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GPR A/09 Annual Report General Practice Registrars Australia


Contents

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Chair Report CEO Report Board of Directors Staff Report

04 06 10 11

Corporate Governance Report Nominations and Remunerations Committee Report Director’s Declaration Finance Report External Auditor’s Report

12 14 15 16 20

Financial Statements Statement of Cashflows Balance Sheet Profit & Loss Statement Notes to the Financial Statements

23 23 24 26 30

03


Chair Report GPRA is an energetic and dynamic company that has continued to grow over the last 12 months. Over the course of the past year we have worked to enhance our governance procedures to ensure that we develop in line with our strategic goals and with a standard of excellence in all areas. From the perspective of Chair, perhaps most crucial to this process has been the activity and development of the Board. We have met face to face 3 times this year to focus on strategic planning and policy development as well as to review many board and company policies. This, along with regular teleconference meetings, means that I have enjoyed the support of an efficient and effective Board and I sincerely thank all our Board Directors for their outstanding commitment. The Board began the year by making slight modifications to our vision statement: “GPRA will promote General Practice as the medical specialty of choice and improve the healthcare of all Australians through excellence in education and training for registrars present and future.” We also identified five strategic aims the company would strive towards: 1. Maintain and strengthen good relationships with Stakeholders 2. Seek to improve communication internally & externally 3. Continue to foster a supportive environment for General Practice Registrars 4. Continue to promote General Practice as the Medical Specialty of Choice 5. Seek to sustain and enhance the culture of teaching within General Practice We have already made significant advances in each of these areas. The following report covers some of the highlights of the past year. Registrar Advocacy This is and will continue to remain GPRA’s core priority. During this last year we have been active in supporting Registrars on a number of important fronts. Our activities have included: • Development of a website to promote self-care amongst Registrars: “RCUBED - Real Resilience Resources” www.rcubed.org.au which is supported by a monthly e-Newsletter that goes out to Registrars to remind them of the importance of looking after themselves. • Strongly expressing the distress of Registrars to the RACGP regarding the major price increase to the Fellowship exam and conducting a survey of Registrars to add weight to this advocacy. • Negotiating with the Supervisor Network regarding the National Minimum

04

Terms & Conditions document. • Supporting and assisting individual Registrars with questions, queries and grievances. • Undertaking a large survey of Registrars’ views regarding compulsory rural terms and proposed changes to the Pathways System; this has allowed for meaningful and representative feedback to be given to GPET and other stakeholders. The Advisory Council, consisting of Registrar Liaison Officers (RLOs) from around the country and other National Representatives, continues to be active in its support of Registrars and continues to inform GPRA’s direction. With 2 meetings each year and regular listserver correspondence, this group is essential in ensuring that GPRA are representative of Registrars’ views. Thank you to all of the dedicated RLOs for all of your work. Promotion of General Practice In keeping with our mission of promoting General Practice as the Medical Specialty of choice, we are striving to ensure that medical students and junior doctors are exposed to interesting and inspiring stories and experiences of General Practice from their peers. Such resources will hopefully inspire record numbers of students and junior doctors to choose General Practice as their career.

General Practice Infrastructure Grants be made available to expand capacity to train medical students, PGPPP doctors and Registrars. GPRA is also extremely fortunate to have had Mr Amit Vohra at its helm as CEO now for 3 years, with several years of work behind the GPRA scene prior to that. His knowledge of the company and the General Practice sector is invaluable to the success of the company and we are delighted to have negotiated with him a further 3 year contract. He is supported by an excellent team at GPRA head office and I would like to extend my sincere thanks to all for your hard work and dedication. I am hoping to stay on as GPRA Chair for another year and will work to support GPRA’s future growth and expansion with strong governance and leadership. Maintaining an effective two-way communication between GPRA and its Registrars to ensure that we remain a representative organisation will also be a key focus.

Belinda Guest Chair

The General Practice Students Network continues to strengthen with active GP Clubs now in all Universities around Australia. We are also pleased to have seen the launch of GP Compass, a similar initiative that will see promotion of General Practice in the “black hole” of the hospital system. GPRA produces useful and appealing General Practice Guides to complement such activities. Our guides are written by Registrars with the purpose of better informing students, pre-vocational doctors and Registrars about the experience of General Practice. Breathing NEWLIFE Conference This annual conference, held in Parliament House in March, was a resounding success. The conference brought together Presidents and Chairs from all leading General Practice Stakeholder groups, as well as Registrars Liaison Officers, Indigenous Registrars and General Practice Student Network Ambassadors from around the country. The major problems in General Practice training and education were addressed, as were the needs of Indigenous doctors. United General Practice Australia (UGPA) GPRA are proud to be a member of this important co-operative of General Practice Stakeholder Groups, which also includes the Royal Australian College of General Practitioners, the Australian Medical Association, Australian General Practice Network, the Rural Doctors Association of Australia and the Australian College of Rural and Remote Medicine. We have ensured that issues pertinent to medical students and Registrars remain firmly on UGPA’s agenda. For instance, GPRA have advocated that the proposed

05


CEO Report A strong emphasis on promoting General Practice as a specialty of choice, stakeholder relationships and vertical integration continue to be the guiding principles for GPRA in 2009. GPRA continues to grow rapidly as an organisation with significant additions to our portfolio as we launch new projects and cement existing ones. There has been a significant increase in core services to GPRA members with a strong vertical integration drive that has enhanced our relevance both within and outside the core Registrar market. Building on the success of the General Practice Student Network (GPSN), GPRA has recently secured additional funding through General Practice Education and Training (GPET) to launch a new initiative to promote General Practice to pre-vocational doctors using the peer-to-peer marketing strategy that underpins the GPSN. This financial year GPRA revenue crossed the $1million barrier for the first time in the organisation’s history. We are at a point where our services to members have surpassed historical benchmarks and we are increasingly looking at ways to further promote the profession with improved member services. Currently we are looking at ways to provide members with support and access to noncore services in the form of Education, Research, Scholarships, Professional and Personal Development resources. Some of our new initiatives have ignited renewed interest in GPRA activities from our membership, with an increase in enquiries and support of our actions as an organisation. In addition we have secured strong support from stakeholder organisations in our ventures to improve the profile of General Practice and to promote the profession as a specialty of choice amongst medical students and pre-vocational doctors. Significant achievements in the past 12 months include: New funding contract with the Department of Health and Ageing (DoHA GPRA continues to be an industry leader in many areas and has gained the respect and cooperation of a number of government departments. The year 2007 was to be the final year of government funding according to our initial contract. However, GPRA has successfully launched a number of new initiatives and projects that have been endorsed and supported by DoHA. This year, GPRA has negotiated a new core funding contract with the Department which secures base funding for GPRA to deliver these new initiatives until 2011. At a time of financial instability in many industries, this new contract provides a measure of security allowing us to continue to deliver high quality services to our members. GPRA’s strength continues to be in employing a grassroots, solution-focused approach that delivers measurable value to the Commonwealth.

