Issuu on Google+

T R O P I C A L

M E D I C A LT R A I N I N G General Practice Specialists

Annual Report 2010 ABN 30 099 056 890


ordinary heroes in everyday life tropic al me dic al training

a nnual re por t 2010

GP’s...

03


director’s details

chairman and chief executive report

tmt company members

operational summary


glossary

a nnual re por t 2010

training programs

financial statements

05 tropic al me dic al training

about tropical medical training


chairman & chief executive report


TMT has also responded to the Federal Governments Heath Reforms of 2009 which established Health Workforce Australia, Primary Healthcare Organisations and the foreshadowed Local Health/Hospital Networks. This area is set for more structural reform through 2011, however there will be no impact on the core funded programs currently managed by TMT, being AGPT Registrar Training, Postgraduate General Practice Placement Program (PGPPP) or the Indigenous Health Training fund (IHT). During 2010 TMT restructured our Medical Education team and established two new senior Medical Trainer positions to manage Education Delivery under the Director of Medical Training. Dr Rebecca Stewart and Dr Michael Murray (who will join TMT in January 2011) will fill these roles. Major curriculum work has been undertaken and new program management processes have been established for training logistics across the region of North Queensland. 2010 also saw a review of TMT’s Business Continuity Planning as well as OH&S and Business Risk. This risk analysis not only

Registrar satisfaction is measured by GPET annually and this year TMT has achieved 94% 5% above the national average at 89%.

position and Dr Michael Murray, who was elected at the April 2009 AGM has stood down in January 2011 to accept a full time position with the company. Following a Skills Assessment in October, the Board appointed Mr Barry Comben to fill a vacant position which will need to be ratified at the AGM. We welcome Barry who brings skills in business and commercial experience to the Board.

Finance and Administration at TMT is in the good hands of very experienced senior managers who understand the organisation and the AGPT funding cycle and policies. Ms Fiona McGill, who was promoted to the senior role of Operations Manager and Company Secretary has been foremost in this leadership and provides an invaluable stability to the organisational processes that underpin the strength of TMT.

We wish to record and acknowledge with great thanks those Board Members who served TMT this year. These members contributed great insight and commitment to the work of TMT over the last twelve months. One of the Board’s goals is to continue to develop a skill base for the future in light of changes in the medical education sector which the organisation will be facing as well as to develop the huge opportunities for Tropical Medical Training across the region.

A Senior Management Group has been established and is working to further develop TMT’s professionalism, skills and effectiveness through an ongoing formal Strategic

The new programs of PGPPP and the IHT funding of Aboriginal Medical Services are opening a new direction for TMT to provide services to communities in North Queensland.

Planning process using Project Management skills, a Quality Improvement program. A new Formal Staff Performance Review process has been created and a new Management Information System (tmtonline) to automate many processes will be commissioned in early 2011, freeing staff time as the program numbers increase over the next years.

Finally we wish to thank all of you, our members and advocates, for your ongoing support and contribution to the work of Tropical Medical Training. We are looking forward to another year of successful programs.

Our first GP Registrar Director, Dr Amanda Torkington, was appointed to the Board in March 2009 and stands down at this AGM. We wish to thank her for her valuable contribution. Sadly in October, we accepted the resignation of Dr Brenton Trezise, due to ill health, he has been missed and we wish him well as he moves through his treatment. We are grateful to Dr Alan McMahon, Chairman of the FNQRDGP Division for accepting a temporary appointment to the Board to fill this

CHAIRMAN Dr Bruce Cameron

CHIEF EXECUTIVE Mr Ian Hook

a nnual re por t 2010

considered program admin, education delivery, finance and administration but also the training program and has resulted in a new program of training and Registrar Remediation. This review extends to natural disaster recovery.

