QUEEN VICTORIA WOMEN’S CENTRE
QUEEN VICTORIA WOMEN’S CENTRE TRUST ANNUAL REPORT 2018–2019 STRATEGIC DIRECTION
In 2018/19, the Trust complied with its obligations under the Queen Victoria Women’s Centre Act 1994 and continued delivery of the strategic direction it set in 2015/2016. At the same time a significant amount of work has been dedicated to planning for the Centre’s future.
Our purpose To meet our obligations under the Act To promote gender equality
Our focus Increased economic participation, financial security and leadership for women
• Support and promote increased financial independence for women What • Support and promote leadership opportunities for women • Maintain the heritage of the QVWC centre and ensure it is relevant to new generations
• Use the Centre for experiences that contribute to our purpose • Speak out for improvements to women’s economic participation and leadership How through the curation of events, seminars and other public engagement • Connect women with relevant expertise to those seeking financial independence
• Equality • Engagement Drivers • Empowerment • Entrepreneurship • Enterprise
• To ensure the maintenance of the building and its financial viability Enablers • To deliver a positive working environment that respects our principles and connects with our purpose
KEY ACHIEVEMENTS IN 2018-19
• Welcomed over 14,000 women to the Centre for health services and information, financial support and counselling, meetings, to exhibit their artworks, to exchange ideas and to have fun • Encouraged and enabled participation by women in the cultural and intellectual life of Melbourne by partnering with organisations including the Moroccan Soup Bar, the Melbourne Writers Festival, Feminist Writers Festival, and Melbourne Open House • Maintained 100% occupancy rate across tenanted space at the Centre and significantly increased use of spaces available for short-term rentals such as seminars and launches • Continued refurbishment of the Centre with external wall restoration and lift replacement continuing into 2019/2020 • Hosted the inaugural QVWC Women’s Iftar. Queen Victoria Women’s Centre Annual Report 2018–2019 1 2 3 4 7 9 10 13 16 45
Report CEO’s in Review Year Inside the QVWC Staff Governance Operations of Report Financial Statements Acknowledgements declaration Responsible Body’s CONTENTS © Queen Victoria Women’s Centre © Queen Victoria Women’s Copyright State of Victoria except in accordance by any process The publication is copyright. No part may be reproduced of the Copyright Act 1968. with the provisions available online: www.qvwc.org.au are Copies of this report from: Printed copies can be ordered Centre Queen Victoria Women’s P: 03 8668 8100 E: [email protected] Designed by Fathom & Co. www.fathomandco.com.au Van Badham Van Chair Trust Centre Women’s Queen Victoria Dear Minister Act 1994, I am pleased to submit to you with the Financial Management Trust In accordance 2019. Annual Report for the year ended 30 June Trust Centre the Queen Victoria Women’s Report Chair’s the building works. using not resist we could For this reason, member Marion photo of Trust the recent in this reportLau, OAM JP as a motif both the(see page 4) - it demonstrates floor hallway ground transformation of our and the QVWC’s into an events venue, fun - with dancingown brand of serious Iftar. and drumming - at our our governingNo other member of to compete with would presume Trust yet dancefloor supremacy, Marion’s everyone brings their own invaluable skills and expertise to the Centre’s oversight and governance. In September Kelly Johnson, 2018, we farewelled Michelle Plane and Josie Rizza - the contribution noting, particularly, continuity provided to organisational ten years of committed by Josie’s welcomed to the Trust service. We Mauwa Judith Maddigan, Florence and Sharmini Subramaniam, all of whom met the challenge of imminent strategic planning with eagerness and I should like to note generosity. great of the work my personal appreciation the Chair of our of Meghan Hopper, Finance, Audit, Risk and Governance Committee, whose diligence and boon to has been an incredible affability and efficiency. our internal processes is a collective The work of the Centre of its stakeholders. As Chair I effort am always grateful for the insight the into the talents, skills, provides role the Trust, experiences that women from the Department, the Minister’s the staff, office, our tenants and our community bring to its daily activity and to the It is a wonderful visions of its future. report any Chair to finalise a for reward with pride on what like this reflecting has been achieved in the year past, and entering the year ahead with the excitement of justifiable expectations. Badham Van Chair Trust Centre Women’s Queen Victoria Department of Premier and Cabinet,Department of Premier
the running the funding towards provides very grateful to and we are Centre additional support forhave received communications and capital works on the façade of the building. Improvements and maintenance to a heritage building can be disruptive to all users of the but a collective commitment toCentre, the building as a monumentpreserving and ambition of Victoria’s to the strength some innovativewomen has inspired adaptation to the limitations imposed by delicious Iftar dinner hosted by the localdelicious Iftar dinner and much, community, Muslim women’s for the store So much is in much more. is restraint in the months ahead, Centre what we’ve to not spill beans on required time. got planned ahead of can process The CEO recruitment multi- for be quite the adventure such as ours;stakeholder institutions and the care I must acknowledge Townsend of Kathleen professionalism Executive Solutions for meeting our requirements, complex recruitment as well as the phenomenal support the Department of from we received and Cabinet especially the Premier Women, over the course of Office for deeply in debt are the transition. We to the patience and dedication of our former Finance Manager Michelle Walsh, to the challenge of Acting as who rose our CEO until Jo joined us in February, permanent staff and to the Centre’s who let no plate fall to the floor even when the, ah, boutique physical quirks up threw of our heritage premises some operational challenges, amidst everything else. been very lucky at the Centre have We to have activist ministers for women in state government who have taken in our building, our interest direct and mission. Our strategic projects was met with enthusiasm redirection our former and encouragement from and her Natalie Hutchins MP, Minister, office. Now Minister Gabrielle Williams supporter MP has been an energetic since her appointment as our new visiting the Centre’s Minister last year, and speaking at our tenant organisations Iftar with solidarity inaugural Women’s and flair. The Victorian Government, through
ongoing work of tenant
organisations as well as those of the organisations and individuals who stage organisations events within our walls. been our own strategic But this year it’s - and an for the Centre redirection as a internal embrace of our unique role cultural institution for Victorian women new reinvigorating that has brought engagement to our and creative energy calendar of events. ever-bursting deliberate vision of the Our Trust’s without walls”, QVWC is of “a Centre our building as a hub for activities that welcome, accommodating forms create of fun, networking and engagement in a community of women. The vision is verve by Jo being driven with impressive our new CEO, whose background Porter, management and in consulting, project brings the diverse producing theatre to inform fresh set of skills required engagement strategies. Since Jo joined the team, we’ve welcomed women into our building to enjoy the spectacular of an indoor cardboard sculptures staged fabulous night picnics, garden, had women dancing on the tables at a alongside the CHAIR’S REPORT CHAIR’S This is the third report I’ve written for the report This is the third and it’s Centre Queen Victoria Women’s the one with the most enthusiasm. It has been a transformational year within our beloved building - one that has, to our with it not only brought fortune, great fun. and great change, but opportunity... by the Every year I’m staggered amount and variety of activity that the facilitates especially because Centre events occur our own programmed
Queen Victoria Women’s Centre Annual Report 2018–2019 2 Queen Victoria Women’s Centre Annual Report 2018–2019 3
Acting CEO during 2018. After 12+ Michelle left in years with the Centre 2019; we thanked her privately March to acknowledge pleasure a real but it’s her in this report. and Change is in the wind as the Trust worked together on plans for have staff watch this space for a new the future: logo, website and strategic plan. It is exciting to have been appointed to the CEO at a time when the Centre’s of role is keenly focused not only on the Trust but on the of the Centre physical nature for gender activities that have results Victoria and indeed equality across is very exciting Australia. This energy and collaborative – and a big thank you members one and all for to the Trust their support and the experience they contribute well beyond formal meetings. Jo Porter Chief Executive Officer Centre Women’s Queen Victoria
Participation in Melbourne’s Open Participation in Melbourne’s House program Festival events Melbourne Writers Participatory celebrations of Day International Women’s Iftar co-hosted by Hana A Women’s Soup Bar Assafiri and the Moroccan or groups by 13 individual Exhibitions Julia Bevz’ Siberian landscapes from Artists’ sculptures. Emerging to Grow
• • • • • My colleagues at the Centre are are My colleagues at the Centre a delight to work with, the kind of to seeing on women you look forward Mazeena Mahroof, a Monday (really!); Matthews, Peggy Maxwell and Caroline recently Naomi Podbury have more been joined by Fiona Wilson and Splendid women all. Natalie Forde. Amy Gray edited the QVWC e-news 2019 and I pay a special until March departed former tribute to our recently After serving colleague Michelle Walsh. Michelle became as Finance Manager, workshops and conferences. Occupancy workshops and conferences. which in turn supports has increased, like in-kind support of organisations Festival, Speaking the Feminist Writers Ethnic Communities Council, Made Easy, for Multicultural Centre Feminartsy, Oxfam Australia and others. Youth, or co- also presented have We activities that we hope offer presented range of attendees a way in a broad and which to engage with the Centre each other: CHIEF EXECUTIVE OFFICER’S REPORT OFFICER’S CHIEF EXECUTIVE 2018-2019 was a year of simultaneous change and continuity at the Queen Continuity Centre. Victoria Women’s is most significantly found in the sense of collegiality and dedication among they counsel, based here; organisations support, fundraise, advocate, advise stirring to hear someone It’s and more. describe their work as “feminist practice” and feel confident everyone could say that - the who works here and intellectual horsepower creativity is inspiring. housed in the Centre of our building is also Preservation continuous though activity has spiked lift is being in 2018/2019. The unreliable and façade preservation replaced works commenced in early 2019. These including repointing, refurbishments, are and waterproofing, repainting the physical aimed at preserving at a time when integrity of the Centre “weather events” such as those that water-logged wading across found staff surfaces in December 2018 remind us that contemporary governance influenced by are responsibilities climate change. Façade refurbishments specifically supported by the were Victorian Government, supervised and by Lovell Chen Architects implemented by HBS Builders. on ways of extending working are We our accessibility but in the meantime have continued business-as-usual our venues which includes providing for meetings, celebrations, seminars, Actual 2018–19 Actual complete 100% 14,240 achieved complete 35,326 $27,920 complete $220,739 achieved Target 2018–19 Target Per Act 95% 13,000 85% at “high” or “very high” satisfaction 40,000 $30,000 Per Agreement Per Agreement $100,000 not more than 5%. than not more Pictured, Women’s Iftar 2019 Women’s Pictured,
To sustain the maintenance and heritage condition of the Centre building Centre maintenance and heritage condition of the sustain the To Key Performance Indicator Performance Key Maintain office rental space occupancy (i.e. excl short term rentals) occupancy (i.e. excl short term rental space Maintain office Number of women utilising the Centre Number of women utilising Satisfaction rates of attendees undertaking the programs &/or the programs Satisfaction rates of attendees undertaking services provided Events drawing people to the Centre, reflecting its brand, providing its brand, providing reflecting Events drawing people to the Centre, Centre to women & showcasing the Information relevant Unique visitors to website 2,340 at June 2018 - Facebook 2,784 followers up from Value of in-kind partnership support provided to women & women’s to women & women’s support provided of in-kind partnership Value (venue and gallery access) organisations Compliance including submission of Annual Report submitted to Parliament Compliance including submission of Annual and Cabinet, of Premier to Department and 20 copies and a PDF delivered Women Office for Venue Hire Income (note limited availability of Victoria Income (note limited Room due to Hire Venue lift replacement) lift replacement) Variance in budgeted deficit Variance Pictured, N’arweet Carolyn Briggs, N’arweet Carolyn Pictured, International Women’s Day Welcome to Country Day Welcome International Women’s
As a statutory body that receives funding from the Victorian Government, the Queen Victoria Women’s Centre Trust is Trust Centre the Victorian Queen Victoria Government, the Women’s funding from that receives As a statutory body summarised in the table below: are and results performance criteria. The key indicators to meet a number of required YEAR IN REVIEW YEAR IN
Queen Victoria Women’s Centre Annual Report 2018–2019 4 Queen Victoria Women’s Centre Annual Report 2018–2019 5 Event 3, Monday 27 August 6pm, Event 3, Monday 27 QVWC How I Survived: Sally Rugg and Samantha Maiden discussed their marriage equality friendship, Australia’s family history vote and shared 6pm 28 August Event 4, Tuesday at QVWC Deepanjana Pal spoke about India’s movement and Raya Sarkar’s #MeToo infamous list of abusive men Melbourne Writers Festival August August 2018 Festival Melbourne Writers in 2018, Festival continued QVWC and Melbourne Writers between The relationship Edge and two at Deakin four events – two in the Centre supporting with the Centre primarily based. Festival was the Writers where August 11.30am Event 1, Sunday 26 Square at Deakin Edge, Federation texts – The Book That Made Sacred Me A Feminist Emily Nussbaum, Michelle Law, Neko Case, Maxine Beneba Clarke, Hollie McNish Event 2, Sunday 26 August 2.30pm at Deakin Edge, Federation Square Homecoming Queens Corrie Chen, Yassmin Michelle Law, Stynes (Host) Abdel-Magied, Yumi Pictured, Melbourne Festival, clockwise from Pictured, Writers top: Deepenjana Pal; Sally Rugg and Samantha Maiden; Event attendees Open House Melbourne Open House Melbourne 28 July 2018 Melbourne Since 2008, Open House visits than 900,000 has facilitated more In 2018 Melbourne. to 934 sites across Centre the Queen Victoria Women’s open, the doors once again threw along tours and refreshments, providing panels with displays and interpretative featuring photos and memorabilia from collection. the Centre’s The activities described below are a selection of the public a selection of are below The activities described in 2018/19. that took place at the Centre events by Lidia Thorpe, call to prayer by Aseel by Lidia Thorpe, call of Honour The Hon Guest Tayah, Gabrielle Williams MP with speeches, by Hana and performances reflections Mehreen Van Badham, Senator Assafiri, Tufi. and Talto Faruqi, Samah Sabawi Online newsletter continued on a The online newsletter by Amy Gray until monthly basis edited 2019. In April 2019 instead of a March to tell newsletter we asked recipients us about themselves and the answers as insightful and varied as we had were imagined. In 2019/2020 the newsletter but all and relaunched will be refocused newsletters will continue to be previous available at www.qvwc.org.au
The idea of a Women’s Iftar became a The idea of a Women’s discussed it as we very exciting reality and explored with co-host Hana Assafiri evening. Withthe possibilities of the maths and the lift out of action, as up dredged geometry skills were women we out how many we figured The Moroccan could fit in the foyer. fancy lanterns and Soup Bar provided velvet drapes, we found veeery skinny chairs and lots of flowers and the iconic was transformed. hallway of the Centre booked as soon as they Places were 120 women broke and offered were fast together: eating, discussing and dancing! Acknowledgement of Country Women’s Iftar Iftar Women’s May 2019 May
Jamie Lewis
were hosted were
Suzanne Crowe, Jenna Suzanne Crowe,
Humphries. The picnic
Pictured Women’s Iftar Women’s Pictured and Eliza Jane Gilchrist Indoor Garden provided to encourage visitors provided
tablecloths.
