Financial Data Dictionary

Definition: Funding which support the core operations and annual programs.

Types of operational grants

• Arts Queensland operational grant: Grant received from Arts Queensland to support annual program and operations. Example includes funding from Queensland Organisations Fund 2026-29.
• Creative Australia operational grant: Multiyear funding received from Creative Australia towards annual program and operations including Four Year Investment for Organisations, Delivery Partners, Visual Art, Craft and Design Framework grants.
• Local government operational grant: Funding received from local councils towards annual program and operations.
• Other Commonwealth operational: Funding received from Commonwealth Government departments and agencies towards annual program and operations e.g. Office for the Arts.
• Other Queensland Government operational: Funding from other Queensland Government departments and agencies outside of Arts Queensland towards annual program and operations e.g. Department of the Premier and Cabinet, Tourism and Events Queensland.
• Arts Queensland in-kind: In-kind goods and services (including rental subsidies) provided by Arts Queensland e.g. Judith Wright Centre of Contemporary Arts, Bulmb-ja.

Definition: One off funding towards a specific project, program or initiative.

Types of Project grants

• Arts Queensland project: One-off Arts Queensland funding towards specific projects, e.g. Queensland Arts Project Fund, Touring Queensland Fund, Aboriginal and Torres Strait Islander Arts Development Fund etc.
• Creative Australia project: One-off Creative Australia funding towards specific one-off projects e.g. Playing Australia.
• Other Queensland Government project: Funding for one-off projects from State Government sources other than Arts Queensland such as Queensland Health, Department of the Premier and Cabinet, Tourism and Events Queensland, Gambling Community Benefit Fund, etc.
• Other Commonwealth project: Funding for one-off projects from Commonwealth Government (other than Creative Australia) such as Festivals Australia, Department of Infrastructure, Transport, Regiona Development, Communications, Sport and the Arts, Department of Foreign Affairs and Trade, Austrade.
• Other project: Funding for one-off projects from sources other than State, Commonwealth and Local Government.
• Local Government project: Funding for one-off projects from local councils.

Definition: money earned from supplying goods or services, e.g. ticket sales, workshops fees, income from selling artistic product, merchandise, or food/drink.

Types of earned income

• Audience income – single ticket sales: Includes single tickets, group bookings and entry fees for self-presented shows, events or exhibitions. Does not include subscription ticket sales. Use gross ticket sales if possible. Ticketing costs (e.g. merchant fees, insider charges etc.) should be recorded as a marketing expense.
• Audience income – subscription ticket sales: Subscription ticket sales for self-presented shows, events or exhibitions. Use gross ticket sales if possible. Ticketing costs (e.g. merchant fees, insider charges etc.) should be recorded as a marketing expense.
• Performance /Co-producer fees: Fees received to perform or exhibit, including recording and broadcast fees, and orchestra pit-services or income/box office splits received as part of a co-production or venue contract.
• Other Event Income: Performance and event-related income including program and merchandising sales, royalties, licensing income. Do not include the sale of artworks, publications, food and beverage sales (see Other Activities Income).
• Artwork/Publications sales: Includes income from the sale of your artworks, artworks sold on behalf of other artists, and publications-for-sale income. Do not include commission fees you have retained on the sales. This is recorded in Activities and Services Income.
• Activities and services: Income from activities that are not event related. This includes participant fees, workshop fees, dance classes, administration fees, auspicing fees, management fees, consultancy fees, commissions, membership fees.
• Resources: Income from the use of your physical assets. This includes venue hire, building and office rental income, props and instrument hire, costume hire, equipment hire, public usage income from photocopying etc.
• Retail: Income from goods sold as part of your business including food and beverage sales, bookshop and gift shop sales from physical or online stores.
  • Do not include merchandising that relates to a performance or event. This is recorded at Other Event Income.
  • Do not include artworks and publications sold. This is included at Artwork/Publication Sales.

• Sponsorship - cash: Cash received through corporate and private sponsorship.
  • Do not include State Government sponsorship. 
• Donations: Donations of any size provided by individuals where the donor does not receive a material benefit in return. Include gifts and bequests here.
  • Do not include income from raffle or art union tickets or food-related fundraising drives. This is included in Fundraising.
• Foundations: Philanthropic giving, grants and donations provided by community-based organisations, trusts and foundations.
• Fundraising: Income from fundraising appeals where there is a material benefit to the donor including raffles or art union tickets and income via fundraising events such dinners, charity auctions, and other fundraising drives.
  
