ANNUAL REPORT 1988 (PART 2, - FINANCIAL STATEMENTS)
1. This statement should be read in conjunction with Note 13 of the 'Notes on the University's Published Financial Statesents'
25
8. MELBOURNE UNIVERSITY ONION
Statement of Income aad Expenditure for the Tear Ended 31 December 1988
1987
Rotes $ INCOME
Allocation from Amenities
1,909,099 Services Fund 1,990,591
39,305 Academic Dress - Sire 46,177
25,720 Amusement Machines 25,122
2,263,319 Catering 2,340,426
25,050 Cinema
31,895 Gallery 26,956
1,145 Games Room
2,352 Laundrette 3,232
1,200 Library
10,839 Locker Rental 11,911
55,564 Photocopiers 43,301
135,528 tent 177,240
1,065,299 Shop 190,046
43,761 Telephones 24,802
55,123 Theatre 62,195
8,452 Other Fees 11,525
1,820 Sundry Income 5,029 5,659,159
5,681,411
less EIPENDITURE
8,342 Academic Dress 6,686
2,437,426 150,257
Catering Depreciation
(11 2,474,123
169,355
78,108 Fuel, Light 4, Power 87,070
108,000 Grant - Child Care Services 114,000
92,319 Interest on Loans 72,469
42,115 Photocopiers 31,315
382,805 Repairs, Replacements i Insurance 288,137
Rowden White Library i Ewing Gallery
243,121 Administration 251,834
26,764 Book Purchases 44,165 295,999
- Bad i Doubtful Debts 2,922
125,543 Salaries & Associated Costs 668,412
961,534 Shop 799,268
42,360 Telephones 22,370
184,094 Theatre 169,998
142,314 Sundry Expenses 200,539
110,434 Activities Conaittee 5,402,183
5,735,656
(54,1851 Operating Surplus/(Deficitl for Tear 256,376
21,115 Extraordinary Items
(32,4701 Surplus/(Deficit) and Extraordinary Items for Year 256,376
2,627,169 Accumulated Funds at 1st January 2,591,931
Transfer from
3,232 Ewing Collection Reserve 1,020
2,591,931 Accumulated Funds at 31st December 2,855,321
26
8. MELBOURNE UNIVERSITY UNION Balance Sheet as at 31 December 1988 1981
$ Notes $ $ $ $
ACCUMULATED FUNDS AID RESERVES
2,597,931 Accumulated Funds 2,855,327
Reserves
103,000 Asset Revaluation [21
28,000 Gift Collection (21 -
200,000 Equipaent Replacement 200,000
96.911 Beilding Expansion 96,911
380,000 Graat:A.U.C. 380,000
3,581 Town & Gown Guild 3,587
1,020 Ewing Collection Conservation - 680,498
3,410,449
represented by:
3,535,825
ASSETS Current Assets
54,822 Cash at Bank 9,729
12,083 Prepayments 18,973
159,900 Stock on Band 155,813
Cash on Band 5,000
51,545 Sundry Debtors 57,757
(2,0781 Estiaated , Doubtfnl Debts (5,0001 52,151 242,272
Fixed Assets 1,281
131,000 Paintings L Photographs(cost & vain)
Gift Collection (at valuation) 121 1 .: 281
24,158 floods & Gowns (at cost) 24,258
(16,8761 Accumulated Depreciation (19,3021 4,956
1,184,763 Equipment i Fittings (cost & vain) 1,379,540
(673,7031 Accumulated Depreciation (819,3671 560,113
5,400,271 Buildings (at cost) 5,447,961
(1,571,5611 Accumulated Depreciation (1,699,9451 less LIABILITIES
3,748,016 4,314,426 4,556,698
Current Liabilities
'3,256 Deposits Held 10,101
33,095 Incase in Advance 36,110
252,686 Sundry Creditors 107,938 154,149
Deferred Liabilities
808,203 Building Loan 131 595,075
Provisions
99,895 Annual Leave 99,326
147,121 Long Service Leave 112,323 271,649 1,020,813
3,410,449 3,535,825
Notes:
1. The major components of Catering Expenditure are Cost of Goods Sold $938,912 and Salaries $1,100,894. the balance of expenditure was for general catering supplies.
2. the ownership of the Gift Collection reverted to the University in December, 1988.
