2017 Annual Report
Our Mission. Create a fun and vibrant community that maximises the student experience.
Our Values. Autonomy Student control of student affairs for the benefit of our members. Integrity Our behaviour builds trust. Diversity Valuing difference between people and standing for equity, equality and fairness.
Our Vision. To be the leading independent student-run organisation in Australia, which is highly valued by all of the university community, especially our members.
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 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 for the year ended 31 December 2017. 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 23rd of May 2018. 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 and Guild Grant expenditure report of the Student Guild of Curtin University for the year ended 31 December 2017. The Student Guild of Curtin University 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 Dylan Heywood President General Secretary
On behalf of the Guild Council Dated this 29th day of March 2018
Contents. 1.
4.
7.
President’s Report
Education and Representation Activities
Student Services and Amenities Fee (SSAF) Expenditure in 2017
Page 9
Page 15
Page 1
2. Managing Director’s Report Page 3
3. 2017 Student Representatives Page 5
5. Student Services Page 11
6. Commercial Activities Page 13
CURTIN STUDENT GUILD ANNUAL REPORT 2016
8. Grant Expenditure in 2017 Page 17
9. Financial Reports Page 19
President’s Report.
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CURTIN STUDENT GUILD ANNUAL REPORT 2017
As the first Guild President since 1984 to serve a second term in office, I am happy to have the rare opportunity to reflect on the Guild’s achievements for a second year. Our accomplishments in 2017 include: • Campaigning against the drastic changes the Federal Government sought to introduce to higher education. • Engaging in a productive dialogue to guide significant changes to the Assessment and Student Progression Manual. • Launching our Uniquely University Master Plan as we negotiated to renew our lease with Curtin University. The Master Plan has seen us successfully renew our tenure at this University with the expectation that a new lease will be signed in the first quarter of 2018. • Defeating an effort by the University to remove a tuition free week each semester from the Academic Calendar. • Renegotiating an agreement with the University relating to the SSAF and Guild Grants ensuring a stable funding model for representation and student services. • Responding decisively to the outcome of the Australian Human Rights Commission survey into sexual assault and harassment at Universities. • Clearing our SSAF liability that had accumulated since 2012. • Breaking records with the highest ever number of registered clubs: 121 in total. • Helping 1,196 students who sought support through our Student Assist program. • Maintaining our free membership program providing hundreds of thousands of dollars in discounts to Curtin students.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
We also farewelled our Managing Director, Brent Penberthy, and appointed his successor, Dr David Luketina. These successes also came with challenges. The significant losses that the Guild accumulated now leave us in a complex position having to balance our desire to implement our plans to renew our facilities against our organisational sustainability. The $1,706,965 loss in 2017, while significant, represents the final expenditure of built up SSAF funding. Work undertaken last year will mean that the Guild lives within its means while accumulating the necessary funding to deliver its redevelopment plans. We recognise that our sustainability measures did have an impact on the Curtin student experience with a decrease in our overall satisfaction rating by four points to 83%. This figure however remains at an all-time high with no rating above 80% registered prior to 2015. For me this represents the ongoing support that Curtin students have for our Guild. I would like to pay tribute to Mr Brent Penberthy who left us at the end of 2017 after 16 years of service to the Guild, the last five of which were spent in the role of Managing Director. Brent oversaw our efforts to transform the Guild to create a more effective organisational structure and more sustainable business model. He left big shoes to fill.
with us, David was the General Manager – Business Services at the Water Corporation and as well he had considerable experience as a university academic. David is well placed to lead the Curtin Student Guild through an exciting period of consolidation and opportunity.
Moving forward in 2018. As we move forward in 2018, my focus will be on staying the course that we have set to ensure the long term sustainability of the Guild. However, this does not mean the Guild will be inactive. In 2018, we will continue to develop our new strategic plan. Our governance structure changes will be completed with the enactment of a new Guild Statute finally allowing us to complete the changes we set out to achieve in 2015. Finally, we will continue to grow our role at this University with the implementation of a student partnership agreement at Curtin. It has never been a better time to be a student at Curtin University.
Liam O’Neill 49th Guild President
After a rigorous selection process, Dr David Luketina was appointed to the role. David is highly qualified and was appointed at the start of 2017 as the Guild’s Associate Director – Corporate Services. Prior to working
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Managing Director’s Report.
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CURTIN STUDENT GUILD ANNUAL REPORT 2017
2017 was a year of great change and renewal for the Guild as we implemented our transforming the Guild program. The first staffing restructure since 2004 created a f luid and nimble structure that has enabled us to work within the modern University environment. The new operational structure comprises three divisions - Student Services, Commercial Services and Corporate Services and brings customer service to the fore. Improvements were made to a significant number of areas to enhance efficiency and effectiveness. For example, point of sales systems have been standardised and event planning consolidated.