06

The General Practice Student Network (GPSN) The GPSN is now in its second year of operation and has experienced dramatic growth. With a membership base of over 3,700 students and rapidly expanding, the GPSN is the fastest growing medical organization in the country. Under the guidance of a fantastic executive headed by final year student Ms Elina Gourlas, the GPSN has proven that there is no better way to promote General Practice to medical students. The GPSN now has a functional club with GP Student Ambassadors in each of the 20 medical universities across the country. The current funding contract for the GPSN ends on 31st December 2009, however early negotiations indicate that funding for this project will continue into the foreseeable future. GPSN Schwartz First Wave Scholarship Program A product designed by GPSN founding chair Dr Joe Rotella, this has been recognized as a fantastic program to provide early positive exposure to General Practice to first and second year medical students. The pilot program ran across 3 universities with 24 students participating in 2008-2009. This year the program is set to double in number and run across 14 universities. Strongly supported by GPET and Regional Training Providers (RTPs), this scholarship program offers a unique way to allow students to get a taste of what General Practice has to offer by placing them with enthusiastic GP Registrars who can act as mentors and role models. GP Compass GPRA and the GPSN are excited to propose a new initiative, “GP COMPASS”, which will bridge the gap between the university system and vocational training. GP COMPASS will replicate the GPSN peer-to-peer marketing strategy and provide targeted exposure to GP career options to pre-vocational doctors within the hospital system by establishing a national peer-supported structure. Funded by GPET, this program was launched by the Hon. Nicola Roxon MP, Minister for Health and Ageing, in March this year. Good relationships with stakeholders GPRA has continued to foster good relationships with all relevant stakeholders including RACGP, ACRRM, GPET, AMA, AMSA, the GPSN, AGPN, RDAA and the NGPSA. This is constantly reflected in the form of GPRA’s active representation on a number of committees and calls for us to comment and provide feedback on various topical issues. In some cases GPRA has assisted these organisations to help meet their objectives. At a regional level, GPRA continues to liaise closely with the RTPs and has regularly attended the RTP CEO meeting to build a closer relationship with them. The RTPs have been instrumental in assisting us with the successful implementation of the GPSN Schwartz First Wave Scholarship Program and GP Compass. Key position in United General Practice Australia (UGPA) GPRA is a full member of the newly formed UGPA – a peak body representing General Practice issues to the Federal Government and to the Minister’s office. A number of key policy changes have already been influenced by the active engagement from this group. GPRA’s involvement in UGPA ensures that General Practice Education and Training remain on the top of the health care reform agenda that is currently being progressed by the Federal Government. Some

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CEO Report

continued

early wins include an increase in the number of General Practice training places and the recent announcement for capital injection to support and enhance General Practice infrastructure. Increased market and media awareness GPRA has released multiple media releases in the last 12 months which have focused on a variety of areas. The Breathing NEWLIFE into General Practice Conference held at Parliament House, Canberra earlier this year provided widespread industry exposure and relevance. Supported by the Hon. Nicola Roxon MP, Minister for Health and Ageing, the Department of Health and Ageing and GPET, this conference continues to grow in popularity and is the only one of its kind to bring together Registrars and medical students with current industry leaders to discuss issues facing General Practice. GPRA also continues to receive an increasing number of queries from journalists and stakeholder organisations and is frequently invited to comment on issues. The Board and management have been featured regularly in the medical press and provide Registrar and student perspectives on a number of issues. Vertical integration across the GP training continuum GPRA recognises the importance of vertical integration and the need to increase our profile amongst doctors early on in their careers. The GPSN and GP Compass form the vital link with our future members and we are constantly providing new networking opportunities to bring Registrars, students and prevocational doctors together. Recent changes to our constitution ensure that both students and pre-vocational doctors can become GPRA members, and in future, be able to hold Board positions. GPRA will continue to develop a range of products and services that provide targeted resources across the training continuum and which deliver a vertically integrated approach in attracting and supporting the future GP workforce. Increased revenue streams including sponsorship GPRA has met its financial targets in the last 12 months with revenue generated from sponsorships, advertising and donations. This has largely been facilitated by a continued focus on delivering new projects that align with our core values and vision. However, GPRA still needs to substantially increase the current revenue streams to cement financial viability into the future. We have added new sponsors to our network and are working with a variety of organisations to provide enhanced services to GPRA members. Increased number of products and services for Registrars & students GPRA has been working hard to increase relevance across the industry and to launch new initiatives that will not only offer support to different stakeholders, but also introduce new revenue streams which will enable us to achieve financial independence; GPRA - OCHRE Recruitment partnership: GPRA has partnered with Ochre Recruitment to provide a targeted job placement service to Registrars post completion of training. Ochre Recruitment has embraced GPRA’s principles of providing a well rounded Registrar-centric service that offers a holistic placement service including assisting in negotiating contracts. We hope that this service relieves some of the uncertainty Registrars experience after completion of training. This service is free to Registrars.

