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Among them was the establishment of the University Research Page on the World Wide Web. The Faculty of Music hosted one of the largest musicological conferences organized in Australia—the Centenary Conference. The University of Melbourne Physiotherapy Alumni Association was formed from the initial Friends of Physiotherapy group.

During 1995 an appraisal of the University Art Collections (excluding artworks in the Baillieu Library, Archives and Grainger Museum) was undertaken using a range of consultant appraisers. The Registrar and the Academic Registrar share responsibility for the administrative services of the University.

ARRINGTON FREDERICK BENHAM DANCE

Charges for access to University documents under the provisions of the Freedom of Information Act will be in accordance with the standard provisions of the Freedom of Information (Access Charges) Regulations 1993. The documents listed within this section cover University publications which include details of policies, operating procedures and/or guidelines that may have an effect or impact on members of the public in their dealings with the University. All documents listed may be inspected upon request to the Registrar, when not otherwise available in the University Book or other public places.

SUMMARY OF REGULATIONS The University administers the University Statutes and Regulations and Council Resolutions in accordance with the provisions of the University of Melbourne Act 1958. A copy of the Statutes, Regulations and Resolutions may be inspected in the University's Baillieu Library. All members, officers and employees of the University who are required to complete a declaration of pecuniary interests during the financial year in connection with their offices or employment at the University have done so.

The cost of bringing all buildings up to current standards far exceeds the university's financial costs. The University also holds an interest in the assets of Melbourne Business School Limited ACN at 200 Leicester Street, Carlton, Victoria, 3053. It has been the University's practice in the past to obtain certificates of occupancy for all projects valued at S500,000 and above.

The university will now obtain use permits in accordance with the guidelines as indicated above. Practitioners are required to provide proof of their registration in accordance with the 1993 Building Decree. vi) The number of practitioners deregistered while employed by the university None.

FINANCIALS

Total recurring expenditure of the combined University totaled $519,218 million, full details of which appear in the Income and Expenditure Statement for the year ended 31 December 1995. This represents the University's teaching, research and administrative activities, but excludes the activities carried out by its controlled entities are carried out. . The University General, which includes only the teaching and research activities, recorded a surplus before abnormal and extraordinary items of $17.379 million.

This was due to the university's increased income, together with tighter control over expenditure. The surplus was used to partially finance capital expenditure, while the rest of the funds were provided from the University's reserves. The University's activities are supported by funds from endowments, endowments and income earned on these funds.

A large portion of these trust funds is dedicated to providing scholarships and financing special purposes. Trust funds produced an operating surplus before unusual and extraordinary items of $10.238 million for the year. Income received during the year included $52.216 million in donations and bequests and $10.280 million earned in dividends and interest. These activities include activities related to the University, but are not part of the University's core activities of teaching, research or administration.

These are statutory bodies that are established by a special Act of Parliament or limited liability companies that are limited by guarantee. The activities of these entities are presented in the consolidated data of the united university.

SOURCES OF INCOME ($'000)

EXPENDITURES ($'000)

KEY RATIOS

Statement 3

CASH FLOWS FROM OPERATING ACTIVITIES Inflows

CONSOLIDATED (Inflows/Outflows)

UNIVERSITY (Inflows/Outflows)

Principles of Consolidation (continued) (5) CONTROLLED ENTITIES

The Victorian College of the Arts is a body politic and a company incorporated under the Victorian College of the Arts Act 1981. The University holds more than 50% of the voting rights in each of the above companies except Melbourne Business School Ltd. The University holds an interest in the assets of Melbourne Business School Ltd, so it is a dependent entity for the purposes of this report.

In accordance with the Australian Accounting Standards, the financial statements of each of the above controlled entities are included in the Consolidated Statements.

Non-Current Assets

The University has a policy of only recording as fixed assets furniture and equipment costing $5,000 or more. A sabbatical leave provision was initially introduced on 31 December 1989 to take into account the University's assessed liability on that date. This provision has been adjusted to reflect the University's liability as at 31 December 1995 as determined in accordance with new Australian Accounting Standard AAS30.

The adoption of the new accounting standard resulted in an initial correction, which represents a correction of the provision as of 12/31/1994 using the new standard. This adjustment, together with the adjustment applicable to long service leave, was recorded in the statement of income and expenses under the line "Correction arising from the adoption of the new accounting standard". The resulting change between the adjusted provision on 12/31/1994 and the provision on 12/31/1995 was booked as an expense in the current year's operations.

The provision for long service leave was initially introduced on December 31, 1989 to capture the determined liability of the university on that date, based on the provision for employees with more than ten years of service. The determined liability of the university with respect to personnel with more than four but less than ten years of service was stated in the 1993 notes on contingent liabilities through December 31, 1993. As of the year 1994, the university changed its calculation of the revised jubilee obligation to a calculation that took into account the established liability for all personnel with more than four years of service.

In the current year, the provision has been adjusted to reflect the University's liability at 31 December 1995 as determined under the new Australian Accounting Standard AAS30 and under which the University, with the exception of one of its controlled entities, has elected to retain a "shortcut" liability assessment method for the year 1995. The adoption of the new accounting standard resulted in an initial correction, which represents a correction of the provision on 12/31/1994 to.