on Georgina was also notable as a significant stakeholder consultation, with attendees leaving suggestions written future for the QVWC’s Badham, Dr Amelia Davey-Burns, Amy Gray, Lovett Kassiras, Kagi Kowa, Virginia and Giulia Savio. Décor was by facilitated by artist and picnic tables Briggs, Van by N’arweet Carolyn : On 7 March 2019 there 2019 there : On 7 March REPAST at an IWD-eve was plenty of repast 80 people picnic. Approximately sat at picnic tables in the Victoria Room for an event featuring exchanges of ideas, opinion, drawings, jokes and tunes from Nakier Deng. Conversation was : 6 March 2019 saw a RESPECT: 6 March lunchtime conversation between Leta Hong Fincher and Bhakthi Puvaninthiran. Leta is the author about of “Betraying Big Brother” Feminist Five, and Bhakti China’s was then the Associate Editor (now Managing Editor) of Crikey.com also to stay awhile : From 6 to 9 March 2019 6 to 9 March REFLECT: From in an we encouraged reflection in the Lonsdale Street indoor garden An exhibition foyer of the Centre. sculptures of botanically inspired by Eliza Jane Gilchrist were created by Inscape. set in plants provided Chairs and a water fountain were
• • • For IWD 2019, QVWC focused on For IWD 2019, QVWC with the Centre inviting people into repast. respect and themes of reflect, to own their encouraged visitors We participation experiences through and contribution. International Women’s Day International Women’s 2019 March
Queen Victoria Women’s Centre Annual Report 2018–2019 6 Queen Victoria Women’s Centre Annual Report 2018–2019 7 Pictured, clockwise from far left, clockwise from Pictured, Eileen Ervine book launch, The of Araluen ExhibitionWomen Bullock, WhiteOpening, Carole Light: Loss exhibition opening. regular, returning and new clients. Usage and new clients. returning regular, the previous by 30% over has increased 12-month period. The range of activities in the venues include education and training, and industry workshops, professional networking and information sessions, meetings, board meetings, staff and policy launches, political product announcements, a mini festival and performance events. The number of less than 10 up guests ranges from of women to 150 and the percentage attending those events is well over 50%. Venues the venueOver the last 12 months exhibition space)spaces (including the events. The than 360 have hosted more the same levelvenues have maintained of activities and visitors as the previous 12-month period whilst adapting to the caused by a lengthy period restrictions of building works. to fulfil community Our continued effort and centrally located need for affordable meeting space in a friendly environment that the venues remain has ensured all an attractive choice for clients from popular with sectors. The venues are
support services.
and A community of women’s A community of women’s a range of that offer organisations and health information, research The Lonsdale Street Entrance, a space The Lonsdale Street history panels to view the building’s and the Shilling Wall. The Exhibition Space, intended women artists, to benefit emerging public of free the provision through exhibition space. Two venues and a small meeting room and a small meeting room venues Two training that cater for conferences, events, networking and information made available sharing and are and not-for-profit to women’s at discounted rates to organisations inclusion and accessibility. ensure
INSIDE THE QVWC – VENUES, GALLERY AND TENANTS GALLERY – VENUES, INSIDE QVWC THE • • • through access to, and use of the QVWC access to, and use through manages: facilities, the Trust • Committed to optimising public benefitCommitted to optimising Each year the Queen Victoria Women’s Centre directly directly Centre Women’s Victoria the Queen year Each training, in events, who participate women benefits at the Centre. provided services and information programs CASA House (Centre Against Sexual Assault) CASA House (Centre Inc (CSMC) Council of Single Mothers and their Children Counterpart Domestic Violence Victoria (DV Vic) List Australia EMILY’s Fitted for Work Ovarian Cancer Australia
The Trust provides secure and affordable tenancies to women’s tenancies to women’s and affordable secure provides The Trust is Although each tenant organisation in the Centre. organisations that is actively sense of community is a strong independently run, there mutual encouragement and which provides within the Centre fostered networks. assistance for women and women’s The tenants for 2018-19: • • • • • • • Pictured, Photography Studies Exhibition Opening. Photography Studies Pictured, Tenancy 317 days than 410 women used by more and hours available as part of tenancy agreements, 105 free than 737 women totalling more organisations access to meeting spaces for 12 women’s Free than 25 artists of more the works exhibition space for 13 exhibitions, presenting Free 14,240 Access provided Access Venue users Venue business and Not-for-profit, government organisations use QVWC tenants free organisations/ women’s Grassroots individuals needing meeting space Exhibition space number of Total visitors/women visitors – Women Artists of Araluen Araluen – Women Northern College of Arts and Technology Northern College of Arts and Technology – Serendipity Jodie Webb (NCAT); - A Community of Artists – Grow Grow Eliza Jane Gilchrist – A Place…Fo[R]eflection Photography Studies College – Effloresce QVWC – QVWC History Panels and Images Metropolitan Fire Brigade – Anniversary Fire Metropolitan of Operational Women Exhibition – 35 Years Julia Bevz – The Beauty of Russian Siberia – Between the A and B: Michele Burder Parks and Laneways Carmel O’Connor – Silence Mary Zhao – Melbourne Transport J Bullock – White Light Carole Counterpart – 15th Birthday Exhibition
• • • • • • • • • • • • • Exhibition Space free continues to provide The Exhibition Space organisations and women’s access to female artists following individuals, The exhibiting at the Centre. in the exhibited and organisations groups 2018-19 and artworks Exhibition Space during sculpture, photography, included paintings, displays. Opening ceramics and audio-visual Enquiries for the well attended. events were and bookings are increasing, Exhibition Space are underway for 2019-20.
Queen Victoria Women’s Centre Annual Report 2018–2019 8 Queen Victoria Women’s Centre Annual Report 2018–2019 9 Coordinator Contract Staff Contract Venue Manager Venue Finance Manager Finance & Property Finance & Property Venues Coordinator Venues Communications Coordinator CEO Trust
– Communications Coordinator (from June 2019) (from – Communications Coordinator Natalie Forde – Finance Manager (February to March 2019) – Finance Manager (February to March Michelle Walsh to June 2019) Matthews – Acting Finance Manager (March Caroline June 2019) Fiona Wilson – Finance Manager (from – Venue Manager Naomi Podbury – Venue and Administration Coordinator Peggy Maxwell – Venues Matthews – Acting Finance Manager (until February 2019) Caroline – Chief Executive Officer (from January 2019) Jo Porter – Chief Executive Officer (from Coordinator – Finance and Property Mazeena Mahroof Michelle Walsh – Acting Chief Executive Officer (until January 2019) Michelle Walsh
STAFF • • • • • • • • • Centre Personnel Centre • QVWC Organisational Chart Organisational QVWC Graduate Diploma
(Archives and Conservation). (Archives
Traci Williams has over 20 years Traci experience in government, professional workplaces corporate and not for profit in federal government policy, She communications and media roles. spent 6 years with ABC TV News as a journalist in Melbourne and Sydney joining the Australian Foreign before Affairs Service (Department of Foreign Sciences SHARMINI SUBRAMANIAM Sharmini is a Principal Lawyer with Aitken Partners and the head of the Family Law Family department. She is an Accredited Law Specialist. Due to her extensive of family law, experience in the area Sharmini is passionate about women’s rights, gender equality in the workplace to family violence. and issues related Sharmini is a member of the Currently, Family Law Section of the Law Council of Australia, the Law Institute of Victoria and the Asian Australian Lawyers her professional Association. Throughout Sharmini has been involved with career, including the Tamil other organisations Australia, the Ladies Club of Western Migrants’ Legal Information Women’s Committee and the Association for Survivors; and Trauma Services to Torture women and all aimed at providing and support. migrants with care WILLIAMS TRACI JUDY MADDIGAN JUDY and successfulJudy has had a long a librarian She was political career. is the entering politics. She before seat of Essendonformer member for the representing in the period 1996—2006 was the First She the Labor Party. the House Deputy Speaker in Woman She was thein the period 1999-2002. of the Legislativefirst woman Speaker 2002-2006. Assembly from Chair of the Public She is currently Advisory Council, a Board Records Member of the Emerald Railway Tourist Member of the and a Board Board Beaufort Bendigo Community Bank. Judy holds a Bachelor of Commerce, of Librarianship, and a Masters of Librarianship and Information FLORENCE MAUWA FLORENCE is a human resources Florence and finance leader with extensive experience. and board professional Her experience has been gained in Australia and several emerging markets in a variety of sectors including and financial services and professional is passionate communications. Florence about community diversity and and as groups empowering marginalised actively participates on various a result, serves She currently community boards. of the African on the boards as Treasurer Music and Cultural Festival (AMCF) Foundation. She is a and Safe Futures qualified accountant (FCCA) and has served as a panel member representing on the Association Victoria and Tasmania Certified Accountants of Chartered (ACCA) Australia and New Zealand member panel. She is also a member Institute of Personnel of Chartered and Development (MCIPD) and has a Masters of Business Administration from Australia. Western University, Murdoch MEGHAN HOPPER the QueenMeghan Hopper joined in May Trust Centre Victoria Women’s media and 2018. Meghan is a policy, has worked who campaigns professional of women’s primarily in the fields and equity and safety, representation, social change. She is completing a PhD School of Media, in Monash University’s the Film and Journalism, researching of reporting print media’s mainstream female candidates during Australian federal election campaigns. An Meghan director, experienced board served on the Council has previously of of Monash University and the board Park, and for four CERES Environment years was an elected Councillor in the including one year as City of Moreland, youngest-ever female Mayor. the City’s She is a graduate of the Australian and the Institute of Company Directors Board Women’s Victorian Government’s Leadership Program. commentators. She is a columnist forcommentators. She guest Australia, and a regular Guardian Q and A. Sheof both The Drum and tweets via @vanbadham.
Queen Victoria
the
services and facilities
Queen Victoria Women’s Centre. Queen Victoria Women’s
the Queen Victoria Women’s the Queen Victoria Women’s
Trust meet on a regular basis to meet on a regular Trust
Undertake any other functions that on the Queen Victoria conferred are by the Act. Trust Centre Women’s the for the efficient financial Provide management of the Queen Victoria land and building and Trust Women’s seek funding for the Queen Victoria Centre. Women’s provided by provided Centre. Women’s for the management, Provide of operation, use and promotion Provide information in relation information in relation Provide to the Provide, on the Queen Victoria Provide, land, services Trust Centre Women’s and facilities for women including and health information services, rest and other services meeting rooms, and facilities. Manage the Queen Victoria Women’s Manage the Queen Victoria Women’s land and use it for the Trust Centre purposes of a facility known as the Centre. Queen Victoria Women’s
VAN BADHAM BADHAM VAN Chair critic, Badham is a Victorian writer, Van trade unionist, feminist, activist and an internationally occasional broadcaster, and one theatremaker award-winning social most controversial of Australia’s the fulfil policies strategic directions, Centre’s and philosophy. Members are: Trust The current • • • • • • GOVERNANCE The Trust is a not-for-profit organisation organisation is a not-for-profit The Trust with charitable status. Members of The Queen Victoria Women’s Centre Centre The Queen Victoria Women’s under the Queen was established Trust Act 1994 Trust Centre Victoria Women’s acts as a and to govern the Centre, with the statutory authority consistent in section meaning of ‘public body’ Act 3 of the Financial Management up to 12 comprises 1994. The Trust by the Governor- members, appointed of in-Council on the recommendation fulfil the to the Minister for Women, by following obligations as prescribed the establishing Act:
Queen Victoria Women’s Centre Annual Report 2018–2019 10 Queen Victoria Women’s Centre Annual Report 2018–2019 11 Society of Victoria. Her other roles Society of Victoria. Her other roles include: Member of the Small Business Mentoring Service and the Chinese and Business Association, Professional of Doutta Gala Aged Former Director Services, and inductee into the Victorian Honour Roll of Women. DERTIMANIS CONSTANTINA Ms Constantina Dertimanis is a public who has extensive policy professional experience as a senior advisor to State and Federal Ministers. She is a passionate advocate for cultural diversity, human rights and dignity for people She has worked living with a disability. United Nations projects on high profile advocating in partnership with global Ms Dertimanis wide-ranging NGO’s. experience in community engagement that she gives voice to culturally ensures table. diverse communities at the Board than 20 spanning more Over a career the corporate, Government years across and non-Government sectors she has a of driving change to track record strong communities. She assist marginalised has a Diploma in International Studies and a Bachelor of Arts – Majoring in Government, Philosophy and Economics. MARION LAU OAM JP OAM MARION LAU the Miss Lau, OAM JP is currently of the Ethnic Communities Secretary Council of Victoria. She is passionate about pursuing the principles of equal access and inclusion, and social justice for the whole Miss Lau has professional community. experience working for government in of health, aging, and small the areas a member business, and is currently of the Victorian Multicultural Business Ministerial Council and the Justice Health Ministerial Advisory Committee. Miss Lau is a long-time leader of the Chinese community and advocate on diversity issues, and is Past President of the Chinese Health Foundation of Australia and Chinese Community Tracy is currently researching a PhD researching is currently Tracy for Social Impact the Centre through at Swinburne University in the field of Social Investment. volunteers with the Red currently Traci and Program Community Visitor’s Cross with Story in the past has volunteered Bay Indigenous Surfing Dogs, Byron School, Prahran Mission Winter Breakfast Somali and the Red Cross’ Program Community Project.