08

GREYMATTER™: GREYMATTER is an online, open-access, repository of ‘grey literature’ in the primary health care sector. Grey literature comprises newsletters, reports, working papers, theses, government documents, fact sheets, conference proceedings and other documents that are free of charge but difficult to find. GREYMATTER allows users to share this grey literature within the sector allowing users instant access to the latest trends and data within the sector. www. greymatter.org.au RCUBED – Real Resilience Resources: RCUBED is about resilience - this means both bouncing back after being under inevitable demands and also implementing ways to reduce pressures. This website has been developed to assist GP Registrars, medical students and pre-vocational doctors by providing them with real strategies, such as time management, developing a strong sense of self and having sturdy support networks, to build resilience in busy times. This initiative is a direct response to feedback from GP Registrars and medical students about the pressure they are often under and the need to be able to manage this effectively and to stay well. www.rcubed.org.au GPRA - Healthed Partnership: GPRA has partnered with Healthed, provider of Australia’s most popular GP seminars. All GPRA members, including students, will be able to attend Healthed’s seminar series at a heavily discounted registration price. In addition, a number of free registrations are also being offered on a first-come-first-served basis to most seminars. These seminars are consistently reviewed as high quality and practically relevant to General Practice. They feature leading specialist experts who present independent and up-to-date information on topics selected by Australian GPs. Publications: At GPRA we have continued our focus on providing information across all continuums via our targeted publications. These publications form part of our strategy to increase the profile of the profession amongst hospital doctors and medical students and to thus achieve a presence at all levels across the industry. Futures Series: GPRA’s Future Series has been a popular event for the provision of non-clinical support for Registrars. This year’s event will run in conjunction with the Divisions’ Forum held by AGPN and will be held in the first week of November in Sydney. A complete revamp of the social and professional program ensures that the Future Series will become one of our most popular events in the future.

Practice Pages™: A fully functional online portal which allows GP practices to advertise GP job vacancies to Registrars. We are currently exploring opportunities to partner with other organisations to expand this resource. This resource remains free for members and non-members to access. Mentors Program™: The online platform for the new Mentors Program is in the process of being revamped and will soon have a new interactive format. The Mentors Program forms part of our support to GPSN members and we are currently looking at ways to enhance its delivery and uptake. Increased research focus GPRA completed a qualitative and quantitative research study on the pilot GPSN Schwartz First Wave Scholarship Program which showed a positive correlation between career choices and an early positive exposure to a specialty. In addition, separate surveys conducted by GPRA with Registrars and medical students have provided an overview of the attitudes of these groups and their experiences in training. GPRA aims to make these surveys an annual occurrence in order to allow us to measure changes in attitudes over time. Registrars, pre-vocational doctors and medical students represent the future of primary care in Australia. With a renewed focus on providing a sustainable primary care workforce for Australia, GPRA is positioning itself as a strong advocate for promoting General Practice as a specialty of choice. A firm commitment to taking a grassroots approach, staying solution-focused, enhancing services to Registrars, pre-vocational doctors and medical students and building stakeholder value, ensures that it will be an exciting year ahead. GPRA has a committed management team that facilitates the delivery of our products and services to our membership. GPRA’s continued growth and success is underpinned by the hard work of our staff and I would like to applaud their commitment and service to the organisation.

Amit Vohra CEO

Online Exam Resources (OER): The OER initiative is progressing and we are looking at additional exam related resources for our members. Soon to have a new interactive website with multiple exam-related resources, OER will expand in its focus in future months and will be available to different member segments. At present the resources are based around the RACGP clinical exam for GP Registrars, with over 40 clinical cases available for free to our members. Qantas Club Corporate Account: GPRA continues to provide access to the Qantas Club at reduced rates for GPRA members. The savings offered to Registrars by participating in this program as a GPRA member are in excess of $200 per annum. These rates are comparable to what is available to AMA/ RACGP members through their paid membership program.

09


Board of Directors

Staff Report

The period 2008-2009 has been a time of unprecedented growth for GPRA and our Board has continued to provide its strategic direction during this exciting phase under the leadership of Chair, Dr Belinda Guest.

Management staff Margo Field – Senior Manager GP Compass Margo has been with GPRA since the beginning of 2008. She works closely with Amit on special projects as well as managing the GPRA team. At the moment, she is heavily involved in setting up the GP Compass initiative.

New additions to the Board included Dr Jo Noble, Dr Jennifer Mooi and Dr Bennie Ng who brings a wealth of experience in the areas of strategic growth, business development and policy.

Kate Marie – Business Development Manager Kate Marie specialises in strategic marketing and publishing, both traditional and online, within the health and medical sectors. She has a strong background in sales and marketing and has been involved in several new GPRA initiatives as well as securing sponsorship partnerships.

The current Board of Directors includes: Dr Belinda Guest Dr Joseph Turner Dr Tim Francis Dr Bennie Ng Dr Jennifer Mooi Dr Manisha Fernando Dr Jo Noble

Connie Lambrou – Project Manager Connie manages the GPSN Schwartz First Wave Scholarship Program and also provides support to the GPRA Board. Connie enjoys doing policy work, writing and editing marketing communication materials and collating research reports. Janice Lim – Communications Officer Janice provides member services and implements sponsorship services. She is involved in co-ordinating GPRA events and meetings and organises for GPRA/GPSN to exhibit at conferences run by other health organisations throughout the year. Janice also provides support to the Board, RLO’s and senior management.

This year we also bid farewell to the following Directors: Dr Naomi Harris Dr Yi Lee Phang Dr Evan Grambas GPRA thanks them for their invaluable contribution and looks forward to welcoming a set of new Directors. The new Board for 2009-2010 will be announced after the GPRA AGM on 5th September 2009.

smooth running of all GPSN clubs and related projects and provide support to the GPSN clubs in each university. Laura also enjoys attending national events and conferences to promote General Practice to medical students and to encourage them to sign up as members. Rebecca Qi – Accounts Officer Rebecca handles all things related to accounts. She has a passion for number crunching and is currently undergoing her CPA. Rebecca also provides administrative support around the office. Kylie Flack – Website Administrator Kylie has recently started working part-time at GPRA as Website Administrator. She assists in the uploading of content and management of the RCUBED, GPSN, and GREYMATTER websites and provides support with eNewsletters, project work and other office needs. Joel Edwards – Web Developer Joel Edwards is the youngest staff member on the GPRA team. He is a web developer and is currently working on many exciting projects including upgrading the current GPSN and GPRA website to make it more user-friendly and to give it a new fresh look. In addition, he is also developing other new websites such as R CUBED, OER and GP Compass just to mention a few.

