Financial Reports Of

Finance 2011

Financial Reports of Higher Education Providers

October 2012 © Commonwealth of Australia 2012 ISBN: 978-1-922125-70-5 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without permission from AusInfo. Requests and inquiries concerning reproduction and rights should be addressed to the Manager, Legislative Services, AusInfo, GPO Box 84, Canberra ACT 2601. However, for the purposes of teaching, research and administration, a student or member of staff of any Australian higher education provider may copy or reproduce freely any part of the publication at no charge. Contents

1. Introduction...... 1

1.1 What is in the publication...... 1

1.2 Significant items...... 1 1.2.1 Property, Plant and Equipment - Infrastructure...... 1 1.2.2 Defined Benefit Obligations...... 1

1.3 The data reported...... 2 1.3.1 How the data was collected...... 2 1.3.2 HEPs providing data...... 2

1.4 Conventions followed in representing the data...... 2

1.5 Getting access to more data or data in electronic form...... 2

2. Overview of the Data...... 3

2.1 HEP Operating Revenue...... 3 Figure 2.1 Summary of 2011 HEP Operating Revenue, by Source...... 3

2.2 HEP Operating Expense...... 4 Figure 2.2 Summary of 2011 HEP Operating Expense, by Type...... 4

2.3 HEP Assets...... 5 Figure 2.3 Summary of 2011 HEP Assets, by Type...... 5

2.4 HEP Liabilities...... 5 Figure 2.4 Summary of 2011 HEP Liabilities, by Type...... 5

2.5 HEP Net Assets (Equity)...... 6 Figure 2.5 Summary of 2011 HEP Equity, by Type...... 6

3. The Tables...... 7

Table 1 Adjusted Statement of Financial Performance for each HEP...... 8

Table 2 Adjusted Statement of Financial Performance for Dual Sector HEPs...... 18

Table 3 Adjusted Statement of Financial Position for each HEP...... 20

Table 4 Adjusted Changes in Equity and Comprehensive Income for each HEP...... 25

Table 5 Adjusted Statement of Cash Flows for each HEP...... 30

4. Appendix...... 35

Appendix 1 HEPs Listed in the Publication...... 35

1. Introduction

1.1. What is in the publication This publication contains adjusted financial statements for higher education providers (HEPs) as listed in the Higher Education Support Act 2003 for the 2011 reporting period. The data was extracted from audited financial statements and provided to the Department of Industry, Innovation, Science, Research and Tertiary Education (DIISRTE) in 2012. The adjusted financial statements are presented in a format similar to that outlined in the Department’s Financial Statement Guidelines for Australian Higher Education Providers for the 2011 Reporting Period.

1.2. Significant items

1.2.1. Property, Plant and Equipment - Infrastructure Many universities identify infrastructure as a classification under Property, Plant and Equipment. More universities are adopting this approach and this is leading to some inconsistency between universities. In this publication, universities that have identified infrastructure in their financial statements or were able to provide a breakdown to DIISRTE, have had the infrastructure reported in Other Property, Plant and Equipment. For some universities this was included in Buildings in previous versions of this publication. For full details the universities financial statements should be examined.

1.2.2. Defined Benefit Obligations On the same basis as Finance 2009 and Finance 2010, universities that have defined benefit obligations and have not adopted the direct to equity approach, have adjusted the amounts reported in this publication as though they had retrospectively adopted this treatment. Deferred superannuation revenue and expenses are reported on a net basis in both profit and loss items and other comprehensive income. As such, universities with only defined benefit obligations that are fully covered by the Australian Government Superannuation Supplementation Program will report a nil expense and nil actuarial changes. 1.3. The data reported

1.3.1. How the data was collected Each year HEPs are required to prepare Annual Financial Statements in accordance with the specifications in the Financial Statement Guidelines for Australian Higher Education Providers (Guidelines) for the relevant reporting period. These Annual Financial Statements are intended to meet the financial reporting requirements of the Australian Government and State/Territory agencies. This publication has been prepared from HEPs’ audited Annual Financial Statements and, while in most respects the data in this publication will be the same as those statements, there may be some minor classification differences. This is because the Annual Financial Statements of some HEPs depart from the Guidelines. Also, the Adjusted Statements of Financial Performance for dual sector HEPs, in some instances, include data that was not reported in the financial statements but provided by HEPs in separate spreadsheets. As the financial statements in this document are not identical to the financial statements in the providers’ published Annual Financial Reports, the term ‘adjusted’ has been used. Unless otherwise indicated, amounts relate to the parent entity for the total institution as indicated in the university’s financial statements. That is, tables 1, 3, 4 and 5 include both higher education and vocational education and training sectors for dual sector institutions. Amounts in respect of 2010 included in the Overview of Data are amounts as reported in the Finance 2010 publication.

1.3.2. HEPs providing data The data reported in tables 1 to 5 relate to HEPs listed in Table A of the Higher Education Support Act 2003 and the University of Notre Dame Australia (which is listed in Table B of the Act). The data for 2011 was obtained from the 39 HEPs listed in Appendix 1.

1.4. Conventions followed in representing the data Data in the tables are dollars rounded to the nearest thousand. Therefore totals do not always match precisely with the sum of values in the rows and columns. Zeros indicate that the original value was nil or less than $500.

1.5. Getting access to more data or data in electronic form This publication, together with other related publications, is available on the Internet from this site:

http://www.innovation.gov.au/HigherEducation/ResourcesAndPublications/HigherEducation Publications/FinanceReports/

For information about the contents of this publication please contact: Financial Analysis and Reporting Unit Higher Education Division Location Code C16MT2 Department of Industry, Innovation, Science, Research and Tertiary Education GPO Box 9839 CANBERRA ACT 2601 Phone: (02) 6240 5803 or email: [email protected] 2. Overview of the Data

2.1. HEP Operating Revenue For the 39 HEPs in 2011, the total operating revenue, including for Vocational Education and Training activities, was $23.7 billion (revenue for higher education activities was $23.1 billion). Revenue from the Australian Government was $13.3 billion of which $10.0 billion was for grants and $3.3 billion was for HECS-HELP and FEE-HELP payments. Upfront Student Contributions were $0.5 billion and the remainder was split between the following: Fees and Charges ($5.4 billion); Consultancy and Contracts ($1.0 billion); Investment Income ($0.9 billion); State and Local Government ($0.8 billion); and other sources ($1.7 billion).

Figure 2.1 Summary of 2011 HEP Operating Revenue, by Source

Consultancy and Contracts Other Income 4.2% 7.1%

Investment Revenue Australian Government 3.7% Grants 42.4%

Fees and Charges 23.0%

Upfront Student Contributions 2.3% State and Local HECS-HELP - Australian Government Financial Government Payments Assistance 11.6% 3.5% FEE-HELP - Australian Government Payments 2.3%

2011 HEP Operating Revenue Higher Education Total Institution

($'000) % ($'000) %

Total RevenuesTotal Revenues from Continuing from Continuing Operations Operations (excluding Deferred Superannuation)23,051,396 100.00 23,658,742 100.00

AustralianAustralian Government Government Grants Grants 9,981,865 43.30 10,024,626 42.37 HECS-HELPHECS-HELP - Australian - Australian Government Government Payments Payments 2,734,737 11.86 2,734,737 11.56 FEE-HELPFEE-HELP - Australian Government Payments 527,801 2.29 541,127 2.29 State GovtState Totaland Local Government Financial Assistance 454,676 1.97 820,847 3.47 HECS-HELPUpfront - StudentStudent PaymentsContributions 543,195 2.36 543,195 2.30 Fees andFees Charges and Charges 5,294,148 22.97 5,448,800 23.03 InvestmentInvestment Income Revenue 866,392 3.76 871,648 3.68 ConsultancyConsultancy and Contracts and Contracts 987,868 4.29 994,358 4.20 Other Income * 1,660,714 7.20 1,679,404 7.10

2010 HEP Operating Revenue Higher Education Total Institution

($'000) % ($'000) %

Total RevenuesTotal Revenues from Continuing from Continuing Operations Operations (excluding Deferred Superannuation)21,532,290 100.00 22,158,466 100.00

AustralianAustralian Government Government Grants Grants 9,321,203 43.29 9,378,590 42.33 HECS-HELPHECS-HELP - Australian - Australian Government Government Payments Payments 2,594,024 12.05 2,594,024 11.71 FEE-HELPFEE-HELP - Australian Government Payments 480,642 2.23 493,165 2.23 State andState Local and GovernmentLocal Government Financial Financial Assistance Assistance 434,029 2.02 802,899 3.62 HECS-HELPUpfront - StudentStudent PaymentsContributions 535,153 2.49 535,153 2.42 Fees andFees Charges and Charges 5,009,008 23.26 5,165,317 23.31 InvestmentInvestment Income Revenue 808,943 3.76 816,027 3.68 ConsultancyConsultancy and Contracts and Contracts 879,443 4.08 885,202 3.99 Other Income * 1,469,845 6.83 1,488,089 6.72

* Other income includes royalties, trademarks and licenses and the share of net result of associates and joint ventures accounted for using the equity method. 2.2. HEP Operating Expense For the 39 HEPs in 2011, the total operating expense was $21.7 billion (expense for higher education activities was $21.1 billion). Of the total amount, $6.4 billion was accounted for by salary and salary related expenses (excluding payroll tax) for academic staff, and a further $5.6 billion by salary and salary related expenses (excluding payroll tax) for non- academic staff. The remainder was split between the following: Payroll Tax ($0.6 billion); Depreciation and Amortisation ($1.4 billion), Repairs and Maintenance ($0.7 billion) and other expenses ($7.0 billion).

Figure 2.2 Summary of 2011 HEP Operating Expense, by Type

Academic Employee Other Expenses Benefits 32.4% 29.5%

Repairs and Maintenance 3.1% Depreciation and Non-Academic Employee Amortisation Payroll Tax Benefits 6.4% 2.7% 25.9%

2011 HEP Operating Expenses Higher Education Total Institution

($'000) % ($'000) %

Total ExpensesTotal Expenses from Continuing from Continuing Operations Operations (including Deferred Superannuation)21,116,852 100.00 21,718,972 100.00

Ac EmpAcademic Exp (excl Employee Payroll Tax) Benefits * 6,195,070 29.34 6,409,874 29.51 NAc EmpNon-Academic Exp (excl Payroll Employee Tax) Benefits * 5,472,338 25.91 5,633,641 25.94 PayrollPayroll Tax Tax 574,143 2.72 591,921 2.73 DepreciationDepreciation and Amortisation and Amortisation 1,349,803 6.39 1,386,240 6.38 RepairsRepairs and Maintenance and Maintenance 650,063 3.08 669,070 3.08 Other OtherExpenses Expenses *** ** 6,875,435 32.56 7,028,226 32.36

2010 HEP Operating Expenses Higher Education Total Institution

($'000) % ($'000) %

Total ExpensesTotal Expenses from Continuing from Continuing Operations Operations (including Deferred Superannuation)19,548,876 100.00 20,139,697 100.00

Ac EmpAcademic Exp (excl Employee Payroll Tax) Benefits * 5,708,296 29.20 5,921,265 29.40 NAc EmpNon-Academic Exp (excl Payroll Employee Tax) Benefits * 5,074,400 25.96 5,225,648 25.95 PayrollPayroll Tax Tax 536,647 2.75 553,913 2.75 DepreciationDepreciation and Amortisation and Amortisation 1,233,386 6.31 1,267,285 6.29 RepairsRepairs and Maintenance and Maintenance 599,923 3.07 619,623 3.08 Other OtherExpenses Expenses *** ** 6,396,224 32.72 6,551,963 32.53

* Excluding payroll tax. ** Other expenses includes defined benefits expense, bad and doubtful debts and borrowing costs. 2.3. HEP Assets For the 39 HEPs in 2011, total assets were $54.5 billion. Of that amount, $3.3 billion was cash and cash equivalents, $7.0 billion was investments, $34.7 billion was property, plant and equipment, $6.8 billion was receivables, and $2.7 billion was other assets.

Figure 2.3 Summary of 2011 HEP Assets, by Type

Other Assets Cash and Cash Equivalents Other Property, Plant and 3.3% 6.1% Equipment 7.4% Investments 12.8%

Library 1.8% Receivables 12.5%

Construction in Progress Freehold Buildings 4.0% 40.6% Freehold Land 11.5%

2.4. HEP Liabilities For the 39 HEPs in 2011, the total liabilities were $14.5 billion. Of that amount, $1.3 billion was payables and $2.2 billion was borrowings. Provisions accounted for $9.6 billion and other liabilities were $1.4 billion.

Figure 2.4 Summary of 2011 HEP Liabilities, by Type

Other Liabilities Payables 9.4% 9.1%

Borrowings 15.1%

Provisions 66.4% 2.5. HEP Net Assets (Equity) For the 39 HEPs in 2011, the total net assets were $40.0 billion. Of that amount, reserves accounted for $16.2 billion, retained surplus $22.9 billion and statutory funds $0.8 billion.

Figure 2.5 Summary of 2011 HEP Equity, by Type

Statutory Funds 2.1% Property, Plant and Equipment Revaluation Reserve 36.3%

Retained Surplus 57.3%

Available-for-Sale Investments Revaluation Other Reserves Reserve 4.3% 0.1% 3. The Tables

Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) New South Wales Charles Macquarie The Southern The The The University University University New South Sturt University University Cross University University University of of Western of Wales University of University of New of New of Sydney Technology, Sydney Wollongong Newcastle England South Sydney Wales

Total Revenues from Continuing Operations 429,855 664,448 579,674 194,498 232,526 1,469,75 1,597,14 587,302 524,702 493,789 6,773,68 2 0 6

Australian Government Financial Assistance 289,085 278,810 357,258 139,360 169,534 771,853 852,288 311,10 399,473 293,457 3,862,22 2 0 Australian Government Grants 191,43 174,043 256,635 98,617 124,980 632,261 692,300 192,35 246,128 221,356 2,830,10 4 1 5 Commonwealth Grants Scheme and Other Grants 146, 100, 183, 74, 89, 209,5 276, 142, 211, 118 1,553, 396 673 470 962 492 87 651 067 962 ,127 387 Scholarships 3,0 5,6 6,7 2,3 3, 20, 26, 6,3 4,9 5,6 85, 28 08 66 56 281 957 470 36 28 96 426 DIISRTE Research Grants 7,5 22, 31, 5,8 11 118, 142, 18, 13, 23, 394,9 56 195 640 73 ,801 620 824 104 125 216 54 Education Investment Fund and One-off Capital Grants 31, 16, 15, 6,5 45, 22, 4,8 34, 176, 000 000 857 72 - 389 600 00 - 600 818 Australian Research Council 1, 20, 18, 1, 1 64, 72, 9, 6, 19, 216, 337 638 534 802 ,211 805 692 819 129 914 881 Other Australian Government Financial Assistance 2, 8,9 3 7,0 19, 172, 151, 11, 9,9 19, 402,6 117 29 68 52 195 903 063 225 84 803 39 HECS-HELP - Australian Government Payments 76,285 77,706 88,387 35,017 41,008 111,43 115,95 79,181 144,679 68,496 838,142 2 1 FEE-HELP - Australian Government Payments 21,366 27,061 12,236 5,726 3,546 28,160 44,037 39,570 8,666 3,605 193,973

State and Local Government Financial Assistance - 4,151 1,566 2,387 2,650 27,145 19,745 7,425 482 9,792 75,343

Upfront Student Contributions 14,556 19,532 9,776 3,062 7,895 29,462 34,234 22,005 17,967 14,892 173,38 1 Fees and Charges 75,135 287,996 88,081 21,385 37,975 422,485 369,929 181,04 69,951 127,40 1,681,38 9 1 7 Continuing Education 1, 8 15, 11 5,9 4 35, 300 32 - 6 - 502 ,221 49 4 44 258 Fee Paying Overseas Students 34, 220,0 63, 17, 13, 295, 277, 143, 56, 92, 1,214 929 79 022 915 209 413 141 523 739 782 ,752 Fee Paying Non-Overseas Postgraduate Students 6, 12, 8,2 2,4 2, 28, 21, 8,5 3, 2, 96, 416 386 79 30 712 881 075 32 091 918 720 Fee Paying Non-Overseas Undergraduate Students 2,3 7, 2 7,4 6,7 3, 2 28, 66 718 69 171 311 58 86 541 46 - 866 Fee Paying Non-Overseas Non-Award Students 3,0 6,8 1, 11, - 62 361 70 172 - 88 - 044 - 597 Other Domestic Course Fees and Charges 21, 2,7 1, 30, 15, 3 72, - 976 28 - 752 - 735 231 97 - 819 Other Fees and Charges 30, 21, 13, 7 19, 75, 16, 4,2 8,4 31, 221, 124 943 422 93 819 231 083 73 30 257 375 Investment Income 13,463 16,319 14,348 13,848 3,024 58,474 76,142 15,722 2,953 19,269 233,562