and grantmaking, social
From left; Merrin Mason, Traci Williams, Florence Mauwa, Jenna Davey-Burns, Van Badham, Constantina Dertimanis. Williams, Mauwa, Jenna Davey-Burns, Florence Van left; Merrin Mason, Traci From Marion Lau OAM JP. bottom right); Sharmini Subramaniam, Meghan Hopper, top right to Absent (pictured fundraising Indigenous investment and policy, and engagement, and affairs communications strategy. Fellow to the is a former Churchill Traci USA and Canada, Chevening Scholar Fellow at College Press and Wolfson Cambridge University in the UK. She has an MA (International Relations) an Executive Deakin University, from Melbourne Business School MBA from and an MA (Social Investment and Swinburne University. from Philanthropy) Trust Members as at 30 June 2019 Trust and Trade) as a diplomat where she as a diplomat where and Trade) undertook a posting to London for years lobbying and undertaking three international negotiations on Australian on policy and reporting foreign political developments in the UK and on human rights, environment in the issues. Later, non-proliferation team at Qantas, over Corporate Affairs years she led the company to three as a corporate become recognised reconciliation and leader in the field of when in particular, Indigenous affairs community she managed the company’s investment function. now runs her own consultancy Traci advising corporates, government of in the areas and not for profits Jenna Davey-Burns February 2019) (from Mauwa Florence February 2019) (from Badham (ex officio) Van Amy Hudson Merrin Mason (Chair) Badham Van Williams Traci Josie Rizza (to September 2018) Kelly Johnston (Chair to September 2018) Michelle Plane (to September 2018) Meghan B Hopper October 2018) (Chair from
• • • • In April 2019, the Trust formed a Policy In April 2019, the Trust Committee, the members of which are: • • • Risk & Audit, Finance, Committee Governance as meet regularly Members of the Trust the Finance, Audit, Risk and Governance to meet its Committee to assist the Trust The Trust governance responsibilities. acknowledges the important voluntary contribution of Amy Hudson, the external member of the Finance, Audit, Risk & Governance Committee. • • • • anniversary between Victoriaanniversary between and Aichi. in leadershipJenna values wisdom the Cranlanaand has completed a Masters inColloquium and holds and a Bachelor ofInternational Politics Gender Studies)Arts (Criminology and A the University of Melbourne. from has led change passion for creating Leadership Jenna to mentor through Victoria, at AMES and the teach English Integrated LearningSudanese-Australian School in Dandenong, volunteer Aboriginal community in a remote with to children respite and provide on disabilities. Jenna was also a Director of Cambodian Kids Can from the board 2014 to 2018, dedicated to improving educational opportunities for young women in Cambodia. Committee Policy End date Ongoing Ongoing Ongoing Ongoing Ongoing Ongoing Ongoing Ongoing Ongoing Ongoing 19.9.18 19.9.18 19.9.18 1.4.17 4.5.17 15.5.18 30.9.14 15.5.18 15.9.08 23.3.17 23.10.18 11.10.16 11.10.16 11.10.16 23.10.18 23.10.18 Start date Start 7 Meetings attended 5 8 7 7 7 7 3* 3 4 2 1 2 a Bachelor of Laws from the Australian the a Bachelor of Laws from and is admitted to National University, of Australianpractice law in a number of Vanuatu. states, and the Republic JENNA DAVEY - BURNS JENNA DAVEY a gender andJenna Davey-Burns is specialist withhuman rights policy both not- across extensive experience Jenna and Government sectors. for-profit women affected has worked closely with Bushfires, by the 2009 Black Saturday undertaken inter-governmental policy work with the United Nations on anti-human project Inter-Agency recently, trafficking in Bangkok and most advising on implementation of the Royal Commission into Family Violence highlights with Djirra. Other career include management of the Victorian Multicultural Commission grants a United States Congressional program, internship and travelling to Japan as and Cabinet the Department of Premier for the 35th sister state representative 8 Eligible to attend 5 8 8 8 8 8 4 5 5 2 2 2
Vanessa Badham Vanessa Chair) (Trust Trust Member Trust Florence Mauwa Florence Meghan Hopper Committee Chair) (FARG Marion Lau OAM JP Williams Traci Jenna Davey-Burns Constantina Dertimanis Merrin Mason Sharmini Subramaniam Judith Maddigan Josie Rizza Michelle Plane Kelly Johnson * Note that Ms Mason took leave of absence from the Trust for 4 months August to November 2018 inclusive the Trust * Note that Ms Mason took leave of absence from Trust Attendance Trust
MERRIN MASON the VictorianMerrin is the CEO of Law and has manyReform Commission in legal policy andyears of experience with government agencies research andincluding both the Commonwealth Victorian Parliaments. and research moving into policy Before law in positionswork, Merrin practiced in NSW centres with community legal and Victoria. She also worked for the Legal Aid Commission of Western Australia in Port Hedland, undertaking work in small towns court circuit She the Pilbara region. throughout spent two years working with the a family Centre, Women’s Vanuatu violence crisis centre. She has served on the management committees of two Sydney youth Community and the Darebin refuges Legal Centre. Merrin has a Bachelor of Arts (majoring studies) and in sociology and women’s GOVERNANCE
Queen Victoria Women’s Centre Annual Report 2018–2019 12 Queen Victoria Women’s Centre Annual Report 2018–2019 13 The Victorian Industry Participation Departments Policy Act 2003 requires on and public sector bodies to report the implementation of the Local Jobs First-Victorian Participation Policy (Local Jobs First-VIPP). Departments required and public sector bodies are to apply the Local Jobs First-VIPP in activities valued at all procurement in metropolitan $3 million or more Melbourne and state- wide projects, for procurement or $1million or more Victoria. activities in regional into entered During 2018-19, the Trust no contracts of this kind. Independent audit independent audit is The Trust’s undertaken by the Victorian Auditor- report is Office. The audit General’s to the Finance, Audit, initially presented Risk and Governance Committee and then to the Trust. Merit and equity is committed to ensuring that The Trust are all decisions in the organisation based on merit, that equal opportunity in employment and that is provided with processes provided are staff unfair or unreasonable to review expected members are Staff treatment. services that responsive to provide meet the needs of women, women’s and other members of organisations or apparent the public, to avoid real and to show conflicts of interest, accountability for their actions. who can be contacted on 03 8668 8100 who can be contacted on 03 8668 8100 or via [email protected]. For the 12 months which ended on no received 30 June 2019, the Trust for information under FOI. No requests or are went into internal review requests with VCAT. in process Victorian Industry Policy Participation Freedom of Information Act Information of Freedom of Information Act 1982 The Freedom (FOI) allows the public a right of access to documents held by the QVWC, including strategic and administrative documentation. An application fee of $29.60 applies at the time of this publication. A decision to Report’s information under the Act is release The made by an Authorised Officer. has determined that its Authorised Trust Officer is the Chief Executive Officer, Environmental Environmental sustainability initiatives is committed to exploring The Trust the overall further initiatives to improve sustainability of the building. This year of changing we continued a program will lights to LED lights. This program continue until all lights have been which may take another two replaced years. These initiatives continue the the commitment to improving Trust’s and water efficiency of overall energy the building. In addition, a fortnightly that plant waste collection ensures green disposed of responsibly. materials are continues to use its website The Trust as the primary mode of publication and distributed newsletters were regular 2019 until 30 March electronically when the publication went into hiatus was considered. while a new approach Key publications such as the Annual printed using 100% recycled Report are and its The Trust paper. resource emailed to Committees’papers are possible. members wherever appointing staff. The selection appointing staff. that applications ensure processes and evaluated fairly assessed are and equitably on the basis of the key selection criteria and other accountabilities. is committed to ethical and The Trust accountable behaviour in accordance with its Code of Conduct. Multicultural
The Trust is committed to applying The Trust merit and equity principles when Employment and Employment conduct principles Van Badham Van Chair Trust Centre Women’s Queen Victoria
I am pleased to present the I am pleased to present Act 1994 and the Audit Act 1994, with the Financial Management In accordance for the year ended 30 June 2019. Trust Centre for the Queen VictoriaReport of Operations Women’s REPORT OF OPERATIONS REPORT Diversity is respect, A key value of the Trust defined as being mindful of the diversity needs, aspirations and beliefs of those with whom we engage. In line with the emphasis on Victorian Government’s fostering inclusion and the Community Inclusiveness the range of strategies promote A broad activities. inclusiveness of the Centre’s is to provide primary role The Trust’s venues, information and support to It organisations. women and women’s that activities, services andalso ensures conducted or supported byprograms welcoming to those from are the Trust young people anddiverse cultures, Indigenous communities, with activities the specific needs ofdesigned to address disadvantaged sectors of the community. Building Act Building Act 1993 of takes the approach The Trust towards continuous improvements ensuring that it is compliant with the building and maintenance provision of the Building Act 1993, including the systems maintenance of air-conditioning and lifts, building safety and compliance with the Building Code of Australia as it applies to heritage buildings. During the year ending 30 June 2019 the Trust the east began capital works to restore and and west facades of the Centre the lift. The number of building replace one and certificates permits issued were nil. of final inspection issued were , the Centre’s programs, programs, Victoria Act 2011, the Centre’s this policies and services reflect a commitment in working to provide vibrant space for women and women’s exchange ideas, to gather, organisations take action and achieve their goals.
(8,231) (9,193) 342,770 975,073 164,484 150,527 (983,304) 20,811,748 2014/15 Future expenditure GST) (excl. $22,000 $10,750 886,388 652,270 169,009 1,100938 1,323,000 1,932,774 (1,046,38) 22,904,051 2015/16 Expenditure 2018-19 GST) (excl. $36,250 $12,000 Protected Disclosure Act 2012 Disclosure Protected The to make and assists people encourages by conduct of improper disclosures The and public bodies. public officers who to people protection Act provides with the in accordance make disclosures for mattersAct, establishing a system and rectifying disclosed to be investigated action to be taken. ensuring is committed to The Trust and accountability in its transparency practices.administrative and management of disclosures It supports the making corrupt conduct, conduct that that reveal ofinvolves substantial mismanagement conduct involving a or public resources, substantial risk to public health and safety will comply The Trust or the environment. people protect that with regulations any from who make such disclosures of making detrimental action as a result natural It will also afford the disclosure. justice to the person who is the subject of the disclosure. Protected Disclosures Protected 68,367 65,412 531,075 299,837 180,638 1,209,040 (1,140,673) 23,876,141 2016/17 Total approved approved Total feeproject GST) (excl. $58,250 $22,750 344,352 198,336 183,950 1,062,420 1,129,032 (1,111,413) (48,993) 31,128,754 2017/18 Details of consultancies under $10,000 Details of seven consultancies engaged during the were In 2018-2019, there the total fees payable to the individual consultancies where year, during incurred was less than $10,000. The total expenditure to these consultancies was $27,193 (excl. GST). 2018-2019 in relation End date 30 June 2020 31 December 2019 339,956
1,639,352 2,455,785 1,122,852 1,062,336 1,428,996 (1,332,933) 33,250,541 2018/19 Protected Disclosure Coordinator Disclosure Protected Chief Executive Officer 210 Lonsdale Street Melbourne VIC 3000 03 8668 8100 Tel: Email: [email protected] Commission Independent Broad-based Against Corruption (IBAC) ibac.vic.gov.au www. Further information: written guidelines outlining the system for reporting conduct or of improper disclosures or its detrimental action by the Trust for on request available employees are public perusal. fire wardens, as well as a full simulated full simulated well as a as wardens, fire also attended QVWC staff evacuation. during the period, First Aid training to was also made available this training tenant organisations. Procedures Reporting conduct or of improper Disclosure or the Trust detrimental action by made to the its employees may be the or Coordinator Disclosure Protected Ombudsman Victoria. Start date Start 29 March 29 March 2019 26 June 2019 Purpose of consultancy Communication & strategy plan, project rebranding Communications Income from government Income from Total income from transactions income from Total Total expenses from transactions expenses from Total Net result from transactions from Net result Net result for the period Net result Net cash flow from operating activities Net cash flow from Total assets Total Total liabilities Total due to increased venues incomedue to increased Income excluding income from Government is higherIncome excluding income from A capital grant of $1.2 million received during the 2018-19 year A capital grant of $1.2 million received Consultant Willet Marketing Maria O’Dwyer
Details of consultancies over $10,000 consultancies over Details of $10,000 or greater. the total fees payable to the consultants were where two consultancies were In 2018–19, there • Overview • Current year financial review financial year Current Five year financial summary financial year Five The health and wellbeing of staff and of staff The health and wellbeing standing users are the safety of building regular Centre’s agenda items for the regular meetings, as well as the staff tenant meetings. Incidents, hazards tracked and potential dangers are and investigated, and actions taken to identified. are problems address has continued its contract The Centre QVWC with First 5 Minutes to provide tenants with high-level fire and staff response safety and emergency training annual warden training. Three to all building provided sessions were Occupational health and safety Occupational health National competition policy National enable neutrality seeks to Competitive between government fair competition sector businesses. and private or disadvantages Any advantages businesses may that government of a result experience, simply as should be government ownership, continues to neutralised. The QVWC this principle in implement and apply business undertakings.
