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ANNUAL REPORT 2008 - 2009 ISSN 1837-252X


Disclaimer The materials presented on this site are provided by the Queensland Government for information purposes only. Users should note that the electronic versions of financial statements on this site are not recognised as the official or authorised version. The electronic versions are provided solely on the basis that users will take responsibility for verifying their accuracy, completeness and currency. Although considerable resources are used to prepare and maintain the electronic versions, the Queensland Government accepts no liability for any loss of damage that may be incurred by any person acting in reliance on the electronic versions. Matters relating to the electronic presentation of the audited Financial Report The audit report relates to the financial report of Ipswich Hospital Foundation for the financial year ended 30 June 2009 included on Ipswich Hospital Foundation’s web site. The accountable officer / statutory body is responsible for the integrity of the Ipswich Hospital Foundation’s website. The audit report refers only to the statements named below. It does not provide an opinion on any other information which may have been hyperlinked to/from these statements. If users of the financial report are concerned with the inherent risks arising from electronic data communications they are advised to refer to the hard copy of the audited financial report, available from Ipswich Hospital Foundation, to confirm the information included in the audited financial report presented on this website.


Chairperson’s Report By Mr. Robert Walker Members of the Ipswich Hospital Foundation for the year 2008-2009 During the year six meetings of the Ipswich Hospital Foundation were held.

Number Eligible Number Attended to Attend

Name

Becoming the Healthiest Community in Australia- is this an impossible dream or an achievable reality. Perhaps this vision of the Ipswich Hospital Foundation is both an impossible dream and an achievable reality. It is an impossible dream as even defining what constitutes the healthiest community is evasive. It is an achievable reality as the whole of Ipswich is a regional finalist in the State's Healthy Queensland Awards community category (this is a joint submission with the Ipswich City Council) and SNAP (Screening Nutrition Activity Program) representing participating businesses in the region is a regional finalist for the same awards in the workplace category. We can all continue to bring us closer to the reality of Becoming the Healthiest Community in Australia by contributing to improving our own individual health and with others create an environment that places the community's health in the forefront. This annual report highlights the activities the Ipswich Hospital Foundation, its numerous supporters and partners have done this past year. It truly is amazing what we have accomplished and on behalf of the Ipswich Hospital Foundation I wish to express thanks and true admiration for the time, the financial support, and the energy you have given. In particular I would like to thank the Ipswich Hospital Foundation members who serve the community by their active, voluntary involvement commitment throughout the year Cr Cheryl Bromage, Associate Professor Mark Brown, Paul Casos, Anne-Maree Edwards, Neil Harding, Pam Lane , Dr Bob McGregor, and Jan Wilton. I also would like to welcome Cheryl Kermond who joined us this year. Our strong team of employees and volunteers right across the board, from Tom Yates, our Executive Officer, including all our administrative staff, program leaders and our car park customer service team have played a tremendous part in reaching the position we are in today and we owe them all a sincere thanks. We will continue to strive to make this community the healthiest community in Australia and I believe we can. Let's Go 4 It. Robert Walker

Chairperson

6

4

N. Harding

6

6

C.Kermond

1

1

R. McGregor

6

6

P. Lane J. Wilton

6 6

5 5

M. Brown P. Casos

6 6

5 4

AM. Edwards

6

4

C. Bromage

6

6

All terms expire 11 September 2010

Chairperson’s Report

CONTENTS

Photo: Healthy Community Research Centre Opening 2008. Robert Walker and IHF Executive Officer Tom Yates

R.Walker

2-3

Becoming the Healthiest Community in Australia

4

Supporting the Community

7

What it takes to Become the Healthiest Community

8-10

Individual Responsibility Community Development 2010 Calendar

Financial Report for the year ended 30 June 2009

8 9 10 11-28

Glossary

29

PO Box 878 Ipswich QLD 4305 P: (07) 3817 2318 F: (07) 3812 7500 E: info@ihfoundation.org.au www.ihfoundation.org.au © State of Queensland (Ipswich Hospital Foundation) 2009

