2011 - Parliament of Victoria

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2011A n n u A l R e p o R t

www.vu.edu.auCRICoS provider no. 00124K

VICTORIA UNIVERSITY 2011 ANNUAL REPORT

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ACKNOWLEDGEMENT OF COUNTRYWe acknowledge the ancestors, elders and families of the Wurundjeri and Boonwurrung tribes of the Kulin, the traditional owners and custodians of university land.

the people of the Wurundjeri and Boonwurrung gathered at important times with other Kulin language groups – the Wathaurong, taungerong and Dja Dja Wurrung – along the Yarra and Maribyrnong river valleys, including at Keilor sites, Werribee River, Mount William stone-axe quarry and the significant ceremonial bora rings at Sunbury.

one of the last remnants of indigenous grasslands on Kulin lands is located near Iramoo at the St Albans Campus.

Wurundjeri and Boonwurrung people have a strong connection to their traditional lands and therefore the university. Wurundjeri language is used to name Indigenous programs and permission has been given to Moondani Balluk by elders to retell Kulin creation stories and to perform ceremonies on university land.

the university acknowledges that the land on which the university stands was the place of age-old ceremonies of celebration, initiation and renewal, and that the Kulin people’s living culture had and has a unique role in the life of this region.

GENERAL ENQUIRIESphone +61 3 9919 4000

poStAl ADDReSS

Victoria university

po Box 14428 Melbourne VIC 8001

www.vu.edu.au

contents

Acknowledgement of country inside front cover

generAl enquiries inside front cover

letter of trAnsmittAl 5

chAncellor's foreword 6

Vice-chAncellor's foreword 7

uniVersity Vision And mission 8

history 8

uniVersity goVernAnce 9

goVernAnce structure 10

operAtionAl structure 10

educAtion And reseArch structure 11

council members 12

public AccountAbilities 15

A new strAtegic plAn 16

cAmpuses And sites 18

fAculties And schools 19

students 20

stAff 22

stAffing stAtistics 24

locAl And globAl enterprises And communities 26

Vu internAtionAl 27

key industry And community pArtners 29

innoVAtion And commerciAl deVelopment 30

reseArch 31

meeting workforce needs 33

leArning in the workplAce And community 34

deVelopment office 35

leArning And teAching stAtistics 37

occupAtionAl heAlth And sAfety 43

fees And chArges 45

stAtement on risk mAnAgement 46

reporting on uniVersity AssociAtes And commerciAl Ventures 47

expenditure on consultAnts 48

whistleblowers protection procedures 49

council And committees AttendAnce 2011 50

uniVersity regulAtions 51

freedom of informAtion reporting 52

grieVAnce And complAint procedures for stAff And students 54

AdditionAl compliAnce disclosures 55

• CompliancewithNationalGovernanceProtocols 55

• StatementofCompliancewiththeBuildingandMaintenance ProvisionsoftheBuildingAct1993 55

• SummaryofEnvironmentalPerformance 55

• DeclarationsofInterestsbyCouncilMembers 55

• IndemnityforCouncilandSeniorOfficers 55

• NationalCompetitionPolicy 55

• RelevantMinister 55

strAtegic plAn tAble 56

operAtionAl And budgetAry obJectiVes 2011 57

tAfe stAtement of performAnce mAnAgement certificAte 58

tAfe key performAnce indicAtors tAble 59

Auditor generAl’s report 60

finAnciAl oVerView 2011 62

VictoriA uniVersity And subsidiAries – fiVe-yeAr finAnciAl summAry 64

2011 finAnciAl stAtements index 65

independent Audit report 66–67

stAtement by the chief finAnciAl officer 68

stAtement by the Acting chAncellor And the Vice-chAncellor And president 69

report by the members of council 70–71

income stAtement 72

stAtement of comprehensiVe income 73

stAtement of finAnciAl position 74

stAtement of chAnges in equity 75

stAtement of cAsh flows 76

notes to the finAnciAl stAtements 77–123

compliAnce index of disclosure requirements 2011 124–125

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letter of transmittal

DRAFT

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vice-chancellor’s foreWorD

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chancellor’s foreWorD

For Victoria university (Vu), 2011 was a challenging and productive year. We continued to make significant contributions to national initiatives to improve participation and achievement in tertiary and pre-tertiary education, particularly among currently under-represented student groups, and developed a new strategic plan for 2012-2016 to take the university to the next level of international recognition.

From 2012 when the more deregulated tertiary education market takes effect, Australian students will have unparalleled choice about where they study and what they study. In this new environment Vu faces significant challenges. this will make the implementation of the strategic plan, to meet these challenges, an urgent priority.

Vu’s new Strategic plan 2012–2016 was endorsed by Council in August 2011 following extensive university-wide consultation, including a valuable leadership retreat with more than 100 senior university leaders. the wide-ranging plan includes a renewed vision and mission for the university, and details how we aim to become an international leader in our goals of excellence, engagement and accessibility through high-quality learning and teaching and through research and knowledge exchange.

A new curriculum framework is being developed in 2012 which will ensure our courses continue to be strongly aligned with industry and community needs, and meet the requirements not only of the burgeoning population of our heartland in Melbourne’s west, but also the nation and the world.

Among its many individual objectives, the Strategic plan includes a goal to triple from five to 15 the number of disciplines at which we are currently rated at world standard or better under the new excellence in Research for Australia (eRA) rankings. to complement the plan, a new research strategy outlines a series of research targets for the university to meet by 2016, and identifies specific research focus areas in health; education, lifelong learning and workforce development; environmental sustainability; and cultural diversity.

Vu also aims to be known as a dynamic and prosperous organisation. A first step towards this in 2011 was to place a focus on our people – who are key to our success – through the establishment of a ‘people and culture’ function following an external stocktake of Vu operations earlier in the year. Due to the challenges we are facing, the university is moving quickly to reshape the organisation through the organisation Reform program. this program is enabling the university to rebalance its investments between academic and general staffing levels and is building on the work of our Integrated Services program (ISp) to identify tangible benefits that ensure we produce more nimble services, better and more satisfying jobs for staff, and improved support services university-wide. these plans overlap with improvement projects related to our Student Management Systems (SMS) and Vu ConneCt programs designed to improve student admissions and enrolments procedures, finance services, and reporting information – all translating to ongoing financial savings for the university.

the progress of these projects was accompanied by a welcome agreement finalised in early 2011 between the university and the national tertiary education union for a new Vu Academic and General Staff enterprise Agreement.

Vu’s Integrated education program (Iep) was successfully piloted in 2011 and will be introduced across several areas in 2012. the program delivers a full ‘tertiary offer’ through the integration of vocational and higher education courses with streamlined pathways from diploma level into the second year of a degree.

A restructured Vu College continued to work with each of the university’s five faculties to embed academic, language, literacy and numeracy into course delivery. the College is also responsible for the university’s new Youth Strategy, providing training to more than 3000 early school leavers each year, and foundation courses to more than 5000 students. other initiatives for pre-tertiary students in 2011 include the university’s new tradeApps program, which provides a more responsive approach to apprenticeship education.

We were successful in winning several rounds of Commonwealth Government funding in 2011 to support our key strategic initiatives. We acquired $22.9 million in structural adjustment funding to introduce inter-professional education across 10 health disciplines so that trainee nurses, paramedics and other professionals can learn together in cross-disciplinary teams. A health clinic planned for our Werribee Campus will complement the $18 million in investments we have committed to similar clinics at St Albans and Footscray park Campuses.

the university’s new Victoria Institute for education, Diversity and lifelong learning also received $1.4 million to support our education partnerships across Australia that are helping prepare students from regions of low socioeconomic status for tertiary study. Researchers from the university’s Institute for Sustainability and Innovation received $2.7 million in grants from government and industry partners for innovative desalination projects, confirming the university’s leading role in developing desalination technology.

In 2011 the university was honoured to receive a prestigious Business-Higher education Roundtable (B-HeRt) Award for sustained collaboration between business and higher education, in particular for the innovative programs we offer to assist community groups and migrants across both our vocational and higher education sectors. our Institute for Supply Chain and logistics was part of a winning consortium to receive a B-HeRt Award for best collaboration with a regional focus. Another impressive accolade for Vu in 2011 was the naming of our training restaurant, Venu, as the best in the state at the Restaurant and Catering Awards for excellence.

I would like to take this opportunity to honour the life and work of Sir Zelman Cowen, who sadly passed away aged 92 in December 2011. As a Distinguished Visiting professor and Chair of the Victoria university Foundation, Sir Zelman made an enormous contribution to the life of the university from its earliest days, and his legacy will be long remembered by our Sir Zelman Cowen Centre for Continuing legal education, which was named in his honour in 2001.

In my first year as Vice-Chancellor, I am heartened by the progress that the university has made to strengthen our increasingly sturdy foundations to be a great university of the 21st century. this annual report is a testament to the ongoing commitment and dedication that all members of the Vu community have shown. I look forward to the coming years with optimism, during which together we can steer Victoria university towards its key strategic goal of becoming a great university of the 21st Century.

professor peter Dawkins

Vice-Chancellor and president

During 2011 the university Council and senior management, led by Vice-Chancellor professor peter Dawkins, placed considerable focus on strategic planning to ensure that the university is well positioned to address opportunities and challenges that emerge from a deregulated environment of uncapped Government funding as of 2012.

to prepare for this new environment, the university Council endorsed a strategic plan for 2012–2016 detailing how Victoria university (Vu) can become an international leader in tertiary and pre-tertiary education and a great university of the 21st Century.

During the year Vu’s capital development program continued to make the university a major player in creating new infrastructure for Melbourne’s rapidly growing west. our flagship $68 million sport and learning precinct, which opened in mid 2011 at the Footscray park Campus, includes the university’s Institute of Sport, exercise and Active living (ISeAl) – an institute that is rapidly building a position of national and international leadership in sport and exercise science.

the $40 million Constructions Future project, now under construction at Sunshine Campus, will train thousands of workers for Melbourne’s booming building and construction industry, while a newly opened $51.6 million teaching, training and Research Centre, of which Vu is a partner with Western Health and the university of Melbourne, is providing our nursing and biomedical students with real-life experience at Sunshine Hospital. At St Albans Campus, work has started on an $11 million Recreation and Health Science building.

the opening of two new learning commons at Footscray park and Footscray nicholson Campuses in 2011 at a cost of $18.9 million has injected new life into the campuses as learning spaces and social hubs by offering students a unique mix of facilities and services.

2011 also marked the introduction of our biannual Chancellor’s lecture Series for community discussion with thought-leaders on issues of public importance. In April, social demographer and KpMG partner Bernard Salt revealed the fascinating findings of his research on cultural change in Melbourne’s west, while in october, Vu’s inaugural Vice-Chancellor’s Fellow, lindsay tanner, provided provocative insights about how the internet is transforming universities.

In line with the university’s blueprint outlined in the Strategic plan, we aim to provide the maximum possible resources for our core activities of teaching and learning, and research and knowledge exchange. Despite the challenges of our 2011 budget outcome falling short of our budget target, in 2012 the university anticipates achieving an underlying surplus. the university will also establish a $10 million Strategic Investment Fund to deliver strategic projects to enable a strong start to the implementation of the strategic plan.

During 2011, in line with the State Government’s 2010 Review of university Acts, the university Council re-organised the structure of its Committees so that it will operate with a membership of 14 from 1 January 2012. the reduction from 22 members will allow a tighter and more efficient operation of Council decision-making.

on behalf of the university Council, I would like to thank all staff for their contribution to Vu during 2011, and all of our other stakeholders for their ongoing support.

George pappas

Chancellor

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UniversitY Governance

oBJectsthe objects of the university as provided by the Victoria University Act 2010 include:

• toprovideandmaintainateachingandlearningenvironmentofexcellentqualityoffering higher education at an international standard

• toprovidevocationaleducationandtraining,furthereducationandotherformsofeducation determined by the university to support and complement the provision of higher education by the university

• toundertakescholarship,pureandappliedresearch,invention,innovation,education and consultancy of international standing and to apply those matters to the advancement of knowledge and to the benefit of the wellbeing of the Victorian, Australian and international communities

• toequipgraduatesoftheUniversitytoexcelintheirchosencareersandtocontributeto the life of the community

• toservetheVictorian,Australianandinternationalcommunitiesandthepublicinterest by:

I. enriching cultural and community life

II. elevating public awareness of educational, scientific and artistic developments

III. promoting critical and free enquiry, informed intellectual discourse and public debate within the university and in the wider society.

• touseitsexpertiseandresourcestoinvolveAboriginalandTorresStraitIslanderpeople of Australia in its teaching, learning, research and advancement of knowledge activities and thereby contribute to:

I. realising Aboriginal and torres Strait Islander aspirations

II. safeguarding the ancient and rich Aboriginal and torres Strait Islander cultural heritage.

• toprovideprogramsandservicesinawaythatreflectsprinciplesofequityandsocialjustice;

• toconferdegreesandgrantdiplomas,certificates,licencesandotherawards

• toutiliseorexploititsexpertiseandresources,whethercommerciallyorotherwise

• todevelopandprovideeducational,cultural,professional,technicalandvocationalservices, and, in particular, to foster participation in post-secondary education for people living or working in the western metropolitan region of Melbourne.

responsiBilities to the West of melBoUrnethe Victoria University Act 2010 builds on our historical commitment to the west and guarantees that we continue to do so into the future. this commitment is front and centre in the preamble which affirms that Victoria university ‘focuses on the development and provision of educational, cultural, research and related services to build social, cultural and economic capital particularly in the Western Metropolitan region of Melbourne, and in ways which reflect principles of equity and social justice’. In 2011 we built on this, by ensuring that our Mission and the Strategic plan, Excellent, Engaged and Accessible continue to give priority to the West of Melbourne. the West of Melbourne encompasses the following local government areas: Brimbank City Council; Hobson's Bay City Council; Maribyrnong City Council; Moonee Valley City Council; Hume City Council; Wyndham City Council; and Melton Shire.

coUncilthe Council is the governing body of the university and has the general direction and superintendence of the university. the Council has established a number of standing committees to assist it in its work. they are:

• Chancellor’sCommittee(theChancellor’sCommitteehastwosub-committeestoassistspecific activity: the nominations Committee and the Remuneration Committee)

• AuditandRiskCommittee

• ResourcesCommittee.

Membership of these standing committees consists primarily of members of Council. During the calendar year 2011, Council met seven times. In addition, it held a retreat on 27 and 28 May 2011. the standing committees generally met on a monthly or bimonthly basis.

Details about Council including minutes of meetings are published on the university’s website: www.vu.edu.au/about-vu/governance/council

eDUcation anD research BoarDthere is one university statutory board, the education and Research Board, which is required by the Act or subordinate legislation to provide advice to Council on academic matters. In 2011 the education and Research Board met 10 times and the executive Committee of the Board met eight times.

UniversitY vision anD mission

visionVictoria university will be excellent, engaged and accessible, and internationally recognised for its leadership in:

• empoweringadiversecommunityofstudentstogrowtheircapabilitiesandtransformtheir lives

• engagingwithindustryandcommunitytomaketheworldabetterplace,throughthecreation, sharing and use of new knowledge.

missionthrough its distinctive approach to curriculum, the student experience, research and knowledge exchange, emphasising engagement with industry and the community, Victoria university will be renowned for:

• empoweringstudentsfromdiversecountriesandcultures,socioeconomicandeducational backgrounds, to be successful lifelong learners, grow their skills and capabilities for the changing world of work, and be confident, creative, ethical and respectful, local and global citizens

• findingcreativeandevidence-basedsolutionstoimportantcontemporarychallengesin Australia, Asia and globally, relating especially to education and lifelong learning, to health and active living, to the cultural diversity and wellbeing of communities, to economic development and environmental sustainability, and to the success of particular industries and places, especially our heartland of the west of Melbourne, Australia's fastest growing region.

Victoria university (Vu) opened its doors in 1916 as the Footscray technical School. It was established to serve the community of Melbourne’s western region, equipping its industrial workforce with practical, job focused skills and knowledge.

At the time, there was a real need for local education and training. like today, Australia then suffered a skills shortage and was prone to import from other countries the skilled workers it needed.

over the next 50 years, Footscray technical School grew rapidly, and it quickly became one of Australia’s leading providers of tertiary education, being renamed Footscray Institute of technology (FIt) in 1968.

In 1990, Victoria university of technology was established, formed out of an amalgamation of FIt and the Western Institute. In 1998, the Western Melbourne Institute of tAFe amalgamated with Victoria university of technology.

Renamed Victoria university in 2005, it has become one of Australia’s largest universities, and is one of only five dual-sector universities offering substantial numbers of both higher education and vocational education (tAFe) courses.

the distinctiveness of Victoria university and its transformational role in improving the lives of people and communities, particularly in the western metropolitan region of Melbourne, is recognised in the Victoria University Act 2010 which commenced operation on 1 September 2010.

Vu, including its predecessor institutions, has now been providing education, research and training close to 100 years.

In 1990, there were 16,000 students enrolled at Vu. In 2011, 51,885 enrolled students and 5400-plus staff, including casual and sessional staff, across 10 local campuses, as well as international sites, make up what is one of the most diverse mixes at an Australian university.

one of the strengths of Victoria university and its predecessor institutions has been their close links with the communities they serve. today, Vu continues to maintain strong links with business and its local communities, helping to ensure that the university continues to provide meaningful and relevant education programs.

After 20 years as a multi-sector university, Victoria university is coming of age, maturing into a coherent, unified university with a vision and mission that binds its constituent parts.

In the last decade the university has become firmly established as a leader in transnational education particularly in Asia, with partners in China, Malaysia, India as well as many other countries.

historY

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eDUcation anD research strUctUreeducAtion And

reseArch b0Ard

executive Dean Faculty of Arts, education and

Human Developmentprofessor

michAel hAmel-green

executive Dean Faculty of Business and law

professor dAVid lAmond

executive Dean Faculty of Health, engineering

and Scienceprofessor

michelle towstoless

executive Dean technical trades Innovationms corAlie morrissey

executive Dean Workforce Development

mr grAnt dreher

executive Dean Vu College

ms susAn young

Deputy Vice-Chancellor (Academic and Students)

professor Anne Jones

Deputy Vice-Chancellor (Research and

Knowledge exchange)professor lindA rosenmAn

Vice-Chancellor and presidentprofessor peter dAwkins

council

Governance strUctUre

operational strUctUre

Vice-Chancellor and presidentprofessor peter dAwkins

council

Deputy Vice-Chancellor (Academic and

Students)professor Anne Jones

pro Vice-Chancellor and Chief Information

officerprofessor

peter creAmer

Chief Financial officer

mr dAVid colliVer

Vice-president (people and Culture)mr pAul lefebVre

Deputy Vice-Chancellor (Financial and Capital

Management)mr Jon hickmAn

Deputy Vice-Chancellor (Research and

Knowledge exchange)professor

lindA rosenmAn

Deputy Vice-Chancellor (planning, Marketing and external Affairs)

professor duncAn bentley

CounCIl

eDuCAtIon AnD ReSeARCH BoARD

ReSouRCeS CoMMIttee

ReMuneRAtIon CoMMIttee

AuDIt AnD RISK CoMMIttee

noMInAtIonS CoMMIttee

CHAnCelloR’S CoMMIttee

executive Dean Faculty of Arts, education and

Human Development professor

michAel hAmel-green

executive Dean Faculty of Business and law

professor dAVid lAmond

executive Dean Faculty of Health,

engineering and Science professor

michelle towstoless

executive Dean technical and trades

Innovation ms corAlie morrissey

executive Dean Workforce Development

mr grAnt dreher

executive Dean Vu College

ms susAn young

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personal Details cateGorY of memBership profession / memBer of other BoarDs first appointeD

to coUncilmost recent appointment

13 Mr Ken loughnan Ao (ceased 28.02.2011) DipAccRMIT, FCpA, FAIM, FAICD

Appointed by Council Chairman, Victoria university FoundationCommissioner, Victorian Commission for Gambling RegulationChairman, SKIlleD Group ltdChairman, oteK Australia ltdChairman, Zeep Australia pty ltdChairman, Mobile Data network Service Review Committee – Victorian GovernmentChairman, Metropolitan Mobile Radio Contract Management Group – Victorian GovernmentChairman, emergency Altering Service Contract Management Group – Victorian GovernmentChairman, Metro Quest pty ltdChairman, east view Crest pty ltdChairman, panorama Way pty ltdChairman, Boytonrath pastoralVice Chairman, State emergency telecommunications & technology Steering CommitteeVice Chairman, Victorian Defence Industry Advisory CouncilInternational Vice-president, Variety, the Children’s Charity

04.08.2003 01.01.2010

14 Dr James DoughneyBBus(econ) GIAe, phDVicMelb

elected by Staff non-beneficial trustee, Ardross trust 01.01.2006 01.01.2010

15 Mr Michael Zaar elected by Staff nil 01.01.2006 01.01.2010

16 Mr Kevin Baker (ceased 08.04.2011)BSc, GradDipedtech, GradDipComStudMelb, DipedMelbStateColl

elected by staff (tAFe) teacher, Victoria universityexecutive Member Vu Aeu Sub-Branch tAFe and Adult provision Councillor – Aeu Victorian BranchBranch councillor, Aeu Victorian Branch

26.10.2006 01.01.2009

17 Mr Garry Kuan elected by Students nil 06.10.2011 06.10.2011

18 Mr leon Burger (ceased 07.06.2011)

elected by Students nil 01.01.2011 01.01.2011

19 Mr thomas D’Souza (ceased 25.07.2011)

elected by Students nil 01.01.2010 01.01.2011

20 Mr John o’Rourke BCommMelb, GradDipFinRMIT

Council Member Completing term

plenary Group pty ltdplenary Group no. 1 pty ltdplenary Group no. 2 pty ltdplenary Group no. 3 pty ltdpHut pty ltdplenary Health(Casey) pty ltdplenary Health(Casey) Holdings pty ltdplenary Health(Casey) Finance pty ltdplenary Conventions pty ltdplenary Conventions Hotel pty ltdplenary Conventions Holdings pty ltdplenary Conventions Retail pty ltdplenary Conventions tower pty ltdplenary Conventions Hotel Apartments pty ltd

16.02.2005 17.06.2008

coUncil memBers



1 Mr George pappasBecon(Hons)Monash, MBAHarvard

Chancellor Chairman, Marmad pty ltdChairman, Zanthryn pty ltdChairman, pappas Superannuation pty ltdChairman, energy Matters pty ltdChairman, Committee for MelbourneChairman, Defence Strategic Reform Advisory Board (DSRAB)Director, Western Bulldogs Football Club

01.01.2010 01.01.2010

2 Commissioner Dianne FoggoDiptching, Dipphysed, GradDipMulticuturaleDMelb

Deputy Chancellor Appointed by Council

nil 01.01.1999 01.01.2010

3 professor peter DawkinsBSc(Hons), MSc(econ)London, phDLoughborough, FASSA

Vice-Chancellor national Fellow, IpAA Victoria (FIpAA) national ACel Honorary Fellowship, Australian Council for educational leaders (FACel)

01.01.2011 01.01.2011

4 professor neil AndrewsBA(Hons) llB, SJDSyd

Chair, education Research Board

nil 09.08.2010 09.08.2010

5 Ms Meg Hansen Appointed by Government principal, Westbourne GrammarGrants Committee member – Invergowrie Foundation

13.05.2008 30.03.2010

6 Ms Andrea HassettBBusRMIT

Appointed by Government Director, o’Conner Marsden & Associatestrustee, Hassett Smith Family trustMember, peninsula ShireCouncil Audit and Risk Committee

06.03.2007 30.03.2010

7 Ms Sharon Cullen Appointed by Government Director, Ai Group legal pty ltd 10.02.2009 10.02.2009

8 Ms prue Willsford Appointed by Government Company Secretary – State trustees limitedCompany Secretary – Stl Financial Services limitedDirector, Willsford pty ltd

17.06.2008 10.02.2009

9 Mr Geoff DaleApplied ChemFItMelb

Appointed by Council Director, Dale Family Superannuation Fund 01.01.2010 01.01.2010

10 Mr Wayne Kayler-thomson DipComGIT, FAIM, CpA

Appointed by Council Director and Secretary, Victorian employers Chamber of Commerce and Industry (VeCCI)Director, the State Chamber of Commerce and Industry VictoriaDirector, CCI – Victoria legal pty ltdDirector, VicSuper pty ltdDirector, national tourism Alliancetrustee, Kayler-thomson Family Superannuation FundDirector, Australian Accommodation Association

01.01.2010 01.01.2010

11 Mr Clovis Bonner Appointed by Council Director, B & C Advisory Group pty ltd Director, B & C Capital Group pty ltdDirector, BCG Holdings (Aust) pty ltdDirector, Bayside Ml ltdDirector, Bayside General practice network ltdDirector, Clovis Bonner Consulting pty ltdDirector, Combined Fund pty ltdDirector, ISIS primary Care ltdMember, Dept. of Justice – Audit & Risk CommitteeMember, Westlink Community Reference Group

23.02.2009 23.02.2009

12 Dr Richard Gould (ceased 28.02.2011)DiptechMgmtUTS, MBAAGSM, phDRMIT, QpMR, FAMI, FAICD

Appointed by Council non- executive Director, Scope ltdnon- executive Director, Victorian tAFe AssociationMember, Health professions Hearing panels listMember, Discipline Appeals Board

09.11.2004 01.01.2009

14 15

pUBlic accoUntaBilities

Victoria university aims to meet its public accountabilities through exemplary governance, effective management and sound stewardship. Below are some of the university's significant activities for 2011.

financial anD capital manaGementsustAinAbility In recent years the Victoria university Council has set a target to generate an annual underlying surplus in excess of 5% of revenue as a key element of our sustainability drive. this is necessary to: support the university’s commitment to equity, support excellence in learning, and teaching and research, and allow the university to compete effectively in the marketplace.

For 2011 there was an underlying deficit of 3% and therefore below the target of underlying surplus of 5%. this was due to a combination of shortfall in vocational education, revenue due to under-delivery of planned hours, changes to capping and reducation in FFS – teaching and other Student Fees and Charges, increase in overall employment costs and non-salary costs. the university is undertaking an organisation Reform program in 2012.

2011 finAnciAl reportsthe 2011 reported surplus was $8.6 million, taking into account capital revenues and gross proceeds from sale of assets. Capital expenditure in 2011 was $62.3 million, which included expenditure on:

• thenewStudentManagementSystem,whichwillreplaceVUSIS,($10.5m);

• LearningCommons,providinganewlearningandteachingenvironmentatFootscraynicholson Campus, ($6.5m);

• SunshineConstructionFutures,tosupportthedevelopmentofthebuildingandconstruction industries in Melbourne’s west, ($9.9m); and

• StAlbansSports,RecreationandHealthfacility($7.2m).

operAting reVenueDuring 2011 student-related revenue grew by $8m (2%), notwithstanding some pressure on both domestic and international student revenue.

From 2012, enrolments in higher education will be fully contestable. During 2011, Vu (and other universities) sacrificed the Commonwealth Government fee contribution for a portion of our students to establish a greater presence in the market. the revenue foregone as a consequence of this strategy was in the order of $10 million; however the benefit is that we will move into the 2012 competitive marketplace on a firmer basis than would otherwise have been the case, by having students in the ‘pipeline’.

operAting expenditureDuring 2011, labour-related expenditure grew by $27m (10%), and expenditure on other items, largely goods and services, grew by $17.0m (12%).

2012 cApitAl budgetthe focus of the 2012 capital expenditure plan is to develop the required infrustructure to support our strategy to be a leading university and to significantly enhance the student experience. the program will generate sustained improvement to our long-term performance.

Significant building projects for 2012 include the Sunshine Construction Futures and the St Albans Sports, Recreation and Health facilities. ICt and ItS investments will include the new the new Student Management System, teaching Spaces upgrade, Classrooms of the Future and e-learning.

further informAtionMr David Colliver Chief Financial officer [email protected]

Governancenew strAtegic plAnone of the most important governance roles of the Council is to approve the university’s Strategic plan. Working very closely with incoming Vice-Chancellor professor peter Dawkins, Council guided the creation and approval of Accessible, excellent and engaged: Victoria university’s Strategic plan to be a Great university of the 21st Century.

the plan builds on the university’s previous strategic direction, but particularly emphasizes the changing tertiary education environment. A summary of the plan is on pages 16 and 17.

council sizeone impact of the Victoria State Government’s Review of university Acts in 2010 was the requirement for university Councils to reconsider their size and composition. the Vu Council’s size of 22 members was required to be reconstituted within the new Act’s prescribed range of 14 to 21 members. After significant debate in 2010, Council resolved to move towards reducing the size of Council to 14 members, a size that would retain the present balance between the groups that comprise Council, but that would allow a tighter and more efficient operation. Council has moved during 2011 to make this transition a reality by gradually reducing its membership and reorganising the structure of its Committees so that it will operate with the target membership of 14 from 1 January 2012.

teqsA Audit chAngesthe tertiary education sector is transitioning towards a new regulatory environment, with the tertiary education Quality and Standards Agency (teQSA) and the Australian Skills Quality Authority (ASQA) taking over the national regulatory duties for the tertiary sector.

In particular, teQSA came into being during 2011, subsuming the role formerly served by the Australian universities Quality Agency (AuQA) for assuring quality in higher education. Vu spent much of 2011 preparing for teQSA to undertake an AuQA-style ‘Cycle 2’ audit early in 2012. late in 2011, the regulator advised that a decision had been made to immediately cease all AuQA-style audits, and to replace them with the still-developing teQSA regulatory framework. Accordingly, Vu will become one of the first universities to face a teQSA registration audit process in october 2012.

further informAtionprofessor Duncan Bentley Deputy Vice-Chancellor – planning, Marketing and external Affairs +61 3 9919 5636 [email protected]

council members continued



plenary Conventions Hotel Services pty ltdplenary Holdings pty ltdplenary Holdings no. 1 pty ltdplenary Holdings no. 2 pty ltdplenary Holdings no. 3 pty ltdplenary Holdings no. 4 pty ltdplenary Holdings no. 5 pty ltdplenary Holdings no. 6 pty ltdplenary Holdings no. 7 pty ltd

plenary education (SA) pty ltdplenary education (VIC) Holdings pty ltdplenary living ( leAp 2) pty ltdplenary Research pty ltdplenary Research Holdings pty ltdplenary Investment Management limitedplenary Health (CCC) pty ltdSuncoast Health pty ltdplenary Group(Singapore) pte ltdpCut no 1 pty ltd (formerly Suncoast Health pty ltd)pCutt pty ltdIGlu pty ltdplenary Group (South Wharf Retail) pty ltdplenary Group (South Wharf Retail) Holdings pty ltdplenary Group (South Wharf Retail) Holdings no. 1 pty ltdplenary Group (South Wharf F&B) pty ltdIglu tC pty ltdplenary Conventions Services pty ltdIglu property tC no. 1 pty ltdGolding Holdings pty ltdGolding Securitisation pty ltdGolding pty ltdplenary education (VIC) pty ltdplenary Justice (SA) Holdings pty ltdplenary Justice (SA) pty ltdplenary environment (Barwon) Holdings pty ltdplenary environment (Barwon) pty ltd

21 Dr Ian GilmourBSc, phDBirmingham


nil 01.01.2005 13.05.2008

22 Mr Ben Foskett BBusRMIT


Director, pathway Services pty ltd (trustee of the pathway Services unit trust)trustee, pathway Services Superannuation Fund Vice-president, Australia China Business Council, Victorian ChapterDirector, Australia latin America Business Council

18.02.2008 18.02.2008

16 17

a neW strateGic plan

strateGic plan 2012–2016over a period of eight months during 2011, Victoria university developed a new Strategic plan to steer the university over the next five years and position it to become a great university of the 21st Century. the new plan builds on the successes of the university’s previous Strategic plan – Making Vu 2016: A Statement of purpose.

Vu's Strategic plan 2012–2016: excellent, engaged and Accessible was created in response to the new demand-driven tertiary market – characterised by increased competition with uncapped funding from both Commonwealth and State-funded programs – that Australia was to enter in 2012. the plan also aims to allow further development of the university’s transnational operations so it can take advantage of the growing opportunities in countries that are increasingly opening their doors to international universities.

the new plan sets the challenge for Vu to become a leading university by world standards in learning and teaching, one that prepares students for the changing world of work and to be confident, creative, ethical and respectful local and global citizens. A new five-year financial strategy was also created to support the plan to ensure Vu is positioned to focus on its core missions (learning and teaching, the student experience and research and knowledge exchange), and to undertake organisational improvements.

the plan includes a new corporate vision and mission for the university (see page 8) and meets the need for a forward-looking agenda to ensure Vu has an overall clear and unified sense of purpose and strategy, and confidence in a great future that incorporates the activities of all its constituent parts.

Vu's Strategic plan 2012–2016: excellent, engaged and Accessible was endorsed by Council in August 2011 and released to the public in november at a function attended by the Hon. peter Hall, Victorian Minister for Higher education and Skills, and Minister responsible for the teaching profession.

Below is a summary of the new plan. A more detailed version of the plan can be accessed at: http://www.vu.edu.au/about-vu/vus-vision/strategic-plan

victoria UniversitY's strateGic plan 2012–2016: eXcellent, enGaGeD anD accessiBle2020 strateGic oBJectives

1. leArning And teAching• VUwillbeanoutstandinglearningandteachinginstitution,recognisedas:

− a leading university by world standards in learning and teaching and the student experience of tertiary students from diverse countries, cultures, socioeconomic and educational backgrounds

− a leading provider in Victoria of the pre-tertiary education for students from diverse backgrounds, especially in the West of Melbourne.

2. reseArch• VUwillbeinthetop20universitiesinAustraliaforresearch,withanemphasison

applied and translational research.

3. knowledege exchAnge• VUwillbeanAustralianleaderinknowledgeexchangewithbusiness,governmentand

the community, to make the world a better place.

4. distinctiVe speciAlisAtionsVu will be:

• internationallyrenownedforitsdistinctivecurriculumandapproachtolearningandteaching, emphasising work-integrated learning, community-integrated learning, learning-integrated work, problem-solving and cross-cultural skills, across all its faculties, covering disciplines, professions and trades in Business, law, Health, engineering, ICt, Science, Arts, education, Human Development, Community and personal Services and technical trades

• wellknownforitsinterdisciplinaryresearch,inthefollowingareas:Education,Lifelonglearning and Workforce Development; Health, Active living and Sport; environmental Sustainability; Cultural Diversity; and the performance and wellbeing of particular places and industries

• ratedasatoraboveworldstandardforresearchinatleast15four-digitdisciplines,relevant to the interdisciplinary themes above. For example, in environmental Sustainability this could include: Civil, Chemical, electrical and environmental engineering, Applied economics and psychology.

• wellknownforitscontributiontoeducation,theeconomy,societyandtheenvironment, particularly in our heartland, the west of Melbourne; the State of Victoria, after which we are named; and timor leste, where we have well established relationships

• wellknownforknowledgeexchangeinparticularindustriesbetweenAustraliaandother countries in the Asia-pacific, particularly, China, India and Malaysia

• nationallyrenowned,andinsomecasesworldrenowned,foritsknowledgeandexpertise in particular focused areas and topics, through its institutes, centres, faculty and cross-faculty groups, and external collaborations in teaching, research and knowledge exchange; becoming world renowned in Sport, exercise and Active living by 2016; and world renowned in at least three other areas by 2020 with the following areas being highly prospective:

− Water and Renewable energy; Food and nutrition

− logistics and Supply Chain Management and Systems

− education, lifelong learning and Workforce Development

− local and Regional, economic, Social and Community Development

− Disease prevention and Management

− Major events

− Creative Arts and Creative Writing.

• anationalleaderineducation,workforcedevelopment,researchandknowledgeexchange in at least five of the following industry clusters:

− Built environment

− Community and Mental Health Services

− Cultural and Creative Industries

− education and early Childhood Development

− Financial Services

− Food Manufacturing

− Health

− law and legal Services

− Sport and Recreation

− tourism and Hospitality

− transport and logistics.

5. A dynAmic orgAnisAtionVu will be well known as a dynamic and prosperous organisation, and an employer and partner of choice.

strateGic pillarsSix strategic pillars will provide the framework for the development of sub-plans, to drive the achievement of Vu’s strategic intent, in an integrated way. these are:

1. the Victoria university Curriculum and Student experience Strategy

2. Victoria university’s Research and Knowledge exchange Strategy

3. Industry, Community and external Affairs Strategy

4. International Strategy

5. organisational Development and Resources Strategy

6. Campus and Infrastructure Strategy.

tarGetsIn implementing the Strategic plan, Vu will aim for a range of ambitious 2020 targets under each of the six strategic pillars to reflect the five strategic objectives.

Vu will also monitor progress towards these targets, with interim targets for 2016 being a particular focus of the five-year Strategic plan.

