Vocational and Higher Education Holmesglen Annual Report 2012

Transcription

Vocational and Higher Education
Copyright @Holmesglen Institute of TAFE, March 2013
Holmesglen is the trading name of Holmesglen Institute of TAFE
City campus
332 St Kilda Road, Southbank
Victoria, Australia 3006
Moorabbin campus
488 South Road, Moorabbin
Moorabbin-Bulli Street campus
36 Bulli St, Moorabbin
Rural Learning Centre
Moore Road, Eildon
Waverley campus
595 Waverley Road, Glen Waverley
All written correspondence to:
PO Box 42
Holmesglen
T: +61 3 9564 1555
E: info@holmesglen.edu.au
W: www.holmesglen.edu.au
Holmesglen Annual Report 2012
Chadstone campus
Batesford Road, Chadstone
ANNUAL
REPORT
2012
Our mission is
the delivery and
development of
vocational education
programs and value
added services
supported by high
quality resources.
Students receive
every opportunity
to achieve their
educational goals.
Requests for further
information
can be directed to:
Holmesglen
Office of the Chief Executive
PO Box 42
Holmesglen, Victoria 3148
Further copies can be obtained from:
Holmesglen
Marketing Unit
PO Box 42
T: 03 9564 1555
E: marketing@holmesglen.edu.au
ANNUAL REPORT 2012 CONTENTS
02
Holmesglen Establishment
03
President’s Report
04
Institute Board
04Committees
06
Senior Staff
07
Organisational Chart
08
Report of Operations
10Excellence
11
Student Awards
12
Awards Festival
13
Corporate Responsibility
16
Holmesglen’s 30th Anniversary
18Scholarship
19
Higher Education
19
Speaking Engagements
22Access
23
Faculty Reports
23
Faculty of Building Construction & Architectural Design
23
Faculty of Business & Finance
24
Faculty of Design, Arts & Science
24
Faculty of Engineering, Electrical & Information Technology
24
Faculty of Health Science & Community Studies
25
Faculty of Language & Vocational Pathways
26
Faculty of Education, Service Skills & Environment
27
International Centre
28
Administrative Reports
28
Corporate Improvement Unit
28
Learning Commons
28
Marketing Unit
29
Media Services Department
29
National Training Solutions Centre
30
Registrar’s Department
30
Student Services
31
Graduate Employment Service
31
Technology Services Department
32Facilities
32Compliance
32
Environmental Performance
34Enterprise
35
Conference Centre and Corporate Suites
35
Hemisphere Conference Centre and Hotel
35
Community and Industry Short Courses
36
Centre of Business Development
36
36
Holmesglen Employment
36
Learning Innovation and Development
38Integrity
Key Performance Indicators
42
42
Fees and Charges
Student Data
43
44
Human Resources
47Compliance
48Financial
Notes to Financial Statements
57
92
Disclosure Index
96
Glossary of Terms
HOLMESGLEN ANNUAL REPORT 2012
1
HOLMESGLEN ESTABLISHMENT
Holmesglen has been proudly delivering and developing
vocational education programs since 1982.
Holmesglen Institute of TAFE was officially opened in February
1982 on the former site of Holmesglen Constructions in
Batesford Road, Chadstone. The Institute was established
under the Post-Secondary Act (1978) to provide a range
of general TAFE programs for the community and basic
training for all the trades associated with the building and
construction industry.
The Institute has grown significantly since its beginnings
in 1982, and is now the largest TAFE provider for overseas
students. Holmesglen has grown to be a multi sectoral
institute that delivers a broad range of vocational education
and training services across three Melbourne campuses
and internationally.
The Institute continues to broaden its range of products and
services to ensure it meets the expectations and needs of
students, and is committed to providing excellent teaching
facilities for both students and staff. The Institute rebranded
in 2008 with a new look logo and a new tag line ‘Vocational
and Higher Education’ which more fully represents its
strategic direction.
The Minister responsible for TAFE institutes in 2012 was
The Hon. Peter Hall, MLC, Minister for Higher Education and Skills.
1982
Officially opened on the Chadstone site.
1987
Occupies former Oakleigh Technical School site.
Student numbers pass 10,000 (up 32% to 11,614).
Conference Centre opened. Becomes the first
Australian TAFE College approved as an ELICOS
provider, enabling the recruitment of fee-paying
overseas students.
1992
Takes possession of the new Waverley site and
relocates Oakleigh facilities.
1994 First Australian educational institution to be
registered as ISO 9001/AS 3901/NZS 9001
compliant and has maintained continuous approval
since.
1996
Enrolments reach 29,802 and student contact hours
reach 5.9 million.
2002
Moorabbin campus of Chisholm Institute of TAFE
transferred to Holmesglen, along with approximately
200 staff and 15,000 students.
2003 Rural Learning Centre, the Institute’s rural property
located five kilometres from Eildon, is purchased.
2005
Major works completed on the Moorabbin campus
resulting in creation of two educational precincts and
total capacity of 30,000 students studying in both
day and evening classes.
2006
Two new educational facilities completed at the
Waverley campus together with a new cafeteria.
2008
Following legislative change in 2003, the
Institute embarks on significant development of
higher education programs, and in 2009 had
15 undergraduate degrees accredited including
a landmark accreditation of a Division 1 Nursing
degree.
2009 The Rural Learning Centre’s state of the art student
and staff conference facility with accommodation for
18 staff and 48 students is opened.
2
Holmesglen becomes the only TAFE Institute in
Australia to receive Commonwealth supported places
for higher education.
2011
Health services five story building completed at the
Moorabbin campus.
Three storey building for early childhood education
and the Vocational College completed at the Waverley
campus.
2012
Bulli Street facility opened.
VOCATIONAL AND HIGHER EDUCATION INSTITUTE HISTORY AND PRESIDENT’S REPORT
PRESIDENT’S REPORT
The past twelve months have placed considerable strain on
the Institute. The widely reported State government reductions
in funding for TAFE Institutions has had a considerable impact
on Holmesglen. The impact will be a significant increase in
fees for students. Simultaneously governance changes are
being implemented. My Board believes that the changes to
governance arrangements are being introduced with undue
haste and especially given the complexity of the changes.
The connection between the governance changes and
the much anticipated report from the State Government
sponsored “TAFE Reform Panel” is unclear and contributes
to uncertainty in relation to the strategic directions for TAFE
institutions in this State.
In responding to the financial reductions, my Board decided
that whilst student fees would increase, we would maintain
our commitment of access to vocational education for 2013,
especially in relation to providing programs for students
with disadvantages. We have also increased our efforts in
higher education with the announcement that the University
of Canberra will co-locate with Holmesglen in Melbourne. We
anticipate that this partnership will be of great benefit to the
Institute, the University of Canberra and higher education in
years to come.
Internationally, we continue to be frustrated by Commonwealth
Government processes which are limiting genuine student
access to vocational education. We would be hopeful that the
Commonwealth will alter visa regulations and arrangements
for high quality vocational education providers to mirror those
enjoyed by universities. Under current arrangements high
quality institutes such as Holmesglen are not considered by
students or agents because accessing education through
any provider that does not enjoy the visa arrangements that
universities have is regarded as too difficult.
I am indebted to my Board, the management and staff for
their interest and involvement with the Institute and the
loyalty they so willingly provide. It is with regret that I have
to record the retirement of Ms Anabel Shears Carter and Mr
Bryan Waters from the Board. Both members have made a
wonderful contribution to the Board and have served not only
as Board directors, but also as Chairs of the Institute’s Board
Committees. Throughout 2012, the Board, management
and staff have continued to work together in a positive and
focussed manner and I am sure this spirit of co-operation will
continue in future years. My deep gratitude is extended to all
of them, and in particular, to the Institute’s Chief Executive,
Mr Bruce Mackenzie, for their unqualified support, enthusiasm
and commitment.
We expect that the Commonwealth Government will continue
to support higher education, especially for students moving
from VET Studies to higher education.
Internally, the Institute has had a very successful year with
enrolments close to record levels and new partnerships
emerging. The City campus after a slow start is meeting its
goals in alternative educational delivery. We will once again
have a healthy financial surplus. Our financial performance
which for twenty nine out of thirty years has been in
surplus (excluding capital) is a testament to the Institute’s
management capacity and our enterprising nature. There
would be very few TAFE organisations that would have the
financial record that characterises Holmesglen’s performance
over such a long period. Our surpluses benefit the community
and students in the quality of the learning environment which
students enjoy as a result of our investment in infrastructure
and services. Our association with the Ministry of Housing
and the Foyer Project for homeless youth will almost certainly
be an important access program for youth, especially as it will
link into our nationally recognised vocational college programs.
Jonathan Forster
Chair
Holmesglen Board
3
INSTITUTE BOARD
The Board strives to ensure that Holmesglen is a market
leader in meeting the education and training needs of the
community, industry and workplace.
The Institute Board is the governing body of the Institute.
Directors of the Board are representative of industry and
community and appointed for a variety of reasons, including
specialist knowledge and community service.
The Board is committed to the adoption of ethical conduct in all
areas of its responsibilities. Its members are bound to the duties
and code of conduct detailed in the Board Members Handbook. In
general, members must avoid conflict of interest and act in good
faith in the interest of Holmesglen Institute of TAFE.
There is no comprehensive legal Code of Conduct for Board
members. In 2012 their duties and liabilities arise under
common law, the Vocational Education and Training Act 1990
(as amended), the Education and Training Reform Act (2006)
and other statutes and regulations which affect TAFE.
The Board of Holmesglen Institute of TAFE was originally
incorporated under the Post-Secondary Education Act 1978
by an Order in Council on 5 January 1982 and was made
responsible to the Minister for Employment, Post-Secondary
Education and Training.
On recommendations of the Minister for Tertiary Education
and Training, a new constitution for the Institute was approved
by the Governor-in-Council on 31 January 1995, under Section
24 of the Vocational Education and Training Act 1990. Without
effect on continuity of directives, the new constitution came
into effect on 1 April 1995. On 9 October, 2007 a new
Constitution was implemented.
The Board objectives are to:
• Establish goals for the Institute within the context of
national and state policy and management frameworks.
• Provide quality tertiary and higher education, adult,
community and further education programs and services
which promote the competitiveness of industry, enhance
the opportunities for individuals and serve the needs of the
general community.
• Manage and control the Institute efficiently and effectively
to optimise the efficient use of resources.
• Be the market leader in meeting the education and training
needs of the community, industry and workplace.
The role of the Holmesglen Institute Board is set out in the
Constitution and the Strategic Plan provides further strategies
and directions. The Strategic Plan is reviewed each year to
ensure that the strategies contained within the plan are in
accord with the external environment. In 2012, the Board
developed a new Institute Strategic Plan (2013-2017).
In October 2012, all Board members undertook a full day
corporate improvement program held at the Rural Learning
Centre, Eildon. The workshop included considering and
finalising the Institute’s Strategic Plan for 2013-2017.
4
Board Members (Directors) in 2012:
•
•
•
•
•
Mr Jonathan Forster (President and Chair of Institute Board)
Ms Anabel Shears Carter OAM (Deputy Chair)
Emeritus Professsor Peter Darvall AO
Mr John Dixon
Ms Rachel Engelhardt (Elected Student Representative for
2012 Year)
• Mr Roger Leeming
• Ms Meaghan Leith (Elected Staff Representative
commencing October 2012)
• Mr Mark Leopold (Elected Staff Representative term expired
in September 2012)
• Mr Peter Lewinsky
• Mr Neil Lucas
• Mr Peter Picking
• Ms Rebecca Prior
• Dr Peter Veenker
• Ms Catherine Walsh
• Mr Bryan Waters
• Mr Bruce Mackenzie PSM (Chief Executive)
Qualifications of individual board members are available from
the office of the Chief Executive upon request.
Committees
To assist the Board in meeting its constitutional duties, there
are seven sub-committees. These are:
•
•
•
•
•
•
•
Building and Planning Committee
Finance Committee
Audit and Risk Management Committee
Investment Committee
Business Development & Projects Committee
Remuneration Committee
Higher Education Academic Committee
Each committee has an Executive Officer drawn from the
management group. In addition, a Board Executive acts on
behalf of the full Board between meetings. Executive officers
and Directorate staff attend all Board meetings. The President
and Chief Executive are ex-officio members of all Board
Committees. A member of the Institute Committee may not
necessarily be a Board member.
The Institute has implemented procedures which require
relevant officers to complete statements of pecuniary interest.
Such statements have been duly completed.
Building and Planning Committee
The Building and Planning Committee’s function is to
recommend to the Board facility and infrastructure plans for
Institute building works. It oversees the construction of these
projects as well as the overall maintenance of all Institute
buildings.
VOCATIONAL AND HIGHER EDUCATION INSTITUTE BOARD 2012
Finance Committee
The prime function of the Finance Committee is to ensure that
the Institute’s financial policies are executed in accordance
with the government’s Financial Reporting Framework.
Audit and Risk Management Committee
The Audit and Risk Management Committee’s primary
responsibility relates to the adequacy of financial reporting,
risk management and internal control.
Remuneration Committee
The function of this Committee is to ensure that there
is a consistent and rigorous approach for establishing,
implementing and maintaining executive remuneration in the
Institute. The Committee also reviews policies and practices
in relation to conditions of employment for all employees and
where appropriate, make recommendations to the Institute
Board. This Committee met once in 2012.
Higher Education Academic Committee
The Higher Education Academic Committee is responsible
for oversight of all higher education programs conducted at
Holmesglen Institute, that is, undergraduate degrees and
graduate certificates (higher education).
Investment Committee
The function of this Committee is to oversee and review the
Institute’s investments.
Business Development and Projects Committee
The function of the Business Development Committee is to
consider potential business opportunities to be put forward to
the Institute Board.
The Board met eight times in 2012. The following highlights
the number of Board and Committee meetings Board
members attended during the year during the year.
Attendance at Board and Committees in 2012
Board members
Board
Meeting
Building
&
Planning
Finance
Audit & Risk
Management
Investment
Higher
Education
Academic
Business
Development
& Projects
Remuneration
Jonathan Forster
(Board Chair)
7/8
-
5/8
2/4
4/4
-
-
1/1
Anabel Shears Carter OAM
(Deputy Chair)
8/8
-
-
-
4/4
-
2/2
1/1
Emeritus Professor Peter
Darvall AO
7/8
-
-
-
-
3/3
-
-
John Dixon
8/8
-
-
-
4/4
-
-
-
Rachel Engelhardt (Elected
Student Representative for
2012)
5/7
-
-
-
-
-
-
-
Roger Leeming
6/8
6/6
-
-
-
-
-
-
Meaghan Leith (Elected
Staff Representative
commenced Oct 2012)
3/3
-
-
-
-
-
-
-
Mark Leopold (Elected Staff
Representative term expiry
Sept 2012)
5/5
-
-
-
-
-
-
-
Peter Lewinsky
(from March 2012)
6/7
-
6/8
3/4
-
-
-
-
Neil Lucas
8/8
-
-
4/4
-
2/2
-
Peter Picking
7/8
6/6
-
-
-
-
-
-
Rebecca Prior
(from March 2012)
6/7
5/6
-
-
-
-
-
-
Dr Peter Veenker
6/8
-
5/8
4/4
-
-
-
-
Catherine Walsh
8/8
-
-
-
-
2/3
2/2
-
Bryan Waters
7/8
-
8/8
4/4
4/4
-
-
-
Bruce Mackenzie
7/8
4/6
6/8
-
4/4
3/3
2/2
-
5
SENIOR STAFF
Bruce
Prescott
Executive Director
(Facilities and
Information Services)
Frank
Virik
Executive Director
(Student and Campus
Services)
Bruce
Mackenzie
PSM
Chief Executive
Mary
Faraone
Executive Director
(Educational
Development and
Design)
David
Endean
Director
(International
Centre)
Enzo
Spangher
Corporate Services
Manager
Responsibility for the
planning co-ordination
and development
of facilities, minor
works, technology
infrastructure, student
management, property
services and security.
Responsibility for
student services,
media services and
management of
Moorabbin campus.
Responsibility
for the effective
and efficient
management of
the Institute.
Responsibility for
the management of
program development
and delivery at the
Institute to ensure the
needs of government,
industry and the wider
community are met.
Responsibility
for international
operations, projects
and the International
Centre.
Responsibility for the
management of the
Institute’s corporate
services, financial
resources and the
development of
strategies to optimise
the provision and use
of funds in accordance
with Institute objectives
and government
requirements.
The six senior staff of the Institute are Chief Executive, Executive Director (Educational Development and Design), Corporate Services
Manager, Executive Director (Operations), Executive Director (Information Services), and Director, International Programs and Projects.
6
VOCATIONAL AND HIGHER EDUCATION SENIOR STAFF AND ORGANISATIONAL CHART 2012
ORGANISATIONAL CHART
Board
Building
and Planning
Committee
Finance
Committee
Business
Development
Committee
Remuneration
Committee
Investment
Committee
Audit and Risk
Management
Committee
Higher
Education
Academic
Committee
Bruce
Mackenzie
Chief
Executive
Mary
Faraone
Executive Director
Educational Development
and Design
-- Business Development
-- Higher Education
Support Unit
-- Corporate Improvement
Unit/Learning Innovation
& Development
-- Planning Office
Enzo
Spangher
Corporate Services
Manager
-- Finance
-- Human Resources
-- Purchasing
Bruce
Prescott
Executive Director
Facilities and
Information Services
-- Facilities Planning and
Development
-- Property Services
-- Waverley Campus
Facilities Management
-- Information Systems and
Registrar
David
Endean
Director
-- Off shore programs
-- International Student
Programs
Frank
Virik
Executive Director
Student and Campus
Services
-- Learning Commons
-- Media Services
-- Student Services
-- Major Projects (I.T.)
Teaching Faculties:
-- Building, Construction &
Architectural Design
-- Business & Finance
-- Design, Arts & Science
-- Education, Service Skills
& Environment
-- Engineering, Electrical &
Information Technology
-- Health Science &
Community Studies
-- Language & Vocational
Pathways
-- National Training
Solutions
Avril
Reagon
Associate Director
Corporate
Communications and
Business Enterprises
-- Marketing
-- Community and Industry
Short Courses
-- Hemisphere Hotel &
Conference Centre
-- Conference Centre/
Corporate Suites
-- Rural Learning Centre
-- Corporate Art
-- Graduate Employment
Services
7
Report of operations
Education and Training Output
International Projects
The last five years has seen the Institute record significant
training output with a record achievement of 13.0 million
student contact hours in 2008, 13.8 million in 2009,
13.6 million in 2010, 12.5 million in 2011, and 12.9 million
in 2012. Whilst there was a decline of 28.7% in international
student activity and 18.8% domestic fee for service activity in
2012, the Institute increased its state government subsidised
training output by 19.2% from 2011.
The Institute continued its successful international project
work in 2012 which included:
• Continuation of the project in Qatar auspicing training for
apprentices and recruiting trainers for Qatar Petroleum
• Second full year of operation of the three year project
with the Qatar Central Bank to develop and establish a
vocational senior secondary boys’ school for the banking
and finance sector.
• Successful implementation of a project in India with a
large construction and infrastructure company to train its
construction workers and a specialist group of master
trainers. The Institute was invited to headline a conference
in Perth in July to outline its work in India in conjunction
with its private company partner, GMR.
• Continuation of a strengthening project in Mongolia to assist
with the development of vocational education and training.
Vocational Education
Vocational education activity in 2012 increased by 3.1%
from 2011 and includes the increase of state government
subsidised training activity. The key industry areas for
vocational training at the Institute in 2012 were building and
construction, adult community education (including language
and literacy and general preparatory programs), community
services and health and business services. The majority of
training activity was at the Certificate III level, followed by
Certificate IV and Diploma.
Holmesglen was one of three finalists for the Australian
International Training Provider of the Year award.
Facilities
The new building on Warrigal Road at the Chadstone campus
funded by the Board of the Institute was completed. The
facility includes offices and reception for the International
Centre, oral health facilities and offices and facilities for the
built environment higher education programs.
The Module Load Completion Rate for 2012 was 80%.
Operational Objectives
Higher Education
The Institute continued to develop its capacity and expertise
in higher education through a number of existing and new
initiatives; in particular the agreement with the University of
Canberra to deliver courses in Melbourne through Holmesglen
is an exciting new chapter in higher education at Holmesglen.
The programs are planned to commence in February 2013.
Other key achievements for 2012 included:
• Delivery of Holmesglen higher education programs at
Metropolitan South Institute of TAFE in Queensland.
• Successful Higher Education Conference held in June 2012
• Inaugural Mixed Sector Symposium which attracted over
120 participants from across the sector.
• Holmesglen staff led a half day workshop on higher
education at the TDA Conference in Perth.
Operational objectives were set out in the Institute’s
Performance Agreement with the Victorian Skills Commission.
All reports were provided by the due date. In 2012 the
Institute achieved the objectives documented in the
performance agreement with the Victorian Skills Commission.
Key Achievements
Holmesglen/University of Canberra Alliance
Holmesglen and the University of Canberra are pleased to
develop an alliance that is potentially ground breaking in its
scope and intent.
Foyer at Waverley
The Institute signed an agreement with the Victorian Ministry
of Housing for the establishment of a Foyer Youth Model at its
Waverley campus. This is an exciting project which will have
a positive impact for young homeless in the community and
connect them with educational opportunities at Holmesglen.
Strategic Plan 2013 - 2017
Holmesglen developed its new Strategic Plan 2013 - 2017 which
outlines its vision and objectives for the next five year period.
8
VOCATIONAL AND HIGHER EDUCATION REPORT OF OPERATIONS
Financial Report of Operations
Operating revenue
Operating expenses
Net result
2008
$’000
2009
$’000
2010
$’000
2011
$’000
2012
$’000
157,675
162,373
174,171
173,013
(163,754)
(153,316)
(159,816)
(159,525)
(162,872)
(6,079)
9,057
14,355
13,488
4,622
167,494
There was no significant change in the financial position for the Institute for the year 2012.
Consultancies for 2012
There were six consultancies during 2012 costing in excess of $10,000.
The schedule detailed below is a brief summary of the project involved.
Consultant Engaged
Summary of Project
Total Fee for 2012
Ian P. Predl
Strategic Directions Document
$10,000
JKS Consulting
Design and Facilitation of Strategic Planning
$31,252
Charter Kreck Cramer
Valuation of Land and Buildings
$29,900
Department of Sustainability and Environment
Valuation of part of Moorabbin Campus
$18,000
Directory Concept
Advice on Environment Issues
$37,800
Rann Property
Property valuation
$11,500
There were also ten consultancies during 2012 costing less than $10,000.
The total cost of these projects was $28,682.
Information prepared for the Report of Operations has been prepared and verified by
Mr Bruce Mackenzie, PSM.
Chief Executive
9
Excellence
We strive to achieve best
practice in all that we do.
10
VOCATIONAL AND HIGHER EDUCATION EXCELLENCE
STUDENT AWARDS
Faculty of Building Construction & Architectural Design
Faculty of Health Science, Community Studies
David Pearson
• The Alfred Atherton Educational Award
Philippa Allen, Andrew Douglas, Louis Palmer and Tom
Stone
• The Duke of Edinburgh’s Award (The International Award of
Youth Development)- Bronze
Heidi Hanlon
• The Albert Smith Award - Master Plumbers and Mechanical
Services Association’s 105th Gold Medal and Training
Awards
Christopher Morrison
• The Frank Maskell Award - Master Plumbers and Mechanical
Services Association’s 105th Gold Medal and Training
Awards
Gareth Hughes
• NA Smith Encouragement Award - Master Plumbers and
Mechanical Services Association’s 105th Gold Medal and
Training Awards
Christopher Gordon
• HCAA Encouragement Award- Master Plumbers and
Mechanical Services Association’s 105th Gold Medal and
Training Awards
Christopher Morrison
• The Andrew Letten Gold Medal Award - Master Plumbers
and Mechanical Services Association’s 105th Gold Medal
and Training Awards
Michael Dixon
• Bursary Scholarship - Monash University
Munir Abasi
• 2012 Victorian Furnishing Industry training Awards
Certificate III in Upholstery - 2012 Furniture Industry
Association of Australia
Danielle Burden, Julian Khan and Caitlyn Alger
• The Duke of Edinburgh’s Award (The International Award of
Youth Development) - Silver
Nicola Fisher
• ANF Student Nursing Awards (Diploma) - Australian Nursing
Federation
Heather Finlay
• ANF Student Nursing Awards (Bachelor) - Australian Nursing
Federation
Allyce Ryan
• VETiS Certificate Award - BGKLLEN Applied Learning Awards
Faculty of Education, Services and Environment
Frances Della
Hospitality, Cookery & Bakery
• VET in Schools Certificate II in Hospitality Award - Glen Eira
& Kingston region “Applied Learning Awards”
Mathew James
Horticulture & Environment
• Landscape Apprentice of the Year - Landscaping Victoria
Maria Limanis
Tourism & Events
• Glen Eira & Kingston region “Applied Learning Awards”
Michael Douek
• VCE Australian Defence Force scholarship
Susan Beer
Certificate III in Production Upholstery - 2012 Furniture
Industry Association of Australia
Minhan Cho
Certificate IV in Furniture Design and Technology - 2012
Furniture Industry Association of Australia
Trevor Bauer
• 2012 Victorian Furnishing Industry training Awards Diploma
of Furniture Design and Technology - 2012 Furniture
Industry Association of Australia
11
Awards festival 2012
Holmesglen provides an environment that encourages scholarship, confidence, motivation and pride.
Holmesglen saluted the achievement of students and staff at the Holmesglen Awards Festival held throughout the Institute for
two weeks in May and culminating in an Awards Dinner attended by significant industry partners.
Southern Metropolitan Cemeteries Trust, Warner’s Nurseries and other supportive industry partners were formally recognised for
the significant contribution they made to the success of Holmesglen in 2011.
Scott Barnsley
2011 Outstanding
Diploma Student
Jake Bowman
2011 Outstanding
VCAL Student
Heidi Hanlon
2011 Outstanding
Apprentice
Mathew Jarvis
2011 Outstanding Higher
Education Student
Jamie Bailey
2011 Outstanding
Diploma Student
Minhan Cho (Neo)
2011 Outstanding
Certificate Student
12
Melanie Edwards
Special Encouragement
Award
Victoria Machar Ajoung
Award
Amy Hird
Award
Lisa Johnstone
2011 Administrative
Excellence Award
Karanne Sawkins
2011 Administrative
Excellence Award
Lisa Harris
2011 Educational
Excellence Award
13
CORPORATE RESPONSIBILITY
Past Employees Association
The Past Employees Association celebrated its fifth year
of operation and continued to be an active and important
part of the Institute. In March, the association joined in the
celebration of the 30th Anniversary of Holmesglen with over
70 past employees attending the institute-wide celebration.
The committee of the Past Employees Association (PEA)
comprises past and current employees, a blend that ensures
the ongoing vitality of the group and enables a link to the
present projects, strategies and developments at the Institute.
In October the PEA held a function at the Conference Centre at
Chadstone which also incorporated a tour of the new six storey
landmark building on Warrigal Road. It was pleasing to note
that past long-standing board members also attended this
event. The feedback from past employees was very positive
about both the new facilities at the Chadstone campus as well
as the ongoing support by the Institute of the Past Employees
Association. As customary, members made donations to the
fund that will enable the PEA to provide a special award and
prize for the Vocational College student deemed to be the
“most improved student”.
Bruce Mackenzie addressed the group at this event and
outlined Holmesglen’s new initiatives and the challenges
facing the Institute in 2013. The committee also took
the opportunity to thank Chrissie Coutsourelous for her
contribution to the PEA over the past five years as she
resigned from the committee.
Website presence
A selection of art works from the Holmesglen Collection was
placed on the Institute website, under Corporate Information.
Reproductions of the collection items, along with a brief
introduction are now featured.
Publications
Two full colour publications about the Holmesglen Collection
of Contemporary Art were produced. The first, an eight
page brochure, focused on art at the Rural Learning Centre.
The second featured a selection of 25 art works from the
collection.
Holmesglen Foundation
The Holmesglen Foundation was established with a view to
support the activities of students and staff who contribute to
the ongoing development of the Institute.