Queen Victoria Women’s Centre Annual Report 2018–2019 14 Queen Victoria Women’s Centre Annual Report 2018–2019 15
Capital expenditure $0 A general statement on industrial within the QVWC, the relations purposes of each committee and the extent to which the purposes have been achieved. activities undertaken by the Queen to Trust Centre Victoria Women’s of develop community awareness by the Queen the services provided Trust. Centre Victoria Women’s Details of assessment and measures the undertaken to improve occupational health and safety of employees, not otherwise detailed in of operations. the report
• Email: [email protected] • The information is available on written from: request Chief Executive Officer 03 8668 8100 Tel: Operational expenditure $0 Details of any major promotional, Details of any major promotional, and marketing public relations Details of any major external reviews Details of any major external reviews of the operation carried out in respect of the Queen Victoria Women’s for its services, including Trust Centre administered. services that are and Details of any other research development activities undertaken by Centre the Queen Victoria Women’s not otherwise covered, that are Trust of operations or in either in the report a document that contains the financial of operations. and report report Details of overseas travel undertaken, including a summary of the objective and outcomes of each visit. Details of publications produced by Details of publications produced Centre the Queen Victoria Women’s about the activities of the Trust Trust they can be obtained. and where
• • • • • ICT expenditure related to projects to create or enhance ICT capabilities ICT enhance or to create to projects related expenditure ICT Non-Business As Non-Business As Usual expenditure ICT (non-BAU) $0 subsidiary.
or Details of shares held by senior Details of shares officers as nominee or held beneficially in a statutory authority Statements that declare pecuniary Statements that declare that have been duly interests officers of completed by all relevant Centre the Queen Victoria Women’s Trust. Business As Usual (BAU) Usual As Business expenditure ICT $15,901 All operational ICT expenditure ICT All operational
Details of Information and Communication Technology (ICT) expenditure (ICT) Technology and Communication Information of Details with the details of $15,901 ICT expenditure had a total Centre Queen Victoria period, the Women’s reporting For the 2018-2019 shown below. Van Badham Van Chair Trust Centre Women’s Queen Victoria 21 August 2019 Queen Victoria Women’s Centre Trust Financial Management Compliance Financial Trust Centre Women’s Queen Victoria Attestation Statement Trust, Centre Badham, on behalf of the Queen Victoria Women’s I, Van has complied with the Trust Centre certify that the Queen Victoria Women’s of the Minister for Finance under the Financialapplicable Standing Directions Management Act 1994 and Instructions. Attestation for financial management compliance with financial management compliance for Attestation Ministerial Standing Direction 5.1.4 • • In compliance with the requirements In compliance with the requirements of the of the Standing Direction Minister for Finance, details in respect of the items listed below have been available and are by the Trust retained Ministers, Members of to the relevant Parliament and the public on request of Information (subject to Freedom requirements): Additional Trust information Trust Additional on request available ICT expenditure refers to the Trust’s costs in providing business-enabling ICT services. It comprises Business As Usual (BAU) ICT services. It comprises Business business-enabling costs in providing to the Trust’s refers ICT expenditure or to extending relates Non-BAU ICT expenditure As Usual (Non-BAU) ICT expenditure. and Non-Business ICT expenditure to relates which primarily ICT expenditure, is all remaining expenditure ICT capabilities. BAU ICT current enhancing the Trust’s ICT capability. operate and maintain the current ongoing activities to
statements for issue on 22 August 2019. Badham Van Chairperson Trust Centre Women’s Queen Victoria 210 Lonsdale Street Floor, Ground Melbourne VIC 3000 22 August 2019 Jo Porter Chief Executive Officer Trust Centre Women’s Queen Victoria 210 Lonsdale Street Floor, Ground Melbourne VIC 3000 22 August 2019 Declaration in the financial in the financial Declaration statements statements for the The attached financial Trust Centre Queen Victoria Women’s with in accordance have been prepared Directions 5.2 of the Standing Direction the under of the Assistant Treasurer Act 1994, Financial Management Reporting Directions, applicable Financial including Standards Australian Accounting mandatory and other Interpretations, requirements. reporting professional state that, in our opinion, the further We information set out in the comprehensive operating statement, balance sheet, cash flow statement of changes in equity, statement and accompanying notes, fairly the financial transactionspresents during the year ended 30 June 2019 and Trust at 30 June 2019. financial position of the not aware At the time of signing, we are which would render of any circumstance any particulars included in the financial statements to be misleading or inaccurate. the attached financial authorise We 43 44 44 44 44 26 27 28 28 30 30 31 32 32 32 33 33 36 36 41 41 41 42 42 19 20 21 22 23 24 24 26 rusts
about the T
es
e
ed in delivery of services
Financial instruments specific disclosur Contingent assets and contingent liabilities Fair value determination Cash flow information and balances Commitments for expenditur T Receivables Payables Summary of income that funds the delivery of our services Summary of income that funds the delivery Expenses incurr Other operating expenses
8.7 Subsequent events not yet effective issued that are 8.8 Australian accounting standards 8.9 Style conventions 8.4 Remuneration of executives 8.5 Related parties 8.6 Remuneration of auditors 8.1 Other economic flows included in net result 8.1 Other economic flows included in net 8.2 Reserves 8.3 Responsible persons 7.2 7.3 8. Other disclosures 7. Risks, contingencies and valuation judgements Financial risk management. Contingent assets and liabilities as well as fair value determination 7.1 Cash flow information 6.1 6.2 5.1 5.2 6. Financing our operations 4.1 5. Other assets and liabilities plantandfurniture otal property, and other key assets and liabilities capital balances, Working 3.2 delivery 4. Key assets available to support output plant and furniture Land, buildings, property, 3. The cost of delivering services Operating expenses of the Trust 3.1 2. Funding delivery of our services other sources and grants, rental from Revenue recognised 2.1 1. About this report have been The basis on which the financial statements obligations. and compliance with reporting prepared Balance sheet Cash flow statement Statement of changes in equity Notes to the financial statements stewardship of resources entrusted to it.. of resources stewardship Financial Statements operating statement Comprehensive The Queen Victoria Women’s Centre Trust has presented its audited general its audited has presented Trust Centre The Queen Victoria Women’s June 2019 in the for the financial year ended 30 purpose financial statements users with the information to provide following structure For the year ended 30 June 2019 ended 30 year the For is structured this report How FINANCIAL STATEMENTS FINANCIAL FINANCIAL STATEMENTS FINANCIAL Queen Victoria Women’s Centre Trust Centre Queen Victoria Women’s
Queen Victoria Women’s Centre Annual Report 2018–2019 16
17 Queen Victoria Women’s Centre Annual Report 2018–2019 VAGO INDEPENDENT AUDITOR’S REPORT AUDITOR’S INDEPENDENT VAGO VAGO INDEPENDENT AUDITOR’S REPORT AUDITOR’S INDEPENDENT VAGO
Queen Victoria Women’s Centre Annual Report 2018–2019 18 Queen Victoria Women’s Centre Annual Report 2018–2019 19 $ - 2 2018 6,216 1,979 344,352 709,873 (48,993) (238,616) (437,083) (435,714) 1,178,023 6,120,270 1,062,420 1,178,025 1,129,032 6,120,270 7,249,301 (1,111,413)
$ - 1 2019 29,304 49,404 (60,516) 903,447 737,726 (60,517) 903,447 (490,494) (245,124) (597,315) 1,639,352 2,455,785 1,122,852 1,062,336 1,965,783 (1,332,933) 3.2 8.1 8.1 8.2 2.1.2 2.1.1 2.1.3 2.1.4 3.1.1 4.1.1 Note — FOR THE FINANCIAL YEAR ENDED 30 JUNE 2019 ENDED 30 JUNE FINANCIAL YEAR — FOR THE
Income from transactions Income from Grants Rental income income Interest Other income transactions from income Total Expenses from transactions Expenses from Employee expenses Depreciation Other operating expenses Total expenses from transactions expenses from Total Net result from transactions (net operating balance) from Net result result Other economic flows included in net Net gain/(loss) on non-financial assets (a) Other gains/(losses) from other economic flows Other gains/(losses) from Other gains/(losses) on disposal of assets result other economic flows included in net Total Net result Other economic flows - other comprehensive income Other economic flows - other comprehensive result to net Items that will not be reclassified surplus Changes in physical asset revaluation Total other economic flows - other comprehensive income other economic flows - other comprehensive Total result Comprehensive
The accompanying notes form part of these financial statements. The accompanying notes form part of these revaluations, impairments, gains/(losses) from Notes: (a) Net gain/(loss) on non-financial assets includes unrealised surplus. the asset revaluation taken through and disposals of all physical assets, except when these are COMPREHENSIVE OPERATING STATEMENT COMPREHENSIVE OPERATING $ - 2018 27,677 37,290 24,193 118,983 317,467 183,950 1,398,997 4,200,000 1,423,190 29,705,563 28,082,967 (1,655,629) 29,705,563 31,128,754 30,944,804 30,944,804 $ 2019 28,013 43,366 83,414 35,764 268,577 317,467 339,556 1,969,291 4,200,000 (593,294) 2,088,469 31,162,073 28,986,414 31,162,073 33,250,541 32,910,585 32,910,585 6.1 5.2 5.2 8.2 5.1 5.3 4.1 8.2 3.1.2 Notes — AS AT 30 JUNE 2019 — AS AT
Employee benefits liabilities Total Assets Financial assets Cash and cash equivalents Total non-financial assets Total Assets Total Liabilities and other payables Trade funds and deposits Trust Net Assets Equity Contributed capital General surplus Accumulated surplus/(deficit) Net worth financial statements. The accompanying notes form part of these Trade and other receivables and other Trade Prepayments Non-financial assets furniture plant and Property, Surplus Physical Asset revaluation
Total financial assets financial Total BALANCE SHEET SHEET BALANCE
Queen Victoria Women’s Centre Annual Report 2018–2019 20 Queen Victoria Women’s Centre Annual Report 2018–2019 21 $ 2018 6,216 344,352 730,039 (42,031) (71,713) (71,713) 126,623 198,336 (474,328) (365,913) 1,272,374 (882,272) 1,398,997 1,080,607 $ 2019 29,304 570,293 772,319 (858,703) 1,639,352 (215,553) (310,725) (485,701) (858,703) 1,398,997 1,969,291 2,440,975 1,428,996 (1,011,979) 6.1 6.1.1 Notes — FOR THE FINANCIAL YEAR ENDED 30 JUNE 2019 ENDED 30 JUNE FINANCIAL YEAR — FOR THE
Receipts in the course of operations Receipts in the course receipts Total Cash flows from operating activities Cash flows from Receipts Government Receipts from Interest received Interest Payments (a) paid to the ATO Goods and Services tax Payments to suppliers Payments to employees payments Total in) operating activities Net cash flow from/(used investing activities Cash flows from plant and furniture Payments for property, in) investing activities Net cash flow from/(used in cash and cash equivalents Net increase/(decrease)
Cash and cash equivalents at the beginning of the financial year Cash and cash equivalents at the beginning financial year Cash and cash equivalents at the end of the financial statements. The accompanying notes form part of these on a net basis. Office is presented Notes: (a) GST paid to the Australian Tax CASH FLOW STATEMENT FLOW CASH - - $ Total 903,447 6,120,270 1,062,336 1,129,032 32,910,585 30,944,804 23,695,503 $ - - - - Surplus (Deficit)/ 1,062,336 1,129,032 (593,293) (1,655,629) (2,784,661) Accumulated Accumulated $ ------Capital 4,200,000 4,200,000 4,200,000 Contributed Contributed $ ------Surplus General 317,467 317,467 317,467 $ - - - - Surplus 903,447 6,120,270 28,986,414 28,082,967 21,962,697 Revaluation Revaluation — FOR THE FINANCIAL YEAR ENDED 30 JUNE 2019 ENDED 30 JUNE FINANCIAL YEAR — FOR THE Physical Asset Physical Asset 8.2 8.2 Notes
Balance at 30 June 2019 financial statements. The accompanying notes form part of these Transfer to accumulated surplus Transfer Transfer to accumulated surplus to accumulated Transfer Balance at 30 June 2018 for the year Net result income for the year Other comprehensive Net result for the year Net result for the income Other comprehensive year
Balance at 1 July 2017 STATEMENT OF CHANGES IN EQUITY EQUITY IN OF CHANGES STATEMENT
Queen Victoria Women’s Centre Annual Report 2018–2019 22 Queen Victoria Women’s Centre Annual Report 2018–2019 23 which does Report of Operations, — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
income and expenses are recognised in the reporting period to which they relate, regardless of when cash is of when regardless period to which they relate, in the reporting recognised are income and expenses
not form part of these financial statements. not form part of these Melbourne VIC 3000 is included in the of its operations and its principal activities A description of the nature
About this report Note 1 NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES These general purpose financial statements have been prepared in accordance with the FMA and applicable Australian in accordance have been prepared These general purpose financial statements (AASB). Board issued by the Australian Accounting Standards (AASs) which include interpretations, Accounting Standards of AASB 1049 Whole of Government and in a manner consistent with the requirements presented In particular they are General Government (AASB 1049). Sector Financial Reporting been applied. Accounting policies entities have to not-for-profit those AASs paragraphs applicable appropriate, Where resulting financial information satisfies the concepts of that the ensure selected and applied in these financial statements events is reported. ensuring that the substance of the underlying transactions or other thereby and reliability, relevance Compliance information equity, or paid. received capital and its of AASB 1004 Contributions, contributions by owners (that is, contributed Consistent with the requirements part of the income and expenses of the Trust. do not form as equity transactions and, therefore, treated are repayment) The to be made about financial information being presented. required Judgements, estimates and assumptions are amounts are disclosed in the notes where of these financial statements significant judgements made in the preparation judgements based on professional and associated assumptions are disclosed. Estimates by those judgements are affected under the circumstances. believed to be reasonable other factors that are historical experience and various derived from these estimates. from may differ Actual results periods in future and also in the period in which the estimate is revised recognised Revisions to accounting estimates are Accounting Judgements and assumptions made by management in applying Australian by the revision. affected that are the are disclosed in the notes under and estimates on the financial statements (AAS) that have significant effects Standards heading: ‘Significant judgement or estimates’. reporting entity and include all Trust as an individual Centre Women’s These financial statements cover the Queen Victoria activities of the Trust. the controlled rounding.. due to in the financial statements may not equate Figures These financial statements are in Australian dollars and the historical cost convention is used unless a different convention is used unless a different Australian dollars and the historical cost in are These financial statements basis. on a different item measured disclosed in the note associated with the basis is specifically measurement assets, liabilities, statements, whereby these financial has been applied in preparing The accrual basis of accounting Basis of preparation Basis of 210 Lonsdale Street Queen Victoria Women’s Centre Act 1994. Centre Queen Victoria under the was established Women’s Trust) (the Trust Centre VictoriaThe Queen Women’s is: Its principal address $ $ - 712 2018 6,216 1,267 6,216 1,979 2018 6,216 1,979 507,883 201,990 344,352 393,796 136,074 709,873 344,352 709,873 344,352 529,870 1,062,420
$ $ 60 2019 2019 29,304 49,404 29,304 49,344 29,304 49,404
737,726 220,739 439,352 433,795 345,117 516,987
737,726 778,912 1,639,352 1,200,000 2,455,785 1,639,352 2.1.4 2.1.2 2.1.3 2.1.1 Notes
— FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
est income
Inter Other income Summary of income that funds the delivery of our services Summary of income that Rental income Grant income
