon AI... (OwnfIdJ U3$,7111 USll,211 Bl07,211 1I,i5221 I 8.""7.211

COIllIdootl AI... (CInkld.81) IISM,337 11.5".7&<1 &,604.7&<1 11.8011.1&<1 8,1I1"'1lA

V*"k ill P" *. · · · ·lotll FblIcI A8.... ''',398,489 '4,701$ 14,628 243 14,531l_ 14,!I11,OIlIl

Other NOII-ClIflrIl'It AI.e_

,". ,bI. Atnll - Software 221132 181135 '''00 1231123 100 '95

TOIlI NOII.cllrronll'8••11 " 14421321 14118203 148904<13 14862,489 148113111

Tot.IAlnt. 1125'781 11103 " 1& 5212-02- 1812-2184 " " "ClIl'Nnl Uebol,lIe.

CIlIIo:lIlots, ProI'IIOnI 8 P.,.." '00'" ,eo 000 1110.000 1110,000 1110000

Emlllol- BittwMl '" .., 187,000 1117,000 181!#J 1111000

GST Ptwbl.IRKelwIbtel ,,"000 42.507 ""000 <12.000 .. 000

TOIII ClI""" L1,blltie. "',000 ......' ,,",000 ,,,.., 309,000

IIIon-ClIfNnI L,1Ib ~... · · . · ·ToW Non.(;lIrrenl LI.b~ilie. · · . · ·Tot.l U.blllllt, '" • 31lt &07 '"

, 3IS1000 '" 000Equity

TNII Equity 10,41&,141 10,~IUMl 1ll.58-4,4&9 10.512,381 10,112-1,949

RI5"lol'd Surplu' CUrTOl'It Ye.. " (~,<l19) '1,<139 11,771l 1,<182 1383<1)

....151 ~k1'.0tI R"_ .. 4,311,1103 4,371003 4,311.&03 4,371,6(13 4,311,1103

Spec:iIlcRn.,.,.. .. 153,225 150,833 l&e,833 ,..... 2<10,833

EIllkIwnI8111 FlIlIdI " .". 10MI llADt 12.3" lUllll

TOIII TNiI F\IndI 1<1.1107. 11 t)4.o414 1"I2.:flZ 11113,1... 1&141.110TOIII UlblIllln ,nd Trllli FUndt U28"" " , " 11 Z1 zn 11 ZUl4 U&,. 10

WOOO"llC8P1llJ 4&9411 "",221 41UlI" ..gl,195 S38,~

The IlXOlTIP"nyIng not.. ..-d accoul1long poIk:le. fofm pall (lithe ptOSJltCIIw !lnenCaMlltalemenl1

B

98

TI Mlnewl M~lumlTrult

PI'oIPtc..... Stllol ....nt of CIlII AowI

For ... Tht$I~ E 3OJvnl20 15 20 7I2Otl5

~__wlllll"l*....~--.prlleh>l. ... o;:aaII tAM If 10 1\1\4 Cl(ItIl ........... '*'*-td """" CMhAow.lf....O'-...~ wllllll ......... 'Gf_lOf\n:Iu;lil .-ed_a.~RiIor.,rcm~-ThI~_ ..... ICCOUfl!oIllI~ICIl'JIll*101...PI~I~.I._

.n """, ,

...... ......' Fenc,lt .....' -.., .....'2014/18 2014111 2011111 2011"7 2017111

I I I I I

.'~lJ.. 2Dl\

CIlII Rowl I.Oftl Ope.UlngActMtI..

Cllt> ..... proyidod from

PHCCGf... 2,834~77 2,81&,671 2,8&2.015 2,flaS.182 3,00ll,see

Olhel'Re_1II 7~,151 .".... S2$,7U 649,SB1 '".os'In_.t 23000 ...... "..,. ,.." ".,.

- -3.081,328 3,6(M,151 3,018,813 3,860"3 3eal n8

CI.h WI' dllbu...d t1:

~l"oN 2,06822~ 2,018,221 2.oa3,038 2,131,077 2,15~_308

SuppW,rt l,~O7.570 1,2"15,12~ 1.215,337 1,227 ,~60 1,237,027

Inlllre.1 - " - -Nil GST OJII\ow41n1ow1 - 1252 50' - -

3~75aoo 3331 Gll3 32"8152 ,,.. 3 3112.333

NIlI CIlII FIowI from '" ActMtlll' '" " '" • ~17 Ul 2"121 2113..

