THE
ELECTION ISSUE
MELBOURNE
The Graduate Union of The University of Melbourne Inc.
GR ADUATE
Periodical newsletter of the graduate union of the university of melbourne incorporated Print Post approved pp337834/00022 registered association no. AA0023234B April 2008 Volume 61 No. 2 www.graduatehouse.com.au
ANNUAL GENERAL MEETING The Annual General Meeting of the Graduate Union of the University of Melbourne Incorporated (“The Graduate Union”) will be held on Thursday, 29 May 2008 at 5.30 pm at Graduate House, 220 Leicester Street, Carlton
Contents
Eugene Spanti, Head of College and CEO April 2008
CALENDAR OF EVENTS 2 LETTERS
2
NEW MEMBERS
2
DONATIONS
2
VALETE
2
AGENDA 1. WELCOME, APOLOGIES AND RULES FOR CONDUCT OF THE MEETING
GRADUATE COUNCIL NEWS
2. CONFIRMATION OF MINUTES To confirm the minutes of the Annual General Meeting held on 31 May 2007 3. BUSINESS ARISING FROM THE MINUTES
Annual Report Income Statement Balance Sheet Notes to the Financial Statements Statement by Council Independent Audit Report Graduate Council Election
3 5 5 6 7 8 8
MEMBERS & RESIDENTS
9
LUNCHEON SPEAKERS
11
THE STELLA LANGFORD PROJECT
12
4. REPORT OF THE CHAIRMAN OF THE GRADUATE COUNCIL FOR 2007 5. FINANCIAL STATEMENTS FOR 2007 Consider and, if thought fit, adopt the accounts of The Graduate Union as printed in the April 2008 edition of The Melbourne Graduate. 6. RESOLUTION That this Annual General Meeting of the Members of The Graduate Union gives its endorsement to the Graduate Council to proceeding with construction of the Stella Langford Project. 7. ELECTION OF COUNCIL MEMBERS The Returning Officer will announce the result of the election and the President will declare the names of the elected Council Members.
Office Bearers
8. RE-APPOINTMENT OF THE AUDITOR President: The Honourable John Cain Vice President: Dr Robert Gibson Chairman: Mr Andrew Binns Vice Chairman: Ms Cheryl Kidston Head of College and CEO Mr Eugene Spanti
9. OTHER BUSINESS (Discussion and Question Time) 10. CLOSE
The Autumn Dinner will follow the Annual General Meeting The speakers for the evening are Mr Anthony Tesoriero and Mr Damian Parras of Max Architects who will explain the Stella Langford Project building process showing architect drawings and artist impressions of the finished development. To book for the dinner please telephone Graduate House 9347-3428 Cost: $35 (Members) $45 (Guests)
April 2008 Volume 61 No.2 –
THE MELBOURNE GRADUATE CALENDAR OF EVENTS 29 Apr Residents’ Meet & Greet 30 Apr Members’ Evening Meet Election Candidates Stella Langford Project Information
7 May Luncheon Speaker: Mr Roger Cook, BA(Economics & Political Science)
29 May Autumn Dinner (following AGM) Speakers: Anthony Tesoriero and Damian Parras of Max Architects
4 June Luncheon Speaker: The Most Reverend Dr Philip Freier, Anglican Archbishop of Melbourne
12 June Afternoon Tea for Chocolate Lovers 2 July Luncheon Speaker: Prof Robin Room, School of Population Health, UOM
17 July Christmas in July Wine Appreciation Dinner – Delatite Wines 6 Aug Luncheon Speaker: Assoc Prof Philomena Murray, Contemporary Europe Research Centre UOM
3 Sept Luncheon Speaker: Dr Piero Genovesi, Italian Australian Association
1 Oct Luncheon Speaker: Professor Tim McCormack, Red Cross Humanitarian Law
23 Oct Wine Appreciation Dinner – Peter Lehmann Wines 5 Nov Luncheon Speaker: tba
3 Dec Luncheon Speaker: Rev Dr John Davis, Vicar, St Peter’s, East Melbourne
5 Dec Chairman’s Cocktail Party 12 Dec Members Christmas Party The Melbourne Graduate is normally published four times a year by The Graduate Union of The University of Melbourne Incorporated. It is edited by Eugene Spanti and Lyn Weston, under the direction of the Graduate Council and its Executive Committee. The Melbourne Graduate welcomes letters from readers and reserves the right to edit them for publication. Please keep word count to a maximum of 250 and address to The Editors, The Melbourne Graduate. Registered Address: The Graduate Union, 220 Leicester St., Carlton, Vic. 3053 Australia. Telephone: (03) 9347-3428 Facsimile (03) 9347-9981 www.graduatehouse.com.au – email: sec@graduatehouse.com.au Printed by: FSG Design & Print, 1 Argent Place, Ringwood, Vic 3134. Tel: (03) 9873 5144
– April 2008 Volume 61 No.2
LETTERS From Peter Tuohy, Secretary – The Rotary Club of Carlton I write to convey the thanks of our Club for the excellent service and meals we have received during the past year. The Members really appreciate the thoughtful and cheerful help and service we receive from Martin, Rosie, Carmen, the Chefs, office and other staff week after week, including assistance with our projector requirements and Board meetings from time to time. Our final meeting was particularly successful one – it’s not the easiest thing to turn on a full breakfast of that quality for 38 people at that time of the day I am sure and the extra effort by way of decorations and finishing touches created just the right note. Please convey our thanks to all concerned with a very successful year for our Club and our best wishes. December 2007 From Marlene Halim, Resident Thank you for being our great Warden at Graduate House! It’s always nice to see you around and chat with you. Looking forward to be back at the G-House (I’ll be back scheduled on Jan 4, 2008). Hope you have a great