The Financials. We consolidated our retail services with the aim of turning a set of lossmaking businesses into a profitable new one with the opening of our G Mart. The total comprehensive loss of $1,706,965 at 31 December 2017 includes the non-cash cost of $986,827 for depreciation and amortisation. The key components of the 2017 revenue were $10,951,982 from trading services and $3,573,204 from grants and SSAF (student services amenities fee). The main costs were $8,799,498 for staffing and $4,069,940 for the cost of sales expenses. Discounts of $866,402 were provided to members.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
The restructure has allowed us to create a budget for 2018 which brings our spending into line with the income available. Overall, the 2018 Operating Budget projects a Net Profit before amortisation and depreciation of $560k. The 2018 Capital Budget includes only essential spending so that the Guild will have sufficient reserves to embark on Stage 1 of the Guild Master Plan. Stage 1 includes relocating and improving the functionality of the current Club HQ. The Guild’s strong focus on governance included appointing a new external audit partner to provide fresh eyes and scrutiny on our finances, establishing an Audit Risk and Compliance Committee with provision for external members, implementing a Workplace Health and Safety Management Plan, and progressing a risk policy and framework. We unveiled a bright, bold and confident new look for the Curtin Student Guild that aligns with the Guild’s role as the heart of student life on campus. Our brand is about reinforcing our collective strength and the vibrant diversity that we both serve and help foster.
As part of being an even better organisation for students, we have clarified and simplified our values: • Autonomy – student control of student affairs for the benefit of our members • Integrity – our behaviour builds trust • Diversity – valuing difference between people and standing for equity, equality and fairness I am proud to work for an organisation that upholds and delivers on these values and look forward to helping create a fun and vibrant environment for Guild members in 2018 and onwards.
David Luketina Managing Director
The high standard of our service and staff was ref lected in the many hundreds of thousands of coffees cheerfully served, Kirribilli catering being certified as a Gold Licence Caterer for another year, and wonderful events such as Grasslands.
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2017 Student Representatives. Executive
GUILD PRESIDENT Liam O’Neill
GENERAL SECRETARY Jemma Chin
ACTIVITIES VICE PRESIDENT Anna Griffin
EDUCATION VICE PRESIDENT Jordan Piggott
HEALTH SCIENCE Dylan Heywood
HUMANITIES Finlay Nolan
Faculty Representatives
BUSINESS Victoria Barker (Education Vice President September - November 2017)
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SCIENCE & ENGINEERING Declan Mulheron
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Equity Departments
INTERNATIONAL STUDENT COMMITTEE PRESIDENT Ahmed Ademoglu
POSTGRADUATE STUDENT COMMITTEE PRESIDENT Abhishek Singh
STUDENTS WITH DISABILITIES OFFICER Joshua Mackenzie
WOMEN’S OFFICER Elly Bijlsma
QUEER OFFICERS Ridley Bergeron & Avery Perkins
INDIGENOUS OFFICER Sarah Bellottie
CURTIN STUDENT GUILD ANNUAL REPORT 2017
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AUDIT, RISK AND COMPLIANCE FINANCE ACTIVITIES COMMERCIAL SERVICES LEGAL HEALTH AND SAFETY FIRST YEAR
COMMITTEES
GUILD EXECUTIVE
DISABILITIES INDIGENOUS WOMEN’S QUEER
REPRESENTATION
POSTGRADUATE INTERNATIONAL FACULTY STUDENT EXPERIENCE STUDENT ASSIST CORPORATE RELATIONS FINANCE TECHNICAL SERVICES
COMMERCIAL KITCHEN TAVERN & RETAIL FOOD & BEVERAGE
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HR & WHS STUDENT SERVICES CORPORATE SERVICES
MANAGING DIRECTOR
COMMERCIAL SERVICES
CURTIN STUDENT GUILD ANNUAL REPORT 2017
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.
GUILD PRESIDENT
CURTIN STUDENT GUILD ANNUAL REPORT 2017
GUILD COUNCIL
UNIVERSITY COUNCIL
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Education and Representation Activities. Representation – Your Voice on Campus 2017 was a busy year for our student representatives with an Academic Calendar review, marriage equality postal survey, higher education policy changes and the release of the report into sexual assault and harassment at Australian Universities. Australia Day – Change the Date The 2017 representatives began the year by supporting the fight to change the date of Australia Day. January 26th recognises the day that the first f leet arrived in Australia. For Indigenous people in Australia, this date marks a day of dispossession and disempowerment as the lands they had occupied for tens of thousands of years were taken from them. We received a great response from our members in support of our stance and the campaign driven by the Indigenous Department. Kalgoorlie Campus In 2017, WASM Student Guild became an official branch of the Curtin Student Guild. Our Guild President and Science and Engineering Representative visited the Kalgoorlie campus ensuring that the students in regional Western Australia had the opportunity to engage with their representatives.