The Foundation has a number of fundraising activities
including the Holmesglen Golf Day which is run as part of
the Holmesglen Awards Festival. In 2012 over $50,000 was
raised through corporate sponsorship. This is a testament
to the excellent work of the Holmesglen staff organising
committee and the high level of commitment from our external
suppliers.
In 2012 the Charitable Fund contributed to sending hospitality
students Liam von Grondelle and Callum Nugent to undertake
internships at two renowned restaurants in Spain. Liam
and Callum are the second and third hospitality students
sponsored to experience this wonderful opportunity.
Corporate Art Project
Ongoing acquisition of new artworks has consolidated
the Holmesglen collection into a notable group of over 50
works. Now in its eighth year, the Holmesglen Collection
has developed into a quality representation of contemporary
Australian art practice while enhancing the cultural amenity of
the Institute. Holmesglen continues to support contemporary
Australian artists while providing a unique opportunity for
debate about and appreciation of contemporary Australian art
in a vocational education setting.
Public lecture series
Artists Simon Terrill and Anne Marie May and stop motion
animator, Darren Burgess provided free public lectures to
enthusiastic audiences at the Chadstone campus throughout
the year. These lunchtime talks provided the general public,
staff and students with the opportunity to actively participate
in the art project and to discuss contemporary Australian art
and issues surrounding its production and consumption, in an
informal environment on campus.
14
A new sponsorship activity for the Fund was presented by a
group of eighteen sport and recreation students who planned
to undertake a two week coaching clinic with schools in Fiji.
The group worked tirelessly to raise funds to enable this
activity and applied for the Fund to contribute as well. The trip
was a resounding success with school students, teachers and
principals in Fiji providing excellent feedback on the programs
delivered. Over 2,500 students participated in the clinics and
it is planned for this activity to become an ongoing part of the
diploma curriculum.
In addition, the Charitable Fund continued to contribute a
subsidy for Holmesglen students to participate in outdoor
recreation and competency based learning camps at the
Rural Learning Centre (RLC) in Eildon. The RLC provides
Holmesglen students with a unique learning environment and
aims to encourage the development of team building and an
appreciation of the natural environment to all who participate.
Environmental Sustainability
Holmesglen Institute is committed to the philosophy of
environmental sustainability incorporating environmental
principles in project specifications, purchasing of
consumables, and facility management across the Institute.
The Institute Board has endorsed a comprehensive
Sustainability Policy.
The Environmental Sustainability Committee, established
in 2006 to facilitate the implementation of environmental
principles at Holmesglen, meets four times per year and
assists with issues of regulatory compliance, continual
improvement and assessment of new and innovative ideas.
The committee reviews the following areas on an ongoing basis:
• Energy Management
• Water Management
• Waste Management
• Purchasing
• Vehicle Fleet Management
• Facility Development
Energy Management
• A Building Automation System (BAS) is in operation across all
three main campuses and controls lighting and air-conditioning
at designated times for saving in energy usage, maintenance,
wear and tear of equipment and cleaning costs.
• Monitoring systems for energy and water are gradually
being installed across all campuses. The usage data which
will assist with planning and operations decisions and
mandatory government reporting.
• Automated lighting sensors designed to save energy are
fitted to some buildings, while other buildings run on a
reduced power supply. Currently there are two options for
lighting in our buildings. Some have sensors which turn the
lights off when no movement is detected for a set period of
time. New and refurbished areas are fitted with T5 energy
saving light fittings.
• A PC Power Down system has been implemented with
student and staff computers configured to automatically
power down outside working hours.
Water Management
• Waterless urinals are now in use across three campuses.
• Dual flushing toilets are installed as facilities are upgraded.
All new building works have the Dual Flush system in line
with current Building Regulations.
• The Water Wise Planting program is in place across
campuses. This is an ongoing project and includes
replacement of trees which have become distressed due to
lack of moisture.
• Water harvesting is now being carried out on all campuses.
Over one million litres of tank water is now available for
irrigation and in some cases, toilet flushing.
Waste Management
Waste Streaming has been implemented in a range of areas
including:
• Installation of combination rubbish and co-mingle bins in all
public areas across all campuses. Staff rooms have been
supplied with a pair of waste and recycling bins.
• Offices have access to paper/cardboard and toner cartridge
recycling.
• Segregation of cardboard packaging from non recyclable
materials. All waste packaging and decommissioned
computers are removed by the contractor and recycled
appropriately.
• Installation of lidded bins at the Chadstone campus
facilitated uncontaminated waste streaming of metals,
timber and glass and increased the amount of waste
products to be recycled.
• All cooking oil at the Moorabbin hospitality facility is sold on
for recycling.
• Chipping of garden waste for return as mulch is now carried
out by the Holmesglen Gardening Service.
Purchasing
• Purchase of environmentally friendly consumables is
encouraged. The Institute participates in a carbon offset
program with Virgin Australia airlines for Institute travel.
• Recycled paper is provided for the Multi Function Devices
throughout the Institute.
Vehicle Management
• Reduced petrol consumption and carbon footprint have
been achieved with an amendment to the Institute vehicle
purchasing policy to reflect the preferred purchase of four
cylinder fleet cars. A number of hybrid and diesel powered
cars have also been trialled in the vehicle fleet.
Facility Development
• An agro forestry development on the rural campus has
been completed and these trees have grown substantially
since the drought ended. An annual maintenance regime is
carried out.
• Holmesglen has committed to the Greener Government
Buildings initiative and a detailed facility study was
commenced in late 2012.
• Of particular note was the achievement of a 5 Star rating by
the Green Building Council of Australia for each of the three
new major buildings.
15
Holmesglen’s
30th Anniversary
In 2012 Holmesglen celebrated its 30th Anniversary. From
humble beginnings in 1982 when the Institute started out
with a range of derelict industrial buildings at the Chadstone
campus, Holmesglen has grown to achieve the status of
Victoria’s largest TAFE.
Today, Holmesglen has three large metropolitan campuses
as well as a new site on St Kilda Road and a national training
centre at Bulli Street Moorabbin. The Rural Learning Centre
at Eildon completes a diverse suite of Holmesglen campus
purposes and locations.
Celebrations included a range of special activities for students
as part of the O-Week activities at each campus in February
2012. Students enjoyed special breakfasts, entertainment and
free commemorative giveaways.
In March, a 30th Anniversary Party was held for 800 present
and past staff, Board members and industry guests at
the Caulfield Race Course. The eighties themed event (as
Holmesglen was born in the Eighties) highlights included a
wonderful eight piece band, magnificent floral displays provided
by the Horticulture Department and edible cake centrepieces
for tables by the Hospitality students. An extensive compilation
of Holmesglen historical images was produced by the Media
Services Department and screened throughout the venue.
Throughout the year, each campus boasted banners and
signage celebrating the “30 years of Excellence” and an
impressive large scale photographic display tracking the major
achievements for Holmesglen over the past thirty years.
Holmesglen has consistently grown and strengthened its
position, nationally and internationally, in the vocational and
higher education sector. The stability and strength of its
current status is an indicator that there are many more great
achievements ahead for this dynamic institute.
16
Jonathan Forster
Chair, Holmesglen Board
17
SCHOLARSHIP
We support freedom in
intellectual inquiry and
creative expression
and encourage the
development of
knowledge through
scholarly activities.
18
VOCATIONAL AND HIGHER EDUCATION SCHOLARSHIP
Higher Education
Throughout 2012, the Institute continued its commitment
to the consolidation of its higher education expertise and
capacity by refining and developing new products.
The Higher Education Support Unit (HESU), established
to support students, staff, management and external
stakeholders, continued in 2012 with the accreditation,
implementation and recognition of higher education courses
throughout the institution. This included the smooth delivery of
Holmesglen degrees in Queensland at the Mt Gravatt campus
of the Metropolitan Institute of TAFE.
HESU continued to provide support for the faculties by
providing a range of strategies including internal and cross
sector conferences, network meetings, the development
of online material and support networks, the facilitation of
communities of practice and the provision of research in
relevant areas.
Key Achievements
• Delivery of the second Holmesglen Higher Education
Conference.
• Established a network across the five TAFEs delivering
higher education and the development of two important
scholarly events on their behalf.
• The development of the Mixed Sector Symposium and the
Gareth Parry Workshop, developed, designed and managed
by the Higher Education Support Unit.
• Development of two new degrees: the Bachelor of Sports
Media and the Bachelor of Landscape Architecture.
• Development of three Masters programs, due for
submission to TEQSA beginning 2013.
• Submission for the re-accreditation of the Bachelor of
Screen Production and Bachelor of Nursing. As well as the
submission for re-registration with the Australian Nursing
and Midwifery Accreditation Council.
• The development of a stronger Higher Education presence
on to the Holmesglen website and intranet site.
• Established a Holmesglen Ethics Review Panel including all
the appropriate documentation and resources.
• Successfully implemented the delivery of degree programs
in an affiliate partnership arrangement in Queensland.
• Developed a Work Integrated Learning community of
practice.
• Initiated a range of consistent structures and templates
across all degree programs and faculties.
• Developed, reviewed and made recommendations in regard
to a range of higher education policies and procedures,
including students at risk, lost exam process, adjunct
professorial positions, exam code of conduct, faculty
academic committee and ethics panel terms of reference.
SPEAKING ENGAGEMENTS
Name of Staff
Member
Title of Paper or Presentation
Venue
Date of
Presentation
Bruce Mackenzie PSM
Presenter (Speaker)
For Metropolitan South Institute of TAFE Institute
Council – Strategic Workshop in Queensland
Title of Paper – “The Victorian Experience”
Hidden Vale Retreat Brisbane
10 February
Panel Presenter
At the 2012 Tertiary Education Congress
Title of Paper – “An Integrated Tertiary Sector”
Sydney Convention Centre and
Exhibition Centre, Darling Harbour
31 May
Panel Presenter
For CPA Australia International Forum for
Academics
Title of Paper – “Pathways to the Profession –
What Works, What Will We Try Next?”
Crown Promenade, Melbourne
29 June
Joint Presenter
(Speaker)
Australia India Skills Conference
Title of Paper – “GMR/Holmesglen Partnership –
Partners for Prosperity”
Perth
10 July
Panel Presenter
“East Meets West” – 2012 TDA National
Conference
Title of Paper “What could a Post-Secondary
Education System look like?”
Hyatt Regency, Perth
6 - 7 September
Presenter (Speaker)
Ellucian User Group Conference
Title of Paper – “The Future of TAFE in Australia”
Holmesglen Hemisphere Conference
Centre, Moorabbin (in Melbourne)
25 September
Panel Presenter
Ellucian Live Middle East Conference
Title of Paper – “Vocational Education for a
New Arab World – some observations about
Vocational Education in Australia and some
implications for the Arab world”
Abu Dhabi, UAE
4 - 6 December
19
SPEAKING ENGAGEMENTS
Name of Staff
Member
Venue
Date / Month of
Presentation
18 October
Shazia Bano
Garment sizing and fit
National Gallery of Victoria (Federation
Square)
Dr Sue Thomas
Clothes in the workplace
ABC 774, Overnights
20 March
Dr Sue Thomas
Where is the context for faith in design for
sustainability?
Commune 2012,RMIT Brunswick
18 July
Dr Sue Thomas
Empathy as practice; ethics as a design tool
Institute of Fashion & Textiles, Hong
Kong Polytechnic University
14 September
Malcolm McDowell &
Dr Sue Thomas
Apparel Engineering – the role of a technical
designer
Melbourne Spring Fashion Week
5 September
Dr Sue Thomas
Judge for costume prize
The Scarlet Stiletto Awards – Sisters In
Crime Australia
23 November
Faculty of Education, Services, Skills & Environment
Dr Carol Carter
“Dialogical Spaces and Cultural Conversations:
Examining oral art forms to support drama
pedagogy in teacher education”
7th International Drama in Education
Institute (IDIERI) Research Conference,
Mary Immaculate College, University of
Limerick, Ireland.
10 - 15 July
Dr Estelle Irving
“Quality Education for Teachers & Students”
Interview conducted with Sue Goss
of The Age, for inclusion as an article
in the MY Career supplement of the
Saturday Age.
1 September
Dr Estelle Irving
“Horses for courses or courses for horses?
Questions and issues arising from diploma
holders transitioning in to the Bachelor of Early
Childhood Education at Holmesglen”
LH Martin Institute Conference, RMIT
Melbourne. “AQFs 5 and 6: Debating
the Future of Mid Level Qualifications in
Australia”.
25 October
Dr Carol Carter
Mary Hughes
The Role of practicum in pre service teacher
education
Holmesglen Teaching & Learning
Showcase; Hemisphere Conference
Centre, Moorabbin.
4 December
Composites Australia Annual
Conference - Sydney
March
Faculty of Engineering, Electrical & Information Technology
Donald Elliott
Training Composites: Project Driven Learning
Faculty of Health Science & Community Studies
Leone English
Co-presented: 90 min symposium titled:
Interprofessional learning, working and
assessment: can we really get there?” with
Jolly, B., Hylin, U., Ponzer, S.,
14th Ottawa Conference: Assessment
of Competence in Medicine and the
Healthcare Professions, Kuala Lumpur,
Malaysia
March
Andree Gamble
Jennifer Jennings
Co-presented 2.5 hr workshop titled:
“From Learning Objectives to Outcomes”
Laerdal SUN Conference
28 - 30 May
Gabrielle Koutoukidis
Session presentation: Scope of Practice of
Enrolled Nurses
Knox Private Hospital, Wantirna
15 June
Louise Alexander
Elma Avdi
Paper presentation titled: “Communication Skills
in Undergraduate Nursing Students”
COMET, 2012
Trondheim, Norway
28 - 30 June
Enrolled Nurses
Como Private Hospital
26 July
Leone English
Presenter: paper titled: “The Victorian
Simulation Allance – a model for collaboration,
professional development and resource
sharing”,
SimHealth 2012 Conference, Sydney.
September
Leone English
Opening address
Victorian Simulation Alliance – Regional
Symposium, Traralgon, Gippsland
September
Leone English
Invited speaker – Simulation Summit for
Australian Health Deans: “Is there a
sustainable model for simulation?”
Hilton Hotel, Sydney
10 September
20
VOCATIONAL AND HIGHER EDUCATION SCHOLARSHIP
Name of Staff
Member
Venue
Date / Month of
Presentation
Faculty of Health Science & Community Studies (Continued)
Enrolled Nurses
Holmesglen – Healthscope National
Managers
12 September
Enrolled Nurses
Royal Children’s Hospital
17 September
Paper presentation:”The importance of intraprofessional understanding between registered
and enrolled nurses”.
Ensuring quality and standards for
Clinical Placements in Nursing and
Midwifery. Criterion Conferences
Mercure Brisbane.
26 - 27 September
Margaret Kerr
Paper presentation: “Introducing CBT to
Laboratory Technician Training in Mongolia”
Ulaanbataar, Mongolia
5 October
Enrolled Nurses
The Geelong Clinic
Knox Private Hospital, Wantirna
24 October
25 October
Leone English
Invited speaker and plenary panel member
– “Enhancing Efficiency and effectiveness of
Learning through Simulation Health”
Workforce Efficiency in Healthcare
Conference, Melbourne,
1 November
John Elias
Paper presentation: “Efficacy of Bridging
Gareth Parry Workshop
Holmesglen
12 November
Courses into Nursing”
Joseph Cross
Paper presentation: “Second Life as a Teaching
Tool”
Converge eLearning Conference,
Bell City Preston
22 November
Joseph Cross
Paper presentation: “Educational barcoding 1:
extended investigations”
GTAC, Flemington Rd, Parkville
4 December
Presentation to Accreditation Managers:
“Training Package & Diploma of Nursing”
Australian Nursing & Midwifery
Accreditation Council, Canberra
6 December
Transforming the skills workforce towards a
higher income economy
Putra Word Trade Centre,
Kuala Lumpur
9 - 10 July
Zita Youens
3rd Annual Learning Commons Development
and Design Forum
Title of Paper – “The Holmesglen Learning
Commons for diverse student populations”
Sydney Harbour Marriott
26 March
Stephen Harrison
COSA 2012 [Customers of SirsiDynix
Australasia] Conference. Title of paper: “Getting
the best out of Symphony reports”
Stamford Plaza, Adelaide
18 October
Rhonda Edwards
Learning Commons
21
ACCESS
We offer relevant vocational
and tertiary education
programs and services for all
individuals through a variety
of teaching modes, enhanced
by relationships with other
education institutions and
key industries.
22
VOCATIONAL AND HIGHER EDUCATION ACCESS
FACULTY REPORTS
FACULTY OF BUILDING CONSTRUCTION
& ARCHITECTURAL DESIGN
The Faculty of Building Construction and Architectural
Design (BCAD) is comprised of the following departments
and program areas: Advanced Building Technology; the Built
Environment Degree Program; Carpentry, Glass and Glazing
Department; Plumbing and Construction Finishing Department;
and the Trowel Trades Department.
The Faculty offers a diversity of programs in VET and higher
education including: pre-apprenticeships, apprenticeships and
advanced diploma level programs, and degree studies in the
built environment.
BCAD works closely with companies and industry
organisations in the development of industry specific training
programs and assists community organisations through a
range of building project work.
Key Achievements
• Transferred the online learning and assessment program for
painting and roof tiling apprentices to the Moodle platform.
• Extended and further consolidated the onsite training and
assessment program in bricklaying, carpentry, glazing, wall
and ceiling lining, wall and floor tiling, plumbing, painting
and roof tiling.
• Continued delivery of the alternative pathways program
for the Advanced Diploma of Building Surveying. Students
placed with industry combined their classroom based
learning at the Institute with work based projects and
assessments conducted in consultation with the host
employer. Many of students have gained employment in
their chosen field as a result of this program.
• Accreditation and commencement of Graduate Diplomas
in Construction Management and Economics, Building
Surveying, and Facilities Management.
• Conducted ‘Building Design Presentation Evenings’, in
co-operation with industry and professional associations,
to showcase the work of graduating Advanced Diploma
of Building Design (Architectural) students to an industry
audience.
• Trowel Trades Department visited numerous secondary
schools as part of a move towards promoting awareness
of trowel trades among school students and careers
counsellors.
• Re-signed a Memorandum of Understanding with the Air
Conditioning and Mechanical Contractors’ Association
(AMCA). Outcomes included the consolidation of a Centre
of Excellence, refurbishment of the BCAD Air Conditioning
Laboratory and extension of staff development activities.
In addition, Master classes were conducted by industry
specialists for Holmesglen teachers and apprentices.
• Implemented the provisions of the Memorandum of
Understanding with the Australian Glass and Glazing
Association to provide industry based training for glass
industry employees in the newly accredited qualification in
glass processing.
• Supplied teaching staff to the Technical and Technological
College, Mongolia for four weeks to support learning
resources and assessment tools under the Millennium
Challenge Account project.
• Supplied teaching staff for 16 weeks to conduct/supervise
another Carpentry/Bar Bending course for the GMR project
in Hyderabad, India.
• Extended industry links between the Australian Wall and
Ceiling Lining Association of Victoria and the Australian Tile
Council, and sponsorship agreements with plasterboard
and adhesive suppliers.
Faculty of Business & Finance
Holmesglen Faculty of Business and Finance connects with
community and industry through the range of courses offered
by its five departments: Business Studies; Business Industry
Training, Finance Studies; Graduate and Degree Programs
and Offshore programs. Locally, the courses are conducted in
Chadstone, Moorabbin and City campuses. Internationally, the
Accounting and International Business courses are delivered
in six campuses in China.
Key Achievements
• Inaugural delivery of the Holmesglen Bachelor of Business
(Accounting) at the Metropolitan South Institute of TAFE
[MSIT] in Brisbane.
• Staff members were supported in their professional
development and successfully obtained the Graduate
Certificate in Tertiary Teaching from the University of
Melbourne, Masters and PhD qualifications.
• Business Studies Department consolidated industryrelevant course delivery with active student engagement in
the Glen Eira Business Development Unit.
• Extensive strategic roll out of ‘Study Business and Finance
online’ courses at Diploma and Advanced Diploma levels,
covering 80+ units.
• Industry currency of teachers supported through
engagement with professional bodies AHRI, and the
Institute of Legal Executives.
• Finance Department forged strong industry liaison with the
Finance Brokers Association of Australia (FBAA) resulting in
endorsement of the Mortgage Broking courses.
• Bank of Melbourne Chadstone expressed support for
Holmesglen banking students with provision of awards for
academic achievement and endorsement of Holmesglen in
promotional fliers.
• Finance teachers moderated the Certificate III in Financial
Services delivered for a banking institute in Doha.
• Business Training Unit experienced strong demand from
mature age students for Business programs.
• Interstate delivery of accredited training programs in South
Australia and Queensland has broadened BTU’s scope.
• Offshore Programs Department welcomed a new academic
partner at the Hunan International Economics University,
Changsha, Hunan Province. The university is part of the
Laureate International network.
23
FACULTY OF DESIGN, ARTS & SCIENCE
FACULTY OF ENGINEERING, ELECTRICAL & IT
The Faculty of Design Arts & Science is comprised of the
Departments of Arts, Communication & Science, Design
Multimedia & Art and the Furnishing Industry Design &
Innovation Centre.
The Faculty of Engineering, Electrical and IT comprises three
departments. The Computing and Information Technology
Department offers IT courses from certificate to degree
studies across the Chadstone, Moorabbin and St Kilda
Road campuses. The Engineering and Electrotechnology
Departments, based at Moorabbin, offer training in electrical
studies, post-trade engineering, fabrication, renewable energy
and air conditioning/refrigeration.
Key Achievements
Arts, Communications & Science:
• Students benefited from instruction from talented, industry
based staff members including:
-- Tom Warneke (past student), sessional teacher and
production manager of the Melbourne Symphony Orchestra.
-- Jessica Frost (past student) sessional teacher and
touring with The Phantom of the Opera through South
Korea, Bangkok and Singapore.
• Students were encouraged to broaden their experiences
through numerous opportunities including:
-- Live production students worked with the Melbourne
International Comedy festival in 2013.
-- Two writing students successfully self-published.
-- Seven graduating Ceramic students exhibited at
Federation Square in the Pottery Expo.
-- Holmesglen Radio and TV students produced their 9th
season of HIT TV with coverage of high profile events
such as the Victorian Training Awards, Brownlow Medal
and Fashion Aid.
• Holmesglen strengthened its partnership with community
television station Channel 31 by becoming an Associate
Member.
Design, Multimedia & Art:
• Bachelor of Fashion (Apparel Engineering & Design) course
commenced delivery in the newly re-furbished city campus.
• Participation in the Melbourne Spring Fashion Festival by
running a forum session in the Fashion facility.
• Staff conducted a Careers Forum at the 2012 Melbourne
International Animation Festival (MIAF).
• The Department sponsored the Best Secondary Animation
award at the 2012 ATOM Awards.
-- Graphic design students participated in a variety of national
and international design competitions with success.
-- An Advanced Diploma of Graphic Design student was
part of the organising committee of the Semi Permanent
Design Conference (an international design forum).
-- Students of photoimaging, graphic design and screen and
media all held exhibitions of their work in public venues
in and around the CBD.
Furniture Industry Design & Innovation Centre:
• Holmesglen was a gold sponsor of the Certificate III awards at the
2012 Furniture Industry Association of Australia (Vic) awards night.
• A 12 week program for the Malaysian Timber Council was
conducted.
• A six week program for Cloudy Bay Sustainable Forestry was
provided in Papua New Guinea.
Across the Faculty:
• The Faculty sponsored the 50th Melbourne International
Film Festival Shorts Awards for Best Animation Short Film.
• Ceramic, Visual Arts & Graphic students were invited to exhibit
in “The Teapot Tips” exhibition held at Bayside City Council.
24
Key Achievements
Electrotechnology:
• The Electrotechnology Department successfully rolled
out iPads to students as part of curriculum delivery and
learning strategies. This innovative delivery strategy is now
being trialled with apprentice electricians.
• Successfully attracted funding via the DEEWR National
Workforce Development Fund through a joint application
with the ETU. This program provides qualified electricians
the GGE credential and the Certificate IV in Electrical
with specialist studies in a number of streams including
renewable, solar and wind energy. A highlight of this
program is the unique delivery strategy across two sites,
Holmesglen Moorabbin campus and the Rural Learning
Centre, with both sites being used for practical and
theoretical delivery.
Engineering:
• 2012 was the third year that the Faculty entered the RACV
Energy Breakthrough Challenge held in Maryborough. This
project brought a number of departments together to work
co-operatively to achieve a rewarding student outcome. The
Holmesglen designed and built electric powered vehicle
came first in class and our replica Bugatti came third in the
petrol only class.
Information Technology:
• Our strategic alliance with a student recruitment company
again saw the Department enrol students into I.T. diplomas
and credential them using RPL, on the training and on the
job assessment.
FACULTY OF HEALTH SCIENCE AND
COMMUNITY STUDIES
This large Faculty offers courses across all metropolitan
campuses within the following three departments: Health
Science and Biotechnology; Community and Transitional
Education; and Social Science.
Key achievements
Health Science & Biotechnology:
• The first two cohorts of students completed the Bachelor
of Nursing program. Students were highly successful in
securing graduate nursing programs within major public and
private hospitals in Victoria and interstate.
• Holmesglen received a “Distinguished Partners Award”
from ITE College in Singapore in recognition of successful
student exchange programs in the areas of nursing, dental
technology, and biotechnology. The award was presented by
Singapore’s Deputy Prime Minister.
• Received funding of $156,000 from Health Workforce
Australia (HWA) as the lead organisation in a successful
Victorian Simulation Alliance (VSA) bid. The funding will
enable the further establishment of the VSA (which now
has 200 members) and the development of a Simulation
Facilitator Network.
• Holmesglen was a key partner in a $1.5 million HWA funded
project in conjunction with the Southern and Mornington
Peninsula Clinical Placement Networks. The Holmesglen
Simulation Centre has been established as a central
equipment hub for the regions as part of a ‘distributed
learning’ model.
• New partnerships established with HealthScope and Cabrini.
• Successfully implemented the Certificate IV in Allied Health
Assistance at Moorabbin.
• Collaboration with Gene Technology Access Centre (GTAC)
on the DNA bar coding project (Joseph Cross).
• Completion of Mongolian project, which included the
introduction of Competency Based Training to Laboratory
Technician training at the School of Health.
• International students studying the Diploma of Nursing
established the “Nursing Club” to foster social community.
Community & Transitional Education:
• VCAL Foundation, Certificate I in Transition Education and
Certificate I in Work Education students displayed their work
in “Imprint” exhibition at the Kingston Arts Centre.
• A joint Moorabbin and Chadstone drama production of
“Snow White in the Never Never” and “Drama Geeks” was
performed by Certificate I in Transition Education students.
• Successfully launched the Certificate III in Education
Support course with high levels of interest and enrolment.
• Ludmila Liga (teacher) received a fellowship through the
International Specialised Skills Institute (ISS Institute). She
will learn and report on educational settings for students
with dyslexia.
• The Practical Room (simulated environment) at Chadstone
campus was refurbished for Certificate III in Aged Care and
Home and Community Care courses.
• Increased partnership with BGK LLEN to encompass
“Beyond the School Gates” project which provided potential
students the opportunity to participate in a taster program
in Work Education.
Social Science:
• Successfully launched the Diploma of Community Services
(Alcohol, Other Drugs and Mental Health) with a February
and July intake, providing a pathway for students who have
completed Certificate IV in Mental Health or Alcohol and
Other Drugs.
• Delivered a four day tailored training program to managers
and coordinators at WAYSS (Housing & Support Services) to
develop a common understanding, consistent approach and
improve skills in supervision practice within the organisation.
• The partnership with Berry Street community services
continues to grow through the delivery by Holmesglen of the
Diploma of Community Services work to employees.
• Implemented ‘Goal directed care planning’, funded by the
Community Services and Health Industry Training Board,
and delivered to a range of employees in local councils,
community and health organisations.
