REPORT 2010 - USQ Student Guild · 2014-01-27 · University of Southern Queensland Student Guild...

USQ STUDENT GUILD

ANNUALREPORT 2010

S W I T C H E D O N T O M E M B E R S A N D T H E C O M M U N I T Y

w w w . s t u d e n t g u i l d . c o m . a u

ANNUAL REPORTUniversity of Southern Queensland Student Guild


WHAT’S INSIDE? WHAT’S INSIDE? WHAT’S INSIDE?



TABLE OF CONTENTS:

Vision Statement 1

Mission Statement 1

Board Members 2

Past Presidents 2

Life Members 2

Board Attendance Record 3

Report to Members 5

Member Services Overview 6

Student Development Programs 10

University Sports 11

Social Sports 12

Springfield Campus 13

Fraser Coast Campus 14

Financial Report 17

WHAT’S INSIDE? WHAT’S INSIDE? WHAT’S INSIDE?

ANNUAL REPORT1

University of Southern Queensland Student Guild


The USQ Student Guild will be the most efficient, effective and customer (member) orientated campus service organisation in Australia.Key Strategic Issues:• Representing the rights and interests of all USQ students• Supporting student development• Strengthening the Guild’s (and the University’s) interests and

image in the community• Enhancing the University community lifestyle and wellbeing• Building on our physical infrastructure• Conserving our environment• Developing and managing commercially successful business

operations• Providing quality organisational management and leadership

V I S I O N S TAT E M E N T

The Student Guild is highly regarded as a provider of quality services and programs which are inclusive and responsive to changing member needs and provides positive student development experiences.Core Values:• Excellence• Integrity• “Needs” focus• Participation, consultation and teamwork• Quality customer service• Quality workplace and outcomes• Value

M I SS I O N S TAT E M E N T

WHY WE DO WHAT WE DO... WHY WE DO WHAT WE DO...


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PresidentJackson Logan

Vice-PresidentChristopher Smith

Board MeMBers David JonesMatthew StevensonKarl MatthewsKim LundgaardPaul BrusheDaneka WaltersRobert Neilsen

B oA R D M E M B E R SAs at 31 December 2010

1967 Peter Albion 1968 Robert Hedges1969 John Gildea 1970 Greg Hoffman1971 Erle Stower 1972 Tom Hogan 1973 Mal Andersen 1974 Michael Singh 1975 Steve Noakes 1976 Vicki Barnes 1977 Helen Miler 1978 Lawrence Stapleton1979 Gregory Jackson1980 Cathy Jackson1981 Tim Nunan1982 Tim Nunan 1983 Les Moriarty 1984 John McNamara1985 John McNamara1986 Gus McLean1987 Gus McLean1988 Raymond Paroz 1989 Raymond Paroz

1990 Ross Furnari 1991 Donna Moodie1992 Donna Moodie1993 Tony Goodhew1994 Tim Kelly1995 Georgia Stewart1996 Georgia Stewart1997 Paul Barnes 1998 Alicia King 1999 Hayley Phillips 2000 Phillip Johnson2001 Phillip Johnson2002 Phillip Johnson2003 Damien Jones2004 Damien Jones2004 Matthew Stevenson2005 James o’Brien2006 James o’Brien2007 Christine Tainton2008 Christine Tainton2009 Tegan Case2010 Tegan Case

PA S T PR E S I D E N T S

Peter Albion

Mark Camman

Geoffrey Dick

Garry Filshie

Robert Hedges

Gregory Hoffman

Dale Lukritz

Ross Furnari

Tim Nunan

Donna Moodie

Mark Peterson

Dr Peter Chippendale

Renard Peters

Karen Rapaport

John Redman

Karl Staisch

Lawrence Stapleton

Bruce Stockwell

Gail McLean

Laura Younger

Raymond Paroz

Kevin Stapleton

Tony Goodhew

Tim Kelly

Graham Raftery

Dr Allison Dickson

Alicia King

Georgia Stewart

Hayley Phillips

Prof Peter Swannell

Samantha Hacon

Matthew Stevenson

Phillip Johnson

L I F E M E M B E R S

Vice-cHanceLLor’s rePresentatiVe / cHairManDanny Clifford

coUnciL rePresentatiVe Pam Steele

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NAME DATE APPOINTED POSITION ON BOARD POSSIBLE MEETINGS ATTENDED

ACTUAL MEETINGS ATTENDED

Danny Clifford Appointed January 2009 Chair & USQ Vice-Chancellor’s Nominee

9 9

Tegan Case Elected August 2008 Term completed August 2010

President - until August 2010

5 5

Jackson Logan Co-Opted March 2009,Re-elected July 2010

Vice-President - April 2009, President - August 2010 to March 2011

9 8

Dev Raj Paudyal Elected August 2008, Term completed August 2010

Board Member 5 4

David Jones Co-Opted March 2004,Elected September 2004, Re-elected August 2006, Co-Opted September 2008,Elected July 2009

Board Member 9 7

Karl Matthews Elected August 2009 Board Member 9 5Christopher Smith Elected August 2009 Vice-President -

August 2010, President - March 2011

9 9

Matthew Stevenson Co-Opted May 2002,Elected September 2002, Appointed September 2006 , Re-Appointed November 2009

Board Member 9 5

Kim Lundgaard Appointed August 2009 Board Member 9 6Paul Brushe Appointed November 2009 Board Member 9 6Daneka Walters Appointed August 2010 Board Member 4 4Robert Neilsen Appointed August 2010 Board Member 4 1Pam Steele Appointed August 2010 Council Nominee 4 3

In AttendanceKevin Stapleton General Manager 9 9Mary Wells Minutes 9 9

B oA R D AT T E N DA N C E R E Co R DFor the year ended 31 December 2010


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R E Po R T To M E M B E R SOverview 2010

During the year the Guild renegotiated a one year Service Level Agreement (SLA) with the university. A major focus of the new agreement was the alignment of the Guild’s activities with the objectives of the university’s strategic plan. This provided an opportunity for both the Guild and the University to ensure that the services funded by the university and provided by the Guild supported the university’s mission and its strategic direction, particularly as they relate to enhancing the student experience. Examples of how this has been achieved under the SLA are the on campus sport and recreation programs coordinated by Guild staff and the management and operation of the Clive Berghofer Recreation Centre on the Toowoomba campus. The sport and recreation programs are designed around the financial and time pressures on students and aim to enhance the learning experience by providing fulfilling, extra-curricular experiences. The Recreation Centre, now in its 16th year of operation, supports the regional community engagement activities of the university. It is an international standard facility, used extensively by USQ students and also by local schools and regional sports organisations for competitions and training. It is used as a venue for large public addresses and concerts as well as trade shows, careers fair, exhibitions, school and university activities including graduations. over 30,000 members of the community attended the Centre during the year. Response to the regular reports to the university indicates that it is satisfied with the contribution the Guild is making to support the university’s goals.