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To ensure the Ipswich Hospital Foundation reaches this goal, programs and events such as our daily fitness activities, the SNAP Program, the Healthy4Life Resource Centre, the Ipswich Healthy4Life social website, annual healthy events and health ambassadors have been developed to keep in touch with the community and their health. In the past year, we have improved existing programs, expanded on our resources and introduced new and exciting opportunities that promote Ipswich Becoming the Healthiest Community in Australia. Daily fitness activities, provided free of charge to the community by the Foundation, have proven to be popular with an average of over 200 people attending per week. A variety of activities such as running, walking, yoga and cross training attracts community members and the friendly nature of the fitness activities keeps them coming back. Another popular program provided free of charge is the SNAP Program (Screening, Nutrition, Activity Program). SNAP currently has more than 4000 participants from across 100 businesses snapping their way to a healthier lifestyle. Individual and confidential SNAP screenings are performed at a business during business hours by a registered nurse. At these screenings, participants have their blood pressure, blood cholesterol, blood glucose, weight, waist, height and BMI measurements taken and recorded to assist them to understand their personal health and work towards ways to improve it. SNAP has been running for four years now, and has recently been selected as a regional finalist, in the business category, for the Healthy Queensland Awards. This comes as much deserved recognition of the program as it continually expands to impact positively on more lives. The Healthy4Life Resource Centre also impacts on the community as it provides event equipment to local community groups and schools at no cost, in order to increase the number of healthy events held in our community. The Resource Centre currently holds items such as marquees, sun trailers, sun screen, director chairs, blankets, blow up archways and electrical equipment just to name a few. The Resource Centre will continually expand to provide more event equipment to

4

more community groups and schools. Groups that borrow from the resource centre are asked to sign up for and post their event on Ipswich Healthy4Life (ipswichhealthy4life.com.au). This is a new web initiative of the Ipswich Hospital Foundation in conjunction with West Moreton Population Health and Ipswich City Council, aimed at providing the Ipswich community with the most up to date information on events in and around the city. The site also boasts current health information, including dietary and physical guidelines, first aid advice and fitness activities as well as an interactive platform in which members to the site can discuss health, fitness and well being topics. An increasing number of registered members to the site is a positive sign of the impact this website can potentially have on the community. Additional websites that the Foundation develops and maintains are those for annual events. This is done through a New Zealand based company, Event Director, which also provides event registration and event timing. As the Ipswich Hospital Foundation is involved in more healthy events than ever, this has proven to be an invaluable resource. The success of each event is evident through increased website traffic as well as higher participation rates. Healthy events this year included the Ipswich 100, Park2Park Challenge, One Mile Gift and the Rail Trail Fun Run. A strong following of health ambassadors also increase event participation as well as donations to the Foundation. With increasing participant numbers in our annual healthy events and daily fitness activities, it is clear to see that we are having an impact on the Ipswich community. The Ipswich Hospital Foundation wishes to continue to develop these programs to benefit the Ipswich Community and individuals’ personal health.

The Ipswich Hospital Foundation is focussed on Becoming the Healthiest Community in Australia.

Park2Park is such a great fun and healthy event for a very good cause… I wish all the runs were as good as the Park2Park! It is truly something Ipswich should be proud of.

Image on opposite page: Photo taken by Casey Mayne 2009 Park2Park Challenge 10KM Event Ryan Zielke & Julia Hatch pictured


In order to achieve the goal of Becoming the Healthiest Community in Australia, the Ipswich Hospital Foundation needs to work to develop a health culture in the community that removes barriers, increases access and provides quality health access. This is currently being achieved through the partnership with the Healthy Communities Research Centre, our ongoing grants program, patient amenities, the Sunshine Circle, Healthy Partners and the Healthy4Life Website. The Ipswich Hospital Foundation is a major partner of the Healthy Communities Research Centre, in the Faculty of Health Sciences at The University of Queensland. The Foundation has provided funds over a 5 year period and is a key supporter of the development of The Ipswich Study in the Ipswich region. The Healthy Communities Research Centre works successfully with a wide range of health related organisations, as well as business and nongovernment organisations. They continue to establish the practical links they need to run applied research in the Ipswich and West Moreton region. Our experience of working with the Healthy Communities Research Centre has been professionally rewarding, positive and encouraging. Also encouraging is the growing popularity of the Grants Program. Health and Medical Professionals dedicate their lives to improving the health of the sick and ill in the community. The Ipswich Hospital Foundation runs a comprehensive competitive grant program, driven by these professionals, which has returned over $3 million dollars improving the health of the community in quite significant ways.

We are very proud to be a part of the Ipswich Hospital Foundation by offering support of the largest and most prestigious scholarship awarded by IHF... the money raised is going to such deserving causes, particularly James Kesby’s studies into the neurobiology of schizophrenia.