Royalties, Trademarks and Licenses 114 604 65 40 243 4,521 2,379 709 236 - 8,911

Consultancy and Contracts 11,899 14,939 56,379 5,571 472 51,673 80,644 9,805 10,458 20,155 261,995

Other Income 25,603 42,097 52,201 8,845 10,733 104,13 161,77 39,485 23,182 8,823 476,887 9 9 Donations and Bequests 4 2,9 4,4 2 81, 85, 1, 6,0 1 184, 28 75 60 73 136 776 177 610 83 ,114 032 Scholarships and Prizes 1, 4 2 6,2 4, 1, 2, 16, 878 401 05 86 7 75 - 164 389 114 919 Non-Government Grants 10, 2,5 5,2 30, 1, 4 4 51, 941 - - - 77 04 691 479 96 47 835 Net Gain on Disposal of Property, Plant and Equipment 2 (2,0 5 (1, - - - - 101 39 00 - 52) 55 157) Net Foreign Exchange Gains ------28 - - 28 Other Revenue 12, 38, 47, 8,2 7, 10, 45, 32, 17, 4,5 225,2 356 721 336 86 912 845 711 204 266 93 30 Share of Net Result ------

(continued) Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) New South Wales Charles Macquarie The Southern The The The University University University New South Sturt University University Cross University University University of of Western of Wales University of University of New of New of Sydney Technology, Sydney Wollongong Newcastle England South Sydney Wales

Total Expenses from Continuing Operations 390,578 599,287 547,172 184,860 217,232 1,301,40 1,504,53 560,334 509,771 455,616 6,270,79 4 6 0

Employee Benefits and On-Costs 228,815 314,18 301,392 110,01 130,14 744,986 892,550 339,728 310,383 250,696 3,622,89 7 2 7 6 Academic Employee Benefits 107,71 167,232 153,51 55,568 64,623 403,053 479,664 172,098 161,88 152,08 1,917,43 4 9 0 1 2 Academic Salaries 85, 133, 110, 41, 48, 290,4 378, 124, 128, 111 1,451 854 279 520 497 162 67 166 194 532 ,068 ,739 Academic Contributions to Superannuation and Pension Schemes 12, 17, 18 6,2 7,8 40, 56, 18, 18, 17, 215, 722 915 ,161 86 67 867 135 935 287 974 149 Academic Payroll Tax 5, 8,3 7,0 2, 3,2 18, 24, 8, 7,7 7,0 92, 133 68 68 812 86 466 066 217 92 44 252 Academic Workers Compensation 5 3 1, 2,3 6 1, 7 8,2 74 29 610 192 291 084 27 04 508 34 53 Academic Long Service Leave Expense 3,2 6, 7,7 1, 1, 25, 16, 11, 4,8 4, 83, 95 418 47 570 009 181 800 928 02 791 541 Academic Annual Leave 9 10, 2,6 4,0 25, 2, 8,2 9 9,8 64, 136 23 556 93 08 151 170 20 59 43 659 Other Academic Employee Benefits (1, 1, 6 1, - - 143) 518 - 837 - - - 27 839 Non-Academic Employee Benefits 121,10 146,955 147,873 54,444 65,524 341,933 412,886 167,630 148,503 98,615 1,705,46 1 4 Non-Academic Salaries 95, 119 108, 40, 48, 245, 330, 121, 117, 74, 1,299, 112 ,031 233 102 436 112 418 550 330 564 888 Non-Academic Contributions to Superannuation and Pension Schemes 13, 16, 14, 6,4 7,8 34, 46, 18, 17, 10, 185, 943 000 127 69 28 658 553 461 229 108 376 Non-Academic Payroll Tax 6,5 7,4 6,9 2,7 3,2 15, 20, 7,9 7,2 5,0 83, 06 73 48 57 86 532 521 55 96 04 278 Non-Academic Workers Compensation 7 2 5 1, 6 1, 5 7,0 24 64 46 188 291 916 622 06 361 25 43 Non-Academic Long Service Leave Expense 4,6 3, 8, 1, 1, 20, 11 10, 4,5 3,4 69, 28 615 021 284 062 779 ,712 667 69 03 740 Non-Academic Annual Leave 5 11, 2, 4,5 20, 2,0 8, 4,4 55, 188 72 366 914 28 590 60 391 718 79 806 Other Non-Academic Employee Benefits (1, 7 4,3 5 4,3 - - 368) 30 93 46 - - - 32 33 Depreciation and Amortisation 27,928 48,949 41,485 8,278 14,354 102,41 103,830 55,371 31,195 26,606 460,408 2 Repairs and Maintenance 14,932 6,175 22,302 3,477 4,455 27,348 61,392 9,486 23,684 13,150 186,40 1 Finance Costs 2,548 25,624 548 - 11 4,340 - 3,022 - 5,913 42,006

Impairment of Assets 8,092 883 406 169 107 18,391 20,668 325 2,394 (16) 51,419

Investment Losses - - - 9,600 ------9,600 Deferred Superannuation Expense 286 637 1,808 52 521 4,197 2,311 441 218 486 10,957

Other Expenses 107,977 202,832 179,23 53,272 67,637 399,730 423,785 151,96 141,89 158,78 1,887,10 1 1 7 1 3 Scholarships, Grants and Prizes 19, 39, 34, 4, 8,7 95, 90, 18, 17, 22, 351 632 414 394 147 94 505 506 787 257 682 ,118 Non-Capitalised Equipment 4,6 7,0 10, 3,2 3,3 37, 24, 5,5 6,2 5,7 108, 60 34 551 82 67 241 983 09 70 40 637 Advertising, Marketing and Promotional Expenses 1, 3, 3,8 3,3 4, 12, 4,2 3,7 7,0 9 45, 749 918 22 66 319 724 28 84 76 44 930 Other Expenditure 81, 152, 130, 42, 51, 254,2 304,0 123, 111 129, 1,381 936 466 464 477 157 60 68 881 ,294 415 ,418

Operating Result Before Income Tax 39,277 65,161 32,502 9,638 15,294 168,348 92,604 26,968 14,931 38,173 502,896

Discontinued Operations ------Income Tax Expense ------

Net Operating Result for the Year 39,277 65,161 32,502 9,638 15,294 168,348 92,604 26,968 14,931 38,173 502,896 Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) Victoria University of Deakin La Trobe The University Monash RMIT Swinburne Victoria Victoria Ballarat University University of Melbourne University University University of University Technology

Total Revenues from Continuing Operations 238,472 681,234 611,123 1,687,831 1,501,971 793,945 478,448 455,064 6,448,088

Australian Government Financial Assistance 94,897 390,837 369,581 899,670 809,976 349,645 170,670 217,345 3,302,621 Australian Government Grants 71,089 254,481 259,077 752,863 636,426 222,905 100,464 141,334 2,438,639

Commonwealth Grants Scheme and Other Grants 44, 187, 168, 238,6 272,9 172, 70, 11 1,267, 468 218 734 65 30 597 580 1,811 003 Scholarships 1, 6,0 5,5 27, 19, 5,4 2,8 3,0 71 237 06 57 713 703 20 89 86 ,611 DIISRTE Research Grants 3, 18, 21, 156, 101, 22, 11, 7,6 342,8 156 155 466 691 587 404 687 60 06 Education Investment Fund and One-off Capital Grants 12, 50, 43, 39, 7,2 14, 167, - 367 100 396 941 - 50 000 054 Australian Research Council 5 9,2 7,8 79, 53, 7,9 8,0 1, 167, 32 98 42 173 707 47 58 163 720 Other Australian Government Financial Assistance 21, 21, 5,3 207,2 148, 14, 3, 422,4 696 437 78 25 558 537 - 614 45 HECS-HELP - Australian Government Payments 22,045 106,413 101,180 100,659 142,507 94,091 50,983 67,465 685,343

FEE-HELP - Australian Government Payments 1,763 29,943 9,324 46,148 31,043 32,649 19,223 8,546 178,639

State and Local Government Financial Assistance 37,796 7,400 6,345 44,329 35,107 64,728 95,010 104,818 395,533

Upfront Student Contributions 2,328 16,364 12,252 34,498 31,795 16,991 8,606 7,921 130,755

Fees and Charges 78,637 197,666 115,070 412,174 389,971 298,583 165,741 84,122 1,741,964

Continuing Education 2 1, 2,6 16, 1, 22, 22 - 315 54 - 074 800 - 065 Fee Paying Overseas Students 54, 142, 100, 307,8 317, 247, 112, 54, 1,337, 803 162 164 45 902 411 666 531 484 Fee Paying Non-Overseas Postgraduate Students 1, 13, 4,4 19, 16, 11 6,3 1, 74, 094 264 68 774 051 ,610 68 884 513 Fee Paying Non-Overseas Undergraduate Students 1, 3 6,5 5,2 2,9 14, 30, - 251 43 60 23 74 480 127 958 Fee Paying Non-Overseas Non-Award Students 9, 1, 2,3 14, 187 681 - - 291 76 - 816 351 Other Domestic Course Fees and Charges 3,4 6 9,4 17, 3, 23, 19, 77, 97 - 33 08 490 159 554 784 525 Other Fees and Charges 18, 31, 8, 65, 32, 14, 6,8 6,9 185, 834 308 147 933 014 979 73 80 068 Investment Income 13,726 24,106 13,732 122,353 32,046 5,002 13,674 3,559 228,198

Royalties, Trademarks and Licenses - 13,460 - 3,431 10,657 - 1,952 17 29,517

Consultancy and Contracts 9,476 14,268 41,332 47,595 55,316 34,980 17,745 7,269 227,981 Other Income 1,612 17,133 52,811 123,781 137,103 24,016 5,050 30,013 391,519

Donations and Bequests 2 4 8,7 29, 8,7 6, 1 6 55, 60 09 70 156 55 155 ,110 77 292 Scholarships and Prizes 3 7 5,8 2,9 2,4 5 13, 102 48 23 - 65 83 97 85 103 Non-Government Grants 49, 42, 3 92, - - - 517 847 - - 03 667 Net Gain on Disposal of Property, Plant and Equipment (2,7 (2,7 - - 85) - - - 46 - 39) Net Foreign Exchange Gains 3 - - - 88 94 138 - - 20 Other Revenue 1, 16, 46, 45, 79, 14, 1, 28, 232,8 250 376 103 020 542 740 397 448 76 Share of Net Result ------

(continued) Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) Victoria University of Deakin La Trobe The University Monash RMIT Swinburne Victoria Victoria Ballarat University University of Melbourne University University University of University Technology

Total Expenses from Continuing Operations 195,659 605,613 527,338 1,605,682 1,418,643 737,907 431,621 446,337 5,968,800

Employee Benefits and On-Costs 103,835 361,370 340,986 827,989 793,717 449,557 264,056 293,504 3,435,014

Academic Employee Benefits 59,284 180,712 197,265 456,718 414,774 251,965 155,866 149,764 1,866,348

Academic Salaries 49, 138, 155, 340, 348,3 185, 123, 114, 1,455 221 668 408 315 05 323 748 663 ,651 Academic Contributions to Superannuation and Pension Schemes 5,8 20, 22, 48, 41, 26, 15, 14, 195, 86 753 032 453 226 867 754 327 298 Academic Payroll Tax 2,4 8, 8,0 18, 19, 11, 6,6 6,7 81, 79 117 46 853 012 299 70 73 249 Academic Workers Compensation 4 8 ( 1, 1, 3 1, 6, 95 98 631) 929 814 413 97 297 612 Academic Long Service Leave Expense 1, 6,3 6,7 13, 3,6 5,9 2,4 2,5 42, 202 48 27 284 86 60 27 06 140 Academic Annual Leave 1, 29, (2, 21, 6, 10, 66, 93 487 615 495 501) 103 241 001 534 Other Academic Employee Benefits ( 4, 5,0 4,3 4,2 6 18, 92) 441 68 89 32 - 29 197 864 Non-Academic Employee Benefits 44,551 180,658 143,721 371,271 378,943 197,592 108,190 143,740 1,568,666

Non-Academic Salaries 36, 133, 113, 276, 306,5 140, 80, 106, 1,193 590 907 524 171 77 000 043 275 ,087 Non-Academic Contributions to Superannuation and Pension Schemes 4,9 19, 18, 34, 37, 23, 11 15, 166, 27 732 228 691 627 586 ,831 615 237 Non-Academic Payroll Tax 1, 8,0 6,5 15, 17, 10, 4, 6, 69, 894 24 44 354 033 064 610 181 704 Non-Academic Workers Compensation 3 8 (5 1, 1 9 1, 5,8 82 50 20) 546 ,113 84 271 183 09 Non-Academic Long Service Leave Expense 6, 3,3 10, 9, 3, 2,4 4, 42, 761 371 92 955 813 811 89 417 009 Non-Academic Annual Leave 1, (2, 24, 2,4 19, 5, 9,7 60, 79 446 142) 728 92 147 217 73 740 Other Non-Academic Employee Benefits ( 10, 4,6 7,8 4,2 3,7 2 31, 82) 328 95 26 88 - 29 96 080 Depreciation and Amortisation 13,287 48,170 33,827 100,017 83,106 56,803 21,455 23,752 380,417

Repairs and Maintenance 4,731 32,180 9,908 61,229 35,257 14,074 13,109 18,426 188,914

Finance Costs 178 - 2,402 14,504 13,892 4,731 989 - 36,696

Impairment of Assets 1,214 5,387 5 49,062 7,967 1,505 1,584 (128) 66,596

Investment Losses - 862 ------862

Deferred Superannuation Expense ------Other Expenses 72,414 157,644 140,210 552,881 484,704 211,237 130,428 110,783 1,860,301

Scholarships, Grants and Prizes 3,7 24, 6, 181, 94, 32, 26, 8,8 378,3 34 718 219 083 972 651 126 75 78 Non-Capitalised Equipment 3, 3,8 4,0 18, 11, 9,0 14, 6, 71, 513 33 88 155 667 88 558 133 035 Advertising, Marketing and Promotional Expenses 1, 14, 5,6 7, 5,8 11, 13, 6,4 65, 301 273 74 124 44 744 345 75 780 Other Expenditure 63, 114, 124, 346, 372, 157, 76, 89, 1,345 866 820 229 519 221 754 399 300 ,108

Operating Result Before Income Tax 42,813 75,621 83,785 82,149 83,328 56,038 46,827 8,727 479,288

Discontinued Operations ------Income Tax Expense - - - - - (765) - - (765)

Net Operating Result for the Year 42,813 75,621 83,785 82,149 83,328 55,273 46,827 8,727 478,523 Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) Queensland Central Griffith University James Cook Queensland University of the The University of University of Queensland Queensland University University of Sunshine Coast Queensland Southern University Technology Queensland

Total Revenues from Continuing Operations 259,880 755,228 391,183 786,782 126,443 1,640,523 228,974 4,189,013

Australian Government Financial Assistance 114,191 430,744 233,175 473,306 96,698 901,806 154,754 2,404,674 Australian Government Grants 82,740 295,266 181,364 321,712 68,767 749,858 105,688 1,805,395

Commonwealth Grants Scheme and Other Grants 71, 214, 122, 220, 58, 254,0 93, 1,033, 616 395 505 149 182 84 054 985 Scholarships 2,0 7,4 5,6 9,3 23, 2,0 50, 08 75 64 47 813 089 47 443 DIISRTE Research Grants 3,9 25, 15, 30, 1, 119 4, 201, 78 664 720 842 460 ,581 109 354 Education Investment Fund and One-off Capital Grants 2,5 25, 71, 99, - 75 - 000 - 600 - 175 Australian Research Council 16, 9,0 15, 74, 4 115, 83 398 58 216 82 156 43 436 Other Australian Government Financial Assistance 5,0 28, 28, 21, 8,2 207,3 6,0 305, 55 759 417 158 30 48 35 002 HECS-HELP - Australian Government Payments 29,443 115,379 50,605 136,784 26,724 130,173 43,690 532,798

FEE-HELP - Australian Government Payments 2,008 20,099 1,206 14,810 1,207 21,775 5,376 66,481

State and Local Government Financial Assistance - 8,331 29,079 11,685 2,545 65,088 1,808 118,536

Upfront Student Contributions 4,892 15,222 8,535 23,295 3,137 29,306 9,758 94,145