Laura Borelli – GPSN Project and Marketing Officer Laura provides administrative support to GPSN executive and local clubs in relation to GPSN initiatives. As the GPSN project officer, her role is to ensure

Dr Belinda Guest

Dr Joseph Turner

Dr Tim Francis

Dr Bennie Ng

Margo Field

Kate Marie

Connie Lambrou

Janice Lim

10

Dr Jennifer Mooi

Dr Manisha Fernando

Dr Jo Noble

Laura Borelli

Rebecca Qi

Kylie Flack

Joel Edwards


corporate governance Report

BOARD MEETINGS RECORD Date & Hours

Aug-08

Sep-08

Oct-08

Nov-08

Jan-09

Feb-09

Mar-09

Apr-09

Jun-09

F2F

TC

TC

TC

F2F

TC

F2F

TC

F2F

Type

As GPRA grows we are adopting best practice in terms of corporate governance and organisational management.

GPRA’s Corporate Governance Charter is the foundation for the corporate planning process.

This year the GPRA management team and Board have been working hard to create a robust Corporate Governance Charter that clearly defines the roles, responsibilities and authorities of the Board of Directors, both individually and collectively. Our new Charter also sets out the strategic direction, management and control of the organisation.

It provides an essential outline of the roles of the ultimate decision-makers in the organisation and details the decision-making process of the organisation. The Charter also outlines the expectations of the Board about critical policies such as risk management and the delegation of responsibility.

By instituting this Charter there are two primary benefits for GPRA. The first is the development of a top-level policy document that can: • Assist the Company’s leadership to deliver good governance; • Act as a point of reference; and • Act as an induction tool for new Directors and managers. The second key benefit of the Charter is that it affords the Board: • A forum to discuss some “not mentioned” issues that are often left unattended and could lead to conflict and poor corporate governance; • A team development technique for Board members; and • A starting point for strategic planning.

The following hierarchical chart illustrates the relationship between the Corporate Governance Charter and other key planning levels within GPRA. Whilst the Charter itself is still a work in progress, the structure has been created and GPRA are in the process of finalising its various components. The diagram below provides an overview of the contents of the Corporate Governance Charter document. With the institution of the Corporate Governance Charter, GPRA has created specific committees on the Board to look at different aspects of corporate governance including Audit, Finance, Succession Planning, Director and Senior Management Evaluation and Remuneration, Risk Management and Strategic Planning. An overview of the meetings held in the last financial year is provided on page 13.

% of Total

Belinda Guest

Y

Y

Y

Y

Y

Y

Y

Y

Y

100%

Tim Francis

Y

N

N

Y

Y

Y

Y

Y

Y

78%

Joseph Turner

Y

Y

N

N

Y

N

N

Y

Y

56%

Manisha Fernando

N

Y

Y

Y

N

Y

Y

Y

Y

78%

Joanne Noble

Y

Y

Y

Y

Y

Y

N

Y

Y

89%

Jennifer Mooi

Y

N

N

N

Y

Y

Y

Y

Y

67%

YI-Lee Phang

Y

Y

Y

Y

Y

Y

Y

N

N

78%

Audit & Finance Committee Date & Hours

Remuneration & Nominations Committee

Oct-08

Dec-08

Jan-09

Jun-09

Date & Hours

Type

TC

TC

F2F

F2F

Belinda Guest

n/a

n/a

n/a

Y

Tim Francis

Y

Y

Y

Y

Tim Francis

n/a

n/a

n/a

n/a

Joseph Turner

Y

Y

Y

Y

Joseph Turner

n/a

n/a

n/a

n/a

Manisha Fernando

n/a

n/a

n/a

Y

Manisha Fernando

n/a

n/a

n/a

n/a

Joanne Noble

n/a

n/a

n/a

Y

Joanne Noble

n/a

n/a

n/a

Y

Jennifer Mooi

n/a

n/a

n/a

Y

Jennifer Mooi

Y

Y

Y

Y

YI-Lee Phang

Y

Y

Y

n/a

YI-Lee Phang

Y

N

n/a

n/a

Type Belinda Guest

Oct-08

Apr-09

13-Jun-09

22-Jun-09

TC

TC

TC

TC

Y

Y

Y

Y

13


Nominations and remunerations committee report Nominations & Remunerations Report The Nominations & Remunerations (N&R) committee has had a fairly busy year. This was a new committee which was set up by the Board following the last AGM. We commenced activities by reviewing the terms of reference for this and other committees directed by the Board including that for the Finance and Risk & Audit committees.

As GPRA’s core funding for 2009-2010 had not been secured at that stage, it was decided that a phased approach to the new HR structure would be more appropriate, whereby the most essential staff positions would be filled first, with others to follow as funding became available. After the committee was satisfied with the proposed new HR structure, this was recommended to the Board for final approval.

The purpose of the N&R committee is to act on behalf of and provide recommendations to the Board on matters surrounding nomination and remuneration of the Board and the CEO.

The other major task for this committee was the review of the CEO’s contract and remuneration package. The CEO’s position description and contract was reviewed and updated to reflect the growth in business and expansion of HR structure of the organisation. The committee also reviewed the remuneration package for the CEO. An outline for formal performance appraisal and annual review for the CEO was also set up.

Some of the key areas of involvement identified for the N&R committee are: • Succession planning for the Board • Remuneration policies for the Board • Appointment, remuneration and performance review of CEO (and any other senior management) • Monitoring of GPRA representation on external committees • And any other areas of input as directed by the Board. One of the first tasks delegated to this committee by the Board was to review the HR structure of the organisation. The Board and management had identified that the levels of staffing up to 2008 had not been increased to match the growth of the business of the organisation in the previous 24 months. This was resulting in overloading of existing staff members, vulnerability of core projects and areas of business during periods of uncovered leave and an overall reduction in productivity and effectiveness of the organisation. Hence a new HR structure was proposed by the CEO, for review by the N&R committee. The committee reviewed this new proposed structure in detail, in accordance with the current and future business needs of the organisation. The committee also requested feedback from the Finance committee regarding the feasibility of the proposed HR structure according to GPRA’s funding streams.

14

The Directors had made a decision to change the composition of the Board to reflect the different groups that GPRA, as an organisation, encompasses. The N&R committee was tasked with confirming the details of such changes to be represented in the organisation’s constitution. The committee also reviewed and made recommendations for changes to remuneration for all Directors, which is reflected in the new Director’s Remuneration Policy document. Finally, the committee is aware of the upcoming turnover of Directors for late 2009, and has discussed measures to preserve retention of corporate knowledge and effective handover. The production of a Board Director’s Induction pack is hoped to help orientation of new Directors to the Board.

