ICE
Annual
Report
2014
Leonie & Debbie, Kasey is Missing Project. Photo: Christian Tancred
ICE ANNUAL REPORT 2014
Contents
ICE creates community focused and driven art that is bold,
imaginative and adventurous, and delivers creative opportunities,
cultural empowerment and employment for our communities and
artists in Western Sydney and beyond.
Chairperson’s Report
2
Executive Director’s Report
3
Street Address
8 Victoria Rd, Parramatta, NSW 2150
ICE 2014
4
Postal Address
PO Box 4033, Parramatta, NSW 2124
+612 9897 5744 [email protected]
Connect with us online
www.ice.org.au
@ice_org_au
facebook.com/ICEorgau
infoculturalexchange
31st Information and Cultural Exchange Annual Report
ISSN: 1833-5306
© Information and Cultural Exchange (ICE) 2015
DESIGNED BY
Community Cultural Development and Artistic Program
Community Engagement
Sub/Urban Cultures
Screen Cultures
Artist Development
Family Creative Hub
Arab Film Festival Australia
7
8
10
12
15
16
Operations
Finance
19
IT & Facilities
20
Venue20
Funding21
Financial Statements
Treasurer’s Report 25
Balance Sheet
26
Income Statement
27
Notes28
Statement by Members of the Board
30
Independent Auditor’s Report
31
SAILORSTUDIO.COM.AU
1
ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Chairperson’s Report
Executive Director’s Report
This year ICE rose to the challenge of a changing
environment; one that demanded a more focused
and proactive approach to the development of our
funding base and our community programs.
I would like to acknowledge and thank John
Kirkman, our Executive Director for his commitment
and inspiring leadership, our staff for their passion
and creativity. ICE continues to forge its path ahead
only because of the tremendous work you all do.
In 2014 ICE funding has seen a significant
diversification, so that we continue to be less reliant
on government grants with a shift to philanthropy,
sponsorship, fundraising and other forms of
generating income. ICE staff have worked on the
development of a strategic sponsorship program that
has enabled ICE to begin to secure a more sustainable
funding base. In an environment where government
arts bodies are calling for organisations to seek funds
from a broader range, ICE has been slowly building
its work in this area. On behalf of the Board I want to
thank all the staff for their efforts, it is a significant
shift in approach and the work that we have been
doing on this in the last two years is really coming
to fruition. It has not been easy but I know the path
we are taking is one that will secure ICE’s future for
another generation.
Indeed ICE celebrated its 30 year milestone in 2014.
A fantastic achievement for an organisation that began
in a mobile caravan in Parramatta and now is one of
Australia’s leading community arts organisation.
Our work could not continue without the support
we receive from our partnerships with the Arts NSW,
Screen NSW, The Australia Council for the Arts
and NSW Department of Family and Community
Services as well as the Scanlon Foundation, Vincent
Fairfax Family Foundation and Crown Resorts/
Packer Family Foundation amongst many others. I
believe that the work ICE does is a testament to their
faith in us, to deliver projects that are both engaging
and provocative and that strengthen our community.
I would like to thank my Board colleagues for their
support and hard work over the year, in particular
Justin Travlos, our Treasurer, whose advice and
guidance is greatly appreciated.
Our community cultural development programs
have also become more robust, more connected to
our region, more vibrant. Once again ICE staff and
guest artists/facilitators have worked hard to produce
a program of events and artistic ventures which
contribute to the rich cultural life of Western Sydney.
Programs such as the Family Creative Hub, the Arab
Film Festival Australia, Branded! Kasey is Missing,
Links to Learning, Bridge Ahoy! Granville Selfies, I
Have a Dream are a reflection of the amazing talents
of our staff . They work with communities to develop
projects that are enriching and document our stories
in a way that is fascinating.
- Receiving program funding from ScreenNSW
-Receiving Australia Council project funding
In particular, 2014 saw the continued revitalisation
of ICE operations, including:
-
Completion of staffing and operational
structures
-
Employment of a new Finance and
Administration Manager
-Reorganisation of financial management and
reporting systems
-
Review of venue and technical hire
operations.
The future for ICE continues to be replete with
challenges and potential. I feel confident ICE is
ready to meet the challenge. I would like to thank
the superb ICE staff, the ICE Board of Management,
our project partners, artists and, above all our
communities for their continued commitment and
assistance in producing and presenting programs of
cultural excellence and resonance for the people of
Western Sydney.
