A copy of Blueprint 3 can be obtained at qut.edu.au/about/the-university/blueprint-for-the-future. In line with government objectives, QUT is committed to maintaining the financial viability of the university by achieving an appropriate underlying budget surplus. The university's governing body is the QUT Council and its chief executive officer is the vice-chancellor.
The QUT Governance Framework describes how the structures, policies and practices of the university are integrated, and details the respective roles of the Council and. QUT's committee structure creates numerous opportunities for community involvement in the university's functioning and policy direction. The university's governing body, QUT Council, includes members of the general community, graduates, staff and students.
The University's Risk Management Framework provides detailed guidelines for the application of the risk management process, the roles and responsibilities of key stakeholders, the level of documentation and reporting requirements. The new Faculty of Science and Engineering was the home faculty for the largest number of HDR students at QUT, with 42 per cent of the university's HDR students.
More funding was provided for bursaries and better facilities, and by November 2012 the number of HDR students had risen to more than 2,150. QUT received its highest ever number of applications for HDR bursaries (854), an increase of 27 per cent on the previous year. . More than half of the grant applications concerned science and technology disciplines, followed by 22 percent for healthcare, 10 percent for the creative industries and nine percent for business.
A particular aim of the Blueprint is for QUT to maintain a position in the top quartile of Australian universities for graduate employment outcomes. In addition, two of the 15 ARC Discovery Grants awarded nationally in education went to QUT, placing the university second nationally. In the 2012 round, QUT was involved in five CRC bids that have reached stage two of the application process.
In September, the Business Leaders Forum hosted Steve Wozniak "The Woz", co-founder of Apple Computer Inc and Chief Scientist of Fusion-io, as a keynote speaker. QUT's intercampus bus service was highly rated in the International Student Barometer survey, coming second out of 33. Items included in the financial statements of each of the consolidated entities are measured using the currency of the primary economic environment in which the entity operates (functional currency).
The cost price includes direct material costs, direct labor costs and other costs directly attributable to the purchase of the item. Most of the consolidated entity's land is reserved for educational purposes under the Land Act 1994 (Queensland). However, if the increase reverses a decrease previously recognized in the income statement, the increase is first recognized in the income statement in the amount of the original decrease.
Increases in the accounting value as a result of revaluation of the art collection are recognized in the revaluation reserve in other comprehensive income. These amounts represent obligations for goods and services provided to the consolidated entity before the end of the accounting year that are unpaid. Any difference between the proceeds (minus transaction costs) and the redemption amount is recognized in the income statement over the loan period using the effective interest method.
DVC, Corporate Programs & Partnerships is responsible to the Vice-Chancellor for leading the growth of the University's corporate education. QUT's application of this standard will not affect any of the amounts recognized in the financial statements. The above figures are reconciled to cash and cash equivalents at the end of the year as shown in the cash flow statement as follows:
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December 2011
December 2012
Queensland University of Technology Notes to financial statements 31 December 2012 (continued) 21 Trade and other payables. Due to the short-term nature of current trade payables, the carrying amount is assumed to approximate fair value. The increase in 2012 estimated expenses is attributable to the inclusion of final commitments for the Science and Engineering Center in the millions (2011: recorded in the note of commitments) and an increase in accruals for undeclared agent commissions in the millions.
Other creditors declined as center management of the Sustainable Built Environment National Research Center will be transferred to Curtin University in 2013. The Queensland Government has loaned a total of $64.63 million through the Smart State Research Facilities Fund and the Innovation Building Fund for the construction of: the Institute for Health and Biomedical Innovation (IHBI) $22.5 million;. All Smart State Research Facility Fund loans have been received in full and the only remaining Innovation Building Fund loan is the Science and Technology area, with a remaining $5 million to be received in 2013.
The University has received approval to borrow a total of $125 million from the Queensland Treasury Corporation (QTC) for the following infrastructure projects; $78 million to fund part of the construction costs of the Science and Technology Precinct and $47 million to fund part of the construction costs of the Creative Industries Precinct - Phase II. Progressive withdrawals on the Science and Technology Area loan began in 2012 (March $20 million, April $20 million and May $20 million amounting to $60 million with a weighted average rate of 5.03%). The approved loans for the Creative Industries Precinct of $47 million will be withdrawn over 2013 and 2014.
The university can also seek approval for an additional $20 million for the construction of Creative Industries – Phase II, in 2013. Under the government loan program, the university can access a working capital loan of $11.5 million through QTC. The working capital loan facility, a temporary overdraft (limit of maximum 30 days) used for cash flow management, was not used in 2012.
Details of the University's exposure to changes in interest rates for interest-bearing liabilities are set out in financial risk management (refer to note 34). Details of the fair value of liabilities with interest to the University are set out in financial risk management (refer to note 34). The University has no assets pledged as security for current interest-bearing obligations.
Student Services and Amenities Fee
Pdl professional development Exit PdP professional development program PPr performance planning and assessment Qao Queensland Audit Office QBs qualifications based selection Qeh QUT Enterprise Holdings Qtac Queensland Tertiary Admissions Centre. Qut Queensland University of Technology saP Sessional Academic Program sas Sessional Academic Success scad Sessional Career Advancement Development. Other members include the University of Technology Sydney, RMIT University, the University of South Australia and Curtin University of Technology.
In addition to two Cooperative Research Centres, Wound Management Innovation and Integrated Engineering Asset Management, based at QUT, the university participates in a further nine CRCs: Automotive Australia 2020; Defense equipment technology; Optimizing resource extraction;
Queensland University of Technology Brisbane Australia
