ANNUAL REPORT 2014

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Chancellor’s letter 03 The Melbourne Operating Model 60

The Melbourne vision 04 Sustainability 64

The year in review 06 Council membership 72

Positioned for success: Senior leadership 74 world ranking performance 08 University governance 76 Five-year statistics 11 Statutory reporting 84 Our people 14 Disclosure index 102 Research 20 Index 106 Students and learning 30

Engagement 46 For full financial statements see Volume 2

Front cover image: Brian Lewis Atrium, Melbourne School of Design. Photo by John Gollings Elizabeth Alexander AM Chancellor

The Hon Steven Herbert, MP Minister for Training and Skills 2 Treasury Place EAST MELBOURNE VIC 3002 20 March 2015

Dear Minister In accordance with the requirements of regulations under the Financial Management Act 1994, it gives me great pleasure to submit for your information and presentation to Parliament the Annual Report of the University of Melbourne for the year ending 31 December 2014. The Annual Report was approved by the University of Melbourne Council at its meeting on Monday 16 March 2015. For the University of Melbourne, 2014 marked another strong year. Demand for undergraduate places at the University continued, with the median undergraduate ATAR remaining steady at 94.25. Graduate offerings saw impressive growth, with a significant increase in demand for graduate coursework and research programs. Research strength was reflected in the University ranking 44th in the Academic Ranking of World Universities by Shanghai Jiao Tong University, the highest ever for an Australian University; 33rd in the Quacquarelli Symonds (QS) World University Rankings; and 33rd in the Times Higher Education University World Rankings (THES). To maintain or indeed to improve these rankings will require adroit and careful management of resources, both intellectual and financial, and in the current circumstances this is going to be a significant challenge. Continuing to strengthen and develop relationships and partnerships with industry and the Parkville medical precinct in particular, is a continuing priority. Council continued to work hard in 2014, and will continue to do so in 2015. In my fourth year as Chancellor it was my pleasure to again lead the Council in its work. I look forward to the opportunity to contribute further to the University’s challenges and successes in 2015. Yours sincerely

Elizabeth Alexander AM Chancellor 004

The Melbourne vision

The University of Melbourne is committed to being one of the finest universities in the world.

As a fine academic institution, Melbourne honours its traditional promise to uphold the scholarly values of intellectual freedom, honesty, openness and rigour.

As a fine research institution, Melbourne seeks to harness the strength, breadth and depth of its research to help meet global challenges.

As a fine teaching institution, Melbourne aims to attract the brightest student cohorts from the widest range of backgrounds, offering an outstanding educational experience.

As a public-spirited institution, Melbourne declares its intention to make research, student learning, and engagement serve public ends. This includes taking up pressing societal problems in research, producing graduates prepared for responsibility, and promoting inquiry and open debate based on evidence and reason.

As an internationally engaged institution, Melbourne undertakes to work with overseas colleagues and students to meet global challenges with intelligence, ingenuity, and respect for humanity.

As a university with a strong sense of place, Melbourne reaffirms the unique virtues of its campus locale, where face-to-face teaching remains the norm, where scholars gather from across the globe, and where learning communities embrace evolving technologies.

Melbourne is a place where great teachers lead talented students to open their minds, share wisdom and face the great unknowns; a place where each new generation can define a future that it values. 005

SCHOLARLY VALUES » intellectual freedom » honesty » openness EXPERIENCE » rigour Providing students with learning experiences to challenge, expand and enrich lives and propel social equity.

INTERNATIONALLY ENGAGED Working with overseas colleagues and students to meet global challenges

RESEARCH Our vision for research is to ensure excellence that drives impact. 006 THE YEAR ANNUAL IN REVIEW REPORT 2014

This is the first time an Australian institution The year has been ranked in the Top 50 of the in review best research universities in the world. An uncertain public funding and regulatory environment affected all Australian universities in 2014. With major change proposals from the federal government stalled in the Senate, the University focused on maintaining standards of excellence amid the prospect of further externally imposed change.

Research Page 20

Ranked 44th in the Academic Hallmark Research Initiatives Research, Innovation and Rankings of World Universities for Ageing Research + Commercialisation (RIC) structure

The University of Melbourne was ranked Computational Biology Research As part of the Business Improvement 44th in the Academic Rankings of World Testimony to the University’s collaborative Program, the University implemented Universities (ARWU) from Shanghai research capacity, 2014 also saw the a new professional structure, Research, Jiao Tong University, the first time an establishment of another portfolio of Innovation and Commercialisation (RIC), Australian institution has been ranked mid-sized research networks, ‘Hallmark designed to identify and support opportunities in the top 50 on the ARWU list of best Research Initiatives’, in areas including for researchers to engage more closely research universities in the world. Ageing Research, and Computational with industry and business partners. Biology Research.

Students and Learning Page 30

Increase in the demand Increase in Revised faculty structure for undergraduate courses enrolments in MOOCs A review of the Melbourne School of + graduate programs Enrolment in Melbourne’s Massive Open Land and Environment (MSLE), paved the way for a revised faculty structure The University again experienced strong Online Courses (MOOCs) also continued to grow in 2014. The Coursera relationship with the establishment of the Faculty of demand for undergraduate courses with Veterinary and Agricultural Science. increases in the ‘clearly-in’ ATAR scores continues to be a strong part of the online across almost all bachelor degrees. learning strategy. Work during 2014 saw Similarly, there was a significant increase ten MOOCs delivered and a further seven in demand for graduate programs. in production. There were over 640,000 expressions of interest (enrolments). 007

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The Outlook

In 2015, we will once again strive to be a public-spirited institution, ranked among the finest universities in the world.

Engagement Page 46

Boosting philanthropic support Major projects Scholarships

The University’s first sustained effort Important construction initiatives were The University was also a founding partner to boost philanthropic support in half heralded in 2014, including the completion with the Westpac Bicentennial Foundation a century, Believe – the Campaign for of the state-of-the-art Melbourne School in establishing the largest private education the University of Melbourne, raised over of Design; a project with the Victorian State scholarship program in Australian history. $103.9 million in 2014, bringing the total Government and private philanthropy worth The $100 million fund will provide to $401.9 million. A number of major gifts more than $40 million to redevelop the Dodds approximately 100 scholarships every year were announced, including a $10 million Street stables into a visual arts wing; and in perpetuity at universities across the nation. donation to develop the Wade Institute the $6.7 million facelift of the University’s of Entrepreneurship at Ormond College; Sports Pavilion, in collaboration with AFL a $10 million donation to establish the Victoria and the Blackwood Trust, and University of Melbourne Poche Centre for significant philanthropic support. Indigenous Health; and a donation valued at over $26 million of the Michael Buxton Collection of Contemporary Australian Art.

Business Improvement Program Page 61

At the end of 2014 the Business This Program follows the University’s Improvement Program had completed firm decision in 2013 to respond to a volatile foundations for the transformation of the funding and regulatory environment by University’s administration to a shared reviewing its operating model. The focus services approach. New organisational has also been on improving the quality structures were in place across Chancellery, and effectiveness of support systems Academic divisions and University Services, and processes. with the University on track to realise significant cost savings for reinvestment in research, teaching and engagement. Professor Glyn Davis AC Vice-Chancellor GLOBAL IMPACT IN Positioned WORLD RANKINGS Melbourne’s international student profile of 31% in for success 2014 helped strengthen Global Impact in world rankings.

WORLD RANKING PERFORMANCE

The University of Melbourne welcomed the release of the 2014 academic rankings POSTGRADUATE of world universities from 49% Shanghai Jiao Tong University, UNDERGRADUATE placed at number 44. 51% RHD LOAD INCREASE 42,653 STUDENT ENROLMENTS RHD load has grown by 9% in the last 5 years contributing 13,193 INTERNATIONAL to the strong pipeline of STUDENTS research talent. 640K STUDENTS ENROLLED IN MOOCS More than 640K students from around the world enrolled in Melbourne’s Massive Online 8,075 TOTAL STAFF Open Courses (MOOCs) offered through the learning platform Coursera.

MELBOURNE HAD 18 HIGHLY CITED RESEARCHERS Doubling since 2010.

RHODES SCHOLARSHIPS GRADUATE RESEARCHERS AWARDS Three Melbourne students were awarded Rhodes In 2014, graduate researchers Scholarships in 2014 were awarded 347 PG awards (see page 19). and 33 International PG Research scholarships worth more than $30M in support.

2014 SUBJECT EXPERIENCE SURVEY (SES) 2014 Subject Experience Survey #1 PREFERENCE (SES) indicated continued Number one preference improvement in students’ satisfaction. for Undergraduate students All of the University’s eleven faculties studying Arts, Science, met the University’s target for Subject Commerce and Biomedicine. Delivery and Student Learning. AUSTRALIA’S #1 UNIVERSITY

LARGEST OUTBOUND MOBILITY PROGRAM Melbourne has the largest outbound mobility program TOP 50 with 2800 students participating MEDIAN ATAR in an exchange or study abroad 94.25% POSITIONED  program in 2014. FOR SUCCESS

ALUMNI $401.9M RAISED THROUGH THE CAMPAIGN One hundred and thirty Alumni featured By the end of 2014, prominently in the Melbourne raised $401.9M Australian Honours through The Campaign, $401.9M List in 2014. thanks to the generosity of so many donors. raised

INTERNATIONAL AGREEMENTS WITH UNIVERSITIES AROUND THE WORLD There are now 239 International Agreements with Universities 239 International around the world – leveraging collaborative teaching and Agreements research potential. Research rankings

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Five-year statistics

Northern facade of the Melbourne School of Design. Photo by John Gollings 012 FIVE-YEAR ANNUAL STATISTICS REPORT 2014

MEDIAN ATAR OF RESEARCH PERFORMANCE % The University is doubling 25 its number of highly cited Representing 25 94.25 researchers to 18. percent of the group within Australia

Five-year statistics

STUDENTS AND LEARNING

The success of the Melbourne Curriculum highly cited researchers to 18, representing FINANCE has been underpinned by continued growth 25 percent of the group within Australia.2 in student load while maintaining a robust The Research@Melbourne strategy is The University is operating in a period median ATAR of 94.25. Over the last five designed to guide continued increase of unprecedented funding uncertainty and years, the University student profile grew the impact of the University’s research. volatility. Despite this, in 2014 it achieved at an average year-on-year rate of 4 percent an underlying operating surplus of $5.8 Within the research higher degree space increasing over 6000 EFTSL from 36,619 million, similar to that delivered in the completions rates have remained mostly in 2010 to 42,653 in 2014. prior year. Major drivers of this outcome steady. A focus on improving student were excellent growth in student revenue The gradual equalising of undergraduate and cohort experience is seen across the of $91.5M combined with prudent to postgraduate students (51:49 at 2014), University with tailored approaches initiated constrained cost increases, offset by as well as sustained demand from by different faculties and graduate schools. restructure costs related to the Business international students, all highlight the Improvement Program. The launch University’s world-class teaching and STAFF of The Campaign to raise $500 million learning. Within an increasingly competitive by 2017 has been hugely successful, environment, the University’s market share Professional staff numbers declined achieving over a threefold increase remains strong, occupying 16 percent slightly and academic staff numbers in philanthropic income since 2009. and 4 percent of the state and sector’s remained flat in 2014 in line with For full financial statements and student load respectively. the Business Improvement Program detailed commentary, see Volume 2. and transformation of the University’s RESEARCH PERFORMANCE administration to a shared services model. Efforts to improve staff satisfaction have In line with its position as Australia’s yielded positive results as seen by the leading university1, the University has above average outcomes compared to delivered strong outcomes on research Group of Eight (Go8) across most measures performance measures, particularly in the Staff Climate Survey, along with for Competitive Grant Income, citations improvements in diversity in the staff profile and RHD completions. The quality and achieving gender pay equity. Continued and impact of research publications focus on human resources will be a key has continued to improve, with the priority for the University as it embarks University doubling its number of on a new operating model.

1 Highest ranked Australian university based on international ranking bodies of ARWU (44), THE (33) and QS (33). 2 Based on Thomson Reuters, a total of 3776 highly cited researchers were recorded, of which Australia has 71 (1.9%) and Melbourne 18.

* Eligible completions means those included in RTS formula, excludes Higher Doctorates by publication.

Notes 1 Median ATAR for enrolled students, based on both Commonwealth supported places and international on-shore students. 2 2014 student enrolments, award completions and research performance indicators are estimates. 3 Staff FTE includes continuing, fixed-term and casual staff. Data based on the Staff Data Return to the Commonwealth in March. 4 The amounts represent the University financial results excluding subsidiaries. 5 Underlying operating result represents the University’s accounting surplus less net discretionary investment income, infrastructure grants and endowment receipts. Refer to volume 2 for further details. (Page 1 of 10) 6 Includes Commonwealth Grants Scheme and Commonwealth research grants (JRE, RTS, RIBG and SRE). 013

2010 2011 2012 2013 2014

Median ATAR 1 93.90 93.10 93.85 94.30 94.25

Student Enrolments (EFTSL) 2 Total Load 36,619 36,843 38,243 40,445 42,653 Research Higher Degree 3,216 3,110 3,201 3,316 3,521 Postgraduate Coursework 8,289 9,735 12,517 14,984 17,193 Undergraduate 25,114 23,998 22,524 22,145 21,939 % Female Enrolment 55.2% 55.0% 55.0% 54.7% 54.7% International Load 10,143 10,159 10,652 11,705 13,193 % International Students 27.7% 27.6% 27.9% 28.9% 30.9% Commonwealth Supported Places (incl RTS) 22,887 23,092 23,802 24,105 24,252

Award Completions 2 Research Higher Degree (excl Higher Doct) 727 777 738 744 729 PG Coursework 4,440 6,155 7,419 8,266 9,549 Undergraduate 7,726 8,563 8,431 7,822 7,207 Total 12,893 15,495 16,588 16,832 17,485

Staff (FTE) 3 Academic 3,405 3,448 3,613 3,741 3,729 Professional 3,913 4,196 4,520 4,569 4,346 Total 7,318 7,644 8,133 8,310 8,075

Student Staff Ratio T&R Academic Staff 24.2 24.5 23.9 23.9 25.0 All Academic Faculty Staff 10.8 10.7 10.6 10.8 11.4

Research Performance Indicators 2 Research Income ($million) 357.0 376.5 376.4 373.9 383.6 (est) Research Publications 4,271 4,533 5,044 5,150 5,300 (est) Research Load (EFTSL) 3,220 3,110 3,201 3,316 3,521 Research Completions (eligible) * 727 777 738 744 729 Financials ($million) 4 Total Underlying Operating Income 1,463.8 1,554.7 1,675.1 1,751.0 1,891.8 Total Underlying Operating Expenditure 1,480.7 1,552.3 1,680.8 1,743.8 1,886.1 Underlying Operating Result 5 -16.9 2.4 -5.8 7.2 5.8 Underlying Operating Margin (%) -1.1% 0.1% -0.3% 0.4% 0.3%

SOURCES OF UNDERLYING OPERATING INCOME (%) Australian Government Recurrent Financial Assistance 6 25.8% 25.9% 25.9% 24.7% 23.0% Other Australian Government Financial Assistance 21.7% 23.0% 22.9% 19.7% 17.9% HECS-HELP 8.9% 8.7% 8.6% 9.5% 9.2% FEE-HELP 2.7% 3.0% 3.4% 4.4% 4.9% State Government Financial Assistance 3.9% 2.9% 4.9% 3.2% 2.8% Fees and Charges 26.2% 26.5% 26.2% 28.0% 30.3% Investment Income 1.7% 2.1% 1.9% 1.9% 1.6% Donations and Bequests 3.1% 1.9% 0.6% 0.3% 1.5% Other Income 6.0% 6.0% 5.6% 8.3% 8.8% 014 ANNUAL REPORT 2014

Staff member, Stephanie Lampe from the Faculty of the Victorian College of the Arts (VCA) and Music

Our people

The University of Melbourne is a dynamic community of world-class academics, researchers and students supported by a team of dedicated professional staff.

In 2014, the Vice-Chancellor’s Awards for Outstanding Contribution recognised the exceptional contributions made by professional staff members toward fulfilling the University’s goals, values and mission. The Vice Chancellor awarded five individuals and two teams for their sustained and significant contribution. These were selected from 16 nominations across six categories: Outstanding service and client focus; Creating connections: Contribution to engagement; Excellence in process improvement and innovation; Demonstration of staff values; and Exceptional leadership and vision.

Many other prestigious awards recognised the exceptional achievements of the University’s staff and students during the year. 015

High-achieving staff

AAH Fellows Asia – Pacific Association Professor Véronique Duché (School of International Education of Languages and Linguistics) and The University’s Deputy Vice-Chancellor Dr Heather Jackson (School of Historical and (Engagement), Professor Susan Elliott, was Philosophical Studies) were named fellows of named the Vice-President of the Asia-Pacific the Australian Academy of the Humanities. Association of International Education. ACMI Fellow Australia Day Honours Professor Fernando Martin Sanchez Professor Sam Berkovic, (Department (Health and Biomedical Informatics Centre) of Medicine and the Epilepsy Research was made a fellow of the American College Centre at Austin Health) and Professor of Medical Informatics. Bruce McKellar (ARC Centre of Excellence for Particle Physics at the Terascale) were Alan Coates Award for Excellence each recognised with a Companion of the in Clinical Trials Research Order of Australia (AC) in the Australia Day Professor Michael Green (Western Health) Honours for 2014. was awarded the Alan Coates Award for excellence in clinical trials research by the Australian Academy of Science Fellowship Australian and New Zealand Breast Cancer Professor Ingrid Scheffer (Austin Health), trials group. Professor Ivan Marusic (Department of Mechanical Engineering) and Professor American College of Barbara Howlett (School of Botany) were Cardiology Fellowship elected as fellows of the Australian Academy Associate Professor Peter Barlis (NorthWest of Science in recognition of their role in Academic Centre) was named a Fellow advancing the sum of scientific knowledge. of the American College of Cardiology for his outstanding achievements in Australian Awards for University Teaching cardiovascular medicine. Four University academics received Citations for Outstanding Contributions as part of the American College of Veterinary Federal Government’s Australian Awards Surgeons Founders’ Award for University Teaching in recognition of their Emeritus Professor Simon Turner was sustained and significant contribution to awarded the American College of Veterinary the quality of student learning: Surgeons Founders’ Award for Career Achievement in recognition of lifetime »» Associate Professor Jennifer Hayes achievement in research. (Department of Anatomy and Neuroscience) for sustained excellence Anne Anderson Award in developing innovative approaches Professor Elizabeth Waters received to students’ learning and engagement the Anne Anderson Award at the 22nd in clinical anatomy. Cochrane Colloquium for her promotion of female leadership and contribution within the Cochrane Collaboration. 016 OUR ANNUAL PEOPLE REPORT 2014

Professor Ingrid Scheffer, recipient of the 2014 Prime Minister’s Prize for Science. Photo by Mark Farrelly

»» Associate Professor Andrew Melatos Eureka Prizes (Department of Physics) for sustained The University’s SEARCH (South-Eastern impact in physics postgraduate Australian Recent Climate History) team won supervision, distinguished by a 100 the prize for Excellence in Interdisciplinary percent completion rate and prestigious Scientific Research. Professor Terry Speed, peer-reviewed articles, international Bioinformatics Division Head at the Walter prizes, and ‘knowledge economy’ and Eliza Hall Institute of Medical Research, jobs for graduates. won the CSIRO Eureka Prize for Leadership »» Dr Melanie Plesch (Melbourne in Science in recognition of his guidance Conservatorium of Music) for sustained of the bioinformatics team at the Institute, commitment to fostering a culture of and his contributions to the wider field. research-led performance by creating Additionally, Professor Philip Hodgkin’s B-cell relevant experiences that help music team at the Walter and Eliza Hall Institute students see the connection between won the University of New South Wales research and performance. Eureka Prize for Scientific Research. COUNCIL FOR THE ADVANCEMENT AND »» Ms Bronwyn Tarrant (Department European Stroke Conference (ESC) SUPPORT OF EDUCATION’S (CASE) of Nursing) for excellence in the Johann Jacob Wepfer Award ASIA-PACIFIC LEADERSHIP AWARD development of curricular and e-Learning Professor Stephen Davis (Director of resources to bridge the theory-practice Neurosciences at The Royal Melbourne gap in nursing education. Hospital and current President of the World Council for the Advancement and Stroke Organization) and Professor Geoffrey Australian Blackboard User Group Support of Education’s (CASE) Donnan (Director of The Florey Institute of (ABUG) Member of the Year Asia-Pacific Leadership Award Neuroscience and Mental Health and Presented in 2014, Travis Cox (Learning previous President of the WSO) received University of Melbourne Vice- Environments) was voted the Australian Chancellor Professor Glyn Davis the Johann Jacob Wepfer Award at the Blackboard User Group Member of the European Stroke Conference in Nice, France, was awarded the 2013 Council Year 2013. for the Advancement and Support for their work in the field of stroke research. of Education’s (CASE) Asia-Pacific Australian Research Council Excellence in Teaching Awards (2014) Laureate Fellowship Leadership Award. CASE is an »» James Angus Award for Outstanding international association of educational Professor Joy Damousi (School of Historical Higher Degree Supervision – Associate institutions promoting the support and Philosophical Studies) was awarded an Professor Andrew Melatos (School of higher education comprising more Australian Laureate Fellowship. In addition to of Physics) than 3,600 colleges and universities, the Laureate Fellowship, Professor Damousi » Edward Brown Award – Andrea O’Connor schools, and non-profit organisations received the Kathleen Fitzpatrick Award to » (Melbourne School of Engineering) in 82 countries. Professor Davis has undertake an ambassadorial role to promote been recognised for his leadership women in humanities, arts and social »» Norman Curry Award for Innovation in higher education, including his sciences research. and Excellence in Educational Programs role in promoting higher education – FSAE Program Team (Department Australian Society of Archivists at a national and international level, of Mechanical Engineering) Dr Rebe Taylor, Mr Michael Jones and implementing the first major whole-of- »» Patricia Grimshaw Award for Mentor Mr Gavan McCarthy from the University’s university strategy (Growing Esteem) Excellence – Professor Geoff Stevens eScholarship Research Centre (ESRC) were and curriculum overhaul of its kind, (Melbourne School of Engineering) championing the engagement agenda awarded a prestigious Mander Jones Award »» Rio Tinto Award for Excellence and strengthening the University’s by the Australian Society of Archivists. and Innovation in Indigenous Higher research effort, and progressing Climate Alliance 2014 Business Education – Professor Ian Williamson advancement activity by developing Leadership Awards and Dr Michelle Evans a highly successful philanthropic Harry Troedel (Property and Campus »» David White Award – Associate campaign – Believe – the Campaign Services) was presented with the for the University of Melbourne – Professor Michael Pyman (Faculty Business Leader of the Year Award of Veterinary Science) and furthering alumni engagement. as part of the Climate Alliance 2014 Business Leadership Awards. 017

Professor Sam Berkovic AC, recipient of the 2014 Prime Minister’s Prize for Science

»» Award for Outstanding Leadership Melbourne Awards of University Teaching – Associate Inaugural Director of the Doherty Institute UNLOCKING Professor Elizabeth Tudor (Faculty and leading HIV scientist and infectious EPILEPSY WINS PRIME of Veterinary Science) and Professor disease physician Professor Sharon Lewin Ian Malkin (Melbourne Law School) was named Melburnian of the Year, the MINISTER’S AWARD City of Melbourne’s highest accolade. The Gerry Baretto Award for Melbourne Awards honour a diverse range Outstanding Student Services of contributions, focusing on individuals, Gerry Baretto Awards were presented to communication organisations and groups Professors Sam Berkovic and Ingrid the MBS@ Berkeley Student Centre Team who work tirelessly for the benefit of the city. Scheffer have changed the way the and the Science Student Centre Team. world thinks about epilepsy. Minister for Justice Certificate For their contribution to the study IEEE Fellow Melbourne Law School and Professor Pip of epilepsy, its diagnosis, management Professor Rajkumar Buyya (Computing Nicholson received the Minister for Justice and treatment, they have been and Information Systems) was named Certificate from Vietnam’s Ministry of Justice awarded the $300,000, 2014 a fellow of the Institute of Electrical and for their services to law reform in Vietnam. Prime Minister’s Prize for Science. Electronics Engineers (IEEE), the world’s Professor Nicholson also received the largest professional association for the Ministry of Justice Medal for the ‘Cause Laureate Professor Sam Berkovic advancement of technology, in recognition of Justice’ in Vietnam. AC and Professor Ingrid Scheffer of his outstanding contributions to cloud AO from the University of Melbourne National Alliance on Mental Illness computing through the creation of utility- Department of Medicine at Austin Scientific Research Award oriented, networked resource management Hospital and the Florey Department Professor Patrick McGorry AO (Orygen systems, scheduling algorithms and of Neuroscience and Mental Health Youth Health) was awarded the National application platforms. have contributed to worldwide efforts Alliance on Mental Illness Scientific Research to explore and map inherited epilepsy. International Council of Ophthalmology Award in recognition of his role in developing Laureate Professor Hugh Taylor AC, treatments for young people with mental The two clinician-researchers have was named President of the International disorders and the influence he and led the way in finding a genetic basis Council of Ophthalmology. colleagues have had on health policy. for many epilepsies, building on their discovery of the first-ever link between IPAA Fellow Neville Quarry Architectural a specific gene and a form of epilepsy. Professor Helen Sullivan (Melbourne School Education Prize of Government) was named a fellow of the Professor Emeritus Miles Lewis AM won the “Finding answers to the puzzle Institute of Public Administration Australia 2014 Neville Quarry Architectural Education of epilepsy has been of profound (IPAA) in recognition of her role in establishing Prize, awarded by the Australian Institute importance for families,” Professor the Melbourne School of Government and of Architects in recognition of his teaching Scheffer said. her exceptional contribution to building in architectural history and heritage and Along the way, Professors Berkovic productive partnerships between the School his decades of influence on heritage and Scheffer discovered that a and IPAA Victoria. and conservation. particularly severe form of epilepsy, Law Institute of Victoria Awards Premier’s Award for Health thought to result from vaccination, Professor John Tobin (Melbourne Law and Medical Research was actually caused by a gene School) was presented with the Paul Baker Dr Jaclyn Pearson (Department of mutation. This finding dispelled Award at the Law Institute of Victoria Awards, Microbiology and Immunology) was significant concerns about in recognition of his extraordinary work in awarded the prestigious 2014 Premier’s immunisation. the promotion of human rights. Award for Health and Medical Research The professors’ discoveries of the for her groundbreaking work into how connections between epilepsy and diarrhoea-causing bacteria hide from genes is having a major impact on the immune system. epilepsy research worldwide and on strategies for diagnosis and development of new treatments. 018 OUR ANNUAL PEOPLE REPORT 2014

Prime Minister’s Prize for Science Victorian Honour Roll of Women 01 Laureate Professor Sam Berkovic AC Eight University of Melbourne alumnae and Professor Ingrid Scheffer AO from were included in the 2014 Victorian Honour the University of Melbourne Department Roll of Women, in recognition of their of Medicine at Austin Hospital and the Florey remarkable leadership and expertise in a Department of Neuroscience and Mental range of fields: Professor Marilyn Anderson Health were awarded the $300,000, 2014 (BSc(Hons) 1972); Dr Helen Durham Prime Minister’s Prize for Science, for their (BA 1989, LLB(Hons) 1991, SJD 2000); contribution to the study of epilepsy, its Professor Mary Galea (BA 1986, PhD diagnosis, management and treatment. 1992, GDipEpid&Biostat 2004); Professor Christine Kilpatrick (MB BS 1976, MD Research Australia Awards 1986, MBA (Exec) II 2007); Fiona McLeod Laureate Professor Alan Lopez, Director, SC (BA/LLB 1987, MPub&IntLaw 2012), Global Burden of Disease Group, received The Honourable Nicola Roxon (BA/LLB; (Hons) the prestigious Peter Wills Medal at the 1990); Professor Emeritus Sally Ann Walker Research Australia Awards. (LLB(Hons) 1976, LLM 1980, Dr E Marelyn Stella Prize Wintour-Coghlan (MSc 1963, PhD 1972, Historian Dr Clare Wright won the Stella DSc 1988). Prize for her book, The Forgotten Rebels Victorian of the Year of Eureka, the first non-fiction work to win Former University Vice-Chancellor and the prize. Professor Emeritus David Penington was Tucker Medal named Victorian of the Year in recognition Professor Emeritus Geoffrey Blainey AC of his significant and valuable contributions 02 was awarded the University’s inaugural to the Victorian community and his work Tucker Medal in recognition of his in medical education, research policy and contributions to the University, the public health. Faculty of Arts and to public life. Victorian Senior Australian of the Year Universitas 21 Fellowships Teacher and disability advocate Dr Christine and Scholarships Durham was named Victorian Senior Associate Professor Sophia Arkoudis Australian of the Year 2014. (Centre for the Study of Higher Education) Victorian Young Tall Poppy Science Award was awarded a Universitas 21 Fellowship Dr Andrew Zalensky (Melbourne for her capacity to inspire, extend and Neuropsychiatry Centre and Melbourne enthuse her students. Ms Jennifer Warburton School of Engineering ) and Dr Allison Milner (Melbourne School of Graduate Research) (Melbourne School of Population and Global received a Universitas 21 Scholarship in Health) won 2014 Victorian Young Tall Poppy recognition of her outstanding performance. Science Awards from the Australian Institute Victoria Prizes for Science and Innovation of Policy and Science for outstanding Professor Frank Caruso (Department of research and science communication. Chemical and Biomolecular Engineering) W.A. Premier’s Book Awards won the 2014 Victoria Prize for Science Dr Margaret Simons won the Western and Innovation (Physical Sciences). Australia History Award at the W.A. Professor Ashley Bush (Florey Institute Premier’s Book Awards for her biography of Neuroscience and Mental Health) of media magnate Kerry Stokes. won the 2014 Victoria Prize for Science 01 Andrew Wheeler, Rhodes Scholar and Innovation (Life Sciences).

02 Alexander Eastwood, Rhodes Scholar, with His Excellency the Honourable Alex Chernov AC QC, Governor of Victoria 019

High-achieving students

American Australian Association »» Jin Shang (Chemical and Biomolecular Education Fund Fellowships Engineering) for his thesis studying the Five University of Melbourne students separation of carbon dioxide from flue RHODES have been awarded American Australian gas and natural gas streams using porous SCHOLARSHIPS Association Education Fund Fellowships adsorbent materials for up to US$40,000 to undertake advanced »» Brandon MacDonald (Chemistry) for research at prestigious American institutions. his thesis developing a new method University of Melbourne Fellowship award for making photovoltaic cells to convert Three University of Melbourne winners are: Ron Tidhar (Departments of sunlight into electricity students were awarded Rhodes Computing and Information Systems, scholarships. Bachelor of Science Mathematics and Statistics and The Asia Gates Cambridge Trust Fellowships graduate Alexander Eastwood, 24, Institute), Ashleigh Hood (Department of Recent Melbourne graduates Sabrina Anjara, was the recipient of the Victorian Earth Sciences), Petter Nyman (Department Stephanie Mawson and Sandra Neoh have Rhodes Scholarship, while of Forest and Ecosystem Science), Gabrielle been awarded 2014 Gates Cambridge Trust Commerce and Arts graduates Josling (Faculty of Medicine, Dentistry and Fellowships to undertake postgraduate study Andrew Wheeler, 24, and Hamish Health Sciences) and Claire Gordon (Faculty at the University of Cambridge. McKenzie, 23, were chosen as of Medicine, Dentistry and Health Sciences). GEDC Airbus Diversity Award national Rhodes Scholars. Australian Boat Race University of Melbourne alumna and former Alexander Eastwood graduated The women’s eight crew from the University Young Australian of the Year, Marita Cheng, with a Bachelor of Science (Honours) of Melbourne, led by Captain Jennifer is the recipient of the 2014 GEDC Airbus degree from the University of Cleary, claimed their fifth consecutive Diversity Award at the World Engineering Melbourne and a Diploma of Modern Australian Boat Race title and claimed Education Forum (WEEF) in Dubai. Languages in 2014. He hopes to the Bella Guerin Trophy. study for Oxford’s Doctoral program Marvel Windsor Art Award in Neuroscience. British Open Tennis The Marvel Windsor Art Award, a $10 000 Commerce student Dylan Alcott has scholarship recognising Australia’s best Andrew Wheeler is currently a triumphed at the British Open, winning emerging talent, was awarded to Yandell management consultant with global the Wheelchair Quad tennis singles title Walton from the VCA for her piece, Presence. strategy firm LEK Consulting, and is in Nottingham, the United Kingdom. hoping to study a Master of Science Picchi Award in Economics for Development and Chancellor’s Prize for Excellence in a PhD students Julia Marchingo and Dr Chun a Master of Public Policy at Oxford. PhD Thesis Yew Fong were awarded the Picchi Award Mr Wheeler’s interest is in economic In 2014 the Chancellor’s Prizes for Excellence for Excellence for Cancer Research in development, with a particular focus in a PhD Thesis were awarded to: recognition of their originality, innovation on child health and education in the and contribution to cancer research. »» Luis Eslava (Law) for his thesis investigating Asia – Pacific region. the everyday operation and effects of Pratt Prize Hamish McKenzie has recently covered international law and development policies Chloe Jack, Hiep (Bill) Thuan Lu, Huachen the UN climate talks in Lima, Peru for »» Gary Foley (Culture and Communication) (Vincent) Liu, Fan Wu and Yue (Frank) Wu global newswire, TheVerb, and spent for his thesis presenting an (Department of Chemical and Biomolecular three years training young people autobiographical narrative of the Engineering) won the Pratt Prize for the in advocacy and social activism as Black Power Movement and the Best Design Project at a Victorian University a volunteer for World Vision Australia. 1972 Aboriginal Embassy for 2013. He has also established a social »» Jaclyn Pearson (Microbiology and Three Minute Thesis Competition enterprise importing ethically made designer goods from Cape Town Immunology) for her thesis investigating Bevan Main (Department of Pharmacology) to support revegetation in parts of how virulent E.coli infects the intestine won the 2014 Three Minute Thesis southern Africa. »» David Riglar (Medical Biology) for his Competition Grand Final. thesis investigating the processes critical Mr McKenzie is hoping to further his for human malaria parasite infection of interest in social activism and advocacy the red blood cell by studying a Master of Public Policy at Oxford. 020 ANNUAL REPORT 2014

Research

Research improves lives and contributes to the greater wellbeing of societies.

As a public-spirited institution, the University of Melbourne is committed to developing new insights and promoting a better understanding of the world.

RESEARCH HIGHLIGHTS 021

GLOBAL IMPACT IN RHD LOAD INCREASE WORLD RANKINGS RHD load has grown by 9% in the Melbourne’s international last five years, contributing to a strong student profile of 31% in pipeline of future research talent. 2014 helped strengthen Global Impact in world rankings. % % increase over International 9 the last 5 years 31student profile 2014

Melbourne had 18 Highly Cited TOP 50 Researchers doubling since 2010

From Research @ Melbourne: Ensuring Excellence and Impact to 2025

POSITIONED  FOR SUCCESS “The opportunity to pursue knowledge for its own sake is arguably one of humanity’s loftiest endeavours, thus rendering it a special privilege. Privilege means we have certain obligations – to justify our efforts to society, to communicate our research, and to ensure the conduct of our research is visionary, transformative and beneficial to those who we serve.” 022 ANNUAL RESEARCH REPORT 2014

Leading research GLOBAL RANKINGS The excellence of the University’s research is widely acknowledged. FOR 2014 International research rankings place Melbourne among the world’s leading universities, highlighting the quality and impact of its research across diverse fields.

25 28 Global 31 31 30 33 rankings 36 36 ACADEMIC 35 37 33 RANKING 34 OF WORLD Academic Ranking 40 38 of World Universities 44 UNIVERSITIES 44 45 Times Higher 50 54 Education 55 57 60 60 62 Quacquarelli Symonds TIMES HIGHER 65 33 EDUCATION 2010 2011 2012 2013 2014

Melbourne is the only Australian university to elevate the excellence and impact ranked in the top 50 in each of the of Melbourne’s research. Academic Ranking of World Universities The Grand Challenges articulated in the (ARWU), the Times Higher Education (THE) Research @ Melbourne strategy assume the and Quacquarelli Symonds (QS) rankings. QUACQUARELLI importance of both fundamental and applied In 2014 Melbourne achieved a ranking of SYMONDS research. From next year, this agenda will 33 44 in the ARWU, the highest-ever result for be supported by a new Research, Innovation an Australian institution. Melbourne has seen and Commercialisation (RIC) service, within a significant improvement in global rankings, University Services, to identify and support rising 48 places since the ARWU launched in opportunities for researchers to engage more 2003 and making it one of the fastest moving closely with industry and business partners. universities in the world in the top 100. Major recent initiatives such as the Carlton Research at Melbourne is guided by its Connect Initiative and the establishment of research and research training strategy the nearby IBM laboratory are important Research @ Melbourne: Ensuring Excellence commitments to working in this area. and Impact to 2025 (R@M). As a public- The Research @ Melbourne Accelerator spirited, research-intensive institution, Program (R@MAP) is an integral part of the our research must strive to make a tangible overarching Research @ Melbourne strategy. impact in Australia and the world. The R@MAP aimed to enhance the University’s strategy commits the University to research performance and international pursue three Grand Challenges: standing by recruiting up to 50 new »» understanding our place and purpose, outstanding researchers over a two-year »» fostering health and wellbeing, and period. The recruitment process began in 2013. We expect 45 fully funded »» supporting sustainability and resilience. appointments to be made through the In doing so it offers individuals and teams program with a further 30 researchers of researchers the opportunity to contribute partially supported. These appointments solutions to some of the most difficult complement the University’s existing problems facing our world in the next strengths in multiple disciplines and create century. Along with significant investment new collaborative opportunities across in research facilities, the strategy is designed the Academy. 023

Research performance RESEARCH INCOME

A number of sources contribute to the University’s research income, which in 2013 (the latest available data) totalled $373.9 UNIVERSITY OF MELBOURNE million. Australian Competitive Grant (ACG) RESEARCHER AWARDED income remains crucial to the University’s PRESTIGIOUS ARC research efforts, reaching $210.9 million in LAUREATE FELLOWSHIP 2013. Melbourne has maintained national leadership in Australian Competitive Grant income since 2009.

Australian Research Council (ARC) and World-class research into the history National Health and Medical Research of child refugees in Australia has Council (NHMRC) grants are important been recognised by the Australian components of ACG funding. Research Council (ARC), with the The University of Melbourne’s research award to Professor Joy Damousi of capability was boosted significantly in an Australian Laureate Fellowship. 2014 with the announcement that more She joins only 15 other distinguished than $73.7 million had been awarded to researchers around the country in NHMRC applicants as part of the $651.4 receiving this award. million allocated by the Federal Government to boost research efforts at the nation’s The Australian Laureate Fellowship universities, hospitals and medical research is the most prestigious individual institutes. These awards include Research fellowship the ARC awards. It attracts and Practitioner Fellowships, Partnership can uncover the knowledge concealed within world-class researchers and research Projects, Centres of Research Excellence, the size and complexity of big data sets. leaders to key positions, and creates Early Career Fellowships, Career new rewards and incentives for the University of Melbourne researchers are Development Fellowships, Equipment application of their talents in Australia. also involved in a further seven ARC Centres grants and Independent Medical Research of Excellence awarded in 2014, bringing $5.6 Applicants have to demonstrate not Institutions Infrastructure grants. million p.a. to the University and opportunities just the outstanding world-leading Melbourne researchers were involved for research collaboration and excellence. achievements of their research, but the in winning 83 grants – worth a total way in which they are well-supported The University will receive $10.8 million $32.2 million – in ARC funding announced in their own university, and the kinds of over six years through the Commonwealth’s this year for the Discovery Early Career capacity they will be able to build there. National Environmental Science Program, Researcher (DECRA) and Linkage including leading the Clean Air and Urban In addition to the Laureate Fellowship, Infrastructure, Equipment and Facilities Landscapes Hub, and leading nodes in Professor Damousi received the (LIEF) schemes for 2015. the Threatened Species Recovery and Kathleen Fitzpatrick Award to The University’s success rate in the Earth Systems Hubs, recognising the undertake an ambassadorial role Discovery Projects scheme was 19.3 University’s strength and breadth in to promote women in humanities, percent (compared to 18.0 percent nationally) environmental science. arts and social sciences research. and in DECRA was 14.7 percent (compared Professor Damousi is from the School These important nationally funded research to 14.3 nationally). University of Melbourne of Historical and Philosophical Studies. schemes play vital roles in supporting researchers have also been awarded the Her research project will look at the fundamental and applied or transformative largest share of ARC Future Fellowships history of child refugees in Australia, research across the disciplines, supporting funding, with more than $17 million allocated and how the past can inform us about and creating opportunities for talented to support 22 outstanding researchers. current and future approaches to researchers early in their careers and humanitarian immigration. In other ARC funding, the University was developing the infrastructure, equipment awarded $20 million for leadership and and facilities needed to sustain world-leading She joins eight other current Laureate hosting of the ARC Centre of Excellence research in Australia. Fellows at the University exploring for Mathematical and Statistical Frontiers big questions in biology, chemistry, of Big Data, Big Models, New Insights. engineering, mathematics, physics Launched in August 2014, the multi- and health. institutional Centre will create innovative mathematical and statistical models that 024 ANNUAL RESEARCH REPORT 2014

RESEARCH EXPENDITURE

Expenditure on research and research training from all sources was estimated to be almost $1.135 billion representing almost 56 percent of the University’s expenditure. In a 10-year period, the University’s research expenditure has almost doubled.

Research higher Research higher degree Research income Research publications degree load completions (eligible)*

$ million National rank Weighted National rank EFTSL National rank Number National rank score

2014 383.6 (est) n/a 5300 (est) n/a 3497 (est) n/a 729 (est) n/a

2013 373.9 2 5150 3 3316 2 744 3

2012 376.4 1 5044 3 3201 2 738 2

2011 376.5 1 4533 3 3110 2 777 2

2010 357.0 1 4271 3 3220 2 727 2

2009 337.0 1 4456 1 3173 2 775 1

CITATIONS

A number of indicators help measure ESTIMATED RESEARCH research impact. Citations are particularly INCOME FOR 2014: important in this regard. According to Thomson Reuters, in 2014 the University had 18 highly cited researchers, representing 25.4 percent within Australia and 40 percent $383.6m of the Go8. The number of highly cited researchers at UoM has doubled since 2010. 025

Research collaboration

Collaborations improve the quality, scale The University of Melbourne maintains a wide focused research communities that build and impact of research outcomes, increase range of affiliations with research institutes on existing strengths across the University, the likelihood of major breakthroughs and that support the collaborative process. are broader in scale than existing research diversify sources of research income. For groups, have a distinctive multidisciplinary For a full list of affiliates please visit our research partners, collaborations provide emphasis, are in selected areas seen as a website: http://about.unimelb.edu.au/ access to leading scholars and new priority for the University, and that identified governance-and-leadership/affiliates thinking. The Research@Melbourne strategy significant potential to harness cross- emphasizes researcher-to-researcher University capabilities to open up new and institutional-level collaborations with HALLMARK RESEARCH INITIATIVES targeted funding opportunities. strategic partners. National and international Four initiatives were launched in August trajectories in the evolution of disciplines In 2014, to complement other strategies 2014: Disability Research, Indigenous and the growing focus on demonstrable facilitating collaborative research, especially Research, Materials Research, and research impact has focused attention across academic division boundaries, the Computational Biology Research. on larger scale, team-oriented research, university established a portfolio of mid-sized Proposals for two further initiatives – and on multi and interdisciplinary research. research networks, titled Hallmark Research Initiatives. The Hallmark Research Initiatives Ageing Research and Improving Children’s are intended to enable the maturing of Lives – were endorsed by the University Executive in December.

Interdisciplinary research institutes The University maintains a comprehensive MELBOURNE ENERGY INSTITUTE (MEI) Florey, Austin Health, Melbourne Health research base across a broad range of and the University of Melbourne. In 2014 the disciplines. The comprehensive approach Working in partnership with faculties including MNI commissioned the Siemens 7-ultra-high provides a critical advantage in tackling Business and Economics, Law, Engineering, field Tesla human MRI. The new machine diverse research questions from a range Science, Architecture, Building & Planning offers unprecedented clarity in the imaging of perspectives while maintaining our and Arts, MEI has continued its program of of brain structure and function, enabling preparedness for unknown challenges expanding the University’s energy research better understanding of dementia, stroke, and opportunities. The interdisciplinary portfolio. It has progressed research in areas multiple sclerosis, epilepsy, post-traumatic Melbourne Research Institutes bring together such as energy market design, renewable stress and other neurological disorders. researchers from across the University to energy integration, energy storage mechanisms, the ethics of renewable tackle key societal issues and challenges MELBOURNE SOCIAL EQUITY in innovative ways. Alongside the provision energy, direct geothermal energy, future of world-class facilities and leadership in grid scenarios and sedimentary basin INSTITUTE (MSEI) areas of strategic importance at both management. The Institute’s engagement In 2014 the MSEI spearheaded the local and international levels, these with international research group the Basin establishment of a partnership with Scope Institutes provide support for research GENESIS Hub was a highlight in 2014. Victoria, the country’s largest disability service and researchers, creating opportunities The Hub will receive $5.4 million dollars provision organisation. The appointment of through workshops, seed funding, support of funding over five years, $1 million of which a professorial fellow in 2015 will assist the for PhD student cohorts, facilitation of will be used to build University of Melbourne University to better align its research agenda partner engagement and publications. capability. Led by new R@MAP Professor with the needs of the community and sector. Louis Moresi, using big data sets and The MSEI Doctoral Academy was launched INSTITUTE FOR A BROADBAND increased computing power, the Hub in 2014 to support (post-confirmation PhD) ENABLED SOCIETY (IBES) will model interaction between processes students through peer-learning opportunities on the earth’s surface and deep below in and mentoring from experienced academics. Under the leadership of new Director, five dimensions. This new technology will It exposes doctoral students to different Professor Thas Nirmalathas from the vastly improve understanding of the complex disciplinary perspectives and research Department of Electrical and Electronic interplay between surface and deep earth methodologies that will enhance their own Engineering, IBES has continued to build processes with significant applications for research. The MSEI hosted and engaged awareness about broadband and the benefits the energy sector. arising from connectivity to society through in an extensive range of activities and continued community engagement. IBES collaborations during 2014, including its continues to develop opportunities for MELBOURNE NEUROSCIENCE inaugural conference ‘Imagining Social research collaboration with local, national INSTITUTE (MNI) Equity’, as well as lectures, roundtables and international partners and, in particular, and workshops on refugee and asylum in 2014 has expanded its Industry The MNI’s public engagement program has seeker matters, international law, human Partnership program through agreements grown exponentially. Its community of over rights, language rights and identity, mental with MediaLink and JetBrains. 550 affiliates attended a range of educational health and disability policy and programs. activities, seminars, tours and symposia. MNI continues to collaborate productively with its principal partner, the Florey Institute of Neuroscience and Mental Health and leads the University’s engagement in the Melbourne Brain Centre, a partnership between the 026 ANNUAL RESEARCH REPORT 2014

MELBOURNE SUSTAINABLE MELBOURNE MATERIALS MELBOURNE SCHOOL OF SOCIETY INSTITUTE (MSSI) INSTITUTE (MMI) GOVERNMENT (MSoG)

Brendan Gleeson, Professor of Urban Policy Recognising the value and breadth of the Since its establishment in June 2013, Studies at the University of Melbourne was Melbourne Materials Institute’s achievements MSoG has been involved in 17 research appointed to a four-year term as Director of and as part of the evolution of University projects with 37 partner organisations MSSI in early 2014 following the retirement strategy regarding internal research across its four main research themes: of inaugural Director, Professor Craig investments, from mid-2014 the MMI governance and performance; knowledge Pearson. MSSI Research Fellow, Dr Graham transitioned to be one of the inaugural and expertise in public policy; security Turner, made headlines with his research Hallmark Research Initiatives, the Materials and political engagement; and governing vindicating the predictions of the 1972 Research Initiative. markets. MSoG hosted a number of book Limits to Growth and other MSSI activities in the lead-up to the G20 Summit Many activities initiated by MMI have been researchers provided media comment on in Brisbane in November 2014. 2014 has taken over by the Materials Research Initiative a wide range of societal issues including also seen it host to nine visiting fellows and which provides a portal into the University, Urban Futures, Emission Reduction, Disaster winning various awards and grants including conducts researcher networking events Management, Sustainability, Climate Change a prestigious International Research Award and is initially focusing on strengthening and Melbourne’s East-West Link. Working and an Australian first: the Jan Kooiman Prize collaborations in selected research themes. with the Future Melbourne network, MSSI for research in the field of organisation The research infrastructure platform has partnered with the Melbourne Social studies and governance. program piloted by the MMI will continue Equity Institute and various sponsors from to be supported under the University industry and the community sectors in of Melbourne’s Collaborative Research developing the Future Melbourne Forum Infrastructure Program. Series – Putting big ideas into action. This series offered a bold response to the ‘Plan for Melbourne’ released by the Victorian government on 1 January 2014.

