financial statements for 3health professional …

New South Wales Health Professional Councils Annual Report 2015 189

PART 3 FINANCIAL STATEMENTS FOR HEALTH PROFESSIONAL COUNCILS

3Aboriginal and Torres Strait Islander Health Practice Council of New South Wales __________ 190

Chinese Medicine Council of New South Wales ________209

Chiropractic Council of New South Wales _____________235

Dental Council of New South Wales _________________262

Medical Council of New South Wales ________________289

Medical Radiation Practice Council of New South Wales ______________________________ 315

Nursing and Midwifery Council of New South Wales ____ 341

Occupational Therapy Council of New South Wales _____367

Optometry Council of New South Wales ______________394

Osteopathy Council of New South Wales _____________ 421

Pharmacy Council of New South Wales _____________ 448

Physiotherapy Council of New South Wales ___________476

Podiatry Council of New South Wales ________________503

Psychology Council of New South Wales _____________530


ABORIGINAL AND TORRES STRAIT ISLANDER HEALTH PRACTICE COUNCIL OF NSW

FINANCIAL STATEMENTSYEAR ENDED 30 JUNE 2015


STATEMENT BY MEMBERS OF THE COUNCILYEAR ENDED 30 JUNE 2015

Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Aboriginal and Torres Strait Islander Health Practice Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Aboriginal and Torres Strait Islander Health Practice Council of New South Wales as at 30 June 2015 and financial performance for the year ended.

2. The financial statements have been prepared in accordance with the provisions of Australian Accounting Standards, Accounting interpretations, the Public Finance and Audit Act 1983, the Public Finance and Audit Regulation 2010, and the Treasurer’s Directions.

Further, we are not aware of any circumstances which would render any particulars included in the financial statements to be misleading or inaccurate.

Ms Lisa Penrith Mr Ian LinwoodPresident Deputy President

Date: 19 October 2015 Date: 19 October 2015

Aboriginal and Torres Strait Islander Health Practice Council of New South Wales


Aboriginal and Torres Strait Islander Health Practice Council of NSW

Statement of Comprehensive Income for the year ended 30 June 2015

2015 2014

Notes $ $

EXPENSES EXCLUDING LOSSES

Operating expenses

Personnel services 2(a) - (3,564)

Other operating expenses 2(b) (9,185) (11,735)

Other expenses 2(c) (52) (2,415)

Total Expenses Excluding Losses (9,237) (17,714)

REVENUE

Registration fees 1,741 1,057

Grants and contributions 1(n) 30,000 -

Interest revenue 4 312 337

Total Revenue 32,053 1,394

Gain/(Loss) on disposal - -

Net Result 22,816 (16,320)

Other comprehensive income - -

Total Comprehensive Income 22,816 (16,320)

The accompanying notes form part of these financial statements.



Statement of Financial Position as at 30 June 2015

2015 2014

Notes $ $

ASSETS

Current Assets

Cash and cash equivalents 5 28,852 6,137

Receivables 6 518 200

Total Current Assets 29,370 6,337

Non-Current Assets

Intangible assets - -

Total Non-Current Assets - -

Total Assets 29,370 6,337

LIABILITIES

Current Liabilities

Payables 7 4,262 4,644

Fees in advance 8 1,105 506

Total Current Liabilities 5,367 5,150

Total Liabilities 5,367 5,150

Net Assets 24,003 1,187

EQUITY

Accumulated funds 24,003 1,187

Total Equity 24,003 1,187




Statement of Changes in Equity for the year ended 30 June 2015

Accumulated Funds

Notes $

Balance at 1 July 2014 1,187

Net Result for the Year 22,816

Balance at 30 June 2015 24,003


Net result for the year (16,320)





Statement of Cash Flows for the year ended 30 June 2015

2015 2014

Notes $ $

CASH FLOWS FROM OPERATING ACTIVITIES

Payments

Personnel services (277) (3,264)

Council fees (6,076) (6,327)

Sitting fee costs (419) (1,350)

Audit fees (2,690) (2,625)

Occupancy costs - (1,392)

Temporary labour costs - (47)

Other expenses (145) (1,215)

Total Payments (9,607) (16,220)

Receipts

Receipts from registration fees 2,010 1,210

Interest received 312 337

Other 1(n) 30,000 -

Total Receipts 32,322 1,547

Net Cash Flows from Operating Activities 12 22,715 (14,673)

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from sale of plant and equipment

Purchases of plant and equipment and intangible assets - -

Net Cash Flows from Investing Activities - -

CASH FLOWS FROM FINANCING ACTIVITIES

Cash Flows From Financing Activities - -

Net Cash Flows from Financing Activities - -

Net Increase/(Decrease) in Cash 22,715 (14,673)

Opening cash and cash equivalents 6,137 20,810

Closing Cash and Cash Equivalents 5 28,852 6,137



Notes to the Financial Statements 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Reporting Entity The Aboriginal and Torres Strait Islander Health Practice Council of New South Wales

(the Council), established on 1 July 2012 as a not-for-profit reporting entity with no cash generating units, performs the duties and functions contained in the Health Practitioner Regulation National Law (NSW) No 86a (the Law).

These financial statements for the year ended 30 June 2015 have been authorised for issue by the Council on 15 October 2015.

b. Basis of Preparation The Council has adopted the non going concern basis in the preparation of the financial

statements as it has been unable to secure sufficent funding to ensure it can continue operating. The adoption of the non going concern basis of accounting has not required any adjustments to the valuation of assets and labilities reported in the statement of financial position.

The Council’s financial statements are general purpose financial statements and have been prepared in accordance with:

• applicable Australian Accounting Standards (which include Australian Accounting Interpretations), and

• the requirements of the Public Finance and Audit Act 1983 and Regulation.

The financial statements have been prepared on the basis of historical cost.

Judgements, key assumptions and estimations management has made are disclosed in the relevant notes to the financial statements.

All amounts are rounded to the nearest dollar and are expressed in Australian currency.

c. Statement of Compliance The financial statements and notes comply with Australian Accounting Standards, which

include Australian Accounting Interpretations.

d. Significant Accounting Judgments, Estimates and Assumptions The agreed cost sharing arrangements for the distribution of pooled costs between Health

Professional Councils were introduced effective 1 July 2012.

During August 2014 the NSW Health Professional Councils agreed to waive and absorb the obligation by the Aboriginal and Torres Strait Islander Health Practitioner Council of New South Wales for the allocation of indirect pooled costs effective 1 July 2014 to 30 June 2015.

During August 2014 the following NSW Health Professional Councils being Chiropractic Council of New South Wales, Occupational Therapy Council of New South Wales and Physiotherapy Council of New South Wales agreed to waive and absorb the obligation by the Aboriginal and Torres Strait Islander Health Practitioner Council of New South Wales for the allocation of direct labour costs effective 1 July 2014 to 30 June 2015.



These indirect costs are shown as part of the Council’s statement of comprehensive income under the following expense line items:

1. Personnel services 2. Rent and building expenses 3. Contracted labour 4. Depreciation and Amortisation 5. Postage and Communication 6. Printing and Stationery

e. Insurance The Council’s insurance activities are conducted through the NSW Treasury Managed Fund

Scheme of self-insurance for Government entities. The expense (premium) is determined by the Fund Manager based on past claim experience.

f. Accounting for the Goods and Services Tax (GST) Income, expenses and assets are recognised net of the amount of GST, except that:

• the amount of GST incurred by the Council as a purchaser that is not recoverable from the Australian Taxation Office is recognised as part of the cost of acquisition of an asset or as part of an item of expense, and

• receivables and payables are stated with the amount of GST included.

Cash flows are included in the statement of cash flows on a gross basis. However, the GST components of cash flows arising from investing and financing activities which are recoverable from, or payable to, the Australian Taxation Office are classified as operating cash flows.

g. Income Recognition Income is measured at the fair value of the consideration or contribution received or

receivable.

The National Registration and Accreditation Scheme (NRAS) for all health professionals commenced on 1 July 2010. NSW opted out of the complaint handling component of the National scheme and the health professional Councils were established in NSW effective from 1 July 2010 to manage the complaints function in a co-regulatory arrangement with the NSW Health Care Complaints Commission (HCCC). The Council was established on 1 July 2012 upon joining the NRAS.

Under s 26A of the Law, the complaints element of the registration fees payable by NSW health practitioners was decided by the Council established for that profession subject to approval by the Minister for Health.

The Council, under the Law, receives fees on a monthly basis from the Australian Health Practitioner Regulation Agency (AHPRA) being the agreed NSW complaints element for the 2015 registration fee.

Fees are progressively recognised as income by the Council as the annual registration period elapses. Fees in advance represent unearned income at balance date.


Notes to the Financial Statements (continued)


h. Personnel Services In accordance with an agreed Memorandum of Understanding, the Ministry of Health (MOH)

being the employer charges the Council for personnel services relating to the provision of all employees. Staff costs are shown in the Statement of Comprehensive Income as personnel services in the financial statements of the Council. Amounts owing for personnel services in the Statement of Financial Position represent amounts payable to the MOH in respect of personnel services.

i. Interest Revenue Interest revenue is recognised using the effective interest method as set out in AASB 139

Financial Instruments: Recognition and Measurement.

j. Assets i. Acquisition of Assets

The cost method of accounting is used for the initial recording of all acquisitions of assets controlled by the Council. Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire the asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognised in accordance with the requirements of other Australian Accounting Standards.

Assets acquired at no cost, or for nominal consideration, are initially recognised at their historical cost at the date of acquisition.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Where payment for an item is deferred beyond normal credit terms, its cost is the cash price equivalent, i.e. the deferred payment amount is effectively discounted at an asset-specific rate.

ii. Capitalisation Thresholds The Health Professional Councils Authority (HPCA) acquires all assets on behalf of the

Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are Nil (all Council shared use asset), or Nil (Pitt Street shared use asset), whichever is applicable.

iii. Depreciation of Plant, Equipment and Leasehold Improvements

Depreciation and amortisation is provided for on a straight-line basis for all depreciable assets so as to write off the amounts of each asset as it is consumed over its useful life to the Council.




iv. Loans and Receivables Loans and receivables are recognised initially at fair value, usually based on the transaction

cost or face value. Subsequent measurement is at amortised cost using the effective interest method, less an allowance for any impairment of receivables. Short-term receivables with no stated interest rate are measured at the original invoice amount where the effect of discounting is immaterial. An allowance for impairment of receivables is established when there is objective evidence that the Council will not be able to collect all amounts due. The amount of the allowance is the difference between the assets carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. Bad debts are written off as incurred.

Depreciation and amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

Depreciation rates used are as follows: Plant and equipment 20% - 25% Furniture and fittings 16% - 20% Motor vehicles 25% - 29% Leasehold improvements 17% - 27.8%

v. Fair Value of Plant and Equipment There has been no revaluation on any of the Council’s plant and equipment as they are

non-specialised assets. Non-specialised assets with short useful lives are measured at depreciated historical cost as a surrogate for fair value.

vi. Maintenance Day-to-day servicing costs or maintenance are charged as expenses as incurred, except

where they relate to the replacement of a component of an asset, in which case the costs are capitalised and depreciated.




k. Liabilities i. Trade and Other Payables

These amounts represent liabilities for goods and services provided to the Council and other amounts. Payables are recognised initially at fair value, usually based on the transaction cost or face value. Short-term payables with no stated interest rates are measured at the original invoice amount where the effect of discounting is immaterial.

ii. Personnel Services – Ministry of Health In accordance with an agreed Memorandum of Understanding, personnel services are

acquired from the MOH. As such the MOH accounting policy is below.

Liabilities for salaries and wages (including non-monetary benefits), recreation leave and paid sick leave that are due to be settled within 12 months after the end of the period in which the employees render the service are recognised and measured in respect of employees’ services up to the reporting date at undiscounted amounts based on the amounts expected to be paid when the liabilities are settled.

In accordance with NSWTC 15/09 ‘Accounting for Long Service Leave and Annual Leave’, the Council’s annual leave has been assessed as a short-term liability as these short-term benefits are expected to be settled wholly before 12 months after the end of the annual reporting period in which the employee renders the related services.

Unused non-vesting sick leave does not give rise to a liability as it is not considered probable that sick leave taken in the future will be greater than the benefits accrued in the future.