Christmas and fantastic New Year of 2008. December 2007 From Erwin Wong, Council Member and GH Resident I wanted to wish you a wonderful 2008 and express my thanks for continuing to make Graduate House better with each passing year. Getting me involved with Council has been a special learning experience as well and I look forward to what the new year has in store with the new construction project and library re-modelling. I hope you and your loved ones had a blessed Christmas and I will see you in February. Send my regards to the rest of the staff from Arizona. December 2007 From Judith Gregory, Life Member Thank you very much for your kind birthday card, your good wishes and your offer of champagne at a Graduate House birthday lunch. I was sorry I was not able to take up the offer this year. Best wishes for 2008! December 2007 From Dr O J Raymond OAM Thank you very much indeed for your congratulations and kind words. They are very much appreciated. Thank you also for your invitation to visit Graduate House. February 2008 From Georgia Bushell, Resident Before I can figure out how to thank both you and all the other staff members of Graduate House, I just want to let you know how much your kind gesture meant to me. When you got out the champagne I was so touched and it will be a moment that will stay with me for a long time…. So thank you Eugene and I am happy I could share my success with you and the team at Grad House. March 2008 (Ed. Note: There was celebration when Georgia was successful in a job interview)
NEW MEMBERS The following new members joined the Graduate Union in the period October 2007 – February 2008. We welcome them and look forward to their participation in our members’ programs. Life Members Ms E Chan, BA, GradDipSci(Sydney), MEdPsych Ms S Heath, BA(Q’ld), DipEd(Monash) Ms S Molony, BA, MAppComm(Melb) Associate Members Mr D Goulas, Conway Fish Trading Mrs M Johnstone-Need (wife of Life Member) Ms J Joseph, Caine Real Estate Ordinary Members Ms S Ayre, DipTeach(QUT), BA Mrs M Cliff, BMechEng(Monash) Mrs P Balsamo, BA, DipH(LaTrobe) Prof A Christie, BSc, LLB, LLM(Lon), PhD(Cambridge) Ms B Hoffman, BEd(LaTrobe) Mr R Watson, BBus(RMIT) All degrees are from University of Melbourne unless otherwise noted. Degrees are stated as presented on members’ application forms.
Extract of a letter from Julia Brown, Administrator, St. Mark’s College, North Adelaide SA Many thanks for your hospitality for myself, my husband and daughter… We thoroughly enjoyed our stay in your beautiful environment. We appreciated your wonderful hospitality and took one of the lovely bottles of wine to a special birthday celebration for my daughter with family in Melbourne and ourselves on the Monday evening. It was appreciated by all. Your facilities are excellent and you should certainly be very proud of what you have achieved there and what you are planning. Thank you also for giving me some of your valuable time to discuss VOIP (voice over internet phone). I have further discussed it with the Master on my return….. the time you gave me in Melbourne was very valuable…… March 2008
DONATIONS Building Fund: $200
G Jones, S Siemon
$100
J Guest
$60
D Welch
$50
K Rankin, L Bailey
$25
J Robertson, Y Clarke, B Dove
Residents Assistance Fund: $175
G Jones
$25
A Jack, G Goode, H Miller
Appreciation to Dr Elizabeth Shaw for her donation of $500 towards the upkeep of the Stillwell Room. Dr Shaw, member of the Stillwell family, each year continues the family’s patronage of The Graduate Union.
AUSTRALIA DAY HONOURS 2008 Companion of the Order of Australia (AC) The Hon Justice Susan M Crennan QC, AC joined in 1985 Officer of the Order of Australia (AO) Professor Alan D Gilbert AO, joined in 1995 Dr Spiro Moraitis AO, Life Member Medal of the Order of Australia (OAM) Dr Leo M Clarebrough OAM, joined in 1954 Dr Oliver J Raymond OAM, Life Member Mr Michael Stewart OAM, joined in 1996
VALETE Since publication of the February 2008 edition of The Melbourne Graduate we have been notified of the deaths of the following members: Mr S Aldous, Life Member since 1949 Mr D Foster, Life Member since 1957 Mr O Lade, Life Member since 1954 Mr J Stevens AM, Life Member since 1958 Mr I Hamilton-Scott, Life Member since 1954 Ms B Hewitt, Life Member since 1966 Dr W Hillis AM. Life Member since 1951 Mr R Long, Life Member since 1955 The Graduate Union appreciates the support of these members and extends condolences to their families. We regret that space constraints do not allow individual acknowledgement of each deceased member.
THE MELBOURNE GRADUATE
ANNUAL REPORT
Results and review of operations
The names of Graduate Council members are listed below:
The financial statements show a total operating revenue of $2,232,030 with a surplus of $491,637 (last year $134,597). Revenue includes function and conference income of $347,244 (last year $233,252). Occupancy peaked at 97.74% in June and averaged 91.05% throughout the year compared to 78.30% in 2006.
President The Honourable John Cain
Donations amounted to $16,256, which included a donation of $5,000 from The William Berry Post-Graduate College Trust.
Vice-President Dr R W Gibson
Long term debt is the fixed interest loan with National Australia Bank of $1million. At 31 December 2007 cash on deposit had grown to $782,932.
