2016 Annual Report
Statement of Compliance. Mr Colin Beckett Chancellor of Curtin University Kent Street, Bentley, Perth Western Australia, 6102
Dear Chancellor, In accordance with section 12 (3) of the Curtin University of Technology Act 1966 – Statute No.4 Student Guild, on behalf of the Guild Council, we hereby submit for your information and presentation to Council of Curtin University the Annual Report of the Student Guild of Curtin University of Technology for the year ended 31 December 2016. In accordance with section 12 (2) of the Statute No.4-Student Guild, this Annual Report will be submitted to the Annual General Meeting of the Student Guild on the 31st of May 2017. Yours sincerely,
Liam O’Neill Jemma Chin President General Secretary
On behalf of the Guild Council Dated this 27th day of April 2017
Contents 1.
5.
9.
President’s Report
Student Services
Grant Funding
Page 1
Page 21
Page 37
2.
6.
10.
Managing Director’s Report
The Student Experience
Guild SSAF Projects
Page 5
Page 23
Page 43
3.
7.
11.
2016 Student Representatives
Commercial Activities
Financial Reports
Page 11
Page 27
4.
8.
Education and Representation Activities
Report on progress to the Strategic Plan
Page 17
Page 31
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Page 49
President’s Report
1
CURTIN STUDENT GUILD ANNUAL REPORT 2016
An unprecedented events program, governance reforms, completion of the 2016-2025 Strategic Plan, the highest registration of clubs and societies on record, and an expanding Student Assist case load were among the highlights of the 2016 Curtin Student Guild operations.
The Guild’s hard work was rewarded with an 87% satisfaction rating from students for the second year. One of the greatest achievements of the 47th Guild Council and 48th Guild President, Jake Wittey, was the introduction of the first Guild Strategic Plan since 2005. This plan will shape the Guild for years to come and provide certainty to our staff and operations. The strategic priorities of the Guild are: • Actively represent and advocate on behalf of all students. • Be accountable, transparent, and act in the best interest of all students. • Be inclusive, engaging, and consultative. • Enhance the university experience.
The student experience. In 2016, the Guild delivered an unparalleled student experience. With an allocation of more than $1 million of Student Services and Amenities Fee (SSAF) funding we coordinated events such as O-Day, Pasar Malam, and Clubs Carnival, and introduced the Athena
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Music Festival, the International Cultural Festival, and monthly trivia nights at the Tavern. Grasslands was the largest scale on-campus music festival hosted by the Guild with 3,700 students celebrating the end of semester on the Edinburgh Oval. I want to thank all our events staff for such a stellar year, particularly the 2016 Activities Vice President Jack Martin. My thanks to the 15,500 students who participated in clubs in 2016, particularly those leading them and to our clubs support staff for a brilliant year in which 120 non-sporting clubs were registered. Finally my congratulations to the Electronic Music Appreciation Society (EMAS) for winning Club of the Year for the second year running. The Guild’s key student advocacy and support program, Student Assist, continued to provide financial counselling with funding from the Higher Education Participation and Partnerships Program (HEPPP) as well as servicing 951 academic cases and 96 welfare issues.
had 1,500 enrolments with almost 1,100 first aid certificates awarded. The continuation of free Guild membership resulted in approximately 23,000 student activating their membership and taking advantage of almost $1 million in retail and food and beverage discounts. The Student Representative team focused on “kicking goals for students” in the areas of retention, completion, late assessment penalties, and academic calendar changes As well as achieving an excellent satisfaction rating from students, Curtin Student Guild was rated the top student organisation in the Australian Technology Network in the International Barometer Survey. I believe that being a student at Curtin University has never been better. As General Secretary in 2016 under Jake Wittey’s presidency, I introduced the most comprehensive changes to the Guild’s governance since the days of Voluntary Student Unionism.
Life Hacks, the Guild’s program which provides short courses for students to gain life skills outside the classroom
2
The key changes included: • The Guild’s Regulations and Rules were rewritten. • Reforms to the Guild’s membership system to better ref lect the Curtin University Act 1966. • The abolition of the Mature Age Department and Officer as a result of underutilisation by mature age students. • The introduction of a power of delegation by Guild Council to empower staff to make decisions in the best interest of the Guild without requiring constant oversight from student representatives. • The total reform of the discipline system for Guild Council members and Student Societies that allows any member of the public to report misconduct and have it independently reviewed. • The abolition of the Curtin University Postgraduate Student Association and replacement with the Postgraduate Student Committee.
New management structure. For the first time since 2004 the Guild changed its management structure, reducing nine portfolios to four. The new divisions of the Guild are: • Representation and Governance. • Student Services. • Commercial Services. • Corporate Services. The full effect of these reforms will be felt in years to come. The final step, a new Statute No.4-Student Guild, which is the Guild’s establishing legislation, is very close to completion and will lead to a strong and transparent organisation in 2017. The creation of a new tier of management has presented career development opportunities for staff and will allow us to better serve students. However, despite our success and change, the Guild is in a vulnerable position. The implementation of the SSAF was managed poorly. The Guild’s
3
Moving forward in 2017. lease has less than three years before it expires and we have increasing costs in a difficult economy. These factors contributed to $2,628,695 wiped off the Guild’s balance sheet in 2016. Difficult decisions have had to be made. Our retail area has been consistently losing money, unable to cover its overheads. Our food and beverage business is supporting almost $1 million in Guild discounts. The SSAF is indexed at a very low rate and the Guild Grant isn’t indexed at all. However our costs rise by around 3.5% each year and we don’t have the revenue to match it.
It is my hope that by making some difficult decisions in the past 12 months the Guild will enjoy an era of unprecedented success. The Curtin Student Guild stands out in the nation as a leader in our field. We have dedicated and student-focused staff. I am proud to have served the Guild for an extended period of time. I look forward to Curtin celebrating its 50th Anniversary in 2017 and beyond that a strong and dynamic Guild working as an effective University partner for the next 50 years. As long as we remain relevant to our members’ interests, those members will remain interested in us.
Liam O’Neill 49 th Guild President
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
4
Managing Director’s Report
5
CURTIN STUDENT GUILD ANNUAL REPORT 2016
The Financials. The Guild had current assets of $4,405,538 at the end of 2016. This included cash reserves totalling $1,294,514. With the inclusion of noncurrent assets such as property, plant, equipment, and goodwill, our total asset value was $8,115,141. Our liabilities were $3,224,523 and our net assets or total equity was $4,732,364. The total comprehensive loss at 31 December 2016 was $2,628,698. Included in this were non-cash items such as amortisation and depreciation costs of $1,463,524. In accordance with accounting policies any leasehold improvements are amortised on a straight line basis over the life of the lease term. The Guild’s Head Lease with the University expires on 31 December 2019. This Head Lease incorporates all the facilities at the Bentley campus occupied by the Guild, with the exception of Angazi Café. The lease for Angazi Café expires on 14 July 2017. Over the past five years the Guild has invested considerable funds in our trading facilities to add value to Curtin students. These have been amortised at an accelerated rate due to the impending lease expiration. Once the Guild is successful in renegotiating their leases, which is anticipated to be completed in 2017, we will then be able
CURTIN STUDENT GUILD ANNUAL REPORT 2016
to decrease the rate of amortisation and reduce this expense. Our amortisation expense was $915,443 in 2016. Our depreciation costs were $515,507. In line with accounting policies any capital purchases are depreciated on a straight line basis over the anticipated useful life of the asset. In an effort to provide students value for their SSAF contributions, the Guild has undergone significant asset procurement. This has resulted in high levels of depreciation costs as we have capitalised these assets. Additionally, the Guild addressed previous underspending of the SSAF. Prior to 2016, the Guild did not spent its entire SSAF allocation and the funds were recognised as consolidated income and resulted in inf lated surpluses. In 2016, the Guild’s SSAF allocation was $2,736,428 and our annual spend of SSAF received and prior accrued SSAF surplus was $3,630,428. The overspend of $894,298 and a contribution to the University’s Vibrant Campus SSAF initiative did not have ref lective income within the calendar year but reduced future commitments to prior underspent SSAF.
(with a corresponding expense to the SSAF overspend and contribution to the University’s Vibrant Campus initiative) and a grant from the University of $750,000 all contributed to the Guild’s revenue stream. Together with other incidental income totalling $23,245 our annual revenue streams came to a total of $18,316,630. The Guild’s expenses included $1,463,524 for occupancy expenses inclusive of our amortisation expense, distribution expenses of $1,169,823, employee benefits for our 200 plus staff to the value of $9,567,156, cost of sales expenses of $5,725,861, marketing expenses of $2,112,715, administration expenses of $382,583, and finance costs of $81,705. Our total expenses for 2016 were $20,945,325.