In negotiating the current SLA the university undertook to assist the Guild in costing its services with the stated aim of ensuring the activities of the SLA are adequately funded. The work is yet to be completed.

The challenge for the Guild is to ensure that its services remain relevant to current students. This is a particular challenge in relation to students who do not study on campus. It is a challenge also faced by the university. However, over many years the Guild and the university have cooperated with each other to ensure that the needs of distance education students are met. The Phoenix Award is one example of extending services to off campus students. The Phoenix Award aims to compliment the academic development programs of the university by developing each student’s personal qualities and skills so as to enhance their career opportunities. Students from all campuses as well as distance education students are enrolled in the program.

The financial position for the Guild is outlined in the following pages. During the year the Guild spent around $1.6million on services to students, campus facilities and overheads.

I would like to thank all those who have contributed to the success of the Student Guild especially the staff, all of whom make a significant contribution to the USQ experience.

Kevin J StapletonGENERAL MANAGER


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M E M B E R S E RV I C E SOverview 2010

M E M B E R S E R V I C E S D E PA R TM E N TThe Student Guild’s Member Services Department is the central point of contact for all students requiring help or assistance from the Student Guild whilst studying at USQ. In 2010, the roles of the Member Services Department included but were not limited to: • organisation and coordination of the Member Services programs and services including orientation activities

at all three USQ campuses, Common Hour and Residential School activities, student competitions and surveys, Recreational and Instructional Programs, Legal Service, Tax Help Service and Social Sports.

• Responsibility for the Student Guild and Phoenix Award websites, publication of the Guild Explorer e-newsletter and responding to emails in the Student Guild enquiries mailbox.

• Promotion and coordination of the Student Guild’s Student Development Programs – the Advocacy and Welfare Service, the Phoenix Award, Phoenix Volunteer Program and the cultural, academic, and sporting student clubs and societies.

• organisation of the Student Guild Residential Shield, the USQ Uni Games teams, and the 2010 University Sports Awards.

The Clive Berghofer Recreation Centre (CBRC) Reception staff assisted Member Services with ID cards and the locker, binding and laminating services in 2010. The CBRC Reception Desk was instrumental in assisting students with appointment bookings and registration/payment for various Member Services Department services and programs.

During 2010, the Student Guild freecall phone number and Student Guild Enquiries mailbox were convenient methods of communication for students. Both on-campus and distance education students were able to contact the Student Guild Member Services Department via phone or email and were able to access many of the Student Guild’s services and programs via information provided on the Student Guild website.

o R I E N TAT I o N AC T I V I T I E Sorientation Week (o’Week) is aimed at introducing the Semester 1 intake of first year students to the services and facilities offered by the University and the Student Guild. Many continuing students also visit the University during o’Week. In 2010, on-campus orientations were held at Toowoomba, Fraser Coast and Springfield campuses.

Students were able to take advantage of the information and giveaways from the commercial, social and sporting club stalls on Market Day, as well as attending the Student Guild o’Week activities organised by staff at each campus. In 2010, local and national businesses, USQ, the Student Guild, student clubs and societies and other service providers were present at the Student Guild’s Toowoomba campus Market Day. Students were provided with information regarding their products and events as well as a range of free giveaways and prizes.

The Guild Fun Days were held at each campus during the first two weeks of Semester 2, 2010. The Guild Fun Days aimed to introduce the Semester 2 intake of students to the services and programs offered by the Student Guild. In 2010, the Guild Fun Days consisted of entertainment, games, Market Stalls, food and fun. Guild Fun Day activities were varied across each campus.

B R oA D B A N D F o R S E N I o R S I N T E R N E T K I o S KDuring 2010, the Guild launched its free Broadband for Seniors (BFS) Internet Kiosk. BFS is an Australian Government initiative enabling computer access to Seniors to learn how to use computers, find information on the internet and keep in touch with family via email through tutoring sessions provided by a small group of USQ student volunteers.

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A DVo C ACY A N D W E L FA R E S E R V I C EDuring 2010, trained Member Services officers assisted over 100 students with matters relating to advocacy and welfare. These students were both domestic and international, undergraduate and postgraduate, on-campus and external. Considerable effort and time was given to each student to ensure the provision of reliable and independent information, advice and referrals to students seeking resolution by the appeals committees. Member Services staff have:

Co M M o N H o U R The Student Guild organised activities, Market Day stalls and fundraising food stalls which were set up in the R-Block Mall and Quad from 12pm until 2pm on Wednesdays (Common Hour) throughout each semester. Activities during Common Hour varied and most often involved the Student Guild’s Giant Board Games in the Quad. The Market Day stalls were an opportunity for businesses outside of the University to sell their services/products (provided these did not clash with those offered by the Student Guild or the University). The food stalls were a fundraising opportunity for the Student Guild affiliated Student Clubs and Societies.

Throughout the year, some larger Common Hour events were held. In 2010 these included the Great Australian Bite Fundraiser and Australia’s Biggest Morning Tea in Semester 1 and the Guild Fun Days and oktoberfest in the Quad during Semester 2.

J P S E R V I C EThe Student Guild Justice of the Peace Service (JP) operates Monday to Friday at Toowoomba campus, with the special Common Hour JP Service running in the Refectory on Wednesdays between 12pm and 1pm. Between March and November 2010, approximately 150 people utilised the Common Hour JP Service. The Justice of the Peace staff on duty, who were a mixture of Student Guild and USQ staff, cited/witnessed/signed approximately 700 documents. Between January and December 2010, over 500 people utilised the JP Service at the CBRC with Student Guild JPs citing approximately 2500 documents. The JP Service at K5 was utilised by 243 people with approximately 2027 documents cited by Student Guild JPs. The Students Guild’s JPs in the Refectory cited 146 documents.

L E GA L S E R V I C EThe Student Guild, in conjunction with South Queensland Law, provides a free legal service to all USQ students. Toowoomba students utilise this service face-to-face. However, during 2010 Fraser Coast, Springfield and Distance Education students have been encouraged to connect with the service via phone. In total, 49 students used the legal service between January and December 2010.

• Provided advice on academic requirements and student responsibilities.

• Provided academic support and advice.• Liaised with academic and administration staff.• Protected student rights.• Provided advice regarding the USQ regulations, in

particular, the USQ Academic Regulations.• Referred students to relevant Faculties/

Departments.• Referred students to outside agencies and bodies.

• Investigated student grievances.• Monitored University policies.• Provided representation and advocacy at

disciplinary hearings or meetings.• Provided advice and representation during the

appeals process.• Provided assistance with “show cause” letters,

“special consideration” applications, and “deferred examination” requests.

. . .Co N T I N U E D


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TA X H E L P S E R V I C EBetween mid-August and late-october students who required assistance with their 2009-2010 tax returns were assisted by ATo trained volunteers.