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Penalty Rates The decision by the Fair Work Commission to slash penalty rates for hospitality and retail workers directly affected many of the Guild’s members. The Guild remains strongly opposed to this decision. With students overrepresented in the retail and hospitality industries, this was an issue with great resonance among the student body. The Guild’s commercial services were also affected by these changes and in line with our previous decision to not pay junior rates, the Guild decided to continue to pay penalty rates at their previous levels. State Election The Guild prepared a guide outlining key policies related to students and higher education for the 2016 State election. The guide was well received, particularly the instructions highlighting voting system differences between the state and federal election. University Council Presentation For the first time, the Curtin Student Guild was invited by the Chancellor of Curtin University to lead a 60 minute strategic discussion with the University Council. This presentation achieved great outcomes for the Guild and highlighted our significant role in providing a unique experience to Curtin students.
Renewed SSAF and Guild Grant Agreement The process of renegotiating the Guild’s SSAF Agreement was completed in 2017. The new agreement gives greater security to the Guild in the long term and underscores the value of the partnership between Curtin University and the Curtin Student Guild in delivering the best possible student experience. Higher Education Changes In 2017, in the Federal Budget the Government announced a series of changes to higher education which included fee increases for students, reduced funding to universities and the repayment of graduate debt earlier. There were plans as well to substantially increase fees for New Zealand citizens and Australian Permanent Residents. The Guild, along with the National Union of Students, campaigned against the changes and gained significant media attention in Western Australia. Some of the changes were eventually dropped in the December Mid Year Economic and Fiscal Outlook announcements, while others remain to be opposed throughout 2018.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Academic Calendar Review
Student Partnership
Marriage Equality
In late 2016, Curtin University commenced a process to review Curtin’s academic calendar. In 2017, a taskforce was formed to propose final changes to the calendar. The Guild was represented on this taskforce by Guild Education Vice President, Jordan Piggott. A number of proposals including the reduction of one tuition free week each semester, trimesters and hexmesters (six study periods) were all introduced. After receiving strong student feedback supporting the current arrangements and opposing the University’s proposals, no changes were made by the University to the current model.
The Guild President worked to implement a student partnership agreement at Curtin University. The principles outlined in the agreement, developed by Professor Sally Varnham of UTS, aim to increase student involvement in University decisionmaking. We made a presentation to the University Academic Board and won a commitment by Curtin to adopt the student partnership agreement.
The historic Australian Marriage Law Postal Survey resulted in the most significant campaign run in 2017 by the Guild in support of the “yes” vote. With young people so heavily engaged in the process to grant equality to their LGBTIQ+ peers, this campaign was overwhelmingly supported by our members. The Guild hosted phone banks, stalls, barbecues and provided a drop off location for students to return their postal votes. With the result being a decisive victory for the “yes” vote, a great number of staff and students stood proud of their efforts.
Australian Human Rights Commission (AHRC) Survey into Sexual Assault and Harassment at Australian Universities. In August 2017, the AHRC Survey into sexual assault and harassment at Australian universities was released. Women’s Officer Elly Biljsma led our response to this important issue and we made a series of recommendations to the University addressing student safety concerns. One case of sexual assault or harassment is too many and Curtin University needs to stand by that principle.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Parking on Campus Parking is the perennial issue of all Curtin Students. Consistent Guild pressure in this area has seen parking fees frozen for a number of years. Students raised concerns with the Guild about some aspects of the premium service offered by Curtin’s private parking provider CellOPark and we gained significant media attention in relation to additional fees being charged by the service provider. Unit Outlines Audit The Guild Faculty Representatives and Education Vice President Victoria Barker carried out an audit of Unit Outlines for policy compliance. The report produced by the audit was well received by Curtin staff and highlighted irregularities which are in the process of being corrected.
Visit to Curtin Malaysia Guild President Liam O’Neill was sponsored by Curtin’s International office to visit Curtin’s Malaysia campus in Miri, Sarawak. This was the first time a Guild President had visited an international Curtin campus. This was a great opportunity to highlight the role of the Guild in representing all Curtin students, including those at Curtin’s overseas campuses.
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Student Services.
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CURTIN STUDENT GUILD ANNUAL REPORT 2017
Supporting our Students. The Guild’s independent support service, Student Assist, increased its caseload by five per cent in 2017 working with 1,196 cases across a range of academic, welfare and personal issues. Due to decreasing student numbers at the Kalgoorlie campus, we reluctantly relocated our Student Assist service to Bentley. Support services were successfully delivered by phone, Skype and email with a Student Assist officer visiting Kalgoorlie campus at key times during the year. A Tax-Help centre delivering an Australian Tax Office program to students was coordinated by the Guild again in 2017. The program recruited and trained volunteers to assist students in complying with their tax obligations. Five volunteers coordinated close to 500 appointments.
The Postgraduate Mentor Program returned to a more traditional peermentoring format in 2017, following participant feedback from Higher Degree by Research students who took part in group workshops rather than one-on-one mentoring in 2016. A new website portal was launched in semester one which streamlined the application process. By the end of year, 92 students had participated in the program as mentees. They were supported by 69 mentors. A quarter of participants were HDR students. Many of the students involved—both mentees and mentors—indicated that they would volunteer for the program in 2018.
Clubs, Events, and Activities.
