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The Graduate Union of the University of Melbourne Inc.
ABN: 55 610 664 963
Notes to the Financial Statements (continued) for the year ended 31 December 2022
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IARN: A0023234B
13 Contingent Liabilities
The Council is aware that there will be costs in the future to replace building cladding on multiple buildings. At balance date the cost had not been quantified other than for 24 Barkly Place Carlton
14 Capital Commitments
At 31 December 2022 the Association has capital commitments for the replacement of building claddin g at 24 Barkly Place Carlton (18 apartments) cost of $567,519. This amount is payable over 15 years and the upgrade to audio visual equipment, for $33,437.
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16 Events After the Balance Sheet Date
There have been no matters or circumstances which have arisen since the end of the financial year which may significantly affect the operations of the Association, the results of those operations or the state of affairs of the Association in subsequent years.
17 Trusts
The Graduate Union of the University of Melbourne Inc. is a trustee of the following trust: The William Berry and Barbara Funder Postgraduate College Trust Fund.