Highlights for the year included:
- Introduction of the Family Creative Hub
-
Securing multi-year funding from the
Scanlon Foundation, Vincent Fairfax Family
Foundation and Crown Resorts/Packer Family
Foundation
-Successful productions for the Sydney Festival,
Sydney Architecture Festival and Parramasala
Festival
-
The continued success of the Arab Film
Festival Australia
John Kirkman
Executive Director
-
The success of the Icebreaker and Habibi
fundraising initiatives
Tilda Sikes
Chairperson
2
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
ICE 2014
Broadcast Audience
Website visits
3,348,601
96 43
Artists Employed
ICE
www.ice.org.au
62,481
157
Artistic Projects
New Artworks Created
Community members
using our facility
2013
7,481
2014
8,777
742
Participants engaged
Live Audience
Value of media editorial
$5,580,000
5,451
4
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Community Cultural Development
and Artistic Program
ICE 2014 community cultural development
and artistic programs achieved deep community
cultural and creative engagement by enlisting
artists and cultural producers specific to the
communities we work with (and whose practice
is recognized and appreciated through the wider
arts community).
ICE 2014 Community Cultural Development
and Artistic Program delivered a comprehensive
range of projects that creatively engaged
culturally diverse communities across Western
Sydney. Working via five key program areas:
Community Engagement Program, sub/Urban
Cultures Program, Screen Cultures Program,
Artist Development Program and the Family
Creative Hub, our projects were developed
in consultation with the target communities,
directly responding to their needs and interests.
Community Engagement
ICE cultural programs engaged some of Western
Sydney’s most at-risk, socially excluded and
economically disadvantaged people including
Aboriginal children and families, refugee and
newly arrived migrant mothers and children,
disengaged young people from culturally
diverse backgrounds (via both in school and
outreach programs), emerging artists, cultural
producers and emerging creative enterprises,
and people living with Disability.
Lost in the Woods. Photo: Nico Lathouris
Mouna Zaylah
Manager – Community Cultural Development
and Artistic Programs
6
The Community Engagement Program worked
closely with a range of committed community
partners and stakeholders including Fairfield,
Penrith and Parramatta City Councils, Woodville
Community Services, Street University Mt
Druitt, Nepean Community Neighborhood
Services, Bonnyrigg L’il Possums Playgroup and
the Parramatta Community Migrant Resource
Centre.
2014 ICE Community Engagement focused on
providing access to digital arts and technology,
creating educational and employment pathways
and providing social inclusion initiatives to a
broad cross section of disadvantaged Western
Sydney communities (including Aboriginal,
Pacific Islander, Arabic speaking, Burmese
(Karen) African and East Timorese). A particular
feature of the 2014 program was the work
undertaken with people who are long term
unemployed and/or are living with Disability.
Our work in 2014 provided the opportunity,
creative space and resources for communities
to speak their minds and inform our ongoing
engagement with the region. We were proud
to develop new partnerships and collaborations
enabling us to produce powerful and inspiring
work with the people that need it most; the
people who are often not given opportunity to
represent themselves in a mainstream context.
Importantly, the Community Engagement
Program continues to receive ongoing core
funding through the NSW Department of
Families and Community Services Community
Builders program.
Highlight projects for 2014 were Heat from
the Street – music video production with
young people in Mt Druitt, We are United –
participatory documentary making with First
Peoples communities in Fairfield, Lost in the
Woods – script development and film making
with residents of the Urana Street Housing
estate in Woodville, street2studio – lyric
writing and music studio recording with young
people from Parramatta and Kasey is Missing
- script development and performance skills
with members of the Aboriginal community in
Penrith.
The program also received funding through
Fairfield City ClubGRANTS, Parramatta City
Council, Penrith City Council, The Vincent
Fairfax Family Foundation and The Crown
Resorts/Packer Family Foundation.
Christian Tancred
Producer - Community Engagement
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
sub Urban Cultures
2014 sub/Urban Cultures connected with and explored the contemporary culture of
Western Sydney, and worked primarily in the areas of youth engagement, skills
development and audience engagement via digital visual art, graphic design,
contemporary music, popular culture and cultural tourism. In particular, the program had
a strong focus on place and community e.g. the program was deeply embedded in the
suburb of Granville following initial program development in 2013.
