❓ A WA parliamentary question regarding a grant and loan to the Fremantle Arts Centre Press, including information requirements, conditions, and repayment of previous loans. The Minister's response provides details on the information provided, conditions imposed, and the status of a previous loan.
AnsweredQoN 45Legislative Council
QuestionView source ↗
FREMANTLE ARTS CENTRE PRESS - GRANT
I refer to the additional grant given to the Fremantle Arts Centre Press. (1) What information was required from the Fremantle Arts Centre Press before the grants and loan to the arts centre press were announced by the minister in the week commencing Monday, 12 March? (2) What conditions were placed on the FACP prior to receipt of these moneys? (3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH
I refer to the additional grant given to the Fremantle Arts Centre Press. (1) What information was required from the Fremantle Arts Centre Press before the grants and loan to the arts centre press were announced by the minister in the week commencing Monday, 12 March? (2) What conditions were placed on the FACP prior to receipt of these moneys? (3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH
AnswerView source ↗
I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(1) What information was required from the Fremantle Arts Centre Press before the grants and loan to the arts centre press were announced by the minister in the week commencing Monday, 12 March? (2) What conditions were placed on the FACP prior to receipt of these moneys? (3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(2) What conditions were placed on the FACP prior to receipt of these moneys? (3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(1) What information was required from the Fremantle Arts Centre Press before the grants and loan to the arts centre press were announced by the minister in the week commencing Monday, 12 March? (2) What conditions were placed on the FACP prior to receipt of these moneys? (3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(2) What conditions were placed on the FACP prior to receipt of these moneys? (3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(3) Have previous loans, including one made by the Court government, been repaid? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
I thank the member for some notice of this question. (1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(1) The Fremantle Arts Centre Press provided comprehensive financial and operational information, including a five-year cash flow, as part of a detailed report to the Department of Culture and the Arts on its future sustainability. In addition, the arts centre press provided similar detailed information to an independent accounting firm, which reviewed the arts centre press’s current and future financial position. (2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(2) The additional funding and interest-free loan have been provided to the arts centre press conditional on approval of a new business and corporate governance plan, including succession planning; detailed financial projections, including a loan repayment plan over the next five years; and installation of new accounting software. The department will monitor the arts centre press’s financial situation closely. (3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
(3) In July 1995, the arts centre press was provided with an interest-free loan of $50 000, approved by the then minister as part of an arts venture-capital funding program. An amount of $16 250 was repaid. The balance of $33 750 was converted to a stabilisation grant in November 2005 to assist the arts centre press’s future sustainability.
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