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facUlties anD schools

the teaching and learning areas of the university are grouped into higher education and vocational education faculties, and Victoria university College, which provides preparatory, bridging and support programs, as well as Victorian Certificate of education (VCe) courses.

Faculties are further divided into schools offering specialist areas of study. Some faculties have their own faculty-based research centres.

hiGher eDUcationfaculty of arts, education and human Development

School of Communication and the Arts

School of education

School of Sport and exercise Science

School of Social Sciences and psychology

Faculty-based research centre:

Centre for Cultural Diversity and Wellbeing

faculty of health, engineering and science

School of Biomedical and Health Sciences

School of engineering and Science

School of nursing and Midwifery

Faculty-based research centres:

Centre for Applied Informatics

Centre for environmental Safety and Risk engineering

Centre for telecommunications and Microelectronics

faculty of Business and law

School of Accounting and Finance

School of International Business

Victoria law School

School of Management and Information Systems

Victoria Graduate School of Business

executive education unit

Sir Zelman Cowen Centre

Faculty-based research centres:

Centre for Strategic economic Studies (CSeS)

Centre for tourism and Services Research (CtSR)

vocational eDUcationfaculty of Workforce Development

School of Business Services

School of Health and Community Services

School of Sport and Science

School of Information technology and Creative Industries

faculty of technical and trades innovation

School of Construction Industries

School of engineering and Industrial training

School of Service Industries

victoria UniversitY colleGeSchool of pathways and transition

School of Foundation, Community and Indigenous programs

School of language and learning

campUses anD sites

Victoria university (Vu) is located in Melbourne, Australia. Melbourne is regarded as the cultural capital of Australia and is consistently voted one of the best places to live in the world.

It is one of the world’s most cosmopolitan cities, with much to offer in culture, parklands, sport and entertainment. It is multicultural, and around a quarter of the population speaks a language other than english at home.

Victoria university has a number of sites across Melbourne’s western region and in the central business district. It also conducts offshore programs for students at sites in China, Asia and Germany.

Footscray park Campus is Vu’s largest campus and almost a quarter of students are enrolled there. overlooking the Maribyrnong River valley, it is the region’s hub for higher education. A $68 million world-class Sport and learning precinct opened at the campus in early 2011 and was recognised by the Australian Institute of Architects as one of the five best public buildings completed in Australia during 2011.

City Flinders Campus is opposite Melbourne’s historic Flinders Street Station and offers a range of business degrees and art, design and multimedia programs. our City Queen site houses the Victoria law School in the heart of Melbourne’s legal district.

the greatest number of vocational education (tAFe) students is enrolled at Footscray nicholson Campus. A new learning Commons offering a range of educational services opened there in 2011.

Vocational education programs in health and beauty are offered at City King Campus, and a range of trade programs at newport and Sunshine Campuses. pre-apprenticeship courses are offered at Melton Campus. the university will close its newport Campus when the new Construction Futures building at Sunshine Campus is completed in 2013.

St Albans Campus offers programs such as nursing, languages, multimedia and early childhood studies. Werribee Campus offers programs such as biotechnology, nutrition, food science and logistics.

Further education and foundation programs offered by the multi-campus Vu College prepare students for entry to vocational and higher education, as well as enabling their full participation in the workplace and community. these include general education, english as a Second language, and foundation and transition courses.

Vu also offers Vet in School (VetiS) programs that allow students at secondary schools across Melbourne to combine their regular studies with practical experience in industry. During 2011, 2811 secondary school students participated in 45 Vu VetiS programs at 77 schools.

the university has also invested significantly in education partnerships with industry and the community. examples include our contribution to the redevelopment of Whitten oval (home of the Western Bulldogs Football Club) and its use as an education facility, and our partnership with Western Health and the university of Melbourne to build a $51.6 million teaching training and Research facility at Sunshine Hospital, which opened in 2011.

campUs DevelopmentsVictoria university has a strategy of developing strong campuses accessible to all students.

priorities for future development are set out in our 2010 Campus Futures Strategy. Immediate construction priorities include:

• theConstructionFuturesprojectatSunshineCampus

• theSport,RecreationandHealthprojectatStAlbansCampus

• anewtrainingclinicatWerribeeCampus

• upgradingofteachingspacesandclassroomsonallcampuses.

In 2011 our Strategic plan included consolidating our presence in Footscray, which includes better integrating the university with the Footscray business centre by seeking to optimise the role of the university in the development of the precinct. It is also focusing on the prospect of co-locating our activities in the City of Melbourne at City Queen Campus.

the university has discussed the future of our Sunbury Campus with the State Government and it is anticipated that in 2012 Vu will call for expressions of interest from parties wishing to purchase the site.

Given our shortage of capital for reinvestment in our facilities, information systems and technology, the university sold a number of non-core properties in 2011. these included:

• theformerWilliamstownPostOffice

• ablockofresidentialapartmentsinFootscray

• acommercialcarparkintheMelbourneCBD.

And an agreement was reached in relation to a long-term lease of surplus land at Sunshine Campus.

In December 2011 the Commonwealth Government announced it would support an initiative directed toward establishing an interprofessional clinic for education in the health sector, with Stage one being a student-led interprofessional education (Ipe) health clinic for public clients at the Werribee Campus.

the Ipe approach will provide structured opportunities for trainee doctors, nurses, paramedics and other professionals to learn and work together in teams, and incorporate new technologies to enable nursing, midwifery, paramedical, psychology, dietetics, dermal therapy, sports and active living, osteopathy, nutritional therapy and social work students to gain a better quality education. Construction of the new facility will commence in 2012.

further informAtionprofessor peter Creamer pro Vice-Chancellor and Chief Information officer +61 3 9919 4918 [email protected]

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oUtstanDinG stUDentsAustralia post postman Brian Duggan was Vu College’s 2011 mid-year valedictorian. Mr Duggan enrolled part time in the Certificate IV liberal Arts program in 2008 because he wanted to “fill the educational void in my life”. He pursued his studies with great passion, achieving outstanding results. His teachers have strongly encouraged him to continue his studies into higher education.

Anthony Gale came to Vu partner Harvester technical College midway through 2010 having completed half of Year 11 at a local high school. He undertook the six-month VIp (Vocational Industry pathways) program in 2010, and in 2011 enrolled in Vu College’s first integrated Vet/VCAl program, the Certificate II in Building and Construction (Carpentry) with a Senior VCAl. Mr Gale consistently developed leadership and practical skills throughout 2011, showing a growth in maturity. He is planning to begin a full-time apprenticeship in carpentry for 2012.

Adult VCe student Jacqueline lampe is studying science and mathematics. Her medium-term academic goal is to do Bachelor of Science degree but has kept her long-term options open by also studying a business subject. She has achieved excellence in all her assessments and exams, as well as being an accomplished leader by mentoring her peers needing help in science, maths and business subjects. Ms lampe is a student representative on the VuC Board of Studies contributing her frank views on matters affecting students.

Student Kate McKay entered Vu’s nursing program in 2008 as a non-Year 12 applicant with no background in science. After failing one subject in her first year, she redoubled her effort and has achieved high results in all subsequent exams. In 2011, her final year, she received six High Distinctions and one Distinction. Ms McKay is currently undertaking a research assistant role and contemplating postgraduate studies. She has also been offered a graduate position at the Alfred Hospital.

third-year Bachelor of Midwifery student, emma Holtom, was nominated in 2011 for an outstanding Student Award by the Australian nursing Federation. Ms Holtom first studied music at the Victorian College of the Arts and the university of Melbourne, but decided to become a midwife after having her first child and realising the importance of having a good midwife. She quickly developed excellent interpersonal skills working with women and their families, and interacting with other midwives and health professionals. She places women and their babies at the centre of attention, ensuring seamless, integrated care is provided. She now has three children and is considering further studies in midwifery, first an honours year followed by a masters.

Jianhua Zhang worked as a chemical engineer in China, but wanting to further his research studies decided to pursue a phD in chemical engineering at Vu. He began his research program in 2008, focusing on recycling seawater and wastewater using membrane distillation. the success of his research saw him become a Research Fellow at Vu’s Institute of Sustainability and Innovation (ISI) where he is currently working on another water treatment project as well as tutoring an undergraduate course in thermodynamics.

nineteen-year-old architectural engineering student Roneel Deo is one of 32 Victoria university students awarded High Achievement Scholarships as an incentive to continue their high marks and progress to further study. Mr Deo grew up on a sugar cane farm in Fiji but had a passion for mathematics and physics. After matriculating last year with the second-highest marks in his homeland, he was offered a scholarship by AusAID to study in Australia and chose Vu. In 2011 he completed the first year of his course. He says the two scholarships have made it possible for him to study without having to work part time. Vu’s High Achievement Scholarships provide students who maintain a grade point average of distinction or higher with $1000 each semester plus a $500 annual book voucher.

Anita Milicevic came to Australia with her young family as a refugee from the Balkans war. over the past seven years she completed a bachelor degree with honours plus a phD, all with high distinctions, while raising her children and working. Ms Milicevic’s hard work and compassion towards others motivated her peers to follow her example and excel in their own studies. She now has a full-time position as lecturer and course co-ordinator of a new course at Chisholm College, the Bachelor of Community Mental Health.

professional Writing student Alison Whan completed her Bachelor of Arts in 2011, receiving 23 High Distinctions and one Distinction. She is a strong contender to receive the School of Communication and the Arts (CAtA) Award for the Most outstanding Final Year undergraduate Student. Ms Whan made an exemplary contribution as a leader and mentor in her role as managing editor of the CAtA publication Offset, an annual magazine produced by final-year professional Writing students.

In 2011, phD student Garry Kuan from the School of Sport and exercise Science received the 2011 Atsushi Fujita Research Student Scholarship Award in recognition of his outstanding research in the field of sport and exercise psychology and motor learning. He received the award at the 6th Asian South pacific Association of Sport psychology International Congress in taipei, taiwan. Mr Kuan’s research involved working with Australian athletes and his phD has made a significant contribution to the development of sport psychology in the Asian-South pacific region.

GraDUationsSixteen graduation ceremonies were held during 2011: 14 at Flemington Racecourse, Melbourne; one at Sunway pyramid Resort, Kuala lumpur; and one at the peninsula Hotel, Beijing.

Vu presented 16,037 awards: 5421 higher education; and 10,616 vocational and further education (tAFe). A total of 79 students received doctorates, with 58 at phD level. Six students received their master degree by research.

honorarY DeGreeA Doctor of laws degree honoris causa was awarded to the Honourable Dr Michael Kirby AC CMG, a former judge of the High Court, at the october graduations. the honorary degree was in recognition of Dr Kirby’s outstanding contribution to the legal profession in Australia and his longstanding championing and advocacy of human rights.

Dr Kirby served as the inaugural chair of the Australian law Reform Commission, Deputy president of the Conciliation and Arbitration Commission and was a judge of the Federal Court before his appointment to the High Court in 1996. He also worked with many international bodies, including the oeCD, the Commonwealth Secretariat and the International Commission of Jurists, and was a commissioner of the World Health organisation’s Global Commission on HIV and the law.

Since his retirement he has continued to be active in international human rights. last year he received the Gruber prize for Justice in recognition of this work, especially in relation to discrimination based on sexual orientation and in the development of human rights law. Dr Kirby has also been a strong supporter of Vu’s Victoria law School.

stUDents

stUDent eXperienceIn 2011, there was an extensive analysis of the results produced via the Student Barometer survey in late 2010, which measured over 6000 student perceptions of arriving, learning, living and support while at Vu. the university gained a greater understanding of the diversity of student experiences, including international, domestic, higher education, vocational education/further education, including a breakdown by faculty and campus.

the results enabled Vu to measure the impact of the 2009–2011 Student experience Strategy, which subsequently generated a series of action plans to improve the student experience. A final report on the implementation of the Student experience Strategy was produced in late 2011 to inform the development of a new Vu Student engagement and Student experience plan as articulated in Vu’s Strategic plan 2012–2016.

social inclUsionA number of strategies were introduced in 2011 to address the issues of social inclusion, including the distribution of a retention tool kit for staff, the development of a strategy for language, literacy and numeracy, and the piloting of a Flag and Follow project. the Flag and Follow project was piloted to identify effective ways of identifying students who are potentially at risk of attrition and following them up with timely, personalised interventions that improve the likelihood of each student being retained and succeeding in their course at Vu. A retention strategy will be developed in 2012.

enhanceD sYstems anD commUnication technoloGiesSignificant preparation was made in 2011 for the university’s new Callista Student Management System – Vu Connect – to go live in April 2012. Vu Connect will be accessible online 24 hours a day, seven days a week. Students will be able to enrol, add or remove units of study, pay fees, print invoices and view their results.

MyVu portal, the university’s teaching and learning portal, serves as a repository and portal for all of the university’s learning and teaching resources. It continued to be upgraded with new personalised channels for students to access their personal information as well as general information and forms. Improved access included increased use of social media technology, as well as piloting a student relationship management tool enabling information provision via online chat, guided assistance and web-enabled information services.

stUDents as staffVu’s Students as Staff program grew considerably during 2011 with over 900 positions filled throughout the year. employment was offered across all areas of the university, such as customer service staff in the Student Service and Sports and Fitness Centres, Rovers in learning Commons to assist fellow students with study, and peer Career Advisers to support student career development activities. In addition, postgraduate students were offered teaching and research positions across a broad range of disciplines.

the Students as Staff program enables students to gain on-campus employment while studying. A recent evaluation indicated that students participating in the program felt a greater sense of connection with university life, an improved attitude to their studies, and more confidence about their future career pathways.

In 2011 Vu and the university of texas in el paso (utep) collaborated to send seven students from each institution to work and study at the partner institution during

Semester 2. the students from utep worked across Student Career Development, Student Connections, Student life, the learning Commons, and the Students as Staff office, and engaged in a wide range of other activities on campus including the Student leadership program and V4u, a community volunteer project.

the systematic employment of students on campus is gaining momentum with Australian universities and Vu is leading a national Community of practice with 20 universities currently represented to share best practice and ongoing research.

learninG facilitiesthe completion of a number of key learning facilities for students enhanced the student experience in 2011. these included the learning Commons and exercise Sport Science precinct at Footscray park Campus. this comprises a major new building as well as renovation of the existing library and cafeteria, creating a new central hub for student activity and learning. A new learning Commons at Footscray nicholson Campus fulfilled a strategic initiative to co-locate services for students and collaborative learning facilities. At St Albans Campus a new Sport, Recreation and Health Centre has commenced construction, and will include a health science wing with teaching and learning spaces for interactive learning as well as a sports and fitness wing.

UniversitY GamesDuring 2011, Vu students experienced much success at regional and national sporting championships. Almost 200 Vu students competed at the Australian university Games held on the Gold Coast, and over 200 students competed at the Southern university Games held in Geelong. Vu returned with nine regional gold medals and two national gold medals.

step Up DaYnew events – ‘scavenger hunts’ and a range of leadership activities – as part of student orientation provided commencing students with the opportunity to socialise with their fellow students and learn where to find help and their way around Vu. over 200 new students participated in the activity, which received the Australian Association of Campus Activities award for ‘Best tertiary education Activity for 2011’.

v4Uon 14 october, more than 250 staff and students volunteered their time and skills to a variety of community-based projects, ranging from working with the elderly to rejuvenating community gardens in Footscray and surrounding suburbs. the event was created to give back and thank the local community that supports the university. organisations involved included YMCA, Salvation Army, Footscray Aged Care, and Maidstone and Braybrook neighbourhood Houses.

stUDent leaDershipIn 2011, more than 200 students participated in the Student leadership program, which provides opportunities for students to develop their personal and professional leadership skills through various programs and activities including the annual student leadership conference and awards, workshops, and volunteering opportunities within Vu and the local community.

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Dr Srikanth Venkatesan, senior lecturer in structural engineering at Footscray park Campus, won a $10,000 Australian learning and teaching Council (AltC) award for his specialised teaching method, which aims to get his students involved in actual projects as soon as they start his course to show them how theory works in real life. Dr Venkatesan, who believes it is important for students to work on real tasks and not just spend time reading textbooks, organised engineering projects for his students with several local councils.

the prestigious 2011 Keith Farrer Award of Merit was awarded to Vu’s professor nagendra Shah by the Australian Institute of Food Science and technology (AIFSt). the award recognises outstanding achievement in food science and technology in research, industry and education, and contributions that further the aims and objectives of the Institute. professor Shah is recognised as a worldwide leader in dairy science.

Dr Caroline Symons won the 2011 Australian Society for Sports History Book Award for her book, ‘the Gay Games: A History’. the Society said the book was a meticulously researched and sophisticated social history that promoted the centrality, as opposed to the marginality of gay, lesbian and transgendered people in global sport. It considered the book to be an engaging narrative that reveals both the lived experiences and personal stories of individuals, groups and communities involved in the organisation and participation of various Games.

In 2011, Vu received grants totalling $993,000 in AltC-funded grants and awards, where Vu is a lead or partner organisation. Grant recipients included:

• ProfessorMaureenRyanisleadingaprojectinpartnershipwithQueenslandUniversityof technology, Charles Sturt university and Museum Victoria. the project team was allocated $219,000 for: 'Collaborative exchanges with museums to engage humanities and education students in experiential learning and citizenship'.

• ProfessorGrahamThorpeisrepresentingVUaspartnerinaDeakinUniversity-led project which also includes the university of newcastle and the university of tasmania. the project team was allocated $220,000 for the project: 'enhancing and assessing group and team learning in architecture and related design contexts'.

• ProfessorsHelenBorlandandRonAdamsarerepresentingVUasapartnerinSwinburne-led project which also includes edith Cowen university, Central Queensland university and the university of Southern Queensland. the project team was allocated $219,000 for the project: 'Developing a toolkit and framework to support new postgraduate research supervisors in emerging research areas’.

• DrMarcelleCacciattoloisrepresentingVUinaCurtin-ledprojectwhichalsoincludesthe university of Western Australia. the project team was allocated $116,000 for the project: 'Applying quality principles to Australian university transnational teaching and learning'.

• JudieKayandLeoniRussellarerepresentingVUinaprojectleadbyGriffithuniversity, which includes the university of Western Sydney, Central Queensland university, Curtin university and Deakin university. the team received $219,000 to develop a framework for Work Integrated learning (WIl) leadership in Australia in the project: ‘leading WIl: distributed leadership approach to enhance work integrated learning outcomes’.

staff

Vu remains a major employer in Melbourne’s west with more than 4,900 continuing, fixed term, casual and sessional staff, an increase from 2010.

sessional stafflike many other Australian universities, there has been an overall increase in the total number of academic and vocational education casual staff at Vu from 2009 to 2011. Sessional staff are a key part of Vu’s workforce, often being the face of Vu to our students. the enhancement of resources and processes to support this group is therefore a high priority.

Following a focus over the last few years on creating a culture at Vu where sessional staff are genuinely integrated, supported, developed and recognised, good practices were introduced whereby comprehensive induction, Community of practice opportunities and mentoring is provided.

However, additional support is still needed, and several projects are underway to further enhance support, develop opportunities and acknowledge the diverse needs and aspirations of sessional and co-ordinating staff.

the streamlining of the pay process for sessional staff through online timesheets has commenced in some areas, and a research project to analyse the impact of sessional staff support and development opportunities on the student experience will start in early 2012. our aim is to enhance the engagement and employment experience of sessional staff and in turn the student experience in line with Vu’s Strategic plan 2012–2016.

hUman resoUrces to people anD cUltUreIn 2011, the Human Resources department changed its name to people and Culture. With the appointment of a new Vice-president, people and Culture in october, the university made a deliberate decision to change its approach to the management and delivery of HR products and services to advance Vu as a university of choice for both students and staff. Vu aims to provide an environment that enables staff and students to perform their best work.

Central to this positioning is to have a clear organisational development strategy to attract, develop and retain staff by having an environment that recognises and rewards great performance. Work has begun on developing the architecture for an organisational development strategy, and an organisation Reform program has commenced which over the next five years will align our support structures more closely to the university’s mission and at the same time realign our academic and general staffing levels. this means reviewing all business support processes and our organisational support structure to ensure these processes are delivered effectively.

staff eQUitY anD DiversitYBuilding on our rich tradition of providing leadership development programs for women, our two gender equity programs were 2011 nominees in the prestigious Diversity at Work Annual employment and Inclusion Awards (Gender Diversity category). Forty-two women graduated from our gender equity programs, many continuing a mentor relationship after realising its value and benefit in the context of tertiary education employment. our 2011 gender equity priorities included a focus on the university’s policy and practices to support flexibility, work/life balance and a family-friendly working environment. At 31 March 2011, 35% of Vu’s Associate professor level positions were held by women for the first time, which meets the national target set by universities Australia to increase women at that level from 24% in 2004 to 35% by 2010. Vu also maintained an impressive equity benchmark in the Vocational education sector where 58% of executive positions are held by women.

the university’s Discrimination, Harassment and Bullying Contact officers network for Staff further developed as a common workplace feature that supports a more inclusive culture for all staff. A new policy was also introduced to support staff members with a disability or medical condition. together with a new online training program to be introduced in 2012, these initiatives aim to improve awareness in managing disability in employment.

Vu continued to encourage the recruitment and career development of Indigenous Australians by providing opportunities to gain professional qualifications, skills and experience. A new online education and awareness training program regarding Indigenous culture is to be launched in early 2012.

ohsto support the university’s Wellbeing program, Vu entered 35 teams (250 participants) in this year’s Global Corporate Challenge. Vu was recognised nationally as the sixth highest ranked education institution in the Challenge.

Although Vu’s WorkCover claims continued their downward trend in 2011, the university’s Workers Compensation premium was significantly impacted by changes introduced by the Accident Compensation Amendment Bill 2009, which was legislated as an Amendment to the Accident Compensation Act 1985 and the Accident Compensation (WorkCover Insurance) Act 1993, and which regulates Victoria’s workers’ compensation scheme. Key changes included increased weekly benefit rates for injured workers, and increased no-fault lump sum benefits.

effective 1 January 2011, Vu transferred its Workers Compensation insurance agent from CGu to Gallagher Basset based on research that Gallagher Basset would deliver a better service, including best practice Return to Work processes, in accordance with the Workers Compensation legislative requirements, and maximise the health and wellbeing of our staff through exemplary claims management.

An extensive Mental Health Awareness program was also introduced to provide large numbers of staff with the skills to enable them to have effective conversations with students and other staff experiencing mental health crises, and to be able to identify and assist those in need.

In 2012, the harmonisation of model oHS laws is due to commence in all states and territories. the new work health and safety laws will create significant changes to the obligations of oHS officers. officers will be required to demonstrate that they have exercised ‘due diligence’ in their oHS obligations, and they will have a duty to do so. In order to address the changes required under legislation, Vu developed an occupational Health and Safety Improvement plan (oHSIp) for the period 2012–2014.

staff achievementspaola Balla won the CAl Award for three Dimensional Works in the 2011 Victorian Indigenous Art Awards. Ms Balla received $5,000 for her small-scale sculptural work titled ‘A little Birdy told Me’, a sculpture of a bird and a small child. Ms Balla, who teaches Indigenous Studies at St Albans Campus, was one of 25 artists shortlisted for a Victorian Indigenous Art Award.

Dietician Dr Regina Belski received one of 16 national Fresh Science awards given to early-career research scientists for her discovery that lupin bean flour improves heart health. Her 12-month study of 130 overweight but otherwise healthy people, undertaken alongside researchers from the university of Western Australia and the Centre for Food and Genomic Medicine, found participants who ate bread, pasta and biscuits in which normal wheat flour was partially replaced with lupin flour had a lower risk of developing heart disease. Dr Belski is just the second Vu academic to win a Fresh Science award.

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table 3: Staffing trends 2009–2011 by employment Category and employment type*

heaDcoUnt onlY 2009 2010 2011

AcAdemics ongoing/continuing 474 478 484

contrAct/fixed term 146 163 196

generAl stAff ongoing/continuing 1024 1078 1132


tAfe teAching ongoing/continuing 432 440 424


senior mAnAgement ongoing/continuing 11 10 5


totAls ongoing/continuing 1941 2006 2045


all staff totals 2532 2607 2760

* As at 31 December in each respective yearnote: Staff occupying multiple jobs at 31 December 2011 have been counted for each individual job within the head count figures. Sixteen staff held multiple jobs at this date.

* As at 31 March 2011 and excluding casual staff.

classification % Women % men

AcAdemic stAff

leVel A 48% 52%

leVel b 52% 48%

leVel c 38% 62%

leVel d 35% 65%

leVel e 18% 88%

total 43% 57%

generAl stAff

HEW 1 – 5 80% 20%

HEW 6 69% 31%

HEW 7 66% 34%

HEW 8 64% 36%

HEW 9 49% 51%

HEW 10 61% 39%

HEW 10+ (incl ExEc’s) 39% 61%

TOTAL 69% 31%

classification % Women % men

VocAtionAl educAtion

teAcher 46% 54%

senior educAtor 1 76% 24%



heAd of school/other 53% 47%

executiVe 58% 42%

total 48% 52%

industriAl skills instructors

instructor 0% 100%

AdVAnced skills instructor 0% 100%

progrAm operAtions mAnAger 0% 100%

totAl 0% 100%

GranD total 58% 42%

Tablecontinuedatright

table 4: Staff by employment Classification and Gender*

staffinG statistics

table 2: Staffing trends 2009–2011 by employment Category*

table 1: Staffing Statistics as at 31 December 2011

heaDcoUnttotals

eQUivalent fUll time (eft)totals

female male female male

acaDemics

ongoing/continuing 194 290 484 186.55 283.17 469.72

contrAct/fixed term 92 104 196 72.39 83.01 155.40

subtotAls 286 394 680 258.94 366.18 625.12

General staff



subtotAls 1024 482 1506 921.51 464.88 1386.39

tafe teachinG



subtotAls 266 284 550 229.24 269.54 498.78

senior manaGement



subtotAls 10 14 24 9.96 13.96 23.92

all staff



GranD totals 1586 1174 2760 1419.65 1114.56 2534.21

note: Staff occupying multiple jobs at 31 December 2011 have been counted for each individual job within the head count figures. Sixteen staff held multiple jobs at this date.

heaDcoUnt anD eQUivalent fUll time (eft) 2009 2010 2011

AcAdEmics HEAdcount 620 641 680

EFt 580.58 597.14 625.12

GEnErAl stAFF HEAdcount 1361 1393 1506

EFt 1258.75 1274.25 1386.39

tAFE tEAcHinG HEAdcount 523 547 550

EFt 469.29 493.09 498.78

sEnior mAnAGEmEnt HEAdcount 28 26 24

EFt 27.92 25.88 23.92

totAls HEAdcount 2532 2607 2760

EFt 2336.54 2390.36 2534.21

* As at 31 December in each respective year note: Staff occupying multiple jobs at 31 December 2011 have been counted for each individual job within the head count figures. Sixteen staff held multiple jobs at this date.

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vU international

overvieWthe office of the Vice-president International oversees the operations of Victoria university International (VuI) and the International Development Centre (IDC).

VuI promotes the university internationally, attracts students to study in Australia, manages the admissions process, and provides support to current and future international students, from initial enquiry through to graduation.

As part of Vu’s offshore Futures Strategy, the IDC was established to expand the university’s offshore program revenue from A$10 million in 2010 to A$25 million by 2016. IDC is responsible for the development and maintenance of Vu’s offshore commercial business activities, collaborating with key areas of the university. the IDC manages the overall relationship between the university and its international partner campuses. It ensures that Vu plans and implements successful and sustainable growth for its offshore international business activities.

international strateGYthe university has developed a new international strategy, led by the office of the Vice-president International, which has been defined as one of the six pillars of Victoria university’s Strategic plan 2010–16.

recent international hiGhliGhtsthe Knight Review of the Student Visa System (released in September 2011) singled out Victoria university’s relationship with liaoning university in China as a window into the different and flexible ways that Australian universities are connecting with international students.

2012 will be Victoria university’s most successful year ever in securing competitive student mobility grants from the Department of education, employment and Workplace Relations (DeeWR). these grants enable Vu to offer overseas opportunities to its students. Vu has secured more than $400,000 in competitive grants from DeeWR for 2012, more than double our previous record.

Victoria university staff members Dr Helen Borland and Dr Amanda pearce were members of the project team that won an International education Association of Australia (IeAA) Award for best practice/innovation in international education. Victoria university contributed to two other IeAA award winners: Vu is a sponsor and a member of the advisory committee of the award-winning City of Melbourne Student Welcome desk; and Vu collaborated on the award-winning project submitted by Victorian tAFe International.

sUmmarY of trenDs in onshore recrUitmentVictoria university offers international students studying in Melbourne the opportunity to enrol in more than 350 courses, ranging from english language courses through tAFe and vocational education courses, to bachelor degrees, masters degrees and phDs.

After a number of years of growth in international student enrolments, 2010 and 2011 have seen a significant downturn in commencing international student numbers at Victoria university and across the tertiary education sector generally.

this sector-wide decline can be attributed to a combination of factors, including the continuing high value of the Australian dollar, changes to the student visa system, and growing competition from other countries, especially the united States and the united Kingdom. A recovery of the market is not predicted until at least 2014.

Victoria university has seen a drop in commencements from its three key markets: China, Vietnam and international students already in Australia. While this decline has been somewhat offset by an increase in commencements from India, the overall trend is downwards, with a decline of 18 per cent in full fee-paying overseas enrolments from 2010 to 2011.

More positively, the number of students coming through partnerships with overseas sponsoring governments and AusAID has increased from 310 in higher education and tAFe for Semester 2, 2010 to 367 in Semester 2, 2011. there has also been an increase (14 per cent) in Study Abroad students from partner universities, primarily from Germany and Mexico.

sUmmarY of offshore partners anD proGramsVictoria university is one of the largest Australian providers of offshore education. It has an extensive network of partner organisations across Asia, europe and Australia. Vu has a 20-year history of teaching its own programs at its offshore/offsite partner campuses.

our offshore students can complete an Australian qualification in their own country, or transfer to Melbourne to complete part or all of their qualification. offshore courses range from certificates in english language, diplomas and bachelor degrees to graduate certificates, graduate diplomas and masters programs. the transfer of offshore students to onshore programs remains a key recruitment channel and will continue as such.

the university’s major offshore cohorts in 2011 were in China and Malaysia.

Victoria university has successfully nurtured long-standing partnerships with institutions that rank among the top 100 universities in China. two significant research Mous were recently signed: with Beijing Jiaotong university (BJtu); and with the prestigious Graduate university of the Chinese Academy of Sciences (CAS) for a joint research laboratory in social computing and e-health.

the first classes in the Master of enterprise Resource planning (MeRp) course commenced in July 2011 at Ahmedabad, Gujarat, India. this is Vu’s first offshore program in India, delivered in partnership with Ganpat university. Discussions are underway with Ganpat university for an additional three masters courses to commence in 2012.

local anD GloBal enterprises anD commUnities

At Victoria university we believe it is critical to build and maintain relationships with the communities in which we operate. these include commercial enterprises, governments, non-government organisations and education providers. these relationships help to strengthen and inform the relevance, quality and impact of our learning, teaching and research activities.

We demonstrated our commitment to engagement in 2011 through a wide range of local and global enterprise and educational collaborative activities.

eDUcational partnershipsVu’s first timorese student enrolled in 2001. Since then more than 120 students from timor-leste have graduated with a Vu award. our alumni include a number of timor-leste politicians and senior public servants, including the present Minister for education.

In 2011, Victoria university consolidated its partnerships with the national university of timor-leste, universidade nasionál timór lorosa'e (untl), and the Dili Institute of technology (DIt). partnership activities with untl have included the joint organisation of a biannual conference on education and development in timor-leste and most recently an Australian leadership Award (AlA) Fellowship program in which five colleagues from untl undertook a nine-week study program at Victoria university while visiting Melbourne. the AlA Fellowships aim to develop leadership, address priority regional development issues, and build partnerships and linkages between Australian organisations and partner organisations in developing countries.

sportWest consortiUmSportWest is a community outreach initiative for a collaborative sport precinct within the Maribyrnong municipality in Melbourne’s west. Initial partners with Victoria university included the Western Bulldogs Football Club and Maribyrnong Secondary College, which offers a specialist sports program to students.

With recent investments in the region of close to $300 million towards sport and recreation education, training, research and infrastructure, and billions more slated for investment over the next 20 years, other locally-based organisations have also become involved in developing SportWest – including leadWest, Western Health, the Victorian Racing Club, the Department of education and early Childhood Development, Industry Groups Australia and the Victorian employers’ Chamber of Commerce and Industry.

SportWest is expected to emerge as a nationally and internationally recognised sporting hub, attracting new business to Melbourne’s west, creating new jobs, and securing future business investment and educational opportunities.

Victoria university’s Institute of Sport, exercise and Active living (ISeAl) is playing an integral role in the development of SportWest.

B-hert aWarDs anD national recoGnitionVictoria university was the recipient of multiple Business/Higher education Round table (B-HeRt) Awards in 2011. the awards recognise outstanding achievements in collaborations between business and higher education in the fields of research and development, and education and training.

Victoria university was awarded the Ashley Goldsworthy Award for Sustained Collaboration between Business and Industry in recognition of Vu’s long-term relationships with a range of groups and organisations in the areas of research, education and training, as well as for Vu’s provision of community support. of particular value have been innovative programs designed to assist disadvantaged groups, particularly migrants and refugees from cultural and linguistically diverse backgrounds.

Victoria university also received the following distinguished B-HeRt awards:

• BestCollaborationwithaRegionalFocusinResearchandDevelopmentorEducationand training was awarded to the Institute for Supply Chain and logistics (ISCl) in recognition of its collaboration and partnership with a number of other tAFe Institutes and organisations for its project on 'Competitive Supply Chain – targeting Skill needs in the Regions'.

• BestHigherEducationandTrainingCollaborationwasawardedtotheAustralianpower Institute Consortium, of which Victoria university is a member and represented by professor Akhtar Kalam.

• AnHonourableMentionwenttoVU’sAustralianCommunityCentreforDiabetes(ACCD) for its Diabetes education and Awareness program of Culturally and linguistically Diverse Communities of Western Melbourne.

further informAtionMs tina Rankovic Associate pro Vice-Chancellor, Knowledge exchange +61 3 9919 5316 [email protected]

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KeY inDUstrY anD commUnitY partners

A key aspect of Victoria university’s Strategic plan 2012–2016, is for the university to be a leader in knowledge exchange with business, government and the community. this status will be achieved through excellence in its contribution towards education, the economy, society and the environment – with a special emphasis on the university’s heartland in the west of Melbourne.

the sharing and exchange of knowledge between Victoria university and our partners will build our capacity for engagement, applied research and industry enterprise education.

WorKinG in partnershipVictoria university is committed to working in partnership with a diverse range of organisations to achieve our overarching goals. our partners are concentrated in Melbourne’s west, but extend state-wide, nationally and internationally, encompassing enterprises, communities, governments, non-government organisations (nGos), tertiary institutions, other research organisations, secondary schools and industry peak bodies.

our partnerships take many forms – formal and informal, local and global – and are of mutual benefit. Such partnerships are characterised by innovation, agility and transparency.

Vu’s faculties, centres and institutes have partnerships with all types and sizes of organisations that ensure Vu’s full range of academic offerings is current and relevant to the needs of industry and community.

our engagement with external stakeholders is grounded in the university’s core activities of learning and teaching, and research.

A formal approach to partnerships has existed at Vu since 2004 and is co-ordinated within the Research and Knowledge exchange portfolio. the office for Research and Knowledge exchange provides the university with a management framework for strategic partnership approaches and opportunities.

broAd progrAm pArtnershipspartnerships that encompass a broad program of strategically aligned connections and collaborations with whole organisations include our lead partners, such as:

• WesternBulldogsFootballClub

• AustralianSportsCommission/AustralianInstituteofSport

• CityWestWater

• WesternHealth

• CommitteeforMelbourne

• LeadWest

With these partnerships we develop Strategic partnership Agreements (SpAs) that include project schedules for activities such as shared use of teaching and training facilities; capacity building opportunities for the community and region; joint external applications for research funding; workplace learning opportunities for students; and the provision of industry experts.

fAculty And institute pArtnershipspartnerships emanating from specific connections to Vu’s faculties or institutes include:

• AustralianIndustryGroup(AIG)

• AdultMulticulturalEducationService(AMES)

• Linfox

• LeCordonBleu

• MalthouseTheatre

• FootscrayCommunityArtsCentre

• Localgovernmentauthorities

• Localschoolsinourregion

Activities include jointly-badged qualifications; collaborative research programs; contracts for skills assessment, training and development; shared use of facilities; shared use of contacts’ networks; mentoring support; and provision of academic merit prizes.

locAlised And personAl relAtionshipsthe vast majority of Victoria university’s engagement takes place at a localised or personal level – within a school, institute or department. It is estimated that Vu’s community has well over 3000 connections to external stakeholders. two examples include:

• WesternEnglishLanguageSchool;whichconnectsnewlyarrivedmigrantyouthtoVUCollege’s School of General education programs and Services

• LocalbusinessesresearchingtradewastewhichlinktoVU’sInstituteofSustainabilityand Innovation

Such relationships often involve activities that arise from referrals and recommendations; community-based action projects; joint recreational opportunities; industrial experience tours for staff and students; and shared use of facilities for research.

inDUstrYVu provides a broad range of services designed to address the needs of industry. our industry programs include consultancy, contract research, and training and support services that can be tailored to suit particular industry sectors. our flexibility in approaching the challenges faced by industry allows for the development of innovative business solutions.

communityVu has developed mutually beneficial relationships with a wide range of external community partners. our objective is to embrace the diversity and dynamism of the university’s local communities, and to assist these communities to build their capacity to meet local, national and international challenges.