FACULTY OF LANGUAGE & VOCATIONAL PATHWAYS
The Faculty of Language and Vocational Pathways is comprised of:
• The Holmesglen Language Centre which delivers language,
literacy, numeracy and teacher training programs across all
Holmesglen campuses and to industry.
• The Holmesglen Vocational College which is a centre for
learning for students aged 16 to 18, offering the Certificate
I in Vocational Preparation and the Victorian Certificate in
Applied Learning (VCAL). Programs are offered at both the
Moorabbin and Waverley campuses.
Key Achievements
Holmesglen Language Centre:
The Language Centre delivered courses to a diverse range of
students including teachers, student graduates, adult migrants
and industry based employees including:
• English language intensive courses for overseas students.
• Adult Migrant English Program delivered to over 1000
recently arrived migrants.
• Workplace English language and literacy programs for
employees in the workplace.
• A new on line program of the CELTA teacher training course
was established.
• Certificate IV in TESOL and CELTA enrolments increased.
• Advanced level training included work placements to
migrants through the English for Migrant Professional
Programs for Health Professionals, Teachers, Engineers,
Accountants, IT and Business Professionals.
• Professional year programs for international student graduates
in accounting and engineering and a specialised teacher
placement program for overseas qualified teachers, funded by
the Department of Education & Early Childhood Development.
• An academic skills tutorial program to students of non-English
speaking backgrounds inclusive of those in degree programs.
Holmesglen Vocational College:
• First full year of operation at the Waverley campus and offered
successful programs in a range of industry areas.
• Implemented mid year intake of VCAL Foundation for a group of
“educationally at risk” young people at the Moorabbin campus.
• 83% of students graduating from the VCAL Senior program had
educational or employment pathways in place for 2013.
• VCAL Intermediate level students are supported to complete
a practical placement. It is a daunting prospect for young
learners and the results are remarkable. 80% Waverley
students and 76% Moorabbin students achieved 2 to 4 weeks
of practical placement.
• Students became involved in community projects including
the restoration of the Scotchman’s Creek area adjacent to
the Waverley campus. There were numerous other community
projects involving partnerships with local primary school: giving
sports skills clinics to Grade 3 students, reading books to
Grade 1 students, building and maintenance projects, and a
TAFE orientation day for Grade 6 students.
• Five students participated in the RACV Energy Challenge
at Maryborough. The production of the car entered was
a major development project for VCAL students choosing
electrical and engineering streams.
• The participation of 75 students in eight different sporting
fixtures of the Beach Side District of Schools Sports Victoria.
• Project based learning was expanded at the Intermediate
and Senior VCAL level through partnerships including
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those with SYN FM radio broadcasting station, Australian
Animal Protection Centre, Monash and Kingston Council
Youth Services, Australian Hearing, Headspace and Marriot
Support Services.
Faculty for Education, Service Skills
& Environment
The Faculty for Education, Service Skills and Environment
offers a range of programs from pre-vocational through
to degrees across a number of disciplines including
Early Childhood Education, Hospitality, Cookery, Bakery,
Tourism, Events, Sport and Outdoor Recreation, Fitness,
Complementary Health and Horticulture. Courses are offered
on the Moorabbin, Waverley and St Kilda Road campuses.
The Faculty Fitness Centre, located at Moorabbin, along with
the Wellness Centre, located at Waverley are both open to the
Holmesglen and local communities.
Key Achievements
Early Childhood Education:
• Successfully implemented Years all stages of the Bachelor
of Early Childhood Education.
• Introduced a dual qualification Certificate IV in Outside of
School Hours Care and Certificate III in Education Support
at Waverley Campus.
• Established specific part time Diploma pathway group for
the Bachelor of Early Childhood Education.
• Commenced delivery of part time diploma pathway group at
MSIT Brisbane for the Bachelor of Early Childhood Education.
• Established an agreement with the Child Care Centres
Association of Victoria (CCCAV) to conduct their quarterly
meetings and workshops at the Waverley campus.
• Hosted an Early Childhood Industry Consultation Forum,
“Best Practice and Practicing with the Best”, at Waverley to
over 60 key stakeholders.
• Conducted inaugural Course Advisory Panel meeting for
Bachelor of Early Childhood Education. Membership is by
invitation and includes external academics, practitioners,
and parents. Holmesglen staff and student representatives
also attend.
Hospitality, Cookery and Bakery:
-- Two cookery apprentices, Liam Van Grondelle and
Callum Nugent worked in Spain in two of the world’s best
restaurants.
-- Participation in the Melbourne Food & Wine Festival
continued in 2012 with students working with some of
the world’s best chefs at the Langham Masterclass.
• Participation in competitions with much success:
-- Patisserie student Mary Jane Barca was a finalist at
the Thierry Marx Competition - a prestigious industry
competition.
-- Bakery apprentice Heather Pristov represented Victoria in
the 2012 National Bake Skills competition.
-- 2nd year apprentice Hoang Le, was named as a finalist
in the ‘Fonterra Proud to be a Chef’ competition.
• Students benefited from instruction from talented, industry
based staff members including:
-- Bakery trainer Scott Megee represented Australia at the
IBA awards in Germany. This is the third time Scott has
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represented Australia and his craft on the world stage.
-- For the second consecutive year, accomplished chef
Leslie Chan won gold at the Australian Culinary Challenge
for his inspired culinary creations.
• The department was an active member of the following
industry organisations:
-- Les Toques Blanches, Shared Tables, Restaurant & Catering
Victoria and Bakery Industry Association of Victoria.
Tourism, Events and Sport:
• Successful student visits to Queensland along with the
second international trip to Singapore assisted in the
strong group numbers and retention rates in the Diploma
of Tourism. A successful funding application also saw ten
students and one staff member participate in a seven day
study tour in China, including Beijing, Shanghai and a visit
to the Great Wall.
• The events and tourism VET in Schools programs enjoyed
continued popularity with local schools, with an increase in
numbers across programs.
• The Sport and Recreation department successfully graduated
the new dual diploma two year program. A feature of the
program was a student developed and funded two week
coaching program in Fiji, working with over 2,500 students.
Recreation, Fitness & Complementary Health:
• The Diploma of Fitness continued to be well subscribed and
strengthened the profile of Holmesglen as a fitness training
provider. The development of a range of online options,
including evening tutorials, has been very popular with the
fitness group.
• The introduction of the specialised Naturopathy Clinic
added to the professional nature and image of the
triple Advanced Diploma in Naturopathy/Western Herbal
Medicine/Nutritional Medicine.
• The Diploma of Remedial Massage students continued work
with the disadvantaged and also supplied services to staff
at a number of Melbourne hospitals.
• The Diploma of Outdoor Recreation enjoyed a large first
year intake and developed the employability skills of
students through the introduction of the Certificate IV in
Tour Guiding.
Horticulture
-- Participation at Melbourne International Garden and
Flower show with one student display highly commended.
-- Diploma students participated in the Nursery and Garden
Industry of Victoria Achievable Gardens at the Melbourne
International Flower and Garden Show.
-- Floristry students entered the Wildflower Student
Competition, presented the flowers at the Holmesglen
30 year celebration Awards Festival and collaborated on
a photographic/fashion shoot.
-- Collection of indigenous species from the Rural Learning
Centre to continue the re-vegetation works on the property.
-- Contribution to the gardens of Peter James rehabilitation
centre, Sunshine Hospital and other community centres.
• The department expanded its industry focus through
regular submissions to key industry association magazines
and engaging key groups by membership and attending
meetings of Landscaping Victoria, Nursery and Garden
Industry Victoria Australian Golf Course Superintendents
Association.
• Partnership established with Cemeteries and Crematoria
Association of Victoria.
• A new model of condensed training for turf apprentices
commenced and was embraced by industry
• Commenced apprentice online assessment through Moodle
platform.
• Engaged indigenous youth with introduction of a taster
Horticulture program for students from Wesley College and
Certificate II in Rural Operations with Worawa Aboriginal College.
The International Centre provides administrative and support
services that enhance Holmesglen’s profile as an international
training provider, manages the program delivery offshore and
provides consultancy and management services for a range
of overseas projects. The Centre is responsible for marketing
Holmesglen programs overseas, providing a wide range of
services for international students and managing compliance
with the ESOS Act.
Despite a complex and challenging year, the International
Centre continued to develop and diversify to meet the
challenges.
• Successfully delivered, on budget, capacity building projects
with two VET institutes in Ulaan Baatar, Mongolia funded by
the Millennium Challenge Account.
• Developed and implemented a successful industry project
for the Malaysian Timber Council.
• Developed and managed a leadership training program
at Holmesglen for three senior personnel from offshore
partner, Wuhan Textile University.
• Delivery of offshore programs Henan Chemical Vocational
College, Zhengzhou approved.
• Commenced the delivery of the Diploma of Accounting at
Hunan International Economics University, Changsha.
• Developed an articulation arrangement with the Guangdong
Technical College of Water Resources and Electrical
Engineering, China for study pathways into building and
construction programs at Holmesglen.
• Conducted professional development and teacher training
workshops offshore for English language coordinators and
teachers at all partner institutions.
• Participated in the ASEAN Vocational Education and
Training Mission to Indonesia and Brunei and Victorian
government’s VET Mission to Malaysia.
• Hosted 13 delegations for professional development and/
or familiarisation training from China, Taiwan, Timor-Leste
and Malaysia.
Key Achievements
• Finalist in the category International Training Provider of the
Year 2012 at the National Training Awards.
• Expanded marketing plans to promote new partnerships:
MSIT Queensland and Computer Power, Melbourne.
International Visits
Details of overseas visits undertaken are available on written
request to the office of the Chief Executive.
Risk Management/Offshore Programs
The nature of identified strategic and operational risks and the strategies
established to manage such risks.
1.0 The principal areas of risk for the organisation in its engagement in
international activities are identified, and detailed, in the Holmesglen
Institute Risk Management Plan’s Risk Register.
2.0 The principal areas of risk for the organisation in its engagement
in international activities, with particular relevance to the overseas
delivery of its programs, are encompassed within the Risk Management
Plan.
3.0 The Risk Categories relevant to the organisation’s activities, including
offshore programs, include:
•Commercial
•Strategic Context
•External Factors
•Information Technology
•Strategic Planning and Management
•Liability
•Human Resources
•Safety & Security
4.3 Inherent Risk Ranking: ie Likely/Significant
4.4 Risk Management Strategy: strategies aimed at addressing specific
risks as defined, and in light of likely identified consequences (such as
strategies focusing on: Student Satisfaction, Legislative Compliance,
Retention of Competitive Advantage, Monitoring, Protection of
International Partnerships, Monitoring Fees & Payments).
4.5 Risk Treatment Control: specific control measures to address each
identified Risk Management Strategy. eg The Risk Management
Strategy for Protecting International Partnerships notes the Risk
Treatment Control as:
•Review viability of partnerships on an ongoing basis
•Maintain a strong international agent’s network
•Implement continual lobbying, advocacy, networking processes
•Allocate responsibilities with respect to safeguarding
the Institute’s international registration status
In addition, new or revised/improved Risk Treatment Controls are
introduced as a matter of routine through review and evaluation
processes. Such new controls (as relevant to the example noted
immediately above) include:
•Allocate responsibilities with respect to the establishment of, maintenance of, and review/evaluation of
international partnerships
•Implement a regular partnership reciprocal visits program
•Implementation of partnership staff training programs
The appalling service of Australian Government agencies in relation to
client service is difficult to minimise.
4.0 Each Risk Category specifies:
4.1 Risk Definitions: eg under the Commercial category, a broad definition
such at Threat to International Market. Under the broad Risk Definition
are noted specific defined risks relevant to the broad Risk Definition
(eg under the Risk Definition ‘Threat to International Market’ – the
specific defined risk of ‘deterioration of relations with international
partnership/s’.
4.2 Consequences: the full range of consequences identified,
eg business interruption, damaged reputation, loss of enterprise,
morale, financial, human resources, loss of students.
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Administrative Reports
Corporate Improvement Unit
The Corporate Improvement Unit (CIU) is responsible for the
maintenance of the Holmesglen Management System in
accordance with external requirements and provides support
across all areas of Holmesglen for effective implementation of
compliant processes.
During 2012, 29 business rules, 44 operational processes
and 58 forms were introduced or modified on the Holmesglen
Management System. In particular, five new processes
and seven modified processes specific to Higher Education
were included to reflect current requirements of the Higher
Education Standards Framework (Threshold Standards) 2011.
Key Achievements
• CIU staff conducted 17 Management System Reviews
in conjunction with Holmesglen Managers during 2012.
Local Reviews were completed at the Faculty, Centre or
Department level and, where requested, assistance was
provided by CIU staff.
• Holmesglen underwent several external audits including
Business Process, CRICOS, Delegated Authority (Desktop Audit)
and WorkSafe (delivery of the Construction Induction Card).
• In September 2012, Holmesglen underwent the annual
surveillance audit conducted by the internationally certified
body, SGS Systems & Services Certification Pty Ltd for:
-- AS/NZS ISO 9001:2008 Quality Management Systems
-- AS/NZS 4801:2001 Occupational Health and Safety
Management Systems.
• The audit included a review of several teaching and
administrative areas across the Chadstone, Moorabbin,
Waverley and City campuses. Minor areas for improvement
were identified and appropriate processes were initiated
to include stakeholder involvement for the emergency
management, risk assessment and profession development
processes. The audit resulted in ongoing certification being
issued to Holmesglen for the next two years.
• The Corporate Improvement Unit also facilitated 61 training
programs to support the Institute’s key operational processes:
-- Refresher training for the use of the Scope of
Registration Database.
-- Auditor training for reviewers to facilitate the Local
Review process.
-- Implementation of the contractor management process.
-- Implementation of the upgraded Chemical Management
System ‘ChemFFX’ for the maintenance of dangerous and
hazardous substances at Holmesglen.
Learning Commons
The Learning Commons provides a single point of access to
information, research and study resources for Holmesglen
staff and students in an innovative learning environment
across four branches. It is also a learning hub which facilitates
socialisation as well as quiet reflection as part of the total
learning experience.
In addition to traditional print resources, information is
being increasingly purchased in electronic format, which
allows clients to access important resources both on and
off campus. Professional librarians develop and deliver
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information literacy training sessions to help students develop
the skills they require to fully utilise these resources and
undertake effective research.
Key achievements
• Worked closely with other Victorian TAFE libraries to achieve
more competitive pricing for electronic databases, by
means of establishing a purchasing consortium.
• Introduced a discovery layer within the website, to provide
a seamless portal to the majority of information resources
provided by the Learning Commons. Students now have
access to a “Google-like” search platform, which has
enhanced the access of electronic resources and increased
the use of these valuable resources.
• Establishment of a new branch of the Learning Commons at
City Campus.
• Range of resource formats in the collection increased
to include greater electronic access to resources. These
included additional e-Book titles and a larger range of
commercially available streamed media products. This
facilitates greater flexibility in delivery methods, as well
as better supporting,
Marketing Unit
The Marketing Department provides a range of services to
attract and engage potential students and retain existing
students, while promoting Holmesglen as a vocational and
tertiary institution to a diverse community. The Department
is responsible for producing a consistent and memorable
brand message, ensuring the website evolves to the changing
needs of students and other stakeholders, preparing and
publishing major publications, planning and execution of
Institute participation in major expos and events, identifying
and conducting needed market research and co-ordinating and
executing school engagement strategies.
Key Achievements
• Planned and implemented Institute participation in a range
of events including a new Open Wednesday initiative.
• High engagement of mature age students in career
counselling initiative provided at major expos.
• Increased direct electronic marketing activity improved
response rates at reduced cost.
• Implemented a new ‘designed for you’ campaign creative.
• Provided a new Experience Holmesglen on campus
opportunity to full capacity for prospective local students.
• Reduced cost of production across major publications through
more accurate monitoring and measurement of requirements.
• Launched official Facebook presence for the Institute.
Publications
The Marketing Unit produced a range of publications in hard,
soft and web based format including course information
and promotional publications material. Information about
publications produced by Holmesglen or details about major
promotion, publications or marketing activities is available
in PDF format on the Institute website or by written request
to the Marketing and Communications Manager, PO Box 42,
Holmesglen, Victoria, 3148.
Media Services Department
National Training Solutions Centre
The Media Services Department (MSD) supports delivery
of programs and services with the provision of innovative
and tailor made media solutions in the areas of audio visual
services (educational media), graphic design, print room
services and copyright.
Previously known as the Flexible Training Centre, the National
Training Solutions Centre is focussed on market needs and
industry partnerships. This diverse Centre, delivers training
nationally and offers apprenticeships and traineeships,
distance and online learning, as well as accelerated and
mainstream programs.
Audio Visual Services – Educational Media (EM)
Educational Media offers comprehensive services in
communication ideas through digital video and digital image
production, graphic design, PowerPoint presentations and
multimedia production.
Key Achievements
The Educational Media section has undergone the busiest two
years of video production on record, and it is predicted this
trend will continue:
• Media Services played an instrumental role in the design,
project management and placement of video content on the
Holmesglen You Tube Channel as well as facilitation of video
programs for the Video Gallery within Holmesglen’s web site.
These two high profile portals enable global visual access to
Holmesglen facilities, activities and project outcomes.
• Production of promotional and informational programs for
the Institute included City Campus, Graphic Design/Design,
Arts & Science Promotional DVD’s, Sport & Recreation
(Student Services) Animation, Holmesglen Open Day PR
DVD & Animation. External clients included Australian
Catholic University, Australian & New Zealand College of
Anaesthetists, and Armstrong World Industries.
• The Institute’s digital asset management system ‘Portfolio’
was updated and refined, allowing internal departments and
external clients to view selected promotional photographic
images via their local PC’s through Net Publishing.
• Media services also supported the introduction of IPTV,
a YouTube style of programming that allows students and
staff to view various media.
• There was a sustained growth of audio visual acquisitions/
installations across the Institute; classroom integrated
data video projection systems (340), portable DVP’s (105),
interactive whiteboards (12) and sympodium systems (13)
all increased and ensured the Institute was well placed with
access to the latest AV technologies.
• Provided AV systems and equipment training to 200+
Institute staff.
Graphic Design Services
The Graphic and Design Service supports departments with
the transformation of ideas and concepts in finished artwork for
brochures, invitations, programs, covers, posters and new media.
Key Achievements
This area continued to demonstrate its remarkable ability to output
significant graphic design production on behalf of the Institute.
• Demand for graphic design services increased and the
introduction of a new part time support position played a
crucial role in fulfilling the needs of the Institute.
• These were further upgrades to the latest hardware system
and software.
• Production highlights included City Campus promotion,
Holmesglen 30th Anniversary and the Awards Festival.
The Centre offers more than 100 courses across
Manufacturing, Automotive, Engineering, Civil Construction,
Financial Services, Transport, Warehousing, Hospitality,
Business, Public Safety, Furnishing, Building and Construction,
Horticulture, Rural Production and Asset Maintenance
industries, as well as WorkSafe accredited OHS programs and
High Risk Work Licences.
Key Achievements
• Opened new facility at Bulli Street, Moorabbin for provision
of Occupational Health & Safety, Industrial skills, and
Flooring Technology training.
• Established partnerships and training in Resources
and Infrastructure, Public Safety and Manufacturing.
New contracts have been established with a number of
organisations for the delivery of Public Safety programs
including Fire Safety and the national delivery of Height
Safety programs.
• In partnership with FMA Australia, the development and
implementation of the Diploma of Facilities Management,
designed to be undertaken through online learning. The
customised Diploma is specifically designed to meet the
occupational outcomes required by professionals working in
the Facilities Management industry.
• Continued growth in Flooring Technology apprenticeships due
to the flexible training and assessment system. The flexible
delivery enables us to work towards the State Government’s
initiative to remove fixed time period and allow apprentices to
complete their training at their own pace.
• Growth of the partnership with Mission Australia, in the
development of a new course, ‘Ignition’, which helps people
who have reading and writing difficulties to gain their drivers
licence. More growth with a Certificate I in Vocational
Preparation aimed at helping young indigenous people gain
skills to enter the work force.
• Servicing more industry clients by providing trade
accreditation. The trade accreditation program works with
industry to identify employees who have been working for
years without having any formal qualifications, conducting
skills audits and recognising their current workplace
competencies and awarding them with certification.
• Giving back to the community by continuing in the delivery
of training for community works programs for Corrections
Victoria. Providing real opportunities for offenders to
develop practical skills required in the workplace. Being
awarded two 2012 Community Work Partnership Awards
by Corrections Victoria recognising Holmesglen for its
contribution to training and assessment.
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Registrar’s Department
Key Achievements
The Registrar is responsible for the effective provision of a
range of services and supports across the Institute, including:
• Academic graduation ceremonies.
• Awards preparation and issue.
• Examination schedule and conduct.
• Mail room.
• Reception duties and general course information.
• Statistical reporting.
• Student administration, enrolment and fees collection.
• Student information systems management.
• Student records management.
• Switchboard operations.
• Timetabling of rooms.
• Weekend Institute operations.
Recreation & Activities:
• The Recreation Team expanded the program and introduced
new and engaging activities including Enviro Week, a Cairns
trip and Southern University Games and Sports. All received
positive feedback and planned to be continued in 2013.
• Increased sports participation due to the introduction of
Social Sports Days. The number of sports offers for the
TREV Competitions also increased.
• The new clubs program, run entirely based on student
ideas, was very successful.
• Decreased student numbers afforded better quality food
and options for events.
• Interstate trips proved to be the most popular and were
sold out within two weeks.
The Department develops and disseminates Institute
administrative policy information to current students,
prospective students, past students, Holmesglen staff and the
general public. The Department is responsible for collecting
student statistical data and reporting to the Federal and
Victorian Government on Institute activity.
Disability Support Services:
• Funding from Higher Education and Skills Group,
Department of Education and Early Childhood Development,
Holmesglen and other sources enabled the Disability
Support Service (DSS) to focus on empowering and
enabling students to achieve their educational potential by
providing both direct and indirect support to students and
staff. These included: note-taking, classroom participation
assistance, study assistance, Auslan interpreters, a
homework group, accessible parking, provision of lift keys,
adaptive technology and other specialised equipment.
• The two DSS staff (one coordinator and Disability Liaison
Officer) provided 9,500 direct support hours and over
11,500 contacts for around 200 students and numerous
non-students, (teaching staff, parents or external
professionals & agencies).
• The numbers of students registered with the DSS were
consistent with last year; however, the support needs of
students are increasing. In particular pathway students with
disabilities have become more support intensive.
Key Achievements
• Refinement of data validation processes leading to
improved data quality outcomes.
• Implemented Student Attendance Tracking (SAT) to
provide academic teaching staff with web based student
attendance rolls.
• Implemented new fee rules from HESG in July 2012 for
Changes to Service Agreement, and in November 2012 for The
Victorian Training Guarantee 2013 Guidelines about Fees.
• Developed enhancements to the Fees System to
incorporate changes from HESG and allow staff and
students access to accurate fees information.
• Improved administrative procedures to accommodate
the full implementation of Skills Reform. Staff training in
new procedures rolled out across the Institute to ensure
compliance with government policy.
• Commenced a major project to implement a new enterprise
Student Management System: Banner.
• Commenced an initiative to train and develop a bank of
casual staff to support student enrolments.
• Managed the Institute’s first HESG Business Process Audit.
Student Services
Student Services delivers a variety of support activities,
aimed at meeting the needs of both full time and part time
students and staff. Ongoing or crisis support is provided on
a one-to-one basis, or via workshops for groups. In this way,
Student Services contributes to maintaining the general health
and wellbeing of the Holmesglen community, and aids in the
reduction of student attrition rates and staff absenteeism.
Student Services comprises of the following support services:
Counselling (Personal & Careers); International Student Social
Inclusion; Disability Support Services and Recreation & Activities.
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Counselling (Personal & Careers):
• Counsellors provided support to 2,264 staff and students
and attended 2,880 sessions across the three campuses.
In addition, the counsellors acted as consultants for
teaching and administration staff regarding difficult
students or students at risk.
• Liaison was provided between staff and students or staff
and staff to facilitate meetings or defuse breakdown in
communication.
• The strain on welfare agencies led to a change in the
frequency that we sent students for material relief.
• The food bank across campuses is well utilised and a ‘Free
Fresh Fruit & Vegetables’ day per month was commenced.
Graduate Employment Service
In 2012 the Graduate Employment Service successfully
completed its first full year of operation. The unit provided a
high standard of service to employers and graduates alike.
This is evidenced by a high number of employers returning to
the service with second and third vacancies for various roles
in their organisations. Some graduates have quickly been
promoted and thus created further opportunities for other
Holmesglen graduates.
• Service Management: IT Service Management processes
and structures are to be introduced in the form of ITIL
Service Desk and ITIL Change Management.
• A second data gateway is to be provisioned out of Waverley
to facilitate the removal of a single point of failure at
Chadstone. This represents the last major puzzle piece of a
High Availability infrastructure.
The Graduate Employment Service is seen as a very strong
differentiating factor in the industry as no other educational
institution provides such a cost effective end-to-end
recruitment service. Graduates who signed up to the service
commented very positively about the advice, guidance and job
referrals received from our staff.
Throughout the year, 47 presentations were held to promote
and highlight the service to students with over 750 attending.
Services were delivered to 128 international graduates,
185 local graduates and 145 employers. 28 international
graduates and 55 local graduates were assisted into
employment with 13 graduates provided with formal work
experience placements.
Career Development Services established an online presence
with web pages, employment resources and a range of
publications aimed at assisting graduates with resume
preparation, letter writing and interview techniques.
Technology Services Department
The Technology Services Department manages the Institute’s
information technology and communications facilities. The
infrastructure and services provided to Holmesglen’s staff and
students are of key importance to the Holmesglen strategic plan.
Key Achievements
• Wireless infrastructure rollout completed. All Holmesglen
campuses are now wireless hotspots on the completion of
a significant infrastructure rollout.
• Desktop computer refresh. Desktop computers have
increased in-line with classroom facilities and refreshed as
part of the four year cycle of replacement. Current numbers
of desktop computers supported are: 1,225 in Chadstone,
292 in Waverley, and 828 in Moorabbin.
• The Waverley data centre has been fully completed with the
provision of a generator to maintain power in conjunction
with the UPS battery units.
• The database infrastructure that hosts core business
systems was restructured into a highly available cluster.
• Cisco’s Unified Computing System was implemented across
the Chadstone and Waverley data centres and provides for
rapid deployment of highly available server infrastructure.
• The Technology Services Strategic Plan was revised and
aligns with the Holmesglen Strategic Plan. The focus areas
of the plan include:
-- Student Management System replacement: The
replacement of the QLS system and its associated
interfaces to other systems was planned and will be
completed by 2013.
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Facilities
All Government and Institute funded projects are monitored
through monthly reporting to meetings of the Building and
Planning Committee of the Institute Board.
Government Specific Purpose Payments
General Commonwealth Equipment Allocation ($1,439,717)
This was expended on an extensive range of general
equipment items for teaching and administration as well as
computer and technology upgrades.
In late 2012 a Planning Permit was obtained to extend the
use of the conference centre to external clients. This permit is
dependant on Holmesglen funding an upgrade to Moore Road.
The Institute Board also approved the construction of 12
additional accommodation units to be built in 2013.
Batesford Road House
Following the purchase of 14 Batesford Road, an old
house was demolished and construction commenced in
September 2012, on a new five bedroom house for student
accommodation. This will be completed in early 2013.
Specialised TAFE Teaching Equipment Allocation ($654,190)
This was used to purchase up to date technical equipment
items for arts and communications, dental technology,
design, multimedia and art, horticulture, nursing, media
services, painting and decorating, and recreation, fitness and
complimentary health.
Building 7 Chadstone
Following completion of Building 6 and the subsequent
move of the International Centre a minor refurbishment was
undertaken to allow the Language department to consolidate
their various offices to the Ground Floor of Building 7.
Building Maintenance Allocation ($525,575)
This funding was used to supplement Institute Board
expenditure on maintenance across all campuses.
Cyclic Maintenance and Minor Works
In 2012 the Institute committed $700,000 of Board funds
towards cyclic maintenance and minor works.