The Guild’s 2016 revenue was derived from a number of sources. Our trading services contributed $13,586,715. Other operating activities such as membership income, commercial rentals, HEPPP funding, and interest on investments generated an income of $586,241. SSAF funding of $3,370,429
6
Representation. The cost of providing our representation services in 2016 was $923,541. We received SAFF funding of $458,817 for this service. Additionally, there was incidental income of $47,747 generated by the division. The balance of expenses was $416,977. This division was also the beneficiary of University Grant funding. Wage and honoraria expenses represented 66% of expenses of our representation department. This included the employment of secretariat and research staff who provided professional support to the Guild Council and its boards and committees. The Curtin Student Guild’s honoraria expense also covered representation services provided at the WA School of Mines (WASM) Student Guild. As well we provided financial support of $23,556 for WASM Student Guild’s operating expenses. Other significant expenses included the Guild’s affiliation and travel costs to national bodies and the hosting of Queer Collaboration conference, which were $116,262.
Member Benefits. SSAF funding of $2,066,007 and HEPPP funding of $56,166 assisted the Guild with the $3,567,461 cost of member benefits in 2016. Expenses were offset by associate membership fee income of $20,257, marketing income of $96,263, services rendered income of $58,335, and other income of $107,118. The balance of providing these services was $1,163,315. This area was also the beneficiary of University Grant funding. In 2016, there were $986,824 of discounts provided to Guild members. Through resolution of the 2015 Annual General Meeting, Curtin students have been eligible for free full Guild membership which has entitled them to the discount structure imposed by the 2016 Guild Council. In future years the Guild will need to consider whether the discount is required and if so at what level. Wages represented 39.6% of the expenses of the member benefits department including employment of management, Student Assist counsellors, marketing, graphic design, events, and reception portfolio staff.
The wage expense also covered a counselling service provided at Kalgoorlie Student Guild as well as additional financial support of $29,235. A strategic priority for the Guild is enhancing the University experience. This expenditure has three primary focuses: event delivery, club administration and support, and upskilling our students. Our event delivery expenditure of $637,147, in addition to wages, covered activities including the Athena Music Festival, Guild Ball, share bike facility, Multicultural Week, O Week, O Day, Guild Day, and regular activations and entertainment throughout the campus. Our club support and administration expenditure of $215,303, in addition to wages, included various club grant funding to the value of $161,035 and software upgrades of $37,253 for the management and oversight of clubs and their resources. Our upskilling initiative, Life Hacks, cost $95,942. This initiative delivered 20 different courses each semester. and subsidised first aid courses for students.
The cost of engaging the Western Australian Electoral Commission to oversee the election of student representatives on the Guild’s behalf was $31,308.
7
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
8
9
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Commercial division. Our café and function businesses generated revenue of $9,687,596. They raised other revenue of $156,014 inclusive of SSAF funding. Our cost of sales was $3,119,104, Guild discounts were $770,256, operational wages totalled $4,016,048, and other expenses were $689,367. The fixed costs associated with operating these businesses were $1,091,778.The surplus generated by our catering business was $927,314. The profits generated were directed towards the running costs of our important representation and advocacy services. The Tavern generated gross sales of $1,369,850. Other revenue, predominantly made up of ticket sales and SSAF funding, contributed an additional $430,439. Our incurred expenses included cost of sales of $495,904, Guild discounts of $114,120, operational wages of $542,586 and other expenses of $548,851. The fixed costs associated with operating this business were $339,213. At 31 December 2016, the deficit incurred by the tavern operation was $12,145. It must be noted that the tavern provides some services that are not of a commercial nature such as the provision of club movie nights. Our general retail services continue to be of the most concern to the Guild and its ongoing viability. The retail services provided currently do not provide a surplus to the Guild, and we will consolidate our offerings in 2017 in an effort to alleviate the leakage. The Copy and Design Centre continued to underperform and there will be
CURTIN STUDENT GUILD ANNUAL REPORT 2016
significant changes to the operation in the future. It generated revenue of $391,007, but incurred cost of sales expenses of $129,772, operational wages of $193,776, Guild discounts of $27,894, other expenses of $8,415, and fixed costs of $178,038. The operating deficit of this operation was $91,060. Other retail operations- BookEnds the second hand bookshop, Concept/ IT Works, The Bubble Lab and The Spot- generated revenue of $1,519,165. Expenses included cost of sales of $976,542, operational wages of $422,056, Guild discounts of $74,284, other expenses of $81,207, and fixed costs of $254,899. The operating deficit of these businesses was $215,530. Our commercial tenants’ rental income and vending commission payments from our third party rental/ licence agreements generated a net contribution to the Guild of $232,492. Currently the Guild’s commercial operation expenses do not subscribe to industry benchmarks. Our cost of sales across our catering and retail business are too high and our wage costs as a percentage of sales are too high as well. This is an area of focus as we move forward.
Organisational and Administration Division. The Guild’s financial, information technology, human resources, health and safety, risk management, governance and compliance services cost $1,910,011 in 2016.
Significant expenses incurred by division included wage expenses of $1,251,406, SSAF underspend contribution of $894,298, amortisation of $915,443, depreciation of $548,080, SSAF collection fees of $120,000, and other expenses of $259,422. Income was generated from the University Grant of $750,000, internal rental of $734,191, SSAF coverage of $101,885, capitalisation of SSAF for asset procurement of $404,917 and other revenue of $87,647.
Significant Expenditure. As the Guild prepares for the next 50 years we have undertaken essential and significant reform. This has come with considerable cost. We completed a governance overhaul that required external counsel. We undertook our first round of change management with the resultant expenditure associated with reshaping our workforce. We developed a branding and retail strategy through the assistance of external consultants. All these initiatives combined were extraordinary expenses but necessary to future proof our organisation. Additionally there was significant expense applied to the acquisition of new financial reporting software to allow us to better manage our significant business interests.
Brent Penberthy Managing Director
10
2016 Student Representatives Executive
GUILD PRESIDENT Jake Wittey
EDUCATION VICE PRESIDENT Sarah Franz
ACTIVITES VICE PRESIDENT Jack Martin
GENERAL SECRETARY Liam O’Neill
HEALTH SCIENCE Kieran Gulvin
HUMANITIES Lewis Whittaker
Faculty Representatives
BUSINESS Priya Raj
11
SCIENCE & ENGINEERING Noni Elliott Hobbs
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Equity Departments
INTERNATIONAL STUDENT COMMITTEE PRESIDENT Natasha Woenarso
WOMEN’S OFFICERS Jayne Kazich & Saraya Martin / Amelia McDermott
Councillors
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CUPSA PRESIDENT Md. Aminul Haque /Forhad Rabbi
STUDENTS WITH DISABILITIES OFFICER Joshua Mackenzie
QUEER OFFICERS Logan Ward & Imogen Charles
MATURE AGE OFFICER Jordan Piggott
INDIGENOUS OFFICERS Madison Ludwig & Sharleah Ramirez
Ruochen Han / Rebecca Patterson Hollow / Alicia Gibbs / Catlin Egloff Barr / Jason Giancono / Matthew Curry / Henry Clarkson / Jordan Piggott / Grace McDonald / Adam Parsons / Venuri Lisboa-Pinto / Helman Alfonso
12
13
CURTIN STUDENT GUILD ANNUAL REPORT 2016
The Guild Council is the governing body of the Curtin Student Guild and its powers are set out in Curtin University of Technology Act 1966 - Statute No.4 Student Guild.
The Guild Council has “the entire control and management of the affairs and property of the Guild and may act in all matters concerning the Guild in such manner as appears to it to be best calculated to promote the interests of the Guild and the enrolled students.” The Guild regulations provide for the Guild Council to be made up of 25 members who are elected annually by the enrolled students of Curtin University. In 2015, The Guild Council met on 12 occasions. The Universities Legislation Amendment Act 2016 was proclaimed in effect as of the 2nd of January 2017. In accordance with this act there was a change to the name of the University and consequentially the Student Guild. As such the legal name of the Guild is “the Student Guild of Curtin University” with “of Technology” having been omitted. Curtin Student Guild remains the trademarked name of the Guild and the name that we operate the majority of our business under. Further as part of this act there were a number of amendments to Sections 45 and 46 which relate to the Amenities and Services Fee. Regardless of the amendments Section 45(3) of the Curtin University Act 1966 proscribes that at least 50% of any amenities and services fee must be paid to the Student Guild.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Key governance related activities considered by Curtin Student Guild in 2016. Recommendations to the University Council of the following: • Amendments to the Curtin Student Guild Regulations Approval of the following: • The 2016–2025 Strategic Plan • The Student Guild Rules 2016. • Major policy revisions including matters relating to the behavior of representatives, conferences and travel and reporting. • Revisions to the 2016 to 2018 Student Services and Amenities Fee Expenditure Plan. • The budget for 2017.
• Extended leases for Guild Tenants. • A referendum to be held in conjunction with the 2016 Guild General Election. • A new default student society constitution. • Major change management to the Guild’s structure. • Delegations and matters reserved to the Guild Council. • The Guild’s Governance Statement. • A total restructure of the Guild’s Committee system.