The Guild’s successful Life Hacks program provided affordable life skills and vocational training to Curtin students through extra-curricular courses, programs, and workshops. More than 1,150 students completed a course or workshop in 2017 with 36 different courses offered in semester one and 12 in semester two. Curtin students were able to take advantage of a range of grants, emergency assistance and financial counselling offered by the Guild. These included emergency assistance for childcare as well a grant to help PhD students meet the costs of attending conferences. Unfortunately, the Bookshop Grant was discontinued because of lack of funding however the Guild was able to offer hardship grants to assist students with essential services. The Guild’s Reboot Laptop Loan program continued to benefit students with 47 students taking part including some who received repeat loans. Student Assist provided financial counselling to 89 students with 17 people accessing emergency aid, mainly food parcels from FoodBank WA.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
The Guild coordinated 26 major events in 2017 as well as numerous small activations. These student experiences aimed to: • Make students feel welcome into the University environment • Showcase the Guild as a support service provider as well as an integral part of campus life • Create a vibrant and inviting atmosphere for students on campus Major events ranged from single day to week-long activities. These included: • Semester One and Two Orientation Days (record attendance at both events) • Yokai & Djeran (Indigenousfocussed events) • Guild Presidents 50 year reunion
The Guild supports clubs to create a positive student experience for their members. Additional SSAF has allowed clubs to grow their presence on campus, engage with more students and add a vibrant and visible impact to campus life. In 2017: • There were 121 registered clubs • More than 15,500 students were involved with clubs on campus
• Season sets (a month-long series of music and activity events ) • Pasar Malam multicultural night market (record attendance of more than 12,000 students and community members) The Guild delivered a number of recurring events throughout the year including: • Weekly Promenade Markets • Weekly Grill The Guild - Free BBQ
• A significant increase in club events and activities on and off campus
• Fortnightly Free Wellbeing Breakfast
• Improved support and assistance for clubs
• G-Music (weekly free music event)
• A measurable diversification of club events through specialised and targeted grants
Academic / University Related Issues (962)
Student Assist Cases. Personal Issues (110) Welfare Issues (124) Childcare Assistance Grants (6) PhD Conference Grants (5)
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Commercial Activities.
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CURTIN STUDENT GUILD ANNUAL REPORT 2017
Savour Awards for Excellence For a second year Kirribilli Catering was a finalist in the Savour Awards for Excellence, having previously won the award in the catering category in 2015. The prestigious national competition judges all facets of catering including food quality, event sales and customer service. Guild Outlets Guild outlets remained responsive to customer needs by introducing new food ranges while staying sensitive to student demand for affordable options. Changes at the Bubble Lab enhanced service delivery and a new pop up café, Hot Stuff, emerged from the smallest of budgets as a wonderful relaxation zone for students and staff, offering wallet-friendly toasties and barista and American-style filter coffee.
We introduced more healthy options at The Vege Patch and The Cubby including: • Crunchbox plant-based desserts that are gluten free, vegan friendly and free of refined sugar, • Rok Kombucha made in Margaret River by Curtin Alumni Trent Carroll, and • Rawlicious Delights raw bliss balls made in the Swan Valley. We reinvigorated campus dining with a new salad bar menu at the Main Café, a range of house-made muesli at The Vege Patch and new menus for hot meals and Halal foods. While many new products proved successful, a stuffed spud option where customers could select their own fillings did not gain traction with low sales forcing us to drop this from our menu. During the year, the Guild welcomed a new executive chef whose kitchen culture focussed on production
efficiencies to reduce costs and wastage as well as the training and development of staff. We established new systems for wastage, cleaning and stock control. The Tavern continued to offer students a complete social experience opening for meals, private and club functions as well as regular and one off events. Daily meal deals, weekly trivia nights, karaoke and Open Mic Comedy were popular with students enjoying the opportunity to dine and socialise on campus. The Tav’s larger scale start-up and end of semester events were wellpatronised, although rising set-up costs proved challenging. The Guild launched a one-stop convenience shop in 2017, consolidating a number of retail services in the one location. The G Mart offers staff and students essentials including faculty uniforms, merchandise, stationery, confectionary, printing and binding and second-hand books.
Top sellers at a glance. Coffee (of course). Almost 1 million shots of espresso were drawn.
Hot meals (106,870)
35,700+ middies poured during Happy Hour at The Tav.
Sushi Me (119,640)
Home-made cinnamon donuts (119,640) CURTIN STUDENT GUILD ANNUAL REPORT 2017
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Student Services and Amenities Fee (SSAF) Expenditure in 2017.
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CURTIN STUDENT GUILD ANNUAL REPORT 2017
2017 SSAF * CURTIN UNIVERSITY
50%
50% ACTIVITIES & ACTIVATION
FACILITY UPGRADES
28% REPRESENTATION & SUPPORT DISCOUNTS & EXTENDED HOURS
22%
TRAINING & EDUCATION
24%
17%
9% *SSAF RECEIVED
CURTIN STUDENT GUILD ANNUAL REPORT 2017
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Grant Expenditure in 2017.