External engagement

As a fine research institution, Melbourne Over the course of 2014, the University »» in partnership with the federal government, seeks to harness the strength, breadth continued to develop a Research sustaining the Melbourne Institute’s and depth of its research to help meet Partnerships Framework to guide long-term household-based ‘Living global challenges. In helping to resolve institutional-level research partnerships in Australia’ study (HILDA) world problems, the University maintains and is actively exploring new partnerships. »» developing vaccines with CSL Ltd its public-spirited essence by giving back One such partnership is with the Department »» enhancing food taste for expanding Asian to the community real outcomes and impact. of Environment and Primary Industries markets, with Mondelez International (DEPI). The University has had a large Such engagement is fostered by a number number of research collaborations with »» shaping social inclusion and poverty- of important multi-disciplinary partnerships DEPI, and in 2014 became a partner prevention policies with the Brotherhood which reach across the whole of the of the Horticulture Centre of Excellence of St Laurence University. These Institutional Partnerships located in the Goulburn Valley. »» carbon capture research supported now number eight and include partnerships by Rio Tinto with IBM, the Department of Health (DH) and the Department of Human Services »» developing energy-efficient telecommunications with (DHS), and Museum Victoria. In 2014, the Examples throughout the year of Alcatel Lucent Bell Labs and exploration of cognitive computing with how Melbourne’s research activity has IBM provided many exciting opportunities given back to the community include: »» advising foreign governments on including health, education and small plain tobacco packaging legislation business. The Melbourne Museum »» research to improve crop partnership saw the development of productivity with the Rural Research a number of multi-disciplinary research and Development Corporations projects focused on enabling the Museum’s »» working with Dairy Innovation Australia Ltd Each of the projects highlighted, collections to flourish while bringing together to improve dairy manufacturing in Australia and countless others, provides a new scholars from the humanities and sciences. »» developing genomic diagnostic tools understanding of issues and add to the The DH and DHS partnership continued with IBM Australia nation’s innovation and competitiveness. to make meaningful impact on the delivery They demonstrate the depth and breadth »» creating natural user interfaces of health services in the northwest region with computers for Microsoft of Melbourne’s researchers as they engage of Melbourne. across all sectors, from the not-for-profit »» researching how to most effectively to the health sectors, to government and teach school level maths industry in its widest sense. 027

Research precincts

Research precincts offer outstanding This successful Biomedical Precinct is now featuring a mix of internal and external opportunities to leverage collective research being emulated through the Carlton Connect stakeholders from academia, business capacity and resources with partners. Initiative, a University project to foster a new and government. The conference attracted innovation and entrepreneurship precinct a large number of local and international At Parkville, the University currently on the Carlton side of the main campus. delegates across various sectors and is serves as the dynamic hub of the Melbourne The initiative continues to gain momentum expected to drive a significant amount Biomedical Precinct – the largest cluster of and profile as it seeks to give new life to of researcher – industry engagement. An medical researchers in the nation. Through the former Royal Women’s Hospital site. Early Career Researcher cohort recruited initiatives such as the Doherty Institute for This year saw the completion of the first to facilitate the organisation of the conference Infection and Immunity, the Melbourne Brain stage of site redevelopment, the ‘Lab 14’ gained valuable experience engaging with Centre, and the Comprehensive Cancer building on the corner of Grattan and the external community. Centre, the University is deeply involved Swanston streets, alongside an extensive with the precinct partners, such as the Walter consultation process with key stakeholders and Eliza Hall Institute, the Bio21 Molecular including the local community, state and Science and Biotechnology Institute, Peter local government authorities to facilitate “An innovation precinct MacCallum Cancer Institute, the Florey the rezoning of the whole site for future use. should be the focus of new Institute of Neuroscience and Mental Health, the Murdoch Children’s Research Institute, Efforts to foster research collaboration industries and new talent – Melbourne Health, and the many hospitals in the precinct also continued. To date $3 the next generation of business in the area, striving to find ways to improve million has been invested across a range the health of Australians and to discover of research projects that focus on Carlton leaders and entrepreneurs new treatments and procedures. Across Connect’s themes: Energy, Urban Futures, who have at their disposal the Melbourne Biomedical Precinct some Food, Water, Risk and Resilience, Social 10,000 scientists, clinicians and technical Equity, Pervasive Information, Innovation all the resources needed staff are engaged either in undertaking and Entrepreneurship and Climate Change. to create new industries biomedical and healthcare research, teaching The project’s international connections were or spin-off companies, and and research training, or in supporting these boosted by the launch of the University of activities. Drugs, vaccines and devices Melbourne’s first EU Centre for Complex to support innovation in are developed in collaborations between Shared Challenges in August 2014. the broader community.” researchers and industry. Clinicians working The depth and breadth of the innovation in both labs and hospitals rapidly translate community around the University was on Growing Esteem 2014 – their research into practice. Students are show at the Carlton Connect Conference, Discussion Paper trained in the most applied of environments. which ran from 30 September to 2 October,

FOOD UP! TEAM HEADS TO LISBON

A team of University of Melbourne The creative team of Food Up! members are Their idea is that once plants are students is heading to Lisbon with University of Melbourne graduate students flourishing in the soil created from their innovative Food UP! System from different backgrounds, different nations an organic composter at the base to compete in the international and different faculties, united by their of a Green Tower, growers will swap Thought for Food Challenge. wish to enact social change, encourage produce to meet their needs. In the sustainability and future food security. words of the team, a grower ‘wonders Food UP! is a small-scale vertical farm Shari is a US/Australian masters student if anyone in their neighbourhood is designed to produce food and recycle in the Faculty of Veterinary and Agricultural interested in swapping two spare lettuces organic waste, supported by a food- Sciences. Doris is a Dutch PhD student for some herbs. They grab their phone swapping mobile App. The farm’s and Farzad an Iranian PhD student, both and log in into Food SwApp, take a Green Tower requires only one square in Computer Science in the Faculty of IT picture of the lettuces and put them meter of space, doesn’t need electricity and Engineering. Davide is a Swiss/Italian on offer. The grower finds a match and is ideal for urban environments. PhD student in Marketing in the Faculty within 500 metres! Another user is The Thought For Food competition of Business and Economics and Vincenzo looking for lettuce and has a lot aims to bring together young, talented is a PhD student in Education and of rosemary and parsley to swap!’ university students across the world Psychology in the Melbourne Graduate to formulate solutions to the pressing School of Education. global problem of food security. 028 ANNUAL RESEARCH REPORT 2014

Students at Wombat Flux Tower mega-research site

Excellence in TRAINING PROGRAMS Strong research training programs contribute with the event being streamed live to research training to the research outcomes of the University, viewers in Japan, Hungary, Hong Kong while preparing future academic staff and New Zealand. The University is a national leader in and encouraging the next generation producing excellent, well-rounded graduate »» Support for overseas travel was available of innovators and leaders for industry researchers prepared for a diversity of via the Melbourne Abroad Travelling and professional careers. research careers. In turn, Melbourne’s Scholarships and Overseas Research research endeavours benefit from In 2014 a number of innovative programs Experience Scholarships. A total of the energy and talent of its graduate were offered to students: $305,605 in travel funds benefited research community. 169 graduate researchers. »» The Specialist Certificate in Teaching The latest comparative data (2013) indicates for Graduate Researchers ran for its Following the successful introduction of the that the University had more than 5000 second year, with delivery increased Graduate Research Supervisor Registration graduate researchers, a graduate research to twice yearly due to the popularity policy in 2013, a further 482 graduate degree full-time equivalent load of 3316, of the course. The program is a 25-point research supervisors have been trained. and achieved 744 completions, which specialist certificate for doctoral candidates Training included use of the live webinar represents 8 percent of all national engaged in teaching activities and who are format for the first time. Development of graduate research completions. considering an academic teaching career an online training module is planned for following their PhD. 2015 to further service supervisors not The University maintained the previous located at Parkville. year’s graduate research degree »» The award-winning Thesis Boot Camp commencements at 1100 students. continued for its third year with three International commencements continued more camps involving 126 participants. GRADUATE MANAGEMENT to comprise 33 percent of total Thesis Boot Camp includes motivational, commencements. goal-setting and strategy sessions, and The Melbourne School of Graduate offers collegial support. Research was formally disestablished as The University reaffirmed its commitment »» Start-of-Career Researchers Workshops at 31 December 2014 as part of functional to increase the international graduate have continued to grow since first offered and structural changes being made under researcher cohort through the International in 2011. Two hundred and sixty ‘start-of- the University’s Business Improvement PhD Scholarship Fund, which supported career’ researchers (six months prior to Program (BIP). Functions and services an additional 200 international PhD PhD submission and up to two years currently offered by MSGR are being commencements in 2014. after graduation) have participated in the transferred across the University. Faculties In 2014, graduate researchers at the workshops since 2011. Participants report will continue to play an important role in University were awarded 347 Australian that the course delivery has inspired them candidate management. Graduate research postgraduate awards and 33 international and given them the confidence to clarify admissions, candidate management support, postgraduate research scholarships, their career goals and aim to achieve them training for graduate research administrators, worth more than $30 million in support. earlier than they otherwise might. and thesis examination moves to Academic Services within University Services. The Funding from the Research Training Scheme »» The 3 Minute Thesis Competition (3MT®) Melbourne Centre for the Study of Higher of $71 million was the highest nationally. provides graduate researchers with the Education takes over the delivery of research opportunity to gain valuable experience, training and professional development for confidence and to improve their graduate researchers, and Chancellery will presentation skills in a highly focussed be responsible for setting graduate research environment. Over 250 people attended strategy and policy. the 3MT® Grand Final in September, 029

Research infrastructure DOHERTY INSTITUTE FOR In 2013, the University began an investment in October 2014 and is currently producing of more than $11 million over three years research data for inclusion in submissions INFECTION AND IMMUNITY in the Stage One funding of the Melbourne to major grant rounds in 2015. Collaborative Research Infrastructure Further shared and cooperative facilities Program (MCRIP). The Program provides will be made possible by ARC Linkage, infrastructure to support research areas Infrastructure, Equipment and Facilities Australia’s capacity to play a demonstrating substantial critical mass (LIEF) grants. The University led six lead role in the global response and cross-faculty collaboration. It looks successful grants and participated in 13 to known and emerging infectious to maximize the benefits of research successful non-lead grants, investments diseases was boosted enormously infrastructure investment within the from which intend to either establish new with the launch of the Doherty University by taking a holistic view of or add capacity to existing facilities for Institute, opened by Prime Minister researcher access to platforms, operational open access by the research community. Tony Abbott in September. The sustainability, information management Included in the list of University procurements Institute, named after University and quality assurance. Acknowledging resulting from this success is equipment Nobel Laureate Professor the importance of technical specialists that will significantly enhance the University’s Peter Doherty, is a $210 million in fully leveraging the benefits of platform cytometry, mass spectrometry, microscopy, partnership between the University capabilities, the Program currently supports and genomics platforms. and the Royal Melbourne Hospital. more than 40 FTE platform staff within the University, across a diverse range Throughout 2014, the Melbourne Research The 10-storey, state-of-the-art of technologies and research disciplines. Division represented the University’s growing building in the heart of the Melbourne list of platform technologies in a number of Biomedical Campus will house In 2014, the University welcomed a number engagement forums that included research more than 700 health professionals of new research infrastructure investments conferences as sponsors, Victorian Platform developing new ways to track, shared with the external research community. Technology Network events and business diagnose, treat and prevent the world’s Most notable is the 7 Tesla Siemens development networking events. Supporting most significant infectious diseases. Magnetic Resonance Imaging (7TMRI) these activities, the University developed and system commissioned by the MCRIP- Inaugural Institute director Professor launched the research infrastructure website supported Whole-body Bioimaging Platform. Sharon Lewin said ‘the establishment and published a brochure highlighting Jointly funded by the National Imaging Facility of the Doherty Institute will transform the technological capabilities within the through the Commonwealth’s Education infectious diseases research, training University. Both the website and the print Investment Fund (EIF), the University of and care in the Australian, regional brochure have led to a number of new Melbourne and the Florey Institute, the $10 and global health communities’. interactions between University platforms million system is one of only two in Australia. and researchers within academic and The 7TMRI accepted its first pilot projects commercial sectors.

THE COMPARATIVE DATA FROM 2013 INDICATES THAT THE UNIVERSITY HAD OVER Looking ahead

In 2015 the University will continue training offerings that enhance the student GRADUATE its focus on the implementation of the experience. The University will continue 5000 RESEARCHERS, Research @ Melbourne Strategy. This to focus on increasing the impact of its includes ensuring the University’s research research in the broader community by a graduate research degree full-time is of the highest quality and makes a establishing and enhancing partnerships equivalent load of 3316 and achieved difference. The University’s submission and collaborations with industry, government 744 completions, which represents to the 2015 Excellence for Research in and community organisations, locally and 8 percent of all national graduate Australia (ERA) will be a critical activity globally. It will endeavor to create a system research completions. over the first half of the year. Flagship of innovation around sustainability and Grand Challenge initiatives, including energy issues through the Carlton Connect the Carlton Connect Initiative, the Initiative, with a particular emphasis on Melbourne School of Government and nurturing new industries and the next the Interdisciplinary Research Institutes generation of business leaders and % will be priorities, along with research entrepreneurs in the system. 8 030 ANNUAL REPORT 2014

Students and learning

The University of Melbourne’s educational experience prepares well-rounded graduates who are academically outstanding, practically grounded and socially responsible. Melbourne’s graduates are distinguished by their broad outlook and openness to different perspectives. They are encouraged to take on roles as leaders in communities – to be active global citizens attuned to diversity.

The Melbourne Curriculum, introduced in 2008, underpins this educational experience. Six broad undergraduate programs are followed by professional qualifications offered at Masters level. In 2014 the University continued to refine and consolidate the Curriculum. Ongoing monitoring of performance and outcomes ensure it is delivering on its goals. Meanwhile the University is taking advantage of emerging digital tools to develop technology- enhanced teaching and learning opportunities for Melbourne students. In addition the University, through its suite of Massive Melbourne students Open Online Courses (MOOCs), gives thousands of students volunteer at the 2013 around the world access to the University’s outstanding University Open Day academic and teaching expertise.

STUDENTS AND LEARNING HIGHLIGHTS 031

Undergraduate Postgraduate STUDENT ENROLMENTS TOTAL STAFF 42,653 8,075 51% 49%

Student total

INTERNATIONAL STUDENTS % 13,193

RHODES SCHOLARSHIPS

TOP 50 3 Melbourne students were awarded Rhodes Scholarships in 2014 (see page 19).

POSITIONED  1 FOR SUCCESS PREFERENCE Number one preference for Undergraduate students studying Arts, Science, Commerce and Biomedicine.

2014 SUBJECT EXPERIENCE SURVEY (SES)

The 2014 Subject Experience Survey (SES) indicated continued improvement in students’ satisfaction with the University’s measure of quality of learning and teaching. All of the University’s eleven faculties met the University’s target for Subject Delivery and Student Learning. 032 STUDENTS ANNUAL AND LEARNING REPORT 2014

Demand Within an increasingly competitive The appeal of the Melbourne Curriculum remains strong, with 16% and 4% of the environment, the University’s market is evidenced by continuing demand from state and national student market share standing remains strong, with 16% domestic and international students. Over respectively. The University’s international the last five years, the number of students student profile has remained broadly and 4% of the state and national has grown at an average year-on-year constant over recent years, comprising student market share respectively. rate of 4%, increasing over 6000 EFTSL to 29 percent of EFTSL in 2013, exceeding reach 42,653 in 2014. At the same time the other universities’ international student quality of the student intake has remained growth. In 2014 enrolments increased very high with the median ATAR steady at to 31 percent, affirming the University’s 94.25. Within an increasingly competitive standing abroad. 16% environment, the University’s market standing

International student enrolments

Student % Enrolments 2010 2011 2012 2013 2014 4 (EFTSL)

Total Load 36,619 36,843 38,243 40,445 42,653

International Load 10,143 10,159 10,652 11,705 13,193

% International Load 28% 28% 28% 29% 31%

31%

IN 2014 INTERNATIONAL ENROLMENTS INCREASED TO 31 PERCENT, AFFIRMING THE UNIVERSITY’S STANDING ABROAD 033

In 2014 the University again experienced years, four of Melbourne’s undergraduate strong demand for undergraduate courses. degrees were in the top ten most popular VTAC data showed an increase in the degrees according to the Victorian Tertiary number of first preferences, while the Admissions Centre (VTAC) first preference sector remained steady. Clearly-in ranks rankings (see table below). The Bachelor increased across almost all bachelor of Arts continues to be the most popular degrees. Continuing the pattern of recent course for domestic students.

2014 most preferred courses based Data: VTAC Popularity Polls (Final) on VTAC CSP first preference ranking

Course rank

University 2014 No of 1st of Melbourne 2010 2011 2012 2013 2014 preferences Course

Arts 1 1 1 1 1 2938

Science 3 2 3 2 2 2543

Commerce 4 4 4 4 4 1543

Biomedicine 7 7 7 6 7 797

* Domestic and international current year Median 12 students enrolling in current year (includes Undergraduate ATARS those returning from a previous year’s deferral)

Median ATAR 94.25 95 94.25 93.9 94.1 93.9 93.8 94 93.1 93

92

91

90

2008 2009 2010* 2011* 2012* 2013* 2014*

Enrolled 034 STUDENTS ANNUAL AND LEARNING REPORT 2014

There was also strong demand at the graduate level, with the number of graduate coursework enrolments increasing by 19% from 2013.

Graduate coursework applications *Higher Degree Coursework AF = Australian fee paying place and enrolments 2013–2014 OF = Overseas fee paying place CSP = Commonwealth supported place

OF AF CSP

2013 2014 %+- 2013 2014 %+- 2013 2014 %+-

HDCW* applications 11,160 13,155 18% 6,304 7,064 12% 6,782 7,781 15%

HDCW unique applicants 9,457 11,460 21% 5,622 6,276 12% 6,074 6,846 13%

HDCW enrolments 3,196 3,802 19% 3,132 3,387 8% 3,127 3,291 5%

When the Melbourne Curriculum was introduced, Melbourne was a predominantly Quality courses Breadth undergraduate university. Only 28% of In 2014 the University continued to refine Melbourne undergraduate degrees students were enrolled at graduate level. and consolidate the Melbourne Curriculum, combine disciplinary depth with intellectual The University’s Growing Esteem strategy monitoring performance and outcomes breadth to provide students with a well- predicted that over time, as the Melbourne to ensure it is delivering on its goals. rounded education. Every undergraduate Curriculum was fully implemented, the student takes breadth subjects which undergraduate student and graduate student expand the focus of their studies and load would equalise. In 2014 maturation provide appreciation of different ways of the Curriculum saw that forecast become of learning. University breadth subjects reality with 51% undergraduate and 49% are interdisciplinary, taught collaboratively graduate enrolments. by different teaching departments and examine contemporary social issues from multiple perspectives. Of the hundreds of breadth subjects offered in 2014, economics, law and biology subjects were the most popular amongst students.

MOST POPULAR BREADTH SUBJECTS FOR 2014 % increase in graduate » Economics 19 enrolments from 2013 to 2014 » Law » Biology 035

RICE HUSK GRIST TO THE CEMENT MILL: Edward Brelsford, NEW STUDENT-DEVELOPED TECHNOLOGY Kareem Sultan and Carl Muir Photo by Peter Casamento

Students from the University The students developed an experimental and other infrastructure leaves a hefty bill of Melbourne have developed device allowing them to determine the and a vast carbon footprint in its wake. a revolutionary machine to create most efficient way to grind rice husk ash, By using rice husk ash as an ingredient low-cost, environmentally sustainable a waste product from rice production, for concrete, less cement or ‘glue’ building materials, which is expected creating an alternative, highly-sustainable would be needed to construct buildings, to have substantial applications in ingredient for concrete. The innovative reducing the infrastructure’s impact on developing countries. concept won the 2014 Endeavour the environment. As a waste product that Sustainability Prize, as well as the The Rice Husk Ash Grinder was is plentiful in South-East Asia, use of the Departmental Prize for Mechanical developed by Edward Brelsford, material will empower communities in Engineering. Simon Liley, Kareem Sultan and developing countries to cheaply and Carl Muir as their final-year project. Of the materials used most in the sustainably develop infrastructure. These projects enable student teams world, concrete is second only to water. ‘Instead of seeing rice husk ash as to put the theory of their studies into The fundamental building material is a waste product, we can use it in practice in order to create unique typically held together by cement, which the construction of buildings across solutions to real-world problems. is produced through consumption of Asian countries,’ says team member a large amount of energy. This means Kareem Sultan. the production of concrete, buildings 036 STUDENTS ANNUAL AND LEARNING REPORT 2014

STUDENT OVERALL POSITIVE EXPERIENCE Approvals and reviews to strengthen the Melbourne Curriculum

The Melbourne Curriculum provides flexible A review by the Centre for the Study learning pathways catering to a wide range of Higher Education found all University of needs and aspirations which enable of Melbourne Masters (Coursework) % students to equip themselves for leading and Masters (Extended) programs roles in the communities and workplaces to be compliant with the Australian 78 of the future. Each year the Academic Qualifications Framework. Programs Committee (APC) of the Academic Since 2011 the University has benchmarked Board reviews proposed changes to courses the quality of individual subject offerings to ensure they are consistent with the aims against Australia’s leading universities of the Melbourne Curriculum. In 2014, through the Group of Eight Quality Verification APC approved 51 new courses, 112 System (QVS). The QVS provide public major changes to courses, 106 award In 2014 the MES showed assurance that academic standards are title changes, nine course suspensions, that 78 percent of students comparable with world-leading universities. and 188 course discontinuations. reported an overall positive To date the disciplines of Accounting, experience at the University. An ongoing cycle of reviews assures Chemistry, Economics, History, Philosophy, the quality of student processes, Physics, Psychology, Geology, Sociology and programs, administrative and academic Political Sciences have now been assessed. units. During the year a coordinated review During the year, a comprehensive policy of entry and application requirements for review and consolidation exercise was all undergraduate, graduate, coursework STUDENT SATISFACTION WITH commenced as part of the Business and research programs was undertaken STUDENT CENTRE ADVISING Improvement Program (BIP). The with the aim of simplifying and streamlining simplification and strengthening of crucial selection criteria, practices and processes. student-related policies and processes Other reviews in 2014 include: were a priority. Processes for special »» a review of intakes into the University’s consideration and enrolment will be made graduate schools and honours programs easier, quicker and more convenient for students to complete. RHD candidature »» reviews of the Melbourne School of Land % management will be streamlined and the and Environment, Melbourne Graduate process for course and subject approvals 75 School of Education, the Melbourne will be simplified. Business School and the Bachelor of Commerce (Honours) Development of a new Academic »» completion of review of the Bachelor of Appointment, Performance and Promotion Biomedicine and the Bachelor of Science Policy commenced, for completion in 2015. The revised policy will simplify and improve »» progress reports on reviews of the Satisfaction with Student the responsiveness of approval processes, Master of Teaching and the Melbourne ensure an appropriate assessment is made Centre Advising is at Law Masters course reviews commenced of appointments and promotions, and 75 percent, representing in 2013. a substantial increase provide flexibility for faculties within the over the last three years. University framework. 037

Physiotherapy students in clinic

STUDENT SATISFACTION WITH Student satisfaction ACADEMIC STAFF ADVISING Student satisfaction is a core measure 2014 indicated continued improvement for Teaching and Learning. in students’ satisfaction with the University’s measure of quality of learning and teaching. According to the 2013 Course Experience All of the University’s eleven faculties met the Questionnaire (CEQ), the University’s University’s target for Subject Delivery and undergraduate overall satisfaction is Student Learning. at the sector, Go8 and Victorian average, % reflecting gradual improvement over The Melbourne Experience Survey (MES) 81 the years, though lagging the rate of gauges student perceptions of all aspects improvement seen in the sector. The of University life. In 2014 the MES showed University’s graduate overall satisfaction that 78 percent of students reported an leads all Victorian and Go8 institutions overall positive experience at the University. and places Melbourne third nationally. Satisfaction with Student Centre Advising is at 75 percent, representing a substantial The Subject Experience Survey (SES) increase over the last three years. Students’ examines students’ perceptions of their % satisfaction with Academic Staff Advising teaching and learning experiences in was 81.1 percent, up from 69.8 percent increase University subjects. The SES results in 16 in the previous year. Students’ satisfaction with Academic Staff Advising was 81.1 percent, up from 69.8 percent in the previous year.

Graduate outcomes

The most recent Graduate Destination discussion papers. These place a heavy internship or participation in international Survey (GDS) identified that rates of emphasis on increasing structured transitions projects. Students will be assisted to employment for both the University’s to employment by embedding experiential better understand and articulate the undergraduate and postgraduate students opportunities into all student pathways. value of experiences such as part-time have fallen, as they have across the sector Research projects, industry and work- work or volunteering and connection more broadly since 2010. In the context relevant projects, entrepreneurship, to employment outcomes. of a poor labour market, and the impact of volunteering and career guidance can A revised integrated model of delivering Melbourne graduates entering the workforce bridge learning and practice to improve careers and employment services to after five instead of three years, improving the employment outcomes. students across the University introduced employability outcomes of students is Another important focus is to differentiate during the year will allow for a more a major priority for the University. Melbourne students by ensuring they coordinated approach. Strategies for improving employability have the opportunity for an international outcomes for students are captured variously experience, whether through study in the University’s strategic plans and abroad, work-integrated learning, 038 STUDENTS ANNUAL AND LEARNING REPORT 2014

Rewarding excellence 80 STAFF The quality of student learning is relevant experiences that help music COUNTRIES underpinned by excellence in teaching. students see the connection between University academics gained national research and performance. recognition for the quality of their teaching, »» Ms Bronwyn Tarrant: For excellence At least 80 countries with four Citations for Outstanding in the development of curricular and were represented Contributions to Student Learning e-Learning resources to bridge the in each of the MOOCs. were awarded to University staff by theory-practice gap in nursing education. course enrolments. the government’s Office for Learning and Teaching (OLT) in 2014: A full list of the awards and achievements of the University’s talented staff and »» Associate Professor Jennifer Hayes: students can be found in on pages For sustained excellence in developing 15–19 of this Report. innovative approaches to students’ learning and engagement in clinical In 2014, as part of a new integrated anatomy. honours and awards framework, the »» Associate Professor Andrew Melatos: University established the Redmond Barry For sustained impact in physics Distinguished Professor Award to attract and postgraduate supervision, distinguished retain high-performing academic staff. The by a 100 percent completion rate award recognises pre-eminent leadership in and prestigious peer-reviewed articles, major University initiatives for the University, international prizes, and ‘knowledge pre-eminence in research or creative activity economy’ jobs for graduates. or pre-emininece in research and teaching. THE TOTAL MOOC STUDENT »» Dr Melanie Plesch: For sustained ENROLMENT FOR 2014 WAS commitment to fostering a culture of research-led performance by creating 642,025

eLearning Digital technologies are transforming ELEARNING AND MOBILE LEARNING the way education is delivered, accessed and supported. Securing recognition as Over the past three years the Learning a premium, international, online education and Teaching Initiatives Fund has funded provider is a strong strategic priority a number of projects designed to improve for the University. During the year the the student experience of online learning. University continued to pursue three clear The challenge is to create courses blending operational foci in the area of eLearning excellent face-to face teaching with and online learning: interactive online learning. »» the development of blended programs The most exciting developments in the integrating a range of eLearning field use online technologies to support and mobile learning applications project work, case studies and student-to into existing curricula; student communication. The University »» the development of a portfolio of Massive has developed an eLearning incubator Open Online Courses (MOOCs); and to test and extend these techniques. New methods include early trials of the ‘flippped » the planning and development of » classroom’ where foundation course content a suite of premium quality wholly is delivered online. This frees the classroom online graduate courses. for exchanges that are more stimulating and relevant to individual students. 039

The projects funded combine a powerful to offer MOOC courses using the Coursera answered and comment posted by students mix of technological developments and platform. The immediate global uptake can be tracked, mined and analysed to learning analytics to support and enhance was astonishing. In 2014 six of the initial better understand how students are learning existing courses, to design innovative new seven courses were offered for a second online. Researchers are able to capitalise courses and to enhance student interaction time and four new courses were introduced. on the big data sets generated by the tens with the University. Again, the uptake was immense, bringing of thousands of MOOC students to uncover the total MOOC enrolment for the University productive and unproductive patterns Many of these eLearning projects – their to 642,025 students. Students from at least of learning behaviour. Results will inform design, implementation and impact on 80 countries were represented in each development of future courses and digital students – were displayed at the Innovation course and there were significant increases learning environments. and Excellence in Learning and Teaching in the number of students from China and Showcase held this year. Projects covered India. It shows there is a global audience a range of innovation themes, including GRADUATE ONLINE – MELBOURNE for the university’s high quality education. the flipped classroom, using technology to provide student feedback, the use In 2014 the University offered more Melbourne has made significant progress of inquiry-based learning, simulations opportunities for students to engage in in developing capacity for the design, and mobile app development. ‘signature track’ where they could, for a small development and production of wholly fee, gain a verified certificate of completion. online courses, capitalising on the expertise gained through production of the first MELBOURNE MOOCS There was an increase of 53 percent from the previous year in students taking up MOOC courses. The focus is on innovative online learning, primarily at graduate level. MOOCs allow the University to reach this option, and students who did enrol out to students around the globe, giving in signature track were significantly more Four graduate courses are planned for access to world-class academic and likely to complete the course successfully. release from the start of 2015, and a further teaching expertise to many who would During the year, the Learning Analytics four courses are at the final stage of review, previously have no means of accessing Research Group was active in examining pending approval. This will be an area of higher education. In 2013 Melbourne the rich data being produced by Melbourne’s growth in 2015. became the first Australian university MOOCs. Every video watched, quiz

Coursera enrolments by country of origin UK 2014 % 4.25 2013 % 2014 % Canada 3.25% Germany Russia China USA 25.80 USA 26.50 3% 2.75% 6.25% India 6.70 India 8.75

UK 4.90 China 6.25

Australia 4.50 UK 4.25

Spain 4.10 Canada 3.25

Canada 3.60 Germany 3

Germany 2.40 Russia 2.75

Portugal 1.80 Spain 2.50

Russia, Greece 1.50 Australia 2 Mexico USA Spain India Australia Romania 1.20 Mexico 0.50 0.50% 26.50% 2.50% 8.75% 2% 040 STUDENTS ANNUAL AND LEARNING REPORT 2014

2600 36% % Access Melbourne 2400 34 33% (AM) enrolments as 2200 40% a percentage of total 2000 offers and enrolments 29% 37% 1800 29% 37% 30% 1600 Offers 30% 1400

0 Enrolments 2010 2011 2012 2013 2014

The Access Connections Widening and mentoring program pairs improving access University alumni with undergraduate Melbourne Melbourne is strongly committed to background and/or rural or isolated areas increasing the representation of students are given the opportunity to enter courses Access Scholarship recipients from disadvantaged backgrounds. The with lower ATARs than the general cohort. who have experienced ongoing University Plan 2011–2014 commits the Provided they meet the course subject University to achieving an annual increase pre-requisites and criteria, students who circumstances which adversely of 10 percent in low SES commencements. received an ATAR of 78 or above are impacted their preparation for The Access Melbourne scheme is of guaranteed a place in the Bachelor of critical importance to achieving this goal. Arts, Bachelor of Science, or Bachelor university study. The program The scheme targets high-achieving of Environments. Those with an ATAR complements other University undergraduate students from low SES of 88 or above are guaranteed a place careers and employment backgrounds, Indigenous students, in the Bachelor of Commerce and those students from regional and remote with an ATAR of 95 or above are guaranteed programs, connecting students areas and students with disability. a place in the Bachelor of Biomedicine. through alumni to professional In 2014, Access Melbourne enrolments An extensive scholarship program assists networks, assisting students increased by 11 percent, bringing the total in increasing accessibility. 155 Melbourne increase over the last four years to 28 percent Access Scholarships were awarded during in navigating career decision- (from 1,435 in 2011 to 1,833 in 2014). the year as well as eight National Equity making and the transition Access Melbourne student completions Scholarships. The University also offered 55 to professional life. over the same period have increased by 37 different types of scholarships and bursaries percent; from 694 in 2011 to 951 in 2014. to students from low-SES and other equity backgrounds, including Indigenous students As part of the Access Melbourne program, and students with disability. students from disadvantaged financial 041

SUPPORTING DISADVANTAGED STUDENTS

In 2014, the University and partners offered a range of programs aimed at engaging Wade Institute to foster the next and supporting disadvantaged students. Many of these targeted secondary students, generation of Australian entrepreneurs encouraging them to continue with their studies and to consider tertiary studies as a future option. Efforts focussed particularly on promoting science, technology, A new Masters of Entrepreneurship will engineering and mathematics (STEM) and on outreach to Indigenous students. be delivered by the University of Melbourne at the purpose-built Wade Institute of Entrepreneurship on the grounds of Ormond College, thanks to a $10 million donation from alumnus Peter Wade. 2014 ACCESS AND Australia has a compelling need for PARTICIPATION PROGRAMS a generation of entrepreneurs who will create new businesses, jobs and wealth to replace those being lost and to provide a broader base to the economy as the mining boom wanes. »» ESTEME, a partnership between the »» Three residential camps were held on University of Melbourne, Collingwood the Parkville campus for Year 11 and The Wade Institute of Entrepreneurship College, the Inner Northern Local 12 and Year 8 and 9 students will offer a practically based, innovative Learning and Employment Network, one-year degree which will produce »» The Community Health Advancement Yarra Education Youth Commitment, graduates who are ‘start-up ready’. and Student Engagement Program and six local primary schools, formed delivering education workshops to The program is the result of collaboration to improve the quality of STEM learning secondary school students in Melbourne’s between the Faculty of Business and and associated outcomes. western suburbs to engage students Economics, the School of Engineering and »» The Strengthening Engagement in health literacy and teach tertiary Ormond College after research showed and Achievement in Mathematics pathways to health professions. 55 percent of University students were and Science (SEAMS) program interested in starting their own businesses. »» An ongoing joint Victorian universities launched at the University in project, Learn, Experience, Access, Behind this substantial gift is successful collaboration with Monash University, Professions (LEAP) program engaging entrepreneur Peter Wade, who says the John Monash Science School low SES students with universities and watching the decline of manufacturing and and the Elizabeth Blackburn School professional communities to demystify heavy industry in his home town, Geelong, of Sciences. This program takes the links between school, higher education and how it has reinvented itself several a two-pronged approach: and professional careers. In 2014, close times to meet the challenges it has faced, – encouraging Indigenous students to 300 events were attended by 11,274 has inspired him to make this significant in early secondary school to pursue students state-wide. Of the program’s 2790 donation to the University. mathematics and science to senior target schools, 71 percent participated. secondary level and into tertiary level; and »» The Residential Indigenous Science “As a world-leading research Experience (RISE) was held for Year 9 – enhancing the engagement of and 10 Indigenous students with a university, we recognise low SES and Indigenous students keen interest in science. Fifty students the centrality of translating in senior secondary mathematics participated in 2014. and science, to increase their discoveries and ideas into achievement in these fields and »» The Access Connections mentoring new products and services their access to university courses program pairs University alumni with in the STEM fields. undergraduate Melbourne Access that will add value to Scholarship recipients who have Australia and the world.” experienced ongoing circumstances which adversely impacted their University of Melbourne preparation for university study. Vice-Chancellor Professor Davis 042 STUDENTS ANNUAL AND LEARNING REPORT 2014

Jindi Worabak dancers on campus

INDIGENOUS STUDENT OUTREACH AND SUPPORT SPECIALISED INDIGENOUS STUDENT STUDY PROGRAMS The University’s Indigenous Student Plan National Indigenous Student Outreach (ISP) 2013–2017 commits the University Program. Activities in 2014 included school to achieving parity in its domestic student visits, residential camps, mentoring, STEM population equivalent to the Indigenous academic enrichment activities delivered proportion of the Australian population to schools in tandem with the Melbourne In 2009 the University introduced by 2050, requiring an annual five percent Graduate School of Education and Ormond the Bachelor of Arts Extended increase in student numbers. In 2014 the College and a forum for principals and degree to assist Indigenous University exceeded this target, recording teachers partnering with the University students who had not obtained a strong increase of 9 percent. Work by in its efforts to increase the number of the results for direct entry into faculties to align their Indigenous Student Indigenous students successfully completing the Bachelor of Arts. A first year Recruitment Plans to the objectives of their secondary schooling and pursuing of bridging subjects helps students the ISP will help to maintain this trend higher education. in future years. transition to tertiary studies. Since Enrichment programs for current students 2009, 60 students have enrolled in The Murrup Barak Melbourne Institute were extended in 2014 to include a sports the degree, with nine completing for Indigenous Development leads program, performing arts program and a their studies. As a four-year full-time Melbourne’s outreach and support for yoga program. A redesigned Indigenous degree, the completion rate for Indigenous students. The Institute’s reach Academic Excellence Tutorial Assistance the Bachelor of Arts Extended is was significantly increased in 2014 through Program was also introduced. expected to increase considerably the introduction of the University’s first over coming years. A parallel Bachelor of Science Extended degree was completed in 2014 for launch in 2015. It is Total Indigenous student anticipated that this program will 2008–2014 enrolments and completions follow a similar completion trend as the Bachelor of Arts Extended, growing the Indigenous science student cohort. 2008 2009 2010 2011 2012 2013 2014 Development of an Indigenous Engineering Pathway was also Enrolments 171 176 207 181 183 207 230 undertaken in 2014. Completions 48 33 45 61 54 58 n/a 043

WIDENING PATHWAYS Diploma in General Studies commencing student numbers The Diploma in General Studies, offering an alternative university entry pathway for rural students, significantly increased 2013 2014 enrolments in 2014. Work was also undertaken on English language course pre-requisites, articulation arrangements Semester 1 Semester 2 Semester 1 Semester 2 into a number of University of Melbourne bachelor degrees and the development Commencing of skills for academic success at University. 4 1 12 5 students

Student experience SUPPORTING STUDENTS TO SUCCEED

Optimising student services and support of student cohorts, to facilitate effective Queueing for registration, information is an ongoing priority. In 2014 the University’s student consultation, input and feedback and advice has long been a source of well-established 13 MELB Contact Centre across all areas of the student experience. frustration for students. Year by year the extended its services to give students The group provided specific feedback on the University is moving as many processes flexibility in how and when they make University’s Business Improvement Program as possible online, enabling students to an enquiry. 13 MELB responded to (BIP) and the delivery of student services, meet their administrative needs anywhere, 204,665 enquiries. while developing a student-written protocol anytime and on any device. This self-service for effective and meaningful student strategy also allows staff to concentrate Early in the year a new, centrally-managed consultation across the University. on managing more complex and Student Reference Group was established, specialised enquiries. including members from a diverse range

SELF-SERVICE INITIATIVES DELIVERED IN 2014 INCLUDE

»» Simplified study plans: enable – Advanced Standing Online Applications be the preferred method for the students to easily see which enable students to apply for credit provision of student photos for all subjects they are enrolled in, towards new studies. students commencing study in 2015. have completed, planned to – Class Registration Enquiry Management take or have withdrawn from. »» Electronic fee information: the forms provide a streamlined approach University commenced emailing »» Streamlined subject selection to management of enquiries on class fee statements, allowing students process: allows students to choose registration related issues. to receive their fee information subjects from the various majors, instantaneously once the census »» International student subject selection: minors, electives and breadth areas. date had passed. Students are also now enables students to enrol in subjects able to access their Statement of and register for classes offshore. »» ‘eForm’ solutions: two additional Fee Liability via the Student Portal, smart forms were introduced. »» MySelfie: an initiative allowing students eliminating the need to visit a student to take their own photos for their student centre or call up for the information. ID card was successfully piloted and will 044 STUDENTS ANNUAL AND LEARNING REPORT 2014

STUDENT WELLBEING AND SUPPORT

ACROSS 2014, SOME The Wellness@Melbourne Program, in As a first step toward increasing the number partnership with UMSU and Melbourne of available beds, during 2014 the University University Sport, delivered a successful entered into a 38-year lease with student Wellness Week in May. Building on housing provider Campus Living Villages for 16,688 the success of its first year, the Safer the construction and operation of a 648 bed Community Program delivered a number student accommodation facility on Leicester STUDENTS GRADUATED of priority campaigns in 2014. A highlight Street. This new facility is scheduled to be FROM THE UNIVERSITY was the #Think before you post campaign complete and open by 31 January 2016. in October encouraging staff and students to consider their online social media WITH OVER STRENGTHENING STUDY SKILLS presence. Activities on RU OK Day raised awareness of the importance of mental To successfully navigate an increasingly health and peer support amongst the data-saturated society, students require an University community. The Chaplaincy advanced set of ‘scholarly literacy’ skills, from 8,000 team were active throughout the year. effective online searching to communicating OF THEM IN In its second year, the Student Connect complex ideas to a variety of audiences. At DECEMBER ALONE Program provided advice to all students, Melbourne the University library is working particularly first-year students, at all degree closely with academic staff to embed levels. The program coaches students scholarly literacy skills into the curriculum to articulate their educational and career for key subjects and streams of study. goals through an understanding of the Almost 22,000 students were exposed to THE LIBRARY HOLDS NEARLY employability and transferable skills they some kind of information literacy training develop both through the curricular and this year. A suite of online resources such co-curricular activities. In 2014, over 3,800 as short videos and annotated study guides individual student appointments were held, provides additional self-help resources to EBOOK with a student satisfaction rating in excess supplement students’ course-based learning. TITLES 800K of 98 percent. Student Connect also During 2014, students from first-year and these are increasingly popular collaborated with Murrup Barak, the Under undergraduates to PhD students were among students. Borrowing of 18 International Program, and the Australia supported in their studies through a suite Awards Program to deliver integrated of programs covering a wide range of study physical items remains at more than support services to their student cohorts. one million transactions per year. skills, academic integrity, English language proficiency and writing in the workplace. INCREASING STUDENT ACCOMMODATION Programs included both generic and targeted workshops, individual tutorials In 2013 University Council endorsed with advisors and academic writing ‘drop-ins’ the Melbourne Student Accommodation with mentors, and a vast range of print Program with the aim of developing a and online resources. minimum of 2,000 accommodation places New programs for 2014 included a full-day by 2020. Safe, affordable and appropriately writing festival, a new workshop series to designed student accommodation with a develop the language skills of research higher level of support to match students’ needs degree (RHD) students from non-English will be a feature of the Melbourne Living speaking backgrounds, a workshop series and Learning Experience. for graduate coursework students in science, Extensive planning toward development and workshops providing strategies for of an appropriate accommodation portfolio students to improve their “English in 10 has commenced, including: minutes a day.” »» A review of student accommodation Feedback for all programs continued to be preferences, overwhelmingly positive, with 98 percent »» Assessment of demand across of students agreeing that individual tutorials all student groups were helpful, and more than 88 percent »» Identification of priority groups agreeing that they were more confident they would be able to complete study »» Identification of suitable University-owned tasks successfully as a result of the tutorial. sites and procurement options. 045

GLOBAL MOBILITY LOOKING AHEAD

The University continues to increase Short-term programs of less than six weeks’ The University will build innovative blended opportunities for students to participate in duration continued to be the most popular learning opportunities into all programs credit-based international student mobility program type amongst students, and these to improve learning experiences and programs and has the largest outbound also increased by just over 10 percent. The learning outcomes. It will develop a suite mobility program in Australia. In total, more most marked increases were with graduate of online graduate programs, building than 2800 students undertook a student students participating in international student capacity in online curriculum delivery and mobility program in 2014 (exchange, study mobility; amongst these students there was development. Improvements to physical abroad, short course, research/clinical a 19 percent increase in short-term study infrastructure will include additional student placement). While the growth of participation overseas and a 24 percent increase in those accommodation and new learning spaces slowed somewhat, the number of students completing an exchange. The breadth of that reflect the needs of digital education. who undertook a semester or year-long destinations chosen was similar to those in For undergraduates, the learning experience exchange at a partner institution on 2013, with students attending 138 different will extend beyond the campus through exchange increased by more than ten institutions around the world. global mobility. For graduates, the focus percent to 730. will be on increasing access to more structured work experience.

MU SPORT Ernie Cropley Pavilion, Photo by James Broadway

In another great year for MU Sport, culmination of 4 years of painstaking work across 31 universities, and Melbourne the most anticipated event was from concept to opening. Fittingly, the led the Go8 for student participation the official opening of the Pavilion University Blacks AFL team subsequently with over 400,000 visits in 2013. Refurbishment in September. Renamed won their first VAFA Premier A flag in The University supported 240 student the Ernie Cropley Pavilion, the building 30 years. elite athletes in 2014 with 43 earning was officially opened by His Excellency In 2014, the first University Sport selection in a national sporting team. the Honourable Alex Chernov, Governor Benchmarking Project was conducted of Victoria. The $6.7M project was a 046 ANNUAL REPORT 2014

Engagement

By addressing the wider world, Melbourne can be ranked among the finest universities, with research, learning and teaching and engagement that is tightly bound and mutually reinforcing.

In short, engagement with the wider society is core to the University’s mission. Knowledge partnerships, advancement, international activities and public knowledge programs all play an important role. Through these activities the University makes a significant contribution to the intellectual, social and economic life of its communities within Australia and internationally. A busy calendar of public events fosters debate about ideas and policy.

During the year promising developments in the University’s Engagement agenda have seen the formation of a series of new partnerships and academic alliances, along with increased interaction with alumni and donors.

Professor Linda Tuhiwa Smith, Pro-Vice Chancellor Maori from the University of ENGAGEMENT Waikato, New Zealand delivering the sixth annual Narrm Oration HIGHLIGHTS 047

$401.9M 130 239 RAISED THROUGH ALUMNI INTERNATIONAL AGREEMENTS THE CAMPAIGN WITH UNIVERSITIES AROUND 130 alumni featured prominently in THE WORLD By the end of 2014, Melbourne the Australian Honours List in 2014, raised an incredible $401.9M through awarded by the Governor-General. There are now 239 international The Campaign, and give thanks to agreements are in place with the generosity of so many donors. Universities around the world – leveraging collaborative teaching and research potential.

SOCIAL MEDIA 119,569 TOP 50 39,500 26,850

POSITIONED  FOR SUCCESS Professor Glyn Davis, Vice-Chancellor

“I enjoy this opportunity to formally thank you, our donors, for your generosity. Your support is truly inspiring, not only because of the important work it enables, but also because your faith in our institution provides great encouragement to our students, staff and community.” 048 ANNUAL ENGAGEMENT REPORT 2014

Partnering with business, DUNGALA KAIELA ORATION government and the community The University pursues a range of corporate, MELBOURNE SCHOOL OF GOVERNMENT community and cultural strategic partnerships AND THE UNITED NATIONS HIGH to address challenges within local and One of the most high-profile COMMISSION FOR REFUGEES international communities. In turn, these initiatives under the longstanding partnerships enrich the University’s learning partnership with the Goulburn Valley The Melbourne School of Government and teaching and research activities. The is the Dungala Kaiela Oration, which (MSoG) provides a focus for activity under Universities eight institutional level strategic brings prominent leaders in politics, the University’s new MoU with the United partnerships are detailed in the Research business, the academy and the arts Nations High Commission for Refugees section of this report. Other significant to the region to discuss challenges (UNHCR). The MoU will enhance the partnerships developed and extended and opportunities. Melbourne Refugee Studies Program, throughout 2014 are described below. established during 2014. This program The oration celebrates Aboriginal is a University-wide, interdisciplinary cultural identity with the goal of creating CENTRE FOR ENERGY-EFFICIENT research, teaching and engagement a shared vision for the people of the TELECOMMUNICATIONS PARTNERSHIP initiative that contributes to design Greater Goulburn Valley region and and evaluation of asylum seeker WITH ALCATEL-LUCENT promoting Aboriginal development. and refugee policies and programs Noel Pearson delivered the sixth This is the world’s first research centre in Australia and internationally. annual oration in 2014. dedicated to reducing the impact of To coincide with launch of the MoU, communications technologies on the MSoG and the Melbourne Law School carbon footprint. CEET’s research program hosted a discussion of the current global covers a range of factors critical to the future displacement situation, the changing of IP networking, cloud and ultra-broadband humanitarian landscape confronting the access. Its researchers were recognised UNHCR and the international community, by the Victorian government in 2014 with as well as the operational challenges an Excellence in Innovation in Industry and dilemmas facing humanitarian actors Partnerships Award. today. An impressive panel of international experts presented to a capacity crowd MICROSOFT RESEARCH CENTRE FOR at the Melbourne Town Hall. SOCIAL NATURAL USER INTERFACES MSoG also facilitated a Refugee Policy Roundtable, Refugees Law and Humanity This research partnership between providing a neutral setting for academic Microsoft and the University of Melbourne experts and cross-sector representatives is supported by the Victorian State to address Australia’s policy options in Government. Launched in 2013, it brings this highly contested area. together academics and students wishing to collaborate with leading external researchers dedicated to understanding GOULBURN VALLEY PARTNERSHIP and creating innovative interfaces with The University is continuing to strengthen the digital world that facilitate human its longstanding relationship with the communication, collaboration and social Goulburn Valley (GV) by leading cross-sector interaction. Work in 2014 included a project collaboration in the development of a five-year exploring the use of gesture recognition economic, social and cultural development to detect and understand sign language strategy for the region. This work builds on Noel Pearson of those with hearing impairments. the University’s 2005 GV Initiative, to address Photo by Peter Casamento the needs and aspirations of rural and Indigenous Australians in the region. 049

“It is rare that one learns in such an immersive environment, and I relished the opportunity to do so. With each passing day, especially while in the field, I felt myself growing; personally, emotionally, and intellectually.”

Huw Hutchinson, Bachelor of Arts, CVC – Global student

Pursuant to the strategy: The further development of this important »» the Melbourne Graduate School of cultural and learning partnership was Education has placed Masters of spearheaded by the University’s involvement CARLTON COMMUNITY Teaching students at two GV sites, in the exhibition, Italian Masterpieces From STUDENT VOLUNTEER with projected increase in placements Spain’s Royal Court, Museo del Prado, as PROGRAM TESTIMONIAL over the next five years; Learning Partner. Thousands of students, alumni and friends gained unparalleled »» academics across the University participated in a feasibility study for access to the exhibition at exclusive a new Shepparton Arts Museum; and evening viewings, special events and daily ‘As an international student who has performances in the exhibition space by strong curiosity about the culture in »» a joint seed funding program commenced University of Melbourne Conservatorium Australia, I want to open the door to in partnership with the Department of Music students. As part of the learning the daily life of local people through of Environment and Primary Industry partnership, the Faculty of Arts collaborated volunteering in communities. And I through the Horticulture Centre for with the NGV to produce an interdisciplinary am so lucky that the opportunity Excellence at Tatura. series of Melbourne Masterclasses covering provided by Carlton Neighbourhood topics from particle physics to the history Learning Centre (CNLC) fulfilled my AUSTRALIAN VOLUNTEERS of emotions. expectations. INTERNATIONAL PARTNERSHIP Actually, what this experience provides CARLTON COMMUNITY PARTNERSHIP me is beyond my expectations. I The University of Melbourne signed an MoU have improved my English, learnt new with respected volunteering organization, The University’s relationship with the languages in different countries, made Australian Volunteers International (AVI). Carlton community, as both a partner friends with friendly staff and students This relationship was instrumental to the and neighbour, continues to flourish. Building in CNLC and mastered skills in office development of the Arts Breadth subject upon the Shape your Carlton community administration. I have become a better Community Volunteering for Change (CVC) consultation project in 2013, a ‘community listener to the demands of different – Global. Delivered in partnership with driven collaboration framework’ was people who need help, I am braver AVI, this pilot community development co-developed to guide partnership activities. to communicate with people from subject offers second-year and third-year These range from building capacity for different parts of the world and share undergraduate students a unique opportunity community events, programs and services, my experience, and I have a much to contribute to local communities in to partnering with low SES schools and more positive attitude towards Indonesia through project work, research, youth services to build aspiration, skills everything and have learned to enhanced language proficiency and cross- and knowledge for future access to higher be grateful in my life.’ cultural engagement facilitated by locally education and development of a Community run organisations. Website connecting residents, workers, Ms Tian Wang On the basis of this highly successful students and visitors to Carlton. pilot, CVC – Global was awarded both New Colombo Plan and AsiaBound AFFILIATES funding for 2015, which will enable a larger interdisciplinary student group to benefit The University of Melbourne maintains from this unique global mobility experience. a wide range of affiliations with research institutes, industry, public and cultural establishments across diverse disciplines – NATIONAL GALLERY OF from economics, business, law, and arts VICTORIA PARTNERSHIP to environmental and medical sciences. Our affiliations with these institutions contribute to The National Gallery of Victoria (NGV) our success as Australia’s leading university. is Australia’s most visited public art gallery and one of its most important cultural For a full list of affiliates please visit our institutions. In 2014, the University website: http://about.unimelb.edu.au/ broadened its longstanding relationship governance-and-leadership/affiliates with NGV to encompass students, Ms Tian Wang, Carlton Community staff and alumni across the University. Student Volunteer Program participant 050 ANNUAL ENGAGEMENT REPORT 2014

Each year the University hosts hundreds of conferences, seminars, lectures and other community events, providing an important mechanism for the debate of public issues and sharing of expertise.

