holmesglen vocational and higher education

Chadstone campusBatesford Road, ChadstoneVictoria, Australia 3148

City campus332 St Kilda Road, Southbank Victoria, Australia 3006

Moorabbin campus488 South Road, MoorabbinVictoria, Australia 3189

Moorabbin-Bulli Street campus36 Bulli St, MoorabbinVictoria, Australia 3189

Waverley campus595 Waverley Road, Glen WaverleyVictoria, Australia 3150

All written correspondence to:PO Box 42Holmesglen Victoria, Australia 3148

T: +61 3 9564 1555E: [email protected]: www.holmesglen.edu.au

Copyright @Holmesglen Institute of TAFE, February 2012Holmesglen is the trading name of Holmesglen Institute of TAFE

Vocational and Higher Education

Holm

esglen Annu

al Re

port 2

01

12011

ANNUAL REPORT

is The delivery and development

of vocational education

programs and value added

services supported by high quality

resources. Students receive every

opportunity to achieve their

educational goals.

Our mission...Holmesglen

Office of the Chief Executive

PO Box 42Holmesglen, Victoria 3148

Further copies can be obtained from:

Holmesglen

Marketing Unit


T: 03 9564 1555

E: [email protected]

Requests for further

information

can be directed to:

Holmesglen Annual Report 2011 1

02 Holmesglen Establishment03 President’s Report04 Institute Board04 Committees06 Senior Staff07 Organisational Chart08 Report of Operations

10 Excellence11 Awards 14 Corporate Responsibility

16 Scholarship17 Higher Education18 Speaking Engagements

22 Access23 Faculty Reports23 Faculty of Building Construction & Architectural Design24 Faculty of Business & Finance25 Faculty of Design, Arts & Science26 Faculty of Engineering, Electrical & Information Technology27 Faculty of Health Science, Community Studies & Education28 Faculty of Language & Vocational Pathways29 Faculty of Services, Environment & Lifestyle30 International Centre31 Administrative Reports 31 Corporate Improvement Unit31 Graduate Employment Service32 Learning Commons32 Marketing Unit33 Media Services Department34 Registrar’s Department34 Student Services35 Technology Services Department36 Facilities37 Compliance 37 Environmental Performance

38 Enterprise39 Conference Centre and Corporate Suites39 Hemisphere Conference Centre and Hotel39 Rural Learning Centre40 Community and Industry Short Courses40 Centre of Business Development40 Learning Innovation and Development41 Holmesglen Employment

42 Integrity46 Key Performance Indicators47 Fees and Charges47 Student Data48 Human Resources51 Compliance

52 Financial61 Notes to Financial Statements92 Disclosure Index96 Glossary of Terms

ANNUAL REPORT2011 CONTENTS

Educating for the New World2

Holmesglen has been proudly delivering and developing vocational education programs since 1982.

Holmesglen Institute of TAFE was officially opened in February 1982 on the former site of Holmesglen Constructions in Batesford Road, Chadstone. The Institute was established under the Post-Secondary Act (1978) to provide a range of general TAFE programs for the community and basic training for all the trades associated with the building and construction industry.

The Institute has grown significantly since its beginnings in 1982, and is now the largest TAFE provider for overseas students. Holmesglen has grown to be a multi sectoral institute that delivers a broad range of vocational education and training services across three Melbourne campuses and internationally.

The Institute continues to broaden its range of products and services to ensure it meets the expectations and needs of students, and is committed to providing excellent teaching facilities for both students and staff. The Institute rebranded in 2008 with a new look logo and a new tag line ‘Vocational and Higher Education’ which more fully represents its strategic direction.

The Minister responsible for TAFE institutes in 2011 was The Hon. Peter Hall, MLC, Minister for Higher Education and Skills.

1982 Officially opened on the Chadstone site.

1987 Occupies former Oakleigh Technical School site. Student numbers pass 10,000 (up 32% to 11,614). Conference Centre opened. Becomes the first Australian TAFE College approved as an ELICOS provider, enabling the recruitment of fee-paying overseas students.

1992 Takes possession of the new Waverley site and relocates Oakleigh facilities.

1994 First Australian educational institution to be registered as ISO 9001/AS 3901/NZS 9001 compliant and has maintained continuous approval since.

1996 Enrolments reach 29,802 and student contact hours reach 5.9 million.

2002 Moorabbin campus of Chisholm Institute of TAFE transferred to Holmesglen, along with approximately 200 staff and 15,000 students.

2003 Rural Learning Centre, the Institute’s rural property located five kilometers from Eildon, is purchased.

2005 Major works completed on the Moorabbin campus resulting in creation of two educational precincts and total capacity of 30,000 students, both day and evening.

2006 Two new educational facilities completed at the Waverley campus together with a new cafeteria.

2008 Following legislative change in 2003, the Institute embarks on significant development of higher education programs, and in 2009 had 15 undergraduate degrees accredited including a landmark accreditation of a Division 1 Nursing degree.

2009 The Rural Learning Centre’s state of the art student and staff conference facility with accommodation for 18 staff and 48 students is opened.

Holmesglen becomes the only TAFE Institute in Australia to receive Commonwealth supported places for higher education.

2011 Health services five story building completed at the Moorabbin campus.

Three storey building for early childhood education and the Vocational College completed at the Waverley campus.

HOLMESGLEN ESTABLISHMENT


This is my first report as Chair of Holmesglen Institute. I want to record my appreciation of the outstanding work undertaken by previous chairs.

This year has been a complex and difficult year, yet, one in which the Institute continued to develop and diversify. At the macro level, the environment was turbulent and economically unstable. For an outwardly focused organisation such as Holmesglen that is continuously evolving and interacting with the environment on a local and international scale, turbulence creates uncertainty.

At the local level, the Institute has had to contend with vagaries in relation to its governance arrangements. The Institute was subjected to a performance review by VAGO which was both time consuming and of concern.

At the same time there was a significant downturn in the international student market that has impacted on staffing and enrolment levels. These difficulties have been compounded by the late announcement of a reduction in State funds to large metropolitan institutes. The impact has been a reduction in the planned program effort for 2012. It is of great concern to my Board that if there is a continued erosion of government funding planned for 2012, and the centralised model of enterprise bargaining for teachers is pursued, then it will be very difficult to be confident of being able to conduct viable programs in the future.

However, despite the difficulties, 2011 has also seen significant achievements. A number of strategies will come into effect in 2012 and some of the difficulties associated with 2011 may well become positive forces. In particular, the delay in governance arrangements has enabled a case to be developed for the establishment of an alternative tertiary educational provider to be created in Victoria. There is an opportunity to develop governance arrangements which provide for a new strategic direction for Boards and aspirational goals consistent with Victoria’s Tertiary Plans.

Despite the downturn in international education, the Institute will deliver close to 12.5 million student contact hours in 2011 making Holmesglen one of the largest VET providers in Victoria.

New educational programs and alliances that have been developed include a degree in fashion and the Charles Sturt dental hygiene and oral therapy programs.

The Institute will complete its self funded $95 million 5 year building program in early 2012. This is an unprecedented contribution to the infrastructure of Victoria by any government educational institution. The buildings, especially the Moorabbin nursing building, are attracting interest from all over Australia and at international levels. My Board takes great pride in the quality and usefulness of the Institute’s facilities and in our contribution.

We continue to strive to improve the student experience at Holmesglen. To support this, we have this year:

•Appointed graduate employment officers, whose responsibilities include organising internships, sourcing graduate employment opportunities and implementing on campus employment related services and events.

•Commenced an evaluation of Holmesglen’s degree programs to identify patterns of retention and attrition and the factors impacting these patterns.

•Ensured Holmesglen provided adequate support services for students, especially students with a disability. Holmesglen is proud of its track record in responding to the needs of

students with learning difficulties and/or disabilities. Our strategy has involved the development of social enterprises to support the integration of vocational programs and work-based learning such as traineeships.

•Opened a second campus of the Vocational College at Waverley. This unique concept is now recognised as a national exemplar in relation to educational provision for students at risk.

We have continued to pursue a range of commercial and international activities to maintain our financial viability. In the past year, our activities have included:•Continued consultancy for the Kaplan group.•The development of two new off shore projects in Mongolia

complemented by continued off-shore project work in India and Qatar.

•Undertaking an Australian Learning and Teaching Council funded innovation and development project to further develop the clinical assessment framework used within the Bachelor of Nursing.

•Delivering language programs to industry in collaboration with AMES.

Ultimately, revenue from these activities flows into facilities improvement and seed funding of new initiatives to respond to community and industry needs. Holmesglen’s facilities and teaching and learning environments remain some of the most impressive within the Australian tertiary sector. Vibrant and well utilised campuses also impact significantly on the local surrounding areas, generating economic and social benefits.

We continue to maintain strong and effective partnerships both within Australia and overseas. The partnerships with international institutions and private companies have enriched the Institute and added immeasurably to our capability.

We remain committed to supporting and pursuing a tertiary education agenda. It is clear to us that many occupations that once required entry into professional and para professional roles now require undergraduate qualifications. To ensure the Institute’s relevance, we regard the establishment of new undergraduate programs, and a new type of tertiary provider supported by Commonwealth funding as a key priority.

I am indebted to my Board, the management and staff for their interest and involvement with the Institute, and the loyalty they so willingly provide. It is with deep regret that I have to record the passing of Mr David Murden, a founding Board member and a wonderful contributor not only to Holmesglen but to vocational education and the building industry. Throughout 2011, the Board, management and staff have continued to work together in a positive and focused manner and I am sure this spirit of co-operation will continue in future years. My deep gratitude is extended to all of them, and in particular, to the Institute’s Chief Executive, Mr Bruce Mackenzie, for their unqualified support, enthusiasm and commitment.

Jonathan Forster Chair, Holmesglen Board

PRESIDENT’S REPORT

| President’s Report


The Board strives to ensure Holmesglen is a market leader in meeting the education and training needs of the community, industry and workplace.

The Institute Board is the governing body of the Institute. Directors of the Board are representative of industry and community and appointed for a variety of reasons.

The Board’s values are consistent with those in the Institute’s Strategic Plan and committed to the adoption of ethical conduct in all areas of its responsibilities. Its members are bound to the duties and code of conduct detailed in the Board Members Handbook. In general, members must avoid conflict of interest and act in good faith in the interest of Holmesglen Institute of TAFE.

There is no comprehensive legal Code of Conduct for Board members. Their duties and liabilities arise under common law, the Vocational Education and Training Act 1990 (as amended), the Education and Training Reform Act (2006) and other statutes and regulations which affect TAFE.

The Board of Holmesglen Institute of TAFE was originally incorporated under the Post-Secondary Education Act 1978 by an Order in Council on 5 January 1982 and was made responsible to the Minister for Employment, Post-Secondary Education and Training.

On recommendations of the Minister for Tertiary Education and Training, a new constitution for the Institute was approved by the Governor-in-Council on 31 January 1995, under Section 24 of the Vocational Education and Training Act 1990. Without effect on continuity of directives, the new constitution came into effect on 1 April 1995. On 9 October 2007 a new Constitution was implemented by the government.

The Board objectives are to:• establish goals for the Institute within the context of

national and state policy and management frameworks.• provide quality vocational education and training and

adult, community and further education programs and services which promote the competitiveness of industry, enhance the opportunities for individuals and serve the needs of the general community.

• manage and control the Institute efficiently and effectively to optimise the efficient use of resources.

• be the market leader in meeting the education and training needs of the community, industry and workplace.

The role of the Holmesglen Institute Board is set out in the Constitution (4. (a) – (d) Objectives of the Board) and in summary is to take all reasonable steps toward objectives set out in Institute’s Strategic Plan (2007 – 2012 (revised June 2010)). The Strategic Plan is reviewed each year to ensure that the strategies contained within the plan are in accord with the external environment. In 2012 the Board will develop a new Institute Strategic Plan (2012 – 2017).

In October 2011, all Board members undertook a full day corporate improvement program held at the Rural Learning Centre, Eildon. The workshop included an analysis of the external environment, review of the current status and potential growth strategies. A Board Effectiveness Survey will be undertaken in 2012.

Board Members (Directors) in 2011:

• The Hon Haddon Storey QC (President and Chair of Institute Board – retired in March 2011)

• Mr Jonathan Forster (President and Chair of Institute Board from April 2011)

• Ms Anabel Shears Carter OAM (Vice President)• Ms Louise Hill• Mr Peter Picking • Ms Linda Dewar• Ms Pam Russell • Emeritus Professor Peter Darvall AO• Mr Bryan Waters• Mr Neil Lucas PSM JP• Mr Roger Leeming• Mr John Dixon• Ms Catherine Walsh• Ryan Wall (2011 Student Representative)• Mark Leopold (Staff Representative)• Mr Bruce Mackenzie PSM (Chief Executive)

Qualifications of individual board members are available from the office of the Chief Executive upon request.

Committees

To assist the Board in meeting its constitutional duties, there are seven sub-committees. These are:• Building and Planning Committee• Finance Committee• Audit and Risk Management Committee• Investment Committee• Business Development Committee• Remuneration Committee• Higher Education Academic Committee

Each committee has an Executive Officer drawn from the management group. In addition, a Board Executive acts on behalf of the full Board between meetings. Executive officers and Directorate staff attend all Board meetings. The President and Chief Executive are ex-officio members of all Board Committees. A member of the Institute Committee may not necessarily be a Board member.

The Institute has implemented procedures which require relevant officers to complete statements of pecuniary interest. Such statements have been duly completed.

Building and Planning CommitteeThe Building and Planning Committee’s function is to recommend to the Board facility and infrastructure plans for Institute building works. It oversees the construction of these projects as well as the overall maintenance of all Institute buildings.

INSTITUTE BOARD


Finance CommitteeThe prime function of the Finance Committee is to ensure that the Institute’s financial policies are executed in accordance with the government’s Financial Reporting Framework.

Audit and Risk Management CommitteeThe Audit and Risk Management Committee’s primary responsibility relates to the adequacy of financial reporting, risk management and internal control.

Investment CommitteeThe function of this Committee is to oversee and review the Institute’s investments.

Business Development CommitteeThe function of the Business Development Committee is to consider potential business opportunities to be put forward to the Institute Board. This Committee did not meet in 2011.

Remuneration CommitteeThe function of this Committee is to ensure that there is a consistent and rigorous approach for establishing, implementing and maintaining executive remuneration in the Institute. The Committee also reviews policies and practices in relation to conditions of employment for all employees and where appropriate, make recommendations to the Institute Board.

Higher Education Academic CommitteeThe Higher Education Academic Committee is responsible for oversight of all higher education programs conducted at Holmesglen Institute, that is, undergraduate degrees and graduate certificates (higher education).

The Board met eight times in 2011 and the Remuneration Committee met once in 2011. The following highlights the Institute’s Board members, the number of Board and Committee meetings attended during the year. The Hon Haddon Storey QC retired in March 2011.

Attendance at Board and Committee Meetings in 2011

Board members Board Meeting

(8)

Building & Planning

(9)

Finance (8)

Audit & Risk Management

(4)

Investment(2)

Higher Education Academic

(3)

The Hon Haddon Storey QC 2 1 1

Jonathan Forster 7 1 6 3 2 1

Anabel Shears Carter OAM

7 2

Louise Hill 7

Pam Russell 6 2

Linda Dewar 4 5 3

Peter Picking 7 9

Neil Lucas PSM JP* 6

Roger Leeming* 4

John Dixon* 5

Emeritus Professor Peter Darvall AO

5 2

Bryan Waters 8 8 4 1

Catherine Walsh* 1

Mark Leopold (Staff Representative)

6

Ryan Wall (Student Representative)

5

Bruce Mackenzie PSM (Chief Executive)

8 5 4 1 1 1

Note: The Business Development Committee did not meet in 2011. The scheduled Remuneration Committee meeting was postponed to 2012. The Hon Haddon Storey QC retired in March 2011. * Board members appointed in May 2011.

| Institute Board


SENIOR STAFF

The six senior staff of the Institute are Chief Executive, Executive Director (Educational Development and Design), Corporate Services Manager, Executive Director (Operations), Executive Director (Information Services), and Director, International Programs and Projects.

Mary FaraoneExecutive Director

Bruce PrescottExecutive Director

Frank Virik

Executive Director

Bruce Mackenzie

PSMChief

Executive

David EndeanDirector

Enzo SpangherCorporate Services Manager

(Educational Development and Design)Responsibility for the management of program development and delivery at the Institute to ensure the needs of government, industry and the wider community are met.

(Operations)Responsibility for the planning, co-ordination and development of facilities, minor works, property services and security.

(International Programs and Projects)Responsibility for international operations, projects and the International Centre.

(Information Services and Campus Manager Moorabbin)Responsibility for technology infrastructure, Student Services, Student Management, Media Services and management of the Moorabbin campus.

Responsibility for the effective and efficient management of the Institute.

Responsibility for the management of the Institute’s corporate services, financial resources and the development of strategies to optimise the provision and use of funds in accordance with Institute objectives and government requirements.


ORGANISATIONAL CHART

Building and Planning Committee

Finance Committee

Business Development Committee

RemunerationCommittee

InvestmentCommittee

Audit and Risk ManagementCommittee

Higher Education Academic

Committee

Board

Bruce Mackenzie

Chief Executive

Mary FaraoneExecutive Director

Educational Development and Design - Business Development - Higher Education - Corporate Improvement Unit - Planning Office

- Teaching Faculties: - Building, Construction & Architectural Design - Business & Finance - Design, Arts & Science - Engineering, Electrical & Information Technology - Flexible Training Centre - Health Science, Community Studies & Education - Language & Vocational Pathways - Services, Environment & Lifestyle

Enzo SpangherCorporate Services Manager

- Finance - Personnel - Purchasing

David EndeanDirector

International Centre

- International Projects - International Centre for Students

Frank Virik

Executive Director

Information Services - Technology Services - Learning Commons - Media Services - Registrar

- Student Services - Moorabbin Campus Manager

Communcations and Business Enterprise - Marketing - Community and Industry Short Courses - Hemisphere Hotel & Conference Centre - Conference Centre/ Corporate Suites

- Rural Learning Centre - Corporate Art - Graduate Employment Services

Avril Reagon

Associate Director

Bruce PrescottExecutive Director

Operations - Facilities Planning and Development - Property Services - Waverley Campus Facilities Management

| Senior Staff and Organisational Chart


Education and Training OutputFollowing a record achievement of 13.8 million student contact hours in 2009 and 13.6 million in 2010, the Institute achieved 12.5 million student contact hours, a good result in the new contestable environment and a difficult external environment.

Vocational Education2011 saw the first full year implementation of the Skills Reform at all qualification levels. The Institute maintained its state government funded activity in 2011 however with the downturn in international students, the vocational education output was down on 2010.

The Module Load Completion Rate for 2011 was 77%.

Higher Education The Institute undertook significant work in 2011 developing its higher education expertise and capacity, however the key activity for the year was the preparation of the portfolio for the AUQA Audit and site visit in August 2011. The AUQA Audit was an insightful process and meaningful learning experience for the staff and Board of the Institute. The Institute is pleased with the result of the audit.

Other key achievements for 2011 included:• Signed agreement with Charles Sturt University to

deliver the Bachelor of Oral health Therapy in 2012.• Signed partner-provider agreement with Metropolitan

South Institute of TAFE for delivery of Holmesglen higher education programs in Queensland.

• Completion of a research project undertaken by the University of Melbourne on attrition and progression at the Institute.

• Completion of an action research project on enhancing scholarly practice and culture at the Institute.

• The Australian Learning and Teaching Council funded a project to further develop the clinical assessment framework used within the Bachelor of Nursing.

• Development of an Ethics Committee.• First round of external benchmarking completed.• Inaugural Higher Education Conference held in

June 2011.• Teaching and Learning Committee established.• Re-accreditation of Bachelor of Business (Accounting).• Accreditation of:

- Bachelor of Fashion (Apparel Engineering and Design) - Bachelor of Hospitality Management - Graduate Diploma of Construction Management and

Economics - Graduate Diploma of Building Surveying - Graduate Diploma of Facilities Management.

International ProjectsThe Institute continued its successful international project work in 2011 which includes:• Continuation of the project in Qatar auspicing training

for apprentices and recruiting trainers for Qatar Petroleum

• Implementation of a project with the Bahrain Ministry of Education for teacher trainer support.

• First full year of operation of the project with the Qatar Central Bank to develop and establish a vocational senior secondary boys’ school for the banking and finance sector.

• Successful implementation of a project in India with a large construction and infrastructure company to train its construction workers and a specialist group of master trainers.

• Commencement of a strengthening project in Mongolia to assist with the development of vocational education and training.

FacilitiesThe new health sciences five storey building on the Moorabbin campus funded by the Board of the Institute was completed.

A new three storey building at the Waverley campus for early childhood education and the Vocational College, funded by the Commonwealth through the Education Investment Fund was opened.

Operational Objectives Operational objectives were set out in the Institute’s Performance Agreement with the Victorian Skills Commission. All reports were provided by the due date. In 2011 the Institute achieved the objectives documented in the performance agreement with the Victorian Skills Commission.

Key Achievements

Winner of Victorian and Australian Apprentice of the Year AwardHolmesglen graduate Colin Wilson won the Victorian Apprentice of the Year category at the Victorian Training Awards 2011 and went on to win in the same category at the National Awards. Colin completed the Certificate III in Commercial Cookery at the Moorabbin campus.

AUQA AuditThe AUQA Audit was a significant and key achievement for the Institute in 2011. It not only provided a positive outcome but also an opportunity for the Institute to showcase its capacity and expertise and maturity as a higher education provider.

REPORT OF OPERATIONS


2008$’000

2009$’000

2010$’000

2011$’000

Operating revenue157,675 162,373 174,171 173,013

Operating expenses(163,754) (153,316) (159,816) (159,525)

Net result from transactions

(6,079) 9,057 14,355 13,488

The figures are shown in the format required by the Financial Management Act 1994. There were no consultancies during 2011 costing in excess of $100,000. There were 41 consultancies during 2011 costing less than $100,000. The total cost of these engagements was $1,043,040.

There was no significant change in the financial position for the Institute for the year 2011.

Information prepared for the Report of Operations has been prepared and verified by

Mr Bruce Mackenzie, PSM.Chief Executive

Financial Report of Operations

| Report of Operations

ExcellenceWe offer relevant vocational programs and

services for all individuals through a variety of

teaching modes, enhanced by relationships with

other education institutions and key industries.


STAFF

Amy Dearsley & Louise AlexanderHealth Science & Biotechnology• ‘Best Poster’ prize at the national Sim Health

Conference in Sydney

Catherina MathersDesign, Arts & Science • Best Animation Short Film “Nullarbor” -

Melbourne International Film Festival

Daryl MuntonDesign, Arts & Science • Best Animation Short Film “Nullarbor” -


Graham VailePlumbing• Two awards for his educational contribution to the

industry - the Air Conditioning Contractor Association and Plumbing Industry Commission

Jennifer JenningsHealth Science & Biotechnology• Academic Excellence Award - Golden Key Society,

Monash University

Patrick SarrelDesign, Arts & Science • Best Animation Short Film “Nullarbor” -


Sheryl ReesEarly Childhood Education• The New Tertiary Landscape• Holmesglen Waverley (as host of state wide

VATCCST conference)

Dr Simon LyeBusiness & Finance• Best Presenter Award - The Global Business,

Economics and Finance Research Conference, London

Faculty of Engineering, Electrical & Information Technology• Best Hybrid Innovation Award - RACV Energy

Breakthrough Challenge• First, second and third in the 3D Animation

using Maya category - Monash University

Health Sciences Building - Moorabbin campus• New Construction/Individual Facility Award - Victorian

Chapter of the Council for Education Facilities Planners International (CEFPI)

STUDENT

Faculty of Business & Finance

Felicity Purdham• Ellen Dickeson Memorial Award for excellence in the

study of the Advanced Diploma of Legal Practice

Wendy Fu• Westpac Banking Award for best banking student

Faculty of Building Construction & Architectural Design

Alexander Lawton & Matthew Hicks• The Alfred Atherton Educational Award

Jake Whitchelo• Gold medal - Masters Plumbers Industry Commission

Jessie Mckibbin• Best painting apprentice - Master Builders Association

Thin Nguyen• HCAA Encouragement Award - Australian Duct

Manufacturers Alliance Heating and Cooling Association of Australia

Faculty of Design, Arts & Science

Brayden Alden• Finalist in Monash Film Festival with his film “Cotton

Candy Clouds” - Monash Youth Film Festival

Caleb de Gabriel• Silver Award for his actual package and his rationale

and a Commendation for the sustainable aspect of the product, Southern Cross Packaging

Carmen Lai• Bronze Award for her package design of an individual

medication dispenser - Southern Cross Packaging

Darren Bell• Best Story Award for his animated film “Imaginary Sam”

- Victorian Student Animation Festival

Di Guo• Highly Commended Award - DG Student Design

Competition

Frances Villante• Commendation for his package design - Southern Cross

Packaging

Jamie Bailey• Commendation for next generation packaging -

Southern Cross Packaging• Awarded a three month internship with Grey Advertising

- Melbourne Art Directors Club

Jennifer Thy• Shortlisted for the Heartlands Refugees Fine Art Prize

Exhibition - Multicultural Arts Victoria & AMES

Jordan Gaylard• Best Original Concept for his film “Prosper”• Finalist in Monash Film Festival with his film

“Dear Hunter” - Monash Youth Film Festival

Lori Young, Chris & Robert Smellin• Had their film ‘In Her Eyes’ shortlisted for the “Shorts

One” program - Hell’s Half Mile Film Festival in the USA

Pei-Wen Hsieh• Highly Commended Award - DG Student Design

Competition

AWARDS

| Excellence


Peter Shore• Winner of Victorian Furnishing Industry Certificate III in

Floor Covering & Finishing Apprentice of the Year• Winner of Victorian Furnishing Industry Certificate III in

Floor Covering & Finishing (Carpet)

Sarum Rouen• Shortlisted for the Heartlands Refugees Fine Art Prize

Exhibition - Multicultural Arts Victoria & AMES

Seamus Spilsbury• Won Best Animation Award for his animated film “Blown

Away” - Victorian Student Animation Festival

Faculty of Engineering, Electrical & Information Technology

Michael Hogan• 2010 Australian Vocational Student of the Year in the

early part of 2011

Faculty of Health Science, Community Studies & Education

Aaron Johnston Amy HirdBen Perkins Danny KoukouzasDarcy Guest David CorreaEmily O’Brien Greg DaviesKen Kikuchi Martina GableMatt Anderson Raegan MokarakaSam Hurley Tom HargreavesTyson Peters• The Duke of Edinburgh’s Award (The International Award

of Youth Development) - Bronze

Michelle Hall• Membership of Golden Key Society - Monash University

N’Gamoh Braima• Study Scholarship from Department of Justice for

immigrant $20,000 over 2 years

VCAL Foundation Students• Program Excellence Award, Applied Learning Awards

2011• Participation Award, 2011 Abilities CD, Applied Learning

Awards 2011 - Gateway Local Learning and Employment Network

Faculty of Services, Environment & Lifestyle

Angela ZienowBakery Apprentice • Silver Medal & Encouragement Award - Bake Skills

Australia

Antimony JellettHorticulture & Floristry• Melbourne International Flower and Garden Show

Achievable Gardens Silver Medal

Colin WilsonHospitality, Cookery & Bakery• Best apprentice in Australia at the 2011 Australian

Training Awards.