Director’s Declaration In the opinion of the directors of General Practice Registrars Australia Ltd (GPRA), (a) the financial statements, and the notes thereto, comply with accounting standards and the Corporations Law; (b) the financial statements and notes thereto give a true and fair view of the financial position as at 30 June 2009, and of the performance of the Company for the year ended 30 June 2009; and (c) in the opinion of the directors, at the date of this declaration, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. (d) the financial statements include a complete and accurate account of all income and expenses in relation to the GPSN and GP Compass projects which are identified within these statements. This statement has been made in accordance with a resolution of the directors.

Dr Belinda Guest Chair

Dr Jennifer Mooi Chair Nominations & Remunerations Committee

15


Finance Report Background GPRA was established as an independent body in 2001, in conjunction with the regionalisation of the GP training program, under a funding grant from the Department of Health and Ageing to provide ongoing support to GP Registrars. In 2004 GPRA moved to a step-down funding model with a view to gradually moving towards financial independence. Multiple funding arrangements have been used during this time including a core funding model, a project-based funding model as well as a hybrid of both of these. Over the past three years, GPRA has matured as an organisation and continues to meet and exceed organisational and government goals and objectives. In the 2008-2009 financial year, GPRA has successfully negotiated a new core funding contract with the Department of Health and Ageing to support GP Registrars during their training by offering targeted services. In line with our organisation’s vision, GPRA has identified numerous projects aimed at promoting General Practice as a specialty of choice that have attracted specific project-based funding. In addition to administering the General Practice Student Network (GPSN), we have recently secured initial funding to setup GP Compass – a program that is designed to replicate the GPSN peer-to-peer marketing strategy to promote General Practice to pre-vocational doctors. Both the GPSN and GP Compass are funded by General Practice Education and Training (GPET). GPRA has leveraged our networks and created substantial revenue streams from sponsorships and advertising. At present GPRA generates over $300,000 from corporate sponsorships, donations and advertising across a variety of new products that have been developed to support the sector.

• A Mentoring Program to link future entrants to Registrars in the training program • The General Practice Students Network (GPSN) to promote General Practice to students • GPSN Schwartz First Wave Scholarship Program to provide early exposure to General Practice • GP Compass to promote General Practice to pre-vocational doctors in the hospital system As a result of these initiatives GPRA has a significantly expanded budget for the coming years. At the same time we have found that our revenue generation via sponsorships and advertising has now reached a plateau. GPRA is currently working closely with the Department of Health and Ageing and GPET to innovate in the sector and deliver grassroots-driven solutions. The Year in Review The financial year 2008-09 produced a healthy financial performance. The annual income increased by 20% with the introduction of new projects and the net surplus was similar to that of the last financial year. GPRA remains in a very positive position with minimal liabilities and a strong net asset base which will allow for an expansion in staffing required to deliver the new projects. The comparison with previous years indicates that GPRA has steadily increased its revenue in the last few years which is indicative of new projects that GPRA is currently delivering. The strong growth is underpinned by a healthy asset base which puts the organisation in a strong financial position.

GPRA has a renewed focus in addressing GP workforce shortages and has been successful in launching a number of new initiatives in this direction. These include: • GP promotion publications targeting medical students and pre-vocational doctors FY 2008-09

FY 2007-08

FY 2006-07

FY 2005-06

FY 2004-05

Total Income

$1,181,251

$933,401

$535,578

$523,219

$331,692

Total Expense

$1,097,750

$848,446

$474,402

$383,950

$282,960

$83,500

$84,955

$61,300

$139,269

$48,732

as at 30/06/09

as at 30/06/08

as at 30/06/07

as at 30/06/06

as at 30/06/05

$609,110

$433,828

$347,029

$273,526

$79,704

Surplus

Current Assets Non-current Assets Total Assets

$

$4,311

$5,487

$4,058

$8,289

$609,110

$438,140

$352,516

$277,584

$87,993

Current Liabilities

$179,392

$91,923

$91,254

$81,430

$32,270

Net Assets

$429,717

$346,217

$261,262

$196,154

$55,723

16

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Finance Report

continued

Revenue Streams

Expenses

$15,252 $21,412 $25,000 $3,271 $12,836 $15,252 $2,400$21,412$3,300 $25,000 $3,271 $12,836 $3,300 $2,400 $59,480

$3,418 0% $25,431 2% $104,100 10%

$59,480 $249,211 $249,211

$537,262 49%

$427,539 39%

$480,000 $480,000 $234,091 $234,091 $75,000 $75,000

n BNL 2009 n Donation for Indigenous Kids Appeal n 2009 n BNL General Publications n Donation for Grants Indigenous Kids Appeal n Government – DoHA n Publications n General GPET Funding – GPSN n Government Grants n Interest Received – DoHA n GPET Funding – GPSN n Interest Received

18

n Donation n Expenses Reimbursed n n Donation General Sponsorships n Reimbursed n Expenses GPET Funding – GP Compass n General Sponsorships n GPSN First Wave Scholarships n FundingIncome – GP Compass n GPET Subscriptions n GPSN First Wave Scholarships n Subscriptions Income

GPRA’s Board and management are committed to ensuring the financial sustainability of GPRA, and our affiliates, into the foreseeable future. In order to ensure that GPRA continues to function as the primary organisation for medical students, pre-vocational doctors and GP Registrars on education, training and workforce issues, we need the continued support and involvement of our members. If you are interested in joining the GPRA Finance committee please contact us at chair@gpra.org.au

19


External Auditors report Scope The Financial Reports and Members’ Responsibility The financial reports presented for audit indicate the financial performance and financial position of the company for the year ended 30 June 2009. Our audit was based on the supporting data presented to us by the members of the company. The members of the company are responsible for preparing and maintaining adequate accounting records and internal controls that are designed to prevent fraud and error and for the accounting policies and accounting estimates inherent in the Financial Reports. The members have determined that the company is a non reporting entity and that the financial reports are therefore special purpose financial reports, which do not require the’ application of all accounting standards in Australia or other particular financial reporting requirements. The members have determined that the accounting policies used are consistent with the company’s financial reporting requirements and are appropriate to meet the needs of the users of these reports. No opinion is expressed as to whether the accounting policies used are appropriate to the needs of the users of the financial reports. Audit Approach We conducted an independent audit of the completed financial reports in order to express an opinion of them to the members of the company. Our audit was conducted in accordance with the Australian Auditing Standards to provide reasonable assurance as to whether the financial reports are free of material misstatement. The nature of an audit is influenced by factors such as the use of professional judgement, selective testing, the inherent limitations of internal control and the availability of persuasive rather than conclusive evidence. Therefore an audit cannot guarantee that all misstatements have been detected. We performed procedures to assess whether in all material respects the financial reports represent fairly, in compliance with Accounting Standards in Australia and other mandatory financial reporting requirements in Australia, a view which is consistent with our understanding of the company’s financial position and of it’s performance which is represented by the results of it’s operations.