The outstanding amounts of payroll tax, workers’ compensation insurance premiums and fringe benefits tax, which are consequential to employment, are recognised as liabilities and expenses where the employee benefits to which they relate have been recognised.

All employees receive the Superannuation Guarantee Levy contribution. All superannuation benefits are provided on an accumulation basis – there are no defined benefits. Contributions are made by the entity to an employee superannuation fund and are charged as an expense when incurred.

l. Equity Accumulated Funds

The category ‘Accumulated Funds’ includes all current and prior period funds.

m. Comparative information Except when an Australian Accounting Standard permits or requires otherwise, comparative

information is disclosed in respect of the previous period for all amounts reported in the financial statements.




n. Grants and contributions There were two grants received from the Ministry of Health during 2015 ($10,000 for 2014/15

expenditures, $20,000 for 2015/16 expenditures) which been recorded as ‘income’ in the year of receipt. The grants are subject to the following conditions:

i. The grants are for the purposes of contributing to the running costs of the Council.

ii. Other than the grant for $10,000 for 2014/15 expenditures, if asked by the Ministry of Health, an account of the monies spent must be provided to the Ministry.

iii. Other than the grant for $10,000 for 2014/15 expenditures, if there are any of the unspent monies from the grants on 1 July 2015 and 1 July 2016 then, as soon as practicable after 1 July 2015 and 1 July 2016, the HPCA is to advise the Ministry of Health (Legal Branch) who will then determine whether the unspent monies should be returned to the Ministry of Health or continue to be used for the purposes of running the Aboriginal and Torres Strait Islander Health Practitioner Council.

o. Cash and cash equivalents Cash and cash equivalent assets in the statement of financial position would normally

comprise cash on hand, cash at bank and short-term deposits and include deposits in the NSW Treasury Corporation’s Hour-Glass cash facility, other Treasury Corporation deposits (less than 90 days) and other at-call deposits that are not quoted in the active market.

Bank overdrafts are included within liabilities.

p. Adoption of New and Revised Accounting Standards A number of new standards were applied from 1 July 2014, including AASB 10 Consolidated

Financial Statements and AASB 128 Investments in Associates and Joint Ventures. The application of these new standards did not have a significant impact on the financial statements.

A number of new standards, amendments to standards and interpretations are effective for annual periods beginning after 1 July 2015, and have not been applied in preparing these financial statements. None of these are expected to have a significant effect on the financial statements of the Council.

NSW Treasury issued TC15/03 circular which states none of the new revised Standards of Interpretations are to be adopted early.

The standards that are relevant to the Council are as follows:

a) AASB 9, AASB 2010-7 and AASB Financial Instruments 2012-6 regarding financial instruments (2015/2016)

b) AASB 2014-4 regarding acceptable methods of depreciation and amortisation




2. EXPENSES EXCLUDING LOSSES

a. Personnel Services Expenses

Personnel services expenses are acquired from the MOH and comprise the following:

2015 2014

$ $

Salaries and wages (including recreation leave) - 3,074

Superannuation - 265

Payroll taxes - 201

Worker’s compensation insurance - 24

- 3,564

b. Other Operating Expenses

2015 2014

$ $

Auditor’s remuneration 2,690 2,625

Rent and building expenses - 1,386

Council fees 6,076 6,327

Sitting fees 419 1,350

Contracted labour - 47

9,185 11,735

c. Other Expenses

2015 2014

$ $

Subsistence and transport 5 1,503

Fees for service 7 292

Postage and communication - 50

Printing and stationery - 537

General administration expenses 40 33

52 2,415

3. EXPENDITURE MANAGED ON BEHALF OF THE COUNCIL THROUGH THE NSW MINISTRY OF HEALTH

The Council’s accounts are managed by the NSW Ministry of Health (MOH). Executive and administrative support functions are provided by the HPCA, which is an executive agency of the MOH.






4. INTEREST REVENUE

2015 2014

$ $

Interest revenue from financial assets not at fair value through profit or loss 312 337

312 337

The guaranteed credit interest rate is calculated on daily balances as per the RBA cash rate plus an agreed fixed margin for five years.

2015 2014

% %

Average Interest Rate 3.2 2,69

5. CASH AND CASH EQUIVALENTS

2015 2014

$ $

Cash at bank - held by HPCA* 28,852 6,137

28,852 6,137

* This is cash held by the HPCA, an executive agency of the MOH, on behalf of the Council for its operating activities.

6. RECEIVABLES

2015 2014

$ $

Prepayments - 16

Other receivables 158 154

Interest receivable - -

Trade receivables 360 30

Less: allowance for impairment - -

518 200

No receivables are considered impaired.

The trade receivables include monies that AHPRA has collected from registrants as at 30 June 2015 and has remitted the monies to HPCA in July 2015.

There were no Trade Debtor’s past due.




7. PAYABLES

2015 2014

$ $

Personnel services - Ministry of Health - 276

Trade and other payables 4,262 4,368

4,262 4,644

8. FEES IN ADVANCE

2015 2014

$ $

Current

Registration fees in advance 1,105 506

1,105 506

Registration fees in advance is the unearned revenue from NSW Regulatory Fees received on behalf of the Council by the HPCA from the AHPRA.

9. COMMITMENTS FOR EXPENDITURE

Operating Lease Commitments

Future non-cancellable operating lease rentals not provided for and payable:

2015 2014

$ $

Not later than one year 853 434

Later than one year and not later than five years 361 654

Total (including GST) 1,214 1,088

10. RELATED PARTY TRANSACTIONS

The Council has only one related party, being the HPCA, an executive agency of the MOH.

The Council’s accounts are managed by the MOH. Executive and administrative support functions are provided by the HPCA. All accounting transactions as disclosed on Statement of Comprehensive Income are carried out by the HPCA on behalf of the Council.




11. CONTINGENT LIABILITIES AND CONTINGENT ASSETS

There are no material contingent assets or liabilities as at 30 June 2015.

12. RECONCILIATION OF NET RESULT TO CASH FLOWS FROM OPERATING ACTIVITIES

2015 2014

$ $

Net result 22,816 (16,320)

Increase/(Decrease) in receivables (318) (200)

Increase/(Decrease) in fees in advance 599 183

Increase/(Decrease) in payables (382) 1,664

Net Cash used on Operating Activities 22,715 (14,673)

13. FINANCIAL INSTRUMENTS

The Council’s principal financial instruments are outlined below. These financial instruments arise directly from the entity’s operations or are required to finance the Council’s operations. The Council’s main risks arising from financial instruments are outlined below, together with the Council’s objectives, policies and processes for measuring and managing risk. Further quantitative and qualitative disclosures are included throughout the financial statements.

The Council has overall responsibility for the establishment and oversight of risk management and reviews and agrees on policies for managing each of these risks.

a. Financial Instrument Categories

Financial Assets Notes CategoryCarrying Amount

Carrying Amount

Class 2015 2014

$ $

Cash and cash equivalents 5 N/A 28,852 6,137

Receivables ¹ 6 Loans and receivables (measured at amortised cost) 360 30


Carrying Amount

Class 2015 2014

$ $

Payables 2 7 Financial liabilities (measured at amortised cost) 4,262 4,644

Notes: 1. Excludes statutory receivables and prepayments (i.e. not within scope of AASB 7). 2. Excludes statutory payables and unearned revenue (i.e. not within scope of AASB 7).3. There are no financial instruments accounted for at fair value.




b. Credit Risk

Credit risk arises when there is the possibility of the Council’s debtors defaulting on their contractual obligations, resulting in a financial loss to the Council. The maximum exposure to credit risk is generally represented by the carrying amount of the financial assets (net of any allowance for impairment).

Credit risk arises from the financial assets of the Council, including cash, receivables, and authority deposits. No collateral is held by the Council. The Council has not granted any financial guarantees.

Cash Cash comprises cash on hand and bank balances held by the Council and the HPCA on behalf of the Council. Interest is earned on the daily bank balances.

Receivables - Trade Debtors All trade debtors are recognised as amounts receivable at balance date. Collectability of trade debtors is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. An allowance for impairment is raised when there is objective evidence that the entity will not be able to collect all amounts due. This evidence includes past experience, and current and expected changes in economic conditions and debtor credit ratings. No interest is earned on trade debtors. The Council is materially exposed to concentrations of credit risk to a single trade debtor or group of debtors. This is somewhat mitigated by an agreed Memorandum of Understanding (MOU) between HPCA and AHPRA on behalf of the Councils and payment of debt in a timely manner.

c. Liquidity Risk Liquidity risk is the risk that the Council will be unable to meet its payment obligations when they fall due. The HPCA on behalf of the Council continuously manages risk through monitoring future cash flows and maturities planning to ensure adequate holding of high quality liquid assets.

The liabilities are recognised for amounts due to be paid in the future for goods or services received, whether or not invoiced. Amounts owing to suppliers (which are unsecured) are settled in accordance with the policy set out in Treasurer’s Direction 219.01. If trade terms are not specified, payment is made no later than the end of the month following the month in which an invoice or a statement is received. Treasurer’s Direction 219.01 allows the Minister to award interest for late payment.

All payables are current and will not attract interest payments.

d. Market Risk The Council does not have exposure to market risk on financial instruments.

e. Interest Rate Risk

The Council has minimal exposure to interest rate risk from its holdings in interest bearing financial assets. The Council has an arrangement with the Westpac Bank where all cash and cash equivalents are sitting in an interest bearing bank account earning the Reserve Bank of Australia (RBA) Cash Rate + basis points margin. The Council does not account for any fixed rate financial instruments at fair value through profit or loss or as available-for-sale. A reasonably possible change of +/- 1% is used, consistent with current trends in interest rates. The basis will be reviewed annually and amended where there is a structural change in the level of interest rate volatility. The RBA Cash Rate has decreased over the year as follows - June 30 2014 - 2.5% to June 30 2015 - 2.0%.

14. EVENTS AFTER THE REPORTING PERIOD There are no events after the reporting period to be included in the financial statements as of

30 June 2015.

End of Audited Financial Statements



CHINESE MEDICINE COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Chinese Medicine Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Chinese Medicine Council of New South Wales as at 30 June 2015 and financial performance for the year ended.



Associate Professor Christopher Zaslawski Ms Christine BerlePresident Deputy President


Chinese Medicine Council of New South Wales


Chinese Medicine Council of NSW


2015 2014

Notes $ $


Operating expenses

Personnel services 2(a) (69,412) (93,181)


Depreciation and amortisation 2(c) (1,854) (3,744)

Finance costs 2(d) (77) (128)

Other expenses 2(e) (13,239) (17,156)


REVENUE


Interest revenue 4(a) 33,642 19,753

Other revenue 4(b) 783 1,761


Gain/(Loss) on disposal 5 (1,118) (2,723)

Net Result 415,617 309,645

Total Comprehensive Income 415,617 309,645





2015 2014

Notes $ $

ASSETS

Current Assets

Cash and cash equivalents 6 1,213,694 781,558

Receivables 7 26,154 3,844

Total Current Assets 1,239,848 785,402

Non-Current Assets

Plant and equipment 8

Leasehold improvements 3,577 511

Motor vehicles 11 84

Furniture and fittings 91 183

Office equipment 741 1,356

Total plant and equipment 4,420 2,134

Intangible assets 9 3,356 2,456

Total Non-Current Assets 7,776 4,590

Total Assets 1,247,624 789,992

LIABILITIES

Current Liabilities

Payables 10 29,889 31,276

Fees in advance 11 232,348 191,628


Non-Current Liabilities

Provisions 12 5,717 3,035

Total Non-Current Liabilities 5,717 3,035


Net Assets 979,670 564,053

EQUITY


Total Equity 979,670 564,053





Accumulated Funds

Notes $





Net result for the year 309,645






2015 2014

Notes $ $


Payments

Personnel services (74,571) (96,675)

Council fees (11,640) (11,242)

Sitting fee costs (4,326) (8,808)

Audit fees (5,510) (5,412)

Occupancy costs (12,132) (14,390)

Temporary labour costs (7,374) (6,847)

Other expenses (9,242) (26,961)

Total Payments (124,795) (170,335)

Receipts


Interest received 33,643 20,344


Net Cash Flows from Operating Activities 16 434,905 314,028


Purchases of plant and equipment and intangible assets (2,770) (834)

Net Cash Flows from Investing Activities (2,770) (834)




Net Increase/(Decrease) in Cash 432,135 313,194


Closing Cash and Cash Equivalents 6 1,213,693 781,558





a. Reporting Entity The Chinese Medicine Council of New South Wales (the Council) is a not-for-profit reporting

entity with no cash generating units, performs the duties and functions contained in the Health Practitioner Regulation National Law (NSW) No 86a (the Law). The Council was established on 1 July 2012 upon joining the NRAS.


b. Basis of Preparation The Council has adopted the going concern basis in the preparation of the financial statements.










