# Email to Craig

Hi Craig

The first tranche of information I provided about the Academy’s financial position only provided information on our operating segment, which is defined by the Academy as underlying operations [including/excluding].

To understand the impact of recent falls in government grant revenue on the Academy’s finances, it is important to include the total staff expenditure linked to restricted funds, which include both special purpose funds in the Academy’s corpus and project grants provided by government for specific activities.

Table 1 below shows the breakdown of the operating segment only and does not include any costs associated with restricted funds.

Table 2 breaks down total staff costs (the Academy's primary expense) into those supported by operating funds and those supported by restricted funds. Operating funds are primarily made up of:
* external revenues (grant-in-aid from the Australia government, Fellowship subscriptions, commercial venue hire revenues, sponsorships and event registration fees)
* income from the Academy’s unrestricted and restricted funds.

Full academy position includes grant revenues