C.,h flow. from .......tlng A<:tMI*Cash _ pnNded from

s.lIoI ...... - - - - -

C..h WII dllbll...d 10

Pufd\8•• of ""'lI'l»e ........ $0...._ 18,000 10,501 ".'" 00000 -Pu'dle•• 01 Lt...hold Impro.......fllI ~~,OOO 14,000 20,000 - -Pufdln. oIlnlormlUon TIdlnOJOlI~ 18,000 8,"85 9,600 10,069 '.000PuIct1." of E",lblllOfl' 80,000 ~2.. ,588 "2,000 72,~00 175,000

Pun;:h... of Furniture & FlllIn", 22,000 22,000 31,300 12,SOO 20,100

PuICh.., 01 PIt"'," EQIl pm,n' 31,882 ...... 87,200 .. '" 20,000

PulChe., 01 ColIee*ItI "..... "..,. 45,000 21,000 25,000 25""_. • - - - -22'2182 551."58 .."" ... 248100

NIt CIlIl AowI lfOlII '""'" AcIMMI " m , ." .. H5100 Hl,lI' 2U 100

C..h Rowl frOlll "'-flClng A<:11Yllln

Cash WI' prolided fr(W'fl

ProcIllda ol71fm LOlntllAnlnce L..... - - - -- - - - -C~.h WII. tlllburt.1I 10:

Reoa.".,.n! olTonn LOlnllFlnllflOl Loa... - - - -Nit C.I"~ from A",,"c ActMtI.. - -Net Inmolle.'!DecralH,1n C••II~ " (7,334) (211.188 52,031 21,~38 .7,2'"

• C••h BaIanc;::iM 773.111 ..,..."~

765MI ,....."'" TobICllhe.llflC.. 7U771 '" " ,... 7....... W, ...

9

99

T. M....w. MIIt'IIm' T'u.1

Budgtl Ailcoroclb'lon of Ne' SllfpkN wkh Cuh Inflow lOul1Iow) from Optnlllng ActMtlt.

Fa Tll 3 zoe &Z08.0. m Yu" Ended ',"M , 2017 ,[lucri lion

_.Budae! Forte", ......' Bod~' ......'20,.", 20,.", 201&11. 201l/IT 2017/1., I I I I

.lIIll.Iool_

.." ," "A21 IU3t 11711 UU ,..3.

~ban.1I(I.....I'M•• Down 2V1,327 288,077 317,880 3UI,a.... 32.,22a

Olh.r Non Cllah Item. 125000 152-227 '"000 /25 OCKI 125 OCKI

206,9Oll 315289 310638 296 126 '" "..cdd(deduet) mlMlm.nllln a"~worklnlilcap'\8llham.

C~ 101 Mt«::h.ndlt. '... 1,804. 7,000 - -ClwFIIiJIIn OtlJlolW and Slftll)' R_l\08b!e, .0,088 11,876 - · ·C~ In Irl....! R_IIotOIt ... ... - · ·~... lnTnMle e-stln, Prvv. &~•• (35,151) ",000 - - ·C.... ln (mplafM U_IbI. ','" '... . · ·~a.ln GST P')"OIt IR.otNablt) 11,198) (7,2~) (507) · -

Net C,,11 FloW. lrom 0 r.Un ActMU.. 21' 21 272 Ie 317131 21.126 21e 3&04

10

100

Notelto the Prospectille f1n.ncllll 11Itel'Mllb

1 Shltemfllt of Accountlrc PoIldn

R(POtITING ENTITY

Te Manawa Museums Trust (Ihe Trust) Is a charitable trust incorporated In New Zealalld under the Charitil~TrustsAct 1957 and Is domiciled In New Zealand. The Trust Is controlled by P.lmerSlon North City Coundland Is a CouncltControlled Oraanlsatlon as deflned under section 6 01 the Local Government Act 2002, ~ virtue of the Council's rlShtto IIppolnt more than 50% of the 8oar<l of TruSIt;eS,

Tho Trust was IncOfporated on 20 AuSUSI1999, from that date, the Truslllssumed responsibility for Irt works andherllage ISseIS transferred 10 Its tare bul held on behalf of others. From t July 2000 the Trusl commenced lellslntlthe premises and minasIn, the institution under II8r~n'lentsentered Into with lhe Palmerslon North Oly Councll.the principal placeol buslnm Is 326·336 Miln SIi'~I, Palrnerston Norlh

The primary objectpw of Ihe TNst Is to provtde Intef'lCt~ ~~rl@n~ In ¥t, .sdence and hlslory Ihroulh Icqulrinc.conservlrc, researchlnc. deveIopins. communlcallrc and e.hlbitlns 1fUI1fl111 evidence of people al'ld theire""'tronment, rJther than makln& iI commercial nl!lum. Accofdtnsly, the TNst Ms desilnated lse" •• public~orpublic benefit entity for the purposes of Public Benefit Entity At:countlnc Standards IPBE StlndllrdsJ

BASIS OF PREPARAnON

The prospective financial statements 01 the Trust hllve been prepared In accordance with the requirements of thelocil Government Act 2002. which Includes the requirement to comply with New Zeala!ld Generally AcceptedAccounting Pracllce (NZ GMP).