FurtHEr inFormAtionMs tina Rankovic Associate pro Vice-Chancellor, Knowledge exchange +61 3 9919 5316 [email protected]

Victoria university’s offshore and offsite campuses are situated in:

AustrAliASydney – education Centre of Australia

chinA Beijing – Beijing Jiaotong university

Beijing – Central university of Finance and economics

Chengdu – Sichuan university (IltC)

Jinan – Shandong Jianzhu university

Kaifeng – Henan university

Shenyang – liaoning university

Zhengzhou – Henan College of Finance and taxation

germAnyAngell Business School

hong kong Chinese university of Hong Kong

indiA Ganpat university

kuwAit Australian College of Kuwait

mAlAysiA Sunway university College (Kuala lumpur)

Sunway university College (Johor Bahru)

singApore lithan Hall

VietnAm Hanoi university

stUDY aBroaD anD eXchanGeWith more than 90 active student exchange agreements across europe, north America, latin America, Asia and the South pacific, Victoria university students have significant opportunities to immerse themselves in a different culture as part of their studies. Vu offers study grants to encourage and support its students to participate in offshore study opportunities.

statement of compliance With esos actVictoria university is committed to meeting the requirements of the education Services for overseas Students (eSoS) legislated framework, including the national Code of practice. Vu’s commitment to quality services and learning experiences for its international students is also evidenced by its continued commitment to university Australia’s Code of practice and Guidelines for Australian universities.

further informAtionMr Andrew Holloway Vice president International +61 3 9919 1271 [email protected]

vU international continued

30 31

research

enGaGeD, cUttinG-eDGe researchResearch activity at Victoria university (Vu) has continued to flourish during 2011, with an increase in national Competitive Grants funding, significant funding from the Community Research network Initiative, and a new round of postdoctoral Research Fellows being employed to work across the major research strengths of the university.

With the advent of Vu’s new Research plan spanning 2012–2016, the number of novel research projects at the university will continue to increase, as will their applicability to help solve specific community, national and global issues.

research institUtes anD centresVu has four research institutes, six research centres and one research group with specialist expertise and capabilities.

Academic staff and researchers in our institutes and centres have diverse capabilities and expertise. they undertake research and provide teaching and learning in higher education, vocational education, and further education. they work collaboratively with the community and industry to achieve excellence in their field and provide real benefits to industry and the community in Australia and overseas.

VU’sresearchinstitutes:

• InstituteforSupplyChainandLogistics(ISCL)

• InstituteofSport,ExerciseandActiveLiving(ISEAL)

• InstituteforSustainabilityandInnovation(ISI)

• VictoriaInstituteforEducation,DiversityandLifelongLearning.

VU’sresearchcentres:

• CentreforAppliedInformatics(CAI)

• CentreforCulturalDiversityandWellbeing(CCDW)

• CentreforEnvironmentalSafetyandRiskEngineering(CESARE)

• CentreforStrategicEconomicStudies(CSES)

• CentreforTourismandServicesResearch(CTSR)

• Work-basedEducationResearchCentre(WERC).

VU’sresearchgroup:

• AustralianCommunityCentreforDiabetes(ACCD).

strenGtheninG research throUGh collaBorative research netWorKsover the next three years, Vu will receive $6.14 million from the Commonwealth Government through the Collaborative Research network (CRn) program. this program is designed to encourage higher education providers to develop their research capacity by collaborating with other institutions in areas of common interest on specific research programs. the CRn program will bring together Vu, the university of Melbourne, Deakin university, edith Cowan university and the CSIRo to undertake research in the key fields of education, active living and water management.

eXcellence in research for aUstraliathe excellence in Research for Australia (eRA) initiative assesses research quality within Australia's higher education institutions using a combination of indicators and expert reviews by committees comprising experienced, internationally-recognised experts. In the latest eRA assessment released in 2011, Vu was rated as ‘above world standard’ in two disciplines, Food Science; and electrical and electronic engineering. Vu was also rated at ‘world standard’ in Applied Mathematics; Human Movement and Sports Science; and performing Arts and Creative Writing.

innovative research in 2011 – sUstaininG oUr commUnities anD environmentmentAl heAlth disorder And stigmAthe School of nursing and Midwifery explored how caregivers within 20 Melbourne families coped with a first episode of psychosis by a young family member. new research led by professor terence McCann revealed that the stigma of psychosis can isolate carers and make them more reluctant to access crucial support, especially in migrant communities.

physicAl ActiVity in melbourne's migrAnt And refugee communitiesResearch by the School of Social Sciences and psychology, and funded by the Scanlon Foundation, revealed migrants and refugees are not only cycling much less than other Melburnians, they are riding much less than they did in their home countries. Dr Siew Fang law surveyed more than 400 Japanese, Vietnamese, Sri lankan and Arab-African people living in Melbourne and found they were riding, on average, eight times less often here than they had back home. this has serious implications for their health.

new leAse of life for industriAl wAstewAterA team of Vu researchers from the Institute for Sustainability and Innovation began working on a membrane-based water treatment system that is likely to revolutionise the treatment of wastewater in industrial settings. the distillation process uses a special type of membrane to extract high-quality water. Funded by the State Government’s Smart Water Fund, this collaborative project is supported by water technology company Integrated elements, City West Water, GWM (Grampians Wimmera Mallee) Water, and Water Quality Research Australia.

protecting VictoriA's mAngroVes And sAlt mArshesA major four-year study by Vu’s Institute for Sustainability and Innovation shows that human impacts and development have destroyed up to 20 per cent of the state’s coastal marshes, and the future looks even bleaker. professor paul Boon led this study which culminated in a 500-page report with recommendations to allow for the inland retreat of mangroves and salt marshes following expected rising sea levels.

better future for children with deVelopmentAl disorders Vu’s Institute of Sport, exercise and Active living is currently researching motor imagery and impairment in children with Development Co-ordination Disorder. postdoctoral Research Fellow, Dr Jacqueline Williams is heading this study supported by the leW Carty Charitable Fund, which aims at assisting the 5–10 per cent of children who have the condition.

innovation anD commercial Development

overvieWVictoria university’s office for Innovation and Commercial Development, part of Vu’s Research and Knowledge exchange portfolio, oversees and supports a wide range of commercial knowledge exchange activities in order to deliver impact and value to industry, government and community organisations.

Vu currently provides a broad range of services designed to address the needs of industry via a collaborative partnership model. Its activities with industry include specialised consultancies, multidisciplinary contract research, industry training solutions and executive education, all of which can be tailored to suit particular industry or government sector needs.

Additionally, Vu’s researchers work to develop novel intellectual property and innovative technologies that have the potential to be further developed in conjunction with an interested industry partner or investor, which can ultimately result in new product development and/or the wider dissemination of that intellectual property.

commercial oUtcomes 2011In 2011, commercial revenues at Victoria university totalled $19.2 million. Fee for service training and education contributed 63% of commercial revenues, while consultancy and contract research contributed the balance of 37%. the university continues to implement its strategy of building a pipeline of high volume, multi-year fee for service and consultancy, and contract research opportunities in order to diversify and grow its revenue base.

intellectUal propertY 2011Identification, protection and commercialisation are all necessary elements in the management of university intellectual property. An important step in 2011 was to promulgate and facilitate understanding by staff and students of the new university Intellectual property policy, which was approved in late 2010.

other key Ip activities in 2011 included the ongoing refinement and implementation of the patent portfolio Management plan for pre-existing patents and the scheduling of Ip training for university staff.

A major highlight of 2011 was the execution of one assignment agreement and two licensing agreements for university intellectual property. the latter included a technology evaluation and licensing agreement with Malladi Drugs and pharmaceuticals ltd of Chennai, India, to commercialise part of Victoria university’s family of patented technologies related to ephedrine manufacture.

fUtUre Directions 2012Victoria university’s Strategic plan 2012–2016, made public in november 2011, places a strong emphasis on the expansion of the university’s knowledge exchange activities. Specifically, that Vu grow its research reputation by further developing its applied and translational research expertise, and aspire to become an Australian leader in knowledge exchange with business, government and the community.

FurtHEr inFormAtionMs tina Rankovic Associate pro Vice-Chancellor, Knowledge exchange +61 3 9919 5316 [email protected]

32 33

WorK-BaseD coUrse DeliverYVictoria university is successfully positioned to meet the skills needs of businesses and communities in Melbourne’s west, delivering a range of services including workforce development planning, skills recognition and customised training – onsite, on campus and online. We provide cost-effective solutions that add value to our clients’ businesses.

through a fully contestable training market in 2011, Vu has maintained market share of public training provision in Victoria and achieved outstanding results in work-based course delivery. enterprise-based enrolments (15% of delivery) were delivered across a large range of industry sectors and workplaces with training at diploma level or higher increasing by almost 15% from 2010. Mature-aged students aged over 25 have also increased by 9% from 2010.

Vu and Western Health have had a mutually beneficial partnership for many years. As both organisations are prominent employers and service providers within the western region of Melbourne, a collaborative relationship was formed to maximise local access to health service facilities and education. the recent development of the new Western Centre for Health Research and education at Sunshine Hospital is demonstrative of the commitment shown by Victoria university and Western Health – in partnership with the university of Melbourne – to promote growth and sustainability of local communities. the opportunity to access state-of-the-art simulation and clinical environments ensures the highest quality of placement and clinical exposure for the large numbers of Vu nursing, midwifery and health science students within the higher education and vocational education sectors.

through a partnership with the RSpCA, Vu delivers training in animal studies in a flexible mode with the face-to-face delivery conducted at the RSpCA education Centre at Burwood east. the RSpCA provides four days of learning in the workplace at their animal welfare centre as part of the delivery model. the course has been specifically designed and developed in collaboration with the RSpCA, and a diploma qualification is being developed for delivery for 2012. For the period of 2009 to 2011 the Veterinary nursing course has almost doubled its intake, which is on the back of an unprecedented increase in demand in 2011. the relationship with the RSpCA allows Vu to grow the delivery by providing additional clinical space.

Vu also delivers a Diploma of Management in partnership with the Department of Human Services (DHS), a qualification attached to the DHS people and Management Development program. participants undergo a Recognition of prior learning (Rpl) process for a Certificate IV in Business and participate in the full delivery of the Diploma qualification. In addition, Vu is currently working with Yooralla to provide training to a number of staff in disability and community services areas.

In 2011, Vu in partnership with toyota Australia was a finalist in the Victorian training Awards category of industry training programs. the school of Business Services at Vu is delivering the Certificate III in Frontline Management, Certificate IV in Frontline Management and Diploma of Management onsite to frontline staff at toyota Australia. iConnect in conjunction with the School of Business Services has joined forces with programmed – an organisation offering workplace solutions to all industry sectors – to deliver highly customised training to programmed staff in the areas of management and frontline management.

A flexible delivery model was developed to incorporate skills recognition using Vu's online Competency navigator, programmed’s customised Rpl toolkit, workplace-based delivery (gap training model) and customised assessments tools.

meetinG WorKforce neeDs

TRADEAPPS:REPOwERINGAPPRENTICEShIPSVu is working with employers and industry to support a culture of competency-based completion and progression in apprentice training. through our tradeApps program we have reinvigorated our apprenticeship curricula to develop an innovative and flexible approach to trades training, designed to meet the needs of industry, enterprises, and our future workforce, including onsite learning and assessment. the tradeApps model is a tailored partnership between the apprentice, the employer and Victoria university, which provides meaningful and engaging work tasks for students, which are quality assured and underpinned by pedagogy and a range of generic skills.

BUIlDINGCONSUlTANCy:DEVElOPINGThEfUTURE workforce with industry In 2011 the innovative Building Consultancy was opened at our newport Campus, as the result of an internal grant and innovative collaborations between industry and our higher education and vocational education sectors. Complete with a six-star sustainable building constructed by our students, the Consultancy operates as a commercial venture providing work-integrated learning opportunities for students in engineering, building surveying and building design. this will support an industry with skill shortages by providing quality, industry relevant training to the next generation of inspired building consultants.

SkIllSRECOGNITION:INClUDING457&GSMVISASkills recognition is a big part of what we do well. the Vu Consortium has been awarded Australian Government tenders for the provision of assessment services for both temporary Worker (457) and General Skilled Migration (GSM) Visas. We have been active in skills assessment in the philippines, united Kingdom, Ireland and China for skills including carpentry, welding, motor mechanics and electrical. We recognise prior learning for domestic students and in international contexts, with a range of overseas projects and partnerships. this personalised and customised approach is reflected in our engagement with all our clients, ranging from self-employed tradespeople with a sole apprentice to government agencies and multinationals with large numbers of staff and a range of workforce development needs.

sunshine construction futures our vision for industry engagement and innovative learning platforms is reflected in the Sunshine Construction Futures training facility under construction at Sunshine Campus with a large grant secured from the Australian Government’s education Investment Fund (eIF). this showcase building, due for completion in 2012, will provide state-of-the-art training facilities to meet the new and emerging educational requirements of the building and construction industries and strengthen links with manufacturing and engineering training co-located at the campus.

workplAce literAcy And numerAcyIn 2011, Vu College delivered Workplace english language and literacy (Well) programs to a number of companies, receiving acclaim for meeting the specific needs of each enterprise. Companies such as BAe Systems in Williamstown and Sugar Australia have expanded their Well programs in 2011 following the success of the initial programs in 2010. this has led to the delivery of broader training programs that embed reading, writing and oral communication skills in the development of workplace skills. Staff literacy, for instance, is developed by assisting staff to participate effectively in team meetings and to meet oHS requirements such as completion of logbooks and safety checklists. All of this has been underpinned by developing the participants’ It skills.

snApshot of reseArch grAnts And AwArds• TheInstituteforSustainabilityandInnovation(ISI)ledbyProfessorStephenGray

was successful in securing almost $2.7 million from the national Centre of excellence in Desalination to work on three innovative research projects. the projects will focus on improving efficiency in groundwater desalination techniques, industry guidelines for regulators and policy makers, and prevention of biological fouling during desalination.

• DrKulmiraNurgalifromtheSchoolofBiomedicalandHealthScienceswasawardeda national Health and Medical Research Council grant of $333,510 for his project, ‘effects of Intestinal Inflammation on Functioning of enteric neurons: From Animal Models to Humans’, which will research inflammatory bowel disease.

• AssociateProfessorBillEckersleyandhisteamfromtheSchoolofEducationsecureda major research grant of $250,000 from the Department of education and early Childhood Development (DeeCD) to establish two School Centres for teaching excellence (SCte) in partnership with primary and secondary schools in the western and northern regions of Melbourne.

• MsBerwynClaytonandAssociateProfessorShelleyGillisfromVU’sWork-basededucation Research Centre (WeRC) were awarded more than $200,000 from the national Centre for Vocational education Research.

• DrLewZipinandProfessorMareeBrennanfromtheSchoolofEducationwereawarded an Australian Research Council Discovery grant of $180,000 for their project, ‘Capacitating Student Aspirations in Classrooms and Communities in a High poverty Region’. the researchers will be investigating student aspirations and access to education in Melbourne’s west.

• DrItamarLevingerfromtheSchoolofExerciseandSportScienceandtheInstituteofSport, exercise and Active living (ISeAl) was recently awarded a Heart Foundation post-Doctoral Fellowship to investigate his project, ‘Bone Remodelling, Insulin Sensitivity and Cardiovascular Risk: effects of exercise’.

• ProfessorTonyMorrisfromtheSchoolofSportsandExerciseSciencereceivedtheeuropean union’s prestigious erasmus Mundas Research Fellowship to visit europe’s leading sports and exercise science research institutions.

• DrCeridwenSparkfromtheSchoolofSocialSciencesandPsychologywasawardedan endeavour Research Fellowship to undertake a research project on how women are negotiating new identities in contemporary papua new Guinea.

reseArch trAiningIn 2011 there was a 10.5 per cent increase in the number of Vu students undertaking higher degrees by research, driven largely by international student growth of 17 per cent this year. Six masters by research students and 78 doctoral students graduated.

Importantly, the overall satisfaction of higher degree research students was 84 per cent according to the university’s current Research experience Survey.

A major milestone for 2011 was the creation of Vu’s research design and statistical support service, which offers workshops to students as well as individual consultations on research design and statistics. postgraduate students may apply for up to five hours of free consultation assistance in their first year of candidature and up to five hours of free assistance during their remaining candidature.

Also new at Vu in 2011 is the research ambassadors program, providing peer-to-peer research support to both research students and staff in quantitative and qualitative research design and data analysis, document formatting, library research databases and research-based software.

More than 30 Vu research students took part in the 2011 three-Minute thesis competition. the winner of the Vu grand final was phD student Geordie Zhang, who went on to compete at the national finals in perth, WA.

the Western Centre for Health Research and education (CHRe) opened at Sunshine Hospital in July. It is the first purpose-built research and training facility for medicine and the health sciences in Melbourne’s west and includes offices, libraries, lecture theatres and laboratories. the $51.6 million Western CHRe was built in partnership with Western Health, Victoria university and the university of Melbourne, with more than $35 million funded by the State and Federal Governments.

international researchDuring 2011, Vu’s research partnerships in China, Brazil and Malaysia were strengthened.

A new world-class social computing and e-health laboratory opened in Beijing. the facility is a collaboration between the Graduate university of the Chinese Academy of Sciences (GuCAS) and Victoria university, and will provide an innovative platform for cross-disciplinary research in information science, health and social computing.

Vu enhanced its research partnerships with China’s Central university of Finance and economics, and Beijing Jiaotong university. Vu introduced an international collaborative research SeeD funding program to support collaborative research with these two Chinese universities. under the partnership, the following disciplines have been supported during 2011: applied economics, accounting, tourism, sports management, information technology and logistics.

Vu developed a strategic research partnership with Brazilian researchers, conducting a sports science research symposium named, towards 2016: Australian and Brazilian Strategies for Success. the symposium attracted leading sports science researchers from Brazil and Australia, including senior researchers from the Brazilian olympic Committee.

Vu also developed a strategic research partnership with university of Malaya in sports science and biomedical disciplines. the two parties signed an Mou and are currently conducting collaborative research.

further informAtionMs Donna Hannan Director, office of Research Services + 61 3 9919 4708 [email protected] www.vu.edu.au/research

research continued

34 35

Development office

Development officeVictoria university’s Development office is responsible for generating philanthropic and sponsorship support for the university, managing the Alumni Relations and Corporate events programs, and overseeing agreements with organisations sponsored by the university. It also assists the university to deliver educational programs of excellence by building a community of loyal, committed and engaged alumni, donors and friends.

In 2011, working closely with the Vu Foundation – a trust established to help preserve, develop and maintain university standards, services and facilities – the Development office raised funds to support a range of initiatives.

the main recipient of fundraising endeavours was the university’s flagship scholarship model, the Victoria university Achievement Scholarships. Since its inception in 2010, more than 130 students have commenced studying at Vu supported by Achievement Scholarships.

Donations were also received in 2011 to establish the David Hay education endowment in Supply Chain and logistics, which will provide funding for a scholarship to support the pursuit of a tertiary qualification in supply chain and logistics. other programs supported by fundraising included the Muna Rahman nursing Scholarship, the International Student Mobility program, the Fiona Myer Art prizes and the purchase of equipment for the Centre for environmental Safety and Risk engineering.

In 2011, the Victoria university Foundation also provided more than $600,000 in funding to support the activities of the Australian Community Centre for Diabetes. this funding was made possible by a donation from a philanthropic trust over a number of years.

further informAtionMs Ros Casey Director of Development and executive Director of the Victoria university Foundation +61 3 9919 1160 [email protected]

alUmniIn 2011, Vu’s alumni community grew from 72,600 to more than 85,000 members. In Melbourne, Vu’s Alumni Relations unit hosted 24 events for alumni, with the most popular being a series of Business Breakfast Club events and a Career Club catering to young alumni and current students in their final year of studies. Internationally, five events were held in Singapore, Kuala lumpur, Ho Chi Minh City, Hanoi and Beijing.

the highlight of 2011 was the inaugural Victoria university Alumni Awards. Awards were made in four categories, Distinguished Alumni, Young Achiever, Honorary lifetime Service and outstanding Student. the judges presented joint awards in two of the categories. the peak award, the Distinguished Alumni Award, was presented to the Victoria State Government treasurer, the Hon. Kim Wells.

fURThERINfORMATION:Ms louise Denton Alumni Relations Manager (Acting) +61 3 9919 1987 [email protected] www.vu.edu.au/alumni-and-donors

corporate eventsthe university’s Corporate events unit manages events hosted by the Chancellor and Vice-Chancellor.

A number of new initiatives were included in the university calendar in 2011, most notably the Chancellor’s lecture Series and the Vice-Chancellor’s lecture, both of which will become annual fixtures.

Social demographer Bernard Salt delivered the inaugural Chancellor’s lecture in April, speaking on the subject, ‘Middle Class on the Move: How Cultural Change is Shaping Melbourne’s West’. the Hon. lindsay tanner, former federal Minister for Finance and now Vice-Chancellor’s Fellow at Victoria university, challenged the audience with his presentation, ‘uni 2.0: Will the Internet Kill universities?’.

professor Yong Zhao, presidential Chair and Associate Dean for Global education, College of education at the university of oregon, gave the first Vice-Chancellor’s lecture in June. Yong Zhao spoke on ‘preparing our graduates to be global entrepreneurs in a digital age’.

the university’s new state-of-the art Sport and learning precinct was officially opened by the Hon. Alex Chernov, Governor of Victoria, in June at an event attended by more than 250 guests. Also in June, Corporate events played a leading role in the official opening of the Western Centre for Health education and Research at Sunshine Hospital, a joint initiative of Western Health, the university of Melbourne and Victoria university.

As part of its industry and community engagement strategy, Victoria university sponsors a small number of organisations whose activities align with the university’s own strategic direction. In 2011, the university’s main sponsors were the Western Bulldogs Football Club, Western Jets Football Club (tAC Cup), Malthouse theatre, Sport Australia Hall of Fame, Footscray Community Arts Centre and local councils in the region.

fURThERINfORMATION:Mr Damian Barber Manager, events +61 3 9919 5491 [email protected]

UnDerGraDUate anD tafe scholarshipsIn 2011 the university awarded 500 scholarships each valued at $1000 to assist undergraduate and tAFe students on low incomes and those who experience other social and financial disadvantages. Vu also awarded a large number of equity and merit scholarships – often in association with other organisations – for undergraduate and tAFe students in financial need. Many external organisations also provided scholarships for Vu undergraduate and tAFe students.

number of 2011 Vu-funded equity Scholarships:

• highereducation–130

• TAFE–263

• postgraduate–7

total value of equity Scholarships: $428,000

further informAtionMs Gladys Britto Scholarships Co-ordinator +61 3 9919 5567 [email protected] www.vu.edu.au/courses/scholarships

In 2011, Vu commenced a Well program for 96 staff at Bosch Australia and assessed another 209 staff with a view to them commencing training in 2012. Vu was recently contracted to undertake a Well program with landVic in 2012.

MEETINGEMERGINGwORkfORCENEEDS:TRENDSTO2011Vu continues to improve on training delivery to industry as demonstrated through a number of key performance indicators. the benefits of industry training has been widely recognised and resulted in the following increases in delivery:

• Deliveryofdiplomaandotherandhigher-levelVETqualifications – up almost 15% on 2010

• Work-baseddelivery–up13%from2010

• Deliverytomature-agelearners–up9%on2010

• Skillsrecognitionisnow10%ofallvocationaldelivery.

further informAtionprofessor Anne Jones Deputy Vice-Chancellor and Director tAFe +61 3 9919 5466 annet.jones.vu.edu.au

learninG in the WorKplace anD commUnitYVictoria university has made a commitment to ensuring that learning in the Workplace and Community (liWC) and Work Integrated learning (WIl) are universal features of all courses as part of its development as a distinctive university.

liWC is an umbrella term that encompasses the many models and integrative approaches to teaching, learning and assessment that involve learning in and through the workplace and community. these liWC models and approaches may include, but are not limited to:

• industryand/orcommunityprojects

• practicalandclinicalplacements

• apprenticeshipsortraineeships

• internshipsandcooperativeeducation

• simulatedandvirtualenvironments.

Aimthe key aims of liWC are to:

• deepenstudents’knowledgeofpracticeinrealisticworkplaceandcommunitycontexts

• furtherdeveloptheiremployabilityandgenericskillsandmakeasignificantcontribution to graduate career and work readiness.

Faculties develop liWC models to ensure they suit the specific needs of their discipline and course learning outcomes, their students, and the industries and communities with which they engage. Faculties may develop a range of liWC activities that students can undertake over the duration of their course, as their knowledge and experience develops.

In 2011 liWC was further enhanced across the university through a range of projects focused on developing staff capability, liWC research, liWC marketing and enhancement of systems and processes to improve the quality of lIWC for students.

Victoria university's national and international reputation in this area was also further augmented in 2011 through Victoria university’s leading role in a range of national projects focusing on Work Integrated learning (WIl). these include two AltC-funded projects, “Measuring the Impact of WIl in Australia” and “WIl leadership in Australia “and the launch of the national WIl portal, a Vu led project funded by DeeWR. In addition Victoria university continues to be a leader in both national and international WIl associations. In addition, Vu staff have been well represented in presenting and publishing in this field.

further informAtionMs Judie Kay Director, learning, Work and Career Development +61 3 9919 4052 [email protected] www.vu.edu.au/learning-in-the-workplace

meeting Workforce needs continued

36 37

learninG anD teachinG statistics

enrolleD stUDents 2009 2010 2011

total 51,344 53,978 51,885

higher educAtion 22,487 24,101 24,643

tAfe (VocAtionAl And further educAtion) 28,857 29,877 27,242

liVing in western melbourne region 23,871 24,979 24,594

– higher educAtion 7,093 7,606 7,867

– tAfe 16,778 17,373 16,727

higher educAtion femAle 12,274 13,221 13,541

higher educAtion mAle 10,213 10,880 11,102

tAfe femAle 13,571 13,683 12,500

tAfe mAle 15,286 16,194 14,742

indigenous 211 229 209

– higher educAtion 45 64 45

– tAfe 166 165 164

disAbility 1,321 1,522 1,708

non–english-speAking bAckground (nesb) 20,816 23,314 22,735

– higher educAtion 9,169 9,926 10,582

– tAfe 11,647 13,388 12,153

coUrse enrolments 2009 2010 2011

higher educAtion undergrAduAte 18,607 19,888 20,368

higher educAtion postgrAduAte 4,627 4,732 4,899

tAfe undergrAduAte 35,871 39,143 37,540

tAfe postgrAduAte 423 147 347

Apprenticeships 2,736 2,526 2,312

trAineeships 1,520 1,513 1,187

internAtionAl 14,768 15,467 13,829

– offshore internAtionAl higher educAtion 3,397 3,864 4,691

– offshore internAtionAl tAfe 6,450 6,584 4,784

– onshore internAtionAl higher educAtion 3,326 3,492 3,176

– onshore internAtionAl tAfe 1,595 1,527 1,178

Vetis 2,157 2,609 2,720

Vetis progrAms 44 38 41

coUrse enrolments 2009 2010 2011

BY onshore campUs

city flinders 5,223 5,201 4,916

city king 2,578 2,693 2,083

city queen 1,419 1,333 1,404

footscrAy nicholson 6,268 7,185 7,172

footscrAy pArk 12,316 13,728 12,736

industry/workplAce 5,174 5,130 6,685

internet 334 316 306

melton 948 788 405

newport 3,185 3,273 3,418

st AlbAns 6,430 7,831 8,664

sunbury* 1,116 32 0

sunshine 4,237 5,306 5,248

werribee 3,739 4,226 4,139

vU fUnDeD eQUitY scholarships

totAl number of scholArships 355 462 400

– higher educAtion 243 251 130

– tAfe 107 206 263

– postgrAduAte 5 5 7

total $ of scholarships 375,000 482,000 428,000

aWarDs presenteD 15,321 14,336 16,037

higher educAtion 5,201 5,525 5,421

tAfe 10,120 8,811 10,616

doctorAtes 72 81 79

mAsters by reseArch 5 11 6

honorAry degrees 4 3 1

VetiS programs Analysis is based on number of tAFe national Courses with Vet in Schools enrolments, determined by Fund source.

snapshot

* Sunbury Campus is no longer offering courses.

staff 2009 2010 2011

totAl∆ 2,532 2,607 2,760

– AcAdemics 620 641 680

– generAl 1,361 1,393 1,506

– tAfe teAching 523 547 550

– senior mAnAgement 28 26 24

∆ Includes continuing and fixed-term staff only. Does not include casual and sessional staff.

In 2011, Vu offered 70 Achievement Scholarships to students from the western region of Melbourne. two Achievement Scholarships are offered annually to every eligible secondary school (currently 50) in the western region of Melbourne: one for the highest achieving Year 12 student enrolling in an undergraduate degree ($5000 per year for up to four years); and one for the highest achieving Year 12 student enrolling in a vocational education (tAFe) course ($2000 per year for up to two years).

postGraDUate research scholarshipsIn 2011, the university continued its successful growth in the number of new research scholarships offered to postgraduate research students. Research scholarships at Vu are funded through a number of sources – government funding, Vu funding and industry or other external funding.

In 2011, Vu offered the following research scholarships:

Vu funded: 68 (27)

Vu funded equity scholarships: 4 (0)

Government funded (ApA and ApAI): 97 (39)

Industry/external funded: 14 (10)

total value of scholarships: $4,059,684 ($1,737,360 for new scholarships in 2011)

total value of Vu-funded scholarships: $1,397,517 ($617,220 for new scholarships in 2011)

equity scholarships were offered to research students in 2011, however all eligible applicants received academic merit scholarships.

further informAtionMs lesley Birch Research training Scheme and Scholarships Co-ordinator +61 3 9919 5014 [email protected] http://research.vu.edu.au

Development office continued

38 39

stUDents With a DisaBilitYtotal stUDent enrolments BY DisaBilitY iDentifier

2009 2010 2011

DisaBilitY iDentifier he no. tafe no. total % he no. tafe no. total % he no. tafe no. total %

no reported disAbility 22,091 27,932 97.4% 23,648 28,808 97.2% 24,052 26,125 96.7%

reported disAbility 396 925 2.6% 453 1,069 2.8% 591 1,117 3.3%

total reportaBle stUDents 22,487 28,857 100% 24,101 29,877 100% 24,643 27,242 100%

note: this analysis is based on All Reportable Student enrolments. Students with a disability are self-identified.

tafe nUmBer of reportaBle coUrse enrolments

2009 2010 2011

facUltY no. % no. % no. %

technicAl And trAdes innoVAtion 13,189 36.3% 13,985 35.6% 12,515 33.0%

Vu college 9,549 26.3% 10,304 26.2% 10,681 28.2%

workforce deVelopment 13,569 37.4% 15,006 38.2% 14,703 38.8%

total coUrse enrolments 36,307 100% 39,295 100% 37,899 100%

note: this analysis is based on All Reportable Course enrolments and measures the number of course enrolments. Measuring the number of course enrolments means that any student enrolled in two courses is counted twice, any student enrolled in three courses is counted three times and so on.

inDiGenoUs stUDentstotal stUDent enrolments BY aUstralian inDiGenoUs iDentifier

2009 2010 2011

aUst. inDiGenoUs iDentifier he no. tafe no. total % he no. tafe no. total % he no. tafe no. total %

of AboriginAl And torres strAit islAnder

0 12 5.7% 0 12 5.2% 2 6 3.8%

of AboriginAl origin 44 135 84.8% 63 134 86.0% 41 149 90.9%

of torres strAit islAnder origin 1 19 9.5% 1 19 8.7% 2 9 5.3%

total stUDent enrolments 45 166 100% 64 165 100% 45 164 100%

note: this analysis is based on All Reportable Student enrolments.

hiGher eDUcation nUmBer of reportaBle coUrse enrolments

2009 2010 2011

facUltY no. % no. % no. %

Arts, educAtion And humAn deVelopment

6,559 28.2% 7,411 30.1% 8,041 31.8%

business And lAw 11,678 50.3% 11,923 48.4% 11,858 46.9%

heAlth, engineering And science

4,835 20.8% 5,117 20.8% 5,178 20.5%

uniVersity 162 0.7% 169 0.7% 190 0.8%


note: Higher education Student enrolments were updated in line with submissions of DeeWR Revision files.

enrolments BY facUltYstUDent enrolments

stUDY Year total hiGher eD tafe

2009 51,344 22,487 43.8% 28,857 56.2%

2010 53,978 24,101 44.6% 29,877 55.4%

2011 51,885 24,643 47.5% 27,242 52.5%

% difference 2.2% -8.8%

stUDent loaD [eftsl/sch]

2010 2011

sectorno. of

reportaBle stUDents

reportaBle sch

reportaBle eftsl

no. of reportaBle

stUDents

reportaBle sch

reportaBle eftsl

% eftsl Difference

tAfe (Vefe) 29,877 13,393,639 19,133.8 27,242 12,347,408 17,639.2 -7.8%

higher ed (he) 24,101 18,041.8 24,643 18,380.2 1.9%

total loaDs 53,978 13,393,639 37,175.6 51,885 12,347,408 36,019.4 -3.1%

stUDent enrolments anD loaD

note: tAFe Students decreased by 8.8%, Higher education student numbers increased by 2.2% over the period 2010–2011. Higher education Student Course enrolments has been updated in line with submissions of DeeWR Revision files.

note: Higher education delivery increased by 1.9% and tAFe delivery decreased by 7.8% over the period 2010–2011. Figures used to calculate variation were Student Contact Hours for tAFe and equivalent Full time Student load for He. % Difference formula: (increased amount–original amount)/original amount. this would look like (360–345)/345 x 100. the answer is 4.3. Vocational and Further education unit of study enrolment load [SCH] is converted to eFtSl using the conversion rate of 700 SCH = 1 eFtSl. Reportable load has been updated in line with submissions of DeeWR Revision files.

total vU reportaBle stUDents BY Western melBoUrne reGion inDicator

2009 2010 2011

Western melBoUrne reGion inDicator no. % no. % no. %

other regions 15,769 30.7% 17,158 31.8% 16,778 32.3%

oVerseAs 10,345 20.1% 10,831 20.1% 10,407 20.1%

unknown 1,359 2.6% 1,010 1.9% 106 0.2%

western region of melbourne 23,871 46.5% 24,979 46.3% 24,594 47.4%

total reportaBle stUDents 51,344 100% 53,978 100% 51,885 100%

note: this analysis is based on All Reportable Students.

home resiDence – Western melBoUrne reGion inDicator

total nUmBer of reportaBle stUDent enrolments BY GenDer

2009 2010 2011

GenDer no. % no. % no. %

femAle 25,845 50.3% 26,904 49.8% 26,041 50.2%

mAle 25,499 49.7% 27,074 50.2% 25,844 49.8%


note: this analysis is based on All Reportable Student enrolments.