Fees and Charges 107,610 199,378 53,995 163,901 16,384 297,915 49,864 889,047

Continuing Education 15, 5, 3,5 2 25, 213 539 - 512 - 83 32 079 Fee Paying Overseas Students 86, 150, 37, 125, 13, 259,3 33, 706, 127 930 382 510 159 86 573 067 Fee Paying Non-Overseas Postgraduate Students 2, 3,3 1, 16, 1, 5,5 3, 35, 910 94 780 691 904 93 103 375 Fee Paying Non-Overseas Undergraduate Students 5, 6, 4,6 16, 88 177 - 941 - 87 79 972 Fee Paying Non-Overseas Non-Award Students 3 1, 6 2, 58 231 - 331 177 49 27 773 Other Domestic Course Fees and Charges 6, 3 6, - 217 39 2 - - - 558 Other Fees and Charges 17, 16, 14, 8, 1, 24, 12, 96, 914 890 494 914 144 017 850 223 Investment Income 8,682 22,423 9,046 5,486 2,826 71,057 6,761 126,281

Royalties, Trademarks and Licenses 14 533 2,659 90 - 11,210 - 14,506

Consultancy and Contracts 7,367 34,918 38,370 55,692 1,352 73,171 1,277 212,147 Other Income 17,124 43,137 16,324 53,327 3,501 190,970 4,752 329,135

Donations and Bequests 3,6 2, 15, 6 33, 3 55, 146 47 251 220 50 407 83 704 Scholarships and Prizes 6 5,4 5 4, 2 11 09 38 701 24 99 015 74 ,660 Non-Government Grants 2, 2, 5 18, 98, 121 163 731 43 019 - 358 - ,814 Net Gain on Disposal of Property, Plant and Equipment ( (9 (1, - 40 291) 83) 20 - - 214) Net Foreign Exchange Gains - - 113 - - - - 113 Other Revenue 14, 31, 13, 20, 2,7 55, 4,0 141, 206 281 007 547 32 190 95 058 Share of Net Result - 542 - - - - - 542

(continued) Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) Queensland Central Griffith University James Cook Queensland University of the The University of University of Queensland Queensland University University of Sunshine Coast Queensland Southern University Technology Queensland

Total Expenses from Continuing Operations 263,643 665,201 348,663 723,163 118,085 1,436,837 214,452 3,770,044

Employee Benefits and On-Costs 116,759 418,712 191,359 433,656 72,490 785,305 139,828 2,158,109

Academic Employee Benefits 57,063 215,489 98,446 203,615 34,213 423,529 65,916 1,098,271

Academic Salaries 42, 161 77, 146, 27, 308,8 48, 812, 645 ,109 820 418 227 44 617 680 Academic Contributions to Superannuation and Pension Schemes 6,7 24, 11 24, 3, 49, 7,7 128, 70 836 ,915 131 917 011 25 305 Academic Payroll Tax 2,5 10, 4,8 8,8 1, 17, 2,8 49, 05 527 96 64 434 924 53 003 Academic Workers Compensation 3 3 3 1, 118 24 08 35 155 87 75 402 Academic Long Service Leave Expense 1, 5,6 2,6 3,9 6 13, 2,3 30, 227 54 89 99 78 449 48 044 Academic Annual Leave 3,7 13, 18, 20, 4,2 62, 20 039 818 733 717 893 98 218 Other Academic Employee Benefits 1, 13, 14 78 - - 135 85 321 - ,619 Non-Academic Employee Benefits 59,696 203,223 92,913 230,041 38,277 361,776 73,912 1,059,838

Non-Academic Salaries 44, 153, 68, 168, 30, 267,7 54, 787, 636 312 088 727 391 87 320 261 Non-Academic Contributions to Superannuation and Pension Schemes 6,9 24, 11 26, 4,4 41, 8,6 123, 84 023 ,213 564 90 944 76 894 Non-Academic Payroll Tax 2,5 7,9 4, 9,9 1, 16, 3,2 45, 23 39 109 94 598 163 67 593 Non-Academic Workers Compensation 3 4 1, 132 319 07 52 173 12 82 477 Non-Academic Long Service Leave Expense 1, 5,3 2,4 4,4 7,3 2,5 24, 316 33 64 26 813 48 05 205 Non-Academic Annual Leave 3,9 12, 6,7 18, 7 21, 5,0 69 73 297 32 447 05 935 62 ,151 Other Non-Academic Employee Benefits 1, 6,5 8, 132 - - 431 107 87 - 257 Depreciation and Amortisation 12,101 26,068 24,222 48,172 7,490 104,112 8,593 230,758

Repairs and Maintenance 8,856 10,966 11,757 22,959 4,410 65,655 3,749 128,352

Finance Costs 25 6,384 1,747 1,974 1,116 12,585 - 23,831

Impairment of Assets 206 61 889 (17) 46 6,481 5 7,671

Investment Losses - 168 - - - - - 168

Deferred Superannuation Expense ------Other Expenses 125,696 202,842 118,689 216,419 32,533 462,699 62,277 1,221,155

Scholarships, Grants and Prizes 2,4 51, 20, 52, 6, 64, 5,9 204, 69 949 523 484 912 020 75 332 Non-Capitalised Equipment 8,6 14, 9, 12, 4,2 25, 3, 78, 43 641 671 631 62 336 100 284 Advertising, Marketing and Promotional Expenses 4,8 11, 3, 9,4 1, 10, 4,9 46, 04 659 122 87 526 766 34 298 Other Expenditure 109, 124, 85, 141 19, 362,5 48, 892, 780 593 373 ,817 833 77 268 241

Operating Result Before Income Tax (3,763) 90,027 42,520 63,619 8,358 203,686 14,522 418,969

Discontinued Operations ------Income Tax Expense ------

Net Operating Result for the Year (3,763) 90,027 42,520 63,619 8,358 203,686 14,522 418,969

Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) Western Australia South Australia Curtin Edith Cowan Murdoch The The Western University of Flinders University of South University of University University University of University of Australia Adelaide University South Australia Technology Notre Dame Western Australia Australia Australia

Total Revenues from Continuing Operations 759,859 353,427 310,839 131,58 825,932 2,381,64 749,454 376,307 550,133 1,675,89 4 1 4

Australian Government Financial Assistance 349,017 219,16 158,702 103,062 459,851 1,289,79 429,354 254,425 356,058 1,039,83 1 3 7 Australian Government Grants 247,162 144,882 112,28 63,222 383,525 951,072 354,984 198,674 264,395 818,053 1 Commonwealth Grants Scheme and Other Grants 167, 122, 83, 47, 155, 575, 136, 102, 164, 402, 876 002 327 345 158 708 158 608 019 785 Scholarships 7, 2, 3, 15, 30 11 6, 5, 24, 982 711 745 404 339 ,181 ,880 531 822 233 DIISRTE Research Grants 28, 9, 16, 69, 125, 64, 21, 23, 109, 822 644 649 975 623 713 237 426 534 197 Education Investment Fund and One-off Capital Grants 2, 1, 8, 12 6, 41, 47, 000 - - 719 500 ,219 234 - 704 938 Australian Research Council 8, 2, 40, 52, 30, 8, 8, 47, 358 539 896 - 894 687 668 657 306 631 Other Australian Government Financial Assistance 32, 9, 5, 12, 94 154, 105, 59, 21 186, 124 986 664 779 ,011 564 807 452 ,010 269 HECS-HELP - Australian Government Payments 84,628 64,145 40,804 15,528 70,133 275,238 68,899 52,064 84,225 205,188

FEE-HELP - Australian Government Payments 17,227 10,134 5,617 24,312 6,193 63,483 5,471 3,687 7,438 16,596

State and Local Government Financial Assistance 9,151 12,774 6,992 585 45,095 74,597 27,123 17,920 8,729 53,772

Upfront Student Contributions 23,015 11,21 6,965 4,161 23,625 68,978 13,856 8,159 12,994 35,009 2 Fees and Charges 219,269 67,193 67,661 18,940 123,859 496,922 162,940 55,235 111,95 330,127 2 Continuing Education 1, 9, 12, 1, 1, 951 577 105 631 620 884 528 - 053 581 Fee Paying Overseas Students 186, 57, 42, 4, 95, 387, 128, 38, 88, 255, 912 749 630 777 482 550 820 480 451 751 Fee Paying Non-Overseas Postgraduate Students 11 3, 2, 1, 4, 23, 2, 1, 5, 10, ,799 300 411 359 667 536 927 768 678 373 Fee Paying Non-Overseas Undergraduate Students 8, 10, 1, 2, 3, 948 23 47 984 - 002 724 055 - 779 Fee Paying Non-Overseas Non-Award Students 1, 2, 3, 3, 569 - - 647 - 216 575 129 - 704 Other Domestic Course Fees and Charges 4, 4, 4, 2, 7, - - 899 1 - 900 274 767 - 041 Other Fees and Charges 17, 5, 17, 1, 14, 55, 21, 10, 16, 47, 090 544 569 541 090 834 092 036 770 898 Investment Income 33,885 9,786 6,257 255 35,747 85,930 38,866 15,600 20,118 74,584

Royalties, Trademarks and Licenses 28,003 5,273 - - 1,649 34,925 1,788 746 368 2,902

Consultancy and Contracts 36,152 4,129 21,884 52 42,625 104,842 34,661 7,949 29,309 71,919

Other Income 61,367 23,899 42,378 4,529 93,481 225,654 40,866 16,273 10,605 67,744

Donations and Bequests 2, 15, 1, 20, 40, 11 1, 14, 379 891 653 313 065 301 ,950 394 944 288 Scholarships and Prizes 2, 1, 1, 3, - 813 203 432 878 326 958 746 152 856 Non-Government Grants 6, 7, 5, 5, - - 447 522 740 709 - 210 - 210 Net Gain on Disposal of Property, Plant and Equipment 8, 2, 11 (3 (3 - 685 - 6 707 ,398 - - 77) 77) Net Foreign Exchange Gains ------89 - - 89 Other Revenue 58, 13 26, 2, 63, 163, 26, 9, 7, 44, 988 ,510 075 256 091 920 869 923 886 678 Share of Net Result ------

(continued)

Total Expenses from Continuing Operations 678,446 320,489 270,903 114,79 775,920 2,160,55 683,426 341,148 476,942 1,501,51 7 5 6

Employee Benefits and On-Costs 413,298 196,457 158,883 70,331 471,21 1,310,18 386,007 222,815 302,731 911,55 6 5 3 Academic Employee Benefits 234,207 94,973 79,522 44,291 257,316 710,309 217,14 120,13 171,18 508,455 1 1 3 Academic Salaries 177, 73, 62, 35, 206, 555, 156, 89, 128, 374, 350 613 930 173 112 178 599 441 940 980 Academic Contributions to Superannuation and Pension Schemes 27 10, 9, 3, 30, 81, 23, 13, 19, 56, ,011 975 250 823 366 425 242 637 457 336 Academic Payroll Tax 11 4, 3, 2, 12, 34, 9, 5, 7, 22, ,875 819 949 077 265 985 252 227 696 175 Academic Workers Compensation 1, 1 820 79 542 100 42 583 798 323 70 ,191 Academic Long Service Leave Expense 5, 2, 1, 10, 8, 3, 6, 18 107 599 033 698 817 254 244 523 851 ,618 Academic Annual Leave 12, 1, 2, 4, 20, 14, 7, 8, 30, 044 262 732 277 185 500 437 804 169 410 Other Academic Employee Benefits 2, 3, 6, 4, 4, - 626 86 143 529 384 569 176 - 745 Non-Academic Employee Benefits 179,09 101,48 79,361 26,040 213,900 599,876 168,866 102,684 131,54 403,098 1 4 8 Non-Academic Salaries 134, 81, 63, 19, 173, 472, 122, 76, 96, 295, 433 256 888 860 021 458 041 715 906 662 Non-Academic Contributions to Superannuation and Pension Schemes 20, 11 8, 2, 24, 67, 17, 11 15 44, 734 ,738 404 266 751 893 685 ,821 ,106 612 Non-Academic Payroll Tax 9, 5, 3, 1, 10, 30, 7, 4, 6, 18, 001 123 986 234 840 184 155 589 258 002 Non-Academic Workers Compensation 1, 1, 621 85 549 56 31 342 624 256 551 431 Non-Academic Long Service Leave Expense 4, 2, 1, 2, 10, 5, 2, 5, 13, 452 138 528 445 239 802 528 491 239 258 Non-Academic Annual Leave 9, 1, 1, 13 10, 6, 7, 24, 850 289 961 451 359 ,910 568 761 306 635 Other Non-Academic Employee Benefits 1, 3, 5, 5, - 855 45 728 659 287 265 51 182 498 Depreciation and Amortisation 33,730 19,300 12,664 6,172 34,776 106,642 38,867 19,481 29,261 87,609

Repairs and Maintenance 13,857 7,345 6,963 456 19,757 48,378 46,350 9,937 9,302 65,589

Finance Costs 4,509 3,560 1,602 8,507 3,890 22,068 7,424 - - 7,424

Impairment of Assets 2,197 1,041 392 56 676 4,362 74 208 86 368

Investment Losses - 1,995 1,540 - 28,763 32,298 - 3,045 - 3,045

Deferred Superannuation Expense ------

Other Expenses 210,855 90,791 88,859 29,275 216,842 636,622 204,704 85,662 135,562 425,928

Scholarships, Grants and Prizes 36, 8, 14, 1, 40, 102, 34, 13, 21 69, 857 690 603 845 751 746 595 758 ,216 569 Non-Capitalised Equipment 6, 4, 3, 8, 22, 9, 6, 5, 21, 109 036 733 329 370 577 656 159 417 232 Advertising, Marketing and Promotional Expenses 5, 8, 3, 1, 7, 26, 4, 3, 6, 14, 968 125 862 365 143 463 845 155 377 377 Other Expenditure 161 69, 66, 25, 160, 484, 155, 62, 102, 320, ,921 940 661 736 578 836 608 590 552 750

Operating Result Before Income Tax 81,413 32,938 39,936 16,787 50,012 221,086 66,028 35,159 73,191 174,378

Discontinued Operations ------Income Tax Expense - - (222) - - (222) - - (89) (89)

Net Operating Result for the Year 81,413 32,938 39,714 16,787 50,012 220,864 66,028 35,159 73,102 174,289

Table 1. Adjusted Statement of Financial Performance for each HEP, 2011 ($'000) Tasmania Northern Territory Australian Capital Territory Other Total University Tasmania Batchelor Charles Northern Australian University Australian Australian Other All of Institute Darwin Territory National of Capital Catholic Institution Tasmania of University University Canberra Territory University s Indigenou s Tertiary Education

Total Revenues from Continuing Operations 470,46 470,46 47,083 222,21 269,30 1,002,8 192,44 1,195,2 255,40 255,40 23,658,74 4 4 7 0 10 3 53 3 3 2

Australian Government Financial Assistance 337,84 337,84 30,756 95,053 125,80 647,25 117,1 764,37 173,31 173,31 13,300,49 4 4 9 0 25 5 7 7 0 Australian Government Grants 286,36 286,36 30,399 80,488 110,88 598,50 77,32 675,82 108,29 108,29 10,024,62 4 4 7 0 0 0 1 1 6 Commonwealth Grants Scheme and Other Grants 148 148 13, 49, 62, 248, 61 310, 102, 102, 5,457 ,617 ,617 493 075 568 942 ,383 325 749 749 ,127 Scholarships 9, 9, 2, 3, 11 2, 14 288, 435 435 583 917 500 ,779 247 ,026 99 99 954 DIISRTE Research Grants 30, 30, 9, 9, 71 5, 76, 2, 2, 1,294 558 558 301 603 904 ,287 639 926 652 652 ,064 Education Investment Fund and One-off Capital Grants 18, 18, 2, 2, 30, 30, 555 000 000 436 485 921 490 - 490 901 901 ,516 Australian Research Council 13, 13, 1, 1, 66 67 682, 220 220 84 457 541 ,129 883 ,012 775 775 903 Other Australian Government Financial Assistance 66, 66, 15, 14 30, 169, 7, 177 1 1 1,746 534 534 502 ,951 453 873 168 ,041 ,115 ,115 ,062 HECS-HELP - Australian Government Payments 50,483 50,483 357 14,45 14,81 35,39 36,49 71,88 60,848 60,848 2,734,73 5 2 4 1 5 7 FEE-HELP - Australian Government Payments 997 997 - 110 110 13,35 3,314 16,67 4,178 4,178 541,12 6 0 7 State and Local Government Financial Assistance 17,57 17,57 13,16 58,407 71,57 2,068 11,82 13,89 24 24 820,847 8 8 7 4 2 0 Upfront Student Contributions 9,263 9,263 3 4,317 4,320 10,97 7,178 18,15 9,189 9,189 543,19 7 5 5 Fees and Charges 60,13 60,13 288 18,81 19,10 144,71 39,11 183,82 46,29 46,29 5,448,80 2 2 3 1 7 2 9 1 1 0 Continuing Education 4, 4, 6, 6, 108 - - - 927 927 232 646 878 - - ,672 Fee Paying Overseas Students 45, 45, 9, 9, 95, 35, 130, 36, 36, 4,124 015 015 - 788 788 092 835 927 730 730 ,064 Fee Paying Non-Overseas Postgraduate Students 1, 1, 1, 1, 8, 2, 11 4, 4, 259, 359 359 - 194 194 920 323 ,243 777 777 090 Fee Paying Non-Overseas Undergraduate Students 90, - - - 128 128 - - - 160 160 865 Fee Paying Non-Overseas Non-Award Students 36, - - - 630 630 712 65 777 412 412 460 Other Domestic Course Fees and Charges 168 - - 39 - 39 - - - - - ,882 Other Fees and Charges 13, 13, 2, 2, 33 34, 4, 4, 660, 758 758 249 146 395 ,761 243 004 212 212 767 Investment Income 6,310 6,310 874 5,512 6,386 105,52 591 106,1 4,281 4,281 871,64 5 16 8 Royalties, Trademarks and Licenses ------90,761