Professional Councils were introduced effective 1 July 2012 other than a revision to the allocation of indirect personnel services to Councils.











receivable.



















Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are $36 (2013/2014 - $48) (all Council shared use asset), or $56 (2013/2014 - $76) (Pitt Street shared use asset), whichever is applicable.

iii. Impairment of Plant and Equipment

As a not-for-profit entity with no cash generating units, AASB 136 Impairment of Assets effectively is not applicable. AASB 136 modifies the recoverable amount test to the higher of fair value less costs to sell and depreciated replacement cost. This means that, where an asset is already measured at fair value, impairment can only arise if selling costs are material. Selling costs for the entity are regarded as immaterial.

iv. Depreciation of Plant, Equipment and Leasehold Improvements Depreciation and amortisation is provided for on a straight-line basis for all depreciable assets

so as to write off the amounts of each asset as it is consumed over its useful life to the Council.


Depreciation rates used are as follows:

Plant and equipment 20% - 25% Furniture and fittings 16% - 20% Motor vehicles 25% - 29% Leasehold improvements 17% - 27.8%





non-specialised assets. Non-specialised assets with short useful lives are measured at depreciated historical cost as a surrogate for fair value .



vii. Intangible Assets The Council recognises intangible assets only if it is probable that future economic benefits

will flow to the entity and the cost of the asset can be measured reliably. Intangible assets are measured initially at cost. Where an asset is acquired at no or nominal cost, the cost is its fair value as at the date of acquisition.

All research costs are expensed. Development costs are only capitalised when certain criteria are met.

The useful lives of intangible assets are assessed to be finite.

Intangible assets are subsequently measured at fair value only if there is an active market. As there is no active market for the entity’s intangible assets, the assets are carried at cost less any accumulated amortisation.

Intangible assets are tested for impairment where an indicator of impairment exists. If the recoverable amount is less than its carrying amount, the carrying amount is reduced to recoverable amount and the reduction is recognised as an impairment loss.

The Council’s intangible assets are amortised using the straight line method over a period of four years. In general, intangible assets are tested for impairment where an indicator of impairment exists. However, as a not-for-profit entity with no cash generating units, the Council is effectively exempted from impairment testing.

viii. Loans and Receivables Loans and receivables are recognised initially at fair value, usually based on the transaction

cost or face value. Subsequent measurement is at amortised cost using the effective interest method, less an allowance for any impairment of receivables. Short-term receivables with no stated interest rate are measured at the original invoice amount where the effect of discounting is immaterial. An allowance for impairment of receivables is established when there is objective evidence that the Council will not be able to collect all amounts due. The amount of the allowance is the difference between the assets carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. Bad debts are written off with approval of the Council as incurred.













iii. Provision for Make Good Provisions include the Council’s proportionate liability (allocated to the Council using an

appropriate allocation method) of the estimated make good liability, discounted to today’s present value.








n. Cash and cash equivalents Cash and cash equivalent assets in the statement of financial position would normally



o. Adoption of New and Revised Accounting Standards A number of new standards were applied from 1 July 2014, including AASB 10 Consolidated













2015 2014

$ $

Salaries and wages (including recreation leave) 59,175 79,707

Superannuation 5,173 7,467

Payroll taxes 4,783 5,430

Worker’s compensation insurance 281 577

69,412 93,181


2015 2014

$ $


Rent and building expenses 11,792 13,909


Sitting fees 4,326 7,593

Contracted labour 7,374 6,847

40,642 45,003

c. Depreciation and Amortisation Expense

2015 2014

$ $

Depreciation




647 1,455

Amortisation

Leasehold improvement 133 369

Intangible assets 1,074 1,920

1,207 2,289

Total Depreciation and Amortisation 1,854 3,744





d. Finance Costs

2015 2014

$ $

Unwinding of discount rate on make good provision 77 128

77 128

e. Other Expenses

2015 2014

$ $

Subsistence and transport 2,768 2,526

Fees for service 7,386 9,892

Postage and communication 785 1,306

Printing and stationery 845 1,863

Equipment and furniture 30 8

General administration expenses 1,425 1,561

13,239 17,156



In accordance with an agreed Memorandum of Understanding, salaries and associated oncosts are paid by the MOH. The MOH continues to pay for the staff and associated oncosts. These costs are reimbursed by the Council to the MOH.

4. (a) INTEREST REVENUE

2015 2014

$ $

Interest revenue from financial assets not at fair value through profit or loss 33,642 19,753

33,642 19,753


2015 2014

% %

Average Interest Rate 3.2 2.69




4. (b) OTHER REVENUE

2015 2014

$ $

Make good revenue resulting from decrease in make good - 567

Profit on re-allocation of Make good 783 1,194

Other Revenue - -

783 1,761

5. GAIN/(LOSS) ON DISPOSAL/ADDITIONS

2015 2014

$ $

Plant and equipment

Net book value (disposed)/acquired during the year - -

Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements

(607) (1,337)

Gain/(Loss) on disposal/additions during the year (607) (1,337)

Intangible assets


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements

(511) (1,386)

Gain/(Loss) on disposal/additions during the year (511) (1,386)

Total Gain/(Loss) on Disposal/Additions (1,118) (2,723)

Included in the above Gain/(Loss) on disposal are adjustments arising from the Council’s prior year decision to adopt a significant accounting policy, an agreed cost sharing arrangement for the distribution of pooled costs between health professional Councils and to dispose or acquire of a portion of its share of the opening carrying values of the pooled assets. Refer Note 1 (d).





2015 2014

$ $

Cash at bank and on hand 36,061 -

Cash at bank - held by HPCA* 1,177,633 781,558

1,213,694 781,558


The Council operates the bank accounts shown below:

2015 2014

Notes $ $

Education and research account** 3 36,061 -

36,061 -

** managed by the HPCA, an executive agency of the MOH.

7. RECEIVABLES

2015 2014

$ $

Prepayments 573 405

Other receivables 917 971

Interest receivable 3 4

Trade receivables 24,661 2,464


26,154 3,844







8. PLANT AND EQUIPMENT

The Council has an interest in plant and equipment used by all health professional Councils. Plant and equipment is not owned individually by the Council. The amounts recognised in the financial statements have been calculated based on the benefits expected to be derived by the Council.

Leasehold Improvements

Motor Vehicles

Furniture & Fittings

Office Equipment Total

$ $ $ $ $

At 1 July 2014

Gross carrying amount 1,162 280 307 10,005 11,754

Accumulated depreciation and impairment (651) (196) (124) (8,649) (9,620)

Net Carrying Amount 511 84 183 1,356 2,134

At 30 June 2015



Net Carrying Amount 3,577 11 91 741 4,420

Reconciliation

A reconciliation of the carrying amount of each class of plant and equipment at the beginning and end of the current reporting period is set out below:


Motor Vehicles



$ $ $ $ $

Year Ended 30 June 2015

Net carrying amount at start of year 511 84 183 1,356 2,134

Additions 3,388 - - 285 3,673

Other ¹ (189) (21) (47) (350) (607)

Depreciation (133) (52) (45) (550) (780)

Net Carrying Amount at End of Year 3,577 11 91 741 4,420




8. PLANT AND EQUIPMENT (continued)


Motor Vehicles



$ $ $ $ $

At 1 July 2013



Net Carrying Amount 1,414 216 330 2,927 4,887

At 30 June 2014




Reconciliation

A reconciliation of the carrying amount of each class of plant and equipment at the beginning and end of the prior reporting period is set out below:


Motor Vehicles



$ $ $ $ $


Net carrying amount at start of year 1,414 216 330 2,927 4,887

Additions - - - 408 408

Other ¹ (534) (62) (86) (655) (1,337)

Depreciation (369) (70) (61) (1,324) (1,824)

Net Carrying Amount at End of Year 511 84 183 1,356 2,134

1. Other includes: a. Adjustments required to opening balances due to the agreed Cost Allocation Methodology as at 1 July 2014 & 1 July 2013. b. Adjustments required to make good asset/liability in accordance with AASB 137.




9. INTANGIBLE ASSETS

The Council has an interest in intangible assets used by all health professional Councils. The assets are not owned individually by the Council. The amounts recognised in the financial statements have been calculated based on the benefits expected to be derived by the Council.

Software Work in

Progress Software Total

$ $ $

At 1 July 2014

Cost (gross carrying amount) 471 17,301 17,772

Accumulated amortisation and impairment - (15,316) (15,316)

Net Carrying Amount 471 1,985 2,456

At 30 June 2015

Cost (gross carrying amount) 2,956 12,842 15,798


Net Carrying Amount 2,956 400 3,356

Software Work in


$ $ $


Net carrying amount at start of year 471 1,985 2,456

Additions 2,485 - 2,485

Other ¹ - (511) (511)

Amortisation - (1,074) (1,074)

Net Carrying Amount at End of Year 2,956 400 3,356




9. INTANGIBLE ASSETS (continued)

Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 426 - 426

Other ¹ - (1,386) (1,386)


Net Carrying Amount at End of Year 471 1,985 2,456

1. Other includes: a. Adjustments required to opening balances due to the agreed Cost Allocation Methodology as at 1 July 2014 & 1 July 2013.




10. PAYABLES

2015 2014

$ $

Personnel services - Ministry of Health 6,529 11,968


29,889 31,276

11. FEES IN ADVANCE

2015 2014

$ $

Current

Registration fees in advance 232,348 191,628

232,348 191,628


12. PROVISIONS

2015 2014

$ $

Non-Current

Make good 5,717 3,035

5,717 3,035

Movement in Provisions (other than personnel services) Movements in each class of provision during the financial year, other than personnel services are set out below:

Make good 2015 2014

$ $

Carrying amount at the beginning of year 3,035 4,668

Increase/(Decrease) in provisions recognised due to re-allocation of opening balances at beginning of year

(783) (1,194)

Increase in provisions recognised 3,388 (567)

Unwinding/change in discount rate 77 128

Carrying Amount at the End of Year 5,717 3,035




12. PROVISIONS (continued)

The HPCA on behalf of Councils recognised a lease make good provision on entering into lease arrangements for Level 6, 477 Pitt Street. The provision was first included in the financial statements for 30 June 2013 and was based on a market-based estimate of the cost per square metre to make good the areas of the Pitt Street building that the HPCA occupies at the end of the lease.

As required under paragraph 59 of AASB 137, provisions are required to be reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the provision. The HPCA has recalculated the estimated lease make good provision as at 30 June 2015, taking into account the updated discount rate and inflation rates that are required under TC 11/17 and an updated estimate of the cost per square metre to make good the leased areas.

The impact of the changes to the three inputs to the overall lease make good provision has been to increase the required provision as at 30 June 2015.

The lease arrangements for the Pitt Street building will expire in November 2016.


Operating Lease Commitments Future non-cancellable operating lease rentals not provided for and payable:

2015 2014

$ $

Not later than one year 15,971 16,291

Later than one year and not later than five years 6,757 24,533











2015 2014

$ $

Net result 415,617 309,645

Depreciation and amortisation 1,854 3,744

Increase/(Decrease) in receivables (22,311) 1,755

Increase/(Decrease) in fees in advance 40,720 11,766

Increase/(Decrease) in payables (1,387) (13,973)

Increase/(Decrease) in provisions (706) (1,632)

Net gain/(loss) on sale of plant and equipment 1,118 2,723

Net Cash used on Operating Activities 434,905 314,028






Carrying Amount

Class 2015 2014

$ $

Cash and cash equivalents 6 N/A 1,213,694 781,558

Receivables ¹ 7 Loans and receivables (measured at amortised cost) 24,664 2,468

Financial Liabilities Notes CategoryCarrying Amount

Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.