R E C R E AT I o N A L A N D I N S T R U C T I o N A L P R o G R A M SThe Student Guild, in conjunction with Pulse Start Training Solutions, ran a Senior First Aid and CPR course each month. In 2010, 115 students, staff and community members attended one of these courses held on the following dates:

Recreation Programs were held at the Clive Berghofer Recreation Centre (CBRC) each term during the academic year. These ran for a period of four to seven weeks and were open to USQ staff, students and the general community. During 2010, approximately 150 staff, students and community members have attended one or more of the following Recreation Programs:

R E S I D E N T I A L S C H o o L AC T I V I T I E SThe Student Guild held trivia nights during the Residential Schools held in February and September. These trivia nights were hosted at the USQ Club with up to 80 people attending each night. The Engineering Residential School students proved big fans of the Residential School Trivia Nights.

Residential School students were also offered an opportunity to purchase a ‘Residential School Pass’ to the USQ Works Health and Recreation Club.

S T U D E N T S U R V E Y SDuring Semester 1 2010, the Student Guild conducted a survey regarding the enrolment experience of USQ students using the new enrolment system. All 584 participants in the survey were given an opportunity to win one of five participation prizes ($50 USQ Bookshop vouchers). Feedback from the enrolment experience survey was forwarded to the University and considered in the review of the new enrolment system.

During Semester 2 2010, a USQ Study Desk survey was conducted with 284 students/staff providing their feedback regarding Study Desk. All participants were placed in the draw to win one of five participation prizes ($50 Wish Gift Cards). Feedback from this survey was also provided to the University for consideration.

• Saturday 13 March• Saturday 27 March• Saturday 1 May• Saturday 15 May

• Saturday 12 June• Saturday 24 July• Saturday 14 August• Saturday 11 September

• Saturday 27 November• Saturday 4 December

• Basic Japanese• Cooking• Martial Arts• Modern Mud• Self Defence• Street Funk Dance

• Basic German• Belly Dancing• Fire Twirling• Judo• Muay Thai• African Drumming

• Kendo• Six Step Rock n Roll• Introductory Aikido• Digital Photography &

Photoshop• Netball Umpiring


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S T U D E N T Co M P E T I T I o N SThe Student Guild ran the Semester 1 Six Word Novel Contest between March and April with entries received from students and staff across all three campuses. Distance Education students were also encouraged to enter. The contest attracted 81 student entries and 25 staff entries. Best overall and People’s Choice Winners and Runner-ups were awarded gift vouchers for the USQ Bookshop.

The annual Capture It! Digital Photography Competition was open to students and the theme for 2010 was “What I Can’t Live Without”. The number of entries received was the highest since the competition was established. Students from all campuses, including Distance Education students, were encouraged to submit between 1 and 6 photographs for their category. Entries were as follows: Distance Education - 22 entrants (103 photographs received), Fraser Coast - 16 entrants (58 photographs received), Springfield - 21 entrants (92 photographs received) and Toowoomba - 56 entrants (236 photographs received). The winners in the Best overall and People’s Choice category for each campus received a Panasonic Lumix digital camera. The runner up in the Best overall and People’s Choice category for each campus received a digital photo frame.

S T U D E N T G U I L D S H I E L DThe 2010 Student Guild Shield was a success with all three Residential Colleges (Concannon, McGregor and Steele Rudd) contributing to the spirit of the event. Throughout 2010, teams from each College participated in a range of sporting, trivia, Guild Idol and debating events. Steele Rudd were the Guild Shield winners for 2010, with Concannon closely behind and McGregor in third place. The Spirit Cup was awarded to Concannon College.

C H A R I TA B L E C AU S E S A N D H E A LT H AWA R E N E S SIn 2010, the Student Guild Member Services Department and Food and Beverage Departments coordinated and supported, respectively, a number of fundraising and health awareness events both on and off campus. These included:

C L U B S A N D S o C I E T I E SDuring 2010, the following clubs were endorsed by the Student Guild:

The Rambler (student newspaper) and the USQ Historical Society began the club endorsement process during 2010.

• Relay For Life (Cancer Council)• Great Australian Bite (Diabetes Australia)• Student Guild Health Day• Australia’s Biggest Morning Tea (Cancer Council)• World No Tobacco Day (World Health organisation)• Jeans for Genes Day (Children’s Medical Research

Institute)

• Pakistan Flood Appeal (oxfam Australia)• Daffodil Day (Cancer Council)• Mental Health Week (Mental Health Assoc Qld)• Pink Ribbon Day (Cancer Council)• Movember (Movember Foundation – Men’s Health)• Disability Action Week

• USQ Addicted to Anime • USQ Amnesty International • USQ Anthropology + Archaeology Society• USQ Community Environment Group• USQ Cougars AFL Club • USQ Cricket Club• USQ Engineering Club • USQ Firebirds Softball Club

• USQ International Relations Student Club • USQ Martial Arts Club - Bun Bu Ryo Do• USQ Northern Suburbs Hockey Club• USQ Papua New Guinea Student Association• USQ Saints Rugby Club • USQ Soccer Club• USQ Women in Engineering and Surveying (WIES)



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S T U D E N T D E V E Lo PM E N T PRo G R A M SOverview 2010

P H o E N I X AWA R DThe Phoenix Award is a non-competitive program aimed at helping students develop and build upon their employability skills and USQ Graduate Attributes. The program gives students the formal recognition they deserve for all of the extra and co-curricular activities they have undertaken while studying at USQ.

Throughout 2010, the Phoenix Award increased its participation levels and gained more support from the University. At the start of the year, there were 22 students enrolled in the program; 16 from Toowoomba and 6 at Fraser Coast. As of the end of December, there were 142 students enrolled from all three campuses as well as via Distance Education.

To receive the Phoenix Award, a student must accrue 1000 Phoenix Award points and complete a Reflective Journal based on their experiences while completing a variety of different activities and training.

A total of eight students received the Phoenix Award in 2010 including Springfield’s first awardee.

P H o E N I X Vo L U N T E E R P R o G R A MThe Phoenix Volunteer Program aims to encourage student involvement in the local community and to promote the Student Guild to USQ and the wider community. The program matches students, who are interested in donating some of their time, to a charity organisation within the local area. Partnership organisations in 2010 included:

The Phoenix Volunteer Program saw the participation of approximately 16 students during 2010 who had the option of volunteering with multiple services.

Staff coordinating the program travelled to Brisbane in November to attend a seminar held by Mark Creyton (Manager of Volunteering Queensland) to talk about volunteer programs and their development in terms of student involvement. The information and connections made will help with future developments of the program.