Major Institute Board Funded Projects 2012
Building Compliance
International Administration Centre and Teaching Building
Construction of a six level building on Warrigal Rd commenced
in October 2010. A budget of $20 million was provided by the
Board. The building comprises four teaching floors and two floors
for administration of Holmesglen’s international operations. The
project was successfully completed in April 2012.
Building Act 1993
Holmesglen holds all plans and documentation for building
extensions and new buildings lodged for issue of building
approvals by certified building surveyors. On completion
of construction Holmesglen has obtained Certificates of
Occupancy and practical completion certificates from the
relevant architects, surveyors and authorities.
Student Housing
In August 2011 construction of 47 student apartments was
commenced in the south east corner of the Waverley campus.
These were completed in August 2012 and provide attractive
individual accommodation for students. Each apartment
attracts an incentive from the National Rental Assistance
Scheme. The project was funded by the Institute Board and
completed within a budget of $6.9 million. Negotiations with
the State Government to use this facility for a Youth Foyer will
be finalised in early 2013.
City campus
In July 2011 Holmesglen commenced the lease of a seven
storey building at 332 St Kilda Road and extensive fit out
works were undertaken to enable a change of use from office
space to education. This included a Learning Commons and
Information office on the Ground Floor. Fit out and furniture
and equipment for this facility was allocated a budget of $3.1
million from Institute funds. These works were completed early
in 2012 and operations commenced in February.
Smaller Institute Board Funded Projects
The Rural Learning Centre was completed in 2009 and has
proven to be an excellent facility for short term residential
student activities and a great professional development
venue for staff. In 2011 the Board allocated Institute funds to
provide for additional landscaping works and an agroforestry
project and this is largely completed.
32
Compliance Statement
It is considered that all buildings across campuses currently
conform to the Building Regulations that existed at the time
of construction of the respective buildings. All new buildings
constructed since the promulgation of the Building Act 1993
(including subsequent amendments), comply with those
relevant standards.
Holmesglen has on ongoing program to ensure that any
alterations or improvements to buildings meet the necessary
standards to ensure that they are safe and fit for purpose and
comply with the updated disability code.
Environmental Performance
Energy Efficient Buildings
The Institute has undertaken the following strategies inline
with Government policy:
• Purchase of 25% green power for Holmesglen’s five
metropolitan campuses.
• Installation of T5 light fittings throughout any refurbishment works.
• Continued the installation of separate smart metering of
buildings to enable closer monitoring.
• Continued implementation of the Building Automation
System (BAS) on all campuses, centrally monitored from
Chadstone campus.
• Carefully monitoring the room timetables to ensure facilities
are not heated and air-conditioned when unoccupied. This
has resulted in significant energy savings.
• Urinals on all sites have been converted to waterless and
refurbished buildings fitted with dual flush cisterns and
purpose built waterless urinals.
Environmentally Sustainable Design (ESD) Principles in
New Building Design
These include:
• Building orientation to maximise the benefits of solar
passive heating and ventilation, while minimising costs.
• High efficiency air-conditioning infrastructure including
chilled beam technology.
• Automatic controls on air-conditioning systems.
• Materials selection.
• Water efficient appliances.
• Lighting control.
• Water collection, storage and re-distribution systems for
landscape purposes.
• Solar hot water systems.
• Energy efficient glazing and window shading.
• Commissioning and maintenance regimes.
• Transport considerations.
GBCA Green Star Achievements
The three major building projects undertaken in 2009-2012
have now all achieved a 5 Star Design rating from the Green
Building Council of Australia.
Greener Government Buildings Project
In 2012 Holmesglen agreed to participate in the Greener
Government Buildings initiative. Three Energy Service
Companies (ESCO’s) tendered to undertake a Detailed Facility
Study (DFS) and the successful tenderer has commenced
work on the DFS. From this study a series of projects will be
identified that will be financed by the State Government and
repaid from energy savings achieved.
Energy Usage
The Institute has undertaken significant facility expansion
each year making it very difficult to quantify any reduction in
electricity and gas consumption. To date not all buildings are
separately metered.
Additionally all new buildings are now air-conditioned for
student comfort.
2012 Electricity Consumption in kWh
Year
Chadstone
Moorabbin
Waverley
Bulli Street
City Campus
TOTAL
2006
7,538,965
4,648,324
1,519,203
N/A
N/A
13,706,492
N/A
13,631,046
2007
7,199,309
4,715,297
1,716,439
N/A
2008
7,252,021
4,590,253
1,671,647
N/A
N/A
13,513,921
2009
7,288,799
4,357,299
1,745,405
N/A
N/A
13,391,502
2010
7,229,975
4,372,031
1,835,094
N/A
N/A
13,437,099
N/A
13,519,341
13,221,635
2011
7,133,469
4,302,818
2,083,054
N/A
2012
7,042,966
4,078,769
2,099,901
121,514
1,038,309
2012 Gas Consumption in MJ
Year
Chadstone
Moorabbin
Waverley
Bulli Street
City Campus
TOTAL
2006
21,605,926
15,680,832
3,397,490
N/A
N/A
40,684,247
2007
16,024,862
15,262,953
3,822,527
N/A
N/A
35,110,342
2008
17,667,771
15,546,620
4,390,505
N/A
N/A
37,604,896
N/A
31,928,177
2009
14,249,393
13,220,518
4,458,266
N/A
2010
14,244,916
14,171,087
4,376,088
N/A
N/A
32,792,091
2011
13,409,840
14,798,656
4,890,444
N/A
N/A
33,098,940
2012
14,835,421
13,598,846
5,096,857
25,791
2,206,397
35,763,312
33
ENTERPRISE
We encourage business
development strategies
that are innovative, wellresourced, responsive
and entrepreneurial.
34
VOCATIONAL AND HIGHER EDUCATION ENTERPRISE
Conference Centre & Corporate Suites
The Conference Centre manages facilities and delivers
conference and meeting service to internal and external
clients at the Chadstone campus. Facilities managed include:
a purpose built Conference Centre and a suite of corporate
meeting and board rooms that provide a professional
environment for internal meetings and staff training programs.
Key Achievements
Conference Centre:
• Catered for more than 2,500 delegates for meetings,
seminars, presentations and cocktails.
• Supported by Transfield Services, Victoria Police,
Australasian Corrosion Association, Occupational
Therapists and Cognitive Behaviour Therapy.
• Feedback received from clients rated the venues as good
value for money with excellent access to public transport.
Corporate Suites:
• Proved internal meeting facilities to over 1,200 internal
events ranging from industry partnership meetings,
professional development sessions, training, interviews,
book launches, and exhibitions.
• The space continued to provide a valuable meeting facility
for all Holmesglen departments with minimal costs.
• Hemisphere catered for in excess of 27,848 delegates
attending various meetings, conferences, functions and
other events in 2012.
• Hemisphere continues to work with the School of
Hospitality, Cookery & Bakery to integrate student work
placement into its business
The Rural Learning Centre (RLC) is situated on Holmesglen’s
660 acre property at Snobs Creek near Eildon. The Centre
is utilised by Holmesglen as a camp destination for students
who undertake field work, live projects, competencies and
outdoor recreation. It also acts as a venue for conferences,
professional development and meetings for staff and external
clients.
The facility includes fully catered conferencing facilities and
self assessed four star accommodation, student quad rooms,
a recreation precinct and an eight bedroom self catering
homestead.
Students have access to a range of activities and facilities
on the property including a working cattle farm, agro forestry
project, wildlife zone, canoe dam, low ropes course, Snobs
Creek Camping Ground, fishing and yabbying dams, fish
breeding dams, extensive walking and orienteering tracks.
Hemisphere Conference Centre and Hotel
Key Achievements
Hemisphere Conference Centre & Hotel together form one
of the largest specialised conference, meeting and training
venues in the south-east region of Melbourne. Hemisphere
has gained a reputation as a quality facility with an RACV four
star Hotel rating.
•
•
•
Key Achievements
•
• Hemisphere experienced an excellent financial result in
2012 due to a combined team effort of dedicated staff.
• Conferencing clients enjoyed personalised and attentive
planning assistance from their initial contact through to
the day of their event being fully serviced by food and
beverage, front desk and audio visual staff attending to all
requirements.
• Feedback received from clients in 2012 consistently rated
staff service as excellent, closely followed by the high
standard of food and beverage offered along with the
flexibility and modern décor of the venue.
• Guests of the Hotel regularly comment on the value for
money and the excellent in room facilities provided.
• Hemisphere continued to increase its marketing campaign
in 2012.
• Hemisphere’s Business Development Executive focused
on promoting residential conference facilities, increasing
occupancy and sourcing new business. Last minute online
accommodation websites and travel agents booking via
the GDS (global distribution system) have increased the
accommodation occupancy and continue to assist
with growth.
•
•
•
•
•
The Rural Learning Centre attracted over 4,000 guests of
which 1,200 were students from across the Institute.
The Centre served over 25,000 meals and
accommodated guests in 2,500 room nights.
The Centre accommodated 99 different student, staff
and external conference groups in the year and utilised
73% of available days, including many weekends.
Hosted a number of major community events including
the Marysville Food and Wine Festival Business
Breakfast, Murrindindi Schools Cluster Conference,
Alexandra Secondary College VET Hospitality Camp and
the Rotary Change Over Dinner.
Produced a “paddock to plate” menu. This is as a
sustainable, low miles menu featuring cattle reared
on the property and fresh, seasonal produce from the
kitchen garden and surrounding area.
Completed a number of landscaping projects including a
kitchen garden for herbs and vegetables, espaliered fruit
trees, rubbish/recycling and composting enclosure.
Developed a series of bushwalks with markers that are
supported by track notes and maps both on the property
and in the surrounding state forest.
Facilitated live projects that allowed students to create,
enhance and contribute to the centre and to put into
practice the skills learnt at Holmesglen. Projects included:
photographic artwork to student rooms, fence style design
and construction, solar energy installations, bird feeder
construction and markers and literature design.
Developed a series of marketing resources including
corporate and student camp brochures, letter heads,
logo and a website presence.
35
Community & Industry Short Courses
The Community & Industry Short Courses Department is a
client focused, innovative and profitable provider of community
and industry accessible learning in a supportive environment.
The Short Courses Department offered approximately
440 face-to-face short courses and over 300 online courses.
Additionally, the department offered two Certificate IV courses
catering to the specialised industry needs in Real Estate
and Building.
Bachelor of Fashion Design (Apparel Engineering & Design)
commenced at the St Kilda Road campus.
• Over 500 students have enrolled into 14 programs, from
Certificate II level through to degree programs.
• An alliance with Computer Power Australia commenced
in January 2012 with students undertaking information
technology training at the diploma level and then
participating in a comprehensive job placement program on
completion of the course.
• Entered into an agreement with the Spotless Group to
co-ordinate all vocational training undertaken by their staff
throughout Australia.
Key Achievements
Holmesglen Employment
• Commenced offering approximately 100 courses at
Holmesglen’s new St Kilda Road campus and implemented
marketing plans that included distribution of a City Guide
directly to homes within defined catchment areas.
• Approximately 45 new courses were introduced including:
Intro to Wrought Iron/Blacksmithing, How to Cut and Sew
Cushions, Linked In Essentials, Poetry Writing, Artisan
Bread Making, Patchwork Quilting, Photographic Lighting
and Facebook for Over 40’s.
• The department offered both Certificate IV in Building &
Construction (Building) and Certificate IV in Property (Real
Estate), as fee-for-service and government funded courses.
The Certificate IV in Building & Construction course exceeded
forecasted student contact hours and the department
scheduled additional sessions to meet demand.
• The Department developed associations with a wider network of
industry clients and attracted several new high profile clients.
• The department developed and worked to a detailed
marketing strategy and achieved over 90% of the agreed
marketing KPI’s. Multi channel marketing campaigns were
introduced, monitored and reviewed.
• Short courses developed a stand alone iPhone application
enabling students to search, enrol and pay for their
courses. The project was recognised by leading developers
and featured in several media releases.
• Department staff undertook intense customer service
training including workshops, role plays and one-on-one
mentoring designed to improve the customer experience.
Staff were measured and provided feedback on their
performance on a monthly basis, and as a result have
developed excellent customer service skills.
Centre OF Business Development
The Centre for Business Development identifies, scopes
and implements key projects that will enhance Holmeglen’s
capacity as a training provider, in order to:
This unit includes the Business Enterprise Unit and
undertakes project work related to the employment services
industry and leverages new training opportunities for
Holmesglen faculties.
As part of Holmesglen Employment, the Business
Enterprise Unit (BEU) delivers the Australian government’s
New Enterprise Incentive Scheme (NEIS), a Department
of Education, Employment and Workplace Relations selfemployment program for unemployed people who wish to start
their own independent business.
Key Achievements
• BEU won the tender to deliver Small Business Advisory
Services in Melbourne’s south eastern suburbs for
AusIndustry.
• The VicRoads’ L2P contract was rolled over for a further
12 months.
• Commenced delivery of the Certificate IV in Small Business
at the St Kilda Road campus. Targeted at people wishing
to commence their own business, this course combines
classroom and online content along with post course
mentoring. This ensures graduates are well equipped to
meet the challenges of establishing their new business.
• Holmesglen Employment, in conjunction with ESSE,
continued its city based housekeeping program (Certificate
II in Health Services). This successful program saw 80% of
graduates going on to work in the industry.
• NEIS unit had another successful year with over 125
students enrolled into the Certificate IV in Small Business
Management. Of these, over 100 went on to commence in
the NEIS program.
• The NEIS unit Manager – Arie Moses was elected President
of the National NEIS Association.
Learning Innovation and Development (LID)
• Meet the needs of key stakeholders including students and
government,
• Develop links with large employers and industry
organisation in order to provide solutions to their training &
development needs.
Key Achievements
• Opening of the City campus in St Kilda Road in March 2012.
• In partnership with the Faculty of Design, Art & Science the
36
VOCATIONAL AND HIGHER EDUCATION ENTERPRISE
Learning Innovation and Development (LID) provides support
to faculties within Holmesglen and to external clients through
the following services:
• Delivery of training programs and professional development
for Institute staff.
• Help Desk support for the Institute’s Moodle learning
management system.
• Learning resource development.
• Curriculum development.
• Resource development for offshore programs.
• Provision of the Curriculum Maintenance
Management (CMM) service for the Training Support Network
website for Higher Education and Skills Group (HESG) for
Building Industries, inclusive of Building and Construction, Civil
Construction, Furnishing and Water industries.
LID also supports, maintains and develops the Training
Support Network website for Higher Education and Skills
Group (HESG). This service provides a technical helpdesk
to support the users of the site including the general public,
curriculum maintenance managers and HESG, addressing
technical issues and ensuring functionality and accessibility of
the website.
Key Achievements
• Runners-up in the E-Learning Industry Association of
Victoria, E-learning Excellence award - VET category.
• Developed online resources to support Bushfire Attack
Level (BAL) training.
• Developed online training resources for driver trainers through
Workplace English Language and Literacy (WELL) funding.
• Reaccredited the Certificate II in Building and Construction
(pre-apprenticeship) which included the addition of a
stonemasonry stream to the existing six streams.
• Reaccredited the Vocational Graduate Certificate in Graphic
Design Practice.
• Reaccredited the Course in Workplace Spotting for Service Assets.
• Implemented VET sector trainer and assessor currency
program.
• Developed online resources to support delivery of the
Diploma of Vocational Education and Training and the
Currency program.
• Facilitated Teaching and Learning showcase for Institute
staff that focussed on the use of mobile learning
technology for delivery and assessment.
• Developed and published purchasing guides for the Building
and Construction, Resource and Infrastructure (Civil
Construction), Furnishing and Water Training Packages.
• Undertook a research based evaluation of e-learning
practices at Holmesglen.
37
INTEGRITY
We respect the individual
and uphold the highest
ethical standards by
acting in a fair and
objective manner.
38
VOCATIONAL AND HIGHER EDUCATION INTEGRITY
39
40
41
KEY PERFORMANCE INDICATORS
HOLMESGLEN INSTITUTE OF TAFE (does not include consolidated figures for HITS & Trust)
KEY PERFORMANCE INDICATORS FOR ANNUAL REPORT 2012
KPI
2012
2011
2010
2009
2008
Participations of 15 - 24 Year olds
24,004
23,172
25,991
24,817
23,403
Participations of 25 - 64 Year olds
30,524
29,853
33,078
31,797
28,877
80%
77%
72%
76%
75%
Not
available
at Institute
level
89.40%
Not
available
at Institute
level
87.70%
Not
available
at Institute
level
8,085,527
6,781,547
6,780,438
6,560,587
6,491,838
Total Cost per Student Contact Hours (SCH)
Total funded expenditure (excluding depreciation)/total SCH.
11.86
13.18
12.50
12.73
11.88
Working Capital Ratio
Current assets/current liabilities (adjusted for non-current LSL).
1.04
1.03
1.06
1.44
1.49
2.79%
8.25%
10.70%
5.84%
-3.96%
25.15%
29.19%
35.30%
37.30%
35.00%
$128,537
$118,857
$111,383
$106,845
$109,486
Strategic Alignment
Number of students within the age group
Training Outcomes
Module Load Completion Rate
Scheduled hours assessed and passed or satisfactorily
completed/total scheduled hours reported less hours recorded
with credit transfer and continuing studies outcomes.
Student Satisfaction
Proportion of graduates satisfied with the overall quality of
training. (surveys completed every 2 years)
Student Contact Hours (State Government Funded Places)
Financial Management
Net Operating Margin
Funded operating surplus/total revenue (excl. capital)
Fee for Service Revenue
Fee for service revenue/total revenue (%).
Organisational Management
Revenue Per EFT Staff
Total revenue (excluding capital) / average EFT staff.
Environment
Energy Consumption
Percentage reduction in energy consumption for electricity,
gas, LPG, green power and heating oil.
Refer to separate report on Environmental Performance
2012 fees and charges
Statement regarding compulsory fees, subscriptions and charges
• The Holmesglen 2012 Fees and Charges booklet was
provided to each student upon enrolment.
• Tuition fees were charged according to Skill Levels from the
minimum to the maximum permitted by Skills Victoria.
• Fees were changed post July 1 according to changes
outlined in the 2012 Version 1.2 Service Agreement.
• A general services fee was applied to TAFE students for the
provision of facilities and services of direct benefit to the student.
• Higher Education students were charged a services and
amenities fee.
• A fee was applied in some courses to recover the cost of
providing materials to be retained by a student as his or her
personal property.
• Students in relevant courses were tested for eligibility for
a Government Supported Place. Ineligible students were
offered a Full Fee Paying Place.
• Continuing students in continuing courses were treated as
Fees Maintenance students.
42
• Students in relevant courses were offered VET FEE HELP,
FEE HELP, SA HELP and Commonwealth Supported Places.
• Students were offered access to a Holmesglen Payment
Plan to assist with fee payment.
• A fee concession calculation was applied to any student enrolling
in an eligible course, who demonstrated proof of eligibility.
• Eligibility exemptions were provided to eligible students.
• Fee exemptions were provided to eligible students.
• Goods and Services Tax was not charged for eligible
accredited courses.
• Refunds were available to students applying within the
advertised timeframe.
Details of Institute fees and charges
may be obtained by writing to:
The Registrar
Holmesglen
PO Box 42
Holmesglen VICTORIA 3148
Student data
2012
2011
Change %
Vet Qualifications
12,705,227
12,302,520
3.17
Short Courses
234,358
278,002
-18.62
Total
12,939,585
12,580,522
2.77
Degrees and Graduate Certificates
1,559
1,506
3.40
Diplomas
7,200
8,063
-11.99
Certificates
34,888
31,697
9.15
Year 12
615
573
6.83
Short Courses and Other
10,266
11,186
-8.96
Total
54,528
53,025
2.76
Government
27,937
22,764
18.52
Domestic Fee Paying
18,897
19,962
-5.64
Overseas Fee Paying
7,694
10,299
-33.86
Total
54,528
53,025
2.76
All Other Fund Sources
0.80
0.80
0.00
Government Funded
0.80
0.77
3.75
International
7,856
10,595
-34.87
Local
46,672
42,430
9.09
Total
54,528
53,025
2.76
Under 19 years of age
10,900
9,600
11.93
20 to 24
13,104
13,572
-3.57
25 to 34
12,771
13,206
-3.41
35 to 44
8,580
8,408
2.00
45 and over
9,173
8,239
10.18
Total
54,528
53,025
2.76
Female
22,353
21,202
5.15
Male
32,175
31,823
1.09
Total
54,528
53,025
2.76
Student Contact Hours
Qualification Level
Funding Source
Module Load Completion Rate
Student Diversity
Age Range
Gender
43
Human Resources
Occupational Health and Safety
Holmesglen is committed to providing a safe and healthy
environment for its employees, students and visitors.
Everyone is responsible for their own safety and the safety
of others.
Faculties and Departments are assisted by the Human
Resources OHS Advisory team to fulfil their regulatory OHS
and WorkCover obligations.
Holmesglen OHS Consultative Framework
Holmesglen employees are represented by elected and trained
Health and Safety Representatives (HSR) in designated work
groups across the Institute. There are thirty HSR’s and they work
with their I.T. Managers to identify and resolve safety issues.
The OHS Committee consists of an equal number of employer
and employee representatives. The employee representatives
are elected from the pool of HSR’s. The OHS Committee
meets bi-monthly to share information and to ensure any
safety issues have been addressed.
Occupational Health Surveillance and Programs
In 2012 the OHS Advisory team co-ordinated and implemented
health monitoring and vaccination programs. These included
the regulatory health surveillance programs of audiometric and
silica monitoring to ensure compliance and voluntary influenza
vaccinations to reduce the incidence of staff illness.
348 staff received these services during 2012. Audiometric
testing is generally bi-annual however, 28 staff missed tests in
2011 and so were tested in 2012.
As part of a WorkSafe initiative, Work Health checks were
conducted for more than 400 staff over a 2 week period
by the Royal District Nursing Service at the Chadstone,
Moorabbin and Waverley campuses. A summary report was
provided outlining the general health of the Holmesglen
workforce. This information will be used in planning future
health and wellbeing programs.
Dust monitoring was also conducted in the Carpentry power
tool and cutting rooms as part of an ongoing study into dust
exposure.
All HSR’s are encouraged to attend these meetings. Minutes
of the meetings are displayed on safety notice boards across
the Institute as well as being available on the intranet. Safety
is an agenda item at all Institute meetings.
Services Provided in 2012
Influenza Vaccination (voluntary)
300
Audiometric Testing (bi-annual)
28
Silica Health Surveillance (bi-annual)
18
Training
The OHS Advisory team coordinated and implemented a
number of staff training sessions during 2012, with 126 staff
attending. Sessions included First Aid, Emergency Warden
training (incorporating the safe use of newly purchased
emergency safety chairs), Health and Safety Representative
five day training, Refresher Health and Safety Representative
and Refresher Forklift training.
In 2012 the Institute trained 260 First Aiders (an increase of
91 on 2011) and 213 Emergency Wardens, who all provide vital
support to the Institute’s emergency preparedness and response.
Individual Manual Handling and Ergonomic training was conducted
by the OHS Advisory team on a needs basis. Below is a summary
of the number of attendees for each type of training.
Training Course
No of attendees
Emergency Warden
21
First Aid Cert 1 & 2
91
Forklift Refresher Training
12
Health and Safety Rep 5 day course
4
Refresher Health and Safety Representative course
12
44
Health and Wellbeing Programs
Employee health and wellbeing continued to be important in
2012. Information sessions were run throughout the year, with
topics covering nutrition, stress management and diabetes as
well as specific issues associated with men’s and women’s
health and skin cancer checks. Superannuation workshops
and individual advice was also provided to staff by VicSuper
which were well attended.
Occupational Health and Safety Incident Statistics
2009
2010
2011
2012
Total Hazard/Injury reports
362
376
425
300
Staff Hazard/Injury reports
133
121
116
70
Student Hazard/Injury reports
222
247
297
222
Contractor and Visitor Hazard/Injury reports
7
8
12
8
WorkSafe Notifiable Incidents
11
8
7
13
2009
2010
2011
2012
2
3
Cuts with a manual tool
99
124
87
54
Falls/Slips/Trips
50
49
43
32
20
30
27
-
7
Major Injury Categories
Lacerations
Burns
24
Stress
-
-
2
Notifications to WorkSafe 2012
Holmesglen reported 13 serious incidents to WorkSafe in
accordance with the OHS Act 2004. Internal investigations
were carried out to determine causes and following the
investigation corrective actions were instigated to prevent or
reduce the risk of re-occurrence.
In addition, WorkSafe Victoria undertook a Manual Handling
and Plant project focussing on the Chadstone campus in
particular. WorkSafe Inspectors visited a number of times
and four Improvement Notices were issued. All have been
addressed and closed out.
WorkSafe Victoria undertook seven site visits associated with
these incidents, with one improvement notice issued. This was
rectified within the given time frame.
Industrial Relations
54 employees participated in unprotected industrial action
with a loss of 396 hours in October 2012. This was the first
industrial action for a number of years and involved both
teaching and PACCT staff.
Workers Compensation and Injury Management.
2009
2010
2011
2012
Number of WorkCover claims
19
28
27
14
Number of Lost Time Incidents
5
10
8**
3
Days lost due to injury reported injuries
36
520*
100**
322***
* Includes two totally incapacitated staff members
** Revised following claim acceptance in 2012
*** Includes one totally incapacitated staff member
45
Employment and Conduct Principles
Statement on the Application of
Employment and Conduct Principles
Section 8 of the Public Administration Act 2004 requires the
Institute to establish employment processes that will ensure that:
•
•
•
•
Employment decisions are based on merit.
Employees are treated fairly and reasonably.
Equal employment opportunity is provided.
Employees have a reasonable avenue of redress against
unfair or unreasonable treatment.
In 2012, action taken to meet these principles included the
following points.
Merit in Employment
• Employment decisions were based on objective assessment
of applicant’s work related qualities, abilities and potential
against the genuine requirements of the position.
• Decisions to appoint new employees or promote existing
employees were based on competitive selection with
recruitment processes designed to identify a suitable field
of qualified candidates. This included advertising vacancies
to facilitate open competition and the application of
objective selection criteria.
Fair and Reasonable Treatment of Staff
• Decision making processes were fair, accessible and
applied consistently in comparable circumstances.
• Decision making criteria were relevant, objective and readily
available to the people subject to the decision.
• Decisions and actions were free of bias and unlawful
discrimination.
• Documentation was clear and comprehensive, enabling
decisions to be transparent and capable of effective review.
• Through the Holmesglen intranet, staff information booklet
and induction program, employees were made aware of the
Institute’s recruitment process, grievance procedure, equal
employment opportunity policy, sexual harassment policy
and code of conduct.
• Specific training was conducted to refresh the knowledge of
management and staff on legislative changes in this area.
Equal Opportunity
• An EEO policy statement was established, which is now
widely accessible through the intranet, staff information
booklet and induction program and is reflected in all
relevant processes.
• All employment related policies and procedures comply with
applicable equal opportunity laws and support diversity
across the workforce.
• Procedures are in place to notify the Chief Executive of any
discrimination complaints and the findings of associated
investigations.
• Data in relation to implementation of EEO is monitored and
evaluated on a regular basis.
Reasonable Avenue of Redress
• Employment related policies and procedures demonstrated
a commitment to address employee grievances in an
effective and timely manner with the intention of resolving
issues internally and informally, before applying more
formal internal or external processes.
• The grievance review process and the rights and
responsibilities of participants, is available to all employees
through the intranet, staff information booklet and induction
program. The process requires appropriate delegation and
accountability to be assigned to enable grievances to be
effectively considered with reviews based on consideration
of relevant facts and evidence.
• The principles of natural justice and procedural fairness are
required to be applied throughout a review process.
Workforce Data
Staffing details as at 31 December 2012
Actual
Equivalent Full Time
Male
Female
Total
Male
Female
Total
Teaching
(314)
290
(301)
273
(615)
563
(292)
273
(242)
226
(534)
498
Non Teaching
(170)
163
(348)
334
(518)
497
(164)
155
(306)
288
(470)
443
Total
(484)
453
(649)
607
(1133)
1060
(456)
428
(548)
514
(1004)
941
2011 statistics are shown in brackets
Totals are rounded to the nearest whole number
Statistics do not include casual staff
46
Compliance
Freedom of Information Act
Competitive Neutrality
No requests for information under the Act were received in 2012.