07 tropic al me dic al training

The primary business of Tropical Medical Training is the supervision of General Practice Registrars under the rules and standards of the General Practice Colleges; ACRRM and RACGP. This year the objective was extended by GPET with a new Triennium Contract to include a consideration of Local Health Needs and Workforce Planning across our region. The additional responsibilities have begun a satisfying involvement with the Queensland Health Districts where we have provided General Practice Specialists and Rural Generalists across North Queensland’s workforce. From Thursday Island Hospital and Primary Care Clinic through to Cooktown, Mt Isa, Longreach and the three cities of Cairns, Townsville and Mackay; TMT has had some 130 Doctors from the program providing an essential contribution to the General Practice workforce.


tmt directors details DIRECTORS FOR PERIOD 1 JANUARY 2010 TO 31 DECEMBER 2010

Dr Bruce Cameron

Dr Richard Keyes

Ms Leonie Davey

Dr Amanda Torkington

Dr Michael Murray

CHAIRMAN

DEPUTY DIRECTOR

DIRECTOR

DIRECTOR

DIRECTOR

BSc(Hons) MBBS FACRRM DRANZCOG

MBBS

BBus

BSc, MBBS

MBBCh

First appointed 24 July 2008, Re-appointed 28 March 2009, Appointed Chairman 28 March 2009

First Appointed 22 May 2008, Re-appointed 28 March 2009

First appointed 28 March 2009

First appointed 28 March 2009

First Appointed 27 March 2010

Community and Project Development Consultant Leonie Davey has experience in senior management and the administration of government funding. For the past 15 years she has worked with a variety of not-for-profit boards and has gained a comprehensive knowledge of how they operate. Leonie assists TMT in delivering training, administration and support throughout North and North West Queensland. As Executive Officer of the North Queensland Area Consultative Committee, Leonie saw a total of $60 million worth of projects approved and $17 million of Regional Partnership (Federal) funding sourced for the region over three years.

TMT GP Registrar Director Amanda Torkington has worked in hospitals in Nambour, Queensland and Darwin. Her General Practice experience includes a pre-vocational GP placement in Jabiru in the Northern Territory, working in an Aboriginal Medical Service. Her current employment as an Academic Registrar at the JCU School of Medicine and Dentistry has given her an appreciation of the bigger picture of the role of medicine and medical education within the wider community.

Dr Michael Murray is currently a part-time GP in Townsville with a professional interest in the better delivery of health care to the community through General Practice by strategic involvement in organisations involved in delivery of care; attracting, supporting and educating medical students and GP Registrars and maintaining the GP workforce in North Queensland. Dr Murray has been a Board Member of Townsville GP Network since 2007 and previously served on the Board of the Mackay Division of General Practice.

Dr Bruce Cameron has been a rural medical practitioner on the Atherton Tablelands for more than 30 years. From 1978 until 1997 he was Medical Superindendent of the Atherton Hospital and has been subsequently in private practice in Atherton and Malanda. Dr Cameron is a Foundation Member of the Australian College of Rural and Remote Medicine, has been the Queensland State Director on the ACRRM board and is a Past President of the Rural Doctors’ Association of Australia. In 2008 he was appointed Adjunct Associate Professor School of Medicine James Cook University.

Dr Richard Keyes is currently a full-time GP in Townsville. He served in the Royal Australian Airforce until 1982 and then in the Specialist Reserve until 2008. He has memberships in the Society of Aerospace of Medicine, Sports Medicine, Skin Cancer Society of Australia and Cosmetics Physicians Society of Australia. He has served on the board of the Townsville Division of General Practice, was a former executive member of the Australian Medical Association of Queensland, and has been on the medical advisory board of the then Wesley Park Haven and the Mater Hospital. He has also been involved in teaching medical students from JCU as an adjunct Senior Lecturer and a GP Trainer.


