CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
CQUniversity Annual Report - Central Queensland University
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44<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 />
Note 32. Key Management personnel and remuneration (continued)<br />
(c) Remuneration of Council and Board Members<br />
<strong>Central</strong> <strong>Queensland</strong> <strong>University</strong> Council members do not receive any remuneration for attendance at Council meetings or<br />
activities. The <strong>University</strong> does accept financial responsibility for travel costs related to <strong>University</strong> meetings and activities.<br />
Board members of Australian International Campuses Pty Ltd, CQU Travel Centre Pty Ltd, Health Train Education Services<br />
Pty Ltd and CQU Institute of Higher Learning Pte Ltd receive no remuneration from the company or the Group in return for<br />
their efforts in the discharge of their responsibilities in those positions.<br />
C Management Services Pty Ltd's Shareholder determines the aggregate amount of Directors Fees or remuneration.<br />
Directors Fees are allocated among the Non-Executive Directors as the Board determines and do not, in any financial year,<br />
exceed in aggregate the amount last determined by the Company's Shareholder. Remuneration of Directors was last<br />
reviewed by the Board on 28 November 2012.<br />
Remuneration packages for Board personnel comprise the following components:-<br />
<br />
<br />
C Management Services Pty Ltd<br />
Short-term employee benefits<br />
Post-employment benefits<br />
Other long-term benefits<br />
Termination benefits<br />
2012 2011<br />
$ $<br />
208,607 213,586<br />
17,865 19,222<br />
- -<br />
- -<br />
226,472 232,808<br />
2012 C Management Services Pty Ltd<br />
Position<br />
Chairman of the Board *<br />
Board Member (1)<br />
Board Member (2)<br />
Board Member (3)<br />
Board Member (4)<br />
Short term Employee<br />
Benefits<br />
Base<br />
$'000<br />
Non-<br />
Monetary<br />
Benefits<br />
$'000<br />
Long Term<br />
Employee<br />
Benefits<br />
Post<br />
Employment<br />
Benefits<br />
Termination<br />
Benefits<br />
Total<br />
Remuneration<br />
$'000 $'000 $'000 $'000<br />
- - - - - -<br />
53 - - 4 - 57<br />
52 - - 5 - 57<br />
52 - - 5 - 57<br />
52 - - 5 - 57<br />
209 - - 18 - 227<br />
* The Chairman of the Board is an employee of <strong>Central</strong> <strong>Queensland</strong> <strong>University</strong> (the Company's ultimate shareholder) and is<br />
not paid Director's fees.
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