Image on opposite page: 2009 ARAFMI Sunshine Coast visit to Queensland Brain Institute, St Lucia

The Hospital Foundation also contributes to support the ARAFMI Scholarship, the most prestigious scholarship available from the Foundation, and for the past four years has been awarded to James Kesby to continue his research into the neurobiology of schizophrenia. In addition to supporting medical professionals, the Foundation ensures that patient amenities are current and up to date. This includes magazines being distributed amongst waiting rooms as well as improving the state of waiting rooms. One of the most beneficial amenities has been the Wig Library. The Library allows cancer patients to borrow a wig for a period of time until they no longer feel they require the wig. It is then returned to the Foundation. This has proven to be a life changing program for those who are involved. The Hospital Foundation maintains healthy partnerships with ambassadors and partners such as Ipswich City Council, the University of Queensland - Ipswich, Ultimate Fitness, Somerset Regional Council, Hospital Auxiliaries, Gale Force Running Squad, Ipswich Athletics, just to name a few. These partnerships allow us to expand our programs and ideas. This is particularly the case with the Ipswich Healthy4Life website. The Website supports organisations, such as the ones listed above, and provides them with a platform to reach out to the community in a health related format. Also reaching out to the community is the Sunshine Circle. The Sunshine Circle aims to raise funds to improve the quality of the Ipswich Hospital’s Sunshine Ward, and ultimately to brighten the lives of the children that stay for periods of time in hospital. A number of regular fund raisers hold functions and raffles all year round to raise vital funds for medical equipment. In the past year, the Sunshine Ward has purchased Paediatric Cots & Accessories as well as a Vital Signs Monitor. A mural at the Sunshine Ward was also painted and laptop software upgraded. A children’s TV was installed at the Ipswich Hospital Emergency Department and outdoor chairs were purchased for supervising parents in the Sunshine Ward. The Sunshine Circle Appeal is held in November and December. A number of fundraising events occur during these two months, including the CIB Businessman’s function which last year raised $23,000 for the Sunshine Ward at the Ipswich Hospital.

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What does it take to Become the Healthiest Community in Australia?

Individual Responsibility Individuals assume responsibility for those aspects of their own health care that they control and direct.

AMBASSADORS ?

Ambassadors for the Foundation are fund raisers, volunteers and partners. All their time and effort goes in to improving the services of the Foundation through donations and assisting whenever possible ? Individuals and groups hold regular fund raising events for the Sunshine Circle such as raffles ? An annual Happy Wanderers bus trip helps raise funds for the Sunshine Circle. Last year $8000 was raised.

HEALTHY4LIFE ?

? ? ? ? ?

Ipswich Healthy4Life is an interactive social networking website that promotes health and well being Boasts current health information Events Calendar Membership to the site is free Over 100 people registered as a member on the site Ipswich Healthy4Life has had close to 1000 hits, with 65% of them being direct traffic

RESOURCES ?

The Healthy4Life Resource Centre provides event equipment which reduces costs for community groups to hold healthy events ? Items available include sun shade marquees, sun trailers, director chairs, blankets, blow up archway, course marking cones and tables just to name a few ? Resources are lent out to the community free of charge ? The Foundation hopes to expand the Resource Centre to cater for all healthy event needs

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EVENTS ?

Annual events have increased in participation rates for 2008 - 2009 ? Park2Park - 1305 participants www.park2park.com.au

?

Ipswich 100 - 961 participants www.ipswich100.com.au

?

One Mile Gift - largest prize pool for a gift in Queensland as well as the only gift in Queensland where betting is allowed www.ipswichonemilegift.com.au

? ? ? ?

Brisbane 2 Ipswich Bike Ride Tuffkidz - mini triathlon for children Healthy4Life Golf - over 100 participants Fit Flicks - over 4000 people attended over the season ? Ipswich - Marburg Walkathon - 30KM - 50 participants

SNAP ? ? ?

Currently over 4000 participants Over 100 businesses involved The SNAP Program is a regional finalist in the business category of the Healthy Queensland Awards ? Healthy Communities Research Centre is currently producing report cards for larger businesses

FIT 4 LIFE ? ?

At least one session every day of the week Six sessions are under the instruction of a qualified trainer ? Over 200 people attend the sessions per week ? Various sessions including walking, running, yoga, cross training and balance ? Physical activity, better nutrition, positive mental health all addressed under Fit 4 Life


What does it take to Become the Healthiest Community in Australia?

Community Development The community develops a capacity for health culture that removes barriers, is sustainable, increases access and provides quality service.

GRANTS ?

$606, 000 awarded in grants and health initiatives ? The Foundation assists with conference hosting such as Mental Health Team Leaders Forum, Social Work Day and Working with Men ? $54, 720 awarded in scholarships including the ARAFMI Sunshine Coast PhD Mental Health Scholarship

RESEARCH ?

Healthy Communities Research Centre jointly funded by Ipswich Hospital Foundation and UQ Faculty of Health Sciences ? The current Director and Research Chair of the Healthy Communities Research Centre is Prof Robert Bush ? The Centre analyses the SNAP data that is collected from screenings, and for larger businesses produces report cards of the health of the business

AMENITIES ?