Holmesglen continued to comply with the principles of
the National Competition Policy. ‘Competitive Neutrality:
A Statement of Victorian government policy’, ‘Victorian
Government Timetable for the Review of Legislative
Restrictions on Competition’ and any subsequent reforms.
It implemented measures to ensure policy applicable to
commercial activity and to pricing of bids for government
funded education and training advertised for competitive
tender.
Requests for access to records should be directed to Ms
Patricia Farnes, Freedom of Information Manager.
Applicants are required by the Act to submit applications
requesting access to documents in writing. No form of
application is specified. A letter which clearly describes the
documents(s) sought is sufficient.
The letter should specify that the application is a request
made under the Freedom of Information Act 1982 and should
not form part of a letter on another subject. The applicant
should provide the following information:
• Name.
• Address.
• Telephone Number (where applicant can be contacted
during business hours).
• Details of documents(s) requested.
• The form of access required; i.e. copies of documents,
inspection of files or specify any other format.
The Institute fulfilled its obligations and also met its wider
responsibilities to the community by required competitive
neutrality being applied in the public interest.
Risk Management Certification Statement
Whistleblowers Protection Act
I, Bruce Mackenzie, certify that as the 31st December 2012,
Holmesglen Institute of TAFE has risk management processes
in place broadly consistent with the Australian/New Zealand
Standard (or equivalent standard) and an internal control
system is in place that enables the executive to understand,
manage and satisfactorily control risk exposures in significant
respects.
The Institute has an established policy and associated
procedures to ensure application of the requirements of the
Whistleblowers Protection Act 2001.
The Audit and Risk Management Committee verifies this
assurance and that the risk profile of Holmesglen Institute of
TAFE has been critically reviewed in the last 12 months.
The Institute’s policy includes the appointment of the
Chief Executive of the Institute as the Protected Disclosure
Co-ordinator whose role is to receive all correspondence,
telephone calls and emails from whistleblowers. The Policy
also facilitates the appointment of two Protected Disclosure
Officers whose role includes being a contact point for general
advice about the operation of the Act.
Mr Bruce Mackenzie, PSM.
Chief Executive
The Policy also advises individuals that should a person
wishing to lodge a disclosure about improper conduct
or detrimental action by the Institute not wish to submit
a disclosure to the Institute, that person may lodge the
disclosure with the Victorian Ombudsman.
There were no disclosures considered by the Institute in 2012.
47
FINANCIAL
48
VOCATIONAL AND HIGHER EDUCATION FINANCIAL
49
50
51
FINANCIAL STATEMENT
HOLMESGLEN INSTITUTE OF TAFE FINANCIAL STATEMENTS
Comprehensive operating statement for the financial year ended 31 December 2012
Consolidated
Institute
2012
2011
2012
2011
Note
$’000
$’000
$’000
$’000
Government contributions - operating
2(a)(i)
99,495
90,828
99,482
90,828
Government contributions - capital
2(a)(ii)
2,067
9,585
2,067
9,585
2(b)
60,121
65,468
58,042
62,473
Continuing operations
Income from transactions
Sale of goods and services
Interest income
2(c)
2,080
3,201
986
2,777
Other income
2(d)
8,121
7,449
6,917
7,350
171,884
176,531
167,494
173,013
103,113
Total income from transactions
Expenses from transactions
Employee benefits
3(a)
104,859
103,147
104,704
Depreciation and amortisation
3(b)
10,552
9,072
10,552
9,072
Other operating expenses
3(d)
51,861
49,340
48,970
46,081
167,272
161,559
164,226
158,266
4,612
14,972
3,268
14,747
Total expenses from transactions
Net result from transactions (net operating balance)
Other economic flows included in net result
Net gain/(loss) on non-financial assets
4(a)
2,918
(388)
(319)
(150)
Net gain/(loss) on financial instruments and statutory receivables/payables
4(b)
1,665
(1,109)
1,673
(1,109)
4,583
(1,497)
1,354
(1,259)
Total other economic flows included in net result
Net result from continuing operations
9,195
13,475
4,622
13,488
Net result
9,195
13,475
4,622
13,488
16,000
0
16,000
0
Other economic flows – other non-owner changes in equity
Items that will not be reclassified to profit and loss
Changes in physical asset revaluation surplus
17
Items that may be reclassified to profit and loss
Financial assets available-for-sale surplus:
2,752
(2,632)
2,752
(2,632)
Total other economic flows – Other non-owner changes in equity
18,752
(2,632)
18,752
(2,632)
Comprehensive result
27,947
10,843
23,374
10,856
- Gain/(loss) taken to equity
The above balance sheet should be read in conjunction with the accompanying notes.
52
17
BALANCE SHEET
Balance Sheet as at 31 December 2012
Consolidated
Institute
2012
2011
2012
2011
Note
$’000
$’000
$’000
$’000
Assets
Financial assets
Cash and deposits
5
44,293
41,568
23,736
12,859
Receivables
6
7,729
10,582
12,832
18,283
Investments, loans and other financial assets
7
36,253
29,259
31,309
28,259
88,275
81,409
67,877
59,401
9
70
72
70
72
304,589
Total financial assets
Non-financial assets
Inventories
Property, plant and equipment
12
314,364
304,589
314,364
Intangible assets
13
559
0
559
0
Biological assets
8
130
129
130
129
11
27,954
15,532
9,189
2,480
Investment properties
11(a)
2,930
5,900
0
0
10
1,168
1,039
1,123
979
Total non-financial assets
347,175
327,261
325,435
308,249
Total assets
435,450
408,670
393,312
367,650
27,139
23,116
21,945
19,465
Non-current physical assets classified as held-for-sale
Other non financial assets
Liabilities
Payables
14
Borrowings
15
11,857
16,857
0
0
Provisions
16
14,791
14,981
14,789
14,981
53,787
54,954
36,734
34,446
381,663
353,716
356,578
333,204
122,203
113,008
97,118
92,496
Total liabilities
Net assets
Equity
Accumulated surplus/(deficit)
17
Reserves
17
136,653
117,901
136,653
117,901
Contributed capital
17
122,807
122,807
122,807
122,807
381,663
353,716
356,578
333,204
Total worth
Commitments
19 & 20
53
EQUITY STATEMENT
Statement of changes in equity for the year ended 31 December 2012
Changes due to
CONSOLIDATED
Equity at
1 January
2012
Note
Total
Comprehensive
result
Transactions
with owners
in their
capacity as
owners
Equity at
31 December
2012
$’000
$’000
$’000
$’000
113,008
9,195
0
122,203
Accumulated surplus/(deficit) at the end of the year
113,008
9,195
0
122,203
0
0
0
0
Contributed capital
122,807
0
0
122,807
Contribution by owners at the end of the year
122,807
0
0
122,807
Physical assets revaluation reserve
117,310
16,000
0
133,310
Contributions by owners
Financial assets available-for-sale reserve
Total equity at the end of the year
591
2,752
0
3,343
117,901
18,752
0
136,653
353,716
27,947
0
381,663
Total
Comprehensive
result
Transactions
with owners
in their
capacity as
owners
Equity at
31 December
2011
$’000
$’000
$’000
$’000
99,533
13,475
0
113,008
Changes due to
CONSOLIDATED
Equity at
1 January
2011
Note
Adjustment due to change in accounting policy
0
0
0
0
99,533
13,475
0
113,008
0
0
0
0
Contributed capital
122,807
0
0
122,807
122,807
0
0
122,807
117,310
0
0
117,310
3,223
(2,632)
0
591
120,533
(2,632)
0
117,901
342,873
10,843
0
353,716
The above statement of changes in equity should be read in conjunction with the accompanying notes.
54
Statement of changes in equity for the year ended 31 December 2012
INSTITUTE
Equity at
1 January
2012
Total
Comprehensive
result
Transactions
with owners
in their
capacity as
owners
Equity at
31 December
2012
$’000
$’000
$’000
$’000
92,496
4,622
0
97,118
0
0
0
0
92,496
4,622
0
97,118
0
0
0
0
Contributed capital
122,807
0
0
122,807
122,807
0
0
122,807
117,310
16,000
0
133,310
591
2,752
0
3,343
117,901
18,752
0
136,653
333,204
23,374
0
356,578
Equity at
1 January
2011
Total
Comprehensive
result
Transactions
with owners
in their
capacity as
owners
Equity at
31 December
2011
$’000
$’000
$’000
$’000
79,008
13,488
0
92,496
Note
INSTITUTE
Note
0
0
0
0
79,008
13,488
0
92,496
0
0
0
0
Contributed capital
122,807
0
0
122,807
122,807
0
0
122,807
117,310
0
0
117,310
3,223
(2,632)
0
591
120,533
(2,632)
0
117,901
322,348
10,856
0
333,204
The above statement of changes in equity should be read in conjunction with the accompanying notes.
55
CASH FLOW STATEMENT
Cash flow statement for the financial year ended 31 December 2012
Consolidated
Institute
2012
2011
2012
2011
Note
$’000
$’000
$’000
$’000
2(a)
99,482
90,828
99,482
90,828
2(a)ii
2,079
9,585
2,067
9,585
68,271
61,371
65,276
53,847
Cash flows from operating activities
Receipts
Government contributions - operating
Government contributions - capital
User fees and charges received
Goods and services tax recovered from the ATO
6,646
7,782
6,644
7,762
Interest received
2,078
3,196
986
2,777
Dividends received
2,344
3,394
2,213
3,394
7,697
4,537
7,847
6,037
188,597
180,693
184,515
174,230
(158,690)
(156,992)
(154,989)
(155,191)
Other receipts
Total receipts
Payments
Payments to suppliers and employees
(7,204)
(10,187)
(6,644)
(5,316)
(165,894)
(167,179)
(161,633)
(160,507)
22,703
13,514
22,882
13,723
(7,721)
(19,548)
(5,171)
(5,548)
Goods and services tax paid to the ATO
Total payments
Net cash flows from/(used in) operating activities
18
Cash flows from investing activities
Payments for investment
Proceeds from sale of investment
10,627
36,411
5,046
7,228
Payments for non-financial assets
(18,417)
(31,785)
(12,413)
(30,378)
533
449
533
449
(14,978)
(14,473)
(12,005)
(28,249)
Proceeds from sale of non-financial assets
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Repayment of loans
(5,000)
0
0
0
Net cash provided by/(used) in financing activities
(5,000)
0
0
0
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the financial year
Cash and cash equivalents at the end of the financial year
5
2,725
(959)
10,877
(14,526)
41,568
42,527
12,859
27,385
12,859
44,293
41,568
23,736
Financing arrangements
0
0
0
0
Non cash financing and investing activities
0
0
0
0
56
FINANCIAL STATEMENT NOTES
1.0 Statement of significant accounting policies
The annual financial statements represent the audited
general purpose financial statements for Holmesglen
Institute of TAFE and controlled entities Holmesglen
International Training Services Pty. Ltd., and Holmesglen
Foundation and the separate financial statements and
notes of Holmesglen Institute of TAFE as an individual
parent entity (‘Parent Entity’).
These financial statements have been prepared in
accordance with the historical cost convention. Historical
cost is based on the fair values of the consideration given
in exchange for assets.
Exceptions to the historical cost convention include:
• non-financial physical assets which, subsequent to
acquisition, are measured at a revalued amount being
their fair value at the date of the revaluation less any
subsequent accumulated depreciation and subsequent
impairment losses. Revaluations are made with
sufficient regularity to ensure that the carrying amounts
do not materially differ from their fair value;
• the fair value of an asset other than land is generally
based on its depreciated replacement value;
• derivative financial instruments and investment
properties after initial recognition, which are measured
at fair value through profit and loss;
• available-for-sale investments which are measured at
fair value with movements reflected in equity until the
asset is derecognised.
• The accounting policies set out below have been applied
in preparing the financial statements for the year ended
31 December 2012 and the comparative information
presented for the year ended 31 December 2011.
• The following is a summary of the material accounting
policies adopted by the Institute in the preparation of
the financial report. The accounting policies have been
consistently applied unless otherwise stated.
Comprehensive operating statement
Income and expenses in the comprehensive operating
statement are classified according to whether or not they
arise from ‘transactions’ or ‘other economic flows’. This
classification is consistent with the whole of government
reporting format and is allowed under AASB 101.
Presentation of Financial Statements
‘Transactions’ and ‘other economic flows’ are defined by the
Australian System of Government Finance Statistics: Concepts,
Sources and Methods 2005 and Amendments to Australian
System of Government Finance Statistics, 2005 (ABS Catalogue
No. 5514.0) (the GFS manual, refer to Note 44).
1.01 Statement of Compliance
These general purpose financial statements have been
prepared in accordance with the Financial Management Act
1994 (FMA) and applicable Australian Accounting Standards
(AAS) which include interpretations, issued by the Australian
Accounting Standards Board (AASB). In particular, they are
presented in a manner consistent with the requirements
of the AASB 1049 Whole of Government and General
Government Sector Financial Reporting.
Where appropriate, those AAS paragraphs applicable to notfor-profit entities have been applied.
Accounting policies are selected and applied in a manner
which ensures that the resulting financial information
satisfies the concepts of relevance and reliability, thereby
ensuring that the substance of the underlying transactions
or other events is reported.
1.02 Basis of accounting preparation and measurement
The accrual basis of accounting has been applied in the
preparation of these financial statements, except for the
cashflow statement whereby assets, liabilities, equity,
income and expenses are recognised in the reporting
period to which they relate, regardless of when cash is
received or paid.
These financial statements are presented in Australian dollars,
the functional and presentation currency of the Institute.
In the application of AAS, judgements, estimates and
assumptions are required to be made about the carrying
values of assets and liabilities that are not readily apparent
from other sources. The estimates and associated
assumptions are based on professional judgements derived
from historical experience and various other factors that are
believed to be reasonable under the circumstances. Actual
results may differ from these estimates.
The estimates and associated assumptions are reviewed
on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is
revised and also in future periods that are affected by
the revisions. Judgements made by management in the
application of AASs that have significant effects on the
financial statement and estimates, with a risk of material
adjustments in the next year, are disclosed throughout the
notes to the financial statements.
‘Transactions’ are those economics flows that are
considered to arise as a result of policy decisions, usually
interactions between two entities by mutual agreement.
Transactions also include flows within an entity, such as
depreciation where the owner is simultaneously acting as
the owner of the depreciating asset and as the consumer
of the service provided by the asset. Taxation is regarded
as mutually agreed interactions between the Government
and the taxpayers. Transactions can be in kind (e.g. assets
provided/given free of charge or for nominal consideration)
or where the final consideration is cash.
57
‘Other economic flows’ are changes arising from market
remeasurements. They include:
• ●gains and losses from disposals;
• ●revaluations and impairments of non-financial physical
and intangible assets;
• ●actuarial gains and losses arising from the defined
benefit superannuation plans;
• ●fair value changes of financial instruments and
agricultural assets; and
• ●depletion of natural assets (non-produced) from their
use or removal.
The net result is equivalent to profit or loss derived in
accordance with AASs.
Trust Law and the laws governing charitable trusts indicate
that the characteristics of a charitable trust (eg. The
Holmesglen Foundation include independence, public
benefit and being established exclusively for charitable
purposes. The classification of Holmesglen TAFE as
a registered charitable institution with the Australian
Taxation Office (“ATO”) allows it to maintain its eligibility
as a beneficiary of the Foundation. Glenuc Pty Ltd makes
all decisions solely in the interest of the Foundation
and undertakes a separate process of decision making
independent from Holmesglen TAFE Board.
The Holmesglen Board have determined that they do
not legally control the Foundation despite the fact that
Holmesglen Institute of TAFE is the sole beneficiary (whilst
it retains it charity status within the ATO) and has the power
to appoint a future Trustee of the Foundation. Trust law
prohibits Holmesglen Institute of TAFE from appointing itself
as the Trustee.
A list of controlled entities is contained in note 28 in the
financial statements.
As at reporting date, the assets and liabilities of all
controlled entities have been incorporated into the
consolidated financial statements as well as their results
for the year then ended. Where controlled entities have
entered (left) the consolidated group during the year, their
operating results have been included (excluded) from the
date control was obtained (ceased).
All inter-group balances and transactions between entities
in the consolidated group, including any unrealised
profits or losses, have been eliminated on consolidation.
Accounting policies of subsidiaries have been changed
where necessary to ensure consistency with those adopted
by the parent entity.
Minority interests, being that portion of the profit or loss
and net assets of subsidiaries attributable to equity
interests held by persons outside the group, are shown
separately within the Equity section of the consolidated
Balance Sheet and in the consolidated Comprehensive
Operating Statement.
Business combinations
Business combinations occur where control over another
business is obtained and results in the consolidation
of its assets and liabilities. All business combinations,
including those involving entities under common control, are
accounted for by applying the purchase method.
1.03 Reporting entity
The financial statements cover the Holmesglen Institute
of TAFE as an individual reporting entity. The Institute is a
body corporate, established pursuant to an order made by
the Victorian Government under the Education and Training
Reform Act 2006.
Its principal address is:
Holmesglen Institute of TAFE
Cnr Batesford and Warrigal Roads
Holmesglen VIC 3148
1.04 Basis of consolidation
Per AAB 127 Consolidated and Separate Financial
statements, the consolidated financial statements of the
Institute include the assets and liabilities of the Institute’s
subsidiaries as at 31 December 2012, and their income
and expenses for that part of the reporting period in which
control rested.
A controlled entity is any entity over which Holmesglen
Institute of TAFE has the power to govern the financial
and operating policies so as to obtain benefits from its
activities. In assessing the power to govern, the existence
and effect of holdings of actual and potential voting rights
are considered.
The Holmesglen Foundation was included in the
consolidated figures for the first time for the year ended
31st December 2010 as prior to that the Foundation had
not been quantitatively material, for financial reporting
purposes, to the Institute.
The Holmesglen Foundation was settled on 18 December,
2007 and has been registered as a “charitable trust” with
the Australian Taxation Office.
The Trustee of the Holmesglen Foundation (“the Trust”) is
Glenuc Pty Ltd, a company incorporated solely to manage
the affairs of the Trust.
The Foundation has been established to enhance the
student experience by providing financial support for
education and research activities.
58
The purchase method requires an acquirer of the business
to be identified and for the cost of the acquisition and
fair values of identifiable assets, liabilities and contingent
liabilities to be determined as at acquisition date, being the
date that control is obtained. Cost is determined as the
aggregate of fair values of assets given, equity issued and
liabilities assumed in exchange for control together with
costs directly attributable to the business combination.
Any deferred consideration payable is discounted to present
value using the Institute’s incremental borrowing rate.
1.05 Events after reporting date
Assets, liabilities, income or expenses arise from past
transactions or other past events. Where the transactions
result from an agreement between the Institute and
other parties, the transactions are only recognised
when the agreement is irrevocable at or before balance
date. Adjustments are made to amounts recognised in
the financial statements for events which occur after
the reporting date and before the date the statements
are authorised for issue, where those events provide
information about conditions which existed at the reporting
date. Note disclosure is made about events between the
reporting date and the date the statements are authorised
for issue where the events relate to conditions which arose
after the reporting date and which may have a material
impact on the results of subsequent years.
1.06 Goods and Services Tax (GST)
Income, 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 of 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
balance sheet.
Cash flows are included in the cash flow statement on a
gross basis. The GST component of cash flows arising
from investing and financing activities which is recoverable
from, or payable to, the taxation authority is classified as
operating cash flows.
Commitments and contingent assets or liabilities are
presented on a gross basis.
1.07 Income from transactions
Amounts disclosed as income are, where applicable, net
of returns, allowances and duties and taxes. Revenue is
recognised for each of the Institute’s major activities as
follows:
(ii) Fee for service
Fee for service revenue is recognised by reference to the
percentage completion of each contract, i.e. in the reporting
period in which the services are 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 disclosed as
Revenue in Advance.
(iii) Revenue from sale of goods
Revenue from sale of goods is recognised by the Institute when:
(a) the significant risks and rewards of ownership of the goods have transferred to the buyer;
(b) the Institute retains neither continuing managerial
involvement to the degree usually associated with ownership nor effective control over the goods sold;
(c) the amount of revenue can be reliably measured;
(d) it is probable that the economic benefits associated with the transaction will flow to the Institute and;
(e) the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Interest
Interest from cash, short-term deposits and investments is
brought to account on a time proportional basis taking into
account interest rates applicable to the financial assets,
using the effective interest rate method.
Other income
(i) Dividend revenue
Dividend revenue is recognised when the right to receive payment is established.
(ii) Rental income
Rental income is recognised on a time proportional basis and is brought to account when the Institute’s right to receive the rental is established, using the straight line method, where applicable.
Government contributions
Government contributions are recognised as revenue in the
period when the Institute gains control of the contributions.
Control is recognised upon receipt or notification by relevant
authorities of the right to receive a contribution for the
current period.
Sale of goods and services
(i) Student fees and charges
Student fees and charges revenue is recognised by
reference to the percentage of services provided. Where
student fees and charges revenue has been clearly received
in respect of courses or programs to be delivered in the
following year, any non-refundable portion of the fees is
treated as revenue in the year of receipt and the balance as
Revenue in Advance.
Net realised and unrealised gains and losses on the
revaluation of investments do not form part of income from
transactions, but are reported as part of income from other
economic flows in the net result or as unrealised gains
and losses taken direct to equity, forming part of the total
change in net worth in the comprehensive result.
Fair value of assets and services received free of
charge or for nominal consideration
Contributions of resources received free of charge or for
nominal consideration are recognised at their fair value
when the transferee obtains control over them, irrespective
of whether restrictions or conditions are imposed over
the use of the contributions. Contributions in the form
of services are only recognised when a fair value can be
reliably determined and the services would have been
purchased if not donated.
59
1.08 Expenses from transactions
Amortisation
Intangible assets with finite lives are amortised on
a straight line basis over the assets useful lives.
Amortisation begins when the asset is available for use,
that is, when it is in the location and condition necessary
for it to be capable of operating in the manner intended by
management. The amortisation period and the amortisation
method for an intangible asset with a finite useful life
are reviewed at least at the end of each annual reporting
period. In addition, an assessment is made at each
reporting date to determine whether there are indicators
that the intangible asset concerned is impaired. If so, the
assets concerned are tested as to whether their carrying
value exceeds their recoverable amount. Leasehold
improvements are amortised on the shorter period of the
assets useful lives and the lease term.
Intangible assets with indefinite lives are not amortised.
The useful life of intangible assets that are not being
amortised are reviewed each period to determine whether
events and circumstances continue to support an indefinite
useful life assessment for that asset. In addition, the
Institute tests all intangible assets with indefinite lives for
impairment by comparing its recoverable amount with its
carrying amount:
Employee benefits
Expenses for employee benefits are recognised when
incurred, except for contributions in respect of defined
benefit plans.
Retirement benefit obligations
(i) Defined contribution plan
Contributions to defined contribution plans are expensed when they become payable.
(ii) Defined benefit plans
The amount charged to the comprehensive operating statement in respect of superannuation represents
the contributions made by the Institute to the superannuation plan in respect of current services of current Institute’s staff. Superannuation contributions are made to the plans based on the relevant rules of each plan.
The Institute does not recognise any deferred liability in
respect of the plan(s) because the Institute has no legal
or constructive obligation to pay future benefits relating to
its employees; its only obligation is to pay superannuation
contributions as and when they fall due. The Department of
Treasury and Finance recognises and discloses the State’s
defined benefit liabilities in its finance report.
Depreciation
Depreciation is provided on property, plant and equipment,
including freehold buildings but excluding land. Depreciation is
generally calculated on a straight-line basis so as to write off
the net cost or other revalued amount of each asset over its
expected useful life to its estimated residual value. Leasehold
improvements are depreciated over the period of the lease
or estimated useful life, whichever is the shorter, using the
straight-line method. The estimated useful lives, residual
values and depreciation method are reviewed at the end of
each annual reporting period.
Depreciation methods and rates used for each class of
depreciable assets (see table below).
(a) annually;
(b) whenever there is an indication that the intangible asset may be impaired.
Any excess of the carrying amount over the recoverable
amount is recognised as an impairment loss.
Interest Expense
Interest expense is recognised as expenses in the period in
which they are incurred. Interest expense includes interest
on bank overdrafts and short term and long term borrowings,
amortisation of discounts or premiums relating to borrowings,
amortisation of ancillary costs incurred in connection with the
arrangement of borrowings and finance lease charges.
Grants and other transfers
Grants and other transfers to third parties are recognised
as an expense in the reporting period in which they are paid
or payable.
Depreciation methods and rates used for each class of depreciable assets
2012
2011
Method
Rate/Rates
Rate/Rates
Buildings
Straight Line
1.67% to 100%
1.41% to 20%
Computers
Straight Line
14.29% to 50%
14.29% to 50%
Motor vehicles
Straight Line
8.0% to 20%
8.0% to 20%
Class of Asset
Library collections
Straight Line
14.28%
14.28%
Plant and Equipment
Straight Line
3.33% to 100%
1.0% to 50%
The assets’ residual values and useful lives are reviewed and adjusted if appropriate on an annual basis.
60
Supplies and services
Supplies and services expenses are recognised as an
expense in the reporting period in which they are incurred.
The carrying amounts of any inventories held-for-distribution
are expensed when distributed.
Fair value of assets and services provided free of
charge or for nominal consideration
Resources provided free of charge or for nominal
consideration are recognised at their fair value.
carrying amount does not exceed the carrying amount
that would have been determined, net of depreciation or
amortisation, if no impairment loss has been recognised in
prior years.
1.09 Other economic flows included in net result
Other economic flows measure the change in volume
or value of assets or liabilities that do not result from
transactions.
Net gain/(loss) on non-financial assets and liabilities
includes realised and unrealised gains and losses from
revaluations, impairments, and disposals of all physical
assets and intangible assets.
Disposal of non-financial assets
Any gain or loss on disposal of non-financial assets 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.
Gain/(loss) arising from fair value changes of
biological assets
Biological assets are measured at fair value, and the
resultant gain/(loss) is reported as an other economic flow.
Impairment of assets
Goodwill and intangible assets with indefinite useful lives
(and intangible assets not yet available for use) are tested
annually for impairment (i.e. as to whether their carrying
value exceeds their recoverable amount and so require
write downs). All other assets are assessed annually for
indications of impairment, except for:
• Inventories;
• Financial assets;
• Investment property that is measured at fair value;
• Certain biological assets related to agricultural activity;
• Non current assets held for sale.
If there is an indication of impairment, the assets
concerned are tested as to whether their carrying value
exceeds their possible recoverable amount. Where an
asset’s carrying value exceeds its recoverable amount, the
difference is written off by a charge to the comprehensive
operating statement, except to the extent that the write
down can be debited to an asset revaluation reserve
amount applicable to that class of asset.
If there is an indication that there has been a change in the
estimate of an asset’s recoverable amount since the last
impairment loss was recognised, the carrying amount shall
be increased to its recoverable amount. This reversal of the
impairment loss occurs only to the extent that the asset’s
It is deemed that, in the event of the loss or destruction of
an asset, the future economic benefits arising from the use
of the asset will be replaced unless a specific decision to
the contrary has been made.
The recoverable amount for most assets is measured at the
higher of depreciated replacement cost and fair value less
costs to sell. Recoverable amount for assets held primarily
to generate net cash flows is measured at the higher of the
present value of future cash flows expected to be obtained
from the asset and fair value less costs to sell.
Net gain/(loss) on financial instruments
Net gain/(loss) on financial instruments includes realised
and unrealised gains and losses from revaluations of
financial instruments that are designated at fair value
through profit or loss or held-for-trading, impairment
and reversal of impairment for financial instruments at
amortised cost, and disposals of financial assets.
Revaluations of financial instruments at fair value
The revaluation gain/(loss) on financial instruments
at fair value excludes dividends or interest earned on
financial assets, which is reported as part of income from
transactions.
