The University's Biosafety Committee ensures that relevant activities comply with the requirements of the National Gene Technology Regulator. QUT's committee structure creates numerous opportunities for community involvement in the functioning and policy direction of the university.
In 2010, the First Year Experience Program continued to improve student success and retention through its key strategies, one of which is the Student Success Program. Of the 69 courses identified as underperforming, 24 were discontinued; and the number of transnational courses offered was reduced with two ongoing courses remaining.
A review of support for professional development (learning and teaching) for admissions staff at QUT (2010) was undertaken by the Teaching Quality Office in collaboration with the Deputy Vice-Chancellor (Academic). The $1 million nIrAP grant will fund the establishment of the Queensland-Canada Spinal Cord Injury Alliance.
Impact. Qut research and development will systematically translate into high value-adding
QUT recorded the second highest rate of growth in research income in the sector, and significantly better than most of QUT's closest competitors. Accounting student Jeremy Baldwin won first prize in the national CPA Big Break project competition.
Two Faculty of Health higher degree research (HDR) students were successful in their nomination for a QUT Outstanding Doctoral Thesis Award (ODTA). The Faculty of Business has continued with the implementation of Assurance of Learning (AoL) in undergraduate, postgraduate and research programs.
Qut successfully launched a new online staff recruitment system, recruiting and renewing its employer forces with "respect, rewards, relevance" to maximize the ability to target, attract, effectively respond to and appoint quality candidates. This conference was attended by 328 professional staff, academics and students from across Australia and 10 other countries (including 55 delegates from China).
Leadership and management Leadership
The percentage of senior women continued to increase, rising slightly in 2010 to 36.2 percent against the 2010 target of 38 percent. Eighteen Vice-Chancellor's Excellence Awards (with a total value of $205,000) were presented to staff across individual and team academic, professional and senior staff categories.
The OP breakdown illustrates some outstanding results, reflected in a 62% and 61% increase in OP1 and OP2 students respectively since 2009. Alumni Service Awards – Two Alumni Service Awards were presented at the October 2010 Student Volunteer Reception. University and alumni community for many years.
Two nominations for Young Queenslander of the Year: Alissa Phillips in 2010 and Michael D'Onofrio in 2011. An online Code of Conduct module is being developed to guide all staff and visitors in making ethical decisions and acting in accordance with QUT's expectations of responsible behaviour.
An online web-based 'Welcome to QUT' orientation module was introduced to support the face-to-face 'Welcome to QUT' morning tea and exhibition sessions. In 2010, an 'Applied Skills for Year 11s' pilot program was trialled in four low SES schools in the Caboolture region.
Partnership and Engagement
Institute for Health and Biomedical Innovation (IhBI) Dr. Mick Adams (2010 Chancellor's Outstanding Alumnus Award recipient) began as Indigenous Coordinator for the Palliative Approach Experience Program at IHBI. Dr. Adams will provide expertise and advice to ensure all Australian communities have adequate access to culturally appropriate end-of-life care through the program.
The QUT Innovation Space, an entrepreneurial learning space where students develop real-world skills in turning initial conceptual ideas into products of the future, was officially launched in July. Qut began construction of the science and technology area and community center at Gardens Point, which involved demolishing three buildings and relocating staff and facilities to other locations on campus.
Building and renovation projects at Gardens Point included the A Block renovation, the O Block workshop upgrade, the S Block student learning space, the S Block faculty residence, the U Block renovation, the Z Block student area improvements, and the V Block Library upgrade.
QUT's financial position remains strong and provides a very solid basis for supporting the university's short- and long-term development wishes.
Infrastructure (Physical and Virtual): Qut will be characterised by an integrated infrastructure
Undergraduate and postgraduate enrollments in FPOS accounted for 56.5 percent and 42 percent of FPOS enrollments, respectively. The center provides testing services for the IELTS English language exams managed jointly by IELTS Australia, the British Council and Cambridge ESOL.
A global outlook
Undergraduate and graduate FPOS enrollments accounted for 56.5 percent and 42 percent of FPOS student enrollments, respectively. Enrollment of international HDR students increased to 578 (as of September 19, 2010), which is approximately a 20 percent increase on 2009.
The Faculty of Health's Language and Development Program continued to provide training and development to the faculty's international HDR students. The Faculty is the Australian lead institution in a consortium of three Australian and three European universities.
Antony Smare, a graduate of the Faculty of Law of Papua New Guinea, has been awarded the joint 2010 QUT Outstanding Young Alumnus Award. The implementation of the student and academic management system (sAms) in November significantly expanded the University's virtual capabilities for students, academics and administrators.
Build our research in selected areas
The Information Technology Strategy 2011-2013 will guide the directions and priorities of the University's information technology over the next three years. The University's ePrints repository has also seen growth, with the number of records exceeding 28,000, more than double the number in 2008.