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CURTIN STUDENT GUILD ANNUAL REPORT 2017
Grant Acquittal 2017 Since 2007 the Guild has received an annual grant from Curtin University to support student life at Curtin University. This grant is provided under the SSAF and Guild Grant Agreement and is currently set at $750,000 ex GST. The grant is spent on a broad range of activities outlined in the agreement.
The Guild Grant forms core funding for the Guild’s activities particularly in Student Representation and to our Student Assist program. Without this funding programs would not be able to achieve the success they do. The administrative support provided from this funding is also crucial in ensuring that the Guild can be properly supported by highly qualified professional staff.
*
*This is paid to Curtin University
CURTIN STUDENT GUILD ANNUAL REPORT 2017
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Financial Reports.
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CURTIN STUDENT GUILD ANNUAL REPORT 2017
Student Guild of Curtin University. Financial Statements For the Year Ended 31 December 2017
CURTIN STUDENT GUILD ANNUAL REPORT 2017
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Contents of Financial Statements.
21
Statement by Guild Council
22
Auditor’s Independence Declaration
23
Independent Auditor’s Report
24
Statement of Profit or Loss and Other Comprehensive Income
26
Statement of Financial Position
27
Statement of Changes in Equity
28
Statement of Cash Flows
29
Notes to the Financial Statements
30
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
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23
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
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FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Statement of profit or loss and other comprehensive income for the year ended 31 December 2017. NOTE
2017 ($)
2016 ($)
10,951,982
12,097,586
Rendering of Services
286,063
383,184
Rental Income
127,139
140,478
14,346
62,579
2
11,379,530
12,683,827
3 (iv)
(4,069,940)
(4,739,037)
7,309,590
7,944,790
4,007,706
4,011,680
(8,799,498)
(9,567,156)
(965,248)
(1,169,823)
Marketing Expenses
(1,310,094)
(1,478,417)
Occupancy Expenses
(1,501,137)
(1,905,481)
(357,181)
(382,583)
(91,103)
(81,705)
(13,024,261)
(14,585,165)
Loss before Income Tax
(1,706,965)
(2,628,695)
Loss from Continuing Operations
(1,706,965)
(2,628,695)
(1,706,965)
(2,628,695)
(1,706,965)
(2,628,695)
-
-
(1,706,965)
(2,628,695)
Continuing Operations Revenue Sale of Goods
Finance Income
Cost of Sales Gross Profit Other Income
2
Employee Benefits Expense Distribution Expenses
Administrative Expenses Finance Costs
Net Loss for the Year
3 (ii)
Continuing Operations Revenue Loss for the year Other comprehensive income for the year Total comprehensive Income for the year The accompanying notes form part of these financial statements.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
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Statement of financial position as at 31 December 2017.
NOTE
2017 ($)
2016 ($)
Current Assets Cash and cash equivalents
4
172,764
1,290,754
Trade and other receivables
5
1,655,980
2,574,470
Inventories
6
186,434
458,478
Other current assets
7
58,965
81,836
2,074,143
4,405,538
3,452,851
3,709,602
Total Non-Current Assets
3,452,851
3,709,602
Total Assets
5,526,994
8,115,140
9
1,562,713
2,438,579
10
894,234
785,943
2,456,947
3,224,522
44,648
158,254
44,648
158,254
2,501,595
3,382,776
3,025,399
4,732,364
2,913,132
4,625,043
112,267
107,321
3,025,399
4,732,364
Total Current Assets Non-Current Assets Property, plant and equipment
8
Current Liabilities Trade and other payables Short-term provisions Total Current Liabilities Non-Current Liabilities Long-term provisions Total Non-Current Liabilities Total Liabilities Net Assets
10
Equity Retained Earnings Capital Development Reserve Total Equity
The accompanying notes form part of these financial statements.
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FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Statement of changes in equity for the year ended 31 December 2017.
Retained Earnings ($)
Capital Development Reserve ($)
Total Equity ($)
7,232,975
128,085
7,361,060
(2,628,696)
-
(2,628,696)
20,764
(20,764)
-
Balance at 31 December 2016
4,625,043
107,321
4,732,364
Balance at 1 January 2017
4,625,043
107,321
4,732,364
(1,706,965)
-
(1,706,965)
(4,946)
4,946
-
2,913,132
112,267
3,025,399
Balance at 1 January 2016 Total Comprehensive Income/(Loss) for the year Transfer from/(to) retained earnings
Total Comprehensive Income/(Loss) for the year Transfer from/(to) retained earnings Balance at 31 December 2017
The accompanying notes form part of these financial statements.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
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Statement of cash flows for the year ended 31 December 2017.