2.1.2 Grant income General purpose income 2.1.3 Interest on bank deposits Interest 2.1.4 Other income Sundry income Rental from room hire room Rental from income rental Total of a on a straight line basis over the lease term. All incentives for the agreement operating leases is recognised Rental income from asset, for the use of the leased of the net consideration agreed as an integral part recognised operating lease are new or renewed given to the lessee, the timing of payments. In the event that lease incentives are or form or the nature of the incentive’s irrespective income over the lease term, on a straight-line basis unless another of rental as a reduction recognised cost of incentives are aggregate asset is diminished. of the time pattern over which the economic benefit of the leased representative systematic basis is more Capital grant grant income Total without receiving to the Trust goods or assets (or extinguishes a liability) transactions in which a party provides Grant income arises from Grants can be received when the grant is received. revenue recognises grants, the Trust For non-reciprocal equal value in return. approximately as they may be received their use. Alternatively, not subject to conditions regarding to grants which are as general purpose grants, which refers their use. regarding paid for a particular purpose and/or have conditions attached specific purpose grants, which are using the income is recognised on bank term deposits and online bank accounts. Interest received income includes interest Interest period. over the relevant method, which allocates the interest interest effective Operating lease commitments receivable report is as follows: in the financial contracted but not yet recognised date, the total revenue At reporting Not longer than one year Later than one year but not longer than five years Total Total interest income interest Total Donations other income Total Rental from leased office space Rental from Income is recognised to the extent it is probable the economic benefits will flow to the Trust and the income can be economic benefits will flow to the the to the extent it is probable Income is recognised Other income transactions income from Total Grant income income Interest reliably measured at fair value. Where applicable, amounts disclosed as income are net of returns and taxes. net of returns disclosed as income are applicable, amounts at fair value. Where measured reliably 2.1 Summary of income that funds the delivery of our services 2.1 Summary of income Rental income 2.1.1 Rental income Other income includes donations, ticket sales and insurance claims, and is recognised as income when received. Other income includes donations, ticket sales and insurance claims, and is recognised Funding Delivery of our services our of Note 2 Funding Delivery 2.1.1 2.1.2 2.1.3 2.1.4 2.1 Introduction its objective and Trust to fulfil the To enable and financial security for women. economic participation is to increase objective The Trust’s state government. from income and some funding income, venue hire tenant outputs, it receives provide Structure NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES
Queen Victoria Women’s Centre Annual Report 2018–2019 24 Queen Victoria Women’s Centre Annual Report 2018–2019 25 $ - - $ - 3 34 31 2018 2018 4,474 9,918 7,841 41,072 28,646 37,290 37,256 22,864 435,714 437,083 358,155 872,797 435,714 $ - - - $ 2019
9,674 2019 1,574 1,510 4,259 36,149 49,974 43,366 17,317 26,049 15,743 20,281 490,494 597,315 394,697 490,494 1,087,809
3.2 3.1.1 Notes
— FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
ed in delivery of services The cost of delivering services delivering of The cost Expenses incurr Other operating expenses
Total provisions for employee benefits provisions Total Total non-current employee provisions non-current Total Non-current provisions Non-current Employee benefits - long service leave Provisions for on-cost - long service leave Provisions Total current provisions for employee benefits provisions current Total Employee benefits-long service leave Unconditional and expected to be settled within 12 months for on-cost Provisions Unconditional and expected to be settled within 12 months Unconditional and expected to be settled after 12 months Unconditional and expected to be settled after 12 months Current provisions Current Employee benefits-annual leave Unconditional and expected to be settled within 12 months Unconditional and expected to be settled after 12 months 3.1.2 Employee benefits in the balance sheet 3.1.2 Employee benefits in the balance respect of wages and salaries, annual leave and long service leave (LSL) for in is made for benefits accruing to employees Provision delivered. as an expense during the period the services are date and recorded to the reporting services rendered Employee expenses include all costs related to employment including wages and salaries, fringe benefits tax, leave entitlements, and Workcover including wages and salaries, fringe benefits tax, leave entitlements, and to employment Employee expenses include all costs related premiums. to superannuation is employer contributions for members of defined statement in relation operating in the comprehensive The amount recognised period. payable during the reporting paid or contribution superannuation plans that are 3.1 Expenses incurred in delivery of services in 3.1 Expenses incurred Employee benefit expenses Other operating expenses in delivery of services expenses incurred Total Superannuation and workcover expenses Contractors and outplacement fees training and recruitment Staff employee expenses Total 3.1.1 Employee benefits in the comprehensive operating statement 3.1.1 Employee benefits in the comprehensive service leave Salaries and wages, annual leave and long Note: (i)Employee benefits consist of annual leave and long service leave accrued by employees. Note: (i)Employee benefits consist of annual leave and long service leave accrued by not employee benefits. tax and workers compensation insurance are On-costs such as payroll
Note 3 NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES 3.1 3.2 Introduction in delivering the services and outputs. by the Trust of the expenses incurred an account This section provides in this note the cost associated disclosed and of services were that enable the provision In section 2, the funds recorded. of services are with provision Structure
— FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
Liabilities for wages and salaries (including non-monetary benefits, annual leave and benefits, annual leave non-monetary wages and salaries (including leave: Liabilities for Salaries and annual and Wages not have anTrust does the liabilities, because as current benefit provision as part of the employee recognised on-costs) are of these liabilities. right to defer settlements unconditional at the reporting current rates which are remuneration in the balance sheet at recognised and wages are The liability for salaries at measured date, they are 12 months of reporting the liabilities to be wholly settled within expects date. As the Trust undiscounted amounts. paid, as the the undiscounted amount expected to be at liability and measured is classified as a current The annual leave liability the end of the reporting of the liability for at least 12 months after have an unconditional right to defer settlement does not Trust period. that the average probable it is not considered sick leave as all sick leave is non-vesting and has been made for No provision As sick leave is non-vesting, an expense is than the benefits accrued in the future. be greater will future sick leave taken in the Income as it is taken. of Comprehensive in the Statement recognised as disclosedseparately benefits. They are not employee tax and workers compensation are such as payroll Employment on-costs relate has occurred. which they employee benefits when the employment to for a component of the provision does not expect to settle the liability within 12 months the Trust even where liability, Unconditional LSL is disclosed as a current to defer the settlement of the entitlement should the employee take leave withinbecause it will not have the unconditional right 12 months. at: measured LSL liability are The components of this current expects to wholly settle within 12 months; or • undiscounted value - if the Trust wholly settle within 12 months. does not expect to - if the Trust value • present right to defer the settlement of the entitlement until is a conditional There liability. Conditional LSL is disclosed as a non-current value. at present LSL is measured years of service. This non-current the employee has completed the requisite except to as a transaction, LSL liability is recognised value of non-current of the present Any gain or loss following revaluation as an ‘other economic rates for which it is then recognised in bond interest the extent that a gain or loss arises due to changes result. flow’ in the net NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES
Queen Victoria Women’s Centre Annual Report 2018–2019 26 Queen Victoria Women’s Centre Annual Report 2018–2019 27 $ ------1 90 89 2018 0 $ ------2019 at year end Contribution outstanding $ $ - - 2018 2018 1,314 1,036 1,720 7,040 38,248 15,508 11,631 25,775 37,826 437,083 126,202 247,280 $ $ 143 132 2019 2019 9,044 6,133 7,932 2,674 7,606 33,663 24,350 597,315 147,656 314,760 110,548 for the year Paid contribution — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
Defined contribution plans Defined contribution Hesta Media Super Podbury Family Superannuation Fund MLC Masterkey Super and Pension Australian Super Super Mercer Hostplus Recruitment Super Total 3.2 Other operating expenses Office costs Building and maintenance sitting fees Trust services Professional other operating expenses Total
in normal operations and the cost of maintaining our major the day-to-day running costs incurred Other operating expenses generally represent as recognised Other operating expenses are mutually agreed. transactions that are expense from asset, the building. It also includes bad debts incurred. are expenses in the operating period in which they to trust sitting fees is the amounts paid or payable to trust in relation operating statement in the comprehensive The amount recognised members for their attendance at meetings. NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES 3.1.3 Superannuation contributions 3.1.3 Superannuation plan. defined contribution to employees Trust contributes the benefits and superannuation to receive entitled are of the Trust Employees $ 500 2018 221,113 329,414 395,094 13,340,000 15,419,443 29,705,564 $ - 2019 324,524 342,985 841,563 17,363,000 12,290,000 31,162,073 Net carrying amount Net carrying $ - - - 2018 (34,163) (48,000) (330,272) (412,435) $ - - - - 2019 (52,890) (338,726) (391,617) Accumulated Depreciation $ 500 — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE 2018
255,276 377,414 725,366 13,340,000 15,419,443 30,117,999 $ - 2019 377,414 681,712 841,563 17,363,000 12,290,000 31,553,689 Gross carrying amount Gross
Buildings at fair value at Building improvements fair value Land at fair value Shilling wall monument at fair value at Plant and furniture fair value Capital works in progress Net carrying amount Key Assets available to support output delivery to support output available Assets Note 4 Key
Introduction its activities. They utilised in fulfilling its objectives and conducting that are plant and furniture land, buildings, property, controls The Trust delivery of those outputs.. to be utilised for to the Trust that have been entrusted the resources represent Fair value measurement connection with how information is disclosed in Note 7.3 in carried at fair value, additional in this section are the assets included Where determined. those fair values were Structure and furniture plant property, 4.1 Total and Furniture Plant Property, 4.1 Total NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES Initial recognition: Items Initial recognition: Items of property, plant and furniture, are measured initially at cost and subsequently revalued at fair value revalued initially at cost and subsequently measured are plant and furniture, Items of property, Items Initial recognition: Initial recognition: fair value at the date of acquisition. for no or minimal cost, the cost is its an asset is acquired and impairment. Where less accumulated depreciation at fair value less subsequently measured are plant and furniture, Property, Subsequent measurement: Property, Subsequent measurement: use (considering legal or physical highest and best to the asset’s and impairment. Fair value is determined with regard accumulated depreciation use of the asset) and is summarised on the to the intended or commitments made in relation imposed on the asset, public announcements restrictions following page by asset category.. is used for specialised land, although Specialised land and specialised buildings: The market approach Specialised land and specialised buildings: The of the land being valued. the specialised nature (CSO) to reflect is adjusted for the community service obligation restrictions associated with an asset to the extent that is also equally assessment of the impact of of the valuer’s The CSO adjustment is a reflection applicable to market participants. cost method is used for the majority of specialised buildings, adjusting for the associated depreciation. replacement the current For the Trust, sold other than as part of a going specialised in use (such that it is rarely are and plant and furniture Shilling wall monument, building improvements cost method. replacement determined using the current concern) are plant and furniture. Refer to Note 7.3 for additional information on fair value determination of property,
Queen Victoria Women’s Centre Annual Report 2018–2019 28 Queen Victoria Women’s Centre Annual Report 2018–2019 29 - - - $ 74,542 2018 (238,616) 7,298,293 22,571,346 29,705,565
Total - - $ 2019 858,703 (60,517) 903,447 (245,124) 29,705,565 31,162,073
- - - 500 $ 53,919 78,855 2018 (132,273) - - - - 500 $ Capital works 2019 841,564 841,063 - - - $ 2018 20,009 311,170 395,094
(67,681) 131,597 - - - fair value $ Property, Plant Property, 2019 12,819 (4,858) and Furniture at and Furniture 395,094 342,986 (60,070)
- - - - - $ $ (4,890) 2018 2018 4,891 329,414 334,305 25,445 67,681 140,600 238,616 - - - - - value Shilling wall $ 2019 (4,890) monument at fair 324,524 329,414 - 676 614 $ $ 2018 627,218 221,114 (381,950) (25,444) 0 - - 2019 4,890 — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE 25,969 60,070
Building fair value 154,195 $ 245,124 4,820 2019 (25,969) (55,659) improvements at improvements 221,114 (144,305) 100 10 40-100 3-20 Useful life (years) - - $ 381,950 2018 (140,600) 1,539,893 15,419,443 13,638,200 - - $ 2019 144,305 (154,195) Buildings at fair value 1,953,447 15,419,443 17,363,000
0 - - - - - $ 2018 7,581,60 5,758,400 13,340,000
- - - - - $ 2019 Land at fair value 13,340,000 12,290,000 (1,050,000)
Buildings Building improvements Shilling wall monument Plant and furniture Asset Buildings for the period Charge Building improvements Building improvements Shilling wall monument Plant and furniture and impairment depreciation Total Reclassification Transfers in/(out ) Transfers of capital works Additions Disposals Depreciation Closing Balance Revaluation Increments/ (Decrements) Opening Balance
The estimated useful lives, residual values and deprecation method are reviewed at the end of each annual reporting period, and reporting at the end of each annual reviewed method are deprecation values and The estimated useful lives, residual appropriate.. adjustments made where of this respect recognised in is not Depreciation to have an indefinite life, is not depreciated. Infinite life assets: Land, which is considered period. in any material sense, been consumed during the reporting asset because the service potential has not, is an indication tested for impairment whenever there are plant and furniture, Impairment: Non-financial assets, including items of property, that the asset may be impaired. carrying value an asset’s Where amount. tested as to whether their carrying value exceeds their recoverable The assets concerned are that it can be debited to an as an other economic flow’, except to the extent off is written amount, the difference exceeds its recoverable surplus amount applicable to that class of asset. asset revaluation amount. to its recoverable the carrying amount shall be increased in impairment, has been a reversal indication that there is an If there or been determined, net of depreciation carrying amount above what what would have the asset’s should not increase However this reversal in prior years. recognised amortisation, if no impairments loss has been cost and fair value less costs to sell. replacement at the higher of depreciated amount for most assets is measured The recoverable cash flows value of future at the higher of the present to generate cash inflows is measured Recoverable amount for assets held primarily value less costs to sell. the asset and fair expected to be obtained from entities, assets of not-for-profit amount of primarily non-cash-generating plant and equipment: The recoverable Impairment of property, is expected to be and held for continuing use of their service capacity, Wall, such as the Shilling typically specialised in nature, which are with the consequence that AASB 136 does not apply Measurement, materially the same as fair value determined under AASB 13 Fair Value revalued. regularly to such assets that are 4.1.2 Carrying value by purpose group and community.. classified by the one purpose, health, welfare assets are plant and furniture has determined that all property, The Trust Plant and Furniture 4.1.3 Reconciliation of movement in carrying amounts of Property, NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES 4.1.1 Depreciation and Impairment 4.1.1 Depreciation All buildings, plant and furniture and other non-financial physical assets that have finite useful lives, are depreciated. are depreciated. that have finite useful lives, and other non-financial physical assets furniture All buildings, plant and value, over its residual value, less any estimated that allocate the asset’s calculated on a straight line basis, at rates is generally Depreciation in the table below: included and prior years are classes for current asset estimated useful lives for the different estimated useful life. Typical $ 0 0 - -