The prospe<:tl'lr flnlnclal statements hi.....! been prrpared to complv with Public Benefit Enllty Standards lpllfSlindardsl far I T\rf" 1 entity.

The report'rc period lor these prospective flnlfloC'-l slltemenu Is the veilr endlnl30 June 2016, 30 June 20t1andrespect....ely 30 June 201a. The ptospecdve flOilncla1 statements InI! presented In Hew Zealand dollars, unlessotherwise stated.

The KCOUnUI18 potodes st1 out below haW' been appled consistently to all periods presented In these prospectivefinanelltll stalemenu.

The meuurement basis applied Is historical cost, modtfled by the revatuatkm of Colle<:tlon IIssets liS Identified In thissummary of slRnlflcllnlaCl:ountlng policies. The accruill bllsls of accountln8 has been used unless otherwise stated.

Chankes In AtcounUnl Policies

From the yelSrcommenclnl 1 July 2014 IS new AcccuntlOfl Standards framewoftt developed by the (.ternalReporting a~rd Is Ipptlcable to Public Benefit [nliltes, replacing the previously applll'd standards with. new wlteof Pfl.E 1Ct0untlns standards. This framework IllCOrPOrates a tier structure with the TNst dasslfle.d b't' def.ulllS ITltr 1 ~portllll entity required to appl'f full Public Benefit Enul'f Accountlnt Standallts. Standards developed arebiised on current Intemluontl Public sector Accountl,. St.nd..-cls. The Trustl\as .oopted the new stlndMds from 1July 2014 with the new standlrds not requ'r11lllny materlil adjustment wtthln 1M prospectllle flnancial statements.Other tllan adoption of lhe Pill accountJnc standarcls there "'\Ill been no c"-nces In ucounllnt poIltles dunrtltheflnard.1 year.

11

101

SUlrtd'rdJ, .mertdments,.rtd Intltl'pretilltions lHUH thlt .re not yfl.ffettNe and M¥il not been urlV Idopted

There iIIre no sl,ndlrds, amendments, .nd Intefprel,ulons,lnued but not yet effective th,t have not been e.rtyadopted, and which are relevant to Ihe Trusl.

SIGNIFICANT ACCOUNTING POLICIES

Revenue

Revenue Is metiured.t 1,lrv.lue of consideration received or receivable.

ReYrflue!nitV be dert.oed Irom etther e'Ilcflance Of non-6ctlanse t~rtSKlions.

Rewnue from Non-ewchilnle trwu.etlons

Revenue from llOn-flCh'rce lr;tnSlCtIOlU ,rises from tr;tnslCtlortS that a~ nOI eKclwlnge tr;tns,ctlons. In non­elt(.hange traM,ellons, the Trwl either receives value Irom or II\les v,lue to another party without dl~ctlv IMI18 orrecei\llnl approxlm,lelv equal value In eKchangll

ApprOMlmallll'f equal value II considered to reflect a fair or market value, which 15 nornl,lIv commensurate with anarm's length commercIal transaction between a WIlli"! buyer and willing seller. ManV of the services that the TrustprovIdes for a fee .re cl1<lrBed al below market v,lue as they ,re subsldlsed by P.lmerston NOt1h Cltv CounciloperatlonalSlinl, sponsorship, 1000mment/non-eovernment ,ranIs, Other services operate on a cost recovery orbreakt'\len basis and are not consl6e~ to refiKt • marllet return. Most of the Trusl's r~ue Is thereforeGltelO~11 non-tlldlance.

This Inc~ PNCC lrants, t,..nsfers from IQYemment/non-soYemmtnt entltles, don,llons, donaled/vested .ndcuslodlal collection Items, sponsorship, In kind sponsorship, revenue from services supplied at subSldlsed prk:e.

Specific ,ccountln, pollclei for malOr Gltesorles of revenue from non·uc.l1aflle Ir,nwellons are outlined below:

GrtlntsGl1Ints received from PNCC are the primary source of funding to the Trust and are restricted for the purposes of theTrust meetllllliu objecllve5 as specified In the Trust's trU~1 dt'ed. The PNCC Irantls reCOllnlsed iIS revenUII": whenI'f!celv~.