3. Refer also to Notes 5 and 7 of the University's 'Notes on the Published Financial Statements'.
4. The operations of this body are to transfer, from the 3rd January, 1989, to the Melbourne University Students' Onion Incorporated and will no longer fora part of the University's published statements.
S. These Statements should be read in conjunction with Rote 13 of the University's 'Rotes on the Published Financial Statements'.
27
9. CRUD CARE SERVICES
Statement of Income and Expenditure for the Year Ended 31 December 1988
1987
Rotes
INCOME $ $ $
178,333 Fees 334,225
135,620 Grants - State Government 131,163
162,714 - University of Melbourne (11 209,555
108,000 - M.D.Union 114,001 460,719 794,944
684,667
less EXPENDITURE
580,278 Salaries 6 Associated Costs 634,901
7,028 Food 6,693
6,421 Laundry 7,687
5,792 Toys 4 Playground Equipment 6,194
2,539 Consumable Supplies 2,651
16,801 Cleaning 20,098
8,566 Repairs i Maintenance 5,190
49,083 Rent 61,001
516 Rates 605
14,265 Fuel 6 Power 8,482
4,152 Interest 2,845
6,696 Depreciation 6,826
42,185 Amortisation of Leasehold Improve 42,182
9,822 Otber 12,099 817,454
154,144
170,0771 Operating Surplus/(Deficit! for Year add Extraordinary Item:
(22,5101 28,019 Transfer of Fixed Assets - Onion
141,9981 Surplus/(Deficit) and Extraordinary Item for Year 122,5101
(83,0591 Accumulated Funds at 1 January (125,157)
(125,0571 Accumulated Funds at 31 December (147,5471
28
9. CHILD CARE SERVICES Balance Sheet as at 31 December 1988
1987
ACCUMULATED FUNDS 4 RESERVES 4125,0571 Accumulated Funds
Reserves
612,307 Capital Grant - University
487,250
Rotes $
4147,5671 612,317 464,741 represented by:
ASSETS Current Assets
- Cash at Bank 12,914
70 Advances 100
10,167 Prepayments 10,436
2,919 Sundry Debtors 25,525
41441 Estimated Doubtful Debts 45381 24,987
Fixed Assets fat Costl
34,139 Equipment 34,139
420,7391 Accumulated Depreciation 427,5651 6,574
48,437
727,879 Leasehold Improvements fat cost) 727,879
4174,2991 Accumulated Amortization 4216,4821 511,397 517,971 566,408
less LIABILITIES Current Liabilities
2,820 Income in Advance 40;196
5,319 Sundry Creditors 8,241 48,437
Deferred Liabilities
27,603 Loan 111
41,714 15,286 487,250
Provisions
Provision for Annual Leave
Provision for Long Service Leave 35,637
17,594 53,231 101,668
464,740
Notes:
1. Grants from the University of Melbourne are made up of the following:
- grant to write off the balance of the loan outstanding as at the 31st December, 1988
- grant to meet the working capital deficit as at the 31st December, 1988
19,469 190,086 209,555
2. These Statements should be read in conjunction with Note 13 of the University's 'Notes
on the Published Financial Statements'.