The Wig Library, with the support of the local Cancer Support Group, works to provide cancer patients with small comforts in their time of need ? The Hospital Foundation also works to provide presentable waiting areas in the hospitals as well as up to date magazines for waiting patients ? Social Support for consumers at holiday times

SUNSHINE CIRCLE ? ?

Sunshine Children’s Ward A cuddle cushion group makes cushions all year round to give to sick children in hospital ? Ambassadors help to raise money all year round for the Sunshine Children’s Ward through various raffles and events ? Other children’s health services in the community are supported at the Sunshine Circle ? CIB hold an annual fund raising function which this year raised $23,000

PARTNERS ?

Healthy Partnerships allow the Foundation to continue and expand new and existing programs ? Partners include local councils, hospital auxiliaries and education institutions (Universities, Tertiary and Secondary, Primary) ? Individuals serving as ambassadors partner with the Foundation to raise funds and help us reach our goals

HEALTHY4LIFE ?

Ipswich Healthy4Life aims to support community organisations and sporting clubs by creating and maintaining a club directory with a personal page for each group ? The Healthy4Life events calendar supports community, sporting and school group events. Before a group can publish an event on the website, they must become a registered member

Go

4

it!

ipswich healthy4life

9


What does it take to Become the Healthiest Community in Australia? In order to continue towards our goal of Becoming the Healthiest Community in Australia, we have the following healthy events scheduled for 2010.

JANUARY

FEBRUARY IHF Welcomes the New Fitness Year!

MARCH

-Fitness Activities Commence -Movies in the Park

APRIL -Movies in the Park -Tuffkidz -Ipswich Golf 4 Health -Ipswich 100

MAY

“(The Foundation’s activities) made me feel like part of the community.”

JUNE -Happy Wanderers

-Gatton Grunt

-One Mile Gift Raceday

-Boonah Blitz

JULY

AUGUST “The more you do, the more you can do! I'm feeling healthier and stronger.”

-Rail Trail Fun Run -Park2Park Fun Run

SEPTEMBER

OCTOBER -Movies in the Park

-Hip Hop Challenge

NOVEMBER

DECEMBER -Sunshine Circle Appeal Launch -Ipswich Marburg Walkathon

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-Sunshine Circle Appeal


IPSWICH HOSPITAL FOUNDATION

FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2009

Table of Contents Committee's Report Financial Report Income Statement Balance Sheet Statement of Changes in Equity Cash Flow Statement Notes to the Financial Statements Certificate of Ipswich Hospital Foundation Independent Audit Report

12 13 14 15 16 17-25 26 27-28

11


Committee's Report Your committee members submit the financial report of the Ipswich Hospital Foundation for the financial year ended 30 June 2009. Committee Members The names of the committee members throughout the financial year and at the date of this report are: R. Walker J. Wilton C. Bromage P. Casos N. Harding P. Lane

R. McGregor A. Edwards M. Brown C. Kermond (Appointed ) R. Chandler (Secretary only)

Principal Activities The principal activity of the foundation during the financial year was providing funding and resources for the support of the West Moreton District Health Services. No significant change in the nature of these activities occurred during the year. Significant Changes No significant change in the nature of these activities occurred during the year. Operating Result The surplus/(deficit) from ordinary activities after providing income tax amounted to $(28,916) {2008: $134,955}. After Balance Date Events No matters or circumstances have arisen since the end of the financial year that significantly affected or may significantly affect the operations of the foundation, the results of those operations, or the state of affairs of the Foundation in future financial years. Signed in accordance with a resolution of the Members of the Committee:

Rob Walker - Chairman

Ray Chandler - Secretary Dated this 22nd day of August, 2009

12


The accompanying notes form part of these financial statements.

13


14

The accompanying notes form part of these financial statements.


The accompanying notes form part of these financial statements.

15


16

The accompanying notes form part of these financial statements.