The collection of e-journals increased by 17 percent to 82,000, library databases increased by 5 percent to 717, and owned or leased e-books by 60 percent to 181,000 titles.
Community members could ask questions online in the weeks leading up to a forum or at that time. Innovation and best practices in research and education and learning were shared in four 'Making Connections'.
Integrate technology into our teaching, research, business/support functions and infrastructure
The forums, known as People's Question Time, were chaired by the Queensland Premier and brought together experts and government ministers in a studio environment. QUT participated in the Australian University IT benchmark survey conducted by the Council of Australian University Directors of IT (CAUDIT).
The University and its Council
University establishment and general functions and powers
Council establishment and general functions and powers
The University’s functions are –
There is a Council of the University
The Council must act in a way that appears to it most likely to promote the University’s interests
Consulting and contract revenue decreased by $17.6 million (32.5 percent) driven by the Stronger Smarter Learning Communities grant accounted for in 2009. Other expenses increased by $5 million (2.5 percent), with the largest contributors was $4.9 million in scholarships, grants and awards.
Income statement For the year ended 31 December 2010
Revenue from continuing operations Australian Government financial assistance
Queensland University of Technology Statement of comprehensive income
Operating result after income tax for the
ASSETS Current assets
Non-current assets
LIABILITIES Current liabilities
Non-current liabilities
EQUITY
Statement of cash flows For the year ended 31 December 2010
Cash flows from operating activities
Net cash provided by / (used in) operating
Cash flows from investing activities Proceeds from sale of property, plant and
Net cash provided by / (used in) investing
Cash flows from financing activities Queensland Government loan - Smart State
Net cash provided by / (used in) financing
Net increase / (decrease) in cash and cash
Cash and cash equivalents at the end of the
Queensland University of Technology Notes to the financial statements
Expenses
Assets
Liabilities
Equity
Disclosure Notes
Notes to the financial statements 31 December 2010
1 Summary of significant accounting policies
Queensland University of Technology Notes to the financial statements Notes to the financial statements 31 December 2010 (continued).
1 Summary of significant accounting policies (continued)
9-Joint venture entities
However, should an income tax liability arise in the future, deferred tax assets will be recognized for unused tax losses in cases where it is probable that future taxable amounts will be available to utilize these losses. Income tax on cumulative temporary differences will also be charged to the deferred tax liability or deferred tax asset at the rates expected to apply when these temporary differences reverse.
11-(k) Inventories
1 Summary of significant accounting policies (continued) (n) Derivatives
13-Depreciation
Restricted assets
Revaluations
The consolidated entity's land values are indexed using rates provided by an independent valuer on a 'per campus' basis. The University's heritage and cultural assets are indexed using rates provided by the University's Art Curator; 1.5% in.
Indexation is carried out annually for a range of asset classes for tangible fixed assets when independent valuation is not envisaged. The consolidated company indexes buildings (including heritage and land improvements) using Australian Bureau of Statistics rates.
In 2010, the consolidated entity's base values were indexed as follows; Gardens Point and Kelvin Grove Campus 3.8%; and Carseldine Campus 3.3%.
Loans are classified as current liabilities, unless the consolidated company has an unconditional right to defer the settlement of the liability for at least 12 months after the date of the statement of financial position. A loan is removed from the statement of financial position when the obligation specified in the contract is fulfilled, canceled or expired.
The difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in other income or other expenses. u) Employee benefits (i) Wages and salaries.
The net amount of GST recoverable from or payable to the tax authorities is included in other receivables or payables in the statement of financial position. The GST components of cash flows arising from investing or financing activities that are recoverable from or payable to the tax authorities are presented as operating cash flows.
2 Australian Government financial assistance including HECS-HELP and FEE-HELP
Notes to the accounts 31 December 2010 31 December 2010 (continued) 2 Australian Government financial assistance including HECS-HELP and FEE-HELP (continued).
Other ARC
Queensland University of Technology Notes to the Financial Statements Notes to the Financial Statements 31 December 2010 (continued) 2 Australian Government Financial Assistance including HECS-HELP and FEE-HELP (continued).
Total Other Australian Government
Total Australian Government financial
Reconciliation
Notes to the annual accounts 31 December 2010 31 December 2010 (continued) 2 Financial support from the Australian Government, including HECS-HELP and FEE-HELP (continued). i) Grants received from the Australian Government - on a cash basis.
Total Australian Government Grants
Total Australian Government funding
3 State and Local Government financial assistance
Total State and Local Government financial
4 Fees and charges
Course fees and charges
Other non-course fees and charges
21-5 Investment revenue and income
6 Royalties, trademarks and licences
7 Consultancy and contracts
8 Other revenue and income
Academic
Non-academic
10 Depreciation and amortisation
Depreciation
Amortisation
11 Repairs and maintenance
Consolidated Parent Entity
23-12 Borrowing costs
13 Impairment of assets
14 Other expenses
15 Income tax
17 Receivables
Current
Non-current
17 Receivables (continued)
Consolidated
Student fees
Student loans
Trade
27-18 Inventories
19 Other financial assets
The shares in AquaCarotene were subsequently transferred to the University's wholly owned subsidiary, qutbluebox Pty Ltd. While the University has significant influence over the shares, the University does not control the entity with respect to its voting rights.