CHIROPRACTIC COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Chiropractic Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Chiropractic Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Dr Anthony Richards Dr Lawrence WhitmanPresident Deputy President


Chiropractic Council of New South Wales


Chiropractic Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (20,673) (22,490)

Education and research expenses 3 - (6,000)


REVENUE



Other revenue 5(b) (4,648) 24,118


Gain/(Loss) on disposal/additions 6 (1,996) 2,174

Net Result (2,537) (8,733)

Other comprehensive income - -

Total Comprehensive Income (2,537) (8,733)





2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets









Total Assets 929,428 932,476

LIABILITIES

Current Liabilities

Payables 11 42,281 50,450

Fees in advance 12 76,534 71,432






Net Assets 804,046 806,583

EQUITY


Total Equity 804,046 806,583





Accumulated Funds

Notes $


Net Result for the Year (2,537)









2015 2014

Notes $ $


Payments


Council fees (8,471) (7,592)


Audit fees (5,510) (5,415)



NCAT Fixed Costs (17,760) (3,100)

Computer Services (12,155) (9,632)


Total Payments (212,220) (212,829)

Receipts



Other (6,071) 23,369


Net Cash Flows from Operating Activities 17 (1,227) 11,984


Purchases of plant and equipment and intangible assets (927) (3,409)

Net Cash Flows from Investing Activities (927) (3,409)




Net Increase/(Decrease) in Cash (2,154) 8,575







a. Reporting Entity The Chiropractic Council of New South Wales (the Council) as a not-for-profit reporting entity

with no cash generating units, performs the duties and functions contained in the Health Practitioner Regulation National Law (NSW) No 86a (the Law).
















1. Personnel services 2. Rent and building expenses 3. Contracted labour 4. Depreciation and amortisation 5. Postage and communication 6. Printing and stationery










receivable.

The National Registration and Accreditation Scheme for all health professionals commenced on 1 July 2010. NSW opted out of the complaint handling component of the National scheme and the health professional Councils were established in NSW effective from 1 July 2010 to manage the complaints function in a co-regulatory arrangement with the NSW Health Care Complaints Commission (HCCC).











j. Education and Research The Council is responsible for the administration of the Education and Research account.

The Minister for Health may determine that a set amount of funds out of the fees received to be transferred to the Education and Research account.

k. Assets i. Acquisition of Assets






Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are $41 (2013/2014- $63) (all Council shared use asset), or $64 (2013/2014 - $100) (Pitt Street shared use asset), whichever is applicable.

iii. Impairment of Plant and Equipment As a not-for-profit entity with no cash generating units, AASB 136 Impairment of Assets

effectively is not applicable. AASB 136 modifies the recoverable amount test to the higher of fair value less costs to sell and depreciated replacement cost. This means that, where an asset is already measured at fair value, impairment can only arise if selling costs are material. Selling costs for the entity are regarded as immaterial.









l. Liabilities i. Trade and Other Payables











m. Equity Accumulated Funds


n. Comparative information Except when an Australian Accounting Standard permits or requires otherwise, comparative








2015 2014

$ $





106,119 132,340


2015 2014

$ $





NSW Civil & Administrative Tribunal fixed costs 17,760 3,100


78,916 66,461


2015 2014

$ $

Depreciation




743 1,924

Amortisation



1,386 2,908






d. Finance Costs

2015 2014

$ $


88 170

e. Other Expenses

2015 2014

$ $







Loss on re-allocation of Make good - 1,096

20,673 22,490

3. EDUCATION AND RESEARCH

There has been no Education and Research expenditure during the Financial Year 2015.

Education and Research Expenses

2015 2014

$ $

Other expenses - 6,000

Total (excluding GST) - 6,000








2015 2014

$ $


29,820 26,895


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $

Make good revenue resulting from decrease in make good provision - 749

Profit on re-allocation of Make good 1,424 -

Legal fee recoveries (9,200) 18,536

Other Revenue 3,128 4,833

(4,648) 24,118





2015 2014

$ $

Plant and equipment


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements (1,066) 927

Gain/(Loss) on disposal/additions during the year - -

(1,066) 927

Intangible assets


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements (930) 1,247


(930) 1,247

Total Gain/(Loss) on Disposal/Additions (1,996) 2,174



2015 2014

$ $

Cash at bank and on hand 23,431 19,571


912,813 914,967



2015 2014

$ $

Education and research account** 23,431 19,571

23,431 19,571





8. RECEIVABLES

2015 2014

$ $

Prepayments 2,584 2,410

Other receivables 1,075 2,906




7,383 8,969










Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 3,891 - - 327 4,218

Other ¹ (304) (39) (87) (636) (1,066)

Depreciation (153) (60) (52) (631) (896)







Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - - - 539 539

Other ¹ (13) 51 77 812 927

Depreciation (371) (93) (81) (1,750) (2,295)








Software Work in


$ $ $

At 1 July 2014



Net Carrying Amount 3,097 2,623 5,720

At 30 June 2015




Software Work in


$ $ $


Net carrying amount at start of year 3,097 2,623 5,720

Additions 907 - 907

Other (307) (931) (1,238)







Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 2,869 - 2,869

Other ¹ - 1,247 1,247


Net Carrying Amount at End of Year 3,097 2,623 5,720





11. PAYABLES

2015 2014

$ $



42,281 50,450

12. FEES IN ADVANCE

2015 2014

$ $

Current


76,534 71,432


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 6,567 4,011

6,567 4,011


Make good 2015 2014

$ $



(1,424) 1,095














2015 2014

$ $













2015 2014

$ $

Net result (2,537) (8,733)


Increase/(Decrease) in receivables 1,586 (4,310)


Increase/(Decrease) in payables (8,168) 18,414

Increase/(Decrease) in provisions (1,335) 519

Net gain/(loss) on sale of plant and equipment 1,996 (2,174)

Net Cash used on Operating Activities (1,227) 11,984






Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $






b. Credit Risk




Receivables - Trade Debtors All trade debtors are recognised as amounts receivable at balance date. Collectability of trade debtors is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. An allowance for impairment is raised when there is objective evidence that the entity will not be able to collect all amounts due. This evidence includes past experience, and current and expected changes in economic conditions and debtor credit ratings. No interest is earned on trade debtors. The Council is materially exposed to concentrations of credit risk to a single trade debtor or group of debtors. This is somewhat mitigated by an agreed Memorandum of Understanding (MOU) between HPCA and AHPRA of behalf of the Councils and payment of debt in a timely manner.








30 June 2015.




DENTAL COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Dental Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Dental Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Conjoint Associate Professor William O’Reilly Mr David OwenPresident Deputy President


Dental Council of New South Wales


Dental Council of NSW


2015 2014

Notes $ $


Operating expenses




Finance costs 2(d) (1,017) (1,308)

Other expenses 2(e) (164,546) (179,664)

Education and research expenses 3 (139,477) 23,098

Total Expenses Excluding Losses (1,910,361) (1,827,805)

REVENUE

Registration fees 2,261,730 1,831,588


Other revenue 5(b) 1,144 15,228

Total Revenue 2,339,131 1,900,769

Gain/(Loss) on disposal/additions 6 (47,544) (32,586)

Net Result 381,226 40,378






2015 2014

Notes $ $

ASSETS

Current Assets

Cash and cash equivalents 7 2,397,860 1,896,411


Total Current Assets 2,431,739 1,923,524

Non-Current Assets


Leasehold improvements 63,730 68,850


Furniture and fittings 7,221 20,248

Office equipment 9,820 13,811




Total Assets 2,539,780 2,058,370

LIABILITIES

Current Liabilities

Payables 11 375,035 373,338

Fees in advance 12 930,326 873,954

Total Current Liabilities 1,305,361 1,247,292



Provisions 13 75,737 30,922


Total Liabilities 1,384,923 1,284,739

Net Assets 1,154,857 773,631

EQUITY

Accumulated funds 1,154,857 773,631

Total Equity 1,154,857 773,631





Accumulated Funds

Notes $



Balance at 30 June 2015 1,154,857








2015 2014

Notes $ $


Payments


Council fees (49,676) (43,508)


Audit fees (15,430) (15,210)


Consultants/Inspectors costs (122,225) (193,110)


Other expenses (292,056) (157,348)

Total Payments (1,875,477) (1,699,231)

Receipts

Receipts from registration fees 2,315,354 2,178,007


Other 60 4,719

Total Receipts 2,391,672 2,240,041



Proceeds from sale of plant and equipment - -

Purchases of plant and equipment and intangible assets (14,746) (15,804)

Net Cash Flows from Investing Activities (14,746) (15,804)





Opening cash and cash equivalents 1,896,411 1,371,405

Closing Cash and Cash Equivalents 7 2,397,860 1,896,411





a. Reporting Entity The Dental Council of New South Wales (the Council) as a not-for-profit reporting entity

























receivable.























m. Equity/Accumulated Funds The category ‘Accumulated Funds’ includes all current and prior period funds.









2015 2014

$ $




Worker’s compensation insurance 3,568 6,189

848,511 832,845


2015 2014

$ $



Dental Tribunal expenses 122,225 193,110


Sitting fees 198,654 162,285



717,922 742,284


2015 2014

$ $

Depreciation




11,410 20,819

Amortisation

Leasehold improvement 13,256 54,420


27,478 73,983






d. Finance Costs

2015 2014

$ $

Unwinding of discount rate on make good provision 1,017 1,308

1,017 1,308

e. Other Expenses

2015 2014

$ $


Funding contributions - -


Postage and communication 13,353 15,348

Printing and stationery 11,297 17,492



164,546 179,664



2015 2014

$ $

Grants 118,277 (41,418)

Other expenses 21,200 18,320

Total (excluding GST) 139,477 (23,098)

Excluded from the above Education & Research is $21,819 which is a restricted asset quarantined for dental technicians after de-registration of the profession from 1 July 2010. These surplus funds were derived from the former Dental Technicians Registration Board. The balance of the former Board’s funds was forwarded to the Dental Council for continued administration of Dental Prosthetists. Pursuant to clause 21 of Division 3 of Schedule 5A of the Health Practitioner Regulation National Law (NSW), the quarantined funds were allocated to the Dental Technicians Education Account (DTEA). The Dental Technicians Education Account Committee (the Committee) was formed to oversee the expenditure of the funds. Clause 21(3) provides that the money in the DTEA may only be expended for the purposes relating to the education of dental technicians.

The legislation requires that the funds be expended within 3 years of the establishment of the account. The account was not established until July 2012. The Council has until July 2015 to spend the remaining funds. The Council has spent the funds by the agreed date and hence no contingent liability note is required as at 30 June 2015.








2015 2014

$ $


76,257 53,953


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $

Make good revenue resulting from decrease in make good provision - 5,779

Profit on re-allocation of Make good 1,084 4,731

Practitioner fine - 4,400

Other Revenue 60 318

1,144 15,228





2015 2014

$ $

Plant and equipment


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements (46,844) (27,445)


(46,844) (27,445)

Intangible assets


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements (700) (5,141)


(700) (5,141)




2015 2014

$ $


Cash at bank - held by HPCA* 1,798,185 1,176,659

2,397,860 1,896,411



2015 2014

$ $


Dental Technician’s Education account 21,819 127,707

599,675 719,752





8. RECEIVABLES

2015 2014

$ $






33,879 27,113




Analysis of Trade Debtors Overdue $

2015 Total Past due but not impaired Considered impaired

< 3 months overdue - - -

3-6 months overdue - - -

> 6 months overdue - - -

2014



> 6 months overdue 50 50 -

Notes 1. Each column in the table represents the ‘gross receivables’. 2. The ageing analysis excludes statutory receivables that are not past due and not impaired.