2014 sub/Urban Cultures program highlights included The Calling: A Sonic Tour of
Suburb and the Sacred for the 2014 Sydney Festival; I Have a Dream!, a schools-based
youth digital engagement program supported by the Vincent Fairfax Family Foundation;
Branded!, a graphic design skills development and mentorship program funded by the
Australian Business Community Network, that linked 25 young unemployed designers
with premiere design firms Boccalatte, W$YK, Garbett and Kindred to undertake
a conceptual rebranding of businesses in a working street of Granville; and Bridge
Ahoy! A Curated Tour of Sydney Bridges, that delivered a series of ferry-based events
showcasing Western Sydney artists, curators and bridge engineers as part of the 2014
Sydney Architecture Festival.
During 2014 the sub/Urban Cultures Program worked with thirteen artists/facilitators
and eighty-six young people from across Western Sydney. Seventy-three new artworks
were created with approximately five hundred and thirty attending five showcase events
and eight cultural tours. 2014 was a great year.
Imam and Reverend. Photos: Marian Abboud
Jonathan Wilson
Producer – sub/Urban Cultures
8
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Screen Cultures
2014 ICE Screen Cultures focused on professional development for emerging and
established Western Sydney filmmakers and video artists. Throughout the year
program participants created new content for traditional screens (TV and cinema) and
explored new ways of presenting screen work via online platforms. Importantly, the
program continued to mentor emerging filmmakers, writers, directors and producers,
created opportunities for connection with industry, and provided access to funding,
facilities, and creative spaces to explore ideas and stories.
2014 program highlights include Parradocs, an intensive ten-week documentary
training/professional development program (funded by ScreenNSW and Parramatta
City) Council; Pitch Perfect, a unique opportunity for Western Sydney screenwriters
to build their script development and pitching skills (funded by Screen NSW, the
Copyright Agency and Fairfield City Council); and Diaspora Stories, commissioned by
Parramasala Festival to present films from Mauritius, Trinidad and Tobago, Singapore
and Bangladesh/UAE exploring the experiences of South Asian communities in those
countries.
The 2014 Screen Cultures Program continued our creative (and strategic) ambition to
explore new ways of presenting screen work to new audiences, and to develop links
between Western Sydney’s emerging talent and established industry professionals by
building strong relationships with screen professionals locally and internationally.
Broken Wrist Movie. Photo: Donita Hulme
Mouna Zaylah
Manager – Community Cultural Development and Artistic Programs
10
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Artist Development
Other highlights include Granville
Selfies, where community based artists/
facilitators worked with Year 8 and Year
10 students from Granville Boys High
School to explore digital and screenbased art making and production); and
Thoroughfare, which saw emerging artists/
CACD practitioners working ‘in residence/
on the ground’ with retailers and curatorial
mentor Victoria Harbutt to explore the
history, retail potential and people of Good
Street Granville.
Via a series of business development
workshops held throughout the year,
over eighty artists and emerging cultural
producers participated in workshops
that enhanced their capacity to manage
and promote their own creative cultural
enterprises e.g. ICE commissioned a
variety of specialists facilitators and
speakers to share their ideas and tips on
Mouna Zaylah
Manager – Community Cultural
Development and Artistic Programs
12
Candy Royalle, Marian Abboud & George Tillianakis. Photo: Jonathan Wilson
Pozible crowd-funding campaigning, and
Creative Business expert Monica Davidson
to deliver individualised mentoring for
ICE Hub Program residents.
2014 Artist Development supported
CACD practitioners and emerging artists
throughout Western Sydney. The program
did this by coordinating shared ICE Hub
space for creative enterprises, brokering
cross-sector
partnerships,
facilitating
creative skills and business development
workshops, offering a range of creative
project-based secondments to emerging
cultural producers, and mentoring talent to
produce contemporary art in contemporary
spaces.
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Family Creative Hub
The ICE Family Creative Hub engages newly arrived refugee and migrant mothers and
their preschool children living in and around Parramatta in projects that empower them to be
active creative contributors to their communities and Western Sydney.
Funded by the Scanlon Foundation, the 2014 program actively supported families from a
range of cultural backgrounds (including South Asia, South East Asia, Central Asia and the
Middle East) in a yearlong program of creative play, English language skills development,
digital creativity and literacy. Importantly, the program also provided participating families
with links to support services as well as training and educational pathways.
The program (based at ICE) offered weekly creative sessions that incorporated photography,
digital image making, creative writing, sound recording and child-focused crafts activities.