Frank LorenziApprentice Landscape• Rotary Award for Oakleigh District Perc Moore Award

Megan Jacks Bakery Apprentice • Silver Medal & Encouragement Award - Bake Skills

Australia

Rodney NevinApprentice Landscape• Rotary Award for Mt Waverley

Thomas Jenner Apprentice Turf• Young Achievers LLEN Award for the Warragul District

Yvette GregorovichHorticulture & Floristry• Melbourne International Flower and Garden Show

Achievable Gardens Gold Medal


Holmesglen provides an environment that encourages scholarship, confidence, motivation and pride.

Holmesglen saluted the achievement of students and staff at the Holmesglen Awards Festival held throughout the Institute for two weeks in May and culminating in an Awards Dinner attended by significant industry partners.

Crown Melbourne Limited and Westpac Bank – Chadstone branch along with 185 other supportive industry partners were formally recognised for the significant contribution they made to the success of Holmesglen in 2010.

AWARDS FESTIVAL 2011

Jennifer Thy2010 Outstanding Certificate Student

Simon Nygaard2010 Outstanding Apprentice

Kevin Downey2010 Outstanding Diploma Student

Rhianna MoorhouseSpecial Encouragement Award

Patrick Loughnane 2010 Outstanding Higher Education Student

Francesco Triolo 2010 Outstanding Higher Education Student

Tim Kitching2010 Administrative Excellence Award

Veronica Dickson 2010 Educational Excellence Award

Naomi Thaler2010 Educational Excellence Award

| Excellence

Maree StamatakisSpecial Encouragement Award


Environmental Sustainability

Holmesglen Institute is committed to the philosophy of Environmental Sustainability incorporating environmental principles in project specifications, purchasing of consumables, and facility management across the Institute. The Institute Board has endorsed a comprehensive Sustainability Policy.

An Environmental Sustainability Committee was established in August 2006 to facilitate the implementation of environmental principles at Holmesglen. The committee meets four times per year, assisting with issues of regulatory compliance, continual improvement and assessing new and innovative ideas.

The committee reviews the following areas on an ongoing basis:• Energy Management• Water Management• Waste Management• Purchasing • Vehicle Fleet Management• Facility Development

Energy Management• Building Automation System (BAS) runs across all three

campuses and controls lighting and air-conditioning at designated times for saving in energy usage, maintenance, wear and tear of equipment and cleaning costs.

• Monitoring systems for energy and water are gradually being installed across all campuses. The usage data will assist with planning and operations decisions and mandatory government reporting.

• Automated lighting sensors designed to save energy are fitted to some buildings, while other buildings run on a reduced power supply. Currently there are two options for lighting in our buildings. Some have sensors which turn the lights off when no movement is detected for a set period of time. New and refurbished areas are fitted with T5 energy saving light fittings. A number of refurbishment projects taking place across all campuses will result in speciality lighting being replaced with energy efficient equivalent lighting.

• A PC Power Down system has been implemented with student and staff computers configured to automatically power down after hours.

Water Management• Waterless urinals are now in use across three campuses.• Dual flushing toilets are installed through the Cyclic

Maintenance program as facilities are upgraded. All new building works have the Dual Flush system in line with current Building Regulations.

• The Water Wise Planting program is in place across campuses. This is an ongoing project and includes replacement of trees which have become distressed due to lack of moisture.

• Water Harvesting has now been installed at all campuses. The water is made available for a range of uses – see table below.

Waste ManagementWaste Streaming has been implemented in a range of areas including:• Installation of combination rubbish and co-mingle bins in

all public areas across all campuses. Staff rooms have been supplied with a pair of waste and recycling bins.

• Offices have access to paper/cardboard and toner cartridge recycling.

• Segregation of cardboard packaging from non recyclable materials. All waste packaging and decommissioned computers are removed by the contractor and recycled appropriately.

• Installation of lidded bins at the Chadstone campus facilitated uncontaminated waste streaming of metals, timber and glass and increased the amount of waste products to be recycled.

• All cooking oil at the Moorabbin hospitality facility is sold on for recycling.

• Chipping of garden waste for return as mulch is now carried out by the Holmesglen Gardening Service.

Purchasing• Purchase of environmentally friendly consumables is

encouraged. The Institute participates in a carbon offset program with Virgin Blue airlines for Institute travel.

• Recycled paper is provided for the Multi Function Devices throughout the Institute.

Vehicle Management• Reduced petrol consumption and carbon footprint have

been achieved with an amendment to the Institute vehicle purchasing policy to reflect the preferred purchase of four cylinder fleet cars. A number of hybrid and diesel powered cars have also been trialled in the vehicle fleet.

Facility Development• An agro forestry development plan at the Rural Learing

Centre has been completed and planting carried out with the potential for carbon credits and sustainability educational activities for students.

CORPORATE RESPONSIBILITY

Campus Tank Capacity Use

Waverley 500,000 litres Irrigation of the horticulture facilities and grounds maintenance.

Moorabbin 360,000 litres Toilet flushing and grounds maintenance.

Chadstone 150,000 litres Used to supply water to a portable drip system to allow irrigation of the gardens and trees.


Holmesglen Charitable Foundation

The Holmesglen Charitable Foundation was established in 2007 with a view to supporting the activities of students and staff who will contribute to the ongoing development of the Institute.

Each year the major source of funding for the Foundation has been proceeds raised through the Holmesglen Corporate Golf Day which is run as part of the Holmesglen Awards Festival. In 2011 over $50,000 was raised through corporate sponsorship. This is a testament to the excellent work done by the Golf Day organising committee and the high level of commitment from our external suppliers.

The Foundation funded a range of student excursions and camps to the Holmesglen Rural Learning Centre at Eildon. This activity has proved to be highly valued by both students and staff who have indentified it as an excellent team building activity which facilitates students’ personal growth whilst also allowing students to be immersed in the natural environment and undertake recreation activities aimed at extending their physical strength.

In addition, the Foundation contributed to enabling hospitality student, Amy Stanley to take up an internship at Mugaritz, a renowned restaurant in Spain. This restaurant was voted fifth in the San Pellegrino World’s 50 Best Restaurants for 2010.

The Foundation also continued its sponsorship of local sporting clubs that have partnerships with Holmesglen’s Vocational College.

Corporate Art Project

Ongoing acquisition of new artworks has consolidated the Holmesglen collection into a notable group of over 50 works. Now in its seventh year, the Holmesglen Collection has developed into a quality representation of contemporary Australian art practice while enhancing the cultural amenity of the Institute and providing a unique opportunity for debate about and appreciation of contemporary Australian art in a vocational education setting.

AcquisitionsThe program continued to support contemporary Australian artists through the purchase of new works from the primary market. Acquisitions for 2011 comprised: • Lionel Bawden, Secretion III, 2011, coloured Staedtler

pencils, epoxy, incralac on Perspex shelf, variable dimensions

• Katherine Huang, Adobe, 2011, porcelain, 19 x 14 x 14 cm, Miniature Art Exhibition, 2011, porcelain, 20 x 13 x 13 cm, Palette, Free Pebbles, 2011, porcelain, 16 elements, variable dimensions

• William Mackinnon, Happy and Sad (Johnny and Walangkura), 2011, acrylic, oil and enamel on linen, 99 x 120 cm and The Lucky Country, 2011, acrylic, oil, enamel and ochre on linen, 88.5 x 123.7 cm

• Tim McMonagle, That’s the style, Mary, 2011, oil on linen, 183 x 183 cm

• Viv Miller, Sunbeams and Rocks, 2010-11, oil, enamel, pencil and acrylic on linen, 180 x 150 cm

• Simon Terrill, Balfron Tower, 2010, Type C print, A.P., 182 x 150 cm

Works purchased for the collection in 2011 are currently displayed at the Chadstone and Moorabbin campuses.

Public lecture seriesOne free lecture by the practising artist and highly regarded conservator, Penny Byrne, was offered to the Holmesglen and wider community during 2011. Penny delivered an engaging presentation at the Chadstone campus in May. This lunchtime talk provided the general public, staff and students with the opportunity to actively participate in the art project and to discuss contemporary Australian art and issues surrounding its production and consumption, in an informal environment on campus.

Rural Learning CentreAs part of a project initiated in 2010 in which students from the Department of Design, Multimedia and Art worked towards designing site specific signage for the walking tracks around the Rural Learning Centre, a series of markers were produced and installed this year. Production of corresponding brochures and an information board also commenced.

Past Employees’ Association

In 2011 the Past Employees’ Association continued to be a dynamic and growing network of past employees and board members. Since its inception in 2007, the Association has been administered by a committee comprised of both current and past employees.

Largely, the group has organised two functions each year, providing a forum for past employees to continue to keep abreast of Holmesglen initiatives and developments whilst also retaining contact with their past colleagues.

The first function in 2011, held at the Moorabbin campus, gave the group an opportunity to take a tour of the newly completed health sciences building. All participants agreed that the building exceeded all expectations and certainly matched “world class” facilities elsewhere. Formalities also included a presentation from Vocational College students who had recently undertaken the Kokoda Trail expedition in Papua New Guinea. The students and their teacher spoke articulately about their personal growth and experiences on this once in a lifetime trip, funded by the Holmesglen Charitable Foundation.

In October the second PEA function was held at the Waverley campus in the recently extended Zest Restaurant giving the group a chance to sample the excellent quality food provided by Holmesglen’s cookery students and their capable teachers. This function also included a tour of the recently completed building at Waverley which houses the Vocational College, the Early Childhood Department, Language Centre and a wonderful new Information Office and enrolment centre.

At each of the lunch functions members made donations to a fund which once again enabled the Past Employees’ Association to provide a special award and prize for the Vocational College student deemed to be the “most improved student”.

The level of participation and engagement in the Past Employees Association demonstrates that past and current staff have a desire to continue to have contact with the organisation to which many of them have devoted years of service and commitment. The fabric of the Holmesglen culture continues to be enhanced by the existence of the Past Employees’ Association.

| Excellence

scholarshipWe support freedom in intellectual inquiry and

creative expression and encourage the development

of knowledge through scholarly activities.


Overview

Throughout 2011 the Institute continued its commitment to the consolidation of its higher education expertise and capacity by refining and developing new products, including the:•Successful launch of Holmesglen’s inaugural Higher

Education conference. •Effective completion of the AUQA audit in August.•Establishment of an institute wide Teaching and

Learning Committee.•Development of a range of online resources to support

student learning in higher education.•Formation of an Ethics Review Panel to monitor and

manage low level and negligible risk research at Holmesglen.

•Accreditation of the Bachelor of Fashion (Apparel Engineering and Design).

•Accreditation of the Graduate Diploma of Facility Management, Graduate Diploma of Construction Management and the Graduate Diploma of Surveying.

•Re-accreditation of the Bachelor of Business (Accounting).

•Completion of research into the “Scholar Practitioner” at Holmesglen.

•Completion of a research report on attrition and retention of students in higher education at Holmesglen.

•Expansion of its higher education induction program to include a program specifically for higher education administrators.

•Development of a Work Integrated Learning community of practice.

•Completion of a benchmarking report on “Academic Support Services in Higher Education Institutions”.

In 2011 a total of 1,506 students undertook higher education and graduate certificate programs at the Institute in the following programs:

Degree programs:•Associate Degree in Early Childhood Education•Bachelor of Early Childhood Education•Bachelor of Applied Management Studies•Bachelor of Applied Science (Built Environment)•Bachelor of Building Surveying•Bachelor of Construction Management and Economics •Bachelor of Business (Accounting)•Bachelor of Business (Executive Administration)•Bachelor of Business Studies•Bachelor of Facilities Management•Bachelor of Hotel Management•Bachelor of Nursing•Bachelor of Screen Production•Diploma of Commerce

Graduate certificate programs:•Graduate Certificate in Graphic Design Practice•Graduate Certificate in Human Resource Management•Graduate Certificate in Logistics and Operations

Management•Graduate Certificate in Management•Graduate Certificate in Marketing•Graduate Certificate in Computer Crime Investigation•Graduate Certificate in Environment Protection

(Enforcement)•Graduate Certificate in Public Relations

Despite the increasing recognition for excellence of Holmesglen degrees programs, the lack of access to Commonwealth Supported Places for all programs continues to be problematic. The Institute is hopeful that the demand driven funding for higher education this year will eventually be open to all higher education providers, not just universities, as the uncapping of university placements will undoubtedly impact upon enrolments in all non-university higher education providers.

Key Achievements

AUQA Audit

Holmesglen utilised the AUQA audit to ensure that the Institute maintains its position as a highly respected provider for higher education programs that supports scholarship, underpinned by applied learning approaches and provides access and pathways to a wide range of students.

Inaugural Higher Education Conference

Holmesglen held its inaugural higher education conference entitled, “Quality Teaching: Extending the Possibilities”. The conference provided the opportunity for staff to participate in the Scholar Practitioner research project and to hear from informed speakers in relation to the delivery of higher education in a contemporary mixed sector provider.

Accreditation of Graduate Diplomas

Holmesglen’s accreditation of post graduate courses in 2011 is a reflection of the growth and commitment Holmesglen has to higher education.

HIGHER EDUCATION

| Scholarship


SPEAKING ENGAGEMENTS

Chief Executive, Bruce Mackenzie PSM

Name of Staff Member

Title of Paper or Presentation Venue Date of Presentation

Bruce MackenziePresenter

4th Annual Australian Higher Education Congress 2011. Theme: “Building Pathways” Title of Paper: “Do Degrees belong in a TAFE Environment?”

Sydney Convention Centre

8 March

Bruce Mackenzie Panel Presenter

FIN Review Higher Education Conference 2011. Theme: “The Role of Tertiary Education in improving Australia’s productivity” Title of Paper: “TAFE/Tertiary Education and the Federal Budget 2011”

Sofitel Wentworth Sydney

28 June

Bruce MackenziePanel Presenter

HERDSA Int’l Conference. Theme: “Higher Education on the Edge” Title of Paper: “The Importance of an Inter-Connected Tertiary Sector”

Radisson Resort Gold Coast

6 July

Bruce MackenziePanel Presenter (Leaders Panel)

Tertiary Education Management Conference (TEMC). Theme: “Riding the Waves”Title of Paper – “Higher Education 2015 – 2020”

Gold Coast Convention and Exhibition Centre, Gold Coast

16 August

Bruce MackenzieSpeaker

University and Tertiary Education Symposium 2011.Title of Paper : “TEQSA’s Impact on an Inter-connected Tertiary Sector”

Holme Building, Sydney University

31 August

Bruce MackenzieSession Chair

TDA National Conference 2011. Theme: “Balancing the Big Issues” Session Chair for Stream 1: “Why should TAFE Offer Higher Education?”Notes on response to Peter Mares on “Internationalisation and a Big Australia: Debates on Migration, Education and Population”

Sheraton on the Park, Sydney

5 September

Bruce MackenzieConference Chair

2011 Modernising Apprenticeships and Traineeships Conference. Theme: “Designing employment and training relationships to support increased completions and produce highly skilled workers”

Sydney 20 September

Faculty of Business & Finance



Dr Simon Lye What controls the Australian airspace ticketing prices? The Global Business, Economics & Finance Research Conference London, UK

14 - 17 July

Emmy Pham Moving towards the East: Challenges and issues facing Australian transnational education in Southeast Asian and East Asian countries.

The 3rd Engagingwith Vietnam: An Interdisciplinary Dialogue Conference.Hanoi, Vietnam

4 - 5 December


Faculty of Design, Arts & Sciences



Colin Perry ‘Pathways through reality: Integration of new media formats into documentary research’

2011 Australian Screen Production & Research Association at Curtin University in Perth

July

Sky Crompton ‘Future Asian diaspora cinema: Asian narrative in Australia’

2011 Screen Futures Conference in Melbourne

July

Colin Perry ‘New media formats of documentary and their implications for practice’

2011 Screen Futures Conference in Melbourne

July

Faculty of Health Science, Community Studies & Education



Estelle Irving Shining a light on children’s learning Sydney, National Investment for the Early Years (NIFTeY) Conference

July

Leone English Changing landscape in higher education – the TAFE perspective (invited speaker)

HERDSA Conference, Deakin Prime, Melbourne

18 July

Leone EnglishDaniel Beelitz, Gabrielle Koutoukidis

FIT for PRACTICE! – Assisting undergraduate nursing students to connect theory to practice through the ‘Fully Integrated Teaching(FIT)’ Curriculum – 90 min workshop presentation

SimHealth Conference, Sydney

September

Estelle Irving The impact of television on the development and wellbeing of babies and toddlers

International Society for Cultural & Activity Research (ISCAR) Conference – Rome, Italy

September

Louise Alexander Amy Dearsley

Integrated simulation-based education in undergraduate nursing students

SimHealth Conference, Sydney

September

Estelle Irving The New Australian Qualifications Framework Holmesglen Waverley (as host of state wide VATCCST conference)

November

Sheryl Rees The new tertiary landscape Holmesglen Waverley (as host of state wide VATCCST conference)

November

Jade Hansbury and Renee Kolb

Drama Victoria State Conference “Encompass”, Title: “Blue hair days”- Drama solutions for challenging students

University of Melbourne

1 December

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Faculty for Services, Environment & Lifestyle



Helen De Campo Eat Your Words:An investigation into food literacy

Australian National AVETRA (Australian Vocational Education And Training Research Association) Conference, Rendezvous Hotel, Melbourne, Australia

May

Helen De Campo Eat Your Words: An investigation into food literacy

CHME (Council of Hospitality Management Education) International Conference, Leeds Metropolitan University, Leeds, England, UK

May

Peter Horman Principles of LMS Hemisphere December

Holmesglen Employment / Business Enterprise Unit



Arie Moses Benefits of NEIS as a labor market employment program NESA conference – Sebel Hotel, Melbourne

May

Arie Moses Introduction to small business Victoria Small Business Month Festival

August

Faculty of Language & Vocational Pathways



Audrey Don What is the hidden job market? Workforce Victoria:Department of Innovation, Industry and Regional DevelopmentMelbourne

February - June 10 presentations

Audrey Don The hidden job market and networking skills CPA National Careers Expo: Melbourne, Adelaide, Queensland, Perth, Tasmania, Canberra

Six presentations during March

Audrey Don The hidden job market and networking skills Engineering Careers Expo 2011Engineers AustraliaEtihad Stadium

31 March


Learning Commons



Zita Youens The role of VATL in supporting the paradox of collective autonomy for Victorian TAFE Libraries

TAFE Australasia Library Conference, William Angliss Institute, Melbourne

29 July

Stephen Harrison Stocktake wirelessly and painlessly: online vs offline, symphony inventory item vs PocketCirc, teams vs individuals

COSA User conference 2011, Melbourne Marriott Hotel

8 November

Student Services



Fred Wright Rasch analysis of data from CALD background students Deakin University - Burwood

November

Fred Wright International students and meta-cognitive difficulties ISANA and ANZSSA - Mental Health and International Students Conference - Melbourne

16 November

Patrick Ashe Delivering a social inclusion program ISANA and ANZSSA - Mental Health and International Students Conference - Melbourne

16 November

Jane Low (Placement student)

Moderators for suicidal ideation in international students ISANA and ANZSSA - Mental Health and International Students Conference - Melbourne

16 November

Fred Wright Meta-cognition and diploma students of CALD background University of Technology, Sydney - AZSSA Biennial Conference

December

| Scholarship

ACCESSWe offer relevant vocational programs and

services for all individuals through a variety of

teaching modes, enhanced by relationships with

other education institutions and key industries.


FACULTY REPORTS

Key Achievements•Extended onsite program in bricklaying, wall and ceiling lining, wall and

floor tiling, plumbing, painting and roof tiling to incorporate a training and assessment focus.

•Expanded alternative pathways program for the Advanced Diploma of Building Surveying. Students placed with industry combined classroom based learning at the Institute with industry based projects and assessments conducted in consultation with the host employer.

•Designed and implemented online learning and assessment program for painting and roof tiling apprentices using the TAFE-VC platform.

• Implemented competency based completions for trade based courses.•Conducted Building Design Presentation Evenings. These well attended

events allowed graduating Advanced Diploma of Building Design (Architectural) students to showcase their final projects to an industry audience.

•Bricklaying teachers and apprentices worked with the University of Melbourne and Monash City Council in a letterbox project that saw bricklaying students construct brick letterboxes designed by University of Melbourne architecture students.

• Implemented the partnership between BCAD and the newly formed College of Building to create opportunities for members of the Australian Institute of Building across the Asia-Pacific Region to undertake further study and professional development programs through Holmesglen’s online degree Moodle platform.

•Continuation of the partnership between BCAD and the Air conditioning and Mechanical Contractors’ Association (AMCA). Establishment of a Centre of Excellence and a refurbishment of the BCAD Air-Conditioning Laboratory.

•Established a commercial partnership between BCAD and SEEK Learning to market and deliver diploma and certificate IV level building courses across Australia.

•Signed a Memorandum of Understanding with the Australian Glass and Glazing Association to provide industry based training for glass industry employees in the newly accredited qualification in glass processing.

FACULTY OF BUILDING CONSTRUCTION & ARCHITECTURAL DESIGN

OverviewThe Faculty of Building Construction & Architectural Design (BCAD) is comprised of the following Departments and program areas: Advanced Building Technology; the Built Environment Degree Program; Carpentry, Glass and Glazing Department; Plumbing and Construction Finishing Department; and the Trowel Trades Department.

The Faculty offers a diversity of programs in VET and higher education including: pre-apprenticeships, apprenticeships and advanced diploma level programs, and degree studies in the built environment.

BCAD works closely with companies and industry organisations in the development of industry specific training programs and assists community organisations through a range of building project work.

| Access


Key Achievements• Holmesglen business degrees enrolments continue to be strong

with over 800 students enrolling in degrees within the Faculty. Most popular was the recently re-accredited Bachelor of Business (Accounting) which has professional recognition with all three professional bodies, CPA Australia, Institute of Chartered Accountants and the Institute of Public Accountants.

• Marketing and advertising students undertook industry projects with Ormond Traders Association, East Bentleigh VET clinic, Back on Track Osteo and others businesses to ensure their newly learned skills could be applied in real business situations.

• The Faculty delivered industry training to three city councils and a number of businesses.

• A residential camp was held for newly arrived Chinese students to improve their study skills and enhance their Australian experience.

• All staff continued to undertake training in e-learning skills and pedagogy, continuing the increase in high quality e-learning resources available to students.

• A number of staff were supported in obtaining Masters and PhD qualifications.

• A residential staff conference was held at the Rural Learning Centre to focus on strategies to increase student retention and prepare for the AUQA audit.

• Good employment outcomes for graduates continued, including five legal practice students gaining graduate secretarial positions at Blake Dawson Waldron.

• 13CABS continued their long time support of Holmesglen students and again sponsored a student conference.

• The Faculty expanded its delivery options with the addition of a number of courses able to be taken online and through a flexible drop in centre.

FACULTY OF BUSINESS & FINANCE

OverviewThe Faculty of Business & Finance comprises the departments and program areas of Business Studies; Finance Studies; and Graduate and Degree Programs across the Chadstone and Moorabbin campuses.