Revenues from non-excNI"le InlOsaetlons wllh CouO(,Volhet' lovemment/non-perornent entitltS are melSuredat fair v,lue and rllCOlnlsed whoen the event occurs and lhe ilSSfrt recognitIOn cmena .re met, IIlhe transfer Is free:from condItIOns and it is probable tlwlt the economic benefits or service potenllal ~i1ed to thoe ilSsel wlN Row 10 theTrust and can be measured reliably. To the elltent that there Is. re!.ted condition attached that would live nse to ahabllltv to rep..; lite amount, defem:d Income Is realIlnlsed Instead of revenue, and recocnlsed as revenue whencoodrtlons of the IIrant are satisfied.

Renderinll ofserllkesRevenue from the renderlnll of services where Ihe Sf!rvlce provided is non-exchanlle Is recoe:l1lsed when thetransaction occurs 10 the eKtenl Ihat a liabilIty Is not also rccosnlsed. For these tranncUons the revenue 15recosnlsed by r1!ference to the st'Ke of completion of the transaction at the reportll'lll dile.

WithIn renderinll of 5eMces lhe only r1!Yenues considered to be eKc:haOCll revenue ilre from Venue Hire

Vested Auel1Where. physbl .»et Is "fted to or vest~ In 1M Trust for nil or nomll'ill COnsIdeRllon, 1M f.lr vak>e of the assetreceived Is recocnlsed is Income. Such Income Is recocnlsed wilen control over the assells obtained

12

102

'/II Kind'SpotUOfJ1lipThe TrUSI 1'e(I!1ves sponsorship 1n kind' by way of &ODds ..nd strvlr:es provided 11 discounted or nil charse. Wherl!thl! fal, value of these 800ds and servites an be reliably rT1euured, Ihe Income (and e~Ptnsells rec:ocnlsed iIS

'sponsorshIp -In kind' In the period In which the lOads or servlcf!s are rKeived.

Volunteer Servln!:sVolunteer services rKelved are not reCOinlsed as revenue or expenditure as the Trust Is unable to reliably measuretile ralrv.lue ollhe stNk:es reulved.

Revenutl from Exch'nce transactions

SolaolgoodJRevenue from the sale of loods Is rl!COInbed _tlen Ih. s18nlf1canl risks .nd rewlrds ofownenhlp IuIIIl! beentfillflsll!l'l'ed to the buytor, usu<llly on delivery of tile IOOds and when the amount of revenue can be measured reHablyand It Is ptobible that the economic benefitS or servite potentl.1 associated with the tnnsaetlon _ill flow to theTrust.

Interest IneomeInteresllncome Is rec08nlsed U~118 the effective Interest method.

Borrowl"l CostsInterest expense Is f"l!«llt"lsed uslna the eflectlYe Interest ute method. All borrowlnl costs ire expensed In theperiod in whkh they <Ire Int\lrrl!d

OepredtlfJon lind fltrIOf'tiUltlonOepre<:iiltlon of property, plant and equIpment and amortisation of Intln&llNe il-uets are ch.rsed on a stra~t-lIM~sls OIJer the estlmil-ted usefulille of the associated .uets.

Leases':/nonee LeousA finance lease Is. lease th.t tlansfers to the lessee sub5tantiaUy all the risks and rewilrds Incldentalto owner5hlpor an asset, whether or not title Is eventually transfemd.

At the lXImmencement of the luse term. flTlance Ie.ses .,e reCOSTlIsed as asseu il-nd IlJOlntles In the stil-tement offiTl<lncbol position It the Iowl!l" of the filrvii.lue of the leaSftlltem or lhe present value of the minimum leasep<lyments.

The fllWnce chil-rae Is charled to tile surplus or deflot 0Vl!t' tile lease period.so as to ptOduee" constant periodk1~le of Interesl 011 tile rermlnll'lll ~1iI.1lCe 01 the liability.

The amwnt recotlnlsed IS an assells depre<:lated OIJer Its u$lI!fulllfe, If there Is no Clrt.lnty as to wketller the! Trustwltl obtaIn ownership at the end of tke lease term, the asset Is fully depreciated over the shorter of tke lease termand Its useful life.

O~rotln" liUlsesAn optI'iItl,..le.se It a Ieise that does Tlot tr.nsfer subslantlilliv all the rtsIts and rew'rds hw;IdeTltal to owlleRhlp ofan aut! Lease payments under.n oper.t1roK lease Ire fecosnlsed as.n expense 011 a SIr.llht·I'M blI~s over thl!lease term.

~l.Se incentives receIVed are recocnked in Ihe SUlpiUS Of deficit overttM! Ielse telm as Itllllles~1 patt of the totil-Ilease eXpl!TlH.

C<lsh and clSh equlv<llents

13

103

Cuh and cuh ~ulwolllentSlAdude:s cuh on holItId, 6epC'I$IU held olIt all with banks, othe1" lhof1-ttrm hlshlr liquidInvestmentl with Gnl'MI ffio1Iturities of three motlths or 1esJ;, olIt1d bolInk owrdl1lfts.80lInk overdrllftl a,e presented within borrowillp as. wrrentilability In the ltollteml!f1! of f1Mnclal po$lIlon.