Your Council presents its report on the Association for the financial year ended 31 December 2007
Chairman Mr J A Binns Vice-Chairman Ms C A Kidston Ex-officio and nominees of Vice-Chancellor Ms J Stephens Dr C O’Brien Twelve elected members Until May 2010 Mr J A Binns (from May 2007) Ms C A Kidston (from May 2007) Mr D N Sparks (from May 2007) Mr E Wong (from May 2007) Until May 2009 Mr A G Cleghorn (from May 2006) Mrs G J Fisher (from May 2006) Dr A K Roberts (from May 2006) Mr N J Taylor (from May 2006) Until May 2008 Dr R W Gibson (from May 2005) Mr D H Room (from May 2005) Ms J P Ruth (from May 2005) Mr A J Vriends (from May 2005) Nature of operations and principal activities The principal activities during the year were the conduct of a residential postgraduate college affiliated with the University of Melbourne and the provision of facilities as University Graduates Club for members of the Graduate Union to enjoy social and intellectual activities. There was no significant change in the nature of these activities during the year.
Graduate Council The Graduate Union depends on the contribution from members of Graduate Council and the staff. In May the usual elections took place. Dr David Bellair and Dr David McCredie did not seek re-election to Graduate Council and we thank them for their contribution during their time on Graduate Council. We welcomed to Council as new members Mr David Sparks and Mr Erwin Wong. Graduate House Staff The Head of College and Chief Executive Officer, Eugene Spanti continues to be supported by Assistant Secretary Lyn Weston. Martin Rule continues to run the catering, conference and function areas in a very efficient manner. The catering team, namely Chef Peter Wills, Kitchen Assistant Margaret Schintler and Basma Tantawy are doing an excellent job in catering for both residents and members. Rosie Ellul, Catering and Conference Supervisor with Carman Tabone and Aron Peudel continues to provide friendly and efficient service to conference and events patrons and lunchtime guests. The front desk is being very capably handled by Diana Moyses, who welcomed the flow of residents who sustain the high occupancy levels. Rhonda Teoh has taken on the marketing role at Graduate House, her new title is Marketing and Administrative Officer. Rhonda also assists with reception duties in addition to helping with increased workloads in all areas of Graduate House operations. April 2008 Volume 61 No.2 –
THE MELBOURNE GRADUATE Diane Thomas continued as Bookkeeper during 2007, attending Graduate House every Thursday to deal with the day-to-day accounting procedures. Throughout the year housekeepers, Anne Ladkins, Diane Swain, Sheila Bevan and Anna Condello ensured the accommodation services were maintained to the highest level, while Lou Tarquinio and Carmine Santalucia, the maintenance and handymen maintained the building and service areas. All have contributed to a smooth working team.
application for a planning permit for a building project on the site of the Stella Langford Annexe. Max Architects were engaged to carry out the work and at the 2007 Annual General Meeting in May presented to members their ideas for the site, together with artists’ drawings of the finished building. The Planning Permit for The Stella Langford Project was approved on 16 January 2008. On 12 February 2008 Graduate Council approved a budget allocation to cover preparation of working drawings and contract documentation.
Membership
Summary
There were 2026 members at the end of 2007 of whom 1487 were life members.
The greatly improved financial results of the Graduate Union reflect the attraction of the improved and new facilities at Graduate House. Occupancy has been sustained at very high levels and all members of this Union benefit from, and increasingly use the upgraded facilities. Further, the zeal and enthusiasm of the staff, ably led by the Chief Executive Officer, has propelled the Graduate Union to complete a most successful year, perhaps the ‘best ever’.
There are now thirty-seven Corporate and Associate memberships. Over all membership categories, 211 new members joined the Graduate Union in 2007 (Life 7, Ordinary 50, Associate 15, Corporate 4 and Resident 135). New social events are planned for 2008 and it is anticipated these will attract new members and increase business opportunities. Reciprocal Contacts The Head of College and CEO visited reciprocal clubs in the United Kingdom in August. Following his visit to the Goodenough Club and Oxford and Cambridge Club in London he visited Italy where Reciprocal Agreements were signed with the ESU in Padua and the University of Sassari in Sardinia.
Significant events after year-end There have been no significant events, other than those that have been referred to in this report, since 31 December 2007 which may affect the operations or financial position of the Graduate Union. Signed pursuant to a resolution of Council.
