2007 Annual report (PDF 8.1 Mb) - University of Melbourne

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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2007 NOTE 18: CASH AND CASH EQUIVALENTS CONSOLIDATED UNIVERSITY 2007 2006 2007 2006 $’000 $’000 $’000 $’000 Cash 94,263 50,496 83,442 36,320 Petty Cash Floats 279 201 238 174 Deposits at Call/Term Deposits 4,768 6,613 - - Bank Bills (maturity < than 90 days) - 11,125 - - Total Cash and Cash Equivalents 99,310 68,435 83,680 36,494 The above figures represent the cash at the end of the year as shown in the Cash Flow Statement. NOTE 19: RECEIVABLES Current Trade Receivables 51,706 40,105 44,553 35,211 Sundry Debtors 18,496 24,642 14,512 19,253 Less: Allowance for Doubtful Debts (1,082) (540) (632) (398) 69,120 64,207 58,433 54,066 Student Loans 1,834 1,735 1,834 1,735 Less: Allowance for Doubtful Debts (50) (50) (50) (50) 1,784 1,685 1,784 1,685 Deferred Government Contributions for Superannuation 8,130 7,855 8,130 6,922 Other 1,269 1,442 3 665 Less: Allowance for Doubtful Debts - - - - Total Current Receivables 80,303 75,189 68,350 63,338 Non-Current Student Loans - 1 - - Deferred Government Contributions for Superannuation 88,981 97,601 88,981 83,801 State Government of Victoria (MTC Development) 51,000 51,000 51,000 51,000 Other - 2,282 - 2,282 Less: Allowance for Doubtful Debts - (2,258) - (2,258) Total Non-Current Receivables 139,981 148,626 139,981 134,825 (a) Deferred Government Contributions to Superannuation The University recognises a receivable for the amount expected to be received from the Australian Government in respect of unfunded superannuation schemes operated by the State Government. The total consolidated amount owing in respect of these schemes at 30 June 2007 is recorded at $97.1 million (2006 $105.5 million). Refer Notes 1.19(iv), 29 and 36. (b) Melbourne Theatre Company Development The University has entered into an agreement with the State Government of Victoria for the development of a 500 seat theatre for the Melbourne Theatre Company. The $51.0 million receivable represents the total value of the theatre to be received by the University on completion. (c) Effective Interest Rates and Credit Risk Information concerning the credit risk of both current and non-current receivables is set out in Note 32. (d) Ageing of Receivables Included in the Group’s Receivables balance are $1.1 million of debtors which are considered to be impaired and for which a provision has been provided (2006, $4.0 million). Of the Group’s impaired receivables in 2007, 44% were between three and six months past due (2006, 11%) and 53% were more than six months overdue (2006, 89%). The 2006 balance included one $2.6 million debtor that was overdue by more than six months, which was written off in 2007. Also included in the Group’s Receivables balance are debtors that are past due at the reporting date which are not considered to be impaired. Four percent of total receivables were past due but not impaired in 2007 (2006, 4%). The Group has not provided for these receivables as it is considered that these amounts are still recoverable.
