STUDENT STATISTICS
STATEMENT 1 Page 2
AUXILIARY OPERATIONS
$'000
SURPLUS (DEFICIT) BROUGHT FORWARD 33,956 :: 23,914 11,105 (1,063)
RETAINED SURPLUS AT 1 JANUARY 1989 22,372 :: 15,379 6,993
INTERFUND TRANSFERS 8 (5,132) 5,132
56,328 :: 34,161 16,237 5,930
II If
ADD
INITIAL RECOGNITION OF INVENTORIES 1.5 2,281 2,281 DEDUCT
CREATION OF PROVISION FOR
EMPLOYEE ENTITLEMENTS 1.6 32,094 :: 32,094 ..
AVAILABLE FOR APPROPRIATION 26,515 :: 4,348 16,237 5,930
TRANSFERS TO RESERVES: ..
-FUNDS HELD FOR RESTRICTED
PURPOSES :: 13,063 :: 13,063
-FUNDS HELD IN PERPETUITY 10 3,174 :: 3,174
-RESERVES 1,728 :: 1,728
RETAINED SURPLUS AT 31 DECEMBER 1989 $8,550 :: $4,348 $4,202
The accompanying notes form part of these financial statements
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THE UNIVERSITY OF MEL2OURNE BALANCE SHEET
AS AT 31 DECEMBER,1989 STATEMENT 2
Page 1 NOTES CONSOLIDATED :: UNIVERSITY TRUST AUXILIARY
GENERAL OPERATIONS
$ 1 000 $ 1 000 $ 1 000 $ 1 000
EQUITY CAPITAL
Contributed Capital 9 13,314 9,241 4,073
Funds Held in Perpetuity 10 58,918 58,918
Funds Held for Restricted Purposes 11 45,544 :: 45,544
RESERVES
Asset Revaluation Reserve 2,366 :: 2,366
Special Purposes Reserve 12 2,330 :: 2,330
RETAINED SURPLUS 8,550 :: 4,348 4,202
TOTAL EQUITY 131,022 :: 13,589 104,462 12,971
I I
CURRENT LIABILITIES I I I I
I I I
Bank Overdraft 2,808 :: 2,094 2,736
Income in Advance 1.7 32,990 :: 31,635 1,355
Sundry Creditors and Accruals 17,544 :: 15,548 787 1,209
Provision for Employee Entitlements 15 32,619 :: 32,094 525
Loans 14 111 :: 98 48 129
TOTAL CURRENT LIABILITIES 86,132 :: 81,469 3,571 3,218
NON-CURRENT LIABILITIES
Loans 14 494 :: 322 145 27
Other 23 :: 23
TOTAL NCN-CURRENT LIABILITIES 517 :: 322 145 50
TOTAL EQUITY AND LIABILITIES $217,671 :: $95,380 $108,178 $16,239
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THE UNIVERSITY OF MELBOURNE BALANCE SHEET
AS AT 31 DECEMBER,1989 STATEMENT 2
Page 2
CURRENT ASSETS
NOTES CONSOLIDATED ::
, , , ,
$'000 ::
.,
UNIVERSITY GENERAL
$'000
TRUST
$'000
AUXILIARY OPERATIONS
$'000
Cash on Hand and at Bank , ,
, , 2,022
Inventories 1.5 2,733 :: 2,281 452
Sundry Debtors and Accruals 16 15,095 :: 10,039 3,190 1,866
Prepayments 2,443 :: 2,067 376
Investments 13 119,813 :: 69,485 48,856 1,472
TOTAL CURRENT ASSETS 140,084 :: 83,872 52,046 6,188
IS
NON-CURRENT ASSETS
Freehold Land 1.3 2,022 :: 2,022
Buildings 1.3 10,639 4,090 148 6,401
Accumulated Depreciation (689)::
(689)
Equipment 1.3 10,502
8,309 2,193
Accumulated Depreciation (2,06811:
(995) (1,073)
Loans and Advances 848
104
848Investments 13 56,333 :: 55,984 349
TOTAL NON-CURRENT ASSETS 77,587 11,508 56,132 10,051
TOTAL ASSETS $217,671 $95,381 $108,178 $16,239
The accompanying notes for part of these financial statements.