financial reporting when determining the nature and extent of our procedures, our audit was not designed to provide assurance on internal controls. We performed procedures to assess whether the substance of business transactions were accurately reflected in the financial reports. These and our other procedures did not include consideration or judgement of the appropriateness or reasonableness of the business plans or strategies adopted by the members and management of the company. Independence We are independent of General Practice Registrars Australia Limited and have met the independence requirements of the applicable Australian Professional Ethical Pronouncements and the Corporations Act 2001. The audit opinion expressed in this independent audit report has been formed on the above basis. Audit Opinion In our opinion, the financial reports of General Practice Registrars Australia Ltd: a) give a true and fair view of the company’s financial position as at 30 June 2009 and ofit’s performance for the year which includes it’s surplus and cash flow for the respective period, b) comply with Australian Accounting Concepts and applicable Accounting Standards c) are in accordance with the Corporations Act 2001 and other mandatory professional reporting requirements.

Lyra Livich & Associates Toni Livich ANIA Lyra Livich & Associates 28 July 2009

We formed our opinion on the basis of these procedures, which included: • examining on a test basis, information to provide evidence, supporting the amounts and disclosures in the financial reports, • assessing the appropriateness of the accounting policies and disclosures used and the reasonableness of significant accounting estimates made by the company’s members. Whilst we considered the effectiveness of managements internal controls over

20

Partnerfellowcomrade associatecontemporary compeerpeerColleague


Financial statements Statment of cashflows - July 2008 through June 2009 Cash Flow from Operating Activities Net Income

$83,500.88

Accounts Receivable

$37,561.49

Computer Accum Dep'n

-$4,311.72

Trade Creditors Employee PAYG Payable

-$33,170.65 $3,841.00

GPRA Emplyee SGC Super Payable

$886.79

GPSN Emplyee SGC Super Payable

$3,011.50

GP Compass Employee SGC Super Payable Tax collected from Sales Tax paid on Purchases

$3,169.10 $81,978.47 -$55,861.46

GPRA Annual Leave Accrual Payable

$5,390.63

GPSN Annual Leave Accrual Payable

$6,333.15

GP Compass Annual Leave Accrual Payable

$7,133.40

GPRA Sick Leave Accrual Payable

$2,967.16

GPSN Sick Leave Accrual Payable

$2,469.32

GP Compass Sick Annual Leave Accrual Payable Retained Earnings Net Cash Flows from Operating Activities

$3,459.28 -$52,313.53 $96,044.81

Cash Flow from Investing Activities Net Cash Flows from Investing Activites

$0.00

Cash Flow from Financing Activities Net Cash Flows from Financing Activities Net Increase / Decrease for the period

reacharriverealiseearn accomplishcompletegain securewinacquireexecute

$0.00 $96,044.81

Cash at the Beginning of the period

$300,246.60

Cash at the End of the period

$396,291.41

23


Financial statements

continued

Balance Sheet ASSETS

Withholding Credits

Current Assets

Tax Paid on Purchases

Cash On Hand Macquarie - DGR Macquarie - Grant A/c

$14,031.98

Macquarie - Sponsorship A/c

$150,977.67

CBA - Membership A/c Booragoon

$12,479.96

AMEX Amit Vohra

-$1,154.23

GPRA Admin & Acc Officer eMerchants Expense Card GPRA Chair eMerchants Expense Card GPRA Mktng & Comm Officer eMerchants Expense Card

$110,391.84

Total Current Assets

$609,110.53

$161,092.74

Macquarie - Membership A/c

Emerchants Host Account

Fixed Assets Computer Computer at Cost Computer Accum Dep'n

$9,292.88

$18,484.67 -$18,484.67

Total Computer

$0.00

Total Fixed Assets

$0.00

$756.82 $145.40 $1,086.50

TOTAL ASSETS

$609,110.53

GPSN Monash eMerchants Expense Card

$159.69

GPSN Adelaide eMerchants Expense Card

$129.34

GPSN ANU eMerchants Expense Card

$465.65

GPSN Bond eMerchants Expense Card

$657.14

GPSN Chair eMerchants Expense Card

$1,037.60

GPRA Employee SGC Super Payable

$4,391.63

GPSN Deakin eMerchants Expense Card

$501.81

GPSN Employee SGC Super Payable

$5,414.84

GPSN Flinders eMerchants Expense Card

$1,385.43

GP Compass Employee SGC Super Payable

$3,169.10

GPSN Griffith eMerchants Expense Card

$2,580.16

GPRA Annual Leave Accrual Payable

$5,390.63

GPSN JCU eMerchants Expense Card

$1,251.66

GPSN Annual Leave Accrual Payable

$6,333.15

GP Compass Annual Leave Accrual Payable

$7,133.40

GPRA Sick Leave Accrual Payable

$2,967.16

GPSN Sickl Leave Accrual Payable

$2,469.32

GPSN Melbourne eMerchants Expense Card

$1,460.05

GPSN Newcastle eMerchants Expense Card

$1,966.55

GPSN Notre Dame eMerchants Expense Card

$1,038.56

GPSN Notre Dame Sydney eMerchants Expense Card

$1,386.93

GPSN NS eMerchants Expense Card

$106.12

GPSN NSW eMerchants Expense Card

$360.59

GPSN PM eMerchants Expense Card

$798.57

GPSN Publication Officer eMerchant Expense Card

$134.25

GPSN Sydney eMerchants Expense Card GPSN Tasmania eMerchants Expense Card GPSN UQ eMerchants Expense Card

LIABILITIES Current Liablilites Employee PAYG Payable

GP Compass Sick Leave Accrual Payable Tax Collected from Sales

$1,391.66

NET ASSETS

$429,717.90

$500.00 EQUITY

$1,000.00

GPSN WA eMerchants Expense Card

$458.85

Retained Earnings

Accounts Receivable

$179,392.63 $179,392.63

Current Earnings (My Profit)

Total Cash On Hand

$3,459.28 $128,422.04

Total Current Liabilities

$469.81

GPSN WSyd eMerchants Expense Card

$10,242.08

TOTAL LIABILITIES

GPSN Vice Chair eMerchants Expense Card GPSN Wollongong eMerchants Expense Card

24

$26,017.10

$110,391.84

Total Withholding Credits

TOTAL EQUITY

$871.88

$83,500.88 $346,217.02 $429,717.90

$1,452.29 $396,291.41

Profit & Loss = Assets - Liabilities

$102,427.28

Please note that this report shows amounts excluding tax.

