Territory Stories

Annual Report 2009 Charles Darwin University Financial Statements year ending 31 December 2009

Details:

Title

Annual Report 2009 Charles Darwin University Financial Statements year ending 31 December 2009

Other title

Tabled paper 917

Collection

Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT

Date

2010-08-10

Description

Deemed paper

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/280736

Citation address

https://hdl.handle.net/10070/415658

Page content

48 CDU 2009 FINANCIAL STATEMENTS CHARLES DARWIN UNIVERSITY AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009 NOTE 35: INTERESTS IN JOINT VENTURES Joint Venture Partnership Note 2009 2008 2009 2008 $'000 $'000 $'000 $'000 Share of Partnership's Assets and Liabilities Current Assets 693 889 693 889 Non-Current Assets 2,881 2,445 2,881 2,445 Total Assets 3,574 3,334 3,574 3,334 Current Liabilities 102 62 102 62 Non-Current Liabilities 52 63 52 63 Total Liabilities 154 125 154 125 Net Assets 3,420 3,209 3,420 3,209 Share of Partnership's Revenues, Expenses and Results Revenues 2,296 1,700 2,296 1,700 Expenses 2,176 1,724 2,176 1,724 Net operating result before income tax 120 (24) 120 (24) Share of Partnership's Commitments (c) Contingent Liabilities Relating to Joint Ventures There are no contingent liabilities relating to joint ventures. NOTE 36: ECONOMIC DEPENDENCY NOTE 37: EVENTS OCCURRING AFTER THE BALANCE SHEET DATE (a) The Northern Territory University, Centralian College and Northern Territory Rural College were amalgamated in 2003, to form Charles Darwin University. The tenure of real property associated with Centralian College was concluded with the Northern Territory Government in May 2010. (b) During the 2009 financial year, the University received funding of $33 million from the Northern Territory Government as a capital contribution for Palmerston Sporting facilities. In June 2010, the Northern Territory Government unveiled their concept plans to deliver an overhaul of AFL facilities at the Universitys Palmerston Campus and the development of sporting facilities in other non-University locations around Palmerston for Tennis, Netball, Rugby league and Football. The level of capital contribution to the University has been reduced to an estimated $10.4 million for the AFL facilities upgrade and $2.0 million for the new Hydrocarbon Institute. The remainder of the funding will be held in Trust by the University until further advice is received from the Northern Territory Government. The Parent Entity has a 50% interest in the Centre for Remote Health, which resides in Australia, the principal activity is the provision of health education and research to remote areas. The parent entity's interest in assets employed in the Centre for Remote Health jointly controlled operation is detailed below. These amounts are included into the financial statements under their respective categories. Consolidated Parent Entity The consolidated entity's share of capital commitments and other expenditure commitments relating to joint venture operations are disclosed in Note 33. The University is funded predominantly by annual appropriations from both the Commonwealth and Northern Territory Governments' to meet proposed cash expenditure on both operational and capital items in the current financial year. These financial statements have been prepared on a going concern basis in the expectation that such funding will continue. Charles Darwin University Financial Statements 2009


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