— 6 —
F7A7=?.EN7 )F SUES AND APPLICKINS F7NDS
For nne 7ear .r.ded 21 Dece:ber. F?ATEMENT 3
Fis Fro: Operations
Inflows of funds from operations Outflows of funds from operations Extraordinary Items
Contributed Capital Decrease in Assets
Inventories
Increase in Liabilities Current Liabilities
Sundry Creditors and Accruals Income In Advance .
TOTAL SOURCES OF FUNDS APPLICATIONS OF FUNDS Increase in Assets Current Assets
Investments
Sundry Debtors & Accruals Prepayments
Non-Current Assets Buildings and Equipment Investments
Decrease in Liabilities Current Liabilities
Loans
Reduction in Overdraft TOTAL APPLICATIONS OF FINDS
NOTES
17.1
283,506 248,538
54,410 5,575 494
9,545 4,286
.989
34,968 752 11,451 11
7,769 29,826
$84,777
60,479
13,831
880 9,587
$84,777 The acco:panyiy,! notes for: part of these financial statements.
— 7 —
THE IJNDERSITY OF MELBOURNE
()`;SCIi7JATED S7rE!".ENT OF CHANGES IN EQUITY STATEMENT 4 For tne year ended 31 December, 19i9
Funds Held Retained
Asset SPecial for Surplus/ Funds Held Contributed Revaluation Purposes Restricted Accumulated in Consolidated Capital Reserve Reserve Purposes Deficit Perpetuity
$ 1 000 $ 1 000 $ 1 000 $ 1 000 $ 1 000 $ 1 000 $ 1 000 Balance Beginning of Year 115,428 3,100 2,366 1,282 32,481 22,372 53,827
Surplus for Year 33,956 33,956
Capital Receipts 11,451 10,214 (680) 1,917
(see note 9)
Transfers between Reserves 1,728 (1,728)
Transfer to Funds for
Restricted Purposes 13,063 (13,063)
Transfer to Funds Held in (3,174) 3,174
Perpetuity
Employee Entitlements (32,094) (32,094)
Inventories at End 2,281 2,281
Balance End of Year 131,022 13,314 2,366 2,330 45,544 8,550 58,918
The accompanying notes form part of these financial statements.
— 8 —
YiELSCURE UNIVERS:TY cRESS Statelent 5
?age Revenue and Expe-, se for :re Year Ended 30 So:elber, 1989
1988 1989
$ $ $
REVENUE Sales
1,162,057 Publi:ations 1,016,766
4,097,072 Bookroom 4,855,110
5,871,876
(68,013) Trade & Retail. Transfers (69,346) 5,802,530
70,110 Contributions - Publications 28,803
10,460 Sale of Rights, etc.- Publications 8,934
1,338 Recovery of Bad Debts -
Miegunyah Income ' 245,000
263,412 Interest on Investments 295,097
(1,119) Profiti(Loss) on Sale of Fixed Assets 1,390 5,535,317
less OPERATING EXPENSES
6,381,754 Cost of Goods Sold
499,737 Publications 511,105
2,921,051 Bookroom 3,414,553
3,925,658
(63,263) Trade & Retail Transfers (65,107) 3,860,551 Salaries & Associated Costs
402,140 Publications 438,326
851,772 Bockroom 939,894 1,378,220
Sellin9, Administration & Other
502,174 Publications 443,822
241,079 Bookroon 290,009
733,831
(4,750) Trade & Retail Transfers (4,239) 729,592 Write Back of Provision
for Inventory Mark Down (5,000) 5.963,363
5,349,940
185,377 Operating Surplus for Year 418,391
2,273,595 Retained Surplus at 1 October, 1988 2,340,662
Transfers from Reserves 4,715 Export Development Reserve
2,463,687 AvailaYe for Appropriation 2,759,053
Transfers to Reserves (119,988)
(3,037)
Cash Fanning Irvestment Reserve Miegunyah Trust Reserve
131.752
3,384 135,136
$2,340,662 Reta'ned Lrplus at 30 September, 1989 $2,i23,917
