CQUniversity Annual Report - Central Queensland University

6
Central Queensland University
and Controlled Entities
Income Statements
for the year ended 31 December 2012
Consolidated
Parent
Notes 2012 2011 2012 2011
$'000 $'000 $'000 $'000
Income from continuing operations
Australian Government financial assistance
Australian Government grants 3 91,538 82,740 91,538 82,740
HELP - Australian Government payments 3 40,931 31,451 40,931 31,451
HECS-HELP - Student payments 5,819 4,892 5,819 4,892
Fees and charges 4 89,936 98,870 90,274 107,610
Investment and rental income 5 3,741 8,402 3,177 8,682
Royalties, trademarks and licences 4 14 4 14
Consultancy and contracts 6 7,756 7,367 7,756 7,367
Revaluation increment - - - -
Sale of books and related student material 7 4,072 4,120 4,175 4,208
Non-government grants 3,231 2,163 3,231 2,163
Other revenue 8 4,264 2,695 3,976 2,322
Total revenue from continuing operations 251,292 242,714 250,881 251,449
Fair value adjustment to investment property - 350 - 350
Gain on assets acquired at less than fair value 9 - 8,081 - 8,081
Other income 16 - 16 -
Total income from continuing operations 251,308 251,145 250,897 259,880
Expenses from continuing operations
Employee related expenses 10 161,632 145,797 130,540 116,108
Depreciation and amortisation 11 14,327 13,038 13,583 12,239
Repairs and maintenance 12 9,576 10,278 8,161 8,856
Bad and doubtful debts 114 206 113 206
Finance costs 208 25 208 25
Management and other fees 13 16,252 14,817 53,143 61,098
Minor acquisitions and consumables 7,496 9,114 7,054 8,643
Minimum lease payments on operating leases 23,074 19,069 22,834 19,046
Telecommunications 3,428 2,943 3,249 2,780
Staff development, training and related travel 7,295 7,772 6,560 6,686
Inventory purchases 3,110 2,656 3,110 2,656
Books and subscriptions 1,939 2,133 1,531 1,764
Recovery of Grants 14 3,561 2,708 3,561 2,708
Loss on disposal of assets 42 653 29 629
Other expenses 15 25,655 22,942 21,857 19,378
Total expenses from continuing operations 277,709 254,152 275,533 262,823
Share of profit/(loss) on equity accounted investments (net of tax) 23 (59) 41 - -
Operating result from continuing operations before income tax (26,460) (2,966) (24,636) (2,943)
Income tax expense 16 376 (312) - -
Operating result from continuing operations after income tax for
the period (26,084) (3,278) (24,636) (2,943)
Operating result attributable to non-controlling interest (188) - - -
Operating result attributable to members of Central Queensland
University (25,896) (3,278) (24,636) (2,943)
The above Income Statements should be read in conjunction with the accompanying notes.