Significant events during the year
Mr J Andrew Binns Chairman 1 April, 2008
At its February 2007 meeting Graduate Council approved finance for a feasibility study and Attendance at Council and Committees (*part year only)
Hon J Cain Dr R Gibson Mr N Taylor Mr A Binns Dr D Bellair* Dr D McCredie* Mr D Sparks* Mr A Cleghorn Mr E Wong* Mr D Room Ms J Ruth Mr A Vriends Ms C Kidston Dr A Roberts Mrs G Fisher
Council Mtgs No held Attd. 6 5 6 5 6 5 6 6 6 1* 6 1* 6 4* 6 6 6 4* 6 5 6 2 6 1 6 5 6 5 6 4
– April 2008 Volume 61 No.2
House Board Mtgs No held Attd. 5 5 5
2 3 1*
5
3*
5 5
1 4
5
0
5 5
4 4
Acct&Audit Mtgs No held Attd. 5 5 5
5
5 5 4
5
Membership Mtgs No held Attd. 4 4 4 4 4 4 4
4 1 1* 1* 3* 4 3*
4 4 4 4 4
3 2 4 1 4
Executive Mtgs No held Attd 2 2 2 2 2
2 2 1 1 1
2 2
0* 1
THE MELBOURNE GRADUATE INCOME STATEMENT FOR THE YEAR ENDED 31 December 2007
INCOME Subscriptions Accommodation Property rentals Catering Donations: Building Donations: Other Interest received Other income
2007 $
2006 $
74,757 71,161 1,299,215 1,052,683 11,809 12,704 788,839 660,505 11,609 555 4,647 38,636 2,518
5 ,831 13,918 15,054
2,232,030 1,832,411 EXPENDITURE Employment costs Catering supplies Utilities Communication costs Rates & government taxes
805,540 333,262 57,603 110,545 15,878
795,578 304,928 54,075 104,208 15,967
Professional fees Legal expenses Insurances Interest & bank charges
77,350 13,862 26,278 93,569
80,149 14,255 29,694 89,748
Repairs & maintenance Depreciation
125,595 64,655
141,763 61,063
1,724,137 1,691,428 NET SURPLUS LESS ABNORMAL ITEMS
507,893
140,983
2007 $
2006 $
Cash (See Note 4(a))
801,801
399,495
Receivables Stock (See Note 4(b)) Prepayments TOTAL CURRENT ASSETS
2,879 10,630 22,878
16,358 8,208 24,297
838,188
448,358
CURRENT ASSETS
NON-CURRENT ASSETS Property, plant & equipment (See Note 5) TOTAL NON-CURRENT ASSETS
16,159,335
16,027,022
16,159,335
16,027,022
TOTAL ASSETS
16,997,523
16,475,380
255,626
235,040
104,834
95,191
360,460
330,231
1,000,000
1,000,000
1,000,000
1,000,000
1,360,460
1,330,231
15,637,063
15,145,149
14,438,781 1,198,282
14,438,504 706,645
15,637,063 ========
15,145,149 ========
CURRENT LIABILITIES Creditors and borrowings (See Note 6) Provisions (See Note 7) TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES Creditors and borrowings (See Note 6) TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES
Donations: Building Donations: Residents’ Assistance Fund
11,609
4,370
4,647
2,016
Transferred
16,256
6,386
491,637 ======
134,597 ======
NET SURPLUS (after deducting Abnormal Items)
BALANCE SHEET AS AT 31 December 2007
NET ASSETS MEMBERS’ EQUITY Reserves (See Note 8) Retained Funds (See Note 11) TOTAL MEMBERS’ FUNDS
April 2008 Volume 61 No.2 –
THE MELBOURNE GRADUATE The accompanying notes form part of these financial statements NOTES TO THE FINANCIAL STATEMENTS 1(a) STATEMENT OF ACCOUNTING POLICIES These financial statements are general purpose financial reports prepared for use by members of the Association. The Council has determined that the Association is a reporting entity. The statements are prepared in accordance with the requirements of applicable Accounting Standards and other mandatory professional reporting requirements in accordance with Schedule 1 of Associations Incorporation (Prescribed Particulars) Regulations 2001. The statements are prepared on an accruals basis and are based on historic costs and do not take into account changing money values or, except where specifically stated, current valuations of non-current assets. The following material accounting policies, which are consistent with the previous period unless otherwise stated, have been adopted in the preparation of this financial report. 1(b) PLANT AND EQUIPMENT Plant and equipment are measured on a cost basis. The carrying amount of plant and equipment was reviewed to ensure that the carrying value of these assets reflected their effective lives. 1(c) DEPRECIATION OF FIXED ASSETS The depreciation charge for plant and equipment is calculated on the straight line basis over the effective lives of the assets. 1(d) OPERATING REVENUE Details of operating revenue are in the Income Statement. Consistent with the previous year, life subscriptions & donations have been brought to account on a cash-received basis. Accommodation revenue is brought to account on the accruals basis. 1(f) INCOME TAX The Association’s income is exempt from income tax by virtue of Section 23(e) of the Income Tax Assessment Act 1936 (as amended) and has been endorsed as a tax concession charity for GST and fringe benefit tax by the Australian Taxation Office. 1(g) DONATIONS The Association is registered as a Deductible Gift Recipient for donations over $2. Donations are accounted for through the Income Statement and where applicable the Reserves. (See Note 8). 2007 $
2. AUDITOR’S REMUNERATION For audit of accounts 6,466 For other services Nil (no other benefits were received by the auditor)
2006 $ 5,384 Nil
3. COUNCIL MEMBERS’ EMOLUMENTS The Council members of the Graduate Union of the University of Melbourne Inc have not received and do not receive any remuneration for their services. 4 ( a ) C A SH Cash at Bank 17,619 70,372 Cash Float & Bar Float 1,250 1,250 Term Deposits 782,932 327,873 801,801 399,495
– April 2008 Volume 61 No.2
4(b) STOCK – AT COST Wine & Food
2007 $
2006 $
10,630 10,630
8,208 8,208
5. PROPERTY, PLANT AND EQUIPMENT (a) Property (i) Nos 210-214 Leicester Street, Carlton Freehold land and buildings at Council’s valuation 4,600,000 December 2006
4,600,000
(ii) Nos 222-228 Leicester Street, Carlton Freehold land and buildings at Council’s valuation 3,400,000 December 2006
3,400,000
(iii) Nos 230-234 Leicester Street, Carlton Freehold land and buildings at Council’s valuation 2,550,000 December 2006
2,550,000
(iv) No 220 Leicester Street, Carlton Freehold land and buildings at Council’s valuation December 2006
5,200,000 15,750,000
5,200,000 15,750,000
430,989 (171,402) 259,587
383,769 (106,747) 277,022
63,318 (15,979) 47,339
Nil Nil Nil
102,409
Nil
16,159,335
16,027,022
6. CREDITORS AND BORROWINGS Current Cred itors 44,759 Net Accruals 37,774 GST Payable 6,394 Residents’ Bonds & Advance 166,699 Accommodation Deposits
12,710 42,337 8,042 171,951
255,626
235,040
1,000,000 1,000,000
1,000,000 1,000,000
104,834
95,191
(b) Plant and Equipment Plant and equipment - at cost Provision for depreciation (c) Capital Improvements Bathroom Renovations – at cost Less: Transfer from Reserves (d) Stella Langford Project –at cost Total Property Plant & Equipment (Items (a) to (d))
Non-Current Secured Fixed Term Bill (due 2014) 7. PROVISIONS Employee Entitlements
Other than the provisions raised the Council is not aware of any other contingent liabilities.