The Deakin University transfer program and the Charles Sturt University business and hotel management degrees, and a range of Graduate Certificates are also delivered by the Faculty.

The Offshore Department co-ordinates the delivery of programs at five campus locations in China.

The Business Industry Training Department delivers accredited programs both on and off campus to meet the needs of industry.


Key Achievements

Arts, Communications & Science• Students benefited from instruction from talented and awarded staff

members including: - Hazel Edwards who has been nominated for the Astrid Lindgren

Award for International Children’s Literature for the third year in a row. Hazel Edwards also co-wrote a book ‘f2m: the boy within’ and has had the novel recommended as useful reading for therapists in Books for Older Readers – Australian Family Therapists Award.

- Kristin Henry who launched her book, ‘An Atheist in the Foxhole’, in November 2011.

- Ray Mooney whose co-authored book ‘A Pack of Bloody Animals: Walsh Street Revisited’ was released in November 2011.

- David Ray in the Ceramics Department who was a finalist in the prestigious Basil Sellers Art Prize 2011.

• The Screen and Media (Radio and TV) students produced television show, HIT TV, shown on Channel 31 was nominated at the Community Television annual Antenna Awards for 2010 Best Young Persons’ Program.

Design, Multimedia & Art• Bachelor of Fashion (Apparel Engineering and Design) course

accredited by the VRQA.• Formal articulation arrangement established with Deakin University for

graphic design.• Staff conducted a Careers Forum at the 2011 Melbourne International

Animation Festival (MIAF).• The Department sponsored the Best Tertiary Animation award at the

2011 ATOM Awards.• Design students undertook a number of projects associated with

the Rural Learning Centre to develop images for use both across the Institute and externally.

• Holmesglen was accepted as an Associate Member of Australian Screen Production & Research Association (the first TAFE to be accepted).

• Two students in the Advanced Diploma of Graphic Design were selected for the new emerging designer committee for the Design Institute of Australia.

• Two Diploma of Graphic Design students were part of the organising committee of Semi Permanent Design Conference - an international design forum.

• The Awards, invitation, booklets and all advertising for the Southern Cross Packaging event were designed by two students, Caleb de Gabriel and Marcus van den Heuvel.

Furniture Industry Design and Innovation Centre• Holmesglen sponsored the Certificate III awards at the 2011 Furniture

Industry Association of Australia (Vic) Awards night.• Holmesglen was a sponsor at the 2011 Cabinet Makers of Victoria

Awards night.

Across the Faculty• The Faculty sponsored the 50th Melbourne International Film Festival

Shorts Awards for Best Animation Short Film and three past staff members won with their film, “Nullarbor”.

• Ceramic, Visual Arts & Graphic students were invited to exhibit in “The Teapot Tips” exhibition held at Bayside City Council.

FACULTY OF DESIGN, ARTS & SCIENCE

OverviewThe Faculty of Design Arts & Science is comprised of the Departments of Arts, Communication & Science; Design Multimedia & Art and the Furnishing Industry Design & Innovation Centre.

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Key Achievements

Electrotechnology• Michael Hogan, a certificate II student, was awarded the 2010

Australian Vocational Student of the Year in the early part of 2011.• The Electrotechnology Department successfully commenced rolling

out iPads to students as part of curriculum delivery and learning strategies.

• Successful attraction of funding via the DEEWR National Workforce Development Fund through a joint application with the ETU. This program allows qualified electricians to obtain the GGE credential and the Certificate IV in Electrical with specialist studies in a number of streams including renewable, solar and wind energy. A highlight of this program is the unique delivery strategy across two sites, Holmesglen Moorabbin campus and the Rural Learning Centre, with both sites being used for practical and theoretical delivery.

Engineering• 2011 was the second year that the Faculty entered the RACV Energy

Breakthrough Challenge held in Maryborough. This project brought a number of departments together to work co-operatively to achieve a rewarding student outcome. Holmesglen designed and built a replica 1920’s Bugatti which competed and came first in its class. It also took out the Austin 7 Club “Best Hybrid Innovation” Award.

Information Technology• A strategic alliance with Prolearn Corporation saw the Department

enrol students into IT diplomas and credential them using RPL and on-the-job-assessment.

• Several IT students were awarded prizes in the IT Challenge run by Monash University. Faculty students came first, second and third in the 3D Animation using Maya category.

FACULTY OF ENGINEERING, ELECTRICAL & INFORMATION TECHNOLOGY

OverviewThe Faculty of Engineering, Electrical & Information Technology comprises three departments. The Computing and Information Technology Department offers IT courses from certificate I to degree studies at both Chadstone and Moorabbin. The Engineering and Electrotechnology Departments, based at Moorabbin, offer training in electrical studies, post-trade engineering, fabrication, renewable energy and air-conditioning/refrigeration.


Key Achievements

Health Science & Biotechnology• Launched new Holmesglen Simulation Centre at Moorabbin. • Increased membership of the Victorian Simulation Alliance (VSA) to

over 120 and launched new website. • Awarded Australian Learning and Teaching Council grant of $117,000

to support the development of clinical assessment tools in the Bachelor of Nursing.

• Implemented a ‘second life’ program within the Diploma of Laboratory Technology – linking with students in the USA.

• Maths support course implemented to facilitate entry and progress in the Diploma of Nursing.

• Partnership established with BreastScreen Victoria with new screening site and Radiographer Training Centre opening at Moorabbin.

Early Childhood Education • Successfully implemented Years 1 and 2 of the new Bachelor of Early

Childhood Education.• Achieved accreditation with CRICOS to deliver the new degree to

international students.• Established indoor and outdoor Early Learning Simulation Centre in

the new Waverley facility.• Hosted the state wide Victorian Association of TAFE Child Studies

Teachers (VATCSST) Conference at Waverley.

Community & Transitional Education• VCAL (Foundation), Certificate I in Transition Education and Certificate

I in Work Education students displayed their work in “The Patterns of Life” exhibition at the Kingston Arts Centre.

• Drama production ‘Six Below’ performed by Certificate I in Transition Education students at the Collingwood Underground Carpark.

• Rural Learning Centre utilised as a vocational learning environment for Certificates I in Horticulture, Hospitality and Work Education.

• Significant increase in mid year enrolments in the Certificate III in Aged Care as a result of offering the course in a new flexible and blended delivery mode.

Social Science• Partnerships with Berry Street and VISTA Community support resulted in

120 regionally based employees trained in the community services field. • Collaborated with Fitzroy Legal Service in the development and launch

of the online Educational Portal.• Two students in the Certificate IV and Diploma in Youth Work

undertook placement with STEPS Youth Connections programs operating in Tennant Creek in the Northern Territory.

• A strong partnership with Victorian Police Academy lead to over 20 Advanced Diploma of Justice students participating in assessment role plays integral to police training.

FACULTY OF HEALTH SCIENCE, COMMUNITY STUDIES & EDUCATION

OverviewThis large Faculty offers a diverse range of courses across all metropolitan campuses within the following four departments: Health Science and Biotechnology; Social Science; Early Childhood Education; and Community and Transitional Education.

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Key Achievements

Holmesglen Language CentreThe Language Centre delivered courses to a diverse range of students including teachers, student graduates, adult migrants and industry based employees:• English language intensive courses for overseas students.• Adult Migrant English Program delivered to over 600 recently

arrived migrants. • Workplace English language and literacy programs for employees in

the workplace.• Teacher training programs for teachers of English as a Second Language.• Advanced level training including work placements to migrants

through the English for Migrant Professional Programs for Health Professionals, Teachers, Engineers, Accountants, IT and Business Professionals. The program trained 263 skilled migrants in 2011 with around 50% gaining employment directly after the course.

• A professional year program for 63 international student graduates in accounting and engineering and a specialised teacher placement program for 37 overseas qualified teachers, funded by the Department of Education & Early Childhood Development.

• An academic skills tutorial program to students of non-English speaking backgrounds including those in degree programs.

Holmesglen Vocational College• A significant expansion of programs with the opening of a new college

facility in Building 12, Waverley campus. • The implementation of VCAL Foundation with mid year intake for a

group of “educationally at risk” young people.• All students in Intermediate and Senior VCAL had the opportunity to

attend programs at Holmesglen’s Rural Learning Centre. • 80% of students at the VCAL Intermediate level completed a practical

placement program. • Students became involved in community projects including the

restoration of the Scotchman’s Creek area adjacent to the Waverley campus and the vegetation on the Bayside foreshore.

• The participation of 95 students in 11 different sporting fixtures of the BeachSide District of Schools Sports Victoria.

• Project based learning was expanded through partnerships including those with SYN FM radio broadcasting station, Scope, Monash Council and Kingston Council Youth Services.

• 85% of students graduating from the VCAL Senior program had educational or employment pathways in place for 2011.

FACULTY OF LANGUAGE & VOCATIONAL PATHWAYS

OverviewThe Faculty of Language & Vocational Pathways is comprised of:• The Holmesglen Language Centre

which delivers language, literacy, numeracy and teacher training programs at all three Holmesglen campuses, in the CBD and to industry.

• The Holmesglen Vocational College which is a centre for learning for students aged 16 to 18, offering the Certificate I in Vocational Preparation and the Victorian Certificate in Applied Learning (VCAL). Programs are offered at both the Moorabbin and Waverley campuses.


Key Achievements

Hospitality, Cookery and Bakery• Holmesglen graduate apprentice, Colin Wilson, won best apprentice

in Australia at the 2011 Australian Training Awards. This followed his success in winning the 2011 Victorian Training Awards.

• Holmesglen’s participation in the Melbourne Food & Wine Festival continued with students and staff working with some of the world’s best chefs at the Langham Masterclass. As a result of this partnership, Amy Stanley (2nd year apprentice) went to Spain to work at Mugartiz (third best restaurant in the world) for eight months.

• Key industry figures from some of Melbourne’s best restaurants worked with Holmesglen chefs to reinvent the cookery programs and ensure it is cutting edge for apprentices.

• Student Angela Bernaldo completed a luxury two month internship with the Sheraton Grande Laguna Phuket, Thailand.

• Trainers and students from front of house supported Marysville World’s Longest Lunch, attended by 200 guests.

• The Department was an active member of the following industry organisations: Les Toques Blanches, Shared Tables, Restaurant and Catering Victoria, Bakery Industry Association of Victoria.

• Continued to work with industry to ensure that students were provided with a range of structured work placements during their course. Key organisations included: Crown, Grand Hyatt, Park Hyatt, The Langham, Westin Hotel, Hemisphere Conference Centre & Hotel, Chateau Yering, Meat and Livestock Australia.

Tourism, Events and Sport• The Diploma of Events continued to grow in popularity leading to a

greater range of fundraising events being run by students with over $20,000 being raised for charity.

• Strong group numbers and retention rates were assisted by Diploma of Tourism classes from Waverley and Moorabbin coordinating successful student visits to Queensland along with the first international trip to Singapore.

• The events and tourism VET in Schools programs were again popular, particularly tourism with trips to Queensland and Sydney.

• The Sport and Recreation Department successfully commenced the new program to include the Diploma of Sport (Development).

Recreation, Fitness & Complementary Health• The new Diploma of Fitness was well subscribed and proved to be a

successful enhancement to the fitness profile. The introduction of a range of online options has been very popular.

• The new triple Advanced Diploma in Naturopathy/Western Herbal Medicine/Nutritional Medicine commenced in February.

• The Remedial Massage program increased student participation in the community through partnership with a suburban clinic that supplies numerous services to the disadvantaged.

• The Diploma of Outdoor Recreation expanded field trips into South Australia and Tasmania (Franklin River), ensuring that students have speciality skills for south east Australia which are in high demand.

Horticulture• Implemented a Home Sustainability Assessment course. • Developed a strong link and partnership with Parks Victoria and Max

Employment for delivery of certificate programs to disadvantage youth.• Students completed a project at a local primary school.• Formation of a partnership between Southern Metropolitan Trust to

deliver grave digging and parks and gardens courses.• Implemented the Diploma of Sustainability program for students.• Showcased at the Melbourne International Flower and Garden show.

Students won gold and silver in the achievable garden competition.• Horticulture students propagated and planted indigenous eucalypts at

the Rural Learning Centre. • Continued a partnership with a local primary school and completed

the three year project. • Strong industry partnerships within the landscape, nursery and the

turf industries.

FACULTY FOR SERVICES, ENVIRONMENT & LIFESTYLE

OverviewThe Faculty for Services, Environment & Lifestyle offers a range of programs from pre-vocational through to advanced diploma in a range of disciplines including Hospitality, Cookery, Bakery, Tourism, Events, Sport & Outdoor Recreation, Fitness, Complementary Health and Horticulture. Courses are offered at the Moorabbin and Waverley campuses. The Faculty Fitness Centre, located at Moorabbin, along with the Wellness Centre, located at Waverley are both open to the Holmesglen and local communities.

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Key Achievements• International student enrolments have suffered a significant decline • (28% downturn) however enrolments in higher education programs have

been maintained.• Successful market diversification strategies and increased transnational

education partnerships with institutions in China have greatly assisted in maintaining enrolment levels.

• Successfully implemented a social inclusion program to facilitate international student integration into the community and with the local student body.

• Established an employment placement and internship service for international student graduates.

• Managed the Chilean government’s VET scholarship program in Australia.• Gained CRICOS accreditation for the Bachelor of Fashion

(Apparel Engineering and Design).• Developed a safety video to highlight safety and security issues for

international students.• Developed a range of promotional material in Mandarin for the Chinese market.• Implemented a new integrated electronic business system in the

International Centre.• Commenced offshore delivery of the Diploma of Accounting at the Sichuan

Tianyi University in Chengdu, China.• Implemented a transnational education partnership agreement with the

Henan Chemical Vocational College for the offshore delivery of Diplomas in Accounting, International Business, Hospitality and Tourism.

• Implemented a new partnership with the Hunan International Economics University, Changsha covering the offshore delivery of the Diploma of Accounting.

• Signed articulation agreements with the Guangdong Textile Polytechnic and the Dongguan Polytechnic in Guangzhou.

• Conducted professional development workshops for offshore teachers at partner institutions in China.

• Commenced capacity building projects with two VET institutes in Ulaan Baatar, Mongolia funded by the Millennium Challenge Account.

International Visits• Details of overseas visits undertaken is available on written request to the

office of the Chief Executive.

INTERNATIONAL CENTRE

OverviewThe International Centre recruits students from all over the world to study at Holmesglen, manages the delivery of programs offshore and provides consultancy and management services for a range of overseas projects. The Centre is responsible for marketing Holmesglen programs overseas, providing a wide range of services for international students and managing compliance with the ESOS Act.

Risk Management/Offshore Programs

The nature of identified strategic and operational risks and the strategies established to manage such risks.

1.0 The principal areas of risk for the organisation in its engagement in international activities are identified, and detailed, in the Holmesglen Institute Risk Management Plan’s Risk Register.

2.0 The principal areas of risk for the organisation in its engagement in international activities, with particular relevance to the overseas delivery of its programs, are encompassed within the Risk Management Plan.

3.0 The Risk Categories relevant to the organisation’s activities, including offshore programs, include:• Commercial• Strategic Context• External Factors• Information Technology• Strategic Planning and Management• Liability• Human Resources• Safety & Security

4.0 Each Risk Category specifies:

4.1 Risk Definitions: eg under the Commercial category, a broad definition such at Threat to International Market. Under the broad Risk Definition are noted specific defined risks relevant to the broad Risk Definition (eg under the Risk Definition ‘Threat to International Market’ – the specific defined risk of ‘deterioration of relations with international partnership/s’.

4.2 Consequences: the full range of consequences identified, eg business interruption, damaged reputation, loss of enterprise, morale, financial, human resources, loss of students.

4.3 Inherent Risk Ranking: ie Likely/Significant

4.4 Risk Management Strategy: strategies aimed at addressing specific risks as defined, and in light of likely identified consequences (such as strategies focusing on: Student Satisfaction, Legislative Compliance, Retention of Competitive Advantage, Monitoring, Protection of International Partnerships, Monitoring Fees & Payments).

4.5 Risk Treatment Control: specific control measures to address each identified Risk Management Strategy. eg The Risk Management Strategy for Protecting International Partnerships notes the Risk Treatment Control as:• Review viability of partnerships on an ongoing basis• Maintain a strong international agent’s network• Implement continual lobbying, advocacy, networking processes• Allocate responsibilities with respect to safeguarding

the Institute’s international registration status

In addition, new or revised/improved Risk Treatment Controls are introduced as a matter of routine through review and evaluation processes. Such new controls (as relevant to the example noted immediately above) include:• Allocate responsibilities with respect to the

establishment of, maintenance of, and review/evaluation of international partnerships

• Implement a regular partnership reciprocal visits program• Implementation of partnership staff training programs

The appalling service of Australian Government agencies in relation to client service is difficult to minimise.


ADMINISTRATIVE REPORTS

CORPORATE IMPROVEMENT UNIT

OverviewThe Corporate Improvement Unit is responsible for the maintenance of the Holmesglen Management System in accordance with external requirements and provides support across all areas of Holmesglen for effective implementation of compliant processes.

In 2011, a number of business operational processes were amended to reflect current requirements. The current focus of the Corporate Improvement Unit is on the re-development of the Holmesglen Management System to improve the effectiveness of the internal review process and the user-friendly functionality. The re-development is a staged process with stage one introduced in September 2011.

The Corporate Improvement Unit also provides Training for Reviewers of the Holmesglen Management System.

Key Achievements • The scheduled Management System Reviews were

conducted and led by the Corporate Improvement Unit staff. Local Reviews were completed at the faculty/centre/department level.

• A number of business rules and operational processes were introduced or modified. In particular, one new process and thirteen modified processes specific to Higher Education were included to reflect current requirements of the Higher Education Standards Framework.

• Most significantly, Holmesglen underwent a triennial audit in November conducted by the internationally certified body, SGS, for: - AS/NZS ISO 9001:2008 Quality Management

Systems - AS/NZS 4801:2001 Occupational Health and Safety

Management Systems. • The audit included a review of every department and

faculty/centre across the Chadstone, Moorabbin, Waverley and Dingley campuses. Three minor corrective actions were identified. The improvement process has been initiated to include stakeholder involvement for contractor management, emergency management and supplier management processes. Ongoing certification has been issued to Holmesglen for the next three years.

• The Corporate Improvement Unit was also involved in training programs to support our key operational processes: - Three Refresher training for the use of the Scope of

Registration Database sessions were conducted to facilitate the enrolment process.

- Four Auditor Training for Reviewers programs were conducted to facilitate the Local Review process.

- Three Chemwatch CG-3 Training programs were facilitated to support staff with the upgrade to the new Chemical Management System for the maintenance of dangerous and hazardous substances.

GRADUATE EMPLOYMENT SERVICE

OverviewA new initiative in 2011 was the establishment of a Graduate Employment Unit, tasked with seeking employment opportunities and placing Holmesglen graduates into employment at the completion of their courses.

The Graduate Employment Service is a complementary, professional service to industry and all graduates of Holmesglen including those who have graduated in other than the current year. One staff member is focused on placing international students into internships or employment which will assist with them gaining permanent residency. Another focus is the placement of graduates from Holmesglen’s suite of higher education programs.

The employment service staff actively establish networks and contacts with industry both in Victoria and nationally whilst also conducting many information sessions for students and pro-actively assisting them with preparation for employment. Some gratifying results have been achieved in the early stages of this new value added service for students.

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LEARNING COMMONS

OverviewThe Learning Commons provides a single point of access to information, research and study resources to Holmesglen staff and students in an innovative learning environment across four branches. It is also a learning hub which facilitates socialisation as well as quiet reflection as part of the total learning experience.

In addition to traditional print resources, information is being increasingly purchased in electronic format, which allows clients to access important resources both on and off campus. Professional librarians develop and deliver information literacy training sessions to help students develop the skills they require to fully utilise these resources and undertake effective research.

Key Achievements• Refreshed and refurbished the Learning Commons

branch at Chadstone with increased number of student study and group discussion rooms.

• Inclusion of a large group study space within the Chadstone branch, to enable students to work in large groups without excessive noise impacting on the larger collaborative work space.

• Update of the Learning Commons’ website to enhance usability and increase compatibility with the Institute website. Features include improved links to research tools and subject guides, easier access to users’ accounts and loan policies, and a latest news section.

• Inclusion of Study Skills information for students on the Learning Commons website. This was undertaken primarily to support the increased levels of research and other study skills required by Holmesglen students undertaking higher education. Study Skills information was prepared by the Learning Commons in consultation with Academic Skills Unit staff.

MARKETING UNIT

OverviewThe Marketing Unit provides a range of services to attract and engage potential students and retain existing students, while promoting Holmesglen as a vocational and tertiary institution to a diverse community. The Unit is responsible for producing a consistent and memorable brand message, ensuring the website evolves to changing needs of students and other stakeholders, preparing and publishing major publications, planning and execution of Institute participation in major expos and events, identifying and conducting needed market research and co-ordinating and executing school engagement strategies.

Key Achievements• Planned and implemented Institute participation in

a range of events including Open Day and major careers expositions.

• Initiated new process for more efficient and effective online marketing.

• Implemented a new campaign creative that both distinctly identified the Institute and gave faculties freedom to establish a personality.

• Directed two marketing research projects with results providing insight into Institute positioning in relation to customer engagement, enrolment conversion and Net Promoter rating.

• Increased engagement with prospective local students through campus tours, school based careers events, expos and presentations through participation in an additional 40 events (23% increase on previous year).

• Increased efficiency and reduced wastage with introduction of new procedure for internal publication ordering.

• Significantly reduced wastage in printed brochures through more accurate monitoring and measurement of requirements at major events.

• Conducted a number of surveys and interviews to assess various aspects of the marketing service with pleasing outcomes. In particular received very positive feedback from school careers practitioners.

Publications• The Marketing Unit produced a range of publications

in hard, soft or web based format including course information and promotional publications material.

• Information about publications produced by Holmesglen or details about major promotion, publications or marketing activities is available in PDF format on the Institute website or on written request to the Marketing and Communications Manager, PO Box 42, Holmesglen, Victoria 3148.


MEDIA SERVICES DEPARTMENT

OverviewThe Media Services Department (MSD) supports delivery of programs and services with the provision of innovative and tailor made media solutions in the areas of audio visual services (educational media), graphic design, print room services and copyright.

Key AchievementsAudio Visual Services – Educational Media (EM)Educational Media offers comprehensive services in communication ideas through digital video and digital image production, PowerPoint presentations and multimedia production. • The Educational Media section has undergone the

busiest two years of video production on record.• Instrumental in the initiation, development and

implementation of the Holmesglen You Tube Channel and the design, project management and placement of a new video gallery section within the Holmesglen website. These two high profile portals now allow global visual access to Holmesglen courses, facilities and student activities.

• Responded to a correspondingly consistent demand for promotional and informational programs to be developed and displayed on both these sites.

• With the assistance from the Technology Services Department, Media Services continues to refine the use of the Portfolio digital asset management system that allows Institute departments to view promotional photographic images via their network stations.

• Collaborated with the Technology Services Department, in the introduction of IPTV - a YouTube style of programming that allows students and staff to view various media via internet protocol.

• Implemented installation of new building audio visual acquisitions/installations in new buildings across all teaching areas including; classroom integrated data video projection systems (320) and portable DVP’s (100), interactive whiteboard systems (10) and sympodium systems (10). The Institute clearly provides exceptional access for students and staff to the latest AV technologies.

• AV systems and equipment training for Institute staff also increased with approximately 175 participants being trained.

Graphic Design ServicesThe Graphic and Design Service supports departments with the transformation of ideas and concepts in finished artwork for brochures, invitations, programs, covers, posters and new media. • This area continues to show its remarkable ability to

output significant graphic design production on behalf of the Institute.

• Graphic design services expanded to meet demand with the introduction of a new part time support position.

• Upgraded to the latest hardware and software, thereby ensuring the Institute’s required graphic design service demands were meet.

Printroom ServicesThe Print Room provides an Institute wide printing and photocopying service with a 48 hour turnaround for most work.• This area continues to raise the bar with its ability to

handle an ever increasing demand for its services; • Overall revenue grew in all areas of recurrent, enterprise

activities and external work.• Greater demand for more complex job processing as

well as a stronger focus on high end colour production work being major factors.

• Heavy emphasis on benchmarking of new technologies/software systems and as a result, planning of new print production technologies and digital production software for implementation in the new year.

Copyright• MSD staff continued to facilitate a number of extensive

and varied copyright training sessions to Holmesglen teaching and administrative staff across all campuses, specifically supporting the establishment of Teaching Centre Copyright Permission/Licence Registers.

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REGISTRAR’S DEPARTMENT

OverviewThe Registrar is responsible for the effective provision of a range of services and supports across the Institute, including academic graduation ceremonies, awards preparation and issue, examination schedule and conduct, mail room, reception duties and general course information, statistical reporting, student administration, enrolment and fees collection, student information systems management, student records management, switchboard operations, timetabling of rooms and Weekend Institute operations.

The Department develops and disseminates Institute administrative policy information to current students, prospective students, past students, Holmesglen staff and the general public. The Department is responsible for collecting student statistical data and reporting to the Federal and Victorian Government on Institute activity.