14
University Boards and Committees In 2016 Student Representatives sat on the following University Boards, Committees, Groups, Panels, and Working Parties. GUILD PRESIDENT Jake Wittey
EDUCATION VICE PRESIDENT Sarah Franz
GUILD SECRETARY Liam O’Neill
Academic Board
Academic Services Committee
University Council
Curtin Student Advisory Forum
Courses Committee
Curtin Student Advisory Forum
Academic Services Committee
Curtin Community Safety & Security Action Group
Legislative Committee
Curtin Community Safety & Security Action Group Guild University Liaison Committee International Committee Student Housing Committee Student Services and Amenities Fee Expenditure Advisory Committee University Health and Safety Committee Monthly meetings with the Vice Chancellor and Deputy Vice Chancellor, Academic Bi-Monthly meetings with the Academic Registrar Student Retention Taskforce Academic Board
Guild University Liaison Committee Student Services and Amenities Fee Expenditure Advisory Committee University Teaching and Learning Committee Bi-Monthly Meetings with the Academic Registrar University Admissions Committee
ACTIVITIES VICE PRESIDENT Jack Martin
Curtin Extras Committee Award Review Committee Guild University Liaison Committee Student Services and Amenities Fee Expenditure Advisory Committee Board of Discipline
CURTIN BUSINESS SCHOOL Priya Raj Curtin Business School Strategic Review Board
Guild University Liaison Committee Student Services and Amenities Fee Expenditure Advisory Committee
15
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FACULTY OF SCIENCE & ENGINEERING Noni Elliott Hobbs University Council Curtin Student Advisory Forum Faculty of Science and Engineering Teaching and Learning Committee Faculty of Science and Engineering Courses Committee
FACULTY OF HUMANITIES Lewis Whittaker
Faculty of Humanities Teaching and Learning Committee Faculty of Humanities Courses Committee
Academic Board
Faculty of Humanities Student Discipline Panel
Curtin Business School Strategic Review Board
Faculty of Humanities Health and Safety Committee
Curtin Student Advisory Forum
School of Science Teaching and Learning Committee Faculty of Science and Engineering Student Discipline Panel
INTERNATIONAL STUDENT COMMITTEE PRESIDENT Natasha Woenarso
Academic Services Committee FACULTY OF HEALTH SCIENCES Kieran Gulvin
CURTIN UNIVERSITY POSTGRADUATE STUDENT ASSOCIATION PRESIDENT Aminul Haque / Forhad Rabbi
Curtin Business School Strategic Review Board
Academic Services Committee
University Graduate Studies Committee University Research and Development Committee University Teaching and Learning Committee
QUEER OFFICERS Logan Ward & Imogen Charles
Curtin Student Advisory Forum Curtin Medical School Advisory Board Faculty of Health Sciences Academic Board Faculty of Health Sciences Teaching and Learning Committee Faculty of Health Sciences Student Discipline Panel Faculty of Health Sciences Inter-professional Education Committee
International Committee
LGBTIQ+ Advisory Committee
Bi-Monthly meetings with the Academic Register
INDIGENOUS OFFICERS Sharleah Ramirez & Madison Ludwig Curtin Indigenous Policy Committee
STUDENTS WITH DISABILITIES OFFICER Joshua Mackenzie
Disability, Access and Inclusion Plan Implementation Committee
CURTIN STUDENT GUILD ANNUAL REPORT 2016
16
Education and Representation Activities
17
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Major campaigns. Save Our Voice campaign
Queer Collaborations
Student Retention
In a major victory for student representation, the Save Our Voice campaign mobilised university guilds across WA, successfully retaining elected student representation on University Councils and a legislated 50% share of the SSAF.
The national Queer Collaborations conference was hosted by the Guild at Curtin University. Delegates from student organisations Australia wide attended a range of workshops and plenaries centred on Queer representation and advocacy. The conference proved a great opportunity to showcase Curtin University and Perth, with delegates applauding the Guild’s management of the event.
One of the key KPIs of the President in 2016 was working closely with the University to develop Student Retention strategies. The Guild made a number of representations to working parties and committees and completed a formal submission focusing on the role of the Guild in ensuring the retention and completion of students.
The Curtin Student Guild met with members of Parliament and secured support from WA Labor and the Nationals for changes to the Universities Legislation Amendment Act 2016. As a result, Premier Colin Barnett moved amendments to the proposed legislation that ensured a funding guarantee to Student Guilds.
Rights at Work campaign The Curtin Student Guild piloted a Rights at Work campaign to equip students with knowledge to avoid being exploited in the work place. The campaign was supported by WA trade unions and there were free workshops for students scheduled with union reps from hospitality and retail sectors. The Guild expects the program to continue in 2017.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Academic calendar Rad Sex and Consent Week Rad Sex and Consent Week continued in 2016, with a broad range of workshops and presentations about sexual health and sexuality. This event has become an important part of the Guild’s calendar.
The Guild made a submission to Curtin’s review of the Academic Calendar in which significant changes were contemplated by the University including intensive six week study blocks throughout the year. As a result of the Guild’s representations, it is expected that while changes to the placement of the semesters will be made to better accommodate a summer school, the University will not introduce radical change to the Academic Calendar.
18
Department Representation. Faculty Humanities The 2016 Humanities Representative reviewed unusual fees in the School of Education and changes to the structure of the Bachelor of Arts.
Equity International Student Committee The International Student Committee introduced new events including the Diversity Festival as well as a Rottnest trip and Multi-Cultural week.
Science and Engineering
CUPSA
The 2016 Science and Engineering Representative was involved in responding to significant student complaints within the faculty regarding teaching quality and fieldwork.
The Curtin University Postgraduate Student Association was dissolved at the end of 2016 after a number of difficult years and replaced by the Postgraduate Students Committee.
Curtin Business School The Curtin Business School President’s Committee was formed as a precursor to the Faculty Student Advisory Committees.
Queer Department The Queer Department continued an expanded events line up with Queers on the Lawn as well as monthly department events. The Queer Officers continued to advocate for students on the LGBTIQ+ Advisory Group.
Health Sciences The 2016 Health Sciences Representative worked on the foundation of the Curtin Medical School, responded to difficulties in the physiotherapy course, and was involved in establishing a study and survey about student perspectives on group assignments.
19
Women’s Department The Women’s Department expanded its campus presence with the Athena Music Festival and other smaller department events. The 2016 edition of the Athena Magazine was released during O-Week 2017.
Indigenous Department After many years of neglect, the Indigenous Department was revived in 2016 under new leadership. A team was organised to attend the National Indigenous Tertiary Games in July 2016. Yokai events continued and the department successfully raised its profile among the campus community.
Mature Age Department After much deliberation the Guild closed the Mature Age Department because of a lack of engagement and interest from mature age students. This portfolio now falls within the responsibilities of the Education Vice President.
Students with Disabilities Department The Students with Disabilities Department was created in 2016. The department engaged with Counselling and Disability Services, particularly with the Disability Access and Inclusion Plan Implementation Committee.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
20
Student Services
21
CURTIN STUDENT GUILD ANNUAL REPORT 2016
The Guild provides a range of services that are integral to student support and retention as well as assisting Curtin’s administration to provide diverse and memorable experiences.
During 2016, Student Assist saw a total of 1,134 new cases which represented an 18 % increase in casework on the previous year. Kalgoorlie Student Assist The Guild adapted its services to meet the needs of the WASM with presentations, workshops, and activities for students during orientation. Daily support for Kalgoorlie students mirrored those provided at Bentley campus and included 45 simple walk in enquiries, 45 significant cases, and 40 phone enquiries. Tax Help The Guild became a temporary tax-help centre for three months as Curtin volunteers participated in the Australian Tax Office (ATO) initiative to assist students comply with their tax oblations. The volunteers, who received training from the ATO, undertook 676 appointments to assist students with their tax lodgement. Life Hacks The Guild launched a new online service to support the Curtin Life Hacks program, enabling students to view and enrol in extra-curricular courses, programs, and workshops. More than 1,500 students completed a course or workshop via the Life Hacks program in 2016. Courses were designed to help students navigate life “outside the classroom” and included cooking nutritional meals on a budget,
CURTIN STUDENT GUILD ANNUAL REPORT 2016
adult swimming lessons and budgeting tips. Heavily subsidised First Aid certification was offered to 1,087 students for only $35 per person. An increasing number of schools and faculties at Curtin directed their students to the Guild to undertake their training, with some organising schoolspecific training days for their cohort at the reduced price. Legal Assist 71 cases were recorded for the year with the majority referred to our legal assist partner. The remainder were referred to more specialist legal services including Youth Legal Service, The Humanitarian Society and Legal Aid. Reboot The Reboot computer recycling initiative offered a new laptop loan program which was fully subscribed during many periods in 2016. Additional laptops were purchased bringing the program capacity to 18. Financial assistance Student Assist provided emergency aid to 96 students mainly in the form of food parcels with 40% of aid recipients mature aged students and 30% international students. The Childcare Assistance Grant received 17 applications. Eight grants were awarded, six were declined as the students did not meet the eligibility criteria of an occasional
and unexpected childcare need and three applicants were asked to provide additional information to support their application, but failed to respond. The Bookshop Grant (BSG) program provided grants to eligible undergraduate Curtin students in financial need to purchase course related materials from the Co-Op Bookshop. The BSG program was reduced significantly in 2016 as funding from the University was offered for semester one only. As a result there was an allocation of 302 $200 grants in semester one and 55 $150 grants in semester two. Postgraduate Mentor Program The Postgraduate Mentor Program (PMP) aimed to offer all new postgraduate students access to a peer mentor for the first semester of their degree. By the end of 2016, 140 students had participated as mentees. They were supported by 53 mentors. 25% of participants were Higher Degree by Research (HDR) students. Many of the students involved—both mentees and mentors—indicated that they would be volunteering in the program in 2017. Following participant feedback, the program will be modified in 2017 to include a more streamlined application process.