Motor Vehicles



$ $ $ $ $

At 1 July 2014

Gross carrying amount 126,845 2,851 33,350 101,928 264,974

Accumulated depreciation and impairment (57,995) (1,996) (13,102) (88,117) (161,210)

Net Carrying Amount 68,850 855 20,248 13,811 103,764

At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $


Net carrying amount at start of year 68,850 855 20,248 13,811 103,764

Additions - - - 3,775 3,775

Other ¹ 8,136 (25) (9,590) (485) (1,964)

Depreciation (13,256) (692) (3,437) (7,281) (24,666)

Net Carrying Amount at End of Year 63,730 138 7,221 9,820 80,909






Motor Vehicles



$ $ $ $ $

At 1 July 2013



Net Carrying Amount 142,788 1,803 30,469 25,558 200,618

At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $


Net carrying amount at start of year 142,788 1,803 30,469 25,558 200,618

Additions - - 1,677 4,153 5,830

Other ¹ (19,518) (235) (5,286) (2,406) (27,445)

Depreciation (54,420) (713) (6,612) (13,494) (75,239)








Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 12,001 - 12,001

Other ¹ (1,029) (700) (1,729)

Amortisation - (14,222) (14,222)






Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 9,975 - 9,975

Other ¹ - (5,141) (5,141)

Amortisation - (19,563) (19,563)






11. PAYABLES

2015 2014

$ $



375,035 373,338

12. FEES IN ADVANCE

2015 2014

$ $

Current


930,326 873,954

Non-current


3,825 6,525


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 75,737 30,922

75,737 30,922


Make good 2015 2014

$ $



(1,084) (4,731)

Increase in provisions recognised 44,882 (5,779)

Unwinding/change in discount rate 1,017 1,308

Carrying Amount at the End of Financial Year 75,737 30,922











2015 2014

$ $













2015 2014

$ $

Net result 381,226 40,378


Increase/(Decrease) in receivables (6,766) (10,381)


Increase/(Decrease) in payables 1,698 52,406









Carrying Amount

Class 2015 2014

$ $

Cash and cash equivalents 7 N/A 2,397,860 1,896,411



Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.


New South Wales Health Professional Councils Annual Report 2015 289New South Wales Health Professional Councils Annual Report 2015 289




Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Medical Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Medical Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Dr Greg Kesby A/Professor Richard WalshPresident Deputy President



Medical Council of NSW


2015 2014

Notes $ $


Operating expenses

Personnel services 2(a) (3,322,962) (3,081,355)

Other operating expenses 2(b) (4,483,344) (3,586,595)


Other expenses 2(d) (1,768,350) (1,499,023)


REVENUE



Other revenue 4(b) 82,754 175,968

Total Revenue 12,763,272 11,897,882

Gain/(Loss) on disposal/additions 5 106,931 (10,800)

Net Result 3,035,484 3,324,015

Total Comprehensive Income 3,035,484 3,324,015





2015 2014

Notes $ $

ASSETS

Current Assets


Receivables 7 258,938 210,339


Non-Current Assets


Leasehold improvements 1,479,047 1,536,612

Motor vehicles 3,682 13,671



Total plant and equipment 1,674,748 1,758,306


Total Non-Current Assets 1,785,479 1,849,763

Total Assets 15,257,684 11,158,059

LIABILITIES

Current Liabilities

Payables 10 2,800,275 1,814,825

Fees in advance 11 3,198,041 3,119,350



Fees in advance 11 - -

Total Non-Current Liabilities - -


Net Assets 9,259,368 6,223,884

EQUITY

Accumulated funds 9,259,368 6,223,884

Total Equity 9,259,368 6,223,884





Accumulated Funds

Notes $

Balance at 1 July 2014 6,223,884

Net Result for the Year 3,035,484

Balance at 30 June 2015 9,259,368


Net result for the year 3,324,015

Balance at 30 June 2014 6,223,884





2015 2014

Notes $ $


Payments

Personnel services (3,353,942) (3,011,409)

Council fees (322,321) (276,916)

Sitting fee costs (2,494,550) (2,016,436)

Audit fees (23,040) (22,500)


Temporary labour costs (1,249,199) (836,638)

Other expenses (973,896) (1,563,781)

Total Payments (8,653,119) (7,954,846)

Receipts



Other 79,504 179,217

Total Receipts 12,857,278 12,081,706

Net Cash Flows from Operating Activities 15 4,204,159 4,126,860







Net Increase/(Decrease) in Cash 4,115,310 3,981,236







a. Reporting Entity The Medical Council of New South Wales (the Council) as a not-for-profit reporting entity















1. Personnel services 2. Contracted labour 3. Depreciation and Amortisation 4. Rent and building expenses










receivable.


















Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are $1,804 (2013/2014 - $1,822).







Plant and equipment 20% - 25% Furniture and fittings 16% - 20% Motor vehicles 25% - 29% Leasehold improvements 1.49% - 10.15%








2015 2014

$ $

Salaries and wages (including recreation leave) 2,862,960 2,630,464




3,322,962 3,081,355


2015 2014

$ $



Medical Tribunal expenses - 404,167

Council fees 322,321 276,916

Sitting fees 2,494,550 1,702,082


Contracted labour 1,249,199 836,638

4,483,344 3,586,595


2015 2014

$ $

Depreciation




75,724 24,744

Amortisation



184,339 371,350





d. Other Expenses

2015 2014

$ $


Funding contributions 80,000 91,000

Fees for service 1,298,860 965,723



Equipment and furniture 11,245 742


1,768,350 1,499,023


The HPCA, which is an Executive agency of the NSW Ministry of Health (MOH) provides executive and administrative support funcitons to Councils.



2015 2014

$ $


TCorp Hour Glass investment facility - 99

448,313 278,777


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $

Legal fee recoveries 68,707 137,471


82,754 175,968





2015 2014

$ $

Plant and equipment


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements 104,850 (6,310)


104,850 (6,310)

Intangible assets



Gain/(Loss) on disposal/additions during the year 2,081 (4,490)

Total Gain/(Loss) on Disposal/Additions 106,931 (10,800)






2015 2014

$ $



13,213,267 9,097,957



2015 2014

$ $

Education and research account** 100,541 -

100,541 -

** managed by the HPCA, an executive agency of the MOH.**Education & Research account opened with recommendation of Council in accordance with approval by the Minister.

Education and Research Account Reconciliation

2015 2014

Notes $ $

Opening balance at Start of year - -

Deposits 100,000 -

Interest 541 -

100,541 -

Outgoings - -

Closing Balance at End of year 100,541 -




7. RECEIVABLES

2015 2014

$ $





Less: allowance for impairment (3,775) (3,775)

258,938 210,339

Movement in the Allowance for Impairment 2015 2014

$ $

Balance at beginning of year 3,775 1,927

Amounts recovered during the year - -

Increase/(decrease) in allowance recognised in profit or loss - 1,848

Balance at end of year 3,775 3,775

Trade receivables have been considered for impairment.




< 3 months overdue 4,107 - -


> 6 months overdue 4,835 1,060 3,775

2014


3-6 months overdue 924 924 -

> 6 months overdue 5,623 1,848 3,775






Plant and equipment is owned individually by the Council and the Council also has an interest in plant and equipment used by all health professional Councils. The amounts recognised in the financial statements have been calculated based on the benefits expected to be derived by the Council.

Work in Progress

Software / Hardware

Leasehold Improve-

mentsMotor

VehiclesFurniture & Fittings


$ $ $ $ $ $

At 1 July 2014

Gross carrying amount - 3,615,799 28,622 354,065 706,060 4,704,546

Accumulated depreciation and impairment - (2,079,187) (14,951) (345,978) (506,124) (2,946,240)

Net Carrying Amount - 1,536,612 13,671 8,087 199,936 1,758,306

At 30 June 2015




Reconciliation


Work in Progress

Software / Hardware

Leasehold Improve-

mentsMotor



$ $ $ $ $ $


Net carrying amount at start of year - 1,536,612 13,671 8,087 199,936 1,758,306

Additions - - - - 34,532 34,532

Other ¹ - 82,740 (32) 22,142 (6,911) 97,939

Depreciation - (140,305) (9,957) (9,907) (55,860) (216,029)

Net Carrying Amount at End of Year 1,479,047 3,682 20,322 171,697 1,674,748





Work in Progress

Software / Hardware

Leasehold Improve-

mentsMotor



$ $ $ $ $ $

At 1 July 2013

Gross carrying amount 109,764 3,615,799 27,769 354,065 491,143 4,598,540


Net Carrying Amount 109,764 1,645,867 16,202 11,191 10,438 1,793,462

At 30 June 2014




Reconciliation


Work in Progress

Software / Hardware

Leasehold Improve-

mentsMotor



$ $ $ $ $ $


Net carrying amount at start of year 109,764 1,645,867 16,202 11,191 10,438 1,793,462

Additions - - - - 214,917 214,917

Transfer (109,764) - - - - (109,764)

Other ¹ - - 1,468 (51) (7,727) (6,310)

Depreciation - (109,255) (3,999) (3,053) (17,692) (133,999)

Net Carrying Amount at End of Year - 1,536,612 13,671 8,087 199,936 1,758,306






Intangible assets are owned individually by the Council and the Council has an interest in intangible assets used by all health professional Councils. The amounts recognised in the financial statements have been calculated based on the benefits expected to be derived by the Council.

Software Work in


$ $ $

At 1 July 2014

Cost (gross carrying amount) 42,957 1,892,625 1,935,582

Accumulated amortisation and impairment - (1,844,125) (1,844,125)


At 30 June 2015




Software Work in


$ $ $



Additions 63,351 - 63,351

Other ¹ (2,124) 2,081 (43)

Amortisation - (44,034) (44,034)






Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 32,462 8,012 40,474

Other ¹ - (4,490) (4,490)

Amortisation - (262,095) (262,095)






10. PAYABLES

2015 2014

$ $


Trade and other payables 2,509,824 1,478,577

2,800,275 1,814,825

11. FEES IN ADVANCE

2015 2014

$ $

Current

Registration fees in advance 3,198,041 3,119,350

3,198,041 3,119,350

Non-current

Registration fees in advance - -

- -




2015 2014

$ $



Later than five years 545,332 610,499

Total (including GST) 954,110 1,019,347










2015 2014

$ $

Net result 3,035,484 3,324,015


Allowance for impairment - -




Net gain/(loss) on sale of plant and equipment (106,931) 10,800

Net Cash used on Operating Activities 4,204,159 4,126,860






Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $

Payables 2 10 Financial liabilities (measured at amortised cost) 2,800,275 1,814,825





b. Credit Risk












30 June 2015.




MEDICAL RADIATION PRACTICE COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Medical Radiation Practice Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Medical Radiation Practice Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Ms Tracy Vitucci Dr Karen JovanovicPresident Deputy President


Medical Radiation Practice Council of New South Wales


Medical Radiation Practice Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (35,058) (32,781)


REVENUE






Net Result 370,239 367,540






2015 2014

Notes $ $

ASSETS

Current Assets

Cash and cash equivalents 7 1,245,362 897,458


Total Current Assets 1,252,865 904,791

Non-Current Assets



Motor vehicles 9 84






Total Assets 1,264,585 914,180

LIABILITIES

Current Liabilities

Payables 11 31,563 40,361

Fees in advance 12 198,478 211,411






Net Assets 1,029,637 659,398

EQUITY

Accumulated funds 1,029,637 659,398

Total Equity 1,029,637 659,398





Accumulated Funds

Notes $



Balance at 30 June 2015 1,029,637








2015 2014

Notes $ $


Payments


Council fees (13,485) (11,680)


Audit fees (5,510) (5,467)



Health assessment fees (7,816) (1,670)

Computer services (12,348) (7,774)

Travel expenses (4,680) (8,907)


Total Payments (173,244) (183,168)

Receipts













Closing Cash and Cash Equivalents 7 1,245,362 897,458





a. Reporting Entity The Medical Radiation Council of New South Wales (the Council), established on 1 July 2012,

as a not-for-profit reporting entity with no cash generating units, performs the duties and functions contained in the Health Practitioner Regulation National Law (NSW) No 86a (the Law).
























receivable.













The cost method of accounting is used for the initial recording of all acquisitions of assets controlled by the Council. Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire the asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognised in accordance with the requirements of other Australian Accounting Standards



Where payment for an item is deferred beyond normal credit terms, its cost is the cash price equivalent, i.e. the deferred payment amount is effectively discounted at an asset-specific rate


Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are $31 (2013-2014 - $48) (all Council shared use asset), or $48 (2013-2014 - $75) (Pitt Street shared use asset), whichever is applicable.




so as to write off the amounts of each asset as it is consumed over its useful life to the Council




v. Fair Value of Plant and Equipment

There has been no revaluation on any of the Council’s plant and equipment as they are non-specialised assets. Non-specialised assets with short useful lives are measured at depreciated historical cost as a surrogate for fair value .