29
10. SPORT AND PHYSICAL RECREATION CENTRE
Statement of Income and Expenditure for the Year Ended 31 December 1988 1981
$ Motes $ $ $
INCOME
Allocation from Amenities i
859,426 Services Fund 940,696
Grants - University of Melbourne
- Salary 29,936
122,000 Maintenance 112,000
1,000 General 1,000 152,936
149,241 Membership Fees 151,909
29,955 Use of Facilities 111 149,254
7,865 Interest 6,574
59,939 Physical Recreation 111 60,314
&liniment L Locker Hire 29,189
20,924 Clubs 11,729
13,639 Australian University Championships 5,338
- Commission 17,065
159,123 Sundry Incase 111 38,336 1,624,040
1,423,112
less EIPENDITURE
541,256 Salaries L Associated Costs Ill 547,665
68,398 Administrative Expenses [11 69,050
71,233 Physical Recreation 67,482
173,836 Operating Costs of Facilities 218,655
205,050 Repairs L Maintenance 115,681
22,850 Grant to Sports Union 26,500
Grants to Outstations 3,933
40,017 Australian University Championships 34,759
Sports Clubs' Expenses:
49,311 Affiliation Fees 44,539
31,844 Coaching 43,077
96,195 Equipment L Consumables 104,964
21,301 Other 63,855 256,435
19,465 External Facilities 25,091
71,534 Depreciation 54,436
19,775 Other Expenses 111 8,689
Abnormal Item:
Prior Period Adjustment 131 28,135 1,456,517
1,444,065
120,9531 Operating Surplus/Deficitl for Year 167,523
Extraordinary Items
Insurance received for Air Hall 121 120,000
Write Off: Air Ball 121 161,5001 58,500
120,9531 Surplus/lDeficit1 for Year 226,023
461,528 Accunulated Funds at 1st January 446,575
446,515 Total Available for Appropriation
less transfers to Reserves 672,598
Major Maintenance Reserve 141 122,000
Air Ball Replacement Reserve 121 120,000
Coaputerisation Reserve (51 30,000 212,000
446,515 Accumulated Funds at 31st peceaber 400,598
30
Notes $
400,598 211,504
354,620 14,678 121
141 151
120,000 122,000
30,000 922,802 10. SPORT AID PHYSICAL RECREATION CENTRE
Balance Sheet as at 31 December 1988 1987
$
ACCUMULATED FUNDS AND RESERVES 446,575 Accumulated Funds
Reserves
Accumulated Capital Grants:
Government I Donations University of Melbourne Sports Union
Air Hall leplacesent Reserve Major Maintenance Reserve Computerization Reserve 211,504
354,620 14,678
1,897,377 1,323,400
represented by:
ASSETS Current Assets
31,593 Cash at Bad 402,690
95 Advances 110
1,105 Prepayments 2,832
22,985 Sundry Debtors 4,756
52,497 Investments
Fired Assets (at cost)
31,364 Furniture I Fittings 31,364
(12,545) Accusulated Depreciation (18,8181 12,546
173,560 Plant 6 Eguipneat 180,254
(33,1411 Accumulated Depreciation (50,6471 129,607
14,650 Motor Vehicle 14,650
15,6361 Accumulated Depreciation (8,566) 6,084 196,908 Grounds laprovesents 196,908
113,1271 Accumulated Depreciation (19,6911 177,217 1,010,285 Buildings
(149,5141 Accumulated Depreciation less LIABILITIES
Current Liabilities 5,210 InCone in Advance 46,484 Sundry Creditors
Deferred Liabilities 95,802 Debentures
Life Memberships
131 11,745
44,621 56,366
(61 15,488
131 24,840 100,328
410,458 35,710
121 830,285
121 (62,1781 768,107 1,093,561 1,539,729
Provisions
30,709 Provision for Annual Leave
52,497 Provision for Long Service Leave 23,925
35,710 59,635 216,329
1,197,377 1,323,400
31
10. Sport and Physical Recreation Centre
Motes to 1988 Accounts
1. During 1988 the Chart of Accounts was substantially revised. This has meant that for 1988 detailed comparisons with the previous year for some items of incoae and expenditure are not possible.
2. The Air Ball was destroyed in a wind stop during 1988. The written down book value of the Air Hall as at the date of destruction was written off and is shown as an Extraordinary
!tea. The insurance remittent has been set aside as a reserve for the replacement of the Ball.
3. In 1988 the Centre decided to change its accounting treatment of Life Membership incoae.
In a result of this decision a prior period adjustment of $18,135 was required to account for life membership fees received in prior years. The current portion of life membership fees is shown as part of income in advance 05,3201 with the balance shown as deferred liability l$14,8401.
4. A Major Maintenance Reserve was created for the first time from a grant received frog the University in 1988 for a five year maintenance programme.
5. A Computerisation Reserve was created in 1988 for completion of the Centre's computerisation programme in 1989.
6. The debentures represent the amount owed by SPREC to the University in respect of amounts borrowed by the University for SPREC buildings. The University's liabilitiy is shown in Statement 4 - 'Statement of Balances'.
7. These Statements should be read in conjunction with Note 13 of the 'Notes on the University's Published Financial Statements'.