The annual Vice Chancellor’s Engagement Complexity of Belonging and NEON Awards recognise the significant engagement 2014, once again presented challenging, NARRM ORATION and partnership work taking place across the independent theatre. The inaugural year of University. In 2014 fifteen staff project teams the Women Directors Program saw several and eighteen student teams received awards. alumnae secure directorial opportunities Projects ranged from those focused on in MTC’s 2015 Season. A new partnership improving housing design and delivery, health with Crown Resorts Foundation promises The sixth annual Narrm Oration, and education outcomes of Australian and to boost MTC’s ability to reach a wider ‘Indigenous knowledges and how international Indigenous communities, to range of Victorian students and families. they help us think about the future’, projects aimed at increasing fitness and was delivered by Professor Linda connectedness among Melbourne youth MELBOURNE UNIVERSITY PUBLISHING Tuhiwa Smith, Pro-Vice Chancellor communities and a range of arts and culture Maori at the University of Waikato, New projects including a community project that Melbourne University Publishing (MUP) Zealand in November 2014. The Narrm seeks to conserve historical painted signage published 42 new titles in 2014 under the Oration, delivered in partnership with in the City of Port Phillip. imprints Melbourne University Press, The Rio Tinto Australia, profiles Indigenous Miegunyah Press, Victory Books and MUP thinkers with an international reputation Academic, achieving significant critical to invite reflection on issues of ENRICHING MELBOURNE’S recognition. Highlights include the Walkley importance to Indigenous peoples CULTURAL LIFE Award-winning Triumph and Demise by globally. ‘Narrm’ (in Woi Wurrung, Each year the University hosts hundreds of Paul Kelly, the Walkley Award shortlisted the language of the Wurundjeri people conferences, seminars, lectures and other Prisoner X by Rafael Epstein, the John of the Kulin Nation) refers to the country community events, providing an important Button Prize-winning Dangerous Allies around Port Phillip Bay. mechanism for the debate of public issues by Malcolm Fraser, Australian Notebooks by and sharing of expertise. The University also Betty Churcher, The Life of I by Anne Manne enriches Melbourne’s cultural life through a and Private Bill by Barrie Cassidy. A Spy in rich program of events spanning theatre, the Archives by Sheila Fitzpatrick and Exit music, literature and the visual arts. Wounds by John Cantwell were shortlisted for the 2014 National Biography Award. IAN POTTER MUSEUM OF ART Other important public events included: »» The two-day biennial Cultural Treasures The Ian Potter Museum of Art welcomed Festival held in conjunction with the around 28,000 visitors and presented a national Rare Books Week. This festival program of eleven exhibitions to campus attracted thousands of people to the and greater Victoria. A highlight was Richard Parkville campus. A particular highlight Avedon: people, a National Portrait Gallery of was a 10-day exhibition in the Baillieu Australia exhibition presented in partnership Library featuring a Gutenberg Bible with the Richard Avedon Foundation (USA). alongside relevant incunabula from the Classes held at the Potter directly engaged Library’s collections. The 1455 Bible is over 6,000 students with the exhibition owned by the John Rylands Library at the program and the University art collection. University of Manchester and was brought to Australia especially for this event. MTC »» The first exhibition at the new Noel Jindi Worabak dancer part Shaw Gallery in the Baillieu Library. This on the indigenous calendar The Melbourne Theatre Company is a beautifully designed gallery was made of events in May department of the University. In 2014 more possible by the generosity of alumna than 20,000 people subscribed to the season Mrs Jessie Noel Shaw. The exhibition, the MTC, the highest in its 60-year history. titled Radicals, Villains and Slayers, was It presented its first international tour in drawn from the Library’s extensive prints 30 years, and embarked on its first-ever collection. This exhibit will appear at in-school tour throughout regional Victoria. the Art Gallery of Ballarat, the Hamilton MTC combined forces with Chunky Art Gallery and the La Trobe Regional Move and Melbourne Festival to present Gallery during 2015. 051

International engagement

In 2014 the University’s continued efforts to maximise its market share of students saw international enrolments reach 31.5 percent of total enrolments, exceeding the undergraduate and graduate coursework student targets set for 2014.

International PERCENTAGE OF INTERNATIONAL student enrolments STUDENTS FROM 2010 TO 2014

15000 31.5% 12,536 12000 2014 11,173 10,652 10,159 9000 10,143

2010 2011 6000 27.7% 27.6 % 3000 2012 2013

0 % % 2010 2011 2012 2013 2014 27.9 28.9

The top five undergraduate source countries, a scholarship market of government- 2013 and 2014. Thirty one percent of based on citizenship, were China, Malaysia, sponsored students – moved into the top 5 higher degree coursework commencements Singapore, Indonesia, and Hong Kong, for the first time. Outside these major source last studied in Australia, with 17 percent TOTAL EUROPE with a notable increase from Malaysia. markets, growth in enrolments across all doing so at the University of Melbourne.MULTI University Level (UL) 138 UL 53 REGIONAL For graduate coursework, the top five source levels were recorded from Bangladesh, Faculty Level (FL) 110 FL 50 Initiatives taken to streamline admissionsUL 01 countries based on citizenship were China, Taiwan, Germany, Nepal and Saudi Arabia. policies and practices resulted inFL improved01 India,Total Indonesia, Malaysia248 and Ecuador. India Total 103 Demand for higher degree coursework workflow and application processing times. moved up two places from 2013, from rank Total 02 continued to grow, with a 19 percent 4 to rank 2 and Ecuador – predominantly increase in commencements between NTH. E ASIA UL 30 FL 23 Total 53

STH. E ASIA & OCEANIA UL 10 NTH. FL 08 AMERICA Total 18 UL 27 FL 16 Total 43 MIDDLE EAST STH. ASIA & AFRICA UL 08 LATIN UL 02 AMERICA FL 03 FL 05 UL 07 Total 11 FL 04 Total 07 Total 11 15000

12,536 12000 11,173 10,652 10,159 9000 10,143

6000

052 ANNUAL ENGAGEMENT REPORT 2014 3000

0 2010 2011 2012 2013 2014

Formal bilateral agreements with other leading universities by region

TOTAL EUROPE MULTI University Level (UL) 138 UL 53 REGIONAL Faculty Level (FL) 110 FL 50 UL 1 FL 1 Total 248 Total 103 Total 2

NTH. E ASIA UL 30 FL 23 Total 53

STH. E ASIA & OCEANIA UL 10 NTH. FL 8 AMERICA Total 18 UL 27 FL 16 Total 43 MIDDLE EAST STH. ASIA & AFRICA UL 8 LATIN UL 2 AMERICA FL 3 FL 5 UL 7 Total 11 FL 4 Total 7 Total 11

EXTENDING INTERNATIONAL In response to growing demand for outbound Melbourne Mobility Scheme, strengthening ENGAGEMENT student mobility opportunities, new student both professional and academic staff exchange linkages were established with collaboration between the two universities. The University extended its global outreach leading institutions in key countries, such In 2014, the Melbourne – Asia Visiting in 2014, establishing new partnerships as the Universitat Autònoma de Barcelona Fellowship Scheme also provided funds to with leading international institutions and and the London Business School. Based enable more than 20 academics from partner strengthening existing partnerships. on the latest available data (2013) the institutions in Asia to spend extended periods University’s outbound mobility program at the University in 2014 and 2015, with the The University has formal agreements continues to be the largest in Australia aim of developing long-term joint research with a majority of the world’s 50 top-ranked with an 11 percent share of the total projects. universities in the leading international ranking outgoing students in Australian institutions. schemes. A detailed analysis of research Amongst the many regions in which the collaboration data was carried out to ensure University-level agreements leverage University partners, the University continues that international engagement priorities collaborative teaching and research potential. to develop close engagement with key were aligned with research priorities. The A number of new agreements targeting partners in China through joint initiatives University continues to support broad-based, the Asia Pacific region include agreements such as the innovative cloud-based academic-driven engagement as well as with the Bogor Agricultural University (IPB), C-Campus program with Tsinghua University, more focused engagement with a targeted Indonesia, Japan’s leading university, the and the Green Alliance of Universities for set of partners. University of Tokyo, and with the Indian a Sustainable Future with Peking University. Institute of Science, Education and Research, The University is also furthering its relations The University is now a partner in 239 Pune. Furthering the University’s engagement with key stakeholders such as the Chinese bilateral international agreements, with the with China, the Faculty of Business and Academy of Science and the Chinese majority including provision for reciprocal Economics finalised a new University-level Academy of Social Sciences. student exchange. As part of the regular agreement with Renmin University. cycle of quality assurance and review, 46 In 2014, the University also continued existing agreements were considered for The University continues to foster its building strong links with Indonesia. renegotiation in 2014. Of these, 42 were strategic partnership with its bilateral partners The University is one of the five Australian endorsed for renewal or further review. through initiatives such as the Manchester – institutions that together constitute the 15000

12,536 12000 11,173 10,652 10,159 9000 10,143

6000 053

3000

0 2010 2011 2012 2013 2014

Students of oral health at the Melbourne Dental School

TOTAL EUROPE Australia Indonesia Centre. The Centre In December 2014, the University of MULTI aims to foster the development of greater Melbourne’s European Union Centre University Level (UL) 138 UL 53 REGIONAL understanding and growth in the Australia- on Shared Complex Challenges was Faculty Level (FL) 110 FL 50 UL 1 FL 1 Indonesia relationship through investment launched as one of six EU Centres Total 248 Total 103 in people, partnerships and knowledge. established across Australia and New Total 2 University researchers secured funding Zealand, co-funded by the European Union for five collaborative research projects and the host universities. The University’s in the Centre’s initial funding round and EU Centre will focus on strengthening EU – NTH. E ASIA enjoyed further success in a counterpart Australia and international collaboration on UL 30 Indonesian funding round brokered by challenges such as climate change, regional FL 23 the Centre. governance and business innovation through Total 53 engagement across political, scientific and In recent years a number of initiatives have economic dimensions. STH. E ASIA helped establish strong links with academic & OCEANIA institutions in India. The University is Supporting engagement with UL 10 committed to furthering these links and Association of Pacific Rim Universities NTH. FL 8 partnerships. To this end, the University’s The University makes an ongoing contribution AMERICA International Research and Research Training Total 18 to its leadership and direction to the UL 27 Fund has awarded more than $360,000 for Association of Pacific Rim Universities FL 16 collaborative projects with India in the two (APRU) – a network of 45 leading Pacific IN 2014 THE Total 43 years since its launch in 2013. Significant Rim research-intensive universities. Academic UNIVERSITY HOSTED MIDDLE EAST STH. ASIA opportunities for academic and research & AFRICA and student participation in APRU events UL 8 engagement and training are also provided throughout 2014 included the Aging LATIN UL 2 AMERICA FL 3 through the Melbourne – India Postgraduate in Asia-Pacific Research Symposium in FL 5 »» 122 formal visits of delegations UL 7 Total 11 Program, a joint PhD program with the Indian Southern California, the Undergraduate from 39 countries, including FL 4 Total 7 Institute of Science and the Indian Institutes Summer Program in Nanjing, the Doctoral China, Germany, India, USA of Technology in Madras and Kanpur. The Conference in Indonesia, and workshops Total 11 and the European Union Melbourne Graduate School of Humanities in Peking and Taiwan. and Social Sciences collaborates with the »» Diplomatic and government University of Birmingham and the University Playing a leading role in Universitas 21 visitors including: Similarly, Melbourne plays a leading role in of Delhi to teach a Masters-level joint subject – ambassadors to Australia the Universitas 21 (U21) network. Senior Traditional and New Security Challenges: from China, Egypt, the Vice-Principal Ian Marshman continued as South Asia in a Global Perspective, for European Union and Ireland; students from all three universities. Chair of the U21 Managers’ Group in 2014. The network now includes 25 member – numerous outbound Implementation of the University’s strategy institutions in 16 countries. Australian ambassadors for Latin America saw broader reach attained and consul-generals and in partnerships with universities, research During the year work continued on the groups and scholarship bodies in the region. three key areas of educational innovation, – the President and Deputy Director In 2014 the first four projects commenced researcher engagement, and student General, Bureau of International under partnership with the São Paulo experience. With opportunities for enriching Cooperation of the Chinese Research Foundation (FAPESP), one of the student experience through mobility Academy of Sciences; the United Brazil’s leading research funding agencies. and related programs a key benefit of Kingdom Minister for Sciences Government scholarship schemes have Melbourne’s participation in the network, and Universities; President of the created significant inbound mobility the University welcomed the development Indonesia Academy of Sciences; opportunities and in 2014 the University new flexible non-traditional short-term and representatives from the welcomed 127 Science without Borders and virtual opportunities to increase premier research associations of students from the region along with overall student mobility. Germany including the Helmholtz Association and DAAD. substantial numbers of students from Developing international relationships Ecuador, Chile and Colombia. In 2014, Each year the University hosts a range »» a visit by the Vice Governor, the University supported the Chilean of high-level delegations from overseas Jiangsu Provincial People’s Research Group of Australia (CREGA), institutions and from the diplomatic corps Government, China developed which held its highly successful Chilean and government bodies, both Australian in partnership with the Victorian Students Research Conference at the and international. These visits profile the Department of Premier and Cabinet Parkville campus. The University has University’s strengths in teaching, research to celebrate the 35th anniversary continued its strong engagement with the and engagement and provide an ideal of the Victoria-Jiangsu sister state Australia – Latin America Business Council opportunity to brief key stakeholders on relationship and to identify areas (ALABC), a valued stakeholder in Latin the University’s internationalisation initiatives. of collaborative potential. America relations. 054 ANNUAL ENGAGEMENT REPORT 2014

NEW JOINT CHINA – AUSTRALIA MENTAL HEALTH CENTRE LAUNCHED

ENGAGEMENT WITH ASIA

Asialink Asialink enjoyed another landmark year in 2014, with its new capability development division, Asialink Business, commencing operations. Asialink Business is a partnership between the Commonwealth Government, corporate Australia and philanthropic supporters, aiming to assist Australian businesses succeed in Asia. During the course of the year, Asialink Business delivered more than 70 public events and business briefings to a combined audience of over 4000 people across Australia and Asia. This strong calendar of events was complemented by a series of cultural intelligence training programs and research products delivered throughout the year. A highlight of these was the year-long Asialink Leaders Program, which graduated 55 senior professionals from the business community, government and arts and Collaborative research on mental community mental health services NGO sectors whose work-based projects health issues, from schizophrenia across China through the so-called focused on delivering Asian capability to disaster mental health, will be ‘686 Project’. That partnership has in their own workplaces. the focus of a new joint University grown from clinical services to knowledge of Melbourne and Peking University transfer and now, in this new venture, A major highlight in 2014 for Asia Australia centre launched in Beijing. to collaborative research. Mental Health, a consortium between Asialink, St. Vincent’s Health and the The University of Melbourne-Peking The establishment of the new Centre University of Melbourne’s Department of University Centre for Psychiatric will respond to the increasing demand Psychiatry, was the launch of the University Research and Training will bring together for psychiatry research and training of Melbourne and Peking University Centre world experts from both institutions in China and globally. The Centre for Psychiatry Research and Training. to study all aspects of mental health, will enhance academic standing and from biological to epidemiological research outcomes for both universities, More generally, Asialink continued its and psycho-social. It will also provide and significantly increase the research intensive engagement with the ASEAN co-supervision of PhD students and and training capacity for PhD students region through involvement in the ASEAN support post-doctoral exchanges. from Australia and China. – Australia – New Zealand Dialogue (AANZ) and Asialink Conversations – Japan. Mental disorders make up approximately The aim over the next ten years 13 percent of the world’s disease is to have 50 PhD students jointly In 2014 Asialink led the national debate burden and are one of the largest trained between Melbourne and Peking. on Asia literacy in schools through the contributors to all diseases. Melbourne students will receive a greater Asia Education Foundation’s National understanding of the key mental health Conference in Melbourne. During the Over the past ten years academics from issues in Asia and, conversely, students year Asialink Arts had a strong focus on Melbourne’s Department of Psychiatry, from Peking will have full access to the Indonesia with a number of writing, music Asialink, Asia Australia Mental Health range of psychiatric research expertise and art programs delivered in country. and the Peking University Institute of Melbourne has to offer. Mental Health have collaborated closely, particularly in the roll-out of modern Student from Melbourne’s School of Physiotherapy 055

AUSTRALIA INDIA INSTITUTE CONFUCIUS INSTITUTE

As Australia’s leading centre for research In 2014, the University renewed its and analysis on India, the Australia India agreement with the Office of the Chinese Institute continued its pivotal role in the Language Council International (Hanban) “The Institute’s publications rapidly developing relationship between for the continued development of the the two countries. In a landmark year for Confucius Institute (CI). All of the nine and activities have raised the relationship, the Institute’s teaching, Confucius Classrooms hosted in Victorian the awareness of India research, public policy and outreach schools also renewed their agreements programs once more generated opportunities with the Institute. among Australian decision for partnerships and linkages in key areas. Core Chinese language and cultural makers, and helped The Institute played a key role in the programs, corporate training and in-school to change perceptions historic visit to Australia of India’s new programs continued to expand steadily in about Australia in India.” Prime Minister, Shri Narendra Modi. 2014 along with its support of the Confucius Mr Modi met senior Australian business Classroom Schools. Mr Tony Abbott, PM leaders during a roundtable dialogue In partnership with the Chinese Language moderated by the Institute’s founding Teachers Association of Victoria, the Institute Director and CEO, Professor Amitabh held the 2014 Chinese Language Teachers Mattoo, at Government House, Melbourne. Federation of Australia Annual Conference, Throughout 2014, the Institute’s Emerging attended by over 200 delegates from all Leader Fellowship Program attracted across Australia. To celebrate the 35th outstanding scholars and professionals anniversary of the sister-state relationship from India. Visitors to the Institute included between Jiangsu and Victoria, the Institute the global terrorism expert, now India’s hosted the Jiangsu Cup Chinese Speaking National Security Advisor, Ajit Doval, the Competition with Nanjing University. The Minister for Trade and Investment, and competition aimed to further enhance India’s Railways Minister, Suresh Prabhu. Victorians’ understanding of Jiangsu The politician Mani Shankar Aiyar and province’s history and culture. journalist Ashok Malik delivered the In other highlights during 2014, two Institute’s Gandhi oration, Power to the Confucius Institute sponsored study people: A Gandhian view. They were joined tours, one for school principals and leaders by academic E. Sridharan and journalist and one for CI students, were organised M.K Venu for the annual conference, State and delivered jointly with Nanjing University. of the republic: Narendra Modi and India’s An international forum, entitled How to ‘Deng’ moment. Develop 21st Century Learners, was held The Institute continues to administer in Beijing during the principal’s visit, and was the important Victoria India Doctoral attended by around 60 principals from both Scholarship scheme. Australia and China. CI’s first Art Tour, led by the Institute’s calligraphy master, was In recognition of its position at the centre well received. of Australia’s intellectual engagement with India, the Commonwealth Government announced renewed funding for the Institute during the year. The Institute also received essential funding from the Victorian Government. The Institute has also appointed a new Executive Director of Business Development and has announced plans to open a new centre in New Delhi early in 2015, to be led by Professor Mattoo. 056 ANNUAL ENGAGEMENT REPORT 2014

The University’s central Sina Weibo (the Chinese microblogging site) account was officially launched early in 2014. The post relating to the University’s ranking in 2014 Academic Ranking of World Universities received 65,000 views.

MEDIA

MEDIA MENTIONS HELP MEASURE In 2014 the University actively pursued new »» The University’s flagship publication, BOTH THE UNIVERSITY’S REACH media opportunities to provide access to the Voice, reached an approximate monthly AND IMPACT. IN 2014 MENTIONS work of its academics and engage around audience of 3,382,000. It was published RECORDED WERE: the world. While traditional media continues as a supplement in The Age once a month, to provide a platform to inform the public was uploaded to The Age website and of research developments and allows for was also widely available on campus. commentary on current issues, the University »» Up Close, the University’s weekly, public is increasingly looking to social media for facing research talk show was downloaded options which permit a conversation with the TRADITIONAL MEDIA or streamed in 173 countries, and has audience and promote ongoing relationships developed substantial listener numbers with the University. To this end, several in China, the US and Australia. Up hundred staff members undertook training Close takes an in-depth look at University in best-practice use of social media for research for an educated, non-specialist research, teaching and engagement. global audience. In 2014, episodes were Putting theory into practice, a highly downloaded almost 265,000 times. A 27% increase successful Reddit campaign – an ‘Ask Me »» Visions, the University’s fortnightly 60,721 on 2013 Anything’ (AMA) session with astrophysicist video podcast, received 130,942 Katie Mack was read by hundreds of hits. The podcast was available on the thousands of people internationally, 11,000 University’s website, YouTube, iTunes of whom engaged with the article. During and for the first time, Youku in China. SOCIAL MEDIA the year Melbourne became the first Australia, USA and UK were the three Australian university to join Snapchat with top source countries for website visits. a highly engaging campaign for prospective Australia and the US were the two main 119,569 undergraduate students. The University also sources of traffic for both website visits/ hosted Australia’s premier conference for streams and MP4 downloads. social media professionals, SWARM, which »» Twenty-three editions of the fortnightly 39,500 trended on Twitter. During the G20 Summit, online community newsletter MUSSE, the Melbourne School of Government hosted and weekly Staff News bulletins were the G20Watch Project – a branded website sent to staff. (G20Watch.edu.au) and public forum. The 26,850 website published independent analysis, The Election Watch website covered the expert opinion and ‘explainers’ on the Indonesian and Indian national elections Approximately 205,000 in total G20 throughout the summit. It provided an and the Victorian state election, offering important platform for debate and discussion, expert analysis, opinion and insight from with wide uptake by public and private the University community. Election Watch professionals and the public alike. Through India received 20,471 page views with INTERNATIONAL MEDIA the project University academics developed more than 90 percent of visitors from outside key relationships with a range of external the University. Election Watch Indonesia organisations, including the Department of received more than 63,600 views with 1,329 Prime Minister and Cabinet, CPA Australia, an overwhelming 97 percent external to MENTIONS World Vision, the Australian Institute of the University. In the week leading up to International Affairs and Transparency the Victorian poll, the site had almost 6000 International. visits. Election Watch has continued to build its social media presence and the In other significant media outcomes: @electionwatch_ twitter account now ONLINE MEDIA »» The media team arranged 109 crosses has more than 3110 followers, while the from the University’s on-campus studio. Facebook page has more than 1030 ‘Likes’. Just over 25% were to international broadcasters, including BBC, Al Jazeera, A long-term project was successfully brought 90,027 CNBC Asia, Bloomberg and TVNZ. to fruition with the unveiling of a donor wall, MENTIONS Academics also took part in Skype at an event involving many of those donors crosses with Channel News Asia, a or their relatives, to celebrate the impact of % increase in regional 24-hour news channel based philanthropy on the University. Located in the digital media in Singapore, available across Asia. Old Quad on the Parkville campus, the wall 12 mentions 057

will permanently recognise the University’s In 2014, the University was also a founding AS AT 31 DECEMBER 2014, most significant donors throughout its history. partner with the Westpac Bicentennial THE TOTAL AMOUNT RAISED At its unveiling, 62 esteemed benefactors Foundation in establishing the largest FOR EACH PRIORITY AREA were listed on the wall. private education scholarship program WAS AS FOLLOWS: in Australian history. The first major corporate Advancement collaboration for the Campaign, the $100 million fund, will provide approximately Believe – the Campaign for 100 scholarships every year in perpetuity the University of Melbourne at universities across the nation. In 2013 the University launched an ambitious As part of developing a long-term vision fundraising campaign aiming to raise $500 for philanthropic investment, the University million by 2017. The Believe – the Campaign $ has the support of many influential Patrons for the University of Melbourne campaign and volunteers in leading the Campaign. ended 2014 on a high note, with $401.9 In 2014, the Chair of the Campaign patrons, million raised, thanks to the generosity of Chancellor Ms Elizabeth Alexander AM, supporters investing in projects across $77m invited several prominent alumni to become the University. Campaign Patrons, including The Right EDUCATING TOMORROW’S LEADER As at 31 December 2014, the total Hon Lord Broers, Mr Robert J Champion amount raised for each priority area de Crespigny AC, and Mr Sam Walsh AO. of the core University was as follows: Internationally, 2014 saw strong growth in »» Educating tomorrow’s leaders – $77 million The Friends of the University of Melbourne »» Solving the world’s grand challenges – (a UK-based charitable trust) and the $151 million University of Melbourne USA Foundation. $ »» Enriching our communities – $79 million Alumnus and President of Hutchin Hill Capital Matt Edmonds was elected as President »» Gifts benefitting more than one of the Foundation, with Frank Azzopardi, specific area or faculty – $31 million John Irwin and William Sheridan elected $151m Gifts to the Campaign have enabled his vice presidents. SOLVING THE WORLD’S many new scholarships, a number of which Alumni Mervyn Howard (Senior Consultant, GRAND CHALLENGES are endowed, supported 14 Professorial EC Harris) and Dr Michael Penington (Partner, Chairs and added major works of art to Longwall Ventures) were appointed as new the University’s cultural collections. Trustees of The Friends of the University Relationships and community building drive of Melbourne. the successful progress of the Campaign In 2014, the University arranged a number with Campaign Chairman Allan Myers AO of key events. ‘Thinking Melbourne’, a $ QC and Deputy Chairmen Leigh Clifford partnership dinner between the University AO and Martin Myers AO, together with and key Melbourne stakeholders, was members of the Campaign Board, working a huge success and a public lecture by closely with the Vice-Chancellor and the Andrew Forrest focusing on his Creating $79m University to achieve significant success. Parity Review achieved considerable ENRICHING OUR Philanthropic leadership has played a media coverage and community interest. COMMUNITIES key role in a number of major infrastructure partnership announcements. These include the Melbourne School of Design, a project with the Victorian State Government worth more than $40 million to redevelop the Dodds Street stables into a visual arts wing $ on the Southbank campus, and the $6.7 million facelift of the University’s beloved Sports Pavilion, known as the ‘Pavvy’, in collaboration with key stakeholders such $31m as AFL Victoria and the Blackwood Trust, GIFTS BENEFITTING MORE THAN and significant philanthropic support. ONE SPECIFIC AREA OR FACULTY 058 ANNUAL ENGAGEMENT REPORT 2014

Open Day display, Melbourne School of Design

Underpinning the Campaign’s progress has »» A $10-million donation from alumnus Peter ALUMNI RELATIONSHIPS been the ever-strengthening collaborations Wade to develop the purpose-built Wade across the broader University. Faculties, Institute of Entrepreneurship at Ormond The University of Melbourne is proud colleges and University affiliates have all College, where a new Masters of of its global network of alumni and their contributed significantly to the success of Entrepreneurship will be taught. achievements; its graduates cover all the Campaign in 2014, individually and in parts of the world and are the University’s »» A $10 million from Australian philanthropist partnership. The Campaign Coordination greatest advocates. Greg Poche AO to enable Aboriginal and Committee of lead volunteers for different Torres Strait Islander health professionals Alumni featured prominently in the Australian areas of the broader University have played to lead health policy and practice through honours list, with 130 of our community a key role in ensuring coordination. A The University of Melbourne Poche Centre receiving an award or honour. Four alumni key focus of the Campaign in 2015 will for Indigenous Health. were also awarded Fulbright Scholarships, be growing the scholarships endowment including Lachlan Philpott, the first significantly to attract students of »» A $6.9 million gift to support the Australian to receive the Fulbright high potential from across the globe, practice, teaching and research of Professional Playwriting Scholarship. no matter what their circumstances. art conservation through the Centre for Cultural Materials Conservation Alumni participation and engagement There will also be a focus on fundraising to was made by the Cripps Foundation. in University-led events remained strong rejuvenate the cultural heart of the University, in 2014, with an increase in the number the Old Quad. In addition, more than 50 Alongside these major gifts, two new of alumni participating in volunteer programs. years after its opening, Melbourne will seek Chairs were created. Professor Lea Waters More than 1000 volunteers supported the to redevelop its intellectual centre, the Baillieu was announced as the inaugural Gerry University, contributing to the experience Library, to ensure it is the best home for Higgins Chair of Positive Psychology in the of Melbourne’s students as mentors, the many rare and unique collections and Melbourne Graduate School of Education. board members and participating in an environment fit for the next generation The Boisbouvier Founding Chair in Australian guest speaker programs. of scholars and researchers. Literature was created in collaboration with the State Library, thanks to the generosity As previously detailed, partnerships with iconic cultural organisations, such as the HIGHLIGHTS of its Chairman, John Wylie. The first Chair of its kind in Victoria, the gift will transform Melbourne Museum and National Gallery Major gifts include the following. engagement across the two institutions. of Victoria, enabled the University to offer alumni special access to key events across »» Property developer and art collector Michael Renowned Human Rights Law Professor the state. Buxton’s Collection of Contemporary Dianne Otto was announced as the Francine Australian Art, as well as funds towards the V McNiff Chair in Human Rights Law and This year also saw over 1000 alumni construction and endowment of a museum world-leading clinician and researcher participate in the Alumni Council elections. to be located in the University’s Southbank Professor Grant McArthur was appointed The Alumni Council, chaired by David campus. With a total value exceeding $26 the inaugural Lorenzo Galli Chair in Laidlaw, remains committed to the support million, this is believed to be the largest-ever Melanoma and Skin Cancers. of institutional excellence at the University, arts gift to an Australian university. 059

$26M ART DONATION FOR NEW CONTEMPORARY AUSTRALIAN ART MUSEUM AT THE UNIVERSITY OF MELBOURNE, SOUTHBANK

In one of the most significant acts museum – the Michael Buxton Centre ‘By donating this magnificent collection of arts philanthropy to an Australian of Contemporary Art (MBCOCA), on to the University of Melbourne we university, property developer and the University’s Southbank Campus, are ensuring its longevity as a dynamic passionate art collector Michael home of the Faculty of Victorian College collection which will evolve and grow, Buxton has donated his private of the Arts & Melbourne Conservatorium educating future generations of students contemporary Australian art collection of Music, in the centre of Southbank. and serving as a resource for all Australians to the University of Melbourne. aspiring to understand or collect The donation will comprise the Collection as challenging contemporary art,’ he said. The Michael Buxton Collection features well as funds towards the construction and more than 300 works by 53 of the endowment of the museum and its operation The museum will operate in conjunction country’s most significant Australian over a 20-year term. The gift is the biggest with the University’s Ian Potter Museum contemporary artists, including donation to date for the Believe – the of Art. Through the activities of the Howard Arkley, Ricky Swallow, Campaign for the University of Melbourne. Potter’s Academic Programs unit – Tracey Moffat, Emily Floyd, Patricia unique within Australia – the museum Michael Buxton said he and his family had Piccinini and Bill Henson. will facilitate object-based learning for always dreamt the collection would serve undergraduate and graduate students The Collection will be housed and as an educational resource to help foster an from the University’s diverse faculties showcased in a new purpose-built appreciation for contemporary Australian art. and different campuses.

promoting greater communication A CALENDAR OF EVENTS Publisher Morry Schwartz delivered the between the University and alumni and DESIGNED TO ENGAGE, annual A.N. Smith Lecture in Journalism, also participating in the development INSPIRE AND STIMULATE forecasting the future in ‘The Net Effect: of various outreach activities. An Optimist in the News Business’. The University’s international alumni The University continued its vibrant program In ‘Australian Exceptionalism’ Professor associations, a core part of its community, of free public lectures in 2014 with over 400 Gillian Trigg, President of the Australian were very active in 2014. Along with faculty lectures presented to the wider community. Human Rights Commission, explored and Advancement office events, these We presented many prominent thinkers, how the Government’s proposed legislation volunteer-driven organisations in countries from Australia and internationally, who may remedy the imbalance of human including Singapore, Indonesia, Hong Kong, spoke on diverse topics. Professor David L rights in Australia. China, Japan and the United Kingdom Kirp, University of California, Berkeley offered helped deliver 43 events for the growing ‘Five Big Ideas for Transforming Children’s LOOKING AHEAD international community. One of the Lives’. Professor Germaine Greer presented oldest associations, the Malaysian the ‘Feminist Ecologies in Australia’ keynote National and international engagement Alumni Association, also celebrated lecture, ‘Mother? Nature?’. remain core to the identity of the University its 25-year anniversary. and its commitment to being one of the Professor Sir Brian Hoskins is recognised finest universities in the world. Nationally, Online engagement with alumni continued as one of the world’s leading atmospheric Melbourne will seek strategic alliances strongly in 2014 with the Facebook scientists. Visiting the University as a which offer the prospect of increasing community, increasing in number by Miegunyah Distinguished Visiting Fellow, research impact while strengthening 31% to almost 14,000 users. Twitter he considered ‘Climate Change: Are teaching and learning programs, binding and LinkedIn similarly reflected this trend we up for the challenge?’. and by year end, our LinkedIn community teaching and research more closely numbered over 7500, an increase of 41% In ‘Tangled Up in Black’ Dr Gary Foley together. Internationally, it will seek to on the previous year. challenged prevailing misconceptions about deepen a focused set of partnerships, a crucial era in Australian history, the Black linking international research collaborations We are committed to growing our long-term Power Movement’s Aboriginal Embassy and joint centres with the opportunities relationships with the alumni community and protest. Mining magnate and philanthropist it provides students through mobility working with them to advance the University. Andrew Forrest, spoke on the present and joint degrees. Meanwhile Believe –the To ensure these relationships remain strong critical disparity between Indigenous Campaign for the University of Melbourne and enduring, the University has undertaken and other Australians and explored will continue to build relationships with an extensive review of its alumni relations how Australia should respond. the University’s international communities, practices. The results of this review will creating a culture of giving to support In association with Melbourne Museum’s help guide our future strategy in developing the University in its continual quest Aztecs exhibition, a special series of our alumni relations program. for excellence. talks uncovered the culture and technology of this ingenious civilisation. 060 ANNUAL REPORT 2014

The Melbourne Operating Model

Melbourne School of Design exterior 061

Open Day, staff member with prospective students

Enable academic performance

Support Improve triple helix Increase student efficiency experience and top 50 ranking

Enable professional excellence

Our people BUSINESS IMPROVEMENT PROGRAM

In 2013 the University embarked on an The Melbourne Operating Model is The significant restructuring anticipated by ambitious strategic business improvement characterised by a small core responsible BIP has resulted in the need for a substantial program. The Business Improvement for the University’s strategic framework, number of new or revised roles in the new Program (BIP) was designed to improve strong and viable operating divisions, and professional services structure. During 2014 systems and processes to make Melbourne an increased focus on performance and there has been substantial implementation of a more productive and satisfying place accountability. Activities are channelled the staff changes anticipated by the model. to work, while at the same time freeing through three operating units – Chancellery Current professional staff filled approximately up a significant amount of funds through is focused on policy, strategy and high 85% of these. These appointments are being administrative efficiency for reinvestment level controls; Academic Divisions deliver supplemented through external recruitment in core research and teaching programs. division-level outcomes in accordance with to strengthen capacity in some of the new To ensure the University had access to the strategic intent and targets agreed with shared services functional areas. good practice industry models Strategy& the Chancellery; functional expertise and Despite the implementation still to occur, (formerly Boooz&Co) were engaged as a services are consolidated and delivered at it is evident that the Business Improvement partner to assist with diagnosis, design and scale by University Services. New machinery, Program has introduced administrative early stage implementation of a substantially including a University Services Board and reform on a scale that has not been achieved revised operating model. functionally aligned Buyers’ Committees elsewhere in Australian higher education. each lead by Deans, is empowered to By the end of 2014, under the active Progress achieved to date and outcomes provide oversight and whole of University guidance of a BIP Steering Committee, now in train to be realised would not have stewardship and accountability of the the University had completed the detailed been possible but for the outstanding shared services model. design of a new strategic management commitment, good-will and dedication of model that is to be applied consistently These changes have resulted in a University staff generally, particularly those across all University services. The new consolidation of professional expertise professional staff whose roles and careers model provides for the adoption of a in shared services and deployment of have substantially changed as a result of the shared services approach embracing more specialist and discipline-specific reforms. Through BIP the University is taking all professional services. roles in academic divisions. It requires responsibility for increasing its resilience professional staff to develop new ways of for the longer term while at the same time New organisational structures were in working which provide a strong emphasis improving services for students and staff. place, the internal filling of positions virtually on client service. Intrinsic to the new model Introduction of the Melbourne Operating completed and five high-profile process is a greater transparency of performance Model is an administrative reform of improvement reforms underway in time with well-defined levels of accountability. global significance within the higher for formal commencement of what is to A series of identified and future process education sector. be styled the ‘Melbourne Operating Model’ improvements and policy consolidation early in 2015. While there remains a further initiatives is designed to reduce complexity year of implementation, which will allow for and improve the quality of services for staff substantial improvements in procurement Introduction of the and students. Continuous improvement will practices, the University is well on track become part of organisational culture over Melbourne Operating Mode to achieve by 2016 more than $70 million the longer term. is a university administrative in annual savings as a result of increased administrative efficiency and effectiveness. reform of global significance. 062 THE MELBOURNE ANNUAL OPERATING MODEL REPORT 2014

The University values social inclusion and equal opportunity, in which diverse personal attributes, experiences and backgrounds are accepted and respected.

SUSTAINING STAFF ENGAGEMENT, SATISFACTION AND WELLBEING THROUGH UNPRECEDENTED CHANGE

Implementation of BIP has required which provided guidance on preparing for through regular communication. The an unprecedented level of change for the job opportunities in the new operating University’s approach to the engagement professional staff. Recognising the challenges model. Staff facing redundancy were of staff and the NTEU resulted in managing faced by staff an extensive range of initiatives provided with career transition support the change process free from industrial were delivered to assist staff and supervisors to expand their career options and identify action. The success of the approach manage the changed roles and structures. the most suitable next career steps. is further reflected in the remarkable Understanding that change may raise achievement that Melbourne is tracking New offerings include Execution of Change uncertainty and anxiety, the University above the Go8 average in the Staff Master Class Series, Storytelling for Leaders introduced an externally run Employee Climate Survey. and Effective Communication for Managers. Assistance Program, available for Approximately 1600 staff attended The University acknowledges that the all employees and their immediate workshops, sessions and master classes. BIP has resulted in considerable uncertainty family members. and challenges for staff during 2014. 2015 In addition, approximately 2000 professional Throughout the BIP process positive will be a year of consolidating the Melbourne staff attended Career Readiness Sessions relationships with staff were maintained Operating Model in partnership with staff.

BUILDING EXCELLENCE IN SKILLS, CAPABILITIES AND EXPERIENCE

The University continued to invest in the and 42 staff presented on a range of topics Expansion of the leadership programs development of its staff throughout the year. celebrating the contribution of professional occurred in 2014 with the launch of the One of the highlights of the year was the staff, promoting cross-unit collaboration and Professional Women in Leadership Program, recruitment of five talented graduates in the creating opportunities for staff development. a pilot program preparing high-potential staff first Melbourne Early Career Development Following the success of the pilot, the for more senior and executive roles. Initial Program for professional staff. This Program conference will become an annual event, evaluation indicates very strong support has a structured development component, with a foundation in place to support the for the continuation of the program. and will provide a foundation for integrated development of staff expertise and capacity. Online training in key compliance areas ongoing professional development of future Melbourne’s premier Academic Leadership continued to be offered, including Promoting professional staff leaders. Development Programs were again offered Positive Workplace Behaviours, OH&S, The University’s first conference for in 2014. Across the three 2014 programs Recruitment and Selection and Performance professional staff was piloted to great female participation in a leadership Development. A renewed focus will be acclaim in September. Two keynote speakers development program sat at 47%. placed on achieving much higher levels of completion rates in all compliance programs in 2015.

Representation of female Level E+ includes: Level E Staff, HEW 10+ includes: HEW 10 Staff, Vice-Chancellor, staff in total staff population Deans, Pro Vice-Chancellors, Executive Directors, Chief Financial Officer, Chief Marketing (excluding casuals) Provost and Deputy Vice-Chancellors. Officer, Senior Vice-Principal and General Counsel.

FTE 2011 F %F 2012 F %F 2013 F %F 2014 F %F

Total T&R Staff 1388 542 39.1% 1305 484 37.1% 1326 493 37.2% 1320 488 37.0%

Staff at Level D 376 127 33.8% 372 132 35.5% 380 130 34.2% 373 137 36.8%

Staff at Level E+ 436 98 22.6% 471 109 23.3% 498 127 25.5% 527 138 26.3%

Staff at HEW 10+ 246 141 57.6% 249 146 58.4% 223 130 58.4% 288 168 58.4% 063

DIVERSITY AND EQUITY

The renewed University of Melbourne for dealing with the impact of domestic Staff Equity and Diversity Strategy to violence in the workplace were developed, 2016 aims to enhance the representation, an information source was created for new distribution and retention of staff with diverse parents and their managers based on the characteristics, to promote and value staff results of the University-wide parental leave diversity and inclusion, and to support staff utilisation project and a guide for staff with to achieve their personal aspirations aligned mental health issues was made available. with the achievement of the University’s During the year the University became a strategic goals. During 2014, activities signatory to the Human Rights and Equal focussed on identified priority areas including Opportunity Commission’s the ‘Racism – parents and carers, cultural and linguistic it stops with me’ campaign and promoted diversity, living with disability and sexual it widely on campus. A series of racial and gender diversity. literacy seminars were presented to Activity focussed on the development of staff and students to further engage new information resources for staff and with the University community. developing and delivering training. Guidelines

ATTRACTING INDIGENOUS STAFF PATHWAYS TO EMPLOYMENT

The University continues to deliver on The University delivered its Indigenous The University continues to work in the aims of the Indigenous Employment Australian Employment Development collaboration with the TAFE sector to Framework 2014–2016 (IEF), focussing Program for the second year, bringing the create pathways whereby TAFE graduates in particular on becoming an employer total number of participants to 19. In 2014 can transition into employment with of choice for Indigenous Australians and nine additional recruits were employed us at the completion of their studies. achieving employment target of population through the provision of the program. A Memorandum of Understanding (MOU) parity in Indigenous staff numbers by 2020. Recruits were placed in the following areas: has now been signed. TAFE partners Faculty of Arts, Faculty of Medicine, Dentistry include Box Hill, Chisholm and Kangan. Indigenous Employment Cultural Awareness and Health Sciences, Property and Campus The partnership will be formally launched Training commenced in 2014 with the aim Services, Melbourne Students and Learning, in June 2014. of promoting Indigenous employment Melbourne Law School, Faculty of Science at the University of Melbourne to non- and Faculty of Business and Economics. Indigenous managers/supervisors and Wider University participation was achieved inform staff of the support available to them with the Faculty of Science and Faculty to participate in the employment agenda. of Business and Economics joining the Two training sessions were held every month. program. Retention of the Indigenous The Indigenous workforce has grown from workforce was a critical element of the 2013 by an additional nine Indigenous staff. implementation of the BIP.

Indigenous Staff 30 November / 2011-2014

100 94 90 Total

80 additional Indigenous 69 73 Continuing staff from 2011 64 46 and Fixed Term 60 The Indigenous workforce has 48 49 grown from 2011 by additional 46 Indigenous staff. 40 35

26 20 20 21 13 Casual Note: Indigenous staff information is volunteered at the discretion of the individual staff member. 0 The above numbers do not necessarily indicate 2011 2012 2013 2014 the actual number of Indigenous staff. 064 ANNUAL REPORT 2014

Sustainability

Learning to live more sustainably is without question one of the great challenges facing the planet.

The University is committed to embedding sustainability in its curricula, research and campus operations.

SUSTAINABILITY HIGHLIGHTS 065

REDUCING CARBON EMISSIONS ENABLING SUSTAINABLE BY 30,000 TONNES ANNUALLY COMMUTING

Energy projects completed between Over 2200 bicycle parking 2008 and 2014 are saving 30,000 spaces are now available at the tonnes of carbon emissions annually University, encouraging more across the University. sustainable travel and easing demand on public transport.

6 -star Green Star TOP 50 design rating The new Melbourne School of Design building achieves a 6-star Green Star design rating with full innovation points.

POSITIONED  FOR SUCCESS

The ‘Campus as a Laboratory’ and ‘Education for Sustainability’ concepts are central to the University’s goals. Unique in the sector, they draw together operations, teaching and research with student and staff engagement to deliver outcomes focussed on sustainability. 066 ANNUAL SUSTAINABILITY REPORT 2014

Governance and leadership

Activities are underpinned by the University’s strategy, ‘Growing Esteem’, Environmental Policy and Environmental Sustainability Strategic Plan.

Research and curriculum on sustainability

The ‘Campus as a Laboratory’ and »» The University’s Green Star Communities ‘Education for Sustainability’ concepts project team attended tutorials to answer are central to the University’s goals. Unique questions about UoM’s participation in in the sector, they draw together operations, GSC and maintained an online presence teaching and research with student and on student discussion forums. The case staff engagement to deliver sustainability study offered students an opportunity to focussed outcomes. study a working example of the framing and application of rating tools. At the same ‘Campus as a Laboratory’ aims to undertake time, their collective work is valuable to sustainability-related research and apply the University as it pursues Green Star research findings directly on campus, while Communities accreditation. ‘Education for Sustainability’ seeks to embed sustainability principles and practices into »» ‘Designing Green Roofs and Walls’ is an the curriculum across all disciplines. The intensive subject for Master of Horticulture University’s resolve towards this commitment and specialist certificate students at was reinforced this year when the University Burnley. Staff identified four suitable updated its graduate attributes, making sites on the Parkville campus for students it explicit that Melbourne Graduates are to undertake Green Roof conceptual expected to both, have a high regard for designs. The roof spaces were chosen the environment and, through advocacy not just for their physical suitability but and innovation, lead change for a sustainable also for their strategic value in development future. Graduate attributes inform the as green spaces. Staff members facilitated development of learning outcomes for student site visits and spoke with the every course and subject. group from the perspectives of a client and University sustainability. It is In 2014 many projects were developed anticipated the best designs may under the auspices of the two concepts. be considered to progress to detailed These include: design and implementation. »» ‘Interdisciplinarity and the Environment’ »» ‘Sustainability Code of Practice’ – Green Star Communities (GSC) Case Students from the School of Social and Study. Master of Environment students Political Sciences assessed the case for in the subject ‘Interdisciplinarity and the establishing a Code, undertook an analysis Environment,’ used the University’s GSC of existing Sustainability Codes of Practice pilot as the case study for this subject. and developed a Draft Sustainability They undertook two assignments: Code of Practice for the University. The one to evaluate the manner in which Sustainability Manager from the University’s an environmental issue is framed in Property and Campus Services acted as the UoM/GSC context, the second client for the project, with academic staff to develop recommendations to from the Faculty of Business & Economics UoM in how to respond to the task. providing support and guidance. 067

Melbourne’s committment to a greener campus encourages cycling as a main mode of transport

»» Integrated Sustainability Reporting – The University’s Sustainability Executive Research with partners provided support for a student-led The University’s research institutes are Carlton Connect aspires to achieve development of an integrated reporting key hubs for sustainability research at leading edge sustainability outcomes framework. The two-week intensive project the University. for this precinct through extensive use was the subject of the Faculty of Business of refurbishment (rather than new build), and Economics ‘Melbourne Business The Melbourne Sustainable Society adaptive re-use of materials and fitout Practicum’. Students completed the Institute and the Melbourne Energy Institute throughout the precinct and by attraction first phase of framework development in particular, engage in research tackling of key tenants who share our sustainability through an information gathering process the most pressing environmental problems. and innovation agenda. The first phase which included a review of contemporary The Melbourne Energy Institute serves as of this redevelopment commenced in sustainability reporting in the HE sector, an access point for industry, government 2014 with the fitout of the Lab-14 space gathering of key data, identification and community groups seeking to work with on the Swanston St/Grattan St corner. of information gaps and formulation leading researchers on innovative solutions of resultant recommendations. looking at new energy resources, developing new ways to harness renewable energy, »» Sustainability efforts at The University more efficient ways to use energy, securing of Melbourne have received international energy waste and framing laws and recognition over 2014, with a feature regulation to achieve energy outcomes. in the International Sustainable Campus Network’s publication, ‘Best Practice The recently-established Carlton Connect in Campus Sustainability’, which was Initiative works closely with academics, presented at World Economic Forum. faculties, Melbourne Research Institutes The case study described how the and external partners to foster and promote University’s Sustainability Executive University of Melbourne sustainability The Carlton Connect Initiative is effective in supporting funding for research. Over the last year, Carlton Connect is an ambitious strategy to carbon reduction projects. has helped to advance the University’s sustainability research agenda by driving unite talented people who »» In the 2014 Universitas Indonesia key activities such as the Water Productivity Green Metrics sustainability benchmarking share a desire to tackle some Blueprint, launched by Federal Environment survey, the University ranked 29th out Minister Greg Hunt MP in June, and also of our biggest sustainability of 360 participating institutions for its through high profile events such as the and social resilience challenges performance across Infrastructure, Energy, 2014 Carlton Connect Conference, launched Waste, Water, Transportation & Education. and a passion for designing new by the Lord Mayor Hon. Robert Doyle. ideas and technologies to help With the University’s acquisition of the former Royal Women’s Hospital site in 2013, the secure Australia’s prosperity. Carlton Connect Initiative also represents a large precinct redevelopment project. 068 ANNUAL SUSTAINABILITY REPORT 2014

SINCE 2006

ENERGY CONSUMPTION CARBON EMISSIONS WATER USE % % % 23 decrease 30 decrease 26decrease

Promoting sustainability through cultural change

Sustainability engagement activities are now and ideas on sustainability issues at the A self-guided Sustainability Walking Tour a regular feature within the annual University University. The aims of the survey were for the Parkville and Southbank campuses calendar. Student Orientation Week, Open to identify issues of environmental concern, was developed to highlight various sites Day, World Environment Day and the Earth to gain an understanding of awareness of interest including renewable energy Hour weekend all provide opportunities to surrounding Sustainability initiatives and projects and significant trees amongst raise awareness of contemporary issues to identify further opportunities. The results many more sustainability features. and highlight efforts students and staff of the survey inform the University’s updated In 2014, the University continued to raise can take themselves to minimise their Sustainability Plan. awareness of its certification as a Fair Trade environmental impact. Seven Ride to Uni The Green Innovation Fund and the #c14 University, with Fair Trade product purchases Breakfasts were enjoyed by staff, students Hack directly engage students with the through the central supplier increasing by and alumni throughout the year. In addition, campus, encouraging them to apply for a further 19%. the University collaborated with the Student funding and resources for projects that Union Environment Department in delivering Approximately 100 Staff Environment can help transform the University into an public lectures and events, including Advocates representing faculties, increasingly sustainable and community- ‘Sustainable Cities’, a forum looking into departments and administrative areas conscious space. Projects developed the future of Melbourne as a sustainable play a key role in raising awareness of from this initiative in 2014 include the living space. Sustainability issues on campus as well maintenance of the Melbourne University as encouraging colleagues to be involved The second biennial Sustainability Survey in Community Garden and a ‘greening’ with sustainability events and programs 2014 provided the opportunity for staff and learning spaces initiative around campus. on campus. students to provide their feedback, thoughts

Energy Demand The following chart represents the cumulative Operational 2006–2014 benefit of the energy reduction projects that sustainability Benefit of Projects have been implemented. MWh A concerted effort to increase environmental sustainability through reductions in energy 125,000 use, carbon emissions and water is resulting 120,910 in overall reductions in energy consumption 120,000 Projected of 23%, carbon emissions of 30% and 26% 116,153 115,000 in water usage based on usage per floor 113,082 electricity area, since the baseline year in 2006. 110,000 109,951 demand*

105,000 104,902 102,683 100,000 96,889 95,000 96,604 Actual 95,000 92,954 electricity 90,000 91,980 91,327 demand 89,280 88,976 85,000 87,839 86,633

* Projected electricity demand based on significant growth 80,000 in floor space since 2006 (27% increase) and new buildings have included energy intensive areas such as laboratories 0 and data centres 2006 2007 2008 2009 2010 2011 2012 2013 2014 069

* Green power and abatements were discontinued from July 2013 in favour of investment Sustainability in energy reduction projects on campus. Together with further projects being implemented, 2011-2015 these will generate significant ongoing energy and emissions savings from 2015. targets ** Waste figures include Parkville, Southbank, Burnley and Werribee campuses.