NOTE
2017 ($)
2016 ($)
Receipts from students/customers
13,468,174
14,636,289
Receipts from SSAF
2,823,204
5,881,589
(16,677,380)
(18,296,831)
-
(2,820,794)
14,346
62,579
(371,656)
(537,168)
(746,334)
(580,621)
(746,334)
(580,621)
(1,117,990)
(1,117,789)
1,290,754
2,408,543
172,764
1,290,754
Cash flows from operating activities
Payments to suppliers and employees Payments (Reimbursement) of SSAF to University Interest received Net cash provided by operating activities Cash flows from investing activities Purchase of property, plant and equipment Net cash flows used in investing activities Net increase / (decrease) in cash held Cash at beginning of financial year 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.
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FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Notes to the financial statements for the year ended 31 December 2017. Note 1: Statement of Significant Accounting Policies The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements of the Australian Accounting Standards Board (AASB), the Australian Charities and Not-for-profits Commission Act 2012 and the Curtin University Act 1966. The Student Guild of Curtin University is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards. The Guild was established under the Curtin University 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 No provision for income tax has been raised as the entity is exempt from income tax under Div 50 of the Income Tax Assessment Act 1997. (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 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 flows that will be received from the assets employment and subsequent disposal. The expected net cash flows are discounted to their present 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 flow to the Guild and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the statement of profit or loss and other comprehensive income 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% - 50% Motor Vehicle 25%
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
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Notes to the financial statements for the year ended 31 December 2017. Note 1: Statement of Significant Accounting Policies (continued) (c) Property, Plant and Equipment (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 statement of profit or loss and other comprehensive income. (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 outflow of economic benefits will result and that outflow 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 outflows 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 statement of financial position.
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FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Notes to the financial statements for the year ended 31 December 2017. 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, net of member trade discounts. 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 statement of financial position are shown inclusive of GST. Cash flows are presented in the statement of cash flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows. (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 held-tomaturity 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 reflected at fair value. Unrealised gains and losses arising from changes in fair value are taken directly to equity.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
32
Notes to the financial statements for the year ended 31 December 2017. 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 statement of profit or loss and other comprehensive income. (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 statement of profit or loss and other comprehensive income. 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. (l) Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year. (m) Trade and Other Payables Trade and other payables represent the liabilities for goods and services received by the company during the reporting period that remain unpaid at the end of the reporting period. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability. (n) Accounts Receivable and Other Debtors Accounts receivable and other debtors include amounts receivable from customers for goods sold and services rendered in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets.
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FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Notes to the financial statements for the year ended 31 December 2017. Note 2: Revenue
NOTE
2017 ($)
2016 ($)
Catering
(a)
8,534,010
10,286,919
Retail
(a)
2,417,972
1,810,667
10,951,982
12,097,586
Continuing Operations Revenue Trading Activities
Total Trading Activities
(a) Transforming the Guild
Other Operating Activities Membership Income
286,063
327,018
Commercial Complex
127,139
140,478
-
56,166
HEPPP Funding Interest Revenue Total Other Operating Activities Total Continuing Operations Revenue
14,346
62,579
427,548
586,241
11,379,530
12,683,827
20,475
247,650
391,276
254,655
2,823,204
2,736,131
-
20,902
3,234,955
3,259,338
750,000
750,000
22,751
2,342
772,751
752,342
4,007,706
4,011,680
15,387,236
16,695,507
Other Income Other Income Activities Catering Retail Student Services & Amenities Fee (SSAF) Other Total Other Income Activities
(b)
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 2017
In 2017 the Guild’s restructure came into effect. Comparative figures for 2016 using the Guild’s 2017 structure would mean that 2016 Catering Revenue was $9,001,423 and 2016 Retail Revenue was $3,096,164. (b) Student Services and Amenities Fee (‘SSAF’) In 2017 the Curtin Student Guild received $2,823,204 from the SSAF paid by students, of which $500,000 was returned to the University as a contribution to their Creative Quarter Redevelopment. The funds were collected by the Curtin University and remitted to the Guild in July 2017 and in January 2018. 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 2017 the Guild spent an additional amount of $1,793,114 from SSAF collected in prior periods, which included $600,000 for Vege Patch & Courtyard redevelopments. An agreement was reached with Curtin University in 2017 which allowed for a write off of Guild SSAF underspend of $444,715 against the University’s overspend. The Guild has no further underspend to acquit.
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
34
Notes to the financial statements for the year ended 31 December 2017. Note 3: Loss from Ordinary Activities
NOTE
2017 ($)
2016 ($)
467,685
915,443
490,824
515,507
28,318
32,574
986,827
1,463,524
(i) Operating Expenses Occupancy Expenses include the following: Amortisation Leasehold Improvements Depreciation Furniture, fittings and equipment Motor Vehicles
(ii) Operating Expenses
(a) Current Year Loss $1,706,965 SSAF Funding
Net Deficit has been derived from the following: Administration Representation Services Marketing Commercial Operating Deficit from operations
(a)
(1,941,735)
(2,644,202)
(876,663)
(393,738)
109,732
(1,166,017)
1,001,701
1,575,262
(1,706,965)
(2,628,695)
(iii) Disposal of Assets Net Gain on the disposal of: Other Assets
22,751
2,343
(iv) Cost of Sales
Catering
(b)
2,777,278
3,615,008
Retail
(b)
1,292,662
1,124,029
Total Cost of Sales
(c)
4,069,940
4,739,037
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
(b) Transforming the Guild In 2017 the Guild’s restructure came into effect. Comparative figures for 2016 using the Guild’s 2017 structure would mean that 2016 Catering Cost of Sales was $3,119,106 and 2016 Retail Cost of Sales $1,619,931. (c) Discounts
Trading Activities
35
Over the first four years SSAF was received, 2012 to 2015, the Guild spent less on SSAF projects than amounts collected. In 2017, in order to clear this liability, the Guild overspent SSAF by $1,793,114 (2016 $894,299). This contributes directly to the 2017 loss.