Key Achievements• Development of new flexible enrolment procedures for

workplace based students and apprentices.• Purchase and trial of an electronic attendance tracking

system. Development and modification to the system to ensure it meets the needs of all academic areas in preparation for full implementation in 2012.

• Development of the Fees Calculator System which accommodates the complexity of the new Skills Reform rules, allowing Faculty based staff to accurately quote fees to prospective and continuing students.

• Opening of a new purpose built Information Office at Waverley campus, providing improved service and facilities for prospective and current students and staff.

• Reviewed and improved administrative procedures to accommodate the full implementation of Skills Reform. Staff training in new procedures rolled out across the Institute to ensure compliance with government policy.

• Development of the Scope of Registration software to streamline course compliance and administrative procedures.

• Development and introduction of new and improved data validation processes leading to improved data quality outcomes.

STUDENT SERVICES

OverviewStudent Services provides a range of support activities, responding to the needs of both full time and part time students and staff. Ongoing or crisis support is given and may be on a one-to-one basis, or using the medium of workshops for groups. In this way, Student Services contributes to the general health and wellbeing of the Holmesglen community, and aids in the reduction of student attrition rates and staff absenteeism.

Student Services comprises of the following support services: Counselling – Personal & Career; International Student Social Inclusion; Disability Support Services and Recreation & Activities.

Key Achievements• Increased provision of support for educational and

administrative staff.• Facilitated delivery of Mental Health First Aid Training to

frontline administrative and security staff.• In conjunction with the Victorian Relief Fund, developed a

Food Bank for provision of free food to students.• Social Inclusion program and its events were marketed

internally to create a higher profile with students. • The Social Inclusions Officer represented the Social

Inclusion program at all International Student Orientations introducing students to the concept of the program and his role to assist them integrate into the Holmesglen and wider community.

• Further development of a Student Safety Committee in conjunction with the Holmesglen Security Department.

• Student Services and the Holmesglen Medical Centre collaborated to ensure medical services provided met the needs of students.

• Staff provided individual counselling, career and welfare assistance to 2,382 clients, attending a total of 3,011 counselling sessions.

• In excess of 1,340 short consultations were also recorded.• Increased number of on campus events and trips

delivered by the Recreation & Activities team increased student participation numbers significantly.

• Responded to requests from Holmesglen teaching departments and developed and delivered Orientation Talks for 3,055 new students across all campuses.

• The Disability Support Service provided liaison and direct support to over 200 students, with over 9,000 direct support hours and 11,000 contacts between the two Disability Service staff and students or non-students.

• Holmesglen’s first attendance at the Southern University Games with 29 students representing the Institute in four different sports over the week of competition.

• Recreation Team took a different approach to on campus activities dividing the program into seasonal sessions and running them in conjunction with Facebook and Twitter social media site campaigns.

• The number of trips and tours delivered by the Recreation Team was the biggest for several years and included three interstate trips along with four weekend and seven day trips. The trips were well attended by International students and our program of trips and tours received much positive feedback.

• Student Services Counsellors developed a liaison role with each faculty in order to be more collaborative, inclusive and supportive of higher education student issues and staff requests.


TECHNOLOGY SERVICES DEPARTMENT

OverviewThe Technology Services Department manages information technology and communications facilities. This infrastructure and the services it provides Holmesglen’s staff and students is seen to be of key importance to the Holmesglen strategic plan.

Holmesglen’s development and investment in this infrastructure is such that it is currently seen as a showcase customer and reference site for several technology vendors, including Cisco, Hitachi Data Systems, F5, Dimension Data and Directory Concepts.

Key Achievements• Introduced a base project management methodology

and engaged contract project managers to improve outcomes and efficiencies in significant projects at Holmesglen. This included project accounting changes to improve fiscal management and outcomes.

• Capacity planning practices within the Department were also introduced to improve strategic planning, forecasting, and cost efficiencies.

Notable projects completed included: - Digital media streaming and signage solution. - Student Attendance System. - DRP testing of the finance system. - New virtual desktop infrastructure. - Backup infrastructure refresh. - Zenworks upgrade. - Phase 1 of City campus provisioning. - Mobile device management.

Notable projects still underway include: - Business Continuity Planning for all departments

and faculties. - High availability infrastructure across two data

centres. - Wireless network re-architecture.

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FACILITIES

All Government and Institute funded projects are monitored through monthly reporting to meetings of the Building and Planning Committee of the Institute Board.

Government Specific Purpose Payments

General Commonwealth Equipment Allocation ($1,525,340)This was expended on an extensive range of general equipment items for teaching and administration as well as computer and technology upgrades.

Specialised TAFE Teaching Equipment Allocation ($482,690)This was used to purchase up to date technical equipment items for arts and communications, dental technology, design, multimedia and art, horticulture, nursing, media services, painting and decorating, and recreation, fitness and complimentary health.

Building Maintenance Allocation ($556,504)This funding was used to supplement Institute Board expenditure on maintenance across all campuses.

Major Commonwealth Funded Project

Education Investment FundIn 2009 Holmesglen was successful in its application for a Commonwealth Education Investment Fund (EIF) grant of $16.8 million for the construction of a new building at the Waverley campus for Early Childhood Development, Vocational College and related services. This building was completed and officially opened in May 2011. It achieved a 5 Star Design rating from the Green Building Council of Australia and the facility is a substantial and fine addition to the Waverley campus.

Major Institute Board Funded Projects 2011

Health Sciences Building Moorabbin campusThis five level state-of-the-art facility was completed in early 2011. The building, primarily for nursing, comprises four large teaching wards, microbiology and biochemistry laboratories, two simulation suites, a community apartment, an allied health laboratory, lecture theatres, general teaching spaces, a co-operative learning centre, computer laboratories and teaching and administrative staff offices. In November it was joint winner of the New Construction /Individual Facility Award by the Victorian Chapter of the Council for Education Facilities Planners International (CEFPI). The total cost of this facility was $18 million.

International Administration Centre and Teaching BuildingConstruction of a six level building on Warrigal Rd commenced in October 2010. A budget of $20 million was provided by the Board. The building comprises four teaching floors and two floors for administration of Holmesglen’s international operations. The project is scheduled for completion in February 2012.

Student HousingIn August 2011 construction of 47 student apartments commenced in the south east corner of the Waverley campus. When completed in mid 2012 these will be subsidised by the National Rental Assistance Scheme and provide attractive individual accommodation for students. The project has a budget of $6.9 million funded by the Institute Board.

Moorabbin-Bulli Street Industrial Skills CentreLate in 2010 Holmesglen purchased an industrial property approx 500m from the Moorabbin campus with a view to consolidating the Industrial Skills courses such a forklift, scaffolding and rigging together with the safety programs in one facility. The property of 6750m2 had an existing 13 year old factory of 1650m2 and office space of a further 400m2. These spaces have been redesigned and refurbished to meet new use requirements and a mezzanine floor of classrooms has been added around the perimeter of the factory space. This work was completed in December 2011 at a cost of $2.65 million of Institute funds and will be occupied from January 2012.

Plant ReplacementThe Institute Board allocated $1 million for replacement of air conditioning plant, switchboards and fire protection equipment at Moorabbin and Chadstone campuses.

City campusIn July 2011 Holmesglen commenced leasing a seven storey building at 332 St Kilda Road and has undertaken extensive fit out works to enable a change of use from office space to education in preparation for operations in 2012. Fit out and furniture and equipment for this facility has been allocated a budget of $3.1 million from Institute funds.

Smaller Institute Board Funded Projects

Rural Learning CentreThe Rural Learning Centre which was completed in 2009 and has proven to be an excellent facility for short term residential student activities in the area and a great professional development venue for staff. In 2011 the Board allocated Institute funds to provide for additional landscaping works and an agroforestry project.

Purchasing Department Upgrade – Building 9 ChadstoneThis area was substantially refurbished to provide a much more effective environment which meets current requirements.

Other projects included upgrading classroom and workshop areas in glass and glazing, fit out of a PC Lab in carpentry, alterations to the Chadstone information office, upgrading ventilation to the bridge links (Buildings 1, 2 and 8) at Chadstone, alteration to hospitality storage areas at Moorabbin, extending the access control system at Chadstone, upgrading disabled toilet facilities at Waverley and providing an air-conditioning solution for the Waverley Server Room.


Cyclic Maintenance and Minor WorksIn 2011 the Institute maintained its commitment of $1.1 million of Board funds towards cyclic maintenance and minor works.

Building Compliance

Building Act 1993Holmesglen holds all plans and documentation for building extensions and new buildings lodged for issue of building approvals by certified building surveyors. On completion of construction Holmesglen has obtained Certificates of Occupancy and practical completion certificates from the relevant architects, surveyors and authorities.

Compliance StatementIt is considered that all buildings across campuses currently conform to the Building Regulations that existed at the time of construction of the respective buildings. All new buildings constructed since the promulgation of the Building Act 1993 (including amendments of 1 July 2007), comply with those relevant standards.

Holmesglen has an ongoing program to ensure that any alterations or improvements to buildings meet the necessary standards to ensure that they are safe and fit for purpose. Compliance with the updated Disability Code has been a significant issue in 2011.

Environmental Performance

Energy Efficient BuildingsThe Institute has undertaken the following strategies in line with Government policy:• Purchase of 10% Green power for Holmesglen’s three

major campuses – this will rise to 25% from 2012.• Installation of T5 light fittings throughout any

refurbishment works.• Continued the installation of separate smart metering

of buildings to enable closer monitoring.• Continued implementation of the Building Automation

System (BAS) on all campuses, centrally monitored from Chadstone campus.

• Carefully monitoring the room timetables to ensure facilities are not heated and air-conditioned when they are not occupied. This has resulted in significant savings in energy.

• Urinals on all sites have been converted to waterless and refurbished buildings fitted with dual flush cisterns and purpose built waterless urinals.

Environmentally Sustainable Design (ESD) Principles in New Building DesignThese include:• Building orientation to maximise the benefits of solar

passive heating and ventilation, while minimising costs• High efficiency air-conditioning infrastructure including

chilled beam technology• Automatic controls on air-conditioning systems• Materials selection• Water efficient appliances• Lighting control• Water collection, storage and re-distribution systems for

landscape purposes• Solar hot water systems• Energy efficient glazing and window shading• Commissioning and maintenance regimes• Transport considerations.

The three major building projects undertaken in 2009 - 2011 have all been designed to achieve a 5 Star Design rating from the Green Building Council of Australia.

The Institute has undertaken significant facility expansion each year making it very difficult to quantify any reduction in electricity and gas consumption. To date not all buildings are separately metered.

Additionally all new buildings are now air-conditioned for student comfort.

To take expansion into account, energy consumption per student contact hour (SCH) has been used as a better measure. This has been reducing in recent years as shown in the following tables for electricity and gas.

Electricity Consumption in kWh

Year Chadstone Moorabbin Waverley TOTAL

2006 7,538,965 4,648,324 1,519,203 13,706,492

2007 7,199,309 4,715,297 1,716,439 13,631,046

2008 7,252,021 4,590,253 1,671,647 13,513,921

2009 7,288,799 4,357,299 1,745,405 13,391,502

2010 7,229,975 4,372,031 1,835,094 13,437,099

2011 7,133,469 4,302,818 2,083,054 13,519,341

Gas Consumption in MJ

Year Chadstone Moorabbin Waverley TOTAL

2006 21,605,926 15,680,832 3,397,490 40,684,247

2007 16,024,862 15,262,953 3,822,527 35,110,342

2008 17,667,771 15,546,620 4,390,505 37,604,896

2009 14,249,393 13,220,518 4,458,266 31,928,177

2010 14,244,916 14,171,087 4,376,088 32,792,091

2011 13,409,840 14,798,656 4,890,444 33,098,940

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ENTERPRISEWe encourage business development strategies

that are innovative, well-resourced,

responsive and entrepreneurial.


Conference Centre and Corporate Suites

OverviewThe Conference Centre manages facilities and delivers conference and meeting services to internal and external clients at the Chadstone campus. Facilities managed include a purpose built Conference Centre and a suite of corporate meeting and board rooms that provide a professional environment for internal meetings and staff training programs.

Key AchievementsConference Centre• A strong financial outcome for 2011.• Catered to more than 3,000 delegates for seminars and

conferences in 2011.• Well supported by University of Ballarat, Transfield

Services, Pearson Education, Australasian Corrosion Association and Cognitive Behaviour Therapy.

• Feedback received from clients rated the venues as good value for money and that the facilities mets the needs of their conference requirements.

Corporate Suites• Provided internal meeting facilities to over 1,000 events. • Services were provided for a range of events, including

meetings, interviews, professional development training days, exhibition launches, industry entertainment, farewells and social club events.

• The corporate suites usage was an average of four events per day.

Hemisphere Conference Centre and Hotel

OverviewHemisphere Conference Centre & Hotel together form one of the largest specialised conference, meeting and training venues in the south-east region of Melbourne. Hemisphere has gained a reputation as a quality facility with an RACV four star hotel rating.

Key Achievements• Hemisphere experienced an excellent financial result

in 2011 due to a combined team effort from dedicated staff. Many team members have now achieved over 10 years of continuous service to Hemisphere.

• Conferencing clients enjoyed personalised and attentive planning assistance from their initial contact through to the day of their event with food and beverage, front desk and audio visual staff attending to all requirements.

• Feedback received from clients in 2011 consistently rated staff service as excellent, closely followed by the high standard of food and beverage offered along with the flexibility and modern décor of the venue.

• Guests of the Hotel regularly comment on the value for money and the excellent in room facilities provided.

• Hemisphere continued to increase its marketing campaign in 2011. Hemisphere’s Business Development Executive focused on promoting residential conference facilities, increasing occupancy and sourcing new business. Last minute online accommodation websites and travel agents booking via the GDS (global distribution system) increased the accommodation occupancy and continues to show growth.

• Hemisphere catered for in excess of 32,837 delegates attending various meetings, conferences, functions and other events in 2011.

• Hemisphere continues to work with the Department of Hospitality, Cookery & Bakery to integrate student work placement into its business.

Rural Learning Centre

OverviewThe Rural Learning Centre (RLC) is situated on Holmesglen’s 660 acre property at Snobs Creek near Eildon. The Centre is utilised by Holmesglen as a camp destination for students who undertake field work, live projects, competencies and outdoor recreation. It also acts as a venue for conferences, professional development and meetings for staff and external clients.

The facility includes fully catered conferencing facilities and self assessed four star accommodation, student quad rooms, a recreation precinct and an eight bedroom self catering homestead.

Students have access to a range of activities and facilities on the property including a working cattle farm, agro forestry project, wildlife zone, canoe dam, low ropes course, Snobs Creek Camping Ground, fishing and yabbying dams, fish breeding dams, extensive walking and orienteering tracks.

Key Achievements• The Rural Learning Centre attracted over 4,000 guests

of which 1,200 were students from across the Institute. • The Centre served over 25,000 meals and

accommodated guests in 2,500 room nights. • The Centre accommodated 99 different student, staff

and external conference groups in the year and utilised 73% of available days, including many weekends.

• Hosted a number of major community events including the Marysville Food and Wine Festival Business Breakfast, Murrindindi Schools Cluster Conference, Alexandra Secondary College VET Hospitality Camp and the Rotary Change Over Dinner.

• Produced a “paddock to plate” menu. This is as a sustainable, low miles menu featuring cattle reared on the property and fresh, seasonal produce from the kitchen garden and surrounding area.

• Completed a number of landscaping projects including a kitchen garden for herbs and vegetables, espaliered fruit trees, rubbish/recycling and composting enclosure.

• Developed a series of bushwalks with markers that are supported by track notes and maps both on the property and in the surrounding state forest.

• Facilitated live projects that allowed students to create, enhance and contribute to the centre and to put into practice the skills learnt at Holmesglen. Projects included: photographic artwork to student rooms, fence style design and construction, solar energy installations, bird feeder construction and markers and literature design.

• Developed a series of marketing resources including corporate and student camp brochures, corporate stationery, logo and a website presence.

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Community & Industry Short Courses

OverviewThe Community & Industry Short Courses Department offers a diverse range of programs that are tailored to meet the needs of adult learners whilst giving the community access to Holmesglen’s outstanding facilities.

The Short Courses Department offers approximately 440 face to face short courses and over 300 online courses in languages, business and computing, management training, food, health, personal development, creative hobbies, horticulture, hospitality, DIY and building and construction. Additionally, the Department offers two certificate IV courses that cater for specialised industries in real estate and building.

Key Achievements• Approximately 75 new courses were introduced to

respond to changing needs of the community and evolving technology.

• Certificate IV in Building & Construction (Building) continued to experience growth due to a sustained marketing approach and growth in the building industry. The Real Estate Agents’ Representatives course also continued to be strong.

• The Department successfully project managed the design and implementation of a new website home page.

• The Department developed associations with a wider network of industry clients through regular and targeted marketing campaigns. Consequently, industry clients were significant contributors to the overall Short Courses revenue.

• The Department streamlined its marketing objectives by implementing an integrated marketing strategy which focused on, but was not limited to; Search Engine Optimisation, targeted advertising online, in radio and print, direct mail and email campaigns and the introduction of digital publications to increase brand awareness and gain a wider exposure to industry and community clients.

• Department staff visited local libraries and schools, councils in the Monash, Stonnington, Bayside and Kingston municipalities and Job Network Agencies to promote our courses and establish good working relationships.

• Short Courses trainers were offered opportunity to upgrade their skills via several professional development programs including Certificate IV in Training & Assessment, Microsoft Office and Manual Handling.

Centre of Business Development

OverviewThe Centre for Business Development was established in 2011 in order to investigate and undertake projects, business opportunities and alliances that would enhance the operations of Holmesglen. The Centre for Business Development also provides the strategic management for Learning Innovation & Development and the Business Enterprise Unit.

The Centre for Business Development also plays a key role in Holmesglen’s participation in the VET Australia consortium, who provide cross sectoral workforce development solutions for organisations operating across three or more states of Australia.

Key Achievements• Preparation of feasibility study to establish a City

campus at 332 St Kilda in 2012.• Establishment of a strategic alliance with Didasko

Institute of Technology to launch Computer Power at the City campus.

• Participation in the successful submission of proposals for workforce development through the VET Australia consortium with organisations including government departments and commercial enterprises.

Learning Innovation and Development (LID)

OverviewLID provides support to faculties within Holmesglen and to external clients with the provision of the following services:• Targeted Professional Development;• eLearning delivery strategies;• Learning resource development (paper based

and ELearning);• Curriculum Development;• Resource development for off shore programs

In 2011 LID continued to support, maintain and develop the Training Support Network website for Skills Victoria. This project provides a technical helpdesk to support the users of the site including the general public, curriculum maintenance managers and Skills Victoria, addressing technical issues and ensuring maximum availability of the website, and developing new functionality for the range of users.

LID also provides Curriculum Maintenance Management (CMM) for Skills Victoria in regard to the Building and Construction, Furnishing, Water and Civil Construction industries. This service is to:• Develop and maintain Purchasing Guides for CMM area

of responsibility.• Provide operational advice to all Victorian RTO’s on

the implementation of national Training Packages and Crown copyright state curricula.

• Consult with relevant industry stakeholders to obtain and provide information regarding training and assessment at both the state and national levels.

• Provide feedback to Skills Victoria on matters impacting on training in Victoria.

Key Achievements• Timely completion of 25 Learning Resources and

accompanying assessment and marking guides for Service Skills Australia.

• Delivery of the Facilities Management Australia Facilitator Guides.

• Development and publication of Purchasing Guides for Furnishing, Civil Construction, Construction, Plumbing training packages.

• Implemented VET sector trainer and assessor currency program.


• Undertook a research based evaluation of e-learning practices at Holmesglen.

• Facilitated Teaching and Learning showcase for Institute staff that focussed on forging links in the tertiary sector.

• Completed the development of the Build Green Toolbox that involved the development of an online resource that addressed two units of competency from the Certificate IV in Building and Construction.

• Undertook the review and upgrade of content for four Toolboxes as well as the technical upgrade of learning objects to meet current requirements.

Holmesglen Employment

OverviewHolmesglen Employment undertakes project work related to the employment services industry. In particular, it is active in providing training and support services to Job Services Australia (JSA) providers and recruitment services for Holmesglen international projects.

As part of Holmesglen Employment, the Business Enterprise Unit delivers the Australian government’s New Enterprise Incentive Scheme (NEIS), a Department of Education, Employment and Workplace Relations self employment program for unemployed people who wish to start their own independent business.

In 2011 Holmesglen Employment commenced training volunteer mentors for VicRoads’ L2P program. This program trains and matches supervising drivers with disadvantaged youth and enables those without access to a car, a supervising driver, or both, to complete the 120 hours supervision required to gain a driving licence.

Key Achievements• Holmesglen Employment won tender to deliver mentor

training for VicRoads’ L2P program. • The unit commenced delivery of the Certificate IV

in Small Business for Building Trades. This course, targeted at building tradespersons wishing to commence their own business, combines units from the business and building training packages along with post course mentoring. This ensures graduates are well equipped to meet the challenges of establishing their new business.

• The unit continued to recruit and mobilise trainers for Holmesglen’s Qatar Petroleum contract.

• Holmesglen Employment, in conjunction with Faculty for Services, Environment and Lifestyle, continued its city based housekeeping program (Certificate II in Hospitality). This program was fully subscribed for the year delivering training to over 80 students with more than 80% of graduates going on to work in the industry.

• The NEIS unit had another successful year commencing over 160 students into the Certificate IV in Small Business Management. Of these, over 140 went on to commence in the NEIS program.

| Enterprise

INTEGRITYWe respect the individual and uphold

the highest ethical standards by acting

in a fair and objective manner.

Holmesglen Annual Report 2011 43| Integrity

Holmesglen Annual Report 2011 45| Integrity


KEY PERFORMANCE INDICATORS

KPI 2011 2010 2009

Strategic Alignment

Participation of 15-24 Year olds 23,172 25,991 24,817

Participation of 25-64 Year olds 29,853 33,078 31,797

Number of students within the age group

Training Outcomes

Module Load Completion RateScheduled hours assessed and passed or satisfactorily completed/totalscheduled hours reported less hours recorded with credit transfer and continuing studies outcomes. 77% 72% 76%

Student SatisfactionProportion of graduates satisfied with the overall quality of training.(Surveys completed every 2 years) 89.40%

Not available at Institute

level 87.70%

Student Contact Hours(State Government Funded Places) 6,781,547 6,780,438 6,560,587

Financial Management

Total Cost per Student Contact Hours (SCH)Total funded expenditure (excluding depreciation)/total SCH $13.18 $12.50 $12.73

Working Capital RatioCurrent assets/current liabilities (adjusted for non-current LSL) 1.03 1.06 1.44

Net Operating MarginFunded operating surplus/total revenue (excl. capital) 8.25% 10.70% 5.84%

Fee for Service RevenueFee for service revenue/total revenue 29.19% 35.30% 37.30%

Organisational Management

Revenue per EFT StaffTotal revenue (excl. capital)/average EFT staff $118,857 $111,383 $106,845

Environment

Energy ConsumptionPercentage reduction in energy consumption for electricity, gas, LPG, green power and heating oil

Refer to separate report on Environmental Performance


Student Contact Hours 12,580,522

Qualification LevelDegrees and Graduate Certificates 1,506Diplomas 8,063Certificates 31,697Year 12 573Short Courses and Other 11,186Total 53,025

Funding Source Government 22,764Domestic Fee Paying 19,962Overseas Fee Paying 10,299Total 53,025

Module Load Completion RateAll Other Fund Sources 0.80Government Funded 0.77

Student DiversityInternational 10,595Local 42,430Total 53,025

Age RangeUnder 19 years of age 9,60020 to 24 13,57225 to 34 13,20635 to 44 8,40845 and over 8,239Total 53,025

GenderFemale 21,202Male 31,823Total 53,025

Statement regarding compulsory fees, subscriptions and charges

• The Holmesglen 2011 Fees and Charges booklet was provided to each student at enrolment.

• Tuition Fees were charged according to Skill Levels from the minimum to the maximum permitted by Skills Victoria.

• A general services fee was applied to TAFE students for the provision of facilities and services of direct benefit to the student. Higher Education students were not charged a general services fee.

• A fee applied in some courses to recover the actual cost of providing materials to be retained by a student as his or her personal property.

• Students in relevant courses were tested for eligibility for a Government Supported Place. Ineligible students were offered a Full Fee Paying Place.

• Continuing students in continuing courses were treated as Fees Maintenance students.

• Students in relevant courses were offered VET FEE HELP, FEE HELP and Commonwealth Supported Places. Students were offered access to a Holmesglen Payment Plan to assist with fee payment.

• A fee concession calculation was applied to any student, enrolling in an eligible course, who demonstrated proof of eligibility.

• Eligibility Exemptions were provided to eligible students.• Fee exemptions were provided to eligible students.• Goods and Services Tax was not charged for eligible

accredited courses.• Refunds were available to students applying within the

advertised timeframe.

Details of Institute fees and charges may be obtained by writing to:The RegistrarHolmesglenPO Box 42Holmesglen VICTORIA 3148

2011 Fees and Charges

Student Data

| Integrity


Industrial RelationsNo industrial disputation was experienced in 2011.

HUMAN RESOURCES

Occupational Health and Safety Holmesglen is committed to providing a safe and healthy environment for its employees, students and visitors.