1-5 years $ 0 0 - - year 3 months - 1 $ 0 -
1,582 1,582 1-3 months $ 1,313 4,558 1,313 4,558 month Less than 1 $ $ Past due but not impaired — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE 18,574 18,045 18,574 18,045 2018
1,590 24,193 22,603 impaired Not past 22,603 due and not $ $ 2019 21,468 22,603 21,468 22,603 amount 83,414 61,945 21,468 21,468 Carrying
Total current receivables current Total Statutory GST Receivables 5.1 Receivables Contractual debtors Trade Ageing analysis of contractual receivables 2019 and other receivables Trade Total 2018 and other receivables Trade Total There is no provision for doubtful debts as at 30 June 2019 (2018: $nil). for doubtful debts as at 30 June is no provision There risk for a if the credit Under the general approach required. losses on a financial asset is credit Recognition of a loss allowance for expected credit losses. to the lifetime expected at an amount equal significantly than the loss allowance is measured financial asset has increased If the credit risk has not increased significantly then the loss allowance is measured at an amount equal to 12-month expected credit losses. to 12-month expected credit at an amount equal significantly then the loss allowance is measured risk has not increased If the credit of their loss allowance is at an amount equal receivables, the measurement applied to trade which has been Under the simplified approach losses. to lifetime expected credit period. reporting in the 2018-2019 No losses have been recognised but included in not written off, classified as a transaction expense. Bad debts by mutual consent are as written off Bad debts considered are classified as other provision for doubtful debts, result. classified as other economic flows in the net for doubtful debts, are the provision result. economic flows in the net Other Assets and Liabilities and Assets Note 5 Other
Introduction operations. controlled the Trust’s from assets and liabilities that arose This section sets out those Structure 5.1 Receivables 5.2 Payables assets 5.3 Other non-financial NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES Trade debtors are carried at nominal amounts due and are due for settlement within 30 days from the date of recognition. Collectability of the date of recognition. due for settlement within 30 days from carried at nominal amounts due and are debtors are Trade written off. known to be uncollectable are on an ongoing basis, and debts which are debts is reviewed
Queen Victoria Women’s Centre Annual Report 2018–2019 30 Queen Victoria Women’s Centre Annual Report 2018–2019 31 $ 0 - - - - - 18,152 18,152 1-5 years $ - - - - year 9,861 9,861 27,677 27,677 3 months-1
$ ------$ $ ------2018 2018 Maturity dates 8,005 17,308 27,677 93,670 146,660 146,660 1-3 months $ - - $ $ - - - 1,423 month 93,670 17,308 2019 2019 6,813 1,423 261,764 110,978 260,342 28,013 28,013 35,764 35,764 35,764 268,577 260,342 296,590 Less than 1 — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE $
1,423 28,013 93,670 27,677 17,308 amount 289,777 138,655 260,342 Nominal $ 1,423 28,013 93,670 27,677 17,308 amount 289,777 138,655 260,342 Carrying
, that are recognised and measured similarly to contractual payables but are not classified as financial instruments and but are similarly to contractual payables and measured recognised statutory payables, that are contracts. at amortised cost, because they do not arise from not included in the category of financial liabilities , classified as financial instruments and measured at amortised cost. Accounts payable represent liabilities for goods represent at amortised cost. Accounts payable contractual payables, classified as financial instruments and measured and unpaid: prior to the end of the financial year that are to the Trust and services provided
Non-current payables Non-current Total payables Total by: Represented payables Current Statutory payable Taxes Unearned income Total Other Assets Total Total Non-current other assets Non-current Total Other Non-current other assets Non-current Trust funds and deposits funds and Trust other assets Current Total 5.2 Other non-financial assets other assets Current Prepayments 5.2 Payables Contractual Accrued expenses Note: (a) Maturity analysis is presented using the contractual undiscounted cash flows. Note: (a) Maturity analysis is presented Maturity analysis of contractual payables 2019 Payables Accrued expenses Trust funds and deposits Trust Unearned income Total 2018 Payables Accrued expenses Trust funds and deposits Trust Unearned income Total Payables consist of :
Payables for supplies and services are unsecured and are usually paid within 30 days of recognition. and are unsecured Payables for supplies and services are NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES • • $ $ $ - - 500 Total 1,210 2018 2018 29,777 16,977 24,089 38,278 238,616 (39,251) 264,976 264,976 240,887 198,336 1,360,218 (1,178,023) 1,129,032 1,398,997 $ $ - $ - - - - 231 2019 2019 6,076 60,517 245,124 165,477 (15,549) (35,764) (59,221) 198,264 1,770,796 +5 years 1,062,336 1,428,996 1,969,291 $ - - - - 1-5 years $ 24,089 264,976 264,976 240,887 Less than 1 year — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
Nominal amounts Net result for the period Net result Non cash movements Depreciation plant and furniture disposal of property, Net (gain)/loss from Reversal of building valuation decrement in accruals Increase/(decrease) in trust funds and deposits and unearned income Increase/(decrease) in employee benefits provision Increase/(decrease) (used in) operating activities Net cash flow from/ *Included in the cash balance is $487,031 (2018:$128,094) of the capital grant still to be spent. *Included in the cash balance is $487,031 (2018:$128,094) operating actvities flow from to net cash 6.1.1 Reconciliation of net result (Increase)/decrease in prepayments (Increase)/decrease Movements in operating assets and liabilities in receivables (Increase)/decrease Deposits at call* Cash at bank Petty cash Balance as per cash flow statement 2019 commitments payable Capital expenditure Total commitments (inclusive of GST) Total Less GST recoverable Total commitments (exclusive of GST) Total How we financed our operations our financed we Note 6 How 6.1 Cash flow information and balances those highly liquid investments hand and cash at bank, deposits at call and cash equivalents, comprise cash on Cash and deposits, including rather than for purpose of meeting short-term cash commitments held for the months or less, which are of three with an original maturity subject to an insignificant risk of changes in value. to known amounts of cash and are convertible readily investment purposes, and which are suppliers and creditors. by the Trust’s net of outstanding cheques yet to be presented are Figures Introduction related to other information Trust during its operations and the of finance utilised by on the sources information This section provides Trust. the financing activities of provide and cash balances). Note 6.1 (such as borrowings financial instruments of balances that are This section includes disclosures instrument disclosures. additional, specific financial Structure and balances 6.1 Cash flow information expenditure 6.2 Commitments for NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES 6.2.1 Total commitments payable 6.2.1 Total 6.2 Commitments for expenditure recorded commitments are contracts. These include operating and capital commitments arising from expenditure Commitments for future cease to be disclosed as commitments once the related expenditures These future below at their nominal value and inclusive of GST. in the balance sheet. recognised liabilities are There were no capital commitments payable at 30 June 2018. were There
Queen Victoria Women’s Centre Annual Report 2018–2019 32 Queen Victoria Women’s Centre Annual Report 2018–2019 33 — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
payables (excluding statutory payables). receivables (excluding statutory receivables). receivables cash and deposits; receivables (excluding statutory receivables); and (excluding statutory receivables); receivables term deposits. cash and deposits; the assets are held by the Trust to collect the contractual cash flows, and held by the Trust the assets are solely payments of principal and interest. flows that are the assets’ contractual terms give rise to cash
Risks, Contingencies and Valuation Judgements Valuation and Contingencies Note 7 Risks, Categories of financial liabilities under AASB 9 and previously under AASB 139 Categories of financial liabilities under AASB 9 and previously at fair value plus any initially measured originated. They are on the date they are initially recognised Financial liabilities at amortised cost are at amortised cost with measured are these financial instruments attributable transaction costs. Subsequent to initial recognition, directly and loss over the period of the in profit value being recognised amount and the redemption between the initial recognised any difference the following liabilities in this category: recognises rate method. The Trust interest using the effective bearing liability, interest Categories of financial assets previously under AASB 139 under Categories of financial assets previously are not quoted on an active determinable payments that financial instrument assets with fixed and and cash are Loans and receivables costs. Subsequent to attributable transaction at fair value plus any directly initially recognised market.These assets and liabilities are for assets, less any method (and interest at amortised cost using the effective measured are loans and receivables initial measurement, impairment). the following assets in this category: recognises The Trust
These assets are initially recognised at fair value plus any directly attributable transaction costs and subsequently measured at amortised measured attributable transaction costs and subsequently any directly at fair value plus initially recognised These assets are method less any impairment. interest cost using the effective the following assets in this category: recognises The Trust NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES • • • • • • • • 7.1 Financial Instruments specific disclosures 7.1 Financial Instruments Introduction entity and a financial liability or equity that give rise to a financial asset of one agreements Financial instruments arise out of contractual on the business model applies AASB 9 and classifies all of its financial assets based 1 July 2018, the Trust From instrument of another entity. terms. contractual for managing the assets and the asset’s AASB 9 Categories of financial instruments under Financial assets at amortised cost not designated as fair value met and the assets are both the following criteria are at amortised costs if measured Financial assets are net result: through Introduction and estimates addition, it is often necessary to make judgements its activities and outside factors. In to risk from is exposed The Trust instrument specific statements. This section sets out financial of items in the financial and measurement associated with recognition a higher level of require or contingent in nature, items that are to financial risks) as well as those exposures information (including to fair value determination. mainly related which for the Trust judgement to be applied, Structure specific disclosures 7.1 Financial instruments and contingent liabilities 7.2 Contingent assets 7.3 Fair value determination $ $ - - - Total 2018 6,216 1,423 6,216 22,603 28,013 21,468 93,670 27,677 17,308 260,342 969,291 289,777 990,759 138,655 1,398,997 1,421,600 - $ ------$ 2019 1,423 28,013 93,670 27,677 17,308 29,304 29,304 260,342 289,777 138,655 liabilities at amortised cost Contractual financial Contractual $ ------22,603 35,764 21,468 969,291 1,000,000 1,398,997 1,421,600 2,026,523 assets-loans and Contractual financial Contractual receivables and cash receivables — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
Total contractual financial assets Total Contractual financial liabilities Payables (a) Accruals Investments and other contractual financial assets Investments and other contractual financial deposits Term Receivables (a) and other receivables Trade Total contractual financial liabilities Total Total contractual financial assets Total Unearned income Contractual financial liabilities Payables (a) Accruals funds and deposits Trust Prepayments assets Investments and other contractual financial deposits Term Receivables (a) receivables and other Trade Trust funds and deposits Trust Note: (a) the total amounts disclosed here exclude statutory amounts (eg. GST input tax credit recoverable and taxes payable) recoverable exclude statutory amounts (eg. GST input tax credit Note: (a) the total amounts disclosed here 2018 Contractual financial assets Cash and cash equivalents Note: (a) the total amounts disclosed here exclude statutory amounts (eg. GST input tax credit recoverable and taxes payable) recoverable (eg. GST input tax credit exclude statutory amounts Note: (a) the total amounts disclosed here Contractual financial assets revenue and loss - interest Financial assets designated at fair value though profit contractual financial assets Total 2019 assets Contractual financial Cash and deposits Unearned income Total contractual financial liabilities contractual financial liabilities Total Note: Amounts disclosed in this table exclude holding gains and losses related to statutory financial assets and liabilities Note: Amounts disclosed in this table exclude holding gains and losses related the net gain or loss is determined for cash and cash equivalents and receivables, The net holding gains or losses disclosed above are in the net result. income and minus any impairment recognised calculated by taking the movement in the fair value of the asset, the interest gains (losses) on contractual financial assets and liabilities during the year. does not have other net holding The Trust 7.1.2 Financial Instruments - Net holding gain (loss) on financial instruments by category
7.1.1 Financial Instruments: Categorisation 7.1.1 Financial NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES
Queen Victoria Women’s Centre Annual Report 2018–2019 34 Queen Victoria Women’s Centre Annual Report 2018–2019 35 Statutory receivables and debt investments at amortised cost and debt investments Statutory receivables statutory arising from receivables non-contractual The Trust’s they are not financial instruments. However, are requirements with AASB 9 in accordance and measured nevertheless recognised instruments. financial are as if those receivables requirements and investments in debt instruments Both the statutory receivables risk, taking into account the to have low credit considered are risk of default and capacity to meet rating, credit counterparty’s obligations in the near term. contractual cash flow for these financial recognised the loss allowance As the result, was limited to 12 months expected assets during the period at 30 June 2018 under AASB recognised losses. No loss allowance upon transition into allowance required 139. No additional loss AASB 9 on 1 July 2018. Financial Instruments: Liquidity risk financial being unable to meet Liquidity risk arises from operates under the obligations as they fall due. The Trust financial obligations Government fair payments policy of settling making payments within 30 days and in the event of a dispute, the date of resolution. within 30 days from the financial is exposed to liquidity risk mainly through The Trust sheet. The Trust liabilities as disclosed in the face of the balance adequate level of manages its liquidity risk by maintaining an notice to meet its uncommitted funds that can be drawn at short short-term obligations. to liquidity risk is deemed insignificant based exposure The Trust’s of risk. Cash for assessment on prior periods’ data and current balance. the cash from unexpected events is generally sourced Financial Instruments: Market risk interest primarily through to market risk are exposures The Trust’s to have, exposure rate risk, and it does not have, or intend to risk or other price risk. currency foreign to market risk is deemed insignificant based exposure The Trust’s of risk. assessment on prior periods’ data and a current rate risk Interest value of a rate risk is the risk that the fair Fair value interest financial instrument will fluctuate because of changes in market bearing does not hold any interest rates. The Trust interest at fair value, and therefore measured financial instruments that are rate risk. to fair value interest has no exposure cash flows of rate risk is the risk that the future Cash flow interest a financial instrument will fluctuate because of changes in market to cash flow interest has minimal exposure rates. The Trust interest at cash and deposits and term deposits that are rate risks through floating rate. bank , as financial assets can has concluded that cash at The Trust Trust to be left at floating rate without necessarily exposing the significant bad risk. rate is 1.74% (2018 : 0.64%) The weighted average interest — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
including the criteria for recognition, the basis of recognition, including the criteria for
performance.
financial obligations as and when they fall due. The Trust’s Trust’s due. The financial obligations as and when they fall
financial statements.