22
SSAF funding has greatly benefited clubs and provides direct and indirect support to ensure clubs can operate and hold successful events and activities, as well as being accountable and compliant.
In 2016 there was: • Improved support and assistance for clubs, with an increase from one full time staff member to two. • A measurable diversification of club events through specialised and targeted grants. • Since the introduction of the funding changes, the Guild has increased its number of registered clubs to more than 120, a 50% increase in four years and the highest number since SSAF.
Events. • Making students feel welcome into the University environment.
• Additional funding allowed clubs to grow their presence on campus making clubs more vibrant and visible.
• Demonstrating the Guild as an effective support service provider as well as an integral part of campus life. This is particularly evidenced through the increased contributions and collaborations from the Guild within key University events, such as O Week.
• An uptake of the Guild’s targeted merchandise grant, allowing clubs to buy t-shirts or other clothing for club executives or members to promote club culture on campus.
• A measurable diversification of club and Guild events, including cultural events, alcohol-free events, all-ages events, academic events, and equitygroup-targeted events.
• Wider involvement and engagement of clubs.
• Wider involvement and engagement of clubs, including improved club collaboration within Guild events (arts clubs contributing to Arts Fair, electronic music club providing DJ services at Guild/Tav events).
• More than 15,500 students were involved with clubs on campus.
• A significant increase in club events and activities on and off campus. • Increase in grant applications and funding due to greater communication and promotion to clubs. • Clubs were managed more efficiently through an online clubs portal.
23
• Reduction in excessive paper use by moving almost entirely online with all club administrative processes, including grant application forms, event management plans and registration forms.
• “One Event per day” trialled to mixed success. • Creation of a more vibrant and inviting atmosphere for students on campus. • Contributing to a safer campus at night with increased numbers of students on campus for evening events such as Queers on The Lawn, Twilight Markets and Pasar Malam. • Increased funding has removed a focus on cost recovery and allowed the Guild to focus on maximising the event quality. • Continued growth for the f lagship “clubs” event of the year, Clubs Carnival. • Continued growth of orientation events, including O Day, O Week, and Guild Day.
• A significant increase in club events and activities on and off campus. • A significant increase in Guild events throughout the year.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
The Student Experience
CURTIN STUDENT GUILD ANNUAL REPORT 2016
24
Special events.
The Guild hosted the following events to contribute to the student experience:
25
Orientation Week
February 22
Sci-Fi Week
May 2
Orientation Day
February 24
Day Markets, May the Fourth
May 4
Welcome to the Jungle
February 29
Day Markets, Health Sciences Fair
May 11
Queers On the Lawn
March 4
Stress Less Week (various daily activations)
May 23
Athena Music Festival
March 11
Market Day
May 25
Life Hacks Week
March 14
G Music
May 25
Clubs Carnival, Day Markets
March 16
May 30
Night Markets
March 17
Procrastination Week (various daily activations)
World Poetry Day, Arts Week
March 21
Market Day
June 1
Easter Activation
March 22
G Music
June 1
Arts focused Day Markets
March 23
June 8
Easter Egg Hunt
March 24
Exam Escape (various daily activations until the end of exams)
Street Arts (Buskers) Week
April 4
Winter Wonderland Welcome (various daily activations)
July 25
Day Markets, G Music
April 6
Guild Day WASM
July 29
Travel Fiesta, G Music, Markets
April 13
Guild Day Bentley
August 5
Day Markets
April 27
International Friendship Day
August 8
CURTIN STUDENT GUILD ANNUAL REPORT 2016
National Science Week (various daily activations)
August 15
Club Olympics
August 17
Book Week (various daily activations)
August 24
Rad Sex & Consent week (various daily activations/ events)
September 5
RUOK Day
September 8
Spring week (various daily activations)
September 12
Health & Safety Expo
October 5
Guild Ball
October 7
Mental Health Week various daily activations)
October 10
Multicultural Week (various daily activations)
October 17
Pasar Malam
October 23
Yokai
October 26
Exam Escape
November 7
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Special ongoing initiatives.
Guild Night Markets in the first 5 weeks of semester. Weekly Grill the Guild free barbecue. Fortnightly Free Wellbeing Breakfast. Monthly Queer Department Meet and Greet. National Campus DJ Comp. Monthly free movie nights. CUPSA Postgraduate Open Door Society events.
26
Commercial Activities
27
CURTIN STUDENT GUILD ANNUAL REPORT 2016
The Guild’s Commercial Division provides essential services to students and creates a sense of community on campus with cafes, function catering, retail outlets, and the iconic Curtin tavern.
The Guild’s outlets faced significant challenges in 2016 with strong competition on and off campus. The introduction of 19 food truck vendors has had a significant impact. Another challenge is our commitment to servicing the Curtin community throughout the entire year including tuition free periods and semester breaks. During those times our outlets operate at a loss. The Guild relies on periods of high activity to offset the seasonal fluctuation, but the increase in on-campus competition has reduced this opportunity.
Copy and Design Centre
Tavern
While the Guild’s Copy & Design Centre remained a convenient print and finishing shop for the campus community, it experienced a challenging year with university competition, changing technology, and shifting consumer demand for services.
The Tavern remained an integral gathering place for students and staff with weekly meal deals attracting lunch time customers despite competition from market stalls and food trucks. The introduction of the Smokehouse menu range provided the campus population with a new food offer.
Demand for printing and binding declined in some areas as more students submitted their assignments electronically. Strong demand remained for selfservice copy/printing, large format poster printing, and for alternatives to the standard A4 and A3 digital prints – f lyers, booklets, stickers, banners, business cards, and bookmarks. The Spot, Concept Store, IT works, and Second Hand Bookshop These areas underperformed in 2016 with weak sales and lacklustre product lines. The Guild will consolidate these offerings in 2017 in an effort to establish a model that provides a range of competitively priced goods that meet student expectations.
Gross sales were maintained from 2015, though with minimal growth. Although expenses were monitored closely, it wasn’t enough to provide the additional profit to reach budget. Open Mic Comedy was a drawcard, and Karaoke and theme nights were introduced to expand the night market and replace the weekly Student Nights which had declined in popularity. Large scale Tavern events were often at capacity and alternative spaces were sourced to accommodate demand. The Agora courtyard offered space for an additional 600 people at the end of Semester One event, and the inaugural Grasslands festival held on Edinburgh Oval at the conclusion of Semester Two attracted 4,000 people. An all-weather solution for the beer garden through a partnership with the University did not eventuate, with the Guild left to assess other solutions.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
28
Cubby After many years of planning and negotiation with Curtin University, the Cubby was opened in March 2016. Its versatile design made most of the outdoor environment at the Vege Patch (Building 210) allowing it to be open to the outdoor space during service but secure overnight. The Cubby operates as a one stop beverage shop with squeezed to order juices and large range of iced coffees and frappe beverages. SushiMe SushiMe quickly became a campus staple after it was introduced in 2016. The freshly made Guild range of SushiMe hand rolls, sushi packs, and Nigiri pieces was an immediate hit and sold more than 120,000 units by the end of 2016. Halal Snack Pack The Basement Café team introduced Halal Snack Packs in Semester Two, selling nearly 13,000 by the end of the year.
29
Cold Brew Cold Brew became a large part of the iced beverage offering across campus since its small scale introduction at Concept Café. The café has been producing up to 20 litres of cold brew a day which is distributed to other sites on campus and forms the base of most of our cold coffee beverages. Kirribilli Catering Kirribilli Catering was a finalist at the Savour Awards for Excellence.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Top sellers at a glance.
Coffee (of course). Almost 1 million shots of espresso were drawn in 2016.
Nigiri 3,308
Hot Meals 105,665
Flaming Chicken Wings 85,619
Homemade Cinnamon Donuts 107,625
Handrolls 36,908
Sushi Packs 80,600
(SushiMe)
CURTIN STUDENT GUILD ANNUAL REPORT 2016
30
Report on progress to the Strategic Plan
31
CURTIN STUDENT GUILD ANNUAL REPORT 2016
In 2016, the Guild developed its first Strategic Plan in over a decade. This student focused plan is based around four strategic priorities: • Actively represent and advocate on behalf of all students • Be accountable, transparent, and act in the best interest of all students • Be inclusive, engaging, and consultative • Enhance the university experience There are numerous day to day activities that support the plan. The best barometer of the success of these activities is the 87% satisfaction rating from students. As well as day to day activities, the Guild has focused on a number of core areas and key changes. Here is a summary of the highlights from 2016.