• Cancer Council QLD• HoPE• Save the Children Thrift Shop• Churches of Christ (Care)• Leukaemia Foundation of Queensland• St John Ambulance Australia• Easterfest• Lifeline Darling Downs• The Smith Family• Endeavour Foundation• QLD SES• Toowoomba Hospice Association

• Friends of Escarpment Parks• Riding for the Disabled Association QLD• Meals on Wheels Toowoomba• Guide Dogs QLD• RSPCA• Toowoomba PCYC• TRAMS• Kath Dickson Family Centre• Hervey Bay Council for the Arts• Hervey Bay Neighbourhood Centre• Conservation Volunteers Australia (Springfield)• Wesley Mission Brisbane

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U N I V E R S I T Y S Po R T SOverview 2010

AU S T R A L I A N U N I V E R S I T Y S P o R T S

In 2010, the Northern University Games were hosted by the Toowoomba campus of USQ. USQ finished 3rd overall behind Griffith and QUT and were placed 1st for the Population Cup (per capita).

Approximately 112 students from all three USQ campuses participated in a range of sports at the NUG’s including men’s basketball, women’s basketball, men’s footbal (soccer), men’s golf, women’s golf, lawn bowls, league 7’s, mixed netball, women’s netball, men’s tennis, women’s tennis, ten pin bowling, mixed touch, men’s volleyball and women’s volleyball.

The following teams and individuals gained places at the Northern University Games:• Men’s Basketball - 2nd place• Women’s Basketball - 3rd place• Men’s Football (soccer) - 3rd place• Men’s Golf - 4th place• Women’s Golf - 2nd place• Lawn Bowls - 2nd & 3rd places• Mixed Netball - 1st, 4th & 8th places• Women’s Netball - 6th & 9th places• Rugby League 7’s - 5th place• Men’s Tennis - 8th, 14th, 16th, 17th & 20th places• Women’s Tennis - 3rd, 5th & 8th places• Ten Pin Bowling - 3rd place• Mixed Touch - 6th place• Men’s Volleyball - 1st place• Women’s Volleyball - 3rd place

The 2010 Australian University Games were held in Perth during September with 8 students from USQ attending.

The following team gained a place at the Australian University Games: • Mixed Netball - 9th place

Visit www.unisport.com.au for further information about Australian University Sport.


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So C I A L S Po R T SOverview 2010

U N I V E R S I T Y S P o R T S AWA R D SThe annual University Sports Awards Dinner was hosted in october 2010. The achievements of students and community members in the areas of sport and recreation at USQ were recognised through the presentation of the following 2010 University Sports Awards.

CoMMENDATIoN AWARDS Lydia Wilson – Mixed Netball Brianna Prew – Mixed Netball Bianca Moffatt – Mixed Netball Danielle Ashley – Mixed Netball Patrick Cochrane – Mixed Netball

HoNoRARY BLUES AWARD Christie White – Softball

BLUES AWARD Grant Norman – Volleyball

2010 SPoRTS STAR oF THE YEAR Grant Norman - Volleyball

UNIVERSITY GAMES SHIELD USQ Mixed Netball Team

VICE CHANCELLoR’S CUP To THE CLUB oF THE YEAR USQ Saints Rugby Club (Club of the Year Awardee) USQ Soccer (Club of the Year Commendation)

S o C I A L S P o R T SThe Student Guild offered a range of social sports, providing the wider student body and community with the opportunity to become physically active.

SEMESTER 1, 2010• Monday Night Mixed Netball -

24 teams, 192 participants• Tuesday Night Women’s Netball -

10 teams, 80 participants• Wednesday Lunch Mixed Futsal -

9 teams, 60 participants• Thursday Lunch Tennis - 12 participants• Thursday Evening 3-on-3 Basketball -

7 teams, 21 participants• Thursday Night Mixed Volleyball -

6 teams, 36 participants• Friday Night Casual Badminton -

35 to 45 participants (this is casual attendance between 5:30pm and 8:30pm)

SEMESTER 2, 2010• Monday Night Mixed Netball -

24 teams, 216 participants• Tuesday Night Women’s Netball -

7 teams, 56 participants• Wednesday Lunch Mixed Futsal -

5 teams, 35 participants• Friday Night Casual Badminton -

35 to 45 participants (this is casual attendance between 5:30pm and 8:30pm)

SEMESTER 3, 2010over the University holiday period the Student Guild offered:• Thursday Night Basketball –

approx. 5 participants per week• Friday Night Badminton –

approx. 25 participants per week

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S PR I N G F I E L D CA M PU SOverview 2010

C L U B S A N D S o C I E T I E SThe Student Guild is the main contact for clubs and societies at the Springfield campus. Endorsed clubs for 2010 included:

C H A R I TA B L E C AU S E S A N D H E A LT H AWA R E N E S SIn 2010, the Student Guild coordinated and supported, respectively, a number of fundraising and health awareness events both on and off campus including:

L A R G E E V E N T S AT S P R I N G F I E L DThe Student Guild successfully hosted the End of Year Ball at the Goodna RSL Function Venue in November 2010 with over 115 guests attending. The Campus Director also offered 40 student volunteers free tickets to the Ball in appreciation for their support during the year. The night included a very humorous USQ Awards ceremony; viewing of a video produced by 1st year BAM students, a formal buffet meal, music by DJ Pharaoh, heaps of free giveaways and lucky door prizes.

I N T E R FAC U LT Y C H A L L E N G EThe Student Guild, along with USQ Student Experience, assisted in the planning and hosting of the Inter Faculty Challenge in March which consisted of trivia, tug o war and laser skirmish. This event provided students with an opportunity to have some fun, develop relationships with their peers and staff and celebrate the start of their University program.

o R I E N TAT I o NThe Student Guild successfully coordinated the 2010 Semester 1 Market Day. Market Day aims to give students the opportunity to meet their peers and network with local community groups. This was achieved by inviting 28 relevant stall holders to be present for the day to speak with students and offer a variety of information and resources.

R E C R E AT I o N A L A N D I N S T R U C T I o N A L P R o G R A M SThe Student Guild in conjunction with Pulse Start Training Solutions held Senior First Aid and CPR courses on two occasions during 2010. A total of 15 students completed the courses.

S o C I A L S P o R T S The Guild encouraged student participation in sporting endeavours during 2010 including the Inter Campus Sports Challenge. This consisted of students from both Toowoomba and Springfield travelling to a host campus where they participated in social stadium sports. Student sporting teams also participated in local sporting competitions during the year, including the USQ Firebirds (Mixed Netball) and the USQ Phoenix (Mixed Touch).

• USQ Dungeons and Dragons• USQ Chess Club• FESS – Faculty of Education Student Society • MoUSQlub• USQ Active

• USQ Parents • USQ Phoenix Mixed Touch• USQ Firebirds Netball• USQ Weightlfting Club• USQ Aiki Jutsu Club

• Relay For Life (Cancer Council)• Student Guild Health Day

• Australia’s Biggest Morning Tea (Cancer Council)• Disability Action Week


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F R A S E R CoA S T CA M PU SOverview 2010

The Fraser Coast Campus Student Guild office was also very busy in 2010, beginning with orientation, continuing onto the Guild Fun Days, free massages and a number of other important services, programs and activities.