2015 2014

$ $





53,264 82,471


2015 2014

$ $






76,871 62,008


2015 2014

$ $

Depreciation




556 1,445

Amortisation


Intangible assets 921 1,905

1,035 2,305






d. Finance Costs

2015 2014

$ $


66 127

e. Other Expenses

2015 2014

$ $







35,058 32,781







2015 2014

$ $


35,657 22,464


2015 2014

% %





(b) OTHER REVENUE

2015 2014

$ $


Profit on re-allocation of Make good 1,078 2,348

Legal fee recoveries - 500

1,078 3,410


2015 2014

$ $

Plant and equipment




(806) (2,500)

Intangible assets




(705) (2,658)







2015 2014

$ $



1,245,362 897,458



2015 2014

$ $


52,149 50,502


8. RECEIVABLES

2015 2014

$ $






7,503 7,333










Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 2,908 - - 245 3,153

Other ¹ (231) (30) (65) (482) (808)

Depreciation (114) (45) (39) (472) (670)







Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - - - 404 404

Other ¹ (848) (107) (167) (1,378) (2,500)

Depreciation (400) (69) (62) (1,314) (1,845)








Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 2,691 - 2,691

Other ¹ (410) (704) (1,114)

Amortisation - (921) (921)






Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 4,404 - 4,404

Other ¹ - (2,658) (2,658)







11. PAYABLES

2015 2014

$ $



31,563 40,361

12. FEES IN ADVANCE

2015 2014

$ $

Current


198,478 211,411


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 4,907 3,010

4,907 3,010


Make good 2015 2014

$ $



(1,078) (2,348)














2015 2014

$ $













2015 2014

$ $

Net result 370,239 367,540


Increase/(Decrease) in receivables (170) 4,650

Increase/(Decrease) in fees in advance (12,934) (5,555)

Increase/(Decrease) in payables (8,797) (994)

Increase/(Decrease) in provisions (1,012) (2,784)








Carrying Amount

Class 2015 2014

$ $

Cash and cash equivalents 7 N/A 1,245,362 897,458



Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.




NURSING AND MIDWIFERY COUNCIL OF NEW SOUTH WALES


Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Nursing and Midwifery Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Nursing and Midwifery Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Adj Professor John G Kelly AM Dr Bethne HartPresident Deputy President




Nursing and Midwifery Council of NSW


2015 2014

Notes $ $


Operating expenses

Personnel services 2(a) (3,149,027) (2,864,994)

Other operating expenses 2(b) (1,923,610) (2,043,295)


Finance costs 2(d) (3,511) (4,185)

Other expenses 2(e) (985,183) (973,199)

Education and research expenses 3 (80,004) (62,815)


REVENUE




Total Revenue 7,660,969 7,242,994

Gain/(Loss) on disposal/additions 6 (36,048) 88,999

Net Result 1,311,139 1,139,679

Total Comprehensive Income 1,311,139 1,139,679





2015 2014

Notes $ $

ASSETS

Current Assets


Receivables 8 494,657 434,972


Non-Current Assets



Motor vehicles 478 2,738






Total Assets 13,232,618 11,244,834

LIABILITIES

Current Liabilities

Payables 11 1,243,060 898,835

Fees in advance 12 6,452,036 6,268,836




Provisions 13 261,387 98,959



Net Assets 5,257,426 3,946,287

EQUITY


Total Equity 5,257,426 3,946,287





Accumulated Funds

Notes $


Net Result for the Year 1,311,139

Balance at 30 June 2015 5,257,426


Net result for the year 1,139,679

Balance at 30 June 2014 3,946,287





2015 2014

Notes $ $


Payments

Personnel services (3,216,678) (2,878,620)

Council fees (26,394) (26,864)

Audit fees (395,415) (510,182)

Audit fees (16,970) (18,853)


Consultants/Inspectors costs (36,600) -



Health Assesment Fees (343,141) (337,236)

NCAT Fixed Costs (217,980) (96,700)

Other expenses (66,746) (664,385)

Total Payments (5,804,475) (6,155,114)

Receipts



Other 155 2,429

Total Receipts 7,786,172 7,504,383

Net Cash Flows from Operating Activities 17 1,981,697 1,349,269







Net Increase/(Decrease) in Cash 1,854,535 1,304,311







a. Reporting Entity The Nursing and Midwifery Council of New South Wales (the Council) as a not-for-profit

reporting entity with no cash generating units, performs the duties and functions contained in the Health Practitioner Regulation National Law (NSW) No 86a (the Law).
























receivable.

The National Registration and Accreditation Scheme (NRAS) for all health professionals commenced on 1 July 2010. NSW opted out of the complaint handling component of the National scheme and the health professional Councils were established in NSW effective from 1 July 2010 to manage the complaints function in a co-regulatory arrangement with the NSW Health Care Complaints Commission (HCCC).



















Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are $1,638 (2013/2014 - $1,565) (all Council shared use asset), or $2,563 (2013/2014 - $2,463) (Pitt Street shared use asset), whichever is applicable.












There has been no revaluation on any of the Council’s plant and equipment as they are non-specialised assets. Non-specialised assets with short useful lives are measured at depreciated historical cost as a surrogate for fair value .


















2015 2014

$ $

Salaries and wages (including recreation leave) 2,697,886 2,434,755




3,149,027 2,864,994


2015 2014

$ $




Sitting fees 395,415 510,182



1,923,610 2,043,295


2015 2014

$ $

Depreciation




46,956 63,539

Amortisation



125,491 180,287






d. Finance Costs

2015 2014

$ $

Unwinding of discount rate on make good provision 3,511 4,185

3,511 4,185

e. Other Expenses

2015 2014

$ $





Equipment and furniture 4,884 1,245


Loss on re-allocation of Make good 4,021 3,541

985,183 973,199



2015 2014

$ $

Grants 5,000 -


Total (excluding GST) 80,004 62,815








2015 2014

$ $


279,142 203,016


2015 2014

% %

Average Interest Rate 3.20 2,54

(b) OTHER REVENUE

2015 2014

$ $


Other Revenue 155 2,429

155 20,921


2015 2014

$ $

Plant and equipment


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements (38,711) 86,328


(38,711) 86,328

Intangible assets


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements 2,663 2,671


2,663 2,671





6. GAIN/(LOSS) ON DISPOSAL/ADDITIONS (continued)



2015 2014

$ $



12,269,180 10,414,645



2015 2014

$ $


493,558 564,340


8. RECEIVABLES

2015 2014

$ $






494,657 434,972

Trade receivables have been considered for impairment.





8. RECEIVABLES (continued)





> 6 months overdue 1,347 1,347 -

2014



> 6 months overdue 174 174 -





Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015








Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 204,004 - 34,876 13,028 251,908

Other ¹ (31,475) 128 (9,160) 1,796 (38,711)

Depreciation (76,407) (2,388) (19,436) (25,132) (123,363)



Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation







Motor Vehicles



$ $ $ $ $



Additions - - 6,674 13,290 19,964

Other ¹ 66,613 (53) 20,105 (337) 86,328

Depreciation (117,681) (2,281) (18,075) (43,183) (181,220)

Net Carrying Amount at End of Year 182,033 2,738 56,356 44,199 285,326




Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 37,058 - 37,058

Other ¹ (6,907) 2,663 (4,244)

Amortisation - (49,084) (49,084)






Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 24,994 - 24,994

Other ¹ - 2,671 2,671

Amortisation - (62,606) (62,606)






11. PAYABLES

2015 2014

$ $


Trade and other payables 1,015,474 590,637

1,243,060 898,835

12. FEES IN ADVANCE

2015 2014

$ $

Current


6,452,036 6,268,836

Non-Current

Deferred other revenue 18,709 31,917

18,709 31,917


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 261,387 98,959

261,387 98,959


Make good 2015 2014

$ $



4,021 3,541


Unwinding/change in discount rate 3,511 4,185












2015 2014

$ $



Total (including GST) 637,175 1,349,039










2015 2014

$ $

Net result 1,311,139 1,139,679




Increase/(Decrease) in payables 344,225 (154,110)

Increase/(Decrease) in provisions 7,531 (10,763)

Net gain/(loss) on sale of plant and equipment 36,048 (88,999)

Net Cash used on Operating Activities 1,981,697 1,349,269






Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $

Payables 2 11 Financial liabilities (measured at amortised cost) 1,243,060 898,835





b. Credit Risk












30 June 2015.




OCCUPATIONAL THERAPY COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Occupational Therapy Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Occupational Therapy Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Mr Kim Nguyen Ms Katherine MoorePresident Deputy President


Occupational Therapy Council of New South Wales


Occupational Therapy Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (31,022) (23,962)

Education and research expenses 3 (7,402) -


REVENUE





Gain/(Loss) on disposal/additions 6 (267) (2,509)

Net Result 126,797 243,060






2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets









Total Assets 737,772 641,390

LIABILITIES

Current Liabilities

Payables 11 43,259 33,376

Fees in advance 12 105,040 149,316






Net Assets 582,664 455,867

EQUITY


Total Equity 582,664 455,867





Accumulated Funds

Notes $











2015 2014

Notes $ $


Payments


Council fees (11,346) (11,096)


Audit fees (5,510) (5,456)




Total Payments (181,849) (159,401)

Receipts


















a. Reporting Entity The Occupational Therapy Council of New South Wales (the Council), established on

1 July 2012, as a not-for-profit reporting entity with no cash generating units, performs the duties and functions contained in the Health Practitioner Regulation National Law (NSW) No 86a (the Law).















These indirect costs are shown as part of the Council’s statement of comprehensive income under the following expense line items: 1. Personnel services

2. Rent and building expenses 3. Contracted labour 4. Depreciation and Amortisation 5. Postage and Communication 6. Printing and Stationery










receivable.

















Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are $43 (2013-2014 - $45) (all council shared use asset) or $67 (2013-2014 - $70) (Pitt Street shared use asset), whichever is applicable.









There has been no revaluation on any of the Council’s plant and equipment as they are non-specialised assets. Non-specialised assets with short useful lives are measured at depreciated historical cost as a surrogate for fair value.







2015 2014

$ $





109,671 86,415


2015 2014

$ $






44,068 46,948


2015 2014

$ $

Depreciation




771 1,357

Amortisation



1,437 2,125






d. Finance Costs

2015 2014

$ $


91 120

e. Other Expenses

2015 2014

$ $







31,022 23,962


2015 2014

$ $

Other expenses 7,402 -

Total (excluding GST) 7,402 -








2015 2014

$ $


22,332 16,086


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $


Profit on re-allocation of Make good 148 1,128

148 1,657





2015 2014

$ $

Plant and equipment




(171) (1,263)

Intangible assets




(96) (1,246)

Total Gain/(Loss) on Disposal/Additions (267) (2,509)






2015 2014

$ $



720,085 625,478



2015 2014

$ $


44,577 50,997


8. RECEIVABLES

2015 2014

$ $




Trade receivables 908 2,159


5,273 6,955



There were no Trade Debtors past due.







Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 4,035 - - 339 4,374

Other ¹ (94) (4) (8) (66) (172)

Depreciation (158) (62) (54) (655) (929)







Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - - - 380 380

Other ¹ (512) (49) (82) (620) (1,262)

Depreciation (334) (65) (57) (1,235) (1,691)

Net Carrying Amount at End of Year 477 78 171 1,264 (1,990)







Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 1,955 - 1,955

Other ¹ (395) (97) (492)







Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 4,282 - 4,282

Other ¹ - (1,246) (1,246)







11. PAYABLES

2015 2014

$ $



43,259 33,376

12. FEES IN ADVANCE

2015 2014

$ $

Current


105,040 149,316


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 6,809 2,831

6,809 2,831


Make good 2015 2014

$ $



(148) (1,129)














2015 2014

$ $













2015 2014

$ $

Net result 126,797 243,060


Increase/(Decrease) in receivables 1,683 2,697

Increase/(Decrease) in fees in advance (44,276) (23,022)



Net gain/(loss) on sale of plant and equipment 267 2,509







Carrying Amount

Class 2015 2014

$ $


Receivables ¹ 8 Loans and receivables (measured at amortised cost) 910 2,162


Carrying Amount

Class 2015 2014

$ $






b. Credit Risk









e. Interest Rate Risk The Council has minimal exposure to interest rate risk from its holdings in interest bearing

financial assets. The Council has an arrangement with the Westpac Bank where all cash and cash equivalents are sitting in an interest bearing bank account earning the Reserve Bank of Australia (RBA) Cash Rate + basis points margin. The Council does not account for any fixed rate financial instruments at fair value through profit or loss or as available-for-sale. A reasonably possible change of +/- 1% is used, consistent with current trends in interest rates. The basis will be reviewed annually and amended where there is a structural change in the level of interest rate volatility. The RBA Cash Rate has decreased over the year as follows - June 30 2014 - 2.5% to June 30 2015 - 2.0%.