32
11. SPORTS UNION
Statement of Income and Expenditure for the Year Ended 31 December 1988 1987
INCOME $ $
22,850 Grant-Sport k Physical Recreation Centre 26,500
995 Sundry Income 933
2,548 Blues Dinner less UPENDITURE
7,139 34,572 15,068 Subscriptions - AUSA 14,628
2,426 Administrative & Other Expenses 3,100
4,181 Blues Dinner 8,857 21,185
4,718 Surplus for Year 7,387
169,411 Accumulated Funds at 1 January 174,129
$174,129 Accumulated Funds at 31 December $181,516
Balance Sheet as at 31 December 1988
1987
$ $ $
$174,129 ACCUMULATED PONDS $181,516
170,127 28 7,320
represented by:
ASSETS Current Assets
Cash at Bank Sundry Debtors Stock on Band
175,967
6 B49 181,616 less LIABILITIES
Current Liabilities
3,346 Sundry Creditors 100
$114,129 $181,516
Notes
1. These Statements should be read in conjunction with note 13 of the 'Notes on the University's Published Accounts'.
33
yertimy CLINIC AND BOSPITAL
Statement of Incole and Expenditure for the Tear Ended 31 Decesber 1988 1987
$ Motes $ $ $
INCOME
1,482,405 Fees for Services Rendered 1,685,460 12,560 University 'Crossover Charges 13,417
365 Bad Debts Recovered 131 1,699,768
1,495,330
less EIPENOITURE Cost of Sales
199,678 Professional Salaries 300,591
236,586 Technical Salaries 272,185
38,878 Feedstuffs 46,043
372,712 Countable Supplies 419,251
17,536 Motor Vehicle Expenses 21,909 9,567 Depreciation - Motor Vehicles 16,108
2,029 Freight 1,789
2,431 Travelling Expenses 2,196
890 Fringe Benefits Tax 840 1,080,912
Other Expenses
195,206 Administration Salaries 210,020
14,149 Superannuation 36,512
37,444 Payroll Tax 46,181
8,459 Workcare 11,135
14,959 Long Service Leave 17,924
8,324 Recruitment i Staff Training 4,644 21,015 Printing 4 Stationery 16,298
1,560 Telephones 445
5,310 Postage 1,821
3,900 Audit Fees 4,500
206 Uniforms k Stores 1,343
29,618 Repairs i Maintenance 111 83,249
6,878 Legal Expenses 7,454
54,634 Depreciation - Plant i Equipment 56,530 1,882 Administration i Bank Charges 2,297
25,510 Bad I Doubtful Debts 38,964
Abnormal Item: Prior Period Adjustment
Adjustment 121 200,000 745,323 1,826,235 1,309,421
185,909 Operating Deficit for Year (126,4671
Extraordinary Items
3,911 Profit on Sale of Fixed Assets 27,358
189,880 Deficit for Year and Extraordinary Item (99,1091
537,172 Accusulatel '-gds at 1 January 491,652
Transfer from
Building Development Reserve 131 100,000 727,652 Total Available for Appropriation 498,543
Transfers to
100,000 Building Development Reserve 131 50,000 60,000 Equipment Replacement Reserve
70,000 Faculty of Veterinary Science (50,0001
497,652 Accumulated Funds at 31 December 448,543
34
12. VETERINARY CLINIC AND HOSPITAL Statement of Balances as at 31 December 1988
1987
Notes $ ACCUMULATED FUNDS 6 RESERVES
497,652 Accumulated Funds 448,543
Reserves
100,000 Building Development 131 50,000
60,000 Equipment Replacement 60,000 110,000
--- --- --- 657,652
represented by:
558,543
ASSETS Current Assets
203,888 Cash at Bank 170,008
340 Cash in Band 300
229,180 trade Debtors 312,369
(20,0001 Estimated Doubtful Debts (30,0001 282,369
3,718 Bork rn Progress 9,792
143,632 Stock (at cost) 148,234
2,762 Prepayments 2,450 613,153
Piled Assets (at cost!
64,639 Motor Vehicles 84,545
(15,9921 Accumulated Depreciation (14,9171 69,628
410,590 Plant 409,392
(181,6401 Accumulated Depreciation less LIABILITIES
(206,3741 203,018 272,646 885,799 Current Liabilities
Accrued Expenses 6,414
5,016 Income in Advance
79,818 Sundry Creditors 102,202
University Loan 121 100,000 208,676
Provisions
14,640 Provision for Annual Leave 36,665
63,991 Provision for Long Service Leave 81,915 118,580 327,256
651,652 558,543
Notes:
1. Repairs and Maintenance includes $41,838 spent on renovations to the waiting moo and reception area of the Clinic and Hospital.