Impairment of financial assets
Financial assets have been assessed for impairment in
accordance with Australian Accounting Standards. Where a
financial asset’s fair value at balance date has reduced by
20% or more than its cost price, or where it’s fair value has
been less that its cost price for a period of 12 months or
more, the financial instrument is treated as impaired.
Bad and doubtful debts are assessed on a regular basis.
Those bad debts considered as written off by mutual
consent are classified as a transaction expense. The
allowance for doubtful receivables and bad debts not
written off by mutual consent are adjusted as ‘other
economic flows’.
Other gains/(losses) from other economic flows
Other gains/(losses) from other economic flows include
the gains or losses from reclassifications of amounts from
reserves and/or accumulated surplus to net result, and
from the revaluation of the present value of the long service
leave liability due to changes in the bond interest rates.
1.10 Financial assets
Cash and deposits
Cash and deposits, including cash equivalents, comprise
cash on hand and cash at bank, deposits at call and
highly liquid investments with an original maturity of three
months or less, which are held for the purpose of meeting
short term cash commitments rather than for investment
purposes, and which are readily convertible to known
61
amounts of cash and are subject to an insignificant risk of
changes in value. For the cash flow statement presentation
purposes, cash and cash equivalents includes bank
overdrafts, which are included as borrowings on the balance
sheet.
Loans and Receivables
Loans and receivables consist of:
• statutory receivables, which include predominately
amounts owing from the Victorian Government and GST
input tax credits recoverable; and
• contractual loans and receivables, which include mainly
debtors in relation to goods and services, loans to third
parties, accrued investment income, and finance lease
receivables.
• Loans and receivables that are contractual are
classified as financial instruments. Statutory loans and
receivables are not classified as financial instruments.
• Loans and receivables are recognised initially at fair
value and subsequently measured at amortised cost,
using the effective interest rate method, less an
allowance for impairment.
• A provision for doubtful loans and receivables is made
when there is objective evidence that the debts may
not be collected and bad debts are written off when
identified.
Investments and other financial assets
Investments are classified in the following categories;
• financial assets at fair value through profit or loss,
• loans and receivables, and
• available for sale financial assets.
Impairment of Financial Assets
At the end of each reporting period, the Institute assesses
whether there is objective evidence that a financial
asset or group of financial assets is impaired. Objective
evidence includes financial difficulties of the debtor, default
payments, debts which are more than 60 days overdue, and
changes in debtor credit ratings. All financial instrument
assets, except those measured at fair value through profit
and loss, are subject to annual review for impairment.
The amount of the allowance is the difference between the
financial asset’s carrying amount and the present value of
estimated future cash flows, discounted at the effective
interest rate.
In assessing impairment of statutory (non-contractual)
financial assets, which are not financial instruments,
professional judgement is applied in assessing materiality
using estimates, averages and other computational
methods in accordance with AASB 136 Impairment of
Assets.
1.11Leases
A lease is a right to use an asset for an agreed period of
time in exchange for payment.
Leases are classified at their inception as either operating
or finance leases based on the economic substance of the
agreement so as to reflect the risks and rewards incidental
to ownership. Leases of property , plant and equipment
are classified as finance infrastructure leases whenever the
terms of the lease transfer substantially all the risks and
rewards of ownership from the lessor to the lessee. All
other leases are classified as operating leases.
Finance leases
Institute as lessor
Amounts due from lessees under finance leases are
recorded as receivables. Finance lease receivables are
initially recorded at amounts equal to the present value of
the minimum lease payments receivable plus the present
value of any unguaranteed residual value expected to
accrue at the end of the lease term. Finance lease receipts
are apportioned between periodic interest income and
reduction of the lease receivable over the term of the lease
in order to reflect a constant periodic rate of return on the
net investment outstanding in respect of the lease.
Institute as lessee
At the commencement of the lease term finance leases
are initially recognised as assets and liabilities at amounts
equal to the fair value of the lease property or, if lower,
the present value of the minimum lease payment, each
determined at the inception of the lease. The lease asset
is depreciated over the shorter of the estimated useful life
of the asset or the term of the lease.
The classification depends on the purpose for which the
investments were acquired. Management determines the
classification of its investments at initial recognition.
Any dividend or interest earned on the financial asset is
recognised in the comprehensive operating statement as a
transaction.
Derecognition of financial assets
A financial asset (or, where applicable, a part of a financial
asset or part of a group of similar financial assets) is
derecognised when:
• the rights to receive cash flows from the asset have
expired; or
• the Institute retains the right to receive cash flows from
the asset, but has assumed an obligation to pay them in
full without material delay to a third party under a ‘pass
through’ arrangement; or
• the Institute has transferred its rights to receive cash
flows from the asset and either:
(a) has transferred substantially all the risks and
rewards of the asset, or
(b) has neither transferred nor retained substantially
all the risks and rewards of the asset, but has
transferred control of the asset.
Where the Institute has neither transferred nor retained
substantially all the risks and rewards or transferred
control, the asset is recognised to the extent of the
Institute’s continuing involvement in the asset.
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Operating leases
Institute as lessee
Operating lease payments, including any contingent rentals,
are recognised as an expense in the comprehensive
operating statement on a straight-line basis over the lease
term, except where another systematic basis is more
representative of the time pattern of the benefits derived
from the use of the leased asset. The leased asset is not
recognised in the balance sheet.
All incentives for the agreement of a new or renewed operating
lease are recognised as an integral part of the net consideration
agreed for the use of the leased asset, irrespective of the
incentive’s nature or form or timing of payments.
All non-financial physical assets, are measured initially
at cost and subsequently revalued at fair value less
accumulated depreciation and impairment.
The initial cost for non-financial physical assets under a
finance lease is measured at amounts equal to the fair
value of the leased asset or, if lower, the present value
of the minimum lease payments, each determined at the
inception of the lease.
Institute as lessor
Rental Income from operating lease is recognised on a
straight line basis over the term of the rental lease.
1.12 Non-Financial Assets
Inventories
Inventories include goods and other property held either for
sale or for distribution at no or nominal cost in the ordinary
course of business operations. It includes land held-for-sale
and excludes depreciable assets.
The fair value of land and buildings and plant, equipment
and vehicles, is normally determined by reference to
the asset’s depreciated replacement cost. For plant,
equipment and vehicles, existing depreciated historical cost
is generally a reasonable proxy for depreciated replacement
cost because of the short lives of the assets concerned.
Inventories held-for-distribution are measured at cost,
adjusted for any loss of service potential. All other
inventories, including land held for sale, are measured at
the lower of cost and net realisable value.
The basis used in assessing loss of service potential for
inventories held-for-distribution include current replacement
cost and technical or functional obsolescence. Technical
obsolescence occurs when an item still functions for
some or all of the tasks it was originally acquired to do,
but no longer matches existing technologies. Functional
obsolescence occurs when an item no longer functions the
way it did when it was first acquired.
Inventories acquired for no cost or nominal consideration are
measured at current replacement cost at the date of acquisition.
Non-current physical assets classified as held-for-sale,
including disposal group assets
Non-current physical assets (including disposal group
assets) are treated as current and classified as held for
sale if their carrying amount will be recovered through a
sale transaction rather than through continuing use.
This condition is regarded as met only when:
• the asset is available for immediate use in the current
condition; and
• the sale is highly probable and the asset’s sale is
expected to be completed within twelve months from the
date of classification.
These non-financial physical assets, related liabilities and
financial assets are measured at the lower of carrying amount
and fair value less costs to sell, and are not subject to
depreciation or amortisation.
Where an asset is received for no or nominal consideration,
the cost is the asset’s fair value at the date of acquisition.
The fair value of cultural assets that the Institute intends
to preserve because of their unique historical, cultural or
environmental attributes, is measured at the replacement
cost of the asset less, where applicable, accumulated
depreciation (calculated on the basis of such cost to reflect
the already consumed or expired future economic benefits of
the asset) and any accumulated impairment. These policies
and any legislative limitations and restrictions imposed on
their use and/or disposal may impact their fair value.
For the accounting policy on impairment of non-financial physical
assets refer to Note on Impairment of non-financial assets.
Library collections
Library collections are measured at cost less accumulated
depreciation.
Leasehold improvements
The cost of leasehold improvements is capitalised as an
asset and depreciated over the remaining term of the lease
or the estimated useful life of the improvements, whichever
is the shorter.
Restrictive nature of cultural and heritage assets,
Crown land and infrastructures
The Institute holds cultural assets which are deemed
worthy of preservation because of the social rather
than financial benefits they provide to the community.
Consequently, there are certain limitations and restrictions
imposed on their use and/or disposal.
Revaluations of non-current physical assets
Non-current physical assets measured at fair value are
revalued in accordance with FRDs issued by the Minister
for Finance. This revaluation process normally occurs
every five years, based upon the asset’s Government
Purpose Classification, but may occur more frequently if fair
value assessments indicate material changes in values.
Revaluation increases or decreases arise from differences
between an asset’s carrying value and fair value.
63
A revaluation was completed in 2012. Valuers were
appointed by the Valuer General of Victoria. Land and
Buildings were valued by Charter Keck Cramer at fair value
as at 31 December 2012, as detailed in their report dated
7 January 2013.
Revaluation increases are credited directly to equity in the
revaluation reserve, except to the extent that an increase
reverses a revaluation decrease in respect of that class of
property, plant and equipment, previously recognised as
an expense (other economic flows) in the net result, the
increase is recognised as income (other economic flows) in
determining the net result.
Revaluation decreases are recognised immediately as
expenses (other economic flows) in the net result, except
to the extent that a credit balance exists in the revaluation
reserve in respect of the same class of property, plant and
equipment, they are debited to the revaluation reserve.
Revaluation increases or revaluation decreases relating
to individual assets within a class of property, plant and
equipment are offset against one another within that class
but are not offset in respect of assets in different classes.
1.13Liabilities
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.
Biological assets
Bloodstock
Bloodstock is measured at fair value less estimated
point of sale costs. A valuation was received from Elders
Limited, Registered Office 27 Currie Street, Adelaide, SA,
ABN 72 004 045 121.
Investment properties represent properties held to earn
rentals or for capital appreciation or both. Investment
properties exclude properties held to meet service delivery
objectives of the Institute.
Investment properties are initially recognised at cost.
Costs incurred subsequent to initial acquisition are
capitalised when it is probable that future economic
benefits in excess of the originally assessed performance
of the asset will flow to the Institute.
Subsequent to initial recognition at cost, investment
properties are re-valued to fair value with changes in the
fair value recognised as income or expenses in the period
in which they arise. The properties are not depreciated.
Rental income from the leasing of investment properties is
recognised in the comprehensive operating statement on a
straight-line basis, over the lease term.
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Intangibles
Intangible assets represent identifiable non-monetary
assets without physical substance. Intangible assets are
recognised at cost. Subsequently, intangible assets with
finite useful lives are carried at cost less accumulated
amortisation and accumulated impairment losses. Costs
incurred subsequent to initial acquisition are capitalised
when it is expected that additional future economic benefits
will flow to the Institute.
Payables
Payables consist of:
• contractual payables, such as accounts payable, and
unearned income. Accounts payable represent liabilities
for goods and services provided to the Institute prior to
the end of the financial year that are unpaid, and arise
when the Institute becomes obliged to make future
payments in respect of the purchase of those goods and
services; and
• statutory payables, such as goods and services tax and
fringe benefits tax payable.
Contractual payables are classified as financial instruments and
categorised as financial liabilities at amortised cost. Statutory
payables are recognised and measured similarly to contractual
payables, but are not classified as financial instruments and not
included in the category of financial liabilities at amortised cost,
because they do not arise from a contract.
Provisions
Provisions are recognised when the Institute has a present
obligation, the future sacrifice of economic benefits is probable,
and the amount of the provision can be measured reliably.
The amount recognised as a provision is the best estimate
of the consideration required to settle the present
obligation at reporting date, taking into account the risks
and uncertainties surrounding the obligation. Where a
provision is measured using the cashflows estimated to
settle the present obligation, its carrying amount is the
present value of those cashflows.
Employee benefits
The calculation of employee benefits includes all relevant
on-costs and are calculated as follows at reporting date.
(i) Wages and salaries and annual leave
Liabilities for wages and salaries, including nonmonetary benefits and annual leave expected to be
settled within 12 months of the reporting date are
recognised in the provision for employee benefits in
respect of employee services up to the reporting date,
classified as current liabilities and measured at their
nominal values.
Liabilities that are not expected to be settled within
12 months of the reporting date are recognised in the
provision for employee benefits as current liabilities,
measured at present value of the amounts expected
to be paid when the liabilities are settled using the
remuneration rate expected to apply at the time of
settlement.
(ii) Long service leave
Liability for long service leave (LSL) is recognised in the
provision for employee benefits.
Current Liability - unconditional LSL representing 7 years
service is disclosed as a current liability even when the
Institute does not expect to settle the liability within 12
months because it will not have the unconditional right to
defer settlement of the entitlement should an employee
take leave within 12 months.
The components of this current liability are measured at :
• present value - component that is not expected to be
settled within 12 months
• nominal value - component that is expected to be
settled within 12 months
Non current liability - conditional LSL representing less
than 7 years service is disclosed as a non - current
liability. There is an unconditional right to defer
settlement of the entitlement until the employee has
completed the requisite years of service.
This non-current LSL liability is measured at present
value. Gain or loss following revaluation of the present
value of non-current LSL liability due to changes in bond
interest rates is recognised as an other economic flow.
(iii) Termination benefits
Termination 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 Institute 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 more than 12 months after balance
sheet date are discounted to present value.
Employee benefits on-costs
Employee benefits on-costs (payroll tax, workers
compensation, superannuation, annual leave and long
service leave accrued while on LSL taken in service) are
included in the provision for employee benefits.
Performance Payments
Performance payments for TAFE Executive Officers are
based on a percentage of the annual salary package
provided under the contract of employment. A liability is
provided for under the term of the contracts at reporting
date and paid out in the next financial year.
Borrowings
Borrowings are initially measured at fair value, being the cost
of the interest bearing liabilities, net of transactions costs.
Subsequent to initial recognition, borrowings are measured
at amortised cost with any difference between the initial
recognised amount and the redemption value being recognised
in the statement of comprehensive income over the period of
the borrowing using the effective interest rate method.
Financial liabilities
Non-derivative financial liabilities (excluding financial
guarantees) are subsequently measured at amortised cost
using the effective interest rate method.
1.14 Commitments
Commitments include those operating, capital and other
outsourcing commitments arising from non-cancellable
contractual or statutory sources and are disclosed at their
nominal value and inclusive of the GST payable.
1.15 Contingent assets and contingent liabilities
Contingent assets and contingent liabilities are not
recognised in the balance sheet, but are disclosed by way
of a note (refer note 21) and, if quantifiable, are measured
at nominal value. Contingent assets and contingent
liabilities are presented inclusive of the GST receivable or
payable respectively.
1.16Equity
Contributed capital
Funding that are in the nature of contributions by the
State government are treated as contributed capital when
designated in accordance with UIG Interpretation 1038
Contribution by Owners Made to Wholly-Owned Public Sector
Entities. Commonwealth capital funds are not affected and
are treated as income.
1.17 Foreign currency translations
Functional and presentation currency
The functional currency of each group entity is measured
using the currency of the primary economic environment
in which that entity operates. The Institute’s financial
statements are presented in Australian dollars which is the
functional and presentation currency.
Transactions and balances
Foreign currency transactions are translated into functional
currency using the exchange rates prevailing at the date
of the transaction. Foreign currency monetary items are
translated at the year end exchange rate. Non-monetary
items measured at historical cost continue to be carried
at the exchange rate at the date of the transaction.
Non-monetary items measured at fair value are reported
at the exchange rate at the date when fair values were
determined.
Exchange differences arising on the translation of monetary
items are recognised in the comprehensive operating
statement in the period in which they arise, except
where deferred in equity as a qualifying cash flow or net
investment hedge.
Exchange difference arising on the translation of nonmonetary items are recognised directly in equity to the
extent that the gain or loss is directly recognised in equity,
otherwise the exchange difference is recognised in the
comprehensive operating statement.
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Group entities
The financial results and position of foreign operations
whose functional currency is different from the group’s
presentation currency are translated as follows:
• Assets and liabilities are translated at year-end exchange
rates prevailing at that reporting date.
• Income and expenses are translated at average
exchange rates for the period.
Exchange differences arising on translation of foreign
operations are recognised as a separate component
of equity. When a foreign operation is sold or any
borrowings forming part of the net investment are repaid,
a proportionate share of such exchange differences are
recognised in the comprehensive operating statement as
part of the gain or loss on sale where applicable.
1.19 Rounding of amounts
Amounts in the financial report have been rounded to the
nearest thousand dollars, unless otherwise stated.
1.20 Comparative information
When required by Accounting Standards, comparative
figures have been adjusted to conform to changes in
presentation for the current financial year.
1.21 Change in accounting policy
The Institute had no changes for the financial year ending
31 December 2012.
1.22 New accounting standards and interpretations
1.18Materiality
In accordance with Accounting Standard AASB1031
‘Materiality’, accounting policies need only be identified
in the summary of accounting policies where they
are considered ‘material’. Accounting policies will be
considered material if their omission, misstatement or nondisclosure has the potential, individually or collectively, to:
(a) influence the economic decisions of users taken on the
basis of the financial report; and
(b) affect the discharge of accountability by the
management or governing body of the entity.
Certain new accounting standards and interpretations
have been published that are not mandatory for the 31
December 2012 reporting period.
As at 31 December 2012, the following standards and
interpretations (applicable to the Institute) had been
issued but were not mandatory for financial year ending 31
December 2012. The Institute has not, and does not intend
to, adopt these standards early (See table below).
Amending Pronouncements
and Errata
Standards
Affected
Outline of Amendment
Application date
of standard
Impact on financial
statements
AASB 9 Financial
Instruments.
AASB 139
Financial
Instruments:
Recognition and
Measurement
This standard simplifies requirements
for the classification and measurement
of financial assets resulting from Phase
1 of the IASB’s project to replace IAS 39
Financial Instruments: Recognition and
Measurement
Reporting periods
beginning on 1
January 2013.
Detail of impact is still
being assessed
AASB 1053
Application of Tiers of
Australian Accounting
Standards.
This standard establishes a differential
financial reporting framework consisting
of two tiers of reporting requirements
for preparing general purpose financial
statements.
Reporting periods
beginning on 1 July
2013.
The Victorian
Government is currently
considering the impacts
of reduced disclosure
requirements (RDRs)
for certain public sector
entities and has not
decided if RDRs will
be implemented in the
Victorian public sector.
AASB 2010 2
Amendments to
Standards arising
from Reduced
Disclosure
Requirements.
These amendments introduce reduced
disclosure requirements for application by
certain types of entities
Reporting periods
beginning on 1 July
2013.
The amendments do
not affect financial
measurement or
recognition and are
not expected to have
any impact on financial
result or position.
This relates to the introduction of AASB 9
Financial instruments.
Reporting periods
beginning on 1
January 2013.
Detail of impact is still
being assessed.
AASB 2010 7
Amendments to
Standards arising
from AASB 9
(December 2010)
66
AASB 1, 3,
4, 5, 7, 101,
102, 108, 112,
118, 120, 121,
127, 128, 131,
132, 136, 137,
139, 1023
and 1038 and
Interpretations
2, 5, 10, 12, 19
and 127
Amending Pronouncements
and Errata
Standards
Affected
Outline of Amendment
Application date
of standard
Impact on financial
statements
AASB 2011 2
Amendments to
Standards arising
from the Trans
Tasman Convergence
Project – Reduced
Disclosure
Requirements
AASB 101 and
AASB 1054
The objective of this amendment is to
include some additional disclosure from
the Trans Tasman Convergence Project
and to reduce disclosure requirements
for entities preparing general purpose
financial statements under Australian
Accounting Standards – Reduced
Disclosure Requirements (RDRs).
Reporting periods
beginning on 1
January 2013.
The Victorian
Government is currently
considering the impacts
of RDRs and has not
decided if they will be
implemented in the
Victorian public sector.
AASB 2011 3
Amendments to
Standards – Orderly
Adoption of Changes
to the ABS GFS
Manual and Related
Amendments
AASB 1049
This amends AASB 1049 to clarify the
definition of the ABS GFS Manual, and to
facilitate the adoption of changes to the
ABS GFS Manual and related disclosures.
This amendment provides clarification to
users on the version of the GFS Manual to
be used and what to disclose if the latest
GFS Manual is not used.
Reporting periods
beginning on 1 July
2012.
There will be no impact
on performance
measurement.
AASB 2012 10
Consolidated
Financial Statements
AASB 127
The standard introduces a single definition
of control that applies to all entities. It
focuses on the need to have both power
and rights or exposure to variable returns.
Reporting period
on 1 January 2013
Details of impact are
still being assessed.
AASB 2011 7
Amendments to
Australian
Accounting Standards
arising from the
Consolidation and
Joint Arrangements
Standards
AASB 1, 2,
3, 5, 7, 101,
107, 112, 118,
121, 124, 132,
133, 136, 138,
139, 1023
& 1038 and
Interpretations 5,
9, 16 & 17]
This compilation is not a separate
Accounting Standard made by the AASB.
Instead, it is a representation of AASB
2011-7 (August 2011) as amended by
other Accounting Standards,
Reporting period
on 1 January 2013
AASB 2012 2
Amendments to
Standards
- Disclosures Offsetting Financial
Assets and Financial
Liabilities
AASB 7,
AASB 132
This Standard amends the required
disclosures in AASB 7 to include
information that will enable users of an
entity’s financial statements to evaluate
the effect or potential effect of netting
arrangements, including rights of set-off
associated with the entity’s recognised
financial assets and recognised financial
liabilities, on the entity’s financial position.
This Standard also amends AASB 132 to
refer to the additional disclosures added
to AASB 7 by this Standard. A subsequent
Standard will establish reduced disclosure
requirements for entities preparing
general purpose financial statements
under Australian Accounting Standards
– Reduced Disclosure Requirements in
relation to the disclosures added to AASB
7 by this Standard.
Reporting period
on 1 January 2013
AASB 2012 13 Fair
Value Measurement
AASB 8
The standard explains how to measure
fair value and aims to enhance fair value
disclosures.
Reporting period
on 1 January 2013
AASB 2011 8
Amendments to
Standards arising
from AASB 13
AASB 13
AASB 13 establishes a new definition
of ‘fair value’ and general requirements
when measuring the fair value of assets
and liabilities. This Standard replaces the
existing definition and fair value guidance
in other Australian Accounting Standards
and Interpretations.
Reporting period
on 1 January 2013
67
HOLMESGLEN INSTITUTE OF TAFE Notes to the financial statements
Consolidated
Note
2.0
(a)
Grants and other transfers (other than contributions by owners)
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Government financial assistance
(i) Government contributions - operating
0
17
0
17
State government recurrent specific funded programs
87,824
78,912
87,824
78,912
Commonwealth government specific funded programs
10,146
5,287
10,146
5,287
Commonwealth government recurrent specific funded programs
Other contributions
Other contributions (HESG Vic)
26
9
13
9
1,499
6,603
1,499
6,603
99,495
90,828
99,482
90,828
(ii) Government contributions - capital
Commonwealth capital (funding from DEEWR)
Commonwealth capital (funding from HESG Vic)
State capital
Total government financial assistance
(b)
0
7,250
0
7,250
1,440
1,525
1,440
1,525
627
810
627
810
2,067
9,585
2,067
9,585
101,562
100,413
101,549
100,413
10,512
7,561
10,512
7,561
3,632
2,640
3,632
2,640
33,765
Sales of goods and services
Student fees and charges
Rendering of services
Fee for service - Government
Fee for service - International operations - onshore
26,079
33,765
26,079
Fee for service - International operations - offshore
3,605
2,129
1,900
0
Fee for service - other
9,991
11,292
9,991
11,292
53,819
57,387
52,114
55,258
6,302
8,081
5,928
7,215
Total rendering of services
Other non-course fees and charges
Other sales of goods and services
Total other fees and charges
Total revenue from sale of goods and services
(c)
6,302
8,081
5,928
7,215
60,121
65,468
58,042
62,473
Interest
Interest from financial assets not at fair value through P/L:
(d)
- Interest on bank deposits
2,080
3,201
986
2,777
Net interest income
2,080
3,201
986
2,777
Other income
Rental revenue:
775
742
131
143
- Other (accommodation, room rental etc.)
1,827
1,265
1,827
1,265
Total rental revenue
2,602
2,007
1,958
1,408
- Other entities
2,344
3,394
2,213
3,394
Total Dividends
2,344
3,394
2,213
3,394
660
98
86
98
Other (car parking fees, management fees etc)
2,515
1,950
2,660
2,450
Total other income
8,121
7,449
6,917
7,350
- Investment properties
Dividends:
Donations, bequests and contributions
68
Consolidated
Note
3.0
(a)
Employee expenses
Salaries, wages, overtime and allowances
Superannuation
2012
2011
2012
2011
$’000
$’000
$’000
$’000
90,417
88,330
90,291
88,301
7,094
7,246
7,073
7,241
Payroll tax
4,349
4,464
4,343
4,464
Long service leave
2,192
2,447
2,190
2,447
26
10
26
10
Annual leave
(b)
Institute
Other salary related costs
781
650
781
650
Total employee benefits
104,859
103,147
104,704
103,113
Depreciation of non-current assets
Buildings
6,153
5,297
6,153
5,297
Plant and equipment
3,062
3,039
3,062
3,039
364
0
364
0
Cultural assets
2
2
2
2
Motor Vehicles
502
522
502
522
Leasehold improvement
Library collections
Total depreciation
224
212
224
212
10,307
9,072
10,307
9,072
Amortisation of non-current assets
Computer Software
245
0
245
0
Total amortisation
245
0
245
0
10,552
9,072
10,552
9,072
Total depreciation and amortisation
(c)
(d)
Interest Expense Costs
Interest Expense on Borrowings
1,232
1,443
0
0
Total Interest Expense
1,232
1,443
0
0
4,205
4,858
4,197
4,854
Supplies and services:
- Purchase of supplies and consumables
913
1,047
911
1,043
- Utilities
2,260
2,061
2,221
2,004
- Minor equipment
3,739
4,933
3,739
4,933
- Fees and charges
7,741
8,609
6,717
6,948
192
161
176
142
17,442
12,326
17,128
12,048
- Communication expenses
- Audit fees and services
- Contract and other services
- Travel and motor vehicle expenses
1,571
2,137
1,527
1,653
- Building repairs and maintenance
2,107
3,388
2,095
3,382
121
134
121
134
2,085
2,039
2,085
2,039
935
1,221
935
1,221
3,794
2,391
3,594
3,088
47,105
45,305
45,446
43,489
2,992
1,953
2,992
1,953
- Grants and subsidies apprentices and trainees
- Marketing and promotional expenses
- Staff development
- Other
Total supplies and services
Operating lease rental expenses:
- Minimum lease payments
Total operating lease rental expenses
Subtotal
Bad debts from transactions
Cost of goods sold/distributed (ancillary trading)
Total other operating expenses including interest expense costs
2,992
1,953
2,992
1,953
51,329
48,701
48,438
45,442
41
21
41
21
491
618
491
618
51,861
49,340
48,970
46,081
69
Consolidated
Note
4.0
(a)
Revaluation of investment properties
Revaluation of cultural assets
Net gain/(loss) on disposal of physical assets
Net FX gain/(loss) arising from non-financial assets
Total net gain/(loss) on non-financial assets and liabilities
(b)
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
235
(747)
145
55
153
0
153
0
2,541
364
(606)
(200)
(11)
(5)
(11)
(5)
2,918
(388)
(319)
(150)
Net gain/(loss) on financial instruments and statutory
Impairment of:
518
(344)
526
(344)
Impairment write back of financial assets at fair value
1,500
1,000
1,500
1,000
Impairment of financial assets at fair value
(353)
(1,765)
(353)
(1,765)
Total net gain/(loss) on financial instruments
1,665
(1,109)
1,673
(1,109)
Net gain/(loss) on disposal of financial investments
Consolidated
Note
5.0
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Cash and deposits
Cash at bank and on hand
3,061
3,768
2,136
2,759
Australian Deposits at call
41,232
37,800
21,600
10,100
Total cash and deposits
44,293
41,568
23,736
12,859
44,293
41,568
23,736
12,859
0
0
0
0
44,293
41,568
23,736
12,859
(a) Reconciliation to cash at the end of the year
The above figures are reconciled to cash at the end of the financial
year as shown in the cash flow statement as follows:
Balances as above
Less Bank overdraft
Balance as per cashflow statement
(b) Cash at bank and on hand
These are non interest bearing.