L A R G E E V E N T S AT F R A S E R CoA S TThe Fraser Coast Guild office ran a number of events during 2010 including Guild Fun Days and Mental Health Week. The Student Guild’s free student massages proved to be popular with students. In addition, a number of First Aid and CPR courses were run by the Student Guild on-campus at Fraser Coast throughout 2010. There were 185 students in attendance at these First Aid and CPR courses.

U N I GA M E S & S P o R T S AT F R A S E R CoA S TFraser Coast had two students participate in the USQ University Games team in 2010.

A number of Fraser Coast students participate regularly in the local indoor soccer competition.

J P S E R V I C E A N D S T U D E N T I D C A R D SDuring 2010, the Fraser Coast JP Service was on offer for students, staff and community members. JP Services were performed for 261 students, staff, and general community members.

Throughout 2010, 920 student photo ID cards were processed by the Fraser Coast Student Guild office. With the addition of an ID card printer to the Fraser Coast office at the end of Semester 1 students were supplied their card at the time of taking the photo which was well received.

C H A R I TA B L E C AU S E S A N D H E A LT H AWA R E N E S SIn 2010, the Student Guild coordinated and supported, respectively, a number of fundraising and health awareness events both on and off campus including:• Relay For Life (Cancer Council)• Student Guild Health Day• Australia’s Biggest Morning Tea (Cancer Council)• Mental Health Week• Disability Action Week

R E C R E AT I o N A L A N D I N S T R U C T I o N A L P R o G R A M SThe Student Guild, in conjunction with Immediate Response First Aid Training, held Senior First Aid and CPR courses in July and September 2010. A total of 63 attendees completed the courses.

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GRAPHS FoR PUBLISHED REPoRT (IF REQUIRED)

‐223

9

202

634

90

‐365

‐120 ‐158

2003 2004 2005 2006 2007 2008 2009 2010

Operating Result $ '000

GraphsAnnualReport2010.xlsxM Carey

4/02/2011

‐223

9

202

634

90

‐365

‐120 ‐158

2003 2004 2005 2006 2007 2008 2009 2010

Operating Result $ '000


4/02/2011


3 175

3 989 3 989

5 0115 297 5 181

4 8294 349

2003 2004 2005 2006 2007 2008 2009 2010

total assets $'000


4/02/2011

3 175

3 989 3 989

5 0115 297 5 181

4 8294 349

2003 2004 2005 2006 2007 2008 2009 2010

total assets $'000


4/02/2011


1 637

2 375 2 532

3 7274 327

3 949 3 908 3 750

2003 2004 2005 2006 2007 2008 2009 2010

net assets $'000


4/02/2011

1 637

2 375 2 532

3 7274 327

3 949 3 908 3 750

2003 2004 2005 2006 2007 2008 2009 2010

net assets $'000


4/02/2011GRAPHS FoR PUBLISHED REPoRT (IF REQUIRED)

5 545

5 933

5 701

6 000

4 795

4 527

4 793 4 744

5 768

5 924

5 5005 366

4 705

4 892 4 913 4 902

2003 2004 2005 2006 2007 2008 2009 2010

Total Income & Expenditure $ '000Income Expenditure


4/02/2011

5 545

5 933

5 701

6 000

4 795

4 527

4 793 4 744

5 768

5 924

5 5005 366

4 705

4 892 4 913 4 902

2003 2004 2005 2006 2007 2008 2009 2010

Total Income & Expenditure $ '000Income Expenditure


4/02/2011


1628 16861783

873

900

800700 700 700

2003 2004 2005 2006 2007 2008 2009 2010

Student Membership Fees and USQ Services Fee $ '000Student membership fees USQ services fee


4/02/2011

1628 16861783

873

900

800700 700 700

2003 2004 2005 2006 2007 2008 2009 2010

Student Membership Fees and USQ Services Fee $ '000Student membership fees USQ services fee


4/02/2011

ANNUAL REPORT17



F I N A N C I A L R E Po R TFor the year ended 31 December 2010

Directors’ Report 18Statement of Comprehensive Income 19Statement of Financial Position 20Statement of Changes in Equity 21Statement of Cash Flows 22Notes to the Financial Statements 23Directors’ Statement 33Independent Audit Report 34


ANNUAL REPORT18


D I R E C To R S’ R E Po R TFor the year ended 31 December 2010

Your Directors submit the financial report of the University of Southern Queensland Student Guild (“the Guild”) for the financial year ended 31 December 2010.

D I R E C To R SThe names of Directors throughout the year and/or at the date of this report are:

APPoINTED CEASED APPoINTED CEASED

Matthew StevensonBMassComm, BA(Hons) (USQ)

May-02 - Karl MatthewsBEng, MBA

Aug-09 Mar-11

David JonesBETC (USQ)

Mar-04 - Kim LundgaardB Bus (UQ), MBA (HRM)(USQ), GradCertLegalSt (QUT)

Aug-09 -

Dev Raj PaudyalMSc ITC

Aug-08 Aug-10 Paul BrusheBEng, MBA(Acct)

Nov-09 Mar-11

Tegan Case Aug-08 Aug-10 Robert Neilsen Aug-10 -

Danny CliffordBBus (Ind Rel)(QUT),LLB (Bond)

Jan-09 - Pam SteeleLLB, MSocSc (UQ)

Aug-10 -

Jackson Logan Mar-09 - Daneka WaltersBBus (USQ)

Aug-10 -

Christopher Smith Aug-09 -

P R I N C I PA L AC T I V I T I E SThe principal activities of the Guild during the financial year were:

• to support the educational processes of the University of Southern Queensland; and• to provide facilities and services to members of the Guild.

S I G N I F I C A N T C H A N G E SNo significant change in the nature of these activities occurred during the year.The operations of the Guild are not regulated by any significant environmental regulation under a law of the Commonwealth or of a state or territory.

o P E R AT I N G R E S U LTThe operating result for the year, after abnormal items, was a deficit of $157,605 (2009: $119,569)

Signed in accordance with a resolution of the Directors.