Everyone is responsible for their own safety and the safety of others.

Faculties and Departments are assisted by the Human Resources OHS Advisory team to fulfil their regulatory OHS and WorkCover obligations.

Holmesglen OHS Consultative FrameworkHolmesglen employees are represented by elected and trained Health and Safety Representatives (HSR) in designated work groups across the Institute. There are 30 HSR’s who work with their managers to identify and resolve safety issues.

The Occupational Health and Safety (OHS) Committee consists of an equal number of employer and employee

representatives. The employee representatives are elected from the pool of HSR’s. The OHS Committee meets bi-monthly to share information and to ensure any safety issues have been addressed.

All HSR’s are encouraged to attend these meetings. Minutes of the meetings are displayed on safety notice boards across the Institute as well as being available on the intranet. Safety is an agenda item at all Institute meetings.

Occupational Health Surveillance and ProgramsIn 2011 the OHS Advisory team co-ordinated and implemented health monitoring and vaccination programs. These included the regulatory health surveillance programs of audiometric and isocyanates monitoring to ensure compliance and voluntary influenza vaccinations to reduce the incidence of staff illness.

Services Provided in 2011

Influenza Vaccination (voluntary) 263

Audiometric Testing (bi-annual ) 184

Isocynate Health Surveillance (annual) 3

TrainingThe OHS Advisory team coordinated and implemented a number of staff training sessions during 2011, with over 230 staff attending. Sessions included First Aid, Emergency Warden training, Health and Safety Representative five day training, and Chemical Management training.

Six dedicated Anaphylaxis training sessions were conducted for the first time in 2011 due to an increased level of concern for students and employees. Areas such as hospitality, CATE and VCAL particularly welcomed the training.

In 2011 the Institute had 169 trained First Aiders and 214 Emergency Wardens, who provide vital support to the Institute’s emergency preparedness and response.

Individual Manual Handling and Ergonomic training was conducted by the OHS Advisory team on a as needs basis.

Below is a summary of the number of attendees for each type of training.

Training Course No of attendees

Chemical Management /Chemwatch 36

Emergency Warden 60

First Aid Cert 1 & 2 69

Anaphylaxis 59

Health and Safety Representative five day course 5

During 2011 over 350 staff received these services.


Health and Wellbeing ProgramsEmployee Health and Wellbeing was an important focus in 2011.

Information sessions were run throughout the year, with topics covering ageing, sleep difficulties, back care, specific issues associated with men’s and women’s health and skin cancer checks. These were well attended.

Occupational Health and Safety Incident Statistics

2009 2010 2011

Total Hazard / Injury reports 362 376 425

Staff Hazard/ Injury reports 133 121 116

Student Hazard/ Injury reports 222 247 297

Contractor and Visitor Hazard /Injury reports 7 8 12

WorkSafe Notifiable Incidents 11 8 7

Major Injury Categories

2009 2010 2011

Cuts with a manual tool 99 124 87

Falls/Slips/Trips 50 49 43

Manual Handling 36 14 18

Burns 24 20 30

Notifications to WorkSafe 2011Holmesglen reported seven serious incidents to WorkSafe in accordance with the OHS Act, 2004. Internal investigations were carried out to determine causes and corrective actions were instigated to prevent or reduce the risk of re-occurrence.

WorkSafe Victoria undertook six site visits, with one improvement notice issued. This was rectified within the given time frame.

WorkSafe Victoria is undertaking a project on cleaners in the health and education sectors and the campuses at Waverley, Clayton and the Rural Learning Centre received visits in relation to the project.

Workers Compensation and Injury ManagementThe OHS Advisory team reviewed a number of WorkCover procedures in line with the new compliance code issued by the Victoria WorkCover Authority. A new Return to Work policy has been developed providing greater information to both Holmesglen management and its employees regarding the process of returning an injured worker to work.

Early intervention in instigating a Return to Work plan is the key to a successful return. This benefits both the injured worker and the Institute.

The OHS Advisory team also assist in returning staff to work who have non related work illness or injuries.

2009 2010 2011

Number of WorkCover claims 19 28 27

Number of Lost Time Incidents 5 10 6

Days lost due to injury Reported injuries 36 520* 31

*Includes 2 staff members who are totally incapacitated

| Integrity


Employment and Conduct Principles

Statement on the Application of Employment and Conduct PrinciplesSection 8 of the Public Administration Act 2004 requires the Institute to establish employment processes that will ensure that:• Employment decisions are based on merit• Employees are treated fairly and reasonably• Equal employment opportunity is provided• Employees have a reasonable avenue of redress

against unfair or unreasonable treatment.

In 2011, action taken to meet these principles included the following points.

Merit in Employment• Employment decisions were based on objective

assessment of applicant’s work related qualities, abilities and potential against the genuine requirements of the position.

• Decisions to appoint new employees or promote existing employees were based on competitive selection with recruitment processes designed to identify a suitable field of qualified candidates. This included advertising vacancies to facilitate open competition and the application of objective selection criteria.

Fair and Reasonable Treatment of Staff• Decision making processes were fair, accessible and

applied consistently in comparable circumstances.• Decision making criteria were relevant, objective and

readily available to the people subject to the decision.• Decisions and actions were free of bias and unlawful

discrimination.• Documentation was clear and comprehensive enabling

decisions to be transparent and capable of effective review.• Through the Holmesglen intranet, staff diary and

induction program, employees are made aware of the Institute’s recruitment process, grievance

procedure, equal employment opportunity policy, sexual harassment policy and code of conduct.

• Specific training has been conducted to refresh the knowledge of management and staff on legislative changes in this area.

Equal Opportunity• An EEO policy statement is in place, which is widely

accessible through the intranet, staff diary and induction program and is reflected in all relevant processes.

• All employment related policies and procedures comply with applicable equal opportunity laws and support diversity across the workforce.

• Procedures are in place to notify the Chief Executive of any discrimination complaints and the findings of associated investigations.

• Data in relation to implementation of EEO is monitored and evaluated on a regular basis.

Reasonable Avenue of Redress• Employment related policies and procedures

demonstrate a commitment to address employee grievances in an effective and timely manner with the intention of resolving issues internally and informally, before applying more formal internal or external processes.

• The grievance review process and the rights and responsibilities of participants, is available to all employees through the intranet, staff diary and induction program.

• The process requires appropriate delegation and accountability to be assigned to enable grievances to be effectively considered with reviews based on consideration of relevant facts and evidence.

• The principles of natural justice and procedural fairness are required to be applied throughout a review process.

Actual Effective Full Time

Male Female Total Male Female Total

Teaching Staff 314(338)

301(321)

615(659)

292(314)

242(259)

534(573)

Non Teaching Staff 170(175)

348(358)

518(533)

164(170)

306(315)

470(485)

Total484(513)

649(679)

1133(1192)

456(484)

548(574)

1004(1058)

Workforce DataStaffing details as at 31 December 2011

2010 statistics are shown in brackets. Totals are rounded to the nearest whole number. Statistics do not include casual staff.


COMPLIANCE

Freedom of Information Act

No requests for information under the Act were received in 2011.

Requests for access to records should be directed to Ms Patricia Farnes, Freedom of Information Manager.

Applicants are required by the Act to submit applications requesting access to documents in writing. No form of application is specified. A letter which clearly describes the documents(s) sought is sufficient.

The letter should specify that the application is a request made under the Freedom of Information Act 1982 and should not form part of a letter on another subject. The applicant should provide the following information:• Name• Address• Telephone Number (where applicant can be contacted

during business hours)• Details of documents(s) requested• The form of access required, ie copies of documents,

inspection of files or specify any other format.

Whistleblowers Protection Act

The Institute has an established policy and associated procedures to ensure application of the requirements of the Whistleblowers Protection Act 2001.

The Institute’s policy includes the appointment of the Chief Executive of the Institute as the Protected Disclosure Co-ordinator whose role is to receive all correspondence, telephone calls and emails from whistleblowers. The Policy also facilitates the appointment of two Protected Disclosure Officers whose role includes being a contact point for general advice about the operation of the Act.

The Policy also advises individuals that should a person wishing to lodge a disclosure about improper conduct or detrimental action by the Institute not wish to submit a disclosure to the Institute, that person may lodge the disclosure with the Victorian Ombudsman.

There were no disclosures considered by the Institute in 2011.

Competitive Neutrality

Holmesglen continued to comply with the principles of the National Competition Policy. ‘Competitive Neutrality: A Statement of Victorian government policy’, ‘Victorian Government Timetable for the Review of Legislative Restrictions on Competition’ and any subsequent reforms. It implemented measures to ensure policy applicable to commercial activity and to pricing of bids for government funded education and training advertised for competitive tender.

The Institute fulfilled its obligations and also met its wider responsibilities to the community by required competitive neutrality being applied in the public interest.

Risk Management Certification Statement

I, Bruce Mackenzie, certify that as the 31st December 2011, Holmesglen Institute of TAFE has risk management processes in place broadly consistent with the Australian/ New Zealand Standard (or equivalent standard) and an internal control system is in place that enables the executive to understand, manage and satisfactorily control risk exposures in significant respects.

The Audit and Risk Management Committee verifies this assurance and that the risk profile of Holmesglen Institute of TAFE has been critically reviewed in the last 12 months.

Mr Bruce Mackenzie, PSM.Chief Executive

| Integrity

FINANCIAL

Holmesglen Annual Report 2011 53| Financial

Holmesglen Annual Report 2011 55| Financial


FINANCIAL STATEMENTS

HOLMESGLEN INSTITUTE OF TAFE FINANCIAL STATEMENTSComprehensive operating statement for the financial year ended 31 December 2011

Consolidated Institute

2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

Continuing operations

Income from transactions

Government contributions - operating 2(a)(i) 90,828 82,718 90,828 82,718

Government contributions - capital 2(a)(ii) 9,585 11,998 9,585 11,998

Sale of goods and services 2(b) 65,468 74,477 62,473 70,969

Interest income 2(c) 3,201 3,098 2,777 2,638

Other income 2(d) 7,449 6,525 7,350 5,848

Total income from transactions 176,531 178,816 173,013 174,171

Expenses from transactions

Employee benefits 3(a) 103,147 106,352 103,113 106,079

Depreciation and amortisation 3(b) 9,072 7,542 9,072 7,542

Other operating expenses 3(d) 49,340 43,682 46,081 43,057

Total expenses from transactions 161,559 157,576 158,266 156,678

Net result from transactions (net operating balance) 14,972 21,240 14,747 17,493

Other economic flows included in net result

Net gain/(loss) on non-financial assets 4(a) (388) 2,683 (150) (650)

Net gain/(loss) on financial instruments and statutory receivables/payables 4(b) (1,109) (2,488) (1,109) (2,488)

Total other economic flows included in net result (1,497) 195 (1,259) (3,138)

Net result from continuing operations 13,475 21,435 13,488 14,355

Net result 13,475 21,435 13,488 14,355

Other economic flows – other non-owner changes in equity

Changes in physical asset revaluation surplus 17 0 4,874 0 4,874

Financial assets available-for-sale surplus: - Gain/(loss) taken to equity 17 (2,632) (911) (2,632) (911)

Total other economic flows – other non-owner changes in equity (2,632) 3,963 (2,632) 3,963

Comprehensive result 10,843 25,398 10,856 18,318

The above comprehensive operating statement should be read in conjunction with the accompanying notes.


BALANCE SHEET

HOLMESGLEN INSTITUTE OF TAFE FINANCIAL STATEMENTSBalance Sheet as at 31 December 2011


2011 2010 2011 2010

Assets Note $’000 $’000 $’000 $’000

Financial assets

Cash and deposits 5 41,568 42,527 12,859 27,385

Receivables 6 10,582 5,650 18,283 12,103

Investments, loans and other financial assets 7 29,259 34,680 28,259 33,680

Total financial assets 81,409 82,857 59,401 73,168

Non-financial assets

Inventories 9 72 65 72 65

Property, plant and equipment 12 304,589 283,902 304,589 283,902

Biological assets 8 129 58 129 58

Investment properties 11 15,532 35,410 2,480 2,425

Non-current physical assets classified as held-for-sale 5,900 0 0 0

Other non-financial assets 10 1,039 1,031 979 953

Total non-financial assets 327,261 320,466 308,249 287,403

Total assets 408,670 403,323 367,650 360,571

Liabilities

Payables 14 23,116 29,156 19,465 23,787

Borrowings 15 16,857 16,857 0 0

Provisions 16 14,981 14,437 14,981 14,436

Total liabilities 54,954 60,450 34,446 38,223

Net assets 353,716 342,873 333,204 322,348

Equity

Accumulated surplus/(deficit) 17 113,008 99,533 92,496 79,008

Reserves 17 117,901 120,533 117,901 120,533

Contributed capital 17 122,807 122,807 122,807 122,807

Total worth 353,716 342,873 333,204 322,348

Cash flow information 19

Leased assets 20

The above balance sheet should be read in conjunction with the accompanying notes.

| Financial


EQUITY STATEMENT

HOLMESGLEN INSTITUTE OF TAFE FINANCIAL STATEMENTSStatement of changes in equity for the year ended 31 December 2011

Changes due to

Consolidated Equity at 1 January

2011

Total Comprehensive

result

Transactions with owners in their capacity

as owners

Equity at 31 December

2011

Note $’000 $’000 $’000 $’000

Accumulated surplus/(deficit) 99,533 13,475 0 113,008

Accumulated surplus/(deficit) for the Trust account 0 0 0 0

Accumulated surplus/(deficit) at the end of the year 99,533 13,475 0 113,008

Contributions by owners 0 0 0 0

Contributed capital 122,807 0 0 122,807

Contribution by owners at the end of the year 122,807 0 0 122,807

Physical assets revaluation reserve 117,310 0 0 117,310

Financial assets available-for-sale reserve 3,223 (2,632) 0 591

120,533 (2,632) 0 117,901

Total equity at the end of the year 342,873 10,843 0 353,716

Changes due to

Consolidated Equity at 1 January

2010

Total Comprehensive

result


as owners


2010

Note $’000 $’000 $’000 $’000


Adjustment due to change in accounting policy 12,140 0 0 12,140





Physical assets revaluation reserve 112,436 4,874 0 117,310

Financial assets available-for-sale reserve 4,134 (911) 0 3,223

116,570 3,963 0 120,533


The above statement of changes in equity should be read in conjunction with the accompanying notes.


EQUITY STATEMENT

HOLMESGLEN INSTITUTE OF TAFE FINANCIAL STATEMENTSStatement of changes in equity for the year ended 31 December 2011

Changes due to

Institute Equity at 1 January

2011

Total Comprehensive

result


as owners


2011

Note $’000 $’000 $’000 $’000


Adjustment due to change in accounting policy 0 0 0 0





Physical assets revaluation reserve 117,310 0 117,310

Financial assets available-for-sale reserve 3,223 (2,632) 0 591

120,533 (2,632) 0 117,901


Changes due to

Institute Equity at 1 January

2010

Total Comprehensive

result


as owners


2010

Note $’000 $’000 $’000 $’000


Adjustment due to change in accounting policy 0 0 0 0





Physical assets revaluation reserve 112,436 4,874 0 117,310

Financial assets available-for-sale reserve 4,134 (911) 0 3,223

116,570 3,963 0 120,533


The above statement of changes in equity should be read in conjunction with the accompanying notes.

| Financial


CASH FLOW STATEMENT

HOLMESGLEN INSTITUTE OF TAFE FINANCIAL STATEMENTSCash flow statement for the financial year ended 31 December 2011


2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

Cash flows from operating activities

Receipts

Government contributions - operating 2(a) 90,828 82,718 90,828 82,718

Government contributions - capital 2(a)(ii) 9,585 11,998 9,585 11,998

User fees and charges received 61,371 70,318 53,847 67,622

Goods and services tax recovered from the ATO 7,782 7,451 7,762 7,370

Interest received 3,196 3,057 2,777 2,638

Dividends received 3,394 1,698 3,394 1,698

Other receipts 4,537 5,877 6,037 5,406

Total receipts 180,693 183,117 174,230 179,450

Payments

Payments to suppliers and employees (156,992) (147,364) (155,191) (151,890)

Goods and services tax paid to the ATO (10,187) (2,893) (5,316) (2,759)

Total payments (167,179) (150,257) (160,507) (154,649)

Net cash flows from/(used in) operating activities 18 13,514 32,860 13,723 24,801

Cash flows from investing activities

Payments for investment (19,548) (26,074) (5,548) (7,830)

Proceeds from sale of investment 36,411 6,265 7,228 6,265

Payments for non-financial assets (31,785) (38,683) (30,378) (38,683)

Proceeds from sale of non-financial assets 449 475 449 475

Loans granted to other parties 0 0 0 18,737

Repayment of loans from other parties 0 0 0 (18,737)

Net cash provided by/(used in) investing activities (14,473) (58,017) (28,249) (39,773)

Cash flows from financing activities

Proceeds from borrowings 15 0 16,857 0 0

Borrowing costs 0 (78) 0 0

Interest received 0 40 0 0

Net cash provided by/(used) in financing activities 0 16,819 0 0

Net increase (decrease) in cash and cash equivalents (959) (8,338) (14,526) (14,972)

Cash and cash equivalents at the beginning of the financial year 42,527 50,087 27,385 42,357

Opening balance for Trust account 0 778 0 0

Cash and cash equivalents at the end of the financial year 5 41,568 42,527 12,859 27,385

Financing arrangements 0 0 0 0

Non cash financing and investing activities 0 0 0 0

The above cash flow statement should be read in conjunction with the accompanying notes.


FINANCIAL STATEMENT NOTES

FINANCIAL STATEMENT NOTES31 December 2011

1. Statement of significant accounting policies

The annual financial statements represent the audited general purpose financial statements for Holmesglen Institute of TAFE and controlled entity Holmesglen International Training Services Pty. Ltd., and the separate financial statements and notes of Holmesglen Institute of TAFE as an individual parent entity ('Parent Entity').

1.01 Statement of Compliance

These general purpose financial statements have been prepared in accordance with the Financial Management Act 1994 (FMA) and applicable Australian Accounting Standards (AAS) which include interpretations, issued by the Australian Accounting Standards Board (AASB). In particular, they are presented in a manner consistent with the requirements of the AASB 1049 Whole of Government and General Government Sector Financial Reporting.

Where appropriate, those AAS paragraphs applicable to not-for-profit entities have been applied.

Accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies the concepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events is reported.

1.02 Basis of accounting preparation and measurement

The accrual basis of accounting has been applied in the preparation of these financial statements whereby assets, liabilities, equity, income and expenses are recognised in the reporting period to which they relate, regardless of when cash is received or paid.

These financial statements are presented in Australian dollars, the functional and presentation currency of the Institute.

In the application of AAS, judgements, estimates and assumptions are required to be made about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on professional judgements derived from historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

The estimates and associated assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and also in future periods that are affected by the revisions. Judgements made by management in the application of AASs that have significant effects on the financial statement and estimates, with a risk of material adjustments in the next year, are disclosed throughout the notes to the financial statements.

These financial statements have been prepared in accordance with the historical cost convention. Historical cost is based on the fair values of the consideration given in exchange for assets.

Exceptions to the historical cost convention include:

• non-financial physical assets which, subsequent to acquisition, are measured at a revalued amount being their fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent impairment losses. Revaluations are made with sufficient regularity to ensure that the carrying amounts do not materially differ from their fair value;

• the fair value of an asset other than land is generally based on its depreciated replacement value;

• derivative financial instruments, managed investment schemes, certain debt securities, investment properties after initial recognition, which are measured at fair value through profit and loss;

• available-for-sale investments which are measured at fair value with movements reflected in equity until the asset is derecognised.

The accounting policies set out below have been applied in preparing the financial statements for the year ended 31 December 2011 and the comparative information presented for the year ended 31 December 2010.

The following is a summary of the material accounting policies adopted by the Institute in the preparation of the financial report. The accounting policies have been consistently applied unless otherwise stated.

1.03 Reporting entity

The financial statements cover the Holmesglen Institute of TAFE as an individual reporting entity. The Institute is a body corporate, established pursuant to an order made by the Victorian Government under the Education and Training Reform Act 2006.

Its principal address is: Holmesglen Institute of TAFE Cnr Batesford and Warrigal Roads Holmesglen VIC 3148

1.04 Basis of consolidation

The financial statements include all the activities of the Institute.

A controlled entity is any entity over which Holmesglen Institute of TAFE has the power to govern the financial and operating policies so as to obtain benefits from its activities. In assessing the power to govern, the existence and effect of holdings of actual and potential voting rights are considered.

The Holmesglen Trust has been included in the consolidated figures for the first time for the year ended 31st December 2010. Previously the Trust had not been quantitatively material, for financial reporting purposes, to the Institute.

The Holmesglen Trust was settled on 18 December, 2007 and has been registered as a "charitable trust" with the Australian Taxation Office.

The Trustee of the Holmesglen Trust ("the Trust") is Glenuc Pty Ltd, a company incorporated solely to manage the affairs of the Trust.

The Trust has been established to partner with Holmesglen Institute of TAFE in the future with regards to enhancing the student experience through providing financial support for education and research activities.

Trust Law and the laws governing charitable trusts indicate that the characteristics of a charitable trust (eg. The Holmesglen Trust include independence, public benefit and being established exclusively for charitable purposes). The classification of Holmesglen Institute of TAFE as a registered charitable institution with the Australian Taxation Office ("ATO") allows it to maintain its eligibility as a beneficiary of the Trust. Glenuc Pty Ltd makes all decisions solely in the interest of the Trust and undertakes a separate process of decision making independent from Holmesglen Institute of TAFE Board.

| Financial


The Holmesglen Board have determined that they do not legally control the Trust despite the fact that Holmesglen Institute of TAFE is the sole beneficiary (whilst it retains it charity status with the ATO) and has the power to appoint a future Trustee of the Trust. Trust law prohibits Holmesglen Institute of TAFE from appointing itself as the Trustee. Effective from October 2011 the Holmesgleb Trust will now be reffered to as the Holmesglen Foundation.

A list of controlled entities is contained in the financial statements. As at reporting date, the assets and liabilities of all controlled entities have been incorporated into the consolidated financial statements as well as their results for the year then ended. Where controlled entities have entered (left) the consolidated group during the year, their operating results have been included (excluded) from the date control was obtained (ceased).

All inter-group balances and transactions between entities in the consolidated group, including any unrealised profits or losses, have been eliminated on consolidation. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with those adopted by the parent entity.

Minority interests, being that portion of the profit or loss and net assets of subsidiaries attributable to equity interests held by persons outside the group, are shown separately within the Equity section of the consolidated Balance Sheet and in the consolidated Comprehensive Operating Statement.

Business combinations Business combinations occur where control over another

business is obtained and results in the consolidation of its assets and liabilities. All business combinations, including those involving entities under common control, are accounted for by applying the purchase method.

The purchase method requires an acquirer of the business to be identified and for the cost of the acquisition and fair values of identifiable assets, liabilities and contingent liabilities to be determined as at acquisition date, being the date that control is obtained. Cost is determined as the aggregate of fair values of assets given, equity issued and liabilities assumed in exchange for control together with costs directly attributable to the business combination. Any deferred consideration payable is discounted to present value using the entities incremental borrowing rate.

1.05 Events after reporting date

Assets, liabilities, income or expenses arise from past transactions or other past events. Where the transactions result from an agreement between the Institute and other parties, the transactions are only recognised when the agreement is irrevocable at or before balance date. Adjustments are made to amounts recognised in the financial statements for events which occur after the reporting date and before the date the statements are authorised for issue, where those events provide information about conditions which existed at the reporting date. Note disclosure is made about events between the reporting date and the date the statements are authorised for issue where the events relate to conditions which arose after the reporting date and which may have a material impact on the results of subsequent years.

1.06 Goods and Services Tax (GST)

Income, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the taxation authority. In this case it is recognised as part of the cost of acquisition of the asset or as part of the expense.

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the taxation authority is included with other receivables or payables in the balance sheet.

Cash flows are included in the cash flow statement on a gross basis. The GST component of cash flows arising from investing and financing activities which is recoverable from, or payable to, the taxation authority is classified as operating cash flows. Commitments and contingent assets or liabilities are presented on a gross basis.

1.07 Income from transactions

Amounts disclosed as income are, where applicable, net of returns, allowances and duties and taxes. Revenue is recognised for each of the Institute's major activities as follows:

Government contributions Government contributions are recognised as revenue in the

period when the Institute gains control of the contributions. Control is recognised upon receipt or notification by relevant authorities of the right to receive a contribution for the current period.

Sale of goods and services

(i) Student fees and charges Student fees and charges revenue is recognised by

reference to the percentage of services provided. Where student fees and charges revenue has been clearly received in respect of courses or programs to be delivered in the following year, any non-refundable portion of the fees is treated as revenue in the year of receipt and the balance as Revenue in Advance.

(ii) Fee for service Fee for service revenue is recognised by reference to the

percentage completion of each contract, i.e. in the reporting period in which the services are rendered. Where fee for service revenue of a reciprocal nature has been clearly received in respect of programs or services to be delivered in the following year, such amounts are disclosed as Revenue in Advance.