2. In 1985 the University wade a loan of $200,000 available for facilities expansion.
3. The Building Development Reserve was created in 1981 to repay the University Loan for facilities expansion.
4. These Statements should be read in conjunction with note 13 of the 'Notes on the University's Published Financial Statements'.
35
13. STRATBFIELDSAYE ESTATE
Statement of Income and Expenditure for the Year Ended 31 December 1988 1987
Notes INCOME
Farm
12,928 Sheep - Trading 12,444
- Stock Increase 111 5,546
223,481 Wool 314,557
21,911 Cattle - Trading 14,362
- Stock Increase (11 1,306
4,796 Other 5,791 354,006
8,915 Homestead 9,511
35 Research Institute
2,380 Estate 363 363,880
274,452
less EXPENDITURE Farm
63,973 Salaries 4 Associated Costs 61,313
21,038 Shearing 27 , 509
19,743 Agents' Commission 35,161
31,052 Pastures 24,073
13,415 Fodder 10,857
955 Freight 3,123
6,632 Motor Vehicle Costs 11,494
411 Travel 651
10,311 Fuel i Oil 6,194
3,169 Electricity & Gas 4,819
13,504 Repairs 4 Maintenance 9,943
2,820 Administrative 2,294
18,987 Other 19,045 223,282
Bomestead
19,962 Salaries 4 Associated Costs 16,216
4,634 Electricity, Fuel i Gas 3,415
12,811 Repairs I Maintenance 5,586
1,449 Administrative 197
12,599 Rations i Stores 13,121
4,991 Other 2,334 41,529
Research Institute
Salaries 1,062
605 Other 439 1,501
Estate
1,900 Audit Fees 1,900
31,076 Depreciation 27,756
4,717 Rates 6 Taxes 6,023
Travel 1,279
3,587 Other 1,720 38,678 304,990
317,073
(42,6211 Operating Surplus/(Deficitl for Year add Extraordinary Item:
58,090 30,000 Capital Grant - Uni . of Melb
9,455 Write-back:Repairs 4 Maintenance 0
(3,1661 Surplus/(Deficitl and Extraordinary Items for Year 58,890
(162,961) Acconulated Funds at 1 January (206,2301
(166,1271 Total Available for Appropriation (147,3401
Transfers iron:
Part Estate Bequeathed to 0 of M 1,369
Transfers to:
(10,1031 (30,000)
Homestead Maintenance Reserve Accumulated Capital Grants Reserve
(8751
494
(106,2301 Accumdlated Funds at 31 December (146,840
36
13. STRATEFIELDSAYE ESTATE
Balance Sheet as at 31 December 1988
1981
$ Notes $ $ $ $
ACCUMULATED FUNDS AND RESERVES
(206,2301 Accumulated Funds (146,8461
Reserves
113,500 Accumulated Capital Grants 113,500
514,953 Part Estate Bequeathed to U of M 613,584
10,103 Bomestead Maintenance 10,918 798,062
592,326
represented by:
651,216
ASSETS Current Assets
3,000 Advances 3,000
101,710 Livestock Sheep 109,377
14,891 (at average cost) Cattle 16,197 125,514
1,705 Sundry Debtors 391 128,965
3,419 Investments 121 3,741
Fined Assets (at cost)
722,331 Land, Buildings i Improvements 722,333
(11,6881 Accumulated Depreciation (19,2191 103,114
189,240 Plant 6 Equipment 190,632
(89,9431 Accumulated Depreciation (109,0061 81,626
23,202 Furniture i Fittings 23,202
(2,3201 Accumulated Depreciation (3,4801 19,722
70,581 Motor Vehicles 70,581
(26,330) Accumulated Depreciation less LIABILITIES
(36,9171 33,664 838,126 970,832 Current Liabilities
371,568 Bank Overdraft 295,513
21,335 Sundry Creditors 14,173 309,686
Provisions
1,620 Provision for Annual Leave 1,909
6,949 Provision for Long Service Leave 8,021 9,930 319,616
592,326 651,216
Notes:
1. Stock increases includes natural increase and increase in the value of the stock.
2. This investment is also included in the University's Trust Account, Statement of Balances.
3. Property and Buildings Department expenditure totalling $4,375 in relation to Strathfieldsaye Estate has not been included in the above statement but is incorporated in 1 and 3 Combined Statement.