2015 Target Baseline Baseline 2014 2015 Annual Performance Measure as % reduction Year Value Performance Target from baseline

Energy Usage – GJ/m2 GFA 2006 0.9 0.69 0.6 33%

Nett Energy-related Carbon Emissions 2006 212 150 106 50% 2 – kg CO2/m GFA*

Potable Water Usage – kilolitres per m2 GFA 2006 0.78 0.58 0.62 20%

Waste – % of Total Waste by 2009 16% 40% 50% weight diverted to recycling**

Travel – motor vehicle fleet, nett 2007 zero zero zero fuel emissions after Greenfleet offset

Continuing Lowering water consumption savings in energy The University continues to implement building is expected to substantially projects to reduce demand for mains water reduce mains water usage. The tank will Energy reduction continues to be achieved and to increase the capture of rainwater on provide water for both the MSD building by focusing on high-yield projects such as campus. Usage of mains water is 26 percent and the gardens throughout Parkville upgrades to heating, air conditioning and below the 2006 baseline, based on external campus. The University has continued lighting systems as well as the introduction gross floor area. to install infrastructure to encourage the Voltage Power Optimisation technology. use of tap water rather than disposable A 750,000kL water tank in the newly In 2014 completed projects resulted in bottled water, with 72 water fountains completed Melbourne School of Design emissions savings of approximately 970 installed across campuses. tonnes of CO2. Projects including solar installations at Wilson Hall and Voltage Power Optimisation units for the Law and FBE buildings due for completion Total university mains 2006–2014 early in 2015 are expected to produce water usage by floor area further savings in the order of 1,000 tonnes of CO2. Kilolitres In 2014, the University, together with its per m2 GFA installation contractor, received the Master Electricians Australia’s Excellence Award 0.90 (Vic/Tas) – Commercial Project of the Year 2014 for Australia’s first electronic dynamic 0.80 voltage optimisation unit installed at the 0.70 Law building. 0.60 The University’s ongoing program of 0.50 Energy Reduction and Energy Generation 0.40 works are designed to propel the University towards a much cleaner energy campus. 0.30 0.20 0.10 0.00 2006 2007 2008 2009 2010 2011 2012 2013 2014 070 ANNUAL SUSTAINABILITY REPORT 2014

Towards greater resource recovery and recycling Sustainable transport

The University is researching and instead of buying new items. Over the The Myki Commuter Club promotes implementing better ways to recover past year the program has redeployed use of public transport through discounted resources and increase its recycling rate. furniture which would have cost an annual metropolitan travel cards. In This year a further 32 waste and recycling estimated $1.95 million to buy new. 2014 the total number of users was stations were installed around the Parkville 371 (up from 346 in 2013). and Southbank campuses. INCORPORATING SUSTAINABLE There was a significant increase in bikes The current recycling rate has remained DESIGN AND BUILDING PRINCIPLES on campus in 2014, with over 2200 bicycle steady at around 40%. This rate is expected parking spaces now available at the to improve as solutions for problematic The University has an ongoing commitment University, up from 1600 in 2011. Working wastes such as organics and soft plastics are to a minimum rating target of 5 Star Green in collaboration with the City of Melbourne, implemented. Figures reflect a consolidation Star for all new buildings, and 4 Star Green an additional 60 bicycle spaces have of gains made over previous years. Star for all major building upgrades. The been installed in public space at University new Melbourne School of Design building, Square, facing the Law Building. The Furniture and Equipment Re-use home to the Faculty of Architecture, Building Program is growing exponentially, and Planning, has achieved an impressive In 2014, the University continued contributing to a culture shift amongst 6-star Green Star Building design rating, its commitment to offsetting all fleet University staff who now seek out cost- including the maximum possible ten fuel emissions through Greenfleet. effective furniture from the reuse website points for Innovation. A biodiverse forest of some 3,300 native trees was established640K EOIs in 2014 to offset 890.1 tonnes of CO2-e emissions.

MSD

The University of Melbourne 2009–2014 $ recycling tonnage IN 2014 THE UNIVERSITY Tonnes RECYCLED

1500 1386.426 1280.44 $ W $ 1280.44 tonnes 1146.1 1200

941 $ W 900 1,185 tonnes 600 The recycling tonnage has increased by 1,185 tonnes from 2009 to 2014. 325 300

95

0 Note: Recycling figures include Parkville, 2009 2010 2011 2012 2013 2014 Southbank, Burnley and Werribee campuses 071

University furniture and equipment reuse figures 2012, 2013 and 2014 2012 2013 2014

Pieces of furniture 1122 3028 3652 redeployed items items items

Diverted from landfill 47t 63t 88.5t (tonnes)

Estimated savings on retail $225k $647k $1.95m replacement

Estimated savings on landfill charges $30k $50k $45k

Infrastructure projects

During 2014 the University continued »» The Melbourne School of Design The Major Projects Framework Procedures to invest in the planning, design and building (featured on p.25 of this Report) Manual guides planning, management construction of quality infrastructure in – The state-of-the-art new $127 million and governance of Chancellery projects, and around campus. These projects building for the Faculty of Architecture, advocating a ‘stage gate’ approach to ensure included new buildings and IT systems. Building and Planning is located at the proper approvals are sought at the end of A number of these activities were supported center of the University of Melbourne’s each stage of a project’s lifecycle. Through by state and federal government grants. Parkville campus. this process major University capital projects, Projects successfully completed during large IT projects and large-scale business »» Northern Health Teaching, Training the year included: transformation, organisational restructuring Research Project (NHTTRP) – The $34.4 and reform projects are managed optimally »» The Doherty Institute (featured on million NHTTRP project is a partnership and deliver the strategic outcomes specified, p.29 of this Report) – The $207.5 million between Northern Health, The University without exposing the University to Doherty Institute is a partnership between of Melbourne, La Trobe University and the unnecessary risks. the University of Melbourne and Melbourne state and federal governments. The Health, established to create a world-class new facility will provide much-needed institute combining research into infectious clinical training, teaching and research disease and immunity with teaching infrastructure at The Northern Hospital site excellence, reference laboratory in Epping, on Melbourne’s northern fringe. diagnostic services, epidemiology »» Themis Enabling Excellence (TEE) and clinical services. Project – The TEE program was an upgrade of the University’s enterprise IT system, THEMIS, which ensures mission- critical and business-as-usual systems continue to be delivered and supported. It will improve the current IT system’s functionality in the Oracle e-Business Suite (EBS). 072 COUNCIL ANNUAL MEMBERSHIP 2014 REPORT 2014

Council membership 2014

Council is the governing body of the University of Melbourne and has oversight of the entire direction and superintendence of the University. Council was appointed pursuant to the Melbourne University Act 1958 and continued from 1 July 2010 under the terms of the new University of Melbourne Act 2009.

FINAL AS AT 29 JANUARY 2015 PERSON APPOINTED BY MINISTER

Chancellor Vice-Chancellor Mr Robert Johanson MS ELIZABETH ALEXANDER AM PROFESSOR GLYN DAVIS AC (DEPUTY CHANCELLOR) BCom Melb FAICD FCA FCPA BA NSW PhD ANU FASSA, FIPAA BA LLM Melb MBA Harv Appointed to Council 2 October 2004. Appointed Vice-Chancellor 10 January Appointed 6 March 2007 (Governor- Re-appointed 15 April 2008. Elected 2005. Past Chair of Universitas 21, and in-Council member). Re-appointed Deputy Chancellor 1 January 2011. of Universities Australia. Director of 1 January 2013 and resigned 3 August Elected Chancellor 8 April 2011. Grattan Institute and Melbourne Theatre 2014. Appointed Minister’s Appointment Re-elected Chancellor 1 January 2014. Company. Member of Group of Eight. 4 August 2014. Re-elected Deputy Field of experience: Business and Member of Supervisory Board of Menzies Chancellor 1 January 2013. Field of accounting. Chair of Medibank. Chair Centre for Australian Studies (London). experience: Banking and finance. of Dexus Wholesale Property Ltd. Ex-officio member of the University’s Chairman of Bendigo and Adelaide Bank Director of Dexus Property Group. companies and controlled entities. No Limited, Australia India Institute, The National President of Winston Churchill significant financial interests declared. Conversation, and Australian Friends Memorial Trust. First female National of Asha. Director of Rural Bank, Grant President of CPA Australia and Australian President of Academic Board Samuel Group, and The Robert Salzer Institute of Company Directors. Foundation. Member of Takeovers Panel. PROFESSOR RUTH FINCHER AM Former Veuve Cliquot Businesswoman No significant financial interests declared. of the Year. No significant financial BA(Hons) Melb MA McMaster PhD Term of office expiring 31 December interests declared. Clark FASSA DFIAG 2016 Appointed 1 January 2013 ex-officio member of Council as elected President of Academic Board for term of office ending 31 December 2014. No significant financial interests declared. 073

PERSONS APPOINTED BY GOVERNMENT PERSONS APPOINTED BY COUNCIL

Ms Deborah Harman Professor Robin John Batterham AO Mr Martyn Myer AO BEd SCV Rusden, MEd Melb BE PhD LLD (Hon) Melb BEng Swinburne MEngSc Monash DSc (Hon) UTS Hon DEngin Qld MScM MIT Appointed 1 January 2012. Field of FAA FTSE FCAE FREng FNAE FSATW Appointed 17 February 2009. Reappointed experience: Education. No significant FAusIMM FIChemE FISS FAIM FAICD 1 January 2014. Field of experience: financial interests declared. FIEAust CE CPE CSci AMusA Hon.MWIF Business and not-for-profit. President of Term of office expiring 31 December 2014 The Myer Foundation. Chairman of The Appointed 1 July 2012. Field of Experience: Myer Family Investment Ltd. Director of Research and engineering. Board Member Cranlana Programme. Chairman of CogState Mr Tony Peake of MBD Energy. Chair of Advisory Panel Ltd. Board Member of Melbourne Theatre BBus RMIT FCA Australia India Strategic Research Fund Company. Founding Council member of and Australian Chamber Choir. No significant Appointed 5 May 2009. Re-appointed Royal Institution of Australia. Board Member financial interests declared. 1 July 2012. Field of experience: Business of Royal Botanic Gardens Victoria . No and government. Managing Partner Term of office expiring 31 December 2014 significant financial interests declared. Finance & Operations and National Leader Term of office expiring 31 December 2016 – Government of PwC Australia. Director Mr Ross McPherson of Melbourne University Publishing Ltd. (Deputy Chancellor) Director of Methodist Ladies’ College. Ms Eda Ritchie AM Victorian Fellow of the Institute of Public LLB (Hons) Melb LLM Lond FAIM FAICD GDipBus Monash AMusA Administration Australia. Fellow of The Appointed 1 January 2010. Elected Deputy First appointed 13 September 2004. Institute of Chartered Accountants in Chancellor 7 May 2012. Re-elected Deputy Re-appointed 1 July 2012. Field of Australia. Fellow of Leadership Victoria’s Chancellor 1 January 2014. Field of experience: Business and community. Williamson Community Leadership Program. experience: Law, business, media. Executive Director of Melbourne Recital Centre, In relation to financial interests, refer to Chairman of McPherson Media Group. Hillview Quarries Pty Ltd, Chair of Victorian Note 29 in Volume 2. Member of Board of McPherson Newspapers College of the Arts Foundation and Trustee Term of office expiring 31 December 2014 Pty Ltd and subsidiary companies, including of RE Ross Trust. No significant financial Waterwheel Press Pty Ltd. Convenor of interests declared. FoodBowl Unlimited Inc. Chair of Goulburn Mr John Wilson Valley Health Foundation. Member of Global Term of office expiring 31 December 2014 BCom (Hons) Melb CA CPA FFin Foundation Inc Advisory Council. Director Appointed 23 March 2010. Re-appointed and Treasurer of International News 1 January 2013. Field of experience: Media Association. No significant financial Business and accounting. Chair of University interests declared. Audit Committee. No significant financial Term of office expiring 31 December 2015 interests declared. Term of office expiring 31 December 2015 The Hon Justice John Middleton LLB (Hons) Melb BCL (Hons) Oxon The Hon Dr David Kemp Appointed 1 January 2011. Reappointed BA LLB Melb PhD Yale 1 January 2014. Field of Experience: Law. Hon DUniv. Sunshine Coast Appointed Justice of Federal Court of Appointed 7 October 2014. Fields Australia 2006. Deputy President of of experience: University, Government, Australian Competition Tribunal 2009. Consultancy. Professor of Politics, Monash Presidential Member of Administrative University 1979–1990; Member of Federal Appeals Tribunal 2010. Board Member Parliament for Goldstein, 1990–2004; Minister of Victorian Bar Foundation. Part-time for various education and related portfolios Commissioner of Australian Law Reform 1996–2001; Minister for Environment and Commission. No significant financial Heritage 2001–2004; Minister Assisting the interests declared. Prime Minister for the Public Service and Term of office expiring 31 December 2016 Vice-President of the Executive Council 1998–2004; Fellow, Australia and New Zealand School of Government; Director of Grattan Institute for Public Policy, Virginia Chadwick Memorial Foundation, Scotch College, and the Victorian Scottish Heritage Cultural Foundation. Chairman, Museum of Australian Democracy, Old Parliament House, Canberra. No significant financial interests declared. Term of office expiring 31 December 2015 074 ANNUAL REPORT 2014

Senior leadership

Senior leadership

Vice-Chancellor and Principal Vice Principal Administration Senior Vice-Principal Professor Glyn Davis AC and Finance & Chief Financial Officer Mr Ian Marshman BA NSW PhD ANU FASSA FIPAA Mr Allan Tait BA (Hons) Melb LLM ANU BSocSci(Hons) Birm ACA ACE&W Provost Vice Principal (Advancement) Professor Margaret Sheil Deputy Vice-Chancellor (Research) Ms Sue Cunningham BSc (Hons) PhD UNSW FRACI FTSE Professor James McCluskey BA (Hons) Middx MA Oxon BMedSci MBBS MD W Aust Deputy Provost and Deputy Head of University Services FRACP FRCPA FAA Vice-Chancellor (International) (from June 2014) Professor Susan Elliott Vice Principal (Engagement) Mr Paul Duldig MBBS MD Melb FRACP Mr Adrian Collette AM MEc Adelaide BA LaTrobe MA Melb Deputy Vice-Chancellor (Academic) Vice Principal Policy and Projects (until June 2014) (from July 2014) Professor Philippa Pattison Dr Julie Wells BSc (Hons) PhD Melb FASSA BA Dip Ed UWA BA Hons MU PhD Monash

Deans

Faculty of Architecture, Faculty of Medicine, Dentistry Melbourne Graduate Building and Planning and Health Sciences School of Education Professor Tom Kvan Professor Stephen K Smith Professor Field Rickards BA MA Cantab MArch UCLA DSc FRCOG FMedSci BSc (Hons) Melb MEd VUManc PhD Open (UK) FRICS AAIA PhD Melb FACEL FACE Faculty of Science Faculty of Arts Professor Karen Day Melbourne School of Engineering Professor Mark Considine BSc (Hons) Melb PhD UOM Professor Iven Mareels BA (Hons) PhD Melb FASSA FIPAA ir (electro-mechanical engineering) Ghent Faculty of Veterinary Science PhD ANU FTSE, FIEEE, FIEAust, CPEng Faculty of Business and Economics Professor Ken Hinchcliff Professor Paul Kofman BVSc (Hons) Melb MSc Wisconsin- Melbourne School of MEc PhD Erasmus Madison PhD Ohio DACVIM Land and Environment (until October 2014) Professor Zeger Degraeve Faculty of the Victorian College Professor Richard Roush of the Arts and Melbourne BSc Ghent MBA KU Leuven (BE) BSc UC Davis PhD UC Berkeley PhD Chicago Conservatorium of Music Professor Barry Conyngham AM Melbourne Law School BA MA (Hons) Syd DMus Melb Professor Carolyn Evans CertPostdocStud, USCD BA LLB (Hons) Melb PhD Oxon 075

Landscaping outside northern facade by Peter Bennetts

Pro vice-chancellors

President of Academic Board Pro Vice-Chancellor (Engagement) Pro Vice-Chancellor (Research Professor Ruth Fincher Professor Ian Anderson Collaboration and Infrastructure) BA (Hons) Melb MA McM MBBS Melb PhD La Trobe Professor Elizabeth Sonenberg PhD Clark FASSA BSc PhD Monash GDipComp Melb Pro Vice-Chancellor (Graduate Vice-President of Academic Board and International Research) Pro Vice-Chancellor (Research Professor Rachel Webster Professor Richard Strugnell Partnerships and External Relations) BSc (Hons) Monash MSC Sus BSc (Hons) PhD Monash FASM Professor Mark Hargreaves PhD Cantab IAU ASA AAS BSc Melb MA BallSU PhD Melb Pro Vice-Chancellor (International) FESSA FACSM Pro Vice-Chancellor (Academic) Professor Simon Evans Professor Richard James BSc (Hons) LLB (Hons) Syd BSc Melb DipEd Melb SC Med PhD Cantab Ded Melb FACEA Pro Vice-Chancellor Pro Vice-Chancellor (Research Capability) (Educational Innovation) Professor Julie Willis Professor Gregor Kennedy BPD BArch (Hons) PhD Melb BA (Hons) UoM PhD Melb 076 UNIVERSITY ANNUAL GOVERNANCE REPORT 2014

University governance

The University of Melbourne was established by an Act of the Victorian Parliament in April 1853.

Since then it has been governed by successive Acts, the most recent being the University of Melbourne Act 2009 (‘Act’). The Act has been amended by the Education Legislation Amendment (Governance) Act 2012 which received royal assent on 4 December 2012 with the amendments to taking effect from 1 January 2013.

Pursuant to the Act, the primary responsibilities of Council as the governing body include:

(a) Ensuring that the University is managed (k) Approving the appointment of the (e) To serve the Victorian, Australian and lawfully, ethically and prudently Vice-Chancellor, Provost, Deputy international communities and the public Vice-Chancellors (including Provost), interest by: (b) Approving the University’s strategic Deans, Senior Vice-Principal and other and business plans, and specifically i. enriching cultural and community life members of the professional staff as the strategic goals and financial objectives specified from time to time ii. elevating public awareness of contained therein educational, scientific and artistic (l) Determining any matters referred to it by (c) Deciding the expenditure authorisation developments, and the Vice-Chancellor or the Board, and limits to be delegated to the Vice- iii. promoting critical and free enquiry, Chancellor and other senior officers (m) Ensuring that all external informed intellectual discourse and of the University, and approving accountabilities are met. public debate within the University expenditure above those levels and in the wider society (d) Approving any significant changes to the OBJECTIVES OF THE UNIVERSITY (f) To use its expertise and resources organisational structure of the University Section 5 of the Act states that the to involve Aboriginal and Torres Strait (e) Determining what academic authorities objectives of the University are: Islander people of Australia in its teaching, are to be delegated to the Board learning, research and advancement (a) To provide and maintain a teaching of knowledge activities and thereby (f) Overseeing the establishment of University and learning environment of excellent contribute to: charitable trusts and the proper discharge quality offering higher education at of University trust obligations an international standard i. realising Aboriginal and Torres Strait Islander aspirations; and (g) Approving investments and strategic (b) To provide vocational education and commitments that may have a material training, further education and other forms ii. the safeguarding of the ancient effect on the assets, financial performance of education determined by the University and rich Aboriginal and Torres or operations of the University and any to support and complement the provision Strait Islander cultural heritage material change in the nature of the of higher education by the University (g) To provide programs and services in business or role of the University (c) To undertake scholarship, pure and a way that reflects principles of equity (h) Monitoring the decisions and actions of applied research, invention, innovation, and social justice the Vice-Chancellor and the performance education and consultancy of international (h) To confer degrees and grant other awards of the University to ensure satisfactory standing and to apply those matters to progress is being made towards the the advancement of knowledge and to the (i) To utilise or exploit its expertise vision, strategic goals and financial benefit of the wellbeing of the Victorian, and resources, whether commercially objectives of the University as reflected Australian and international communities or otherwise. in approved plans (d) To equip graduates of the University The governance of the University of (i) Approving the University master plan to excel in their chosen careers and to Melbourne, subject to the provisions contribute to the life of the community of the Act, is detailed in a Council Standing (j) Monitoring relations between Resolution (1.3). Part of that Standing the University, governments Resolution covers Council committees. and the external community 077

Governance structure

COUNCIL

Faculties Council Other Interdisciplinary Semi- Academic and Subsidiary Standing Academic Research Autonomous Board Graduate Companies Committees Units Institutes Bodies Schools

Faculty of Academic Institute for a Australian Music Audit Architecture, Australia India Programs Broadband Enabled Asialink Examinations Committee Building and Institute Committee Society Board (Vic) Ltd Planning

Bio 21 Molecular Buildings and Australian National Appeals Science and Melbourne Estates Faculty of Arts Carlton Connect Academy of Music Committee Biotechnology Energy Institute Committee Ltd Institute

Council Melbourne School of Faculty of Melbourne Materials Nominations Archives Graduate Research Ian Potter Melbourne Business Business and Institute and Governance Advisory Board (disestablished Museum of Art School Ltd Economics Committee as of 31 Dec 2014)

Faculty of Information Melbourne Finance Medicine, Nossal Institute Melbourne International Technology University Committee Dentistry and for Global Health Neuroscience Institute House Committee Publishing Ltd Health Sciences

Libraries and Honours Academic Faculty School of Melbourne Melbourne Social MU Student Medley Hall Committee Resources of Science Custom Programs Equity Institute Union Ltd Committee

Faculty of Indigenous Veterinary Science Affairs Advisory Melbourne (Faculty Melbourne Melbourne Theatre Committee Custom Programs of Veterinary and Sustainable Nossal Institute Ltd Company (disestablished Committee Agricultural Society Institute 6 Oct 2014) Sciences from 1 Jul 2014)

Faculty of the Victorian College Research Legislation and of the Arts and Melbourne UOM Higher Degrees Trusts Committee Melbourne University Sport Commercial Ltd Committee Conservatorium of Music

Remuneration Selection Melbourne and Employment Melbourne Dental Procedures Graduate School Veterinary Hospital Conditions Clinic Ltd Committee of Education Committee

Teaching University and Learning Melbourne of Melbourne Development Law School Foundation Committee

Teaching and Melbourne University Risk Learning Quality School of Committee Assurance Engineering Committee

Melbourne School of Land VCA Integration and Environment Committee (disestablished as of 1 Jul 2014) 078 UNIVERSITY ANNUAL GOVERNANCE REPORT 2014

Council Nominations and Remuneration and Employment Mixed representation Governance Committee Conditions Committee committees Chair: Ms Elizabeth Alexander Chair: Ms Elizabeth Alexander Council Nominations and Governance Remuneration and Employment Reflecting the value of balanced input, most Committee advises Council on the overall Conditions Committee exercises major University Council committees are of governance of the University and on matters governance responsibilities in the oversight mixed composition, combining external and relating to selection and appointment of of remuneration, staff conditions and internal Council members, who bring special members of Council, as well as considering benefits, and other matters relating to knowledge or skills to the committee’s tasks. proposed amendments to the Act. employment policy. Within its delegated authority, the Committee acts on behalf Finance Committee of Council in those matters. Chair: Ms Elizabeth Alexander Finance Committee exercises governance University of Melbourne responsibilities in respect of the University’s Foundation (established April 2013) External member financial and business affairs, including Chair: The Hon Justice John Middleton committees monitoring the financial risk and performance The University of Melbourne Foundation of the University’s subsidiaries and assists the Council in exercising due Although the Chancellor and the Vice- commercial ventures. Within delegated care, diligence and skill in managing and Chancellor are ex officio members of all authority, the Committee acts on behalf administering philanthropic funding from University bodies, certain committees are of Council in those matters. The Investment donors. Its main functions are to ensure otherwise composed wholly of external Management Committee reports to effective use of gifts, bequests and pledges members. From time to time Council may Council through the Finance Committee. received and to support the work of existing foundations, funds, boards and advisory establish an ad hoc Due Diligence Committee Honours Committee to consider a specific issue and, if Council groups associated with gifts received Chair: Ms Elizabeth Alexander so determines, such a committee may by the University. Honours Committee nominates, considers be made up exclusively or predominantly University Risk Committee of external members. and recommends on behalf of Council, candidates for honorary degrees, medals Chair: Mr Tony Peake for exceptional service, and the appointment University Risk Committee supports of eminent scholars. It also advises on other Council in carrying out its accountability honours and awards in recognition of service for overseeing and monitoring assessment to the University or the community generally. and management of risk across the Council committees University. The Committee advises Indigenous Affairs Advisory Committee on the format of the risk management Audit Committee (disestablished 6 Oct 2014) framework appropriate for the University Chair: Mr John Wilson Chair: Mr Ross McPherson and monitors and reviews implementation Audit Committee oversees the University’s The Indigenous Affairs Advisory Committee of risk management practices within that external audit program, recommends the advises on matters relating to the University’s framework. The Committee advises Council, annual financial statements for approval, relationship with Indigenous communities in and other committees as appropriate, monitors the University response to the Victoria and across Australia. It advises on significant risks that are unable to annual audit and, jointly with the University Council about opportunities to create be appropriately managed. Risk Committee, oversees the annual internal awareness of contemporary Indigenous audit program. educational issues and on collaborative VCA Integration Committee Chair: Mr Ian Wilcock Buildings and Estates Committee opportunities relating to Indigenous education including Indigenous affiliations. VCA Integration Committee was Chair: Mr Robert Johanson established by a Heads of Agreement Buildings and Estates Committee exercises Legislation and Trusts Committee in January 2007. The Committee reviews governance responsibilities on behalf of Chair: The Hon Justice John Middleton and advises Council at least annually on Council in the oversight of the planning, Legislation and Trusts Committee advises whether integration between the University development and stewardship of the Council on the appropriate form for draft and the Victorian College of the Arts is University’s buildings, infrastructure and statutes and regulations of Council and proceeding in accordance with the Heads open spaces on all campuses. oversees the University’s stewardship of Agreement. The Committee is chaired of endowments and trusts. in alternate years by a member of Council and a member of the VCA Advisory Board. 079

01 Entry into suspended studio by Peter Bennetts Council members’ attendance at Council meetings 02 SE facade by John Gollings

Category of Leave of 01 Council Member Council Meetings 2013 Appointment Absence

Eligible to Attend Attended

Chancellor Ms E Alexander 9 9

Vice-Chancellor Professor G Davis 9 9

Ex Officio – Professor R Fincher 9 9 President of Academic Board

Six persons Dr David Kemp 2 2 appointed by (appointed 7 Oct 2014) the Governor- in-Council Ms D Harman 9 3 1 Mr R Johanson 9 8 (Minister’s appointment as of 4 Aug 2014)

Mr A Peake 9 5 1

Mr J Wilson 9 9 02 Vacancy

Six persons Professor R Batterham 9 5 appointed by Council Mr R McPherson 9 6 Justice J Middleton 9 4 1

Mr M Myer 9 7

Ms E Ritchie 9 8

Vacancy

INDEMNITY FOR COUNCIL

Pursuant to Section 19 of the Act, the University of Melbourne indemnifies members of Council and University committees in respect of acts or omissions in good faith in the exercise of their powers or duties. 080 UNIVERSITY ANNUAL GOVERNANCE REPORT 2014

Academic governance ACADEMIC BOARD FACULTY OF ARCHITECTURE, BUILDING AND PLANNING Academic Board is established by Council under the Act and in Statute 4.1 – Academic Faculty of Architecture, Building Board. Reporting directly to Council, its and Planning is structured as primary functions are the supervision and a single-department faculty, development of all academic activities of containing one graduate school: the University, including maintenance of high standards of teaching and research. The Melbourne School of Design Board is also responsible for development (graduate school) of academic and research policy. President of Academic Board is an annually elected FACULTY OF ARTS position and is supported by a Vice-President and Deputy Vice-President. Faculty of Arts comprises the following graduate schools, schools and institute: President of Academic Board Professor Ruth Fincher »» Graduate School of Humanities and BA (Hons) Melb MA McM. PhD Clark FASSA Social Sciences (graduate school) »» Melbourne School of Government Vice-President of Academic Board (graduate school) Professor Rachel Webster – School of Culture and Communication BSc (Hons) Monash MSC Sus. PhD Cantab IAU ASA AAS – School of Historical and Philosophical Studies Deputy Vice-President of Academic Board Professor Nilss Olekalns – School of Languages and Linguistics BEc Adelaide MA UWO MEc ANU – School of Social and Political Sciences PhD La Trobe – The Asia Institute Standing Committees of Academic Board report to the Board after every meeting on matters within their remit as defined by their FACULTY OF BUSINESS AND ECONOMICS terms of reference. Academic Board meets Faculty of Business and Economics regularly and in 2013 met eight times, from consists of the following graduate February to December. school, departments and institute:

FACULTIES, SCHOOLS AND »» Melbourne Business School (graduate school) OTHER ACADEMIC UNITS »» Department of Accounting In December 2014, the University of and Business Administration Melbourne comprised 10 faculties (including »» Department of Business Administration two graduate schools established as »» Department of Economics faculties), the faculty of Melbourne School of Land and Environment having been »» Department of Finance disestablished as of 1 July 2014. Other »» Department of Management and Marketing academic units are: Australia India Institute, »» Melbourne Institute Bio21 Molecular Science and Biotechnology Institute, The Nossal Institute for Global Health, and the School of Melbourne Custom Programs. 081

FACULTY OF MEDICINE, DENTISTRY Departments – Melbourne FACULTY OF SCIENCE AND HEALTH SCIENCES (MDHS) School of Health Sciences Faculty of Science includes Audiology and Speech Pathology Faculty of Medicine, Dentistry and the following graduate school, Health Sciences consists of the following Nursing schools and departments: graduate schools, departments and Physiotherapy Melbourne Graduate School other academic units: Social Work of Science (graduate school)

Graduate Schools Departments – Faculty »» School of Botany »» School of Chemistry Melbourne Medical School Medical Biology (Walter and Eliza Melbourne Dental School Hall Institute of Medical Research) »» School of Earth Sciences Melbourne School of Health Sciences Florey Department of Neuroscience »» School of Physics and Mental Health Melbourne School of Population Department of Forest and Ecosystem and Global Health Medical Bionics Science (from MSLE as of 1 Jul 2014) Melbourne School of Psychological Sciences The Sir Peter MacCallum Department of Oncology »» Department of Genetics Departments – Melbourne »» Department of Mathematics and Statistics Medical School Melbourne Medical »» Department of Optometry School Academic Centres Anatomy and Neuroscience and Vision Sciences Austin Academic Centre Biochemistry and Molecular Biology Department of Resource General Practice Biomedical Academic Centre Management and Geography Medicine at Austin Eastern Hill Academic Centre (from MSLE as of 1 July 2014) Medicine at Royal Melbourne Hospital General Practice and Primary »» Department of Zoology Health Care Academic Centre Medicine at St Vincent’s Hospital Northwest Academic Centre Medicine at Western and Northern FACULTY OF VETERINARY SCIENCE Royal Children’s Hospital Academic Centre Microbiology and Immunology (FACULTY OF VETERINARY Royal Melbourne Hospital Academic Centre Obstetrics and Gynaecology AND AGRICULTURAL SCIENCES Rural Health Academic Centre Ophthalmology AS OF 1 JULY 2014) Otolaryngology Melbourne Medical Faculty of Veterinary and Agricultural Paediatrics School Clinical Schools Sciences comprises the Melbourne Pathology St Vincent’s Hospital Clinical School School of Veterinary Science and, from 1 July 2014, the Department of Agriculture Pharmacology and Therapeutics Royal Melbourne Hospital Clinical School and Food Systems (from MSLE). The Physiology Austin Hospital Clinical School Veterinary Hospital became a semi- Psychiatry Northern Clinical School autonomous body under the new Statute 8.1, which came into effect Radiology Western Hospital Clinical School on 22 December 2009. Rural Health Rural Clinical School Surgery at Austin Surgery at Royal Melbourne Hospital Surgery at St Vincent’s Hospital Surgery at Western and Northern 082 UNIVERSITY ANNUAL GOVERNANCE REPORT 2014

FACULTY OF THE VICTORIAN COLLEGE MELBOURNE GRADUATE MELBOURNE SCHOOL OF LAND OF THE ARTS AND MELBOURNE SCHOOL OF EDUCATION (MGSE) AND ENVIRONMENT (MSLE) CONSERVATORIUM OF MUSIC (VCA&MCM) (DISESTABLISHED AS OF 1 JULY 2014) Melbourne Graduate School of Education Faculty of the Victorian College of the Arts is a graduate school established as a faculty. Melbourne School of Land and Melbourne Conservatorium of Music The Graduate School includes: and Environment consisted is a single faculty comprising two divisions of three departments: each headed by a Director: »» Centre for the Study of Higher Education »» Department of Agriculture Melbourne Conservatorium of Music »» LH Martin Institute for Higher Education and Food Systems Leadership and Management The faculty also has three specialist centres: »» Department of Forest and Ecosystem Science »» Centre for Cultural Partnerships MELBOURNE SCHOOL »» Department of Resource »» Centre for Ideas OF ENGINEERING (MSE) Management and Geography »» Wilin Centre for Indigenous Arts Melbourne School of Engineering The School operated from four campuses: Victorian College of the Arts, consists of the following graduate Burnley, Creswick, Dookie and Parkville. comprising four schools: school, departments and institute: »» School of Art Melbourne School of Information MELBOURNE LAW SCHOOL (MLS) »» School of Contemporary Music (graduate school) »» School of Film and Television Melbourne Law School is a graduate »» Department of Chemical and school established as a faculty. »» School of Performing Arts Biomolecular Engineering »» Department of Computing and Information Systems »» Department of Electric and Electronic Engineering »» Department of Infrastructure Engineering »» Department of Mechanical Engineering »» Melbourne Engineering Research Institute 083

Other academic units AUSTRALIA INDIA INSTITUTE THE NOSSAL INSTITUTE FOR GLOBAL HEALTH The objectives of the Australia India Institute are to facilitate coordination and development The Nossal Institute for Global Health (4) Develop relationships with relevant of studies in Australia of Indian culture and its contributes to the improvement of global government departments and social, scientific and economic dimensions, health through research, education, inclusive instrumentalities, educational institutions, and to enhance understanding and development practice, and training of future and government and private research cooperation between Australia and India leaders in the fields of health sciences. agencies, both within Australia and in these matters. internationally INTERDISCIPLINARY (5) Promote, and attract funding for, BIO 21 MOLECULAR SCIENCE RESEARCH INSTITUTES interdisciplinary research in a recognised AND BIOTECHNOLOGY INSTITUTE area of strength of the University Institute for a Broadband-Enabled Society Bio21 Molecular Science and Biotechnology (6) Encourage, design and consider Institute (Bio21 Institute) is a multidisciplinary Melbourne Energy Institute proposals for research projects, particularly collaborative research research centre specialising in medical, Melbourne Materials Institute agricultural, and environmental biotechnology. projects across the University Melbourne Neuroscience Institute (7) Support research activities in selected MELBOURNE CUSTOM PROGRAMS Melbourne Social Equity Institute priority areas, specific to their respective fields of operation Melbourne Sustainable Society Institute School of Melbourne Custom Programs (8) Provide a point of contact for University provides consultancy services, professional In addition to the particular objectives and and external parties interested in their education and custom programs to the functions related to their respective fields field of operation corporate and government sectors and of operation, Institutes have the following staff of the University. objectives in common: (9) Provide advice to the University on any matter which it considers appropriate (1) Respond to societal concerns relating to the field of operation of MELBOURNE SCHOOL OF GRADUATE which require interdisciplinary the Institute. RESEARCH (DISESTABLISHED AS research approaches OF 31 DEC 2014) (2) Increase public awareness of, and debate on, critical issues in their field Melbourne School of Graduate Research provides enrichment activities and support (3) Raise the profile of University research as mechanisms that contribute to the success the basis for various forms of partnerships of postgraduate research students and consequently enhances the research reputation of the University. 084 ANNUAL REPORT 2014

Statutory reporting

Old meets new – the facade of the Elisabeth Murdoch building seen from the Melbourne School of Design 085

Ensuring a safe and healthy working environment on an off campus – student at Wombat Flux Tower Mega-research Site’

01 Statement on Occupational Health and Safety (OHS) matters

The University of Melbourne has a broad OHS risk profile, including specific risks associated with laboratory operations, workshop operations, chemical storage, handling and use, and manual handling.

Supported by the Occupational Health and Safety Management Plan 2014-2019, the Health and Safety Policy requires the University to provide a safe and healthy working and learning environment for all staff, contractors, students and visitors. The plan sets out OHS goals against four strategic objectives.

Occupational Health 2014 Outcomes Summary and Safety Strategic Plan

Objective Outcome

Reduce occurrence or re-occurrence »» Achieved 25.0% reduction in MSD claims >5 days lost. of workplace injuries and illnesses. »» No change in claims >100 days lost. »» 12.0% increase in incidents reported.

Continually improve compliance with OHS »» Nil improvement notices issued by WorkSafe legislation and effective implementation »» Nil prohibition notices issued by WorkSafe of the University’s OHSMS.

Improve OHS leadership and culture »» Revision of OHS Roles and Responsibilities training for senior leaders completed. throughout the University. »» 7 participants completed the revised program.

Provide high quality consistent and »» OHS sections of quality performance were not measured in 2014. practical OHS information and advice »» Two University-wide systems non-conformance finding issued to the University community. during external audit of OHSMS. 086 STATUTORY ANNUAL REPORTING REPORT 2014

OCCUPATIONAL HEALTH AND SAFETY Complementing the local OHS staff, Membership of the University-wide MANAGEMENT SYSTEM (OHSMS) specialist OHS advisory services Occupational Health and Safety Committee continued to be provided to all budget (OHSC) includes equal numbers of employer The University of Melbourne’s OHSMS divisions through the OHS and Injury and employee representatives. The employee was subject to minor review in 2014. Management Department. representatives are elected from the pool A small number of OHS policies, procedures, of University employee Health and Safety guidance materials and templates were CONSULTATIVE FRAMEWORK representatives. Three Health and Safety reviewed to meet new internal policy representatives were elected for the first time requirements and changes in legislation. Employees continue to be represented to the OHSC during 2014. The OHSC met by elected and trained employee Health four times during 2014, with minutes of the meetings published on the University’s OCCUPATIONAL HEALTH and Safety representatives. There were safety website. AND SAFETY RESOURCES approximately 50 elected employee Health and Safety representatives holding office In 2014, each budget division appointed in 2014. Each budget division has a Health TRAINING local staff to provide OHS support services. and Safety Committee. Membership of Higher risk budget divisions appointed these committees includes both employer Over 12000 attendees undertook local OHS managers, and lower-risk budget and employee representatives. OHS-related training throughout 2014. divisions appointed part-time local OHS advisory staff.

Occupational health and 2012–2014 safety training provided

Training Course Type Attendees

2012 2013 2014

Roles and Responsibilities – 3428 3419 3437 Supervisory and non-supervisory staff

Health and Wellbeing, Change 2486 1887 4054 Management and Psychosocial

Risk Management and 1509 1853 2698 Emergency Management

Chemical Safety, Radiation Safety 1561 1019 682 and Compressed Gas Safety

Manual Handling and Ergonomics 888 1027 863

First Aid 180 455 483

Personal Protective Equipment 123 259 250

Health and Safety Representative 9 5 5 087

EMERGENCY PREPAREDNESS RADIATION MANAGEMENT OCCUPATIONAL HEALTH AND RESPONSE SURVEILLANCE AND PROGRAMS During 2014 the University’s Electromagnetic The University of Melbourne’s emergency Radiation Committee met on four occasions. The University of Melbourne’s OHS and preparedness and response procedures The committee’s significant achievements Injury Management Department coordinates are based on the requirements of AS3745 in 2014 included: and implements health monitoring and Planning for Emergencies in Facilities. vaccination programs. These include »» Increasing the scope of the committee The University continued to implement its to include expertise for low energy regulatory health surveillance and vaccination campus-wide and local building emergency electromagnetic fields; programs to support the University’s plans. Bushfire response plans have also compliance obligations, and voluntary been developed for the University’s rural »» Strengthening relationships and vaccination programs to reduce the campuses at Dookie and Creswick. collaboration with other Universities incidence of staff illness. with respect to radiation safety. In 2014 building evacuation drills were During 2014, over 2000 Health and Hazard undertaken in each occupied building. Assessment questionnaires were reviewed by A review of the effectiveness of each an Occupational Health Nurse, resulting evacuation is undertaken by the building in 189 face-to-face consultations and over Chief Warden. 400 telephone consultations with staff and students.

Occupational Services Provided: Health and Service 2012-2014

Service provided 2012 2013 2014 OVER

Influenza vaccinations 2680 3274 3491 Spirometry 314 177 84 2000 Audiometry 114 82 66 health and hazard assessment Pathologies and biological screening 206 71 35 questionnaires Q Fever vaccinations 18 148 156 were reviewed.

WORKERS COMPENSATION SELF-INSURANCE APPROVAL AND REGULATORY ACTIVITY AND INJURY MANAGEMENT WORKERS COMPENSATION COMPLIANCE The University continued to work An early intervention approach has ensured The annual claims management audit cooperatively with OHS regulators, that return-to-work plans were developed confirmed that 96.5 percent of samples in particular WorkSafe Victoria which for all compensable injuries during 2014. The conformed to the requirements of the was the most active OHS regulator at the Injury Management Unit continued to assist University’s self-insurance licence and the University throughout the year. WorkSafe staff with non-compensable injuries and other Accident Compensation Act 1985 (Vic) activity consisted primarily of visits following health-related conditions with the aim to and the Workplace Injury, Rehabilitation incident notifications to WorkSafe and two ensure successful return-to-work outcomes. and Compensation Act 2013 (Vic). requests from an external party. The University’s approval for worker’s compensation self-insurance is approved until 2017. 088 STATUTORY ANNUAL REPORTING REPORT 2014

WorkSafe 2012-2014 Victoria Activity

Action 2012 2013 2014

Visits to the University’s 9 12 6 workplaces by WorkSafe

Prohibition notices issued by WorkSafe 0 1 0

Improvement notices 8 0 0 issued by WorkSafe

Occupational health 0 0 0 and safety convictions

WorkSafe intervention projects 1 0 0

Service request by the University 1 0 0

OCCUPATIONAL HEALTH AND SAFETY PERFORMANCE

To ensure a safer work environment, OHS needs in their workplaces. All significant performance reports are provided senior incidents are reviewed in detail and, executives to assist in identifying problem where appropriate, action plans put in areas, resource requirements and training place to minimise risk of reoccurrence.

Occupational Health and 2012-2014 Safety Incident Statistics

Performance indicator 2012 2013 2014

Reported incidents (including 1151 1177 1319 injury and illness)

Days lost due to reported injuries 480 253 393

Number of workers 90 86 80 compensation claims

Number of lost time incidents 27 18 18

Lost time injury frequency rate (LTIFR) 1.7 1.22 1.19

Work-related fatalities 0 0 0 089

Notifications INCIDENTS REQUIRING 2012-2014 NOTIFICATION TO WORKSAFE to WorkSafe

The Occupational Health and Safety Act Performance 2004 (Vic) requires the University to notify Event 2012 2013 2014 WorkSafe Victoria of all serious injuries, indicator dangerous occurrences and deaths at the workplace. A breakdown of these Serious Injury or Illness Immediate medical treatment 8 7 9 incidents is outlined in the table at right. resulting from a laceration An investigation of each incident has either Serious Injury or Illness Immediate medical treatment 1 3 0 commenced or been completed. Corrective resulting from temporary loss and preventative actions were instigated to of bodily function prevent or reduce the risk of reoccurrence. Serious Injury or Illness Admission as an inpatient 2 0 1 EXTERNAL OCCUPATIONAL HEALTH in a hospital AND SAFETY MANAGEMENT SYSTEM Serious Injury or Illness Medical treatment within 1 1 1 (OHSMS) AUDITS 48 hours of exposure to a substance Conformance of the University of Melbourne’s OHSMS to the National Self-Insurers Audit Dangerous Occurrence Uncontrolled implosion, 0 3 2 Tool (NAT) is one of the requirements of explosion or fire the University’s Workers Compensation Self-Insurance approval. During 2014, Dangerous Occurrence Escape, spillage or leakage 1 0 0 external auditors conducted a recertification of any substance, including audit against the criteria of the NAT and dangerous goods AS4801 Occupational Health and Safety Dangerous Occurrence Fall or release from a height of 1 3 2 Management Systems. any plant, substance or object The audits included the management of central OHSMS, three academic Death at a workplace Non-work related fatalities 0 1 0 divisions, two administrative divisions Total All incidents 14 18 15 and one wholly-owned subsidiary. Eight non-conformances were identified with in the areas audited. All audited areas with non-conformances were required to develop action plans to address adverse audit findings. All non-conformances were addressed and subsequently reviewed by the external auditors confirming the ongoing certification of the University’s OHSMS to both the NAT and AS4801.

INTERNAL OCCUPATIONAL HEALTH Internal 2012-2014 AND SAFETY MANAGEMENT SYSTEM Audit Results Percentage of total (OHSMS) AUDITS audited sample

A program of internal audits against the NAT criteria continued throughout 2014. Over Performance indicator 2012 2013 2014 1000 individual criteria were audited across the University’s divisions, semi-autonomous Conformance 73.2% 64.6% 62.5% bodies and wholly-owned subsidiaries. Overall, the University had 1.5 percent of Non conformance 3.8% 1.6% 1.7% the audit criteria in non-conformance and less than 15.9 percent requiring correction. Requires correction 10.4% 11.6% 16.9%

The percentage of adverse audit findings Area for improvement 9.1% 6.8% 8.1% (non-conformance, requires correction and area for improvement) increased Not verifiable/Not applicable 3.5% 15.4% 10.8% slightly from 2013. Note in 2014 there Total sample audited 2454 1981 783 was a more rigorous audit process. 090 STATUTORY ANNUAL REPORTING REPORT 2014

02 Statement on University’s Risk Management Strategy

Identifying and managing risk is a core »» Legislation and Trusts Committee »» commercial activities coming within section component of the University’s Accountability – oversees trusts policies and processes. 8(3)(h) of the Act, or activities which the and Performance Management Cycle. University otherwise ‘considers sufficiently Risk management is separately addressed At management level, risk is monitored important or of interest to list’, that is as at a governance and management level and managed through the Risk Management per the requirement in paragraph 8(a)(i) to reflect the University’s commitment Committee. of the Commercial Activities Guidelines. to achieving its strategic goals. Academic and administrative divisions The guideline as to the meaning of undertake annual strategic risk assessments At a governance level, a risk management ‘significant’ is therefore used by each as part of the business planning process, framework (based on Australian/New Zealand of the University controlled entities, and with mitigation a core responsibility of all Risk Management Standard AS/NZS ISO entities under Section D of the Register senior managers. In addition, the University 31000-2009) was approved by Council with are made on that basis. However, for ease has a dedicated program for managing several Council committees exercising a of administration, an amount of $10 million specialist risk in the areas of Occupational governance role on behalf of Council to (cash) in committed or likely expenditure over Health and Safety, Biosafety, Insurance, ensure that designated risk accountabilities the life of the project is used as a mandatory WorkCover, IT and Information Services, were being properly exercised. The University threshold above which full details need Fraud, Business Continuity Planning and Compliance Officer also reports regularly to be brought to the attention of Finance Crisis Management and Emergency to Council on compliance issues. Committee, in addition to activities that may Management Planning. Membership of Council committees otherwise qualify as ‘significant’ by reference comprises external members of Council to the criteria outlined by Finance Committee. MAINTAINING REGISTER OF COMMERCIAL and other external appointees with relevant In relation to Paragraph 8(a)(iv) of Guideline expertise in business and commerce, AND CORPORATE ACTIVITIES 4, beyond normal oversight responsibilities audit and compliance, risk management, of Finance Committee, to determine whether The Commercial and Corporate Activities financial management, and the law. any commercial activity was meeting its Register is required for the purposes purposes and objectives, a review was Key Council committees in this regard are: of compliance by the University with its undertaken in early 2014 of the financial Commercial Activities Guidelines, as viability of the Melbourne Dental Clinic Ltd. »» Audit Committee – oversees the approved by the Victorian Government In February 2014, enrolments and fee University’s external audit program, and mandated under the terms of the revenue had increased considerably. The recommends the annual financial University of Melbourne Act 2009 (the Act). statements for approval, monitors progress of the Clinic is being monitored University response to the annual audit and The University Secretary is responsible by the Finance Committee as part of a jointly with the University Risk Committee for maintaining the register, and the Chief 12-month monitored trial. Financial Officer for submitting proposals oversees the annual internal audit program. The information in this report is current for University participation in a company The Audit Committee reports to Council. to 15 December 2014. or involvement in a commercial activity to »» University Risk Committee – supports Finance Committee of Council, in accordance Council in carrying out its accountability with the terms of a compliance framework for overseeing and monitoring the first approved by Council in December 2010. assessment and management of risk across the University. The Committee In relation to investments or other activities advises on the adequacy of the risk coming within the terms of the Commercial management framework and monitors Activities Guidelines, Finance Committee and reviews implementation of risk has determined that the University use the management practices within that following as a guideline for ‘significant’: framework. »» activities that comprise in excess »» Finance Committee – Oversees of 2.5 percent of University revenue the University’s financial performance, (approximately $37.5 million) or net position, management, risks and assets (approximately $87.5 million), or sustainability. The Committee monitors the adequacy of financial policies. »» activities involving third party relationships It oversees the management of the and that have the potential to pose University’s endowment through significant reputational risk to the isub-committee, Investment University, or Management Committee. 091

02 SECTION A University controlled entities

(All bodies below are ongoing entities with no anticipated termination date. University of Melbourne appointments to the boards of its controlled entities are covered by its Directors and Officers Liability Policy.)

(High, Medium or Low)

Members of University Other University Level of Level of Entity Principal Objectives staff or Council serving appointees serving as Financial Reputational as directors or officers directors or officers Risk Risk

Australian Music To represent in Victoria the Mr James Bolton Mr John Evans Low Low Examinations Australian Music Examinations Dr Joel Brennan Ms Alison Sewell Board as the State Committee (from 25 August 2014) Board (Vic) Ltd for the purposes of music Professor Barry Conyngham examinations. Professor Susan Wright Ms Elizabeth Mitchell (from 5 November 2014) To aid, promote and assist (from 1 May 2013) music, music education and the appreciation of music.

Australian National To operate as a national centre Professor Barry Conyngham Mr Ian McRae Low Low Academy of Music of excellence in practical music Mr Adrian Collette Ltd education and training. Professor Gary McPherson and its subsidiary, To provide practical music education Professor Barry Sheehan ANAM Foundation and training for outstandingly Ltd talented music students. Professor Margaret Sheil

Melbourne Business To undertake the education of Professor Glyn Davis Mr Tony Burgess Medium Low School Ltd (not a University graduates and others Professor Paul Kofman Corporations Act in management studies. subsidiary) and its Professor Elizabeth To conduct post-experience Sonenberg subsidiaries, MBS courses for practising managers. Foundation Ltd and Professor Robert Wood To conduct postgraduate research Mt Eliza Graduate Mr Ian Marshman School of Business programs into management and and Government related areas, and to promote Limited licence, develop and apply the results of research activities.

Melbourne To offer students a world-class Mr Ian Marshman Mr James Cousins Medium Low Dental Clinic Ltd learning experience while doubling Professor Geoff McColl Ms Lin Martin as a ‘showroom’ to the global dental industry. Professor Eric Reynolds Mr Matteo Zema To allow students to be exposed Dr John Matthews to direct patient contact in a private (from 4 February 2014) clinical environment.