Actively represent and advocate on behalf of all students Representation and advocacy is an inherent aspect of the Guild’s charter. The advancement of student issues on a University and community level ensures the best interests of students are preserved. In 2016 the Guild: • Developed and implemented a branding strategy to ensure that we have a strong identity and presence. • Engaged the University in the areas of retention completion, late assessment penalties and academic calendar changes to provide better outcomes for students • Serviced 951 academic cases via Student Assist.
• Finalised the Strategic Plan. • Established values and guiding principles for our staff and elected students with all of our decisions and actions being assessed against this ethos. • As part of Transforming the Guild, we designed and implemented a new management structure reducing nine portfolios to four to create a simpler, faster, accountable and smarter work environment.
• As part of providing an inclusive and supportive environment for a diverse range of students through our equity departments we hosted the Queer Collaboration conference.
• Reformed governance to ensure that appropriate structures and processes are in place to safeguard that the delivery of benefits to members in line with the Guild’s values and other requirements (e.g. legal requirements).
• Student Representatives participated in more than fifty different committees and working parties throughout the University.
• Developed a Retail Strategy that will involve consolidating our retail offerings in 2017 to ensure their ongoing financial viability.
• Work by Student Representatives resulted in no increases to Parking Fees in 2017.
• Developed new medium term Operational Business Plans.
Be accountable, transparent and act in the best interests of all students. The Curtin Student Guild will act with integrity in a transparent manner to advance the interests of its beneficiaries. The Guild prides itself
CURTIN STUDENT GUILD ANNUAL REPORT 2016
on acting in an ethical manner to best serve students, staff, and the wider community. In achieving this, in 2016 the Guild:
• Implementation of a complaints management process. • Introduction of an Office Bearer Appointment Agreement. • Publication of meeting minutes on the Guild Website.
32
Be inclusive engaging and consultative As a member- directed organisation, our success is underpinned by consultation, independence, and inclusivity. A diversity of input best positions the Guild as a service provider and a strong representative body. To this end, the Guild has: • Provided close to $1 million in Guild discounts to members on food and beverages • Continued service from our outlets to the Curtin community throughout the entirety of the year despite operating at a deficit during periods of student absence. • Engaged the university on the Greater Curtin Master Plan.
Enhancing the student experience. We recognise that the university experience extends beyond the classroom. A rich university experience improves students’ wellbeing, as well as their overall satisfaction with Curtin University. In line with this belief, the Guild has:
33
• In collaboration with the university, redeveloped the Vege Patch to improve the outdoor seating and provide a coffee pod. The redevelopment also aligns with the University’s Master Plan. • Engaged staff throughout the Transforming the Guild project. • Engaged the University to ensure that the SSAF is directed to
• Offered free full Guild membership which includes member discounts – over 23,000 students activated their membership. • Ran a large number of major events including the Athena Music Festival, Guild ball, Pasar Malam, Clubs Carnival, Multicultural Week, O Week, O Day, Guild Day and Grasslands.
activities and amenities that create the maximum benefit for students. • Undertook regular Grill the Guild initiatives in order to engage and seek feedback from our members. • Increased access to our equity services/officers. • Many of our campus activations tackled equity issues experienced by our students.
• Built Club HQ – specific amenity for club use • Introduced the share bike facility • Supported the participation of more than 15,000 students in 120 non-sporting clubs • Established the Life Hacks website for online enrolment to life skilling short courses.
• Coordinated campus activations and events throughout the year.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
34
35
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Statement of Compliance. Mr Colin Beckett Chancellor of Curtin University Kent Street, Bentley, Perth Western Australia, 6102
Dear Chancellor, In accordance with the SSAF Expenditure and Guild Grant Agreement, we hereby submit for your information and presentation to Council of Curtin University the Guild Grant expenditure report of the Student Guild of Curtin University of Technology for the year ended 31 December 2016. Yours sincerely,
Liam O’Neill Jemma Chin President General Secretary
On behalf of the Guild Council Dated this 27th day of April 2017
CURTIN STUDENT GUILD ANNUAL REPORT 2016
36
Grant Funding
37
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Student representation on University committees
Support for recreation activities and related events
Orientation Week activities and services
The Guild’s student representative body consists of more than 35 students representing their peers at the University and faculty level as well as specific equity groups (International, Postgraduate, Queer, Women’s, Indigenous, Mature Age, and Students with Disabilities).
The Guild ran a diverse range of classes to give students practical skills as well as a much needed break. Throughout the year the Guild coordinated a range of free/cheap courses including Motorcycle Maintenance, Resume Assistance, Interview Skills, Budgeting skills, Overcoming homesickness, Barista training, and Introductory Bar service.
O-Day was attended by 10,000 students and featured more than 50 stalls promoting Guild Clubs, Life Hacks, giveaways and discount coupled with live entertainment. Guild Day in semester two enjoyed an attendance of 8,000 students and featured more than 120 stalls. Additonally:
Student Representatives attended more than 400 meetings in 2016 including senior University committees such as the Academic Board to faculty and school working parties. Student advocacy and representation services (Student Assist) More than 1,165 hours were spent in direct face to face consultation with students. Bookshop Grants continued in conjunction with University scholarships. These were an area of concern as a result of the introduction of the Co-Op Bookshop and the fragile nature of current funding streams. Student Assist staff attended a national conference for student support staff.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Support for clubs and societies including grants and sponsorship The Guild continued to provide administrative support, funding and assistance to registered clubs across Curtin. Much of the funding has increased through the implementation of SSAF. As well other funding sources are used to provide a wide range of grants, sponsorships and events. • During 2016, 115 clubs registered with the Guild.
• The ISC Rottnest tour replaced the Explore Perth tour. • Explore tours operated twice daily during O-Week in both semesters for new students. • Grok articles for new to Curtin students. • Start-Up Party the Friday of O-Week. • The Guild operated as a major service provider to the University’s Orientation program.
• More than 15,500 students were members of clubs.
• The Guild Diary featuring essential Curtin information was available for students.
• O Day and Clubs Carnival successfully promoted clubs.
• Guild App G-Diary assisted students with orientation information.
38
Specific additional support for student equity activities and initiatives During 2016 the Guild: • Grew its ongoing support of the equity departments, including the inclusion of events such as Queers on The Lawn, Athena, Mature Age Orientation mixer and Diversity Fest. • Actively promoted the equity space, including provision of free breakfast cereal. • Supported a range of equity events including International Women’s Day, Yokai, as well as collective meetings and movie nights. • Provided professional support to assist in promotion and running of events and initiatives.
Specific additional support for International Onshore student activities and initiatives • Ongoing support for the ISC. • The following was conducted in 2016: ISC Rottnest Trip, AMS Mamak Night, Eid Lunch, Diversity Festival, Pasar Malam, Caversham Wildlife Park Trip, supported the International Student Sport Day at the Stadium.
Student publications and information • Grok -6 Issues. • The new Guild App. • Student Assist “Terminated” Guide and You Tube video. • Student Assist information f lyers. • Managing “your student dollar” info booklet
• Free migration workshop.
• Student Assist fact sheets.
• Strong support for international Guild clubs.
• Welcome to the Guild booklet.
• All ages movie screenings.
• Guild Diary. • Guild Rec booklet. • Direct mail letter to students. • Fortnightly G-News enewsletter. • Campaign posters promoting events and student activities. • Regularly updated news and events on the Guild website. • Regular member updates via social media channels. • Increased targeted social media for equity groups and international students.
39
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Grant funding allocation for activities and services in 2016.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
40
41
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Statement of Compliance. Mr Colin Beckett Chancellor of Curtin University Kent Street, Bentley, Perth Western Australia, 6102
Dear Chancellor, In accordance with the SSAF Expenditure and Guild Grant Agreement and Section 9(b)(ii) of Statute No.27-Student Services and Amenities Fee, we hereby submit for your information and presentation to Council of Curtin University the Student Services and Amenities Fee expenditure report of the Student Guild of Curtin University of Technology for the year ended 31 December 2016. The Student Guild of Curtin University of Technology spent revenue from the Student Services and Amenities Fees strictly in accordance with the Higher Education Support Act 2003 and the Administration Guidelines made under the Act. The fee was spent strictly in accordance with the Act and only on services and amenities specified in subsection 19-38(4) of the Act. Yours sincerely,
Liam O’Neill Jemma Chin President General Secretary
On behalf of the Guild Council Dated this 27th day of April 2017
CURTIN STUDENT GUILD ANNUAL REPORT 2016
42
Guild SSAF Projects
43
CURTIN STUDENT GUILD ANNUAL REPORT 2016
SSAF funding supported the Guild’s engagement with Curtin students through advocacy and support services.