30 June 2015.




OPTOMETRY COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Optometry Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Optometry Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Mr Albert Lee Ms Pauline O’ConnorPresident Deputy President


Optometry Council of New South Wales


Optometry Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (18,759) (17,771)


REVENUE



Other revenue 5(b) 490 607


Gain/(Loss) on disposal/additions 6 (729) 1,762

Net Result 54,847 33,120






2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets









Total Assets 409,620 347,322

LIABILITIES

Current Liabilities

Payables 11 32,251 32,020







Net Assets 295,673 240,826

EQUITY


Total Equity 295,673 240,826





Accumulated Funds

Notes $











2015 2014

Notes $ $


Payments


Council fees (8,091) (7,593)


Audit fees (5,510) (5,417)





Total Payments (137,166) (147,227)

Receipts



Other - 33
















a. Reporting Entity The Optometry Council of New South Wales (the Council) as a not-for-profit reporting entity

























receivable.












j. Education and Research The Council is responsible for the administration of the Education and Research account. The

Minister for Health may determine that a set amount of funds out of the fees received to be transferred to the Education and Research account.





















2015 2014

$ $





81,040 96,598


2015 2014

$ $





NSW Civil & Administrative Tribunal fixed costs 1,620 -


37,594 34,958


2015 2014

$ $

Depreciation




742 1,473

Amortisation



1,382 2,221






d. Finance Costs

2015 2014

$ $


88 130

e. Other Expenses

2015 2014

$ $







Loss on re-allocation of Make good - 939

18,759 17,771










2015 2014

$ $


12,327 9,750


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $


Profit on re-allocation of Make good 490 -

Other Revenue - 33

490 607





2015 2014

$ $

Plant and equipment


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements (409) 795


(409) 795

Intangible assets




(320) 967

Total Gain/(Loss) on Disposal/Additions (729) 1,762






2015 2014

$ $



395,882 336,417



2015 2014

$ $


44,783 43,370


8. RECEIVABLES

2015 2014

$ $


Other receivables 908 1,342


Trade receivables 880 22


4,514 3,652










Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 3,882 - - 326 4,208

Other ¹ (149) (13) (30) (217) (409)

Depreciation (152) (60) (52) (630) (894)







Motor Vehicles



$ $ $ $ $

At 1 July 2013

Gross carrying amount 861 253 228 7,020 8,362



At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - - - 412 412

Other ¹ 17 19 66 693 795

Depreciation (279) (71) (62) (1,340) (1,752)








Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 944 - 944

Other ¹ (329) (319) (648)







Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 2,848 - 2,848

Other ¹ - 967 967







11. PAYABLES

2015 2014

$ $



32,251 32,020

12. FEES IN ADVANCE

2015 2014

$ $

Current


75,145 71,406


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 6,551 3,070

6,551 3,070


Make good 2015 2014

$ $



(490) 939














2015 2014

$ $













2015 2014

$ $

Net result 54,847 33,120


Increase/(Decrease) in receivables (862) (872)


Increase/(Decrease) in payables 232 4,593

Increase/(Decrease) in provisions (402) 496

Net gain/(loss) on sale of plant and equipment 729 (1,762)







Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.




OSTEOPATHY COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Osteopathy Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Osteopathy Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Ms Anne Cooper Mr Stuart HammondPresident Member


Osteopathy Council of New South Wales


Osteopathy Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (18,424) (11,384)


REVENUE



Other revenue 5(b) 9,800 264


Gain/(Loss) on disposal/additions 6 809 88

Net Result 10,242 48,530






2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets



Motor vehicles 9 38


Office equipment 653 603

Total plant and equipment 3,890 950



Total Assets 237,699 210,644

LIABILITIES

Current Liabilities

Payables 11 33,171 24,805







Net Assets 133,536 123,294

EQUITY


Total Equity 133,536 123,294





Accumulated Funds

Notes $











2015 2014

Notes $ $


Payments


Council fees (8,062) (7,593)


Audit fees (5,510) (5,392)





Total Payments (161,853) (72,276)

Receipts



Other 9,800 12
















a. Reporting Entity The Osteopathy Council of New South Wales (the Council) as a not-for-profit reporting entity

























receivable.















2015 2014

$ $





63,964 42,734


2015 2014

$ $







87,769 25,431


2015 2014

$ $

Depreciation



Office equipment 483 589

570 647

Amortisation


Intangible assets 945 855

1,062 993






d. Finance Costs

2015 2014

$ $


68 57

e. Other Expenses

2015 2014

$ $



Postage and communication 647 623



General administration expenses 1,259 673

Loss on re-allocation of Make good 632 28

18,424 11,384










2015 2014

$ $


7,109 5,044


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $


Legal fee recoveries 9,800 -

Other Revenue - 12

9,800 264





2015 2014

$ $

Plant and equipment


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements 395 (5)


395 (5)

Intangible assets


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements 414 93


414 93

Total Gain/(Loss) on Disposal/Additions 809 88






2015 2014

$ $

Cash at bank and on hand 227 219


225,792 201,481



2015 2014

$ $

Education and research account** 227 219

227 219


8. RECEIVABLES

2015 2014

$ $




Trade receivables 308 1,221


4,246 4,466










Motor Vehicles



$ $ $ $ $

At 1 July 2014



Net Carrying Amount 227 38 82 603 950

At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $


Net carrying amount at start of year 227 38 82 603 950

Additions 2,982 - - 251 3,233

Other ¹ 56 18 38 282 394

Depreciation (117) (47) (40) (483) (687)







Motor Vehicles



$ $ $ $ $

At 1 July 2013



Net Carrying Amount 460 52 107 941 1,560

At 30 June 2014



Net Carrying Amount 227 38 82 603 950

Reconciliation



Motor Vehicles



$ $ $ $ $


Net carrying amount at start of year 460 52 107 941 1,560

Additions - - - 180 180

Other ¹ (95) 17 2 71 (5)

Depreciation (138) (31) (27) (589) (785)

Net Carrying Amount at End of Year 227 38 82 603 950







Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $


Net carrying amount at start of year 2,864 883 3,747

Additions 810 - 810

Disposals (255) - (255)

Other ¹ - 414 414







Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 2,783 - 2,783

Other ¹ - 93 93







11. PAYABLES

2015 2014

$ $



33,171 24,805

12. FEES IN ADVANCE

2015 2014

$ $

Current


65,960 61,194


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 5,032 1,351

5,032 1,351


Make good 2015 2014

$ $



632 28














2015 2014

$ $













2015 2014

$ $

Net result 10,242 48,530


Increase/(Decrease) in receivables 221 (3,155)



Increase/(Decrease) in provisions 699 (165)

Net gain/(loss) on sale of plant and equipment (809) (88)







Carrying Amount

Class 2015 2014

$ $


Receivables ¹ 8 Loans and receivables (measured at transaction cost) 309 1,222


Carrying Amount

Class 2015 2014

$ $

Payables 2 11 Financial liabilities (measured at transaction cost) 33,171 24,805





b. Credit Risk












30 June 2015.




PHARMACY COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Pharmacy Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Pharmacy Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Ms Alison Aylott Mr Stuart LudingtonPresident Deputy President


Pharmacy Council of New South Wales


Pharmacy Council of NSW


2015 2014

Notes $ $


Operating expenses




Finance costs 2(d) (949) (1,200)

Other expenses 2(e) (329,575) (389,576)

Education and research expenses 3 (20,122) -


REVENUE



Other revenue 5(b) 242,248 263,281

Total Revenue 2,631,776 2,525,709


Net Result 663,803 551,234






2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets









Total Assets 4,837,834 3,969,636

LIABILITIES

Current Liabilities

Payables 11 460,941 343,774

Fees in advance 12 1,277,390 1,230,742




Provisions 13 70,676 28,385



Net Assets 3,026,405 2,362,602

EQUITY


Total Equity 3,026,405 2,362,602





Accumulated Funds

Notes $



Balance at 30 June 2015 3,026,405



Balance at 30 June 2014 2,362,602





2015 2014

Notes $ $


Payments


Council fees (160,078) (144,144)


Audit fees (15,430) (15,265)




Other expenses (150,060) (388,304)

Total Payments (1,764,732) (1,891,955)

Receipts



Other 240,883 257,976

Total Receipts 2,678,622 2,587,942



Proceeds from sale of plant and equipment 13,455 11,716













a. Reporting Entity The Pharmacy Council of New South Wales (the Council) as a not-for-profit reporting entity

























receivable.





Other revenue comprises of monies received by the Pharmacy Council for the regulation of pharmacy businesses in NSW (as per the Law, Schedule 5F). This includes fees for annual registration of pharmacy premises, new or varied applications for pharmacy businesses and acquisition of pecuniary interest in pharmacy body corporate.

h. Personnel Services

In accordance with an agreed Memorandum of Understanding, the Ministry of Health (MOH) being the employer charges the Council for personnel services relating to the provision of all employees. Staff costs are shown in the Statement of Comprehensive Income as personnel services in the financial statements of the Council. Amounts owing for personnel services in the Statement of Financial Position represent amounts payable to the MOH in respect of personnel services.









2015 2014

$ $





835,392 902,544


2015 2014

$ $



Council fees 160,077 144,144

Sitting fees 132,342 120,054



687,868 544,639


2015 2014

$ $

Depreciation




25,047 28,978

Amortisation



60,071 53,900






d. Finance Costs

2015 2014

$ $

Unwinding of discount rate on make good provision 949 1,200

949 1,200

e. Other Expenses

2015 2014

$ $





Equipment and furniture 1,023 46


Loss on re-allocation of Make good 824 1,839

329,575 389,576


2015 2014

$ $

Grants 18,400 -

Other expenses 1,722 -

Total (excluding GST) 20,122 -








2015 2014

$ $


126,185 91,052


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $


Profit on re-allocation of Make good 1,365 -

Legal Fee Recoveries - 20,932

External Consulting Fee Recoveries 34,709 57,810

Application Fees 196,066 176,406


242,248 263,281





2015 2014

$ $

Plant and equipment



Gain/(Loss) on disposal/additions during the year (3,459) 1,785

(8,604) (55,780)

Intangible assets




(345) 2,142







2015 2014

$ $



4,457,467 3,650,227


2015 2014

$ $


31,447 50,983


8. RECEIVABLES

2015 2014

$ $





Less: allowance for impairment (3,310) (3,310)

48,148 41,656

Movement in the Allowance for Impairment

Balance at beginning of year 3,310 2,320

Increase/(decrease) in allowance recognised in profit or loss - 990

Balance at end of year 3,310 3,310








< 3 months overdue 3,280 3,280 -

3-6 months overdue 5,582 5,582 -

> 6 months overdue 1,964 1,964 -

2014

< 3 months overdue 2,063 2,063 -

3-6 months overdue 4,538 4,538 -

> 6 months overdue 4,518 1,208 3,310








Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 41,882 32,167 - 3,518 77,567

Disposals - (16,914) - - (16,914)

Other ¹ (4,748) 872 (1,030) (237) (5,143)

Depreciation (12,340) (15,365) (2,887) (6,795) (37,387)







Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - 28,737 - 3,812 32,549

Disposals - (9,931) - - (9,931)

Other ¹ (47,504) 814 (12,420) 1,545 (57,565)

Depreciation (35,942) (13,340) (3,252) (12,386) (64,920)








Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 85,043 - 85,043

Disposals (624) - (624)

Other ¹ (200,613) 200,268 (345)

Amortisation - (47,731) (47,731)






Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 116,488 - 116,488

Disposals - 2,142 2,142

Amortisation - (17,958) (17,958)






11. PAYABLES

2015 2014

$ $



460,941 343,774

12. FEES IN ADVANCE

2015 2014

$ $

Current


1,277,390 1,230,742

Non-Current


2,422 4,133


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 70,676 28,385

70,676 28,385


Make good 2015 2014

$ $



(541) 1,839


Unwinding/change in discount rate 949 1,200












2015 2014

$ $













2015 2014

$ $

Net result 663,803 551,234




Increase/(Decrease) in payables 117,167 (34,438)

Increase/(Decrease) in provisions 408 (2,266)








Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.