GenDer DistriBUtion

learning and teaching statistics continued

40 41

vocational anD fUrther eDUcation coUrse enrolments BY apprentice/trainee

2009 2010 2011

tafe apprentice profile no. % no. % no. %

Apprenticeship 2,736 64.3% 2,526 62.5% 2,312 66.1%

trAineeship 1,520 35.7% 1,513 37.5% 1,187 33.9%


note: this analysis is based on All Reportable Course enrolments and measures the number of course enrolments. Measuring the number of course enrolments means that any student enrolled in two courses is counted twice, any student enrolled in three courses is counted three times and so on.

apprentices anD trainees

total coUrse enrolments BY site (onshore)

2009 2010 2011

onshore he no. tafe no. total % he no. tafe no. total % he no. tafe no. total %

city flinders 3,786 1,437 9.9% 4,032 1,169 9.1% 4,003 913 8.6%

city king 22 2,556 4.9% 9 2,684 4.7% 0 2,083 3.6%

footscrAy nicholson 3 6,265 11.8% 222 6,963 12.6% 260 6,912 12.5%

footscrAy pArk 11,394 922 23.3% 12,384 1,344 24.1% 12,260 476 22.3%

industry/workplAce/flex ed 5,174 9.8% 5,130 9.0% 6,685 11.7%

internet (AustrAliA) 270 64 0.6% 176 140 0.6% 205 101 0.5%

melton 734 214 1.8% 567 221 1.4% 0 405 0.7%

newport 3,185 6.0% 3,273 5.7% 3,418 6.0%

city queen 1,408 11 2.7% 1,296 37 2.3% 1,332 72 2.5%

st AlbAns 4,156 2,274 12.1% 5,007 2,824 13.7% 5,354 3,310 15.2%

sunbury 613 503 2.1% 2 30 0.1% 0 0 0.0%

sunshine 4,237 8.0% 5,306 9.3% 5,248 9.2%

werribee 556 3,183 7.1% 462 3,764 7.4% 427 3,712 7.2%

total coUrse enrolments 22,942 30,025 100% 24,157 32,885 100% 23,841 33,335 100%

note: this analysis is based on All Reportable Course enrolments and measures the number of course enrolments. Measuring the number of course enrolments means that any student enrolled in two courses is counted twice, any student enrolled in three courses is counted three times and so on. Double counting can occur if a student is enrolled at a different teaching location in different semesters, has a different fund source in different semesters and so on.

coUrse enrolments BY site – onshore

total stUDent enrolments BY non-enGlish speaKinG BacKGroUnD iDentifier

2009 2010 2011

non-enGlish speaKinG BacKGroUnD iDentifier

no. % no. % no. %

non-english speAking 20,816 40.5% 23,314 43.2% 22,735 43.8%

speAks english only 20,775 40.5% 26,867 49.8% 28,736 55.4%

unknown 9,753 19.0% 3,797 7.0% 414 0.8%


note: this analysis is based on All Reportable Student enrolments. non-english speaking students are self-identified.

non-enGlish speaKinG BacKGroUnD (nesB)

hiGher eDUcation coUrse enrolments BY aUstralian QUalification levels

2009 2010 2011

QUalification no. % no. % no. %

higher degree – reseArch 707 3.0% 770 3.1% 815 3.2%

higher degree – coursework 2,643 11.4% 2,598 10.6% 2,665 10.5%

other postgrAduAte 1,214 5.2% 1,324 5.4% 1,393 5.5%

bAchelor/undergrAduAte 17,959 77.3% 19,379 78.7% 19,879 78.7%

enAbling/non-AwArd 711 3.1% 549 2.2% 515 2.0%


note: Higher education student enrolments were updated in line with submissions of DeeWR Revision files. note: this analysis is based on All Reportable Course enrolments. this document measures the number of course enrolments. Measuring the number of course enrolments means that any student enrolled in two courses is counted twice, any student enrolled in three courses is counted three times and so on.

tafe coUrse enrolments BY aUstralian QUalification levels

2009 2010 2011

QUalification no. % no. % no. %

grAduAte certificAte 423 1.2% 147 0.4% 347 0.9%

AdVAnced diplomA 1,660 4.6% 1,962 5.0% 2,043 5.4%

diplomA 7,702 21.2% 7,824 19.9% 8,571 22.6%

certificAte iV 4,726 13.0% 5,933 15.1% 5,528 14.6%

certificAte iii 11,075 30.5% 11,730 29.9% 9,130 24.1%

certificAte ii 5,416 14.9% 5,782 14.7% 5,439 14.4%

certificAte i 1,297 3.6% 2,177 5.5% 3,285 8.7%

other non-AwArd courses 1,615 4.4% 1,556 4.0% 980 2.6%

stAtement of AttAinment 2,380 6.6% 2,179 5.5% 2,564 6.8%


note: this analysis is based on All Reportable Course enrolments. this document measures the number of course enrolments. Measuring the number of course enrolments means that any student enrolled in two courses is counted twice, any student enrolled in three courses is counted three times and so on.

enrolments BY coUrse level


42 43

occUpational health anD safetY

2011 saw the completion of Vu’s occupational Health and Safety (oHS) Improvement plan (oHSIp) for the period 2009 – 2011. Achievements of the plan included the completion of tendering for new emergency preparedness training, psychosocial skills training for the university community, and improvements to oHS data reporting with the development of a new online excel Incident report form to be introduced in early 2012.

Victoria university entered 35 teams (nearly 250 participants) in the 2011 Global Corporate Challenge. Based on the World Health organisation’s recommended 10,000 steps a day, the challenge is designed to increase the physical and mental health and wellbeing of employees around the world. Vu ranked sixth of all Australian education institutions with participants taking an average of 12,391 steps per day.

the number of Vu’s WorkCover claims remained almost static over 2009 – 2011, although there has been a decrease in the claims cost to the university.

the introduction of a new national oHS system to apply to all states and territories will create significant changes to the oHS obligations of officers. Due to commence on 1 January 2012, the introduction of the new oHS Harmonisation of Model laws has been temporarily delayed.

the changes required under the new legislation have been addressed in Vu’s new occupational Health and Safety (oHS) Improvement plan (oHSIp) for the period 2012–2014.

to assist with the transition to the national oHS system, Victoria university’s oHS team will engage with the university community to assist staff understand their oHS responsibilities and obligations. this engagement will take place via campus-wide open forums for all staff at each campus, meetings with managers and senior management, oHS Committee meetings, the Vu oHS website and email.

the oHSIp 2012–2014 supports the university’s strategic direction and priorities detailed in Vu’s new Strategic plan, ‘Making Vu 2016: Statement of purpose and Victoria university's Strategic plan for 2012 – 2016, excellence, engagement and Accessibility’.

YearnUmBer phYsical claims

nUmBer psYcholoGical

claims

claims cost

phYsical

insUrer’s estimate phYsical

Gross phYsical

claims cost psYcholoGical

insUrer’s estimate

psYcholoGical

Gross psYchol.

total claims


total cost of claims

2005 47 10 $463,168 $45,371 $508,239 $459,679 $24,258 $478,893 57 $69,629 $987,132

2006 42 10 $627,501 $313,344 $744,092 $401,339 $282,264 $681,778 52 $595,608 $1,425,870

2007 34 8 $580,146 $235,593 $802,965 $392,085 $12,325 $403,900 42 $247,918 $1,206,866

2008 41 5 $213,944 $214,020 $425,189 $112,676 $44,455 $157,125 46 $258,475 $582,314

2009 33 8 $363,889 $518,519 $871,005 $496,192 $1,000,938 $749,107 41 $1,519,457 $1,620,112

2010 29 9 $419,674 $685,015 $1,087,009 $467,346 $739,006 $988,397 38 $1,424,021 $2,075,406

2011 29 11 $206,375 $837,185 $785,506 $133,305 $713,647 $612,177 40 $1,550,832 $1,397,683

Claims Cost Physical Insurer’s EstimatePhysical

Gross Physical Claims CostPsychological

Insurer’s EstimatePsychological

Gross Psychological Insurer’s Estimate Total Cost of Claims0

500000

1000000

1500000

2000000

2500000

WorKcover statistics 2005–2011

hiGher eDUcation anD tafe international stUDent enrolments BY offshore/onshore site

2009 2010 2011

site he no. tafe no. total % he no. tafe no. total % he no. tafe no. total %

offshore 3,263 4,748 63.1% 3,719 4,433 63.1% 4,486 3,063 64.3%

onshore 3,229 1,458 36.9% 3,417 1,341 36.9% 3,121 1,063 35.7%

total stUDent enrolments 6,492 6,206 100% 7,136 5,774 100% 7,607 4,126 100%

total coUrse enrolments BY offshore/onshore site

2009 2010 2011

site no. % no. % no. %

offshore 9,847 66.7% 10,448 67.6% 9,475 68.5%

onshore 4,921 33.3% 5,019 32.4% 4,354 31.5%


note: Double counting can occur if a student is enrolled at a different teaching location in different semesters, has a different fund source in different semesters and so on. this analysis is based on All Reportable Course enrolments and measures the number of course enrolments. Measuring the number of course enrolments means that any student enrolled in two courses is counted twice, any student enrolled in three courses is counted three times and so on.

international stUDent anD coUrse enrolments BY site – onshore/offshore

total stUDent enrolments BY aGe GroUp

2009 2010 2011

aGe GroUp he no. tafe no. total % he no. tafe no. total % he no. tafe no. total %

17 And under 577 4,003 8.9% 503 4,431 9.1% 442 3,756 8.1%

18–20 7,652 9,409 33.2% 8,139 9,302 32.3% 7,901 7,786 30.2%

21–22 4,565 2,742 14.2% 5,320 2,813 15.1% 5,515 2,787 16.0%

23–24 2,607 1,291 7.6% 2,632 1,459 7.6% 2,800 1,356 8.0%

25–29 2,876 2,402 10.3% 3,203 2,667 10.9% 3,446 2,506 11.5%

30–39 2,542 3,725 12.2% 2,593 4,027 12.3% 2,849 3,802 12.8%

40–49 1,128 3,264 8.6% 1,138 3,106 7.9% 1,129 3,154 8.3%

50–59 464 1,672 4.2% 491 1,714 4.1% 467 1,725 4.2%

60 And oVer 76 349 0.8% 82 358 0.8% 94 370 0.9%

total reportaBle stUDents 22,487 28,857 100% 24,101 29,877 100% 24,643 27,242 100%

enrolments BY aGe GroUp

tafe reportaBle vetis stUDents BY fUnD soUrce

2009 2010 2011

fund source (unit) no. no. no.

Vet in schools 2,157 2,609 2,720

total reportaBle stUDents 2,157 2,609 2,720

note: this analysis is based on All Reportable Students by Fund Source.

stUDY Year nUmBer of vetis proGrams

2009 44

2010 38

2011 41

note: this analysis is based on the number of tAFe national courses with Vet in Schools enrolments, determined by fund source.

vet in schools (vetis)

note: this analysis is based on All Reportable Course enrolments


4545

fees anD charGes

hiGher eDUcation feesthere are two types of higher education fees:

• StudentContributionAmounts–forlocalstudentsenrolledinaCommonwealthSupported place

• TuitionFees–forstudentsenrolledinafull-feepayingplace:

1. international students pay tuition fees as stated in their invoice. Fees are calculated based on the year of commencement. A list of international fees is available at http://vu.edu.au/international/

2. local students who enrol in a full-fee place are required to pay tuition fees.

Details of student contribution amounts and tuition fees for local students are available each year in the Victoria university Fee Guide at: http://www.vu.edu.au/future_students

statement of receipts anD paYment of the General service fee for the Year enDeD 31 DecemBer 2011under the terms of the Education and Training Reform Act 2006, the governing body of a post-secondary education institution must ensure that the institution’s annual report under the Financial Management Act 1994 that is submitted to the Minister includes a statement about compulsory non-academic fees, subscriptions and charges payable in the preceding financial year. effective 1 July 2006, the university has not levied (in accordance with the Higher Education Support Amendment (Abolition of Compulsory up-front Student Union Fees) Act 2005 legislation) any compulsory non-academic fees, subscriptions and charges. In 2011, student essential services have been funded by the university.

tafe (vefe) stUDent feesGovernment-funded eligible students in a Vocational education/Further education course who are continuing in the same course, and which commenced prior to 1 July 2009 with no unapproved break in study, are charged fees under the previous fee regime referred to as fee maintenance rates, which are listed below. this fee regime will apply until 31 December 2012 or until the course is completed (whichever occurs earlier).

Government-funded eligible students commencing study from 1 July 2009 will be charged Vocational education/Further education course fees that fit into one of five course categories:

• Foundation(basicgeneraleducation,Englishlanguageandpreparatorycourses, VCAl [foundation])

• Skillscreation(CertificateIandII,VCE,VCAL[IntermediateandSenior])

• ApprenticeshipsandTraineeships(anycoursetakenaspartofatrainingcontract,atany level)

• Skillsbuilding(CertificateIIIandIV)

• Skillsdeepening(Diploma,AdvancedDiploma,GraduateCertificateor Graduate Diploma)

the fee paid is aligned to the course category. the table below demonstrates how government-funded Vocational education/Further education fees are calculated:

coUrse cateGorY fee per stUDent contact hoUrs minimUm fee (*) concession fee maXimUm fee

feeMaintenance $1.43 $57.00 $57.00 $916.00

foundation $1.08 $50.00 $50.00 $500.00

SkillsCreation $1.51 $105.00 $105.00 $875.00

SkillsBuilding $1.84 $187.50 $187.50 $1,250.00

SkillsDeepening $3.79 $375.00 $100.00 $2,000.00

Apprenticeships $1.40 $58.00 $58.00 $923.00

Traineeships $1.84 $187.50 $187.50 $1,250.00

*skills Deepening concessions this concession rate only applies to students who are eligible for a government-funded place and are:• enrolledinaDiplomaorAdvancedDiplomain2011,and• lessthan25yearsofageon1January2011,AnD ARe eItHeR:• aCommonwealthHealthCarecardholderortheirdependentchildordependentpartner• aPensionerConcessioncardholderortheirdependentchildordependentpartner• aVeterans’Goldcardholderortheirdependantchildordependantpartner.

44

Comparison of Claims Cost – physical and psychological

Year nUmBer phYsical claims

claims cost phYsical

insUrer’s estimate phYsical

nUmBer psYcholoGical

claims

claims cost psYcholoGical


psYcholoGical

2005 47 $463,168 $45,371 10 $459,679 $24,258

2006 42 $627,501 $313,344 10 $401,339 $282,264

2007 34 $580,146 $235,593 8 $392,085 $12,325

2008 41 $213,944 $214,020 5 $112,676 $44,455

2009 33 $363,889 $518,519 8 $496,192 $1,000,938

2010 29 $419,674 $685,015 9 $467,346 $739,006

2011 29 $206,375 $837,185 11 $133,305 $713,647

nUmBer of WorKcover claims BY Year

yeAr totAl clAims

2005 57

2006 52

2007 42

2008 46

2009 41

2010 38

2011 40

0

200

400

600

800

1000

INSURER’S ESTIMATE PHYSICALCLAIMS COST PHYSICAL CLAIMS COST PSYCHOLOGICAL INSURER’S ESTIMATE PSYCHOLOGICAL

$000’s

occupational health and safety continued

46 47

reportinG on UniversitY associates anD commercial ventUres

the details of the university’s subsidiary companies are as follows:

income statement

Name PrincipalActivities Domicile Ownership

interest

TotalRevenue2011

TotalRevenue2010

TotalExpenditure2011

TotalExpenditure2010

Tax/ExtraOrdItems2011

Tax/ExtraOrdItems2010

OperatingResult***2011

OperatingResult***2010

contri’n to Unioperatingresults***2011

contri’n to Unioperatingresults***2010

% $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000

VictoriaUniversityfoundationltd*

Trusteeforthetrust Australia 100% - - - - - - - - - -

VictoriaUniversityfoundationTrust

fundraisingforVu

Australia 100% 1,119 1,002 1,218 1,049 - - (99) (47) (99) (47)

VictoriaUniversityEnterprisesPtyltd

AdministersIPfromresearchrelatedspin-offcompanies

Australia 100% - - 3 6 - 1 (3) (7) (3) (7)

VictoriaUniversityofTechnology(Singapore)Pteltd

hubforSingaporeactivities

Singapore 100% 521 640 506 540 (1) 8 16 92 16 92

VictoriaUniversityInternationalPtyltd

Dormant Australia 100% - - - - - - - - - -

total – University associates and commercial ventures

1,640 1,642 1,727 1,595 (1) 9 (86) 38 (86) 38

* Victoria university Foundation ltd, a company limited by guarantee, acts as trustee of Victoria university Foundation.** Company has $2 share capital, which is represented in its cash assets.*** Before other economic flows included in the net result.**** Company has shareholdings in a research spin-off company, which is valued at a nominal value of $1. Hence, the total asset value at 31 December is $1.

Balance sheet

NameworkingCapital2011

workingCapital2010

PhysicalAssets 2011

PhysicalAssets 2010

TotalAssets 2011

TotalAssets2010

InternalBorrowings2011

InternalBorrowings2010

ExternalBorrowings2011

ExternalBorrowings2010

Totalliabilities2011

Totalliabilities2010

Equity2011 Equity2010

$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000

VictoriaUniversityfoundationltd. - - - - - - - - - - - - - -

VictoriaUniversityfoundationTrust* 4,560 4,659 28 28 4,615 5,091 - - - - 26 404 4,589 4,687

VictoriaUniversityEnterprisesPtyltd****

- 3 - - - 8 - - - - - 5 - 3

VictoriaUniversityofTechnology(Singapore)Pteltd

270 257 - - 447 915 - - - - 177 658 270 257

VictoriaUniversityInternationalPtyltd**

- - - - - - - - - - - - - -

total – University associates and commercial ventures

4,830 4,919 28 28 5,062 6,014 - - - - 203 1,067 4,859 4,947

attestation on compliance With the aUstralian/neW ZealanD risK manaGement stanDarDI, peter Dawkins (Vice Chancellor and president) certify that Victoria university has risk management processes in place consistent with the Australian/new Zealand Risk Management Standard and an internal control system is in place that enables the executive to understand, manage and satisfactorily control risk exposures. the Audit & Risk Committee verifies this assurance and that the risk profile of Victoria university has been critically reviewed within the last 12 months.

peter Dawkins Vice-Chancellor and president Victoria university

15 november 2011

statement on risK manaGement stAtement on risk mAnAgement Risk management is an integral part of sound corporate governance practice. It encompasses the identification and assessment of risks across the university, the adoption of appropriate risk mitigation strategies to effectively manage risks and regular monitoring, reviewing and reporting of risks. this ensures Victoria university is proactively working towards a robust risk management framework.

Victoria university has implemented policies and procedures to ensure a culture of risk management is in place and integrated as part of the university’s strategic planning cycle. the university’s risk management strategy includes:

• LeadershipbytheVice-ChancellorandtheVice-Chancellor'sdirectreports,overviewby the Vice-Chancellor Advisory Committee and oversight by the Audit and Risk Committee to ensure robust risk management practices operate throughout the university;

• TheongoingdevelopmentandimplementationofaUniversity-wideriskmanagementplan including the development of risk registers and risk plans for each risk;

• IdentificationoftheUniversity’shigh-levelrisksbytheUniversity’sseniormanagement team and via the strategic planning process – ensuring that high-level risks are linked to the university’s strategic objectives;

• RegularmonitoringofrisksandprogressreportstotheVice-chancellorandtheAuditand Risk Management Committee on the implementation of action plans developed to mitigate risks;

• Providingriskmanagementtrainingtoallstaffonhowtoidentify,assess,mitigate,report and review risks in accordance with the Vu risk management policy;

• Thedevelopmentofarisk-basedstrategicinternalauditplanthatisalignedwiththeuniversity’s high-risk register; and

• AuditandRiskManagementCommitteeoversightofUniversityrisks,whichincludesa holistic approach to monitoring the university’s risk management policy, its systems and processes.

the university’s overall risk management strategy in relation to its associates and commercial ventures are as follows:

• Soundbusinessplanningprocesses;

• Prudentfinancialmanagement;

• Engagementwithreputableinstitutionsandstakeholders;

• Theemploymentofqualifiedpersonnel;

• Year-endfinancialaudits;and

• RegularreportingtotheResourcesCommittee.

the table below provides a summary of the extent and nature of the risk for associates and commercial ventures.

statement on risK manaGement

associate/commercial ventUre principal oBJects level of financial risK level of repUtation risK

VictoriaUniversity(Singapore)Pteltd Provideeducationalservices low low

VictoriaUniversityfoundation Providesupportforeducationalservices low low

VictoriaUniversityfoundationltd ToactastrusteeoftheVictoriaUniversityfoundation low low

VictoriaUniversityEnterprisesPtyltd Provideeducationalservices low(didnottradein2011) low

VictoriaUniversityInternationalPtyltd Provideeducationalservices low(didnottradein2011) low

48 49

WhistleBloWers protection proceDUres

Victoria university is committed to ensuring full compliance with the aims and objectives of the Whistleblowers Protection Act 2001 (the Act). It does not tolerate improper conduct by its staff, officers and Council members, nor the taking of reprisals against those who come forward to disclose such conduct. the university will take all reasonable steps to protect people who make such disclosures from any detrimental action in reprisal for making the disclosure.

It is conscious of the rights of persons against whom allegations might be made and has a policy to afford the subject natural justice. Victoria university’s Whistleblowers protection procedures were established in accordance with the Act.

activitY in 2011activitY nUmBer

Thenumberandtypesofdisclosuresmadetothepublicbodyduringtheyear. 11*

ThenumberofdisclosuresreferredduringtheyearbythepublicbodytotheOmbudsmanfordeterminationastowhethertheyarepublicinterestdisclosures. one

ThenumberandtypesofdisclosedmattersreferredtothepublicbodyduringtheyearbytheOmbudsman. Nil

ThenumberandtypesofdisclosedmattersreferredduringtheyearbythepublicbodytotheOmbudsmantoinvestigate. Nil

ThenumberandtypesofinvestigationsofdisclosedmatterstakenoverbytheOmbudsmanfromthepublicbodyduringtheyear. Nil

ThenumberofrequestsmadeunderSection74duringtheyeartotheOmbudsmantoinvestigatedisclosedmatters. Nil

Thenumberandtypesofdisclosedmattersthatthepublicbodyhasdeclinedtoinvestigateduringtheyear. Nil

Thenumberandtypesofdisclosedmattersthatweresubstantiatedoninvestigationandactiontakenoncompletionoftheinvestigation. Nil

ThenumberofrecommendationsoftheOmbudsmanundertheActthatrelatetothepublicbody. Nil

* ten were considered not to be protected disclosures and are considered resolved or are being dealt with through other processes. In general, these disclosures were more in the nature of feedback and complaints, rather than disclosures of corrupt or other improper conduct governed by the Act. Some were dealt with under mechanisms that the informants and the university, after due deliberation, considered more appropriate (e.g. the Student Feedback and Complaints policy; Staff Issue and Complaint Resolution policy; or the Victoria university [Academic and General Staff] enterprise Bargaining Agreement 2005).one has been referred to the ombudsman under Section 29 of the Act for determination as to whether it is a public interest disclosure.

the procedures establish a system for reporting disclosures of improper conduct and/or detrimental action by staff, officers and Council members. these procedures are available from the Victoria university website at www.vu.edu.au/governancepolicy

the system enables such disclosures to be made direct to the protected Disclosure Co-ordinator, Ms natalina Velardi on +61 3 9919 9550 or through Victoria university’s Whistleblower Hotline on 1800 288 186. In addition to staff or students, members of the general public may make disclosures. potential whistleblowers may also contact the ombudsman on +61 3 9613 6222.

eXpenDitUre on consUltants

Description nUmBer of enGaGements

cost $'000

(a) consUltants costinG less than $100,000

payments to Consultants 421 4,525

(B) consUltants costinG more than $100,000

entity Solutions Services pty ltd Finance month end process review 101

John Wardle pty ltd Architectural consultants 103

Finacc Solutions pty ltd Working capital review 105

Russell Harvey pty ltd property acquisition consultants 108

Finacc Solutions pty ltd Finance month end process review 109

Mercer (Australia) pty ltd Classification and remuneration framework consultants

118

the Cox Group pty ltd Architectural consultants 118

Xcelvate Consulting Working capital review 122

pacific Strategy partners Review of externalising It services 129

Wilde and Woollard Quantity Surveyors pty ltd Quantity surveyors and construction cost consultants 158

travencore Consulting It software implementation consultants 164

Becmar Consulting Data migration consultants 173

Systemwide technologies pty ltd It business architecture consultants 199

CR Consulting pty ltd Data migration consultants 210

professional Recruitment Australia Finance and procurement organisation redesign 217

ernst & Young procurement services and performance management enhancement

253

the Cox Group pty ltd Architectural consultants 296

oakton Services pty ltd It solution architecture consultants 502

18 3,185

total consUltants 439 7,710

consUltants' eXpenDitUre Greater anD less than $100,000 for the Year enDeD 31 DecemBer 2011

50 51

statUtes anD reGUlations maDe or amenDeD DUrinG the 2011 calenDar Year

THE MINISTER FOR HIGHER EDUCATION AND SKILLS APPROVED THE FOLLOWING LEGISLATION DURING THE PERIOD 1 JANUARY 2011 TO 31 DECEMBER 2011Statute 3.1.4 – Interim and Acting Vice-Chancellors (Made by the Minister for Higher education and Skills on 19 January 2011)

Statute 3.2.2 – Deputy Vice-Chancellors (Made by the Minister for Higher education and Skills on 19 January 2011)

Statute 8.1.3 – election of Staff Representatives to Council (Amendment no.1) (Made by the Minister for Higher education and Skills on 19 January 2011)

Statute 8.1.4 – election of Student Representatives to Council (Amendment no.1) (Made by the Minister for Higher education and Skills on 19 January 2011)

Statute 3.1.3 – Vice-Chancellor (Amendment no.1) (Made by the Minister for Higher education and Skills on 19 January 2011)

Statute 3.1.1 – Chancellor (Amendment no.1) (Made by the Minister for Higher education and Skills on 19 January 2011)

Statute 3.1.2 – the Deputy Chancellor (Amendment no.1) (Made by the Minister for Higher education and Skills on 19 January 2011)

Statute 2.1 – the Council (Amendment no.2) (Made by the Minister for Higher education and Skills on 19 January 2011)

COUNCIL APPROVED THE FOLLOWING LEGISLATION DURING THE PERIOD 1 JANUARY 2011 TO 31 DECEMBER 2011:Regulation 2.5.1 – Schools of technical and Further education (Amendment no. 5) (Made by Council on 28 February 2011)

Regulation 8.1.3 – election of Staff Representatives to Council (Made by Council on 18 April 2011)

Regulation 8.1.4 – election of Student Representatives to Council (Made by Council on 18 April 2011)

Regulation 2.5.1 – Schools of technical and Further education (Amendment no. 6) (Made by Council on 31 october 2011)

Regulation 8.1.1 – election procedures (Made by Council on 31 october 2011)

Regulation 3.1.2 – the Deputy Chancellor (Amendment no. 2) (Made by Council on 31 october 2011)

THE VICE-CHANCELLOR AND PRESIDENT APPROVED THE FOLLOWING LEGISLATION DURING THE PERIOD 1 JANUARY 2011 TO 31 DECEMBER 2011:Regulation 6.1.4 – Amendment no. 336 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 30 March 2011)

Regulation 6.1.4 – Amendment no. 337 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 3 May 2011)

Regulation 6.1.4 – Amendment no. 338 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 31 May 2011)

Regulation 6.1.4 – Amendment no. 339 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 14 July 2011)




Regulation 6.1.4 – Amendment no. 343 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 12 September 2011)

Regulation 6.1.4 – Amendment no. 345 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Acting Vice-Chancellor on 3 october 2011)

Regulation 6.1.4 – Amendment no. 344 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Acting Vice-Chancellor on 10 october 2011)

Regulation 6.1.4 – Amendment no. 347 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 24 october 2011)

Regulation 6.1.4 – Amendment no. 346 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 25 october 2011)

Regulation 6.1.4 – Amendment no. 348 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 6 november 2011)



Regulation 6.1.4 – Amendment no. 351 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Vice-Chancellor on 2 December 2011)

Regulation 6.1.4 – Amendment no. 352 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Acting Vice-Chancellor on 13 December 2011)

Regulation 6.1.4 – Amendment no. 353 to Statute 6.1 – Academic Awards, programs, Courses and Subjects (Made by the Acting Vice-Chancellor on 13 December 2011)




UniversitY reGUlationscoUncil anD committees attenDance 2011

coUncilmember totAl no. eligible to AttendMr George pappas (Chair and Chancellor) 6 6professor peter Dawkins (Vice-Chancellor) or Acting VC 6 6Mr Kevin Baker 0 1Mr Clovis Bonner 5 6Ms Sharon Cullen 5 6Mr Geoff Dale 6 6Dr James Doughney 5 6Mr leon Burger 2 2Commissioner Dianne Foggo (Deputy Chancellor) 4 6Mr Ben Foskett 5 5Dr Ian Gilmour 6 6Dr Richard Gould 1 1Ms Meg Hansen 5 6Ms Andrea Hassett 5 6Mr Wayne Kayler-thomson 5 6Mr Ken loughnan 1 1Mr John o’Rourke 6 6Ms prue Willsford 5 6Mr thomas D’Souza 3 3Mr Michael Zaar 5 6professor neil Andrews 5 6Mr Garry Kuan 2 2

chancellor’s anD nominations committeesmember totAl no. eligible to Attend

Mr George pappas (Chair and Chancellor) 6 6Commissioner Dianne Foggo (Deputy Chancellor) 6 6professor peter Dawkins (Vice-Chancellor) or Acting VC 6 6Dr Ian Gilmour 5 6Mr John o’Rourke 6 6Mr Ben Foskett 5 5professor neil Andrews 6 6

remUneration committeemember totAl no. eligible to Attend

Mr George pappas (Chair and Chancellor) 5 5Commissioner Dianne Foggo (Deputy Chancellor) 5 5Dr Ian Gilmour 2 5Mr John o’Rourke 5 5Mr Ben Foskett 4 4

resoUrces committeemember totAl no. eligible to Attend

Mr John o’Rourke 10 10professor peter Dawkins (Vice-Chancellor) or Acting VC 10 10Dr James Doughney 8 10Ms prue Willsford 9 10Mr Clovis Bonner 8 10Mr Geoff Dale 7 10

aUDit anD risK committeemember totAl no. eligible to Attend

Dr Ian Gilmour (Chair) 5 5Commissioner Dianne Foggo (Deputy Chancellor) 4 5Ms Andrea Hassett 5 5Mr Clovis Bonner [from 27.06.11] 3 3Mr tony Greenwood [to 30.06.11] 0 2Ms Jenny King 3 5Ms Jan Mcpherson [to 30.06.11] 2 2

strateGY committee – scheDUleD meetinGsmember totAl no. eligible to Attend

Mr Ben Foskett (Chair) 5 5Mr Kevin Baker 2 2Ms Sharon Cullen 4 5professor peter Dawkins (Vice-Chancellor) or Acting VC 5 5Ms Meg Hansen 3 5Mr Wayne Kayler-thomson 2 5Mr Michael Zaar 4 5

52 53

DocUments helD BY the UniversitYVictoria university’s core activities are engaged in teaching and research. In pursuing its objects and mission, Victoria university creates and holds a large range of documents, including agreements, contracts, assessment records, correspondence, minutes and committee papers, reports, policies and procedures, statutes and regulations.

these can cover such functions as:

• Alumni

• Assetmanagement

• Curriculumdevelopment

• Research

• Studentadmissions

• Studentrecruitment

• Studentservices

• Teachingandlearning

• Budgetsandfinance

• Communityengagement/partnerships

• Facilities

• Governance

• Graduations

• Informationtechnology

• Planning

• Procurement

• Staffing.

Documents are held at Central Administration, Faculty or School locations. General inquiries related to accessing these documents may be made directly to the office in which these functions occur. the university’s administrative structure provided on page 10 depicts the major divisions making up the university.

the Marketing and Communications Department also produces a range of publications, including the current and previous annual reports, for distribution within and outside the university. these can be viewed at www.vu.edu.au/about-vu/publications

information aBoUt victoria UniversitYthe university website can be used to access a wide range of information about the university. Areas of interest include teaching, research, policy information, course and unit information, and a wide range of faculty and campus specific information. the website also includes reference to the annual university calendar; media releases; admissions information; student information; and the various faculties, schools and divisions making up the university. the university has included material as set out in part II of the FoI Act on the university website. use of the search facility enables access to the relevant information.

Consistent with the requirements of the Financial Management Act 1994, Victoria university has prepared material on the following items, details of which are available on request:

• statementregardingdeclarationsofpecuniaryinterest

• sharesheldbeneficiallybyseniorofficersasnomineesofastatutoryauthorityorsubsidiary

• publications

• changesinprices,fees,charges,ratesandlevies

• majorexternalreviews

• majorresearchanddevelopmentactivities

• overseasvisitsundertaken

• occupationalhealthandsafetyassessmentsandmeasures

• industrialrelationsissues,and

• majorcommitteessponsoredbyVictoriaUniversity.

liBrarY accessthe university has 11 libraries that are available for use by members of the general public as well as staff and students. Details concerning locations and opening hours can be found at http://w2.vu.edu.au/library/libraryhours/

activitY reportIn 2011, the university received nine requests for access to documents under the Freedom of Information Act 1982 (the FoI Act). the table below details statistics relating to FoI activities during the reporting period.

foi stAtistics 2011

nUmBer

requests 9*

requests refused 1

decisions to releAse

− in full 1

− in pArt 5

decisions denying Access 1

decisions where no documents identified from request 0

requests not proceeded with by ApplicAnt 0

requests not finAlised by the end of 2011 1

internAl reViews 2

VictoriA ciVil And AdministrAtiVe tribunAl AppeAls 0

requests receiVing timely responses 8

* During the year, eight of the nine decisions were made within the timeframes under the FoI Act. on one occasion the timeframe was exceeded due to an administrative oversight.

proceDUre for hanDlinG reQUestsAll formal requests for access to documents in the university’s possession under the FoI Act are made in writing to:

Mr Matthew thornley Manager Records Services and FoI Co-ordinator Risk, legal, Records and Compliance Footscray park Campus Victoria university po Box 14428 Melbourne VIC 8001

phone +61 3 9919 9553 Fax +61 3 9919 5340

A request for access to a document of the university should include sufficient information about that document to enable it to be identified. Requests must clearly identify that they are made under the FoI Act and be accompanied by the requisite application fee of $24.40.

enquiries relating to the FoI Act, or for assistance that may be required to identify documents of the university available under the FoI Act, should also be directed to the Manager Records Services and FoI Co-ordinator.

Charges for access to documents of the university under the provisions of the FoI Act are in accordance with the Freedom of Information (Access Charges) Regulation 2004.

Applicants are notified in writing of the decision on a valid request as soon as possible but within 45 days of the receipt of the application. In accordance with the FoI Act,

freeDom of information reportinG

applicants can seek internal review of primary decisions for access. officers authorised to conduct those reviews are identified in relevant notices to applicants.

the university has established guidelines to assist people with their requests for information. these can be found at: http://gpps.vu.edu.au/freedom/cid/15/parent/1/t/freedom

Description of fUnctions anD Decision-maKinG poWers of the UniversitYthe Victoria University Act 2010 establishes the university. the university is described and reference to its objectives is made on page 8. the Council is the governing authority of the university and has the direction and superintendence of the university.

the structure of university Council is outlined on page 10 and a list of its committees on pages 10 and 11. Minutes of Council and Committees of Council can be accessed at http://gpps.vu.edu.au/committee/cid/9/parent/0/t/committee

Some limited open access is available to observers at Council meetings. Further details can be obtained from the Council Secretary, Governance and policy Branch, Building K, Footscray park Campus, Footscray, phone +61 3 9919 4023.

the education and Research Board is responsible to Council for academic oversight of the university’s research, academic programs and courses of study in higher education, further education and vocational education. the education and Research Board has established a number of standing committees to assist it in this work.

these are the:

• CoursesandPathwaysAdvisoryCommittee

• TeachingandLearningCommittee

• StrategyCommittee

• PostgraduateResearchCommittee

• ResearchCommittee;and

• DisciplineCommittee.

Minutes of the education and Research Board and its Committees can be accessed at http://gpps.vu.edu.au/committee/cid/10/parent/0/t/committee

Further details concerning the education and Research Board and its Committees can be obtained from the Senior policy officer – education and Research Board, Governance and policy Branch, Building K, Footscray park Campus, Footscray. phone +61 3 9919 4415.

54 55

compliance With national Governance protocolseach year the university is required to ensure that it is compliant with the national Governance protocols contained within the Higher Education Support Act 2003. Victoria university’s compliance with the national Governance protocols in 2010 and 2011 was assessed and confirmed by its Council at the meeting of Council on 29 August 2011. Victoria university has been compliant with the national Governance protocols since the inception of the Higher Education Support Act. the Council also confirmed that it was compliant with the Voluntary Code of Best Practice in Governance for Australian Universities on 5 December 2011.

statement of compliance With the BUilDinG anD maintenance provisions of the BUilDinG act 1993All new Victoria university buildings and renovations comply with the building and maintenance provision requirements of the Building Act 1993. All existing buildings comply with the building regulations that existed at the time of construction.

sUmmarY of environmental performanceVictoria university seeks to do much more than simply comply with environmental legislation and regulations. A culture of environmental responsibility is fostered among both staff and students so that sustainability is a prime consideration in all of the university’s activities.

the university has an environment Charter which outlines its environmental ideals and objectives. the Charter is supported by an environment policy and a more detailed environment Management plan. In recognition of the importance that the university places on environmental sustainability, two high-level committees have been formed, an environment Committee and an education for Sustainability Committee. Continuing improvement is being made each year in reducing the university’s environmental impact.

Declarations of interest BY coUncil memBersIn accordance with the Act, a member of Council must take reasonable steps to avoid all conflicts of interest unless they are declared in accordance with Clause 11 of Schedule 1 of the Act. It is the responsibility of all members of Council to ensure that they comply with the Act.