Creative outcomes for the year included the production of a family photo book, a children’s
picture book, a video, and individual works using self-portraiture and captions.
A particular highlight for 2014 was the creation of Lullaby in a Far Away Land, a children’s
picture book that follows the journey of six children who reach an unknown land, have an
adventurous time and are carried back into their mothers’ safe arms upon hearing their
soothing lullabies. Created with the assistance of artists and facilitators Marian Abboud and
Yamane Fayed Lullaby in a Far Away Land will be premiered during the Sydney Writer’s
Festival in May 2015.
Digital Bedtime Stories workshop. Photo: Ali Mousawi
Demand for the project grew throughout 2014, and ICE was able to double the initial number
of participants and sessions. ICE was also thrilled that the Scanlon Foundation committed to
another year of funding, and that additional multi-year funding was received from the Vincent
Fairfax Family Foundation and Crown Resorts/Packer Family Foundation to further expand
the program
14
Eddie Abd
Producer – Family Creative Hub
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Arab Film Festival Australia
Since 2001 the Arab Film Festival Australia (AFFA) has taken us deep into the Arab
world and experience; and is now is a major Australian cultural event, and the only film
festival of its kind in the Southern Hemisphere.
Arab Australian communities are impacted by change: both in Australia and in the
Arab world. Thus AFFA is crucial in showcasing a diversity of perspectives that reflect
the realities of Arab people and their experiences.
Proudly, AFFA 2014 featured films from Lebanon, Egypt, Iraq, Palestine and Jordan.
Festival highlights included visiting actor/activist Saleh Bakri, whose film When I Saw
You opened the festival; the Iraqi community coming out in force to see the riveting
Ten Years of My Life; Zeina Daccache’s documentary Scheherazade’s Diary; and The
United, a soccer film presented in partnership with the Asian Cup as a meeting point
for art, football, community and the Western Sydney Wanderers.
AFFA 2014 was made possible with the generous support of partners Arab Bank
Australia, Etihad Airways, Abu Dhabi Tourism and Culture Authority, Kazbah
Restaurants, Western Sydney Wanderers and the 2015 Asian Cup. It also receives
ongoing funding from Screen NSW, Parramatta City Council and Council for Australian
Arab Relations – Department of Foreign Affairs and Trade.
Mouna Zaylah and Fadia Abboud
Co-Directors Arab Film Festival Australia
16
Saleh Bakri: Arab Film Festival. Photo: Ali Mousawi
Importantly, AFFA continues to be developed by a dedicated and active community
based advisory committee, and ICE thanks them for the hard work and commitment.
AFFA continues to grow in strength and attract new audiences e.g. 2014 attendances
(and box office) were up on the previous year for all three seasons (Parramatta,
Melbourne and Canberra).
17
ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Operations
ICE Operations provides financial, administrative, technical and logistic support to
ensure smooth operations and project implementation.
Finance
The financial focus for ICE in 2014 was to increase income and build reserves.
Similarly, much work was done to increase (and diversify) private sector income
(especially in the areas of philanthropy, fundraising, commercial commissions and
events). Likewise, ICE became more entrepreneurial in terms of achieving increased
earned income from events, box office, venue and technical hires.
Granville Selfies Workshop. Photo: Donita Hulme
2014 was a year of measured success. Income was $ 1.563 million with expenditure at
$1.540 million, resulting in a Net Profit of $23,714. Importantly, revenue from Trusts /
Foundations increased by 7%, venue and technical hire revenue doubled. Dependence
on revenue from government dropped 7%. Reserves increased by 67% in 2014.
18
ICE is robust in terms of its financial health and increased retained earnings.
Furthermore, ICE reduced its overheads by 7%. Savings resulted from renegotiation
of service costs with different vendors and the more efficient use of energy and
resources. All of which continue to contribute positively towards ICE’s long-term goal
of self-sustainability.
Kayur Shrestha
Manager – Finance and Administration
19
ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
IT and Facilities
Funding
ICE provides low cost, subsidised and
in-kind venue and technical support
to local artists, community groups and
organisations. ICE also offers entry-level
hardware and software for filmmakers,
photographers and emerging artists.
hardware upgrades. A highlight of
the year was the installation of new
technologies in the Audio Suite, allowing
for new recording possibilities and sound
creation techniques for participants and
organisations.
2014 was a year of significant income
diversification for ICE, with revenue
from foundations and corporate grants
increasing by 7% (and the dependence
on revenue from government sources
decreasing by 7%).