a nnual re por t 2010

DIRECTORS WHO RETIRED IN 2010

Barry Comben

Dr Chris Kennedy

Dr Sarah Larkins

Dr Brenton Trezise

DIRECTOR

DIRECTOR

MBBS MPH&TM FRACMA FRACGP

MBBS FACRRM GAICD

First Appointed 18 October 2010

First Appointed 6 November 2010

Currently a GP in Cairns, Dr Alan McMahon has previously served in Papua New Guinea, worked as a Surgical Registrar at Greenslopes and Cairns Base Hospital, Medical Superintendent in Babinda District Hospital in addition to 20 years as solo GP in Babinda. Dr McMahon has considerable board experience having served on the GP Cairns, Far North Queensland Rural Division of General Practice (FNQRDGP), GP Queensland, and Health Workforce Queensland Boards.

Barry Comben brings to the board a general commercial experience, having over 20 years in the real estate industry, with 14 years of this as partner of Mackay firm, Hugh Reilly Real Estate. The business is one of Mackay’s oldest, employing a staff of 16 in both sales and property management. Barry’s experience in this sector has been enhanced by a term as branch President of the REIQ, as well as his current position as director of the publishing companies, Mackay Real Estate Weekly and National Press Group. Barry has also served as a committee member of the Mackay branch of the Leukaemia Foundation since its creation in 1986.

Appointed director 1 June 2006, Reappointed director 24 March 2007 to present, Appointed Chairman of Audit & Risk Committee 24 March 2007 to 29 March 2008, Deputy Chairman 14 June 2008 to 28 March 2009, Appointed Chairman of Finance Audit & Risk Management Committee 7 October 2008, Retired 27 March 2010

MBBS BMedSci MPH&TM FRACGP FARGP 

MBBS GDCM FRACGP FACRRM FACID

MBBS FACRRM GAICD

Dr Chris Kennedy has been a medical administrator, working in South Australia, then nine years for Queensland Health in North Queensland. From 2003 to 2005, Dr Kennedy was part-time Medical Coordinator of TMT, employed by JCU. Since then Chris has done part-time locum positions for the Townsville Hospital and TMT.

Appointed director 4 August 2007, Re-appointed director 29 March 2008, retired 27 March 2010

Dr Sarah Larkins is a Townsvillebased medical practitioner and relatively recent graduate of vocational training for general practice in North Queensland. She is also a Senior Lecturer in Primary Health Care with the School of Medicine and Dentistry, JCU. Her special interests include the health needs of Aboriginal peoples and Torres Strait Islanders, under-served population groups and Primary Health Care research and training. She has previously served on the boards of the Townsville General Practice Network (then the TDGP) and National Research Advisory Board of the Australian Primary Health Care Research Institute.

First appointed 28 March 2009, re-appointed as Deputy Chairman 27 March 2010, retired 12 October 2010

For more than 15 years, Dr Brenton Trezise has been a GP Supervisor. He has extensive history in rural medicine but now concentrates more on emergency medicine, skin cancer surgery and teaching registrars and students. Partner and practitioner at Ayr Medical Group, Dr Trezise is also a director of Burrice Pty Ltd, Mt Stuart Pty Ltd and Riverway Development Pty Ltd.

09 tropic al me dic al training

Dr Alan McMahon


tmt company members Australian College of Rural and Remote Medicine

DR BRUCE CAMERON

Far North Queensland Rural Division of General Practice

DR PATRICK O’NIELL

GP Registrar Associations (GPRA)

DR AILEEN UNDERHILL

GP Supervisors Association (GPSA)

DR BARBARA DIGNAM

James Cook University (JCU)

PROF TARUN SEN GUPTA

Mackay Division of General Practice

DR NICOLE HIGGINS

Mount Isa Centre for Rural and Remote Medicine (MICRRH)

ASSOC PROF DENNIS PASHEN

North and West Queensland Primary Health Care

DR BRENTON TREZISE

Royal Australian College of General Practice (RACGP)

DR ANDREW MCKENZIE

Royal Flying Doctors Service (RFDS)

DR IAN HOSEGOOD

Townsville General Practice Network

DR KEVIN ARLETT

Queensland Health (QH)