OBJECTIVES and PRINCIPAL ACTIVITIES OF THE FOUNDATION The objective of the Ipswich Hospital Foundation is to provide funding and resources for the support of the West Moreton District Health Services. It is also conducts community activities to encourage a healthier lifestyle and a fitter community. Funding of the Foundation is through the operation of car parks and from donations, bequeaths and gifts from the community. NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES This financial report is a general purpose financial report that has been prepared and presented in accordance with Australian Accounting Standards. In addition, the financial report complies with the Treasurer's Minimum Reporting Requirements for the year ended 30 June 2009, and other authoritative pronouncements. The financial report is for the entity Ipswich Hospital Foundation as an individual entity, incorporated and domiciled in Australia. Ipswich Hospital Foundation is a body corporate incorporated under the Hospitals Foundations Act 1982. The following is a summary of the material accounting policies adopted by the Ipswich Hospital Foundation in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated. Basis of Preparation The financial report has been prepared on an accrual basis and is based on historical costs. It does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in exchange for assets. (a) Income Tax No provision for income tax has been raised as the Foundation is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997. (b) Property, Plant and Equipment Each class of property plant and equipment is carried at cost or fair value less, where applicable, any accumulated depreciation and impairment losses. Plant and Equipment Plant and equipment are measured on the cost basis less depreciation and impairment losses. The carrying amount of plant and equipment is reviewed annually by the members of the committee to ensure it is not in excess of the recoverable amount of those assets. The recoverable amount is assessed on the basis of the expected net cash flows which will be received from the assets' employment and subsequent disposal. The expected net cash flows have not been discounted to their present values in determining recoverable amounts. Plant and equipment that has been contributed at no cost or for a nominal cost are valued at fair value at the date of acquisition. Depreciation The depreciable amount of all fixed assets are depreciated over the useful lives of the assets to the Foundation commencing from the time the asset was held ready for use. Leasehold improvements are amortised over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.

The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset Motor Vehicles Computer Equipment

Depreciation Rates 22.5% 40%

Depreciation Basis Diminishing Value Diminishing Value

17


NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (c) Impairment of Assets At each reporting date, the Foundation reviews the carrying values of its assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value-in-use, is compared to the asset's carrying value. Any excess of the asset's carrying value over its recoverable amount is expensed to the income statement. Where it is not possible to estimate the recoverable amount of an individual asset, the Foundation estimates the recoverable amount of the cash-generating unit to which the asset belongs. (d)Leases Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred. (e) Employee Benefits Provision is made for the Foundation's liability for employee benefits arising from services rendered by employees to balance date. Employee benefits expected to be settled within one year together with benefits arising from wages and salaries, annual leave and sick leave which will be settled after one year, have been measured at the amounts expected to be paid when the liability is settled plus related on-costs. Other employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. Contributions are made by the Foundation to an employee superannuation fund and are charged as expenses when incurred. (f) Financial Instruments Recognition Financial instruments are initially measured at cost on trade date, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below. Financial liabilities Non-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method. Impairment At each reporting date, the Foundation assesses whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recognised in the income statement (f) Cash and Cash Equivalents Cash and cash equivalents includes cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the balance sheet.

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NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (g) Revenue Revenue from the rendering of a service is recognised upon the delivery of the service to the customers. Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets. Other revenue is recognised when the right to receive the revenue has been established. All revenue is stated net of the amount of goods and services tax (GST). (h) Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. Receivables and payables in the Balance Sheet are shown inclusive of GST. Cash flows are presented in the cash flow statement on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows. (i) Receivables Trade debtors are recognised at the nominal amounts due at the time of sale or service delivery. Settlement of these amounts is required within 30 days from invoice date. The collectability of receivables is assessed periodically with provision being made for impairment. All known bad debts were written-off as at 30 June. (j) Acquisitions of Assets Actual cost is used for the initial recording of all non-current physical and intangible asset acquisitions. Cost is determined as the value given as consideration plus costs incidental to the acquisition, including all other costs incurred in getting the assets ready for use. (k) Issuance of Financial Statement The financial statements are authorised for issue by the Chairperson and Secretary at the date of signing the Management Certificate. (l) New and Revised Accounting Standards The Foundation did not adopt early any new or amended accounting standard ahead of the specified commencement date. Consequently, the Foundation has not applied any Australian accounting standards and interpretations that have been issued but are not yet effective. The Foundation will apply these standards and interpretations in accordance with their respective commencement dates. The adoption of these standards is not expected to have a material impact on the Foundation. (m) Comparative Figures Where required comparative figures have been restated to be consistent with disclosures in the current reporting period.

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The financial report was authorised for issue on this 22nd day of August 2009 by the members of the Committee.

2009

2008

NOTE 2: $

$

Employee Benefits Wages and salaries Employer superannuation contributions

500,804 41,797

442,020 35,503

Employee Related Expenses Worker’s compensation premium Other employee related expenses Total Employee Expenses

2,629 545,230

2,709 480,232

18

18

Number of employees at year end Executive Remuneration No senior executive received or was due to receive total remuneration of $100,000 or more

20


2009 $

2008 $

NOTE 3: SURPLUS/(DEFICIT) FROM YEAR Surpluses/(deficit) from ordinary activities has been determined after: (a) expenses; Depreciation of non-current assets - Office equipment Remuneration of the auditors for: - audit or review services