(c) Deposits at call
The deposits are interest bearing floating rates between 4.20 %
and 5.25 % (2011 5.15% and 6.25%).
These deposits have an average maturity of 60 days.
70
Consolidated
Note
6.0
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
2,444
2,350
1,662
1,591
363
272
365
265
4,895
7,859
4,805
7,777
Receivables
Current receivables
Contractual
Other receivables (a)
Other
Revenue receivable
Amount receivable from:
- related parties (b)
0
0
6,000
8,550
7,702
10,481
12,832
18,183
Statutory
GST receivable from ATO
Total current receivables
27
101
0
100
7,729
10,582
12,832
18,283
(a) The average credit period on sales of goods/and or services is 30 days.
(b) Loans to Holmesglen International Training Services Pty Ltd are
repayable on demand. However, payment is not expected within
12 months after the reporting date. Refer to note 30 for ageing analysis
of contractual receivables, as well as the nature and extent of risks arising
from contractual receivables.
Consolidated
Note
7.0
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Non-current investments, loans and other financial assets
Equities and managed investment schemes:
Australian listed equity securities
Fixed Interest bearing bills, bonds/Term Deposits
31,753
22,759
27,809
22,759
31,753
22,759
27,809
22,759
1,000
3,000
0
2,000
Other
3,500
3,500
3,500
3,500
Total non-current investments, loans and other financial assets
36,253
29,259
31,309
28,259
Total investments, loans and other financial assets
36,253
29,259
31,309
28,259
Loan Carrick Institute of Education (a)
(a) The above investment loan was impaired by $3.000 Million as at 31/12/10. The balance of this loan is expected to be
repaid by 31/12/15 in accordance with the loan executed with Carrick (Kaplan) Institute of Education. The loan is interest free.
Refer to note 30 for ageing analysis of investments, loans and other financial assets, as well as the nature and extent of risks
arising from investments, loans and other financial assets.
71
Consolidated
Note
8.0
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Biological assets
Consumable assets
Immature assets
Value of natural increases and purchases
Cattle
48
27
48
27
48
27
48
27
81
102
81
102
Mature assets
Biologically transformed and marketable assets
Cattle
81
102
81
102
Total consumable assets
129
129
129
129
Quantities
Qty
Qty
Qty
Qty
Cattle
118
131
118
131
Total quantity of consumable assets
118
131
118
131
Output
No.
No.
No.
No.
Natural increase
Cattle
42
37
42
37
Total quantity of output
42
37
42
37
1
4
1
4
Bearer assets
Mature assets
Angus bull
Total bearer assets
Quantities
Angus bull
1
4
1
4
Qty
Qty
Qty
Qty
1
1
1
1
1
1
1
1
129
58
129
58
0
44
0
44
42
27
42
27
(41)
0
(41)
0
Biological assets
Reconciliation of changes in carrying
amount of biological assets
Carrying amount at 1 January
Increases due to:
- Purchases
- Births
Decreases attributable to:
- Sales
- Deaths
0
0
0
0
Other
0
0
0
0
130
129
130
129
Carrying amount at 31 December
As at 31 December 2012 , the Institute had no contracts for the acquisition of breeding livestock.
The cattle are kept for breeding purposes and were valued by Elders Limited as at 31 December 2012 at fair value.
72
Consolidated
2011
2012
2011
$’000
$’000
$’000
$’000
Supplies and consumables - at cost
70
72
70
72
Total current inventories
70
72
70
72
Note
9.0
Institute
2012
Inventories
Current
10
Other assets
Current other assets
11
Prepayments
1,168
1,039
1,123
979
Total current other assets
1,168
1,039
1,123
979
Total other assets
1,168
1,039
1,123
979
Opening balance at 1 January
15,532
29,510
2,480
2,425
Acquisitions
12,187
0
6,564
0
0
(14,040)
0
0
At Fair value
Disposals and property held for sale
Net gain/ (loss) from fair value adjustments
Closing balance at 31 December
11(a)
235
62
145
55
27,954
15,532
9,189
2,480
Non-current physical assets classified as held-for-sale
5,900
0
0
0
(2,970)
5,900
0
0
2,930
5,900
0
0
Rental income
775
742
131
143
Total recognised in profit and loss
775
742
131
143
Opening balance at 1 January (Land and Buildings)
Disposals
Closing balance at 31 December
(b) Amounts recognised in profit and loss for investment properties
(c) The Institute Investment properties were revalued Charter Keck Cramer at fair value as of 31 December 2012, with the
resultant increase of $145,000 taken to the comprehensive income statement
73
Motor Vehicles
Library
Computer
Equipment
Total
10,343
Cultural Assets
3,810
Plant &
Equipment
$’000
Construction in
progress
$’000
Leasehold
Improvement
12
Buildings
Consolidated
Land
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
28,950
0
0
2,854
3,241
13,221
62,419
At 1 January 2011
- Cost
- Valuation
Accumulated depreciation
Net book amount
49,834
189,396
0
14,626
162
0
0
0
254,018
0
(12,646)
0
(8,675)
0
(1,068)
(2,623)
(7,523)
(32,535)
53,644
187,093
28,950
5,951
162
1,786
618
5,698
283,902
Year ended 31 December
2011
53,644
187,093
28,950
5,951
162
1,786
618
5,698
283,902
Additions
Opening net book amount
0
36,452
17,435
1,124
51
667
282
1,050
57,061
Disposals
0
(255)
0
(1)
0
(392)
0
0
(648)
Net revaluation
increments/ decrements
0
0
0
0
0
0
0
0
0
Transfer to assets
classified as held for sale
0
0
0
0
0
0
0
0
0
Impairment loss charged to
net result
0
0
0
0
0
0
0
0
0
Depreciation expense
0
(5,297)
0
(1,470)
(2)
(522)
(212)
(1,569)
(9,072)
0
0
(26,654)
0
0
0
0
0
(26,654)
53,644
217,993
19,731
5,604
211
1,539
688
5,179
304,589
3,810
46,298
19,731
0
51
2,771
3,290
14,254
90,205
49,834
189,589
0
15,425
162
0
0
0
255,010
Transfers
Closing net book amount
At 31 December 2011
- Cost
- Valuation
Net book amount
0
(17,894)
0
(9,821)
(2)
(1,232)
(2,602)
(9,075)
(40,626)
53,644
217,993
19,731
5,604
211
1,539
688
5,179
304,589
19,731
5,604
211
1,539
688
5,179
304,589
8,217
587
0
1,099
262
571
32,491
Year ended 31 December
2012
53,644
217,993
Additions
0
19,513
Disposals
(146)
(476)
0
(99)
0
(420)
0
0
(1,141)
10,277
4,522
0
1,069
0
0
0
132
16,000
Write back previous
impairment of cultural assets
0
0
0
0
154
0
0
0
154
Transfer to assets
classified as held for sale
0
0
0
0
0
0
0
0
0
Impairment loss charged to
net result
0
0
0
0
0
0
0
0
0
Depreciation expense
0
(6,153)
0
(1,479)
(2)
(502)
(224)
(1,583)
(10,307)
Net revaluation
increments/ decrements
Transfer from WIP
2,242
(364)
0
0
63,775
235,399
1,878
(27,422)
0
0
0
0
0
(27,422)
526
5,682
363
1,716
726
4,299
314,364
At 31 December 2012
- Cost
- Valuation
Net book amount
74
0
0
2,242
0
7,642
0
2,918
3,340
4,434
20,576
63,775
235,399
0
526
3,417
363
0
0
3,405
306,885
0
0
(364)
0
(5,377)
0
(1,202)
(2,614)
(3,540)
(13,097)
63,775
235,399
1,878
526
5,682
363
1,716
726
4,299
314,364
Footnote
1. The useful lives of assets as stated in Note 1 are used in the calculation of depreciation as shown in note 3.
Freehold land and buildings carried at fair value.
An independent valuation of the Institute’s land and buildings was performed by Charter Keck Cramer to determine the fair value of
the land and buildings. Valuers were appointed by the Valuer General of Victoria. The valuation, which conforms to Australian Valuation
Standards, was determined by reference to the amounts for which assets could be exchanged between knowledgeable willing parties in
an arm’s length transaction. Fair value is determined by direct reference to recent market transactions on arm’s length terms for land and
buildings of comparable size and location to the Institute. The valuation was based on independent assessments. The effective date of
the valuation is fair value as at the 31 December 2012 as detailed in their report dated 7 January 2013.
Plant and Equipment, and Computer Equipment
An independent valuation of the Institute’s plant and equipment, and computer equipment was performed by m3p&e Strategists to
determine the fair value of plant and equipment, and computer equipment. Valuers were appointed by the Valuer General of Victoria.
The valuation, which conforms to Australian Valuation Standards, was determined by reference to the amounts for which assets
could be exchanged between knowledgeable willing parties in an arm’s length transaction. The fair value of plant and equipment, and
computer equipment is usually their market value determined by appraisal. If there is no market based evidence of fair value depreciated
replacement cost is used to determine fair value. The effective date of the valuation is fair value as at the 31 December 2012 as
inspected on the 17 and 18 of October 2012.
The consolidated figures for Property, Plant and Equipment is the same as the Institute as an individual entity.
Notes
1. Property, plant & equipment includes all operational assets.
2. Other Property, plant & equipment includes non -operational assets such as artworks.
75
Note
13
Computer Software
Total
$’000
$’000
0
0
Intangible assets
Consolidated
At 1 January 2011
Cost
Accumulated amortisation and impairment
0
0
Net book amount
0
0
Year ended 31 December 2011
0
0
Impairment losses charged to net result
0
0
Amortisation charge
0
0
0
0
At 31 December 2012
Cost
Net book amount
804
804
(245)
(245)
559
559
0
0
There were no intangible assets in 2011.
Institute
At 1 January 2011
Cost
0
0
0
0
Net book amount
0
0
0
0
Impairment losses charged to net result
0
0
0
0
At 31 December 2012
Cost
804
(245)
Net book amount
559
559
559
559
There were no intangible assets in 2011.
76
804
(245)
Consolidated
Note
14
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Payables
Current
Contractual
14,646
11,895
9,463
8,255
Revenue in advance
12,335
11,210
12,335
11,210
Statutory
158
11
147
0
27,139
23,116
21,945
19,465
Bank Loan
11,857
16,857
0
0
Total current secured financial liability
11,857
16,857
0
0
GST payable to the ATO
Total current payables
15
Borrowings
Current
The loan is secured by several properties held by the Holmesglen Foundation to the value of $18M, Refer to note 30 for maturity
analysis and the nature and extent of risks arising from borrowing. During the year there were no breaches or defaults of the loan.
16
Provisions
Current provisions expected to be settled within 12 months
Employee benefits:
2,229
2,209
2,229
2,209
338
332
338
332
- Long service leave
672
619
672
619
- On costs for long service leave
102
93
102
93
3,341
3,253
3,341
3,253
8,507
8,950
8,505
8,950
- Annual leave
- On costs for annual leave
Subtotal
Current provisions expected to be settled after 12 months
Employee benefits:
1,291
1,343
1,291
1,343
Subtotal
9,798
10,293
9,796
10,293
13,139
13,546
13,137
13,546
1,434
1,248
1,434
1,248
Total current provisions
Non-current
Employee benefits:
Total non-current provisions
Total provisions
218
187
218
187
1,652
1,435
1,652
1,435
14,791
14,981
14,789
14,981
77
Consolidated
Note
17
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
122,807
122,807
122,807
122,807
Equity
(a) Contributed Capital
Balance at 1 January
0
0
0
0
122,807
122,807
122,807
122,807
- Land
45,194
34,918
45,194
34,918
- Buildings
82,392
Capital contributions
Balance at 31 December
(b) Reserves
Composition of Reserves
Physical asset revaluation surplus
86,914
82,392
86,914
- Plant and Equipment
1,202
0
1,202
0
Available for sale revaluation surplus*
3,343
591
3,343
591
136,653
117,901
136,653
117,901
34,918
Movements in Equity
Asset Revaluation Reserve
Land
34,918
34,918
34,918
Revaluation increment on non-current assets
10,276
0
10,276
0
45,194
34,918
45,194
34,918
82,392
82,392
82,392
82,392
Buildings
4,522
0
4,522
0
86,914
82,392
86,914
82,392
Plant and Equipment
0
0
0
0
1,202
0
1,202
0
1,202
0
1,202
0
591
3,223
591
3,223
0
0
0
0
Available for sale revaluation reserve*
Adjustments on adoption of new accounting policy
591
3,223
591
3,223
2,752
(2,632)
2,752
(2,632)
Cumulative (gain)/loss transferred to the net result on sale of financial assets
0
0
0
0
Cumulative (gain)/loss transferred to the net result on impairment of
financial assets
0
0
0
0
Balance at beginning of financial year
Valuation gain/(loss) recognised
0
0
0
0
3,343
591
3,343
591
113,008
99,533
92,496
79,008
9,195
13,475
4,622
13,488
122,203
113,008
97,118
92,496
Total equity
381,663
353,716
356,578
333,204
Other
(c) Accumulated surplus / (deficit)
Net operating result for the year
* The available for sale revaluation reserve arises on the revaluation of available for sale financial assets. Where a revalued
financial asset is sold that portion of the reserve which relates to that financial asset, and is effectively realised, is recognised
in profit and loss. Where a revalued financial asset is impaired that portion of the reserve which relates to that financial asset is
recognised in profit and loss.
78
Consolidated
2011
2012
2011
$’000
$’000
$’000
$’000
9,195
13,475
4,622
13,488
Depreciation and amortisation of non-current assets
10,552
9,090
10,552
9,072
Net (gain) / loss on sale of non-current assets
(3,115)
(364)
606
200
(518)
344
(526)
344
(298)
747
(298)
(55)
(23)
(30)
(23)
(30)
Note
18
Institute
2012
Cash flow information
(a) Reconciliation of operating result after income tax to net
cash flows from operating activities
Net result for the year
Non-cash flows in operating result
Net (gain) / loss on disposal of financial investments
Fair value gains on other financial assets at fair value through
profit or loss
Donations of fixed assets - library
Impairment of financial assets
Total non-cash flows in operating result
353
765
353
765
6,951
10,552
10,664
10,296
2,853
(4,932)
5,451
(6,180)
1
(78)
1
(78)
Movements in operating assets and liabilities
Decrease / (increase) in trade receivables
Decrease / (increase) in inventories
19
Decrease / (increase) in other assets
(129)
(8)
(144)
(26)
Increase / (decrease) in payables
4,023
(6,040)
2,480
(4,322)
Increase / (decrease) in employee benefits
(191)
545
(192)
545
Total movement in operating assets and liabilities
6,557
(10,513)
7,596
(10,061)
Net cash flows provided from operating activities
22,703
13,514
22,882
13,723
7,566
Commitments for expenditure
(a) Capital commitments
Capital expenditure contracted for at the reporting date but not
recognised as liabilities is as follows:
Property, Plant and Equipment
Payable:
- Within one year
0
7,566
0
- Later than one year but not later than five years
0
0
0
0
Total Capital Expenditure Commitments
0
7,566
0
7,566
(b) Operating Lease commitments
Commitments in relation to leases contracted for at the reporting date
but not recognised as liabilities, payable:
Within one year
2,347
1,632
2,347
1,632
Later than one year but not later than five years
6,903
6,313
6,903
6,313
Total operating lease liabilities
9,250
7,945
9,250
7,945
The Institute leases certain land, buildings and equipment. These leases range in length with the shortest lease terminating
three months from the 31 December 2012 and the longest lease terminating 5 years from the 31 December 2012.
(c) Remuneration commitments
Commitments for the payment of salaries and other
remuneration under long-term employment contracts in
existence at the reporting date but not recognised as liabilities.
Within one year
3,021
3,298
3,021
3,298
Later than one year but not later than five years
6,365
5,078
6,365
5,078
9,386
8,376
9,386
8,376
79
Consolidated
2011
2012
2011
$’000
$’000
$’000
$’000
Institute owned properties
2,625
2,480
2,625
2,480
Gross amount of leased assets
2,625
2,480
2,625
2,480
113
Note
20
Institute
2012
Leases
As at the reporting date the Institute leased out the following assets:
Operating lease receivables
Payments due
98
113
98
- Later than one year but not later than five years
274
42
274
42
Net operating lease receivables
372
155
372
155
- Within one year
The Institute leases out certain land, buildings and equipment, which are excess to current requirements, at current market
rates. These leases range in length with the shortest lease terminating one month from the 31 December 2012 and the longest
lease terminating 5 years from the 31 December 2012.
21
Contingent assets and contingent liabilities
There were no Contingent Assets or Liabilities as at 31 December 2012. (Nil 2011)
22
Economic dependency
Government Contributions - operating
Government Contributions - capital
99,495
90,828
99,482
2,067
9,585
2,067
9,585
101,562
100,413
101,549
100,413
90,828
In 2012, the Holmesglen Institute of Tafe was dependent on 59.3% of Government Contributions - Operating compared to 52.5% in 2011.
23
Subsequent events
No matters or circumstances have arisen since the end of the reporting period which significantly affect the operations of the
Institute, the results of those operations, or the state of affairs of the Institute in future financial years.
24
Remuneration of auditors
Remuneration of Victorian Auditor General’s Office for:
- Audit of the financial statements
- Audit of the financial statements of subsidiary
Total remuneration of Victoria Auditor General’s Office
46
43
46
43
3
9
0
0
49
52
46
43
Remuneration of other auditors:
80
- Other Assurance Services
143
109
107
99
Total remuneration of other auditors
143
109
107
99
Total Remuneration of Auditors
192
161
153
142
Consolidated
Note
25
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Superannuation
Employees of the Institute are entitled to receive superannuation benefits and the Institute contributes to both defined benefit
and defined contribution plans. The defined benefit plan(s) provides benefits based on years of service and final average salary.
The Institute does not recognise any defined benefit liability in respect of the plan(s) because it has no legal or constructive
obligation to pay future benefits relating to its employees; its only obligation is to pay superannuation contributions as they fall
due. The Department of Treasury and Finance recognises and discloses the State’s defined benefit liabilities in its financial
statements. However, superannuation contributions paid or payable for the reporting period are included as part of employee
benefits in the Comprehensive Operating Statement of the Institute. The name and details of the major employee superannuation
funds and contributions made by the Institute are as follows:
Paid Contribution for the Year
Defined benefit plans:
State Superannuation Fund – revised and new
853
993
853
993
Defined contribution plans:
VicSuper
4,456
4,742
4,456
4,742
Other
1,932
1,650
1,932
1,650
Total
7,241
7,385
7,241
7,385
Various Funds
503
504
503
504
Total
503
504
503
504
Contribution Outstanding at Year End
(a) The bases for contributions are determined by the various schemes.
81
Consolidated
Note
26
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Key management personnel disclosures
Responsible persons related disclosures
In accordance with the directions of the Minister for Finance under the Financial Management Act 1994, the following disclosures
are made for the responsible Ministers and responsible Members of the Board,
(i) Minister
The relevant Minister is The Hon Peter Hall MLC, Minister for Higher Education and Skills. Remuneration of the Ministers is
disclosed in the financial report of the Department of Premier and Cabinet. Other relevant interests are declared in the Register
of Members interests which is completed by each member of the Parliament.
(ii) Members of the Board of Holmesglen Institute of TAFE and accountable officers:
J. Forster (Chairman)
A. Shears-Carter
R. Prior
B. Mackenzie PSM (CE)
Dr. P. Veenker
Emeritus Professor Peter Darvall AO
C. Walsh
J. Dixon
B. Waters
R. Leeming
R. Englehardt (Student Representative)
P. Lewinsky
M. Leith (Staff Representative) from Oct 12
N. Lucas PSM JP
M. Leopold (Staff Representative) term expired Sept 12
P. Picking
(iii) Executive Officers
M. Farone - Executive Director ( Educational Development and Design)
E. Spangher - Corporate Services Manager
B. Prescott - Executive Director (Operations)
F. Virik - Executive Director (Information Services and Campus Manager Moorabbin)
D. Endean - Executive Director (International Programs and Projects)
All of the above persons were also key management persons during the year ended 31 December 2012
Remuneration of responsible persons
Remuneration received, or due and receivable from the Institute in connection with the management of the Institute.
Includes termination payments and bonuses paid at end of contracts.
Income range
452
409
452
409
No
No
No
No
The number of Responsible Persons whose remuneration
was within the specified bands are as follows:
15
14
15
14
20,001 - 30,000
-
-
-
-
Less than 10,000
98,001 - 100,000
1
1
1
1
260,001 - 270,000
-
1
-
1
300,001 - 310,000
-
-
1
-
320,001 - 330,000
1
-
-
-
17
16
17
16
Retirement benefits of responsible persons
There were no retirement benefits paid by the Institute in connection with the retirement of Responsible Persons of the Institute.
82
Consolidated
Note
26
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Key management personnel disclosures (Continued)
Executive Officers’ Remuneration
The number of executive officers, other than Responsible Persons included under “Remuneration of Responsible Persons” above
whose total remuneration exceeded $100,000 during the financial year are shown in their relevant income bands. The base
remuneration is exclusive of bonus payments, long service leave payments, redundancy payments and retirement benefits.
Base remuneration of executive officers
2,826
2,621
2,826
2,621
Total remuneration of executive officers
2,826
2,621
2,826
2,621
No
No
No
No
Income range
The number of executive officers whose total remuneration from the Institute was within the specified bands are as follows:
100,001 - 110,000
1
-
1
-
130,001 - 140,000
2
2
2
2
140,001 - 150,000
1
2
1
2
150,001 - 160,000
4
8
4
8
160,001 - 170,000
5
-
5
-
170,001 - 180,000
-
-
-
-
180,001 - 190,000
-
-
-
-
190,001 - 200,000
-
2
-
2
200,001 - 210,000
2
2
2
2
210,001 - 220,000
2
-
2
-
17
16
17
16
452
409
452
409
-
-
-
362
Key management personnel compensation
Short-term employee benefits
Post-employment benefits
331
362
331
Termination benefits
-
-
-
-
Share-based payments
-
-
-
-
783
771
783
771
Other long-term benefits
Loans to key management personnel
There were no loans in existence at reporting date.
83
Consolidated
Note
27
Institute
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Related parties
Key management personnel
Disclosures relating to directors and specified executives are set out in note 26.
Loans to/from related parties
Loans to subsidiaries
- Beginning of the year
- Loans repaid
End of year
8,550
8,550
8,550
8,550
(2,550)
0
(2,550)
0
6,000
8,550
6,000
8,550
0
0
0
18,737
Loans to other related parties
- Loans advanced
- Loans repaid
0
0
0
(18,737)
End of year
0
0
0
0
No provisions for doubtful debts have been raised in relation to any outstanding balances, and no expense has been recognised
in respect of bad or doubtful debts due from related parties.
Other transactions
Other related transactions and loans requiring disclosure under the Directions of the Minister for Finance have been considered
and there are no matters to report.
28
Subsidiaries and other related parties
The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries and other related
parties in accordance with the accounting policy described in note 1.04.
Class of
Country of
Equity
Equity
shares
incorporation
holding
holding
2012
2011
2012
Name of entity
- Holmesglen International Training Services Pty Ltd.
- Holmesglen Foundation
29
Institute details
The registered office of the Institute is:
Holmesglen Institute of TAFE
The principle place of business is:
Cnr Batesford and Warrigal Roads
Holmesglen, Victoria, 3148.
84
Ordinary
Australia
%
%
100
100
30
Financial instruments
Financial risk management
(i) Financial risk management objectives
The Institute’s activities expose it to a variety of financial
risks: market risk (including currency risk, fair value interest
rate risk, cash flow interest rate risk and price risk),
credit risk and liquidity risk. The Institute’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 Institute. The
Institute 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, ageing analysis for credit
risk and beta analysis in respect of investment portfolios to
determine market risk.
Risk management is carried out within the Corporate Unit
of the Institute under policies approved by the Board. The
Corporate Unit, evaluates and hedges financial risks in
close co‑operation with the Institute’s operating units.
The Board provides written principles for overall risk
management, as well as policies covering specific areas,
such as foreign exchange risk, interest rate risk, credit risk,
use of derivative financial instruments and non‑derivative
financial instruments, and investment of excess liquidity.
Details of the significant accounting policies and methods
adopted, including the criteria for recognition, the basis of
measurement and the basis on which income and expenses
are recognised, in respect of each class of financial asset,
financial liability and equity instrument is disclosed in note
1 of the financial statements.
(ii) Financial risk exposures and management
The Institute’s financial instruments consist mainly of deposits
with banks, local money market instruments, short term
investments, accounts receivables and payables and leases.
The main risks the Institute is exposed to through its
financial instruments are market risk, foreign currency risk,
price risk, funding risk, Interest rate risk, credit risk and
liquidity risk.
Market risk
The Institute in its daily operations is 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 worth of
the Institute e.g. an adverse movement in interest rates or
foreign currency exchange rates.
The Board ensures that all market risk exposure is
consistent with the Institute’s business strategy and within
the risk tolerance of the Institute. Regular risk reports are
presented to the Board.
There has been no significant change in the Institute’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.
Foreign currency risk
managing foreign currency risk or the methods used to
measure this risk from the previous reporting period.
Price risk
The Institute is exposed to price risk in respect of fee for
service and contract services which are subject to open
market competition. It is also exposed to equity price risk in
respect of it’s investment portfolio.
managing price risk or the methods used to measure this
risk from the previous reporting period.
Interest rate risk
Interest rate risk arises from the potential for a change in
interest rates to change the expected net interest earnings
in the current reporting period and in future years. Similarly,
interest rate risk also arises from the potential for a change
in interest rates to cause a fluctuation in the fair value of
the financial instruments.
The objective is to manage the rate risk to achieve stable
and sustainable net interest earnings in the long term. This
is managed predominately through a mixture of short term
and longer term investments. Interest rate movements
have not been sufficiently significant during the year to have
an impact on the Institute’s year end result.
The Institute’s exposure to interest rate risks and the
effective interest rates of financial assets and financial
liabilities, both recognised and unrecognised at balance
date are set out in the financial instrument composition and
maturity analysis table.
Funding risk
Funding risk is the risk of over reliance on a funding source
to the extent that a change in that funding source could
impact on the operating result for the current year and
future years.
The Institute manages funding risk by continuing to
diversify and increase funding from Commercial activities,
both domestically and off shore.
In the 2012 State Budget the funding to the TAFE sector
was cut by approximately $300 Million.
This has had a major impact on the Institute resulting in
reduced funding of approx $30 million per annum.
The Institute has established a Transition plan which
identified reducing the number of courses provided, reduced
staff numbers, reduced operational costs and an increase
of the course fees charged to students.
We recognise that the operating strategy outlined in this
plan carries with it high risk issues, especially in relation
to students’ capacity and preparedness to pay significantly
85
increased tuition fees and any unforeseen government
policy changes that may curtail the Institute’s investment
and entrepreneurial activities. The plan is based on
returning a balanced budget or a small funded surplus in
each of the years 2013 to 2015.
Concentrations of credit risk
The maximum exposure to credit risk, excluding the value
of any collateral or other security, at balance date to
recognised financial assets, is the carrying amount, net of
any provisions for impairment of those assets, as disclosed
in the balance sheet and notes to the financial statements.
There are no material amounts of collateral held as security
at 31 December 2012.
The Institute minimises concentrations of credit risk
in relation to trade accounts receivable by undertaking
transactions with a large number of customers. The majority
of customers are concentrated in Australia. The major
customers relate to the provision of Vocational Education
and Training services to industry and the community. The
Institute continues to provide ongoing training, consultancy
and other services for these customers who adhere to
industry trade terms.
Credit risk in trade receivables is managed in the following ways:
- payment terms are 7 days from date of invoice.