Consultancy and Contracts 24,848 24,848 1,17 24,048 25,224 55,54 4,800 60,34 5,057 5,057 994,358 6 5 5 Other Income 14,48 14,48 819 16,06 16,88 36,67 11,81 48,49 17,24 17,24 1,588,05 9 9 7 6 7 5 2 4 4 0 Donations and Bequests 6, 6, 7, 8, 1 1 365, 833 833 5 102 107 950 119 069 ,119 ,119 745 Scholarships and Prizes 1, 1, 50, 407 407 8 360 368 269 201 470 342 342 451 Non-Government Grants 2, 3, 2, 2, 284, - - 434 695 129 - - - 459 459 823 Net Gain on Disposal of Property, Plant and Equipment (1, (1, 4 - - - 243) 243) - 146 146 1 1 ,815 Net Foreign Exchange Gains ------550 Other Revenue 7, 7, 13 13, 28, 11 39, 13, 13, 881 249 249 372 ,153 525 458 ,349 807 323 323 ,666 Share of Net Result - - - - - 51 - 51 - - 593

(continued)

Total Expenses from Continuing Operations 450,05 450,05 41,31 210,18 251,50 918,12 183,26 1,101,3 244,31 244,31 21,718,9 7 7 6 9 5 6 5 91 4 4 72

Employee Benefits and On-Costs 261,41 261,41 24,393 118,37 142,76 513,84 114,90 628,75 164,74 164,74 12,635,43 2 2 5 8 7 3 0 9 9 6 Academic Employee Benefits 144,88 144,88 11,59 62,787 74,382 246,37 64,29 310,67 93,075 93,075 6,723,82 2 2 5 8 4 2 6 Academic Salaries 110 110 8, 45, 54, 168, 50, 218, 75, 75, 5,109 ,084 ,084 458 947 405 498 302 800 939 939 ,456 Academic Contributions to Superannuation and Pension Schemes 17, 17, 1 7, 8, 43, 7, 51 9, 9, 763 062 062 ,014 387 401 743 696 ,439 750 750 ,165 Academic Payroll Tax 7, 7, 3, 3, 14 4, 18 3, 3, 313 733 733 567 345 912 ,631 026 ,657 986 986 ,952 Academic Workers Compensation 2, 2, 23, 390 390 4 615 619 415 253 668 421 421 139 Academic Long Service Leave Expense 3, 3, 1, 3, 1, 1, 194 698 698 158 341 499 1,711 634 345 967 967 ,106 Academic Annual Leave 2, 2, 1, 5, 6, 15 15 1 1, 269, 429 429 342 152 494 ,380 89 ,469 ,012 012 725 Other Academic Employee Benefits 3, 3, 50, 486 486 52 - 52 - 294 294 - - 283 Non-Academic Employee Benefits 116,53 116,53 12,79 55,588 68,386 267,46 50,60 318,07 71,67 71,67 5,911,61 0 0 8 9 9 8 4 4 0 Non-Academic Salaries 91 91 9, 39, 49, 173, 39, 213 57, 57, 4,459, ,321 ,321 423 870 293 359 744 ,103 595 595 668 Non-Academic Contributions to Superannuation and Pension 13, 13, 1, 6, 7, 43, 5, 49, 7, 7, 666, Schemes 062 062 037 717 754 453 976 429 971 971 228 Non-Academic Payroll Tax 6, 6, 2, 3, 14 3, 18 3, 3, 277, 258 258 626 889 515 ,948 229 ,177 258 258 969 Non-Academic Workers Compensation 19, 292 292 9 531 540 637 138 775 344 344 053 Non-Academic Long Service Leave Expense 2, 2, 19 1 20 1 1, 185 791 791 190 683 873 ,496 ,175 ,671 ,618 618 ,967 Non-Academic Annual Leave 1, 1, 1, 4, 6, 15 15 248, 860 860 456 850 306 ,576 81 ,657 888 888 953 Other Non-Academic Employee Benefits 53, 946 946 57 48 105 - 266 266 - - 772 Depreciation and Amortisation 20,084 20,084 1,475 14,99 16,47 60,81 11,79 72,61 11,23 11,23 1,386,24 7 2 5 7 2 8 8 0 Repairs and Maintenance 16,36 16,36 442 6,433 6,875 19,31 3,224 22,53 5,661 5,661 669,070 2 2 4 8 Finance Costs - - - - - 14,58 1,207 15,79 352 352 148,17 6 3 0 Impairment of Assets 73 73 (17 1,14 1,12 47,21 422 47,63 - - 179,25 ) 2 5 7 9 3 Investment Losses ------1,18 1,18 - - 47,158 5 5 Deferred Superannuation Expense ------10,957

Other Expenses 152,12 152,12 15,02 69,242 84,265 262,34 50,52 312,87 62,31 62,31 6,642,68 6 6 3 7 7 4 4 4 8 Scholarships, Grants and Prizes 20, 20, 1 11 79, 1, 81 2, 2, 1,222 402 402 464 1,361 ,825 466 757 ,223 527 527 ,120 Non-Capitalised Equipment 9, 9, 4, 5, 23, 2, 26, 1 1, 345 918 918 509 928 437 505 802 307 ,713 713 ,140 Advertising, Marketing and Promotional Expenses 7, 7, 3, 3, 2, 1 4, 2, 2, 216 235 235 223 555 778 600 ,710 310 289 289 ,460 Other Expenditure 114 114 13, 49, 63, 156, 44, 201, 55, 55, 4,858, ,571 ,571 827 398 225 776 258 034 785 785 968

Operating Result Before Income Tax 20,407 20,407 5,767 12,02 17,79 84,68 9,178 93,86 11,08 11,08 1,939,77 8 5 4 2 9 9 0

Discontinued Operations ------Income Tax Expense ------(1,076 )

Net Operating Result for the Year 20,407 20,407 5,767 12,02 17,79 84,68 9,178 93,86 11,08 11,08 1,938,69 8 5 4 2 9 9 4

Table 2. Adjusted Statement of Financial Performance for Dual Sector HEPs, 2011 ($'000) University of RMIT University Swinburne Victoria University Batchelor Institute Charles Darwin Ballarat University of of Indigenous University Technology Tertiary Education HED Total HED Total HED Total HED Total HED Total HED Total Instituti Instituti Instituti Instituti Instituti Instituti on on on on on on

Total Revenues from Continuing Operations 187,40 238,47 649,61 793,94 328,16 478,44 293,91 455,06 23,08 47,08 145,6 222,2 9 2 8 5 7 8 5 4 3 3 91 17

Australian Government Financial Assistance 94,36 94,89 331,4 349,64 167,60 170,67 200,52 217,34 21,62 30,75 86,73 95,05 9 7 12 5 7 0 5 5 7 6 9 3 Australian Government Grants 71,06 71,08 211,6 222,90 100,46 100,46 127,33 141,3 21,27 30,39 72,17 80,48 1 9 15 5 4 4 4 34 0 9 4 8 Commonwealth Grants Scheme and Other Grants 44,4 44,4 161, 172, 70,5 70,5 11 11 13, 13, 49,0 49, 68 68 900 597 80 80 1,811 1,811 493 493 75 075 Scholarships 1, 1, 5, 5, 2, 2, 3, 3, 5 5 2, 2 237 237 420 420 889 889 086 086 83 83 917 ,917 DIISR Research Grants 3, 3, 22,4 22,4 11, 11, 7, 7, 9, 9, 156 156 04 04 687 687 660 660 301 301 603 603 Capital Funding 7, 7, 14, 4 4 2, 2, - - - - 250 250 - 000 36 36 485 485 Australian Research Council 5 5 7, 7, 8, 8, 1, 1, 1, 1 32 32 947 947 058 058 163 163 84 84 457 ,457 Other Australian Government Financial Assistance 21, 21, 13, 14, 3, 3, 6, 15, 6, 14 668 696 944 537 - - 614 614 373 502 637 ,951 HECS-HELP - Australian Government Payments 22,04 22,04 94,09 94,09 50,98 50,98 67,46 67,46 357 357 14,45 14,4 5 5 1 1 3 3 5 5 5 55 FEE-HELP - Australian Government Payments 1,26 1,76 25,70 32,64 16,16 19,22 5,726 8,546 - - 11 11 3 3 6 9 0 3 0 0 State and Local Government Financial Assistance - 37,79 66 64,72 - 95,01 109 104,8 - 13,16 7,580 58,40 6 8 0 18 7 7 Upfront Student Contributions 2,328 2,328 16,99 16,99 8,606 8,606 7,92 7,92 3 3 4,31 4,31 1 1 1 1 7 7 Fees and Charges 67,08 78,63 245,79 298,58 114,0 165,7 54,11 84,12 133 288 10,40 18,8 3 7 2 3 04 41 5 2 5 13 Continuing Education 2 2 12, 16, 2 1, 4, 22 22 214 074 57 800 - - - - - 927 Fee Paying Overseas Students 54, 54,8 214, 247, 88,9 112, 48,0 54, 8, 9, 788 03 544 411 32 666 44 531 - - 314 788 Fee Paying Non-Overseas Postgraduate Students 1, 1, 11, 11 4, 6, 1, 1, 1, 1 094 094 599 ,610 313 368 884 884 - - 194 ,194 Fee Paying Non-Overseas Undergraduate Students 2, 2, 9, 14, - - 661 974 323 480 127 127 - - 128 128 Fee Paying Non-Overseas Non-Award Students 2, 4 3 187 187 514 376 - - 58 816 - - 78 630 Other Domestic Course Fees and Charges 6 3, 1, 3, 10, 23,5 6 19, 49 497 841 159 235 54 25 784 18 39 - - Other Fees and Charges 10, 18, 2, 14, 9 6, 2, 6, 2 2 143 834 419 979 44 873 977 980 115 49 391 ,146 Investment Income 12,92 13,72 4,386 5,002 13,45 13,67 2,545 3,559 402 874 3,382 5,51 2 6 4 4 2 Royalties, Trademarks and Licenses - - - - 1,89 1,95 17 17 - - - - 4 2 Consultancy and Contracts 9,24 9,476 29,92 34,98 17,74 17,74 6,81 7,269 541 1,17 23,94 24,04 1 3 0 2 5 1 6 6 8 Other Income 1,46 1,61 21,04 24,01 4,860 5,050 21,87 30,01 377 819 9,322 16,0 6 2 8 6 2 3 67 Donations and Bequests 2 2 5, 6, 1, 1 6 6 46 60 055 155 008 ,110 76 77 2 5 96 102 Scholarships and Prizes 2, 2, 2, 2, 5 5 1, 1 99 102 956 983 485 497 40 85 4 8 360 ,360 Non-Government Grants 2 3 2 4 1, 2, ------68 03 00 34 363 695 Net Gain on Disposal of Property, Plant and Equipment (6 (1 - - - - 38 46 - - - - 22) ,243) Net Foreign Exchange Gains - - 110 138 ------Other Revenue 1 1, 12, 14, 1, 1, 20,3 28,4 3 7, 13 ,121 250 927 740 329 397 88 48 171 72 125 ,153 Share of Net Result ------

HED Total HED Total HED Total HED Total HED Total HED Total Instituti Instituti Instituti Instituti Instituti Instituti on on on on on on Total Expenses from Continuing Operations 145,1 195,65 592,60 737,90 281,99 431,6 296,03 446,33 19,00 41,31 126,09 210,1 80 9 1 7 5 21 2 7 5 6 6 89

Employee Benefits and On-Costs 68,07 103,83 353,06 449,55 164,52 264,05 191,9 293,50 11,22 24,39 71,00 118,3 9 5 5 7 7 6 35 4 1 3 8 75 Academic Employee Benefits 36,15 59,28 196,75 251,96 98,68 155,86 91,75 149,76 5,334 11,59 37,66 62,78 1 4 6 5 3 6 9 4 5 3 7 Academic Salaries 29, 49, 142, 185, 76, 123, 68, 114, 3, 8, 27,5 45, 169 221 566 323 133 748 814 663 891 458 68 947 Academic Contributions to Superannuation and Pension Schemes 4, 5, 22,5 26,8 11, 15, 9, 14, 4 1, 4, 7, 187 886 97 67 328 754 870 327 66 014 423 387 Academic Payroll Tax 1, 2, 8, 11, 4, 6, 4, 6, 5 2, 3, 485 479 786 299 316 670 167 773 261 67 007 345 Academic Workers Compensation 3 4 1, 1, 2 3 7 1, 3 03 95 016 413 43 97 06 297 2 4 69 615 Academic Long Service Leave Expense 1 1, 4, 5, 1, 2, 1, 2, 2 ,011 202 768 960 977 427 855 506 73 158 05 341 Academic Annual Leave 17, 21, 4, 6, 6, 10, 1, 3, 5 50 93 023 103 132 241 222 001 617 342 091 ,152 Other Academic Employee Benefits ( ( 5 6 54) 92) - - 54 29 125 197 24 52 - - Non-Academic Employee Benefits 31,92 44,55 156,30 197,59 65,84 108,1 100,1 143,74 5,887 12,79 33,34 55,58 8 1 9 2 4 90 76 0 8 5 8 Non-Academic Salaries 26, 36,5 110, 140, 46,9 80,0 74, 106, 4, 9, 23,9 39, 436 90 534 000 37 43 312 275 335 423 22 870 Non-Academic Contributions to Superannuation and Pension 3, 4, 18, 23,5 6 11 10, 15, 4 1, 4, 6 Schemes 589 927 716 86 ,111 ,831 596 615 77 037 022 ,717 Non-Academic Payroll Tax 1, 1, 7, 10, 2, 4, 4, 6, 2 6 1, 2, 343 894 985 064 927 610 321 181 88 26 733 889 Non-Academic Workers Compensation 2 3 7 9 8 1, 75 82 08 84 159 271 26 183 4 9 319 531 Non-Academic Long Service Leave Expense 3 3, 3, 2, 2, 3, 4, 99 761 049 811 120 489 140 417 87 190 410 683 Non-Academic Annual Leave ( 15, 19, 4, 5, 6, 9, 6 1, 2, 4, 49) 79 317 147 304 217 794 773 70 456 910 850 Other Non-Academic Employee Benefits ( ( 3, 3, 2 65) 82) - - 286 729 187 96 26 57 29 48 Depreciation and Amortisation 9,11 13,28 46,83 56,80 13,90 21,45 15,79 23,75 678 1,47 8,998 14,9 9 7 9 3 8 5 0 2 5 97 Repairs and Maintenance 3,51 4,73 11,47 14,07 6,18 13,10 12,97 18,42 203 442 3,860 6,43 3 1 0 4 4 9 8 6 3 Finance Costs 178 178 4,340 4,73 952 989 ------1 Impairment of Assets 1,23 1,21 1,32 1,50 134 1,58 (132 (128 (8 (17 685 1,1 8 4 4 5 4 ) ) ) ) 42 Investment Losses ------

Deferred Superannuation Expense ------

Other Expenses 63,05 72,41 175,56 211,2 96,29 130,42 75,46 110,7 6,91 15,02 41,54 69,24 3 4 3 37 0 8 1 83 1 3 5 2 Scholarships, Grants and Prizes 3, 3, 31, 32, 25, 26, 7 8, 4 6, 1 654 734 323 651 519 126 ,111 875 213 64 817 1,361 Non-Capitalised Equipment 2, 3, 7, 9, 7, 14, 3, 6, 2 5 2, 4, 413 513 316 088 450 558 957 133 34 09 957 928 Advertising, Marketing and Promotional Expenses 9 1, 10, 11, 9, 13, 4, 6, 2 2, 3, 52 301 052 744 389 345 331 475 103 23 133 555 Other Expenditure 56, 63,8 126, 157, 53,9 76,3 60,0 89,3 6, 13, 29,6 49, 034 66 872 754 32 99 62 00 361 827 38 398