As a guide, the Council has listed the following as possible areas for conflict of interest:

• employmentby,shareholdingin,ordirectorshipofacompanydealingwiththeuniversity

• membershipofabodythatisincompetitionorconflictwiththeUniversity

• membershipofotherboards

• outsourcingorrestructuringofworksectionsbyUniversitystaffmembers

• anymattersunderdiscussionthatwouldresultinpersonalfinancialadvantage

• inthecaseofgovernmentofficials,thosewhoareresponsibleforanyaspectofpolicyor operations which affect a matter under consideration by the university.

A member of Council is required to declare a potential conflict of interest in a matter being considered by Council or about to be considered by Council as soon as practicable

after the relevant facts have come to his or her knowledge. A declaration can therefore be made before the commencement of a meeting by writing to the Chancellor or at the beginning of the meeting of Council when members are required to declare any interest, or during the meeting at that point at which the potential conflict of interest becomes known.

After a declaration has been made, unless the Council otherwise directs, the member of Council concerned must not be present during any deliberation with respect to that matter and is not entitled to vote. Declarations on all of these matters are formally minuted and retained for reference.

Additionally, members of Council are requested to complete an annual Declaration of private Interests.

A similar system is in place for Committees of Council.

inDemnitY for coUncil anD senior officerspursuant to Section 19 of the Victoria University Act 2010, the university indemnifies members of Council, university committees and the education and Research Board in respect of acts or omissions in good faith in the exercise of their powers or duties. During the reporting period, the university incurred a premium for maintaining a Directors’ and officers’ liability Insurance policy for Council members and senior officers.

national competition policYthe university has established policies and procedures to comply with its obligations under the Competition and Consumer Act 2010 and to practice competitive neutrality in relation to its relevant commercial activities. the university provides online training and advice on trade practices and competitive neutrality.

relevant ministerthe relevant minister for the period covered by Victoria university’s 2011 Annual Report was the Honourable Mr peter Hall, MlC, Minister for Higher education and Skills.

aDDitional compliance DisclosUres Grievance anD complaint proceDUres for staff anD stUDents

staffthe Human Resources Department plays a role in assisting staff to resolve grievances. Information for staff is available on the Human Resources Department website.

Victoria university’s Human Resources Department recognises a grievance as an expression of dissatisfaction about a work situation usually by an individual employee, but it may sometimes be initiated by a group of employees or an employee representative acting on their behalf. Most grievances are able to be resolved informally through discussion at the workplace. Some types of grievances have a legal basis for a complaint.

An unresolved complaint under the Staff Issue and Complaint Resolution policy can become a grievance for resolution through the formal steps of this policy – Schedule 7 of Victoria university’s 2011 enterprise Bargaining Agreement and Clause 10 of the Multi Business Agreement 2009.

While grievance procedures for staff vary depending on the nature of the issue, the emphasis is on timely and confidential resolution. the Staff Issue and Complaint Resolution policy provides a framework for the resolution of complaints as close as possible to the local level and in accordance with principles of natural justice.

All managers/supervisors and staff are responsible for ensuring a safe and productive workplace. they are responsible for meeting the requirements of their positions and working to their employment contracts within the bounds of legislation, and university policies and procedures.

stUDentsthe university has a formal complaint-handling process in place for the resolution of student complaints. the procedure is contained in the university’s Student Complaints Resolution policy (the policy), available at http://wcf.vu.edu.au/Governancepolicy/pDF/poS040915000.pDF.

the university’s policy was developed to achieve a sound and fair resolution of student complaints on the following basis:

i. that the parties to the complaint wish to resolve it in good faith;

ii. that the parties to the complaint wish to achieve an amicable resolution of the complaint rather than concentrating on apportioning blame;

iii. that complaint resolution procedures are conducted in accordance with principles of natural justice and in a manner which provides fair, reasonable and unbiased treatment for all parties; and

iv. that written reasons for decisions are provided to the parties.

there are three stages in Victoria university’s student complaint resolution procedure. Stage 1 encourages students and staff to make all reasonable efforts to resolve issues informally with the people most directly concerned. Students may escalate complaints to Stage 2 if they consider it is unresolved at a School or Departmental level. the Stage 2 investigation process is overseen by the pro Vice-Chancellor, Academic and Students (pVC A&S). Stage 3 offers a final, independent appeal process against the outcome of a Stage 2 investigation if a student is unsatisfied with the decision. If a request for a Stage 3 Grievance hearing is within the ambit of the policy, and no other remedial action may be administered to resolve the matter, then it proceeds to a hearing before a Grievance panel of the university chaired by an independent member of Council for a final determination.

In 2011, 33 Stage 2 complaints were investigated and determined as administered by the office of the pVC A&S in accordance with the policy. this is a reduction from 2010; in that reporting period 43 Stage 2 complaints investigated and concluded with a resolution. An increased number of written complaints were received by the office of the pVC A&S; however, a greater proportion of these were resolved through the facilitation of a resolution via a Stage 1 process. this is consistent with the objective of the policy to make every reasonable effort to resolve the complaint at the level closest to the parties.

In 2011 there were no Stage 3 complaints, although one Stage 3 process was initiated; commencement of any further proceedings was put on hold at the request of the complainant. An additional Stage 3 request was initiated, but resolved through alternative remedial action, obviating the need for a Stage 3 complaint.

the types of Stage 2 complaints received in 2011 are outlined in the below table. Appeals against admissions and discipline decisions are not included, as they are covered by separate processes.

natUre of complaintacaDemic eXclUsion appeals

aDministrative assessment DispUtes

coUrse QUalitY*

enrolment anD fees

interpersonal DispUtes**

services for stUDents

special consiDeration appeals

stUDent facilities anD amenities

rhD*** sUpervision

total

semester one

0 2 6 4 4 1 0 0 0 2 19

semester two

0 4 3 1 1 4 0 0 0 1 14

total 0 6 9 5 5 5 0 0 0 3 33

*’Course quality’ includes quality of teaching**’Interpersonal disputes’ include bullying, sexual harassment and discrimination complaints***RHD refers to Higher Degree by Research students

56 57

KeY performance inDicators

strateGic plan KeY performance inDicators (Kpis)the Key performance Indicators in the table below are clustered according to the university’s major areas of activity.

2016 oUtcome KeY performance inDicator 2007 2008 2009 2010 2011

the stUDent eXperience/teachinG anD learninG

course deliVery shAre of VtAc 1–3 preferences (he) 8.70% 8.80% 8.30% 8.20% 7.40%

student experience [A] retention (he) 76.18 78.15 76.5 79.65 not AVAilAble

[b] module loAd completion rAte (Ve/fe) 79% 81% 80% 81% 82%

course oVerAll sAtisfAction (course experience questionnAire)

75.54% 63.07% 61.30% 72.00% 75.70%

student experience oVerAll sAtisfAction (student bArometer)

– 89% – 88% –

course profile Vu students % of required courses meeting or exceeding liwc tArget[4]

– 51% 88% not AVAilAble

sociAl inclusion

sociAl inclusion Access rAte for students with low socioeconomic stAtus (he)

22.26% 23.13% 21.49% 21.17 not AVAilAble

reseArch And reseArch trAining

workplAce culture consolidAted reseArch index (cri) 8.71 11.23 11.01 11.43 not AVAilAble

engAgement And relAtionships

collAborAtion And pArtnerships quAlity of pArtnerships not AVAilAble not AVAilAble not AVAilAble not AVAilAble not AVAilAble

finAnciAl

finAnciAl sustAinAbility reported operAting mArgin 5.55% 4.55% 6.70% 7.60% 1.80%

underlying result $9.54m ($0.21m) $18.88m $22.28m (13.07m)

liquidity rAtio 1.79 1.9 1.51 1.19 1.08

fit-for-purpose infrAstructure spAce utilisAtion 14.99 24.96 34.99 41.75 35.3

enVironmentAl sustAinAbility index 254 254 228 222 190

stAff And humAn resource deVelopment

workplAce culture employee engAgement index (Voice it surVey)

– 3.9 – 3.9 –

workforce plAnning return on employee cost $1.61 $1.57 $1.66 $1.66 $1.54

goVernAnce, leAdership And mAnAgement

effectiVe goVernAnce And mAnAgement

effectiVeness of council And educAtion And reseArch boArd

18/29 26/26

1 2010 retention data is derived from the Department of education, employment and Workplace Relations 2011 Institutional performance portfolio for Victoria university.2 the Course experience Questionnaire is completed only by He students.3 the Student Barometer is conducted biennially.4 liWC data was collected in 2009 and 2010. Beginning in 2011 the Annual Course Monitoring process captures liWC information, and the specific percentage of liWC in units/courses can be found in Course Approval

and Management System (CAMS).5 VoiceIt survey is conducted biennially.

operational anD BUDGetarY oBJectives 2011

(this analysis of the achievements of the university’s operational and budget objectives is prepared to satisfy the requirements of FRD 22B)

BUDGetarY oBJective oUtcome

reinvesting in the future – this requires the university to implement strategies to ensure it is able to generate not only a reported surplus but an underlying operating surplus. this also includes meeting Vu targeted KpIs.

the university generated a reported operating surplus of $8.72m (1.8% margin, includes capital grants, gross proceeds from sale of assets); on an underlying basis the result was $(13.07)m (3.0% margin compared to a target margin of 5.0%).

living within our means – In order to be self-sustainable, the university will endeavour to fund ongoing operating activities from the current year’s operating revenue and not from accumulated surpluses or reserves.

the university’s underlying result deteriorated during 2010–2011. the result for 2011 was largely due a reduction in Ve revenue due to under delivery of planned hours, changes to capping, and reduction in FFS–teaching and other Student Fees and Charges, and an increase in overall employment costs and non-salary costs. the university is undertaking an organisation Reform program in 2012.

Differentiating our University – the budget will support activities that derive directly and immediately from Victoria university’s Strategic plan to be a great university of 21st Century, 2012–2016, including a ‘fit for purpose’ course profile focused on Vu strengths and ‘fit for purpose’ staffing. the budget will also support the development of school compacts and broader social inclusion initiatives.

social inclusion – Vu currently has a participation rate of 22.13% of low SeS students and receives the following Higher education partnerships and program Funding as a consequence: participation – $1.51m; partnership – $0.36m. In Vocational and Further education, 45% of students are from a non-english speaking background, and a large number of students are aged 15–19 without having completed Year 12. Vu receives additional funding to support youth, which has been directed to a youth strategy to support completions.

teaching and learning support – that adequate financial support be provided to ensure Vu is able to build its teaching and learning capabilities, including the commitment to produce ‘work ready’ graduates through learning in the workplace and community.

A number of learning and teaching projects have been supported across a wide range of activities, including: sustainability, internationalisation, flexible delivery, graduate capabilities and liWC. Curriculum development has focused on lln, better integration of diploma courses with degrees and liWC (now 88% compliant).

research support – that adequate financial support be provided to support momentum gained in building Vu research capacity to improve Vu’s current performance and ranking in the Australian sector. this includes the development of a new Institute for Diversity, educational Access and Success.

Substantial investment in research, including for the Institute for Diversity, educational Access and Success, which has an expenditure of $.64m. total expenditure in priority Research Innovation projects (pRIp) was $2.9m. Research block grant income was $9.5m, and Vu was awarded Collaborative Research network funding of $6.1m to be spent over 3 years.

capital infrastructure – the budget will provide support to ensure Vu is able to invest in capital upgrades and maintenance, and to ensure Vu is able to support strategic initiatives aligned to the Victoria university’s Strategic plan to be a great university of 21st Century, 2012–2016.

expenditure on major building and It Infrastructure equalled $62.3m. Significant expenditure is foreshadowed for the period 2012–2016; this is necessary to ensure that the university is able to provide state of the art technology, teaching and research facilities.

assigned financial accountability – the budget will ensure revenue and expenditure targets are clearly disaggregated and that officers responsible for meeting revenue and expenditure targets are held accountable for delivery of those targets.

Clear revenue and expenditure targets were set for each organisational unit. extensive performance monitoring was undertaken throughout 2011. Systems and reporting improvements were implemented to inform and streamline the process. Further improvements to performance management processes will be made in 2012.

58 59

tafe statement of performance manaGement certificate tafe KeY performance inDicators (Kpis)

2011 2011 2010 movement eXplanation

Kpi Definition tarGet actUal actUal actUal vs tarGet

strateGic aliGnment

Participationof15–24yearOlds

Numberofstudentswithintheagegroup

18,000 15,661 17,980 -13% Decreaseinstudentnumbersagainstthetargetwithinthe15-24yearoldagegroupasaresultofchangesineligibilityrequirementswhenastudentturns20(upskillingruleswouldapply)andthecessationofasignificantcontractwhichhadalargeyouthcomponentthatoccurredinmid2011

pArticipAtion of 25–64 yeAr olds

number of students within the Age group

12,000 11,461 11,781 -4% not mAteriAl

traininG oUtcomes

ModuleloadCompletionRate

Scheduledhoursassessedandpassedorsatisfactorilycompleted/TotalscheduledhoursreportedlesshoursrecordedwithCreditTransferandcontinuingstudiesoutcomes

82.00% 82.00% 81.00% 0% Notmaterial

StudentSatisfaction Proportionofgraduatessatisfiedwiththeoverallqualityoftraining

89.00% 88.10% 87.10% -1% Notmaterial

financial manaGement

TotalCostperStudentContacthour(sch)

Totalexpenditure(excludingDepreciation)/TotalSCh

$11.92 $11.46 $10.51 -4% Notmaterial

workingCapitalRatio

CurrentAssets/Currentliabilities(adjustedfornon-currentlSl)

1.67 2.02 2.08 21% Increaseagainstthetargetworkingcapitalratioasaresultofanincreaseincurrentassetspredominantlyduetothere-measurementofanon-currentassetheldforsale

NetOperatingMargin

fundedOperatingSurplus/TotalRevenue(excludingCapital)

0.80% 0.56% 5.30% -30% Reductionagainsttargetasaresultofdecreasesfromstateandlocalgovernmentfundingandstudentfeesandchargesrevenue

fee for service Revenue

feeforServiceRevenue/TotalRevenue(%)

19.10% 15.07% 18.11% -21% Decreaseagainsttargetduetolowerstudentfeesandchargesrevenuefromvariousindustryserviceprogramsanddeclinesininternationalstudentactivity

orGanisational manaGement

RevenueperEfTStaff

TotalRevenue(excludingCapital)/AverageEfTStaff

$231,704 $165,001 $174,153 -29% Decreaseagainsttargetduetolowerstudentfeesandchargesrevenuefromvariousindustryserviceprogramsanddeclinesininternationalstudentactivity,partiallyoffsetbyanincreaseinVETEfTstaff

StudentContacthours

Totalnumberofstudentcontacthoursdeliveredagainstcontracteddelivery

13,000,000 12,347,408 13,443,277 -5% ReductionagainsttargetduetofullmarketcontestabilityandgrowthofprivateRegisteredTrainingOrganisations

environment

EnergyConsumption Percentage(reduction)/increaseinenergyconsumptionforElectricity,Gas,lPG,GreenPowerandheatingOil

nA +25.43% + 29.27% nA Decreaseinstudentcontacthoursoffsetbyslightincreaseinenergyconsumptionagainstthe2010actual.

60 61

aUDitor General’s report

DRAFT

62 63

financial overvieW 2011

introDUctionVictoria university (Vu) and its controlled entities (the Group) returned a total net operating surplus of $8.6m for the year ending 31 December 2011; this represents a $25.6m decrease (74.8%) over the 2010 results of $34.2m. the Group achieved a reported operating margin of 1.9% (2010: 7.3%) on gross revenue. Vu’s contribution towards the net operating surplus was $8.7m (2010: $34.1m) while its subsidiary companies generated combined deficit of $0.01m (2010: $0.04m).

It is important to note that the university’s surplus of $8.7m was impacted by the receipt of one-off capital/project grants funding and other transactions which if removed reveal that the university actually generated an underlying deficit of $13.1m (2010 surplus of $22.28m).

table 1 below (Key Financial Data – Group) shows that Group revenue decreased 1.2% from the 2010 level of $470.1m. Group expenses however grew by a further 4.6% during the financial year. An analysis of major revenue and expense movements is shown below.

During 2011 the Group experienced an increase of $8.6m in the value of its net asset base, 1.2% growth (2010: 8.5%); the Group’s net asset holdings as at 31 December 2011 was $721.2m. this increase is largely attributed to Australian Government capital funding of $14.0m. the Group’s liquidity ratio fell to 1.1 (2010:1.2), this is reflective of the organisation’s lower than expected operating result.

taBle 1: KeY financial Data – GroUp

2007 2008 2009 2010 2011

$m $m $m $m $m

reVenue 341.79 387.97 424.80 470.05 464.50

expenses before tAx 320.68 370.55 397.80 435.82 455.86

operAting surplus $21.11 17.42 27.00 34.23 8.64

net Assets 620.18 637.94 664.91 721.20 729.84

operAting mArgin %* 6.2% 4.4% 6.4% 7.3% 1.9%

liquidity rAtio 1.85 1.97 1.58 1.20 1.13

*operating margin calculations include deferred government superannuation contributions.

GroUp operatinG resUlts for perioD 2007–2011

revenUe the growth in Group revenue before Deferred Government Superannuation Contributions amounted to $15.7m or 3.5% (2010: 10.3%); total revenue generated for the year equalled $464.5m.

the increase in revenue is largely attributed to:

• IncreasesinCommonwealthfundingof$15.7m(predominantlyduetoCGSandother operating grants of $4.1m – increased student load and cost, indexation supplementation) and capital funding $8.3m.

• Decreaseinfeesandchargesof$6.1m,mainlyfeepayingstudentfees–$3.3m,enrolment fees – of $0.7m and in fee for service of $1.7m.

• Othersourcesofincomeincreasedby$6.6mfrom2010duetomovementinconsultancy and contract services – $2.0m, gain on sale of assets disposed – $5.6m offset in reduced property lease income – $1.0m.

Commonwealth Government funding (including HeCS-Help) continued to be the main source of funding for the Group, closely followed by Victorian Government Grants and Fees and Charges. this is further illustrated below:

note that ‘other Income’ is comprised of investment, consultancies and contract research (non DeeWR), sale of goods, property leases, childcare fees, deferred government superannuation, fees and other miscellaneous income.

0

5000

10000

15000

20000

25000

30000

35000

2007 2008 2009 2010 2011

OPERATING RESULT $’0002007 2008 2009 2010 201121,112 17,417 26,999 34229 8,641

Commonwealth Government Grants 34% $156,573HECS-HELP & FEE-HELP 16% $76,011Victoria Government Grants 23% $104,818Fees and Charges 18% $84,253Other 9% $42,848

$42,848

$156,573

$76,011

$104,818

$84,253

soUrces of income $'000

eXpensesGroup expenses (excluding deferred employee benefits for superannuation) increased by $41.3m during 2011 (10% increase on 2010); in 2010 expenses increased by 9.1%. Growth in employee benefits accounted for $26.7m of the increase, a rise of 20.8%, resulting from an increase in award payments to staff during the year and a higher than expected utilisation of sessional and casual staff.

In terms of non-salary expense growth of $14.6m, the main factors contributing to this increased expense relates to printing and stationery – $1.6m, operating lease rental expenses – $1.2m, advertising and marketing – $1.2m, refund of prior year’s student fees – $1.9m, legal and professional expenses – $1.2m and depreciation and amortisation of $4.1m.

the following graph shows the composition of the Group’s main expense categories:

maJor Balance sheet movementsthe Victoria university Group has continued to maintain a strong and healthy net asset position; as at 31 December 2011 the Group held net assets of $729.8m (2010: $721.2m). the growth is due in part to expenditure on capital assets funded from government grants and reserves of $18.1m. this also includes the sale of property, classified as held for sale at balance date and settled in January 2012. Due to the capital asset expansion, the cash and investment holdings in the entity reduced from $51.9m in 2010 to $29.4m – (cash and term deposits) at end of December 2011.

report on KeY performance inDicators the Strategic plan establishes Key performance Indicators (KpIs) against which outcomes are monitored and reported as indicators of progress towards the achievement of strategic objectives.

the non-government income ratio (with HeCS included as Government Income) measures the proportion of university revenue generated from non-government income sources as a proportion of total income. there has been little change in this ratio in recent years. Measured against our benchmark competitors, Australian universities, the contribution of non-government to government income remains below the benchmark ratio of 38:62 (2010 Australian universities Benchmark); Vu’s group ratio for 2010 was 29:71 (income excludes deferred superannuation contribution).

the current ratio KpI is a liquidity ratio measuring the university’s ability to meet its short-term financial obligations. A ratio of less than 1.0 is an indication of potential liquidity risk. At 31 December 2011 the Group’s current ratio was 1.1 compared to the Australian universities Benchmark of 1.3 for 2010.

the Group's operating margin of 1.9% is significantly below the 2011 university Benchmark ratio of 8.9%.

the main components of ‘other expenses’ are scholarships, grants and prizes, telecommunications, non-capitalised equipment, travel and staff development, energy costs, inventory used, printing and stationery, consumables, postage, advertising/marketing, legal and professional fees.

note: employee benefits do not include deferred expenditure relating to unfunded superannuation liabilities, these are shown in other expenses.

Employee benefits and costs 66% $300,826Depreciation and amortisation 5% $23,752Repair and maintenance 4% $18,426Other expenses 25% $112,859

$112,859

$300,826

$18,426$23,752

eXpenDitUres

64 65

victoria UniversitY anD sUBsiDiaries

five-Year financial sUmmarY 31 DecemBer 2011

2011 2010 2009 2008 2007

$000's $000's $000's $000's $000's

consoliDateD income statement

income from continuing operations

Government sources

Australian Government grants 148,652 132,966 125,806 115,672 98,882

HeCS, Fee-Help (pelS & BotplS) 76,011 76,095 66,557 63,070 56,199

State and local Government financial assistance 104,818 105,359 86,834 83,902 84,158

non-Government sources

Fees and charges 84,253 90,372 83,755 73,619 69,510

other 50,769 65,262 61,850 51,710 33,041

total revenues 464,503 470,054 424,802 387,973 341,790

total operating expenses (455,863) (435,816) (397,803) (370,556) (320,678)

Income tax expense 1 (9) - - -

operating result for the year 8,641 34,229 26,999 17,417 21,112

Accumulated funds at beginning of year 431,705 397,430 370,610 353,493 334,277

440,346 431,659 397,609 370,910 355,389

transfers to / (from) reserves 99 46 (180) (300) (1,896)

accUmUlateD fUnDs at enD of Year 440,445 431,705 397,430 370,610 353,493

consoliDateD statement of financial position

Current assets 103,527 111,026 112,472 133,433 121,316

non-current assets 869,784 852,533 752,601 682,752 662,129

Current liabilities (91,414) (92,483) (71,369) (67,819) (65,510)

non-current liabilities (152,053) (149,880) (128,791) (110,429) (97,752)

net assets 729,844 721,196 664,913 637,937 620,183

Reserves 289,399 289,491 267,483 267,327 266,690

Accumulated funds 440,445 431,705 397,430 370,610 353,493

total equity 729,844 721,196 664,913 637,937 620,183

NoteNumber ContentsoftheNotestothefinancialStatements Page

1 Summary of significant accounting policies 77–842 Disaggregated information 85–88

Income 3(a) Australian Government financial assistance including HeCS-Help and

other Australian Government loan programs 89–90

3(b) State and local Government financial assistance 913(c) Fees and charges 913(d) Investment income 923(e) Consultancy and contracts 923(f) other revenue 924 expenses 4(a) employee related expenses 934(b) Depreciation and amortisation 934(c) Repairs and maintenance 944(d) Impairment of assets 944(e) other expenses 945 Income tax 95

Assets 6 Cash and Cash equivalents 967 Receivables 978 Inventories 989 other financial assets 9810 non-Current Assets held for sale 9911 other non-financial assets 9912 property, plant and equipment 100–10213 Intangible assets 102

liabilities 14 trade and other payables 10315 provisions 103–10415 other liabilities 10417 Current tax liabilities 104

equity 18 Reserves and retained earnings 105–10619 Key Management personnel Disclosures 107–11020 Remuneration of Auditors 11021 Contingencies 11122 Commitments 111–11223 Related parties 11324 Subsidiaries 11425 events occurring after the end of the reporting period 11426 Reconciliation of operating result after income tax to net cash

flows from operating activities 114

27 Financial risk management 115–11828 Superannuation commitments 11829 Acquittal of Australian Government financial assistance 119–123

contents Page

financialStatementsIndependent Audit Report 66–67Statement by Chief Financial officer 68

Statement by the Acting Chancellor and the Vice-Chancellor and president

69

Report by the Members of the Council 70–71 Income Statement 72Statement of Comprehensive Income 73Statement of Financial position 74Statement of Changes in equity 75Statement of Cash Flows 76

notes to the Financial Statements 77

2011 financial statements inDeX

66 67

inDepenDent aUDit report inDepenDent aUDit report

68 69

statement BY the chief financial officer statement BY the actinG chancellor, anD the vice-chancellor anD presiDent

70 71

report BY the memBers of the coUncil report BY the memBers of the coUncil

72 73

for the Year enDeD 31 DecemBer 2011

consoliDateD UniversitY

2011 2010 2011 2010

notes $ 000's $ 000's $ 000's $ 000's

income from continUinG operations

Australian Government financial assistance

Australian Government grants 3(a) 148,652 132,966 148,652 132,966

HeCS-Help Australian Government payments 3(a), 29(b) 67,465 67,488 67,465 67,488

Fee-Help & Vet Fee-Help 3(a), 29(b) 8,546 8,607 8,546 8,607

State and local Government financial assistance 3(b) 104,818 105,359 104,818 105,359

HeCS-Help Student payments 7,921 8,124 7,921 8,124

Fees and charges 3(c) 84,253 90,372 84,122 90,228

Investment income 3(d) 3,824 4,060 3,559 3,814

Royalties and licences 17 310 17 310

Consultancy and Contracts 3(e) 7,269 5,274 7,269 5,274

other revenue 3(f) 30,031 24,477 30,013 24,335

total income from continuing operations before deferred Government Superannuation Contributions 462,796 447,037 462,382 446,505

Deferred Government Superannuation Contributions 1,707 23,017 1,707 23,017

total income from continuing operations 464,503 470,054 464,089 469,522

eXpenses from continUinG operations

employee related expenses 4(a) 300,826 274,078 300,822 274,074

Depreciation and amortisation 4(b) 23,752 19,662 23,752 19,662

Repairs and maintenance 4(c) 18,426 18,640 18,426 18,640

Impairment of assets 4(d) (42) 309 (128) 309

other investment losses 3(d) - 3 - -

other expenses 4(e) 111,194 100,107 110,783 99,630

total expenses from continuing operations before deferred employee benefits for superannuation 454,156 412,799 453,655 412,315

Deferred employee benefits for superannuation 4(a) 1,707 23,017 1,707 23,017

total expenses from continuing operations 455,863 435,816 455,362 435,332

operating result before income tax 8,640 34,238 8,727 34,190

Income tax expense/(benefit) 5 (1) 9 - -

operating result after income tax for the period 18(b) 8,641 34,229 8,727 34,190

income statement

the accompanying notes form part of these financial statements.

statement of comprehensive income


2011 2010 2011 2010

notes $ 000's $ 000's $ 000's $ 000's

operating result after income tax for the period 8,641 34,229 8,727 34,190

other comprehensive income:

Gain/(loss) on revaluation of land 18(b) - 22,085 - 22,085

exchange differences on translation of foreign operations 18(b) 6 (31) - -

other comprehensive income for the year, net of tax 6 22,054 - 22,085

total comprehensive income for the period 8,647 56,283 8,727 56,275



74 75

statement of financial positionas at 31 DecemBer 2011


2011 2010 2011 2010

notes $ 000's $ 000's $ 000's $ 000's

assets

cUrrent assets

Cash and cash equivalents 6 15,050 52,750 14,439 51,909

Receivables 7 31,916 46,324 31,785 46,334

Inventories 8 1,621 1,377 1,621 1,377

other financial assets 9 19,150 4,326 15,000 -

non-current assets held for sale 10 28,200 - 28,200 -

other non-financial assets 11 7,590 6,249 7,590 6,249

total cUrrent assets 103,527 111,026 98,635 105,869

non-cUrrent assets

Receivables 7 145,605 145,342 145,605 145,342

other financial assets 9 1,717 9,506 1,867 9,656

property, plant and equipment 12 671,172 668,315 671,144 668,287

Intangible assets 13 39,466 24,259 39,466 24,259

other non-financial assets 11 11,824 5,111 11,824 5,111

total non-cUrrent assets 869,784 852,533 869,906 852,655

total assets 973,311 963,559 968,541 958,524

liaBilities

cUrrent liaBilities

trade and other payables 14 27,827 33,076 27,764 32,835

Current tax liabilities 17 1 9 - -

provisions 15 58,979 53,911 58,979 53,911

other liabilities 16 4,607 5,487 4,607 5,487

total cUrrent liaBilities 91,414 92,483 91,350 92,233

non-cUrrent liaBilities

provisions 15 152,007 149,831 152,007 149,831

other liabilities 16 46 49 46 49

total non-cUrrent liaBilities 152,053 149,880 152,053 149,880

total liaBilities 243,467 242,363 243,403 242,113

net assets 729,844 721,196 725,138 716,411

eQUitY

Reserves 18 289,399 289,491 284,861 284,861

Retained earnings 18 440,445 431,705 440,277 431,550

total eQUitY 729,844 721,196 725,138 716,411


statement of chanGes in eQUitY


reserves retaineD earninGs

total

notes $ 000's $ 000's $ 000's

2010 consoliDateD

Balance at 1 January 2010 267,483 397,430 664,913

operating result after income tax - 34,229 34,229

Revaluation increment/(decrement) 22,085 - 22,085

Adjustments from translation of foreign controlled entities (31) - (31)

transfers to retained earnings from general reserve (46) 46 -

Balance at 31 December 2010 18 289,491 431,705 721,196

2011 consoliDateD



Revaluation increment/(decrement) - - -

Adjustments from translation of foreign controlled entities 6 - 6

transfers to retained earnings from general reserve (99) 99 -


2010 UniversitY



Revaluation increment/(decrement) 22,085 - 22,085

Adjustments from translation of foreign controlled entities - - -

transfers from retained earnings to general reserve - - -


2011 UniversitY



Revaluation increment/(decrement) - - -

Adjustments from translation of foreign controlled entities - - -

transfers from retained earnings to general reserve - - -



76 77

statement of cash floWsfor the Year enDeD 31 DecemBer 2011


2011 2010 2011 2010

notes $ 000's $ 000's $ 000's $ 000's

cash from operatinG activities:

Australian Government Grants received 3(a)(I) 213,126 211,576 213,126 211,576

oS-Help (net) 3(a)(I) 598 (598) 598 (598)

Superannuation Supplementation 3(a)(I) 7,318 5,848 7,318 5,848

State Government Grants received 110,196 99,120 110,196 99,120

local Government Grants received 91 97 91 97

HeCS-Help Student payments 7,921 8,124 7,921 8,124

Receipts from student fees and other customers (inc. of GSt) 133,130 115,220 133,104 115,092

Dividends received 188 7 188 7

Interest received 3,606 4,341 3,365 4,102

Royalties received 17 310 17 310

payments to suppliers and employees (inc. of GSt) (443,839) (395,935) (443,158) (395,669)

GSt recovered/paid 7,056 10,588 7,054 10,587

net cash provided by (used in) operating activities 26 39,408 58,698 39,820 58,596

cash floWs from investinG activities:

proceeds from sale of property, plant and equipment 69 5,516 69 5,516

purchase of financial assets (14,824) (5,989) (15,000) (5,989)

payments for property, plant and equipment 12(a) (45,840) (56,673) (45,840) (56,673)

payments for intangible assets 13 (16,507) (15,704) (16,507) (15,704)

proceeds from sale of financial assets - 25,689 - 28,000

net cash used in investing activities (77,102) (47,161) (77,278) (44,850)

cash floWs from financinG activities:

Repayment of borrowings (12) (12) (12) (12)

net cash used in financing activities (12) (12) (12) (12)

net cash increase (decreases) in cash and cash equivalents (37,706) 11,525 (37,470) 13,734

Cash and cash equivalents at beginning of year 52,750 41,256 51,909 38,175

effects of exchange rate changes on cash and cash equivalents 18(b) 6 (31) - -

cash and cash equivalents at end of financial year 1(f), 6 15,050 52,750 14,439 51,909

non-cash financing and investing activities - - - -

Financing arrangements relate to an interest free loan from the Commonwealth Government.


notes to the financial statements

1 sUmmarY of siGnificant accoUntinG policiesthe principle accounting policies adopted in the preparation of these financial statements is set out below. these policies have been consistently applied for all years reported unless otherwise stated. the financial statements include separate statements for Victoria university as the parent entity and the consolidated entity consisting of Victoria university and it's subsidiaries.

the principle address of Victoria university is:

Ballarat Road Footscray VIC 3011

(a) Basis of preparationthese annual financial statements represent the audited general purpose financial statements which have been prepared on an accrual basis in accordance with Australian Accounting Standards, AASB Interpretations, the requirements of the Department of education, employment and Workplace Relations and other State/Australian Government legislative requirements.

compliAnce with ifrssthe financial statements and notes of Victoria university comply with Australian Accounting Standards, some of which contain requirements specific to not for profit entities that are inconsistent with IFRS requirements.

dAte of AuthorisAtion for issuethe financial statements were authorised for issue by the members of Victoria university on 13 March 2012.

historicAl cost conVentionthese financial statements have been prepared under the historical cost convention, as modified by the revaluation of available for sale financial assets, financial assets and liabilities at fair value through profit or loss and certain classes of property, plant and equipment.

criticAl Accounting estimAtes And Judgementsthe preparation of financial statements in conformity with Australian Accounting Standards requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the university’s accounting policies. the estimates and underlying assumptions are reviewed on an ongoing basis. the areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed below:

KeY estimates

(i) impAirmentthe Group assesses impairment at each reporting date by evaluating conditions specific to the university and to its controlled entities that may lead to the impairment of assets. Where an impairment trigger exists, the recoverable amount of the asset is determined. A number of key estimates are incorporated in the value in use calculations performed in assessing recoverable amounts.

(ii) stAte superAnnuAtion fundAASB 119 employee Benefits requires that the estimated present value of superannuation obligations recognised in the financial statements should be determined as at balance date. these financial statements recognise estimated superannuation obligations in respect of the State Superannuation Fund using an actuarial estimate as at 30 June 2011. As there is no net impact on the statement of financial position or income statement from these superannuation obligations (due to recognition of a corresponding receivable), the costs of providing an actuarial assessment at balance date (31 December 2011) outweigh the benefits.

the university has therefore elected not to obtain an estimate of its superannuation obligations as at balance date. Consequently, superannuation obligations (and corresponding receivable) are stated in the financial statements based on estimates prepared 6 months in arrears.

KeY JUDGement

(i) AllowAnce for doubtful debtsIncluded in accounts receivable at 31 December 2011 are amounts which have been outstanding beyond the normal trading terms. the likelihood of the recovery of these amounts has been assessed and an estimated allowance made for non-recovery of particular amounts outstanding.

(B) principles of consoliDation

(i) subsidiAriesthe consolidated financial statements incorporate the assets and liabilities of all subsidiaries of the university (''parent entity'') as at 31 December 2011 and the results of all subsidiaries for the year then ended. the university and its subsidiaries together are referred to in these financial statements as the Group or the Consolidated entity. Subsidiaries are all those entities over which the Group has the ability to govern the financial and operating policies, generally accompanying a shareholding of more than one half of the voting rights. the existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. they are de consolidated from the date control ceases.

Inter entity transactions, balances and unrealised gains on transactions between Group entities are eliminated. unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of controlled entities have been changed where necessary to ensure consistency with the policies adopted by the Group.

Refer to note 24 for details on controlled entities.

(c) comparative amoUntsWhere necessary, comparative figures have been adjusted to conform with changes in presentation in the current year, in accordance with AASB101 presentation of Financial Statements.

(D) acQUisition of assetsthe purchase method of accounting is used to account for all acquisitions of assets regardless of whether equity instruments or other assets are acquired. Cost is measured as the fair value of the assets given plus costs directly attributable to the acquisition.

the Group's policy is to capitalise non-current physical assets and intangible assets (with the exception of land and works of art) costing $5,000 or more.


78 79

(e) impairment of assetsIntangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. other assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. the recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows which are largely independent of the cash inflows from other assets or groups of assets (cash generating units). non-financial assets that suffered an impairment are reviewed for possible reversal of the impairment at each reporting date.

(f) cash anD cash eQUivalentsCash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(G) receivaBlestrade receivables are carried at nominal amounts due less any provision for impairment and are due for settlement no more than 30 days from the date of recognition of debtors.