• In-kind: In-kind income refers to the dollar value of any goods and services you receive but do not pay for. For example, furniture, equipment, materials, venue and office space, professional services (e.g. legal, financial) and technical services etc. 
  • You must itemise in-kind goods and services in the notes to your Financial Template.
  • Do not include any Arts Queensland in-kind income. This is included in Arts Queensland In-Kind.
  • Do not include in-kind income that will not be reported in your audited financial statements. (You can note this income in the comments to the Financial Template instead).

• Interest / investment: Bank interest, dividends and all income derived from cash investments and shares etc. held by the company. Also, include comprehensive income including Net changes in fair value of available-for-sale financial assets and revaluation of property plant and equipment.
• Sundry and other earned income: Sundry and other earned income not included elsewhere such as one-off sales of assets, income received from reimbursements and recoveries. 

• Creative personnel: Salaries fees and wages for creative personnel such as artistic and associate directors, creative producer, curators, lighting, set and costume designers, dramaturgs and tutors.
• Performers/Artists/Arts Workers Performers/Artists: salaries, wages and fees specifically associated with appearing in a work, producing an artwork or creating a work of literature, including visual artists, authors, illustrators, writers, editors, musical directors, composers, conductors, librettists, musicians, directors, performers, actors, choreographers and dancers.
  • Arts Workers include producers, youth and community workers. 
  • Do not include permanent ensemble and orchestra costs but do include augmentation and guest artists for ensembles and orchestras. 
• Production and technical: Salaries, wages and fees specifically associated with technical and production activity. For example, stage managers, recording engineers, mechanists, production managers, technicians, wardrobe staff, workshop staff, installation and bump in/out labour.
• Marketing and business development: Salaries, wages and fees specifically associated with marketing, promotion and business development costs including communications, marketing, publicity and audience development staff; corporate partnerships, sponsorship, philanthropy and development staff.
  • Only include box office and ticketing staff if your organisation does not operate a venue. If your company does operate a venue, include box office and ticketing staff in Own Venue Staff.
    
• Management and administrative: Salaries, wages and fees specifically associated with management and administrative activities including CEO, executive director, general manager, programming staff, finance staff, administrator, bookkeeper and other staff not included elsewhere.
• Own venue staff: If your organisation operates a venue, include front-of-house staff, box office staff, duty managers, ushers, bar staff, retail staff, directly employed security staff or cleaners.
• Ensemble / Orchestra wages and fees: Permanent ensemble and orchestra costs including artists’ costs allowances (e.g. ballet shoe allowance, instrument upkeep).
  • Do not include augmentation and guest artists for ensembles and orchestras. This is included at Performers/Artists/Arts Workers.
• Allowances and on-costs: On-costs: include, for example, workers' compensation, superannuation, annual, long service and sick leave costs, salary packaging expenses, payroll tax, fringe benefits tax, termination payments and other wage-related fees or employment-related overheads.
  • On-costs: also include professional development and training for staff, and costs associated with employment support and staff wellbeing e.g. job support, vocational development, physiotherapy, counselling.
  • Allowances: include travel allowances that are not associated with a production, exhibition or touring. (For event-related travel costs – see Production/Exhibition/Touring).

• Production & exhibition staging: Direct costs associated with the production of a work, event or exhibition. For example, lighting, sound and visual equipment and hire, display and mounting costs, sets, staging equipment and hire, royalties paid, creative development costs, commissioning costs, costumes and wardrobe costs, other creation costs (e.g. materials).
• Other production & exhibition: All other expenses not included elsewhere that are directly associated with productions, events and exhibitions. May include collection maintenance and conservation, costume and set maintenance, production and exhibition-specific insurances, licences, fees and permits, production incidentals, contingency, co-presenters’ fee.
• Travel / touring: Direct costs associated with presenting or exhibiting outside of your home location. Can include travel, freight and transportation costs, packing and crating costs, installation costs, demounting costs, bump in/out consumables, travel allowances and per diems.
• Venue and exhibition space: Venue related costs directly associated with a production, event or exhibition. For example, hire of a theatre, performance space, rehearsal space, build/construction space or exhibition space, front-of-house costs, other event-related venue costs e.g. cleaning fees. 