In 2017 the Guild gave $866,402 worth of membership discounts and in 2016 $986,824. These discounts do not form part of Cost of Sales as Trading Revenue is reported net of discounts.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Notes to the financial statements for the year ended 31 December 2017. Note 4: Cash and Cash Equivalents and Term Deposits
2017 ($)
2016 ($)
Cash at bank and on hand
152,764
107,800
Short-term bank deposits
20,000
1,182,954
172,764
1,290,754
Cash and cash equivalents
Cash and cash equivalents
The effective interest rate on short-term bank deposits was 2.54% (2016:2.77%). The Guild has a corporate credit card which is guaranteed by the $20,000 term deposit with Bankwest. During 2017 a temporary overdraft was put in place for three months to cover the period between semesters when trading on campus is low. The Guild did not draw on this facility. A permanent facility was obtained in December 2017 for $1,000,000 to cover planned Capital Expenditure in 2018. Note 5: Receivables 2017 ($)
2016 ($)
287,560
70,596
Current Trade receivables Provision for impairment of receivables
(2,033)
(1,765)
1,225,397
2,380,468
145,056
125,171
1,655,980
2,574,470
2017 ($)
2016 ($)
Finished Goods
203,481
536,979
Provision for Obsolescence
(17,047)
(78,501)
186,434
458,478
Other receivables GST receivable
Note 6: Inventories
At Cost
Inventory levels decreased in 2017 due to the Retail Consolidation, part two of Transforming the Guild.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
36
Notes to the financial statements for the year ended 31 December 2017. Note 7: Other Current Assets 2017 ($)
2016 ($)
58,965
81,836
58,965
81,836
2017 ($)
2016 ($)
9,035,297
8,421,081
(6,170,235)
(5,702,550)
2,865,062
2,718,531
3,547,137
3,531,264
(2,996,826)
(2,576,176)
550,311
955,088
159,584
129,771
(122,106)
(93,788)
37,478
35,983
Opening Balance
-
600,000
Transfer to Leasehold Land & Building
-
(600,000)
Additions at Cost
-
Prepayments
Note 8: Property, Plant & Equipment
Leasehold Land & Buildings Improvements At Cost Accumulated Amortisation
Furniture, Fittings & Equipment At Cost Accumulated Depreciation
Motor Vehicles At Cost Accumulated Depreciation
Work in progress
Total Written Down Value
37
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
-
-
3,452,851
3,709,602
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Notes to the financial statements for the year ended 31 December 2017. Note 8: Property, Plant & Equipment (continued) (a) Movement in Carrying Amounts Movements in the carrying amounts for each class of property, plant and equipment between the beginning of the year and the end of the current financial year. 2017
Leasehold Land & Buildings ($)
Furniture, Fittings & Equipment ($)
Motor Vehicles ($)
Total ($)
2,718,531
955,088
35,983
3,709,602
Additions
614,216
102,305
29,813
746,334
Disposals
-
(16,258)
-
(16,258)
Depreciation/Amortisation
(467,685)
(490,824)
(28,318)
(986,827)
Carrying amount
2,865,062
550,311
37,478
3,452,851
Opening Balance
Note 9: Payables
Unearned revenue Trade payables
CURTIN STUDENT GUILD ANNUAL REPORT 2017
2017 ($)
2016 ($)
47,885
2,727
1,514,828
2,435,852
1,562,713
2,438,579
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
38
Notes to the financial statements for the year ended 31 December 2017. Note 10: Provisions
Employee Benefits Other
Current Non-Current
2017 ($)
2016 ($)
850,642
937,285
88,240
6,912
938,882
944,197
894,234
785,943
44,648
158,254
938,882
944,197
Provision for Employee Benefits A provision has been recognised for employee benefits relating to annual and long service leave. In calculating the present value of future cash flows in respect of long service leave, the probability of long service leave being taken is based upon historical data. The measurement and recognition criteria for employee benefits have been included in Note 1.
Note 11: Key Management Personnel Compensation 2017 ($)
2016 ($)
Guild Council Members
448,627
610,255
Professional Management
769,897
1,025,253
1,218,524
1,635,508
Key Management Personnel Compensation The Guild’s management structure changed in 2017.