- debtors with accounts in excess of 30 days are sent a
statement of account indicating terms of 7 days to make
payment.
- debtors with arrears are sent a reminder notice indicating
a further 7 days to make payment before reference of
their debt to a debt collection agency.
- debtors which represent government departments or
agencies are not referred to a debt collection agency,
but managed by the Institute directly with department or
agency contacts.
86
The Institute minimises credit risk in relation to student
loans receivable in the following ways:
- funds are drawn directly from the students bank account
or credit card account on the due date. If payments fail
their enrolment is suspended.
- there has been no significant change in the Institute’s
managing credit risk or the methods used to measure
this risk from the previous reporting period.
Liquidity risk
Ultimate responsibility for liquidity risk management rests
with the Institute’s governing body, which has built an
appropriate liquidity risk management framework for the
management of the short, medium and long-term funding and
liquidity requirements. The Institute manages liquidity risk
by maintaining adequate reserves and banking facilities by
continuously monitoring forecast and actual cash flows and
matching the maturity profiles of financial assets and liabilities.
exposure, or its objectives, policies and processes
for managing liquidity risk or the methods used to
measure this risk from the previous reporting period.
87
30
Total increase/ (decrease) in financial assets
Fixed interest bearing
Various shares
Receivables
Deposits at call
Cash and cash equivalents
Financial assets
31 December 2011
Total increase/ (decrease) in financial assets
Fixed Interest Bearing
Various Shares
Receivables
Deposits at call
Financial assets
31 December 2012
0
(716)
(300)
67,327
3,000
0
0
0
22,759
(378)
37,800
(38)
$’000
$’000
3,768
Result
-1%
(543)
Carrying
amount
77,046
(100)
31,753
1,000
0
(412)
0
41,232
(31)
$’000
$’000
3,061
Result
Carrying
amount
-1%
(716)
(300)
0
0
(378)
(38)
$’000
Equity
1%
716
300
0
0
378
38
$’000
Result
1%
543
100
0
0
412
31
$’000
Result
Interest rate risk
(543)
(100)
0
0
(412)
(31)
$’000
Equity
Interest rate risk
716
300
0
0
378
38
$’000
Equity
543
100
0
0
412
31
$’000
Equity
0
0
0
0
0
0
$’000
Result
-10%
0
0
0
0
0
0
$’000
Result
-10%
(2,276)
0
(2,276)
0
0
0
$’000
Equity
10%
0
0
0
0
0
0
$’000
Result
10%
0
0
0
0
0
0
$’000
Result
Other price risk
(3,175)
0
(3,175)
0
0
0
$’000
Equity
Other price risk
2,276
0
2,276
0
0
0
$’000
Equity
3,175
0
3,175
0
0
0
$’000
Equity
The following table summarises the sensitivity of the Consolidated financial assets and financial liabilities to interest rate risk, foreign exchange risk and other price risk.
(ii) Summarised sensitivity analysis
0
0
0
0
0
0
$’000
Result
0
0
0
0
0
0
$’000
3%
0
0
0
0
0
0
$’000
Result
0
0
0
0
0
0
$’000
Equity
0
0
0
0
0
0
$’000
Result
3%
Foreign exchange risk
-3%
0
0
0
0
0
0
$’000
Result
Equity
Foreign exchange risk
-3%
0
0
0
0
0
0
$’000
Equity
0
0
0
0
0
0
$’000
Equity
30
(iii) Financial instrument composition and maturity analysis
The tables below reflect the undiscounted contractual settlement terms for financial instruments of a fixed period of maturity, as well as
management’s expectations of the settlement period for all other financial instruments. As such, the amounts may not reconcile to the
balance sheet.
FINANCIAL INSTRUMENTS
Consolidated 2012
Weighted
average
effective
rate
Floating
interest
rate
Within 1
year
$’000
$’000
1 - 5 years
More than
5 years
Non
Interest
Bearing
Total
Carrying
Amount per
Balance
Sheet
$’000
$’000
$’000
$’000
Financial assets
3.67%
25
25
- Cash at bank
3.67%
3,036
3,036
- Deposits at call
4.63%
41,232
41,232
Receivables - debtors
2,444
2,444
Receivables - other debtors
5,285
5,285
3,500
3,500
Receivables - loans to related parties
Receivables - loans to other parties
Other financial assets:
Loan receivable
Long term deposits
4.63%
1,000
1,000
Various shares
44,293
1,000
31,753
31,753
42,982
88,275
14,804
14,804
14,804
26,661
Non
Interest
Bearing
Total
Carrying
Amount per
Balance
Sheet
$’000
$’000
Trade and other payables
Borrowings
9.29%
11,857
Total financial liabilities
11,857
11,857
FINANCIAL INSTRUMENTS
Consolidated 2011
Weighted
average
effective
rate
Floating
interest
rate
Within 1
year
1 - 5 years
More than
5 years
$’000
$’000
$’000
$’000
Financial assets
4.69%
24
24
- Cash at bank
4.69%
3,744
3,744
- Deposits at call
5.86%
37,800
37,800
2,350
2,350
Receivables - other debtors
8,232
8,232
3,500
3,500
22,759
22,759
36,841
81,409
Receivables - loans to related parties
Receivables - loans to other parties
Loan receivable
Long term deposits
4.71%
3,000
3,000
Various shares
41,568
3,000
Trade and other payables
Borrowings
11,906
9.29%
88
16,857
16,857
11,906
16,857
11,906
28,763
30
(iv) Fair value estimation
The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. 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 Institute is the current bid price. The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques. The Institute 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 are used for long‑term debt instruments held. Due to the short-term nature of the current receivables, their
carrying value is assumed to approximate their fair value and based on credit history it is expected that the receivables that are neither past due nor impaired
will be received when due. For other assets and other liabilities the fair value approximates their carrying value. Financial assets where the carrying amount
exceeds fair values have not been written down as the Institute intends to hold these assets to maturity. The carrying amounts and aggregate net fair values of
financial assets and liabilities at balance date are:
2012
Consolidated
2011
Carrying Amount
Net Fair Value
Carrying Amount
Net Fair Value
$’000
$’000
$’000
$’000
Financial assets
Cash and cash equivalents - Cash at Bank
Cash and cash equivalents - Deposits at Call
Receivables
3,061
3,061
3,768
3,768
41,232
41,232
37,800
37,800
7,729
7,729
10,582
10,582
- Loan receivable
3,500
3,500
3,500
3,500
- Various Shares
31,753
31,753
22,759
22,759
Long Term Deposits
1,000
1,000
3,000
3,000
88,275
88,275
81,409
81,409
Payables
14,804
14,804
11,906
11,906
Borrowings
11,857
11,857
16,857
16,857
26,661
26,661
28,763
28,763
Carrying Amount
Net Fair Value
Carrying Amount
Net Fair Value
$’000
$’000
$’000
$’000
2012
Institute
2011
Financial assets
2,136
2,136
2,759
2,759
Cash and cash equivalents Cash at Bank
21,600
21,600
10,100
10,100
Receivables
12,832
12,832
18,283
18,283
- Loan receivable
3,500
3,500
3,500
3,500
- Various Shares
27,809
27,809
22,759
22,759
Long Term Deposits
0
0
2,000
2,000
67,877
67,877
59,401
59,401
Payables
9,610
9,610
8,255
8,255
9,610
9,610
8,255
8,255
The following table provides an analysis of financial instruments that are measured and recognised at fair value, grouped into levels 1 to 3 based on the degree
to which the fair value is observable.
• 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 (as prices) or indirectly (derived
from prices), and
• Level 3 inputs for the asset or liability that are not based on observable market date (unobservable inputs)
Consolidated
2012
Level 1
2011
Level 2
Level 1
Level 2
Financial assets
Cash and cash equivalents - Cash at Bank
3,061
0
3,768
0
41,232
0
37,800
0
7,729
0
10,582
0
- Loan receivable
3,500
0
3,500
0
- Various Shares
31,753
0
22,759
0
Receivables
- Long Term Deposits
0
0
1,000
0
3,000
0
88,275
0
81,409
0
Payables
14,804
0
11,906
Borrowings
11,857
0
16,857
26,661
0
28,763
0
89
30
(v) Terms, conditions and accounting policies
The Institute’s accounting policies, including the terms and conditions of each class of financial asset, financial liability and
equity instrument, both recognised and unrecognised at reporting date, are as follows:
Recognised financial
instruments
Note
Accounting policies
Terms and conditions
FINANCIAL ASSETS
Cash and cash
equivalents - cash at bank
and on hand
5
Cash at bank is carried at the nominal
amount.
Cash is invested as funds permit at varying
interest rates between 4.20% and 5.25%
(2011 5.15% and 6.25%)
Cash and cash
equivalents - deposits
at call
5
Deposits at call are carried at their nominal
amounts. Interest revenue is recognised in
the operating statement when it is earned
Deposits at call have an average maturity
of 60 days and effective interest rates of
4.20% and 5.25% (2011 5.15% and 6.25%)
6
Trade debtors are carried at amortised cost
less any allowance for doubtful debts. An
allowance for doubtful debts is maintained to
recognise that collection of the full nominal
amount is no longer probable.
Credit sales are on 7 day terms.
Receivables - other
debtors
6
Other debtors are carried at amortised cost
less any allowance for doubtful debts. An
allowance for doubtful debts is maintained to
recognise that collection of the full nominal
amount is no longer probable.
Credit is allowed for a 30 day term.
Receivables - loans to
related parties
6
Loans to related parties are stated at
amortised cost using the effective interest
rate method.
Loans are provided to related parties and
are repayable on demand.
long term deposits
7
Long term deposits are stated at their
amortised cost or fair value depending on
their classification on initial recognition.
Interest revenue is recognised in the
operating statement when it is earned.
Long term deposits are invested for a period
of 5 years. Interest is based on the 90 day
bank bill plus a premium of between .03%
and 1.9%.
assets available for sale
7
Available for sale financial assets are
reflected at fair value. Unrealised gains and
losses arising from changes in fair value are
taken directly to equity.
Other financial assets are purchased with
the approval of the Institute Investment
Committee.
14
Liabilities are recognised for amounts to be
paid in the future for goods and services
Trade liabilities are settled as required.
FINANCIAL LIABILITIES
Payables creditors and
accruals
received, whether or not invoiced to the
Institute
Borrowings
90
15
Bank overdrafts and loans are carried at
amortised cost. Bank interest is charged as
an expense as it accrues. Details of credit
standby arrangements are: Nil.
Interest is charged at the bank’s ruling
overdraft rate. Floating rates of 9.83% to
10.49% were charged during the year. (2011
10.99% to 11.24%) The amount of unused
credit is Nil.
91
30
1,281
5,014
$`000
- Other Debtors
56
0
56
$`000
56
0
56
$`000
352
210
142
$`000
213
213
0
$`000
Institute
0
0
0
$`000
0
0
$`000
> one year to 5 years
Consolidated
8,825
1,424
752
22
730
$`000
Institute
16
0
16
$`000
16
0
16
$`000
> 3 months to 6 months
Consolidated
Institute
142
0
142
$`000
142
142
0
$`000
> 6 months to one year
Consolidated
Institute
0
0
0
$`000
0
0
$`000
> one year to 5 years
Consolidated
8,550
9,000
22
1,402
$`000
> one to 3 months
Institute
Total Credit Risk Financial assets
7,980
845
$`000
Consolidated
8,550
8,068
932
$`000
No later than one month
Institute
Consolidated
- Loans to related parties
- Other Debtors
- Debtors
Receivables
Financial Assets
2011
5,540
6,295
6,000
1,022
61
961
$`000
Institute
> 6 months to one year
Consolidated
Total Credit Risk Financial assets
1,026
61
965
$`000
Institute
> 3 months to 6 months
Consolidated
6,000
4,898
642
$`000
Institute
> one to 3 months
Consolidated
- Loans to related parties
- Loan to other party
Institute
No later than one month
- Debtors
Receivables
Financial Assets
2012
Consolidated
Financial assets past due (but not impaired)
(vi) Credit Risk
Financial Instruments
(cont)
TOTALS
10,582
8,090
2,492
$`000
Consolidated
TOTALS
7,729
5,285
2,444
$`000
Consolidated
18,283
8,550
8,142
1,591
$`000
Institute
12,832
6,000
5,173
1,659
$`000
Institute
DISCLOSURE INDEX
Note
92
Contents of the notes to the financial statements
Page
1
Statement of significant accounting policies
57 - 67
2
68
3
69
4
70
5
Cash and deposits
70
6
Receivables
71
7
71
8
Biological assets
73
9
Inventories
73
10
Other assets
73
11
73
12
74
13
Intangible assets
76
14
Payables
77
15
Borrowings
77
16
Provisions
77
17
Equity
78
18
Cash flow information
79
19
Commitments leased
79
20
Leases
79
21
Contingent assets and contingent liabilities
80
22
Economy dependency
80
23
Subsequent events
80
24
Remuneration of auditors
80
25
Superannuation
81
26
Key management personnel disclosures
82 - 83
27
Related parties
84
28
Subsidiaries and other related parties
84
29
Institute details
84
30
85 - 86
31
Glossary of terms
96
VOCATIONAL AND HIGHER EDUCATION DISCLOSURE INDEX
Source
reference
Reporting
Requirement
Identify relevant
page(s)
(A) REPORT OF OPERATIONS
[1] SD 4.2(g)
FRD 22
Qualitative and quantitative information.
8-9
[2] SD 4.2(h)
FRD 22
Prepared in accordance with the requirements of the financial reporting directions.
51
[3] SD 4.5.5
Attestation of compliance with the Australian/New Zealand Risk Management Standard. 47
[4] SD 4.2(j)
FRD 22
Signature of responsible person.
3, 9
STANDARD DISCLOSURES IN THE REPORT OF OPERATIONS
General information
[5] FRD 22
Manner of Establishment, including the relevant Minister.
2, 82
[6] FRD 22
The objectives, functions, powers and duties, linked to a summary of its activities,
programs and achievements.
3, 4, 5, 8, 9
[7] FRD 22
Nature and range of service provision.
8, 19, 23 - 31
[8] FRD 22
Organisational chart/s.
7
[9] TAFE Gov. Review
Outline of the structure of the board including committees.
4-5
Summary of meetings attended by each board member.
5
Summary of training of board members.
4
[12] TAFE Gov.
Review
Board values and code of conduct.
4
[13] FRD 22B
Statement of workforce data.
46
[14] FRD 22B
Statement on the application of employment and conduct principles.
46
[15] FRD 22B
Statement on occupational health and safety.
44
A general statement on industrial relations.
45
Governance Recommendations of the TAFE Governance Review, May 2003
[16] FRD 22B
Disclosure Index
[17] FRD 10
Victorian legislation with statutory disclosure requirements.
93 - 95
[18] FRD 10
A short description of the relevant requirement.
93 - 96
[19] FRD 10
Relevant index pages.
92 - 96
Disclosures Disclosure of ex-gratia payments
[20] FRD 11
Ex-gratia payments.
Disclosure of responsible persons.
-
[21] FRD 21A (1) (a)
The name of responsible persons.
82
Disclosures of remuneration of executive officers
[22] FRD 21A
(1) (b)
Total remuneration of all responsible persons.
82 - 83
[23] FRD 21A
(1) (c)
An analysis of remuneration of responsible persons:
in bands of $10,000; and
listing the number of responsible persons and Total Annualised Employee Equivalents
(AEE) whose actual remuneration for the period falls within each band, and total
amount paid for executives and AEE’s.
82 - 83
[24] FRD 21A (1) (d)
A table disclosing the aggregate amount of related party transactions.
84
[25] FRD 21(2)
(a)
Total remuneration of all executive officers.
83
[26] FRD 21
(2) (b)
Base remuneration disclosed separately from actual remuneration.
83
[27] FRD 21
(2) (c)
Accrual principles that apply in determining remuneration levels.
82
93
Source
reference
Reporting
Requirement
Identify relevant
page(s)
Financial Information
[28] FRD 22
Summary of financial results with comparative information for preceding four years.
9
[29] FRD 22
Summary of significant changes in financial position.
9
[30] FRD 22
Summary of operational and budgetary objectives.
8-– 9
[31] FRD 22
Events subsequent to balance date.
80
[32] FRD 22
Summary of each consultancy valued in excess of $10,000, including a schedule
listing the consultants engaged, a summary of project involved, total project fees
approved (excluding GST), expenditure for the reporting period (excluding GST) and
future commitments relating to consultant.
9
[33] FRD 22
Total number of consultancies individually valued at less than $10,000 (excl. of GST).
9
[34] FRD 22
Total expenditure of these consultancy engagements.
9
[35] FRD 22
Financial information must be consistent with that included in the financial statements. 9
[36] FRD 22
The Report of Operations should be presented in a format that complements the
financial report.
[37] FRD 27
The Report of Operations must include in its report of operations an audited statement 8 - 9
of performance.
8-9
Other Relevant Information
[38] FRD 22
Freedom of Information Act 1982 (including amendments of 3 August 2007).
47
[39] FRD 22
Building Act 1993 (including amendments of 1 July 2007).
32
[40] FRD 22
Whistleblowers Protection Act 2001 (including amendments of 1 July 2007).
47
[41] FRD 22
National Competition Policy.
47
[42] FRD 22
Summary of environmental performance.
33
[43] FRD 22
Information available on request.
4, 28, 47, 97
[44] FRD 22
Statement that declarations of pecuniary interests have been duly completed by all
relevant officers.
4
[45] FRD 22
Shares held by senior officers.
[46] FRD 22
Publications.
28
[47] FRD 22
Major promotional, public relations and marketing activities.
28
[48] FRD 22
Changes in prices, fees, charges.
42
[49] FRD 22
Major or external reviews.
28
[50] FRD 22
Major research and development activity.
8-9
[51] FRD 22
Details of overseas visits.
27
List of major committees sponsored by the institute.
4-5
[52] FRD 22
Overseas Operations of Victorian TAFE Institutes
[53] PAEC
Summary of Institute’s international operations.
27
Auditor General
Recommendation in relation to Overseas Operations of Victorian TAFE Institutes – 3.110
Auditor General, Special Reviews, 30 June 2002.
[54] 3.110
94
Risk performance measures.
VOCATIONAL AND HIGHER EDUCATION DISCLOSURE INDEX
27
Source
reference
Reporting
Requirement
Identify relevant
page(s)
Financial Reporting Direction 27 – Presentation of Reporting and Performance
Information
Audited Statements of Key Performance Measures (KPIs) must include an audited
statement of performance for certain KPIs.
[55] FRD 27A
Key performance statement
- Participation of 15-24 year olds.
- Participation of 25-64 year olds.
- Module Load Completion Rate.
- Student satisfaction.
- Total Cost per Student Contact Hour (SCH).
- Working Capital Ratio.
- Net Operating Margin.
- Fee for Service Revenue.
- Revenue per EFT Staff.
- Student Contact Hours (SCH).
- Energy Consumption.
42
42
42
8, 42, 43
42
42
42
42
42
8, 42, 43
33
42
(B) FINANCIAL STATEMENTS
Part 7 of the Financial Management Act 1994 (FMA)
[56] FMA 49
(a)
Information as required by the Minister.
51, 66, 67
[57] FMA 49
(b)
Prepared in a manner and form approved by the Minister.
51, 66, 67
[58] FMA 49
(c)
Present fairly the financial transactions.
49, 50, 66, 67
[59] FMA 49
(d)
Present fairly the financial position.
49, 50, 66, 67
[60] FMA 49
(e)
Certified by the Accountable Officer.
51, 66, 67
The Financial Statements must be prepared in accordance with:
[61] SD 4.2 (a)
Australian Accounting Standards (AAS and AASB).
51, 66, 67
[62] SD 4.2 (a)
Financial Report Directions.
57 - 67
[63] SDA 4.2 (a)
Business rules.
57 - 67
The Financial Statements are to comprise the following:
[64] SD 4.2 (b)
An operating statement.
52
[65] SD 4.2 (b)
A balance sheet.
53
[66] SD 4.2 (b)
A statement of recognised income and expenses.
52
[67] SD 4.2 (b)
A cash flow statement.
56
[68] SD 4.2 (b)
Notes to the financial statements.
57 - 91
The Financial Statements must, where applicable, be signed and dated by the
Accountable Officer, CFAO an a member of the Responsible Body, stating whether
in their opinion:
[69] SD 4.2 (c)
The Financial Statements present fairly the financial transactions.
51, 66, 67
[70] SD 4.2 (c)
The Financial Statements are prepared in accordance with directions.
51, 66, 67
[71] SD 4.2 (c)
The Financial Statements comply with applicable Australian Accounting Standards
(AAS and AAB).
51, 66, 67
95
GLOSSARY OF TERMS
Actuarial gains or losses on superannuation defined benefit plans
Actuarial gains or losses reflect movements in the superannuation liability
resulting from differences between the assumptions used to calculate the
superannuation expense from transactions and actual experience.
Associates
Associates are all entities over which an entity has significant influence
but not control, generally accompanying a shareholding and voting rights of
between 20 per cent and 50 per cent.
Comprehensive result
Total comprehensive result is the change in equity for the period other than
changes arising from transactions with owners. It is the aggregate of net
result and other non-owner changes in equity.
Capital asset charge
The capital asset charge represents the opportunity cost of capital invested in
the non‑current physical assets used in the provision of outputs.
Commitments
Commitments include those operating, capital and other outsourcing
commitments arising from non‑cancellable contractual or statutory sources.
Employee benefits expenses
Employee benefits expenses include all costs related to employment
including wages and salaries, leave entitlements, redundancy payments and
superannuation contributions.
Financial asset
A financial asset is any asset that is:
(a) cash;
(b) an equity instrument of another entity;
(c) a contractual right:
to receive cash or another financial asset from another entity; or to
exchange financial assets or financial liabilities with another entity
under conditions that are potentially favourable to the entity; or
(d) a contract that will or may be settled in the entity’s own equity
instruments and is:
a non‑derivative for which the entity is or may be obliged to receive a
variable number of the entity’s own equity instruments; or
a derivative that will or may be settled other than by the exchange of a
fixed amount of cash or another financial asset for a fixed number of
the entity’s own equity instruments.
Grants and other transfers
Transactions in which one unit provides goods, services, assets (or
extinguishes a liability) or labour to another unit without receiving
approximately equal value in return. Grants can either be operating or capital
in nature. While grants to governments may result in the provision of some
goods or services to the transferor, they do not give the transferor a claim to
receive directly benefits of approximately equal value. Receipt and sacrifice of
approximately equal value may occur, but only by coincidence. For example,
governments are not obliged to provide commensurate benefits, in the form
of goods or services, to particular taxpayers in return for their taxes. For this
reason, grants are referred to by the AASB as involuntary transfers and are
termed non‑reciprocal transfers.
Grants can be paid as general purpose grants which refer to grants that are
not subject to conditions regarding their use. Alternatively, they may be paid
as specific purpose grants which are paid for a particular purpose and/or have
conditions attached regarding their use.
Grants for on‑passing
All grants paid to one institutional sector (e.g. a State general government)
to be passed on to another institutional sector (e.g. local government or a
private non‑profit institution).
Financial statements
Depending on the context of the sentence where the term ‘financial
statements’ is used, it may include only the main financial statements (i.e.
comprehensive operating statement, balance sheet, cash flow statements,
and statement of changes in equity); or it may also be used to replace the old
term ‘financial report’ under the revised AASB 101 (Sept 2007), which means
it may include the main financial statements and the notes.
Intangible assets
Intangible assets represent identifiable non‑monetary assets without physical
substance.
Interest expense
Costs incurred in connection with the borrowing of funds. Interest expenses
include interest on bank overdrafts and short‑term and long‑term borrowings,
amortisation of discounts or premiums relating to borrowings, interest
component of finance leases repayments, and the increase in financial
liabilities and non‑employee provisions due to the unwinding of discounts to
reflect the passage of time.
96
Interest revenue
Interest revenue includes interest received on bank term deposits, interest
from investments, and other interest received.
Investment properties represent properties held to earn rentals or for capital
appreciation or both. Investment properties exclude properties held to meet
service delivery objectives of the Institute.
Joint ventures
Joint ventures are contractual arrangements between the Institute and one or
more other parties to undertake an economic activity that is subject to joint
control. Joint control only exists when the strategic financial and operating
decisions relating to the activity require the unanimous consent of the parties
sharing control (the venturers).
Net acquisition of non‑financial assets (from transactions)
Purchases (and other acquisitions) of non‑financial assets less sales
(or disposals) of non‑financial assets less depreciation plus changes in
inventories and other movements in non‑financial assets. Includes only those
increases or decreases in non‑financial assets resulting from transactions and
therefore excludes write‑offs, impairment write‑downs and revaluations.
Net result
Net result is a measure of financial performance of the operations for the
period. It is the net result of items of revenue, gains and expenses (including
losses) recognised for the period, excluding those that are classified as ‘other
non‑owner changes in equity’.
Net result from transactions/net operating balance
Net result from transactions or net operating balance is a key fiscal aggregate
and is revenue from transactions minus expenses from transactions. It is a
summary measure of the ongoing sustainability of operations. It excludes
gains and losses resulting from changes in price levels and other changes in
the volume of assets. It is the component of the change in net worth that is
due to transactions and can be attributed directly to government policies.
Non‑financial assets
Non‑financial assets are all assets that are not ‘financial assets’.
Other economic flows
Other economic flows are changes in the volume or value of an asset or
liability that do not result from transactions. They includes gains and losses
from disposals, revaluations and impairments of non‑current physical and
intangible assets; actuarial gains and losses arising from defined benefit
superannuation plans; fair value changes of financial instruments and
agricultural assets; and depletion of natural assets (non‑produced) from their
use or removal. In simple terms, other economic flows are changes arising
from market re‑measurements.
Payables
Includes short and long term trade debt and accounts payable, grants and
interest payable.
Receivables
Includes short and long term trade credit and accounts receivable, grants,
taxes and interest receivable.
Sales of goods and services
Refers to revenue from the direct provision of goods and services and
includes fees and charges for services rendered, sales of goods and services,
fees from regulatory services, work done as an agent for private enterprises.
It also includes rental income under operating leases and on produced assets
such as buildings and entertainment, but excludes rent income from the use
of non‑produced assets such as land. User charges includes sale of goods
and services revenue.
Supplies and services generally represent cost of goods sold and the
day‑to‑day running costs, including maintenance costs, incurred in the normal
operations of the Institute.
Transactions
Transactions are those economic flows that are considered to arise as
a result of policy decisions, usually an interaction between two entities
by mutual agreement. They also include flows within an entity such as
depreciation where the owner is simultaneously acting as the owner of the
depreciating asset and as the consumer of the service provided by the asset.
Taxation is regarded as mutually agreed interactions between the government
and taxpayers. Transactions can be in kind (e.g. assets provided/given free of
charge or for nominal consideration) or where the final consideration is cash.
In simple terms, transactions arise from the policy decisions of the Institute
Audit Report.
VOCATIONAL AND HIGHER EDUCATION GLOSSARY OF TERMS
Our mission is
the delivery and
development of
vocational education
programs and value
added services
supported by high
quality resources.
Students receive
every opportunity
to achieve their
educational goals.
Requests for further
information
can be directed to:
Holmesglen
Office of the Chief Executive
PO Box 42
Further copies can be obtained from:
Holmesglen
Marketing Unit
PO Box 42
T: 03 9564 1555
E: marketing@holmesglen.edu.au
Vocational and Higher Education
Copyright @Holmesglen Institute of TAFE, March 2013
Holmesglen is the trading name of Holmesglen Institute of TAFE
City campus
332 St Kilda Road, Southbank
Moorabbin campus
488 South Road, Moorabbin
Moorabbin-Bulli Street campus
36 Bulli St, Moorabbin
Moore Road, Eildon
Waverley campus
595 Waverley Road, Glen Waverley
All written correspondence to:
PO Box 42
Holmesglen
T: +61 3 9564 1555
E: info@holmesglen.edu.au
W: www.holmesglen.edu.au
Holmesglen Annual Report 2012
Chadstone campus
Batesford Road, Chadstone
ANNUAL
REPORT
2012

Vocational and Higher Education Holmesglen Annual Report 2012

Transcription

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