• Cost of sales: Cost of obtaining goods for resale (or inventory) such as merchandise and books, food and beverage stock. Include share of sales paid directly to artists for artwork and publication sales here.
  • Do not include recording, printing, publishing, manufacturing and distribution costs. This is recorded in Publications and Recordings for Sale.
• Artist development and mentorship: Direct costs associated with mentoring and professional skills development of artists. Can include costs of residencies.
  • Do not include professional development costs for your staff. This is recorded in Allowances and On-Costs.
• Community and other arts projects and programs: Direct costs such as travel and venue costs, project materials. May include consultant fees for project/protocols/engagement strategy.
  • Do not include associated artists’ fees. This is recorded in Performers/Artists/Arts Workers salaries, fees and wages.
• Education projects and programs: Direct costs associated with education programs such as schools programs or workshops. May include costs such as materials, travel and venue costs or consultants’ fees to develop project or educational resources.
  • Do not include associated artists’ fees. This is recorded in Performers/Artists/Arts Workers salaries, fees and wages.
• Evaluation and research: Includes both pre-and post-program or project costs associated with evaluation, project development and research that occurs within your organisation.

• Publications and recordings for sale: Costs associated with producing for-sale items (physical or digital) that are sold or distributed to the general public. Can include recording, printing, publishing, manufacturing and distribution costs.
  • Does not include printed programs. This is recorded in Marketing and Promotional Material.
• Workshops, classes and seminars: Direct costs associated with classes, workshops etc. for external participants. Examples include dance and music classes, theatre or visual arts workshops, writing workshops, seminars and conferences.

• Marketing and promotions: Marketing and Promotions: this includes advertising, promotional materials, general marketing and PR costs, hospitality, brochures, flyers, posters, displays and signage, program design and artwork, program photography and visuals, programs printing, distribution/mail out costs.
  • Selling costs: such as point of sale costs, ticket agency charges and fees, EFT and merchant fees, ticket printing and complimentary ticket costs, agency and booking fees.
  • Website costs: design, content, maintenance, and hosting – if not capitalised. 
  • Documentation and reporting costs: photographic and audio-visual documentation, newsletters, annual reports and other publications not for sale.
    
• Fundraising expenses: Costs associated with fundraising events including venue hire, catering, cost of goods for fundraising (raffle tickets, goods for raffle).
• Business development: Costs associated with developing and servicing philanthropic, sponsorship and business opportunities. May include hospitality, private sector income development costs, audience development and research. 

• Rent and running costs: Includes rent and outgoings specifically related to maintaining an office including parking, cleaning and rubbish removal, security, relocation costs, rates and taxes, maintenance, gas, electricity, water, staff amenities. 
  • If operating a performance or exhibition venue include venue security, WH&S costs, furniture and fixtures not being capitalised, equipment hire, venue cleaning costs, venue rubbish removal, venue repairs and maintenance.
  • Do not include security and cleaning/rubbish removal costs that have been captured in Venue and Exhibition costs.
• Administration: Outgoings related to general operations including office supplies, printing and copying, journals and subscriptions, memberships and affiliations, records and filing, computer consumables, software purchases and maintenance, equipment repairs and maintenance, minor equipment purchases (under $500), equipment rental, postage, couriers, freight, internet, telephone, local and staff travel, vehicle hire (which is not a direct production or project cost), insurance.
  • Do not include workers compensation. This is recorded in Allowances and On-Costs.
• Other depreciation and amortisation: Can include depreciation of other property, plant and equipment and motor vehicles, as well as amortisation expenses.
• Right of use asset depreciation expense: Depreciation of leased Right of Use Assets.
• Lease interest expense: Interest expenses on lease liabilities.
• Legal, finance and governance
  • Legal: any costs related to legal advice and services. 
  • Finance: financial services, bank charges and interest, leasing interest, stamp duty, late fees and penalties, bad and doubtful debts, rounding off/adjustments, accounting and audit fees.
  • Governance: costs of board operations and support, company planning, membership support costs, AGM and general meetings, company fees and returns, business name registrations. 
• Capital project costs: One-off expenses incurred in the purchase of land, building, construction and equipment.
• Sundries: Minor and incidental one-off expenses which cannot be classified elsewhere.

• Infrastructure and administration in-kind: Rent, goods and services of the types listed in the Infrastructure and Administration section provided in-kind or pro-bono.
• Marketing and business development in-kind: Good and services of the types listed in the Marketing and Business Development section provided in-kind.
• Other activities in-kind: Good and services of the types listed in the Other activities section provided in-kind.
• Production / Exhibition / Touring In-Kind: Good and services of the types listed in the Production/ Exhibition/Touring section provided in-kind.