Note 12: Financial Instruments The Student Guild’s of Curtin University principal financial instruments comprise receivables, payables, cash and term deposits.
Note 13: Events After Reporting Period No matter or circumstance has arisen since 31 December 2017 that has significantly affected, or may significantly affect the Guild’s operations, the results of those operations or the Guild’s state of affairs in future financial years.
39
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Notes to the financial statements for the year ended 31 December 2017. Note 14: Leases Operating leases as lessee The Guild’s future minimum operating lease payments are as follows: Minimum Lease Payments Due 2017
Within 1 year ($)
1 to 5 years ($)
After 5 years ($)
Total ($)
31 December 2017
2,000
2,000
4,000
31 December 2016
49,272
2,000
51,272
Lease expenses during 2017 amounted to $106,969 (2016:$97,528). 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. New leases are currently being negotiated with the University. The following lease terms are expected; Vege Patch, Bookmark Cafe and Basement Cafe to 2021, Angazi Cafe to 2023, and the Guild Head lease to 2027. The Guild, in conjunction with the University has commissioned a market review to determine fair market values. It is estimated that the lease expense within 1 year will be $ 73,753 and the lease expense within 1 to 5 years will be $611,454 and $81,753 after 5 years.
Note 15: Contingent Liability The Guild has no contingent liabilities.
Note 16: Related Party Transactions The following transactions occurred with related party:
Curtin University
2017 ($)
Purchases of goods and Services
1,504,488
Revenue for providing goods and services
4,165,747
The following balances are outstanding at the reporting date in relation to transactions with related party Receivable at 31 December Payable at 31 December
CURTIN STUDENT GUILD ANNUAL REPORT 2017
1,418,219 662,811
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
40
Notes to the financial statements for the year ended 31 December 2017. Note 17: Prior Period Amendments Balances relating to the 2016 comparative years have been amended as follows:1) Sales have historically been increased by member discounts ($986,824) which were ref lected as cost of sales which is not in line with AASB 118 “Revenue”. Revenue should be recognised net of member trade discounts. 2) SSAF grants income have historically been increased by unspent grants ($634,299) which were ref lected as marketing expenses which is not in line with AASB 1004 “Contribution”. Grants revenue should be recognised as income on receipt when control of the funds passes to the Guild. Both errors have now been corrected in the 2017 financial report. These changes do not affect the 2016 Net Profit / (Loss). Effects of the above for the year 2016 are as follows: Original Balance ($)
Adjustment ($)
Closing Balance ($)
Sale of goods
13,084,410
(986,824)
12,097,586
Cost of sales
(5,725,861)
(986,824)
(4,739,037)
Other Income
4,645,978
(634,298)
4,011,680
(2,112,715)
(634,298)
(1,478,417)
Receipts from students/customers
15,623,113
(986,824)
14,636,289
Payments to suppliers and employees
(19,283,655)
986,824
(18,296,831)
Statement of profit or loss and other comprehensive income
Marketing Expenses Statement of Cash Flows Cash f lows from operating activities
41
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
CURTIN STUDENT GUILD ANNUAL REPORT 2017
Notes to the financial statements for the year ended 31 December 2017. Note 17: Prior Period Amendments (continued) Original Balance ($)
Adjustment ($)
Closing Balance ($)
11,171,566
(884,647)
10,286,919
Note 2 - Revenue Trading Activities Catering Retail
1,912,844
(102,177)
1,810,667
Total Trading Activities
13,084,410
(986,824)
12,097,586
Total continuing Operations Activities
13,670,651
(986,824)
12,683,827
Student Services & Amenities Fee (SSAF)
3,370,429
(634,298)
2,736,131
Total Other Income Activities
3,893,636
(634,298)
3,259,338
Total Other Income
4,645,978
(634,298)
4,011,680
18,316,629
(1,621,122)
16,695,507
Member discounts
986,824
(986,824)
-
Total cost of sales
5,725,861
(986,824)
4,739,037
Other Income
Total Revenue Note 3 - Surplus / (Loss) from Ordinary Activites (iv) Cost of Sales
Note 18: Guild Registered Office The registered office of the Guild is: Curtin University Building 106 Kent Street BENTLEY WA 6102
Note 19: Change of Name Under the Universities Legislation Amendment Act 2016, effective 2 January 2017 the University was formally renamed from “Curtin University of Technology” to “Curtin University”. Consequently the Student Guild was legally renamed from “Student Guild of Curtin University of Technology” to the “Student Guild of Curtin University”. The Curtin University of Technology Act 1966 is now also to be cited as the Curtin University Act 1966.
CURTIN STUDENT GUILD ANNUAL REPORT 2017
FINANCIAL REPORTS / STUDENT GUILD OF CURTIN UNIVERSIT Y
42
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BUILDING 106F CURTIN UNIVERSITY / KENT STREET WA 6102 WWW.GUILD.CURTIN.EDU.AU / E: hello@guild.curtin.edu.au / P: (08) 9266 2900
CURTIN STUDENT GUILD ANNUAL REPORT 2017