THE MELBOURNE GRADUATE
8.
2007 $
2006 $
14,410,358 Nil 14,410,358
10,744,580 3,665,778 14,410,358
RESERVES
(a) Asset Revaluation Reserve Balance at 1 January Revaluation Increment Balance 31 December (b) Residents’ Assistance Reserve Balance at 1 January Donations Balance 31 December (c) Building Reserve Balance at 1 January Donations Transfer to Assets (see Note 5(c)) Balance 31 December
23,776 4,647 28,423
21,760 2,016 23,776
4,370 11,609 (15,979) Nil 14,438,781
4370 Nil Nil 4,370 14,438,504
(a) Cash flows from operating activities 74,757 2,096,281 18,774 (1,625,004)
71,408 1,812,185 27,758 (1,584,295)
564,808
327,056
11,809 (165,727)
12,704 (55,814)
(47,220) 38,636
(70,116) 13,918
(162,502)
(99,308)
Net increase/(decrease) cash held Cash at start of financial year
402,306 399,495
227,748 171,747
Cash at end of financial year
801,801
399,495
Cashflows from investing activities Property rentals Funds expended on development and renovations Funds expended on asset purchases Interest on investment accounts Net cash used by investing activities
(b) Reconciliation of net cash provided by operating activities to operating surplus before abnormal items Operating surplus before abnormal 507,893 140,983 items Depreciation of non current assets 64,655 61,063 Changes in net assets and liabilities Increase/(Decrease) in provision for employee entitlements
2006 $
Decrease/(Increase) in receivables Prepayments and inventory
12,478
(15,698)
Increase/(Decrease) in other Creditors/Borrowings
20,591
114,491
(213,231)
(3,784,430)
277
3,667,794
402,306
227,748
Decrease/(Increase) in non-current assets Increase/(Decrease) in Reserves Net Increase/(Decrease) in Cash Held
10. SHARE CAPITAL The Association has no share capital. The Association was incorporated under the provisions of the Associations Incorporation Act on 12 June 1991. 11. RETAINED FUNDS
9. STATEMENT OF CASHFLOWS
Members’ subscriptions Accommodation & meals Donations & other income Payments to suppliers & employees Net cash provided by operating activities
2007 $
Retained funds at 1 January
706,645
572,048
Add Net Surplus for year Less Donations transferred to other Reserves
507,893
140,983
(16,256)
(6,386)
1,198,282
706,645
Retained Funds at 31 December
12. The Graduate Union of the University of Melbourne Incorporated is not a trustee of any trust at the date of this report, except for the Residents Assistance Fund (See Note 1(g)). The balance of the Residents’ Assistance Fund is deposited separately with the National Australia Bank.
STATEMENT BY COUNCIL The Council of The Graduate Union of the University of Melbourne Incorporated is of the opinion that: (a) the accompanying Income Statement is drawn up so as to give a true and fair view of the operations of the Association for year ended 31 December 2007; (b) the accompanying Balance Sheet is drawn up so as to give a true and fair view of the state of affairs of the Association as at 31 December 2007; and (c) there are reasonable grounds to believe that the Association will be able to pay its debts as and when they become due and payable. By resolution of the Council.
9,643
43,545
A. Binns E.A. Spanti
Chairman Head of College and CEO
Carlton, 1 April 2008
April 2008 Volume 61 No.2 –
THE MELBOURNE GRADUATE
Chartered Accountants
A. L. Law, FCA Evergreen Avenue, Balwyn, Vic 3103 Phone 9830 1242, Mobile 0417 013 395 ABN 45 614 724 892 Independent Audit Report to the Members of THE GRADUATE UNION OF THE UNIVERSITY OF MELBOURNE INCORPORATED SCOPE I have audited the financial report of The Graduate Union of the University of Melbourne Incorporated for the year ended 31 December 2007, as set out in the Annual Report on pages 3 to 7. The elected Council is responsible for the financial report and has determined that the accounting policies used and described in Note 1 to the financial statements which form part of the financial report are appropriate to meet the needs of the Associations Incorporation Act (Victoria) 1981 and the needs of members. I have conducted an independent audit of the financial report in order to express an opinion on it to the members. My audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance whether the financial report is free of material misstatement. My procedures included examination, on a test basis, of evidence supporting the amounts and other disclosures in the financial report and the evaluation of accounting policies and significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all material respects, the financial report is presented fairly in accordance with Accounting Standards, the requirements of the Associations Incorporation Act (Victoria) 1981 and other mandatory professional reporting requirements in Australia so as to present a view which is consistent with my understanding of the Graduate Union’s financial position, and the results of its operations and its cash flows. The accounting policies do not require the application of all Accounting Standards and other mandatory professional reporting requirements in Australia. The audit opinion expressed in this report has been formed on the above basis. AUDIT OPINION In my opinion, the financial report of The Graduate Union of the University of Melbourne Incorporated is properly drawn up in accordance with applicable Accounting Standards and other mandatory professional reporting requirements in Australia, so as to give a true and fair view of the state of affairs of The Graduate Union of the University of Melbourne Incorporated as at 31 December 2007, and the results of its operations and its cash flows for the year ended on that date. A. L. Law FCA
Registered Company Auditor, Reg No. 9310 Carlton, 1 April 2008
– April 2008 Volume 61 No.2
GRADUATE UNION COUNCIL ELECTION General Information As a result of the call for nominations published in the February issue of The Melbourne Graduate two (2) valid nominations have been received for the four (4) positions to be filled. A poll will therefore not need to be held, and the following candidates will be declared elected by the President at the Annual General Meeting to be held on Thursday, 29 May 2008. They will have terms expiring in May 2011.