Danny Clifford Christopher Smith Chairman President 22 March 2011 Toowoomba

ANNUAL REPORT19



STATEMENT oF CoMPREHENSIVE INCoMEFor the year ended 31 December 2010

note 2010 2009$ $

revenueSales revenue 3,430,852 3,549,543Cost of sales (1,048,245) (1,094,381)

Gross profit 2,382,607 2,455,162

other revenue 2 1,312,825 1,243,617

Employee costs 5 (2,568,967) (2,353,062)Amortisation expense 8(a) (4,427) (9,555)Depreciation expense 9(a) (176,634) (176,684)Borrowing costs (8,559) (16,929)other expenses 4 (1,220,480) (1,302,739)

total expenses (3,979,067) (3,858,969)

deficit before items below (283,635) (160,190)

other comprehensive incomeFixed asset disposals and revaluations 3 126,030 40,621

Income tax expense 1(e) - -

deficit after income tax (157,605) (119,569)


ANNUAL REPORT20


S TAT E M E N T o F F I N A N C I A L Po S I T I o NAs at year ended 31 December 2010

cUrrent LiaBiLitiesPayables 112,973 152,818Borrowings 10 - -Finance lease 11 51,301 62,255Provisions 12 321,957 562,169total current liabilities 486,231 777,242

non-cUrrent LiaBiLitiesFinance lease 11 - 49,971Provisions 12 111,925 93,453total non-current liabilities 111,925 143,424

totaL LiaBiLities 598,156 920,666

net assets 3,750,466 3,908,071

eqUityAsset revaluation reserve 361,658 361,658 Building fund reserve - 220,000Retained earnings 3,388,808 3,326,413

totaL eqUity 3,750,466 3,908,071

note 2010 2009$ $

cUrrent assetsCash and cash equivalents 83,122 52,513 Investments 6 2,588,013 2,865,653Inventories 80,375 83,535Receivables 7 100,876 80,803Prepayments 41,488 40,164total current assets 2,893,874 3,122,668

non-cUrrent assetsInvestments 6 401,126 384,066 Intangible assets 8 - 4,427Property, plant and equipment 9 1,053,072 1,317,026other 550 550total non-current assets 1,454,748 1,706,069

totaL assets 4,348,622 4,828,737

ANNUAL REPORT21



S TAT E M E N T o F C H A N G E S I N E Q U I T YFor the year ended 31 December 2010

R e s e r ve sRetained Earnings

$

Asset Revaluation

$

Building Fund

$total

$at 1 January 2009 3 ,445,982 282,720 220,000 3,948,702

Net deficit for the year (119,569) (119,569)Fair value revaluation of land and buildings 48,938 48,938Fair value revaluation of taxi licence 30,000 30,000

at 31 december 2009 3,326,413 361,658 220,000 3,908,071

Net deficit for the year (157,605) (157,605)Reclassification of reserve 220,000 (220,000) -

at 31 december 2010 3,388,808 361,658 - 3,750,466

n a t u r e a n d p u r p o s e o f r e s e r ve s

Asset revaluation reserve

The asset revaluation reserve is used to record increments and decrements in the fair value of land and buildings, investments and other assets, to the extent that they offset one another.


ANNUAL REPORT22


S TAT E M E N T o F CA S H F LoWSFor the year ended 31 December 2010

note 2010 2009$ $

casH FLow FroM oPeratinG actiVitiesReceipts from commercial & other operations 4,514,377 4 ,628,121Payments to suppliers & employees (5,058,614) (4,951,983)Interest & dividends received 170,399 134,379Borrowing costs paid (8,559) (16,929)net cash used in operating activities 13(b) (382,397) (206,412)

casH FLow FroM inVestinG actiVitiesPayment for fixed asset purchases (75,451) (503,483)Payment for investments (19,597) (13,741)Proceeds from fixed asset sales 291,339 28,727net cash provided by/(used in) investing activities 196,291 (488,497)

casH FLow FroM FinancinG actiVitiesRepayment of borrowings (60,925) (102,492)net cash used in financing activities (60,925) (102,492)

Net decrease in cash held (247,031) (797,401)Cash at the beginning of the year 2,918,166 3 ,715,567cash at the end of the year 13(a) 2,671,135 2 ,918,166

ANNUAL REPORT23



N oT E S To T H E F I N A N C I A L S TAT E M E N T SFor the year ended 31 December 2010

note 1: stateMent oF siGniFicant accoUntinG PoLicies

(a) Basis of PreparationThis financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Australian Accounting Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board. The financial report is prepared on an accruals basis and is based on historical costs except for land and buildings, investments and taxi licence, which have been measured at fair value. Cost is based on the fair values of the consideration given in exchange for assets. The accounting policies have been consistently applied, unless otherwise stated.The same accounting policies and methods of computation have been followed in this financial report as were applied in the previous annual financial statements.The following is a summary of the material accounting policies adopted by the Guild in the preparation of the financial report:

(b) statement of compliance - australian equivalents to international Financial reporting standardsThe financial report complies with Australian Accounting Standards, which include Australian equivalents to International Financial Reporting Standards (“AIFRS”). Compliance with AIFRS ensures that the financial report, comprising the financial statements and notes thereto, complies with International Financial Reporting Standards (“IFRS”).

(c) Property, Plant and equipment(i) Land and Buildings are measured at fair value by independent or by directors’ valuation.(ii) Plant and equipment purchased for less than $500 is expensed in the year of purchase. Plant

and equipment purchased at $500 or over is capitalised and is stated at cost less accumulated depreciation and any impairment in value.

(iii) The Guild has invested in structural improvements and extensions in the USQ Club and the Clive Berghofer Recreation Centre and associated sports facilities. These assets are attached to land owned by the University of Southern Queensland. The Guild does not hold any tenure over the land other than by way of an uninterrupted arrangement with the University, deemed to be equivalent to tenure. The Guild has adopted the policy that the present arrangement as to tenure of the USQ Club and the Clive Berghofer Recreation Centre will continue, without interruption, into the future. Accordingly the measurement of the carrying value of these assets is considered appropriate.

(iv) Depreciation is calculated over the estimated useful life of the asset on the following basis: Buildings by Diminishing Value - 2.5% Plant and equipment by Prime Cost - 10% - 50% Motor Vehicles by Diminishing Value - 15% - 25%(v) Impairment

The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

(vi) RevaluationsFollowing initial recognition at cost, land and buildings are carried at a revalued amount which is the fair value at the date of the revaluation less any subsequent accumulated depreciation on buildings and accumulated impairment losses.Fair value is determined by reference to market based evidence, which is the amount for which the assets could be exchanged between a knowledgeable willing buyer and a knowledgeable willing seller, in an arm’s length transaction at the valuation date. Any revaluation surplus is credited to the asset revaluation reserve, unless it reverses a revaluation decrease of the same asset previously recognised in the statement of comprehensive income. Any revaluation deficit is recognised in the statement of comprehensive income, unless it directly offsets a previous surplus of the same asset in the revaluation reserve. Directors’ valuations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from the asset’s fair value at the balance date.


ANNUAL REPORT24



(d) inventoriesInventories are valued at the lower of cost and net realisable value. Costs are assigned on a first-in first-out basis.

(e) income taxThe Guild is exempt from Income Tax under the provisions of Section 50-5 of the Income Tax Assessment Act 1997.

(f) Financial instrumentsThe carrying value of term deposits and other investments is brought to account at cost or fair value. Dividends and distributions are brought to account as they are received. The carrying value of receivables and payables approximate their fair value.

(g) Bad and doubtful debtsProvision for bad and doubtful debts is made for debts that are known to be bad, or the recovery of the outstanding amount is considered unlikely.