Melbourne University To publish the best scholarly writing Mr Allan Tait Ms Louise Adler Low Low Publishing Limited from Australia and overseas, both Professor Peter McPhee Mr Brian Johns within and independent of the tertiary sector. Mr Tony Peake Mr Laurence Muller To develop and disseminate text and Ms Eda Ritchie image-based intellectual property in Ms Jacyl Shaw a variety of formats and media. To retain and develop Melbourne University Press and the Miegunyah Press as imprints of the company. 092 STATUTORY ANNUAL REPORTING REPORT 2014

(High, Medium or Low)

Members of University Other University Level of Level of Entity Principal Objectives staff or Council serving appointees serving as Financial Reputational as directors or officers directors or officers Risk Risk

MU Student To advance the education of Ms Elizabeth Capp Mr Graham Dennehy Low Low Union Limited students of the University by Ms Louise Doyle providing amenities, services and (to 27 July 2014) facilities for the benefit of students, utilising University funding and such Mr Rob Baker other revenue or reserves of the (from 28 July 2014) company as may be appropriate Mr Ross McPherson in the circumstances. Mr Chris White

Nossal Institute To undertake research, Mr Allan Tait Ms Judith Ascroft Low Low Limited development, education, training, Professor James McCluskey (to 30 May 2014) consultancy and other activities in regard to medicine, dentistry, health, Dr Krishna Hort health science and related areas. (from 1 June 2014) To provide facilities for study, research and education.

UoM Commercial To commercialise Professor Mark Considine Mr Geoffrey Rees Low Low Ltd (formerly UMEE educational services. Professor Glyn Davis Limited) and its (to 3 October 2014) subsidiary, UM Commercialisation Mr Ian Marshman Pty Ltd (to 31 March 2014) Professor James McCluskey Mr Allan Tait

UMELB Pte Ltd To assist with the marketing Ms Christine Fyfe Mr See Yong Beng Low Low and recruitment of students. Ms Carmel Murphy 093

02 SECTION B University business operations SEMI-AUTONOMOUS BODIES (STATUTE 8.1) – SECTION B1

(The entities below are ongoing semi-autonomous bodies within the University, where control and management are exercised by or under the direction of a board on behalf of Council. They are staffed by University employees, although the composition of the boards is as set out below, all of whom are covered by the University’s Directors and Officers Policy.)

(High, Medium or Low)

Members of University Other University Level of Level of Entity Principal Objectives staff or Council serving appointees serving Financial Reputational as board members as board members Risk Risk

Asialink To work with business, government, Professor Glyn Davis Mr Sid Myer Low Low philanthropic and cultural partners Professor Ross Garnaut (Regulation 8.1.R5) to initiate and strengthen Australia Asia engagement. Mr Mark Johnson Ms Jenny McGregor Professor Tony Milner Professor Kee Pookong Ms Alice Wong

Carlton Connect Carlton Connect combines Ms Karen Day Low Low (Regulation 8.1.R9) both a large-scale infrastructure Mr Robert Johanson development with a research and (Established innovation agenda that places Professor Iven Mareels 9 Dec 2013) explicit emphasis on external Mr Ian Marshman engagement and impact generation. Professor Jim McCluskey It is intended to foster wholly new ways of working with industry that will add a valuable new dimension to the University’s capabilities and reputation.

International House To be a place of residence, Professor Susan Elliott Mr David Prest Low Low education and corporate life (Regulation 8.1.R2) Associate Professor Jane Mr Joshua Wilson for students and to encourage Munro international understanding and friendship among students. Ms Alice Wong

Melbourne To develop new Australian writing Professor Barry Conyngham Ms Lyndsey Cattermole Low Low Theatre Company by the presentation of first-rate Professor Glyn Davis productions, as well as by Mr John Feder (Regulation 8.1.R1) Mr Ian Marshman a program of commissions, Mr Terry Moran workshops and dramaturgy. Professor Colin Masters Mr Derek Young To promote the development Mr Martyn Myer of an Australian repertoire. To present first class and original productions of classic works from the past. To operate on a commercial basis and as a professional theatre company. 094 STATUTORY ANNUAL REPORTING REPORT 2014

(High, Medium or Low)

Members of University Other University Level of Level of Entity Principal Objectives staff or Council serving appointees serving Financial Reputational as board members as board members Risk Risk

Melbourne To promote the benefits Professor Margaret Abernethy Mr Mitchell Anderson Low Low University Sport of healthy exercise. Professor Mark Hargreaves Mr Geoff Rees (Regulation 8.1.R7) To provide a wide range of (to 22 June 2014) Mr James Sutherland sporting opportunities for all Professor Richard James Dr Lynne Williams staff and students, including (from 23 June 2014) competition at the highest level. Mr Tim Lee To provide professional management of sport and Mr James Marburg recreation at the University. (to 22 June 2014) To develop and maintain sporting and Mr Andrew Gillies recreational facilities consistent with (from 23 June 2014) the University’s aspiration of being one of the finest universities in the world. To enable sporting clubs to maintain and develop their historical contribution to University life. To provide opportunity for engagement with alumni and the wider community.

The Ian Potter To promote and display art works Professor Jaynie Anderson Ms Sandra Beanham Low Low Museum of Art including the University’s collection. (to 16 November 2014) Ms Julie-Ann Cox (Regulation 8.1.R4) Professor Rachel Fensham Mr Nick Edwards (from 17 November 2014) Mr Mark Fraser Professor Barry Conyngham Mr John Wardle Professor Susan Elliott Ms Anita Trajkoski Ms Kelly Gellatly (from 17 November 2014) Ms Katerina Kapobassis Dr Chris McAuliffe (to 8 February 2013) Professor Antonio Sagona

The Medley Hall To be a place of residence, Ms Phillippa Connelly Ms Lin Martin Low Low of Residence education and corporate life Ms Jennifer Fraser Mr David Percival (Regulation 8.1.R3) for students and to encourage understanding and friendship Professor Philip Goad Ms Katrina Renard among students. Mr Gary McKenzie (from 25 August 2014)

The University To enable students in the courses Mr James Bolton Dr Elizabeth Campbell Medium Low of Melbourne for the degrees and diplomas of the Ms Diana Harrison Veterinary Hospital faculty to receive clinical instruction Dr Charles Foster Professor Ken Hinchcliff and training and to conduct research Dr Virginia Mansour (Regulation 8.1.R8) under the supervision of the school; Professor Eleanor Mackie to promote and encourage research Dr Caroline Mansfield Ms Alison Spencer in a hospital environment into Professor Ted Whittem diseases and disabilities affecting animals and to provide the facilities for such research; and provide veterinary services of a medical, surgical and pathological consultative nature to the community on a commercial basis. 095

02 SECTION B University business operations OTHER SIGNIFICANT BUSINESS OPERATIONS CONDUCTED BY THE UNIVERSITY – SECTION B2

(High, Medium or Low)

Members of University Other University Level of Level of Entity/Operation Principal Objectives staff or Council serving appointees serving Financial Reputational as board members as board members Risk Risk

Nil 096 STATUTORY ANNUAL REPORTING REPORT 2014

02 SECTION C Significant involvements with external corporations

Appointments made by the University to the boards of other corporations are covered by its Directors and Officers Liability Policy. As this section only lists ‘significant involvements’, the University (and its controlled entities) is a member of other external corporations, details of which are maintained by the University Secretary.

(High, Medium or Low)

Members of Other University Status Level of Level of University staff or appointees – Ongoing Entity Principal Objectives Financial Reputational Council serving as serving as or anticipated Risk Risk board members board members termination date

Australian The Australian Synchrotron is a N/A N/A Ongoing Medium Low Synchrotron world-class national research facility that Holding uses accelerator technology to produce Company a powerful source of light – x-rays and Pty Ltd infrared radiation – a million times brighter than the sun. The Australian Synchrotron’s mission is to enable science for the benefit of the community, by providing world-class synchrotron expertise and facilities.

Bio21 To develop and enhance the reputation Professor Ian Gust N/A Ongoing Low Low of Victoria as a leading academic centre Professor for the advancement of knowledge Douglas Hilton in fundamental areas of biology, medicine, science and technology. Professor Malcolm McConville In cooperation with other universities, educational and scientific institutions Professor Jeffrey and other persons, to conduct Zajac world-class training, financially viable biotechnology research and to facilitate the development and commercialisation of the results of that research.

UIIT Pty Ltd To provide seed funding to further Mr Ian Marshman N/A Ongoing Low Low develop promising research outcomes. (Mr Allan Tait, To assist with the commercialisation alternate) of such research outcomes.

UniSeed To provide management services Mr Ian Marshman N/A Ongoing Low Low Management to UIIT Pty Limited. (Mr Allan Tait, Pty Ltd alternate)

Universitas 21 To hold part of the issued share Mr Ian Marshman N/A Ongoing Low Low Equity Ltd capital of Universitas 21 Global.

Universitas 21 To be an on-line graduate school Mr Ian Marshman N/A Ongoing Low Low Global Pte Ltd that provides leading-edge access (Joint venture to educational programs designed between to meet the needs of the individuals Universitas and corporations in the information Equity and economy of the 21st century. MULI (Mampal) To build academic programs that incorporate the traditions and strengths of its founders and add the value of the internet as a powerful educational medium.

Universitas To provide a pre-eminent brand for Professor Glyn Davis N/A Ongoing Low Low 21 LBG educational services supported by a strong quality assurance framework. To allow member universities to pursue significant global initiatives that would be beyond their individual capabilities. 097

02 SECTION D Significant commercial activities of University controlled entities

The boards of University controlled entities monitor compliance with the University Commercial Activities Guidelines to the extent relevant to each such entity, and report to the University for inclusion in this section of the Register details of: »» subsidiaries (also appearing in Section A) »» commercial activities (where ‘significant’ or otherwise considered by the relevant board to be ‘sufficiently important or of sufficient interest to list on the Register’), and »» ‘significant’ involvements with external corporations.

Appointments made by a University controlled entity to the boards of other corporations are covered by the University’s Directors And Officers Liability Policy.

(High, Medium or Low)

Significant Members of Principal Other University Status University commercial University staff/ Level of Level of objectives of controlled Entity – Ongoing controlled activity Council serving Financial Reputational such activity/ appointees serving or anticipated Entity or external as directors/ Risk Risk involvement as directors/officers termination date involvement officers

Nil 098 STATUTORY ANNUAL REPORTING REPORT 2014

03 Conformity with the Building Act 1993 MAJOR PROJECTS (NEW AND EXISTING BUILDING WORKS)

The following mechanisms have been »» The University has promulgated One hundred and three projects, each with a implemented to ensure that new buildings procedures similar to those required value of more than $50 000, were issued with and works on existing buildings conform by the private sector for the issuing building permits. Of those, 47 projects were to building standards: of building permits. completed throughout 2013 and certificates of final inspection issued. The remaining 56 »» Property and Campus Services closely »» All projects are monitored by University projects are still under construction, due for examines each major project prior project managers and appointed completion in 2014. to the selection of a project team. consultants in order to ensure that projects comply with current building In addition, 171 projects were not subject »» Selected design consultants for regulations and statutory requirements. to certification of plans or building surveyor each project are University-registered involvement during construction. or Department of Infrastructure-registered »» Where required by the Building Code consultants and are required to ensure of Australia, an external building surveyor These included: compliance with University design is appointed for each project to provide »» infrastructure upgrades (24) requirements and statutory planning advice regarding building permits, requirements. certification of final inspection and »» equipment upgrades (14) occupancy permits. »» data upgrades (23) »» All design and management of project works are undertaken in accordance »» The University ensures that an asbestos »» minor works (110). with the University of Melbourne’s audit is carried out for each project prior to None of these projects come within the Project Management Procedures the commencement of construction work. jurisdiction of the Building Act 1993 or Manual and Design Standards. »» The Project Management Procedures required structural change necessitating Manual is used by University project building surveyor inspections. managers to ensure that University policy and procedures are followed in relation to works.

04 National competition policy and competitive neutrality requirements

The University has established guidelines and policies to practise competitive neutrality in relation to relevant business activities and has prepared resources including a Compliance Guide and staff bulletins to promote adherence to its obligations under the Competition and Consumer Act 2010 (Cth). Relevant information can be found on the University’s Research website and the Compliance Program website.

Brian Lewis Atrium Photo by Peter Bennetts 099

05 07 08 Compliance with the Protected Disclosure Carers Recognition Educational Services Act 2012 Act 2012 for Overseas Student The Victorian government introduced a new Through a range of policies, programs whistleblowers protection regime under the and training initiatives, the University Act (ESOS Act) 2000 Protected Disclosure Act 2012 (Vic) which demonstrates its commitment to ensuring commenced in February 2013 (replacing full compliance with the aims, objectives The University of Melbourne maintained the Whistleblowers Protection Act 2001(Vic)). and care relationship principles designed compliance with the requirements under to recognise carers under the Carers The Protected Disclosure Act 2012 (Vic) the Education Services for Overseas Recognition Act 2012 (Vic). In particular, (‘Act’) enables people to make disclosures Students Act 2000 (Cth). Implementation this year the University took all practicable about improper conduct by public bodies, of an improved student load monitoring measures to: process and enhancement to the student their staff and officers, or about detrimental portal delivered a more prominent and action taken in reprisal for a disclosure, Maintain and promote optimal carer’s accessible communication to international without fear of reprisal. The Act aims to leave and flexible working policies students regarding their rights and ensure openness and accountability by enabling carers to balance work and obligations. The University continued the encouraging people to make disclosures, their carer role. Staff may access up established practice to inform staff about and by ensuring their protection from to 20 days’ paid carer’s leave (cumulative the University’s obligations under the ESOS detrimental action when they do. per annum) and various flexible work arrangements (48/52, work from home, Act through ongoing communications, As the University has not been prescribed job share, flexi-time etc). In 2014 2,083 website publications and regular ESOS as a public body that can receive disclosures (1 in 3.6) University staff accessed 5,362 network meetings. ESOS training is under the Act, disclosures of improper days’ carer’s leave (including 4,921 days provided to staff. conduct and detrimental action must be paid leave). The University supported the ongoing made to the Independent Broad-based review and enhancement of the established Anti-corruption Commission (‘IBAC’) Promote compliance with the Carers Act. administrative and academic support or to the Victorian Ombudsman. The University underpins carer’s leave and flexible working procedures and guidelines services for international students. An Under the Act, the IBAC has a key role with training, clear policy statements and external audit of the University’s compliance in receiving, assessing and investigating supportive online resources on a dedicated with the ESOS Act was conducted and disclosures about improper conduct family and carers web page for all staff, returned a positive report on the University’s or detrimental action. policies and procedures supporting supervisors and carers. It is an offence to reveal information international students. In conjunction with Ensure staff promote, understand about the content of a protected disclosure Universities Australia and the Go8 Group, and are aware of the care relationship including the identity of the person who the University contributed substantial principles in dealing with colleagues made the disclosure, except in limited feedback on the Commonwealth who are carers or being cared for. circumstances. A breach of confidentiality Department of Education’s Reform All staff receive orientation and ongoing constitutes a criminal offence punishable of the ESOS Framework discussion training in appropriate, respectful and by a financial penalty and/or up to two years paper in October 2014. Following initial non-discriminatory workplace conduct. stakeholder consultation earlier in the year, imprisonment. It is also a criminal offence the Department has proposed a number to harass, intimidate, disadvantage or Reflect the care relationship principles of changes to the ESOS Framework, many discriminate against another person because and ensure staff reflect the principles of which are supported by the University. they have made a protected disclosure. in developing, providing and evaluating support and assistance for those in care In addition, where the University becomes relationships. All staff, and family of staff, aware that a matter is being handled under 06 are offered counselling services through the Act, the University must protect the the Employee Assistance Program. person(s) who made the protected disclosure Annual surveys are conducted to gain Statutes and regulations from detrimental action in reprisal for feedback on these programs. that disclosure. The University’s policy The University administers Statutes on protection from detrimental action and Regulations of the University and can be found in the Whistleblowers Standing Resolutions of Council, in and Protected Disclosure Procedure: accordance with the provisions of the http://policy.unimelb.edu.au/MPF1217 University of Melbourne Act 2009. The statutes, regulations and Council resolutions are recorded in three volumes of University publications, which may be inspected in the Baillieu Library, or viewed online at http://www.unimelb.edu.au/unisec/

No Statutes were enacted, repealed or amended during 2014. 100 STATUTORY ANNUAL REPORTING REPORT 2014

09 Grievance procedures

The University’s student complaints and to the submission of a complaint. as those relating to sexual harassment, grievances processes have been further Recommendations from last year’s internal unlawful discrimination, bullying or steamlined to make it easier for students audit of the complaints and grievances occupational violence. Staff members to provide feedback to the University online policy were incorporated into procedures aggrieved by decisions made by the and to seek a response and resolution of this year and the process continues to University with regard to promotion, their concerns. Training for front-line staff evolve and improve. The student complaint reclassification of professional staff positions, and independent support for complainants and grievance system is accessible through and disciplinary penalties for misconduct continue to play a key role in ensuring fast the Melbourne Students and Learning and unsatisfactory performance, may and effective resolution of student concerns. website at msl.unimelb.edu.au/feedback also lodge a grievance. Specific review The University of Melbourne Student Union committees exist to handle each of these The grievance procedures in the University Advocacy Service continues to play a crucial issues. Current staff grievance procedures of Melbourne 2013 Enterprise Bargaining and valuable role in the complaints process are published on the University’s web site at Agreement apply to all staff grievances, with the majority of students seeking https://hr.unimelb.edu.au/advice/policy- except for specific procedures such independent advice and support prior summaries/grievances

10 Freedom of information ACTIVITY REPORT

In the period from 1 July 2013 to 30 June All formal requests for access to documents by an officer of the University in cases where 2014, 18 new requests for documents under of the University, under the provisions of the details supplied about a document are not the provisions of the Freedom of Information Act, should be made in writing via email to sufficiently clear to identify that document. Act 1982 (Vic) (‘Act’) were received. There [email protected] and addressed Charges for access to documents of were 7 requests for personal documents to the University Secretary. the University under the provisions of the and 11 for non-personal documents. Enquiries on any aspect of the freedom of Act are in accordance with the standard Access in full was given to two requests, information legislation, or for assistance that provisions of the Freedom of Information partial access to six requests, and access may be required to identify documents of the (Access Charges) Regulations 2004. denied in full to one request. One request University available under the Act, should be was withdrawn. In six requests no directed to the Privacy and FOI Case Officer documents were found, and two requests CATEGORIES OF DOCUMENTS via email to [email protected]. were still in progress as at 30 June 2014. In 2014, the University completed a major Where access is granted to inspect, obtain The Principal Officer of the University is overhaul and update of its statement under or purchase material, arrangements will be the Chancellor. The University Secretary Part 2 of the Freedom of Information Act made during normal office hours, Monday is authorised by the Chancellor to make 1982 (Vic). The result is a detailed outline, to Friday, 8.45 am to 5.00 pm. decisions and exercise statutory power based on guidelines provided by the on behalf of the University in accordance A request for access to a document of Department of Justice, of documents with the Act. the University should include sufficient and information available to the public information about that document to enable without the need for a formal FOI application. it to be identified. Assistance will be provided The Part 2 Statement is accessible through the University Secretary’s web site at www.unimelb.edu.au/unisec/foipart2.html. 101

11 Statement concerning compulsory non-academic fees, subscriptions and charges

Following the Federal Government’s amendment of the Higher Education Support Act through the Higher Education Legislation Amendment (Student Services and Amenities) Act 2010, the University introduced an amenities and services fee in 2012. The fee for 2014 is $281 for full-time students and $210 for part-time students.

12 Further information

The University has the following information available on request:

»» declarations of pecuniary interests »» details of shares held beneficially by senior officers as nominees of a statutory authority or subsidiary »» details of publications produced »» details of major promotional, public relations and marketing activities »» details of changes in prices, fees, charges, rates and levies charged »» details of major external reviews »» occupational health and safety assessments and measures »» list of major committees.

Enquiries should be addressed to: University Secretary The University of Melbourne Vic 3010 102 DISCLOSURE ANNUAL INDEX REPORT 2014

Disclosure Index

Item No Source reference Disclosure Volume Page(s)

Standing directions of the minister for finance

Report of Operations contains general information about the entity and its activities, highlights for reporting period and future initiatives and is prepared 1 SD 4.2(g) 1 1–101 on a basis consistent with financial statements pursuant to the Financial Management Act 1994.

Report of Operations is prepared in accordance with Financial 2 SD 4.2(h) 1 3 Reporting Directions.

Report of Operations is signed and dated by Chancellor or equivalent and 3 SD 4.2(j) 1 3 includes date of Council Meeting at which Annual Report was approved.

Financial Statements are prepared in accordance with: »» Australian Accounting Standards (AAS and AASB standards) 4 SD 4.2(a) and other mandatory professional reporting requirements; 2 19, 68 »» Financial Reporting Directions; and »» Business Rules.

Financial Statements available, including: »» Balance Sheet and income statement; 5 SD 4.2(b) »» Statement of Recognised Income and Expense; 2 4–67 »» Cash Flows Statement; and »» Notes to the financial statements.

Signed and dated statement by Accountable Officer stating that financial statements: »» Present fairly the financial transactions during reporting period and the financial position at end of the period; 6 SD 4.2(c) 2 68 »» Were prepared in accordance with Standing Direction 4.2(c) and applicable Financial Reporting Directions; and »» Comply with applicable Australian Accounting Standards (AAS and AASB standards) and other mandatory professional reporting requirements.

Financial Statements are expressed in the nearest dollar except where the total assets, or revenue, or expenses of the institution are greater than: »» $10,000,000, the amounts shown in the financial statements 7 SD 4.2(d) 2 4–67, 24 may be expressed by reference to the nearest $1,000; and »» $1,000,000,000, the amounts shown in the financial statements may be expressed by reference to the nearest $100,000.

The financial statements were reviewed and recommended by the Audit 8 SD 4.2(e) 1 78, 90 Committee or Responsible Body prior to finalisation and submission.

Attestation on compliance with the Australian/New Zealand 9 SD 4.5.5 1 90 Risk Management Standard. 103

Item No Source reference Disclosure Volume Page(s)

Financial reporting directions

10 FRD 03A Accounting for Dividends n/a n/a

11 FRD 07A Early Adoption of Authoritative Accounting Pronouncements 2 24

12 FRD 9A Administered assets and liabilities n/a n/a

1 102–105 13 FRD 10 Disclosure Index 2 72–75

14 FRD 11 Disclosure of Ex-gratia Payments n/a n/a

15 FRD 17B Long Service Leave Wage Inflation and Discount Rates 2 23

16 FRD 19 Private Provision of Public Infrastructure 2 24

17 FRD 21B Responsible Person and Executive Officer Disclosure in the Financial Report 2 47

Consultants: Report of Operations must include a statement disclosing each of the following 1. Total number of consultancies over $10,000 2. Location (eg website) of where details of these consultancies over $10,000 have been made publicly available 3. Total number of consultancies individually valued at less than $10,000 and the total expenditure for the reporting period 18 FRD 22E 2 11 AND publication on university website required, for each consultancy more than $10,000, of a schedule listing: »» Consultant engaged »» Brief summary of project »» Total project fees approved »» Expenditure for reporting period »» Any future expenditure committed to the consultant for the project

19 FRD 22E Manner of establishment and the relevant Minister 1 76

20 FRD 22E Objectives, functions, powers and duties 1 1–101

21 FRD 22E Nature and range of services provided including communities served 1 1–101

22 FRD 22E Organisational structure and chart, including accountabilities 1 74

1 72–73 23 FRD 22E Names of Council members 2 47

Operational and budgetary objectives, performance against objectives 24 FRD22E 1 1–101 and achievements

Occupational health and safety statement including performance 25 FRD 22E indicators,performance against those indicators, and how they 1 85-89 affected outputs

Workforce data for current and previous reporting period including 26 FRD 22E 1 13, 61–63 a statement on employment and conduct principles

Summary of the financial results for the year including previous 1 13 27 FRD 22E 4 year comparisons 2 4

28 FRD 22E Significant changes in financial position during the year 2 5

29 FRD 22E Major changes or factors affecting performance 2 3 104 DISCLOSURE ANNUAL INDEX REPORT 2014

Item No Source reference Disclosure Volume Page(s)

Financial reporting directions (continued)

Post-balance sheet date events likely to significantly affect subsequent 30 FRD 22E 2 54 reporting periods

31 FRD 22E Summary of application and operation of the Freedom of Information Act 1982 1 100

Statement of compliance with building and maintenance provisions 32 FRD 22E 1 98 of the Building Act 1993

33 FRD 22E Statement on National Competition Policy 1 98

34 FRD 22E Summary of application and operation of the Protected Disclosure Act 2012 1 99

Statement, to the extent applicable, on the application and operation 35 FRD 22E of the Carers Recognition Act 2012 (Carers Act), and the actions that 1 99 were taken during the year to comply with the Carers Act

36 FRD 22E Summary of Environmental Performance 1 65–71

List of other information available on request from the Accountable Officer, 37 FRD 22E and which must be retained by the Accountable Officer (refer to list at (a) – (l) 1 101 in the FRD)

38 FRD 24C Reporting of office based environmental impacts 1 65–71

39 FRD 25B Victorian Industry Participation Policy in the Report of Operations n/a n/a

Accounting for VicFleet Motor Vehicle Lease Arrangements on 40 FRD 26A n/a n/a or after 1 February 2004

41 FRD 101 First time adoption 2 24

42 FRD 102 Inventories 2 20, 34

26, 21–22, 43 FRD 103E Non-current physical assets 2 36-39

44 FRD 104 Foreign currency 2 55

45 FRD 105A Borrowing Costs 2 23, 31

46 FRD 106 Impairment of assets 2 19–22, 31

47 FRD 107 Investment properties n/a n/a

48 FRD 109 Intangible assets 2 22, 40

49 FRD 110 Cash Flow Statements 2 18

50 FRD 112D Defined benefit superannuation obligations 2 23, 30, 33, 59

51 FRD 113 Investments in Subsidiaries, Jointly Controlled Associates and Entities 2 19–20, 53

52 FRD 119A Transfers through contributed capital n/a n/a

Accounting and reporting pronouncements applicable 53 FRD 120H 2 24 to the reporting period 105

Item No Source reference Disclosure Volume Page(s)

Financial Management Act 1994 (FMA)

FMA 1994 Financial Statements:

54 49 (a) Contain such information as required by the Minister;

55 49 (b) Are prepared in a manner and form approved by the Minister; 2 68

Present fairly the financial transactions of the university during 56 49 (c) 2 68 the relevant financial year to which they relate;

Present fairly the financial position of the university as at the end 57 49 (d) 2 68 of that year; and

Are certified by the accountable officer in the manner approved 58 49 (e) 2 68 by the Minister.

Education and Training Reform Act 2006 (ETRA)

ETRA, Statement on compulsory non-academic fees, subscriptions 59 1 109 s. 3.2.8 and charges payable in 2014

28, Financial and other information relating to the university’s 60 PAEC 1 32–38, 45, international operations 48–59

University »» Summary of the university commercial activities Commercial 61 1 91-97 Activity »» If the university has a controlled entity, include the accounts Guidelines of that entity in the university’s Annual Report 106 ANNUAL INDEX REPORT 2014

Index

A Australian National Academy of Music Ltd, 91 Chancellor’s Prize for Excellence in a PhD Thesis, Australian Research Council Laureate Fellowship, 19 AAH Fellows, 15 16, 23 charges, fees and subscriptions, 101 Academic Appointment, Performance and Australian Society of Archivists, 16 Chernov, Alex AC, 18 Promotion Policy, 36 Australian Volunteers International partnership, 49 Chilean Research Group of Australia (CREGA) Academic Board, 77, 80 award completions, 13 conference, 53 academic governance, 80–2 China–Australia Mental Health Centre, 54 Academic Leadership Development Program, 62 B Chinese Language Teachers Association of Academic Ranking of World Universities, 6, 8, 21, Victoria, 55 Bachelor of Arts Extended, 42 22 citations, 24 Bachelor of Biomedicine, 36 academic units, 80 Citations for Outstanding Contributions to Student Access Connections mentoring program, 40, 41 Bachelor of Commerce (Honours), 36 Learning, 38 Accountability and Performance Management Bachelor of Science, 36 Climate Alliance 2014 Business Leadership Cycle, 90 Bachelor of Science Extended, 42 Awards, 16 ACMI Fellow, 15 Batterham, Professor Robin John, 73 commercial activities of University-controlled entities, 97 affiliations with other establishments, 49 Believe – the Campaign for the University of Commercial and Corporate Activities Register, 90 Alan Coates Award for Excellence in Clinical Trials Melbourne, 7, 57, 59 Research, 15 Berkovic, Professor Sam, 17 committees of Council, 78 Alexander, Ms Elizabeth, 72 bicycle parking, 70 Community Health Advancement and Student Engagement Program, 41 Alfred, Professor Linda Tuhiwa Smith, 50 bilateral agreements, 52 Community Volunteering for Change (CVC) – alumni, 10, 47, 58–9 Bio 21 Molecular Science and Biotechnology Global, 49 American Australian Association Education Fund Institute, 83, 96 competitive neutrality requirements, 98 Fellowships, 19 Boisbouvier Founding Chair in Australian Literature, complaints and grievance procedure, 100 American College of Cardiology Fellowship, 15 58 compliance training, 62 American College of Veterinary Surgeons Founders’ breadth subjects, 34 Award, 15 British Open (tennis), 19 Computational Biology Research, 6 Anne Anderson Award, 15 Building Act 1993, 98 Confucius Institute (CI), 55 ARC Centre of Excellence for Mathematical and Building and Estates Committee, 78 construction projects, 7 Statistical Frontiers of Big Data, Big Models, New building projects, 71, 98 Council for the Advancement and Support of Insights, 23 Education’s (CASE) Asia–Pacific Leadership Award, Business Improvement Program (BIP), 7, 36, 61 Architecture Building and Planning Building, 71 16 Asialink Business, 54, 93 Council Nominations and Governance Committee, C 78 Asialink Leaders Program, 54 The Campaign, 10, 47 Council of the University of Melbourne Asia–Pacific Association of International Education, 15 Campus as a Laboratory, 66–7 Council appointments, 73 Association of Pacific Rim Universities (APRU), 53 carbon emissions and reduction projects, 65, 67, Government appointments, 73 68, 69 Audit Committee, 78 indemnity, 79 Career Readiness Sessions, 62 Australia Day Honours, 15 members’ attendance at meetings, 79 carers leave and provisions, 99 Australia India Institute, 55, 83 membership, 72–3 Carers Recognition Act 2012, 99 Australia Indonesia Centre, 52–3 Ministerial appointment, 72 Carlton Community Student Volunteer Program, 49 Australian Academy of Science Fellowship, 15 responsibilities, 76 Carlton Connect Initiative, 27, 67, 93 Australian Awards for University Teaching, 15 risk management framework, 90 C-Campus program (China), 52 Australian Blackboard User Group (ABUG) Member Council standing committees, 77 of the Year, 16 Centre for Cultural Materials Conservation, 58 Course Experience Questionnaire (CEQ), 37 Australian Boat Race, 19 Centre for Energy-Efficient Telecommunications Coursera enrolments, 39 (CEET), 48 Australian Competitive Grant (ACG) income, 23 cultural life, 50 chairs created, 58 Australian Honours list, 10, 47 Cultural Treasures Festival, 50 Chancellor’s letter, 2 Australian Music Examinations Board (Vic) Ltd, 91 107

D finance, 12, 13 indemnity for Council, 79 Finance Committee, 78 Indigenous Affairs Advisory Committee, 78 Damousi, Professor Joy, 23 Food UP! System, 27 Indigenous Employment Framework 2014–2016 Davis, Professor Glyn, 16, 72 Francine V McNiff Chair in Human Rights Law, 58 (IEF), 63 deans, 74 freedom of information procedure, 100 Indigenous staff, 63 demand and market share, 32 Friends of the University of Melbourne, 57 Indigenous Student Plan (ISP), 42 Department of Resource Management and fundraising campaigns, 57–9 Indigenous students Geography, 81 furniture and equipment reuse, 71 enrolments and completions, 42 departments of the University, 81 further information on request, 101 outreach and support, 42 design and building principles, 70 future programs, 45 study programs, 42 Designing Green Roofs and Walls, 66 infrastructure projects, 71 Diploma in General Studies, 43 G Innovation and Excellence in Learning and disadvantaged students, support, 40–1 Teaching Showcase, 39 Gates Cambridge Trust Fellowships, 19 disclosures about improper conduct, 99 Institute for a Broadband Enabled Society (IBES), Dodds Street stables, 7, 57 GEDC Airbus Diversity Award, 19 25 Doherty Institute for Infection and Immunity, 29, 71 Gerry Baretto Award for Outstanding Student institutional partnerships, 26 Services, 17 donor wall, 56–7 Integrated Sustainability Reporting, 67 Gerry Higgins Chair of Positive Psychology, 58 Dungala Kaiela Oration, 48 Interdisciplinarity and the Environment study, 66 global mobility, 45 interdisciplinary research institutes, 25–6, 77, 83 Goulburn Valley Partnership, 48–9 E international agreements and partnerships, 10, 44, governance of the University, 76–83 47, 52–3 Eastwood, Alexander, 18, 19 governance structure, 77 International Council of Ophthalmology, 17 ebook titles in library, 44 graduate coursework applications, 34 international engagement, 5 Educational Services for Overseas Students Act Graduate Destination Survey (GDS), 37 2000, 99 International House, 93 graduate enrolments, 34 Education for Sustainability, 66–7 International Research and Research Training Fund, graduate management, 28 53 eLearning, 38–9 graduate online, 39 international students Election Watch website, 56 graduate outcomes, 37 Educational Services for Overseas Students Act elite athletes, 45 2000, 99 graduate programs, demand for, 6 emergency preparedness and response, 87 English language assistance, 44 graduate researchers, 28, 29 energy consumption and savings, 68, 69 enrolments, 31, 32, 51 graduate researchers awards, 9 engagement with Asia, 54–5 IPAA Fellow, 17 Graduate Research Supervisor Registration, 28 engagement with wider society, 46–59 graduate schools, 81 enrolment statistics, 40 J graduate schools intake review, 36 international students, 9 graduate students’ countries of origin, 51 Johanson, Mr Robert, 72 epilepsy research, 17 graduation statistics, 44 Ernie Cropley Pavilion, 45 Green Alliance of Universities for a Sustainable K ESTEME partnership, 41 Future, 52 Kathleen Fitzpatrick Award, 23 Eureka Prizes, 16 Green Innovation Fund, 68 Kemp, The Hon Dr David, 73 European Stroke Conference (ESC) Johann Jacob Green Star Communities, 66 Wepfer Award, 16 grievance procedures, 100 European Union Centre on Shared Complex L Group of Eight Quality Verification System (QVS), Challenges, 53 Latin American partnerships, 53 36 Excellence in Teaching Awards, 16–17 Law Institute of Victoria Awards, 17 experience, 5 H Learn, Experience, Access, Professions (LEAP) external engagement, 26, 96 program, 41 Hallmark Research Initiatives for Ageing Research, Learning Analytics Research Group, 39 6, 25 F Legislation and Trusts Committee, 78 Harman, Ms Deborah, 73 faculties and graduate schools, 77, 80 library holdings, 44 Hayes, Assoc. Professor Jennifer, 38 Faculty of Architecture, Building and Planning, 80 Linkage, Infrastructure, Equipment and Facilities Health and Hazard Assessment Questionnaires, 87 (LIEF) grants, 29 Faculty of Arts, 80 Health and Safety representatives, 86 Lorenzo Galli Chair in Melanoma and Skin Cancers, Faculty of Business and Economics, 80 health surveillance, 87 58 Faculty of Medicine, Dentistry and Health Sciences, high-achieving staff, 15–18 81 high-achieving students, 19 M Faculty of Science, 81 highly cited researchers, 21, 24 Faculty of the Victorian College of the Arts and major projects, 98 Melbourne Conservatorium of Music, 82 Honours Committee, 78 Manchester–Melbourne Mobility Scheme, 52 Faculty of Veterinary Science, 81 honours programs intake review, 36 market standing, 32 faculty structure, 6 Marvel Windsor Art Award, 19 Fair Trade University, 68 I Master of Teaching, 36 Federal government research grants, 23 Ian Potter Museum of Art, 50, 94 Masters (Coursework) programs, 36 fees, subscriptions and charges, 101 IEEE Fellow, 17 Masters (Extended) programs, 36 108 ANNUAL INDEX REPORT 2014

Materials Research Initiative, 26 Development, 42 project management procedures, 98 McKenzie, Hamish, 19 MU Sport, 45 Protected Disclosure Act 2012, 99 McPherson, Mr Ross, 73 MUSSE (online newsletter), 56 pro vice-chancellors, 74 media mentions, 56 MU Student Union Limited, 92 public lectures, 59 median ATAR score, 10, 13, 33 Myer, Mr Martyn AO, 73 public transport, 70 media platforms, 56–7 Medley Hall of Residence, 94 N R Melatos, Assoc. Professor Andrew, 38 Narrm Oration, 50 radiation management, 87 Melbourne Abroad Travelling Scholarships, 28 National Alliance on Mental Illness Scientific Radicals, Villains and Slayers exhibition, 50 Melbourne–Asia Visiting Fellowship Scheme, 52 Research Award, 17 radio broadcasts, 56 Melbourne Awards, 17 national and international engagement, 59 ranking of world universities, 6, 8, 21, 22 Melbourne Biomedical Precinct, 27 National Competition Policy, 98 recycling and resource recovery, 70 Melbourne Business School Ltd, 91 National Environmental Science Program, 23 Redmond Barry Distinguished Professor Award, 38 Melbourne Centre for the Study of Higher National Gallery of Victoria partnership, 49 register of commercial and corporate activities, 90 Education, 28 Neville Quarry Architectural Education Prize, 17 regulations and statutes, 99 Melbourne Collaborative Research Infrastructure Noel Shaw Gallery, 50 Remuneration and Employment Conditions Program (MCRIP), 29 Nossal Institute for Global Health, 83, 92 Committee, 78 Melbourne Conservatorium of Music, 82 number one preference, 9, 31 research, 20 Melbourne Curriculum, 34, 36 collaboration, 25 Melbourne Custom Programs, 83 O excellence, 22 Melbourne Dental Clinic Ltd, 91 expenditure, 24 Melbourne Early Career Development Program, 62 objectives of the University, 76 giving back to community, 26 Melbourne Energy Institute (MEI), 25 occupational health and safety (OHS), 85–9 income, 23 Melbourne Experience Survey (MES), 37 consultative framework, 86 infrastructure, 29 Melbourne Graduate School of Education (MGSE), external OHS audits, 89 institutes, 25–6 36, 82 Health and Safety representatives, 86 looking ahead, 29 Melbourne Graduate School of Science, 81 health surveillance, 87 performance, 23–4 Melbourne–India Postgraduate Program, 53 incidents requiring notification, 89 precincts, 27 Melbourne Law Masters course, 36 internal audits, 89 training programs, 28 Melbourne Law School (MLS), 82 management system, 86 Research, Innovation and Commercialisation (RIC) Melbourne Materials Institute (MMI), 26 performance indicators, 88 structure, 6 Melbourne Medical School Academic Centres, 81 regulatory activity, 87 Research Australia Awards, 18 Melbourne Medical School Clinical Schools, 81 resources, 86 research excellence, 5 Melbourne Neuroscience Institute (MNI), 25 services provided, 87 research higher degree (RHD) load, 9, 21 Melbourne Operating Model, 60–3 strategic plan, 85 research institutes, 67, 77 Melbourne Research Division, 29 training courses, 86 inter-disciplinary, 83 Melbourne School of Design, 7, 57, 71 vaccination programs, 87 Research @ Melbourne strategy document, 22, 25, Melbourne School of Engineering (MSE), 82 Occupational Health and Safety Committee, 86 29 Melbourne School of Government (MSOG), 26, 48 online student services, 43 research performance, 12, 13 Melbourne School of Graduate Research, 83 other academic units, 77 residential camps for secondary students, 41 Melbourne School of Information, 82 outbound mobility program, 10, 52 Residential Indigenous Science Experience (RISE) Melbourne School of Land and Environment Overseas Research Experience Scholarships, 28 program, 41 (MSLE), 6, 36, 82 overseas study opportunities, 45 resource recovery and recycling, 70 Melbourne Social Equity Institute (MSEI), 25 responsibilities of Council, 76 Melbourne Student Accommodation Program, 44 P review cycle, 36 Melbourne Sustainable Society Institute (MSSI), 26, partnerships with business, government, rewarding excellence, 38 67 community, 48–50 Rhodes Scholarships, 9, 19, 31 Melbourne Theatre Company (MTC), 50, 93 pathways to employment, 63 rice husk ash cement project, 35 Melbourne University Publishing Limited, 50, 91 Peake, Mr Tony, 73 risk management strategy, 90 Melbourne University Sport, 94 Pearson, Noel, 48 Ritchie, Ms Eda AM, 73 Melbourne vision, 3 philanthropic support, 7, 47, 56, 57–9 Royal Women’s Hospital site, 67 mentoring program, 40 Picchi Award, 19 RU Ok Day, 44 Michael Buxton Collection of Contemporary Plesch, Dr Melanie, 38 Australian Art, 7, 58, 59 positive experience of students, 36 Microsoft Research Centre for Social Natural User S Interfaces, 48 postgraduate student statistics, 12 Safer Community Program, 44 Middleton, The Hon Justice John, 73 Pratt Prize, 19 Scheffer, Professor Ingrid Scheffer, 17 Minister for Justice Certificate, 17 preferred courses, 33 scholarly literacy skills, 44 mobile learning, 38–9 Premier’s Award for Health and Medical Research, scholarly values, 5 17 moocs Massive Open Online Courses (MOOCs), 6, scholarships, 40, 57 Prime Minister’s Prize for Science, 17, 18 9, 38, 39 schools, 80 Professional Women in Leadership Program, 62 Murrup Barak Melbourne Institute for Indigenous Science without Borders program, 53 109

self-service initiatives, 43 W semi-autonomous bodies, 77, 93–4 T W.A. Premier’s Book Awards, 18 senior leadership, 74–5 Tarrant, Ms Bronwyn, 38 Wade, Peter, 41 senior officers, 74 seven 7 Tesla Siemens Magnetic Resonance Imaging (&TMRI) system, 29 Wade Institute of Entrepreneurship, 7, 41, 58 ‘significant’ financial activities, 90 Themis Enabling Excellence (TEE) Project, 71 Wang, Ms Tian, 49 Sina Weibo account, 56 Thesis Boot Camp, 28 waste recycling, 69 social media, 47, 56–7 ‘Thinking Melbourne’ partnership dinner, 57 water use, 68, 69 sources of income, 13 Thought for Food Challenge, 27 Wellness@Melbourne Program, 44 Specialist Certificate in Teaching for Graduate Researchers, 28 Three Minute Thesis Competition, 19, 28 Wellness Week, 44 Sports Pavilion, 7, 45, 57 travel and vehicle emissions, 69 Westpac Bicentennial Foundation, 7 staff Triple Helix, 61 Wheeler, Andrew, 18, 19 development and training, 62 Tucker Medal, 18 whistleblowers protection, 99 engagement, satisfaction, wellbeing, 62 Wilson, Mr John, 73 excellence, 38 U workers’ compensation, 87 female representation, 62 UIIT Pty Ltd, 96 WorkSafe Victoria, 87, 88, 89 Indigenous representation, 63 UMELB Pte Ltd, 92 Staff Equity and Diversity Strategy, 63 undergraduate courses, 33 Y Staff News bulletins, 56 demand for, 6 year in review, 6–7 staff statistics, 9, 12, 13, 31 undergraduate students six 6-star Green Start design rating, 65 countries of origin, 51 Start-of-Career Researchers Workshops, 28 statistics, 11 statistics – five-year, 12–13 UniSeed Management Pty Ltd, 96 statutes and regulations, 99 United Nations High Commission for Refugees, 48 statutory reporting, 84–100 Universitas 21fellowships and scholarships, 18, 53, Stella Prize, 18 96 Strengthening Engagement and Achievement in Universitas 21 Global Pte Ltd, 96 Mathematics and Science (SEAMS) program, 41 Universitas 21 LBG, 96 student accommodation, 44 University business operations, 93–4, 95 Student Centre Advising, 36 University-controlled entities, 91–2 Student Connect Program, 44 University of Melbourne and Peking University student exchanges, 52 Centre for Psychiatry Research and Training, 54 Student Reference Group, 43 University of Melbourne Foundation, 78 students University of Melbourne Poche Centre for Indigenous Health, 7, 58 enrolments, 13, 31, 51 University of Melbourne USA Foundation, 57 and learning, 12 University of Melbourne Veterinary Hospital, 94 postgraduate statistics, 31 University Risk Committee, 78 undergraduate statistics, 31 UoM Commercial Ltd, 92 see also international students Up Close, 56 students and learning, 30–45 student satisfaction, 37 V student services, 43 student–staff ratio, 13 vaccination programs, 87 student wellbeing and support, 44 VCA Integration Committee, 78 study skill development, 44 Vice Chancellor’s Awards for Outstanding Contributions, 14 Subject Experience Survey (SES), 9, 31, 37 Vice Chancellor’s Engagement Awards, 50 subscriptions, charges and fees, 101 Victoria India Doctoral Scholarship scheme, 55 subsidiary companies, 77 Victorian Honour Roll of Women, 18 sustainability, 64–71 Victorian of the Year, 18 commuting, 65 Victorian Senior Australian of the Year, 18 engagement activities, 68 Victorian Young Tall Poppy Science Award, 18 operational basis, 68 Victoria Prizes for Science and Innovation, 18 targets, 69 Visions (video podcast), 56 sustainability benchmarking survey, 67 visits hosted, 53 Sustainability Code of Practice, 66 Voice, 56 Sustainability Survey, 68 Sustainability Walking Tour, 68 sustainable transport, 70 THE INDIGENOUS WORKFORCE HAS GROWN BY 46 239 INTERNATIONAL AGREEMENTS additional Indigenous WITH UNIVERSITIES AROUND staff from 2011 THE WORLD

STUDENT ENROLMENTS

2014 INTERNATIONAL 42,653 ENROLMENTS % 31increase

TOP 50 OVER 2200 BICYCLE PARKING SPACES Enabling sustainable commuting

POSITIONED FOR SUCCESS

RHD LOAD INCREASE BY % over the 9last 5 years star Green Star 6 design rating THE NEW MELBOURNE SCHOOL OF DESIGN BUILDING ACHIEVES A 6 STAR GREEN START DESIGN RATING WITH FULL INNOVATION POINTS

WWW.UNIMELB.EDU.AU 1

FINANCIAL

Notes to and forming part of the REPORTFinancial Statements

Note 1 Statement of Significant Accounting Policies

The principal accounting policies adopted University’s accounting policies. Estimates valued by management on a cyclical by the University of Melbourne in the and judgements are continually evaluated basis based on a combination of preparation2014 of the financial report for and are based on historical experience and internal and external expert advice. the year ended 31 December 2013 are other factors including expectations of future set out below. These policies have been events that are believed to be reasonable (iii) Key estimates – useful lives consistently applied to all the years resented, under the circumstances. The areas involving of physical and intangible assets unless otherwise stated. The financial report a higher degree of judgement or complexity, The Group reviews the estimated useful includes separate financial statements for or areas where assumptions and estimates lives of property, plant and equipment the University as an individual entity and are significant to the financial statements and intangible assets at the end of each the consolidated entity, consisting of the are described below: reporting period. University and its subsidiaries. The University and its subsidiaries are referred to in this (i) Key estimates – impairment (iv) Key judgements – financial financial report as the Group or the The Group assesses impairment at each asset and liability classification consolidated entity. reporting date by evaluating conditions The Group’s accounting policies provide specific to the Group that may lead scope for assets and liabilities to be 1.1 Basis of preparation to impairment of assets. Where an designated on inception into different impairment trigger exists, the recoverable accounting categories in certain The annual financial statements represent amount of the asset is determined. circumstances: the audited general purpose financial The Group’s impairment policies are statements of the University of Melbourne. set out in Note 1.10 for financial assets a) In designating financial assets at They have been prepared on an accrual and Note 1.15 for non-financial assets. fair value through profit and loss, basis and comply with the Australian the Group as determined that it Accounting Standards. (ii) Key estimates – determination has met one of the criteria for this of fair values designation set out in Note 1.9 (i). Additionally the statements have been prepared in accordance with following Financial assets and liabilities b) The Group classifies financial assets statutory requirements: The fair value of financial assets and as held-to-maturity where it has financial liabilities must be estimated determined that it has both the »» Higher Education Support Act 2003 for recognition and measurement or positive intention and ability to (Financial Statement Guidelines) for disclosure purposes. hold the assets until their maturity »» Financial Management Act 1994 The fair value of financial instruments date, as required in Note 1.9 (iii). The University of Melbourne is a not-for- traded in active markets is based on quoted market prices. The quoted market c) In determining whether income profit entity and these statements have is reciprocal in nature the Group been prepared on that basis. Some of price used for financial assets held by the Group is the closing market price at has determined that it has met the requirements for not-for-profit entities the criteria set out in Note 1.4 (i). are inconsistent with IFRS requirements. balance sheet date. The determination of fair values for financial assets and Historical cost convention financial liabilities for which there is no 1.2 Principles of consolidation observable market price requires the The financial statements have been prepared (i) Subsidiaries use of valuation techniques. under the historical cost convention as The consolidated financial statements modified by the revaluation of available For financial instruments that trade incorporate the assets and liabilities of for sale financial assets, financial assets infrequently and have little price all subsidiaries of the University as at 31 and liabilities at fair value through profit transparency, fair value is less objective, December 2013, and their results for the or loss and certain classes of property, and requires varying degrees of year then ended. plant and equipment. judgement depending on liquidity, concentration, uncertainty of market Subsidiaries are all those entities over which Critical accounting estimates factors, pricing assumptions and other the University has the power to govern the The preparation of financial statements risks affecting the specific instrument. financial and operating policies, generally in conformity with Australian accounting accompanying a shareholding of more than Property, plant and equipment standards requires the use of certain one-half of the voting rights. The existence Land and buildings are valued by an critical accounting estimates. It also TOP 50 and effect of potential voting rights that external valuer on a cyclical basis, or requires management to exercise its are currently exercisable or convertible earlier if there is a material movement. judgement in the process of applying the are considered when assessing whether Works of art and other collectionsPOSITIONED are theFOR University SUCCESS controls another entity. 02 FINANCIAL FINANCIAL STATEMENTS INDEX REPORT 2014

Financial Statements Index

Financial statements overview 03 14. Other expenses 32 Statement by 15. Cash and cash equivalents 32 University officers 68 Five year financial summary 04 16. Receivables 33 17. Inventories 34 Victorian Income Statement 14 Auditor-General’s report 69 18. Other financial assets 34 Statement of 19. Other non-financial assets 35 Compliance index to Comprehensive Income 15 20. Investments accounted for disclosure requirements 72 using the equity method 35 Statement of 21. Property, plant and equipment 36 Financial Position 16 22. Intangible assets 40 23. Trade and other payables 41 Statement of 24. Borrowings 41 Changes in Equity 17 25. Provisions 43 Statement of Cash Flows 18 26. Other liabilities 44 27. Other financial liabilities 44 Notes to and Forming Part 28. Reserves and retained surplus 45 of the Financial Statements 19 29. Key management personnel disclosures 47

1. Statement of significant accounting policies 19 30. Remuneration of auditors 50 2. Australian Government financial assistance 25 31. Contingent assets and liabilities 50 3. State Government financial assistance 28 32. Commitments 51 4. Fees and charges 28 33. Related party transactions 52 5. Investment income 29 34. Subsidiaries 53 6. Consultancy and contracts 29 35. Subsequent events 54 7. Other income 29 36. Reconciliation of cash flows from operating activities 54 8. Employee related expenses 30 37. Financial risk management 54 9. Depreciation and amortisation 30 38. Fair value measurements 56 10. Repairs and maintenance 31 39. Superannuation commitments 59 11. Finance costs 31 40. Acquittal of Australian Government 12. Impairment of assets 31 financial assistance (University only) 60 13. Loss / (gain) on disposal of assets 31 FINANCIAL FINANCIAL 03 PERFORMANCE REPORT 2014

Financial statements overview

The following commentary provides macroeconomic settings, increasing The University itself (including its an overview of the University’s financial competition, ongoing assessment of semi-autonomous bodies) recorded an situation so as to enable a better the potential impact of digital technologies, underlying operating surplus of $5.8 million understanding of the financial statements. and the introduction of the University’s in 2014, compared to $7.2 million and in new operating model involving line with budget. This was based on an The environment in which the University significant restructuring. accounting surplus of $182.9 million (2013, is operating is increasingly challenging $116.6 million). The underlying result reflects and reaffirms the need to focus on financial The financial performance for 2014 reflects the University’s core operating performance sustainability as a key strategic priority, the impact of these issues, demonstrating and its capacity to live within its means, such and to create the flexibility to invest in the large scale, low operating margin nature that there is no reliance on net discretionary critical strategic initiatives to maintain of the organisation. It does however provide investment income, infrastructure grants and and enhance the University’s position a sound base on which to build the long-term endowment receipts. The accounting result in the sector. The year ended 31 December financial sustainability of the University, represents the application of accounting 2014 was characterised by a climate including the retention of the University’s standards and other regulatory requirements. of extreme uncertainty with respect to AA+ credit rating, and the removal Commonwealth higher education sector of any external borrowing covenants. regulation, policy and funding, volatile

Notes: The reconciliation of the University’s underlying operating result to accounting result is as follows: 1. Net discretionary investment income comprises:

2014 2013 $’000 $’000 2014 2013 Investment revenue excluding that relating to government 53,361 34,875 $’000 $’000 grants and endowments Gains from disposals 99,689 51,541 of investments Non-cash gain from investment 65,000 - Underlying operating surplus 5,752 7,243 portfolio reststructure2 (23,601) (2,216) Net discretionary investment income1 155,810 70,204 Impairment of investments Interest expense (13,334) (13,996) 3 Infrastructure grants 2,515 15,323 Termination of interest rate swap (25,305) - Endowment receipts4 18,865 23,836 155,810 70,204 Accounting surplus5 182,942 116,606 2. The investment portfolio restructure included the off market transfer of directly held underlying investments into pooled funds and did not result Underlying operating margin 0.29% 0.40% in any change in the value of the investment portfolio, or cash gain, at the time of execution. 3. Infrastructure grants are grants received for capital expenditure projects. 4. Endowment receipts are capital donations where the principal is to remain intact for a defined time period and income is generated on that principal for utilisation in future years. 5. Accounting surplus equates to the University “Net Result for the Year” as per the Income Statement. 04 FINANCIAL FINANCIAL PERFORMANCE REPORT 2014

Five year financial summary

2014 2013 2012 2011 2010 $’000 $’000 $’000 $’000 $’000 Income and Expense Income 2,131,232 1,876,582 1,846,990 1,700,241 1,598,875 Expenses (excluding Impairment of 1,924,689 1,757,760 1,726,048 1,570,155 1,511,725 Available-for-Sale Financial Assets) Surplus/(Deficit) before Impairment 206,543 118,822 120,942 130,086 87,150 of Available-For-Sale Financial Assets Impairment Expense on Available-for-Sale 23,601 2,216 15,461 47,937 33,597 Financial Assets Net Result for the Year 182,942 116,606 105,481 82,149 53,553 Less: Net Discretionary Investment Income 155,810 70,204 33,383 27,188 29,639 Less: Infrastructure Grants 2,515 15,323 64,141 52,563 40,793 Less: Endowment Receipts 18,865 23,836 13,751 - - Underlying Operating Result 5,752 7,243 (5,794) 2,399 (16,879)

Statement of Financial Position Reserves 3,051,180 2,968,570 2,786,517 2,434,743 2,405,889 Retained Surplus/(Deficit) 1,394,148 1,221,331 1,136,600 1,058,330 1,000,906 Total Equity 4,445,328 4,189,901 3,923,117 3,493,073 3,406,795

Current Liabilities 609,312 619,478 603,087 537,493 494,521 Non-Current Liabilities 514,115 393,131 459,163 428,724 332,058 Equity and Liabilities 5,568,755 5,202,510 4,985,367 4,459,290 4,233,374

Current Assets 296,145 289,023 255,013 266,079 205,625 Non-Current Assets 5,272,610 4,913,487 4,730,354 4,193,211 4,027,749 Total Assets 5,568,755 5,202,510 4,985,367 4,459,290 4,233,374

Operating Cash Flows Inflows 1,955,511 1,833,597 1,804,229 1,665,401 1,564,032 Outflows 1,792,102 1,615,058 1,548,855 1,445,709 1,347,607 Net Cash Inflow from Operating Activities 163,409 218,539 255,374 219,692 216,425 05

In the 2014 financial year: In the 2012 financial year: In the 2010 financial year: »» The University restructured its investment »» The University’s amortisation rate for electronic »» The University has an excess of current liabilities portfolio during the year which resulted in publications was revised effective 1 January over current assets due to the classification of approximately $65 million in non-recurring 2012. This resulted in a $6.475 million increase income in advance as a current liability while the non-cash gains on disposal of investments. in amortisation expense in 2012. No adjustments related cash received is held in the University’s »» The University has an excess of current liabilities were made to prior years. long-term investment fund, which is classified over current assets due to the classification of »» The University has an excess of current liabilities as a non-current asset. Excluding this the income in advance as a current liability while the over current assets due to the classification of University’s current ratio is .85. related cash received is held in the University’s income in advance as a current liability while the »» Endowment receipts were not used in the long-term investment fund, which is classified related cash received is held in the University’s calculation of underlying operating result prior as a non-current asset. Excluding this the long-term investment fund, which is classified to 2012. University’s current ratio is .92. as a non-current asset. Excluding this the »» The decrease in the net cash inflow from operating University’s current ratio is .83. activities relates to changes in working capital at year end, the termination of the interest rate swap In the 2011 financial year: in 2014 and payments with respect to the Business »» The depreciation rate for buildings (structure/shell/ Improvement Program undertaken in the year. fabric) was revised effective 1 January 2011. This »» There were no material changes in accounting resulted in a $9.3 million decrease in depreciation policy in the year. expense in 2011. No adjustments were made to prior years. In the 2013 financial year: »» The University has an excess of current liabilities »» The University has an excess of current liabilities over current assets due to the classification of over current assets due to the classification of income in advance as a current liability while the income in advance as a current liability while the related cash received is held in the University’s related cash received is held in the University’s long-term investment fund, which is classified as long-term investment fund, which is classified a non-current asset. Excluding this the University’s as a non-current asset. Excluding this the current ratio is .98. University’s current ratio is .88. »» There were no material changes in accounting »» Cash inflows from operating activities increased policy in the year. by $101.4 million over 2010 predominantly as a result of rental income in advance relating to the Melbourne Brain Centre.

