2007 Annual report (PDF 8.1 Mb) - University of Melbourne
2007 Annual report (PDF 8.1 Mb) - University of Melbourne
2007 Annual report (PDF 8.1 Mb) - University of Melbourne
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NOTES TO AND FORMING PART OF THE<br />
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER <strong>2007</strong><br />
NOTE 44: SUBSEQUENT EVENTS<br />
Subsequent to balance date, there has been a downturn in global equity markets which has resulted in a reduction to the investment values<br />
shown in Note 23. Based on information available at 29 February 2008, the decline in the investment portfolio amounted to $110.4 million,<br />
largely comprising Australian Equities $48.2 million and International Equities $43.3 million.<br />
Unless otherwise disclosed, there are no other matters or circumstances that have arisen since the end <strong>of</strong> the financial year that have<br />
affected or may subsequently affect the financial position <strong>of</strong> the <strong>University</strong> or its subsidiaries.<br />
CONSOLIDATED<br />
UNIVERSITY<br />
<strong>2007</strong> 2006 <strong>2007</strong> 2006<br />
$’000 $’000 $’000 $’000<br />
NOTE 45: RECONCILIATION OF CASH FLOWS FROM<br />
OPERATING ACTIVITIES<br />
Operating Result from Continuing Operations after Related<br />
Income Tax Expense 96,246 90,007 183,378 84,431<br />
Add/(less) Non-Cash Flows in Net Pr<strong>of</strong>it/(Loss)<br />
Depreciation and Amortisation 82,135 75,362 76,174 68,628<br />
Impairment Losses 5,042 4,970 4,989 7,970<br />
Net Transfers Received Free <strong>of</strong> Charge (1,865) (189) (90,188) -<br />
Bad and Doubtful Debts 2,603 681 2,563 506<br />
Revaluation Gains on Other Financial Assets at Fair Value (1,309) (389) (1,299) (434)<br />
Loss / (Gain) on Sale/Redemption <strong>of</strong> Investments (27,533) 4,733 (16,265) 5,296<br />
Net (Gain) / Loss on Sale <strong>of</strong> Non-Current Assets 1,594 1,691 1,440 1,718<br />
Reinvestment <strong>of</strong> Dividends (10,962) - - -<br />
Changes in Assets and Liabilities<br />
Decrease (Increase) in Receivables (9,470) (45,131) (8,795) (49,153)<br />
Decrease (Increase) in Prepayments 760 3,417 461 3,460<br />
Decrease (Increase) in Other Assets (406) (2,253) (104) (1,302)<br />
Decrease (Increase) in Inventories 773 (758) 707 (405)<br />
Increase (Decrease) in Provision for Doubtful Debts (1,716) (135) (2,024) 11<br />
Increase (Decrease) in Provision for Income Taxes Payable 5 3 - -<br />
Increase (Decrease) in Payables 1,253 10,651 (1,372) 14,436<br />
Increase (Decrease) in Provisions for Employee Entitlements 19,624 3,911 18,552 3,802<br />
Increase (Decrease) in Income in Advance 488 34,945 2,265 32,161<br />
Increase (Decrease) in Other Provisions (4,414) (8,604) (4,620) (6,285)<br />
Increase (Decrease) in Liabilities Held for Sale 3,200 - - -<br />
Net Cash Inflow from Operating Activities 156,048 172,912 165,862 164,840
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