2018-19. July 2018
regular basis. regular
NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES Impairment of financial assets under AASB 9 – applicable from Impairment of financial assets under AASB 9 – applicable from 1 the allowance for has been recording 1 July 2018, the Trust From replacing financial instruments, loss for the relevant expected credit Expected Credit 9’s with AASB loss approach incurred AASB 139’s Subject to AASB 9 impairment assessment include Loss approach. and its receivables statutory contractual receivables, the Trust’s investment in debt instruments. not subject to impairment under AASB 9. Equity instruments are or designated at fair Other financial assets mandatorily measured not subject to impairment assessment are net result value through also subject to under AASB 9. While cash and cash equivalents are of AASB 9, the identified impairment the impairment requirements loss was immaterial. in a does not engage in hedging for its contractual In addition, the Trust financial assets that financial assets and mainly obtains contractual mainly which are except for cash and deposits, on fixed interest, are policy is to the Trust’s cash at bank. As with the policy for debtors, ratings. only deal with banks with high credit recognised assets is of impairment for contractual financial Provision will not be able to is objective evidence that the Trust when there financial difficulties Objective evidence includes collect a receivable. than 90 days more default payments, debts that are of the debtor, ratings. and changes in debtor credit overdue, carrying amount against the written off Contract financial assets are Bad debt expectation of recovery. is no reasonable when there by mutual consent is classified as a transaction expense. written off as following a unilateral decision is recognised Bad debt written off result. other economic flows in the net Except as otherwise detailed in the following table, the carrying in the financial recorded amount of contractual financial assets Trust’s the statements, net of any allowances for losses, represents risk without taking account of the value to credit maximum exposure of any collateral obtained. risk profile credit has been no material change to the Trust’s There on its the potential default of a counter risk arises from credit to exposure in financial loss to party on their contractual obligations resulting on is monitored at fair value and risk is measured Credit the Trust. The main purpose in holding financial instruments is to prudentially financial instruments is to prudentially The main purpose in holding policy financial risks within the government manage the Trust’s risk, main financial risks include credit parameters. The Trust’s financial manages these rate risk. The Trust liquidity risk, and interest financial risk management policy. with its risks in accordance the and manage methods to measure uses different The Trust for the risks to which it is exposed. Primary responsibility different rests with the risks identification and management of financial Trust. Accountable Officer of the risk Financial instruments: Credit will default to the possibility that a borrower risk refers Credit measurement, and the basis on which income and expenses are which income and expenses are and the basis on measurement, of financial asset, financial to each class with respect recognised, disclosed in Note 7.3 to above are liability and equity instrument the financial accounting policies and methods Details of the significant adopted, 7.1.3 Financial risk management objectives and policies risk management 7.1.3 Financial program financial risk management the Trust’s As a whole, risks and the associated volatility of its seeks to manage these
e
quantifiable, ar quantifiable,
— FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligations; or required embodying economic benefits will be resources that an outflow of it is not probable reliability. with sufficient the amount of the obligations cannot be measured
financial assets and liabilities through operating result; and operating financial assets and liabilities through land, buildings and plant and furniture. – occurrence of one or more uncertain future events not wholly within the control of the entity; or of the entity; events not wholly within the control future uncertain of one or more occurrence because: not recognised past events but are obligations that arise from present – possible obligations that arise from past events, whose existence will be confirmed only by the occurrence or non- only by the occurrence past events, whose existence will be confirmed arise from possible obligations that
The Trust determines the policies and procedures for determining fair values for both financial and non-financial assets and determines the policies and procedures The Trust liabilities as required. • • 7.3 Fair value determination of assets and liabilities Significant judgement:Fair value measurement most significant judgement and the use of assumptions. This section discloses the Fair value determination requires and Changes to assumptions could have a material impact on the results assumptions used in determining fair values. Trust. financial position of the reporting purposes. determined fair value for financial Trust This section sets out information on how the transaction between to sell an asset or paid to transfer a liability in an orderly Fair value is the price that would be received date. market participants at the measurement fair value: carried at The following assets and liabilities are Contingent liabilities are also classified as either quantifiable or non-quantifiable. also classified as either Contingent liabilities are date. at the reporting no contingent assets or contingent liabilities were There • Contingent liabilities are: Contingent liabilities • Contingent assets are possible assets that arise from past events, whose existence will be confirmed only by the occurrence or will be confirmed only by the occurrence past events, whose existence assets that arise from possible Contingent assets are of the entity. control events not wholly within the uncertain future more of one or non-occurrence is known, or non-quantifiable. the potential economic benefit where classified as either quantifiable, These are measured at nominal value. measured respectively. or payable inclusive of GST receivable presented liabilities are Contingent assets and Contingent assets 7.2 Contingent assets and contingent liabilities assets and contingent 7.2 Contingent if disclosed and, but are in the balance sheet not recognised liabilities are assets and contingent Contingent NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES
Queen Victoria Women’s Centre Annual Report 2018–2019 36 Queen Victoria Women’s Centre Annual Report 2018–2019 37
efer Note 7.3.1) and non-
instruments (r
— FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
Payables: Financial liablities • For supplies and services • Other payables
General Victoria (VGV) is the Trust’s independent valuation agency for the Trust, in conjunction with VGV [and other external in conjunction with VGV [and other external valuation agency for the Trust, independent General Victoria (VGV) is the Trust’s ‑
Level 2 - the fair value is determined using inputs other than quoted prices that are observable for the financial asset or liability, either either observable for the financial asset or liability, inputs other than quoted prices that are Level 2 - the fair value is determined using and or indirectly; directly with generally accepted accounting pricing models based on discounted cash flow Level 3 - the fair value is determined in accordance analysis using unobservable market inputs. Level 1 - the fair value of financial instrument with standard terms and conditions and traded in active liquid markets are determined with determined with terms and conditions and traded in active liquid markets are with standard Level 1 - the fair value of financial instrument market prices; to quoted reference in respect of those assets and liabilities subject to fair value determination using Level 3 inputs: of those assets and liabilities subject in respect the beginning of the year to the end; and of the movements in fair values from - a reconciliation used in the fair value determination. - details of significant unobservable inputs carrying amount and the fair value (which would be the same for those assets measured at fair value); be the same for those assets measured carrying amount and the fair value (which would to determine the fair value; and was used which level of the fair value hierarchy Level 2 - valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly or indirectly is directly is significant to the fair value measurement for which the lowest level input that Level 2 - valuation techniques observable; and is unobservable. is significant to the fair value measurement for which the lowest level input that Level 3 - valuation techniques Level 1 - quoted (unadjusted) market prices in active markets for identical assets and liabilities; market prices in active markets for Level 1 - quoted (unadjusted)
NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES The fair value of the financial instruments approximates their carrying amounts as shown on the Balance Sheet. The fair value of the financial instruments approximates • Other receivables Investments and other contractual financial assets: deposits • Term Cash and deposits Receivables: • Sale of goods and services end of the 2019-20 reporting period. end of the 2019-20 reporting These financial instruments include: Financial assets The Trust currently holds a range of financial instruments that are recorded in the financial statements where the carrying amounts are a the carrying amounts in the financial statements where recorded holds a range of financial instruments that are currently The Trust they will be paid in full by the or with the expectation that to their short-term nature of fair value, either due approximation reasonable • • 7.3.1 Fair value determination assets and liabilities of financial determined as follows: assets and liabilities are The fair values and net fair values of financial • This section is divided between disclosures in connection with fair value determination for financial in connection This section is divided between disclosures to Note 7.3.2) financial physical assets (refer • For those assets and liabilities for which fair values are determined, the following disclosures are provided: are determined, the following disclosures values are For those assets and liabilities for which fair • • valuers, if applicable], monitors changes in the fair value of each asset and liability through relevant data sources to determine whether to determine data sources relevant asset and liability through monitors changes in the fair value of each valuers, if applicable], is required. revaluation How this section is structured The Trust determines whether transfers have occurred between levels in the hierarchy by reassessing categorisation (based on the lowest categorisation (based by reassessing levels in the hierarchy between whether transfers have occurred determines The Trust reporting period. end of each as a whole) at the to the fair value measurement level input that is significant The Valuer • • are categorised into three levels, also known as fair value hierarchy. levels, categorised into three are as follows: The levels are • Fair value hierarchy Fair value these inputs in the financial statements, and comparability consistency increase used. To of inputs are fair values a number In determining — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
building.
Heritage. period.
Plant and Furniture sold other plant and equipment is specialised in use, such that it is rarely Plant and equipment is held at fair value. When cost method. replacement determined using the current than as part of a going concern, fair value is the period to 30 June 2019. no changes in valuation techniques throughout were There the highest and best use. use is considered at fair value, the current For all assets measured Building Improvements sold that it is rarely is specialised in use, such building improvements is held at fair value. When Building improvements is market there cost is used to estimate fair value. Unless replacement other than as part of a going concern, the current unlikely the original acquisition cost, it is considered from significantly different costs are replacement evidence that current carrying value. the existing from cost will be materially different replacement that current specialised Shilling wall monument sold When Shilling wall monument is specialised in use, such that it is rarely Shilling wall monument is held at fair value. is Unless there cost is used to estimate the fair value. replacement other than as part of a going concern, the current the original acquisition cost, it is considered from significantly different costs are replacement market evidence that current the existing carrying value. from different cost will be materially replacement unlikely that current and date of the valuation is 30 June 2019. The effective the in the value of the specialised land and an increase in the value of in a decrease The valuation resulted the specialised buildings Specialised land and although it is adjusted for the community for specialised land and specialised buildings, is used The market approach being valued. of the assets the specialised nature to reflect service obligation (CSO) restrictions associated with an asset to impact of assessment of the of the valuer’s is a reflection The CSO adjustment is in light of the highest and best use This approach equally applicable to market participants. the extent that is also asset that is physically possible, and takes into account the use of the measurement, for fair value consideration required as significant unobservable inputs, considered are financially feasible. As adjustments of CSO legally permissible, and be classified as Level 3 assets. specialised land would adjusting for the associated depreciation. cost method is used, replacement building, the current specialised For the Trust specialised buildings are nature, as significant, unobservable inputs in considered adjustments are As depreciation classified as Level 3 for fair value measurements. was performed by Matheson Stephen specialised land and specialised building An independent valuation of the Trust adjusted for CSO Victoria. was performed using the market approach The valuation on behalf of the Valuer-General 7.3.2 Fair value determination:7.3.2 Fair assets Non-financial physical levels during no transfers between have been 2019. There as Level 3 for 2018 and classified assets are All non-physical NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES
Queen Victoria Women’s Centre Annual Report 2018–2019 38 Queen Victoria Women’s Centre Annual Report 2018–2019 39 $ ------20,009 (4,858) 12,819 Plant & (67,681) 131,597 (60,070) 311,171 342,987 342,987 furniture 395,096 395,096 395,096 $ ------(4,891) (4,890) 334,305 324,524 324,524 329,414 329,414 329,414 monument Shilling Wall Shilling Wall $ ------0 0 676 614 4,820 (25,444) (55,659) (25,969) Building 627,218 221,114 221,114 221,114 (144,305) (381,950) Improvements $ ------144,305 381,950 Buildings (140,600) (154,195) 1,953,447 1,539,893 1,953,447 1,539,893 Specialised Specialised 13,638,200 17,363,000 15,409,553 15,419,443 15,419,443 13,879,550 $ ------— FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE 5,758,400
7,581,600 5,758,400 7,581,600 (1,050,000) 12,290,000 (1,050,000) 13,340,000 13,340,000 13,340,000 Specialised Land Specialised
- Impairment loss - Disposals - Depreciation Gains or losses recognised in net result Gains or losses recognised Transfers in (out) of capital works Transfers Transfers in (out) of Level 3 Transfers Purchases (sales) Purchases Unrealised gains/(losses) on non-financial assets Unrealised 2018 Opening balance Closing balance Items recognised in other economic flows- Items recognised income other comprehensive - Physical Asset Revaluation Subtotal Subtotal - Impairment loss - Disposals Gains or losses recognised in net result Gains or losses recognised - Depreciation Reclassification Transfers in (out) of capital works in (out) Transfers Unrealised gains/(losses) on non-financial assets Unrealised Transfers in (out) of Level 3 in (out) Transfers Closing balance Purchases (sales) Purchases Items recognised in other economic flows- Items recognised income other comprehensive - Physical Asset Revaluation Subtotal 2019 Opening balance
Subtotal NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES Reconciliation of Level 3 fair value movements of Level 3 fair value Reconciliation — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
Significant Significant (i) unobservable inputs Community Service Obligation (CSO) adjustment Heritage adjustment cost per square Direct metre Useful life of specialised building Heritage adjustment Useful life of 10 years Useful life of 40-100 years Useful life of Plant of 3-15 years Valuation technique Valuation Market approach Current cost replacement Current cost replacement Current cost replacement Current cost replacement
Specialised land Specialised buildings Building improvements at fair value Shilling wall monument at fair value Plant and furniture at fair value Note: unobservable inputs and (i) Illustrations of the valuation techniques, significant indicative and should not be quantative range of those inputs are the related independent valuer. used without consultation with the Trust’s directly applied to of 30% were (ii) CSO adjustment of 20% and a heritage adjustment specialised land. value for the Trust’s the market approach reduce remained unchanged since June 2018. Significant unobservable inputs have
Description of significant unobservable inputs to Level 3 valuations inputs to Level of significant unobservable Description NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES
Queen Victoria Women’s Centre Annual Report 2018–2019 40 Queen Victoria Women’s Centre Annual Report 2018–2019 41 $ - 2 2 2018 317,467 317,467 6,120,270 (1,178,023) 21,962,697 28,400,434 (1,178,023) 28,082,967 $ - 1 1 2019 317,467 903,447 (60,517) 317,467 (60,517) 28,082,967 29,303,881 28,986,414 — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
.