Debtorl and otherrec,Iv,blfiDeblon and other receivollbiM Ife initially mUlured olIt fair volllue ,tid wbH!quenlly meollsured It olImortlH!d costUSI"l the effect ....e InterMt method. IMS 1"'1 pl'O\llslon fOf' Impairment.

A pl'OYlslon for Impalrmenl of I realvable Is established when there Is objective evidence that the Trust wll1 not beable to collect amounU due accordin8 to the orl&lnal term~ of the receivable, Significant floanclal dJlflcultles of thedebtor. probability that the debtor will enter IntO bllnkruptey, receivership or liquidation. and IIcfault In paymentsIfe considered IndlcatOrJ lhal the receivable 15 Impaired. The amount of tile Impairment Is tile difference betweenthe auet's carrylol amount atld tile present value of estimated future casll flows. dllcounted uslns the originaleffective Interest rate. The Clfrying lmount of olin lmpalr@d rt!Cf!lIIable Is reduced throulh the use of In "11o....nceleCOUnt, Ind the Imount of the loss Is ~ocnlsed In the wrplus or deficit When the reulv.ble Is uncollectible. It kwritten orf splnit the allow.nce aC«Xlnt fOf' ,ecelvollbles OIIl1!l'due receivables thllt hollve been feneaotlated Iref'KIaulfled n wlT'II!nt (thollt Is, not past duel.

ln~torlll!$

Inventories held for dIStribution In the pf'Olfblon of s~es thlt Irt! not supplied on I mmmerclolll bolsls al1lmelSured It cost, adjusted when appllable, for Iny loss of service potential The cost of 1000eniory Is determineduliOl tile first-In flnt-ollt method. The lou of H!rvIce potential ol1nYenloty held for distribution is determined onthe blsls of obsolescence. Where 1000entories Ire iKqulred at no cost Of' for nominal consideration, the cost Is thecurrent replacement cost at the d~te of acquisition.

InVi!ntorles held for use in the pfOlll510n of goods olInd services on I commercial basis are vllued at the lower of costor net realisable value. The cost 01 inventory II determined IIslns tile flrsHn flrst-out method.

The .rnount of allY write-down for the iou 01 service polentlal or from cost to Jlet replacement value Is recognIsedIn the surplus 01 dendtln the year of the write·down.

InllestmentsInveslmenU In bank depos,ts Ire initially measured It fllr value plus tfinSilCllon costt (illny).

After IMill reco&oitlorllO\l'tStmeltU In bani:; deposlu are menured It olImortlsed cost usi,. the effective InterestrIIte,less Iny prtJIIblon lor Impllrment The Indklton Ind the KCOOntlfl8lor inlpalrment of blink deposits Is the»me 011$ ellplalned olIboYe for 6ebtors ItId Othef ,ece4vIb!eli,

p,openy. Plant olInd EquIpmentItems of property, plantlnd equipment are slatl'd 8t historical or ck!flrled cost,less accumullte<l deprecIation andimpairment losses. Where parts of In Item of property, plant and equipment hi.... dillerent usefullllles, thly Ireaccounted for IS seplrate Items of property, ph,"t and equlpmt!Ot.

AddltronsThe cost of an Item of property, plallt and equipment Is recognised as an uset only when It Is probable thaI servicepotential anoclated with the Item will flow to the Trust and the cost olthe Item can be measurt!d reliably.

In most instances, an item 01 property, ptant Ind equipment Is Initially rt!COIInlsed It in COSt. Where an ISset isKqUlred olIt no cost, or for I rIOmlnal cost,lt Is recognised at lair value when controt olltr the uset Is obtllned.

DisposalsGolIlrn ~nd Ioues on disposals are 6etermlned by com!H'rlnl the: procHds with the carryl. amount of the assel.GliN and k)sses on dlsposab Ife p.~nted flelln the turplus ofdeflcrt.

Subsequent cosu

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Costs incurred subsequent to IMiiIIlacqulslllon ue c.."td~only when It Is prolNble lnat I.efYIU! potent"llaSsocbited with the lIem wMI flow to the TlUSt and the cost of the "em (in be meawred rel"bly.The costs of o.y·ttMIay servldnl of pr'OPf'rty, plant. and equlprMllt are 'KQlnl5ed as an eKpenw, itS they areIncurred.

la) Furniture, Equipment and hhlbllS

Furniture, equipment and e~hlbllS (eKcludlng arl.nd heritage collections) Ire Yilued .t cO'St lessaccumulated deprec"tlon and ImPillrmentlossu.