Representation The successful delivery of SSAF projects was a direct result of the hard work of the Guild’s professional staff and representation divisions. The Curtin Student Guild’s Project Research Officer and Student Administration Officer worked to improve the Guild’s efficiency, governance and transparency, as well as providing insight and guidance into changes within the higher education sector. Understanding future strategic objectives of government and other universities allows the Guild to prepare and plan for future campaigns and evaluate our organisational sustainability in the changing higher education landscape. The Guild continued to strengthen its internal governance practices by updating a number of policies and procedures which govern day-to-day operations.
hosted by equity departments and student-run community groups to enrich the student experience. Curtin’s Kalgoorlie campus was well supported by the Guild through SSAF funding which allowed the WASM Guild representatives to effectively advocate for the unique needs of its regional students. Curtin Guild Student representatives sat on more than 31 committees, working parties, panels, and taskforce groups throughout the year ensuring participation of students in all levels of University decision-making. Student Representatives and general students attended eight different conferences throughout 2016 in order to network, educate, and advocate for student rights and equity groups. The Life Builder program arms students with strong life skills and real world experiences.
Life Builder It primarily funds the following areas: • Development of clubs and societies (by promoting and supporting student run activities and initiatives on campus) • Provision of discounted courses via the Life Hacks program for students seeking to learn new skills or to meet co-curricular unit requirements (i.e. First Aid certification); • Development and maintenance of the Guild’s digital engagement sphere (ensuring all students have equal access to essential services) The Experience The Guild reached and engaged with more students in 2016 through diverse and vibrant events delivered in a colourful, hectic and truly experiential way.
Faculty Representatives acted as a point of contact for students who had issues in their schools regarding assessments, teaching quality, policies, or staff. There were ongoing efforts to engage with a number of equity groups of students on campus through Equity Department Officers. Various events, workshops, activities, and trips were
CURTIN STUDENT GUILD ANNUAL REPORT 2016
44
Student Welfare and Support Demand for welfare and support services delivered by Student Assist increased in 2016 with the following key areas of growth. • 18% increase in caseload • 30% growth of international students accessing the Student Assist • The introduction of new platforms to engage with students and organisations based in Kalgoorlie. • 96 cases of emergency food aid • Expansion of the Reboot program • Childcare grant • Postgraduate Mentor Program with students participating as mentees supported by 53 mentors. Legal assist continued to remain a much sought after and appreciated service across the student population.
Live Entertainment and Movie Screenings The provision of SSAF funding enabled the Guild to provide clubs with the opportunity to deliver movie nights twice a week. Clubs used the movie screenings to drive their membership, add value to their club members and fundraise. Additionally the Guild facilitated three free movie nights per semester which were well attended. The Guild allocated funds to live entertainment on Wednesday evenings, the creation of the Funk ‘n Friday event series which included live acoustic sets on Friday afternoons, entertainment at large Guild events such as Grasslands, and upgrading the audio visual capacity for event delivery. Funding was also applied to weekly DJ sets, open mic comedy nights ,and trivia nights. Sushi Bar
The benefits of this project included culinary diversity, freshness, and the provision of quality products to our students while maintaining a price point below the industry benchmark. Café Extended Hours SSAF has enabled the Guild to extend the trading periods of cafes during teaching weeks. From a commercial point of view this would not be possible without SSAF funding as the income generated would not cover staff costs or other overheads. This is an access and equity initiative that ensures that the Guild can provide value back to the students who are charged SSAF but don’t attend University during the traditional 9-5 business hours. If the trade within the café grows to sustain its operating costs then the Guild will cover the costs and reallocate SSAF funds to other areas to maximise our service delivery to Curtin students.
The Guild’s Sushi Me brand became a culinary success across the Curtin campus. The Guild purchased plant and equipment and invested in infrastructure improvements to enable the production of sushi from the Main Café. Sushi products were made fresh daily and sold throughout the campus at the numerous Guild cafes.
45
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
46
Clubs Pod
Golf Cart Transport
A new Guild Club HQ was established in the Agora Courtyard adjacent to the Guild Tavern and the Main Café. This dedicated club resource centre and meeting room is accessible to any Guild club. The facility includes a kitchen facility, large board room table and informal furniture arrangement that accommodate an array of club activities.
The Guild’s purchase of a f leet of golf carts to transport equipment, food, and beverages alleviated many of the risks associated with the movement of petrol powered vehicles on campus as well as being a more environmentally friendly option.
Curtin Bike share Project A f leet of 30 share bikes at the Bentley campus provided alternative transport options for Curtin students and encouraged a healthier lifestyle.
Entertainment Vehicle Enhancing the University experience is one of the Guild’s four strategic priorities. With the allocation of SSAF funding the Guild purchased a kombi van which was rebuilt and retrofitted with audio visual equipment including DJ equipment and an in-built barbecue. It was particularly important for the Guild to provide a cost
47
effective initiative that was selfcontained, without need for hiring equipment, which could deliver entertainment to all parts of the campus and not be restricted to the Tavern or University building infrastructure. Contribution to Vibrant Campus The University’s Vibrant Campus initiative, which was co-funded by the Guild, introduced daily entertainment, living art murals, sea containers throughout campus for various activations, as well as equipment such as staging and ping pong tables and barbecues. These initiatives had a positive impact on student well-being and engagement through f lexible meeting and learning places throughout the campus.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
SSAF project expenditure in 2016.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
48
Financial Reports
49
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
50
Student Guild of Curtin University of Technology Financial Statements For the Year Ended 31 December 2016
51
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Contents of Financial Statements. Statement by Guild Council
53
Independent Audit Report
54
Statement of Profit or Loss and Other Comprehensive Income
56
Statement of Financial Position
57
Statement of Changes in Equity
58
Statement of Cash Flows
59
Notes to the Financial Statements
60 - 70
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
52
Statement by Guild Council. In accordance with a resolution of the Council of the Student Guild of Curtin University of Technology we state that In the opinion of the Guild Council: (a) the Statement of Profit or Loss and Other Comprehensive Income and Statement of Cash Flows are drawn up so as to give a true and fair view of the performance of the Guild for the year ended 31 December 2016; (b) the Statement of Financial Position is drawn up so as to give a true and fair view of the state of affairs of the Guild as at 31 December 2016; (c) the Guild has complied with the Australian Accounting Standards - Reduced Disclosure Requirements, the Curtin University of Technology Act 1966 and the Australian Charities and Not-for-Profits Commission Act 2012, and (d) at the date of this statement there are reasonable grounds to believe that the Guild will be able to pay its debts as and when they fall due. On behalf of the Guild Council:
Liam O’Neill Jemma Chin President of the Student Guild General Secretary of the Student Guild On behalf of the Guild Council Dated this 30th day of March 2017
53
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Level 1 10 Kings Park Road West Perth WA 6005 Correspondence to: PO Box 570 West Perth WA 6872 T +61 8 9480 2000 F +61 8 9322 7787 E info.wa@au.gt.com W www.grantthornton.com.au
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF STUDENT GUILD OF CURTIN UNIVERSITY OF TECHNOLOGY Auditor’s Opinion
We have audited the financial report of Student Guild of Curtin University of Technology (the Guild), which comprises the statement of financial position as at 31 December 2016, and the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and comprising notes to the financial statements, including a summary of significant accounting policies and the statement by the Guild Council. In our opinion, the accompanying financial report of Student Guild of Curtin University of Technology: a
presents fairly, in all material respects, the Guild’s financial position as at 31 December 2016 and of its performance and cash flows for the year then ended; and
b
complies with Australian Accounting Standards – Reduced Disclosure Requirements, the Curtin University of Technology Act 1966 and the Australian Charites and Non-forprofits Commission Act 2012.
Basis for Auditor’s Opinion
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Guild in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.
Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389 ‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.
Liability limited by a scheme approved under Professional Standards Legislation.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
54
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibility of the Guild Council for the Financial Report
The Guild Council are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards and . This responsibility includes such internal controls as the Guild Council determine are necessary to enable the preparation of the financial report to be free from material misstatement, whether due to fraud or error. In preparing the financial report, the Guild Council are responsible for assessing the Council’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Council or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Council’s financial reporting process. Auditor’s Responsibilities for the Audit of the Financial Report
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/auditors_files/ar3.pdf . This description forms part of our auditor’s report.