25


Financial statements

continued

Profit & Loss Statement - July 2008 through June 2009 GPRA Office Maintenance

$18,102.90

BNL 2009

$21,411.91

GPRA Publications

$25,874.16

Donation

$25,000.00

GPRA Rajakumar Movement

INCOME

Donation for Indigenous Kids Appeal

GPRA Rcubed

$3,270.90

Expenses Reimbursed

$15,251.62

GPRA Salaries & Wages

General Publications

$59,480.00

GPRA SGC Super

$181,280.45 $15,579.08 $68,070.89

General Sponsorships

$249,210.91

GPRA Sponsorship Relations

Government Grants – DoHA

$234,090.91

GPRA Staff Amenities

$1,602.37

GPRA Staff Travel, Accommodation & Others

$4,707.57

GPRA Stakeholder Relations

$6,669.34

GPET Funding – GP Compass GPET Funding – GPSN GPSN First Wave Scholarships Interest Received Subscriptions Income

$75,000.00 $480,000.00

Total GPRA Expenses

$2,400.00

GPSN General Expenses

$3,300.00 $1,181,251.84

 Cost of Sales

$0.00

GROSS PROFIT 

$1,181,251.84

 EXPENSE Board(BD) BD - Administration & Supplies

$2,280.03

BD - Chair Travel, Accommodation & Others

$5,276.45

BD - Professional Development

$7,423.00

BD - Travel & Accommodation

$10,451.64

Total Board Costs (BD)

GPSN Accounting

$3,738.05

GPSN Adelaide Expenses

$6,513.55

GPSN ANU GPSN BNL Canberra 09

$5,163.77

GPSN Canberra Summit 08

$3,277.64

GPSN Council Meetings

$17,800.61

GPSN Deakin University

$1,128.62

GPSN Depreciation Expense

$4,311.72

GPSN First Wave GPSN Flinders University GPSN Griffith Expenses GPSN ICT

GPRA Accounting

$3,053.71

GPSN Insurance

GPRA AGM

$7,361.63

GPSN James Cook University

GPRA Canberra Summit 08 GPRA Future Series GPRA Greymatter GPRA ICT

$33,639.99 $2,185.09 $24,064.14

$203.81 $65,006.50

GPSN Bond

GPSN Executive Travel, Accommodation & Others $25,431.12

GPRA Expenses

GPRA BNL Canberra 09

$427,539.24

$12,835.59

Total Income

GPSN Marketing GPSN Merchant Fees GPSN Monash Expenses

$4,915.12 $54,356.88 $947.57 $912.97 $23,024.69 $2,198.56 $3,051.06 $12,839.32 $366.32 $2,316.73

$2,992.78

GPSN National External Events

$15,804.59

$13,544.20

GPSN Notre Dame Expenses

$4,776.39

GPRA Insurance

$2,198.55

GPSN Notre Dame Sydney

$2,897.59

GPRA Indigenous Health

$2,428.63

GPSN Office Maintenance

$19,885.82

GPRA Merchant Fees

$1,308.04

GPSN Professional Services/Consulting

GPRA National External Events

$9,043.85

GPSN Publications

GPRA OCHRE GPRA OER

26

$145.00 $2,909.83

$77.04 $700.00

GPSN Salaries & Wages GPSN SGC Super

$9,712.50 $14,112.17 $174,246.91 $15,050.19

27


Financial statements

continued

Profit & Loss Statement - July 2008 through June 2009 GPSN Sponsorship Relations

$32,570.38

GPSN Staff Amenities

$1,796.37

GPSN Staff Travel, Accmmodation & Others

$5,317.57

GPSN Stakeholder Relations

$4,130.80

GPSN Tasmania Expenses GPSN University of Melbourne

$458.50 $862.18

GPSN University of New South Wales

$2,619.52

GPSN University of Newcastle

$1,996.97

GPSN University of Sydney

$2,524.71

GPSN UQ

$3,380.84

GPSN UWA

$6,839.71

GPSN Western Sydney GPSN Wollongong

$310.87 $5,894.06

Total GPSN Expenses

$537,262.13

GP Compass Expenses GP Compass Accounting

$351.29

GP Compass Consulting

$2,000.00

GP Compass Design and Artwork

$836.50

GP Compass ICT

$1,954.88

GP Compass National External Events

$1,828.92

GP Compass Office Maintenance

$3,402.09

GP Compass Publications

$22,658.59

GP Compass Salaries & Wages

$48,246.64

GP Compass SGC Super

$3,591.06

GP Compass Sponsorship Relations

$6,602.42

GP Compass Staff Amenities GP Compass Staff Travel, Accommodation & Others GP Compass Stakeholder Relations

$113.94 $2,362.79 $10,150.95

Total GP Compass Expenses Indigenous Kids Program

$104,100.07 $3,418.40

Total Expenses for Indigenous Kids Program

$3,418.40

TOTAL EXPENSES

$1,097,750.96

OPERATING PROFIT

progressleadproceed forwardadvanceahead developshiftstirheadway

$83,500.88

Other Income

$0.00

$0.00

Other Expenses

$0.00

$0.00

NET SURPLUS/(DEFICIT)