Personal Information and Policy Statements submitted by Candidates For the information of members of the Graduate Union the successful candidates are listed below in alphabetical order. The information provided by the candidates has been standardised only by listing the surname first, followed by other names, and the listing of degrees and diplomas and the inclusion of the names of the proposer and seconder of the candidate. CLIFF, Merren, BMechEng(Hons)(Monash) Proposer – David Sparks Seconder – John Andrew Binns A Mechanical Engineering graduate from Monash University, I have worked in Engineering and Computing in both public (MMBW, SECV) and private (International Computer Limited, Siemens Canada, SCT) sectors. I was also the founder and owner of a small-medium business (Sage Technology) for over 15 years. Currently employed at the Melbourne Research Office as Manager, Research Systems and living in Parkville, I have a keen interest in the Graduate Union. I look forward to contributing my management skills and business knowledge to the council, if elected. GIBSON, Robert W, PhD(Cincinnati), MCom(Melb), FCPA, FCIS Proposer – Neil James Taylor Seconder – David Thomas Bellair The primary reason for seeking support for re-election is to assist the continuing progress of the Graduate Union. In co-operation with other members of Graduate Council I have been involved in establishing the stability and future of Graduate House as an affiliated college of the University. I seek a further term during which I hope to assist in completing the Stella Langford Project. This will further strengthen the financial future of the Graduate Union. Living on the coast has not restricted my capacity to attend at Graduate House nor will it do so in the future.
Ron Ritchie, Returning Officer
THE MELBOURNE GRADUATE NEW MEMBER PROFILE Ms Janine Joseph Many of our members may recall the passion with which Janine shared her personal story and spoke on the subject of Organ Donation at our monthly luncheon in May 2006. As a live organ donor, having donated a kidney to her twin sister in November 1980 in a life saving operation, and an ambassador for LIFE Gift, the Victorian Organ Donation Service, Janine’s enthusiasm was palpable. Her poignant and triumphant personal story remained with those present on the day. Still an avid advocate of Organ Donation she somehow manages to fit in a full time career as well. When Janine made the decision to change her career path and join the residential real estate profession, it was after much consideration and soul searching. Her eclectic professional past, originally in teaching, included small business in the period home industry and business broking, and had provided both satisfaction and success. Having taught for many years Janine, as with many teachers, soon realized how many of her skills were transferable into other work domains. In life and in work Janine is known for her tenacity and her ability to enthuse and encourage, as those present at the luncheon would testify. Her involvement with properties in the Parkville, Carlton and East Melbourne regions means she is now frequenting the area and has been provided with the perfect opportunity to join Graduate House. She is thrilled at all that is on offer and looks forward to meeting other members.
NEW STAFF Christopher Kang Chris Kang commenced at Graduate House in February. He is very passionate about cooking and in the short time he has been at Graduate House he has introduced several new ideas and additions to the Asian menu. He was trained in a European kitchen but has now moved into Asian cuisine. He says he feels this style of cooking is more in tune with his natural roots. Chris’s father is Singaporean and his mother is Indonesian and he has two sisters. Away from Graduate House his many interests besides cooking, include bike riding and attending airshows. He is also very keen on all things military, including watching military dramas and making models of aircraft and armoured fighting equipment. Chris would like to get to know as many members and residents as possible. He says it makes it easier to please his customers if they tell him what they like or, perhaps more importantly, what they would like changed.
NEW VOLUNTEER Introducing Miss Poppy Boaden “Good Morning Everybody. I am the new volunteer. My name is ‘Little Poppet’ but they call me Poppy – you may call me that too. I have come to exercise ‘a watching brief’ (lawyer language you know). That means I shall be watching hard to see if you fill the envelopes correctly! I also intend to take a real interest in the morning tea biscuits. My predecessor, Chloe, had excellent taste and would never accept inferior cream biscuits when she knew we should be eating the special Italian ones! We must continue to maintain these important standards you know.”