• Cash and cash equivalents: Includes cheque and bank account(s) including bank overdraft, electronic payments clearing, un-deposited funds, petty cash, cash floats, term deposits and short-term investments that are expected to be converted to cash in next 12 months.
• Receivables and prepayments: Also known as trade debtors. This account shows the gross accounts receivable still owing by debtors to the organisation at the end of the financial period and which are expected to be collected in the next 12 months. Also includes doubtful debts, deposits with suppliers, security bonds paid, agency sales held in trust, accrued income, other debtors.
• Other current assets: Other financial assets that are available for sale or trading that can be converted into cash within the next 12 months such as securities, investment trusts, managed funds and shares.
  • Includes Inventories: Items held for resale expected to be consumed in the next financial year e.g. fundraising stock, trading stock, publications for sale and client support inventory. May include work in progress being produced, such as materials and supplies awaiting use in the production process. 
  • Other current assets not specifically included in previous rows. May include some prepayments, deposits and bonds.

• Property, plant & equipment (Net): Includes land and buildings, leasehold improvements, movable plant and equipment, IT and office equipment, libraries and educational resources, musical instruments, art collections, costumes, scenery sets and production properties, furniture and fixtures and motor vehicles LESS the accumulated depreciation for each asset class.
• Right of use asset: Include the value of leased Right of Use Assets. This is a valuation of the right to use a leased asset over the term of a lease agreement.
• Long-term investments: Includes any long-term investments, e.g. securities or shares in listed and unlisted companies not expected to be realised in the next 12 months. Each year, the list is reviewed, and investments expected to be sold within the next 12 months should be moved to Current Assets.
• Intangibles (Net): Includes intangibles purchased (not internally generated) e.g. bespoke computer software, goodwill, distribution rights, intellectual property, licences, patents and trademarks LESS accumulated amortisation.
• Other non-current assets: Other non-current assets not specifically included in previous items which may include biological assets and long-term assets to be sold but not in the next 12 months, including long-term receivables and prepayments. 

• Current trade creditors and other payables: Includes accounts payable. Also known as trade creditors. Accrued expenses such as auditors’ fees, unpaid salaries, unpaid electricity, unpaid telephone at year end, tax and other withholdings such as GST, FBT, PAYG withholdings, superannuation.
• Grants in advance (non-Arts Queensland): Grants received in advance, and unexpended grants from sources other than Arts Queensland.
• Arts Queensland grants in advance: Arts Queensland grants received in advance, and unexpended grants.
• Current employee benefits: Employee benefits that may be payable within the next 12 months including provision for annual leave, provision for long service leave, provision for personal/carer's leave, and salary sacrifice.
• Current interest-bearing loans and borrowings: Short-term interest-bearing loans and borrowings from banks and other sources due and payable within the next 12 months such as bank loans, unsecured bank overdraft, credit cards, hire purchase or lease agreements due within the next 12 months.
  
• Current income in advance: Any revenue or income that relates to future reporting periods such as earned income received in advance, membership fees in advance, subscriptions in advance, sponsorship received in advance, box office income in advance.
  
• Current lease liabilities: Lease liabilities for payments required by a lease discounted to the present value and due within the next 12 months.  
  
• Other current liabilities: Other current liabilities not specifically included in other items and payable within 12 months. This includes funds held in trust for a third party to be passed onto a different recipient than your organisation - such as DGR trust funds, auspiced grants and income, unexpended auspiced grants, deposits collected. 

• Non-current interest-bearing loans and borrowings: The long-term components (i.e. more than 12 months in the future) of long-term borrowing, hire purchase agreements, vehicle lease agreements, lease liabilities, bank loans, directors’ loans.
• Non-current employee benefits: Refers to all employee-related long-term provisions e.g. long service leave that has been accumulated by employees and is not expected to be paid within the next 12 months.
• Non-current lease liabilities: Lease liabilities for payments required by a lease discounted to the present value and not expected to be paid within the next 12 months. 
• Other non-current liabilities: Any other liabilities that are not expected to be discharged in the next 12 months and that are not specifically listed in other items. 

• Retained earnings: When entering retained surplus/(deficit) it should match the following: prior year retained surplus/deficit plus or minus the current year operating surplus/deficit plus or minus any abnormal items.
• Asset revaluation or asset impairment reserve: The asset revaluation reserve is used to revalue certain non-current assets, such as land and buildings. The amounts in the reserve are generally the difference between the asset's cost and its market (or current) value.
• Restricted / designated reserves: Restricted or designated reserves is essentially any amount of money specifically set aside by the organisation for future purposes such as the capital profits reserve, building maintenance reserve, endowment/ bequests reserve, instruments reserve, sinking fund, IT reserve, reserves incentive scheme etc.
  • Your organisation may also have a Capital Grant Reserve for grants received by the organisation for capital purchase and subsequently adjusted for yearly depreciation.
• General reserves: Other reserves which have been accumulated but are not restricted or designated for a specific purpose.
• Contributed equity: Includes any contributions made by members to establish the organisation. Ongoing member fees should not be included —they are treated as revenue.
  