Operating Result Before Income Tax 42,22 42,81 57,01 56,03 46,17 46,82 (2,11 8,727 4,078 5,767 19,59 12,0 9 3 7 8 2 7 7) 5 28

Discontinued Operations ------Income Tax Expense - - (742 (765 ------) )

Net Operating Result for the Year 42,22 42,81 56,27 55,27 46,17 46,82 (2,11 8,727 4,078 5,767 19,59 12,0 9 3 5 3 2 7 7) 5 28

Table 3. Adjusted Statement of Financial Position for each HEP, 2011 ($'000) New South Wales Charles Macquarie The Southern The The The University University University New South Sturt University University Cross University University University of of Western of Wales University of University of New of New of Sydney Technology, Sydney Wollongong Newcastle England South Sydney Wales

Current Assets 79,233 106,51 178,895 47,627 64,613 304,374 323,81 245,275 39,100 166,21 1,555,66 6 1 9 3

Cash and Cash Equivalents 27, 54, 13, 34, 51, 67, 210, 216, 6,0 6, 689, 197 989 384 396 622 888 676 393 67 541 153 Current Receivables 31, 22, 37, 8, 6,6 76, 91, 13 20, 49, 358,5 192 544 983 621 80 383 643 ,113 941 480 80 Current Inventories 4,7 2 3 3 5, 32 07 - 8 121 - 44 - - 98 810 Other Current Financial Assets 10, 19, 127, 156, 10, 12, 104, 440, 362 464 528 - 46 029 415 47 092 108 091 Other Current Non-Financial Assets 9, 3,4 6, 10, 15, 5,6 51, - 312 - 39 144 - 733 722 - 92 042 Non-Current Assets Classified as Held for Sale 5,7 1, 4,0 10, 50 - - 163 - 74 - - - - 987

Non-Current Assets 973,022 2,099,52 1,187,79 255,834 493,602 2,917,69 4,459,34 1,548,59 1,566,04 960,489 16,461,9 1 8 9 5 4 4 48

Non-Current Receivables 252, 401, 282,8 56, 229, 960,3 1,052, 410, 231, 195, 4,074, 814 906 06 826 158 79 339 694 810 875 607 Non-Current Inventories ------Investments using the Equity Method 2 2 - - - 75 ------75 Available-for-Sale Financial Assets 54, 57, 71, 9 360,5 718, 1, 27, 109, 1,401 098 571 435 - 49 85 386 581 557 037 ,199 Held-to-Maturity Investments 15, 12, 27, - - 000 - - 398 - - - - 398 Other Non-Current Financial Assets 68, 3, 3,9 2, 3, 81, - 436 - - 159 37 165 119 618 - 434 Property, Plant and Equipment 664, 1,552, 814, 197, 256,8 1,571 2,610, 1,11 1,305, 617, 10,705, 521 577 675 122 92 ,998 809 4,311 565 209 679 Construction in Progress 72, 69, 9,5 22, 6, 184, 157, 68, 80, 12, 684,0 262 693 70 397 182 723 897 682 656 003 65 Land 40, 465,5 50, 13, 21, 246,8 171, 349,4 377,5 62, 1,798, 167 50 301 722 416 28 377 04 20 490 775 Buildings 515, 818, 700, 130, 167, 928, 1,325, 460,0 734,3 457,2 6,237, 827 145 201 315 202 517 997 75 56 07 842 Library 6,9 22, 4,9 1, 19, 19, 427,0 16, 11, 7,6 536,6 76 617 09 097 082 435 37 245 604 36 38 Other Property, Plant and Equipment 29, 176, 49, 29, 43, 192, 528, 219, 101, 77, 1,448, 289 572 694 591 010 495 501 905 429 873 359 Investment Property 1, 35, 36, - - - 258 - - - - - 002 260 Intangible Assets 1, 6 3,8 3 3,4 8,4 72, 18, 109, 589 67 82 53 44 02 192 375 131 128 163 Other Non-Current Non-Financial Assets 18, 3,4 3 3,2 25, - 364 - - - - 54 514 63 38 933

TOTAL ASSETS 1,052,25 2,206,03 1,366,69 303,461 558,215 3,222,07 4,783,15 1,793,86 1,605,14 1,126,70 18,017,6 5 7 3 3 6 9 4 8 11

Current Liabilities 69,604 125,038 111,17 37,454 50,358 343,316 306,087 126,444 128,484 112,98 1,410,94 9 5 9

Current Payables 20, 34, 41, 12, 4, 85, 161, 34, 40, 23, 458,2 130 569 552 632 721 193 554 408 396 129 84 Current Borrowings 2 24, 3, 7,0 35, - 971 50 - 73 098 - 311 00 - 703 Interest Bearing 2 24, 3, 7,0 35, - 971 50 - 73 098 - 311 00 - 703 Current Provisions 44, 55, 63, 18, 29, 169, 144, 75, 59, 52, 713, 194 508 757 777 695 359 533 600 012 895 330 Current Provisions (greater 12 mths) 20, 30, 39, 11 12, 100, 80, 55, 40, 41, 433,9 657 792 971 ,421 096 966 324 887 598 255 67 Other Current Liabilities 5,2 33, 5,6 6,0 15, 64, 13, 22, 36, 203,6 80 990 20 45 869 666 - 125 076 961 32 Non-Current Liabilities 292,435 668,233 324,670 59,668 241,988 1,160,09 1,115,8 471,620 279,380 312,46 4,926,40 6 53 1 4

Non-Current Payables 5 5 - - 94 ------94 Non-Current Borrowings 30, 277,3 40, 42, 37, 77, 505,7 000 77 - - 46 612 - 930 000 832 97 Interest Bearing 30, 277,3 40, 42, 37, 77, 505,7 000 77 - - 46 612 - 930 000 832 97 Non-Current Provisions 262,4 381, 323,4 59, 241, 1,096, 1,115 428,6 242,3 209,5 4,361, 35 427 95 668 942 309 ,853 90 80 46 745 Other Non-Current Liabilities 9,4 23, 25, 58, - 29 581 - - 175 - - - 083 268

TOTAL LIABILITIES 362,039 793,271 435,849 97,122 292,346 1,503,41 1,421,94 598,064 407,864 425,446 6,337,35 2 0 3

NET ASSETS 690,216 1,412,76 930,844 206,339 265,869 1,718,6 3,361,21 1,195,80 1,197,28 701,262 11,680,2 6 61 6 5 0 58

Equity 690,216 1,412,76 930,844 206,339 265,869 1,718,6 3,361,21 1,195,80 1,197,28 701,262 11,680,2 6 61 6 5 0 58

Statutory Funds 751, 751, ------438 - - - 438 Reserves 254,5 458,2 474, 52, 464,5 248,7 564,7 500,7 (9,7 3,009, 00 35 514 - 866 85 30 05 47 59) 123 Retained Surplus (includes Minority Interest) 435, 954, 456,3 206,3 213, 1,254, 2,361, 631, 696,5 711 7,919, 716 531 30 39 003 076 048 100 33 ,021 697

Table 3. Adjusted Statement of Financial Position for each HEP, 2011 ($'000) Victoria University of Deakin La Trobe The University Monash RMIT Swinburne Victoria Victoria Ballarat University University of Melbourne University University University of University Technology

Current Assets 171,761 300,973 213,810 266,079 119,643 108,145 160,812 98,635 1,439,858

Cash and Cash Equivalents 119, 149, 147, 126, 47, 41, 124, 14, 770,3 329 591 201 977 133 677 018 439 65 Current Receivables 13, 67, 20, 100, 59, 59, 21, 31, 374, 588 298 402 928 231 320 603 785 155 Current Inventories 3 7 5, 1, 1, 9, 231 84 57 091 717 - - 621 801 Other Current Financial Assets 36, 83, 2,9 15, 137, 162 700 60 - - - - 000 822 Other Current Non-Financial Assets 2, 7,8 33, 11, 7, 15 7,5 84, 451 - 62 083 562 148 ,191 90 887 Non-Current Assets Classified as Held for Sale 34, 28, 62, - - 628 - - - - 200 828

Non-Current Assets 361,623 1,284,12 1,087,072 4,193,21 2,420,658 2,000,264 769,465 869,906 12,986,325 6 1

Non-Current Receivables 67, 177, 77, 120, 30, 339, 258,0 145, 1,217 224 575 961 065 787 781 76 605 ,074 Non-Current Inventories ------Investments using the Equity Method 13, 2,5 16, - - - - 876 - 00 - 376 Available-for-Sale Financial Assets 97, 26, 1,024, 200, 63, 1,412 519 452 437 798 001 - 679 - ,886 Held-to-Maturity Investments ------Other Non-Current Financial Assets 5, 22, 26, 2,4 1, 58, - - 140 546 365 94 - 867 412 Property, Plant and Equipment 222,4 1,005, 939,6 2,981, 1,845, 1,657, 445, 671, 9,769, 85 763 84 459 834 989 210 144 568 Construction in Progress 17, 88, 100, 92, 98, 215, 20, 21, 655, 694 587 319 970 532 184 584 731 601 Land 34, 129, 285,4 710, 319, 378,4 137, 135, 2,131 811 477 20 531 563 55 783 798 ,838 Buildings 142, 609,7 444, 1,926, 1,100 936, 234,4 474,3 5,868, 702 46 181 593 ,336 471 96 58 883 Library 3,2 18, 20, 75, 88, 30, 12, 9, 260, 09 955 803 924 685 958 590 192 316 Other Property, Plant and Equipment 24, 158, 88, 175, 238, 96, 39, 30, 852,9 069 998 961 441 718 921 757 065 30 Investment Property 65, 29, 94, 180 - - - 805 - - - 985 Intangible Assets 6, 3,3 36, 33, 78, 39, 197, 215 36 880 001 636 - - 466 534 Other Non-Current Non-Financial Assets 9 11, 195, 11, 219, - - 70 342 354 - - 824 490

TOTAL ASSETS 533,384 1,585,099 1,300,882 4,459,290 2,540,301 2,108,409 930,277 968,541 14,426,18 3

Current Liabilities 32,910 213,639 115,755 537,493 315,074 236,856 91,568 91,350 1,634,645

Current Payables 5,4 45, 39, 92, 107, 59, 28, 27, 404,7 58 308 152 129 099 585 231 764 26 Current Borrowings 5 5, 6,5 55, 17, 8 85, 27 9 160 43 147 289 92 - 567 Interest Bearing 5 5, 6,5 55, 17, 8 85, 27 - 160 43 147 289 92 - 558 Current Provisions 21, 67, 59, 171, 128, 111 49, 58, 669, 293 546 877 926 959 ,874 187 979 641 Current Provisions (greater 12 mths) 2,6 20, 32, 92, 80, 55, 22, 34, 341, 58 498 367 795 486 459 571 559 393 Other Current Liabilities 5,6 100, 11, 266,8 23, 48, 13, 4,6 474, 32 776 566 95 869 108 258 07 711 Non-Current Liabilities 71,905 188,847 120,105 428,724 478,976 439,907 170,427 152,053 2,050,944

Non-Current Payables 4 4 - 00 ------00 Non-Current Borrowings 1, 30, 171 268,3 90, 20, 582,4 951 26 531 ,213 79 000 362 - 62 Interest Bearing 1, 30, 171 268,3 90, 20, 582,4 951 - 531 ,213 79 000 362 - 36 Non-Current Provisions 69, 188, 82, 144, 210, 349,9 149, 152, 1,347, 954 421 154 951 597 07 565 007 556 Other Non-Current Liabilities 7,4 112, 5 120, - - 20 560 - - 00 46 526

TOTAL LIABILITIES 104,815 402,486 235,860 966,217 794,050 676,763 261,995 243,403 3,685,589

NET ASSETS 428,569 1,182,61 1,065,022 3,493,073 1,746,25 1,431,64 668,282 725,138 10,740,594 3 1 6

Equity 428,569 1,182,61 1,065,022 3,493,073 1,746,25 1,431,64 668,282 725,138 10,740,594 3 1 6

Statutory Funds 83, 83, - - - - 102 - - - 102 Reserves 131, 251, 707,2 2,434, 907,2 607, 132, 284, 5,457, 994 644 70 743 06 419 105 861 242 Retained Surplus (includes Minority Interest) 296,5 930,9 357,7 1,058, 755,9 824,2 536, 440,2 5,200, 75 69 52 330 43 27 177 77 250

Table 3. Adjusted Statement of Financial Position for each HEP, 2011 ($'000) Queensland Central Griffith University James Cook Queensland University of the The University of University of Queensland Queensland University University of Sunshine Coast Queensland Southern University Technology Queensland

Current Assets 85,441 428,105 146,536 307,470 45,656 482,842 119,983 1,616,033

Cash and Cash Equivalents 29, 352,2 110, 86, 14, 360, 52, 1,00 512 64 648 069 830 611 178 6,112 Current Receivables 18, 65, 25, 46, 2,0 100, 9,2 267, 340 031 573 712 99 274 25 254 Current Inventories 1, 1, 1, 3,2 4,3 1, 14 890 513 820 44 - 99 445 ,311 Other Current Financial Assets 35, 171, 26, 10, 52, 296, 500 - - 445 250 000 816 011 Other Current Non-Financial Assets 9,2 8,4 2,4 7,5 4, 32, 199 97 95 - 77 58 319 345 Non-Current Assets Classified as Held for Sale ------

Non-Current Assets 261,459 1,698,897 680,674 1,030,598 177,866 2,715,735 342,684 6,907,913

Non-Current Receivables 5, 30, 13, 49, - - 138 700 - 516 - 354 Non-Current Inventories ------Investments using the Equity Method 9 - 25 - - - - - 925 Available-for-Sale Financial Assets 1, 1, 25, 25, 54, 955 568 534 - - 592 - 649 Held-to-Maturity Investments ------Other Non-Current Financial Assets 38, 3 136, 175, - - - 495 72 146 - 013 Property, Plant and Equipment 252,6 1,675, 646,2 926,7 175, 2,530, 337,7 6,545, 28 788 92 38 343 580 66 135 Construction in Progress 3,7 73, 36, 108, 5,0 112, 5,5 345, 46 528 621 304 35 372 55 161 Land 44, 185, 116, 229,2 16, 378,5 31, 1,00 011 680 358 60 915 87 150 1,961 Buildings 176, 1,231 410, 472, 135, 1,591 259,8 4,276, 479 ,518 500 241 100 ,038 52 728 Library 1, 7 5 51, 54, 878 20 00 - 25 785 - 908 Other Property, Plant and Equipment 26, 184, 82, 116, 18, 396,7 41, 866, 514 342 313 933 268 98 209 377 Investment Property 1, 1, 650 ------650 Intangible Assets 5,2 13, 3, 34, 1, 9, 4, 74, 26 900 710 665 990 901 918 310 Other Non-Current Non-Financial Assets 6, 6, - 716 - - 161 - - 877

TOTAL ASSETS 346,900 2,127,002 827,210 1,338,068 223,522 3,198,577 462,667 8,523,946

Current Liabilities 48,078 175,864 38,915 108,341 14,965 292,798 37,844 716,805

Current Payables 8, 23, 20, 32, 1, 71, 11, 169, 197 499 580 286 567 996 790 915 Current Borrowings 13, 1, 1, 5,9 1, 23, - 008 637 - 649 87 188 469 Interest Bearing 13, 1, 1, 5,9 1, 23, - 008 637 - 649 87 188 469 Current Provisions 19, 71, 2,9 55, 9,9 131, 22, 314, 924 896 47 278 69 726 282 022 Current Provisions (greater 12 mths) 9,6 50, 34, 72, 11, 178, 00 758 - 053 - 654 423 488 Other Current Liabilities 19, 67, 13, 20, 1, 83, 2,5 209, 957 461 751 777 780 089 84 399 Non-Current Liabilities 19,240 75,042 51,587 34,572 20,250 167,744 21,803 390,238

Non-Current Payables 2,7 2, - - 46 - - - - 746 Non-Current Borrowings 62, 26, 13, 16, 144, 15, 280, - 453 462 499 874 896 912 096 Interest Bearing 62, 20, 16, 113, 13, 226, - 453 355 - 874 947 145 774 Non-Current Provisions 5,9 12, 22, 16, 3,3 22, 5, 89, 88 589 379 642 76 848 891 713 Other Non-Current Liabilities 13, 4, 17, 252 - - 431 - - - 683