Employee Entitlements (ii) LONG SERVICE LEAVE (continued)

Revenue Recognition

Foreign Currencies

COMMONWEALTH GOVERNMENT GRANTS The following Commonwealth government grants

HIGHER EDUCATION CONTRIBUTION SCHEME Higher Education Contribution Scheme revenue was

COMMONWEALTH RESEARCH GRANTS AND OTHER COMMONWEALTH FUNDING

VICTORIAN GOVERNMENT GRANTS State government grants were received during

INVESTMENT INCOME Investment Income is comprised of

FEES AND CHARGES

OTHER REVENUE Other revenue is made up of

EXPENSES ATTRIBUTED TO FUNCTIONS AND OTHER COSTS

  • Academic Activities Academic staff salaries

EXPENSES ATTRIBUTED TO FUNCTIONS

EXPENSES ATTRIBUTED TO FUNCTIONS AND OTHER COSTS (continued)

  • Other Operating Expenses

CONTRIBUTED CAPITAL TRANSFERRED

Investments originally bequeathed or donated to the University have been valued at their quoted value on the date of the bequest or donation. Market values ​​of listed securities per 31 December 1995 was obtained from the Melbourne Stock Exchange based on sale prices on the last banking day of the year.

INVENTORIES Finished Goods

OTHER (CURRENT) ASSETS Prepaid Expense

CREDITORS AND BORROWINGS

INCOME IN ADVANCE Commonwealth Government

PROVISIONS Employee Entitlements

EQUITY - CAPITAL Capital comprises

EQUITY - RESERVES Reserves at End of Year comprise

LEASE EXPENDITURE COMMITMENTS Operating Leases

CAPITAL EXPENDITURE COMMITMENTS At 31 December, 1995 estimated Capital Expenditure

CONTINGENT LIABILITIES

SUPERANNUATION COMMITMENTS

NOTIONAL SHARE OF SUPERANNUATION LIABILITY

Due to a lack of claims experience and to account for the degree of variability in estimated liabilities, the provision has not been adjusted and is maintained at the 1991 level of $3,253,000. The university operates in the field of education in Australia and provides teaching and research services.

CONSULTANTS

NOTES ON AND FORMATION OF PART OF FLNLAN CLEAR STATEMENTS (continued) .. BOARDS OF DIRECTORS AND MANAGEMENT REMUNERATION a) Remuneration of members of the council.

DIRECTORS AND EXECUTIVES REMUNERATION a) Remuneration of Members of Council

NOTES TO AND CONSTITUENT PART OF THE ACCOUNTS (continued) 34.. a) The names of each person who held the position of member of the Council during the financial year were:. Renard is a partner with the law firm Arthur Robinson & Hedderwicks, which provides certain legal services to the university.

THE UNIVERSITY OF MELBOURNE REVENUE AND EXPENSE STATEMENTS

UNIVERSITY OF MELBOURNE STATEMENT OF INCOME AND EXPENDITURE STATEMENT OF INCOME AND EXPENDITURE for the year ended 31 December, 1995.

THE UNIVERSITY OF MELBOURNE BALANCE SHEETS as at 31 December, 1995

In my opinion: a) the financial statements of the University of Melbourne fairly reflect the financial transactions of the University during the financial year ended 31 December 1995 and the financial position of its operations for the year ended on that date, and. b) the financial statements have been prepared in accordance with the Financial Management Act 1994 and the guidelines contained in the Directions of the Minister of Finance under the Financial Management Act 1994 issued by the Department of Treasury and Finance. In addition, at the date of signing these statements, I am not aware of any circumstances that would make any particulars included in the statements misleading or inaccurate. In our opinion: a) the financial statements of the University of Melbourne fairly reflect the financial transactions of the University during the financial year ended 31 December 1995 and the financial position of its operations for the year ended on that date, and.

In addition, at the date of signing these statements, we are not aware of any circumstances that would make any particulars included in the statements misleading or inaccurate. The accompanying financial statements of Melbourne University for the year ended 31 December 1995, consisting of income and expenditure statement, balance sheet, statement of cash flows and notes to and form part of the financial statements, have been audited. The financial statements include the consolidated accounts of the economic entity together with the University and its controlled entities as disclosed in note 1.2 to the financial statements.

An independent audit of the financial statements has been carried out to express an opinion thereon as required by the financial statements. These procedures have been carried out to form a conclusion as to whether the financial statements are presented fairly in all material respects in accordance with Australian Accounting Standards and other mandatory professional reporting requirements with the requirements of the FiTICINCiai Management Act 1994, so that p . The issued audit report on the accounts is drawn up on the above basis.

The audit was conducted in accordance with Australian Auditing Standards to provide reasonable assurance that the financial statements are free from material misstatement.

References

Related documents

Library Digitised Collections Author/s: University of Melbourne Title: University of Melbourne Calendar 1957 Date: 1957 Persistent Link: http://hdl.handle.net/11343/23448 Terms