GRANT THORNTON AUDIT PTY LTD Chartered Accountants
M J Hillgrove Partner - Audit & Assurance Perth, 30 March 2017
55
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Statement of profit or loss and other comprehensive income for the year ended 31 December 2016. 2016 ($)
2015 ($)
13,084,410
13,241,145
Rendering of Services
383,184
351,814
Rental Income
140,478
148,500
62,579
106,356
2
13,670,651
13,847,815
3 (iv)
(5,725,861)
(6,256,040)
7,944,790
7,591,775
4,645,978
4,135,599
Employee Benefits Expense
(9,567,156)
(8,639,202)
Distribution Expenses
(1,169,823)
(710,292)
Marketing Expenses
(2,112,715)
(975,730)
Occupancy Expenses
(1,905,481)
(1,828,804)
(382,583)
(388,848)
(81,705)
(74,097)
(15,219,463)
(12,616,973)
lncome/(Loss) before Income Tax
(2,628,695)
(889,599)
lncome/(Loss) from Continuing Operations
(2,628,695)
(889,599)
(2,628,695)
(889,599)
(2,628,695)
(889,599)
(2,628,695)
(889,599)
Continuing Operations Revenue
NOTE
Sale of Goods
Finance Income
Cost of Sales Gross Profit Other Income
2
Administrative Expenses Finance Costs
Net lncome/(Loss) for the Year
3 (ii)
Continuing Operations Revenue lncome/(Loss) for the year Other comprehensive income for the year Total comprehensive lncome/(Loss) for the year
The accompanying notes form part of these financial statements.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
56
Statement of financial position as at 31 December 2016. NOTE
2016 ($)
2015 ($)
4 (a)
1,290,754
2,408,542
Trade and other receivables
5
2,574,470
3,004,328
Inventories
6
458,478
578,401
Other current assets
7
81,836
123,373
4,405,538
6,114,644
3,709,602
4,593,036
3,709,602
4,593,036
8,115,140
10,707,680
9
2,438,579
2,461,820
10
785,943
672,206
3,224,522
3,134,026
158,254
212,594
158,254
212,594
3,382,776
3,346,620
4,732,364
7,361,060
4,625,043
7,232,975
107,321
128,085
4,732,364
7,361,060
Current Assets Cash and cash equivalents
Total Current Assets Non-Current Assets Property, plant and equipment
8
Total Non-Current Assets Total Assets Current Liabilities Trade and other payables Short-term provisions Total Current Liabilities Non-Current Liabilities Long-term provisions
10
Total Non-Current Liabilities Total Liabilities Net Assets
Equity Retained Earnings Capital Development Reserve Total Equity
The accompanying notes form part of these financial statements.
57
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Statement of changes in equity for the year ended 31 December 2016. Retained Earnings ($)
Capital Development Reserve ($)
Total Equity ($)
Balance at 1 January 2015
8,143,274
107,385
8,250,659
Total Comprehensive lncome / (Loss) for the year
(889,599)
Transfer from / (to) retained earnings Balance at 31 December 2015 Balance at 1 January 2016 Total Comprehensive lncome / (Loss) for the year Transfer from / (to) retained earnings Balance at 31 December 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
(889,599)
(20,700)
20,700
7,232,975
128,085
7,361,060
7,232,975
128,085
7,361,060
(2,628,696)
(2,628,696)
20,764
(20,764)
4,625,043
107,321
4,732,364
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
58
Statement of cash flows for the year ended 31 December 2016. Cash f lows from operating activities
NOTE
Receipts from students/customers
2016 ($)
2015 ($)
15,623,113
13,752,787
5,881,589
6,083,397
Receipts from SSAF Payments to suppliers and employees
(19,283,655) (16,578,209)
Payments (Reimbursement) of SSAF to University
(2,820,794)
(2,921,698)
62,579
106,356
(537,168)
442,633
(580,621)
(1,446,765)
Interest received Net cash provided by operating activities Cash f lows from investing activities Purchase of property, plant and equipment Net cash flows used in investing activities
(580,621) (1,446,765)
Net increase / (decrease) in cash held
(1,117,789) (1,004, 134)
Cash at beginning of financial year
2,408,543
3,412,676
1,290,754
2,408,544
Cash at end of financial year*
4
* Cash at end of financial year includes cash and cash equivalents and term deposits.
The accompanying notes form part of these financial statements.
59
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Notes to the financial statements for the year ended 31 December 2016. Note 1: Statement of significant accounting policies The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements (including Australian Accounting Interpretations) and other authoritative pronouncements of the Australian Accounting Standards Board. Student Guild of Curtin University is an individual entity. The Guild was established under the Curtin University of Technology Act 1966 and related Statutes. The following is a summary of the material accounting policies adopted by the Guild in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated. (a) Income Tax The Guild is exempt from Income Tax. (b) Inventories Inventories are measured at the lower of cost and net realisable value. Costs incurred in bringing each product to its present location and condition are accounted for as follows: • Finished goods - purchase cost on a first-in-first-out basis. (c) Property, Plant and Equipment Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses. Plant and equipment The carrying amount of plant and equipment is reviewed annually by the Council to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash f lows that will be received from the assets employment and subsequent disposal. The expected net cash f lows are discounted to their preserit values in determining recoverable amounts. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will f low to the Guild and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred. Depreciation The depreciable amount of all fixed assets including buildings and capitalised leased assets, is depreciated on a straight line basis over their useful lives to the Guild commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset
Depreciation Rate
Building improvements - other Rate required based on Lease terms Furniture, fittings & equipment 10% - 15% Motor Vehicle 25%
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
60
Notes to the financial statements for the year ended 31 December 2016. Note 1: Statement of significant accounting policies (continued) The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the income statement (d) Leases Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to the Guild are classified as finance leases. Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period. Leased assets are depreciated on a straight-line basis over their estimated useful lives where it is likely that the Guild will obtain ownership of the asset or over the term of the lease. Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred. Lease incentives under operating leases are recognised as a liability and amortised on a straight-line basis over the life of the lease term (e) Provisions Provisions are recognised when the Guild has a legal or constructive obligation, as a result of past events, for which it is probable that an outf low of economic benefits will result and that outf low can be reliably measured. (f ) Employee Benefits Provision is made for the Guild’s liability for employee benefits arising from services rendered by employees to balance date. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled, plus related on-costs. Employee benefits payable later than one year have been measured at the present value of the estimated future cash outf lows to be made for those benefits. Contributions are made by the Guild to an employee superannuation fund and are charged as expenses when incurred. (g) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the balance sheet.
61
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Notes to the financial statements for the year ended 31 December 2016. Note 1: Statement of significant accounting policies (continued) (h) Revenue Revenue from the sale of goods is recognised upon the delivery of goods to customers. Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets. Revenue from the rendering of a service is recognised upon the delivery of the service to the customers. Revenue from grants or subsidies is recognised when control of the funds passes to the Guild. All revenue is stated net of the amount of goods and services tax (GST). (i) Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances, the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the balance sheet are shown inclusive of GST. Cash f lows are presented in the statement of cash f lows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash f lows. ( j) Financial Instruments Recognition Financial instruments are initially measured at cost on trade date, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below. Financial assets at fair value through profit and loss A financial asset is classified in this category if acquired principally for the purpose of selling in the short term or if so designated by management and within the requirements of AASB 139: Recognition and Measurement of Financial Instruments. Derivatives are also categorised as held for trading unless they are designated as hedges. Realised and unrealised gains and losses arising from changes in the fair value of these assets are included in the income statement in the period in which they arise. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method. Held-to-maturity investments These investments have fixed maturities, and it is the Guild’s intention to hold these investments to maturity. Any heldto-maturity investments held by the Guild are stated at amortised cost using the effective interest rate method. Available-for-sale financial assets Available-for-sale financial assets include any financial assets not included in the above categories. Available-for-sale financial assets are ref lected at fair value. Unrealised gains and losses arising from changes in fair value are taken directly to equity.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
62
Notes to the financial statements for the year ended 31 December 2016. Note 1: Statement of significant accounting policies (continued) ( j) Financial Instruments (continued) Financial liabilities Non-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation. Impairment At each reporting date, the Guild assesses whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recognised in the income statement. (k) Impairment of Non-Financial Assets At each reporting date, the Guild reviews the carrying values of its non-financial assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the income statement. Impairment testing is performed annually for goodwill and intangible assets with indefinite lives. Where it is not possible to estimate the recoverable amount of an individual asset, the Guild estimates the recoverable amount of the cash-generating unit to which the asset belongs.
63
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Notes to the financial statements for the year ended 31 December 2016. Note 2: Revenue 2016 ($)
2015 ($)
Catering
11,171,566
10,936,977
Retail
1,912,844
2,304,168
13,084,410
13,241,145
Membership Income
327,018
308,530
Commercial Complex
140,478
148,500
56,166
43,284
62,579
106,356
586,241
606,670
13,670,651
13,847,815
Catering
247,650
164,881
Retail
254,655
361,915
3,370,429
2,976,336
Continuing Operations Revenue
NOTE
Trading Activities
Total Trading Activities Other Operating Activities
HEPPP Funding
(a)
Interest Revenue Total Other Operating Activities Total Continuing Operations Revenue Other Income Other Income Activities
Student Services & Amenities Fee (SSAF) Other Total Other Income Activities
(b)
20,902 3,893,636
3,503,132
750,000
630,000
Non-Operating Activities University Grant Net Gain/(Loss) from Sale of Assets Total Non-Operating Activities Total Other Income Total Revenue
CURTIN STUDENT GUILD ANNUAL REPORT 2016
2,342
2,467
752,342
632,467
4,645,978
4,135,599
18,316,629
17,983,413
(a) Higher Education Participation and Partnerships Program (‘HEPPP’) In 2016 the Curtin Student Guild received $56,166 of HEPPP funding given by the Federal Government to the University. The funds were given specifically to fund a Financial Counsellor within the Guild. (b) Student Services and Amenities Fee (‘SSAF’) In 2016 the Curtin Student Guild received $2,736,130 from the SSAF paid by students. The funds were collected by the Curtin University and remitted in July 2016 and in January 2017 to the Guild. These funds are spent in a prescribed manner as directed by the legislation and as agreed by the SSAF Expenditure Advisory Committee and approved by the Curtin University Vice Chancellor and the Guild. In 2016 there was $894,299 of SSAF spent that was received in earlier years and $260,000 was returned to the University as a contribution to their project ‘Curtin Vibrant Campus’.