20 Non-current assets classified as held for sale
The University does not maintain equity accounting for unlisted securities as the University's investments in these companies are not material. These holding companies include the following unlisted entities; Icon.Net Pty Ltd (deregistered 2010); Impedance Cardiology Systems (American holding company); Cellborne Lipids Pty Ltd; the Cooperative Research Center for Sugar Industry Innovation through Biotechnology (dissolved in 2010); Sarcon Innovations Pty Ltd;.
The Australian CRC for Interactive Design (ACID) Pty Ltd was incorporated in Australia and its core business is the research, development and commercialization of content and technologies for the creative industries. IELTS Pty Ltd; Wound Care CRC Pty Ltd; Spatial Information Systems Research Limited; and Smart Services CRC Pty Ltd.
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) -29-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) equipment (continued) -30-
21 Property, plant and equipment (continued)
31-Property, plant & equipment includes all operational assets
22 Intangible assets
Software at
December 2009
December 2010
33-23 Trade and other payables
24 Borrowings
Current Secured
Unsecured
Non-current Secured
25 Provisions
Current provisions expected to be settled within 12 months
Current provisions expected to be settled after more than 12 months
Non-current provisions Employee benefits
35-26 Other liabilities
27 Reserves and retained earnings
Movements
Nature and purpose of reserves
37-28 Key management personnel disclosures
28 Key management personnel disclosures (continued)
Number 2010 2009
29 Remuneration of auditors
Assurance services (a) Audit services
30 Contingencies (a) Contingent liabilities
30 Contingencies (continued)
41-(b) Contingent assets
Contingent Assets Contingent Liabilities
31 Commitments
31 Commitments (continued)
43-32 Related parties
33 Subsidiaries
The University entered into a joint venture with the Queensland Government to develop a 16.5 hectare site adjacent to the current Kelvin Grove campus. The joint venture established the Kelvin Grove Urban Village (KGUV) to provide new opportunities in teaching, research and community engagement for the University.
Completed joint venture operations include; creative industries area (CIP); Institute for Health and Biomedical Innovation (IHBI); Center for Learning and Student Assistance; and the Center for Physical Activity, Clinical Education and Health (CPACEH). The University and the Queensland Department of Housing have signed a co-operation agreement which sets out the procedures, organization and responsibilities for the development.
Each party owns and controls its own land, but the agreement allows for development of the site in a cooperative and coordinated manner.
35 Reconciliation of operating result after income tax to net cash flows from operating activities
36 Financial risk management
The risk to the university is that the value of a financial instrument will fluctuate due to changes in market prices. QUT minimizes its exposure to fluctuating market interest rates by diversifying the University's investments in both cash and short-term financing with approved financial institutions.
Sensitivity analysis
The university prices goods and services based on a combination of cost recovery or market forces, depending on the type of item supplied. The University monitors its investments with QIC and reports regularly to management and the University Council for high-level review and action if necessary.
47-(b) Credit risk
Queensland University of Technology Notes to the accounts Notes to the accounts 31 December 2010 (continued) 36 Financial risk management (continued).
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) -48-
Commonwealth grant
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) 37 Acquittal of Australian Government financial assistance (continued) 37.1 DEEWR - CGS and Other DEEWR Grants (continued) -49-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) Acquittal of Australian Government financial assistance (continued) -50-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) 37 Acquittal of Australian Government financial assistance (continued) -51-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) Acquittal of Australian Government financial assistance (continued) -52-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) 37 Acquittal of Australian Government financial assistance (continued) 37.4 DIISR Research (continued) -53-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) Acquittal of Australian Government financial assistance (continued) -54-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) 37 Acquittal of Australian Government financial assistance (continued) -55-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) Acquittal of Australian Government financial assistance (continued) -56-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) 37 Acquittal of Australian Government financial assistance (continued) 37.7 Australian Research Council Grants (continued) -57-
Queensland University of Technology Notes to the financial statements 31 December 2010 (continued) Acquittal of Australian Government financial assistance (continued) Australian Research Council Grants (continued) -58-
59-37.8 OS-HELP
Parent entity
Mack, J Senior Lecturer New Zealand to attend and present a paper at the 2010 AfAAnZ Conference in Christchurch, New Zealand from July 3 - July 7, 2012.
QUEENSLAND UNIVERSITY OF TECHNOLOGY 2010
QUT CAMPUSES
Gardens Point
Queensland University of Technology Brisbane Australia