2014 saw dramatic increases in venue
and equipment hires and usage; and
the commencement of software and
Julian Lankshear
IT and Facilities Officer
In June ICE secured $108,400 from the
Vincent Fairfax Family Foundation to
support ICE Digi-Arts, an expansion
of ICE outreach and facility-based
community engagement programs for
2015 and 2016.
Venue
2014 saw ICE used as venue for
the Family Creative Hub Program
which brought pre-school children
to ICE on a regular basis; and turned
our meeting rooms into creative play
spaces. Similarly, another highlight for
2014 was the continued use of ICE by
Autism Spectrum Australia (ASPECT)
to run weekly workshops for musicians
on the Autism spectrum. It was a joy to
see (and hear) ASPECT participants
experimenting
with
music-making
throughout the building - and become a
core part of the ICE space.
ICE offers accessible, flexible and
affordable hire of venue and desk space
for local community groups, organisations
and individuals to work, create and
present from. The aim for 2014 was to
increase facility usage and generate more
revenue via venue hires. This ambition
was met with the range of clients hiring
space from ICE grew and diversified.
In particular, 2014 saw an increase in
regular Hot Deskers; repeat hire clients
and activities taking place after hours and
over weekends. Overall, ICE venue hire
doubled from 2013 to 2014.
Other funding highlights included
securing Australia Council for the Arts
funding for two projects: $35,000 for
Mother’s Spice a performance, ritual
and culinary-based project engaging
the refugee and newly arrived migrant
mothers participating in our Family
Creative Hub; and $26,250 for Car Park,
the public exhibition of the contemporary
multimedia artworks emerging from
ICE’s Disco Dome project in public
spaces around Parramatta. In addition,
ICE secured another year of funding
($50,000) from the Scanlon Foundation
to extend our weekly Family Creative
Hub program in 2015.
In November ICE secured an additional
$192,000 from the Crown Resorts/Packer
Family Foundation to further expand
ICE programs.
ICE received ongoing core funding
from Arts NSW, Screen NSW and the
Department of Family and Community
Services; and continued to receive project
funding from Parramatta City Council,
Fairfield City Council and Penrith City
Council.
In December ICE secured $148,580 from
the NSW Department of Education and
Communities to deliver the ICE Links to
Learning Initiative, a year long, in-school
program working with disengaged high
school students in Auburn and Granville
throughout 2015.
Ziyad Springborg
Funding and Development Officer
Morgan Graham
Venue and Reception Officer
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
1Photo Shoot: Lullaby in a Faraway Land
Family Creative Hub Project
Photo: Eddie Abd
ARE YOU A GRAPHIC
DESIGNER LOOKING FOR
A DESIGN MENTOR?
2Me
I Have a Dream Project
Artist: Myriam Kadhem
WORK WITH SYDNEY’S BEST DESIGN STUDIOS
BOCCALATTE
GARBETT
KINDRED
WE BUY YOUR KIDS
3Branded! Project Poster
Designer: Luke Beeton
4
Ali & Chasm:
Street2Studio Project
Photo: Christian Tancred
5Action!!
Granville Selfies Project
Photo: Donita Hulme
INROADS: BRANDED! IS A MENTORSHIP
PROGRAM FOR YOUNG UNEMPLOYED
WESTERN SYDNEY DESIGNERS
For more info contact
[email protected]
or call 9897 5744 by July 28
ICE.ORG.AU
BRANDED! IS PART OF THE ABCN INROADS PROGRAM SUPPORTED BY J.P. MORGAN.
ICE RECEIVES PROGRAM FUNDING FROM THE AUSTRALIAN COUNCIL FOR THE ARTS AND ARTS NSW
.
2
3
1
4
5
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Financial Statements
Treasurer’s Report
At the close of 2014, the organisation remains in a
sound financial position, posting an operating profit
of $23,714 and an accumulated surplus of $59,750.
Without this funding and support it would not
be possible to undertake the range of cultural
and creative programs, nor develop and grow the
incredibly talented ICE staff who produce these
programs in Western Sydney.
Pleasingly, 2014 has seen a much greater
diversification of the organization’s funding sources
and an increase in our cash reserves, this was a key
focus through the year and provides greater financial
resilience as we move into 2015.
Information and Cultural Exchange Inc.