RESIDENTS Etsuko Kato Hello everyone. I am from Japan two weeks ago and study criminology at Melbourne University. It was four years ago when I came here in Australia for the first time. That was a very nice memory and since then I had been planning to be a student at Melbourne University. Now my dream came true, so I am quite happy. People in Graduate House are very friendly and kind. I would like to have a good time with you. Please feel free to talk to me. My hobby is playing the saxophone. Sujata Roy I was born in India and have been lucky enough to live in many different countries from a very early age as my parents travelled around the world for their work. Some of these places include the UK, Kenya, Hong Kong, Papua New Guinea and New Zealand. After completing a Bachelor of Optometry (Hons) from the University of Auckland I gained experience in clinical practice around South Australia and Queensland. I was saddened by the prevalence of glaucoma and age-related macular degeneration in the community, which both lead to irreversible vision loss, and am currently finishing a PhD on the visual pathways in the brain encoding signals for colour, form and motion. These attributes of vision are often compromised in sightthreatening diseases before the symptoms present. I am hoping this basic data may provide a foundation from which tests for earlier detection can be designed, leading to prompt treatment and a better outcome. Luis Eduardo Rosanes Rodriguez I have stayed in the Graduate House for two months now and I can say that it is a wonderful place for studying and really obtaining the tools to concentrate as demanded by our graduate standard. You can feel that it is managed by professionals with a goal directed towards efficiency. Also it provides a multicultural environment that helps the student share knowledge with graduates from all over the world. I am very thankful for the time I have spent here and I am looking forward to coming back soon. Carsten Horn Carsten is from Germany and spent three months in the Graduate House from January to March 2008. He studies in the PhD program in Finance at WHU – Otto Beisheim School of Management in Germany and conducts research in the area of Private Banking and quality measurement. During his time in Australia, he conducted research at the University of Melbourne and enjoyed the friendly and wonderful atmosphere at Graduate House. In his free time, he likes swimming, cycling and jogging. Colin Chan Colin is a Vancouverite visiting Melbourne to pursue a Master of Environmental Engineering. He has spent the past 3 years working in various areas of Canada as a consultant engineer. Since arriving, he has thoroughly enjoyed the social atmosphere of Graduate House. Meeting fellow residents, many in similar situations, has created an instant circle of friends, helping to overcome the (initially) intimidating transition to living overseas! Colin spends his spare time exploring Melbourne and trying new things. He is currently learning the ins and outs of Aussie Rules Football, and recently joined an Ultimate Frisbee club at the University. Items on Colin’s April ‘to do’ list include rebuilding a discarded bicycle he came across in Richmond and visiting the Great Ocean Road! Peter Kaiser Peter will finish his PhD in Science this year and would like to use the opportunity to get in contact with potential employers worldwide. His country of origin is Germany, and he is planning to go back to Europe after finishing his PhD degree. He studied chemistry at the Technische Universitaet Muenchen (TUM), and received his BSc in 2003 and MSc in 2004. He is currently doing a PhD on new methods for amino acid and peptide synthesis under the supervision of Dr Craig Hutton at The University of Melbourne.
April 2008 Volume 61 No.2 –
THE MELBOURNE GRADUATE AN UPDATE
REFURBISHMENT OF THE JOHNSTON LIBRARY AND ANDERSON ROOM
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he Johnston Library refurbishment proceeded through February and early March with several weeks of timber restoration. Friday 14 March saw the arrival of 24 beautiful high backed dining chairs covered in a brocade of burgundy and gold and on Monday, 17 March the Library refurbishment was unveiled for the final meeting of the Library Working Party. For the occasion the long table was set up for a dinner for 22 people complete with candelabra, flower centrepieces and all the accoutrements for a lavish dinner party. The result was unanimously voted an outstanding success. The Library will now be used for small dinner parties and other special occasions requested by members. The refurbishment of the Anderson Room is nearing completion. Alterations have included repainting and restoration of the original wallpaper. Courtesy of Melbourne University Press, many new titles have been added to the selection of books available and several recently published books have been purchased from the University Bookshop. Nay Lin Soe, a resident of Graduate House has agreed to take on the position of Honorary Librarian and is in the process of cataloguing the collection. In addition, several periodicals have been added to the selection of newspapers available. These include Time, New Scientist and The Economist. A reading table and seating at a comfortable height have been installed and residents are very happy with the new furniture arrangements which also include several settees for relaxing. The colour scheme for the room is a restful grey and green. MEMBERS ARE INVITED TO BROWSE THROUGH THE PUBLICATIONS AND BORROW BOOKS A full list of book titles and authors will soon be available on the foyer computer. Loan Book is now located in the Anderson Room. Please enter the date, your name and the name of the book(s) being borrowed. Returns Box is located in the Anderson Room. For convenience please place books being returned in this box. Out-of-Date Periodicals are available in the foyer. Members are welcome to take these periodicals and magazines. Companies offering discounts to Graduate Union Members
Australian Unity, Hertz, Pathfinder Coaching, Pickford Pharmacy, Non-Profit Purchasing, DeBortoli Wines
Open for Lunch and Dinner - 7 Days Private Room Available 10% off meals for Graduate Union Members Tuesday to Thursday on presentation of card. (Discount applies to groups of 6 or less) 766 Whitehorse Road, Mont Albert, Vic. 3127 Tel: 03 9898 5188 Fax: 03 9898 5348
10 – April 2008 Volume 61 No.2
The Johnston Library
The Anderson Room
THE CLUB BISTRO THROUGHOUT 2008 WILL HOST A COMPETITION Bistro patrons will be given the opportunity to fill in a feedback form
THE PRIZE IS A 42” PLASMA TELEVISION TO BE DRAWN IN DECEMBER. THERE WILL ALSO BE INTERIM MONTHLY PRIZES
Graduate House Club Bar
N Bistro The Club
NOW OPEN ON THURSDAY EVENINGS FROM 5PM Members & Residents are invited to enjoy fine wine, nibbles and music.
Club Bistro Loyalty Card
A Loyalty Card has been initiated for Club Bistro patrons with FREE meals and coffee.