Collectability of trade receivables is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. A provision for the impairment of receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganisation, and default or delinquency in payments (more than 30 days overdue) are considered indicators that the trade receivable is impaired. the amount of the provision is the difference between the asset’s carrying amounts. Cash flows relating to short term receivables are not discounted if the effect of discounting is immaterial. the amount of the provision is recognised in the statement of financial position and in the income statement within expenses. Subsequent recoveries of amounts previously written off are credited against expenses in the income statement.

(h) inventoriesAnnual stock takes of inventories are undertaken at each location. Inventories held for sale are valued at the lower of cost or net realisable value.

Costs are assigned to individual items of inventory on the basis of weighted average costs. Costs of purchased inventory are determined after deducting rebates and discounts. net realisable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale.

(i) non-cUrrent assets (or Disposal GroUps) helD for salenon-current assets (or disposal groups) are classified as held for sale and stated at the lower of their carrying amount and fair value less costs to sell if their carrying amount will be recovered principally through a sale transaction rather than through continuing use.

An impairment loss is recognised for any initial or subsequent write down of the asset (or disposal group) to fair value less costs to sell.

A gain is recognised for any subsequent increases in fair value less costs to sell of an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the non-current asset (or disposal group) is recognised at the date of derecognition.

non-current assets (including those that are part of a disposal group) are not depreciated or amortised while they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue to be recognised.

non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the statement of financial position. the liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the statement of financial position.

(J) propertY, plant anD eQUipmenteach class of property, plant and equipment is carried at cost or fair values, and where applicable, net of any accumulated depreciation and impairment losses.

land and buildings and artworks are shown at fair value, based on periodic valuations by external independent valuers, less subsequent depreciation for buildings. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset. library collections are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. All other plant and equipment are shown at their fair value.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred.

Increases in the carrying amounts arising on revaluation of land and buildings are recognised in other comprehensive income and accumulated in equity under the heading of asset revaluation reserve. to the extent that the increase reverses a decrease previously recognised in the income statement, the increase is first recognised in income statement. Decreases that reverse previous increases of the same asset are also firstly recognised in other comprehensive income before reducing the balance of the asset revaluation reserve in equity, to the extent of the remaining reserve attributable to the asset; all other decreases are charged to the income statement.

land and artwork are not depreciated. other assets are depreciated from the date of acquisition or, in respect of buildings under construction, from the time they are made ready for use. Depreciation on these assets is calculated using the straight line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives, as follows:

2011 2010

Buildings 40 years 40 years

plant and equipment

– Furniture and fittings 10 years 10 years

– Computer equipment 4 years 4 years

– Motor vehicles 5 years 5 years

– other equipment 8–20 years 8–20 years

library collections

– Books 10 years 10 years

– Serials 5 years 5 years

– Audio visual and software 4 years 4 years

leasehold Improvements 5–11 years* 11 years

* leasehold improvements increased in 2011 to 2 (2010: 1).

the assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance date.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with carrying amounts. these are included in the income statement.

Assets other than those that are carried at cost are revalued with sufficient regularity to ensure that the carrying amount of each asset does not differ materially from its

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 1. summAry of significAnt Accounting policies continued

fair value. the Group's policy is to formally revalue assets every five years provided there are no material movements in the in between years. Revaluation increments or decrements arise from differences between an asset's depreciated cost or deemed cost and fair value.

last formal revaluation was undertaken in December 2007 and the next scheduled revaluation is December 2012.

(K) intanGiBle assets(i) reseArch And deVelopmentexpenditure on research activities, undertaken with the prospect of obtaining new scientific or technical knowledge and understanding, is recognised in the income statement as an expense when it is incurred.

expenditure on development activities, relating to the design and testing of new or improved products, are recognised as intangible assets when it is probable that the project will, after considering its commercial and technical feasibility, be completed and generate future economic benefits and its costs can be measured reliably. the expenditure capitalised comprises all directly attributable costs, including costs of materials, services, direct labour and an appropriate proportion of overheads. other development expenditure is recognised in the income statement as an expense as incurred. Development costs previously recognised as an expense are not recognised as an asset in a subsequent period. Capitalised development expenditures are recorded as intangible assets and amortised from the point at which the asset is ready for use. Amortisation is calculated using the straight line method to allocate the cost over the period of the expected benefit.

(ii) computer softwAreInternal use software is capitalised only when the amounts are greater than the university's capitalisation threshold and they satisfy the conditions for capitalisation. Internal use software is recognised at cost and assessed for amortisation over the useful life of 4 years (2010: 4 years). useful life of this software was reassessed in 2011 and it was concluded that no adjustment was required.

(l) investments anD other financial assetsthe university classifies its investments into the following three categories:

– financial assets at fair value through profit and loss;

– loans and receivables; and

– available for sale financial assets.

the classification depends on the purpose for which the investments were acquired. Management determines the classification of its investments at initial recognition and re evaluates this designation at each reporting date.

(i) finAnciAl Assets At fAir VAlue through profit or lossthis category has two sub categories:

– financial assets held for trading; and

– designated at fair value through profit or loss on initial recognition.

A financial asset is classified in this category if acquired principally for the purpose of selling in the short term or if so designated by management. the policy of management is to designate a financial asset if there exists the possibility it will be sold in the short term and the asset is subject to frequent changes in fair value. Assets in this category are classified as current assets if they are either held for trading or are expected to be realised within 12 months of the reporting date.

(ii) loAns And receiVAblesloans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. they are included in current assets, except for those with maturities greater than 12 months after the reporting date which are classified as non-current assets. loans and receivables are included in receivables in the statement of financial position.

At each reporting date, the Group assesses whether there is objective evidence that a financial instrument has been impaired.

Impairment losses are recognised in the income statement.

(iii) AVAilAble for sAle finAnciAl AssetsAvailable for sale financial assets, comprising principally term deposits, are non-derivatives that are either designated in this category or are not classified in any of the other categories. they are included in non-current assets unless management intends to dispose of the investment within 12 months of the reporting date.

Regular purchases and sales of financial assets are recognised on trade date the date on which the Group commits to purchase or sell the asset. Investments are initially recognised at fair value plus transactions costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially recognised at fair value and transaction costs are expensed in the income statement. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.

When securities classified as available for sale are sold, the accumulated fair value adjustments recognised in other comprehensive income are included in the income statement as gains and losses from investment securities.

subsequent meAsurementAvailable for sale financial assets and financial assets at fair value though profit and loss are subsequently carried at fair value with movements going through equity unless disposed or impaired. loans and receivables are carried at amortised cost using the effective interest method. Gains or losses arising from changes in the fair value of the 'financial assets at fair value through profit or loss' category are included in the income statement within other income or other expenses in the period in which they arise.

fAir VAluethe fair values of quoted investments are based on current bid prices. If the market for a financial asset is not active, or it is an unlisted security, the Group establishes fair value by using valuation techniques. these include reference to the fair values of recent arm's length transactions, involving the same instruments or other instruments that are substantially the same, discounted cash flow analysis, and option pricing models refined to reflect the issuer's specific circumstances.

impAirmentthe Group assesses at each reporting date whether there is objective evidence that a financial asset or group of financial assets is impaired.

(m) traDe anD other paYaBlesthese amounts represent liabilities for goods and services provided to the university prior to the end of the financial year and which are unpaid. the amounts are unsecured and are usually paid within 45 days (2010: 30 days) of recognition.

(n) BorroWinGsBorrowings are initially recognised at fair value, net of transaction costs incurred. As the interest rate is zero on the current loan the subsequent measurement is equal to the initial cost.

Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date.

(o) provisionsprovisions for legal claims and obligations are recognised when the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. provisions are not recognised for future operating losses.

provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the balance sheet date.


80 81

(p) income taXVictoria university, Victoria university Foundation and Victoria university Foundation ltd are exempt from income tax pursuant to section 50.5 and 50.55 of the Income tax Assessment Act 1997. All other controlled entities are subject to income tax.

the income tax expense for the period and the liability at the end of the period are based on the tax payable on the current period’s taxable income. this is based on the national income tax rate for each jurisdiction.

(Q) leasesleases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases (note 22(a)). payments made under operating leases are charged to the income statement on a straight line basis over the period of the lease.

the university is neither a lessor or lessee of a finance lease arrangement.

(r) GooDs anD services taX (Gst)Revenues, expenses and assets are recognised net of the amount of associated GSt, unless the GSt incurred is not recoverable from the taxation authority. In this case, it is recognised as part of the cost acquisition of the asset or as part of the expense.

Receivables and payables are stated inclusive of the amount of GSt receivable or payable. the net amount of GSt recoverable from, or payable to, the taxation authority is included with other receivables or payables in the statement of financial position.

Cash flows are presented on a gross basis. the GSt components of cash flows arising from investing or financing activities which are recoverable from, or payable to the taxation authority, are presented as operating cash flows.

(s) revenUe recoGnitionRevenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are net of any taxes paid. the Group recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the Group and specific criteria have been met for each of the Group’s activities as described below. the Group bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. Revenue is recognised for the major business activities as follows:

(i) goVernment grAntsCommonwealth and State Government operating grants are recognised at their fair value as income in the period in which they are received or when the university obtains control of the rights to receive the grants, it is likely that the economic benefits will flow to the entity and it can be reliably measured.

(ii) student fees And chArgesStudent fees and charges revenue is recognised as income in the year of receipt, except to the extent that fees and charges relate to courses to be held in future periods. Such income is treated as income in advance. In respect of courses or programs to be delivered in future years, any non-refundable portion of the fees is treated as revenue in the year of receipt.

(iii) leAse incomelease income from operating leases is recognised in income on a straight line basis over the lease term.

(iV) other reVenueRevenue from the provision of goods or services is recognised when goods are delivered or services have been rendered. Where fee for service revenue of a reciprocal nature has

been clearly received in respect of programs or services to be delivered in the following year, such amounts are deferred and disclosed as revenue in advance.

Investment income is recognised on a proportional basis taking into account the interest rates applicable to the financial assets. Any gain or loss on disposal is recognised at the date control of the asset is passed to the buyer and is determined after deducting from the proceeds the carrying value of the asset at the time. Dividends are recognised in the period in which they are received.

All other revenues are recognised in the year to which they apply.

(t) foreiGn cUrrencY transactions

(i) functionAl And presentAtion currencyItems included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). the consolidated financial statements are presented in Australian dollars, which is Victoria university’s functional and presentation currency.

(ii) trAnsActions And bAlAncesForeign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.

exchange differences arising on the translation of non-monetary financial assets and liabilities are reported as part of the foreign currency translation reserve in equity.

(iii) group entitiesthe results and financial position of all the Group entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

– assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statement of financial position;

– income and expenses for each income statement are translated at average exchange rates; and

– all resulting exchange differences are recognised as a separate component of equity.

on consolidation, exchange differences arising from the translation of any net investment in foreign entities are taken to equity.

(U) roUnDinG of amoUntsthe group is of a kind referred to in Class order 98/0100 as amended by Class order 04/667, issued by the Australian Securities and Investments Commission, relating to the ''rounding off'' of amounts in the financial report. Amounts in the financial statements have been rounded off in accordance with that Class order to the nearest thousand dollars.

(v) UnfUnDeD sUperannUationIn accordance with the 1998 instructions issued by the Department of education, training and Youth Affairs (DetYA) now known as the Department of education, employment and Workplace Relations (DeeWR) the effects of the unfunded superannuation liabilities of the university and its controlled entities were recorded in the income statement and the statement of financial position for the first time in 1998. the prior years’ practice had been to disclose liabilities by way of a note to the financial statements.

the unfunded liabilities recorded in the statement of financial position under provisions have been determined by the actuaries and relates to State Superannuation Fund based on the 30 June 2011 valuation date.

An arrangement exists between the Australian Government and the State Government to meet the unfunded liability for the university’s beneficiaries of the State Superannuation Scheme on an emerging cost basis. this arrangement is evidenced by


the State Grants (General Revenue) Amendment Act 1987, Higher education Funding Act 1988 and subsequent amending legislation. Accordingly the unfunded liabilities have been recognised in the statement of financial position under provisions with a corresponding asset recognised under Receivables. the recognition of both the asset and the liability consequently does not affect the year end net asset position of the university and its controlled entities.

Any unfunded liabilities in respect of tAFe employees who are members of the State Superannuation Scheme controlled by the Victorian Superannuation Board will be recognised by the State Government in its statement of financial position.

(W) fair valUe estimationthe fair value of financial assets and financial liabilities have been estimated for recognition and measurement or for disclosure purposes.

the Group has classified the fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. the fair value of financial instruments traded in active markets (such as listed shares) is based on quoted market prices for identical assets or liabilities at the period end (level 1). the quoted market price used for financial assets held by the Group is the current bid price.

the fair value of financial instruments traded in active markets is based on quoted market prices at the balance sheet date. the quoted market price used for financial assets held by the Group's is the current bid price. the university uses a variety of methods and makes assumptions that are based on market conditions existing at each balance date. Quoted market prices or dealer quotes for similar instruments (level 2) are used for unlisted shares. other techniques that are not based on observable market data (level 3) such as estimated discounted cash flows, are used to determine fair value for the remaining financial instruments. the level in the fair value hierarchy shall be determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety.

the carrying value less impairment provision of trade receivables and payables are assumed to approximate to their fair values due to their short term nature.

(X) emploYee Benefitsprovision is made for benefits accruing to employees in respect of wages and salaries, annual leave and long service leave when it is probable that settlement will be required and they are capable of being measured reliably. the calculation of employee benefits includes all relevant on costs and are calculated as follows at reporting date.

(i) wAges And sAlAries, And AnnuAl leAVeliabilities for wages and salaries, including non-monetary benefits and annual leave expected to be settled within 12 months of the reporting date are recognised in provisions in respect of employee's services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled. Regardless of the expected timing of settlements, provisions made in respect of employee benefits are classified as a current liability, unless there is an unconditional right to defer the settlement of the liability for at least 12 months after the reporting date, in which case it would be classified as a non-current liability.

the university recognises as an employee benefit liability, the carry forward of points accrued under the Academic Workloads Model (AWM). the AWM is defined in the Victoria university’s enterprise agreement as a points based model that accounts for all hours worked by an academic over a calendar year. the model allows the carry forward of up to 10% of points per year above the normal level of 100 points.

As the university has no unconditional right to defer the settlement of this liability for at least 12 months after reporting date, and expects the points to be utilised within the next 12 months, the liability has been classified as current. Hence, the liability has been measured at nominal amount based on the additional amount that the university expects to pay as a result of the unused entitlement.

(ii) long serVice leAVethe liability for long service leave is recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect

of services provided by employees up to the reporting date. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.

Regardless of the expected timing of settlement, provisions made in respect of employee benefits are classified as a current liability unless there is an unconditional right to defer the settlement of the liability for at least 12 months after the reporting date, in which case it would be classified as a non-current liability at present value. provisions made for unconditional long service leave would be classified as a current liability where the employee has a present entitlement to the benefit. the components of this current liability are measured at either: the nominal value component that the university expects to settle within 12 months, or the present value component that the university does not expect to settle within 12 months. A non-current liability would include long service leave entitlement accrued for employees with less than 7 years of continuous service.

(iii) retirement benefit obligAtionsthe majority of the employees of the Group are entitled to benefits on retirement, disability or death from the Group’s superannuation plan. the Group has a defined benefit and contribution scheme within one of its plans. the defined benefit scheme provides defined lump sum benefits based on years of service and final average salary. the defined contribution scheme receives fixed contributions from the Group and the Group’s legal or constructive obligation is limited to these contributions.

A liability or asset in respect of one of the defined benefit superannuation plans, State Superannuation Fund, is recognised in the statement of financial position, and is measured as the present value of the defined benefit obligation at the reporting date less the fair value of the superannuation fund’s assets at that date and any unrecognised past service cost. the present value of the defined benefit obligation is based on expected future payments which arise from membership of the fund to the reporting date, calculated annually by independent actuaries. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service.

expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised in the period in which they occur in the income statement.

past service costs are recognised immediately in income, unless the changes to the superannuation fund are conditional on the employees remaining in service for a specified period of time (the vesting period). In this case, the past service costs are amortised on a straight line basis over the vesting period.

(iV) terminAtion benefitstermination benefits are payable when employment is terminated before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits.

the Group recognises termination benefits when it is demonstrably committed to either terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal or providing termination benefits as a result of an offer made to encourage voluntary redundancy. Benefits falling due within 12 months are valued at nominal amount, and amounts falling due more than 12 months after balance date are discounted at present value.

(Y) neW accoUntinG stanDarDs anD interpretationsCertain new Accounting Standards and Interpretations have been published that are not mandatory for 31 December 2011 reporting periods. Victoria university's assessment of the impact of these new Standards and Interpretations is set out below:


82 83


amenDinG pronoUncements anD

errata stanDarDs affecteD oUtline of amenDment

application Date of

stanDarD

impact on financial

statements

2009-11 AmendmentstoAustralianAccountingStandardsarisingfromAASB9

AmendsAASB1,3,4,5,7,101,102,108,112,118, 121, 127, 128, 131, 132, 136, 139, 1023 and1038andInterpretations10and12asaresultoftheissuanceofAASB9

TheseamendmentsarisefromtheissuanceofAASB9financialInstruments

Reportingperiodsbeginningon1January2015.

Impactexpectedtobeinsignificant

2010-2 AmendmentstoAustralianAccountingStandardsarisingfromReducedDisclosureRequirements

ThisStandardgiveseffecttoAustralianAccountingStandards–ReducedDisclosureRequirementsandamendsAASB1,2,3,5,7, 8, 101, 102, 107, 108, 110, 111, 112, 116, 117, 119, 121, 123, 124, 127, 128, 131, 133, 134,136,137,138,140,141,1050&1052andInterpretations2,4,5,15,17,127,129&1052

ThisStandardestablishesadifferentialfinancialreportingframeworkconsistingoftwoTiersofreportingrequirementsforpreparinggeneralpurposefinancialstatements: (a)Tier1:AustralianAccountingStandards;and (b)Tier2:AustralianAccountingStandards–ReducedDisclosureRequirements. Tier2comprisestherecognition,measurementandpresentationrequirementsofTier1andsubstantiallyreduceddisclosurescorrespondingtothoserequirements.ThefollowingentitiesapplyTier1requirementsinpreparinggeneralpurposefinancialstatements:

(a)for-profitentitiesintheprivatesectorthathavepublicaccountability(asdefinedinthisStandard);and

(b)theAustralianGovernmentandState,TerritoryandlocalGovernments.

ThefollowingentitiesapplyeitherTier2orTier1requirementsinpreparinggeneralpurposefinancialstatements:

(a)for-profitprivatesectorentitiesthatdonothavepublicaccountability;

(b)allnot-for-profitprivatesectorentities;and

(c)publicsectorentitiesotherthantheAustralianGovernmentandState,TerritoryandlocalGovernments.

whilstTier2requirementswouldbeavailabletoallnot-for-profitprivatesectorentitiesandmostpublicsectorentities,regulatorsmightexerciseapowertorequiretheapplicationofTier1requirementsbytheentitiestheyregulate.

Reportingperiodsbeginningon1July2013.

Allnotapplicable-ReducedDisclosureRequirementsnotavailableduetothelevelofpublicaccountability

2010-6 AmendmentstoAustralianAccountingStandards-DisclosuresonTransfersoffinancialAssets

AmendsAASB1and7 ThisStandardaddsandamendsdisclosurerequirementsabouttransfersoffinancialassets,includinginrespectofthenatureofthefinancialassetsinvolvedandtherisksassociatedwiththem.


NotApplicable

2010-7 AmendmentstoAustralianAccountingStandardsarisingfromAASB9(December2010)

AmendsAASB1,3,4,5,7,101,102,108,112,118, 120, 121, 127, 128, 131, 132, 136, 137, 139,1023&1038andInterpretations2,5,10,12,19&127foramendmentstoAASB9inDecember2010

TheseamendmentsarisefromtheissuanceofAASB9financialInstrumentsasissuedinDecember2010



2010-8 AmendmentstoAustralianAccountingStandards–DeferredTax:RecoveryofUnderlyingAssets

AmendsAASB112 Amendmenttointroducearebuttablepresumptionthataninvestmentpropertyisrecoveredentirelythroughsaleforthepurposeofmeasuringdeferredtax.


NotApplicable

2010-9 furtherAmendmentstoAustralianAccountingStandards–RemovaloffixedDatesforfirst-timeAdopters

AmendmentstoAASB1 TheseamendmentsarisefromtheissuanceofSeverehyperinflationandRemovaloffixedDatesforfirst-timeAdopters(AmendmentstoIfRS1)bytheInternationalAccountingStandardsBoardinDecember2010.


NotApplicable

2010-10 furtherAmendmentstoAustralianAccountingStandards–RemovaloffixedDatesforfirst-timeAdopters

AmendsAASB1forfirst-timeadopters TheamendmentsultimatelyaffectAASB1first-timeAdoptionofAustralianAccountingStandardsandprovidereliefforfirst-timeadoptersofAustralianAccountingStandardsfromhavingtoreconstructtransactionsthatoccurredbeforetheirdateoftransitiontoAustralianAccountingStandards.


NotApplicable

(Y) neW accoUntinG stanDarDs anD interpretations (continUeD)




application Date of

stanDarD

impact on financial

statements

2011-1 AmendmentstoAustralianAccountingStandardsarisingfromtheTrans-TasmanConvergenceProject–ReducedDisclosureRequirements

AmendmentstoAASB1,5,101,107,108,128,132,134&Interpretation2,112&113

TheseamendmentsresultfromtheproposalsthatwereincludedinExposureDraftAASBED200A/fRSBED121ProposalstoharmoniseAustralianandNewZealandStandardsinRelationtoEntitiesApplyingIfRSsasAdoptedinAustraliaandNewZealand.



2011-2 AmendmentstoAustralianAccountingStandardsarisingfromtheTrans-TasmanConvergenceProject–ReducedDisclosureRequirements

AmendstoAASB101&AASB1054 ThisStandardmakesamendmentstoarangeofAustralianAccountingStandardsandInterpretationsforthepurposeofcloseralignmenttoIfRSsandharmonisationbetweenAustralianandNewZealandStandards.



2011-3 AmendmentstoAustralianAccountingStandards–OrderlyAdoptionofChangestotheABSGfSManualandRelatedAmendments

AmendmentstoAASB1049 ThisStandardappliestoeachgovernment’swholeofgovernmentgeneralpurposefinancialstatementsandGeneralGovernmentSector(GGS)financialstatements.


Noimpact

2011-4 AmendmentstoAustralianAccountingStandardstoRemoveIndividualkeyManagementPersonnelDisclosureRequirements

AmendmentstoAASB124 ThisStandardmakesamendmentstoAustralianAccountingStandardsforthepurposeofcloseralignmenttoIfRSsandharmonisationbetweenAustralianandNewZealandStandards.


Noimpact;disclosureonly

2011-5 AmendmentstoAustralianAccountingStandards–ExtendingRelieffromConsolidation,theEquityMethodandProportionateConsolidation

AmendmentstoAASB127,128&AASB131 TheseamendmentsresultfromtheproposalsthatwereincludedinExposureDraftED205ExtendingRelieffromConsolidation,theEquityMethodandProportionateConsolidation.


Noimpact

2011-6 AmendmentstoAustralianAccountingStandards–ExtendingRelieffromConsolidation,theEquityMethodandProportionateConsolidation–ReducedDisclosureRequirements

AmendstoAASB127,128&131 ThisStandardextendstherelieffromconsolidation,theequitymethodandproportionateconsolidationincertaincircumstancestoaparententity,investororventurerwheretheultimateoranyintermediateparententitypreparesconsolidatedfinancialstatementsthatarenotcompliantwithIfRSasaresultofapplyingAustralianAccountingStandards–ReducedDisclosureRequirements.



2011-7 AmendmentstoAustralianAccountingStandardsarisingfromtheConsolidationandJointArrangementsStandards

AmendsAASB1,2,3,5,7,9,2009-11,101,107,112, 118, 121, 124, 132, 133, 136, 138, 139, 1023&1038andInterpretations5,9,16&17asaresultoftheissuanceofAASB10,11,12,127and128

ThisStandardgiveseffecttomanyconsequentialchangesasaconsequenceoftheissuanceofAASB10ConsolidatedfinancialStatements,AASB11JointArrangements,AASB12DisclosureofInterestsinOtherEntities,AASB127SeparatefinancialStatementsandAASB128InvestmentsinAssociatesandJointVenturesinAugust2011.



2011-8 AmendmentstoAustralianAccountingStandardsarisingfromAASB13

AmendsAASB1,2,3,4,5,7,9,101,102,108,110, 116, 117, 118, 119, 120, 121, 132, 133, 134,136,138,139,140,141,1004,1023&1038andInterpretations2,4,12,13,14,17,19,131&132asaresultofissuanceofAASB13fairValueMeasurement

ThisStandardestablishesanewdefinitionof‘fairvalue’andgeneralrequirementswhenmeasuringthefairvalueofassetsandliabilities.ThisStandardreplacestheexistingdefinitionandfairvalueguidanceinotherAustralianAccountingStandardsandInterpretations.



2011-9 AmendmentstoAustralianAccountingStandards–PresentationofItemsofOtherComprehensiveIncome

AmendsAASB1,5,7,101,112,120,121,132,133,134,1039&1049asaconsequenceoftheissuanceofAASB101PresentationofItemsofOtherComprehensiveIncome

TheseamendmentsarisefromtheissuanceoftheIASBStandardPresentationofItemsofOtherComprehensiveIncome(AmendmentstoIAS1)inJune2011.



2011-10 AmendmentstoAustralianAccountingStandardsarisingfromAASB119(September2011)

AmendsAASB1,8,101,124,134,1049,2011-8&Interpretation14asaresultoftheissuanceofAASB119EmployeeBenefits

TheseamendmentsariseasaconsequenceoftheissuanceofAASB119EmployeeBenefits.




84 85




application Date of

stanDarD

impact on financial

statements

2011-11 AmendmentstoAASB119(September2011)arisingfromReducedDisclosureRequirements

ThisStandardmakesamendmentstoAASB119EmployeeBenefits,toincorporatereduceddisclosurerequirementsintotheStandardforentitiesapplyingTier2requirementsinpreparinggeneralpurposefinancialstatements.


NotApplicable

2011-12 AmendmentstoAustralianAccountingStandardsarisingfromInterpretation20

AmendmentstoAASB1 ThisStandardistomakeamendmentstoAASB1first-timeAdoptionofAustralianAccountingStandardsasaconsequenceoftheissuanceofIfRICInterpretation20bytheInternationalAccountingStandardsBoard.


Noimpact

2011-13 AmendmentstoAASB1049wholeofGovernmentandGeneralGovernmentSectorfinancialReporting,toimprovethatStandardatanoperationallevel

AmendmentstoAASB1049 ThisStandardappliestoeachgovernment’swholeofgovernmentgeneralpurposefinancialstatementsandGeneralGovernmentSector(GGS)financialstatements.



AASB9financialInstruments(revised)

ReplacestherequirementsofAASB139fortheclassificationandmeasurementoffinancialassets.ThisistheresultofthefirstpartofPhase1oftheIASB’sprojecttoreplaceIAS39.



AASB10ConsolidatedfinancialStatements

ReplacestherequirementsofAASB127andInterpretation112pertainingtotheprinciplestobeappliedinthepreparationandpresentationofconsolidatedfinancialstatements.



AASB11JointArrangements ReplacestherequirementsofAASB131pertainingtotheprinciplestobeappliedforfinancialreportingbyentitiesthathaveininterestinarrangementsthatarejointlycontrolled.


Noimpact

AASB12DisclosureofInterestsinOtherEntities

ReplacesthedisclosurerequirementsofAASB127andAASB131pertainingtointerestsinotherentities.


Noimpact;disclosureonly

AASB13fairValueMeasurement Providesacleardefinitionoffairvalue,aframeworkformeasuringfairvalueandrequiresenhanceddisclosuresaboutfairvaluemeasurement.



AASB119EmployeeBenefits Prescribestheaccountinganddisclosureforemployeebenefits.ThisStandardprescribestherecognitioncriteriawheninexchangeforemployeebenefits.



AASB127SeparatefinancialStatements

Prescribestheaccountinganddisclosurerequirementsforinvestmentsinsubsidiaries,jointventuresandassociateswhenanentitypreparesseparatefinancialstatements.


NotApplicable

AASB128InvestmentsinAssociatesandJointVentures

Prescribestheaccountingforinvestmentsinassociatesandsetsouttherequirementsfortheapplicationoftheequitymethodwhenaccountingforinvestmentsinassociatesandjointventures.



AASB1053ApplicationofTiersofAustralianAccountingStandards

ThisstandardestablishesadifferentialfinancialreportingframeworkconsistingoftwoTiersofreportingrequirementsforpreparinggeneralpurposefinancialstatements.


NotApplicable

AASB1054AustralianAdditionalDisclosures

ThisStandardsetsouttheAustralian-specificdisclosuresforentitiesthathaveadoptedAustralianAccountingStandards.ThisStandardcontainsdisclosurerequirementsthatareadditionalto ifrss.




(a) GeoGraphical [consoliDateD entitY] revenUe* resUlts assets

2011 2010 2011 2010 2011 2010$’000 $’000 $’000 $’000 $’000 $’000

Australia 455,769 463,030 9,011 31,808 972,864 962,644

Asia 8,617 10,367 (437) 2,365 447 915

others 149 130 67 56 - -

TotalGeographical 464,535 473,527 8,641 34,229 973,311 963,559

2. DisaGGreGateD information

(B) inDUstrY [parent entitY]

income statement

hiGher eDUcation vet

total UniversitY


total UniversitY

2011 2011 2011 2010 2010 2010

$’000 $’000 $’000 $’000 $’000 $’000

income from continuing operations

Australian Government financial assistance

Australian Government grants 134,652 14,000 148,652 127,183 5,783 132,966

HeCS-Help – Australian Government payments 67,465 - 67,465 67,488 - 67,488

Fee-Help & Vet Fee-Help 5,726 2,820 8,546 5,310 3,297 8,607

State and local Government financial assistance 109 104,709 104,818 176 105,183 105,359

HeCS-Help – Student payments 7,921 - 7,921 8,124 - 8,124

Fees & charges 54,115 30,007 84,122 55,616 34,612 90,228

Investment income 2,545 1,014 3,559 2,633 1,181 3,814

Royalties and licenses 17 - 17 257 53 310

Consultancy and contracts 6,811 458 7,269 4,735 539 5,274

other revenue 21,872 8,141 30,013 16,911 7,424 24,335

301,233 161,149 462,382 288,433 158,072 446,505

Deferred Government Superannuation Contributions 1,707 - 1,707 23,017 - 23,017

total income from continuing operations 302,940 161,149 464,089 311,450 158,072 469,522

expenses from continuing operations

employee related expenses 199,253 101,569 300,822 178,732 95,342 274,074

Depreciation and amortisation 15,790 7,962 23,752 11,964 7,698 19,662

Repairs and maintenance 12,978 5,448 18,426 12,726 5,914 18,640

Impairment of assets (132) 4 (128) 293 16 309

other expenses 75,461 35,322 110,783 61,166 38,464 99,630

303,350 150,305 453,655 264,881 147,434 412,315

Deferred employee Benefits for Superannuation 1,707 - 1,707 23,017 - 23,017

total expenses from continuing operations 305,057 150,305 455,362 287,898 147,434 435,332

operating result before income tax for the period (2,117) 10,844 8,727 23,552 10,638 34,190

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 2. disAggregAted informAtion

*the above revenue is the total revenue including the gross proceeds on sale of non-current assets, whereas the income statement revenue includes the net (loss) or gain on disposal of non- current assets i.e. proceeds less written down value of assets sold. Refer to note 12(b) for the written down value included in the income statement in arriving at the net gain or loss on disposal of property, plant and equipment.

