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

NOTES TO AND FORMING PART OF THE
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2007
NOTE 42: SUBSIDIARIES - INCOME STATEMENT ANALYSIS
With the exception of some subsidiaries in UMEE Ltd all subsidiaries of the University are domiciled in Australia.
Total
Income
Total
Income
Total
Expenditure
Total
Expenditure
2007 2006 2007 2006
SUBSIDIARY $’000 $’000 $’000 $’000
Victorian College of the Arts * - 28,946 - 28,358
Melbourne Business School Limited Group 75,077 48,732 58,834 47,422
UMEE Ltd Group 24,658 19,361 23,976 20,249
Meanjin Company Limited 281 302 244 269
Australian Music Examinations Board (Victoria) Limited 2,043 1,954 1,767 1,736
Australian International Health Institute (University of Melbourne)
6,592 5,641 6,750 5,565
Limited
Australian National Academy of Music Limited 2,886 2,863 2,872 2,790
MU Student Union Limited 13,294 17,822 13,789 16,313
Melbourne Ventures Pty Ltd ** - 2,304 - 2,306
Melbourne University Publishing Limited 6,206 7,357 6,401 4,992
The Victorian Institute for Chemical Sciences Limited *** 621 1,743 1,941 3,383
Total - University Subsidiaries 131,658 137,024 116,574 133,382
Tax
(Expense) /
Benefit
Tax
(Expense) /
Benefit
Profit /
(Loss)
Profit /
(Loss)
2007 2006 2007 2006
SUBSIDIARY $’000 $’000 $’000 $’000
Victorian College of the Arts * - - - 588
Melbourne Business School Limited Group - - 16,242 1,310
UMEE Ltd Group (430) - 252 (888)
Meanjin Company Limited - - 37 33
Australian Music Examinations Board (Victoria) Limited - - 276 219
Australian International Health Institute (University of Melbourne)
- - (157) 76
Limited
Australian National Academy of Music Limited - - 14 73
MU Student Union Limited - - (495) 1,509
Melbourne Ventures Pty Ltd ** - 1 - (1)
Melbourne University Publishing Limited - - (195) 2,366
The Victorian Institute for Chemical Sciences Limited *** - - (1,320) (1,640)
Total - University Subsidiaries (430) 1 14,654 3,644
Where applicable, the results of the above Subsidiaries include contributions from the University of Melbourne.
* The Victorian College of the Arts became a faculty of the University of Melbourne with effect from 1 January 2007. As such, the VCA
ceased to exist as a separate reporting entity from that date. Refer to Note 40 for further details.
** On 30 June 2007, the shares held by the University in Melbourne Ventures Pty Ltd were sold to UMEE Ltd, a subsidiary of the
University. From this date Melbourne Ventures Pty Ltd became a subsidiary of UMEE Ltd.
*** The Victorian Institute for Chemical Sciences Limited (VICS) operated on a June financial year-end until 30 June 2006. In March 2007,
the Board of VICS approved the change of the financial year to a December year-end in order to align its reporting to the University. The
results for VICS included within the Financial Report relate to an eighteen month period from 1 July 2006 to 31 December 2007.