TOTAL LIABILITIES 67,318 250,906 90,502 142,913 35,215 460,542 59,647 1,107,043

NET ASSETS 279,582 1,876,096 736,708 1,195,155 188,307 2,738,035 403,020 7,416,903

Equity 279,582 1,876,096 736,708 1,195,155 188,307 2,738,035 403,020 7,416,903

Statutory Funds ------Reserves 77, 1,000, 324,0 361, 69, 1,639 211 3,683, 875 032 23 276 347 ,151 ,581 285 Retained Surplus (includes Minority Interest) 201, 876,0 412, 833,8 118, 1,098, 191, 3,733, 707 64 685 79 960 884 439 618

Table 3. Adjusted Statement of Financial Position for each HEP, 2011 ($'000) Western Australia South Australia Curtin Edith Cowan Murdoch The The Western University of Flinders University of South University of University University University of University of Australia Adelaide University South Australia Technology Notre Dame Western Australia Australia Australia

Current Assets 191,65 166,15 68,927 29,523 166,13 622,398 139,767 169,302 332,497 641,566 6 9 3

Cash and Cash Equivalents 70, 32, 46, 22, 104, 275, 22, 43, 255, 321, 257 491 269 567 249 833 835 105 887 827 Current Receivables 25, 15 15, 5, 60, 122, 27, 25, 35, 89, 051 ,193 273 766 804 087 830 876 453 159 Current Inventories 1, 1, 2, 6, 1, 1, 977 626 087 23 456 169 063 239 - 302 Other Current Financial Assets 70, 70, 141, 80, 93, 174, 594 342 - 466 - 402 632 975 - 607 Other Current Non-Financial Assets 23, 14 5, 44, 7, 6, 41 54, 777 ,991 298 701 - 767 407 107 ,157 671 Non-Current Assets Classified as Held for Sale 31 32, - ,516 - - 624 140 - - - -

Non-Current Assets 1,029,02 852,560 783,323 207,042 1,530,80 4,402,75 1,296,77 502,961 1,170,27 2,970,01 1 6 2 0 9 0

Non-Current Receivables 68, 25, 95, 48, 48, 438 577 810 - 453 278 - 622 - 622 Non-Current Inventories ------Investments using the Equity Method ------683 - - 683 Available-for-Sale Financial Assets 262, 17, 2, 283, 26, 11 4, 43, 794 884 - - 362 040 831 ,544 758 133 Held-to-Maturity Investments ------Other Non-Current Financial Assets 1, 32, 433, 467, 118, 40, 5, 164, 364 - 364 - 939 667 475 581 730 786 Property, Plant and Equipment 696, 792, 540, 177, 1,059, 3,267 1,043 388, 716 2,148, 425 765 648 450 863 ,151 ,515 466 ,911 892 Construction in Progress 35, 11 17, 20, 21, 106, 43 10, 11 65, 250 ,307 663 673 768 661 ,181 663 ,450 294 Land 80, 134, 194, 48, 266, 725, 216, 38, 126, 381, 717 538 700 656 708 319 822 316 296 434 Buildings 520, 607, 296, 94, 638, 2,156, 695, 267, 481, 1,444 551 502 318 134 045 550 082 656 972 ,710 Library 18 6, 2, 3, 3, 33, 25, 17, 15, 59, ,189 116 307 960 156 728 513 906 779 198 Other Property, Plant and Equipment 41 33, 29, 10, 130, 244, 62, 53, 81 198, ,718 302 660 027 186 893 917 925 ,414 256 Investment Property 10 201, 14, 227, 18, 10, 29, - ,913 930 - 473 316 995 557 - 552 Intangible Assets 5, 7, 5, 19 38, 17, 3, 6, 27, - 421 485 392 ,716 014 239 191 980 410 Other Non-Current Non-Financial Assets 24, 24, 71, 435, 506, - - 86 200 - 286 032 - 900 932

TOTAL ASSETS 1,220,67 1,018,71 852,250 236,565 1,696,93 5,025,15 1,436,53 672,263 1,502,77 3,611,57 7 9 9 0 7 6 6

Current Liabilities 153,560 72,661 48,241 52,095 116,69 443,249 96,986 41,452 165,344 303,782 2

Current Payables 14 1 14 6, 28, 75, 38, 18, 28, 86, ,195 1,711 ,169 696 729 500 882 367 831 080 Current Borrowings 4, 2, 10 18, 5, 3, 8, 878 170 901 ,124 - 073 006 104 - 110 Interest Bearing 4, 2, 10 18, 5, 3, 8, 878 170 901 ,124 - 073 006 104 - 110 Current Provisions 74, 33, 26, 6, 61, 202, 35, 15 46, 96, 784 157 959 300 234 434 457 ,150 090 697 Current Provisions (greater 12 mths) 32, 8, 17, 31 90, 716 643 608 - ,118 085 - - - - Other Current Liabilities 59, 25, 6, 28, 26, 147, 17 4, 90, 112, 703 623 212 975 729 242 ,641 831 423 895

Non-Current Liabilities 152,460 108,727 28,687 92,094 113,24 495,21 221,32 76,839 482,316 780,476 3 1 1

Non-Current Payables 6, 4, 5, 16, - - 80 - - 80 777 463 365 605 Non-Current Borrowings 62, 42, 24, 91, 75, 297, 78, 78, 746 387 867 424 706 130 037 - - 037 Interest Bearing 62, 42, 24, 91, 75, 297, 78, 78, 746 387 867 424 706 130 037 - - 037 Non-Current Provisions 89, 66, 3, 37, 198, 124, 72, 476, 673, 714 340 740 670 537 001 287 376 951 614 Other Non-Current Liabilities 12, 12, ------220 - - 220

TOTAL LIABILITIES 306,020 181,38 76,928 144,18 229,935 938,460 318,307 118,29 647,660 1,084,25 8 9 1 8

NET ASSETS 914,657 837,331 775,322 92,376 1,467,00 4,086,69 1,118,23 553,972 855,11 2,527,31 4 0 0 6 8

Equity 914,657 837,331 775,322 92,376 1,467,00 4,086,69 1,118,23 553,972 855,11 2,527,31 4 0 0 6 8

Statutory Funds ------Reserves 28, 387, 314, 32, 107, 870, 954, 259, 159, 1,373 775 449 592 261 609 686 093 297 710 ,100 Retained Surplus (includes Minority Interest) 885, 449, 460, 60 1,359, 3,216, 164, 294, 695, 1,15 882 882 730 ,115 395 004 137 675 406 4,218

Table 3. Adjusted Statement of Financial Position for each HEP, 2011 ($'000) Tasmania Northern Territory Australian Capital Territory Other Total University Tasmania Batchelor Charles Northern Australian University Australian Australian Other All of Institute Darwin Territory National of Capital Catholic Institution Tasmania of University University Canberra Territory University s Indigenou s Tertiary Education

Current Assets 98,10 98,10 19,54 94,779 114,32 349,08 19,78 368,86 22,489 22,489 6,479,30 9 9 1 0 7 0 7 3

Cash and Cash Equivalents 69, 69, 16, 82, 98, 60, 5, 65, 1 1 3,307 289 289 026 195 221 766 007 773 1,188 1,188 ,761 Current Receivables 17, 17, 3, 6, 9, 46, 1 58 4, 4, 1,301 925 925 185 717 902 776 1,315 ,091 832 832 ,985 Current Inventories 40, 967 967 - 965 965 918 - 918 - - 243 Other Current Financial Assets 222, 223, 1, 1, 1,415 - - - 897 897 610 497 107 589 589 ,526 Other Current Non-Financial Assets 9, 9, 4, 4, 18 2, 20, 4, 4, 307, 928 928 330 005 335 ,017 961 978 880 880 833 Non-Current Assets Classified as Held for Sale 105 ------,955

Non-Current Assets 759,64 759,64 31,30 384,87 416,17 2,475,48 382,53 2,858,02 296,37 296,37 48,059,1 9 9 1 0 1 5 5 0 9 9 67

Non-Current Receivables 8, 8, 23, 23, 5,516 521 521 - - - 329 - 329 - - ,785 Non-Current Inventories ------Investments using the Equity Method 16 1, 17 35, - - - - - ,098 055 ,153 - - 412 Available-for-Sale Financial Assets 730, 730, 1 1 3,926, - - - - - 813 12 825 ,162 ,162 894 Held-to-Maturity Investments 27, ------398 Other Non-Current Financial Assets 174 174 13 13 1,135 ,715 ,715 - - - - ,223 ,223 - - ,250 Property, Plant and Equipment 557 557 31 382, 413, 1,686 356 2,042, 222, 222, 35,673 ,511 ,511 ,301 088 389 ,765 ,110 875 861 861 ,061 Construction in Progress 46, 46, 23, 24, 216, 31 248, 25, 25, 2,202, 525 525 635 487 122 960 ,840 800 828 828 057 Land 68, 68, 1, 25, 27 90 35 125, 30, 30, 6,291 745 745 272 845 ,117 ,531 ,128 659 159 159 ,007 Buildings 337, 337, 25, 305, 330, 1,15 256, 1,41 70, 70, 22,13 943 943 498 420 918 4,401 619 1,020 197 197 4,791 Library 34, 34, 9, 9, 11 3, 15 1,004 395 395 - 832 832 ,776 266 ,042 - - ,057 Other Property, Plant and Equipment 69, 69, 3, 17, 21, 213, 29, 242, 96, 96, 4,041 903 903 896 504 400 097 257 354 677 677 ,149 Investment Property 18 6, 24, 414 - - - - - ,250 400 650 - - ,413 Intangible Assets 18, 18, 5, 5, 46, 46, 517 902 902 - 546 546 - 735 735 094 094 ,708 Other Non-Current Non-Financial Assets 2, 2, 26, 26, 812 - - - 236 236 230 - 230 262 262 ,246

TOTAL ASSETS 857,75 857,75 50,842 479,64 530,49 2,824,57 402,31 3,226,88 318,86 318,86 54,538,47 8 8 9 1 2 5 7 8 8 0

Current Liabilities 73,450 73,450 7,193 29,572 36,765 221,14 41,16 262,31 47,808 47,808 4,929,76 8 6 4 7

Current Payables 19, 19, 1, 10, 12, 43, 18 62 6, 6, 1,294 775 775 684 345 029 329 ,857 ,186 327 327 ,822 Current Borrowings 5, 5, 176 - - - - - 253 4 257 - - ,179 Interest Bearing 5, 5, 176 - - - - - 253 4 257 - - ,170 Current Provisions 36, 36, 3, 16 20, 147, 16 164, 2 2 2,238, 126 126 809 ,718 527 992 ,363 355 1,811 1,811 943 Current Provisions (greater 12 mths) 19, 19, 30, 1 41 11 11 1,11 093 093 - - - 495 1,112 ,607 ,454 ,454 6,087 Other Current Liabilities 17, 17, 1, 2, 4, 24, 5, 30 19, 19, 1,219 549 549 700 509 209 574 942 ,516 670 670 ,823 Non-Current Liabilities 27,665 27,665 692 1,458 2,150 872,79 68,21 941,0 31,55 31,55 9,645,64 9 2 11 0 0 9

Non-Current Payables 20, ------425 Non-Current Borrowings 206, 56, 263, 2,007 - - - - - 938 956 894 - - ,416 Interest Bearing 206, 56, 263, 1,954 - - - - - 938 956 894 - - ,068 Non-Current Provisions 27, 27, 1, 2, 657, 4 661, 26, 26, 7,388 665 665 692 458 150 275 ,181 456 237 237 ,137 Other Non-Current Liabilities 8, 7, 15 5, 5, 229 - - - - - 586 075 ,661 313 313 ,671

TOTAL LIABILITIES 101,1 101,1 7,885 31,03 38,91 1,093,94 109,37 1,203,32 79,358 79,358 14,575,4 15 15 0 5 7 8 5 16

NET ASSETS 756,64 756,64 42,957 448,61 491,57 1,730,62 292,93 2,023,56 239,51 239,51 39,963,05 3 3 9 6 5 7 2 0 0 4

Equity 756,64 756,64 42,957 448,61 491,57 1,730,62 292,93 2,023,56 239,51 239,51 39,963,05 3 3 9 6 5 7 2 0 0 4

Statutory Funds 834, ------540 Reserves 269, 269, 27, 216, 243, 876, 224, 1,10 239, 239, 16,247 261 261 550 239 789 331 908 1,239 510 510 ,235 Retained Surplus (includes Minority Interest) 487, 487, 15, 232, 247, 854, 68, 922, 22,881 382 382 407 380 787 294 029 323 - - ,279

Table 4. Adjusted Changes in Equity and Comprehensive Income for each HEP, 2010 and 2011 ($'000)

New South Wales Charles Macquarie The Southern The The The University University University New South Sturt University University Cross University University University of of Western of Wales University of University of New of New of Sydney Technology, Sydney Wollongong Newcastle England South Sydney Wales

Total Equity at the Beginning of 2010 655,251 1,208,92 859,257 191,79 220,413 1,399,62 3,220,65 1,052,76 915,702 573,964 10,298,33 4 4 0 4 0 9

Retrospective Application/Restatement ------Total Equity at the Beginning of 2010 as restated 655,251 1,208,92 859,257 191,79 220,413 1,399,62 3,220,65 1,052,76 915,702 573,964 10,298,33 4 4 0 4 0 9

Net Operating Result for 2010 16, 100, 36, 5,4 3, 141 113, 29, 61, 100, 609,0 808 554 524 36 261 ,145 736 836 375 400 75

Gain on Revaluation of Land and Buildings, net of Tax (22, 50, 17, 43, 9,9 36, 239,7 375,2 341) 032 709 - - 651 39 540 68 - 98 Investments, net of Tax, through Other Comprehensive Income ( (1, 8 (15, (32, (5 (49, 617) 173 027) - 58 575) 381) 82 34 69) 022) Net Actuarial gains (losses) in respect of Defined Benefit Plans (4 (1, (2,0 (2 (1, (7,8 (3,5 (4 (5 (6 (18, 50) 089) 62) 92) 392) 90) 72) 68) 53) 86) 454) Other Comprehensive Income (3 ( 2 94) 20) - - 210 - - - 54 - 50

Total Comprehensive Income (2010) (6,994 149,650 51,144 5,144 2,937 161,33 87,722 65,990 300,878 99,145 916,947 ) 1

Total Equity at end of 2010 648,257 1,358,57 910,40 196,938 223,350 1,560,95 3,308,37 1,118,7 1,216,58 673,109 11,215,2 4 1 1 6 50 0 86

Retrospective Application 19, 19, - 024 ------024

Total Equity at Beginning of 2011 648,257 1,377,59 910,40 196,938 223,350 1,560,95 3,308,37 1,118,7 1,216,58 673,109 11,234,3 8 1 1 6 50 0 10

Net Operating Result for 2011 39, 65, 32, 9,6 15, 168, 92, 26, 14, 38, 502,8 277 161 502 38 294 348 604 968 931 173 96

Gain on Revaluation of Land and Buildings, net of Tax 6,0 (14, 30, 39, 8,5 51, (28, 93, 39 299) - - 443 573 48 362 395) - 271 Investments, net of Tax, through Other Comprehensive Income (2, (11, (8,2 8 (14, (37, (3 (4,8 (8,5 (87, 110) 745) 96) - 26 972) 026) 26) 73) 66) 088) Net Actuarial gains (losses) in respect of Defined Benefit Plans (1, (4, (3,7 (2 (4,0 (35, (11, (9 (1, (1, (63, 154) 219) 63) 37) 44) 239) 286) 49) 083) 454) 428) Other Comprehensive Income ( 2 2 94) 70 ------120 - 96

Total Comprehensive Income (2011) 41,958 35,168 20,443 9,401 42,519 157,71 52,840 77,055 (19,30 28,153 445,947 0 0)

Total Equity at end of 2011 690,215 1,412,76 930,844 206,339 265,869 1,718,6 3,361,21 1,195,80 1,197,28 701,262 11,680,2 6 61 6 5 0 57 Table 4. Adjusted Changes in Equity and Comprehensive Income for each HEP, 2010 and 2011 ($'000)

Victoria University of Deakin La Trobe The University Monash RMIT Swinburne Victoria Victoria Ballarat University University of Melbourne University University University of University Technology

Total Equity at the Beginning of 2010 355,255 981,534 881,674 3,346,382 1,629,098 1,241,06 574,656 660,136 9,669,799 4

Retrospective Application/Restatement - - - - - (1) - - (1)