$83,500.88

29


Notes to the Financial Statements For the year ended 30 June 2009 Overview GPRA is a not-for-profit organisation with all funds directed towards the achievement of our objectives as laid out in the company’s constitution. Significant changes in state of affairs There were no significant changes in the state of affairs of the company that occurred during the financial year that are not otherwise disclosed in this report or in the financial statements. Performance in relation to environmental regulation There was no environmental legislation applicable to the operations of the company which has not been complied with. Likely developments and future results The company anticipates that it will maintain a positive financial position in 2009/2010. The company is continually updating, reviewing and improving its management and governance practices to ensure that the objectives of the company and its Directors are met. With the inclusion of new projects there is significant scope for growth in the next financial year. Dividends The company is a not-for-profit organisation limited by guarantee and it’s constitution precludes the payment of dividends. Events subsequent to balance date No circumstances have arisen since the end of the year which have significantly affected or may significantly affect the operations, the results of those operations or the state of affairs of the company in future financial years. Principal activities The principal activities of GPRA through the year were aimed at supporting its members and promoting high standards of care in General Practice for the benefit of the community. This was done through promoting General Practice across all continuums in line with the company’s constitution. Specifically, the two main projects, the GPSN and GP Compass, are directly aimed at promoting General Practice as a preferred career choice to medical students and prevocational doctors. A copy of the constitution is available from our website at www.gpra.org.au Indemnification of Directors and officers During the financial year, the company paid a premium in respect of a contract insuring the Directors of the company, the company secretary and all executive officers of the company and any related body corporate against a liability incurred as such a Director, secretary or executive officer to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits the disclosure of the nature of the liability and the amount of the premium.

30

Proceedings on behalf of the company No person has applied to the Court under section 237 of the Corporation’s Act 2001 for leave to bring proceedings on behalf of the company, or to intervene in any proceedings to which the company is a party, for the purpose of taking responsibility on behalf of the company for all or part of those proceedings. No proceedings have been brought or intervened in on behalf of the company with leave of the Court under section 237 of the Corporations Act 2001.

Significant accounting judgements, estimates and assumptions The Directors evaluate estimates and judgements included in the financial report based on the best available historic and current information. Estimates and accounting assumptions assume a reasonable understanding of future events based on current trends and economic data. There have been no significant judgements, estimates or assumptions applied in the preparation of these financial statements except where otherwise stated.

Summary of significant accounting policies General Practice Registrars Australia Ltd. (GPRA) is a public company limited by guarantee and incorporated under the Corporation’s Act 2001. No shares have been issued. The limit of liability of each individual member is limited to $10. The Company is a not-for-profit charitable organisation. The objects for which the Company is established are:

Changes in accounting policies The accounting policies adopted in the preparation of this report are consistent with the previous year except where otherwise stated. A specific restructure of certain projects has been included in compliance with contractual arrangements in relation to the delivery of these projects. As such income and expenses related to these projects is now recorded separately in our accounts.

1.Promoting the prevention or the control of diseases in human beings; 2.Improving the healthcare of all Australians through excellence in education such as conducting workshops to promote professional development; 3.Promoting the profession of General Practice in Australia; 4.Recognising and supporting the needs of General Practice Registrars in Australia; and 5.To do all such other things as are incidental or conducive to the attainment of the above objects. Income tax GPRA is endorsed as a Health Promotion Charity, and accesses the following tax concessions: Tax Concessions

From

GST Concession

1 July 2005

FBT Exemption

1 July 2005

Income Tax Exemption

23 February 2004

Deductible Gift Recipient

1 July 2005

Statement of compliance The finance report is a general purpose financial report which has been prepared in accordance with the Corporation’s Act 2001 and Australian Accounting Standards. Australian Accounting Standards require a statement of compliance with International Financial Reporting Standards (IFRSs) to be made where the financial report complies with these standards. Some Australian equivalents to IFRSs and other Australian Accounting Standards contain requirements specific to not-for-profit entities that are inconsistent with IFRS requirements. GPRA is not-for-profit and has applied these requirements, so while this financial report complies with Australian Accounting Standards including Australian Equivalents to International Financial Reporting Standards (AEIFRSs) it cannot make this statement. Basis of preparation The financial report has been prepared on the basis of historical cost. GPRA does not have any significant fixed assets to impact on the accounting reports. The accounting policies set out below have been applied in preparing the financial statements for the year ended 30 June 2009.

Goods and services tax Revenues from ordinary activities, expenses from ordinary activities and assets are recognised net of the amount of Goods and Services Tax (GST), except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO). In these circumstances the GST is recognised as part of the cost of acquisition of the asset or part of the item of the expenses from ordinary activities. Basis of Preparation of the Financial Statements The statements have been prepared using the cash basis for accounting. Given the volume of transactions it has been determined that using the cash basis does not alter the true picture of the accounts presented. 1.1Current Assets 1.1.1 Cash On Hand Cash and cash equivalents comprise cash at bank and in hand, stated at nominal value. Individual expense cards for student clubs represent unspent cash available to individual clubs and have been included under current assets.

1.4 Fixed Assets GPRA does not own any fixed assets in relation to land and buildings. Fixed assets typically comprise of office equipment, computers and furniture. Depreciation is provided on a straight line basis. 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 remaining value of the asset. As can be seen a number of these have been depreciated to zero in the current financial year and will be removed from future statements. 1.5 Non Current Assets GPRA does not recognise any good will or any other forms of intangibles in the organisation’s accounting policies. 1.6 Current & Non Current Liabilities Current liabilities represent trade creditors, superannuation payments and GST collected. GPRA does not have any borrowings or any other non-current liabilities. 1.7 Income & Profit The income includes revenue generated from operating activities, including sponsorship and advertising and specific project funding received from the Department of Health and Ageing and General Practice Education and Training (GPET). Cash flows from operating activities capture all types of income including special project funding. 1.8 Expenses Expenses have been split as per cost centre. Special provisions have been made to separate the GPSN and GP Compass-related expenses in line with contract reporting requirements with GPET. All income and expenses related to the GPSN project have been recorded separately. 1.9 Leases Operating lease payments are expensed in the income statement as incurred.

1.1.2 Accounts Receivable & Withholding Credits Account receivables are recognised and carried at original invoice. No allowance has been made for doubtful debts since at the time of preparation of this report there was no reason to doubt successful recovery of these funds. Net amount of GST recoverable is included under withholding credits. 1.2 Impairment of Assets Assets are mainly cash or cash equivalents and are not liable for impairment. 1.3 Depreciation Depreciation is calculated on a straight line basis so as to write off the net cost of each item of property, plant and equipment over its expected useful life. Computer equipment and furniture has already been depreciated and is no longer recognised as an asset.

31


GPR A/09 Annual Report General Practice Registrars Australia 1300 131 198 enquiries@gpra.org.au www.gpra.org.au


Annual Report 2009