(h) LeasesLeases of fixed assets, where substantially all risks and benefits incidental to the ownership of the asset, but not legal ownership, are transferred to the Guild, are classified as finance leases.Finance leases are capitalised, recording an asset and a liability equal to the value of the minimum lease payments, including any guaranteed residual values. Leased assets are depreciated where it is likely that the entity will obtain ownership of the asset.Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred.

(i) Goods and services tax (Gst)Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables at the balance date are shown inclusive of GST.

(j) employee BenefitsProvision is made for the Guild’s liability for employee benefits arising from services rendered by employees to balance date. Employee benefits expected to be settled within one year, have been measured at cost as at balance date.All employee entitlements payable later than one year, have been measured at the present value of the estimated future cash flows.Contributions are made by the Guild to complying superannuation funds of the employee’s choosing and are charged as expenses when incurred.

ANNUAL REPORT25




Plant and equipment - proceeds on disposal 284,696 91Carrying value at time of disposal (156,308) (45)Surplus on disposal 128,388 46

Motor vehicles - proceeds on disposal 6,642 28,636Carrying value at time of disposal (6,463) (25,483)Surplus on disposal 179 3 ,153

Investments - carrying value at year end 203,253 146,234Investments - market value at year end 200,716 183,656Revaluation (deficit) / surplus for year (2,537) 37,422

Total surplus for year 126,030 40,621

2010 2009$ $

Service fees 700,000 700,000Sporting and event income 287,296 275,564Interest and dividends 170,399 134,379Rental income 34,007 23,035Grants 65,090 61,900other revenue 56,033 48,739other revenue total 1,312,825 1,243,617

note 2 : otHer reVenUe

note 3: F iXed asset disPosaLs and reVaLUations


ANNUAL REPORT26



note 4 : otHer eXPenses

note 5: eMPLoyMent costs

2010 2009$ $

Audit fees 10,000 10,090Bad debts (1,347) 1,703Communication and stationery 86,181 84,050Computer network and IT support 58,908 54,776Equipment (< $500) 23,919 23,654Fringe benefits tax 13,805 13,917Grants 11,000 10,908Honorariums including directors’ superannuation 11,063 12,504Property 24,879 7 ,066Legal and industrial relations 12,000 13,634Repairs and maintenance 68,930 89,377Website 5,927 9,079other expenses - commercial activities 493,465 549,813other expenses - service activities 282,247 319,396other expenses - administration and board 119,503 102,772Total other expenses 1,220,480 1 ,302,739

Salaries, wages and superannuation 2,552,604 2,341,249Workers’ compensation 16,363 11,813Total employee costs 2,568,967 2 ,353,062

cUrrentCash management and term deposit 2 ,865,653 2 ,865,653

non-cUrrentListed shares and managed funds at current market value 200,716 183,656Tertiary Access Group Co-operative Limited at cost 400 400Mecu Limited at cost 10 10Taxi licence at current market value 200,000 200,000Total non-current investments 401,126 384,066

(a) Listed shares and managed funds at cost 223,677 204,080

(b) Taxi licence at cost 82,051 82,051

note 6: inVestMents

6(a)

6(b)

ANNUAL REPORT27




2010 2009$ $

Trade and other debtors 101,450 82,724Less provision for doubtful debts (574) (1,921)Total receivables 100,876 80,803

net Book ValueLicences at cost 60,860 60,860Less accumulated amortisation (60,860) (56,433)Total net book value - 4,427

(a) Movements in the carrying amounts of intangible assets

Balance at the beginning of the year 4,427 13,982Amortisation (4,427) (9,555)Balance at the end of the year - 4,427

net Book ValueLand and buildings at fair value 570,000 570,000Less accumulated depreciation (7,124) -

562,876 570,000

Motor vehicles at cost 289,938 327,384Less accumulated depreciation (161,022) (154,467)

128,916 172,917

Plant and equipment at cost 2,919,369 3,393,506Less accumulated depreciation (2,558,089) (2,819,397)

361,280 574,109

Total net book value 1,053,072 1,317,026

note 7: rece iVaBLes

note 8 : intanGiBLe assets

note 9: ProPerty, PLant and eqUiPMent


ANNUAL REPORT28



2010 2009$ $

(a) reconciliationsReconciliations of the carrying amounts for each class of asset are set out below:

Land and BuildingsCarrying amount at beginning of year 570,000 239,603Additions - 285,251Revaluation surplus transferred to reserves (i) - 48,938Depreciation expense (7,124) (3,792)Carrying amount at end of year 562,876 570,000

Motor vehiclesCarrying amount at beginning of year 172,917 188,950Additions - 54,181Disposals (6,463) (25,482)Depreciation expense (37,538) (44,732)Carrying amount at end of year 128,916 172,917

Plant and equipmentCarrying amount at beginning of year 574,109 538,262Additions 75,451 164,052Disposals (156,308) (45)Depreciation expense (131,972) (128,160)Carrying amount at end of year 361,280 574,109

(i) Revaluation - Land and buildings

In accordance with the policy of regular revaluations, the directors revalued land and buildings as at 31 December 2009.

note 9 ProPerty, PLant and eqUiPMent (cont inued)

ANNUAL REPORT29




Finance leasing and hire purchase commitments:Payable:- not longer than 1 year 52,630 69,432- longer than 1 but not longer than 2 years - 53,285Minimum lease payments 52,630 122,717Less future finance charges (1,329) (10,491)Total finance lease liability 51,301 112,226

cUrrentFinance lease liability 51,301 62,255

non-cUrrentFinance lease liability - 49,971

caPitaL coMMitMentsCommitments for the acquisition of plant and equipment 167,135 -

cUrrentGST and FBT 33,673 37,479Commercial provisions 29,284 295,327Employee entitlements 259,000 229,363Total current provisions 321,957 562,169

non-cUrrentEmployee entitlements 111,925 93,453

note 11: LeasinG and caPitaL coMMitMents

note 12 : ProVis ions

note 10 : BorrowinGs

cUrrentCommonwealth Bank of Australia

The Commonwealth Bank of Australia has a First Registered Mortgage over property owned by the Guild and a First Registered Bill of Sale over all Guild assets to secure loans, advances and guarantees made by them from time to time.

At the reporting date, the overdraft facility of $50,000 (2009 $50,000) was unused.

- -

2010 2009$ $


ANNUAL REPORT30



2010 2009$ $

(a) Reconciliation of cashCash at end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows:

Cash 83,122 52,513Deposits at call 2,588,013 2,865,653

2,671,135 2,918,166

(b) Reconciliation of net cash used in operating activities to the net deficit from operations.

Net deficit for the year (157,605) (119,569)

Non-cash flows in operating result:- Amortisation 4,427 9,555- Depreciation 176,634 176,684- Surplus on disposal of property, vehicles and plant and equipment

(128,567) (3,199)

- Deficit / (surplus) on revaluation of carrying value of investments

2,537 (37,422)

Changes in assets and liabilities:- Increase in trade debtors (20,073) (23,075)- Decrease in inventories 3,160 11,548- Increase in prepaid expenses (1,324) (12,251)- Decrease in trade creditors (39,845) (12,686)- Decrease in accrued expenses (269,850) (220,574)- Increase in employee provisions 48,109 24,577Net cash used in operating activities (382,397) (206,412)

The directors act in an honorary capacity and receive no compensation for their services except for honorariums paid to the President and Vice-President.