(iii) Revenue from sale of goods Revenue from sale of goods is recognised by the Institute when:

(a) the significant risks and rewards of ownership of the goods have transferred to the buyer;

(b) the Institute retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

(c) the amount of revenue can be reliably measured;(d) it is probable that the economic benefits associated

with the transaction will flow to the Institute and;(e) the costs incurred or to be incurred in respect of the

transaction can be measured reliably.

Interest Interest from cash, short-term deposits and investments is

brought to account on a time proportional basis taking into account interest rates applicable to the financial assets.

Net realised and unrealised gains and losses on the revaluation of investments do not form part of income from transactions, but are reported as part of income from other economic flows in the net result or as unrealised gains and losses taken direct to equity, forming part of the total change in net worth in the comprehensive result.

Other income

(i) Dividend revenue Dividend revenue is recognised when the right to receive

payment is established.

(ii) Rental income Rental income is recognised on a time proportional basis

and is brought to account when the Institute's right to receive the rental is established.


Fair value of assets and services received free of charge or for nominal consideration

Contributions of resources received free of charge or for nominal consideration are recognised at their fair value when the transferee obtains control over them, irrespective of whether restrictions or conditions are imposed over the use of the contributions. Contributions in the form of services are only recognised when a fair value can be reliably determined and the services would have been purchased if not donated.

1.08 Expenses from transactions

Employee benefits Expenses for employee benefits are recognised when

incurred, except for contributions in respect of defined benefit plans.

Retirement benefit obligations (i) Defined contribution plans Contributions to defined contribution plans are expensed

when they become payable.

(ii) Defined benefit plans The amount charged to the comprehensive operating

statement in respect of superannuation represents the contributions made by the Institute to the superannuation plan in respect of current services of current Institute staff. Superannuation contributions are made to the plans based on the relevant rules of each plan.

The Institute does not recognise any deferred liability in respect of the plan(s) because the Institute has no legal or constructive obligation to pay future benefits relating to its employees; its only obligation is to pay superannuation contributions as and when they fall due. The Department of Treasury and Finance recognises and discloses the State's defined benefit liabilities in its finance report.

Depreciation and amortisation

Depreciation Depreciation is provided on property, plant and equipment,

including freehold buildings but excluding land. Depreciation is generally calculated on a straight-line basis so as to write off the net cost or other revalued amount of each asset over its expected useful life to its estimated residual value. Leasehold improvements are depreciated over the period of the lease or estimated useful life, whichever is the shorter, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each annual reporting period.

Depreciation methods and rates used for each class of depreciable assets are: Class of Asset Method Rate/Rates Buildings Straight Line 1.41% to 20% Computers Straight Line 14.29% to 50% Motor vehicles Straight Line 8.0% to 20% Library collections Straight Line 14.28% Plant and Equipment Straight Line 1.0% to 50%

The assets' residual values and useful lives are reviewed and adjusted if appropriate on an annual basis. There has been no change in the methodology and rates for 2011.

Amortisation Intangible assets with finite lives are amortised on a straight

line basis over the assets useful lives. Amortisation begins when the asset is available for use, that is, when it is in the location and condition necessary for it to be capable of operating in the manner intended by management. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each annual reporting period. In addition, an

assessment is made at each reporting date to determine whether there are indicators that the intangible asset concerned is impaired. If so, the assets concerned are tested as to whether their carrying value exceeds their recoverable amount.

Intangible assets with indefinite lives are not amortised.

The useful life of intangible assets that are not being amortised are reviewed each period to determine whether events and circumstances continue to support an indefinite useful life assessment for that asset. In addition, the Institute tests all intangible assets with indefinite lives for impairment by comparing its recoverable amount with its carrying amount:

(a) annually; (b) whenever there is an indication that the intangible asset may be impaired.

Any excess of the carrying amount over the recoverable amount is recognised as an impairment loss.

Interest Expense Interest expense is recognised as expenses in the period

in which they are incurred. Interest expense includes interest on bank overdrafts and short term and long term borrowings, amortisation of discounts or premiums relating to borrowings, amortisation of ancillary costs incurred in connection with the arrangement of borrowings and finance lease charges.

Grants and other transfers Grants and other transfers to third parties are recognised as

an expense in the reporting period in which they are paid or payable.

Other operating expenses

Supplies and services Supplies and services expenses are recognised as an

expense in the reporting period in which they are incurred. The carrying amounts of any inventories held-for-distribution are expensed when distributed.

Fair value of assets and services provided free of charge or for nominal consideration Resources provided free of charge or for nominal consideration are recognised at their fair value.

1.09 Other economic flows included in net result

Other economic flows measure the change in volume or value of assets or liabilities that do not result from transactions.

Net gain/(loss) on non-financial assets Net gain/(loss) on non-financial assets and liabilities includes realised and unrealised gains and losses from revaluations, impairments, and disposals of all physical assets and intangible assets.

Disposal of non-financial assets Any gain or loss on disposal of non-financial assets is recognised at the date control of the asset is passed to the buyer and is determined after deducting from the proceeds the carrying value of the asset at the time.

Gain/(loss) arising from fair value changes of biological assets Biological assets are measured at fair value, and the resultant gain/(loss) is reported as an other economic flow.

Impairment of assets Goodwill and intangible assets with indefinite useful lives (and intangible assets not yet available for use) are tested annually for impairment (i.e. as to whether their carrying value exceeds their recoverable amount and so require write downs). All other assets are assessed annually for indications of impairment, except for:

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- Inventories; - Financial assets; - Investment property that is measured at fair value; - Certain biological assets related to agricultural activity; - Non current assets held for sale.

If there is an indication of impairment, the assets concerned are tested as to whether their carrying value exceeds their possible recoverable amount. Where an asset's carrying value exceeds its recoverable amount, the difference is written off by a charge to the comprehensive operating statement, except to the extent that the write down can be debited to an asset revaluation reserve amount applicable to that class of asset.

If there is an indication that there has been a change in the estimate of an asset's recoverable amount since the last impairment loss was recognised, the carrying amount shall be increased to its recoverable amount. This reversal of the impairment loss occurs only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss has been recognised in prior years. It is deemed that, in the event of the loss or destruction of an asset, the future economic benefits arising from the use of the asset will be replaced unless a specific decision to the contrary has been made. The recoverable amount for most assets is measured at the higher of depreciated replacement cost and fair value less costs to sell. Recoverable amount for assets held primarily to generate net cash flows is measured at the higher of the present value of future cash flows expected to be obtained from the asset and fair value less costs to sell. It is deemed that, in the event of the loss of an asset, the future economic benefits arising from the use of the asset will be replaced unless a specific decision to the contrary has been made. Net gain/(loss) on financial instruments Net gain/(loss) on financial instruments includes realised and unrealised gains and losses from revaluations of financial instruments that are designated at fair value through profit or loss or held-for-trading, impairment and reversal of impairment for financial instruments at amortised cost, and disposals of financial assets. Revaluations of financial instruments at fair value The revaluation gain/(loss) on financial instruments at fair value excludes dividends or interest earned on financial assets, which is reported as part of income from transactions. Impairment of financial assets Financial assets have been assessed for impairment in accordance with Australian Accounting Standards. Where a financial asset's fair value at balance date has reduced by 20% or more than its cost price, or where it's fair value has been less than its cost price for a period of 12 months or more, the financial instrument is treated as impaired. Bad and doubtful debts are assessed on a regular basis. Those bad debts considered as written off by mutual consent are classified as a transaction expense. The allowance for doubtful receivables and bad debts not written off by mutual consent are adjusted as ‘other economic flows’. Other gains/(losses) from other economic flows Other gains/(losses) from other economic flows include the gains or losses from reclassifications of amounts from reserves and/or accumulated surplus to net result, and from the revaluation of the present value of the long service leave liability due to changes in the bond interest rates.

1.10 Financial assets Cash and deposits Cash and deposits, including cash equivalents, comprise cash on hand and cash at bank, deposits at call and highly liquid investments with an original maturity of three months or less, which are held for the purpose of meeting short term cash commitments rather than for investment purposes, and which are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. For the cash flow statement presentation purposes, cash and cash equivalents includes bank overdrafts, which are included as borrowings on the balance sheet. Receivables Receivables consist of: statutory receivables, which include predominately • amounts owing from the Victorian Government and GST

input tax credits recoverable; and• contractual receivables, which include mainly debtors

in relation to goods and services, loans to third parties, accrued investment income, and finance lease receivables.

Receivables that are contractual are classified as financial instruments. Statutory receivables are not classified as financial instruments. Receivables are recognised initially at fair value and subsequently measured at amortised cost, using the effective interest rate method, less an allowance for impairment. A provision for doubtful receivables is made when there is objective evidence that the debts may not be collected and bad debts are written off when identified. Investments and other financial assets

Investments are classified in the following categories;• financial assets at fair value through profit or loss,• loans and receivables, and• available for sale financial assets.

The classification depends on the purpose for which the investments were acquired. Management determines the classification of its investments at initial recognition.

Any dividend or interest earned on the financial asset is recognised in the consolidated comprehensive operating statement as a transaction.

Derecognition of financial assets A financial asset (or, where applicable, a part of a financial

asset or part of a group of similar financial assets) is derecognised when:• the rights to receive cash flows from the asset have

expired; or• the Institute retains the right to receive cash flows from

the asset, but has assumed an obligation to pay them in full without material delay to a third party under a 'pass through' arrangement; or

• the Institute has transferred its rights to receive cash flows from the asset and either:

(a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. Where the Institute has neither transferred nor retained substantially all the risks and rewards or transferred control, the asset is recognised to the extent of the Institute's continuing involvement in the asset.


At the end of each reporting period, the Institute assesses whether there is objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes financial difficulties of the debtor, default payments, debts which are more that 60 days overdue, and changes in debtor credit ratings. All financial instrument assets, except those measured at fair value through profit and loss, are subject to annual review for impairment. Bad and doubtful debts for financial assets are assessed on a regular basis. Those bad debts considered as written off by mutual consent are classified as a transaction expense. Bad debts not written off by mutual consent and the allowance for doubtful receivables are classified as 'other economic flows' in the net result. The amount of the allowance is the difference between the financial asset's carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. In assessing impairment of statutory (non-contractual) financial assets, which are not financial instruments, professional judgement is applied in assessing materiality using estimates, averages and other computational methods in accordance with AASB 136 Impairment of Assets.

1.11 Leases A lease is a right to use an asset for an agreed period of time in exchange for payment. Leases are classified at their inception as either operating or finance leases based on the economic substance of the agreement so as to reflect the risks and rewards incidental to ownership. Leases of property, plant and equipment are classified as finance infrastructure leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership from the lessor to the lessee. All other leases are classified as operating leases. Finance leases Institute as lessor Amounts due from lessees under finance leases are recorded as receivables. Finance lease receivables are initially recorded at amounts equal to the present value of the minimum lease payments receivable plus the present value of any unguaranteed residual value expected to accrue at the end of the lease term. Finance lease receipts are apportioned between periodic interest income and reduction of the lease receivable over the term of the lease in order to reflect a constant periodic rate of return on the net investment outstanding in respect of the lease. Institute as lessee At the commencement of the lease term finances leases are initially recognised as assets and liabilities at amounts equal to the fair value of the lease property or, if lower, the present value of the minimum lease payment, each determined at the inception of the lease. The lease asset is depreciated over the shorter of the estimated useful life of the asset or the term of the lease. Operating leases Institute as lessee Operating lease payments, including any contingent rentals, are recognised as an expense in the comprehensive operating statement on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern of the benefits derived from the use of the leased asset. The leased asset is not recognised in the balance sheet. All incentives for the agreement of a new or renewed operating lease are recognised as an integral part of the net consideration agreed for the use of the leased asset, irrespective of the incentive's nature or form or timing of payments.

1.12 Non-Financial Assets Inventories Inventories include goods and other property held either for sale or for distribution at no or nominal cost in the ordinary course of business operations. It includes land held-for-sale and excludes depreciable assets. Inventories held-for-distribution are measured at cost, adjusted for any loss of service potential. All other inventories, including land held for sale, are measured at the lower of cost and net realisable value. The basis used in assessing loss of service potential for inventories held-for-distribution include current replacement cost and technical or functional obsolescence. Technical obsolescence occurs when an item still functions for some or all of the tasks it was originally acquired to do, but no longer matches existing technologies. Functional obsolescence occurs when an item no longer functions the way it did when it was first acquired. Cost is assigned to land for sale (undeveloped, under development and developed) and to other high value, low volume inventory items on a specific identification of cost basis. Cost for all other inventory is measured on the basis of weighted average cost. Inventories acquired for no cost or nominal consideration are measured at current replacement cost at the date of acquisition. Non-current physical assets classified as held-for-sale, including disposal group assets Non-current physical assets (including disposal group assets) are treated as current and classified as held for sale if their carrying amount will be recovered through a sale transaction rather than through continuing use. This condition is regarded as met only when:•the asset is available for immediate use in the current

condition; and•the sale is highly probable and the asset's sale is

expected to be completed within twelve months from the date of classification.

These non-financial physical assets, related liabilities and financial assets are measured at the lower of carrying amount and fair value less costs to sell, and are not subject to depreciation or amortisation. Property, plant and equipment All non-financial physical assets, are measured initially at cost and subsequently revalued at fair value less accumulated depreciation and impairment. The initial cost for non-financial physical assets under a finance lease is measured at amounts equal to the fair value of the leased asset or, if lower, the present value of the minimum lease payments, each determined at the inception of the lease. Where an asset is received for no or nominal consideration, the cost is the asset's fair value at the date of acquisition. Non-financial physical assets such as national parks, other Crown land and heritage assets are measured at fair value with regard to the property's highest and best use after due consideration is made for any legal or constructive restrictions imposed on the asset, public announcements or commitments made in relation to the intended use of the asset. Theoretical opportunities that may be available in relation to the asset are not taken into account until it is virtually certain that the restrictions will no longer apply.

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The fair value of cultural assets and collections, heritage assets and other non-financial physical assets that the State intends to preserve because of their unique historical, cultural or environmental attributes, is measured at the replacement cost of the asset less, where applicable, accumulated depreciation (calculated on the basis of such cost to reflect the already consumed or expired future economic benefits of the asset) and any accumulated impairment. These policies and any legislative limitations and restrictions imposed on their use and/or disposal may impact their fair value. The fair value of infrastructure systems and plant, equipment and vehicles, is normally determined by reference to the asset's depreciated replacement cost, or where the infrastructure is held by a for profit entity, the fair value may be derived from estimates of the present value of future cash flows. For plant, equipment and vehicles, existing depreciated historical cost is generally a reasonable proxy for depreciated replacement cost because of the short lives of the assets concerned. Certain assets are acquired under finance leases, which may form part of a service concession arrangement. The cost of constructed non-financial physical assets includes the cost of all materials used in construction, direct labour on the project, and an appropriate proportion of variable and fixed overheads. For the accounting policy on impairment of non-financial physical assets refer to Note on Impairment of non-financial assets. Library collections Library collections are measured at cost less accumulated depreciation. Leasehold improvements The cost of leasehold improvements is capitalised as an asset and depreciated over the remaining term of the lease or the estimated useful life of the improvements, whichever is the shorter. Restrictive nature of cultural and heritage assets, Crown land and infrastructures Certain agencies hold cultural assets, heritage assets, Crown land and infrastructure, which are deemed worthy of preservation because of the social rather than financial benefits they provide to the community. Consequently, there are certain limitations and restrictions imposed on their use and/or disposal. Revaluations of non-current physical assets Non-current physical assets measured at fair value are revalued in accordance with FRDs issued by the Minister for Finance. This revaluation process normally occurs every five years, based upon the asset’s Government Purpose Classification, but may occur more frequently if fair value assessments indicate material changes in values. Revaluation increases or decreases arise from differences between an asset’s carrying value and fair value. Revaluation increases are credited directly to equity in the revaluation reserve, except to the extent that an increase reverses a revaluation decrease in respect of that class of property, plant and equipment, previously recognised as an expense (other economic flows) in the net result, the increase is recognised as income (other economic flows) in determining the net result. Revaluation decreases are recognised immediately as expenses (other economic flows) in the net result, except to the extent that a credit balance exists in the revaluation reserve in respect of the same class of property, plant and equipment, they are debited to the revaluation reserve.

Revaluation increases and revaluation decreases relating to individual assets within a class of property, plant and equipment are offset against one another within that class but are not offset in respect of assets in different classes. Revaluation reserves are not normally transferred to accumulated funds on de-recognition of the relevant asset. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset. Biological assets Bloodstock Bloodstock is measured at fair value less estimated point of sale costs. A valuation was received from Elders Limited, Registered Office 27 Currie Street, Adelaide, SA, ABN 72 004 045 121. Investment properties Investment properties represent properties held to earn rentals or for capital appreciation or both. Investment properties exclude properties held to meet service delivery objectives of the Institute. Investment properties are initially recognised at cost. Costs incurred subsequent to initial acquisition are capitalised when it is probable that future economic benefits in excess of the originally assessed performance of the asset will flow to the Institute. Subsequent to initial recognition at cost, investment properties are re-valued to fair value with changes in the fair value recognised as income or expenses in the period in which they arise. The properties are not depreciated. Rental income from the leasing of investment properties is recognised in the comprehensive operating statement on a straight-line basis, over the lease term. Intangibles Intangible assets represent identifiable non-monetary assets without physical substance. Intangible assets are recognised at cost. Subsequently, intangible assets with finite useful lives are carried at cost less accumulated amortisation and accumulated impairment losses. Costs incurred subsequent to initial acquisition are capitalised when it is expected that additional future economic benefits will flow to the Institute.

1.13 Liabilities Payables Payables consist of:• contractual payables, such as accounts payable, and

unearned income including deferred income from concession arrangements. Accounts payable represent liabilities for goods and services provided to the Institute prior to the end of the financial year that are unpaid, and arise when the Institute becomes obliged to make future payments in respect of the purchase of those goods and services; and

• statutory payables, such as goods and services tax and fringe benefits tax payable.

• Contractual payables are classified as financial instruments and categorised as financial liabilities at amortised cost. Statutory payables are recognised and measured similarly to contractual payables, but are not classified as financial instruments and not included in the category of financial liabilities at amortised cost, because they do not arise from a contract.


Provisions Provisions are recognised when the Institute has a present obligation, the future sacrifice of economic benefits is probable, and the amount of the provision can be measured reliably. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cashflows estimated to settle the present obligation, its carrying amount is the present value of those cashflows. Employee benefits The calculation of employee benefits includes all relevant on-costs and are calculated as follows at reporting date. (i) Wages and salaries and annual leave Liabilities for wages and salaries, including non-monetary benefits and annual leave expected to be settled within 12 months of the reporting date are recognised in the provision for employee benefits in respect of employee services up to the reporting date, classified as current liabilities and measured at their nominal values. Liabilities that are not expected to be settled within 12 months of the reporting date are recognised in the provision for employee benefits as current liabilities, measured at present value of the amounts expected to be paid when the liabilities are settled using the remuneration rate expected to apply at the time of settlement. (ii) Long service leave Liability for long service leave (LSL) is recognised in the provision for employee benefits. Current Liability - unconditional LSL representing 7 years service is disclosed as a current liability even when the Institute does not expect to settle the liability within 12 months because it will not have the unconditional right to defer settlement of the entitlement should an employee take leave within 12 months. The components of this current liability are measured at :

• present value - component that is not expected to be settled within 12 months

• nominal value - component that is expected to be settled within 12 months

Non current liability - conditional LSL representing less than 7 years service is disclosed as a non-current liability. There is an unconditional right to defer settlement of the entitlement until the employee has completed the requisite years of service.

This non-current LSL liability is measured at present value. Gain or loss following revaluation of the present value of non-current LSL liability due to changes in bond interest rates is recognised as an other economic flow.

(iii) Termination benefits Termination benefits are payable when employment is

terminated before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. The Institute recognises termination benefits when it is demonstrably committed to either terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal or providing termination benefits as a result of an offer made to encourage voluntary redundancy. Benefits falling due more than 12 months after balance sheet date are discounted to present value.

Employee benefits on-costs Employee benefits on-costs (payroll tax, workers

compensation, superannuation, annual leave and long service leave accrued while on LSL taken in service) are included in the provision for employee benefits.

Performance Payments Performance payments for TAFE Executive Officers are based

on a percentage of the annual salary package provided under the contract of employment. A liability is provided for under the term of the contracts at reporting date and paid out in the next financial year.

Borrowings Borrowings are initially measured at fair value, being the cost

of the interest bearing liabilities, net of transactions costs.

Subsequent to initial recognition, borrowings are measured at amortised cost with any difference between the initial recognised amount and the redemption value being recognised in the statement of comprehensive income over the period of the borrowing using the effective interest rate method.

Financial liabilities Non-derivative financial liabilities (excluding financial

guarantees) are subsequently measured at amortised cost using the effective interest rate method.

1.14 Commitments

Commitments include those operating, capital and other outsourcing commitments arising from non-cancellable contractual or statutory sources and are disclosed at their nominal value and inclusive of the GST payable.

1.15 Contingent assets and contingent liabilities Contingent assets and contingent liabilities are not recognised in the balance sheet, but are disclosed by way of a note (refer note 21) and, if quantifiable, are measured at nominal value. Contingent assets and contingent liabilities are presented inclusive of the GST receivable or payable respectively.

1.16 Equity Contributed capital Funding that are in the nature of contributions by the State Government are treated as contributed capital when designated in accordance with UIG Interpretation 1038 Contribution by Owners Made to Wholly-Owned Public Sector Entities. Commonwealth capital funds are not affected and are treated as income.

1.17 Foreign currency translations Functional and presentation currency The functional currency of each group entity is measured using the currency of the primary economic environment in which that entity operates. The Institute's financial statements are presented in Australian dollars which is the parent entities functional and presentation currency.

Transactions and balances Foreign currency transactions are translated into functional

currency using the exchange rates prevailing at the date of the transaction. Foreign currency monetary items are translated at the year end exchange rate. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined.

Exchange differences arising on the translation of monetary items are recognised in the comprehensive operating statement in the period in which they arise, except where deferred in equity as a qualifying cash flow or net investment hedge.

Exchange difference arising on the translation of non-monetary items are recognised directly in equity to the extent that the gain or loss is directly recognised in equity, otherwise the exchange difference is recognised in the comprehensive operating statement.

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Group entities The financial results and position of foreign operations

whose functional currency is different from the group’s presentation currency are translated as follows:

- Assets and liabilities are translated at year-end exchange rates prevailing at that reporting date.

- Income and expenses are translated at average exchange rates for the period.

Exchange differences arising on translation of foreign operations are recognised as a separate component of equity. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, a proportionate share of such exchange differences are recognised in the comprehensive operating statement as part of the gain or loss on sale where applicable.

1.18 Materiality

In accordance with Accounting Standard AASB1031 'Materiality', accounting policies need only be identified in the summary of accounting policies where they are considered 'material'. Accounting policies will be considered material if their omission, mis-statement or non-disclosure has the potential, individually or collectively, to:

(a) influence the economic decisions of users taken on the basis of the financial report; and

(b) affect the discharge of accountability by the management or governing body of the entity.

1.19 Rounding of amounts

Amounts in the financial report have been rounded to the nearest thousand dollars, unless otherwise stated.

1.20 Comparative information When required by Accounting Standards, comparative figures

have been adjusted to conform to changes in presentation for the current financial year.

1.21 Change in accounting policy The Institute had no changes for the financial year ending 31

December 2011.

1.22 New accounting standards and interpretations Certain new accounting standards and interpretations have

been published that are not mandatory for the 31 December 2011 reporting period.

As at 31 December 2011, the following standards and interpretations (applicable to the Institute) had been issued but were not mandatory for financial year ending 31 December 2011. The Institute has not, and does not intend to, adopt these standards early.


HOLMESGLEN INSTITUTE OF TAFENotes to the financial statements 31 December 2011

Amending Pronouncements and Errata

Standards Affected

Outline of Amendment

Application date of standard

Impact on financial statements

AASB 9 Financial Instruments.

AASB 139 Financial Instruments: Recognition and Measurement

This standard simplifies requirements for the classification and measurement of financial assets resulting from Phase 1 of the IASB’s project to replace IAS 39 Financial Instruments: Recognition and Measurement.

Reporting periods beginning on 1 January 2013.

Detail of impact is still being assessed.

AASB 1053 Application of Tiers of Australian Accounting Standards.

This standard establishes a differential financial reporting framework consisting of two tiers of reporting requirements for preparing general purpose financial statements.

Reporting periods beginning on 1 July 2013.

The Victorian Government is currently considering the impacts of reduced disclosure requirements (RDRs) for certain public sector entities and has not decided if RDRs will be implemented in the Victorian public sector.

AASB 2009 11 Amendments to Australian Accounting Standards arising from AASB 9.

AASB 1, 3, 4, 5, 7, 101, 102, 108, 112, 118, 121, 127, 128, 131, 132, 136, 139, 1023 and 1038 and Interpretations 10 and 12.

This standard gives effect to consequential changes arising from the issuance of AASB 9.



AASB 2010 2 Amendments to Australian Accounting Standards arising from Reduced Disclosure Requirements.

These amendments introduce reduced disclosure requirements for application by certain types of entities


The amendments do not affect financial measurement or recognition and are not expected to have any impact on financial result or position.

AASB 2010 7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2010).