DepreclorionAssets are 6r:predaled on I strallht-llne ~sls It ~t~ that will wrlle off their con less any ettlmatedresldu.! yalue OYertM expected useful life of tile asse1. The uselul lives of malor daS:k'S of aS5l!ls have beenestlmited 11 follows:

Information Te<hnoloevExhibitionsFurniture & Flnll'lpleaw,hold lmprOYemenuOffice EquipmentPlinl

It05yNrs2 to 10 years4 to 10 veilS41010 vean41010vears4 to 20 years

The residual yalue and u~fuilife of an usells revl_ed, and adjusted If Ipplable, at each financial yearend.

(bl COllection As5el:s

As the Hertl. Collection .nd Art Collection ISHIS Ire Inteoded 10 haIH! an Indeflnlte life, they Ire held Intrust In perpt'tully for the benefit of the pubic.

The Herttase Colltctlon .nd Art Collection have not bl'en deprl!C~led, as It Is the Trust's policy 10 maintainthe collections In their currenl stile, In accordance with the Trust'S Collection Pol,des.

All .ddl1ions to the Her1lnee Ind Art Collec:llon Irl! recorded at cost. Tlw!se additions will be reYalued Inaccordance with the Trust's Valuation Policy. Donalll'd obJects are recorded at fair value, or depreciatedreplacement cost, or nil value If considered unreillsable or Irreplaceable.

CustodIal Collection Assets are objects Within the Herltace and Art Collections 'lot form.11y owned by IheTruSl, where Ihe Trusl has ISwml!'d III the righu .nd obIlptlons of ownership. Within the Heril:aseCollection this Is limited 10 Items on loan for an Indeflnlte period, exdudlnl works on loan from otherMuseums al'd Cultu~1orpnlsallons. In relation 10 IhI! Art Collecuorl, the nature of artworks and anecdotalevidence suuests Ihat IMie Is I hi&h likelihood of requesl for return of loaned IssetS, lrrespectlYe of theloin 1Ifllod, therefo~ only Items on loin from the Te Manawa Art Soclely Inc. Ire I'1!!C08nlsed 1$ cwtocHalISse". These assets are hekllll'ld mllntalned by the Trust by IIfl!l!ment with the oWl1l!n.

lei Revaluation

The Arl Collection asseu are rcvakled every three years and the Heritage Collection ISseu every lour yearsto ensure that their C4irrylng amount does nol dllfer malerlillv from laIr value. Alt other C155et classes afecarried It depredaled hil.toncal cost.

The resufts of revaluln,"e credited or debited 10 an auell'1!!Y.l~tion reserve. Where lhis l'1!!Sults In a debitba~nce In the asset revaluallon fl!Sf!fYt, thb ~ince Is charted to the surplus or defldl. Any subsequent1n(f'1!!lse on re'l'alullion that off·sell a pI1!!\Ilous decrease In value rec08nl~ In • Pfevloos year surplus ordeficit, will be ret"OI"Ised ftlit In lhe surplus or deficit up to the amount prevtously expensed, .nd thencredited 10 the revaluation reserve

Intllnllble AsseuIntanslble Inets arl! shown it Cosl, less accumulated Imortlsatlon and ImpaIrment Iones.

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So/twtn Acquisl/JonAcquired computer SOftWil'e Ik:enses are cap/l.~sed on the basis of tne costs Incurred to .equlre and brirc to U:loethe spedflc softw're. Staff train!.... com are rKOlnlsed I'i an e..pense when Incurrm. COsts .uoeiated withmalnt.lnl.... computer software art! recosnlsed as an e..pense when Incurred. Costs assocl.ted With tlledevelopment and maintenance of the Trust's website are reoosnlsed as an e..pense when Incurred because thewflbslte Is primarily for promo/lnB tile Trust's SfllVlces.

AmortisationComputer software licenses Ire amortised on II stralBht-llne basis over thelrestlm,lI1ed useful hfe. AmortlSltlonbeslns when the Isset Is a\f.ll.bIe ff)( use and celse1 It the date that the asset Is diSposed of. The amortisationcharge lor each period is recosnlsed In the surplllS or defltlt.