31 December 2014
Treasurer’s Report 25
Balance Sheet
26
Income Statement
27
Notes28
Statement by Members of the Board
30
Independent Auditor’s Report
31
I would like to especially thank the Finance and
Administration Manager, Kayur Shrestha, for his
diligence and professionalism, not only in the
ongoing management of the organizational accounts,
but also for his patience and assistance in helping the
project teams better prepare, manage and account
for their programs. This coaching generates greater
productivity out of the same funding, meaning that
ICE’s overall community impact is increased.
Under the continued guidance of John Kirkman, 2014
has seen an incredible increase in productivity from
the team at ICE. Continuing to focus on delivering
beautiful, meaningful and impactful projects for and
with the diverse cultures and communities that make
up greater Western Sydney.
Lastly I would like to acknowledge the rest of the
operations team Julian Lankshear, Morgan Graham
and Kannaki Nadesan for their continued effort in
ensuring operational efficiency and at the same time
contributing in generation of additional revenue from
venue and equipment hire; and to Ziyad Springborg
for his sterling grant writing.
On behalf of the Board, I would like to sincerely
thank the following key funders and project partners
for their support: ArtsNSW, Australia Council
for the Arts, Department of Immigration and
Citizenship, Screen NSW, Department of Family
and Community Services, Department of Foreign
Affairs and Trade, NSW Office of Communities, The
Scanlon Foundation, Migration Council Australia and
the Refuge of Hope, The Vincent Fairfax Family
Foundation, The Matana Foundation, The Optus
Foundation, the Australian Business Community
Network, Sydney Festival, Parramasala Festival,
Sydney Architecture Festival, NSW Architects
Registration Board and Roads and Maritime Services
NSW.
We proceed into 2015 in a strong financial position
and we look forward to expanding both our reach and
our impact over the next year.
I would also like to extend sincere thanks to our key
project and operational partners, Abu Dhabi Tourism
and Culture Authority, Etihad Airways, Arab Bank
Australia, Kazbah, the Catholic Diocese, Parramatta
City Council, Fairfield City Council and Penrith City
Council.
Justin Travlos
Treasurer
Our thanks also go to all the Icebreakers and Habibis
who have donated to ICE and the Arab Film Festival
Australia (AFFA) – your continued support of this
flagship event is sincerely appreciated.
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Information and Cultural Exchange Inc.
Statement of Financial position
Statement of comprehensive income
As at 31 December 2014
For the year ended 31 December 2014
NOTE
2013
$___
$___
313,035
313,035
Arts NSW - MAMC
-
74,055
Australia Council for the Arts (CCD Program & Project grants)
-
208,844
373,000
104,000
-
14,800
Screen NSW
73,500
74,750
Department of Family & Community Services NSW
106,998
75,657
Department of Foreign Affairs and Trade
20,000
20,000
Trust / Foundation
135,172
35,300
Office Furniture & Equipment - at cost
Local Government
52,297
127,289
Less: Accumulated Depreciation
Other Small Grants
79,260
20,472
Unexpended grants at the beginning of the year
914,973
1,168,557
(727,257)
(914,973)
Interest Received
8,677
3,734
Donations
8,469
30,680
205,628
215,476
1,563,752
1,571,675
Arts NSW - Triennial Funding
Australia Council for the Arts
Dept of Immigration & Citizenship
Unexpended grants at the end of the year
Other Income
TOTAL INCOME
LESS: EXPENDITURE
Employee expense
2013
$___
$___
CURRENT ASSETS
2014
INCOME
2014
Cash and Cash Equivalents
3
654,211
389,031
Receivables
4
184,337
55,190
30,452
8,691
Prepaid Expenses
Inventories
5
-
7,340
869,000
460,252
Building Improvements - at cost
1,284,605
1,284,605
Less: Accumulated Depreciation
(539,442)
(410,982)
745,164
873,624
741,310
735,473
(714,141)
(592,313)
27,169
143,161
772,333
1,016,784
1,641,333
1,477,036
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Payables
133,667
85,828
Deferred Income
6
664,625
398,494
Provision for Staff Entitlements
7
22,390
35,412
820,682
519,733
TOTAL CURRENT LIABILITIES
793,511
800,363
Equipment purchase
3,194
2,860
Depreciation expense
250,288
284,105
NON-CURRENT LIABILITIES
Insurance expense
19,306
17,286
Provision for Staff Entitlements
8
19,644
6,294
Media and marketing expenses
25,564
24,618
Deferred Income
6
741,257
914,973
Programmes and production expenses
221,310
272,147
TOTAL NON-CURRENT LIABILITIES
760,901
921,267
Rent and Utilities
22,532
27,663
Contractor expenses
122,042
79,789
Administration expenses
82,290
88,916
1,581,583
1,441,000
Write-back of provisions
-
(40,000)
1,540,038
1,557,747
59,750
36,036
23,714
13,929
Accumulated surplus/(deficit)
59,750
36,036
TOTAL EQUITY
59,750
36,036
TOTAL EXPENDITURE
SURPLUS/(DEFICIT) FROM OPERATIONS
TOTAL LIABILITIES
NET ASSETS
EQUITY
The accompanying Notes form part of these financial statements.
