CQUniversity Annual Report - Central Queensland University

6Central Queensland Universityand Controlled EntitiesIncome Statementsfor the year ended 31 December 2012ConsolidatedParentNotes 2012 2011 2012 2011$'000 $'000 $'000 $'000Income from continuing operationsAustralian Government financial assistanceAustralian Government grants 3 91,538 82,740 91,538 82,740HELP - Australian Government payments 3 40,931 31,451 40,931 31,451HECS-HELP - Student payments 5,819 4,892 5,819 4,892Fees and charges 4 89,936 98,870 90,274 107,610Investment and rental income 5 3,741 8,402 3,177 8,682Royalties, trademarks and licences 4 14 4 14Consultancy and contracts 6 7,756 7,367 7,756 7,367Revaluation increment - - - -Sale of books and related student material 7 4,072 4,120 4,175 4,208Non-government grants 3,231 2,163 3,231 2,163Other revenue 8 4,264 2,695 3,976 2,322Total revenue from continuing operations 251,292 242,714 250,881 251,449Fair value adjustment to investment property - 350 - 350Gain on assets acquired at less than fair value 9 - 8,081 - 8,081Other income 16 - 16 -Total income from continuing operations 251,308 251,145 250,897 259,880Expenses from continuing operationsEmployee related expenses 10 161,632 145,797 130,540 116,108Depreciation and amortisation 11 14,327 13,038 13,583 12,239Repairs and maintenance 12 9,576 10,278 8,161 8,856Bad and doubtful debts 114 206 113 206Finance costs 208 25 208 25Management and other fees 13 16,252 14,817 53,143 61,098Minor acquisitions and consumables 7,496 9,114 7,054 8,643Minimum lease payments on operating leases 23,074 19,069 22,834 19,046Telecommunications 3,428 2,943 3,249 2,780Staff development, training and related travel 7,295 7,772 6,560 6,686Inventory purchases 3,110 2,656 3,110 2,656Books and subscriptions 1,939 2,133 1,531 1,764Recovery of Grants 14 3,561 2,708 3,561 2,708Loss on disposal of assets 42 653 29 629Other expenses 15 25,655 22,942 21,857 19,378Total expenses from continuing operations 277,709 254,152 275,533 262,823Share 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 forthe period (26,084) (3,278) (24,636) (2,943)Operating result attributable to non-controlling interest (188) - - -Operating result attributable to members of Central QueenslandUniversity (25,896) (3,278) (24,636) (2,943)The above Income Statements should be read in conjunction with the accompanying notes.