17,304

16,233

4,124

4,563

965,300 23,503 287,642 83,575 1,360,020

918,910 1,971 595,997 96,601 1,613,479

616 50,102 1,466,979 1,517,697

4,416 115,854 1,545,247 1,665,517

85,191 85,191

89,645 89,645

16,647 22,072 38,719

14,693 56,898 71,591

35,194 (16,405) 18,789

33,103 (11,081) 22,022

77,111 (55,686) 21,425

65,281 (43,706) 21,575

40,214 40,214

43,597 43,597

(b) Revenue and net gains Car park Conferences Donations and other income Interest income

NOTE 4 : CASH AND CASH EQUIVALENTS Cash on hand Cash at bank Queensland Treasury Corporation cash fund

NOTE 5 : TRADE AND OTHER RECEIVABLES Current Trade receivables

NOTE 6: OTHER ASSETS Current Prepayments Deposits

NOTE 7: PROPERTY PLANT AND EQUIPMENT Plant and equipment Motor vehicles - at cost Accumulated depreciation

Computer and electronic equipment - at cost Accumulated depreciation

Total plant and equipment Total property, plant and equipment

21


Movements in carrying values of assets

2009 Motor vehicles Computer equipment Total

2008 Motor vehicles Computer equipment Total

Balance at beginning of the year

Additions/ Revaluation

22,022 21,575 43,597 Balance at beginning of the year

Disposal

2,091 11,830 13,921 Additions/ Revaluation

28,414 12,539 40,953

Depreciation Expense -

Disposal

18,877 18,877

Depreciation Expense -

NOTE 8: TRADE AND OTHER PAYABLES Unsecured liabilities Trade payables Endowments and designated funds Income in advance Employee benefits Sundry creditors and accruals

(5,324) (11,980) (17,304)

(6,392) (9,841) (16,233)

2009 $ 11,211 95,231 40,401 24,587 171,430

Carrying amount at year end 18,789 21,425 40,214 Carrying amount at year end 22,022 21,575 43,597

2008 $ 76,247 86,836 118,301 30,578 27,070 339,032

NOTE 9: PROVISIONS

Balance at 1 July 2008 Additional provisions raised during the year Amounts used Balance at 30 June 2009

Annual leave provision 30,578

Long service leave provision 29,048

Total provisions 59,626

9,823 40,401

7,989 37,037

17,812 77,438

2009 $ Analysis of provisions Current - trade and other payables Current - provisions Non-current - provisions

40,401 17,891 19,146 77,438

2008 $ 30,578 14,748 14,300 59,626

NOTE 10: ENDOWMENT The Association of Relatives and Friends of the Mentally Ill, Sunshine Coast Inc (ARAFMI) have donated funds to the Foundation. 80% of the interest earned is to be used for a PhD Scholarship with the Foundation contributing any shortfall. The fund may not be used for any other purpose. NOTE 11: CONTINGENT LIABILITIES There are no known contingent liabilities as at the reporting date.

22


NOTE 12: REMUNERATION OF COMMITTEE MEMBERS The members of the Committee of the Ipswich Hospital Foundation at any time during or since the end of the financial year are as follows: R Walker, J Wilton, C Bromage, P Casos, N Harding, P Lane, R McGregor, A Edwards, M Brown, C Kermond, R Chandler (Secretary only) The Foundation Members have not directly or indirectly received or are due to receive remuneration from the Foundation or any related party in connection with the management of the Foundation. NOTE 13: SEGMENT REPORTING The Foundation operates predominantly in providing funding and resources for the support of the West Moreton District Health Services. 2009 2008 NOTE 14: CASH FLOW INFORMATION $ $ (a) Reconciliation of cash Cash on hand 616 4,416 Cash at bank 50,102 115,854 Queensland Treasury Corporation cash fund 1,466,979 1,545,247 1,517,697 1,665,517 (b) Reconciliation of cash flows from operations with surplus after income tax Surplus/(Deficit) after income tax Non cash flows in profit from ordinary activities Depreciation Changes in assets and liabilities (Increase)/decrease in trade and other receivables (Increase)/decrease in other assets Increase/(decrease) in trade and other payables Increase/(decrease) in provisions

(28,916)

134,955

17,304

16,233

4,454 32,872 (177,425) 17,812 (133,899)

(35,498) (53,903) 157,775 (9,617) 209,945

23


NOTE 15: FINANCIAL RISK MANAGEMENT (a)

Interest Rate Risk

The Foundation’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on classes of financial assets and financial liabilities, as well as the expected maturities of those financial assets and financial liabilities, is as follows: We ighted Average Ef fective Interest Rate