THE MELBOURNE GRADUATE
, ST. VALENTINE S DAY DINNER
LUNCHEON SPEAKERS FEBRUARY
Brian Howe spoke compellingly about the changes to Australian society post World War Two, particularly the change from the notion of a male breadwinner supporting a wife and family. The rapid changes, he said, have created a much less predictable environment and one in which the role of women has changed dramatically. Women have become increasingly career oriented and are now firmly established in the workforce. Weighing up Australian Values’ looks at the importance people’s capacity to bank time so that they can vary their work commitments in the light of caring responsibilities, education and training or because of community responsibilities they may have at certain times. Brian’s interest is in using social policy to ensure that the economic transformation of the last quarter of a century can be made better to serve the purpose of helping Australians to build more satisfying lives. MARCH Dr Alan Goble commenced his address by quoting from Shakespeare and the seven ages of man. When he had thoroughly depressed the audience with his summation of what to expect during their travels through the later ages, he then had them laughing at some of his own experiences and tribulations on the path to old age. He said over the age of 30 a person lost approximately one percent per annum of all functions, both mental and physical. As function deteriorates, to a certain degree experience takes over and compensates for the functional loss. He said it was possible to delay physical deterioration by combining a healthy, low fat diet with regular exercise and delaying mental decline by encouraging the mind to work. Dr Goble was quite scornful of pharmaceutical companies and doctors who promoted ‘a drug for every ailment’ rather than prevention by a healthy lifestyle or cure by a change of lifestyle. He said patients would be better served if doctors took the time to listen to their worries, rather than being ruled by the dollar cost for service time mentality. Dr Goble has been practising as a cardiologist for 40 years and is widely considered to be the pioneer of cardiac rehabilitation in Australia. He was the first person to be awarded the Distinguished Service Award by ACRA and is now Cardiology Consultant at the Heart Research Centre and an adviser to the Board. APRIL Ann Albrecht spoke with great passion about teaching Jane Austen, particularly Pride and Prejudice, to her students at Presbyterian Ladies’ College in Burwood. She read the first chapter of Pride and Prejudice, taking on the individual characters and essence of the novel. It was a wonderful way to begin her address and the audience were enthralled. Ann teaches English and Literature from Year 8 to Year 12. She said from the outset that she was a very old-fashioned teacher who believed strongly in the teaching of grammar. However, it was clear that her special love is literature, especially Jane Austen. She gave a synopsis of the elements of a good novel which remain constant and include plot – problem, suspense, climax and resolution; setting – taking in time and place; themes – being running ideas; point of view; the values of the era; style; and finally, structure. Ann said one of her greatest joys was to see the dawning of understanding by her students, followed by an appreciation of the writing and the story itself. It was a very well attended luncheon which certainly lived up to its expectations.
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he St Valentine’s Day Wine Dinner was a more casual event than usual with several activities keeping everybody entertained. The various competitions became very competitive at times with guests vying for prizes and accolades. There were prizes throughout the evening for the various activities and all members of the winning table received vouchers for a free lunch at Graduate House with complimentary wine. In the spirit of the romantic theme of the night, each lady received a presentation bottle of sparkling Moscato (pink champagne) with chocolate hearts. Everybody enjoyed the event, saying what a delightful and fun evening it was. Dr Gabrielle Medley a Life Member since 1978 sent the following message the next day: “I want to thank you and the “team” for a really nice evening yesterday... The organisation was faultless, the food was great, the ambience lovely, and I think everyone had a really good time. It was my first “function” in the new building and I was surprised and delighted about it. In particular it was really good to meet “the team” because all of you were a really integrated part of the very happy evening. WELL DONE!!!!! Best wishes” April 2008 Volume 61 No.2 – 11
THE MELBOURNE GRADUATE
The Stella L angford P roject
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he planning permit for The Stella Langford Project was approved on 16 January 2008 and at its meeting on 12 February 2008 Graduate Council approved finance to take the project to the tender drawing and building permit approval stage. The fact that there was not a single objector to the application for a planning permit is an endorsement of the Graduate Union’s demonstrated concern to protect the heritage character of the property and the precinct.
The additional facilities provided by The Stella Langford Project will make a substantial contribution to the Union’s financial results because there will be little change in standing charges or fixed costs. This has been reflected in the impact of the building opened in 2005. The increased conferencing and functions facilities planned for the new Stella Langford building will promote growth in this financially rewarding area of the Graduate Union’s operations. At the same time the creation of the new residential apartments will widen the range of accommodation options and will be financially self sustaining. The provision of parking not only supports the existing operations but is itself financially positive due to the demand for parking in the University of Melbourne precinct. The Financial Facts It is intended to continue the existing long term loan of $1 million so that the present cash balances of $700,000 will be available to cover all architects’ and consultants’ fees. This then means that new finance will be required to match the building contract cost. The estimated cost of The Stella Langford Project is $6 million. Ignoring any financial benefit which will accrue from the new facilities, the present level of surplus generated from current operations indicates that the Graduate Union can afford an interest rate of about 9 or 10 per cent and still at least break even. Every one per cent increase in interest rates costs $60,000 and every decrease of one per cent saves $60,000. At present interest rates are on the rise but within the life of the financing of the project we may expect the interest rate cycle to lead downwards at some time as readily as it may continue to rise in the immediate future. There is confidence that borrowings can be secured at interest rates which are within the capacity of the Graduate Union to service the debt. The margin of safety increases to the extent that the new facilities generate new revenues. At present the financial statements show property assets of approximately $16 million. Add on the new building at about $6 million and the total becomes $22 million. The anticipated borrowings of $6 million represents about one third of the value of assets. Such a low level of indebtedness should ensure a capacity to fund the borrowings at any time. While there is no expectation that operations might collapse and reduce revenue streams so that it could become difficult to service the borrowings, such a possibility must be taken into account as part of responsible decision making. It is considered that there are options available in such an extremity which would resolve such a problem without threatening the ongoing viability of the Graduate Union.
MEMBERS’ EVENING AT GRADUATE HOUSE 30th APRIL 2008 – 5PM - 6.30PM
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MEET THE CANDIDATES FOR ELECTION STELLA LANGFORD PROJECT INFORMATION
12 – April 2008 Volume 61 No.2