Total Equity at the Beginning of 2010 as restated 355,255 981,534 881,674 3,346,382 1,629,098 1,241,06 574,656 660,136 9,669,798 3

Net Operating Result for 2010 30, 82, 99, 53, 53, 76, 51, 34, 480,8 294 961 240 553 136 444 076 190 94

Gain on Revaluation of Land and Buildings, net of Tax 41, 8,4 51, ( 22, 123, - 848 - 04 - 430 231) 085 536 Investments, net of Tax, through Other Comprehensive Income 1, ( 1, (8,4 7 (4,5 - 847 34) 277 09) - 34 - 85) Net Actuarial gains (losses) in respect of Defined Benefit Plans ------Other Comprehensive Income 2 (2, 3,2 5 07 - - 821) 02 - - - 88

Total Comprehensive Income (2010) 30,501 126,656 99,206 60,413 47,929 127,874 51,579 56,275 600,433

Total Equity at end of 2010 385,756 1,108,190 980,880 3,406,795 1,677,027 1,368,937 626,235 716,411 10,270,23 1

Retrospective application ------

Total Equity at Beginning of 2011 385,756 1,108,190 980,880 3,406,795 1,677,027 1,368,937 626,235 716,411 10,270,23 1

Net Operating Result for 2011 42, 75, 83, 82, 83, 55, 46, 8,7 478,5 813 621 785 149 328 273 827 27 23

Gain on Revaluation of Land and Buildings, net of Tax 2, 86, 7,4 97, - - 916 766 - 36 - - 118 Investments, net of Tax, through Other Comprehensive Income (1, (2,5 (68, (14, (4,7 (91, - 424) 59) 520) 009) - 80) - 292) Net Actuarial gains (losses) in respect of Defined Benefit Plans ------Other Comprehensive Income 2 (14 ( (13, - 26 - ,117) 95) - - - 986)

Total Comprehensive Income (2011) 42,813 74,423 84,142 86,278 69,224 62,709 42,047 8,727 470,363

Total Equity at end of 2011 428,569 1,182,613 1,065,022 3,493,073 1,746,251 1,431,64 668,282 725,138 10,740,594 6 Table 4. Adjusted Changes in Equity and Comprehensive Income for each HEP, 2010 and 2011 ($'000)

Queensland Central Griffith University James Cook Queensland University of the The University of University of Queensland Queensland University University of Sunshine Coast Queensland Southern University Technology Queensland

Total Equity at the Beginning of 2010 287,683 1,584,007 676,288 1,130,739 165,031 2,791,891 323,514 6,959,153

Retrospective Application/Restatement 17, 2, (331, (310, - 3 505 580 - 034) - 946)

Total Equity at the Beginning of 2010 as restated 287,683 1,584,010 693,793 1,133,319 165,031 2,460,857 323,514 6,648,207

Net Operating Result for 2010 (6, 109, 24, 47, 15, 138, 14, 344, 316) 806 240 203 792 893 586 204

Gain on Revaluation of Land and Buildings, net of Tax 1, 40, (21, (48, (3,6 103, 39, 112, 581 548 292) 861) 97) 768 962 009 Investments, net of Tax, through Other Comprehensive Income (2 633 - 18 55) - 1 - 397 Net Actuarial gains (losses) in respect of Defined Benefit Plans ------Other Comprehensive Income 747 ------747

Total Comprehensive Income (2010) (3,355) 150,354 2,966 (1,913) 12,095 242,662 54,548 457,357

Total Equity at end of 2010 284,328 1,734,364 696,759 1,131,406 177,126 2,703,519 378,062 7,105,564

Retrospective application ------

Total Equity at Beginning of 2011 284,328 1,734,364 696,759 1,131,406 177,126 2,703,519 378,062 7,105,564

Net Operating Result for 2011 (3, 90, 42, 63, 8, 203, 14, 418, 763) 027 520 619 358 686 522 969

Gain on Revaluation of Land and Buildings, net of Tax 2, 51, ( 2, (169, 10, (102, 179 705 - 126) 822 170) 436 154) Investments, net of Tax, through Other Comprehensive Income (3, (2, (5,9 588) - 571) 255 - - - 04) Net Actuarial gains (losses) in respect of Defined Benefit Plans ------Other Comprehensive Income 425 ------425

Total Comprehensive Income (2011) (4,747) 141,732 39,949 63,748 11,180 34,516 24,958 311,336

Total Equity at end of 2011 279,581 1,876,096 736,708 1,195,154 188,306 2,738,035 403,020 7,416,900 Table 4. Adjusted Changes in Equity and Comprehensive Income for each HEP, 2010 and 2011 ($'000)

Western Australia South Australia Curtin Edith Cowan Murdoch The The Western University of Flinders University of South University of University University University of University of Australia Adelaide University South Australia Technology Notre Dame Western Australia Australia Australia

Total Equity at the Beginning of 2010 810,574 805,844 689,16 57,792 1,378,77 3,742,14 953,207 441,51 678,981 2,073,704 1 3 4 6

Retrospective Application/Restatement 12, (11, 1, 5, 5, - - 715 - 346) 369 - 227 - 227

Total Equity at the Beginning of 2010 as restated 810,574 805,844 701,876 57,792 1,367,42 3,743,51 953,207 446,743 678,981 2,078,93 7 3 1

Net Operating Result for 2010 40, 20,9 33,7 17, 49,5 162, 64, 57,2 69,9 191 897 76 32 796 65 966 092 57 66 ,315

Gain on Revaluation of Land and Buildings, net of Tax (25, (25, 73, 14, 34,4 121, - 129) - - - 129) 380 009 75 864 Investments, net of Tax, through Other Comprehensive Income 1, 7 2, (6, 2, (3 (5, 387 78 - - - 165 987) 119 57) 225) Net Actuarial gains (losses) in respect of Defined Benefit Plans ( ( ------710) - - 710) Other Comprehensive Income ( 1, 1, (1, (1, 55) 222 - - - 167 810) - - 810) Total Comprehensive Income (2010) 42,229 (2,153) 33,732 17,796 49,565 141,16 127,965 73,385 104,084 305,434 9

Total Equity at end of 2010 852,803 803,691 735,608 75,588 1,416,99 3,884,682 1,081,17 520,128 783,065 2,384,365 2 2

Retrospective application ------

Total Equity at Beginning of 2011 852,803 803,691 735,608 75,588 1,416,99 3,884,682 1,081,17 520,128 783,065 2,384,365 2 2

Net Operating Result for 2011 81, 32,9 39, 16, 50, 220, 66, 35, 73, 174, 413 38 714 787 012 864 028 159 102 289

Gain on Revaluation of Land and Buildings, net of Tax 2, 2, (3 (3 - 372 - - - 372 - 27) - 27) Investments, net of Tax, through Other Comprehensive Income (19, (2, (21, (23,3 (9 (1, (25,3 614) 164) - - - 778) 04) 88) 051) 43) Net Actuarial gains (losses) in respect of Defined Benefit Plans (5, (5, ------666) - - 666) Other Comprehensive Income 4 5 55 94 - - - 49 - - - -

Total Comprehensive Income (2011) 61,854 33,640 39,714 16,787 50,012 202,007 37,058 33,844 72,051 142,953

Total Equity at end of 2011 914,657 837,331 775,322 92,375 1,467,00 4,086,689 1,118,23 553,972 855,11 2,527,31 4 0 6 8 Table 4. Adjusted Changes in Equity and Comprehensive Income for each HEP, 2010 and 2011 ($'000)

Tasmania Northern Territory Australian Capital Territory Other Total University Tasmania Batchelor Charles Northern Australian University Australian Australian Other All of Institute Darwin Territory National of Capital Catholic Institution Tasmania of University University Canberra Territory University s Indigenou s Tertiary Education

Total Equity at the Beginning of 2010 651,27 651,27 43,543 379,86 423,41 1,701,7 276,21 1,977,99 198,98 198,98 35,994,80 3 3 9 2 81 8 9 1 1 4

Retrospective Application/Restatement (3, (3, (307, - - 529) - 529) - - - - - 880)

Total Equity at the Beginning of 2010 as restated 651,27 651,27 40,01 379,86 419,88 1,701,7 276,21 1,977,99 198,98 198,98 35,686,92 3 3 4 9 3 81 8 9 1 1 4

Net Operating Result for 2010 55, 55, (2, 15, 12, 137 8, 145 22, 22, 2,023 097 097 878) 204 326 ,160 034 ,194 150 150 ,221

Gain on Revaluation of Land and Buildings, net of Tax 39, 39, 42 42 16 16 7, 7, 813 948 948 - ,118 ,118 ,882 (211) ,671 379 379 ,694 Investments, net of Tax, through Other Comprehensive (7, (7, ( ( (63, Income - - - - - 324) - 324) 40) 40) 634) Net Actuarial gains (losses) in respect of Defined Benefit (11 (11 (31 Plans - - - - - ,975) - ,975) - - ,139) Other Comprehensive Income ( 1 - - 24) 825 801 357 - 357 - - ,900 Total Comprehensive Income (2010) 95,045 95,045 (2,90 58,14 55,245 135,10 7,823 142,92 29,489 29,489 2,744,04 2) 7 0 3 2

Total Equity at end of 2010 746,31 746,31 37,11 438,01 475,12 1,836,8 284,04 2,120,92 228,47 228,47 38,430,96 8 8 2 6 8 81 1 2 0 0 6

Retrospective application 19, ------024

Total Equity at Beginning of 2011 746,31 746,31 37,11 438,01 475,12 1,836,8 284,04 2,120,92 228,47 228,47 38,449,99 8 8 2 6 8 81 1 2 0 0 0

Net Operating Result for 2011 20, 20, 5, 12, 17, 84, 9, 93, 11 11 1,938 407 407 767 028 795 684 178 862 ,089 ,089 ,694

Gain on Revaluation of Land and Buildings, net of Tax (10, (10, (1, (1, 1, ( 79, 082) 082) - 426) 426) 266 282) 984 - - 756 Investments, net of Tax, through Other Comprehensive (35 (35, ( ( (267, Income - - - - - ,901) - 901) 49) 49) 355) Net Actuarial gains (losses) in respect of Defined Benefit (147, (147, (216 Plans - - - - - 363) - 363) - - ,457) Other Comprehensive Income (8, (8, (21, - - 78 - 78 942) - 942) - - 580)

Total Comprehensive Income (2011) 10,32 10,32 5,845 10,60 16,44 (106,25 8,896 (97,36 11,04 11,04 1,513,0 5 5 2 7 6) 0) 0 0 58

Total Equity at end of 2011 756,64 756,64 42,957 448,61 491,57 1,730,62 292,93 2,023,56 239,51 239,51 39,963,04 3 3 8 5 5 7 2 0 0 8 Table 5. Adjusted Statement of Cash Flows for each HEP, 2011 ($'000) New South Wales Charles Macquarie The Southern The The The University University University New South Sturt University University Cross University University University of of Western of Wales University of University of New of New of Sydney Technology, Sydney Wollongong Newcastle England South Sydney Wales

Cash Flows from Operating Activities: Australian Government 273,0 283,4 355, 138, 169, 782,5 852,0 312, 403,7 293,4 3,864, 85 77 517 605 589 38 68 867 29 57 932 State Government Grants 4, 1, 2, 2,6 29, 19, 6, 4 9,7 75, - 151 566 014 49 218 745 011 82 92 628 Local Government Grants 1, 1, ------414 - - 414 Upfront Student Contributions 14, 19, 9,7 3,0 7,8 30, 34, 22, 17, 14, 174, 556 532 76 69 95 704 234 005 967 892 630 OS-HELP (Net) ( ( (2 ( 152 55) 114 146) 66 201 46 77) 164 186) 79 Superannuation Supplementation ------Receipts from Student Fees and other Customers 121, 357,8 207, 38, 51, 556,9 673,0 255,2 123, 173, 2,560, 860 68 881 998 758 85 76 33 438 040 137 Dividends Received 2, 4, 1, 2 40, 31, 2 2,8 83, 441 512 005 57 164 804 302 56 - 00 541 Interest Received 4, 8, 9,5 2,6 2,6 17, 25, 16, 3,0 7,6 99, 617 591 62 84 53 953 780 431 54 78 003 Payments to Suppliers and Employees (GST Inclusive) (357,3 (553,5 (514, (165, (203, (1,177 (1,431 (504,4 (479,5 (431, (5,819, 89) 63) 641) 596) 192) ,630) ,368) 93) 93) 819) 284) Interest Paid (2,0 (19, ( (4,0 (3,0 (5, (35, 37) 943) 491) - (11) 45) - 22) - 913) 462) Income Taxes Paid ------Net Cash Inflow/(Outflow) from Operating Activities 57,285 104,570 70,289 19,885 31,571 276,728 204,883 106,425 69,241 63,741 1,004,61 8

Cash Flows from Investing Activities: Proceeds from Sale of Property, Plant and Equipment 5,5 2 2 8 2 6 55, 4, 67, 50 08 79 76 144 95 58 618 193 81 902 Proceeds from Financial Assets 15, 5,9 273, 213, 430,7 4,2 53, 996,4 000 84 102 - - 403 68 - 57 976 90 Proceeds from Related Party Loans 2,6 2,9 - - 135 - 43 - - - 94 100 72 Proceeds from Other Investments ------Payments for Property, Plant and Equipment (77, (93, (44, (25, (14, (223,9 (170, (141, (113, (75, (980,8 470) 596) 028) 253) 655) 97) 535) 906) 545) 878) 63) Payments for Financial Assets (4,8 (3 (283,4 (324, (415, (2, (53, (1,085, 62) 00) 89) - - 154) 866) 815) - 976) 462) Payments for Related Party Loans (19, (2,0 (5,2 (3, (30, - 700) 33) - - 00) - - 601) - 534) Payments for Other Investments (6,9 (3,2 (10, - - - - - 65) 96) - - - 261)

Net Cash Inflow/(Outflow) from Investing Activities (61,78 (107,40 (56,034 (24,377 (14,46 (346,61 (158,27 (89,10 (106,00 (75,697 (1,039,75 2) 4) ) ) 8) 8) 1) 3) 2) ) 6)

Cash Flows from Financing Activities: Proceeds from Borrowings 20, 228,7 9 249,6 - 000 ------00 04 04 Other Financing Inflows ------Repayment of Borrowings (9 (13, (3,5 (193, (211, - 65) 283) - - 62) - - 900) (18) 728) Repayment of Finance Leases ( (3, (3,8 - - - - 115) - - 714) - - 29) Other Financing Outflows ( ( - - - 30) ------30)

Net Cash Inflow/(Outflow) from Financing Activities - 19,035 (13,28 (30) (115 (3,562 - (3,714 34,800 886 34,017 3) ) ) )

Net Increase/(Decrease) in Cash and Cash Equivalents (4,497 16,201 972 (4,522 16,988 (73,452 46,612 13,608 (1,961 (11,07 (1,12 ) ) ) ) 0) 1)

Cash and Cash Equivalents at Beginning of Year 31, 38, 12 38, 34, 141, 163, 202,7 8,0 121, 793,5 694 788 ,411 918 634 340 240 85 28 726 64 Effects of Exchange Rate Changes on Cash and Cash Equivalents 8 ------24 - - (7) 817

Cash and Cash Equivalents at End of Year 27,197 54,989 13,383 34,396 51,622 67,888 210,676 216,393 6,067 110,64 793,260 9 Table 5. Adjusted Statement of Cash Flows for each HEP, 2011 ($'000) Victoria University of Deakin La Trobe The University Monash RMIT Swinburne Victoria Victoria Ballarat University University of Melbourne University University University of University Technology

Cash Flows from Operating Activities: Australian Government 91, 404,3 369,6 904,6 806,8 362,5 170, 213, 3,323, 389 62 22 34 28 43 670 126 174 State Government Grants 37, 9,0 6,3 49, 34, 64, 95, 110 405, 260 55 45 079 088 788 010 ,196 821 Local Government Grants 1, 1, - - - 96 019 - - 91 206 Upfront Student Contributions 2,3 13, 12, 34, 31, 16, 8,6 7, 127, 28 294 252 498 795 991 06 921 685 OS-HELP (Net) 6 (4 5 8 - 8 - - 36 60 03) 98 99 Superannuation Supplementation 3,7 13, 4,0 9,0 9,9 21, 8,6 7, 77, 03 507 72 35 82 608 36 318 861 Receipts from Student Fees and other Customers 105, 263, 199, 574,0 645,7 376, 209,8 140, 2,514, 184 791 542 06 97 185 87 175 567 Dividends Received 1, 82, 7,8 4, 96, 133 632 - 358 79 - 510 188 700 Interest Received 12, 22, 1 10, 9 5,4 9, 3,3 78, 892 031 4,111 948 29 00 164 65 840 Payments to Suppliers and Employees (GST Inclusive) (191 (581, (485,2 (1,430, (1,341 (740,5 (433, (443, (5,647, ,081) 952) 35) 458) ,275) 04) 501) 158) 164) Interest Paid ( (2,4 (14, (20, (4, (9 (43, 178) - 02) 504) 405) 731) 89) - 209) Income Taxes Paid (9 (9 - - - - - 55) - - 55) Net Cash Inflow/(Outflow) from Operating Activities 61,630 145,728 118,307 219,692 177,273 101,385 71,590 39,820 935,425