»» Endowment receipts were not used in the calculation of underlying operating result prior to 2012. 06 FINANCIAL FINANCIAL PERFORMANCE REPORT 2014

Five year financial summary

2014 2013(3) 2012(3) 2011(3) 2010(3) $’000 $’000 $’000 $’000 $’000 Sources of Income ($'000)

Australian Government Recurrent 434,793 431,849 433,682 403,608 377,552 Financial Assistance (1)

Other Australian Government 338,839 344,293 383,760 358,290 316,925 Financial Assistance (2)

HECS-HELP: - - - - -

»» HECS-HELP Australian Government Payments 140,165 132,256 109,500 100,659 94,673

»» HECS-HELP Student Payments 33,030 34,850 34,429 34,498 35,628 FEE-HELP 92,734 77,185 56,455 46,148 40,080

State Government Financial Assistance 53,182 56,074 81,771 44,329 57,505

Fees and Charges 574,167 490,481 439,668 412,174 382,831

Investment Income 29,954 32,480 31,804 32,724 25,606

Donations and Bequests 27,503 5,490 10,217 29,156 45,171

Other Income 167,435 146,049 93,766 93,088 87,800

Total Underlying Operating Income 1,891,802 1,751,007 1,675,052 1,554,674 1,463,771

Discretionary investment revenue 53,361 34,875 34,047 71,176 42,144

Gains from disposals of investments 99,689 51,541 29,782 18,453 35,971

Non-cash gain from investment portfolio restructure 65,000 - - - -

Infrastructure grants 2,515 15,323 64,141 52,563 40,793

Endowment receipts 18,865 23,836 13,751 - -

Total Income 2,131,232 1,876,582 1,816,773 1,696,866 1,582,679

Expenditures ($'000)

Employee Related Expenses 1,041,567 946,725 922,412 837,024 769,872

Depreciation and Amortisation 132,719 112,719 118,906 100,017 130,611

Other Expenses 711,764 684,320 639,528 615,235 580,167

Total Underlying Operating Expenditure 1,886,050 1,743,764 1,680,846 1,552,276 1,480,650 Interest expense 13,334 13,996 14,985 14,504 14,879

Termination of interest rate swap 25,305 - - - -

Impairment Expense on Available-for-Sale 23,601 2,216 15,461 47,937 33,597 Financial Assets

Total Expenditure 1,948,290 1,759,976 1,711,292 1,614,717 1,529,126 07

Five year financial summary (continued)

2014 2013 2012 2011 2010 $’000 $’000 $’000 $’000 $’000 Key Statistics relating to Government Funding ($'000) Australian Government Recurrent Grants 23 22 22 22 22 as a % of Total University Income

Australian Government Recurrent Grants and HECS-HELP 32 31 30 30 30 as a % of Total University Income

Number of Students (EFTSL) (4) 41,770 40,453 38,281 36,856 36,619 Average Australian Government Recurrent Grants 14,556 14,806 15,089 14,618 13,869 (Including HECS-HELP) per Student $

DIISRTE Funded Student Load 24,249 24,114 23,847 23,104 22,887

Average Australian Government Recurrent Grants (1) 17,930 17,909 18,186 17,469 16,496 per DIISRTE funded position $

1. Includes funding for the Commonwealth Grant Scheme and 3. Deferred Superannuation Contributions are now reported in Comprehensive Education research grants. Income Statement, 2010-2013 results have been restated to reflect this. 2. Includes SA-HELP, Scholarships, Capital funding, Australian Research 4. Excludes Melbourne Business School (MBS) and the School of Melbourne Council funding and other Australian Government financial assistance. Custom Programs. 08 FINANCIAL FINANCIAL PERFORMANCE REPORT 2014

Underlying operating income

Underlying operating income at $1,891.8 million has increased by $140.8 million or 8.0% on 2013 due to a combination of factors. The most significant increase related to student revenue as a result of growth in student load, with student fee revenue (including FEE-HELP) increasing by $91.5 million or 18.6% from 2013 to $584.1 million. International student fee revenue increased to $436.0 million, a rise of 17.5%. Sources of Income 2014 Sources of Income 2013

Sources of Underlying Donations and Bequests 1.5% Other Income 8.8% Operating Income 2014 Investment Income 1.6%

Australian Government Recurrent Financial Assistance 23%

Fees and Charges 30.3% 2014

State Government Financial Other Australian Government Assistance 2.8% Financial Assistance 17.9%

HECS-HELP 9.2%

FEE-HELP 4.9%

Sources of Income 2014 Sources of Income 2013

Sources of Underlying Donations and Bequests 0.3% Other Income 8.3% Operating Income 2013 Investment Income 1.9%

Australian Government Recurrent Financial Assistance 24.7%

Fees and Charges 28% 700

6002013

500 State Government Financial Assistance 3.2% 400 Other Australian Government Financial Assistance 19.7% FEE-HELP 4.4% HECS-HELP300 9.5%

200 Note: Investment income relating to government grants and endowments is included in underlying operating income as it must be expended on operating activities. Donations and bequests included in underlying operating income relate to expendable donations and exclude endowment receipts. 100

0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

700

600

500

400

300

200

100

0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Sources of Income 2014 Sources of Income 2013

09

The proportion of the University’s income of the University’s underlying operating In addition, the relationship of Australian received from government sources continues income, falling from 37.6% in 1997 to 23.0% Government funded student revenue to to decline. For example, Commonwealth in 2014 (the commencement point represents fee revenue, and government subsidised Government recurrent financial assistance the first year following the major government students to fee paying students since has over time decreased as a proportion cuts of 1996). 1997, has also declined as follows:

Student revenue mix – SourcesAustralian of Expenditure Government 2014 Financial Sources of Expenditure 2013 Assistance and fee income

700

600

500

400 Australian 300 Government

200 Financial Assistance (CGS & HECS-HELP) 100

0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Fee income

Student load mix – Australian Government supported and fee paying

100%

80% Australian 60% Government

40% supported (CGS & RTS) 20%

0% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Fee paying

Total income disclosed in the financial statements as donations and bequests (endowments and expendable donations) increased in 2014 to $46.4 million from $29.3 million in 2013. This differs from the total philanthropic support raised in 2014 for the “Campaign for the University of Melbourne” that represents all philanthropic gifts including pledged donations. 10 FINANCIAL FINANCIAL PERFORMANCE REPORT 2014

Underlying operating expenditure

Underlying operating expenditure for 2014 the cost base and slow the rate of expense The Business Improvement Program costs amounted to $1,886.1 million, which was growth. In addition, 2014 underlying also account for the increase in employee $142.3 million or 8.2% higher than in 2013. operating expenditure includes increased related expenses as a percentage of total The 2014 outcome includes the costs related depreciation relating to new buildings. underlying operating expenditure compared to the implementation of the Business Excluding the factors noted, operating to 2013. Improvement Program, which while not expenditure increased by 3.1%. completed in the year, began to realign Sources of Expenditure 2014 Sources of Expenditure 2013

Sources of Underlying Depreciation and Amortisation 7.0% Operating Expenditure 2014 Other expenses 37.8%

Employee related expenses 55.2% 2014

Sources of Expenditure 2014 Sources of Expenditure 2013

Sources of Underlying Depreciation and Amortisation 6.5% Operating Expenditure 2013 Other expenses 39.1%

Employee related expenses 54.3% 2013

A detailed breakdown of expenditure is available in the notes to the100% financial statements.

80%

60%

40%

20%

0% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

100%

80%

60%

40%

20%

0% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 11

Consultant expenditure

In 2014, there were 34 consultancies Details of individual consultancies can where the total fees payable to the be viewed at http://www.unimelb.edu.au/ consultants were $10,000 or greater. publications/. In 2014, there were 2 The total expenditure incurred during consultancies where the total fees payable 2014 in relation to these consultancies to the consultants were less than $10 000. is $20.9 million (excl. GST), of which The total expenditure incurred during majority related to the Business 2014 in relation to these consultancies Improvement Program. is $18,619 (excl. GST).

Property, plant and equipment

The University holds property, plant and revalued in 2012 as a result of an The University funds capital expenditure equipment valued at $3,666.5 million as at independent valuation carried out as at 31 through a combination of its annual and 31 December 2014 (2013, $3,494.5 million). December 2012 by Colliers International retained surpluses, Commonwealth and Of this, 89.4% is represented by land and Consultancy and Valuation Pty Ltd. State government grants for capital purposes buildings and 7.9% by library, artworks and (infrastructure grants), external third party other collections. An independent valuation of nine University contributions and borrowings. During the collections was carried out at 31 December year the University spent $126.1 million on The University revalued its land during 2014 as part of the five year rolling valuation land and buildings (including construction 2014 as a result of an independent valuation policy which commenced in 2012. The 2014 in progress), $36.5 million on plant and carried out as at 31 December 2014 by valuation increased works of art and other equipment (including leased plant and Colliers International Consultancy and collections by $45.3 million. Additional equipment) and $17.8 million on the library Valuation Pty Ltd. The revaluations increased revaluation gains may be recognised in collection (including electronic items). land by $104.0 million. Buildings were last future years as a result of this policy.

Borrowings and other financial liabilities Investment portfolio

In June 2014 the University refinanced its Terminating the loan agreement, The University’s investment portfolio University Square loan facility of $115.5 while favourable in the long run, comprises a combination of long term million by terminating the loan and the incurred termination costs of $25.3 and short term managed funds. The balance associated interest rate swap of $23.2 million recognised in 2014. The revised as at 31 December 2014 was $1,417.9 million (as at 31 December 2013), and arrangement releases all previously million, an increase of $180.1 million over issuing an Australian dollar medium term held security and covenants, including 31 December 2013. This includes trust funds note (MTN) facility of $250 million with a those related to continuing borrowings. related to endowments, which are held, 7 year term. The additional capital raised for example, to provide scholarships and is to accommodate approved financially to support other specific teaching, learning, viable capital projects that meet a rate research and engagement related purposes. of return greater than the University’s The corpus of these endowments generally hurdle rate. is not available to fund the University’s operations however the income from them is. Total funds related to such trusts amounted to $528.7 million as at 31 December 2014. 12 FINANCIAL FINANCIAL PERFORMANCE REPORT 2014

Semi-autonomous bodies

As noted previously, the University’s operations encompass the activities of its semi-autonomous bodies. These are activities that are managed as semi-autonomous business operations. The aggregate surplus for semi-autonomous bodies for the year of $2.167 million is represented by:

* In 2014 Children’s Services was deregistered Semi-Autonomous Body Surplus/(Deficit) $’000 as a semi-autonomous body and was reported under a division of the University. Asialink 7 Carlton Connect (153) ** Kendall Hall has been deemed to be a semi- autonomous body for the purposes of this report. Children's Services * - Halls of Residence: »» International House 2,910 »» Kendall Hall ** (89) »» Medley Hall 357 Melbourne Theatre Company 318 Melbourne University Sport (247) The Ian Potter Museum of Art 220 Veterinary Hospital (1,155) Total 2,167

Subsidiaries

The University has nine active subsidiaries, the activities of which are included in the consolidated University group. These are statutory entities which are incorporated under the Corporations Act. Additional information for each subsidiary is contained in Note 34 of the Financial Statements. The operating results after tax of the University’s subsidiaries for the year are as follows:

* UOM Commercial’s 2014 deficit of $6.6 million Subsidiary Surplus/(Deficit) $’000 includes a building impairment of $3.2 million and restructure costs relating to the Business Australian Music Examinations Board (Vic) Limited 382 Improvement Program. Australian National Academy of Music Ltd Group (146) Melbourne Business School Limited Group (946) Melbourne Dental Clinic Ltd 90 Melbourne University Publishing Limited (89) MU Student Union Limited 274 Nossal Institute Limited (358) UMELB Pte Ltd - UOM Commercial Ltd Group * (6,563) Total (7,355) 13

Significant changes in state of affairs

The following significant changes to the state in 2013. All graduate programs in business of affairs of the consolidated University group and economics, including the MBA, occurred in the year ended 31 December are offered through Melbourne Business 2014 and the prior year. School, which in turn has become the sole graduate school for business and A new semi-autonomous body, Carlton economics at the University. Connect, was created on 9 December 2013 and began operations on 1 January 2014. In 2014 Children’s Services was deregistered It will oversee a research and innovation as a semi-autonomous body and was agenda to address some of society’s most reported under a division of the University. pressing challenges and the development of the former Royal Women’s Hospital site There were no other significant changes acquired by the University in 2012. in the state of affairs of the University and its subsidiaries. In October 2012 the University and the Melbourne Business School Ltd announced they were entering into a collaboration agreement and this was implemented

Events occuring after reporting date

There are no matters or circumstances that have arisen since the end of the financial year that have affected or may subsequently affect the financial position of the University or its subsidiaries.

Auditor-General’s qualification

The Victorian Auditor-General has again performance or return conditions. Under qualified the University’s financial report on these conditions the payment received in the grounds that unspent grants provided by advance is not recognised until the University the Federal and State governments received meets its obligations in the relevant year. in advance as at 31 December 2014 have The Auditor-General has again taken the been treated as income in advance and view that these payments should be treated recognised as a liability in the Statement of as income in the year of receipt and for that Financial Position. The University’s treatment reason has qualified the University’s financial of these payments is in accordance with report. The University does not agree with Australian Accounting Standard AASB 118 the interpretation of the nature of the income. Revenue. The University regards the receipt The University has external advice which of these payments as a reciprocal transfer confirms the University’s interpretation where the grants have outstanding of the standards. 14 INCOME FINANCIAL STATEMENT REPORT 2014

Financial Statements for the Year Ended 31 December 2014

The University of Melbourne income statement for the CONSOLIDATED UNIVERSITY year ended 31 December 2014 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Revenue from continuing operations Australian Government financial assistance »» Australian Government grants 2 773,703 776,382 770,234 772,845 »» HELP - Australian Government payments 2 236,297 212,738 236,297 212,738 State and Local Government financial assistance 3 53,267 56,300 53,182 56,074 HECS-HELP - student payments 33,030 34,850 33,030 34,850 Fees and charges 4 644,304 563,047 574,167 490,481 Investment revenue 5 88,649 74,852 83,315 67,355 Consultancy and contracts 6 83,105 76,087 78,232 74,177 Other revenue 7 133,883 119,331 138,086 116,521 Total revenue from continuing operations 2,046,238 1,913,587 1,966,543 1,825,041 Investments accounted for using the equity method (3) (10) - - Other investment income 5 167,787 50,809 164,689 51,541 Other income 7 3 3 - - Total income from continuing operations 2,214,025 1,964,389 2,131,232 1,876,582

Expenses from continuing operations

Employee related expenses 8 1,097,940 1,001,506 1,041,567 946,725 Depreciation and amortisation 9 137,734 117,779 132,719 112,719 Repairs and maintenance 10 42,856 49,802 41,326 48,086 Finance costs 11 38,440 14,207 38,253 13,996 Impairment of assets (excluding available-for-sale financial 12 2,820 1,256 (437) 5,950 assets) Loss / (gain) on disposal of assets 13 3,771 3,861 521 2,667 Other expenses 14 690,438 655,916 670,740 627,617 Total expenditure from continuing operations 2,013,999 1,844,327 1,924,689 1,757,760

Net result before impairment of available-for-sale 200,026 120,062 206,543 118,822 financial assets

Impairment expense on available-for-sale financial assets 12 23,603 2,223 23,601 2,216

Net result for the year 176,423 117,839 182,942 116,606

The above Income Statement should be read in conjunction with the accompanying notes. STATEMENT OF FINANCIAL 15 COMPREHENSIVE INCOME REPORT 2014

The University of Melbourne comprehensive income statement CONSOLIDATED UNIVERSITY for the year ended 31 December 2014 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Net result for the year 176,423 117,839 182,942 116,606

Items that may be reclassified to profit or loss Available-for-sale financial assets: »» Valuation gain / (loss) taken to equity 28(a) 80,838 159,645 80,037 151,863 »» Transferred to profit or loss on sale 28(a) (158,255) (36,762) (158,255) (36,728) Valuation gain / (loss) on cash flow hedge 28(a) - 9,697 - 9,697 Transfer of cash flow hedge to profit or loss on termination 28(a) 23,171 - 23,171 -

Items that will not be reclassified to profit or loss Gain / (loss) on revaluation of land and buildings 28(a) 108,090 (4) 104,025 (4) Impairment losses on revalued land and buildings 28(a) (21,796) - (21,796) - Gain / (loss) on revaluation of works of art 28(a) - 21,518 - 21,518

Gain / (loss) on revaluation of other collections 28(a) 45,310 3,832 45,310 3,832 Increase / (decrease) deferred government 39.3 (2,250) (43,725) (2,250) (43,725) contribution for superannuation (Increase) / decrease deferred government 39.3 2,250 43,725 2,250 43,725 employee benefits for superannuation Other (5) - (7) - Total comprehensive income for the year 253,776 275,765 255,427 266,784

The above Comprehensive Income Statement should be read in conjunction with the accompanying notes. 16 STATEMENT OF FINANCIAL FINANCIAL POSITION REPORT 2014

The University of Melbourne statement of financial position CONSOLIDATED UNIVERSITY as at 31 December 2014 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Assets Current assets Cash and cash equivalents 15 208,034 207,511 163,541 159,980 Receivables 16 129,362 109,757 113,875 93,253 Inventories 17 2,449 2,219 1,733 1,674 Other financial assets 18 115 846 - - Other non-financial assets 19 18,974 36,098 16,996 34,116 Total current assets 358,934 356,431 296,145 289,023

Non-current assets Receivables 16 105,735 108,103 104,471 110,985 Other financial assets 18 1,473,414 1,292,374 1,417,890 1,237,811 Investments accounted for using the equity method 20 7 10 - - Property, plant and equipment 21 3,804,251 3,632,776 3,666,483 3,494,495 Intangible assets 22 48,585 50,559 47,768 49,518 Other non-financial assets 19 35,998 20,678 35,998 20,678 Total non-current assets 5,467,990 5,104,500 5,272,610 4,913,487

Total Assets 5,826,924 5,460,931 5,568,755 5,202,510

Liabilities Current liabilities Trade and other payables 23 125,805 175,303 95,673 145,248 Borrowings 24 12,371 10,359 11,771 9,684 Provisions 25 223,936 181,739 215,560 175,020 Other current liabilities 26 297,752 301,474 286,308 289,526 Total current liabilities 659,864 668,875 609,312 619,478

Non-current liabilities Borrowings 24 287,558 157,339 286,562 156,670 Provisions 25 134,967 134,765 134,090 133,805 Other non-current liabilities 26 93,463 79,485 93,463 79,485 Other financial liabilities 27 - 23,171 - 23,171 Total non-current liabilities 515,988 394,760 514,115 393,131

Total liabilities 1,175,852 1,063,635 1,123,427 1,012,609

Net assets 4,651,072 4,397,296 4,445,328 4,189,901

Equity Reserves 28(a) 3,195,251 3,108,264 3,051,180 2,968,570 Retained surplus 28(b) 1,455,821 1,289,032 1,394,148 1,221,331 Total equity 4,651,072 4,397,296 4,445,328 4,189,901

The above Statement of Financial Position should be read in conjunction with the accompanying notes. STATEMENT OF FINANCIAL 17 CHANGES IN EQUITY REPORT 2014

The University of Melbourne statement of changes Retained in equity for the year ended 31 December 2014 Reserves Total Surplus $’000 $’000 $’000 Consolidated Balance at 1 January 2013 2,918,141 1,203,390 4,121,531 Changes resulting from profit or loss - 117,839 117,839 Changes from other comprehensive income »» Gain/(loss) on revaluation of land and buildings (4) - (4) »» Gain/(loss) on revaluation of works of art 21,518 - 21,518 »» Gain/(loss) on revaluation of other collections 3,832 - 3,832 »» Available-for-sale financial assets: – Valuation gains/(losses) taken to equity 159,645 - 159,645 – Transferred to profit or loss on sale (36,762) - (36,762) »» Valuation gain/(loss) on cash flow hedge 9,697 - 9,697 Total comprehensive income 157,926 117,839 275,765 Net Transfers 32,197 (32,197) - Balance at 31 December 2013 3,108,264 1,289,032 4,397,296

Balance at 1 January 2014 3,108,264 1,289,032 4,397,296 Changes resulting from profit or loss - 176,423 176,423 Changes from other comprehensive income »» Gain/(loss) on revaluation of land and buildings 108,090 - 108,090 »» Impairment Losses on Revalued Assets (21,796) - (21,796) »» Gain/(loss) on revaluation of other collections 45,310 - 45,310 »» Available-for-sale financial assets: – Valuation gains/(losses) taken to equity 80,838 - 80,838 – Transferred to profit or loss on sale (158,255) - (158,255) »» Transfer of cash flow hedge to profit or loss on termination 23,171 - 23,171 »» Other transfers to profit or loss (5) - (5) Total comprehensive income 77,353 176,423 253,776 Net Transfers 9,634 (9,634) - Balance at 31 December 2014 3,195,251 1,455,821 4,651,072

University Balance at 1 January 2013 2,786,517 1,136,600 3,923,117 Changes resulting from profit or loss - 116,606 116,606 Changes from other comprehensive income »» Gain/(loss) on revaluation of land and buildings (4) - (4) »» Gain/(loss) on revaluation of works of art 21,518 - 21,518 »» Gain/(loss) on revaluation of other collections 3,832 - 3,832 »» Available-for-sale financial assets: – Valuation gains/(losses) taken to equity 151,863 - 151,863 – Transferred to profit or loss on sale (36,728) - (36,728) »» Valuation gain/(loss) on cash flow hedge 9,697 - 9,697 Total comprehensive income 150,178 116,606 266,784 Net Transfers 31,875 (31,875) - Balance at 31 December 2013 2,968,570 1,221,331 4,189,901

Balance at 1 January 2014 2,968,570 1,221,331 4,189,901 Changes resulting from profit or loss - 182,942 182,942 Changes from other comprehensive income »» Gain/(loss) on revaluation of land and buildings 104,025 - 104,025 »» Impairment Losses on Revalued Assets (21,796) - (21,796) »» Gain/(loss) on revaluation of other collections 45,310 - 45,310 »» Available-for-sale financial assets: – Valuation gains/(losses) taken to equity 80,037 - 80,037 – Transferred to profit or loss on sale (158,255) - (158,255) »» Transfer of cash flow hedge to profit or loss on termination 23,171 - 23,171 »» Other transfers to profit or loss (7) - (7) Total comprehensive income 72,485 182,942 255,427 Net Transfers 10,125 (10,125) - Balance at 31 December 2014 3,051,180 1,394,148 4,445,328

The above Statement of Changes in Equity should be read in conjunction with the accompanying notes. 18 STATEMENT OF FINANCIAL CASH FLOWS REPORT 2014

The University of Melbourne statement of cash flows for the CONSOLIDATED UNIVERSITY 2014 2013 2014 2013 year ended 31 December 2014 Note $’000 $’000 $’000 $’000 Cash flows from operating activities Australian Government grants 982,971 984,317 982,971 984,024 OS-HELP 3,073 559 3,073 559 State Government grants 56,871 47,914 56,785 47,688 Local Government Grants 234 403 234 403 HECS-HELP student payments 33,030 34,850 33,030 34,850 Dividends received 73,385 73,073 69,258 67,041 Interest received 10,029 9,946 8,780 8,504 Receipts of student and other fee-for-service activities 648,851 584,688 578,730 512,072 Other inflows 223,002 184,203 222,650 178,456 Payments to employees (1,078,901) (1,006,671) (1,022,911) (952,291) Payments to suppliers (inclusive of GST) (553,322) (478,195) (503,695) (427,700) Interest and other cost of finance paid (13,135) (14,207) (12,948) (13,996) Termination of interest rate swap (25,305) - (25,305) - GST recovered / (paid) 258 (748) 419 (299) Other outflows (205,256) (202,991) (227,662) (220,772) Net cash inflow / (outflow) from operating activities 36 155,785 217,141 163,409 218,539

Cash flows from investing activities Proceeds from sale of property, plant and equipment 10,427 357 10,425 345 Proceeds from sale of other financial assets 1,065,649 216,978 1,054,940 211,951 Other investing inflows 4,206 7,028 - - Payment for property, plant and equipment (174,438) (183,548) (171,443) (175,782) Payment for other financial assets (1,176,473) (172,721) (1,169,641) (165,086) Payment for intangible assets (16,145) (21,284) (15,516) (20,907) Net cash inflow / (outflow) from investing activities (286,774) (153,190) (291,235) (149,479)

Cash flows from financing activities Proceeds from borrowings 249,478 2,003 249,478 2,003 Other inflows 699 - - - Loans granted (2,142) (2,316) (2,498) (6,116) Repayment of borrowings (121,666) (6,982) (121,666) (6,982) Repayment of finance leases (3,053) (5,331) (2,123) (4,247) Other financing outflows - (74) - (74) Net cash inflow / (outflow) from financing activities 123,316 (12,700) 123,191 (15,416)

Net increase / (decrease) in cash and cash equivalents (7,673) 51,251 (4,635) 53,644

Cash and cash equivalents at the beginning of the year 207,511 156,260 159,980 106,336

Cash and cash equivalents at the end of the year 15 199,838 207,511 155,345 159,980

The above Cashflow Statement should be read in conjunction with the accompanying notes. NOTES TO AND FORMING PART FINANCIAL 19 OF THE FINANCIAL STATEMENTS REPORT 2014

Notes to and forming part of the Financial Statements

Note 1 Statement of Significant Accounting Policies

The principal accounting policies adopted or areas where assumptions and estimates (iv) Key judgements – financial asset by the University of Melbourne in the are significant to the financial statements and liability classification preparation of the financial report for are described below: The Group’s accounting policies provide the year ended 31 December 2014 scope for assets and liabilities to be are set out below. These policies have (i) Key estimates – impairment designated on inception into different been consistently applied to all the years The Group assesses impairment at accounting categories in certain presented, unless otherwise stated. The each reporting date by evaluating circumstances: financial report includes separate financial conditions specific to the Group that statements for the University as an individual may lead to impairment of assets. a) In designating financial assets at fair entity and the consolidated entity, consisting Where an impairment trigger exists, value through profit or loss, the Group of the University and its subsidiaries. the recoverable amount of the asset has determined that it has met one The University and its subsidiaries are is determined. The Group’s impairment of the criteria for this designation set referred to in this financial report as policies are set out in Note 1.9 for out in Note 1.8 (i). the Group or the consolidated entity. financial assets and Note 1.14 for b) The Group classifies financial assets non-financial assets. as held-to-maturity where it has 1.1 Basis of preparation determined that it has both the positive (ii) Key estimates – determination The annual financial statements represent intention and ability to hold the assets of fair values the audited general purpose financial until their maturity date, as required statements of the University of Melbourne. Financial assets and liabilities in Note 1.8 (iii). They have been prepared on an accrual The fair value of financial assets and c) In determining whether income basis and comply with the Australian financial liabilities must be estimated is reciprocal in nature the Group Accounting Standards. for recognition and measurement or has determined that it has met for disclosure purposes. Additionally the statements have been the criteria set out in Note 1.3 (i). The fair value of financial instruments prepared in accordance with following d) In determining the treatment of the traded in active markets is based on statutory requirements: service concession arrangement the quoted market prices. The quoted market Group has determined the lease over »» Higher Education Support Act 2003 price used for financial assets held by the land to be an operating lease. (Financial Statement Guidelines) the Group is the closing market price »» Financial Management Act 1994 at balance sheet date. The determination of fair values for financial assets and 1.2 Principles of consolidation The University of Melbourne is a not-for-profit financial liabilities for which there is no (i) Subsidiaries entity and these statements have been observable market price requires the The consolidated financial statements prepared on that basis. Some of the use of valuation techniques. incorporate the assets and liabilities requirements for not-for-profit entities For financial instruments that trade of all subsidiaries of the University as are inconsistent with IFRS requirements. infrequently and have little price at 31 December 2014, and their results for the year then ended. Historical cost convention transparency, fair value is less objective, and requires varying degrees of The financial statements have been prepared judgement depending on liquidity, Subsidiaries are entities controlled by the under the historical cost convention as concentration, uncertainty of market Group. The Group controls an entity when modified by the revaluation of available factors, pricing assumptions and other it is exposed to, or has rights to, variable for sale financial assets, financial assets risks affecting the specific instrument. returns from its involvement with the entity and liabilities at fair value through profit and has the ability to affect those returns or loss and certain classes of property, Property, plant and equipment through its power over the entity. The plant and equipment. Land and buildings are valued by an financial statements of subsidiaries are external valuer on a cyclical basis, or included in the consolidated financial Critical accounting estimates earlier if there is a material movement. statements from the date on which The preparation of financial statements Works of art and other collections are control commences until the date in conformity with Australian accounting valued by management on a cyclical on which control ceases. standards requires the use of certain basis based on a combination of internal critical accounting estimates. It also and external expert advice. (ii) Associates requires management to exercise its (iii) Key estimates – useful lives of Associates are all entities over which judgement in the process of applying the physical and intangible assets the Group has significant influence University’s accounting policies. Estimates but not control or joint control, generally and judgements are continually evaluated The Group reviews the estimated useful accompanying a shareholding of between and are based on historical experience and lives of property, plant and equipment 20% and 50% of the voting rights. other factors including expectations of future and intangible assets at the end of each Investments in associates are accounted events that are believed to be reasonable reporting period. for using the equity method of accounting, under the circumstances. The areas involving after initially being recognised at cost. a higher degree of judgement or complexity, 20 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 1 Statement of Significant Accounting Policies (continued)

The Group’s share of its associates’ post- (ii) HELP payments Collectability of trade receivables is acquisition profits or losses is recognised Revenue from HELP is categorised reviewed on an ongoing basis. Debts which in the Income Statement, and its share of into those received from the Australian are known to be uncollectible are written post-acquisition movements in reserves Government and those received directly off. An allowance for impaired receivables is is recognised in the Statement of Financial from students. Revenue is recognised established when there is objective evidence Position. The cumulative post-acquisition and measured in accordance with the that the Group will not be able to collect all movements are adjusted against the carrying above disclosure. amounts due according to the original terms amount of the investment. of receivables. Significant financial difficulties (iii) Fees and charges of the debtor, probability that the debtor will When the group’s share of losses in an Fee-for-service revenue is recognised upon enter bankruptcy or financial reorganisation, associate equals or exceeds its interest in the delivery of the service. Where revenue of and default or delinquency in payments the associate, including any other unsecured a reciprocal nature has been clearly received (more than 90 days overdue) are considered receivables, the Group does not recognise in respect of programs or services to be to be indicators that the trade receivable further losses unless it has incurred delivered in the following year, such amounts is impaired. The amount of the allowance is obligations or made payments on behalf are deferred and disclosed as income the difference between the asset’s carrying of the associate. in advance in accordance with AASB amount and the present value of estimated 118 Revenue. future cash flows. Cash flows relating to (iii) Transactions eliminated short-term receivables are not discounted on consolidation (iv) Royalties, trademarks and licences as the effect of discounting is immaterial. Intercompany transactions and balances, Movements in the balance of the allowance Revenue from royalties, trademarks and any unrealised income and expenses are recognised in the Income Statement. and licences is recognised as income arising from transactions between when earned. consolidated entities are eliminated. 1.7 Inventories Unrealised gains on transactions between (v) Investment revenue the Group and its associates are eliminated Inventories comprising finished goods, raw against the investment to the extent of the Dividend revenue from investments is materials, work in progress, fodder and hay Group’s interest in the associates. Unrealised recognised when the Group’s right to receive stocks are measured at the lower of cost and losses are eliminated in the same way as payment has been established. Interest net realisable value, with adjustments made unrealised gains, but only to the extent revenue is recognised on an accrual basis to take into account obsolescence. Costs that there is no evidence of impairment. taking into account the interest rates are assigned to individual items of inventory applicable to the financial assets. on the basis of the first-in, first-out method.

1.3 Revenue recognition (vi) Other The Group’s livestock are measured at their Revenue is measured at the fair value Revenue from the sale of goods is fair value less estimated point-of-sale costs of the consideration received or receivable. recognised upon the delivery of goods in accordance with AASB 141 Agriculture. Revenue is recognised for the major to customers. Revenue in the form of The fair value of this item is determined business activities as follows: endowments and bequests is brought based on market prices in the local area. to account when received. All revenue is (i) Government financial assistance stated net of Goods and Services Tax (GST). 1.8 Financial Assets Government grants are recognised at their The Group classifies financial instruments fair value when there is reasonable assurance 1.4 Income tax into the following categories: financial assets that the grant will be received and the at fair value through profit or loss, loans and Group has complied with the attached The University of Melbourne and its receivables, held-to-maturity investments conditions. Such grants are treated as subsidiaries are exempt from income tax and available-for-sale financial assets. The non-reciprocal transfers in accordance pursuant to Part 50.1 of the Income Tax classification of investments depends on with AASB 1004 Contributions. Assessment Act 1997. The balance sheet method of tax-effect accounting is adopted. the purpose for which they were acquired. Government grants which have outstanding The classification of investments is determined by management at initial performance or return conditions are 1.5 Cash and cash equivalents recognised in accordance with AASB 118 recognition and is re-evaluated at each In the Statement of Cash Flows, cash Revenue with reference to the percentage of reporting date, where applicable. and cash equivalents include cash on completion method. The stage of completion hand and at bank, at-call deposits, bank (i) Financial assets at fair is measured by reference to total expenditure bills with a maturity of 90 days or less and value through profit or loss incurred to date compared with the funding bank overdrafts. Bank overdrafts are shown provided. The University regards the receipt This category has two sub-categories: within borrowings in current liabilities. of such revenue as a reciprocal transfer financial assets held for trading and those as the University is required to provide the designated at fair value through profit or necessary services in return for grant funding. 1.6 Trade receivables loss on initial recognition. A financial asset A liability is recognised in the Statement of Trade receivables are recognised initially is classified in this category if acquired Financial Position in respect of grant revenue at fair value and subsequently measured principally for the purpose of selling in which is unearned at the balance date. at amortised cost less any provision for the short term or if so designated by AASB 118 Revenue requires revenue impairment. Trade receivables are due management. Derivatives are categorised to be recognised in the reporting periods for settlement no more than 30 days as held for trading unless they are designated in which the services are rendered. from the date of recognition. as hedges. Assets in this category are classified as current assets if they are either held for trading or are expected to be realised within twelve months of the balance sheet date. 21

Note 1 Statement of Significant Accounting Policies (continued)

Realised and unrealised gains and losses (v) Other investments as estimated discounted cash flows, are arising from changes in the fair value of Investments in other unlisted entities are used to determine fair value for the remaining financial assets at fair value through profit carried at fair value. Where a fair value is assets and liabilities. or loss are included in the Income Statement not readily available, investments are carried The level in the fair value hierarchy shall be in the period in which they arise. at the lower of cost or recoverable amount. determined on the basis of the lowest level (ii) Loans and receivables input that is significant to the fair value 1.9 Impairment of financial assets Loans and receivables are non-derivative measurement in its entirety. financial assets with fixed or determinable The Group assesses at each balance date Fair value measurement of non-financial payments that are not quoted in an active whether there is objective evidence that a assets is based on the highest and best use market. They arise when an entity provides financial asset or group of financial assets of the asset. The Group considers market money, goods or services directly to a debtor is impaired. A financial asset is considered participants use of, or purchase price of the with no intention of selling the receivable. to be impaired if objective evidence indicates asset, to use it in a manner that would be They are included in current assets except that one or more events had a negative highest and best use. for those with maturities greater than twelve effect on the estimated future cash flows of that asset. months after the balance sheet date, which The carrying value less impairment provision are classified as non-current assets. These of trade receivables and payables are assets are initially recognised at fair value In the case of available-for-sale financial assets, a significant or prolonged decline assumed to approximate their fair values plus any directly attributable transaction due to their short-term nature. The fair value costs. Subsequent to initial recognition, in the fair value of an asset below its cost is considered to indicate impairment. The of financial liabilities for disclosure purposes they are measured at amortised cost is estimated by discounting the future using the effective interest method. University has assumed in its impairment assessment that a significant decline in fair contractual cash flows at the current market interest rate that is available to the Group (iii) Held-to-maturity investments value occurs when market value has declined by greater than 20% below historical cost, for similar asset or liabilities. Held-to-maturity investments are non- and a prolonged decline occurs when market derivative financial assets with fixed or Assets and liabilities are classified using a value remains below historical cost for more determinable payments and fixed maturities fair value hierarchy reflecting the significance than nine months. where management has the positive intention of inputs used in making the measurements, and ability to hold to maturity. These assets If any such evidence of impairment exists as outlined above in this note. are initially recognised at fair value plus for available-for-sale financial assets, the any directly attributable transaction costs. cumulative loss – measured as the difference 1.11 Property, plant and equipment Subsequent to initial recognition, they between the acquisition cost and the current Each class of property, plant and equipment are measured at amortised cost using fair value, less any impairment loss on the effective interest method. is carried at cost or fair value less, where that financial asset previously recognised applicable, any accumulated depreciation in profit or loss – is removed from equity (iv) Available-for-sale financial assets and impairment losses. and recognised in the Income Statement. Available-for-sale financial assets, comprising Impairment losses recognised in the Income The University has a policy of capitalising principally marketable equity securities, are Statement on equity instruments are not property, plant and equipment costing non-derivative financial assets that are either reversed through the Income Statement. $10,000 or more. Items under $10,000 are designated in this category or not classified expensed, with exception to Works of Art, in any of the other categories. They are Library and Other Collections which are included in non current assets unless either 1.10 Fair value measurement capitalised. Some subsidiaries have lower management intends to dispose of the The Group classifies fair value measurements capitalisation thresholds, however the overall investment or the settlement date of the using a fair value hierarchy that reflects the effect of these is considered to be immaterial investment is within twelve months of the significance of the inputs used in making in accordance with AASB 1031 Materiality. balance sheet date. the measurements. There has been no change to the Purchases and sales of investments are The fair value of assets or liabilities traded capitalisation threshold from the prior year. recognised on the trade date i.e. the date in active markets (such as publicly traded (i) Land and buildings on which the Group commits to purchase derivatives, and trading and available-for-sale or sell the asset. Investments are initially securities) is based on quoted market prices Land and buildings are initially recorded recognised at fair value plus transaction for identical assets or liabilities at the balance in the Statement of Financial Position costs for all financial assets not carried at sheet date (Level 1). The quoted market price at cost, which is considered to equate fair value through profit or loss. Financial used for assets held by the Group is the to fair value. Fair value for the purposes assets are derecognised when the rights to most representative of fair value in the of the Group’s buildings is depreciated receive cash flows from the financial assets circumstances within the bid-ask spread. replacement cost unless specific have expired or have been transferred and circumstances dictate otherwise. the Group has transferred substantially all The fair value of assets or liabilities that are Subsequent to initial recognition, land the risks and rewards of ownership. not traded in an active market (for example, over the counter derivatives) is determined and buildings are valued by an external Unrealised gains and losses arising from using valuation techniques. The Group uses valuer on a cyclical basis unless there is changes in the fair value are recognised in a variety of methods and makes assumptions a material movement between valuations. equity in the available-for-sale financial assets that are based on market conditions existing These assets are disclosed as measured revaluation reserve. When securities classified at each balance date. Quoted market prices at fair value. At the date of revaluation as available for sale are sold or impaired, or dealer quotes for similar instruments (Level any accumulated depreciation is eliminated the accumulated fair value adjustments 2) are used for long-term debt instruments against the gross carrying amount of the are included in the Income Statement. held. Other techniques that are not based asset. The net value is then restated to on observable market data (Level 3) such the revalued amount of the asset. 22 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 1 Statement of Significant Accounting Policies (continued)

(ii) Works of Art & Other Collections The University’s depreciation rates are: 1.13 Revaluation of non-current assets The University’s works of art and other Subsequent to initial recognition, non-current Buildings collections are measured on a fair value physical assets, other than plant and basis and are valued on a cyclical basis »» Structure/shell/building fabric 2.5% equipment, leasehold improvements, the unless there is a material movement between »» Site engineering services library collection and intangible assets are valuations. A five year rolling valuation plan and central plant 4% measured at fair value. In accordance with is in place for valuing these collections. »» Fit out 8% the not-for-profit requirements of AASB 116, revaluation increments are credited directly (iii) Library collection »» Trunk reticulated building systems 5% to the asset revaluation reserve, except that, to the extent that an increment reverses a The University’s general library collection, Plant and equipment which excludes the rare book collection and revaluation decrement in respect of that class electronic publications, is recorded at cost »» Motor vehicles 20% of asset previously recognised as an expense less any accumulated depreciation and, »» Furniture 10% in the net result, the increment is recognised where applicable, any impairment losses. »» General equipment 25% as income in the net result. Revaluation decrements are recognised immediately »» Scientific equipment (iv) Plant and equipment as expenses in the net result, except that, The University’s plant and equipment, – Large research equipment 20% to the extent that a credit balance exists in which includes motor vehicles, furniture – Other scientific equipment 33.33% the asset revaluation reserve in respect of and all equipment with exception to »» Computing equipment 33.33% the same class of assets, they are debited leased equipment is recorded in the directly to the asset revaluation reserve. Statement of Financial Position at cost Leasehold improvements (amortised less depreciation and, where applicable, over the term of the lease) Revaluation increments and decrements any impairment losses. relating to individual assets within a class »» Leased plant and equipment 25% of property, plant and equipment are offset against one another within that class but (v) Leasehold improvements Library collection are not offset in respect of assets in different Leasehold improvements are recorded »» Monographs 5% classes. Revaluation reserves are not in the Statement of Financial Position at »» Periodicals 3.33% transferred to retained earnings on cost less amortisation and, where applicable, derecognition of the relevant asset. any impairment losses. »» Audio-visual materials 20%

(vi) Leased plant and equipment There were no material changes to 1.14 Impairment of non-financial assets depreciation rates in 2014. Depreciation rates Plant and equipment held under a finance At each reporting date, all assets except for used by some subsidiaries vary slightly from lease arrangement is initially recorded in those held at fair value including inventories, the rates stated above, however the effect of the Statement of Financial Position at the assets arising from employee benefits and these differences is considered immaterial. lower of the fair value of the leased plant financial instrument assets are assessed and equipment and the present value Acquisitions are depreciated from the date to determine whether there is any indication of minimum lease payments, and is of purchase; disposals are depreciated up of impairment. If there is an indication of depreciated over the shorter of the to the date of sale or when classified as impairment, the assets concerned are tested asset’s useful life and the lease term. held-for-sale. as to whether their carrying amount exceeds the recoverable amount, and the difference (vii) Construction in progress is written-off by a charge to the Income 1.12 Intangible Assets Construction in progress is recorded Statement except to the extent that the write- in the Statement of Financial Position (i) Research down can be debited to an asset revaluation at cost. Capital expenditure relating to Expenditure on research activities is reserve applicable to that class of asset. the refurbishment of buildings which adds recognised in the Income Statement value rather than maintaining the value of as an expense when it is incurred. At each reporting date, assets previously the buildings is included in construction in determined to be impaired are assessed for progress. When construction projects are (ii) Software circumstances indicating that an impairment completed, the balance within construction Major computer software is recorded in loss recognised in prior periods no longer in progress is transferred to buildings. the Statement of Financial Position at cost exists or may have decreased. If there is an less amortisation and, where applicable, indication that the impairment loss has been (viii) Subsequent costs any impairment losses. With exception reversed, the assets concerned are tested The costs of the day-to-day servicing to the research phase of development, as to whether the recoverable amount of property, plant and equipment are all allowable costs are capitalised in the exceeds the carrying amount. recognised in the Income Statement year they are incurred. Amortisation is Where it is not possible to estimate the in the period in which they are incurred. provided on a straight line basis at rates recoverable amount of an individual asset, between 14.29% and 33.33% (2013, the University estimates the recoverable (ix) Depreciation between 14.29% and 33.33%). amount of the cash-generating unit to Depreciation is provided on a straight which the asset belongs. line basis on all tangible fixed assets other (iii) Electronic Publications than land, construction in progress, works Electronic publications are capitalised of art and other collections, none of which and amortised on a straight line basis. 1.15 Trade and other payables are depreciated. The amortisation rate for electronic These amounts represent liabilities for goods publications is 25% (2013, 25%). and services provided to the Group prior to the end of financial year, which are unpaid. 23