The estimated useful.~ Ire IS follows:

Software 1-7years

Impairment of property, pllnt and equIpment Ind Intanllble luetsFor the purpose 01 Impairment of Properly, plant and equipment and lntanslble assets, Which are carrkld at costless accumulated depreciation and Impairment losses, the Trust classilles Its Items 01 propertv plant and equipmentand InlanBlbles as non·cash 8enerallnl:l assets, as Ihese are not held with the prlmarv objective olgeneratlns II

commerdal retufn. butl'ithel for service delivery purposes and to dell\fer to Trust's public benefit objectives.Properly. plant and equipment .nd Intangible .ssets 'fe reviewed for Indkators of Impairment annualrt. Whenthere Is In Indicator ollmpllrmenl" the l'isets recoverable amount Is estimated. The recovefable amoontls thehllherof In ISsets hllrvaille tess costs to selland 'lIllie In use

VIJue In use Is deprtdated replacement cost for an lSSet where the servICe potemlal of the asset Is not prlm.rilydependent on the I$set's abWly to Henrfllte ne1 cash Inflows and where the TfUst would. If MprMd altne asset,replace ~ 1'I",IInI"l sefYlce polenlJal.

If an asset's canylnSI",ount e..ceeds its recoverable amount. the asset Is Impaired and tile carry1ns amount Iswritten clown to the recoverable ,mount. The total Impairment loss Is rl!«lsnlsed In Ihe SUrl)luS or deficit,

Creditors and Other P"yabtesCreditors and other payables lire Inltlallv measured at faIr value and subSCGuentiv measured al amortised cost uslnsthe effective Interest method.

Borrowl"lsBorrowlAas lire Inltlll1y recocnlsed .t their fltr value plus transKtlon costs. If '"V .tJter Initial recosnitlon. allborrow""s are: mfitSUrM itt amortised cost uslrc the effect~ Interest method.

Borrowings are classlfle.d as currenlliabilities unless the Trusl has an uncondltioNl rlaht to defer seulemenl of theliability for at !tUIU months .lter balance d"te or If the borrowlnp are not expected to be senled within Umonths of balance date.

Employee EntitlementsShort-term Entlt/eme/I!SEmployee elllltlemen\.S thlt Ihe Trust e~pects to be 'eltled within 12 months of IJalance date Ire mealoured atnomlnll v.lues based on .a:fUed entitlements at current rollles of pay.

These Include ularles and Wiles IICcrved up 10 ballnce d<lte, ,nnualleave earMd to. but oot yet taken at !Mlancedate. Ind ret.lre.nd Ionc; service leave entitlements flICpeeted 10 be settled wJlhln 12 months.

fong-ferm EnflllernenfJEntitlements that are payable beyond 12 months, such as 10116 service leave and retlrlnc leave. ha.... been calculatedon an actuari.1 basis. The calculations are based on Ilke~ future entitlements aCCfUlnsto staff, bitsed on ye,rs of

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lervb, years 10 entllll!menl, Ille Iil«!hllood tllit staff wll reKh the polnl of entltlemenl and conlr.lC1ualentlt~nl$lnformallon.

P~nrot1on ofCrnpk1yft fnt/llemenuAnnuallcave and Yflttd long Sl!fVia Ie.~ are c"'sslfll!d IS. current hbMJly N~ltd long Sfrvlce Ie.ve andretlrillllleiIVe e.pea~ to be seWed wllhln 12 months of balance date Ife dnslfied as a current liability. Allothet"emploo;~ entItlements .re cI,uslfll!d IS a nono(urrent Ilabll.ty.

ProvlslonsAprovision Is rKOflnlled for futufl! upendlture of u"'e,t,,11I amount or timing when there Is a prescnt oblJgatlon(ellher leg".1 or cOllstroct"'e) liS II reSult of a past event,lt ~ prob~ble thai upelldltures will be requIred to settle theobligation and a reliable estimate can be made of the amount of Ihe oblltlatlon. Provisions are not recoenlsed forfUlur! operating losses.

Provisions are measurtd at the pres-rnt \lalue of the expendllures e.~led to be requIred to senle the obU,allonusIng a pre-tax dlstount rate tllat reflects currenl maltet assessments of the lime \lafue of money.nd tile risk!;spedflc:: to tile obllgatlon. The Increase In tile pt'OYlslon due to Ihe paSUl&e of time 5 recoenlsed In 'flnance costs'.

Goods and SMvkes TU(GST)"" Ilems In 111e prospect1Ye fln:ancQl state!Mnu Ife Slaled euJuslYe of Goods and SI!fVICU Tall (GST), except foflrade recelYabll!s and p"-pbles. which Ire Stlted on. GST Induslw! ~l$ WIlere GST Is not recowrab!e M Input tallthell II Is recocnlSed IS part of the related assel or ellpellSe.

The lIet amount of GST recoverable from, or Pil'r'lble to, the Inl.and Revenue Department (IRDIIs Included IS pol" ofreceivables or p"yables In the statement of Ilnanclal position.

ne net GST paid to, or received from the IRD, Includlllg tlw! GST relating to IIlYe5tlng and nn.nclng activities, isclassified as an operating cash flow In the statement of cash flows.