AASB 1, 3, 4, 5, 7, 101, 102, 108, 112, 118, 120, 121, 127, 128, 131, 132, 136, 137, 139, 1023 and 1038 and Interpretations 2, 5, 10, 12, 19 and 127.

This relates to the introduction of AASB 9 Financial instruments.



AASB 2011 2 Amendments to Australian Accounting Standards arising from the Trans Tasman Convergence Project – Reduced Disclosure Requirements .

AASB 101 and AASB 1054.

The objective of this amendment is to include some additional disclosure from the Trans Tasman Convergence Project and to reduce disclosure requirements for entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements (RDRs).


The Victorian Government is currently considering the impacts of RDRs and has not decided if they will be implemented in the Victorian public sector.

AASB 2011 3 Amendments to Australian Accounting Standards – Orderly Adoption of Changes to the ABS GFS Manual and Related Amendments.

AASB 1049 This amends AASB 1049 to clarify the definition of the ABS GFS Manual, and to facilitate the adoption of changes to the ABS GFS Manual and related disclosures.

This amendment provides clarification to users on the version of the GFS Manual to be used and what to disclose if the latest GFS Manual is not used.


There will be no impact on performance measurement.

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2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

2 Income from transactions

(a) Grants and other transfers (other than contributions by owners)

Government financial assistance

(i) Government contributions - operating

Commonwealth government recurrent specific funded programs 17 3 17 3

State government recurrent specific funded programs 78,912 75,356 78,912 75,356

Commonwealth government specific funded programs 5,287 3,648 5,287 3,648

Other contributions 9 0 9 0

Other contributions (Skills Vic) 6,603 3,711 6,603 3,711

90,828 82,718 90,828 82,718

(ii) Government contributions - capital

Commonwealth capital (funding from DEEWR) 7,250 8,810 7,250 8,810

Commonwealth capital (funding from Skills Vic) 1,525 1,119 1,525 1,119

State capital 810 2,069 810 2,069

9,585 11,998 9,585 11,998

Total government financial assistance 100,413 94,716 100,413 94,716

(b) Sales of goods and services

Student fees and charges 7,561 6,539 7,561 6,539

Rendering of services

- Fee for service - Government 2,640 4,674 2,640 3,435

- Fee for service - International operations - onshore 33,765 41,365 33,765 42,667

- Fee for service - International operations - offshore 2,129 1,302 0 0

- Fee for service - other 11,292 11,201 11,292 11,138

Total rendering of services 57,387 65,081 55,258 63,779

Other non-course fees and charges

- Other sales of goods and services 8,081 9,396 7,215 7,190

Total other fees and charges 8,081 9,396 7,215 7,190

Total revenue from sale of goods and services 65,468 74,477 62,473 70,969

(c) Interest

Interest from financial assets not at fair value through P/L:

─- Interest on bank deposits 3,201 3,098 2,777 2,638

Net interest income 3,201 3,098 2,777 2,638

(d) Other income

Rental revenue:

─- Investment properties 742 757 143 132

- Other (accommodation, room rental etc) 1,265 1,301 1,265 1,301

Total rental revenue 2,007 2,058 1,408 1,433

Dividends:

─ Other entities 3,394 1,698 3,394 1,698

Total Dividends 3,394 1,698 3,394 1,698

Donations, bequests and contributions 98 78 98 78

Other (car parking fees, management fees etc) 1,950 2,691 2,450 2,639

Total other income 7,449 6,525 7,350 5,848




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

3 Expenses from transactions

(a) Employee expenses

- Salaries, wages, overtime and allowances 88,330 90,628 88,301 90,386

- Superannuation 7,246 7,812 7,241 7,792

- Payroll tax 4,464 4,590 4,464 4,580

- Long service leave 2,447 1,960 2,447 1,960

- Annual leave 10 367 10 367

- Other salary related costs 650 995 650 994

Total employee benefits 103,147 106,352 103,113 106,079

(b) Depreciation and amortisation

Depreciation of non-current assets

- Buildings 5,297 4,439 5,297 4,439

- Plant and equipment 3,039 2,384 3,039 2,384

- Cultural assets 2 4 2 4

- Motor Vehicles 522 510 522 510

- Library collections 212 205 212 205

Total depreciation 9,072 7,542 9,072 7,542

Total depreciation and amortisation 9,072 7,542 9,072 7,542

(c) Interest Expense Costs

Interest Expense on Borrowings 1,443 0 0 0

Total Interest Expense 1,443 0 0 0

(d) Other operating expenses

Supplies and services:

- Purchase of supplies and consumables 4,858 5,188 4,854 5,148

- Communication expenses 1,047 1,171 1,043 1,167

- Utilities 2,061 1,877 2,004 1,807

- Minor equipment 4,933 4,438 4,933 4,438

- Fees and charges 8,609 8,715 6,948 7,541

- Audit fees and services 161 120 142 111

- Contract and other services 12,326 9,632 12,048 9,617

- Travel and motor vehicle expenses 2,137 1,821 1,653 1,654

- Building repairs and maintenance 3,388 2,154 3,382 2,145

- Grants and subsidies apprentices and trainees 134 133 134 133

- Marketing and promotional expenses 2,039 1,922 2,039 1,866

- Staff development 1,221 1,429 1,221 1,429

- Other 2,391 2,611 3,088 3,530

Total supplies and services 45,305 41,211 43,489 40,586

Operating lease rental expenses:

- Minimum lease payments 1,953 1,897 1,953 1,897

Total operating lease rental expenses 1,953 1,897 1,953 1,897

Subtotal 48,701 43,108 45,442 42,483

Bad debts from transactions 21 3 21 3

Cost of goods sold/distributed (ancillary trading) 618 571 618 571

Total other operating expenses 49,340 43,682 46,081 43,057

| Financial




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

4 Other economic flows included in net result

(a) Net gain/(loss) on non-financial assets

Revaluation of investment properties (747) 3,499 55 145

Revaluation of cultural assets 0 (206) 0 (206)

Net gain/(loss) on disposal of physical assets 364 (590) (200) (590)

Net FX gain/(loss) arising from non-financial assets (5) (20) (5) 1

Total net gain/(loss) on non-financial assets and liabilities (388) 2,683 (150) (650)

(b) Net gain/(loss) on financial instruments and statutory impairment of:

Net gain/(loss) on disposal of financial investments (344) 994 (344) 994

Impairment write back of financial assets at fair value (CDOs) 1,000 433 1,000 433

Impairment of financial assets at fair value (1,765) (3,915) (1,765) (3,915)

Total net gain/(loss) on financial instruments (1,109) (2,488) (1,109) (2,488)

5 Cash and deposits

Cash at bank and on hand 3,768 3,248 2,759 2,856

Australian Deposits at call 37,800 39,279 10,100 24,529

Total cash and deposits 41,568 42,527 12,859 27,385

(a) Reconciliation to cash at the end of the year

The above figures are reconciled to cash at the end of the financial year as shown in the statement of cash flows as follows:

Balances as above 41,568 42,527 12,859 27,385

Less Bank overdraft 0 0 0 0

Balance as per cashflow statement 41,568 42,527 12,859 27,385

(b) Cash at bank and on hand

These are non interest bearing.

(c) Deposits at call

The deposits are interest bearing floating rates between 5.15 % and 6.25 % (2010 5.13% and 6.30%).These deposits have an average maturity of 34 days.




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

6 Receivables

Current receivables

Contractual

- Other receivables (a) 2,350 3,476 1,591 1,462

- Other 272 135 265 121

- Revenue receivable 7,859 721 7,777 652

- Amount receivable from:

- related parties (b) 0 0 8,550 8,550

10,481 4,332 18,183 10,785

Statutory

- GST receivable from ATO 101 1,318 100 1,318

Total current receivables 10,582 5,650 18,283 12,103

(a) The average credit period on sales of goods and/or services is 30 days. (b) Loans to Holmesglen International Training Services Pty Ltd are repayable on demand. However, payment is not expected within 12 months after the reporting date.

7 Investments, loans and other financial assets

Non-current investments, loans and other financial assets

Equities and managed investment schemes:

- Australian listed equity securities 22,759 24,185 22,759 24,185

22,759 24,185 22,759 24,185

Fixed Interest bearing bills, bonds/Term Deposits 3,000 8,000 2,000 7,000

Other

Investment in Carrick Institute of Education (a) 3,500 2,495 3,500 2,495

Total non-current investments, loans and other financial assets

29,259 34,680 28,259 33,680

Total investments, loans and other financial assets 29,259 34,680 28,259 33,680

(a) The above investment loan was impaired by $3.000 million as at 31/12/10. The balance of this loan is expected to be repaid by 31/12/15.

| Financial




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

8 Biological assets

Consumable assets

Immature assets

Value of natural increases and purchases

Cattle 27 22 27 22

27 22 27 22

Mature assets

Biologically transformed and marketable assets

- Cattle 102 36 102 36

102 36 102 36

Total consumable assets 129 58 129 58

Quantities Qty Qty Qty Qty

- Cattle 131 89 131 89

Total quantity of consumable assets 131 89 131 89

Output No. No. No. No.

Natural increase

- Cattle 37 34 37 34

Total quantity of output 37 34 37 34

Bearer assets

Mature assets

- Angus bull 4 4 4 4

Total bearer assets 4 4 4 4

Quantities Qty Qty Qty Qty

- Angus bull 1 1 1 1

Total quantities 1 1 1 1

Biological assets $’000 $’000 $’000 $’000

Reconciliation of changes in carrying amount of biological assets

Carrying amount at 1 January 58 76 58 76

Increases due to:

- Purchases 44 0 44 0

- Births 27 22 27 22

Decreases attributable to:

- Sales 0 (40) 0 (40)

- Deaths 0 0 0 0

Other 0 0 0 0

Carrying amount at 31 December 129 58 129 58




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

9 Inventories

Current

Supplies and consumables - at cost 72 65 72 65

Total current inventories 72 65 72 65

10 Other assets

Current other assets

Prepayments 1,039 1,031 979 953

Total current other assets 1,039 1,031 979 953

Total other assets 1,039 1,031 979 953

11 Investment properties

At Fair value

Opening balance at 1 January 29,510 2,280 2,425 2,280

Opening balance for Trust account 0 29,631 0 0

Disposals and property held for sale (14,040) 0 0 0

Net gain/(loss) from fair value adjustments 62 3,499 55 145

Closing balance at 31 December 15,532 35,410 2,480 2,425

11(a) Non-current physical assets classified as held-for-sale

Land and Buildings 5,900 0 0 0

Closing balance at 31 December 5,900 0 0 0

11(b) Amounts recognised in profit and loss for investment properties

Rental income 742 757 143 132

Total recognised in profit and loss 742 757 143 132

11(c) The Institute Investment properties were revalued by C.B. Cunningham, AAPi AREi at fair value as of 31 December 2011. This resulted in an increment in land of $30,000 and buildings of $25,000.

| Financial



12 Property, plant and equipment

Land

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Co

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ion

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ess

Pla

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quip

me

nt

Cu

ltu

ral

Ass

ets

Mo

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Vehi

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Libr

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Co

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Equ

ipm

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Tota

l

Consolidated $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

At 1 January 2010

- Cost 1,108 7,756 6,336 0 0 2,672 3,351 8,160 29,383

- Valuation 44,960 186,506 0 14,045 346 0 0 0 245,857

Accumulated depreciation 0 (8,278) 0 (7,616) (11) (848) (2,736) (6,614) (26,103)

Net book amount 46,068 185,984 6,336 6,429 335 1,824 615 1,546 249,137

Year ended 31 December 2010

Opening net book amount 46,068 185,984 6,336 6,429 335 1,824 615 1,546 249,137

Additions 2,702 6,127 26,901 1,027 37 788 208 5,201 42,991

Disposals 0 (579) 0 (94) 0 (316) 0 (76) (1,065)

Net revaluation increments/decrements 4,874 0 0 0 (206) 0 0 0 4,668

Transfer to assets classified as held for sale 0 0 0 0 0 0 0 0 0

Impairment loss charged to net result 0 0 0 0 0 0 0 0 0

Depreciation expense 0 (4,439) 0 (1,411) (4) (510) (205) (973) (7,542)

Transfers 0 0 (4,287) 0 0 0 0 0 (4,287)

Closing net book amount 53,644 187,093 28,950 5,951 162 1,786 618 5,698 283,902

At 31 December 2010

- Cost 3,810 10,343 28,950 0 0 2,854 3,241 13,221 62,419

- Valuation 49,834 189,396 0 14,626 162 0 0 0 254,018

Accumulated depreciation 0 (12,646) 0 (8,675) 0 (1,068) (2,623) (7,523) (32,535)

Net book amount 53,644 187,093 28,950 5,951 162 1,786 618 5,698 283,902

Year ended 31 December 2011

Opening net book amount 53,644 187,093 28,950 5,951 162 1,786 618 5,698 283,902

Additions 0 36,452 17,435 1,124 51 667 282 1,050 57,061

Disposals 0 (255) 0 (1) 0 (392) 0 0 (648)

Net revaluation increments/decrements 0 0 0 0 0 0 0 0 0

Transfer to assets classified as held for sale 0 0 0 0 0 0 0 0 0

Impairment loss charged to net result 0 0 0 0 0 0 0 0 0

Depreciation expense 0 (5,297) 0 (1,470) (2) (522) (212) (1,569) (9,072)

Transfer from WIP 0 0 (26,654) 0 0 0 0 0 (26,654)

Closing net book amount 53,644 217,993 19,731 5,604 211 1,539 688 5,179 304,589

At 31 December 2011

- Cost 3,810 46,298 19,731 0 51 2,771 3,290 14,254 90,205

- Valuation 49,834 189,589 0 15,425 162 0 0 0 255,010

Accumulated depreciation 0 (17,894) 0 (9,821) (2) (1,232) (2,602) (9,075) (40,626)

Net book amount 53,644 217,993 19,731 5,604 211 1,539 688 5,179 304,589

Footnote1 The useful lives of assets as stated in Note 1 are used in the calculation of depreciation as shown in note 4.

Notes1 Property, plant & equipment includes all operational assets.2 Other property, plant & equipment includes non-operational assets such as artworks.




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

13 Intangible assets

There were no intangible assets (2010 Nil)

14 Payables

Current

Contractual

- Supplies and services 11,895 16,325 8,255 11,050

- Revenue in advance 11,210 12,737 11,210 12,737

Statutory

- GST payable to the ATO 11 94 0 0

Total current payables 23,116 29,156 19,465 23,787

15 Borrowings

Non Current

- Bank Loan 16,857 16,857 0 0

Total non current secured financial liability 16,857 16,857 0 0

16 Provisions

Current provisions expected to be settled within 12 months

Employee benefits

- Annual leave 2,541 2,531 2,541 2,531

- Long service leave 712 585 712 585

Workcover provision 0 1 0 0

Subtotal 3,253 3,117 3,253 3,116

Current provisions expected to be settled after 12 months

Employee benefits


Subtotal 10,293 10,227 10,293 10,227

Total current provisions 13,546 13,344 13,546 13,343

Non-current

Employee benefits:


Total non-current provisions 1,435 1,093 1,435 1,093

Total provisions 14,981 14,437 14,981 14,436

| Financial




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

17 Equity

(a) Contributed Capital

Balance at 1 January 122,807 122,807 122,807 122,807

Capital contributions 0 0 0 0

Balance at 31 December 122,807 122,807 122,807 122,807

(b) Reserves

Composition of Reserves

Physical asset revaluation surplus

- Land 34,918 34,918 34,918 34,918

- Buildings 82,392 82,392 82,392 82,392

Available for sale revaluation surplus* 591 3,223 591 3,223

117,901 120,533 117,901 120,533

Movements in Equity

Asset Revaluation Reserve

Land


Revaluation increment on non-current assets 0 4,874 0 4,874

Disposal 0 0 0 0


Asset Revaluation Reserve

Buildings


Disposal 0 0 0 0


Available for sale revaluation reserve*


Adjustments on adoption of new accounting policy 0 0 0 0

Balance at beginning of financial year 3,223 4,134 3,223 4,134

Valuation gain/(loss) recognised (2,632) (911) (2,632) (911)

Cumulative (gain)/loss transferred to the net result on sale of financial assets

0 0 0 0

Cumulative (gain)/loss transferred to the net result on impairment of financial assets

0 0 0 0

Other 0 0 0 0

Balance at 31 December 591 3,223 591 3,223

(c) Accumulated surplus/(deficit)


Opening balance of Trust account 0 12,140 0 0

Net operating result for the year 13,475 21,435 13,488 14,355


Total equity 353,716 342,873 333,204 322,348

* The available for sale revaluation reserve arises on the revaluation of available for sale financial assets. Where a revalued financial asset is sold that portion of the reserve which relates to that financial asset, and is effectively realised, is recognised in profit and loss. Where a revalued financial asset is impaired that portion of the reserve which relates to that financial asset is recognised in profit and loss.




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

18 Cash flow information

(a) Reconciliation of operating result after income tax to net cash flows from operating activities

Net result for the year 13,475 21,435 13,488 14,355

Non-cash flows in operating result

Depreciation and amortisation of non-current assets 9,090 7,542 9,072 7,542

Net (gain)/loss on sale of non-current assets (364) 590 200 590

Net (gain)/loss on disposal of financial investments 344 (1,428) 344 (1,428)

Fair value gains on other financial assets at fair value through profit or loss 747 (3,293) (55) 61

Donations of fixed assets - library (30) (21) (30) (21)

Impairment of non-current assets 765 3,915 765 3,915

Total non-cash flows in operating result 10,552 7,305 10,296 10,659

Movements in operating assets and liabilities

Decrease/(increase) in trade receivables (4,932) 314 (6,180) 1,264

Decrease/(increase) in inventories (78) 9 (78) 9

Decrease/(increase) in other assets (8) (64) (26) 14

Increase/(decrease) in payables (6,040) 3,042 (4,322) (2,318)

Increase/(decrease) in employee benefits 545 819 545 818

Total movement in operating assets and liabilities (10,513) 4,120 (10,061) (213)

Net cash flows provided from operating activities 13,514 32,860 13,723 24,801

19 Commitments for expenditure

(a) Capital commitments

Capital expenditure contracted for at the reporting date but not recognised as liabilities is as follows:

Property, Plant and Equipment

Payable:

- Within one year 7,566 20,362 7,566 20,362

- Later than one year but not later than five years 0 1,502 0 1,502

Total Capital Expenditure Commitments 7,566 21,864 7,566 21,864

(b) Operating Lease commitments

Commitments in relation to leases contracted for at the reporting date but not recognised as liabilities, payable:

- Within one year 1,632 1,021 1,632 1,021

- Later than one year but not later than five years 6,313 1,401 6,313 1,401

Total operating lease liabilities 7,945 2,422 7,945 2,422

(c) Remuneration commitments

Commitments for the payment of salaries and other remuneration under long-term employment contracts in existence at the reporting date but not recognised as liabilities, payable;

- Within one year 3,298 3,271 3,298 3,271

- Later than one year but not later than five years 5,078 5,677 5,078 5,677

8,376 8,948 8,376 8,948

| Financial




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

20 Leased assets

As at the reporting date the Institute leased out the following assets:

Institute owned properties 2,480 2,425 2,480 2,425

Gross amount of leased assets 2,480 2,425 2,480 2,425

Operating lease receivables

Payments due

- Within one year 113 123 113 123

- Later than one year but not later than five years 42 127 42 127

Net operating lease receivables 155 250 155 250

The Institute leases out certain land, buildings and equipment, which are excess to current requirements, at current market rates.

21 Contingent assets and contingent liabilities

There were no Contingent Assets or Liabilities as at 31 December 2011. (Nil 2010)

22 Economic dependency

Government Contributions - operating 90,828 82,718 90,828 82,718

Government Contributions - capital 9,585 11,998 9,585 11,998

100,413 94,716 100,413 94,716

In 2011, the Holmesglen Institute of Tafe was dependent on 52.5% of Government Contributions - Operating compared to 47.5% in 2010.

23 Subsequent events

No matters or circumstances have arisen since the end of the reporting period which significantly affect the operations of the Institute, the results of those operations, or the state of affairs of the Institute in future financial years.

24 Remuneration of auditors

Remuneration of Victorian Auditor General’s Office for:

- Audit of the financial statements 43 50 43 42

- Audit of the financial statements of subsidiary 9 0 0 0

Total remuneration of Victorian Auditor General’s Office 52 50 43 42

Remuneration of other auditors :

- Other Assurance Services 109 70 99 69

Total remuneration of other auditors 109 70 99 69

Total Remuneration of Auditors 161 120 142 111




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

25 Superannuation

Employees of the Institute are entitled to receive superannuation benefits and the Institute contributes to both defined benefit and defined contribution plans. The defined benefit plan(s) provides benefits based on years of service and final average salary. The Institute does not recognise any defined benefit liability in respect of the plan(s) because the entity has no legal or constructive obligation to pay future benefits relating to its employees; its only obligation is to pay superannuation contributions as they fall due. The Department of Treasury and Finance recognises and discloses the State’s defined benefit liabilities in its financial statements. However, superannuation contributions paid or payable for the reporting period are included as part of employee benefits in the Comprehensive Operating Statement of the Institute.

The name and details of the major employee superannuation funds and contributions made by the Institute are as follows:

Paid Contribution for the Year

Defined benefit plans:

State Superannuation Fund – revised and new 993 1,098 993 1,098

State Emergency Services & State Super 0 9 0 9

Defined contribution plans:

VicSuper 4,742 5,013 4,742 5,013

Other 1,650 1,458 1,650 1,458

Total 7,385 7,578 7,385 7,578

Contribution Outstanding at Year End

Various Funds 504 749 504 749

Total 504 749 504 749

(a) The bases for contributions are determined by the various schemes.

| Financial




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

26 Key management personnel disclosures

Responsible persons related disclosures

In accordance with the directions of the Minister for Finance under the Financial Management Act 1994, the following disclosures are made for the responsible Ministers and responsible Members of the Board.

(i) Minister

The relevant Minister is The Hon Peter Hall MP, Minister for Higher Education and Skills. Remuneration of the Ministers is disclosed in the financial report of the Department of Premier and Cabinet. Other relevant interests are declared in the Register of Members interests which is completed by each member of the Parliament.

(ii) Members of the Board of Holmesglen Institute of TAFE Board

J. Forster (President )The Hon. H. Storey QC (Retired March 2011)A. Shears-Carter OAM (Vice President)B. Mackenzie PSM (Chief Executive)P. PickingB. WatersR. LeemingC. Walsh

L. DewarL. HillJ. DixonP. RussellN. Lucas PSM JPEmeritus Professor P. Darvall AOR. Wall (Student Representative)M. Leopold (Staff Representative)

(iii) Executive Officers

M. Faraone - Executive Director (Educational Development and Design)

E. Spangher - Corporate Services Manager

B. Prescott - Executive Director (Operations)

F. Virik - Executive Director (Information Services and Campus Manager Moorabbin)

D. Endean - Executive Director (International Programs and Projects)

All of the above persons were also key management persons during the year ended 31 December 2011

Remuneration of responsible personsRemuneration received, or due and receivable from the Institute in connection with the management of the Institute. Includes termination payments and bonuses paid at end of contracts.

409 429 409 429

Income range Number Number Number Number

The number of Responsible Persons whose remunerationfrom the Institute was within the specified bands are as follows:

Less than 10,000 14 13 14 13

20,001 - 30,000 - - - -

98,001 - 100,000 1 1 1 1

260,001 - 270,000 1 - 1 -

280,001 - 290,000 - 1 - 1

16 15 16 15

Retirement benefits of responsible persons

There were no retirement benefits paid by the Institute in connection with the retirement of Responsible Persons of the Institute.




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

Executive Officers’ Remuneration

The number of executive officers, other than Responsible Persons included under “Remuneration of Responsible Persons” above whose total remuneration exceeded $100,000 during the financial year are shown in their relevant income bands. The base remuneration is exclusive of bonus payments, long service leave payments, redundancy payments and retirement benefits.

Base remuneration of executive officers 2,621 2,463 2,621 2,463

Total remuneration of executive officers 2,621 2,466 2,621 2,466

Income range No No No No

The number of executive officers whose total remunerationfrom the Institute was within the specified bands are as follows:

120,001 - 130,000 - - - -

130,001 - 140,000 2 - 2 -

140,001 - 150,000 2 2 2 2

150,001 - 160,000 8 7 8 7

160,001 - 170,000 - 1 - 1

170,001 - 180,000 - - - -

180,001 - 190,000 - 3 - 3

190,001 - 200,000 2 1 2 1

200,001 - 210,000 2 1 2 1

16 15 16 15

Key management personnel compensation

Short-term employee benefits 409 429 409 429

Post-employment benefits - - - -

Other long-term benefits 362 339 362 339

Termination benefits - - - -

Share-based payments - - - -

771 768 771 768

Loans to key management personnel

There were no loans in existence at reporting date.

| Financial




2011 2010 2011 2010

Note $’000 $’000 $’000 $’000

27 Related parties

Key management personnel

Disclosures relating to directors and specified executives are set out in note 26.

Loans to/from related parties

Loans to subsidiaries

- Beginning of the year 0 0 8,550 8,550

- Loans advanced 0 0 0 0

End of year 0 0 8,550 8,550

Loans to other related parties

- Loans advanced 0 0 0 18,737

- Loans repaid 0 0 0 (18,737)

End of year 0 0 0 0

No provisions for doubtful debts have been raised in relation to any outstanding balances, and no expense has been recognised in respect of bad or doubtful debts due from related parties.

