Auditor-General for the Northern Territory June 2016 Report to the Legislative Assembly
Tabled paper 1893
Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT
Tabled by the Speaker
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Auditor-General for the Northern Territory June 2016 Report 57 Menzies School of Health Research Audit findings and analysis of the financial statements for the year ended 31 December 2015 Background The Menzies School of Health Research (the School) was established under the Menzies School of Health Research Act in 1985 and operates as a medical research institute within the Northern Territory. The School is deemed to be controlled by Charles Darwin University by virtue of Section 11(1) of the Act which, at the time of the audit, specified that the Vice-Chancellor and the Deputy Vice-Chancellor (Research) of the University will be ex officio members of the Schools Board, and through Section 11(2)(d) specifies that five of the ten persons appointed to the Board by the Administrator are appointed on the nomination of the University. Audit Opinion The audit of the financial statements of Menzies School of Health Research for the year ended 31 December 2015 resulted in an unmodified independent audit opinion, which was issued on 30 March 2016. Key Findings Total income has increased by $6.2 million this financial year. This predominantly relates to an $8.9 million gain from the disposal of a constructed building in comparison to a $3.8 million loss on the disposal of a building in 2014. The overall improvement, relating to the disposal of assets ($12.7 million), is offset by a reduction of $6.6 million in continuing operations in 2015.