E3OURNE Statement :Ace 2
Balance Sheet as at 30 September 1989
1988
dotes $
1;a'9 RFTAINED SURPLUS AND RESERVES
2,340,662 Retained Surplus 2,623,917
Reserves
13,422 Export Development Reserve 13,422
1,044,269 Cash Planning Invest Reserve F. 1,176,021
26,047 Miegunyah Trust Reserve Fund 29,431 1,218,874
$3,424,400 $3,842,791
Represented by:
ASSETS Current Assets
8,155 Cash on Hand & at Bank 8,130
196,846 Sundry Debtors 299,728
(5,000) Provision for Doubtful Debts (5,000) 294,728
2,582 Prepayments 13,722
172,346 Accrued Income 174,475
1,644,684 Inventory (at valuation) 1,733,994 2,225,049 Investments
1,000,000 Current Account 950,000
1,044,269 Cash Planning 1,176,021
26,047 Miegunyah Trust 29,431 2,155,452
Non-Current Assets (at cost)
9,762 Advances for Future Manuscripts 14,673
Fixed Assets
313,223 Furniture, Equipment & Improvements 354,504
(114,673) Accumulated Depreciation (155,898) 198,606 254,238 Leasehold Improvements 265,341
(44,908) Accumulated Amortization less LIABILITIES
(58,685) 206,656 405,262 4,800,436 Current Liabilities
182,990 Bank Overdraft 172,675
562,178 Sundry Creditors 554,258
31,867 Income in Advance 14,301 741,23i
Provisions
140,923 Provision for Annual Leave 100,042 135,213 Provision for Long Service Leave 91,369 .
30,000 Provision for Inventory Markdowns 25,000 216,411 957,645
$3,424,400 $3,842,791
Notes:
1. Refer to Note 20
2. Details of Lease Expenditure Commitments:
OPERATING LEASES
Not later than one year 40,893
Later than one year and not later than two veers 40,893 Later than two years and not later than five years 122,680
Later than five years 408,930
$613,396
— 10 —
Sta:e7e-:
oace F es an: 1 :[...•ins
Tyr t - e Yeer EndaO 3: September, 1938
$
5,535,317 (5,310,532)
224,785 1,662 140,789 1,030 205,266
$5/3,532
SOURCES OF FUNDS Funds from Operations
Outflows of Funds from Operations Inflows of Funds from Operations
(5,998,086) 6,381,754
Reductions in Assets 383,668
Current Assets Prepayments
Cash on Hand and at Bank 25
Sundry Debtors Non-Current Assets
Advances for Future Manuscripts Increase in Liabilities
Current Liabilities Bank Overdraft
TOTAL SOURCES OF FUNDS $383,693
APPLICATIONS OF FUNDS Increase in Assets Current Assets
23,025 Investments 85,136
346,037 Inventory 89,31'
Sundry Debtors 105,011
Prepayments 11,140
Non-Current Assets Furniture, Equipment and
114,368 Leasehold Improvements 52,384
Advances for Future Manuscripts 4,911 Decrease in Liabilities
Current Liabilities
Bank Overdraft 10,315
66,538 Sundry Creditors & Accruals 7,920
23,564 Income In Advance 17,566
$573,532 TOTAL APPLICATIONS OF FUNDS $383,693 Reconciliation of Funds from Operations
185,377 Operating Surplus Add back
43,227 Depreciation & Amortisation (3,819) Provision for Leave
Provision for inventory r''<dc ,,n
418.391 55,002 (84,725)
(5,000)
$224,785 Net Funds from Operations $333,658
—11 —
STAFF SUPF.RANNUA7ION 1986) FUND Statelen: 6 oa?e Revenue and Excense Statemer: =or :le Year Fnded 31 December, 1989
1968
REVENUE Contributions
1989
105,288 University 89,945
45,914 Members 42,229 132,174
Interest & Dividends
4,008,611 On Investments 4,682,626