4. These statements should be read in conjunction with note 13 of the "Notes on the University's
Published Financial Statements'.
21-Nov-89 02:28 PM
C:k113kDATAkYEkSTENTS■13BSTRTB
37
14. GRADDATE SUICIDE, OP MANAGEMENT - ADVANCED MANAGEMENT EDUCATION
Statement of Income and Expenditure for the Year Ended 31 December 1988
1987
INCOME
S
810,437 10,713
Fees Other Income
916,606
9,615 926,221 029,150
less EIPENDITURE
81,056 Salaries i Associated Costs 134,391
321,750 Accosodation 368,670
141,340 Food Services 197,086
389 Teaching Aids & Supplies 7,422
17,121 Printing, Stationery & Duplicating 37,196
1,722 Travel 10,404
18,194 Marketing 8,500
6,835 Depreciation - Equipment 6,895
12,926 Other Expenditure 30,651 801,271
601,333
221,811 Surplus for Year 125,000
Extraordinary Item
Transfer to Graduate School of
11,250,0001 Management Foundation Ill (450,0001
(1,028,1831 Surplus/(Deficit] and Extraordinary Items (325,0001
1,335,740 Accumulated Funds at 1 January 301,557
307,557 Accumulated Funds at 31 December (17,4431
38
11.
GRADUATE SCBOOL OF MANAGEMENT - ADVAICED MANAGEMENT EDUCATIONStatement of Balances as at 31 December, 1988
1987 391,557
448,445
ACCUMULATED FUNDS re e reseated by:
ASSETS Current Assets
Cash at Bank
$ $ $
(17,4431
11,400 Sundry Debtors (21
18,003 Prepayments 121 9
Fixed Assets
34,813 Equipment (at costl 34,813
(14,9941 AccunOlated Depreciation less LIABILITIES
(21,8881 12,925 12,925 Current Liabilities
Bank Overdraft 21,386
34,960 Sundry Creditors 2,982
150,600 Income in Advance 121
-
30,368Provisions
4,550 Annual Leave 121 30,368
307,557 117,4431
Notes:
I. In 1987 the transfer of funds to the Graduate School of Management Foundation was shown in the Appropriation Statement. In 1988 this item is shown as an Extraordinary Item and for comparative purposes the 1987 figures have been altered to treat this transfer as it is treated in 1908. The Graduate School of Management Foundation is included in the University's Trust Account, Statement of Balances, Statement 5.
2. The responsibility for the activities of the Graduate School of Management - Advanced Management Education will be transferred to the Melbourne Business School Limited from the 1st January, 1989.
3. These statements should be read in conjunction with note 13 of the 'Notes on the University's Published Financial Statements'.
39
15. GRADUATE SCHOOL OF MANAGEMENT - RESIDENTIAL DOUSE
Statement of Intone and Expenditure for the Year Ended 31 Deceaber 1988
1987
$ INCOME
883,130 Hire of Facilities (Courses) 1,070,412
9,622 Functions 2,972
26,884 Catering 48,795
46,608 Sundry Income 194,088 1,316,267
966,244
less EXPENDITURE
154,989 Salaries i Associated Costs 225,938
101,121 Food 121,258
44,674 Cleaning 61,237
2,615 Laundry 8,938
4,918 Advertising 233
417 Aire of Equipment 40
47,532 Fuel i Power 58,190
11,755 Telephone 2,261
3,468 Rates 2,506
9,107 Repairs 6 Maintenance 32,600
11,009 Equipment Replacement 3,299
18,188 Sundry Expenses 16,801
Abnormal [tea: Building Project [11 41,305 580,606 416,393
549,851 Surplus for Year 735,661
Extraordinary Item
Transfer to Graduate School of
Management Foundation 121 (550,0001
549,851 Surplus for Year and Extraordinary Item 185,661
77,329 Accumulated Funds at 1st January 627,180
627,180 Accumulated Funds at 31st December 812,841
40
15. GRADUATE SCBOOL OP MANAGEMENT - RESIDENTIAL BOISE Statement of Balances as at 31 December, 1988
$ $ $ $
627,180 ACCUMULATED PONDS
812,841 represented by:
ASSETS Current Assets
533,833 3,872 Cash at Bank Advances 131 806,287
6,266 Stock on Band
7,336
Prepayments 2,136
126,063 Sundry Debtors 65,689 881,448
less LIABILITIES Current Liabilities
24,216 Sundry Creditors 64,262
15,950 Income In Advance 131 - 64,262
Provisions
1,184 904 Annual Leave Long Service Leave 3,063 1,282 4,345 68,607 627,180
812,841 Notes
1. During 1988 the Graduate School of Management - Residential Boise transferred $41,305 to the Graduate School of Management Building Project.