PHYSIOTHERAPY COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Physiotherapy Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Physiotherapy Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Mr Michael Ryan Professor Darren RivettPresident Deputy President


Physiotherapy Council of New South Wales


Physiotherapy Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (57,429) (53,348)


REVENUE





Gain/(Loss) on disposal/additions 6 1,932 (10,651)

Net Result 106,776 123,466






2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets





Other 1,968 2,825




Total Assets 1,248,378 1,095,937

LIABILITIES

Current Liabilities

Payables 11 95,562 73,739

Fees in advance 12 212,265 196,529




Provisions 13 15,176 6,325



Net Assets 924,319 817,543

EQUITY


Total Equity 924,319 817,543





Accumulated Funds

Notes $











2015 2014

Notes $ $


Payments


Council fees (17,209) (13,286)


Audit fees (5,950) (5,976)




Total Payments (416,201) (361,680)

Receipts



Other 1,469 187










Opening cash and cash equivalents 1,053,408 886,791






a. Reporting Entity The Physiotherapy Council of New South Wales (the Council) as a not-for-profit reporting

entity with no cash generating units, performs the duties and functions contained in the Health Practitioner Regulation National Law (NSW) No 86a (the Law).


























receivable.















2015 2014

$ $




Worker’s compensation insurance 760 1,433

248,862 204,474


2015 2014

$ $







131,601 108,898


2015 2014

$ $

Depreciation




3,037 4,172

Amortisation



9,268 15,670






d. Finance Costs

2015 2014

$ $


204 268

e. Other Expenses

2015 2014

$ $







57,429 53,348










2015 2014

$ $


38,005 30,339


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $


Profit on re-allocation of Make good 345 579

Legal fee recoveries - 41

Other Revenue 1,469 146

1,814 1,948





2015 2014

$ $

Plant and equipment




2,156 (9,964)

Intangible assets


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements (224) (687)


(224) (687)

Total Gain/(Loss) on Disposal/Additions 1,932 (10,651)






2015 2014

$ $



1,201,069 1,053,408



2015 2014

$ $


188,603 182,648


8. RECEIVABLES

2015 2014

$ $






12,719 8,952










Motor Vehicles



$ $ $ $ $

At 1 July 2014

Gross carrying amount 25,346 583 6,332 20,848 53,109

Accumulated depreciation and impairment (11,595) (408) (2,562) (18,023) (32,588)


At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 8,993 - - 755 9,748

Other ¹ 1,796 (9) 524 (153) 2,158

Depreciation (6,419) (139) (1,439) (1,459) (9,456)







Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - - - 849 849

Other ¹ (7,442) (24) (1,936) (562) (9,964)

Depreciation (11,669) (146) (1,266) (2,760) (15,841)








Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 2,562 - 2,562

Other ¹ (925) (225) (1,150)







Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 6,561 - 6,561

Other ¹ - (687) (687)







11. PAYABLES

2015 2014

$ $



95,562 73,739

12. FEES IN ADVANCE

2015 2014

$ $

Current


212,265 196,529

Non-Current


1,056 1,801


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 15,176 6,325

15,176 6,325


Make good 2015 2014

$ $



(346) (579)














2015 2014

$ $













2015 2014

$ $

Net result 106,776 123,466


Increase/(Decrease) in receivables (3,767) 3,727




Net gain/(loss) on sale of plant and equipment (1,932) 10,651







Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.




PODIATRY COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Podiatry Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Podiatry Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Mr Luke Taylor Ms Kristy RobsonPresident Deputy President


Podiatry Council of New South Wales


Podiatry Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (25,515) (30,519)

Education and research expenses 3 - (230)


REVENUE



Other revenue 5(b) 316 573


Gain/(Loss) on disposal/additions 6 (495) 1,781

Net Result 53,050 (39,302)

Total Comprehensive Income 53,050 (39,302)





2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets









Total Assets 293,896 240,974

LIABILITIES

Current Liabilities

Payables 11 48,675 72,617







Net Assets 144,472 91,422

EQUITY


Total Equity 144,472 91,422





Accumulated Funds

Notes $











2015 2014

Notes $ $


Payments


Council fees (7,994) (7,592)


Audit fees (5,510) (5,402)


Total Payments (195,126) (159,823)

Receipts



Other - 20




Proceeds from sale of plant and equipment

Purchases of plant and equipment and intangible assets (1,246) (987)

Net Cash Flows from Investing Activities (1,246) (987)











a. Reporting Entity The Podiatry Council of New South Wales (the Council) as a not-for-profit reporting entity

























receivable.















2015 2014

$ $





80,740 92,627


2015 2014

$ $





NSW Civil & Administrative Tribunal fixed costs 7,020 700


66,777 81,880


2015 2014

$ $

Depreciation




774 1,431

Amortisation



1,416 2,142






d. Finance Costs

2015 2014

$ $


90 125

e. Other Expenses

2015 2014

$ $







Loss on re-allocation of Make good - 904

25,515 30,519


2015 2014

$ $

Other expenses - 230

Total (excluding GST) - 230








2015 2014

$ $


8,286 6,929


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $


Profit on re-allocation of Make good 316 -

Other Revenue - 20

316 573





2015 2014

$ $

Plant and equipment




(288) 775

Intangible assets




(207) 1,006

Total Gain/(Loss) on Disposal/Additions (495) 1,781






2015 2014

$ $



282,797 230,428



2015 2014

$ $


62,452 60,480


8. RECEIVABLES

2015 2014

$ $

Prepayments 691 387



Trade receivables - 134


3,279 5,261










Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 3,975 - - 334 4,309

Other ¹ (120) (9) (19) (141) (289)

Depreciation (156) (61) (68) (645) (930)







Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - - 73 397 470

Other ¹ 15 35 64 661 775

Depreciation (269) (68) (72) (1,291) (1,700)








Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 976 - 976

Other ¹ (65) (206) (271)






Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 517 - 517

Other ¹ - 1,006 1,006







11. PAYABLES

2015 2014

$ $



48,675 72,617

12. FEES IN ADVANCE

2015 2014

$ $

Current


94,041 73,975


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 6,708 2,960

6,708 2,960


Make good 2015 2014

$ $



(317) 904














2015 2014

$ $













2015 2014

$ $

Net result 53,050 (39,302)


Increase/(Decrease) in receivables 1,983 (2,842)


Increase/(Decrease) in payables (23,943) 49,470

Increase/(Decrease) in provisions (226) 474

Net gain/(loss) on sale of plant and equipment 495 (1,781)







Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.




PSYCHOLOGY COUNCIL OF NEW SOUTH WALES



Pursuant to s 41C(1B) Public Finance and Audit Act 1983, and in accordance with the resolution of the members of the Psychology Council of New South Wales, we declare on behalf of the Council that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position of the Psychology Council of New South Wales as at 30 June 2015 and financial performance for the year then ended.



Professor Alexander Blaszczynski Associate Professor William WarrenPresident Deputy President


Psychology Council of New South Wales


Psychology Council of NSW


2015 2014

Notes $ $


Operating expenses





Other expenses 2(e) (183,692) (142,071)

Education and research expenses 3 (45,343) (50,722)

Total Expenses Excluding Losses (1,085,402) (945,731)

REVENUE




Total Revenue 1,208,326 1,142,213


Net Result 111,479 194,583






2015 2014

Notes $ $

ASSETS

Current Assets




Non-Current Assets









Total Assets 2,558,955 2,349,026

LIABILITIES

Current Liabilities

Payables 11 199,726 158,844

Fees in advance 12 509,422 478,445




Provisions 13 44,640 16,031



Net Assets 1,802,312 1,690,833

EQUITY


Total Equity 1,802,312 1,690,833





Accumulated Funds

Notes $



Balance at 30 June 2015 1,802,312



Balance at 30 June 2014 1,690,833





2015 2014

Notes $ $


Payments


Council fees (16,888) (14,600)


Audit fees (6,940) (7,004)




Health assessment fees (36,483) (29,855)

NCAT fixed costs (63,960) (16,000)


Total Payments (1,017,454) (881,312)

Receipts



Other 738 244

Total Receipts 1,233,920 1,179,056















a. Reporting Entity The Psychology Council of New South Wales (the Council) as a not-for-profit reporting entity

























receivable.




















Council. Shared use assets that cost over $5,000 at the time of purchase by the HPCA are capitalised. These capitalised shared use assets are then allocated to the Council using an appropriate allocation method. The minimum capitalisation threshold limits applied to the Council for the asset are $280 (2013/2014- $254) (all Council shared use asset), or $438 (2013/2014 - $399) (Pitt Street shared use asset), whichever is applicable.














2015 2014

$ $





257,375 387,447


2015 2014

$ $







572,644 317,584


2015 2014

$ $

Depreciation




7,068 10,630

Amortisation



18,680 36,599






d. Finance Costs

2015 2014

$ $


600 678

e. Other Expenses

2015 2014

$ $





Equipment and furniture 183 1,000


Loss on re-allocation of Make good 1,556 1,632

183,692 142,071


2015 2014

$ $

Grants 24,900 25,169


Total (excluding GST) 45,343 50,722








2015 2014

$ $


77,764 64,141


2015 2014

% %


(b) OTHER REVENUE

2015 2014

$ $

Recoupment of costs - -


Other Revenue 739 243

739 3,239





2015 2014

$ $

Plant and equipment




(12,468) (3,697)

Intangible assets


Net book value (disposed)/acquired during the year - re-allocations arising from the cost sharing arrangements 1,023 1,798


1,023 1,798







2015 2014

$ $



2,455,876 2,246,303



2015 2014

$ $


126,816 171,652


8. RECEIVABLES

2015 2014

$ $



Interest receivable (131) 11


Less: allowance for impairment (462) (462)

34,521 30,319

Movement in the Allowance for Impairment

Balance at 1 July 2014 462 462

Amounts written off during the year - -

Amounts recovered during the year - -

Increase/(decrease) in allowance recognised in profit or loss - -

Balance at end of year 462 462










> 6 months overdue 462 - 462

2014



> 6 months overdue 462 - 462








Motor Vehicles



$ $ $ $ $

At 1 July 2014




At 30 June 2015




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions 26,454 - - 2,225 28,679

Other ¹ (10,538) 47 (2,671) 695 (12,467)

Depreciation (10,298) (408) (2,368) (4,292) (17,366)







Motor Vehicles



$ $ $ $ $

At 1 July 2013




At 30 June 2014




Reconciliation



Motor Vehicles



$ $ $ $ $



Additions - - - 2,153 2,153

Other ¹ (3,840) 63 (820) 900 (3,697)

Depreciation (26,457) (370) (3,265) (6,995) (37,087)








Software Work in


$ $ $

At 1 July 2014




At 30 June 2015




Software Work in


$ $ $



Additions 5,694 - 5,694

Other ¹ (1,026) 1,022 (4)






Software Work in


$ $ $

At 1 July 2013




At 30 June 2014




Software Work in


$ $ $



Additions 6,065 - 6,065

Other ¹ - 1,798 1,798

Amortisation - (10,142) (10,142)






11. PAYABLES

2015 2014

$ $



199,726 158,844

12. FEES IN ADVANCE

2015 2014

$ $

Current


509,422 478,445

Non-Current


2,855 4,873


13. PROVISIONS

2015 2014

$ $

Non-Current

Make good 44,640 16,031

44,640 16,031


Make good 2015 2014

$ $



1,556 1,632














2015 2014

$ $













2015 2014

$ $

Net result 111,479 194,583





Increase/(Decrease) in provisions 2,155 (684)








Carrying Amount

Class 2015 2014

$ $




Carrying Amount

Class 2015 2014

$ $






b. Credit Risk












30 June 2015.


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