Floating Interest Rate

Fixed Inte re st Ra te Maturing Less than 1 y ear

Non Interes t Be aring

Tota l

2 009

20 08

20 09

2008

20 09

20 08

2009

200 8

2 009

200 8

%

%

$

$

$

$

$

$

$

$

0.00%

0 .0 0%

-

-

-

-

6 16

4 ,4 16

61 6

4,416

0.50%

0 .5 0%

50,102

115 ,8 54

-

-

-

-

50 ,10 2

11 5,854

5.52%

7 .5 5%

1,466,979

1,545 ,2 47

-

-

-

-

1,466,97 9

1 ,54 5,247

0.00%

0 .0 0%

-

-

-

-

85 ,1 91

89 ,6 45

85,19 1

8 9,645

1,517,081

1,661 ,1 01

-

-

85 ,8 07

94 ,0 61

1,602,88 8

1 ,75 5,162

-

-

-

-

171 ,4 30

339 ,0 32

171,43 0

33 9,032

-

-

-

-

171 ,4 30

339 ,0 32

171,43 0

33 9,032

Financial Assets Cash on han d Cash at ban k Que enslan d Treasury Trade an d other receivab les Tot al fina ncia l ass ets Financial Lia bilities Trade an d other payab les Tot al fina ncia l liabilities

0.00%

0 .0 0%

Trade and other payables, as for the 2008 year, are expected to be settled within 6 months of balance date. (b)

Financial Risk Management The Foundation’s financial instruments consist mainly of deposits with the Queensland Treasury Corporation and financial institutions and accounts receivable and payable. Treasury risks are managed by the Management, Finance and Administration subcommittee of the Board. This subcommittee meets monthly and operates under policies approved by the Board of Committee Members. Risk management policies are approved and reviewed by the Board on a regular basis. No exposure or loss has arisen in any prior accounting period.

(c)

Net Fair Values For all financial assets and financial liabilities shown above the net fair value approximates their carrying value. No financial assets and financial liabilities are readily traded on organised markets in standardised form. Financial assets where the carrying amount exceeds net fair values have not been written down as the Foundation intends to hold these assets to maturity. The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the statement of financial position and in the notes to the financial statements.

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NOTE 16: FINANCIAL RISK MANAGEMENT (Cont.) (d) Sensitivity Analysis Interest Rate Risk The Foundation has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. This sensitivity analysis demonstrates the effect on current year results and equity which could result from a change in this risk. As at 30 June 2009, the effect on profit and equity as a result of changes in the interest rate, with all other variables remaining constant, would be as follows: 2009 $

2008 $

Change in profit - Increase in interest rate by 2% - Decrease in interest rate by 2%

30,342 (30,342)

33,222 (33,222)

Change in equity - Increase in interest rate by 2% - Decrease in interest rate by 2%

30,342 (30,342)

33,222 (33,222)

NOTE 17: BODY CORPORATE DETAILS The principal place of business of the body corporate is: Ipswich Hospital Foundation PO Box 878 21 Bell Street IPSWICH QLD 4305

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Certificate of Ipswich Hospital Foundation The annual financial statements have been prepared pursuant to the provisions of the Financial Administration and Audit Act 1977 and other prescribed requirements. We certify that: (a)

The financial statements with other information and notes to and forming part thereof are in agreement with the accounts and records of the Ipswich Hospital Foundation.

(b)

In our opinion: (i)

the prescribed requirements in respect of the establishment and keeping of accounts have been complied with in all material respects; and

(ii)

the annual financial statements have been drawn up so as to present a true and fair view, in accordance with prescribed accounting concepts and standards, of the transactions of the Foundation for the period 1 July 2008 to 30 June 2009 and of the financial position of the Foundation as at the end of that year.