The number of the directors whose remuneration falls within the following bands:

$0 11 10$1 - $1,000 0 0$1,001 - $3,000 0 0$3,001 - $5,000 1 1$5,001 - $10,000 1 1

Total remuneration of directors 11,063 12,504

note 13: casH FLow inForMation

note 14: reMUneration oF d irectors

ANNUAL REPORT31




2009Financial instruments Range of

interest rates

Floating interest

rate

Fixed interest rate maturing

in 1 year or less


1 to 5 years

Non-interest bearing

Total carrying amount at

balance date

2009 2009 2009 2009 2009 2009% $ $ $ $ $

(i) Financial assetsCash na - - - 52,513 52,513 Short term deposits 3.45-4.50 113,113 2,752,540 - - 2,865,653 Managed funds na - - - 177,894 177,894 Listed shares na - - - 6,172 6,172 Taxi licence na - - - 200,000 200,000 Receivables na - - - 80,803 80,803

Total financial assets 113,113 2,752,540 - 517,382 3,383,035

(a) interest rate risksThe Guild’s exposure to interest rate risks and effective interest rates of financial assets and financial liabilities at balance date are as follows:


interest rates

Floating interest

rate


in 1 year or less


1 to 5 years



balance date

2010 2010 2010 2010 2010 2010% $ $ $ $ $

(i) Financial assetsCash na - - - 83,122 83,122Short term deposits 3.65-6.30 115,851 2,472,162 - - 2,588,013 Managed funds na - - - 196,029 196,029Listed shares na - - - 5,097 5,097Taxi licence na - - - 200,000 200,000 Receivables na - - - 100,876 100,876

Total financial assets 115,851 2,472,162 - 585,124 3,173,137

note 15: F inanciaL instrUMents


ANNUAL REPORT32




interest rates

Floating interest

rate


in 1 year or less


1 to 5 years



balance date

2010 2010 2010 2010 2010 2010% $ $ $ $ $

(ii) Financial liabilitiesPayables na - - - 112,973 112,973Leases 9.6-10.9 - 51,301 - - 51,301

Total financial liabilities - 51,301 - 112,973 164,274


interest rates

Floating interest

rate


in 1 year or less


1 to 5 years



balance date

2009 2009 2009 2009 2009 2009% $ $ $ $ $

(ii) Financial liabilitiesPayables na - - - 152,818 152,818Leases 9.6-10.9 - 62,255 49,971 - 12,226

Total financial liabilities - 62,255 49,971 152,818 265,044

(b) net fair valueThe carrying amount approximates the net fair value of financial assets and financial liabilities as disclosed in Note 1(f).

(c) credit riskThe maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date torecognisedfinancialassetsisthecarryingamount,netofanyprovisionsfordoubtfuldebtsofthoseassets,asdisclosedinthestatementoffinancialpositionandinthenotestothefinancialstatements.

note 15: F inanciaL instrUMents (cont inued)

ANNUAL REPORT33



In accordance with a resolution of the Directors of the University of Southern Queensland Student Guild (“the Guild’), we state that in the opinion of the Directors, the financial report as set out on pages 18 to 32: -

1. Presents fairly the financial position of the Guild as at 31 December 2010 and its performance for the year ended on that date in accordance with Australian Accounting Standards, mandatory professional reporting requirements and other authoritative pronouncements of the Australian Accounting Standards Board.

2. At the date of this statement, there are reasonable grounds to believe that the Guild will be able to pay its debts as and when they fall due.

3. Meetings of the Directors were held in accordance with the rules of the Guild.

This statement is made in accordance with a resolution of the Directors and is signed for and on behalf of the Directors by:

Danny Clifford Chairman

Christopher SmithPresident

22 March 2011Toowoomba

D I R E C To R S’ S TAT E M E N TFor the year ended 31 December 2010


ANNUAL REPORT34


I N D E PE N D E N T AU D I T R E Po R TFor the year ended 31 December 2010

DINGLE & CAIRNSChartered Accountants

W . J . D I N G L EPartner

R E P o R T o N T H E F I N A N C I A L R E P o R TWe have audited the accompanying financial report, being a general purpose financial report, of the University of Southern Queensland Student Guild which comprises the statement of financial position as at 31 December 2010, and the statement of comprehensive income, statement of changes in equity and the statement of cash flows for the year then ended, a summary of significant accounting policies, other explanatory notes and the directors’ declaration.

D I R E C To R S’ R E S P o N S I B I L I T Y F o R T H E F I N A N C I A L R E P o R TThe directors of the company are responsible for the preparation and fair presentation of the financial report and have determined that the accounting policies described in Note 1 to the financial statements, which form part of the financial report, are appropriate to meet the requirements of the members. The directors’ responsibility also includes establishing and maintaining internal controls relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

A U D I T o R ’ S R E S P o N S I B I L I T Your responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors as well as evaluating the overall presentation of the financial report.

The financial report has been prepared for distribution to members for the purpose of fulfilling the directors’ financial reporting obligations. We disclaim any assumption of responsibility for any reliance on this report or on the financial report to which it relates to any person other than the members, or for any purpose other than that for which it was prepared.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion.

I N D E P E N D E N C EIn conducting our audit, we have complied with the independence requirements of Australian professional ethical pronouncements.

AU D I To R ’ S o P I N I o NIn our opinion, the financial report presents fairly, in all material respects, the financial position of the University of Southern Queensland Student Guild as at 31 December 2010, and of its financial performance for the year ended on that date, in accordance with accounting policies described on Note 1 and in accordance with Australian Accounting Standards, including the Australian Accounting interpretations.

22 March 2011Toowoomba

ANNUAL REPORT35



N oT E S:


ANNUAL REPORT36


N oT E S:

USQ STUDENT GUILD CoNTACT DETAILS

Toowoomba Fraser Coast Springfield

P.o. Box 28Darling Heights QLD 4350

Phone (07) 4631 1588Freecall 1800 076 301Fax (07) 4636 1458Freefax 1800 817 188

P.o. Box 910Hervey Bay QLD 4655

Phone (07) 4194 3144Fax (07) 4194 3154

P.o. Box 4196SpringfieldQLD4300

Phone (07) 3470 4283Fax (07) 3470 4201

Email [email protected]

sportsfacilities

sportsfacilities

...USQ STUDENT GUILD

T H E U S q S T U D E N T g U I l D p R O U D lY p R E S E N T . . .

REPORT 2010 - USQ Student Guild · 2014-01-27 · University of Southern Queensland Student Guild...

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