86 87

(B) inDUstrY [parent entitY] continued

statement of financial position


total UniversitY


total UniversitY

2011 2011 2011 2010 2010 2010

$’000 $’000 $’000 $’000 $’000 $’000

assets

current assets

Cash and cash equivalents 11,796 2,643 14,439 49,846 2,063 51,909

Receivables 17,758 14,027 31,785 20,017 26,317 46,334

Inventories 1,159 462 1,621 950 427 1,377

other financial assets 12,285 2,715 15,000 - - -

non-current assets held for sale 20,163 8,037 28,200 - - -

other non-financial assets 5,731 1,859 7,590 4,470 1,779 6,249

total current assets 68,892 29,743 98,635 75,283 30,586 105,869

non-current assets

Receivables 145,605 - 145,605 145,342 - 145,342

other financial assets 1,288 579 1,867 9,077 579 9,656

property, plant and equipment 428,829 242,315 671,144 432,930 235,357 668,287

Intangible assets 31,531 7,934 39,466 20,749 3,510 24,259

other non-financial assets 11,820 4 11,824 5,104 7 5,111

total non-current assets 619,073 250,833 869,906 613,202 239,453 852,655

total assets 687,965 280,576 968,541 688,485 270,039 958,524

liaBilities

current liabilities

trade and other payables 18,864 8,900 27,764 23,765 9,070 32,835

provisions 46,530 12,449 58,979 41,311 12,600 53,911

other liabilities 2,959 1,648 4,607 3,475 2,012 5,487

total current liabilities 68,353 22,997 91,350 68,551 23,682 92,233

non-current liabilities

provisions 150,522 1,485 152,007 148,726 1,105 149,831

other liabilities 33 13 46 34 15 49

total non-Current liabilities 150,555 1,498 152,053 148,760 1,120 149,880

total liaBilities 218,908 24,495 243,403 217,311 24,802 242,113

net assets 469,057 256,081 725,138 471,174 245,237 716,411

eQUitY

Reserves 204,987 79,874 284,861 204,987 79,874 284,861

Retained earnings 264,070 176,207 440,277 266,187 165,363 431,550

total eQUitY 469,057 256,081 725,138 471,174 245,237 716,411

2. DisaGGreGateD information (continUeD)

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 2. disAggregAted informAtion continued


statement of chanGes in eQUitY

reserves retaineD earninGs total


total UniversitY


total UniversitY


total UniversitY

$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Balance as 1 January 2010 193,198 69,578 262,776 242,635 154,725 397,360 435,833 224,303 660,136

total comprehensive income - - - 23,552 10,638 34,190 23,552 10,638 34,190

Revaluation increment/(decrement) 11,789 10,296 22,085 - - - 11,789 10,296 22,085

Balance at 31 December 2010 204,987 79,874 284,861 266,187 165,363 431,550 471,174 245,237 716,411

Balance at 1 January 2011 204,987 79,874 284,861 266,187 165,363 431,550 471,174 245,237 716,411

total comprehensive income - - - (2,117) 10,844 8,727 (2,117) 10,844 8,727

Revaluation increment/(decrement) - - - - - - - - -

Balance at 31 December 2011 204,987 79,874 284,861 264,070 176,207 440,277 469,057 256,081 725,138



88 89


statement of cash floWs

hiGher eDUcation vet total

UniversitYhiGher

eDUcation vet total UniversitY

2011 2011 2011 2010 2010 2010

$’000 $’000 $’000 $’000 $’000 $’000

cash floWs from operatinG activities

Australian Government Grants received 199,126 14,000 213,126 208,889 2,687 211,576

oS-Help (net) 598 - 598 (598) - (598)

Superannuation Supplementation 7,318 - 7,318 5,848 - 5,848

State Government Grants received 8,568 101,628 110,196 1,479 97,641 99,120

local Government Grants received 91 - 91 97 - 97

HeCS-Help – Student payments 7,921 - 7,921 8,124 - 8,124

Receipts from student fees and other customers 75,935 57,169 133,104 72,214 42,878 115,092

Dividends received 134 54 188 6 1 7

Interest received 2,340 1,025 3,365 2,836 1,266 4,102

Royalties received 17 - 17 257 53 310

payments to suppliers and employees (inc. of GSt) (295,510) (147,648) (443,158) (253,700) (141,969) (395,669)

GSt recovered/paid 4,917 2,137 7,054 7,305 3,282 10,587

net cash provided by/(used in) operating activities 11,455 28,365 39,820 52,757 5,839 58,596

cash floW from investinG activities

proceeds from sale of property, plant and equipment 20 49 69 3,208 2,308 5,516

purchase of financial assets (12,285) (2,715) (15,000) (5,989) - (5,989)

payments for property, plant and equipment (25,572) (20,268) (45,840) (44,282) (12,391) (56,673)

payments for intangible assets (11,662) (4,845) (16,507) (14,266) (1,438) (15,704)

proceeds from sale of financial assets - - - 24,204 3,796 28,000

net cash provided by/(used in) investing activities (49,499) (27,779) (77,278) (37,125) (7,725) (44,850)

cash floW from financinG activities

Repayment of borrowings (7) (5) (12) (9) (3) (12)

net cash provided by/(used in) financing activities (7) (5) (12) (9) (3) (12)

net increase/(decrease) in cash and cash equivalents (38,051) 581 (37,470) 15,623 (1,889) 12,587

Cash and cash equivalents at the beginning of the financial year

49,846 2,063 51,909 34,223 3,952 38,175

cash and cash equivalents at the end of the financial year 11,795 2,644 14,439 49,846 2,063 51,909

non-cash financing and investing activities - - - - - -



(a) aUstralian Government financial assistance consoliDateD UniversitY

2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(a) commonWealth Grants scheme anD other Grants

Commonwealth Grants Scheme #1 107,969 102,164 107,969 102,164

Indigenous Support Fund 202 186 202 186

partnership and participation program #2 3,364 1,861 3,364 1,861

Disability Support program 58 94 58 94

Workplace Reform program - - - -

Workplace productivity program - 1,572 - 1,572

Capital Development pool - 3,127 - 3,127

Superannuation Supplementation 7,318 5,848 7,318 5,848

Diversity and Structural Adjustment Fund #3 52 - 52 -

transitional Cost program 166 238 166 238

total commonwealth Grants scheme and other Grants 29(a)&(i) 119,129 115,090 119,129 115,090

(B) hiGher eDUcation loan proGrammes

HeCS-Help 67,465 67,488 67,465 67,488

Fee-Help #4 6,179 5,741 6,179 5,741

Vet Fee-Help 2,367 2,866 2,367 2,866

total higher education loan programmes 29(b) 76,011 76,095 76,011 76,095

(c) scholarships

Australian postgraduate Awards 1,637 1,266 1,637 1,266

International postgraduate Research Scholarships 158 169 158 169

Commonwealth education Costs Scholarship #5 1,264 1,271 1,264 1,271

Commonwealth Accommodation Scholarships #5 18 11 18 11

Indigenous Access scholarships 9 21 9 21

total scholarships 29(c) 3,086 2,738 3,086 2,738

(D) Diisr research

Joint Research engagement program #6 2,355 2,146 2,355 2,146

Research training Scheme 4,767 4,767 4,767 4,767

Research Infrastructure Block Grants 222 190 222 190

Implementation Assistance programme - 46 - 46

Australian Scheme for Higher education Repositories - - - -

Commercialisation training Scheme 65 47 65 47

Sustainable Research excellence in universities 251 329 251 329

total Diisr – research Grants 29(d) 7,660 7,525 7,660 7,525

(e) other capital fUnDinG

Better universities Renewal Funding - - - -

teaching and learning Capital Fund - - - -

education Investment Fund 14,000 5,757 14,000 5,757

total other capital funding 29(f) 14,000 5,757 14,000 5,757

3. income

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 3. income

#1 includes the basic CGS grant amount, CGS enabling loading and Maths and Science transition loading, CGS Facilitation Funding and Full Fee places transition loading #2 includes equity Support program#3 includes Collaboration & Structural Adjustment program #4 program is in respect of Fee-Help for Higher education only and excludes funds received in respect of Vet Fee-Help #5 includes national priority and national Accommodation priority, ICAS and ICeCS Scholarships respectively #6 includes Institutional Grants Scheme

90 91

(a) aUstralian Government financial assistance (continued)


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(f) australian research council

(i) Discovery

Discovery projects – large Grants 160 123 160 123

total Discovery 29(g) 160 123 160 123

(ii) linkages

linkage projects – Spirit 1,003 996 1,003 996

total linkages 29(g) 1,003 996 1,003 996

total australian research council 1,163 1,119 1,163 1,119

3. income (continUeD)

(G) other australian Government financial assistance

other 2,021 568 2,021 568

national Health & Medical Research Council 408 168 408 168

Collaborative Research networks Grant 1,185 - 1,185 -

total other australian Government financial assistance 3,614 736 3,614 736

total australian Government financial assistance 224,663 209,060 224,663 209,060

reconciliation

Australian Government Grants (A + C + D + e + F + G ) 148,652 132,965 148,652 132,965

HeCS-Help - Australian Government payments (B) 67,465 67,488 67,465 67,488

Fee-Help payments (B) 6,179 5,741 6,179 5,741

Vet Fee-Help payments (B) 2,367 2,866 2,367 2,866

total australian Government financial assistance 224,663 209,060 224,663 209,060

(h) australian Government Grants received – cash basis

CGS and other DeeWR Grants 111,811 113,731 111,811 113,731

Higher education loan programs 71,829 85,463 71,829 85,463

Scholarships 3,086 3,099 3,086 3,099

DIISR Research 7,660 7,525 7,660 7,525

Voluntary Student unionism - - - -

other Capital Funding 14,000 - 14,000 -

ARC grants – Discovery 160 103 160 103

ARC grants – linkages 943 919 943 919

other Australian Government Grants 2,452 736 2,452 736

Collaborative Research networks Grant 1,185 - 1,185 -

total australian Government Grants received – cash basis 213,126 211,576 213,126 211,576

oS-Help (net) 29(h) 598 (598) 598 (598)

Superannuation Supplementation 29(i) 7,318 5,848 7,318 5,848

total australian Government funding received – cash basis 221,042 216,826 221,042 216,826

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 3. income continued

(c) fees anD charGes

coUrse fees anD charGes

Fee-paying overseas students 54,554 57,348 54,531 57,194

Fee-paying domestic postgraduate students 1,884 2,133 1,884 2,133

Fee-paying domestic undergraduate students 235 112 127 123

Fee-paying domestic non-award students 816 1,149 816 1,149

other domestic course fees and charges:

tAFe Full Fee Australian Award 1,008 1,321 1,008 1,321

Fee for service 13,982 15,666 13,982 15,666

enrolment fees 4,794 5,484 4,794 5,484

total course fees and charges 77,273 83,213 77,142 83,070

other non-coUrse fees anD charGes

Student accommodation 2,655 3,079 2,655 3,079

Student material fees 3,121 2,808 3,121 2,808

Graduation fees 541 527 541 527

late enrolment fees 297 363 297 363

other 366 382 366 382

total other fees and charges 6,980 7,159 6,980 7,159

total fees and charges 84,253 90,372 84,122 90,229


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(B) state anD local Government financial assistanceVictorian Government grants were received during the reporting period for the following purposes:

hiGher eDUcation

other 109 176 109 176

109 176 109 176

tafe

Recurrent Funding 28,249 62,445 28,249 62,445

Contestable Income 62,542 19,807 62,542 19,807

Capital 4,891 6,372 4,891 6,372

Specific funded programs 8,272 15,922 8,272 15,922

other 755 637 755 637

104,709 105,183 104,709 105,183

total state and local Government financial assistance 104,818 105,359 104,818 105,359



92 93



2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(D) investment income

Interest on bank bills, term deposits and managed funds dividends 3,636 4,053 3,371 3,807

Dividends 188 7 188 7

total investment revenue 3,824 4,060 3,559 3,814

Change in fair value of financial assets designated as at fair value through profit & loss - (3) - -

total other investment losses - (3) - -

net investment income 3,824 4,057 3,559 3,814

(e) consUltancY anD contracts

Consultancy 536 305 536 305

Contract Research 604 580 604 580

other contract revenue 6,129 4,389 6,129 4,389

total consultancy and contracts 7,269 5,274 7,269 5,274

(f) other revenUe

other revenUe

net gain on sale of non-current assets 12(b) - 2,043 - 2,043

Sale of goods 7,514 7,710 7,514 7,710

property leases 3,941 4,966 3,941 4,966

library fees and fines 49 63 49 63

Donations and bequests 47 86 677 686

Scholarships and prizes 1,236 1,011 585 259

Commissions, subscriptions and sale of publications 963 912 963 912

Health unit and Vet clinic fees 324 298 324 29

Facilities and equipment hire 613 842 613 842

Seminar/conference income 227 319 227 329

parking meter and fines 1,500 1,312 1,500 1,312

Childcare 2,534 2,409 2,534 2,409

Miscellaneous 1,802 1,480 1,805 1,480

Gain arising from remeasurement of non-current asset held for sale 10 8,084 - 8,084 -

Disbursements on charged/reimbursements 894 729 894 729

non-government grants 303 297 303 297

total other revenue 30,031 24,477 30,013 24,335



2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(a) emploYee relateD eXpenses

acaDemic

Salaries 114,663 110,157 114,663 110,157

Contributions to superannuation and pension schemes:

– emerging cost 6,252 5,169 6,252 5,169

– Funded 13,930 13,865 13,930 13,865

payroll tax 6,773 6,419 6,773 6,419

Worker's compensation 1,297 1,082 1,297 1,082

long service leave expense 2,506 3,847 2,506 3,847

Annual leave 10,001 7,468 10,001 7,468

other 197 100 197 100

total academic 155,619 148,107 155,619 148,107

non-acaDemic

Salaries 106,279 94,536 106,275 94,532

Contributions to superannuation and pension schemes:

– emerging cost 1,575 1,302 1,575 1,302

– Funded 15,503 14,028 15,503 14,028

payroll tax 6,181 5,502 6,181 5,502

Worker's compensation 1,183 1,073 1,183 1,073

long service leave expense 4,417 2,533 4,417 2,533

Annual leave 9,773 6,848 9,773 6,848

other 296 149 296 149

total non-academic 145,207 125,971 145,203 125,967

total employee related expenses 300,826 274,078 300,822 274,074

Deferred employee benefits for superannuation 1,707 23,017 1,707 23,017

total employee related expenses, including deferred Government employee Benefits for superannuation 302,533 297,095 302,529 297,091

(B) Depreciation anD amortisation

Depreciation

Buildings 13,970 11,400 13,970 11,400

leasehold property 210 35 210 35

library Collections 2,483 2,632 2,483 2,632

plant, equipment and motor vehicles 5,800 4,745 5,800 4,745

total depreciation 22,463 18,812 22,463 18,812

amortisation

Computer Software 1,289 850 1,289 850

total amortisation 1,289 850 1,289 850

total depreciation and amortisation 23,752 19,662 23,752 19,662

4. eXpenses

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 4. expenses

94 95


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(c) repairs anD maintenance

Repairs and maintenance 10,935 10,005 10,935 10,005

Minor works - 1,410 - 1,410

Cleaning 4,067 3,911 4,067 3,911

Security 3,266 3,182 3,266 3,182

others 158 132 158 132

total repairs and maintenance 18,426 18,640 18,426 18,640

(D) impairment of assets

Bad and Doubtful Debts

trade receivables (46) 305 (132) 305

Student loans 4 4 4 4

total impairment of assets (42) 309 (128) 309

4. eXpenses (continUeD)

(e) other eXpenses

Scholarships, grants and prizes 9,444 10,367 8,875 9,948

Refund of income received in prior year 1,920 14 1,920 14

Donations 60 45 253 35

telecommunications 6,661 5,899 6,661 5,899

non-capitalised equipment 6,133 7,603 6,133 7,603

travel, staff development and entertainment 10,857 10,386 10,857 10,386

Inventory used 4,874 5,320 4,874 5,320

operating lease rental expenses 7,128 5,898 7,128 5,898

energy costs 5,763 5,396 5,763 5,396

printing and stationeries 6,410 4,824 6,410 4,824

postage and freight 1,193 1,341 1,193 1,341

Fees and subscriptions 12,712 11,775 12,712 11,776

legal and professional fees 13,150 11,982 13,118 11,948

Advertising, marketing and promotional expenses 6,475 5,331 6,475 5,334

Class materials and consumables 5,271 5,164 5,271 5,164

Student placement and practicum expenses 3,386 2,559 3,386 2,559

net loss on sale of non-current assets 12(b) 348 - 348 -

other miscellaneous 9,409 6,203 9,406 6,185

total other expenses 111,194 100,107 110,783 99,630

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 4. expenses continued


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(a) income taX eXpense

Current tax (1) 9 - -

total income tax expense 5(b) (1) 9 - -

(B) nUmerical reconciliation of income taX eXpense to prima facie taX paYaBle

Victoria university (Singapore) pte ltd operating result from continuing operations before income tax expense 15 101 - -

Victoria university enterprises pty ltd operating result from continuing operations before income tax expense - (6) - -

tax at the Singaporean tax rate of 17% (2010: 17%) 3 17 - -

tax at the Australian tax rate of 30% (2010: 30%) - 1 - -

tax exemptions (2) (9) - -

prior year adjustment (2) - - -

5(a) (1) 9 - -

5. income taX

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 5. income tAx

96 97


2011 2010 2011 2010

$'000 $'000 $'000 $'000

Cash at bank and on hand 6,250 6,115 5,639 5,909

Deposits at call 3,800 16,035 3,800 16,000

Deposits – other 5,000 30,600 5,000 30,000

total cash and cash equivalent 15,050 52,750 14,439 51,909

(a) reconciliation to cash at the enD of the Year the above figures are reconciled to cash at the end of the year as shown in the statement of cash flows as follows:

Balances as above 15,050 52,750 14,439 51,909

Balance as per statement of cash flows 15,050 52,750 14,439 51,909

(B) cash at BanK anD on hanD Cash in operating accounts earns interest at the rate of 2.15% (2010: 2.65%).

(c) Deposits at call the deposits are at the floating interest rate of 4.15% (2010: rates were between 4.65% and 4.75%). these deposits are at call.

(D) Deposits – other Deposits – other are funds held in term deposits. At 31 December 2011, the funds earned interest at the rate of 5.95% (2010: rates were between 5.45% and 6.00%).

these deposits have an average maturity of 91 days.

6. cash anD cash eQUivalents

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 6. cAsh And cAsh equiVAlents


2011 2010 2011 2010

$'000 $'000 $'000 $'000

current

trade and sundry receivables 25,730 41,033 25,515 41,043

less: provision for impaired receivables (244) (295) (160) (295)

Student loans 14 17 14 17

less: provision for impaired receivables (11) (12) (11) (12)

oS-Help Receivable 200 798 200 798

Deferred Government Contributions for Superannuation 6,227 4,783 6,227 4,783

total current receivables 31,916 46,324 31,785 46,334

non-current

Deferred Government Contributions for Superannuation 145,605 145,342 145,605 145,342

total non-current receivables 145,605 145,342 145,605 145,342

total receivables 177,521 191,666 177,390 191,676

7. receivaBles

(a) impaireD receivaBlesAs at 31 December 2011 current receivables of the Group with a nominal value of $0.01 million (2010: $0.044 million) were impaired. the amount of the provision was $0.255 million (2010: $0.307 million). the individually impaired receivables mainly relate to trade and sundry debtors, which are in unexpectedly difficult economic situations. It was assessed that a portion of the receivables are expected to be recovered. the ageing of these receivables is as follows:

consoliDateD

2011 2010

$'000 $'000

cUrrent receivaBles

Between 0 and 3 months 84 -

Between 3 and 6 months - 246

over 6 months 171 61

255 307

the impaired receivables, aged between 0 and 3 months, relate to trade receivables of a subsidiary that management has determined are impaired due to a change in management's assessment of collectability.

the impaired receivables aged over 6 months relate to trade receivables still outstanding yet management has determined that recoverability may still occur.

As at 31 December 2011 trade receivables of $8.77 million (2010: $6.97 million) were past due but not impaired. these relate to a number of independent customers for whom there is no recent history of default. the ageing analysis of these receivables is as follows:

traDe receivaBles

Between 0 and 3 months 7,138 3,119

Between 3 and 6 months 1,395 137

over 6 months 239 3,719

8,772 6,975

movements in the provision for impaireD receivaBles are as folloWs:

At 1 January 307 41

provision for impairment recognised during the year (42) 309

Receivables written off during the year as uncollectible (10) (43)

unused amount reversed - -

255 307 the creation and release of the provision for impaired receivables has been included in ‘impairment of assets’ in the income statement. Amounts charged to the provision account are generally written off when there is no expectation of recovering additional cash.

the other amounts within receivables do not contain impaired assets and are not past due. Based on credit history, it is expected that these amounts will be received when due.

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 7. receiVAbles

98 99


2011 2010 2011 2010

$'000 $'000 $'000 $'000

current

trading Stock – at cost 1,621 1,377 1,621 1,377

1,621 1,377 1,621 1,377

8. inventories


2011 2010 2011 2010

$'000 $'000 $'000 $'000

current

available for sale assets

Available for sale - term Deposit* 19,150 4,326 15,000 -

total current other financial assets 19,150 4,326 15,000 -

non-current

other financial assets at cost

Shares in controlled entities at cost - - 150 150

other shares at cost** 2,037 2,037 2,037 2,037

Investments # - 7,789 - 7,789

less: Accumulated impairment losses (320) (320) (320) (320)

total non-current other financial assets 1,717 9,506 1,867 9,656

total other financial assets 20,867 13,832 16,867 9,656

9. other financial assets

* All available for sale investments are term deposits denominated in Australian dollars. therefore, there is no exposure to foreign currency risk. there is also no exposure to price risk as the investments will be held for 4-6 months, and will be converted to known amounts which are subject to insignificant changes in value.

** other Shares include investments in uniSuper ltd, IDp Australia ltd, International training Australia pty ltd, AARnet pty ltd and VeRnet pty ltd.

# In 2010 this represented the cost of investment with university of Melbourne and Western Health to develop, fund, construct, commission and commence operation of a teaching, training and Research facility on the Sunshine Hospital Campus. In 2011 the facility commenced operation and the amount was transferred to prepayments.

Changes in fair values of other financial assets at fair value through profit or loss are recorded in other income in the income statement (note 3(d) – Investment Income).

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 8. inVentories

11. other non-financial assets

10. non-cUrrent assets helD for sale


2011 2010 2011 2010

$'000 $'000 $'000 $'000

current

prepayments 7,590 6,249 7,590 6,249

non-current

prepayments 11,824 5,111 11,824 5,111

total other non-financial assets 19,414 11,360 19,414 11,360

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 10. non-current Assets held for sAle


notes 2011 2010 2011 2010

$'000 $'000 $'000 $'000

non-current assets held for sale

Buildings 28,200 - 28,200

total non-current assets held for sale 28,200 - 28,200 -

In november 2011 the university entered a contract to sell property. the contract was signed in 2011 however settlement occurred in 2012, thus the asset is recognised as held for sale at reporting date (note 25 events occurring after the end of the Reporting period).

movement in non-cUrrent assets helD for sale

net book amount at the beginning of the year - - - -

transfer to non-current asset held for sale 12 20,116 - 20,116 -

Fair value adjustment 3(f) 8,084 - 8,084 -

net book amount at the end of the year 28,200 - 28,200 -

the 2011 prepayments include the amount of the Victoria university, university of Melbourne and Western Health teaching, training and Research facility on the Sunshine Hospital Campus as explained in note 9.

100 101

(a) propertY, plant anD eQUipment (reconciliation of carrYinG amoUnts)

Movements in the carrying amount for each class of property, plant and equipment between the beginning and the end of the current financial year are set out below:

consoliDateD lanD BUilDinGsWorK in

proGress*leaseholD

improvem'tplant &

eQUipment

other plant &

eQUipment** liBrarY total

$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000

at 1 JanUarY 2010

– Cost - - 50,475 - - - 25,780 76,255

– Valuation 115,030 417,988 - 386 18,374 561 - 552,339

Accumulated depreciation - - - - - - (15,593) (15,593)

net book amount 115,030 417,988 50,475 386 18,374 561 10,187 613,001

Year enDeD 31 DecemBer 2010

opening net book amount 115,030 417,988 50,475 386 18,374 561 10,187 613,001

Additions 328 14,872 28,145 2,161 9,287 21 1,859 56,673

Assets classified as held for sale and other disposals/transfers (written down value)

(1,645) (1,430) (1,160) - (397) - - (4,632)

Revaluation increments/(decrements) 22,085 - - - - - - 22,085

Depreciation expense - (11,400) - (35) (4,746) - (2,631) (18,812)

closing net book amount 135,798 420,030 77,460 2,512 22,518 582 9,415 668,315

at 31 DecemBer 2010

– Cost - - 77,460 - - - 20,548 98,008

– Valuation 135,798 420,030 - 2,512 22,518 582 - 581,440


net book amount 135,798 420,030 77,460 2,512 22,518 582 9,415 668,315


opening net book amount 135,798 420,030 77,460 2,512 22,518 582 9,415 668,315

Additions - 17,368 19,377 77 6,734 24 2,260 45,840

Disposals - (20,394) - - (126) - - (20,520)

transfers between asset classes/adjustments - 71,324 (75,106) - 3,782 - - -

Revaluation increments/(decrements) - - - - - - - -



at 31 DecemBer 2011

– Cost - - 21,731 - - - 20,055 41,786

– Valuation 135,798 474,358 - 2,379 27,108 606 - 640,249


net book amount 135,798 474,358 21,731 2,379 27,108 606 9,192 671,172

12. propertY, plant anD eQUipment

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 12. property, plAnt And equipment

* Work in progress for 2011 consists of construction in progress of $21,186 (2010: $73,678) and data and telephony network installations of $545 (2010: $3,782).** other plant and equipment relates to artworks

UniversitY lanD BUilDinGsWorK in

proGress*leaseholD

improvem'tplant &

eQUipmentother plant &

eQUipment** liBrarY total

$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000

at 1 JanUarY 2010

– Cost - - 50,475 - - - 25,780 76,255

– Valuation 115,030 417,988 - 386 18,374 533 - 552,339


net book amount 115,030 417,988 50,475 386 18,374 533 10,187 612,973


opening net book amount 115,030 417,988 50,475 386 18,374 533 10,187 612,973

Additions 328 14,872 28,145 2,161 9,287 21 1,859 56,673

Assets classified as held for sale and other disposals/transfers (written down value)

(1,645) (1,430) (1,160) - (397) - - (4,632)

Revaluation increments/(decrements) 22,085 - - - - - - 22,085



at 31 DecemBer 2010

– Cost - - 77,460 - - - 20,548 98,008

– Valuation 135,798 420,030 - 2,512 22,518 554 - 581,412


net book amount 135,798 420,030 77,460 2,512 22,518 554 9,415 668,287


opening net book amount 135,798 420,030 77,460 2,512 22,518 554 9,415 668,287

Additions - 17,368 19,377 77 6,734 24 2,260 45,840

Disposals - (20,394) - - (126) - - (20,520)

transfers between asset classes/adjustments - 71,324 (75,106) - 3,782 - - -

Revaluation increments/(decrements) - - - - - - - -



at 31 DecemBer 2011

– Cost - - 21,731 - - - 20,055 41,786

– Valuation 135,798 474,358 - 2,379 27,108 578 - 640,221


net book amount 135,798 474,358 21,731 2,379 27,108 578 9,192 671,144

12. propertY, plant anD eQUipment (continUeD)

(a) propertY, plant anD eQUipment (reconciliation of carrYinG amoUnts) continued

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 12. property, plAnt And equipment continued

* Work in progress for 2011 consists of construction in progress of $21,186 (2010: 73,678) and data and telephony network installations of $545 (2010: $3,782).** other plant and equipment relates to artworks

102 103

consoliDateD anD UniversitY

2011 2010

$'000 $'000

at 31 DecemBer

Cost 43,072 26,617

Accumulated amortisation and impairment (3,606) (2,358)

net book amount 39,466 24,259

12. propertY, plant anD eQUipment (continUeD)

(B) operatinG resUlt from Disposal of propertY, plant anD eQUipment


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

proceeds from sale of property, plant and equipment 69 5,516 69 5,516

Written down value of assets sold and disposed of (417) (3,473) (417) (3,473)

Written down value of assets sold (417) (3,473) (417) (3,473)

net gain/(loss) on disposal of property, plant and equipment 3(f) & 4(e) (348) 2,043 (348) 2,043

13. intanGiBle assets

(a) closinG net BooK amoUntcompUter softWare

total

$'000 $'000


opening net book amount 8,245 8,245

Additions (work in progress $11,833) 15,704 15,704

transfers 1,160 1,160

Disposals - -

Amortisation (850) (850)

closing net book amount 24,259 24,259


opening net book amount 24,259 24,259

Additions (work in progress $15,805) 16,507 16,507

transfers - -

Disposals (11) (11)

Amortisation (1,289) (1,289)

closing net book amount 39,466 39,466

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 12. property, plAnt And equipment continued

(a) foreiGn cUrrencY risKthe carrying amounts of the Group's and university's trade and other payables are denominated in the following currencies:

Singapore Dollars 19 25 - -

Australian Dollars 27,808 33,051 27,764 32,835

27,827 33,076 27,764 32,835

trade creditors and other accruals are unsecured and are usually paid within 45 days (2010: 30 days) of recognition. For an analysis of the sensitivity of trade and other payables to foreign currency risk refer to note 27.

14. traDe anD other paYaBles


2011 2010 2011 2010

$'000 $'000 $'000 $'000

current

trade Creditors 7,447 6,872 7,447 6,872

Salaries Accrual* - 1,800 - 1,800

Sundry Creditors and other Accruals 20,380 24,404 20,317 24,163

total 27,827 33,076 27,764 32,835

*the salaries accrual in 2010 related to outstanding claims for a salary increase. the university has provided an amount of $1.8m for ‘back-pay’ for 2010, hence no such accrual raised in 2011.


2011 2010 2011 2010

$'000 $'000 $'000 $'000

current provisions expected to be settled within 12 months

employee benefits

Annual leave 14,102 11,797 14,102 11,797

long service leave 3,056 2,926 3,056 2,926

other 1,035 2,173 1,035 2,173

Defined benefit obligation 6,227 4,783 6,227 4,783

24,420 21,679 24,420 21,679

current provisions expected to be settled after more than 12 months

employee benefits

Annual leave 7,051 5,898 7,051 5,898


34,559 32,232 34,559 32,232

total current provisions 58,979 53,911 58,979 53,911

non-current provisions


Defined employee benefit obligation 145,605 145,342 145,605 145,342

leasehold Make Good provision 14 - 14 -

total non-current provisions 152,007 149,831 152,007 149,831

total provisions 210,986 203,742 210,986 203,742

15. provisions

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 14. trAde And other pAyAbles

104 105

16. other liaBilities


2011 2010 2011 2010

$'000 $'000 $'000 $'000

current

Student fees – in advance 4,600 5,472 4,600 5,472

other liabilities 7 15 7 15

total current other liabilities 4,607 5,487 4,607 5,487

non-current

other liabilities 46 49 46 49

total non-current other liabilities 46 49 46 49

total other liabilities 4,653 5,536 4,653 5,536


2011 2010 2011 2010

$'000 $'000 $'000 $'000

Income tax liability attributable to Victoria university (Singapore) pte ltd 1 8 - -

Income tax liability attributable to Victoria university enterprises ltd - 1 - -

total current tax liabilities 1 9 - -

17. cUrrent taX liaBilities

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 15. proVisions continued

consoliDateD anD parent Movement in non- Current provision, excluding employee benefits

consoliDateD anD UniversitY

leaseholD maKe GooD provision

total

$'000 $'000


opening balance - -

Additional provision recognised 14 14

closing balance 14 14

15. provisions (continUeD)

(B) movements

retaineD earninGs

opening balance 1 January 431,705 397,430 431,550 397,360


transfer from/(to) special purpose reserve 99 46 - -

Balance 31 December 18(a) 440,445 431,705 440,277 431,550

18. reserves anD retaineD earninGs


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

(a) composition

eQUitY at the enD of the Year comprises:

Retained earnings 18(b) 440,445 431,705 440,277 431,550

reserves

Asset revaluation reserve 18(b) 284,864 284,864 284,861 284,861

Foreign currency translation reserve 18(b) (26) (32) - -

Special purpose reserve 4,560 4,659 - -

289,399 289,491 284,861 284,861

total equity 729,844 721,196 725,138 716,411

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 18. reserVes And retAined eArnings

asset revalUation reserve

lanD

Balance 1 January 141,188 119,103 141,188 119,103

net movements due to revaluation - 22,085 - 22,085

Balance 31 December 141,188 141,188 141,188 141,188

BUilDinGs

Balance 1 January 143,360 143,360 143,360 143,360

net movements due to revaluation - - - -

Balance 31 December 143,360 143,360 143,360 143,360

artWorK

Balance 1 January 316 316 313 313

net movements due to revaluation - - - -

Balance 31 December 316 316 313 313

total asset revaluation reserve 18(a) 284,864 284,864 284,861 284,861

106 107

18. reserves anD retaineD earninGs (continUeD)

special pUrpose reserve

opening balance 1 January 4,659 4,705 - -

transfer from/(to) retained earnings (99) (46) - -

Balance 31 December 18(a) 4,560 4,659 - -

(c) natUre anD pUrpose of reserves

asset revaluation reservethe asset revaluation reserve is used to record increments and decrements on the revaluation of non current assets, as described in accounting policy note 1(j).

foreign currency translation reserveexchange differences arising on the translation of the foreign controlled entity, Victoria university of technology (Singapore) pte. ltd, are taken to the foreign currency translation reserve.

special purpose reservethe purpose of this reserve is to fund the philanthropic activity of Victoria university Foundation.

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 18. reserVes And retAined eArnings continued


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

foreiGn cUrrencY translation reserve

opening balance 1 January (32) (1) - -

Movement due to translation of foreign subsidiary financial statement 6 (31) - -

Balance 31 December 18(a) (26) (32) - -

(a) names of responsiBle persons anD eXecUtive officers

(i) names of responsiBle personsFor the purposes of the Financial Management Act 1994, the Minister for Higher education and Skills and members of the university Council are the responsible persons of the university. the name of the Minister who was the responsible person at anytime during the financial year was:

the Hon. peter Hall Mp

coUncil memBers DUrinG 2011 Were:professor n. Andrews (Chair) (Ceased 14 December 2011)Mr K. Baker (Ceased 8 April 2011)Mr C. Bonner Ms S. Cullen (Ceased 30 December 2011)Mr G. DaleDr J. Doughney Mr t. D'Souza (Ceased 25 July 2011)Mr G. Kuan (Commenced 6 october 2011)Commissioner D. Foggo (Deputy Chancellor) (Ceased 31 December 2011)Mr B. Foskett (Ceased 31 December 2011)Dr I. Gilmour (Ceased 31 December 2011)Dr R. Gould (Ceased 28 February 2011)Ms M. HansenMr l Burger (Commenced 1 January 2011. Ceased 7 June 2011)Ms A. HassettMr W. Kayler thomsonMr K. loughnan (Ceased 28 February 2011)Mr J. o'Rourke (Ceased 31 December 2011)professor p. Dawkins (Vice Chancellor) (Commenced 1 January 2011)Mr G. pappas (Chancellor)Ms p. Willsford Mr M. Zaar Ms V. Saint-James (Commenced 14 December 2011)

(ii) names of eXecUtive officersprofessor G.BaxterDr R. BrownMr G. Carter (Ceased 31 May 2011)Ms B. ClaytonMr D. Colliver professor p. CreamerMr G. DreherMs K. Fitzpatrick (Ceased 26 August 2011)Assoc. professor M. Hamel Greenprofessor p. Dawkins (Vice Chancellor)Mr J. HickmanMr A. Hollowayprofessor A.t. Jonesprofessor B. Kingprofessor D. lamondMs C. Morrisseyprofessor W. payneprofessor l. RosenmanDr S. Sternprofessor M. towstolessMs S. YoungMs n. VelardiMs R. CaseyMs J. VeroMs M. BurkeMs l. nilsenprof K. HughesMs t. RankovicMr l. D'lima (from 29 August 2011 to 7 october 2011)Mr p. lefebvre (commenced 10 october 2011)Mr D Bentley (commenced 1 December 2011)

All of the above persons were also key management persons during the year ended 31 December 2011.

19. KeY manaGement personnel DisclosUres

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 19. key mAnAgement personnel disclosures

108 109

19. KeY manaGement personnel DisclosUres (continUeD)

(B) remUneration of coUncil memBers anD eXecUtives

notes consoliDateD UniversitY

2011 2010 2011 2010

$'000 $'000 $'000 $'000

(i) remUneration of coUncil memBers

remunerationIncome paid or payable, or otherwise made available, to Council members (by entities in the consolidated entity and related parties) in connection with the management of affairs of the parent entity or its controlled entities: 166 187 162 183


2011 2010 2011 2010

remuneration Bands nUmBer nUmBer nUmBer nUmBer

nil to $9,999 28 27 19 18

$10,000 to $19,999 2 2 2 2

$40,000 to $49,999 1 1 1 1

number of executive officers who also act as Council members and their remuneration disclosed under remuneration of executive officers 5 5 1 1

36 35 23 22

Remuneration paid to Ministers is reported in the Annual Report of the Department of premier and Cabinet.

(ii) remUneration of eXecUtive officers


2011 2010 2011 2010

$'000 $'000 $'000 $'000

remuneration

Income paid or payable, or otherwise made available, to executive officers by entities in the consolidated entity and related parties: 19(c) 7,095 5,436 7,095 5,436

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 19. key mAnAgement personnel disclosures continued

total remUneration Base remUneration

consoliDateD UniversitY consoliDateD UniversitY

2011 2010 2011 2010 2011 2010 2011 2010

nUmBer nUmBer nUmBer nUmBer nUmBer nUmBer nUmBer nUmBer$110,000 to $119,999 - 1 - 1 - 1 - 1

$120,000 to $129,999 1 - 1 - 3 1 3 1

$130,000 to $139,999 - 1 - 1 - - -

$140,000 to $149,999 1 - 1 - - - - -

$150,000 to $159,999 - 1 - 1 - 1 - 1

$160,000 to $169,999 1 - 1 - 1 - 1 -

$170,000 to $179,999 1 1 1 1 1 1 1 1

$180,000 to $189,999 1 - 1 - 3 - 3 -

$190,000 to $199,999 2 2 2 2 2 3 2 3

$200,000 to $209,999 2 2 2 2 2 4 2 4

$210,000 to $219,999 1 3 1 3 3 3 3 3

$220,000 to $229,999 2 3 2 3 1 2 1 2

$230,000 to $239,999 2 1 2 1 2 - 2 -

$240,000 to $249,999 3 1 3 1 2 - 2 -

$250,000 to $259,999 2 - 2 - - - - -

$260,000 to $269,999 1 - 1 - 3 - 3 -

$270,000 to $279,999 - - 2 - 2 - 2 -

$280,000 to $289,999 1 - 1 - 2 - 2 -

$290,000 to $299,999 2 - 2 - - - - -

$300,000 to $309,999 - 1 - 1 - 1 - 1

$310,000 to $319,999 2 1 2 1 1 1 1 1

$350,000 to $359,999 1 - 1 - 1 - 1 -

$360,000 to $369,999 - 1 - 1 - 1 - 1

$410,000 to $419,999 1 - 1 - - - - -

$460,000 to $469,999 1 - 1 - 1 - 1 -

$580,000 to $589,999 - - - - - 1 - 1

$640,000 to $649,999 - 1 - 1 - - - -

28 22 28 22 28 22 28 22

note:executive officers include the principal officers and the directors who report to them.executives with total remuneration lower than $100,000 (2011: 3 executives and 2010: 2 executives) are not disclosed in the above remuneration bands however the remuneration paid is disclosed under remuneration.


(B) remUneration of coUncil memBers anD eXecUtives continued


110 111

(c) KeY manaGement personnel compensation

the totals of remuneration paid to key management personnel of the Group and university during the year are as follows:


2011 2010 2011 2010

notes $'000 $'000 $'000 $'000

Short term employee benefits 5,589 4,521 5,589 4,521

post employment benefits 821 636 821 636

termination benefits 262 16 262 16

performance based payments 423 263 423 263

total 19(b) 7,095 5,436 7,095 5,436

(D) loans to KeY manaGement personnelthere were no loans in existence by the university to responsible persons or related parties at the date of this report. there were no interests in the shares of related entities held by responsible persons of the university as at the reporting date. there were no other transactions between the university and responsible persons or their related parties during the financial year.

Remuneration includes salary, superannuation, retirement benefits and other salary related benefits including fringe benefits and associated tax.

(e) other transactions With KeY manaGement personnelother related transactions requiring disclosure have been considered, refer to note 23(b).

During the year, the following fees were paid for services provided by the auditor of the parent entity, its related practices and non-related audit firms:

assUrance services consoliDateD UniversitY

2011 2010 2011 2010

$'000 $'000 $'000 $'000

(1) aUDit services

Fees paid to Victorian Auditor-General's office for audit and review of financial statements and other audit work under the Corporations Act 2001 and Financial Management Act 1994.