Rob Walker - Chairman

Ray Chandler - Secretary

Dated this

26

22nd

day of

August,

2009


Independent Audit Report To the Members of the Ipswich Hospital Foundation Report on the Financial Report The Financial Statements I have audited the accompanying financial report of the Ipswich Hospital Foundation which comprises the balance sheet at 30 June 2009, and the income statement, statement of changes in equity and cash flow statement for the year ended on that date, a summary of significant accounting policies, other explanatory notes and certificates given by the Committee and officer responsible for the financial administration of Ipswich Hospital Foundation for the year ended 30 June 2009. The Committee's Responsibility for the Financial Report The Committee is responsible for the preparation and fair presentation of the financial report in accordance with prescribed accounting requirements identified in the Financial Administration and Audit Act 1977 and the Financial Management Standard 1997, including compliance with applicable Australian Accounting Standards (including the Australian Accounting Interpretations). This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to error or fraud; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor's Responsibility My responsibility to express an opinion on the financial report based on the audit is prescribed in the Auditor-General Act 2009. This Act, including transitional provisions, came into operation on 1 July 2009 and replaces the previous requirements contained in the Financial Administration and Audit Act 1977. The audit was conducted in accordance with Auditor-General of Queensland Auditing Standards, which incorporate the Australian Auditing Standards. These auditing standards require compliance with relevant ethical requirements relating to audit engagements and that the audit is planned and performed to obtain reasonable assurance whether the report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgement, including the assessment of risks of material misstatement in the financial report, whether due to fraud or error. In making these risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial report in order to design audit procedures that are relevant in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control, other than expressing an opinion on compliance with prescribed requirements. An audit also includes evaluating the appropriateness of accounting policies and the reasonableness of accounting estimates made by the Committee, as well as evaluating the overall presentation of the financial report including any mandatory financial reporting requirements as approved by the Treasurer for application in Queensland. I believe that the audit evidence obtained is sufficient and appropriate to provide a basis for my audit opinion. Independence The Auditor-General Act 2009 promotes the independence of the Auditor-General and QAO authorised auditors. The Auditor-General is the auditor of all public sector entities and can only be removed by Parliament. The Auditor-General may conduct an audit in any way considered appropriate and is not subject to direction by any person about the way in which powers are to be exercised. The Auditor-General has for the purposes of conducting an audit, access to all documents and property and can report to Parliament matters which in the Auditor-General's opinion are significant.

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Ipswich Hospital Foundation Independent Audit Report To the Members of the Ipswich Hospital Foundation Auditor's Opinion In accordance with section 40 of the Auditor-General Act 2009: (a)

I have received all information and explanations which I have required; and

(b)

in my opinion: (i)

the prescribed requirements in respect of the establishment and keeping of accounts have been complied with in material respects; and

(ii)

the financial report has been drawn up so as to present a true and fair view, in accordance with the prescribed accounting standards of the transactions of the Ipswich Hospital Foundation for the financial year 1 July 2008 to 30 June 2009 and of the financial position at the end of that year.

B G Hiley, FCA as Delegate of the Auditor-General of Queensland Signed on this 22nd day of August, 2009 at Brisbane

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GLOSSARY OF TERMS Ambassadors Ambassadors are fund raisers, volunteers and helpers of the Foundation.

Ipswich Healthy4Life This is a new web initiative of the Ipswich Hospital Foundation in conjunction with West Moreton Population Health and Ipswich City Council, aimed at providing the most up to date information on events in and around the city.

ARAFMI Association of Relatives and Friends of the Mentally Ill.

One Mile Gift One of the Foundation’s healthy events.

Event Director Event director is a New Zealand based online event management system that the Ipswich Hospital Foundation uses to host their event websites and handle event registrations.

Park2Park The Park2Park is an annual healthy event held by the Ipswich Hospital Foundation. It is a fun run event offering Half Marathon, 10KM and 5KM courses. The Park2Park is held on the last Sunday of July each year and 2009 sees it fifth year of operation.

Fit4Life These are the ongoing sessions promoting better health at free or low cost to the community. Fit Flicks These are outdoor movies that prior to the showing, an aerobic exercise session was held to involve the whole family in physical activity. Healthy4Life Resource Centre The Healthy4Life Resource Centre is a service provided free of charge to community groups and schools in the health district.

Partners Partners are organisations, councils, hospital auxiliaries and professional organisations that together with the Foundation promote becoming a healthier community. SNAP Stands for Screening, Nutrition, Activity and Positive Attitude Program. SNAP is a business place based health screening program conducted by the Ipswich Hospital Foundation.

Healthy Communities Research Centre The Ipswich Hospital Foundation is a major partner of the Healthy Communities Research Centre, in the Faculty of Health Sciences at The University of Queensland.

Sunshine Circle The Sunshine Circle aims to raise funds to improve the quality of the Ipswich Hospital’s Sunshine Ward, and ultimately to brighten the lives of the children that stay for periods of time in hospital.

Healthy Queensland Awards The Healthy Queensland Awards are an annual state-wide competition to find Queensland's healthiest community, Queensland's healthiest school and Queensland's healthiest workplace.

Wig Library One of the most beneficial amenities of the Foundation has been the Wig Library. The Library allows cancer patients to borrow a wig for a period of time until they no longer feel they require the wig. It is then returned to the Foundation.

Interpreter Service If you have difficulty in understanding the annual report, you can contact us on (07) 3817 2318 and we will arrange an interpreter to effectively communicate the report to you. Online Version The online version of this annual report can be found at http://www.ihfoundation.org.au/ihf.php/about.

Thank You to all the donors and supporters of the Ipswich Hospital Foundation. Your continued support over the past year has assisted the Foundation towards its goal of

Becoming the Healthiest Community in Australia. Without your generous donations and support, the Foundation would not be able to continue to expand and create new healthy programs for the community.

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Ipswich Hospital Foundation Annual Report 08-09  

Trial issue

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