Forward Cash Flow

Forward Year Cash Flow Your 12-month forecast cash flow on a month-by-month basis for next year showing cash that you expect to be received and spent each month up to the end of the reporting year.

The cash flow must include opening and closing cash balances for each month and should not include non-cash items such as depreciation, in-kind income or expenditure.

A sample cash flow template is available for download.

Current balance sheet

Your balance sheet at 30 June if reporting on a calendar year, or 31 December if reporting on a financial year.

Profit and loss - Year-to-date and forecast

Your profit and loss statement showing:

• your actual income and expenditure for the year to date (30 June if reporting on a calendar year, 31 December if reporting on a financial year); plus
• your forecast to the end of the year.

This can be taken directly from your in-house finance system. Your Financial statements must provide a sufficient level of itemised income and expenditure for Arts Queensland to understand how the company is progressing against the budget you submitted with your Forward Program.

Cash flow - Year-to-date and forecast

A month-by-month cash flow showing:

• actual cash received and spent each month of the current financial year up to the reporting date.
• forecast of cash that will be received and spent each month up to the end of the financial year.

Audited financial statements

Audited financial statements, signed by the board and auditor.

Note: Only companies that have been approved by Arts Queensland to submit Reviewed financial statements can submit a Review in place of an Audit. 

Income from non-Arts Queensland sources comprises:

• Operational grants (excluding Arts Queensland)
• Project grants (excluding Arts Queensland)
• Event income [Earned income]
• Other activities income [Earned income]
• Private sector income
• Other income [Earned income].

To calculate the percentage:

• Total Non-Arts Queensland income divided by Total Income multiplied by 100.

Example:

A company earned $750,000 over the year, with $600,000 from non-Arts Queensland sources.

• This is calculated as $600,000 ÷ $750,000 = 0.80
• 0.80 x 100 = 80% non-Arts Queensland income.

Working Capital measures the actual amount of liquid resources a company has available for its day-to-day operations after accounting for its short-term debts.

Positive working capital shows a company has enough liquid/current assets (e.g. cash, accounts receivable and inventory) to pay its short-term debts and meet its day-to-day operating expenses.

Negative working capital means that a company is currently unable to meet its short-term debts and operational expenses and may be experiencing short-term financial issues, including with cash flow.

The formula to calculate working capital is: 

• Current Assets less Current Liabilities
  

Example:

A company has $750,000 in current assets - all of which is cash in the bank, and $800,000 in debts due in the next 12 months. This means the company has negative working capital of -$50,000. It cannot cover the full $800,000 in debt with the $750,000 in cash it has in the bank. This may be a short-term issue only.

The Current Ratio is another way of measuring a company’s ability to pay off its immediate and short-term liabilities (debts due within a year) with its current assets (e.g. cash, accounts receivable and inventory) to meet the needs of its daily operations.

The formula to calculate your current ratio is:

• Current Assets divided by Current Liabilities.

A Current Ratio of over 1.0 shows a company has more current assets than current liabilities and has sufficient resources to meet it debts that are payable with the next 12 months.

A Current Ratio of less than 1.0 indicates the company’s current liabilities are greater than its current assets and it may be experiencing short-term cash flow issues.

A company with a Current Ratio of 2.0 shows it has $2 in current assets for every $1 in current liabilities; a company with a Current Ratio of 1.5 shows it has $1.50 in current assets for every $1 in current liabilities. 

The Reserves Ratio measures the level of resources a company has to meet its annual expenditure. It provides an indication of how long a company could operate on its reserves. Reserves provide a financial buffer to manage risk e.g. unexpectedly low income, and sustain operations during financial downturns.

The recommended Reserves Ratio benchmark is 20%.

The formula to calculate your reserves ratio is:

• Total Equity divided by Total Annual Expenditure multiplied by 100.
  

Example:

A company has $750,000 in Equity (net assets) and its annual operating expenditure is $1,500,000.

• This is calculated as $750,000 ÷ $1,500,000 = 0.50
• 0.50 x 100 = 50%