Note 1 Statement of Significant Accounting Policies (continued)

The amounts are unsecured and are usually (iii) Superannuation On initial designation of the hedge, the Group paid within 30 days commencing from the Employee contributory superannuation funds formally documents the relationship between month following recognition. managed outside of the University exist to the hedging instrument and hedged item, provide benefits for the Group’s employees including the risk management objectives 1.16 Borrowings and their dependents on retirement, disability and strategy in undertaking the hedge transaction, together with the methods that Borrowings are initially recognised at fair or death of the employee. The contributions made to these funds are recorded in the will be used to assess the effectiveness of value, net of transaction costs incurred. the hedging relationship. The Group makes Borrowings are subsequently measured Income Statement. Further details are provided in Note 39. an assessment, both at the inception of the at amortised cost. Any difference between hedge relationship as well as on an ongoing the proceeds (net of transaction costs) (iv) Unfunded superannuation liabilities basis, whether the hedging instruments are and the redemption amount is recognised expected to be “highly effective” in offsetting in the Income Statement over the period The unfunded liabilities recorded in the Statement of Financial Position under the changes in the fair value or cash flows of the borrowings using the effective of the respective hedged items during the interest method. provisions have been determined by the actuary of the Victorian Government period for which the hedge is designated, and whether the actual results of each hedge Borrowings are removed from the Statement Superannuation Office and relate to are within a range of 80-125 percent. of Financial Position when the obligation employees who are members of the State Superannuation Scheme. specified in the contract is discharged, The effective portion of changes in the cancelled or expired. Borrowings are An arrangement exists between the fair value of derivatives that are designated classified as current liabilities unless the and qualify as cash flow hedges are deferred Group has an unconditional right to defer Australian Government and the State Government to meet the unfunded liability in equity. The gain or loss relating to the settlement of the liability for at least twelve ineffective portion is recognised immediately months after the balance sheet date. for the University’s beneficiaries of the State Superannuation Schemes on an emerging in profit or loss as part of other expenses cost basis. This arrangement is evidenced by or other income. Amounts deferred in equity 1.17 Borrowing costs the State Grants (General Revenue) are recycled in profit or loss in the periods Borrowing costs including those incurred for Amendment Act 1987, Higher Education when the hedged item is recognised in the construction of any qualifying asset are Funding Act 1988 and subsequent amending profit or loss in the same line of the income expensed during the period of time that is legislation. Accordingly, the unfunded statement as the recognised hedged item. required to complete and prepare the asset liabilities have been recognised in the Hedge accounting is discontinued for its intended use or sale. Statement of Financial Position under when the Group revokes the hedging Provisions (Note 25) with a corresponding relationship, the hedging instrument expires asset recognised under Receivables (Note 1.18 Employee benefits or is sold, terminated, or exercised, or no 16). The recognition of both the asset and (i) Short-term obligations longer qualifies for hedge accounting. Any the liability consequently does not affect the cumulative gain or loss deferred in equity at Provision is made for the liability for year-end net asset position of the University that time remains in equity and is recognised employee benefits, including annual leave and its subsidiaries. Refer to Note 39.3 for when the forecast transaction is ultimately and long service leave, arising from services further details. rendered by employees at the reporting recognised in profit or loss. When a forecast date. Employee benefits which are expected transaction is no longer expected to occur, 1.19 Provisions to be wholly settled within 12 months have the cumulative gain or loss that was deferred been measured at the amounts expected (i) WorkCover Provision in equity is recognised immediately in profit or loss. to be paid when the liability is settled, The University is a Self Insurer for Workers’ plus related on-costs. Compensation and WorkCover. A provision At the beginning of the reporting period the is recognised representing an estimate (ii) Other long-term obligations Group held one derivative, being an interest of the total outstanding liability for workers’ rate swap which was designated as a cash Employee benefits not expected to be compensation claims. The value of flow hedge to remove the Group’s exposure wholly settled within 12 months have the provision is based on an actuarial to interest rate risk on its borrowings. This been measured at the present value of the assessment carried out at balance date. interest rate swap was terminated on 30 estimated future cash outflows to be made June 2014, details about the termination of for those benefits. Liabilities for long service (ii) Other Provisions the Group’s interest rate swap are disclosed leave are measured using the projected unit Other provisions are measured at the present in Note 27 and discontinuation of the hedge credit method which measures the present value of management’s best estimate of the accounting through the Hedging Reserve value of expected future payments to be expenditure required to settle the present is disclosed in Note 28. made in respect of services provided by obligation at the balance sheet date. employees up to the reporting date. The discount rate of 2.92% (2013, 4.32%) 1.21 Capital contributions to buildings 1.20 Derivative financial instruments is based on Indicative Mid Rates of (i) Contributions received Derivatives are initially recognised at fair value Commonwealth Government Securities. Contributions from third parties towards on the date a derivative contract is entered the construction of buildings in exchange The obligations are presented as current into and are subsequently remeasured to for the right to occupy space are netted liabilities in the balance sheet if the entity their fair value. The method of recognising against expenditure in construction in does not have an unconditional right to defer the resulting gain or loss depends on whether progress. Upon completion contributions settlement for at least twelve months after the derivative is designated as a hedging received are recognised as rental in advance, the reporting date, regardless of when the instrument, and if so, the nature of the item classified as a current and non-current liability actual settlement is expected to occur. being hedged. and amortised over the period of the lease. 24 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 1 Statement of Significant Accounting Policies (continued)

(ii) Contributions made (iii) Finance leases 1.28 New accounting standards Contributions made by the Group to third Leases of property, plant and equipment and interpretations parties towards the construction of buildings where the Group, as lessee, has substantially In the current year, the Group has adopted in exchange for the right to occupy space are all the risks and rewards of ownership are all of the new and revised Standards and included in prepayments. Upon completion classified as finance leases. Finance leases Interpretations issued by the Australian the rental prepayment is classified as current are capitalised at the inception of the lease Accounting Standards Board that are and non-current and amortised over the at the lower of the fair value of the leased relevant to the operations and effective period of the lease. property and the present value of the for the current annual reporting period. minimum lease payments. The corresponding At the date of this report certain new 1.22 Service concession arrangements rental obligations, net of finance charges, are included in Current and Non-Current Accounting Standards and Interpretations The University entered into an arrangement Borrowings. Each lease payment is allocated have been published that are not mandatory where student accommodation will be between the liability and the finance cost. for the financial year ending 31 December constructed and operated by a private The finance cost is charged to the Income 2014. They are available for early adoption, sector body on University land under Statement over the lease period so as to but have not been applied in preparing this a 38 year lease. The 648 bed student produce a constant periodic rate of interest financial report. Those which may be relevant accommodation facility is due to open on the remaining balance of the liability to the Group are set out below. The Group in early 2016. Under the terms of the for each period. Property, plant and does not plan to adopt these standards early. project deed, ownership of the student equipment acquired under finance leases accommodation facility will be acquired by are depreciated over the shorter of the »» AASB 1053 Application of Tiers of the University on expiry of the 38 year lease. asset’s useful life and the lease term. Australian Accounting Standards was published in June 2010 and applies to The student accommodation facility reporting periods beginning on or after will not be recognised as an asset until 1.25 Rounding 1 July 2014. This standard allows some ownership passes to the University at the All amounts shown in the financial statements entities to apply reduced disclosure expiry of the 38 year lease. The lease for are expressed by reference to the nearest requirements in their annual financial the land is classified as an operating lease thousand dollars unless otherwise specified. statements. Application of AASB in accordance with AASB 117 Leases. 1053 is not expected to result in any 1.26 Changes in comparatives material changes to the Group’s future 1.23 Goods and services tax (GST) financial reports. Where necessary, comparative information Income, expenses and assets are recognised has been reclassified to enhance »» AASB 15 Revenue from contracts net of the amount of Goods and Services comparability in respect of changes in with customers was published in Tax (GST), except where the amount of GST presentation adopted in the current year. December 2014 and becomes effective incurred is not recoverable from the taxation for reporting periods beginning on or after authority. In these circumstances, the GST is 1 January 2017. AASB 15 will establish 1.27 Changes to accounting recognised as part of the cost of acquisition a comprehensive and robust framework policy and estimates of the asset or as part of the expense. for the recognition, measurement and The Group has adopted the following new disclosure of revenue from contracts with Receivables and payables are stated with standards and amendments to standards, customers. Application of AASB 15 may the amount of GST included. The net amount including any consequential amendments result in material changes to the Group’s of GST recoverable from or payable to the to other standards: future financial reports however the Australian Taxation Office (ATO) is included quantitative effect of the Group adopting as a current asset or liability in the Statement »» AASB 10 Consolidated Financial this standard has not yet been determined. Statements of Financial Position. »» AASB 9 Financial Instruments was »» AASB 11 Joint Arrangements published in September 2013 and Cash flows are presented on a net basis »» AASB 12 Disclosure of Interests becomes effective for reporting periods in the Statement of Cash Flows with the in Other Entities beginning on or after 1 January 2018. net cash inflow/ (outflow) to/from the This standard prescribes classification ATO being recorded separately. The GST The nature and effects of changes and measurement requirements for components of cash flows arising from are explained below: financial assets and includes some investing or financing activities which are significant changes from the current recoverable from, or payable to, the ATO As a result of AASB 10 the Group accounting requirements contained are presented as operating cash flows. has changed its accounting policy for in AASB 139 Financial Instruments: determining whether it has control over Recognition and Measurement. Upon 1.24 Leases and consequently whether it consolidates first-time application of this new standard, its investees. There has been no change (i) Operating leases as lessee the Group will be required to elect whether in the control assessment of investees. The Group leases certain land and buildings. to recognise fair value changes in other comprehensive income or through profit Leases where the lessor retains substantially AASB 11 had no impact on the Group or loss. Application of AASB 9 may result all the risks and benefits of ownership of as no joint arrangements exist. the asset are classified as operating leases. in material changes to the Group’s future Payments made under operating leases As a result of AASB 12 the Group has financial reports however the quantitative are charged to the Income Statement amended its disclosures for subsidiaries effect of the Group adopting this standard on a straight-line basis over the period and associates. has not yet been determined. of the lease. Other than the above, there were no A number of other new or revised (ii) Operating leases as lessor changes to the University’s accounting standards, amendments to standards and policies and / or estimates during the year. interpretations applicable to future reporting Lease income from operating leases is periods have been issued, none of which recognised in the Income Statement on are expected to have a material impact a straight-line basis over the lease term. on the Group’s future financial reports. 25

Note 2 Australian Government Financial Assistance including HECS-HELP and FEE-HELP

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

(a) Commonwealth Grants Scheme (CGS) and Other Grants 40.1 Commonwealth Grant Scheme * 255,259 252,528 255,259 252,528 Indigenous Support Program 701 711 701 711 Partnership and Participation Program ** 2,570 3,988 2,570 3,988 Disability Support Program 242 208 242 208 Superannuation Supplementation 9,189 8,478 9,189 8,478 National Institutes 5,349 5,299 5,349 5,299 Australian Maths & Science Partnership Program 243 - 243 - Improving the Quality of Maths & Science Teaching 1,189 - 1,189 - Promotion of Excellence in Learning and Teaching 805 351 805 351 Reward Funding - 609 - 609 Other 484 467 484 467 Total Commonwealth Grant Scheme and Other Grants 276,031 272,639 276,031 272,639

(b) Higher Education Loan Programs 40.2 HECS-HELP 140,165 132,256 140,165 132,256 FEE-HELP 92,734 77,185 92,734 77,185 SA-HELP 40.8 3,398 3,297 3,398 3,297 Total Higher Education Loan Programs 236,297 212,738 236,297 212,738

(c) Scholarships 40.3 Australian Postgraduate Awards 28,153 27,681 28,153 27,681 International Postgraduate Research Scholarships 2,318 2,352 2,318 2,352 Commonwealth Education Cost Scholarships # 15 168 15 168 Commonwealth Accommodation Scholarships # 165 (158) 165 (158) Indigenous Access Scholarships 85 113 85 113 Total scholarships 30,736 30,156 30,736 30,156

(d) Education research grants 40.4 Joint Research Engagement Program 33,826 33,809 33,826 33,809 Research Training Scheme 70,923 72,818 70,923 72,818 JRE Engineering Cadetship 403 271 403 271 Research Infrastructure Block Grants 30,688 29,531 30,688 29,531 Sustainable Research Excellence in Universities 22,922 22,781 22,922 22,781 Total Education research grants 158,762 159,210 158,762 159,210

(e) Capital funding 40.5 Teaching and Learning Capital Fund - 199 - 199 Education Investment Fund 13,673 29,984 13,673 29,984 Total capital funding 13,673 30,183 13,673 30,183

* Includes the basic CGS grant amount, CGS-Regional Loading, CGS-Enabling Loading, Maths and Science ** Includes Equity Support Program Transition Loading and Full Fee Places Transition Loading. For 2014, this is recognised based on the amount # Includes Grandfathered Scholarships, received from the Commonwealth, which is net of the efficiency dividend that is yet to be confirmed in legislation. National Priority and National Accommodation This totals $5.041 million. Priority Scholarships respectively 26 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 2 Australian Government Financial Assistance including HECS-HELP and FEE-HELP (continued)

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

(f) Australian Research Council (ARC) funding 40.6

(f) (i) Discovery 40.6(a) Project 32,341 31,121 32,341 31,121 Fellowships ## 20,299 19,114 20,299 19,114 Indigenous Researchers Development 228 89 228 89 Total Discovery 52,868 50,324 52,868 50,324

(f) (ii) Linkages 40.6(b) Infrastructure 575 1,730 575 1,730 International (10) (11) (10) (11) Projects 3,165 9,346 3,165 9,346 Industrial Transformational Research Program 357 - 357 - Total Linkages 4,087 11,065 4,087 11,065

(f) (iii) Networks and Centres 40.6(c) Research networks - 18 - 18 Centres 978 8,796 978 8,796 Total networks and centres 978 8,814 978 8,814

Special research initiatives 10,108 14,423 10,108 14,423

Total ARC funding 68,041 84,626 68,041 84,626

(g) Other Australian Government financial assistance Non-capital National Health & Medical Research Council 100,791 103,093 100,791 103,093 Other Commonwealth research funding 59,760 55,141 59,760 54,915 Other Commonwealth non-research funding 65,909 33,747 62,440 30,436 Total non-capital 226,460 191,981 222,991 188,444

## Includes Early Career Research Award. 27

Note 2 Australian Government Financial Assistance including HECS-HELP and FEE-HELP (continued)

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Capital Other Commonwealth non-research funding - 7,587 - 7,587 Total capital - 7,587 - 7,587

Total other Australian Government financial assistance 226,460 199,568 222,991 196,031

Total Australian Government Financial Assistance 1,010,000 989,120 1,006,531 985,583

Reconciliation Australian Government grants [a + c + d + e + f + g] 773,703 776,382 770,234 772,845 HECS-HELP payments 140,165 132,256 140,165 132,256 FEE-HELP payments 92,734 77,185 92,734 77,185 SA-HELP payments 3,398 3,297 3,398 3,297 Total Australian Government financial assistance 1,010,000 989,120 1,006,531 985,583

(h) Australian Government grants received – cash basis CGS and Other Education Grants 40.1 276,031 272,639 276,031 272,639 Higher Education Loan Programs 40.2 234,580 218,338 234,580 218,338 Scholarships 40.3 30,387 29,670 30,387 29,670 Education research 40.4 158,762 159,210 158,762 159,210 ARC grants – Special Research Initiatives 40.6(c) 12,601 12,231 12,601 12,231 Other Capital funding 40.5 - 14,000 - 14,000 ARC grants – Discovery 40.6(a) 56,778 52,722 56,778 52,722 ARC grants – Linkages 40.6(b) 14,905 16,489 14,905 16,489 ARC grants – Networks and centres 40.6(c) 7,006 9,647 7,006 9,647 Other Australian Government grants 191,921 199,371 191,921 199,078 Total Australian Government grants received – cash basis 982,971 984,317 982,971 984,024 OS-Help 40.7 3,073 559 3,073 559 Total Australian Government funding received – cash basis 986,044 984,876 986,044 984,583 28 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 3 State and Local Government Financial Assistance CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Non-capital Research funding 36,152 42,691 36,152 42,691 Other non-research funding 14,276 13,383 14,277 13,383 Total non-capital 50,428 56,074 50,429 56,074

Capital Capital funding 2,839 226 2,753 - Total capital 2,839 226 2,753 -

Total State and Local Government financial assistance 53,267 56,300 53,182 56,074

Note 4 Fees and Charges CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Course fees and charges Fee-paying onshore overseas students 440,621 374,303 436,041 371,022 Continuing education * 8,051 7,537 2,209 2,342 Fee-paying domestic postgraduate students * 47,668 42,731 39,045 30,168 Fee-paying domestic undergraduate students * 2,252 8,198 2,252 1,976 Other domestic course fees and charges 39,029 34,725 2,995 2,200 Sundry fees 10,284 8,861 8,777 7,611 Total course fees and charges 547,905 476,355 491,319 415,319

Other non-course fees and charges Student services and amenities fees from students 40.8 6,641 4,038 6,641 4,038 Examination fees 2,388 2,313 288 244 Hospital shared services fees 7,431 5,371 7,431 5,371 Parking fees 6,476 5,677 6,476 5,677 Rent / Use of facilities charges 21,132 20,501 15,556 15,571 Seminar, conference and course fees 4,585 5,267 4,058 4,745 Sporting activities 3,235 2,327 3,235 2,327 Student accommodation charges 8,341 7,746 8,341 7,746 Testing services 8,028 7,550 8,028 7,550 Veterinary Hospital services 10,502 10,055 10,502 10,055 Other fees and charges for services provided 17,640 15,847 12,292 11,838 Total other non-course fees and charges 96,399 86,692 82,848 75,162

Total fees and charges 644,304 563,047 574,167 490,481

* Continuing education and domestic course fees and charges are net of FEE-HELP payments which are disclosed in Note 2(b). 29

Note 5 Investment Income CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Investment revenue Interest 8,219 8,080 7,035 6,672 Dividends 78,382 64,491 74,254 58,459 Other investment revenue 2,048 2,281 2,026 2,224 Total investment revenue 88,649 74,852 83,315 67,355

Other investment income Realised gains / (losses) on disposal of investments 9,336 14,047 6,434 14,813 Transfer of gains / (losses) from equity on 28 158,255 36,762 158,255 36,728 disposal of available-for-sale financial assets Other Investment Income 196 - - - Total other investment income 167,787 50,809 164,689 51,541

Total investment income 256,436 125,661 248,004 118,896

The University restructured its investment portfolio during the year, which resulted in a non-recurring increase in gains transferred from equity through the capture of gains built up over a number of years. This gain is recognised in line with accounting standards; however it did not have any impact on the value of the portfolio or cash flow at the time of execution.

Note 6 Consultancy and Contracts CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Consultancy 23,495 18,178 20,491 16,268 Contract research 59,610 57,909 57,741 57,909 Total consultancy and contracts 83,105 76,087 78,232 74,177

Note 7 Other Income CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Other revenue Donations and bequests 47,496 30,562 46,368 29,326 Non-government grants 51,982 51,238 51,862 50,765 Box office receipts 13,483 15,056 13,331 14,831 Computer sales 7,849 7,796 4,296 3,980 Other research/project income - 5,718 - - Publishing and book sales 3,687 2,893 13 9 Other revenue 9,386 6,068 22,216 17,610 Total other revenue 133,883 119,331 138,086 116,521

Other income Net foreign exchange gains 3 3 - - Total other income 3 3 - - 30 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 8 Employee Related Expenses CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Academic Salaries 429,679 408,644 420,583 400,961 Contributions to superannuation and pension schemes 63,966 61,387 63,121 60,601 Payroll tax 23,038 21,507 22,431 21,010 Workers' compensation 2,326 2,219 2,319 2,213 Long service leave expense 14,076 8,728 13,931 8,548 Annual leave 34,736 30,853 34,243 30,277 Other 380 356 316 299 Total academic 568,201 533,694 556,944 523,909

Non-academic Salaries 361,451 349,438 329,679 317,826 Contributions to superannuation and pension schemes 49,192 47,248 45,878 44,017 Payroll tax 19,382 18,418 17,633 16,813 Workers' compensation 2,116 1,866 1,934 1,759 Long service leave expense 12,627 8,400 11,869 7,980 Annual leave 30,242 27,591 28,667 25,971 Other * 54,729 14,851 48,963 8,450 Total non-academic 529,739 467,812 484,623 422,816

Total employee related expenses 1,097,940 1,001,506 1,041,567 946,725

* The increase in other employee related expenses in 2014 relates to restructure costs. Restructure costs provided for at year end are disclosed in Note 25.

Note 9 Depreciation and Amortisation CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Depreciation Buildings 80,110 64,620 78,182 62,576 Library collection 5,947 5,255 5,928 5,228 Plant and equipment 25,934 27,407 24,850 26,401 Leasehold improvements 1,444 1,261 1,164 982 Assets under finance lease 6,180 6,301 5,330 5,338 Total depreciation 119,615 104,844 115,454 100,525

Amortisation Software 4,128 1,993 3,274 1,252 Electronic library materials 13,991 10,942 13,991 10,942 Total amortisation 18,119 12,935 17,265 12,194

Total depreciation and amortisation 137,734 117,779 132,719 112,719 31

Note 10 Repairs and Maintenance CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Buildings 15,711 23,691 15,475 23,295 Plant and equipment 27,145 26,111 25,851 24,791 Total repairs and maintenance 42,856 49,802 41,326 48,086

Note 11 Finance Costs CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Interest expense 12,846 13,717 12,757 13,613 Termination of interest rate swap 27 25,305 - 25,305 - Finance charges in respect of finance leases 289 490 191 383 Total finance costs 38,440 14,207 38,253 13,996

Note 12 Impairment of Assets CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Bad and doubtful debts (116) 663 (492) 651 Impairment of other investments (242) 182 116 4,888 Other impairment losses 3,178 411 (61) 411 Impairment of assets excl. 2,820 1,256 (437) 5,950 available-for-sale financial assets

Impairment of available-for-sale financial assets * 23,603 2,223 23,601 2,216 Total impairment of assets 26,423 3,479 23,164 8,166

* The Group recognised an impairment loss of $23.603 million on its Available-for-Sale Financial Assets during 2014 (2013, $2.223 million). This has been separately disclosed in the Income Statement. Refer to Note 1.9 for the University’s accounting policy for the impairment of financial assets.

Note 13 Loss / (Gain) on Disposal of Assets CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Carrying amount of disposed assets 14,067 4,218 10,816 3,012 Proceeds from sale of assets (10,296) (357) (10,295) (345) Net loss / (gain) on disposal of assets 3,771 3,861 521 2,667 32 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 14 Other Expenses CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Grants 82,296 89,175 105,664 108,317 Scholarships and prizes 79,682 80,591 77,355 76,386 Non-capitalised equipment 15,723 12,773 15,650 12,713 Advertising, marketing and promotional expenses 13,001 13,252 7,615 7,060 Computer software and services 35,713 32,001 33,560 29,816 Consumable materials 44,752 44,970 43,997 43,925 Contracted and professional services 176,023 158,133 174,505 152,630 Course fees paid 49,157 39,668 49,155 39,668 Insurance 7,060 7,834 6,751 7,502 Library materials 3,189 2,887 3,111 2,787 Printing, publications and stationary 10,162 11,269 8,202 9,484 Program and course development, preparation 28,142 24,282 - - and delivery services Rent and leasing payments 20,821 22,256 18,655 20,041 Travel, staff development and training 48,662 48,388 44,784 44,207 Utilities and services 54,283 52,993 52,108 50,689 Other expenses 21,772 15,444 29,628 22,392 Total other expenses 690,438 655,916 670,740 627,617

Note 15 Cash and Cash Equivalents CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Cash at bank 173,607 175,943 153,628 151,360 Petty cash floats 181 155 145 120 Deposits at call / term deposits 34,246 31,413 9,768 8,500 Cash and cash equivalents in 208,034 207,511 163,541 159,980 the statement of financial position Bank overdraft (8,196) - (8,196) - Total cash and cash equivalents 199,838 207,511 155,345 159,980 in the statement of cashflows

(a) Cash at Bank and Petty Cash Floats Cash at bank generally earns interest in line with the Reserve Bank of Australia cash rate. During the year, interest was earned at rates between 2.5% and 2.6% (2013, 2.5% and 3.3%). Petty Cash Floats are non-interest bearing.

(b) Deposits at Call / Term Deposits Deposits at Call and Term Deposits are bearing floating interest rates between 2.4% and 3.6% (2013, 2.3% and 4.0%). These deposits have an average maturity of 90 days. 33

Note 16 Receivables CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Current receivables Trade receivables 70,888 64,361 55,406 52,661 Sundry debtors 47,673 35,109 47,724 34,646 Less allowance for impaired receivables (1,125) (1,332) (1,137) (5,639) 117,436 98,138 101,993 81,668 Student loans 3,006 2,868 3,006 2,868 Less allowance for impaired receivables (9) (13) (9) (13) 2,997 2,855 2,997 2,855 Deferred government contribution for superannuation 8,870 8,715 8,870 8,715 Other 59 49 15 15 Total current receivables 129,362 109,757 113,875 93,253

Non-current receivables Deferred government contribution for superannuation 104,268 106,673 104,268 106,673 Other 1,467 1,430 4,659 4,312 Less allowance for impaired receivables - - (4,456) - Total non-current receivables 105,735 108,103 104,471 110,985

Total receivables 235,097 217,860 218,346 204,238

(a) Deferred Government Contributions to Superannuation The University recognises a receivable for the amount receivable from the Australian Government in respect of unfunded superannuation schemes operated by the State Government. The total consolidated amount owing in respect of these schemes at 30 June 2014 is recorded at $113.138 million (2013, $115.388 million). Refer Notes 1.18(iv), 25 and 39.

(b) Allowance for impaired receivables The movement in the allowance for impaired receivables during the year was as follows:

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Movement in allowance for impaired receivables Balance at 1 January 1,345 1,305 5,652 756 Impairment loss / (reversal gain) recognised (20) 262 (37) 4,963 Receivables written off during the year as uncollectible (187) (222) (13) (67) Unused amount reversed (4) - - - Balance at 31 December 1,134 1,345 5,602 5,652

(c) Interest Rates and Credit Risk The Group’s receivables are non-interest bearing. Information concerning the credit risk of the Group’s receivables is set out in Note 37.

(d) Ageing of Receivables Included in the Group’s Receivables balance are $1.134 million of debtors which are considered to be impaired and for which a provision has been provided (2013, $1.345 million). Of the Group’s impaired receivables in 2014, 7% were between one and three months past due (2013, 10%), 6% were between three and six months past due (2013, 2%) and 87% were more than six months overdue (2013, 88%).

Also included in the Group’s Receivables balance are debtors that are past due at the reporting date which are not considered to be impaired. 7% percent of total receivables were past due but not impaired in 2014 (2013, 9%). The Group has not provided for these receivables as it is considered that these amounts are still recoverable. 34 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 17 Inventories CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Finished goods 1,143 1,048 610 736 Raw materials 316 439 316 439 Work in progress 183 233 - - Livestock and other 807 499 807 499 Total inventories 2,449 2,219 1,733 1,674

Note 18 Other Financial Assets CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Current Financial assets at fair value through profit or loss 18(a) 115 846 - - Total current other financial assets 115 846 - -

Non-current Available-for-sale financial assets 18(b) 1,463,291 1,283,533 1,391,709 1,212,912 Investments in subsidiaries and other companies 18(c) 10,123 8,841 26,181 24,899 Total non-current other financial assets 1,473,414 1,292,374 1,417,890 1,237,811

Total other financial assets 1,473,529 1,293,220 1,417,890 1,237,811

18(a) Financial assets at fair value through profit or loss Bank and term deposits (> 90 days) 115 846 - - Total financial assets at fair value through profit or loss 115 846 - -

18(b) Available-for-sale financial assets Shares, equities and convertible notes 1,325,768 1,146,226 1,270,196 1,090,617 Listed income securities / unit trusts 131,328 134,326 123,482 124,309 Units in pool * - - (2,549) (2,053) Other 6,195 2,981 580 39 Total available-for-sale financial assets 1,463,291 1,283,533 1,391,709 1,212,912

18(c) Investments in subsidiaries and other companies Investments in subsidiaries - - 25,148 25,148 Investments in other companies 44,117 43,277 44,117 43,277 Provision for accumulated impairment (33,994) (34,436) (43,084) (43,526) Total other investments 10,123 8,841 26,181 24,899

* Represents the ownership of Units in the University’s Investment Pool held by Subsidiaries. 35

Note 19 Other Non-Financial Assets CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Current Prepayments 16,167 29,923 15,067 28,816 Accrued income / other 2,807 6,175 1,929 5,300 Total current other non-financial assets 18,974 36,098 16,996 34,116

Non-current Prepayments 35,998 20,678 35,998 20,678 Total non current other non-financial assets 35,998 20,678 35,998 20,678

Total other non-financial assets 54,972 56,776 52,994 54,794

Note 20 Investments Accounted for Using the Equity Method

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Investments in associates 7 10 - - Total investments accounted 7 10 - - for using the equity method

Reconciliation Balance at 1 January 10 20 - - Share of profit / (loss) for the year (3) (10) - - Balance at 31 December 7 10 - -

The Group has a 33% interest in Uniseed Management Pty Ltd, the only associate of the Group. The associate is immaterial to the Group. 36 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 21 Property, Plant and Equipment

LAND BUILDINGS LIBRARY COLLECTION CONSOLIDATED $’000 $’000 $’000

At 1 January 2013 »» At cost - - 115,491 »» At valuation 991,355 2,010,386 - Accumulated depreciation - (1,672) (42,111) Net book amount 991,355 2,008,714 73,380

Year ended 31 December 2013 Opening net book amount 991,355 2,008,714 73,380 Reclassification - - - Additions - 4,585 3,556 Disposals - - (515) Revaluation increment / (decrement) - - - Depreciation - (64,620) (5,255) Impairment gains / (losses) - - - Transfer from construction in progress - 278,528 - Write-ups / transfers / (write-offs) - 5,122 - Closing net book amount 991,355 2,232,329 71,166

At 31 December 2013 »» At cost - - 118,152 »» At valuation 991,355 2,297,516 - Accumulated depreciation - (65,187) (46,986) Net book amount 991,355 2,232,329 71,166

Year ended 31 December 2014 Opening net book amount 991,355 2,232,329 71,166 Additions 2,932 367 6,615 Disposals (9,890) (136) (421) Revaluation increment / (decrement) 108,020 - - Depreciation - (80,110) (5,947) Impairment gains / (losses) - (25,035) - Transfer from construction in progress - 185,319 - Write-ups / transfers / (write-offs) - - - Closing net book amount 1,092,417 2,312,734 71,413

At 31 December 2014 »» At cost - - 124,008 »» At valuation 1,092,417 2,455,646 - Accumulated depreciation - (142,912) (52,595) Net book amount 1,092,417 2,312,734 71,413

The valuation techniques and significant unobservable inputs used in measuring the fair value of Property, Plant and Equipment are disclosed in Note 38. 37

WORKS OF ART & PLANT AND LEASEHOLD LEASED PLANT CONSTRUCTION TOTAL OTHER COLLECTIONS EQUIPMENT IMPROVEMENTS AND EQUIPMENT IN PROGRESS $’000 $’000 $’000 $’000 $’000 $’000

- 293,549 26,246 26,372 210,935 672,593 145,149 - - - - 3,146,890 (26) (234,397) (6,696) (7,119) - (292,021) 145,123 59,152 19,550 19,253 210,935 3,527,462

145,123 59,152 19,550 19,253 210,935 3,527,462 - (67) - - - (67) 154 7,575 320 677 166,681 183,548 - (359) (2,215) (1,129) - (4,218) 25,350 - - - - 25,350 - (27,407) (1,261) (6,301) - (104,844) - (411) - - - (411) - 3,190 3,424 - (285,142) - - 41 - 998 (205) 5,956 170,627 41,714 19,818 13,498 92,269 3,632,776

- 285,634 26,306 25,919 92,269 548,280 170,653 - - - - 3,459,524 (26) (243,920) (6,488) (12,421) - (375,028) 170,627 41,714 19,818 13,498 92,269 3,632,776

170,627 41,714 19,818 13,498 92,269 3,632,776 2,299 36,921 19 1,189 124,096 174,438 - (875) 12 (2,757) - (14,067) 45,310 - - - - 153,330 - (25,934) (1,444) (6,180) - (119,615) - - - - - (25,035) - 3,522 57 - (188,898) - - 317 - 2,757 (650) 2,424 218,236 55,665 18,462 8,507 26,817 3,804,251

- 318,184 26,386 24,351 26,817 519,746 218,262 - - - - 3,766,325 (26) (262,519) (7,924) (15,844) - (481,820) 218,236 55,665 18,462 8,507 26,817 3,804,251 38 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 21 Property, Plant and Equipment (continued)

LAND BUILDINGS LIBRARY COLLECTION UNIVERSITY $’000 $’000 $’000

At 1 January 2013 »» At cost - - 115,024 »» At valuation 921,249 1,954,124 - Accumulated depreciation - (346) (41,685) Net book amount 921,249 1,953,778 73,339

Year ended 31 December 2013 Opening net book amount 921,249 1,953,778 73,339 Reclassification - - - Additions - 4,467 3,542 Disposals - - (516) Revaluation increment / (decrement) - - - Depreciation - (62,576) (5,228) Impairment gains / (losses) - - - Transfer from construction in progress - 273,613 - Write-ups / transfers / (write-offs) - 5,122 - Closing net book amount 921,249 2,174,404 71,137

At 31 December 2013 »» At cost - - 117,671 »» At valuation 921,249 2,236,222 - Accumulated depreciation - (61,818) (46,534) Net book amount 921,249 2,174,404 71,137

Year ended 31 December 2014 Opening net book amount 921,249 2,174,404 71,137 Additions 2,933 367 6,583 Disposals (9,890) (136) (421) Revaluation increment / (decrement) 103,950 - - Depreciation - (78,182) (5,928) Impairment gains / (losses) - (21,796) - Transfer from construction in progress - 185,311 - Write-ups / transfers / (write-offs) - - - Closing net book amount 1,018,242 2,259,968 71,371

At 31 December 2014 »» At cost - - 123,494 »» At valuation 1,018,242 2,399,093 - Accumulated depreciation - (139,125) (52,123) Net book amount 1,018,242 2,259,968 71,371

The valuation techniques and significant unobservable inputs used in measuring the fair value of Property, Plant and Equipment are disclosed in Note 38. 39

WORKS OF ART & PLANT AND LEASEHOLD LEASED PLANT CONSTRUCTION TOTAL OTHER COLLECTIONS EQUIPMENT IMPROVEMENTS AND EQUIPMENT IN PROGRESS $’000 $’000 $’000 $’000 $’000 $’000

- 277,077 21,726 21,349 209,961 645,137 144,813 - - - - 3,020,186 - (222,189) (4,645) (3,997) - (272,862) 144,813 54,888 17,081 17,352 209,961 3,392,461

144,813 54,888 17,081 17,352 209,961 3,392,461 - (67) - - - (67) 154 6,701 - - 160,918 175,782 - (302) (2,194) - - (3,012) 25,350 - - - - 25,350 - (26,401) (982) (5,338) - (100,525) - (411) - - - (411) - 2,124 3,424 - (279,161) - - - - - (205) 4,917 170,317 36,532 17,329 12,014 91,513 3,494,495

- 267,327 21,501 21,349 91,513 519,361 170,317 - - - - 3,327,788 - (230,795) (4,172) (9,335) - (352,654) 170,317 36,532 17,329 12,014 91,513 3,494,495

170,317 36,532 17,329 12,014 91,513 3,494,495 2,298 36,508 - - 122,755 171,444 - (369) - - - (10,816) 45,310 - - - - 149,260 - (24,850) (1,164) (5,330) - (115,454) - - - - - (21,796) - 2,316 57 - (187,684) - - - - - (650) (650) 217,925 50,137 16,222 6,684 25,934 3,666,483

- 299,050 21,563 21,349 25,934 491,390 217,925 - - - - 3,635,260 - (248,913) (5,341) (14,665) - (460,167) 217,925 50,137 16,222 6,684 25,934 3,666,483 40 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 22 Intangible assets CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Electronic library materials 32,553 35,340 32,553 35,340 Software 16,032 15,219 15,215 14,178 Total intangible assets 48,585 50,559 47,768 49,518

Movements in each class of intangible assets are set out below: CONSOLIDATED UNIVERSITY

Electronic Electronic Library Materials Software Library Materials Software $’000 $’000 $’000 $’000 At 1 January 2013 Cost 42,743 18,285 42,743 13,792 Accumulated amortisation and impairment (8,748) (10,137) (8,748) (7,049) Net book amount 33,995 8,148 33,995 6,743

Year ended 31 December 2013 Opening net book amount 33,995 8,148 33,995 6,743 Additions 12,287 8,997 12,287 8,620 Reclassification - 67 - 67 Amortisation expense (10,942) (1,993) (10,942) (1,252) Closing net book amount 35,340 15,219 35,340 14,178

At 31 December 2013 Cost 55,029 27,692 55,029 23,058 Accumulated amortisation and impairment (19,689) (12,473) (19,689) (8,880) Net book amount 35,340 15,219 35,340 14,178

Year ended 31 December 2014 Opening net book amount 35,340 15,219 35,340 14,178 Additions 11,204 4,941 11,204 4,311 Amortisation expense (13,991) (4,128) (13,991) (3,274) Closing net book amount 32,553 16,032 32,553 15,215

At 31 December 2014 Cost 66,233 32,410 66,233 27,160 Accumulated amortisation and impairment (33,680) (16,378) (33,680) (11,945) Net book amount 32,553 16,032 32,553 15,215 41

Note 23 Trade and other payables CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Current payables Trade creditors 51,087 83,259 42,496 74,015 Sundry creditors 39,625 38,222 18,631 18,350 Accrued expenses 35,093 53,822 34,546 52,883 Total current payables 125,805 175,303 95,673 145,248

Note 24 Borrowings CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Current borrowings Unsecured bank borrowings 3,575 7,561 3,575 7,561 Finance lease liabilities 600 2,798 - 2,123 Bank overdraft 8,196 - 8,196 - Total current borrowings 12,371 10,359 11,771 9,684

Non-current borrowings Unsecured bank borrowings 39,538 156,469 39,538 156,469 Unsecured bond issue 246,715 - 246,715 - Finance lease liabilities 1,305 870 - - Other borrowings - - 309 201 Total non-current borrowings 287,558 157,339 286,562 156,670

Total borrowings 299,929 167,698 298,333 166,354

Assets pledged as security The carrying amounts of assets pledged as security for current and non-current borrowings are: Non-current Land and buildings - 221,208 - 221,208 Other financial assets - 98,503 - 98,503 Total assets pledged as security - 319,711 - 319,711 42 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 24 Borrowings (continued)

(a) Unsecured Bank Borrowings (c) Assets Pledged as Security (d) Loan Covenant In June 2014 the University restructured its borrowings Following the restructure of the borrowings in June The revised borrowings structure has financial reporting terminating the loan facility on the University Square 2014 the Group has no assets pledged as security. covenants only. buildings and entering into a bond issuance, refer The mortgages and the requirement to maintain Note 24(b) for further details. The loan facility for the a security deposit were released during 2014. (e) Financing Arrangements construction of a Business and Economics building The University has no other financing arrangements in remains however, the security has been released. In the prior year the University’s Bank Borrowings were place at 31 December 2014 (2013, nil). The total loan facility was for $60.000 million secured by registered first mortgage over certain with repayments to conclude in 2023. freehold property and a registered equitable mortgage (f) Finance Lease Liabilities of securities held by the University. At 31 December Finance lease liabilities are payable as follows: (b) Bond Issuance 2013 the fair value of the secured properties was

In June 2014 the University issued domestic $221.208 million. Also, the University was required to Australian dollar Medium Term Notes (MTN) to maintain a security deposit for its Borrowings of at least the value of $250 million. The bond coupon rate $75.000 million under the terms of the loan agreement. is 4.25% fixed for 7 years. At 31 December 2013, the carrying value of securities amounted to $98.503 million.

CONSOLIDATED UNIVERSITY

Minimum Minimum lease Interest Principal lease Interest Principal payments $’000 $’000 payments $’000 $’000 $’000 $’000

2014 Less than one year 689 89 600 - - - Between one and five years 1,397 92 1,305 - - - 2,086 181 1,905 - - -

CONSOLIDATED UNIVERSITY

Minimum Minimum lease Interest Principal lease Interest Principal payments $’000 $’000 payments $’000 $’000 $’000 $’000

2013 Less than one year 3,057 259 2,798 2,315 192 2,123 Between one and five years 945 75 870 - - - 4,002 334 3,668 2,315 192 2,123 43

Note 25 Provisions CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Current provisions Current provisions expected to be wholly settled within 12 months Employee benefits: »» Annual leave 51,369 49,003 48,038 45,601 »» Long service leave 20,538 18,228 16,739 14,962 »» Deferred government superannuation obligation 8,870 8,715 8,870 8,715 WorkCover claims 1,286 1,582 1,286 1,582 Restructure 35,754 5,693 34,509 5,642 117,817 83,221 109,441 76,502 Current provision expected to be wholly settled after more than 12 months Employee benefits: »» Annual leave 16,483 14,418 16,483 14,418 »» Long service leave 89,636 84,100 89,636 84,100 106,119 98,518 106,119 98,518

Total current provisions 223,936 181,739 215,560 175,020

Non-current provisions Employee benefits: »» Long service leave 25,195 22,747 24,318 21,787 »» Deferred government superannuation obligation 104,268 106,673 104,268 106,673 WorkCover claims 5,504 5,345 5,504 5,345 Total non-current provisions 134,967 134,765 134,090 133,805

Total provisions 358,903 316,504 349,650 308,825

25(a) Employee benefits Provision for employee benefits – current 186,896 174,464 179,766 167,796 Provision for employee benefits – non-current 129,463 129,420 128,586 128,460 Aggregate employee benefits 316,359 303,884 308,352 296,256

25(b) Employee numbers Full-time equivalent staff numbers 7,163 7,334 6,714 6,894

25(c) State Superannuation Fund AASB 119 Employee Benefitsrequires that the estimated present value of superannuation obligations recognised in the financial statements be determined as at balance date. These financial statements recognise estimated superannuation obligations in respect of the State Superannuation Fund using an actuarial estimate as at 30 June 2014. As there is no net impact on the Statement of Financial Position or Income Statement from these superannuation obligations, the costs of providing an actuarial assessment at balance date outweigh the benefits. The University has therefore elected not to obtain an estimate of its superannuation obligations as at balance date. Consequently superannuation obligations are stated in the financial statements based on estimates prepared six months in arrears. 44 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 25 Provisions (continued)

25(d) Movements in provisions (other than employee benefits) WORKCOVER Movements in each class of provision during the financial year, other RESTRUCTURE TOTAL CLAIMS than employee benefits, are set out below: $’000 $’000 $’000

Consolidated – 2014 Carrying amount at start of year 6,927 5,693 12,620 Additional provisions recognised - 35,365 35,365 Amounts used (137) (5,304) (5,441) Carrying amount at end of year 6,790 35,754 42,544

Note 26 Other Liabilities CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Income in advance – current Australian Government unspent financial assistance: »» eResearch Collaboration Infrastructure Project 6,475 20,148 6,475 20,148 »» Commonwealth research project income (unspent) 136,720 131,048 135,954 130,434 »» Other Australian Government financial assistance 2,601 8,117 2,601 8,117 Other unspent research project income 57,943 49,379 57,943 49,379 Victorian Life Sciences Computer Initiative funding 8,961 14,706 8,961 14,706 Student fees 56,237 50,985 48,093 41,682 Other 28,449 26,898 25,915 24,867 297,386 301,281 285,942 289,333 Deposits and funds lodged 366 193 366 193 Total other current liabilities 297,752 301,474 286,308 289,526

Income in advance – non-current Rental contributions in advance 93,463 79,485 93,463 79,485 Total other non current liabilities 93,463 79,485 93,463 79,485

The Group has an excess of current liabilities over current assets at the end of the reporting period mainly due to the classification of income in advance as a current liability while the related cash received is held in the University’s long-term investment fund, which is classified as a non-current asset. Excluding this the University’s current ratio is .92. Management does not consider this to be a concern due to the Group’s current and projected surpluses, strong cash flows from operations and liquidity of the long-term investment fund.

Note 27 Other Financial Liabilities CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Non-current Interest rate swap - 23,171 - 23,171 Total other financial liabilities - 23,171 - 23,171

Interest rate swap In 1999, the University entered into an interest rate swap to remove exposure to the variable interest rate on the loan facility for the construction of the University Square buildings. The interest rate swap was to extend over the entire loan period and was designated as an effective hedging instrument. On 30 June 2014 the swap was terminated following the termination of the loan facility. The swap liability was settled on this date and the hedging instrument terminated. Refer to Note 24(a) for further details of the relevant loan facility. 45

Note 28 Reserves and Retained Surplus

Note 28(A) Reserves CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Reserves at 31 December comprise Trust Fund Reserve 456,105 408,919 456,105 408,919

General Reserve 31 39,344 - 39,312

Land and Buildings Asset Revaluation Reserve 2,328,112 2,241,818 2,243,085 2,160,856

Other Collections Asset Revaluation Reserve 136,158 90,848 136,158 90,848

Works of Art Asset Revaluation Reserve 76,619 76,619 76,500 76,500

Available-for-Sale Revaluation Reserve 133,060 210,683 117,541 195,759

Hedging Reserve - (23,171) - (23,171)

Special Purpose Reserve 22,422 20,460 21,791 19,547

Members Capital Reserve 30,405 30,405 - -

Contributed Equity 12,339 12,339 - -

Total Reserves 3,195,251 3,108,264 3,051,180 2,968,570

MOVEMENTS IN RESERVES

Trust Fund Reserve Balance Beginning of Year 408,919 379,095 408,919 379,095

Transfer from Retained Surplus 47,186 29,824 47,186 29,824

Balance End of Year 456,105 408,919 456,105 408,919

General Reserve Balance Beginning of Year 39,344 39,344 39,312 39,312

Transfer from / (to) Retained Surplus (39,313) - (39,312) -

Balance End of Year 31 39,344 - 39,312

Land and Buildings Asset Revaluation Reserve Balance Beginning of Year 2,241,818 2,241,862 2,160,856 2,160,900

Changes due to Revaluation 108,090 (4) 104,025 (4)

Transfer from / (to) Retained Surplus - (40) - (40)

Impairment Losses on Revalued Assets (21,796) (21,796)

Balance End of Year 2,328,112 2,241,818 2,243,085 2,160,856

Other Collections Asset Revaluation Reserve Balance Beginning of Year 90,848 87,016 90,848 87,016

Changes due to Revaluation 45,310 3,832 45,310 3,832 Balance End of Year 136,158 90,848 136,158 90,848

Works of Art Asset Revaluation Reserve Balance Beginning of Year 76,619 55,101 76,500 54,982

Changes due to Revaluation - 21,518 - 21,518

Balance End of Year 76,619 76,619 76,500 76,500

Available-for-Sale Revaluation Reserve Balance Beginning of Year 210,683 87,800 195,759 80,624

Transfer from / (to) Retained Surplus (206) - - -

Transfers to Profit or Loss on Sale (158,255) (36,762) (158,255) (36,728)

Changes due to Revaluation of Investments 80,838 159,645 80,037 151,863

Balance End of Year 133,060 210,683 117,541 195,759 46 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 28 Reserves and Retained Surplus (continued)

Note 28(A) Reserves (continued) CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000 Hedging Reserve Balance Beginning of Year (23,171) (32,868) (23,171) (32,868)

Valuation gains / (losses) - 9,697 - 9,697

Transfer to Profit or Loss on termination 23,171 - 23,171 -

Balance End of Year - (23,171) - (23,171)

Special Purpose Reserve

Balance Beginning of Year 20,462 18,047 19,547 17,456

Transfer from / (to) Retained Surplus 1,967 2,413 2,251 2,091

Transfers to Profit or Loss (7) - (7) -

Balance End of Year 22,422 20,460 21,791 19,547

Note 28(B) Retained Surplus CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Balance Beginning of Year 1,289,032 1,203,390 1,221,331 1,136,600

Net result for the year 176,423 117,839 182,942 116,606

Transfers from / (to) Reserves (9,634) (32,197) (10,125) (31,875)

Balance End of Year 1,455,821 1,289,032 1,394,148 1,221,331

NOTE 28(C) Nature and purpose of reserves

Trust Fund Reserve – this reserve reflects net Hedging Reserve – this reserve arises from hedging Members Capital Reserve – this reserve is surpluses derived from endowments and bequests gains and losses recognised on the effective portion maintained by Melbourne Business School Limited, which can only be applied to restricted purposes. of cash flow hedges. a deemed subsidiary, for the purpose of recording capital donations principally received from the General Reserve – this reserve is maintained Special Purpose Reserve – the major Special University and other parties who have subscribed, to cover a range of general purposes. Purpose Reserve is maintained by the University or are invited to subscribe to the Memorandum against possible future claims that may arise of Association of the Company. Asset Revaluation Reserves – these reserves arise under the University’s self insurance licence from the revaluation of the specific assets of Land, for WorkCover. This reserve is in addition Contributed Equity – represents the Net Fair Buildings, Other Collections and Works of Art. to the University’s statutory obligation. Value of Assets identified upon acquisition of Mt Eliza Graduate School of Business and Government Available-for-Sale Revaluation Reserve – Limited by Melbourne Business School Limited as this reserve arises from the revaluation of at 5 March 2004. Available-for-Sale Investments. 47

Note 29 Key Management Personnel Disclosures

(a) Names of Responsible Persons The names of each person holding the position of Member of Council or Council Fellows during the year were:

»» Ms E Alexander (Chancellor) »» Ms D Harman (until 31 December 2014) »» The Hon Justice J E Middleton »» Prof R J Batterham »» Prof S Harrap (until 31 December 2014) (re-appointed 1 January 2014) »» Dr C Bird (appointed 1 January 2014) »» Mr R N Johanson »» Mr M Myer (re-appointed 1 January 2014) »» Mr S Brown (until 31 December 2014) »» The Hon Dr David Kemp (appointed 7 October »» Mr A Peake »» Prof G C Davis (Vice-Chancellor) 2014) »» Ms E N S Ritchie (until 31 December 2014) »» Prof R Fincher (until 31 December 2014) »» Mr M Kettle (until 31 December 2014) »» Dr F Vervaet »» Mr R McPherson »» Mr J Wilson

(b) Remuneration of Responsible Persons Income paid or payable, or otherwise made available to, Members of University Council and to Board Members of Subsidiaries in the consolidated entity and related parties in connection with the management of affairs of the University and its Subsidiaries for the year is outlined below.