FINANCIAL STATEMENTS CONSOLIDATED UNIVERSITY 2007 2006 2007 2006 $’000 $’000 $’000 $’000 NOTE 20: INVENTORIES Finished Goods 4,920 5,260 3,570 3,855 Raw Materials 429 180 429 180 Work in Progress 166 177 - - Livestock and Other 795 1,466 795 1,466 Total Inventories 6,310 7,083 4,794 5,501 NOTE 21: OTHER FINANCIAL ASSETS AT FAIR VALUE Current Bank and Term Deposits (> 90 days) 51,568 17,444 40,163 2 Commercial Paper 26,610 27,343 26,610 27,343 Debentures 13,334 35,866 13,334 35,866 Unit Trusts 2,328 21,247 2,328 21,247 Total Other Financial Assets at Fair Value 93,840 101,900 82,435 84,458 NOTE 22: OTHER NON-FINANCIAL ASSETS (CURRENT) Prepaid Expense 6,239 6,967 6,076 6,504 Accrued Income/Other 2,156 2,419 1,187 1,116 Total Other Non-Financial Assets 8,395 9,386 7,263 7,620 NOTE 23: AVAILABLE-FOR-SALE FINANCIAL ASSETS Non-Current Shares, Equities and Convertible Notes* 1,064,627 1,060,822 1,064,347 1,008,046 Listed Income Securities/Unit Trusts 264,478 186,206 175,575 178,133 International and Domestic Bonds - 19,381 - - Mortgage Loans - 90 - 90 Units in Pool** - - (172) (162) Total Available-for-Sale Financial Assets 1,329,105 1,266,499 1,239,750 1,186,107 * A portion of this balance is pledged as security over the Group’s long-term borrowings. Refer to Note 29 for further details. ** Represents the ownership of Units in the University’s Investment Pool held by Subsidiaries NOTE 24: OTHER FINANCIAL ASSETS Non-Current Investment in Subsidiary Companies - - 22,148 25,348 Other Investments 32,802 27,170 32,802 27,170 Provision for Accumulated Impairment (28,677) (23,045) (31,677) (28,844) Other 20 20 - - Total Other Financial Assets 4,145 4,145 23,273 23,674 The University of Melbourne Annual Report 2007 115
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ANNUAL REPORT07 A TRADITION OF INNO
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Chancellor’s Letter Chancellor’
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COUNCIL Members of Council and the
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SENIOR OFFICERS Senior Officers Pre
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HIGHLIGHTS Knowledge Transfer > Ina
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INTRODUCTION And OVERVIEW Introduct
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INTRODUCTION And OVERVIEW In 2007 M
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INTRODUCTION And OVERVIEW Lady Sout
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QUALITY PeoPLE Academic and Profess
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QUALITY PeoPLE HIGH ACHIEVING STAFF
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QUALITY PeoPLE HIGH ACHIEVING STUDE
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SECTION HEADING APPEARS HERE Perfor
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RESEARCH & ReseARCH TRAINING Resear
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RESEARCH & ReseARCH TRAINING reduci
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LEARNING & teACHING In 2006 the Uni
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LEARNING & teACHING Quality of Teac
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LEARNING & teACHING > Review the su
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Sally Firth Single mother of three
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LEARNING & teACHING undergraduate s
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KNOWLEDGE TRANSFER Internationally
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KNOWLEDGE TRANSFER supports ethical
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KNOWLEDGE TRANSFER of the Universit
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INTERNATIONAL ENGAGEMENT cooperatio
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INTERNATIONAL ENGAGEMENT and engage
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BINDING THE stRANDS TOGETHER The Le
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BINDING THE stRANDS TOGETHER 2007 s
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Page 81 and 82: STATUTORY REPORTIng TABLE 1 Objecti
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Page 93 and 94: FINANCIAL stATEMENTS Financial Posi
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Page 97 and 98: THE UNIVERSITY OF MELBOURNE INCOME
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Page 103 and 104: FINANCIAL STATEMENTS NOTE 1: STATEM
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Page 129 and 130: FINANCIAL STATEMENTS NOTE 32: FINAN
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Page 133 and 134: FINANCIAL STATEMENTS NOTE 33: RESPO
Page 135 and 136: FINANCIAL STATEMENTS NOTE 35: COMMI
Page 137 and 138: FINANCIAL STATEMENTS NOTE 36: SUPER
Page 139 and 140: FINANCIAL STATEMENTS NOTE 39: CONSU
Page 141 and 142: FINANCIAL STATEMENTS NOTE 41: SUMMA
Page 143 and 144: FINANCIAL STATEMENTS NOTE 43: SUBSI
Page 145 and 146: FINANCIAL STATEMENTS UNIVERSITY GEN
Page 147 and 148: FINANCIAL STATEMENTS UNIVERSITY TRU
Page 149 and 150: FINANCIAL STATEMENTS NOTE 49: AQUIT
Page 155: FINANCIAL STATEMENTS THE UNIVERSITY
Page 158 and 159: Compliance Index to Disclosure Requ
Page 160 and 161: USEFUL WEBSITES Vice-Chancellor’s
Page 162 and 163: NOTES
Page 164: WWW.UNIMELB.EDU.AU THE UNIVERSITY O
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2007 Annual report (PDF 8.1 Mb) - University of Melbourne

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