CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
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<strong>CQ<strong>University</strong></strong> ANNUAL REPORT 2012<br />
(a) Movements in provisions<br />
<strong>Central</strong> <strong>Queensland</strong> <strong>University</strong><br />
and Controlled Entities<br />
Notes to the Financial Statements<br />
for the year ended 31 December 2012<br />
Movements in each class of provision during the financial year, other than employee benefits, are set out below:<br />
Grant<br />
Recovery<br />
2012<br />
Consolidated<br />
$'000<br />
Current<br />
Carrying amount at start of year 1,454<br />
Additional provisions recognised 3,424<br />
Amounts used (1,398)<br />
Unused amounts reversed -<br />
Carrying amount at end of year 3,480<br />
39<br />
ANNUAL FINANCIAL STATEMENTS<br />
Grant recovery<br />
Provision is made for estimated recovery of Australian Government financial assistance in particular Commonwealth Grants Scheme,<br />
HECS-HELP and Commonwealth Scholarships due to lower than expected student enrolments.<br />
Make Good<br />
2012<br />
$'000<br />
Non-current<br />
Carrying amount at start of year 2,822<br />
Additional provisions recognised 999<br />
Unused amounts reversed -<br />
Change in estimated cashflows 147<br />
Increase/(decrease) in discounted amount 183<br />
Carrying amount at end of year 4,151<br />
Leasehold improvements - make good<br />
Provision is made for estimated make good expenses in accordance with the terms of the lease agreements for premises at 400 Kent<br />
Street Sydney, 90 Goodchap Street Noosaville, 160 Ann Street Brisbane, 44 Greenhill Road Wayville and 134 -140 Little Lonsdale Street<br />
Melbourne. The leases have termination dates of 2022, 2021, 2020 and 2016 respectively when it is expected that these obligations will<br />
be realised.<br />
Consolidated<br />
Parent Entity<br />
2012 2011 2012 2011<br />
$'000 $'000 $'000 $'000<br />
Note 30. Other liabilities<br />
Current<br />
Revenue received in advance 10,577 15,326 10,566 15,329<br />
Building lease liability* 491 693 491 693<br />
Other 3,012 3,689 2,997 3,174<br />
Total current other liabilities 14,080 19,708 14,054 19,196<br />
Non-current<br />
Building lease liability* 16,741 12,559 16,741 12,559<br />
Total non-current other liabilities 16,741 12,559 16,741 12,559<br />
Total other liabilities 30,821 32,267 30,795 31,755<br />
*This accumulated liability relates to the <strong>University</strong>'s operating leases for the Australian International Campuses' premises which are<br />
expensed on a straight-line basis over the terms of the individual lease in accordance with AASB 117. This liability is over the<br />
remaining life of the leases.
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