160 155 149 141

Fees paid to Deloitte and touche (Singapore) for audit of a subsidiary entity in the consolidated entity

14 14 - -

total remuneration for audit services 174 169 149 141

(2) non-aUDit services

audit related services

Fees paid for Internal Audit Services 302 139 302 139

total remuneration for audit related services 302 139 302 139

taxation services

Fees paid to Deloitte and touche (Singapore) for tax compliance services 4 3 - -

total remuneration for taxation services 4 3 - -

other services

Fees paid to other audit firms for:

– other services 31 172 31 172

total remuneration for other audit services 31 172 31 172

20. remUneration of aUDitors



21. continGencies

continGent liaBilities

(a) GUarantees consoliDateD UniversitY

2011 2010 2011 2010

$'000 $'000 $'000 $'000

Guarantees 479 - 479 -

total Guarantees 479 - 479 -

(B) litiGationthere are no current outstanding claims for which have the potential to impact adversely on the business of Victoria university or its subsidiaries.

continGent assetsthere are no contingent assets (2010: nil)

22. commitments

(a) lease commitments

(i) operatinG leases – as lesseeCommitments in relation to leases contracted for at the reporting date but not recognised as liabilities payable:

property leases 21,185 13,975 21,185 13,975

plant & equipment leases 5,034 4,507 5,034 4,507

26,219 18,482 26,219 18,482

Due within one year 5,317 3,656 5,317 3,656

Due after one year, but within five years 9,258 4,555 9,258 4,555

later than five years 11,644 10,271 11,644 10,271

26,219 18,482 26,219 18,482

GSt reclaimable on the above 2,384 1,680 2,384 1,680

net commitments 23,835 16,802 23,835 16,802

(ii) operatinG leases – as lessor

Commitments in relation to leases contracted for at the reporting date but not recognised as assets:



later than five years 3,508 3,991 3,508 3,991

8,424 8,882 8,424 8,882

GSt payable on the above 766 807 766 807

net lease income 7,658 8,075 7,658 8,075


2011 2010 2011 2010

$'000 $'000 $'000 $'000

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 21. contingencies

the guarantees cover a new lease of office premises for 10 years and a lease for space for microwave towers.

112 113

22. commitments (continUeD)

(B) capital commitments

Capital expenditure contracted for at the reporting date but not recognised as liabilities are:

Buildings and It Infrastructure Major Works 38,048 17,981 38,048 17,981

38,048 17,981 38,048 17,981

net commitments are payable as follows:


Due after one year, but within five years - - - -

later than five years - - - -

38,048 17,981 38,048 17,981

GSt reclaimable on the above 3,459 1,635 3,459 1,635

net commitments 34,589 16,346 34,589 16,346


2011 2010 2011 2010

$'000 $'000 $'000 $'000

(c) other eXpenDitUre commitmentsCommitments in existence at the reporting date but not recognised as liabilities payable:

Vu's share of contribution towards teaching, training and Research facility at the Sunshine Hospital Campus at St. Albans

- 452 - 452

VeRnet pty ltd – operating subscriptions 434 462 434 462

other 4,657 2,568 4,657 2,568

5,091 3,482 5,091 3,482

net commitments are payable as follows:


Due after one year, but within five years 2,199 - 2,199 -


5,091 3,482 5,091 3,482

GSt reclaimable on the above 463 317 463 317

net commitments 4,628 3,165 4,628 3,165

(D) remUneration commitmentsCommitments for remuneration in existence at the reporting date but not recognised as liabilities payable:

Due within one year 1,577 468 1,577 468



5,495 2,340 5,495 2,340

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 22. commitments continued

(a) sUBsiDiariesInterests in subsidiaries are set out in note 24.

(B) KeY manaGement personnelthe terms and conditions of the transactions with responsible persons and their related entities were no more favourable than those available, or which might reasonably be expected to be available, on similar transactions to non-related parties on an arm's length basis.

the aggregate amounts recognised during the year relating to responsible persons and their related parties were as follows:

2011 2010

$'000 $'000

Mr B Foskett – Council Member (Vice president, Australia China Business Council) 8 -

Mr George pappas – Chancellor (Director, Western Bulldogs Football Club) 905 160 Disclosures relating to responsible officers and specified executives are set out in note 19.

UniversitY

2011 2010

$'000 $'000(c) transactions With relateD parties

the following transactions occurred with related parties:

training fee income from Victoria university of technology (Singapore) pte ltd 392 497

Donations paid to Victoria university Foundation 203 4

Donations received from Victoria university Foundation 630 253

Audit fees paid on behalf of Victoria university International pty ltd 3 2

Audit fees paid on behalf of Victoria university enterprises pty ltd 3 2

(D) oUtstanDinG Balances

the following balances are outstanding at the reporting date in relation to transactions with related parties:

Amount receivable from Victoria university Foundation - 375

Amount payable to Victoria university Foundation 19 -

Amount receivable from Victoria university of technology (Singapore) pte ltd 158 634

no provision for impairment has been raised in relation to any outstanding receivable balances, and no expense has been recognised in respect of impaired receivables due from related parties.

(e) terms anD conDitions

transactions are at armslength and undertaken on a commercial basis during the course of normal trading.

23. relateD parties

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 23. relAted pArties

114 115

the consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1(b):

eQUitY holDinG

2011 2010

name of entitY coUntrY of incorporation

class of shares % %

Victoria university Foundation ltd (ACn 007 151 895) Australia - 100 100

Victoria university Foundation* Australia - 100 100

Victoria university enterprises pty ltd (ACn 007 382 818) Australia ordinary 100 100

Victoria university of technology (Singapore) pte ltd Singapore ordinary 100 100

Victoria university International pty ltd (ACn 079 529 089) Australia ordinary 100 100

25. events occUrrinG after the enD of the reportinG perioD In october 2011 a property was listed for sale and reclassified as a non-current asset held for sale. prior to the sale of the non-current asset held for sale, the fair value of the non-current asset held for sale was determined to be higher than the carrying value, and it was remeasured to reflect the difference. the contract to sell the property was signed in november 2011, with settlement occurring in January 2012.

no other matters or circumstances have arisen since the end of the reporting period which significantly affected or may affect the operations of the entity, the results of those operations, or the state of affairs of the entity in future financial years.

24. sUBsiDiaries


notes 2011 2010 2011 2010

$'000 $'000 $'000 $'000

reconciliation of net cash from operating activities to net operating result


Add non-cash items:

Depreciation and amortisation 4(b) 23,752 19,662 23,752 19,662

net loss/(gain) on sale of non-current assets 3(f), 4(e) 348 (2,043) 348 (2,043)

Fair value movement of non-current assets held for sale** 3(f) (8,084) - (8,084) -

Impairment of receivables 4(d) (42) - (128) -

Changes in operating assets and liabilities:

Increase/(decrease) in provisions for employee benefits 5,537 6,232 5,537 6,232

Increase/(decrease) in trade and other payables (5,267) 13,729 (5,077) 13,492

Increase/(decrease) in Revenue in advance (872) (764) (872) (764)

(Increase)/decrease in Receivables 15,907 (11,901) 16,129 (11,727)

(Increase)/decrease in other non-financial Assets (268) (827) (268) (827)

(Increase)/decrease in Inventories (244) 381 (244) 381

net cash provided by operating activities 39,408 58,698 39,820 58,596

26. reconciliation of operatinG resUlt after income taX to net cash floWs from operatinG activities

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 24. subsidiAries

* Victoria university Foundation ltd, a company limited by guarantee, acts as trustee of the Victoria university Foundation**prior to the sale of a non-current asset held for sale, the fair value of the non-current asset held for sale was determined to be higher than the carrying value, and it was remeasured to reflect the difference.

the Group's financial instruments consist mainly of deposits with banks, short term investments and accounts receivables and payables.

the main risks the university is exposed to through its financial instruments are market risk (including currency risk, price risk, fair value interest rate risk and cash flow interest rate risk), credit risk and liquidity risk.

the Group's overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. the Group uses different methods to measure different types of risk to which it is exposed. these methods include sensitivity analysis in the case of interest rate, foreign exchange and other price risks and ageing analysis for credit risk. Risk management is carried out by the finance department under policies approved by the Council.

(a) marKet risKMarket risk is the risk that the value of financial instruments fluctuate due to changes in foreign exchange rates, changes in market interest rates, and changes in market prices.

the university and its subsidiaries in their daily operations are exposed to a number of market risks. Market risks relate to the risk that market rates and prices will change and that this will have an adverse affect on the operating result and/or net assets of the Group. e.g. an adverse movement in interest rates or foreign currency exchange rates.

the Council ensures that all market risk exposure is consistent with the business strategy and within the risk tolerance of the university. Regular risk reports are presented to the Council.

there has been no significant change in the Group's exposure, or its objectives, policies and processes for managing market risk or the methods used to measure this risk from the previous reporting period.

(i) foreiGn eXchanGe risK

the Group is exposed to fluctuations in foreign currencies arising from the delivery of services in currencies other than Australian dollars. this risk is mitigated by majority of the trade receivables being invoiced in Australian dollars.

In addition foreign currency bank accounts are maintained to mitigate any foreign currency risk exposure.

(ii) price risK

the Group is exposed to price risk in respect of fee for service and contract services which are subject to open market competition.

the Group is also exposed to equity price risk. this arises from investments held at fair value through profit or loss. the price risk for the unlisted securities is immaterial in terms of possible impact on profit or loss or total equity. It is therefore, not included in the sensitivity analysis.

(iii) cash floW anD fair valUe interest rate risK

the Group's exposure to interest rate risk is the risk that a financial instrument's value will fluctuate as a result of changes in market interest rates.

the Group is exposed to interest rate risk associated with cash management activities whereby excess funds are placed with financial institutions and are subjected to changes in the basis of prime interest rate. Management believes that the interest rate risk is manageable and hence, the Group does not use derivative financial instruments to mitigate this.

(iv) sUmmariseD sensitivitY analYsis

the following table summarises the sensitivity of the Group's financial assets and financial liabilities to interest rate risk, foreign exchange risk and other price risk.

27. financial risK manaGement

31 DecemBer 2011 carrYinG amoUnt

interest rate risK -1% +1%

foreiGn eXchanGe risK -5% +5%

other price risK* -5% +5%

$'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

financial assetsCash and Cash equivalents - at bank 6,250 (63) (63) 63 63 - - - - - - - -

Cash and Cash equivalents - Deposits at call 3,800 (38) (38) 38 38 - - - - - - - -

Cash and Cash equivalents - Deposits - other 5,000 (50) (50) 50 50 - - - - - - - -

Receivables - Debtors 24,531 - - - - (10) (10) 10 10 - - - -

Financial assets - Available for sale 19,150 (192) (192) 192 192 - - - - - - - -

other financial assets - unlisted shares 1,717 - - - - - - - - - - -

financial liabilities

trade and other payables 27,813 - - - - (1) (1) 1 1 - - - -

total increase/(decrease) (343) (343) 343 343 (11) (11) 11 11 - - - -

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 27. finAnciAl risk mAnAgement

* there is no 'other price risk' as Victoria university no longer has any material financial assets held at fair value through profit or loss.

116 117

(B) creDit risKthe Group's maximum exposure to credit risk at balance date in relation to each class of recognised financial asset is the carrying amount of those assets as indicated in the statement of financial position.

the Group minimises concentrations of credit risk in relation to trade accounts receivable by undertaking transactions with a large number of customers within the specified industries, and the majority of customers are concentrated in Australia. these are in relation to consultancy and fee for service activities.

Credit risk in trade receivables is managed in the following ways:

– payment terms are 30 days;

– debt collection policies and procedures including use of a debt collection agency.

the credit risk on liquid funds is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies.

no other financial assets carry a significant exposure to credit risk.

(c) liQUiDitY risKliquidity risk is the risk that the Group will encounter in realising assets or otherwise raising funds to meet commitments. this risk is minimised as cash and cash equivalent assets are held in highly liquid cash holdings, and the monitoring of cash flows ensures that maximum funds are available for investment.

the following tables summarise the maturity of the Group's financial assets and financial liabilities:

27. financial risK manaGement (continUeD)

31 DecemBer 2011 averaGe interest

rate

variaBle interest rate

less than 1 Year

1 to 5 Years

5+ Years

non-interest BearinG

total

$'000 $'000 $'000 $'000 $'000 $'000 $'000

financial assets

Cash and Cash equivalents - at bank 2.00% 6,250 - - - - 6,250

Cash and Cash equivalents - deposits at call 4.15% 3,800 - - - - 3,800

Cash and Cash equivalents - deposits - other 5.95% 5,000 - - - - 5,000

Receivables n/a - - - 24,531 24,531

Financial Assets - Available-for-sale 5.98% - 19,150 - - - 19,150

Financial Assets - Fair Value through profit and loss n/a - - - - -

other Financial Assets - unlisted shares n/a - - 1,717 1,717

total financial assets 15,050 19,150 - - 26,248 60,448


payables n/a - - - 27,761 27,761

other liabilities n/a - - - - 52 52

total financial liabilities - - - - 27,813 27,813

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 27. finAnciAl risk mAnAgement continued

31 DecemBer 2010 carrYinG amoUnt

interest rate risK -1% +1%

foreiGn eXchanGe risK -5% +5%

other price risK* -5% +5%

$'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

resUlt $'000

eQUitY $'000

financial assetsCash and Cash equivalents - at bank 6,115 (61) (61) 61 61 - - - - - - - -

Cash and Cash equivalents - Deposits at call 16,035 (160) (160) 160 160 - - - - - - - -

Cash and Cash equivalents - Deposits - other 30,600 (306) (306) 306 306 - - - - - - - -

Receivables - Debtors 40,457 - - - - (39) (39) 39 39 - - - -

Financial assets - Available for sale 4,326 (43) (43) 43 43 - - - - - - - -

other financial assets - unlisted shares 1,717 - - - - - - - - - - -

other financial assets - investments 7,789


trade and other payables 33,140 - - - - (1) (1) 1 1 - - - -

total increase/(decrease) (570) (570) 570 570 (40) (40) 40 40 - - - -

31 DecemBer 2010 averaGe interest rate

variaBle interest rate

less than 1 Year

1 to 5 Years

5+ Years

non- interest BearinG

total

$'000 $'000 $'000 $'000 $'000 $'000

financial assets

Cash and Cash equivalents - at bank 2.52% 6,115 - - - - 6,115Cash and Cash equivalents - deposits at call 4.65% 16,035 - - - - 16,035Cash and Cash equivalents - deposits - other 5.94% 30,600 - - - - 30,600Receivables n/a - - - - 41,539 41,539Financial Assets - Available for sale 5.91% - 4,326 - - - 4,326Financial Assets - Fair Value through profit and loss n/a - - - - - -other Financial Assets - unlisted shares n/a - - - - 1,717 1,717other Financial Assets - investments n/a - - - - 7,789 7,789total Financial Assets 52,750 4,326 - - 51,045 108,121


payables n/a - - - - 33,076 33,076other liabilities n/a - - - - 64 64total financial liabilities - - - 33,140 33,140


(c) liQUiDitY risK continued

(D) fair valUe of financial assets anD liaBilities

the group's aggregate net fair values of financial assets and financial liabilities, both recognised and unrecognised, at the balance date, are as follows:

total carrYinG amoUnt as per the statement of financial position

aGGreGate net fair valUe

2011 2010 2011 2010

$'000 $'000 $'000 $'000 financial assets

Cash and Cash equivalents - at bank 6,250 6,115 6,250 6,115Cash and Cash equivalents - Deposits at call 3,800 16,035 3,800 16,035Cash and Cash equivalents - Deposits - other 5,000 30,600 5,000 30,600Receivables - Debtors 24,531 41,539 24,531 41,539Financial assets - Available for sale 19,150 4,326 19,150 4,326other financial assets - unlisted shares 1,717 1,717 1,717 1,717other financial assets - investments - 7,789 - 7,789total Financial Assets 60,448 108,121 60,448 108,121


payables 27,761 33,076 27,761 33,076other liabilities 52 64 52 64total financial liabilities 27,813 33,140 27,813 33,140 the following methods and assumptions are used to determine the net fair values of financial assets and liabilities:

recoGniseD financial instrUmentsCash at Bank, Deposits at call, Deposits - other, Receivables, Creditors these financial instruments have a short term to maturity. Accordingly, it is considered that their carrying amounts reflect fair values.

listed Shares the fair value of the listed shares is based on the quoted market price, which is the bid price as at the reporting date.

unlisted Shares these are shares held in small private entities. Since there is no active market for these shares, their fair values cannot be reliably measured, hence they are carried at nominal cost.


118 119

(D) fair valUe of financial assets anD liaBilities continUeD fair valUe hierarchYthe table below analyses financial instruments carried at fair value, by valuation method. the different levels have been defined as follows:

level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities level 2 - inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) level 3 - inputs for the asset or liability that are not based on observable market data (unobservable inputs)

31 DecemBer 2010

financial assets

Financial Assets - Available for sale 4,326 4,326 - -

total 4,326 4,326 - -

Refer to note 1(w) for the accounting policy of fair value estimation.


31 DecemBer 2011 total level 1 level 2 level 3

$'000 $'000 $'000 $'000

financial assets

Financial Assets - Available for sale 19,150 19,150 - -

total 19,150 19,150 - -

the university contributes to the following superannuation schemes on behalf of its employees:

UnisUperuniSuper is a multi employer superannuation fund operated by uniSuper limited as the Corporate trustee and administered by uniSuper Management pty ltd, a wholly owned subsidiary of uniSuper limited. the operations of uniSuper are regulated by the Superannuation Industry (Supervision) Act 1993.

(i) uniSuper offers eligible members the choice of two schemes known as the Defined Benefit Division (DBD) (previously referred to as Defined Benefit plan) or Accumulation Super (2) (previously referred to as Investment Choice plan). the contribution rate to the schemes is 21% of member’s salary of which the member contributes 7% and the university 14%. From 1 July 2006, members can elect to reduce the level of member contributions with corresponding reductions in benefits.

In 2005, uniSuper advised that the Defined Benefit plan should be disclosed under the multi employer provisions of AASB 119 employee Benefits which allowed for defined benefit obligations to be reported on a defined contribution basis with some additional information. AASB 119 employee Benefits states that this is an appropriate solution for a Defined Benefit plan where the employer does not have access to the information required and there is no reliable basis for allocating the benefits, liabilities, assets and costs between employers.

As a consequence of changes to the uniSuper trust Deed in December 2006, uniSuper have advised that the foregoing no longer applies and that both the Defined Benefit Division and Accumulation Super (2) plans are defined as Multi employer Defined Contribution Schemes in accordance with AASB 119 employee Benefits.

(ii) uniSuper also offers a cash accumulation productivity scheme known as Accumulation Super (1) (previously referred to as the Award plus plan (App)). university employees have no requirement to contribute to the scheme. the university contributes the equivalent of 3% of base salary in respect of these employees who were members of the Defined Benefit Division or the Accumulation Super (2) plan. employees who do not qualify for membership of Defined Benefit Division and Accumulation Super (2) will have a minimum contribution 9% of their annual salary contributed by the university to Accumulation Super (1) prescribed under the Superannuation Guarantee Charge Act 1992.

Casual and non-permanent employees who do not qualify for membership of the Defined Benefit Division and Accumulation (2) are eligible for Accumulation Super (1).

As at 30 June 2011 the assets of the DBD in aggregate were estimated to be $907 million in deficiency (30 June 2010: $1,217 million in deficiency) of vested benefits. the vested benefits are benefits which are not conditional upon continued membership (or any factor other than leaving the service of the participating institution) and include the value of CpI indexed pensions being provided by the DBD.

As at 30 June 2011 the assets of the DBD in aggregate were estimated to be $427 million in excess (30 June 2010: $312 million in excess) of accrued benefits. the accrued benefits have been calculated as the present value of expected future benefit payments to members and CpI indexed pensioners which arise from membership of uniSuper up to the reporting date.

state sUperannUation schemesthe university has a number of employees who are members of State Superannuation Schemes administered by the Government Superannuation office. these are defined benefits schemes.

existing arrangements provide for the Commonwealth to reimburse the university on an emerging cost basis for payments made to employees of the unfunded scheme. the superannuation liability, as assessed by the Superannuation Board, for future benefits for current employees and pensions was as at 30 June 2011 $151.83 million (2010: $150.13 million).

Any unfunded liability in respect of tAFe employees who are members of the State Superannuation Schemes controlled by the Victorian Superannuation Board will be recognised by the State Government in its Statement of Financial position.

A small number of university staff are also members of VicSuper, Health Super and other miscellaneous funds.

28. sUperannUation commitments

consoliDateD2011 2010

$'000 $'000

sUmmarY of sUperannUation scheme paYments:

uniSuper 26,231 23,649

State Superannuation Schemes 7,862 7,438

others 3,742 3,644

37,835 34,731


(a) DeeWr-cGs anD other DeeWr Grants

parent entitY (UniversitY) onlY

notes commonWealth Grants scheme #1

inDiGenoUs sUpport fUnD

partnership & participation

proGram #2

DisaBilitYsUpport

proGram

WorKplace reform

proGram

WorKplace proDUctivitY

proGram

2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Financial assistance received in CASH during the reporting period (total cash received from Australian Government for the programs) 107,969 105,623 202 173 3,364 1,861 58 94 - - - 1,572

net accrual adjustments - (3,459) - 13 - - - - - - - -

Revenue for the period 3(a)(A) 107,969 102,164 202 186 3,364 1,861 58 94 - - - 1,572

Surplus/(Deficit) from previous year - - 62 (1) 443 478 215 274 - - 675 (444)

total revenue including accrued revenue 107,969 102,164 264 185 3,807 2,339 273 368 - - 675 1,128

less expenses including accrued expenses (107,969) (102,164) (207) (123) (3,780) (1,896) (138) (153) - - (675) (453)surplus/(Deficit) for the reporting period - - 57 62 27 443 135 215 - - - 675

29. acQUittal of aUstralian Government financial assistance


notes learninG anD teachinG performance

fUnD

capital Development

pool

DiversitY anD strUctUral aDJUstment

fUnD #3

improvinG practical comp

of teacher eDUcation

transitional cost proGram

total

2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Financial assistance received in CASH during the reporting period (total cash received from Australian Government for the programs)

- - - 4,170 52 - - - 166 238 111,811 113,731

net accrual adjustments - - - (1,043) - - - - - - - (4,489)

Revenue for the period 3(a)(A) - - - 3,127 52 - - - 166 238 111,811 109,242

Surplus/(Deficit) from previous year 2,481 2,878 - 2,841 388 466 - - - - 4,264 6,492

total revenue including accrued revenue 2,481 2,878 - 5,968 440 466 - - 166 238 116,075 115,734

less expenses including accrued expenses (2,481) (397) - (5,968) (117) (78) - - (166) (238) (115,533) (111,470)

surplus/(Deficit) for the reporting period - 2,481 - - 323 388 - - - - 542 4,264

#1 Includes the basic CGS grant amount, CGS enabling loading and Maths and Science transition loading, CGS Facilitation Funding and Full Fee places transition loading#2 Includes equity Support program#3 Includes Collaboration and Structural Adjustments program

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 29. AcquittAl of AustrAliAn goVernment finAnciAl AssistAnce continue

120 121

Victoria University ABN: 83776954731

Notes to the Financial Statements

For the Year Ended 31 December 2011

18 KEY MANAGEMENT PERSONNEL DISCLOSURES (continued)

(a) Names of Responsible Persons and Executive Officers (continued)

60

(ii) Names of Executive Officers Professor G.Baxter Dr R. Brown Mr G. Carter (until 31 May 2011) Ms B. Clayton Mr D. Colliver Professor P. Creamer Mr G. Dreher Ms K. Fitzpatrick (Ceased 26 August 2011) Assoc. Professor M. Hamel-Green Professor P. Dawkins (Vice Chancellor) Mr J. Hickman Mr A. Holloway Professor A.T. Jones Professor B. King Professor D. Lamond Ms C. Morrissey Professor W. Payne Professor L. Rosenman Dr S. Stern Professor M. Towstoless Ms S. Young Ms N. Velardi Ms R. Casey Ms J. Vero Ms M. Burke Ms L. Nilsen Prof K. Hughes Ms T. Rankovic Mr L. D'lima (from 29 August 2011 to 7 October 2011) Mr P. Lefebvre (commenced 10 October 2011) Mr D Bentley (commenced 1 December 2011)

All of the above persons were also key management persons during the year ended 31 December 2011.

(B) hiGher eDUcation loan proGrammes (eXclUDes os-help)

29. acQUittal of aUstralian Government financial assistance (continUeD)

#4 program is in respect of Fee-Help for Higher education only and excludes funds received in respect of Vet Fee-Help#5 Includes national priority, national Accommodation priority, ICAS & ICeCS Scholarships respectively.

(c) scholarships


aUstralian postGraDUate

aWarDs

international postGraDUate

research scholarships

commonWealth eDUcation cost

scholarships #5

commonWealth accommoDation scholarships #5

inDiGenoUs access

scholarship total

2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010notes $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000


1,637 1,266 158 169 1,264 1,632 18 11 9 21 3,086 3,099

net Accrual adjustments - - - - - (361) - - - - - (361)Revenue for the period 3(a)(C) 1,637 1,266 158 169 1,264 1,271 18 11 9 21 3,086 2,738

Surplus/(Deficit) from previous year 114 74 26 (32) - 88 - 36 - - 140 166total revenue including accrued revenue 1,751 1,340 184 137 1,264 1,359 18 47 9 21 3,226 2,904less expenses including accrued expenses (1,731) (1,226) (139) (111) (665) (1,359) (18) (47) (9) (21) (2,562) (2,764)

surplus/(Deficit) for the reporting period 20 114 45 26 599 - - - - - 664 140

notes to the finAnciAl stAtements for the yeAr ended 31 december 2011 – 29. AcquittAl of AustrAliAn goVernment finAnciAl AssistAnce continued


notes

hecs-help (aUst.

Government paYments

onlY)

fee-help #4 vet fee-help total

2011 2010 2011 2010 2011 2010 2011 2010 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000


63,398 76,009 6,117 7,198 2,318 2,256 71,833 85,463

net Accrual adjustments 4,067 (8,521) 62 (1,457) 49 610 4,178 (9,368)

Revenue for the period 3(a)(B) 67,465 67,488 6,179 5,741 2,367 2,866 76,011 76,095

Surplus/(Deficit) from previous year - - - - - - - -

total revenue including accrued revenue 67,465 67,488 6,179 5,741 2,367 2,866 76,011 76,095

less expenses including accrued expenses (67,465) (67,488) (6,179) (5,741) (2,367) (2,866) (76,011) (76,095)

surplus/(Deficit) for the reporting period - - - - - - - -

(D) Diisr research


Joint research enGaGement proGram #6

research traininG scheme

research infrastrUctUre BlocK Grants

implementation assistance

proGramme

aUstralian scheme for

hiGher eDUcation

repositories

commercial-isation

traininG scheme

2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010notes $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000


2,355 2,146 4,767 4,767 222 190 - 46 - - 65 47

net Accrual adjustments - - - - - - - - - - - -

Revenue for the period 3(a)(D) 2,355 2,146 4,767 4,767 222 190 - 46 - - 65 47

Surplus/(Deficit) from previous year 320 - - - (31) 174 - - 207 281 79 126

total revenue including accrued revenue 2,675 2,146 4,767 4,767 191 364 - 46 207 281 144 173

less expenses including accrued expenses (2,137) (1,826) (4,767) (4,767) (191) (395) - (46) (207) (74) (40) (94)

surplus/(Deficit) for the reporting period 538 320 - - - (31) - - - 207 104 79


sUstainaBle research

eXcellence in Universities

total

notes 2011 2010 2011 2010

$’000 $’000 $’000 $’000

Financial assistance received in CASH during the reporting period (total cash received from Australian Government for the programs) 251 329 7,660 7,525

net Accrual adjustments - - - -

Revenue for the period 3(a)(D) 251 329 7,660 7,525

Surplus/(Deficit) from previous year 232 - 807 581

total revenue including accrued revenue 483 329 8,467 8,106

less expenses including accrued expenses (218) (97) (7,560) (7,299)

surplus/(Deficit) for the reporting period 265 232 907 807

#6 Includes Institutional Grants Scheme

(e) volUntarY stUDent Unionismparent entitY (UniversitY) onlY

vsU transition fUnD total

notes 2011 2010 2011 2010$’000 $’000 $’000 $’000


- - - -

net Accrual adjustments - - - -

Revenue for the period - - - -

Surplus/(Deficit) from previous year 2,071 2,389 2,071 2,389

total revenue including accrued revenue 2,071 2,389 2,071 2,389

less expenses including accrued expenses (2,071) (318) (2,071) (318)

surplus/(Deficit) for the reporting period - 2,071 - 2,071


122 123

(f) other capital fUnDinG


Better Universities

reneWal fUnDinG

teachinG anD learninG

capital fUnD

eDUcation investment

fUnD

total

2011 2010 2011 2010 2011 2010 2011 2010notes $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000


- - - - - - - -

net Accrual adjustments - - - - 14,000 5,757 14,000 5,757

Revenue for the period 3(a)(e) - - - - 14,000 5,757 14,000 5,757

Surplus/(Deficit) from previous year - 4,495 5,062 10,080 4,667 - 9,729 14,575

total revenue including accrued revenue - 4,495 5,062 10,080 18,667 5,757 23,729 20,332

less expenses including accrued expenses - (4,495) (5,062) (5,018) (9,882) (1,090) (14,944) (10,603)

surplus/(Deficit) for the reporting period - - - 5,062 8,785 4,667 8,785 9,729


(G) aUstralian research coUncil Grantsparent entitY (UniversitY) onlY

proJects total

2011 2010 2011 2010notes $’000 $’000 $’000 $’000

(i) Discovery Financial assistance received in CASH during the reporting period (total cash received from Australian Government for the programs)

160 103 160 103

net Accrual adjustments - 20 - 20

Revenue for the period 3(a)(F) 160 123 160 123

Surplus/(Deficit) from previous year 523 730 523 730

total revenue including accrued revenue 683 853 683 853

less expenses including accrued expenses (220) (330) (220) (330)

surplus/(Deficit) for the reporting period 463 523 463 523


special research initatives

linKaGe (spirit) proJects

total

2011 2010 2011 2010

notes $’000 $’000 $’000 $’000

(ii) linkages Financial assistance received in CASH during the reporting period (total cash received from Australian Government for the programs)

- - 943 919 943 919

net Accrual adjustments - - 60 77 60 77

Revenue for the period 3(a)(F) - - 1,003 996 1,003 996

Surplus/(Deficit) from previous year - - 595 620 595 620

total revenue including accrued revenue - - 1,598 1,616 1,598 1,616

less expenses including accrued expenses - - (676) (1,021) (676) (1,021)

surplus/(Deficit) for the reporting period - - 922 595 922 595


(h) os-helpparent entitY

(UniversitY) onlY

os-help

2011 2010

notes $’000 $’000

Cash received during the reporting period 1,848 442

Cash spent during the reporting period (1,250) (1,040)

net cash received 3(a)(H) 598 (598)

Cash surplus/(deficit) from the previous period (798) (200)

surplus/(Deficit) for the reporting period 7 (200) (798)


(i) sUperannUation sUpplementationparent entitY

(UniversitY) onlY

sUperannUation proGramme

2011 2010

notes $’000 $’000

Cash received during the reporting period 3(a)(H) 7,318 5,848

university contribution in respect of current employees - -

Cash available 7,318 5,848

Cash surplus/(deficit) from the previous period (3,435) (1,845)

Cash available for current period 3,883 4,003

Contributions to specified defined benefit funds 28 (7,862) (7,438)

cash surplus/(deficit) for this period (3,979) (3,435)


124 125

the AnnuAl report of VictoriA uniVersity is prepAred in AcordAnce with

FMA Financial Management Act 1994 etRA 2006 education and training Reform Act 2006

FRD A-IFRS Financial Reporting Directions pAeC Decision of public Accounts and estimates Committee of parliament

SD Standing Directions of the Minister for Finance issued RuG Victorian Government response to the Review of university Governance under the Financial Management Act 1994

AAS Australian Accounting Standards eSoS Education Services for Overseas Students Act 2000

AASB Australian Accounting Standards Board DeeWR Department of education, employment and Workplace Relations

this index wAs prepAred to fAcilitAte identificAtion of compliAnce with stAtutory disclosure requirements

stAnding directions of the minister for finAnce (sd)

Clause Disclosure page(s)

SD 4.2(g) Report of operations contains general information about the entity and its activities, highlights for reporting period and future initiatives and is prepared on a basis consistent with financial statements pursuant to the Financial Management Act, 1994. 6–7

SD 4.2(h) Report of operations is prepared in accordance with Financial Reporting Directions 59, 70–71

SD 4.2(j) Report of operations is signed and dated by Chancellor or equivalent and includes date of Council meeting at which Annual Report was approved 5, 70–71

SD 4.2(a) Financial Statements are prepared in accordance with: •AustralianAccountingStandards(AASandAASB)andothermandatory

professional reporting requirements

•FinancialReportingDirections

•BusinessRules 68, 69, 77

SD 4.2(b) Financial Statements available, including: •BalanceSheet

•StatementofRecognisedIncomeandExpense

•CashFlowsStatement

•NotestotheFinancialStatements 72–123

SD 4.2(c) Signed and dated statement by Accountable officer stating that Financial Statements: •Presentfairlythefinancialtransactionsduringreportingperiod

and the financial position at end of the period

•WerepreparedinaccordancewithStandingDirection4.2(c) and applicable Financial Reporting Directions

•ComplywithapplicableAustralianAccountingStandards(AASand AASB) and other mandatory professional reporting requirements 68

SD 4.2(d) Financial Statements are expressed in the nearest dollar except where the total assets, or revenue, or expenses of the institution are greater than:

•$10,000,000,theamountsshownintheFinancialStatements may be expressed by reference to the nearest $1,000

•$1,000,000,000,theamountsshownintheFinancialStatements may be expressed by reference to the nearest $100,000 80

SD 4.2(e) the Financial Statements were reviewed and recommended by the Audit Committee or Responsible Body prior to finalisation and submission 5, 70–71

SD 4.5.5 Attestation on compliance with the Australian / new Zealand Risk Management Standard 46

compliance inDeX of DisclosUre reQUirements 2011

A-ifrs finAnciAl reporting directions (frd)


10 Disclosure Index 124–125

11 Disclosure of ex-gratia payments n/A

07A early Adoption of Authoritative Accounting pronouncements 82–84

17A long-Service leave Wage Inflation and Discount Rates 81

19 private provision of public Infrastructure n/A

21A Responsible person and executive officer Disclosure in the Financial Report 107–110

22B Standard Disclosures in the Report of operations 70–71

25 Victorian Industry participation policy in the Report of operations n/A

26A Accounting for VicFleet Motor Vehicle lease Arrangements on or after 1 February 2004 n/A

102 Inventories 78, 98

104 Foreign currency 80, 105–106

106 Impairment of assets 78

107 Investment properties n/A

109 Intangible assets 79, 102

110 Cash Flow Statement 76

112A Defined Benefit Superannuation obligations 81, 118

113 Investments in Subsidiaries, Jointly Controlled Associates and entities 98, 114

114 Financial Investments 79, 98

depArtment of educAtion, employment And workplAce relAtions (deewr)Clause Disclosure page(s)

FRD 22B Analysis of the achievement of the entity’s operational and budget objectives for the financial year; should include comparative analysis of indicators such as DeeWR enrolments, graduations, student performance and satisfaction, staff profile,

research performance and performance position 20–22, 27–45, 56, 58–59

DeeWR Information with respect to the governance and administrative structure of the university, specifically council members and occupants of senior officers 10–14

DeeWR outline of student and staff grievance procedures and number of complaints made to and investigated by the ombudsman 54

DeeWR Details of information available on institution’s website, including locations of current and previous Annual Reports 53

DeeWR Compliance of Financial Statements with the Financial Statement Guidelines for Australian Higher Education Providers for 2011 Reporting Period issued by DeeWR 68–69

finAnciAl mAnAgement Act 1994 (fmA)Clause Disclosure page(s)

FMA 1994 Financial Statements:49 (a) Contain such information as required by the Minister49 (b) Are prepared in a manner and form approved by the

Minister49 (c) present fairly the financial transactions of the department

or public body during the relevant financial year to which they relate

49 (d) present fairly the financial position of the department or public body as at the end of that year

49 (e) Are certified by the accountable officer in the manner approved by the Minister 68–123

goVernment response to the reView of uniVersity goVernAnce (rug)Clause Disclosure page(s)

RuG Statement outlining that public funds allocated to the university have been allocated to the purposes specified by the Government or other public funding body. Statement is audited by the Auditor-General. 60

RuG university Council’s risk management strategy 46, 115–118

RuG Summary of financial performance of Associates and Commercial Ventures 47

educAtionAl serVices for oVerseAs students Act 2000 (esos)Clause Disclosure page(s)

eSoS (national Code Statement indicating compliance with ESOS Act 2000 2007 – Sections C and D) and the national Code of practice for Registration Authorities and providers of education and training to overseas Students (national Code 2007) 28

educAtion And trAining reform Act 2006 (etr)


etRA 2006, s. 3.2.8 Statement on compulsory non-academic fees, subscriptions and charges payable in the preceding financial year 45

decision of public Accounts And estimAtes committee of pArliAment


pAeC Financial and other information relating to institution’s (December 2011) international operations 27–28, 85, 91

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2011 - Parliament of Victoria

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