the revaluation of the present value of the long service leave liability due to changes in the bond interest rates.s leave liability due to changes in the bond interest value of the long service of the present the revaluation
Net change in reserves Total other gains/(losses) from other economic flows. other economic other gains/(losses) from Total Balance at end of financial year Other gains/(losses) from other economic flows Other gains/(losses) from leave liability (a) of long service revaluation Net gain/(loss) arising from General surplus Balance at beginning of financial year Total net gain/(loss) on non-financial assets Total Balance at end of financial year Reversal of building valuation decrement Revaluation increment/(decrement) Revaluation increment/(decrement) Net gain/(loss) on non-financial assets plant and furniture Net gain/(loss) on disposal of property, Notes: (a) Revaluation gain/(loss) due to the changes in the bond rates Notes: (a) Revaluation gain/(loss) due to the changes Note 8.2 Reserves surplus Physical Asset revaluation Balance at beginning of financial year The Trust created a general surplus in 2009, with an initial allocation of $25,000, to provide for expenditures that cannot be met from normal that cannot be met from for expenditures a general surplus in 2009, with an initial allocation of $25,000, to provide created The Trust income sources.
Other Disclosures Note 8 Other NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES • Note 8.1 Other economic flows included in net result in net Note 8.1 Other economic flows included transactions. Other gains/(losses) result from changes in the volume or value of an asset or liability that do not Other economic flows are or losses from: other economic flows include the gains from 8.6 Remuneration of auditors 8.7 Subsequent events not yet effective issued that are Standards 8.8 Australian Accounting 8.9 Style conventions 8.3 Responsible persons 8.4 Remuneration of executives 8.5 Related parties 8.1 Other economic flows included in net result included in net 8.1 Other economic flows 8.2 Reserves This section includes additional material disclosures required by accounting standards or otherwise, for the understanding of this financial report. of this financial for the understanding or otherwise, standards by accounting required disclosures includes additional material This section Structure
30 October 2018 30 June 2019 30 June 2019 29 January 2018 30 June 2019 19 September 2018 19 September 2018 30 June 2019 16 September 2018 30 June 2019 30 June 2019 30 June 2019 30 June 2019 30 June 2019 30 June 2019 30 June 2019 30 June 2019 to to to to to to to to to to to to to to to to to 1 July 2018 29 November 2018 30 January 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 1 July 2018 23 October 2018 23 October 2018 23 October 2018 — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
The Hon Gabrielle Williams MP Jo Porter Michelle Walsh Badham Van The Hon Natalie Hutchins MP The Hon Natalie Hutchins Josie Rizza Kelly Johnston Marion Lau OAM JP Michelle Plane Tracy Williams Tracy Constantina Dertimanis Jenna Davey-Burns Meghan Hopper Merrin Mason Florence Mauwa Florence Sharmini Subramaniam Judith Maddigan
Minister for Women Chief Executive Officer Officer Acting Chief Executive members Trust Minister for Women
Note 8.3 Responsible persons Note 8.3 Responsible (FMA), the Act 1994 under the Financial Management Treasurer by the Assistant issued Ministerial Directions with the In accordance period. for the reporting persons responsible made regarding are following disclosures Names as follows: Trust were Centre Women’s in the Queen position of Minister and Accountable Officer The persons who held Victoria NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES Note 8.4 Remuneration of Executives remuneration is included The CEO Officer. the Chief Executive did not employ other Executives in 2019 apart from The Trust Remuneration Trust during Officer in connection with the management of the by the Accountable or receivable Remunerations received to $170,000 (2018: $170,000 to $180,000). period was in the range $160,000 the reporting in Note 8.5
Queen Victoria Women’s Centre Annual Report 2018–2019 42 Queen Victoria Women’s Centre Annual Report 2018–2019 43
$ - - 2018 16,764 202,240 219,004 119 Employee Benefits) in all forms of consideration paid, 119 Employee Benefits) in all forms of consideration
— FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
124 Related Party Disclosures 124 Related Party Disclosures
$ - - 2019 14,312 175,997 190,308
the Minister for Women and her close family members and her the Minister for Women all key management personnel and their close family members and personal business interests (controlled entities, joint (controlled personal business interests and their close family members and all key management personnel significant influence over); and entities they have ventures
Short-term employee benefits Post employment benefits Other long-term benefits Termination benefits Termination Total remuneration (a) remuneration Total Significant transactions with government-related entities Significant transactions (2018: $nil). (2018: $339,352) and $1,200,000 capital grant the State Government $439,352 funding from received The Trust the Trust Williams the Hon, Gabrielle MP, the Hon, Natalie Hutchins MP, includes l of the Trust Key management personne Officer. members and Chief Executive All related party transactions have been entered into on an arm’s length basis. into on an arm’s been entered party transactions have All related
Notes: (a) The total number of executive officers includes persons who meet the definition of Key Management Personnel (KMP) of the entity under AASB NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES Remuneration of key management personnel receives. the salaries and benefits the Portfolio Minister The compensation detailed below excludes is set by the Parliamentary Salaries and Superannuation Act 1968 and is and allowances remuneration The Minister’s Services’ Financial Report. within the Department of Parliamentary reported Remuneration comprises employee benefits (as defined in AASB Remuneration comprises employee benefits is remuneration Accordingly, in exchange for services rendered. or on behalf of the entity, by the entity, payable or provided in the following categories. determined on an accrual basis, and is disclosed usually paid or leave or sick leave that are Short-term employee benefits include amounts such as wages, salaries, annual goods or services. or subsidised benefits such as allowances and free basis, as well as non-monetary payable on a regular basis when or payable on a discrete benefits paid Post employment benefits include pensions and other retirement employment has ceased. compensation. benefits or deferred Other long-term benefits include long service leave, other long service such as severance packages. benefits include termination of employment benefits, Termination • • 8.5 Related parties 8.5 Related Act 1994 and Centre Queen Victoria established under the was Women’s Trust Centre VictoriaThe Queen Women’s operates as a single entity. include: Trust Related parties of the and are also reported within the related parties note disclosure (Note 8.5). parties note disclosure within the related also reported and are
$ 2018 14,300 $ 2019 14,700 for Not-for-Profit Entities defers mandatory effective effective Entities defers mandatory for Not-for-Profit and Codes of Conduct and Act 2004 and Codes of Conduct Public Administration — FOR THE YEAR ENDED 30 JUNE 2019 YEAR ENDED 30 — FOR THE
Determining whether an Arrangement contains a Lease, AASB 4 Determining whether an Arrangement contains Leases, AASB Interpretation 117
replaces AASB replaces
Victorian Auditor-General’s Office - Audit of the financial statements Auditor-General’s Victorian Note 8.8 Australian Accounting Standards issued that are not yet effective that are issued Note 8.8 Australian Accounting Standards period that includes: reporting for the 2018-19 not effective have been published but are new accounting standards Certain new and revised AASB 16 Leases Note 8.7 Subsequent Events disclosure. requires date that has been no event after reporting There NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES Evaluating the Substance of Transactions Involving the Legal 127 Evaluating the Substance of Transactions 115 Operating Leases-Incentives and AASB Interpretation Interpretation Form of a Lease. to adopt AASB 16 in 2019-20 intends or after 1 January 2019. The Trust periods beginning on date is for annual reporting The effective financial year when it becomes effective. recognised as an of initial application with the cumulative effect approach retrospective using a modified will apply the standard The Trust comparative information. of surplus at 1 July 2019, with no restatement adjustment to the opening balance of accumulated leases under AASB classified by a lessee as operating available on adoption to account for leases previously are practical expedients Various less than 12 months) and low value leases (deemed to be will elect to use the exemptions for all short-term leases (lease term 117. The Trust below $10,000). or after 1 January 2019. periods beginning on will apply to annual reporting Contracts with Customers AASB15 Revenue from Note 8.9 Style conventions rounding. in tables between totals and sums of components reflect Discrepancies in the tables and in the text have been rounded. Figures Amendments to Australian Accounting Standards - Deferral of AASB 15 AASB 2016-7 Amendments to Australian Accounting Standards revenue when recognise an entity to requires 1 January 2018 to 1 January 2019. This standard from entities date of AASB 15 for not-for-profit recognition revenue The changes in good or services to a customer. the entity satisfies a performance obligation by transferring a promised in the financial statements. recorded in changes to the timing and amount of revenue in AASB 15 may result requirements and it applies, with limited Interpretations AASB 15 supersedes AASB 118 Revenue, AASB 111 Construction Contracts and related contracts with its customers. arising from exceptions, to all revenue contract that imposes a sufficiently specific an enforceable revenue arising from AASB 15 establishes a five-step model to account for upon the fulfilment revenue only recognise entities to performance obligation on an entity to transfer goods or services. AASB 15 requires allocate the transaction price to each performance obligation in a contract and entities need to of the performance obligation. Therefore, obligation is satisfied. only when the related the revenue recognise reporting periods beginning on or entities for annual for not-for-profit guidance will come into effect AASB 15, AASB 1058 and the related in 2019-20 financial year when it becomes effective. to adopt these standards intends after 1 January 2019. The Trust recognised as an of initial application with any cumulative effect approach retrospective using a modified will apply the standard The Trust of comparative information. adjustment to the opening balance of accumulated surplus at 1 July 2019, with no restatement and assessment of AASB 15 and AASB 1058 and the potential impact for each major class of revenue has performed an impact The Trust income in the initial year of application has been estimated as immaterial. to considered periods, but are reporting future have been issued that apply for and AASB interpretations Several other amending standards reporting. have limited impact on the Trust’s is no intention to early adopt the above accounting standards. There Note 8.6 Remuneration of auditors Note 8.6 Remuneration Transactions and balances with key management personnel and other related parties other related personnel and with key management and balances Transactions the Victorian parties transact with consistent sector in a manner public activities, related depth of State government and Given the breadth within employment of processes Further and charges. other government fees e.g. Stamp duty and members of the public with other the Victorianconsistent with the sector occur on terms and conditions public with the occur on terms and conditions consistent processes issued by the VictorianProcurement Public Sector Commission. Standards requirements. Board Victorian Procurement Government key party transactions that involved no related were there type transactions with the State Government, Outside of normal citizen nor any expense required, has been No provision business interests. their close family members and their personal management personnel, parties. related from of receivables for impairment recognised, their close that involved key management personnel, party transactions no related were type transactions, there Outside of normal citizen for the Trust. personal business interests family members and their parties. related from for impairment of receivables recognised, nor any expense has been required, No provision
Queen Victoria Women’s Centre Annual Report 2018–2019 44 Queen Victoria Women’s Centre Annual Report 2018–2019 45
EMILY’s List Australia www.emilyslist.org.au EMILY’s www.fittedforwork.org Fitted for Work Ovarian Cancer Australia www.ovariancancer.net.au Counterpart www.counterpart.org.au Domestic Violence Australia (DV Vic) www.dvvic.org.au
Council of Single Mothers and their Children Inc (CSMC) www.csmc.org.au Council of Single Mothers and their Children CASA House (Centre Against Sexual Assault) www.casahouse.com.au CASA House (Centre Suzi & Yussra/Think Impact Suzi & Yussra/Think Willett Marketing Schindler Lifts SisterWorks Steph Ransom Peter, Josh & Liam/Qtec Peter, Platform Lifts QV Security Matthew Banhidi/Inscape Festival Melbourne Writers Joan Fitzpatrick/Alvearium Mark Dibenedetto Mary & Sean/Cleanforce Coloured Lines Coloured & team/Dexus Corey & Nicol Forde Amy Hudson Women Office for Paxman, Bridget Palmer & Margot Amy Gray Victorian Government through the Office for Women the Office for Victorian through Government City of Melbourne
• • • • • ACKNOWLEDGEMENTS • Tenants • • • • • • • • • • • • • • • • • • • Acknowledgments and thank yous and thank Acknowledgments • Grants and Sponsorships Grants • • The Queen Victoria Women’s Centre gratefully acknowledges the support of the following: the support gratefully acknowledges Centre VictoriaThe Queen Women’s QUEEN VICTORIA WOMEN’S CENTRE TRUST GROUND FLOOR, 210 LONSDALE STREET MELBOURNE VIC 3000
ABN : 61 006 499 231