2. The Graduate School of Management Foundation is included in the University's Trust Account, Statement of Balances, Statement 5.
3. The responsibility for the activities of the Graduate School of Management - Residential Souse will be transferred to the Melbourne Business School Limited from the 1st January, 1989.
4. These statements should be read in conjunction with note 13 of the 'Notes on the University's Published Financial Statements'.
41
16. MELBOURNE THEATRE COMPANY
Statement of Income and Expenditure for the Year Ended 31 December 1988
1987
$ Notes $ $
INCOME
4,060,110 Box Office Receipts 3,603,455
437,154 Booking Fees 405,224
16,829 Kiosk Surplus 12,468
243,171 Fund Raising 199,579
84,173 Interest Received 35,392
224,348 Other Income 423,618
1,303,100 Grants 1,247,620 5,927,416
6,370,085
less EXPENDITURE
3,237,173 Salaries i Associated Costs 3,685,328
20,000 Provision for Superannuation -
196,332 Show Production 257,691
352,230 Royalties I. Commissions 315,924
391,221 Production 365,765
1,035,041 Theatre Costs 1,022,482
612,833 Sales i Promotion 612,528
165,466 Administrative 344,419
118,895 Depreciation 133,782
41,526 Fund Raising 15,568
170,000 Provision for Maintenance - 6,753,493
6,346,717
23,368 Operating Surplus/(Deficit) for Year (826,077)
Extraordinary Item:
Write-back of Provision for Maintenance (II 200,000
23,368 Surplus/(Deficit) for Year and Extraordinary Items (626,0771
(1,2401 Accumulated Funds at 1 January 22,128
22,128 Accumulated Funds at 31 December (603,949)
42
16. MELBOURNE THEATRE COMPANY Balance Sheet as at 31 December 1988 1981
Rotes $ ACCUMULATED FUNDS AND RESERVES
22,128 Accomnlated Funds (603,9491
Reserves
2,317,806 Revaluation Reserve 1,365,410
50,000 Theatre Premises i General Bolding Account 50,000
1,000,000 State Government Capital Grant 1,000,000 3,415,410
3,389,934
represented by:
1,811,461
ASSETS Current Assets
7,085 Cash on Band 7,525
1,260 Advances 1,261
5,413 Stock on Band 7,010
101,049 Prepayments 216,014
30,549 Accrued Income 35,392
82,837 Sundry Debtors 134,408 401,670
Investments
223,208 MTC Public Support Fund 272,688
Fixed Assets
57,306 Furniture i Fittings (at cost) 58,604
(20,5551 Accumulated Depreciation (24,830) 33,114
26,425 Motor Vehicles (at cost) 59,941
(17,2141 Accumulated Depreciation (14,8311 35,110
Plant i Equipnent (at cost i
673,246 Director's Valuation) 755,005
(301,3791 Accumulated Depreciation (364,4161 390,589 Freehold Building i Improvements
2,942,604 (at 1985 Valuation) 2,942,604
(176,5511 Accumulated Depreciation (235,4031 2,101,201
722,000 Freehold Land (at 1985 Valuation) 722,000
1,300,000 Freehold Property (21
less LIABILITIES
1,300,000 5,188,674 5,863,032 Current Liabilities
1,049,685 Bank Overdraft 1,935,508
686,259 Income in Advance 628,151
69,216 Accrued Expenditure 96,011
145,609 Sundry Creditors 267,208 2,921,484
Provisions
39,180 Provision for Annual Leave 48,285
57,400 Provision for Long Service Leave 75,802
200,000 Provision for Maintenance 111 -
20,000 Provision for Superannuation 124,087 3,051,571
3,389,934 2,811,461
Rotes
1. The Provision for Maintenance was written back in 1988 as the provision was not in accordance with accounting standards.
2. Freehold property in Russell Street Melbourne was purchased in 1981 for $1.32.
It is considered that the $1.32 represents land value only.
3. These statements should be read in conjunction with Note 13 of the 'Rotes on the University's Published Financial Statenente.