154,343 Rent Received-Freehold Property 187,001
1,974,014 Gain on Sales of Investments 1,213,459 6,215,260 6,288,170
less OPERATING EXPENSES Benefits
3,352,999 Pensions Paid & Accrued 3,437,241 5,653 Payment in Lieu of Deferred Pension
78,307 Pensions Commuted 134,708
41,891 Payments on Resignation 63,101 3,635,050 Property Expenses
39,500 Depreciation 39,500
600 Other 39,500
Administration Charges
39,524 Superannuation Office 42,238
25,636 Actuarial Fees 2,091
40,556 Audit & Accounting Charges (11 108,603
- Interest (11 32,450
2,250 Legal Fees -
3,095 Other 1,781 187,163 3,861,713
3,630,011
2,658,159 Surplus for Period 2,353,547
43,968,604 Retained Surplus at 1 January, 1989 46,626,763
$46,626,763 Retained Surplus at 31 December, 1989 V8,980,310
— 12 —
STAFF SUPFRANNUATION 193, 6 Statement 6
page 2 Balance Sheet as at 31 Decemse- 193?
1938
1939
$46,626,763 RETAINED SURPLUS represented by:
ASSETS Current Assets 33,201 Cash at Bank 660,179 Accrued Interest
$48,980,310
790,457 790,457 12,143,380
30,748,014 1,950,000
Investments
Government Securities (21 Company Ordinary Shares & Convert-
ible Notes [3)
Fixed Deposits - Bank Term Deposits
13,859,767 32,739,533
500,000 47,099,300
1,580,000 (362,710)
125,301
Non-Current Assets Freehold Property
Freehold Property (at cost) [4) 1,580,000
Accumulated Depreciation (402,210) 1,177,790 48,277,090 49,067,547 less LIABILITIES
Current Liabilities
Bank Overdraft 78,643
Sundry Creditors 8,594 87,237
$46,626,763 $48,980,310
Notes:
1. In 1939 the University introduced a policy of charging all semil-autonmous bodies for accounting services provided and of paying or cnarging interest on cash balarces. The charge for accounting services replaces part of the salary formerly charged to the Staff Superannuation(1986) Fund.
2. Market value at 31/12/89: $15,218,800.
3. Market value at 31/12/89: $48,567,558.
4. Market Value at 31/12/89: $1,754,000.
5. Actuarial investigation of the Staff Superannuation (1986) F'..:nd is carried out at intervals not exceeding three years. The last investigation as at 31 Decerber 1987 showed a thenpresent value of future benefits payable to members of $35,130,800 and market value of the fund's assets totalled $52,392,000.
— 13 —
STAFF SUPERAANUATHJN :1986) iJr4D Statelleflt oage
Stateoen: of Sources and Ploolcations of =, rds for the Year Enced 31 Deceoper, 1989
1988
$
SOURCES OF FUNDS Funds from Operations
1989
$
6,288,170 Inflows of Funds from Operations 6,215,260 (3,590,511) Outflows of Funds from Operations (3,822,213)
2,697,659 2,393,047
Decrease In Current Assets 36,990 Cash
Increase in Current Liabilities
Bank Overdraft 111,844
110,129 Sundry Creditors
$2,844,778 TOTAL SOURCES OF FUNDS
$2,504,891
APPLICATIONS OF FUNDS Increase in Current Assets
2,808,790 Investments 2,257,906
35,988 Sundry Debtors 130,278
Decrease in Current Liabilities
Sundry Creditors 116,707
$2,844,778 TOTAL APPLICATIONS OF FUNDS $2,504,891
Reconciliation of Funds from Operations
2,658,159 Surplus for Period 2,353,547
39,500 Add back Depreciation 39,500
$2,697,659 Funds from Operations $2,393,047
14
STATEMENT 7