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
64
Notes to the financial statements for the year ended 31 December 2016.
Note 3: Surplus (loss) from ordinary activities
(i) Operating Expenses
NOTE
2016 ($)
2015 ($)
915,443
767,833
515,507
469,773
32,574
33,389
1,463,524
1,270,995
Occupancy Expenses include the following: Amortisation Leasehold Improvements Depreciation Furniture, fittings and equipment Motor Vehicles
(ii) Operating Expenses
(a) Current Year Loss 2,628,695
Surplus/(Deficit) has been derived from the following: Administration Representation Services Marketing Commercial Operating Surplus/(Deficit) from operations
(a)
(2,644,202)
(208,899)
(393,738)
(877,532)
(1,166,017)
(1,501,763)
1,575,262
1,698,595
(2,628,695)
(889,599)
Net Gain/(Loss) on the disposal of: 2,343
2,467
Trading Activities Catering
3,615,008
3,908,897
Retail
1,124,029
1,472,380
Member Discounts
986,824
874,763
Total Cost of Sales
5,725,861
6,256,040
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
Accelerated amortisation rates have been applied due to the Head Lease expiring in 2019. In 2016 amortisation expense was $915,443 (2015:$767,833). Discounts
(iv) Cost of Sales
65
Over the first four years SSAF was received, 2012 to 2015, the Guild spent less on SSAF projects than the amounts collected. In 2016 there were more completed SSAF projects than funds collected which contributed $894,299 to the 2016 loss. Accelerated Amortisation
(iii) Disposal of Assets
Other Assets
SSAF Funding
In 2010 membership discounts were $444,332. This has increased gradually to $986,824 in 2016. Part of the reason is that as students are now being charged the SSAF the Guild decided not to charge any additional membership fees to students.
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Notes to the financial statements for the year ended 31 December 2016.
Note 4: Cash and cash equivalents and term deposits 2016 ($)
2015 ($)
Cash at bank and on hand
107,800
94,686
Short-term bank deposits
1,182,954
2,313,856
Cash and cash equivalents
1,290,754
2,408,542
Cash and cash equivalents
The effective interest rate on short-term bank deposits was 2.77% (2015:3.01%); the interest rate on these deposits is revised every time the term expires and the most beneficial terms are selected depending on the interest rate payable by the bank. The shortest term is usually 30 days and the longest between 180 and 210 days except for the Credit Union Deposit which in 2016 was for 12 months.
Note 5: Receivables 2016 ($)
2015 ($)
Trade receivables
70,596
112,441
Provision for impairment of receivables
(1,765)
(2,241)
2,380,468
2,772,744
125,171
121,384
2,574,470
3,004,328
2016 ($)
2015 ($)
Finished Goods
536,979
609,688
Provision for Obsolescence
(78,501)
(31,287)
458,478
578,401
Current
Other receivables GST receivable (net)
Note 6: Inventories
At Cost
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
66
Notes to the financial statements for the year ended 31 December 2016.
Note 7: Other Assets 2016 ($)
2015 ($)
81,836
123,373
81,836
123,373
2016 ($)
2015 ($)
8,421,081
7,671,950
(5, 702,550)
(4,787,107)
2,718,531
2,884,843
3,531,264
3,157,466
(2,576, 176)
(2,137,762)
955,088
1,019,704
At Cost
129,771
152,020
Accumulated Amortisation
(93,788)
(63,531)
35,983
88,489
600,000
-
(600,000)
-
-
600,000
-
600000
3,709,602
4,593,036
Prepayments
Note 8: Property, Plant & Equipment
Leasehold Land & Buildings Improvements At Cost Accumulated Amortisation
Furniture, Fittings & Equipment At Cost Accumulated Amortisation
Motor Vehicles
Work in progress Opening Balance Transfer to Leasehold Land & Building Additions at Cost
Total Written Down Value
67
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Notes to the financial statements for the year ended 31 December 2016.
Note 8: Property, Plant & Equipment (continued) (a) Movement in Carrying Amounts Movements in the carrying amounts for each class of property, plant and equipment between the beginning of the year and the end of the current financial year.
Leasehold Land & Buildings ($)
Furniture Fittings & Equipment ($)
Motor Vehicles ($)
Work in Progress($)
Total ($)
2,884,843
1,019,704
88,489
600,000
4,593,036
Additions
749,131
431,490
-
-
1,180,621
Disposals
-
(79,942)
-
-
(79,942)
Transfers
-
22,250
(22,250)
(600,000)
(600,000)
Write Backs
-
77,092
2,318
-
79,410
Depreciation/Amortisation
(915,443)
(515,506)
(32,574)
-
(1,463,523)
Carrying amount
2,718,531
955,088
35,983
2016 Opening Balance
3,709,602
Note 9: Payables
Unearned revenue Trade payables
CURTIN STUDENT GUILD ANNUAL REPORT 2016
2016 ($)
2015 ($)
2,727
15,164
2,435,852
2,446,656
2,438,579
2,461,820
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
68
Notes to the financial statements for the year ended 31 December 2016.
Note 10: Provisions 2016 ($)
2015 ($)
937,285
846,174
6,912
38,626
944,197
884,800
Current
785,943
672,206
Non-Current
158,254
212,594
944,197
884,800
Employee Benefits Other
Provision for Employee Benefits A provision has been recognised for employee benefits relating to annual and long service leave. In calculating the present value of future cash f lows in respect of long service leave, the probability of long service leave being taken is based upon historical data. The measurement and recognition criteria for employee benefits have been included in Note 1.
Note 11: Key Management Personnel Compensation
Total Compensation
2016 ($)
2015 ($)
1,635,508
1,822,054
Note 12: Financial Instruments The Curtin Student Guild’s principal financial instruments comprise receivables, payables, cash and term deposits
Note 13: Events After Reporting Period In 2016 the Guild undertook a process called ‘Transforming the Guild’ which, through direct consultation with staff members determined a more effective & efficient organisational structure. Stage 1 of this process resulted in an internal restructure that became effective on the 9th January 2017. Stage 2 of this process involves amalgamating the Guild’s retail operations into one large retail outlet, and will be actioned in stages throughout 2017.
69
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
Notes to the financial statements for the year ended 31 December 2016.
Note 14: Leases Operating leases as lessee The Guild’s future minimum operating lease payments are as follows:
Within 1 year ($)
Minimum Lease 1 to 5 years ($)
Payments due after 5 years ($)
Total ($)
31 December 2016
49,272
2,000
-
51,272
31 December 2015
87,096
50,800
-
137,896
Lease expenses during the period amount to $97,528 (2015:$86,983) representing the minimum lease payments. The property lease commitments are non-cancellable operating leases with lease terms of between one (1) and ten (10) years. Increases in lease commitments may occur in line with CPI or market rent reviews in accordance with the agreements. Note: Angazi: Current Angazi extension lease expires July 14th 2017 Main Lease: Current Main Lease expires 31st December 2019
Note 15: Contingent Liability The Curtin Student Guild holds an offset facility with BankWest in the amount of $140,000. Its inception took place some years ago when it became necessary in order to facilitate part payments of Membership Fees for students. At the time we were offering to make fortnightly deductions from the students’ bank account or credit card, in order to reduce the impact of paying the full fee in one payment. It has not been used since then and subsequent to year end the bank has cancelled the facility and released the hold over the term deposit. The Guild has an additional offset facility with Bankwest for $20,000 that was set up to facilitate a corporate credit card facility.
Note 16: Guild Registered Office The registered office of the Guild is: Curtin University of Technology Building 106 Kent Street BENTLEY WA 6102
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
70
71
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
CURTIN STUDENT GUILD ANNUAL REPORT 2016
CURTIN STUDENT GUILD ANNUAL REPORT 2016
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y OF TECHNOLOGY
72
73
BUILDING 106F CURTIN UNIVERSITY / KENT STREET WA 6102 WWW.GUILD.CURTIN.EDU.AU / E: reception@guild.curtin.edu.au / P: (08) 9266 2900
CURTIN STUDENT GUILD ANNUAL REPORT 2016