Other transactions

Other related transactions and loans requiring disclosure under the Directions of the Minister for Finance have been considered and there are no matters to report.

28 Subsidiaries and other related parties

The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries and other related parties in accordance with the accounting policy described in note 1.04.

Class of shares

Country of incorporation

Equity holding

Equity holding

2011 2011 2010

Name of entity % %

Holmesglen International Training Services Pty Ltd. Ordinary Australia 100 100

Holmesglen Trust

29 Institute details

The registered office of the Institute is:

Holmesglen Institute of TAFE

The principle place of business is:

Cnr Batesford and Warrigal RoadsHolmesglen, Victoria, 3148.



30 Financial instruments

Financial risk management

(i) Financial risk management objectives

The Institute’s activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and price risk), credit risk and liquidity risk. The Institute’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Institute. The Institute uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis in the case of interest rate, foreign exchange and other price risks, ageing analysis for credit risk and beta analysis in respect of investment portfolios to determine market risk.

Risk management is carried out by a central treasury unit with the Finance function of the Institute under policies approved by the Board. The Treasury Unit identifies, evaluates and hedges financial risks in close co-operation with the Group’s operating units. The Board provides written principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.

Details of the significant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument is disclosed in note 1 of the financial statements.

(ii) Financial risk exposures and management

The Institute’s financial instruments consist mainly of deposits with banks, local money market instruments, short term investments, accounts receivables and payables and leases.

The main risks the Institute is exposed to through its financial instruments are market risk, foreign currency risk, price risk, funding risk, interest rate risk, credit risk and liquidity risk.

Market risk

The Institute in its daily operations is exposed to a number of market risks. Market risks relate to the risk that market rates and prices will change and that this will have an adverse affect on the operating result and/or net worth of the Institute e.g. an adverse movement in interest rates or foreign currency exchange rates.

The Board ensures that all market risk exposure is consistent with the Institute’s business strategy and within the risk tolerance of the Institute. Regular risk reports are presented to the Board.

There has been no significant change in the Institute’s exposure, or its objectives, policies and processes for managing market risk or the methods used to measure this risk from the previous reporting period.

Foreign currency risk

There has been no significant change in the Institute’s exposure, or its objectives, policies and processes for managing foreign currency risk or the methods used to measure this risk from the previous reporting period. As at 31 December 2011 the Institute held US $232,587 on behalf of Holmesglen International Training Services Pty Ltd.

Price risk

The Institute is exposed to price risk in respect of fee for service and contract services which are subject to open market competition.

There has been no significant change in the Institute’s exposure, or its objectives, policies and processes for managing price risk or the methods used to measure this risk from the previous reporting period.

Interest rate risk

Interest rate risk arises from the potential for a change in interest rates to change the expected net interest earnings in the current reporting period and in future years. Similarly, interest rate risk also arises from the potential for a change in interest rates to cause a fluctuation in the fair value of the financial instruments.

The objective is to manage the rate risk to achieve stable and sustainable net interest earnings in the long term. This is managed predominately through a mixture of short term and longer term investments. Interest rate movements have not been sufficiently significant during the year to have an impact on the Institute’s year end result.

The Institute’s exposure to interest rate risks and the effective interest rates of financial assets and financial liabilities, both recognised and unrecognised at balance date are set out in the financial instrument composition and maturity analysis table.

Funding risk

Funding risk is the risk of over reliance on a funding source to the extent that a change in that funding source could impact on the operating result for the current year and future years.

The Institute manages funding risk by continuing to diversify and increase funding from Commercial activities, both domestically and off shore.

There has been no significant change in the Institute’s exposure, or its objectives, policies and processes for managing funding risk or the methods used to measure this risk from the previous reporting period.

| Financial


Concentrations of credit risk

The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets, is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the balance sheet and notes to the financial statements.

There are no material amounts of collateral held as security at 31 December 2011.

The Institute minimises concentrations of credit risk in relation to trade accounts receivable by undertaking transactions with a large number of customers. The majority of customers are concentrated in Australia. The major customers relate to the provision of Vocational Education and Training services to industry and the community. The Institute continues to provide ongoing training, consultancy and other services for these customers who adhere to industry trade terms.

Credit risk in trade receivables is managed in the following ways:

- payment terms are 7 days from date of invoice. - debtors with accounts in excess of 30 days are sent a statement of account indicating terms of 7 days to make payment.

- debtors with arrears are sent a reminder notice indicating a further 7 days to make payment before reference of their debt to a debt collection agency.

- debtors which represent government departments or agencies are not referred to a debt collection agency, but managed by the Institute directly with department or agency contacts.

The Institute minimises credit risk in relation to student loans receivable in the following ways:

- funds are drawn directly from the students bank account or credit card account on the due date. If payments fail their enrolment is suspended.

There has been no significant change in the Institute’s exposure, or its objectives, policies and processes for managing credit risk or the methods used to measure this risk from the previous reporting period.

Liquidity risk

Ultimate responsibility for liquidity risk management rests with the Institute’s governing body, which has built an appropriate liquidity risk management framework for the management of the short, medium and long-term funding and liquidity requirements. The Institute manages liquidity risk by maintaining adequate reserves and banking facilities by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.

There has been no significant change in the Institute’s exposure, or its objectives, policies and processes for managing liquidity risk or the methods used to measure this risk from the previous reporting period.


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| Financial




(IV) Financial instrument composition and maturity analysis

The tables below reflect the undiscounted contractual settlement terms for financial instruments of a fixed period of maturity, as well as management’s expectations of the settlement period for all other financial instruments. As such, the amounts may not reconcile to the balance sheet.

FINANCIAL INSTRUMENTSWeighted average

effective rate

Total Carrying

Amount per Balance

Sheet

Consolidated 2011 Floating interest

rateWithin 1

year 1-5 yearsMore than

5 years

Non Interest Bearing

$’000 $’000 $’000 $’000 $’000 $’000

Financial assets

Cash and cash equivalents 4.69% 24 24

- Cash at bank 4.69% 3,744 3,744

- Deposits at call 5.86% 37,800 37,800

Receivables-debtors 2,350 2,350

Receivables-other debtors 8,232 8,232

Receivables-loans to related parties

Receivables-loans to other parties

Other financial assets:

Long term deposits 4.71% 3,000 3,000

Various shares 22,759 22,759


Financial liabilities

Trade and other payables 11,906 11,906

Borrowings 16,857 16,857

Total financial liabilities 28,763 28,763

FINANCIAL INSTRUMENTSWeighted average

effective rate

Total Carrying

Amount per Balance

Sheet

Consolidated 2010 Floating interest

rateWithin 1

year 1-5 yearsMore than

5 years

Non Interest Bearing

$’000 $’000 $’000 $’000 $’000 $’000

Financial assets

Cash and cash equivalents 4.35% 25 25

-Cash at bank 4.35% 3,223 3,223

-Deposits at call 5.74% 39,279 39,279

Receivables-debtors 3,476 3,476

Receivables-other debtors 2,174 2,174

Receivables-loans to related parties

Receivables-loans to other parties


Long term deposits 4.69% 8,000 8,000

Various shares 24,185 24,185



Trade and other payables 16,419 16,419

Borrowings 16,857 16,857

Total financial liabilities 33,276 33,276




(v) Fair value estimation

The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes. The fair value of financial instruments traded in active markets is based on quoted market prices at the balance sheet date. The quoted market price used for financial assets held by the Institute is the current bid price. The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Institute uses a variety of methods and makes assumptions that are based on market conditions existing at each balance date. Quoted market prices or dealer quotes for similar instruments are used for long-term debt instruments held. Due to the short-term nature of the current receivables, their carrying value is assumed to approximate their fair value and based on credit history it is expected that the receivables that are neither past due nor impaired will be received when due. For other assets and other liabilities the fair value approximates their carrying value. Financial assets where the carrying amount exceeds fair values have not been written down as the Institute intends to hold these assets to maturity. The carrying amounts and aggregate net fair values of financial assets and liabilities at balance date are:

2011 2010

Consolidated Carrying Amount

Net Fair Value

Carrying Amount

Net Fair Value

$’000 $’000 $’000 $’000

Financial assets

Cash and cash equivalents - Cash at Bank 3,768 3,768 3,248 3,248

Cash and cash equivalents - Deposits at Call 37,800 37,800 39,279 39,279

Receivables 10,582 10,582 5,650 5,650


- Various Shares 22,759 22,759 24,185 24,185

- Long Term Deposits 3,000 3,000 8,000 8,000



Payables 11,906 11,906 16,419 16,419

Borrowings 16,857 16,857 16,857 16,857

Total financial liabilities 28,763 28,763 33,276 33,276

2011 2010

Institute Carrying Amount

Net Fair Value

Carrying Amount

Net Fair Value

$’000 $’000 $’000 $’000

Financial assets

Cash and cash equivalents Cash at Bank 2,759 2,759 2,856 2,856

Cash and cash equivalents - Deposits at Call 10,100 10,100 24,529 24,529

Receivables 18,283 18,283 12,103 12,103


- Various Shares 22,759 22,759 24,185 24,185

- Long Term Deposits 2,000 2,000 7,000 7,000



Payables 8,255 8,255 11,050 11,050

Total financial liabilities 8,255 8,255 11,050 11,050

| Financial




(vi) Terms, conditions and accounting policies

The Institute’s accounting policies, including the terms and conditions of each class of financial asset, financial liability and equity instrument, both recognised and unrecognised at reporting date, are as follows:

Recognised financial instruments

Note Accounting policies Terms and conditions

FINANCIAL ASSETS

Cash and cash equivalents - cash at bank and on hand

5Cash at bank is carried at the nominal amount.

Cash is invested as funds permit at varying interest rates between 5.15% and 6.25% (2010 5.13% and 6.30%).

Cash and cash equivalents - deposits at call

5

Deposits at call are carried at their nominal amounts. Interest revenue is recognised in the operating statement when it is earned.

Deposits at call have an average maturity of 34 days and effective interest rates of 5.15% and 6.25% (2010 5.13% and 6.30%).

Receivables - debtors

6

Trade debtors are carried at amortised cost less any allowance for doubtful debts. An allowance for doubtful debts is maintained to recognise that collection of the full nominal amount is no longer probable.

Credit sales are on 7 day terms.

Receivables - other debtors

6

Other debtors are carried at amortised cost less any allowance for doubtful debts. An allowance for doubtful debts is maintained to recognise that collection of the full nominal amount is no longer probable.

Credit is allowed for a 30 day term.

Receivables - loans to related parties 6

Loans to related parties are stated at amortised cost using the effective interest rate method.

Loans are provided to related parties and are repayable on demand.

Other financial assets: long term deposits

7

Long term deposits are stated at their amortised cost or fair value depending on their classification on initial recognition. Interest revenue is recognised in the operating statement when it is earned.

Long term deposits are invested for a period of 5 years. Interest is based on the 90 day bank bill plus a premium of between .03% and 1.9%.

Other financial assets: assets available for sale

7

Available for sale financial assets are re-flected at fair value. Unrealised gains and losses arising from changes in fair value are taken directly to equity.

Other financial assets are purchased with the approval of the Institute Investment Committee.

FINANCIAL LIABILITIES

Payables creditors and accruals

14 Liabilities are recognised for amounts to be paid in the future for goods and services received, whether or not invoiced to the Institute.

Trade liabilities are settled as required.

Borrowings: bank overdraft

Bank overdrafts are carried at amortised cost. Bank interest is charged as an expense as it accrues. Details of credit standby arrangements are: Nil.

Interest is charged at the bank’s ruling overdraft rate. Floating rates of 10.99% to 11.24% were charged during the year (2010 9.99% to 10.49%). The amount of unused credit is Nil.


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| Financial


DISCLOSURE INDEX

Note Contents of the notes to the financial statements Page

1 Statement of significant accounting policies 61 - 69

2 Income from transactions 70

3 Expenses from transactions 71

4 Other economic flows included in net result 72

5 Cash and deposits 72

6 Receivables 73

7 Investments, loans and other financial assets 73

8 Biological assets 74

9 Inventories 75

10 Other assets 75

11 Investment properties 75

12 Property, plant and equipment 76

13 Intangible assets 77

14 Payables 77

15 Borrowings 77

16 Provisions 77

17 Equity 78

18 Cash flow information 79

19 Commitments 79

20 Leased assets 80

21 Contingent assets and liabilities 80

22 Economy dependency 80

23 Subsequent events 80

24 Remuneration of auditors 80

25 Superannuation 81

26 Key management personnel disclosures 82 - 83

27 Related parties 84

28 Subsidiaries 84

29 Institute details 84

30 Financial instruments 85 - 86

31 Glossary of terms 96


Source reference

Reporting Requirement

Indicate the relevant page(s)

(A) Report 0f Operations

[1] SD 4.2(g)FRD 22

Qualitative and quantitative information 8 - 9

[2] SD 4.2(h)FRD 22

Prepared in accordance with the requirements of the financial reporting directions. 55

[3] SD 4.5.5 Risk management standard. 51

[4] SD 4.2(j)FRD 22

Signature of responsible person. 3, 9

Standard Disclosures in The Report Of Operations General Information

[5] FRD 22 Manner of establishment and responsible Minister. 2, 82

[6] FRD 22 Institutes objectives, functions, powers, summary of activities, programs and achievements

3, 4, 5, 8, 9

[7] FRD 22 Nature and range of service provision 8, 17, 23 - 30

[8] FRD 22 Organisational chart/s 6 - 7

Governance Recommendations of the TAFE Governance Review, May 2003

[9] TAFE Gov.Review

Outline of the structure of the board including committees. 4 - 5

[10] TAFE Gov.Review

Summary of meetings attended by board members. 5


Summary of training of board members 4


Board values and code of conduct 4

[13] FRD 22 Statement of workforce data 50

[14] FRD 22 Statement on the application of employment and conduct principles. 50

[15] FRD 22 Statement on occupational health and safety 48, 49

[16] FRD 22 A general statement on industrial relations 50

Disclosure Index

[17] FRD 10 Victorian legislation with statutory disclosure requirements. 93 - 95

[18] FRD 10 A short description of the relevant requirement. 95 - 97

[19] FRD 10 Relevant index pages 95 - 97

Disclosures Disclosure of ex-gratia payments

[20] FRD 11 Ex gratia payments -

Disclosures of responsible persons

[21] FRD 21A (1) (a)

The name of responsible persons 82

Disclosures of remuneration of executive officers

[22] FRD 21A (1) (b)

Total remuneration of all responsible persons 83

[23] FRD 21A (1) (c)

An analysis of remuneration of responsible persons in bands of $10,000 82 - 83

[24] FRD 21A (1) (d)

A table disclosing the aggregate amount of related party transactions 84


Source reference

REPORTING REQUIREMENT Indicate the relevant page(s)

[25] FRD 21(2) (a)Total remuneration of all executive officers 83

[26] FRD 21 (2) (b)

Base remuneration disclosed separately from actual remuneration 83

[27] FRD 21 (2) (c)

Accrual principles that apply in determining remuneration levels. 82

Financial information

[28] FRD 22 Summary of financial results with comparative information for preceding four years. 9

[29] FRD 22 Summary of significant changes in financial position. 9

[30] FRD 22 Summary of operational and budgetary objectives 8 - 9

[31] FRD 22 Events subsequent to balance date 80

[32] FRD 22 For each consultancy valued in excess of $100,000, 9

[33] FRD 22 Total number of consultancies individually valued at less than $100,000 9

[34] FRD 22 Total expenditure of these consultancy engagements. 9

[35] FRD 22 Financial information must be consistent with that included in the financial statements. 9

[36] FRD 22 The Report of Operations 8 - 9

[37] FRD 27 The Report of Operations 8 - 9

Other relevant information

[38] FRD 22 Freedom of Information Act 1982 51

[39] FRD 22 Building Act 1993 37

[40] FRD 22 Whistleblowers Protection Act 2001 51

[41] FRD 22 National Competition Policy 51

[42] FRD 22 Summary of environmental performance. 37

[43] FRD 22 Information available 51, 97

[44] FRD 22 Statement that declarations of pecuniary interests have been duly completed by all relevant officers.

4

[45] FRD 22 Details of shares 84

[46] FRD 22 Publications 32

[47] FRD 22 Major promotional, public relations and marketing activities 32

[48] FRD 22 Changes in prices, fees and charges 47

[49] FRD 22 Major external reviews 3, 8

[50] FRD 22 Major research and development activity 8

[51] FRD 22 Details of overseas visits 30

[52] FRD 22 List of major committees sponsored by the institute 4 - 5

Overseas Operations of Victorian TAFE Institutes

[53] PAEC Institute’s international operations. 30

Auditor GeneralRecommendation in relation to Overseas Operations of Victorian TAFE Institutes – 3.110 Auditor General, Special Reviews, 30 June 2002.

[54] 3.110 Risk performance measures 30


Source reference

REPORTING REQUIREMENT Indicate the relevant page(s)

Financial Reporting Direction 27 – Presentation of Reporting and Performance InformationAudited Statements of Key Performance Measures (KPIs) must include an audited statement of performance for certain KPIs.

[55] FRD 27A Key performance statement- Participation of 15-24 year olds.- Participation of 25-64 year olds.- Module Load Completion Rate.- Student satisfaction.- Total Cost per Student Contact Hour (SCH).- Working Capital Ratio.- Net Operating Margin.- Fee for Service Revenue.- Revenue per EFT Staff.- Student Contact Hours (SCH).- Energy Consumption.

4646, 4746, 4746, 47, 846464646464646, 47, 837, 46

(B) FINANCIAL STATEMENTSPart 7 of the Financial Management Act 1994 (FMA)

[56] FMA 49 (a) Information as required by the Minister. 55

[57] FMA 49 (b) Prepared in a manner and form approved by the Minister. 55

[58] FMA 49 (c) Present fairly the financial transactions 53, 54

[59] FMA 49 (d) Present fairly the financial position 53, 54

[60] FMA 49 (e) Certified by the Accountable Officer 55

The Financial Statements must be prepared in accordance with:

[61] SD 4.2 (a) Australian Accounting Standards 55

[62] SD 4.2 (a) Financial Report Directions. 61 - 69

[63] SDA 4.2 (a) Business rules. 61 - 69

The Financial Statements are to comprise the following:

[64] SD 4.2 (b) Operating statement. 56

[65] SD 4.2 (b) Balance sheet. 57

[66] SD 4.2 (b) Statement of recognised income and expenses. 56

[67] SD 4.2 (b) Cash flow statement. 60

[68] SD 4.2 (b) Notes to the financial statements. 61 - 69

The Financial Statements must, where applicable, be signed and dated by the Accountable Officer, CFAO and a member of the Responsible Body stating whether, in their opinion:

[69] SD 4.2 (c) Financial statements present fairly 55

[70] SD 4.2 (c) Financial statements are prepared in accordance with directions 55

[71] SD 4.2 (c) Financial statements comply with applicable Australian Accounting Standards 55


Actuarial gains or losses on superannuation defined benefit plansActuarial gains or losses reflect movements in the superannuation liability resulting from differences between the assumptions used to calculate the superannuation expense from transactions and actual experience.

AssociatesAssociates are all entities over which an entity has significant influence but not control, generally accompanying a shareholding and voting rights of between 20 per cent and 50 per cent.

Comprehensive resultTotal comprehensive result is the change in equity for the period other than changes arising from transactions with owners. It is the aggregate of net result and other non-owner changes in equity.

Capital asset chargeThe capital asset charge represents the opportunity cost of capital invested in the non-current physical assets used in the provision of outputs.

CommitmentsCommitments include those operating, capital and other outsourcing commitments arising from non-cancellable contractual or statutory sources.

Employee benefits expensesEmployee benefits expenses include all costs related to employment including wages and salaries, leave entitlements, redundancy payments and superannuation contributions.

Financial assetA financial asset is any asset that is:(a) cash;(b) an equity instrument of another entity;(c) a contractual right:(d) to receive cash or another financial asset from another entity; or

to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or a contract that will or may be settled in the entity’s own equity instruments and is: a non-derivative for which the entity is or may be obliged to receive a variable number of the entity’s own equity instruments; or a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments.

Grants and other transfersTransactions in which one unit provides goods, services, assets (or extinguishes a liability) or labour to another unit without receiving approximately equal value in return. Grants can either be operating or capital in nature. While grants to governments may result in the provision of some goods or services to the transferor, they do not give the transferor a claim to receive directly benefits of approximately equal value. Receipt and sacrifice of approximately equal value may occur, but only by coincidence. For example, governments are not obliged to provide commensurate benefits, in the form of goods or services, to particular taxpayers in return for their taxes. For this reason, grants are referred to by the AASB as involuntary transfers and are termed non-reciprocal transfers.

Grants can be paid as general purpose grants which refer to grants that are not subject to conditions regarding their use. Alternatively, they may be paid as specific purpose grants which are paid for a particular purpose and/or have conditions attached regarding their use.

Grants for on-passingAll grants paid to one institutional sector (e.g. a State general government) to be passed on to another institutional sector (e.g. local government or a private non-profit institution).

Financial statementsDepending on the context of the sentence where the term ‘financial statements’ is used, it may include only the main financial statements (i.e. comprehensive operating statement, balance sheet, cash flow statements, and statement of changes in equity); or it may also be used to replace the old term ‘financial report’ under the revised AASB 101 (Sept 2007), which means it may include the main financial statements and the notes.

Intangible assetsIntangible assets represent identifiable non-monetary assets without physical substance.

Interest expenseCosts incurred in connection with the borrowing of funds. Interest expenses include interest on bank overdrafts and short-term and long-term borrowings, amortisation of discounts or premiums relating to borrowings, interest component of finance leases repayments, and the increase in financial liabilities and non-employee provisions due to the unwinding of discounts to reflect the passage of time.

Interest revenueInterest revenue includes interest received on bank term deposits, interest from investments, and other interest received.

Investment propertiesInvestment properties represent properties held to earn rentals or for capital appreciation or both. Investment properties exclude properties held to meet service delivery objectives of the Institute.

Joint venturesJoint ventures are contractual arrangements between the Institute and one or more other parties to undertake an economic activity that is subject to joint control. Joint control only exists when the strategic financial and operating decisions relating to the activity require the unanimous consent of the parties sharing control (the venturers).

Net acquisition of non-financial assets (from transactions)Purchases (and other acquisitions) of non-financial assets less sales (or disposals) of non-financial assets less depreciation plus changes in inventories and other movements in non-financial assets. Includes only those increases or decreases in non-financial assets resulting from transactions and therefore excludes write-offs, impairment write-downs and revaluations.

Net resultNet result is a measure of financial performance of the operations for the period. It is the net result of items of revenue, gains and expenses (including losses) recognised for the period, excluding those that are classified as ‘other non-owner changes in equity’.

Net result from transactions/net operating balanceNet result from transactions or net operating balance is a key fiscal aggregate and is revenue from transactions minus expenses from transactions. It is a summary measure of the ongoing sustainability of operations. It excludes gains and losses resulting from changes in price levels and other changes in the volume of assets. It is the component of the change in net worth that is due to transactions and can be attributed directly to government policies.

Non-financial assetsNon-financial assets are all assets that are not ‘financial assets’.

Other economic flowsOther economic flows are changes in the volume or value of an asset or liability that do not result from transactions. They includes gains and losses from disposals, revaluations and impairments of non-current physical and intangible assets; actuarial gains and losses arising from defined benefit superannuation plans; fair value changes of financial instruments and agricultural assets; and depletion of natural assets (non-produced) from their use or removal. In simple terms, other economic flows are changes arising from market re-measurements.

PayablesIncludes short and long term trade debt and accounts payable, grants and interest payable.

ReceivablesIncludes short and long term trade credit and accounts receivable, grants, taxes and interest receivable.

Sales of goods and servicesRefers to revenue from the direct provision of goods and services and includes fees and charges for services rendered, sales of goods and services, fees from regulatory services, work done as an agent for private enterprises. It also includes rental income under operating leases and on produced assets such as buildings and entertainment, but excludes rent income from the use of non-produced assets such as land. User charges includes sale of goods and services revenue.

Supplies and servicesSupplies and services generally represent cost of goods sold and the day-to-day running costs, including maintenance costs, incurred in the normal operations of the Institute.

TransactionsTransactions are those economic flows that are considered to arise as a result of policy decisions, usually an interaction between two entities by mutual agreement. They also include flows within an entity such as depreciation where the owner is simultaneously acting as the owner of the depreciating asset and as the consumer of the service provided by the asset. Taxation is regarded as mutually agreed interactions between the government and taxpayers. Transactions can be in kind (e.g. assets provided/given free of charge or for nominal consideration) or where the final consideration is cash. In simple terms, transactions arise from the policy decisions of the Institute.

GLOSSARY OF TERMS

is The delivery and development

of vocational education

programs and value added

services supported by high quality

resources. Students receive every

opportunity to achieve their

educational goals.

Our mission...Holmesglen

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Copyright @Holmesglen Institute of TAFE, February 2012Holmesglen is the trading name of Holmesglen Institute of TAFE

Vocational and Higher Education

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2011ANNUAL REPORT

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