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Remuneration of Responsible Persons Short-Term Employee Benefits 2,567 2,649 1,499 1,296 Post-Employment Benefits 294 268 248 222 Other Long-Term Benefits 15 - 1 - Total Remuneration of Council / Board Members 2,876 2,917 1,748 1,518

The number of Council Members and Directors of Subsidiary companies and their total remuneration during the reporting period is shown in the table below in their relevant income bands:

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 Responsible Persons Nil 57 57 6 9 $1-$9,999 2 1 - - $10,000-$19,999 10 9 7 7 $20,000-$29,999 1 4 - - $30,000-$39,999 1 1 1 - $70,000-$79,999 - 1 - 1 $80,000-$89,999 1 - 1 - $120,000-$129,999 1 - 1 - $170,000-$179,999 1 - - - $180,000-$189,999 - 1 - - $190,000-$199,999 1 - - - $260,000-$269,999 - 1 - 1 $280,000-$289,999 1 - 1 - $310,000-$319,999 - 1 - - $690,000-$699,999 1 - - - $780,000-$789,999 - 1 - - $1,050,000-$1,059,999 - 1 - 1 $1,080,000-$1,089,999 1 - 1 - Total number 78 78 18 19 48 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 29 Key Management Personnel Disclosures (continued)

As a responsibility of office, one executive included above occupies a residence (c) Remuneration of Executive Officers owned by the University. The residence is required to be available and used regularly Following the restructure of operations in 2014 the positions which meet the for official University functions and promotional activities. The value of this benefit definition of Executive Officer have changed. In 2014 the University Executive including associated costs is $260,932 (2013, $253,177), which is included in Committee is considered to be the University’s Executive Officers. The 2014 the remuneration reported above. remuneration of Executive Officers disclosed below comprises the remuneration of the members of University Executive. Members of the University Council are remunerated for their service. Certain members elect to donate part or all of this remuneration to the University. Total amounts received by Executives of the Group, including Members of Council who are also Executives, are outlined below:

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Remuneration of Executive Officers Short-Term Employee Benefits 16,605 17,793 8,479 10,030 Post-Employment Benefits 1,822 2,235 1,599 2,006 Other Long-Term Benefits 329 239 273 189 Termination Benefits 237 154 100 32 Total Remuneration of Executive Officers 18,993 20,421 10,451 12,256 49

Note 29 Key Management Personnel Disclosures (continued)

The number of Executive Officers, including Members of Council who are also Executives, and their base CONSOLIDATED UNIVERSITY and total remuneration during the reporting period is shown in the table below in their relevant bands: Total Renumeration Base Renumeration Total Renumeration Base Renumeration 2014 2013 2014 2013 2014 2013 2014 2013 No. No. No. No. No. No. No. No.

Responsible Persons $100,000-$109,999 1 3 1 3 - 1 - 1 $110,000-$119,999 - 1 - 1 - - - - $120,000-$129,999 3 2 4 2 - - 1 - $130,000-$139,999 1 - 1 - - - - - $140,000-$149,999 3 4 4 5 - - - - $150,000-$159,999 1 3 2 5 - - - 1 $160,000-$169,999 1 3 4 3 - - 2 - $170,000-$179,999 2 2 1 2 - - - 1 $180,000-$189,999 7 4 6 3 1 - - - $190,000-$199,999 5 2 5 4 1 - 1 1 $200,000-$209,999 2 - 1 2 - - 1 - $210,000-$219,999 1 1 1 1 - - 1 1 $220,000-$229,999 1 - 1 4 - - - 4 $230,000-$239,999 3 2 3 2 - 1 - 2 $240,000-$249,999 - 3 2 1 - 2 1 - $250,000-$259,999 1 1 1 2 1 1 1 1 $260,000-$269,999 2 1 - - 1 1 - - $270,000-$279,999 - 2 - 2 - 1 - 2 $280,000-$289,999 1 1 2 3 1 1 1 2 $290,000-$299,999 2 3 3 3 1 3 2 2 $300,000-$309,999 - - 2 3 - - 1 3 $310,000-$319,999 2 3 1 3 1 1 1 2 $320,000-$329,999 1 2 3 2 - 1 2 1 $330,000-$339,999 4 4 - - 4 4 - - $340,000-$349,999 1 3 - - 1 2 - - $350,000-$359,999 - 1 1 2 - 1 1 2 $360,000-$369,999 - - - 1 - - - 1 $370,000-$379,999 1 1 3 1 1 1 3 1 $380,000-$389,999 1 3 - - 1 2 - - $390,000-$399,999 3 - - 1 2 - - 1 $400,000-$409,999 1 - 1 - 1 - 1 - $410,000-$419,999 - 2 2 - - 2 2 - $420,000-$429,999 - 1 - 1 - 1 - 1 $430,000-$439,999 1 1 - 1 1 1 - 1 $440,000-$449,999 1 - - - 1 - - - $450,000-$459,999 - - 1 - - - 1 - $460,000-$469,999 - 1 1 1 - 1 1 - $470,000-$479,999 2 1 - - 2 1 - - $480,000-$489,999 - 1 - - - 1 - - $490,000-$499,999 2 - 1 - 1 - - - $500,000-$509,999 2 2 2 2 2 1 1 1 $510,000-$519,999 - 1 1 - - - - - $520,000-$529,999 1 ------$580,000-$589,999 1 1 - - 1 1 - - $610,000-$619,999 - - - 1 - - - - $670,000-$679,999 1 ------$780,000-$789,999 - 1 ------$930,000-$939,999 - - - 1 - - - 1 $960,000-$969,999 - - 1 - - - 1 - $1,050,000-$1,059,999 - 1 - - - 1 - - $1,080,000-$1,089,999 1 - - - 1 - - - Total number of executives 63 68 62 68 26 33 26 33 50 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 29 Key Management Personnel Disclosures (continued)

(d) Minister (e) Related Party Transactions »» Mr Dean Waters, a member of the University The responsible Ministers for the reporting period A number of key management persons, hold positions Audit Committee, is a Partner at KPMG. were the Hon. Peter Hall, Minister for Higher Education in other entities that result in them having control over and Skills (until 17 March 2014), the Hon. Nick the financial or operating policies of those entities. A Other related party transactions requiring disclosure Wakeling, Minister for Higher Education and Skills number of these entities transacted with the University under the directions of the Minister for Finance have (17 March 2014 to 3 December 2014) and the in the reporting period on normal commercial terms been considered and there are no matters to report. Hon. Steve Herbert, Minister for Training and Skills. and conditions. Remuneration of the Ministers is disclosed in the (f) Loans to Key Management Personnel financial report of the Department of Premier and »» Mr A Peake is Managing Partner, Finance There were no loans made to any members Cabinet. Other relevant interests are declared in the and Operations at PwC Australia; of Council or Directors of subsidiary companies Register of Members’ Interests, which each Member »» Mr Kester Brown, a member of the University in 2014 (2013, nil). of Parliament completes. Audit Committee, is a Partner at EY; and

Note 30 Remuneration of Auditors

During the year, the following fees were paid for services provided by the University’s auditor, its related practices and non-related audit firms:

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Audit of the financial statements Fees paid or payable to the Victorian Auditor General's Office 297 353 250 306 Fees paid or payable to KPMG 98 93 - - Fees paid or payable to BDO 162 146 - - Fees paid or payable to other 31 33 - - Total remuneration for audit services 588 625 250 306

Other audit and assurance services Fees paid or payable to Deloitte - 120 - 120 Fees paid or payable to KPMG - 92 - 92 Fees paid or payable to other - 11 - - Total remuneration for other audit services - 223 - 212

Note 31 Contingent Assets And Liabilities

The Group has the following contingent liabilities as at 31 December 2014:

(a) The University has issued a Letter of indemnity to the National Australia Bank to cover the Bank’s guarantee to the Victorian WorkCover Authority under the University’s WorkCover Self Insurance Scheme. The amount of the guarantee in place is $10.232 million (2013, $10.182 million) and the actuarial assessment of claims liability as at 31 December 2014 is $6.790 million (2013, $6.927 million).

(b) There are a number of legal claims and exposures, which arise from the ordinary course of business, none of which are individually significant. Where the liability is not probable the Group has not provided for such amounts in these financial statements. There are no current, pending or potential legal claims against the Group which are foreseen as materially affecting the financial statements. 51

Note 32 Commitments

Note 32.1 Capital Commitments CONSOLIDATED UNIVERSITY Capital expenditure contracted for at the reporting date but not recognised as liabilities, payable: 2014 2013 2014 2013 $’000 $’000 $’000 $’000

Property, Plant and Equipment Within one year 166,316 140,407 165,648 140,400 Later than one year 76,700 26,300 76,700 26,300 Total Property, Plant and Equipment commitments 243,016 166,707 242,348 166,700

Note 32.2 Lease Commitments – as Lessee CONSOLIDATED UNIVERSITY Commitments for minimum lease payments in relation to non-cancellable operating leases at the reporting 2014 2013 2014 2013 date but not recognised as liabilities, payable: $’000 $’000 $’000 $’000

Within one year 7,238 6,421 6,721 5,998 Later than one year but not later than five years 12,045 17,391 10,588 16,171 Later than five years 9,665 10,926 9,665 10,838 28,948 34,738 26,974 33,007

Note 32.3 Lease Commitments – as Lessor CONSOLIDATED UNIVERSITY Future minimum rentals receivable under non- cancellable operating leases at the reporting 2014 2013 2014 2013 date but not recognised as assets, receivable: $’000 $’000 $’000 $’000

Within one year 8,458 7,699 5,348 4,708 Later than one year but not later than five years 14,594 16,821 7,549 9,592 Later than five years 540 537 362 472 Total Lease Commitments – as Lessor 23,592 25,057 13,259 14,772

The University has entered into operating leases with various businesses as lessor to lease retail space at Union House and other areas controlled by the University for the purpose of providing services to students. Included above is the rentals receivable from these properties.

Note 32.4 Other Expenditure Commitments CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Within one year 3,455 2,608 3,455 2,608 Later than one year but not later than five years 7,676 9,119 7,676 9,119 Later than five years 3,858 5,453 3,858 5,453 Total Other Expenditure Commitments 14,989 17,180 14,989 17,180 52 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 33 Related Party Transactions

(a) Parent entities (c) Members of Council and (d) Transactions with Related Parties The ultimate parent entity within the Specified Executive Officers The following transactions occurred Group is the University. Disclosures relating to Members of Council with related parties: and specified executives are set out in Note 29. (b) Subsidiaries The University’s interests in its subsidiaries are set out in Note 34.1.

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Transactions with Related Parties Funding Provided to Subsidiaries - - 11,841 8,939 Sale of Goods and Services to Subsidiaries - - 19,444 19,171 Purchase of Goods from Subsidiaries - - 27,515 24,937 Loan Advanced to Subsidiaries - - 356 3,800 Loan from Subsidiary - - 108 - Interest Revenue from Subsidiaries - - 5 9 Interest Expense to Subsidiaries - - 145 167

(e) Outstanding Balances The following balances are outstanding at the reporting date in relation to transactions with related parties:

CONSOLIDATED UNIVERSITY

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Outstanding Balances Current Receivables (sale of goods and services) Subsidiaries - - 934 1,942 Non-Current Receivables (loans) Subsidiaries - - 4,656 4,300 Current Payables (purchases of goods) Subsidiaries - - 1,173 694 Non-current payables (loans) Subsidiaries - - 309 201

An allowance of $5.064 million for impaired (f) Guarantees (g) Terms and Conditions receivables exists in 2014 (2013, $4.706 million) No guarantees have been given to third parties During the financial year, all transactions between for the outstanding balances disclosed above. in respect of related parties. The University has the University and its subsidiaries were in the given a guarantee to support the Melbourne Dental ordinary course of business and on normal Clinic until the signing of it’s 2015 financial statements. arm’s length commercial terms and conditions. 53

Note 34 Subsidiaries

34.1 Subsidiary Entities

The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1.2 (i).

OWNERSHIP PRINCIPAL PRINCIPLE PLACE NAME OF ENTITY INTEREST ACTIVITIES OF BUSINESS 2014 2013

Australian Music Examinations Provides a system of graded examinations Australia 100% 100% Board (Victoria) Limited in relation to music and speech in Victoria.

Australian National Academy Provide a national centre of excellence with practical Australia 75% 75% of Music Ltd Group music education and training.

Melbourne Business Provision of educational services. Australia 45% 45% School Limited Group

Operate and manage one or more dental clinics to Melbourne Dental Clinic Ltd provide students at the University Australia 100% 100% with world class clinincal training. To publish the best scholarly writing from Australia and Melbourne University Overseas, both within and independent of the tertiary Australia 100% 100% Publishing Limited sector. Provision of amenities, services and facilities MU Student Union Limited Australia 100% 100% for the benefit of students. Undertake and provide research, development, Nossal Institute Limited education, training, consultancy and other activities in Australia 100% 100% regard to medical and related areas. Undertake University profiling, student recruitment, UMELB Pte Ltd Singapore 100% 100% alumni support and donor relationship development. Commercialisation of research and teaching UOM Commercial Ltd Group Australia 100% 100% of the University of Melbourne.

The financial statements of subsidiaries are included 34.2 Non-controlling interests 34.3 Loss of control in the consolidated financial statements from the date on which control commences until the date on which control ceases. The consolidated financial There are no subsidiaries that have material There were no changes to the Group structure during statements incorporate the assets and liabilities non-controlling interests to the Group. the year. of all subsidiaries of the University as at 31 December 2014, and their results for the year then ended.

There are no restrictions on the group’s ability to access or use the assets and settle the liabilities of the group. 54 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 35 Subsequent Events

There are no matters or circumstances that have arisen since the end of the financial year that have affected or may subsequently affect the financial position of the University or its subsidiaries.

Note 36 Reconciliation of Net Result for the year to Net Cash Flows from Operating Activities CONSOLIDATED UNIVERSITY 2014 2013 2014 2013 $’000 $’000 $’000 $’000

Net result for the year 176,423 117,839 182,942 116,606

Add / (less) non-cash flows in net profit / (loss) Depreciation and amortisation 137,734 117,779 132,719 112,719 Bad and doubtful debts written off (262) (4,083) (443) (4,245) Impairment losses 26,539 2,816 23,656 7,515 Revaluation Gains on Other Financial Assets at Fair Value (196) - - - Loss / (gain) on sale / redemption of investments (9,336) (14,047) (6,434) (14,813) Transfer of (gain) / loss from equity on disposal (158,255) (36,762) (158,255) (36,728) of available-for-sale financial assets Net (gain) / loss on sale of non-current assets 3,771 3,861 521 2,667 Other (8,129) (3,789) (941) 2,831

Changes in assets and liabilities Decrease / (increase) in receivables (17,237) 67,754 (14,108) 65,876 Decrease / (increase) in inventories (230) 66 (59) 72 Decrease / (increase) in other non-financial assets 1,805 (5,197) 1,801 (5,245) Increase / (decrease) in trade and other payables (49,498) 33,539 (49,575) 31,362 Increase / (decrease) in provisions 42,400 (49,008) 40,825 (49,428) Increase / (decrease) in other liabilities 10,256 (13,627) 10,760 (10,650) Net cash inflow from operating activities 155,785 217,141 163,409 218,539

Note 37 Financial Risk Management

37.1 Financial Risk Management Objectives and Policies

The consolidated entity’s principal financial instruments Group’s exposure to each of these risks, and the »» the Investment Management Committee, which consist mainly of listed and unlisted shares, unit trusts, objectives, policies and processes for measuring monitors and advises the Finance Committee and borrowings. The main purpose of these financial and managing risk. on University’s short term cash management instruments is to raise finance to support the Group’s and long term investments, and The University’s Council has overall responsibility for activities. The Group has various other financial »» the Risk Committee, which is responsible instruments such as accounts receivable and accounts the establishment and oversight of the Group’s risk for monitoring risk management policies. payable, which arise directly from its operations. management framework. The Council has established:

The Group is exposed to key financial risks, including »» the Finance Committee, which meets regularly market risk (which includes interest rate risk, price to monitor and evaluate the University’s financial risk and foreign currency risk), credit risk and liquidity management strategies in the context of the risk. This note presents information about the most recent economic conditions and forecasts, 55

Note 37 Financial Risk Management (continued)

37.2 Risk Exposures

The main risks the Group is exposed to through (ii) Foreign Currency Risk (b) Credit Risk its financial instruments are as follows: The Group’s main exposure to foreign currency risk Credit risk is the risk of financial loss to the Group arises from International Shares held as part of its long if a customer or counterparty to a financial instrument (a) Market Risk term investment portfolio. The Group is mainly exposed fails to meet its contractual obligations. Credit Market risk is the risk that changes in market prices to US dollars and the Euro. At the reporting date, had risk arises principally from the Group’s receivables will affect the Group’s result or the value of the Group’s the Australian Dollar weakened / strengthened by 10% from customers. financial assets and liabilities. The key market risks that against the relevant foreign currencies with all other the Group is exposed to are interest rate risk, foreign variables held constant, the Group’s equity balance The Group does not have any material credit risk currency risk and price risk, each of which are would have been $24.474 million lower/higher (2013, exposure to any single receivable or group of discussed below. $22.490million lower / higher), due to changes in the receivables. The Group’s exposure to credit risk fair value of available-for-sale financial assets. There is influenced mainly by the individual characteristics (i) Interest Rate Risk would have been no change to the net result for the of each customer. Receivable balances are monitored The Group’s exposure to market interest rates relates year (2013, nil). on an ongoing basis to ensure that the exposure primarily to the Group’s long-term borrowings and to bad debts is not significant. The Group has funds invested on the money market. The interest At times, the University will hedge large equipment established an allowance for impaired receivables rate on the University’s long term borrowings are fixed purchases denominated in foreign currencies to that represents their estimate of incurred losses therefore, the Group is not exposed to any material manage foreign currency risk. The University did in respect of receivables. interest rate risk. Borrowings for the Business and not have any such hedges in place at 31 December Economics building are fixed at 7.03% and the bond 2014 (2013, nil). An analysis of the ageing of the Group’s receivables issue interest rate is fixed at 4.25% over 7 years. at reporting date has been provided in Note 16. (iii) Price Risk All borrowings are subject to approval by the University The University has a significant investment in (c) Liquidity Risk of Melbourne Council and the Treasurer of Victoria. marketable securities (included within available-for-sale Liquidity risk is the risk that the Group will not be financial assets), which exposes the Group to price able to meet its financial obligations as they fall due. The Group has minimal exposure to interest rate risk risk. To limit this risk, the University has invested its through its holding of cash assets and other financial funds with Fund Managers and maintained a diversified Liquidity risk is managed by University management assets at fair value. At the reporting date, it was investment portfolio. The majority of the equity and overseen by the Finance Committee through considered that a 1% decrease / increase in the investments are of a high quality and are publicly the monitoring of current forecasts and key ratios. interest rate is a reasonably possible movement in the traded on equity exchanges. The investments are The University’s cash position and cash flows are next twelve months. If interest rates were 1% lower / mainly included in the S&P/ASX 200 Index. also regularly monitored throughout the year. higher than the year-end rates with all other variables held constant, the Group’s net result for the year would The sensitivity analysis has been determined based on Maturity analysis – liquidity and interest rate risk tables have been $2.022 million lower / higher, reflecting the the Group’s exposure to equity prices. At the reporting The following tables disclose the Group’s financial lower/higher interest income earned on affected date, if the value of marketable securities were 10% liabilities into relevant maturity groupings based balances. (In 2013, $2.082 million lower / higher.) lower / higher with all other variables held constant, on the remaining period at the reporting date to the the Group’s equity would have been $146.293 million contractual maturity date. The amounts disclosed The Group manages its interest rate risk primarily lower/higher (2013, $128.155 million lower / higher), in the table are the contractual undiscounted cash through fixing its interest rate on long term borrowings due to changes in the fair value of available-for-sale flows, including interest that will be incurred on and by maintaining a diversified investment portfolio. financial assets. There would have been no change those liabilities that are interest-bearing. The to the net result for the year (2013, nil). adjustment column represents the possible future cash flows attributable to the instrument included in the maturity analysis which are not included in the carrying amount of the financial liability in the Statement of Financial Position.

INTEREST EARNING MATURING IN CONSOLIDATED WEIGHTED NON- CARRYING AMOUNT AVERAGE INTEREST 1 YEAR BETWEEN 1 MORE THAN PER STATEMENT OF EFFECTIVE 2014 BEARING OR LESS TO 5 YEARS 5 YEARS ADJUSTMENT FINANCIAL POSITION INTEREST RATE $’000 $’000 $’000 $’000 $’000 $’000 (%)

Financial Liabilities Payables 125,805 - - - - 125,805

Borrowings - 6,451 25,707 275,631 (9,765) 298,024 4.77

Finance Lease Liabilities - 689 1,397 - (181) 1,905 5.13

Total Financial Liabilities 125,805 7,140 27,104 275,631 (9,946) 425,734

2013

Financial Liabilities Payables 175,303 - - - - 175,303

Borrowings - - - 161,304 2,726 164,030 7.18

Finance Lease Liabilities - 3,057 945 - (334) 3,668 7.92

Other Financial Liabilities 23,171 - - - - 23,171

Total Financial Liabilities 198,474 3,057 945 161,304 2,392 366,172 56 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 38 Fair Value Measurements

(a) Fair value measurements The carrying amounts and aggregate net fair values of financial assets and liabilities at balance date are:

CARRYING AMOUNT FAIR VALUE

2014 2013 2014 2013 $’000 $’000 $’000 $’000

Financial Assets Cash and cash equivalents 208,034 207,511 208,034 207,511 Receivables 235,097 217,860 235,097 217,860 Other financial assets 1,473,529 1,293,220 1,473,529 1,293,220 Total financial assets 1,916,661 1,718,591 1,916,661 1,718,591

Financial liabilities Trade and other payables 125,805 175,303 125,805 175,303 Borrowings 298,024 164,030 307,788 180,821 Finance lease liabilities 1,905 3,668 2,086 3,668 Other financial liabilities - 23,171 - 23,171 Total financial liabilities 425,734 366,172 435,679 382,963

The basis for determining fair values is disclosed in Note 1.

(b) Fair value hierarchy

The Group categorises assets and liabilities measured at fair value into a hierarchy based on the level of inputs used in measurement.

»» Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities »» Level 2 – inputs other than quoted prices within level 1 that are observable for the asset or liability either directly or indirectly »» Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs) 57

Note 38 Fair Value Measurements (continued)

Fair value measurements at 31 December 2014

2014 Level 1 Level 2 Level 3 RECURRING FAIR VALUE MEASUREMENTS Note $’000 $’000 $’000 $’000

Financial assets Financial assets at fair value through profit or loss 18 115 115 - - Available-for-sale financial assets 18 1,463,291 1,153,067 310,224 - Other financial assets 18 10,123 - - 10,123 Total financial assets 1,473,529 1,153,181 310,224 10,123

Non-financial assets Property, plant and equipment 21 3,804,251 - 648,605 3,155,646 Total non-financial assets 3,804,251 - 648,605 3,155,646

Financial liabilities Borrowings 24 298,024 - 298,024 - Finance lease liabilities 24 1,905 - 1,905 - Total liabilities 299,929 - 299,929 -

Fair value measurements at 31 December 2013

2013 Level 1 Level 2 Level 3 RECURRING FAIR VALUE MEASUREMENTS Note $’000 $’000 $’000 $’000

Financial assets Financial assets at fair value through profit or loss 18 846 846 - - Available-for-sale financial assets 18 1,283,533 976,774 306,759 - Other financial assets 18 8,841 - - 8,841 Total financial assets 1,293,220 977,620 306,759 8,841

Non-financial assets Property, plant and equipment 21 3,632,776 - 720,520 2,912,256 Total non-financial assets 3,632,776 - 720,520 2,912,256

Financial liabilities Borrowings 24 164,030 164,030 - - Finance lease liabilities 24 3,668 3,668 - - Other financial liabilities 27 23,171 - 23,171 - Total liabilities 190,869 167,698 23,171 -

There were no transfers between levels during the period. Refer to note 1.10 for the fair value accounting policy. 58 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 38 Fair Value Measurements (continued)

(c) Valuation techniques used to The fair value of works of art and other collections estimates. If all significant inputs required to fair derive level 2 and level 3 fair values was determined by independent valuers, Simon value an instrument are observable, the instrument The fair value of land and buildings was determined Storey Valuers, having appropriate recognised is included in level 2. If one or more of the by independent property valuers, Colliers International qualifications and experience. Random statistical significant inputs is not based on observable Consultancy and Valuation Pty Limited, having sampling is used to value the larger collections. market data, the instrument is included in level 3. appropriate recognised qualifications and experience. The sample valuations are projected to estimates Property trusts, private equity funds, and hedge Given the nature and use of the education related of total value using the number-raised estimation funds are all considered to utilise ‘Level 2 Inputs’. buildings together with limited comparable sales methodology. Given the nature and use of the on a ‘going concern’ basis it is accepted valuation collections, with limited comparable sales due (d) Fair value measurements using methodology to carry out a depreciated replacement to the unique nature of the collections, the significant unobservable inputs (level 3) cost (DRC) analysis of the buildings to which the valuation is considered to utilise ‘Level 3 Inputs’. The following table is a reconciliation of level market value of the land is added, based on its existing 3 items for the periods ended 31 December use. Transport, Services, Zoning, Heritage Registration, The fair value of available for sale financial assets 2014 and 2013: Environmental Issues and Condition and Repair were that are not traded in an active market is determined considered in valuing the buildings. This approach using valuation techniques. These valuation techniques adopted for the building component is considered maximise the use of observable market data where it is to utilise ‘Level 3 Inputs’. available and rely as little as possible on entity specific

OTHER WORKS OF FINANCIAL BUILDINGS ART & OTHER LAND TOTAL LEVEL 3 FAIR VALUE ASSETS $’000 COLLECTIONS $’000 $’000 MEASUREMENTS 2014 $’000 $’000

Opening balance 8,841 2,196,785 170,627 544,844 2,921,097 Additions 840 367 2,299 - 3,506 Transfer from construction in progress - 185,319 - - 185,319 Disposals - (136) - - (136) Impairment 442 (25,035) - - (24,593) Depreciation - (72,310) - - (72,310) Revaluation - - 45,310 107,576 152,886 Closing balance 10,123 2,284,990 218,236 652,420 3,165,769

OTHER WORKS OF FINANCIAL BUILDINGS ART & OTHER LAND TOTAL LEVEL 3 FAIR VALUE ASSETS $’000 COLLECTIONS $’000 $’000 MEASUREMENTS 2013 $’000 $’000

Opening balance 5,947 - - - 5,947 Adoption of AASB13 2,192,200 145,123 544,844 2,882,167 In other comprehensive income - - 25,350 - 25,350 Purchases 2,894 4,585 154 - 7,633 Closing balance 8,841 2,196,785 170,627 544,844 2,921,097

The following table summarises the quantitive information about the significant unobservable inputs used in level 3 fair value measurements.

FAIR VALUE SIGNIFICANT RELATIONSHIP OF SIGNIFICANT DESCRIPTION 2014 $’000 UNOBSERVABLE INPUTS UNOBSERVABLE INPUTS TO FAIR VALUE

A 5% increase in average cost would increase the fair value Buildings 2,284,990 Average cost per asset of buildings by $114.250 million. An increase in the useful life of buildings by one year would Buildings 2,284,990 Useful Life decrease annual depreciation by $1.954 million thereby increasing the fair value. Works of art Average cost A 5% increase in average cost would increase the fair value 218,236 & other collections per item of works of art and other collections by $10.912 million. Community Service A 5% increase in CSO would decrease Land 652,420 Obligation (CSO) the fair value of land by $40.018 million. 59

Note 39 Superannuation Commitments 39.1 University employees are members of a range of superannuation funds, which are divided into the following categories:

(i) Those operative and open to membership: (ii) State Government Schemes closed to future (iii) Some University employees receive UniSuper (comprising the merged SSAU – membership by University employees: superannuation benefits through the Superannuation Scheme for Australian Universities and »» State Employees Retirement Benefits Scheme Superannuation Guarantee Scheme. TESS – Tertiary Education Superannuation Scheme) »» State Superannuation Fund

39.2 UniSuper Plans

UniSuper is a multi-employer superannuation fund Both the Defined Benefit Division and the who were members of the Defined Benefit operated by UniSuper Limited as the Corporate Accumulation Super (2) schemes are Defined Division or the Accumulation Super (2) Plan. Trustee and administered by UniSuper Management Contribution Plans for the purposes of AASB119 Employees who do not qualify for membership Pty Ltd, a wholly owned subsidiary of UniSuper Employee Benefits. While the UniSuper Defined of Defined Benefit Division or Accumulation Super Limited. The operations of UniSuper are regulated by Benefit Division (DBD) recorded an actuarial deficit (2) will have a minimum contribution of 9.25% of the Superannuation Industry (Supervision) Act 1993. at year end, the University does not have an their annual salary contributed by the University obligation in regard to the funding of this deficit. to Accumulation Super (1) prescribed under the (i) UniSuper offers eligible members the choice of Superannuation Guarantee Charge Act 1992. two schemes known as the Defined Benefit Division (ii) UniSuper also offers a cash accumulation Casual and non-permanent employees, who (DBD) or Accumulation Super (2). The contribution productivity scheme known as Accumulation do not qualify for membership of the Defined rate to the schemes is 21% of member’s salary, Super (1) (previously referred to as the Award Benefit Divisionor Accumulation Super (2), of which the member contributes 7% and the Plus Plan (APP)). University employees have are eligible for Accumulation Super (1). University 14%. Members can elect to reduce no requirement to contribute to the scheme. the level of member contributions with The University contributes the equivalent of corresponding reductions in benefits. 3% of base salary in respect of those employees

39.3 State Government Schemes

The University has a number of employees who exists and is recognised in the financial statements of As at 30 June 2014 the University’s unfunded are members of the State Employees Retirement the Scheme. The University’s portion of the unfunded superannuation liability determined by the Victorian Benefits Scheme and the State Superannuation liability comprises of employees who transferred to Government Superannuation Office amounted to Fund administered by the Government Superannuation the University from the former Melbourne College of $113.138 million ($115.388 million in 2013). The Office. These schemes are defined benefits schemes Advanced Education, together with those employees values as at 30 June 2014 are the values that have and are closed to future University employees. of the former subsidiaries Hawthorn Institute of been included in the accounts, the value of the liability Education Ltd, Victorian College of Agriculture and can increase or decrease depending on the actuarial At 30 June 2014, the State Superannuation Fund Horticulture Ltd and the Victorian College of the Arts. valuation. Funding to meet payments incurred will was carrying total liabilities for member benefits greater be provided to the University of Melbourne by the than the value of the net market value of the plan’s Australian Government. The cost is shared between assets. As a result an unfunded superannuation liability the State of Victoria and the Australian Government.

39.4 The total superannuation contributions by the University during the year in respect CONSOLIDATED of the above plans were: 2014 2013 $’000 $’000

UniSuper – Defined Benefit Division, Accumulation Super (2) 101,658 96,905 and Accumulation Super (1) State Government Schemes 846 245 Other Superannuation Funds 10,655 11,485 113,159 108,635

There were no outstanding contributions at year end (2013, nil). 60 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 40 Acquittal of Australian Government Financial Assistance (University only)

40.1 Education – CGS and Other Education Grants COMMONWEALTH GRANTS SCHEME* INDIGENOUS SUPPORT PROGRAM 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from 255,259 252,528 701 711 the Australian Government for the Programs) Net Accrual Adjustments - - - - Revenue for the Period 2(a) 255,259 252,528 701 711

Surplus / (Deficit) from the Previous Year - - - - Total Revenue Including Accrued Revenue 255,259 252,528 701 711 Less Expenses Including Accrued Expenses (255,259) (252,528) (701) (711) Surplus / (Deficit) for Reporting Period - - - -

PROMOTION OF EXCELLENCE SUPERANNUATION PROGRAM IN LEARNING & TEACHING

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from 805 351 9,189 8,478 the Australian Government for the Programs) Net Accrual Adjustments - - - - Revenue for the Period 2(a) 805 351 9,189 8,478

Surplus / (Deficit) from the Previous Year - - 375 117 Total Revenue Including Accrued Revenue 805 351 9,564 8,595 Less Expenses Including Accrued Expenses (805) (351) (9,695) (8,220) Surplus / (Deficit) for Reporting Period - - (131) 375

* Includes the basic CGS grant amount, CGS Regional Loading, CGS Enabling Loading, Maths and Science Transitional Loading and Full Fee Places Transition Loading . ** Includes Equity Support Program. 61

PARTNERSHIP AND PARTICIPATION PROGRAM ** DISABILITY SUPPORT PROGRAM NATIONAL INSTITUTES

2014 2013 2014 2013 2014 2013 $’000 $’000 $’000 $’000 $’000 $’000

2,570 3,988 242 208 5,349 5,299

------2,570 3,988 242 208 5,349 5,299

------2,570 3,988 242 208 5,349 5,299 (2,570) (3,988) (242) (208) (5,349) (5,299) ------

AUSTRALIAN MATHS & IMPROVING THE QUALITY OF REWARD FUNDING SCIENCE PARTNERSHIP PROGRAM MATHS & SCIENCE TEACHING

2014 2013 2014 2013 2014 2013 $’000 $’000 $’000 $’000 $’000 $’000

243 - - 609 1,189 -

------243 - - 609 1,189 -

------243 - - 609 1,189 - (243) - - (609) (1,189) ------62 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 40 Acquittal of Australian Government Financial Assistance (University only) (continued)

40.1 Education – CGS and Other AMSI VACATION TOTAL Education Grants (continued) SCHOOLS

2014 2013 2014 2013 Note $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian 484 467 276,031 272,639 Government for the Programs) Net Accrual Adjustments - - - - Revenue for the Period 2(a) 484 467 276,031 272,639

Surplus /(Deficit) from the Previous Year - - 375 117 Total Revenue Including Accrued Revenue 484 467 276,406 272,756 Less Expenses Including Accrued Expenses (484) (467) (276,537) (272,381) Surplus / (Deficit) for Reporting Period - - (131) 375

40.2 Higher Education Loan HECS-HELP Programmes (excl OS-HELP) (AUSTRALIAN GOVT FEE-HELP SA-HELP TOTAL PAYMENTS ONLY)

2014 2013 2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian 138,591 131,880 92,595 81,801 3,394 4,657 234,580 218,338 Government for the Programs) Net Accrual Adjustments 1,574 376 139 (4,616) 4 (1,360) 1,717 (5,600) Revenue for the Period 2(b) 140,165 132,256 92,734 77,185 3,398 3,297 236,297 212,738

Surplus / (Deficit) from the Previous Year ------Total Revenue Including Accrued Revenue 140,165 132,256 92,734 77,185 3,398 3,297 236,297 212,738 Less Expenses Including Accrued Expenses (140,165) (132,256) (92,734) (77,185) (3,398) (3,297) (236,297) (212,737) Surplus / (Deficit) for Reporting Period ------63

Note 40 Acquittal of Australian Government Financial Assistance (University only) (continued)

40.3 Scholarships INTERNATIONAL AUSTRALIAN COMMONWEALTH POSTGRADUATE POSTGRADUATE EDUCATION COSTS RESEARCH AWARDS SCHOLARSHIPS # SCHOLARSHIPS

2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian 28,153 27,681 2,318 2,352 (84) (313) Government for the Programs) Net Accrual Adjustments - - - - 99 481 Revenue for the Period 2(c) 28,153 27,681 2,318 2,352 15 168

Surplus / (Deficit) from the Previous Year 796 2,846 - - 45 1,302 Total Revenue Including Accrued Revenue 28,949 30,527 2,318 2,352 60 1,470 Less Expenses Including Accrued Expenses (30,411) (29,731) (1,283) (2,352) (133) (1,425) Surplus / (Deficit) for Reporting Period (1,462) 796 1,035 - (73) 45

COMMONWEALTH INDIGENOUS ACCOMMODATION ACCESS TOTAL SCHOLARSHIPS # SCHOLARSHIPS

2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian - (14) - (36) 30,387 29,670 Government for the Programs) Net Accrual Adjustments 165 (144) 85 149 349 486 Revenue for the Period 2(c) 165 (158) 85 113 30,736 30,156

Surplus / (Deficit) from the Previous Year 40 (17) 8 32 889 4,163 Total Revenue Including Accrued Revenue 205 (175) 93 145 31,625 34,319 Less Expenses Including Accrued Expenses (146) 215 (89) (137) (32,062) (33,430) Surplus / (Deficit) for Reporting Period 59 40 4 8 (437) 889

# Includes Grandfathered Scholarships, National Priority and National Accommodation Priority Scholarships respectively . 64 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 40 Acquittal of Australian Government Financial Assistance (University only) (continued)

# 40.4 Education Research RESEARCH JOINT RESEARCH JRE ENGINEERING RESEARCH INFRASTRUCTURE ENGAGEMENT CADETSHIPS TRAINING SCHEME BLOCK GRANTS

2014 2013 2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian Government 33,826 33,809 403 271 70,923 72,818 30,688 29,531 for the Programs) Net Accrual Adjustments ------Revenue for the Period 2(d) 33,826 33,809 403 271 70,923 72,818 30,688 29,531

Surplus / (Deficit) from - - 335 90 - - - - the Previous Year Total Revenue Including 33,826 33,809 738 361 70,923 72,818 30,688 29,531 Accrued Revenue Less Expenses Including (33,826) (33,809) - (26) (70,923) (72,818) (30,688) (29,531) Accrued Expenses Surplus / (Deficit) - - 738 335 - - - - for Reporting Period

SUSTAINABLE RESEARCH COMMERCIALISATION EXCELLENCE IN TOTAL TRAINING SCHEME UNIVERSITIES

2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian Government - - 22,922 22,781 158,762 159,210 for the Programs) Net Accrual Adjustments ------Revenue for the Period 2(d) - - 22,922 22,781 158,762 159,210

Surplus / (Deficit) from 574 574 - - 909 664 the Previous Year Total Revenue Including 574 574 22,922 22,781 159,671 159,874 Accrued Revenue Less Expenses Including (574) - (22,922) (22,781) (158,933) (158,964) Accrued Expenses Surplus / (Deficit) - 574 - - 738 909 for Reporting Period

# The reported surplus for JRE Engineering Cadetships of $0.738 million for 2014 are expected to be rolled over for future use by Education. 65

Note 40 Acquittal of Australian Government Financial Assistance (University only) (continued)

40.5 Other Capital Funding TEACHING AND EDUCATION LEARNING INVESTMENT TOTAL CAPITAL FUND FUND

2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian - - - 14,000 - 14,000 Government for the Programs) Net Accrual Adjustments - 199 13,673 15,984 13,673 16,183 Revenue for the Period 2(e) - 199 13,673 29,984 13,673 30,183

Surplus / (Deficit) from the Previous Year - - 7,012 40 7,012 40 Total Revenue Including Accrued Revenue - 199 20,685 30,024 20,685 30,223 Less Expenses Including Accrued Expenses - (199) (16,180) (23,012) (16,180) (23,211) Surplus / (Deficit) for Reporting Period - - 4,505 7,012 4,505 7,012

40.6 Australian Research Council Grants

40.6(a) Discovery INDIGENOUS PROJECTS FELLOWSHIPS RESEARCHERS TOTAL DEVELOPMENT

2014 2013 2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian 28,193 31,448 28,303 21,119 282 154 56,778 52,722 Government for the Programs) Net Accrual Adjustments 4,148 (327) (8,004) (2,005) (54) (65) (3,910) (2,398) Revenue for the Period 2(f)(i) 32,341 31,121 20,299 19,114 228 89 52,868 50,324

Surplus / (Deficit) from the Previous Year 11,696 182 12,856 201 65 - 24,617 383 Total Revenue Including Accrued Revenue 44,037 31,303 33,155 19,315 293 89 77,485 50,707 Less Expenses Including Accrued Expenses (43,408) (19,607) (33,155) (6,459) (293) (24) (76,856) (26,090) Surplus / (Deficit) for Reporting Period 629 11,696 - 12,856 - 65 629 24,617 66 NOTES TO AND FORMING PART FINANCIAL OF THE FINANCIAL STATEMENTS REPORT 2014

Note 40 Acquittal of Australian Government Financial Assistance (University only) (continued)

40.6(b) Linkages INFRASTRUCTURE INTERNATIONAL PROJECTS INDUSTRIAL TOTAL

2014 2013 2014 2013 2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian Government 2,100 3,745 (10) (11) 11,210 10,447 1,605 2,308 14,905 16,489 for the Programs) Net Accrual Adjustments (1,525) (2,015) - - (8,045) (1,101) (1,248) (2,308) (10,818) (5,424) Revenue for the Period 2(f)(ii) 575 1,730 (10) (11) 3,165 9,346 357 - 4,087 11,065

Surplus / (Deficit) from 3,638 (22) 23 42 13,115 10,938 - - 16,776 10,958 the Previous Year Total Revenue Including 4,213 1,708 13 31 16,280 20,284 357 - 20,863 22,023 Accrued Revenue Less Expenses Including (5,219) 1,930 (13) (8) (15,380) (7,169) (375) - (20,987) (5,247) Accrued Expenses Surplus / (Deficit) (1,006) 3,638 - 23 900 13,115 (18) - (124) 16,776 for Reporting Period

40.6(c) Networks TOTAL SPECIAL and Centres and Special RESEARCH CENTRES NETWORKS RESEARCH TOTAL Research Initiatives NETWORKS AND CENTRES INITIATIVES

2014 2013 2014 2013 2014 2013 2014 2013 2014 2013 Note $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

Financial Assistance Received in CASH during the Reporting Period (Total Cash Received from the Australian Government - - 7,006 9,647 7,006 9,647 12,601 12,231 19,607 21,879 for the Programs) Net Accrual Adjustments - 18 (6,028) (851) (6,028) (833) (2,493) 2,192 (8,521) 1,358 Revenue for the Period 2(f) - 18 978 8,796 978 8,814 10,108 14,423 11,086 23,237 (iii)

Surplus / (Deficit) from 57 530 3,868 (9) 3,925 521 7,602 (72) 11,527 449 the Previous Year Total Revenue Including 57 548 4,846 8,787 4,903 9,335 17,710 14,351 22,613 23,686 Accrued Revenue Less Expenses Including (57) (491) (4,569) (4,919) (4,626) (5,410) (18,024) (6,749) (22,650) (12,159) Accrued Expenses Surplus / (Deficit) - 57 277 3,868 277 3,925 (314) 7,602 (37) 11,527 for Reporting Period 67

Note 40 Acquittal of Australian Government Financial Assistance (University only) (continued)

40.7 OS-HELP Note 2014 2013

$’000 $’000

Cash Received during the reporting period 2(h) 3,073 559 Cash Spent during the reporting period (2,089) (325)

Net Cash received 984 234

Cash Surplus / (Deficit) from the previous period 234 -

Cash Surplus / (Deficit) for reporting period 1,218 234

40.8 Student Services Note 2014 2013 and Amenities Fee $’000 $’000

Unspent / (overspent) revenue 161 118 from previous period

SA-HELP Revenue Earned 2(b) 3,398 3,297

Student Services Fees direct from Students 4 6,641 4,038

Total revenue expendable in period 10,200 7,453

Student Services expenses during period (6,036) (7,292) Unspent / (overspent) Student 4,164 161 Services Revenue 68 STATEMENT BY FINANCIAL UNIVERSITY OFFICERS REPORT 2014

Statement by the Vice-Chancellor and Chief Financial Officer

The University Council at its meeting held on 16 March 2015 agreed to adopt the financial statements and authorised the Vice-Chancellor and Chief Financial Officer to sign the financial statements on behalf of the University.

In our opinion:

(a) i) the financial statements of the University of Melbourne and the consolidated entity present a true and fair view of the financial transactions of the University and the consolidated entity during the financial year ended 31 December 2014 and the financial position of its operations for the year ended on that date, and ii) the amount of Australian Government financial assistance received during the financial year ended 31 December 2014 was expended for the purposes for which it was provided, and iii) the Group has complied with all material requirements of applicable legislation, contracts, agreements and various programme guidelines that apply to the Australian Government financial assistance identified in these financial statements, and (b) the financial statements have been prepared in accordance with the Australian Accounting Standards, the Financial Management Act 1994, other mandatory professional reporting requirements and the Financial Statement Guidelines for Australian Higher Education Providers for the 2014 Reporting Period as issued by the Australian Government Department of Education. In addition, we are not aware at the date of signing these statements of any circumstances which would render any particulars included in the statements to be misleading or inaccurate and there are reasonable grounds to believe that the University of Melbourne and the consolidated entity will be able to pay its debts as and when they fall due.

Glyn Davis Allan Tait Vice-Chancellor Chief Financial Officer 16 March 2015 16 March 2015 69 70 VICTORIAN AUDITOR- FINANCIAL GENERAL’S REPORT REPORT 2014 71 72 REPORT ON FINANCIAL FINANCIAL PERFORMANCE REPORT 2014

Compliance index to disclosure requirements

Item No Source reference Disclosure Volume Page(s)

Standing directions of the minister for finance

Report of Operations contains general information about the entity and its activities, highlights for reporting period and future initiatives and is prepared 1 SD 4.2(g) 1 1–101 on a basis consistent with financial statements pursuant to the Financial Management Act 1994.

Report of Operations is prepared in accordance with Financial 2 SD 4.2(h) 1 3 Reporting Directions.

Report of Operations is signed and dated by Chancellor or equivalent and 3 SD 4.2(j) 1 3 includes date of Council Meeting at which Annual Report was approved.

Financial Statements are prepared in accordance with: »» Australian Accounting Standards (AAS and AASB standards) 4 SD 4.2(a) and other mandatory professional reporting requirements; 2 19, 68 »» Financial Reporting Directions; and »» Business Rules.

Financial Statements available, including: »» Balance Sheet and income statement; 5 SD 4.2(b) »» Statement of Recognised Income and Expense; 2 4–67 »» Cash Flows Statement; and »» Notes to the financial statements.

Signed and dated statement by Accountable Officer stating that financial statements: »» Present fairly the financial transactions during reporting period and the financial position at end of the period; 6 SD 4.2(c) 2 68 »» Were prepared in accordance with Standing Direction 4.2(c) and applicable Financial Reporting Directions; and »» Comply with applicable Australian Accounting Standards (AAS and AASB standards) and other mandatory professional reporting requirements.

Financial Statements are expressed in the nearest dollar except where the total assets, or revenue, or expenses of the institution are greater than: »» $10,000,000, the amounts shown in the financial statements 7 SD 4.2(d) 2 4–67, 24 may be expressed by reference to the nearest $1,000; and »» $1,000,000,000, the amounts shown in the financial statements may be expressed by reference to the nearest $100,000.

The financial statements were reviewed and recommended by the Audit 8 SD 4.2(e) 1 78, 90 Committee or Responsible Body prior to finalisation and submission.

Attestation on compliance with the Australian/New Zealand 9 SD 4.5.5 1 90 Risk Management Standard. 73

Item No Source reference Disclosure Volume Page(s)

Financial reporting directions

10 FRD 03A Accounting for Dividends n/a n/a

11 FRD 07A Early Adoption of Authoritative Accounting Pronouncements 2 24

12 FRD 9A Administered assets and liabilities n/a n/a

1 102–105 13 FRD 10 Disclosure Index 2 72–75

14 FRD 11 Disclosure of Ex-gratia Payments n/a n/a

15 FRD 17B Long Service Leave Wage Inflation and Discount Rates 2 23

16 FRD 19 Private Provision of Public Infrastructure 2 24

17 FRD 21B Responsible Person and Executive Officer Disclosure in the Financial Report 2 47

Consultants: Report of Operations must include a statement disclosing each of the following 1. Total number of consultancies over $10,000 2. Location (eg website) of where details of these consultancies over $10,000 have been made publicly available 3. Total number of consultancies individually valued at less than $10,000 and the total expenditure for the reporting period 18 FRD 22E 2 11 AND publication on university website required, for each consultancy more than $10,000, of a schedule listing: »» Consultant engaged »» Brief summary of project »» Total project fees approved »» Expenditure for reporting period »» Any future expenditure committed to the consultant for the project

19 FRD 22E Manner of establishment and the relevant Minister 1 76

20 FRD 22E Objectives, functions, powers and duties 1 1–101

21 FRD 22E Nature and range of services provided including communities served 1 1–101

22 FRD 22E Organisational structure and chart, including accountabilities 1 74

1 72–73 23 FRD 22E Names of Council members 2 47

Operational and budgetary objectives, performance against objectives 24 FRD22E 1 1–101 and achievements

Occupational health and safety statement including performance 25 FRD 22E indicators,performance against those indicators, and how they 1 85-89 affected outputs

Workforce data for current and previous reporting period including 26 FRD 22E 1 13, 61–63 a statement on employment and conduct principles

Summary of the financial results for the year including previous 1 13 27 FRD 22E 4 year comparisons 2 4

28 FRD 22E Significant changes in financial position during the year 2 5

29 FRD 22E Major changes or factors affecting performance 2 3 74 REPORT ON FINANCIAL FINANCIAL PERFORMANCE REPORT 2014

Item No Source reference Disclosure Volume Page(s)

Financial reporting directions (continued)

Post-balance sheet date events likely to significantly affect subsequent 30 FRD 22E 2 54 reporting periods

31 FRD 22E Summary of application and operation of the Freedom of Information Act 1982 1 100

Statement of compliance with building and maintenance provisions 32 FRD 22E 1 98 of the Building Act 1993

33 FRD 22E Statement on National Competition Policy 1 98

34 FRD 22E Summary of application and operation of the Protected Disclosure Act 2012 1 99

Statement, to the extent applicable, on the application and operation 35 FRD 22E of the Carers Recognition Act 2012 (Carers Act), and the actions that 1 99 were taken during the year to comply with the Carers Act

36 FRD 22E Summary of Environmental Performance 1 65–71

List of other information available on request from the Accountable Officer, 37 FRD 22E and which must be retained by the Accountable Officer (refer to list at (a) – (l) 1 101 in the FRD)

38 FRD 24C Reporting of office based environmental impacts 1 65–71

39 FRD 25B Victorian Industry Participation Policy in the Report of Operations n/a n/a

Accounting for VicFleet Motor Vehicle Lease Arrangements on 40 FRD 26A n/a n/a or after 1 February 2004

41 FRD 101 First time adoption 2 24

42 FRD 102 Inventories 2 20, 34

26, 21–22, 43 FRD 103E Non-current physical assets 2 36-39

44 FRD 104 Foreign currency 2 55

45 FRD 105A Borrowing Costs 2 23, 31

46 FRD 106 Impairment of assets 2 19–22, 31

47 FRD 107 Investment properties n/a n/a

48 FRD 109 Intangible assets 2 22, 40

49 FRD 110 Cash Flow Statements 2 18

50 FRD 112D Defined benefit superannuation obligations 2 23, 30, 33, 59

51 FRD 113 Investments in Subsidiaries, Jointly Controlled Associates and Entities 2 19–20, 53

52 FRD 119A Transfers through contributed capital n/a n/a

Accounting and reporting pronouncements applicable 53 FRD 120H 2 24 to the reporting period 75

Item No Source reference Disclosure Volume Page(s)

Financial Management Act 1994 (FMA)

FMA 1994 Financial Statements:

54 49 (a) Contain such information as required by the Minister;

55 49 (b) Are prepared in a manner and form approved by the Minister; 2 68

Present fairly the financial transactions of the university during 56 49 (c) 2 68 the relevant financial year to which they relate;

Present fairly the financial position of the university as at the end 57 49 (d) 2 68 of that year; and

Are certified by the accountable officer in the manner approved 58 49 (e) 2 68 by the Minister.

Education and Training Reform Act 2006 (ETRA)

ETRA, Statement on compulsory non-academic fees, subscriptions 59 1 109 s. 3.2.8 and charges payable in 2014

28, Financial and other information relating to the university’s 60 PAEC 1 32–38, 45, international operations 48–59

University »» Summary of the university commercial activities Commercial 61 1 91-97 Activity »» If the university has a controlled entity, include the accounts Guidelines of that entity in the university’s Annual Report WWW.UNIMELB.EDU.AU