Cash Flows from Investing Activities: Proceeds from Sale of Property, Plant and Equipment 3 1, 1, 1, 3,3 6 9,0 22 385 976 252 60 62 46 69 72 Proceeds from Financial Assets 1, 4,9 1, 813, 2,3 822,6 102 94 123 064 - - 80 - 63 Proceeds from Related Party Loans 10, 44, 55, - - - - 965 - 852 - 817 Proceeds from Other Investments 7 7 - - - - 45 - - - 45 Payments for Property, Plant and Equipment (15, (128, (115, (151, (169, (197, (109, (45, (933,6 881) 414) 954) 483) 063) 703) 268) 840) 06) Payments for Financial Assets (21, (1, (827,8 (2,5 (8,0 (15, (875,6 093) - 186) 22) 00) - 02) 000) 03) Payments for Related Party Loans (17, (17, - - - - 926) - - - 926) Payments for Other Investments ( (7 (12, (13, (2,5 (16, (46, 132) 66) - 676) 493) - 00) 507) 074)

Net Cash Inflow/(Outflow) from Investing Activities (35,682) (122,801 (114,041 (177,665 (187,912 (197,041 (72,492) (77,278) (984,912 ) ) ) ) ) )

Cash Flows from Financing Activities: Proceeds from Borrowings 1, 87, 127, 20, 236,3 - - - 563 200 000 631 - 94 Other Financing Inflows 8 6,4 7, - - - 82 34 - - - 316 Repayment of Borrowings (4 (4, (6,0 (77, (37, ( (125, 95) (8) 217) 60) 950) 000) 144) (12) 886) Repayment of Finance Leases (5,4 (5,4 - - - 77) - - - - 77) Other Financing Outflows (2, (2, - - - 616) - - - - 616)

Net Cash Inflow/(Outflow) from Financing Activities (495) (8) (4,217) (11,708 15,684 90,000 20,487 (12) 109,731 )

Net Increase/(Decrease) in Cash and Cash Equivalents 25,453 22,919 49 30,319 5,045 (5,656) 19,585 (37,470) 60,244

Cash and Cash Equivalents at Beginning of Year 93, 126, 147, 96, 37, 47, 104, 51, 705, 876 672 152 658 798 333 433 909 831 Effects of Exchange Rate Changes on Cash and Cash Equivalents - - - - 94 - - - 94

Cash and Cash Equivalents at End of Year 119,329 149,591 147,201 126,977 42,937 41,677 124,018 14,439 766,169 Table 5. Adjusted Statement of Cash Flows for each HEP, 2011 ($'000) Queensland Central Griffith University James Cook Queensland University of the The University of University of Queensland Queensland University University of Sunshine Coast Queensland Southern University Technology Queensland

Cash Flows from Operating Activities: Australian Government 109, 426, 235, 469, 97, 902 154, 2,396, 362 982 948 916 331 ,112 490 141 State Government Grants 6, 29,0 7, 2, 64, 1, 112 - 951 78 172 281 937 763 ,182 Local Government Grants 4 2 9 - 67 - 28 64 151 45 55 Upfront Student Contributions 4, 15, 8, 23,2 3, 29, 9, 94,0 924 132 535 95 137 306 758 87 OS-HELP (Net) ( 2 (5) (51) 136) 22 24 74 (17) 111 Superannuation Supplementation ------Receipts from Student Fees and other Customers 130, 287, 106, 258, 23,4 629, 55,9 1,491, 376 618 937 086 00 625 37 979 Dividends Received 1, 2, 14, 19, 219 852 328 132 195 348 - 074 Interest Received 2, 20,5 6, 6, 2, 16, 6, 62,4 932 00 207 963 507 827 512 48 Payments to Suppliers and Employees (GST Inclusive) (258, (638, (321, (675, (112, (1,340, (204, (3,551, 412) 503) 205) 991) 680) 361) 702) 854) Interest Paid ( (5, (1, (1 (7, 25) 351) 488) - ,116) - - 980) Income Taxes Paid ( ( - 70) - - - - - 70) Net Cash Inflow/(Outflow) from Operating Activities (10,629) 115,527 66,204 89,623 15,343 317,219 23,786 617,073

Cash Flows from Investing Activities: Proceeds from Sale of Property, Plant and Equipment 4 1, 3 9 3 5 3, 57 000 79 53 63 79 60 791 Proceeds from Financial Assets 18, 1, 70, 89,3 - - 28 160 020 156 - 64 Proceeds from Related Party Loans ------Proceeds from Other Investments 7, 5 8, 623 - - 00 - - - 123 Payments for Property, Plant and Equipment (32, (104, (46, (112, (12, (185, (19, (514, 381) 786) 801) 804) 192) 706) 782) 452) Payments for Financial Assets ( (1, (18, (26,2 (1, (52, (100, - 175) 850) 160) 50) 079) 714) 228) Payments for Related Party Loans (5, (5, (10, - - 000) - - 645) - 645) Payments for Other Investments (1, (4, (5, 137) - - 561) - - - 698)

Net Cash Inflow/(Outflow) from Investing Activities (25,438) (103,961) (53,244) (115,912 (37,359) (121,895) (71,936) (529,745) )

Cash Flows from Financing Activities: Proceeds from Borrowings 7, 13, 2, 14, 37,8 - - 140 457 - 721 486 04 Other Financing Inflows ------Repayment of Borrowings (12, (1, (1, (14, - 194) 015) - 615) - - 824) Repayment of Finance Leases (13, (13, - - - - - 615) - 615) Other Financing Outflows (40, (40, - - - - - 417) - 417)

Net Cash Inflow/(Outflow) from Financing Activities - (12,194) 6,125 13,457 (1,615) (51,311) 14,486 (31,052)

Net Increase/(Decrease) in Cash and Cash Equivalents (36,067) (628) 19,085 (12,832) (23,631) 144,013 (33,664) 56,276

Cash and Cash Equivalents at Beginning of Year 65, 352, 91, 98, 38, 216, 85,8 950, 579 859 564 901 461 843 42 049 Effects of Exchange Rate Changes on Cash and Cash Equivalents (2 ( - 33 - - - 45) - 212)

Cash and Cash Equivalents at End of Year 29,512 352,264 110,649 86,069 14,830 360,611 52,178 1,006,113 Table 5. Adjusted Statement of Cash Flows for each HEP, 2011 ($'000) South Australia Curtin Edith Cowan Murdoch The The Western University of Flinders University of South University of University University University of University of Australia Adelaide University South Australia Technology Notre Dame Western Australia Australia Australia

Cash Flows from Operating Activities: Australian Government 360, 217, 159, 102, 462, 1,303, 426, 249, 373, 1,048, 837 538 749 812 820 756 342 082 489 913 State Government Grants 9, 12, 6, 5 47,7 76, 28, 17, 7, 54,0 151 774 415 25 06 571 515 710 782 07 Local Government Grants 5 7 - - 77 - 217 94 - 39 - 39 Upfront Student Contributions 23, 11 6, 4, 23,6 68,9 13, 7, 12, 34, 015 ,212 965 161 25 78 856 315 994 165 OS-HELP (Net) ( ( ( (3 - 38 139) - 190 89 124) 145) (71) 40) Superannuation Supplementation 6, 3, 10, 3, 2, 25, 31, 893 185 - - - 078 589 186 617 392 Receipts from Student Fees and other Customers 356, 86,6 118, 23,7 248, 833, 296, 84,0 185, 566, 296 95 263 67 424 445 794 08 996 798 Dividends Received 1, 1, 1, 3, 7, 2, 18, 20,9 730 439 370 6 370 915 - 912 024 36 Interest Received 5, 7, 2, 9 7, 23,7 9, 8, 13, 30, 176 310 468 63 863 80 296 214 400 910 Payments to Suppliers and Employees (GST Inclusive) (633, (293, (253, (98, (696, (1,975, (647, (320, (491, (1,459, 127) 992) 994) 122) 575) 810) 681) 040) 345) 066) Interest Paid (4, (3, (1, (6, (7, (23,2 (7 (7 522) 607) 528) 019) 580) 56) 55) - - 55) Income Taxes Paid ------Net Cash Inflow/(Outflow) from Operating Activities 125,449 42,592 40,146 28,093 90,060 326,340 129,832 51,281 145,886 326,999

Cash Flows from Investing Activities: Proceeds from Sale of Property, Plant and Equipment 36,4 2 5, 42,3 6 7 181 43 87 - 433 44 137 40 8 85 Proceeds from Financial Assets 29, 2, 2, 35,3 4, 4, 790 613 - 12 951 66 201 - 163 364 Proceeds from Related Party Loans 4 4 - - 90 - - 90 22 28 - 50 Proceeds from Other Investments 2 2 ------30 50 - 80 Payments for Property, Plant and Equipment (55,8 (52,7 (29,0 (28,9 (59,9 (226, (86,2 (30,9 (83,7 (200, 77) 89) 60) 44) 58) 628) 26) 56) 97) 979) Payments for Financial Assets (105, (21, (4, (130, (33, (15, (4, (53,3 086) 632) - - 108) 826) 591) 423) 308) 22) Payments for Related Party Loans ( (2 ------131) (91) - 22) Payments for Other Investments (9, (9, - - - (11) - (11) 386) - - 386)

Net Cash Inflow/(Outflow) from Investing Activities (130,992 (35,365 (28,683 (28,943 (55,682 (279,665 (124,544 (45,552 (87,934 (258,030 ) ) ) ) ) ) ) ) ) )

Cash Flows from Financing Activities: Proceeds from Borrowings 19, 8, 6, 34, - 088 - 828 250 166 - - - - Other Financing Inflows ------Repayment of Borrowings (1, (48, (5 (6, (57,4 967) 841) 79) 095) - 82) - - - - Repayment of Finance Leases (3 (3 - - 82) - - 82) - - - - Other Financing Outflows (6, (6, ------136) - - 136)

Net Cash Inflow/(Outflow) from Financing Activities (1,967 (29,753 (961) 2,733 6,250 (23,698 (6,136 - - (6,136) ) ) ) )

Net Increase/(Decrease) in Cash and Cash Equivalents (7,510) (22,526 10,502 1,883 40,628 22,977 (848) 5,729 57,952 62,833 )

Cash and Cash Equivalents at Beginning of Year 77, 55, 35,7 20,6 63,6 252, 23,5 37,3 197, 258, 767 017 67 84 20 855 94 76 935 905 Effects of Exchange Rate Changes on Cash and Cash Equivalents - - - - 1 1 89 - - 89

Cash and Cash Equivalents at End of Year 70,257 32,491 46,269 22,567 104,249 275,833 22,835 43,105 255,887 321,827 Table 5. Adjusted Statement of Cash Flows for each HEP, 2011 ($'000) Northern Territory Australian Capital Territory Other Total University Tasmania Batchelor Charles Northern Australian University Australian Australian Other All of Institute Darwin Territory National of Capital Catholic Institution Tasmania of University University Canberra Territory University s Indigenou s Tertiary Education Cash Flows from Operating Activities: Australian Government 337, 337, 32, 97, 129, 639, 115 755, 175, 175, 13,336 844 844 109 680 789 832 ,726 558 950 950 ,057 State Government Grants 19, 19, 12, 71, 84, 1, 2, 4, 832, 336 336 923 406 329 983 792 775 - - 649 Local Government Grants 4, ------408 Upfront Student Contributions 9, 9, 4, 4, 10 7, 18 9, 9, 540, 263 263 - 317 317 ,977 365 ,342 189 189 656 OS-HELP (Net) ( ( ( ( 181) 181) - (21) (21) 5 250 255 100) 100) 791 Superannuation Supplementation 1, 1, 12 739 739 - 42 42 - 209 209 484 484 1,805 Receipts from Student Fees and other Customers 113 113 1, 65, 67, 286, 52, 339 72, 72, 8,558, ,602 ,602 897 351 248 519 593 ,112 016 016 904 Dividends Received 1 1 51 51 281 ,914 ,914 - - - ,493 - ,493 - - ,573 Interest Received 6, 6, 29, 29 4 4 33 291 291 850 045 895 280 591 ,871 ,113 ,113 6,151 Payments to Suppliers and Employees (GST Inclusive) (432, (432, (45, (204, (249, (803, (160, (964, (232, (232, (20,332 813) 813) 216) 625) 841) 994) 064) 058) 545) 545) ,435) Interest Paid (14 (1, (15, (126 - - - - - ,586) 207) 793) - - ,455) Income Taxes Paid (1 ------,025)

Net Cash Inflow/(Outflow) from Operating Activities 49,995 49,995 2,563 40,19 42,758 201,50 18,25 219,76 30,10 30,10 3,553,07 5 9 5 4 7 7 9 Cash Flows from Investing Activities: Proceeds from Sale of Property, Plant and Equipment 1 126 649 649 - 371 371 998 162 ,160 16 16 ,090 Proceeds from Financial Assets 92, 92, 581, 581, 73, 73, 2,696, 812 812 - - - 620 - 620 371 371 050 Proceeds from Related Party Loans 1, 1, 60, 500 500 ------829 Proceeds from Other Investments 1, 1, 10 563 563 - 033 033 - - - - - ,744 Payments for Property, Plant and Equipment (69, (69, (1, (35, (37, (269, (62, (332, (92, (92, (3,387, 086) 086) 898) 193) 091) 995) 874) 869) 029) 029) 603) Payments for Financial Assets (77, (77, (622, (622, (2,945, 466) 466) - - - 427) - 427) - - 334) Payments for Related Party Loans ( ( (59 - - - 94) 94) - - - - - ,421) Payments for Other Investments (71 - - - (10) (10) - - - - - ,440)

Net Cash Inflow/(Outflow) from Investing Activities (51,02 (51,02 (1,89 (33,89 (35,79 (309,80 (62,71 (372,51 (18,64 (18,64 (3,570,08 8) 8) 8) 3) 1) 4) 2) 6) 2) 2) 5)

Cash Flows from Financing Activities: Proceeds from Borrowings 28, 46, 74, 632 - - - - - 000 205 205 - - ,173 Other Financing Inflows 7 ------,316 Repayment of Borrowings ( ( ( ( (410 - - - - - 638) - 638) 100) 100) ,658) Repayment of Finance Leases (23, ------303) Other Financing Outflows (49 ------,199)

Net Cash Inflow/(Outflow) from Financing Activities - - - - - 27,36 46,20 73,56 (100 (100 156,32 2 5 7 ) ) 9

Net Increase/(Decrease) in Cash and Cash Equivalents (1,03 (1,033 665 6,302 6,967 (80,93 1,748 (79,18 11,36 11,36 139,32 3) ) 3) 5) 5 5 3

Cash and Cash Equivalents at Beginning of Year 70, 70, 15 75, 91, 141 3, 144, ( ( 3,267 322 322 ,361 893 254 ,699 259 958 177) 177) ,561 Effects of Exchange Rate Changes on Cash and Cash Equivalents ------789

Cash and Cash Equivalents at End of Year 69,289 69,289 16,02 82,19 98,22 60,76 5,007 65,77 11,18 11,18 3,407,67 6 5 1 6 3 8 8 3

4. Appendix

Appendix 1. HEPs Listed in this Publication

New South Wales Western Australia Charles Sturt University Curtin University of Technology Macquarie University Edith Cowan University Southern Cross University Murdoch University The University of New England The University of Notre Dame Australia The University of New South Wales The University of Western Australia The University of Newcastle The University of Sydney South Australia University of Technology, Sydney The Flinders University of South Australia University of Western Sydney The University of Adelaide University of Wollongong University of South Australia

Victoria Tasmania Deakin University University of Tasmania La Trobe University Monash University Northern Territory RMIT University Batchelor Institute of Indigenous Tertiary Education Swinburne University Charles Darwin University The University of Melbourne University of Ballarat Australian Capital Territory Victoria University The Australian National University University of Canberra Queensland Central Queensland University Multi State Griffith University Australian Catholic University James Cook University Queensland University of Technology The University of Queensland University of Southern Queensland University of the Sunshine Coast