Commitments and contingencies art dlsdcned exclusive of GST.

IncorneTaxThe Trusiis I!lfemp! from Income Tax by virtue of Its dt.aritable status,

Crltlc-' Accountl"t bdmlltes lind AssumptionsIn prepolril\fl tllese prospective fonanclal statements. tile Trust has mllde esllmates and a$$umptlons concemlllll thefuture. These estImates lind assumptions m-v differ from subsequent KtUlIl results. Estimates and assumptJons arecontInually evalullled and lire bu~ on hlstOl'bl txper1ence and other fllCtors, Indudlng upectiltlons 01' futureevents thilt are believed 10 be reasonable under tile elm/mstances. The f'Stlmates .lId assumptions ll1at have aslclllflclni rlslt of causllli a malertill adjUSlmenl 10 the arrylng amounls of asseu alld IllIblllties wllhln the nextnnandal yeilr are discussed below:

P,o~rty, Plonf and Equipment UseJulllves and Rf'Skluol ValuesTile Trust reviews the useful lives and resldull values of Its property, plant and equlpmentllnnulllly. Assessing theIlpproprlatellCU of useful life arid residual value estimates of properly, planl arid equlpmeJ'lt requires the Trust toconsider a number of faclors Includlrlll the physka! conditIon of the aS5CI, e~pcct~ period of use of the ilSset bv theTrust, alld expected disposal proceeds from lhe future sale of the ilsset.

Arlllll;orrecl estlmlte of the useful life or resldlJal \lalue will Impact on the depredable Imount of an ISsei, thereforeImplct1fll on the deprl!datlon expense feCOInlsed In tile surplus or defkit alld Ihe carry!rc amount of Ille ISse! Inlhe statemenl of f1r11ndal poslllon. The Trusl mInimises tile rlslt Oflhls eSllmlltion uncertainly by:

phVSlcaflnspectlon of assets;asset replacltmell1 prosrammes;rl!'llew of second hand martel prlcfl for slmllar auets; and

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The Trust has not mi. sllnlilcilnt chanses to ~u ISsumptlons concemllll useful lilies and reslduill values.

PUBUC BENEFIT ENTIn' FINANCiAl REPORTING STANDARD 42 PROSPECTlvt FINANO..... STATEMENTS (PBE FRS 42)

The Trust has compiled with PBE FIlS 42 In tile prepariJtKln of then! prospectlV'llllnandal uatements.ln accordaneewith PBE FRS 42, the lollowlns Information Is pr~ldt'd:

(I) Desalpllon oj t/!~ nOture OJlM entlry's curfenl oPtfotlon and Its principal activities

Tile Trust Is a Council Controlled OrganIsation, as defined In the lOCi IGovernmenl ACI 2002. nle Trust's principalMctlYltles are outlined within Ihl5 Statement of Intent.

(II) PlJrpo~fOf w111e/!.hI! prosp«t/w flrtrmclo/ slOCl!ments ore prepared

It Is a requfrement of the Loal Government Act 2002 to~t prospec:tlYe Iinancial statements thilt span over lyears and Include them wIthin tile Stiltemefll of Intent. The pu.pose of the Stilteme<lt of Intent Is. to 51i1te publldvtile let)vltles .nd IntenhOI'6 of Te Mana~ for the ye... ill'Id the ObjectIVeS to whlttlthese KtlYltles wi" contributeProspec:tlYe fllIJndal stltements ilre revised ilnnudy to ",I'eel upci;lted ISwmpUORS.nd costs.

(fiI) BosesJrx ouumpt'1I()fl1,. risks ond uncrrtoin!ks

The Ilnanclallnform.tlon his been prepared on the basis of best estimate ISsumlMlons ilS the future ....ents whichthe Trust upecu: to t.ke INce. The Trust has considered filctors that milY Ieild 10 I milter,al dlllerence betweenInformation In the prospect""e financial statements .nd actual results. These factors, and the assumptions made Inrelation to the sources of uncertainly and potenllel effect. are outllnl!'d within this Statement of Inlent.

(Iv) Coul/onary Note

The llnanciallnformatlon Is prospect"'e. Actual results are likely to v.,..,. from the Information presented. and thevariations may be material.

(N) Orher l)/stJosures

These.re the dr.1t prospective fln.nd.1 st.tements. They were .trIhorlsed by the Board for deltvery 10 tMPalmerston North City Cound on 26 February 2015. The Trust Is responsIble lor the jl«JSPif!(tlve Ininelill stat~ntspresented, Indud1nc ttt. nsumptloRS underiyhtl prospectl\lt financial stltements and an other disclosures. TheSt.tement of Intent Is prospectlYe .nd IS such !XlI'\lalns no actual operatlftl r~utu..

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