The accompanying Notes form part of these financial statements.
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ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Information and Cultural Exchange Inc.
Notes
Notes to and forming part of the financial statements
For the year ended 31 December 2014
2
2014
2013
$___
$___
6,000
6,000
6,000
6,000
Cash at Bank
653,725
388,431
Cash on Hand
486
600
654,211
389,031
184,337
55,190
AUDITOR'S REMUNERATION
Remuneration of the Auditor for:
- Auditing the financial statements
STATEMENT OF ACCOUNTING POLICIES
The financial statements are general purpose financial statements that have been prepared in accordance with Australian
Accounting Standards (Including Australian Accounting Interpretations) and the Associations Incorporation Act 2009
(NSW).
Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial
statements containing relevant and reliable information about transactions, events and conditions to which they apply.
Material accounting policies adopted in the preparation of these financial statements are presented below and have been
consistently applied unless otherwise stated.
The financial report has been prepared on an accruals basis and is based on historic costs, modified, where applicable, by
the measurement at fair value of selected non-current assets, financial assets and financial liabilities.
(A) INCORPORATED ASSOCIATION
The services were incorporated on 1st May, 1986 as an incorporated Association, under the Associations Incorporated Act,
1984. The members liability is limited to the extent of any unpaid membership fees.
(B) REVENUE RECOGNITION
Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets
as it is received.
Grant and donation income is recognised when the entity obtains control over the funds which is generally at the time of
receipt.
Revenue from funding authorities received in advance is deferred to the period to which it relates and included as an
accrual on the balance sheet.
(C) INVENTORIES
Inventories are measured at the lower of cost and net realisable value.
(D) ECONOMIC DEPENDENCE
Information and Cultural Exchange Inc. is dependent on the Arts NSW and Australia Council of Arts for the majority of its
revenue used to operate the business. At the date of this report the Board of Management has no reason to believe the Arts
NSW and Australia Council of Arts will not continue to support Information and Cultural Exchange Inc.
(E) EMPLOYEE BENEFITS
Provision is made for Long Service Leave and Annual Leave estimated to be payable to employees on the basis of
statutory and contractual requirements. Provision is made for the payment of twelve (12) weeks maternity leave in
accordance with pending staff agreements. The amounts provided have been apportioned between current and noncurrent, the current provision been the portion that is entitled to be paid within the next (12) months. Payroll on costs
associated with leave entitlements are recognised as liabilities.
Contributions are made by the Association to an employees' superannuation fund and are charged as expenses when
incurred.
(F) INCOME TAX
The entity is exempt from income tax under Section 50-5 of the Income Tax Assessment Act 1997.
(G) PROVISIONS Provisions are recognised when there is a present legal or constructive obligation as a result of past event; it is probable that
an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated.
28
3
4
CASH AND CASH EQUIVALENTS
RECEIVABLES
Trade Debtors
Less: Provision for impairment of debtors
5
-
-
184,337
55,190
-
7,340
Grant in Advance - Other
664,625
398,494
Unexpended Building Grant
741,257
914,973
1,405,882
1,313,467
22,390
35,412
22,390
35,412
Long Service Leave
8,644
1,080
Maternity Leave
11,000
5,214
19,644
6,294
INVENTORIES
Current
Books published available for sale
Inventories are measured at the lower of cost
and current replacement cost.
6
7
DEFERRED INCOME
PROVISION FOR STAFF ENTITLEMENTS
Current Liabilities
Annual Leave
8
PROVISION FOR STAFF ENTITLEMENTS
Non-Current Liabilities
29
ICE ANNUAL REPORT 2014
ICE ANNUAL REPORT 2014
Statement by Members of the Board
Independent Audit Report
2013,
30
31