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

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FINANCIAL STATEMENTS INDEX Income Statement 95 Balance Sheet 96 Statement of Changes in Equity 97 Cash Flow Statement 98 Notes to and Forming Part of the Financial Statements 99 1. Statement of Significant Accounting Policies 99 2. Australian Government Financial Assistance 108 3. State Government Financial Assistance 109 4. Fees and Charges 110 5. Investment Income 110 6. Royalties, Trademarks and Licences 110 7. Consultancy and Contract Research 111 8. Other Income 111 9. Employee Benefits and On Costs 111 10. Depreciation and Amortisation 112 11. Repairs and Maintenance 112 12. Finance Costs 112 13. Bad and Doubtful Debts 112 14. Accounting and Auditing Services 112 15. Other Expenses 113 16. Gain / (Loss) on Disposal of Assets 113 17. Income Tax (Expense) / Benefit 113 18. Cash and Cash Equivalents 114 19. Receivables 114 20. Inventories 115 21. Other Financial Assets at Fair Value 115 22. Other Non-Financial Assets (Current) 115 23. Available-for-Sale Financial Assets 115 24. Other Financial Assets 115 25. Property, Plant and Equipment 116 26. Intangible Assets 122 27. Payables 122 28. Borrowings 122 29. Provisions 123 30. Other Current Liabilities 124 31. Reserves and Retained Surplus 124 32. Financial Instruments 127 33. Responsible Persons and Executive Officers 129 34. Contingent Assets and Contingent Liabilities 132 35. Commitments 133 36. Superannuation Commitments 134 37. WorkCover – Self Insurance 135 38. Related Party Transactions 135 39. Consultants 137 40. Investments in Subsidiaries 138 41. Summary of Net Result for Each Consolidated Entity 139 42. Subsidiaries – Income Statement Analysis 140 43. Subsidiaries – Balance Sheet Analysis 141 44. Subsequent Events 142 45. Reconciliation of Cash Flows from Operating Activities 142 46. Detailed Income Statement – University 143 47. Detailed Balance Sheet – University 145 48. Detailed Cash Flow Statement – University 146 49. Acquittal of Australian Government Financial Assistance (University Only) 147 Statement by University Officers 153 Victorian Auditor-General’s Report 154 Compliance Index to Disclosure Requirements 2007 156
THE UNIVERSITY OF MELBOURNE INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2007 FINANCIAL STATEMENTS CONSOLIDATED UNIVERSITY 2007 2006 2007 2006 NOTE $’000 $’000 $’000 $’000 Income from Continuing Operations Australian Government Financial Assistance Australian Government Grants 2 555,560 488,287 552,606 485,213 HECS-HELP Australian Government Payments 2 79,626 75,655 79,626 75,655 FEE-HELP 2 30,107 28,171 30,107 27,076 State Government Financial Assistance 3 31,684 48,098 31,669 47,725 HECS-HELP Student Payments 27,519 25,272 27,519 24,372 Fees and Charges 4 398,905 363,368 324,435 295,413 Investment Income 5 167,650 114,025 141,856 104,304 Royalties, Trademarks and Licences 6 3,908 5,066 3,127 5,054 Consultancy and Contract Research 7 25,857 24,388 25,857 24,040 Other Income 8 120,475 115,669 108,299 102,025 Deferred Government Superannuation Contributions (8,345) (5,433) (8,345) (4,667) Total Income from Continuing Operations 1,432,946 1,282,566 1,316,756 1,186,210 Expenses from Continuing Operations Employee Benefits and On Costs 9 712,625 634,916 663,491 574,063 Depreciation and Amortisation 10 82,135 75,362 76,174 68,628 Repairs and Maintenance 11 61,240 44,233 60,023 41,437 Finance Costs 12 11,552 10,887 11,423 10,767 Bad and Doubtful Debts 13 887 546 539 517 Accounting and Auditing Services 14 717 755 397 390 Other Expenses 15 475,459 431,294 433,595 410,644 Deferred Employee Benefits for Superannuation (8,345) (5,433) (8,345) (4,667) Total Expenditure from Continuing Operations 1,336,270 1,192,560 1,237,297 1,101,779 Operating Result from Continuing Operations before related Income Tax Expense 96,676 90,006 79,459 84,431 Income Tax (Expense) / Benefit 17 (430) 1 - - Subtotal - Net Operating Result for the Year before VCA Integration 96,246 90,007 79,459 84,431 Income recognised on Integration of the VCA 40 - - 103,919 - Net Result for the Year 96,246 90,007 183,378 84,431 The above Income Statement should be read in conjunction with the accompanying notes. The University of Melbourne Annual Report 2007 95
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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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SECTION HEADING APPEARS HERE Perfor
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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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FINANCIAL STATEMENTS UNIVERSITY TRU
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FINANCIAL STATEMENTS NOTE 49: AQUIT
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FINANCIAL STATEMENTS THE UNIVERSITY
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Compliance Index to Disclosure Requ
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USEFUL WEBSITES Vice-Chancellor’s
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NOTES
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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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