Annual Report 2017-18 | Monash Health

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Notes to the Financial Statements Monash Health Annual Report 2017/2018 Note 6: How we finance our operations This section provides information on the sources of finance utilised by Monash Health during its operations, along with interest expenses (the cost of borrowings) and other information related to financing activities of Monash Health. This section includes disclosures of balances that are financial instruments (such as borrowings and cash balances). Note: 7.1 provides additional, specific financial instrument disclosures. Structure 6.1 Borrowings 6.2 Cash and cash equivalents 6.3 Commitments for expenditure 112 Monash Health Annual Report 2017-18
Notes to the Financial Statements Monash Health Annual Report 2017/2018 Note 6.1: Borrowings Consolidated Consolidated 2018 2017 $'000 $'000 CURRENT Australian Dollar Borrowings – Finance Lease Liability i 5,600 5,048 – TCV Loan ii 1,181 1,113 – Advances from Government iii 1,000 - Total Australian Dollars Borrowings 7,781 6,161 Total Current 7,781 6,161 NON CURRENT Australian Dollar Borrowings – Finance Lease Liability i 51,945 56,229 – TCV Loan ii 26,008 27,189 – Advances from Government iii 7,844 - Total Australian Dollars Borrowings 85,797 83,418 Total Non-Current 85,797 83,418 Total Borrowings 93,578 89,579 i During the year ended 30 June 2005, Casey Hospital commenced operation. Construction and fit out of Casey Hospital was funded as Public Private Partnership under a Project Agreement between the State of Victoria and Progress Health Pty Ltd. Monash Health is responsible for operating Casey Hospital and has recognised the leased asset (Note 4.2) and associated interest bearing liabilities. The State of Victoria is obligated to fund quarterly service payments due under the Project Agreement for the life of that agreement, a period of up to 25 years. ii During the year ended 30 June 2010, Monash Health entered into a loan agreement with the Treasury Corporation of Victoria to fund $19.6m improvements required to the car park at the Clayton site. The loan is repayable over 22 years with repayments being made quarterly. During the year ended 30 June 2014, Monash Health made a further drawdown under the existing loan arrangement with the Treasury Corporation of Victoria to fund $13.5m improvements required to the car park at the Clayton site. The loan is repayable over 20 years with repayments being made quarterly. iii During the year ended 30 June 2018, the Department of Health and Human Services granted an interest free loan of $10m to Monash Health. The loan is repayable over 10 years with repayments being made annually. (a) Maturity analysis of borrowings Please refer to Note 5.4 for the ageing analysis of borrowings. (b) Defaults and breaches During the current and prior year, there were no defaults and breaches of any of the borrowings. 113
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Annual Report 2017-18
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Contents Our care at a glance 4 Re
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Monash Health is proud to provide h
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Barbara Yeoh AM Chair of the Board
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The year in review Delivering excep
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Baby Harry goes home after 176 days
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Telehealth pilot program saves John
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Trial provides treatment at home fo
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Happy 1st birthday Monash Children
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In FY 2017-18: 470 New research pro
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MonashHeart and Monash University r
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Support Officer, Tracey Stephens, r
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Professor Barbara Workman received
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Our community Refugee Week 2018 In
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A journey starts with one small ste
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Our services Monash Health provides
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Office of the Chief Executive Stuar
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After developing symptoms, Brendan
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Clinical governance report Monash H
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Bicycle Facilities Monash Health ha
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Members of the Board of Directors M
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Dr Misty Jenkins BSc (Hons), PhD, M
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Fees and charges Application fees c
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Legislation Requirement Page refere
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Statement of Priorities - Part A He
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Health Service Deliverables Strengt
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Target 2017-2018 Result Adverse eve
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Target 2017-2018 Result Specialist
Page 61 and 62: 2017-18 Activity Achievement Subacu
Page 63 and 64: Disclosure Details of Information a
Page 65 and 66: Consultant Purpose of Consultancy S
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Page 69 and 70: Independent Auditor’s Report To t
Page 71 and 72: Monash Health Annual Report 2017/20
Page 73 and 74: Monash Health Statement of Changes
Page 75 and 76: Notes to the Financial Statements M
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Page 83 and 84: Note 3: The cost of delivering our
Page 85 and 86: Note 3.1: Analysis of expenses by s
Page 89 and 90: Note 3.5: Employee benefits in the
Page 91 and 92: Note 3.6: Superannuation Notes to t
Page 93 and 94: Note 4.1: Investments accounted for
Page 103 and 104: Note 4.3: Depreciation and amortisa
Page 111: Note 5.4 (a): Payables and borrowin
Page 117 and 118: Note 6.3: Commitments for expenditu
Page 121 and 122: Note 7.1: Financial instruments (co
Page 137 and 138: Note 8.11: Economic dependency Note
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