6 <strong>Central</strong> <strong>Queensland</strong> <strong>University</strong> 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 <strong>Central</strong> <strong>Queensland</strong> <strong>University</strong> (25,896) (3,278) (24,636) (2,943) The above Income Statements should be read in conjunction with the accompanying notes.
<strong>CQ<strong>University</strong></strong> ANNUAL REPORT 2012 <strong>Central</strong> <strong>Queensland</strong> <strong>University</strong> and Controlled Entities Statements of Comprehensive Income for the year ended 31 December 2012 Consolidated Parent Notes 2012 2011 2012 2011 $'000 $'000 $'000 $'000 Operating result from continuing operations after income tax for the year (26,084) (3,278) (24,636) (2,943) Other comprehensive income Gain (loss) on revaluation of land and buildings, net of tax 31(a) 2,119 2,179 2,119 2,179 Gain (loss) on revaluation of infrastructure, net of tax 31(a) 71 61 71 61 Gain (loss) on revaluation of artwork collection, net of tax 31(a) (77) 347 (77) 347 Gain (loss) on revaluation of library collection, net of tax 31(a) 1,167 - 1,167 - Gain (loss) on foreign exchange reserve 31(a) 34 - - - Gain (loss) on value of available for sale financial assets, net of tax 31(a) 3,589 (3,594) 3,219 (3,571) 7 ANNUAL FINANCIAL STATEMENTS Total comprehensive income (19,181) (4,285) (18,137) (3,927) Total comprehensive income attributable to: Non-controlling interest (171) - - - Total comprehensive income attributable to members of <strong>Central</strong> <strong>Queensland</strong> <strong>University</strong> (19,010) (4,285) (18,137) (3,927) The above Statement of Comprehensive Income should be read in conjunction with the accompanying notes.