DR ANDREW JOHNSON


tropic al me dic al training

11

a nnual re por t 2010


operational summary

Office of the Chief Executive

Medical Education Office

GP REGISTRAR TRAINING

EXISTING STAFF

EXISTING STAFF

• F our GPT1 and GPT2 workshops – Townsville, Cairns, Mackay, Townsville

• Ian Hook, Chief Executive

• M  aria-Theresa Lehmann, Program Admin Manager

• J ennifer Tucker, Executive Support Coordinator (Finished 22-1-10)

• C  ourtney Kelly, Senior Program Admin Officer

NEW STAFF • Julie Cliff, Executive Support Coordinator, PA to CEO (Started 22-2-10)

COLLABORATION • R  e-established contacts with various Medical and General Practice organisations in Queensland and nationally – RFDS, HWQ, ACE, CSQTC, RRQC, NACHHO, etc • R  eview of Primary Care experience in the Rural Generalist Placements

PLANNING • E stablished strategic review group to examine TMT strategic direction and write new Strategic Plan and GPET Collaboration document • T  hree-year contract for GPET business 2010–2012 • Lead GPET re-accreditation process • Secured IHT Salaries Contract with GPET • Managed transition of PGPPP to GPET

• B  arbara Dignam, Medical Educator – Townsville and GP Trainer Liaison Officer • S haun Grimes, Rural Coordinator/ RACGP Advisor • Jan Hanson, Medical Educator – Mackay • A  aron Hollins, Medical Educator – Atherton Tablelands (Finished 8-1-10) • Alex Kippin, Registrar Liaison Officer • Stewart Lyle, Senior Education Admin Officer • Meg Middleton, Education Program Manager • Patrick O’Neill, ACRRM Advisor • Hannah Redshaw, Program Admin Officer • S arah Smith, Medical Educator – Cairns (Finished 11-6-2010) • B  ronwyn Stewart, Admin Officer – Atherton Tablelands • E mma Hore, GP Training Program Admin Officer (Finished 14-6-2010) • P riscilla Page, Indigenous Health Training Coordinator (Finished 31-3-2010) • A  ileen Underhill, Registrar Liaison Officer (Finished 31-12-10)

N EW STAFF

• Sponsored LMS, MIS and website projects

• J ason Delany, Medical Educator – Cairns (Started 10-6-2010)

PROFESSIONAL DEVELOPMENT

• R  od Nan Tie, Director of Medical Training (Started 18-1-2010)

• S cotwork Advanced Negotiating Skills program • D  evelop ASME Leadership in Medical Education

• A  nn Marie O’Neill, Education Admin Officer (Started 22-11-2010) • R  ebecca Stewart, Medical Trainer (Started 18-01-2010)

• GPT3 workshop – Townsville • T  MT/Family Planning Queensland Sexual Health course – Townsville • G  P Registrars presenting at Townsville GP Network’s Grand Rounds sessions • M  entoring Medical Students = GPRA First Wave Scholarships • Post Accreditation Framework • ‘Illuminate’ virtual teaching

POST GRADUATE PRE-VOCATIONAL PLACEMENT PROGRAM • E ight interns per term placed in General Practice – Townsville, Thursday Island • F our Introduction to General Practice seminars – Townsville


INDIGENOUS HEALTH TRAINING

AWARDS

RESEARCH

• Frontline Communications

• C  ross Cultural Awareness Training for Basic and Advanced Registrars – Townsville

• G  PET/Medical Observer Environmental Encouragement Award: Tropical Medical Training

• P ap tests – what do women expect? Australian Family Physician Vol 39, (10) 775-778, Rebecca Stewart & Jill Thistlethwaite

• Professional development symposium

• Indigenous Reference Group meeting – Townsville

• R  ACGP: 2010.1 Maureen Duke and Marion Sullivan Memorial Award - Dr Amanda Torkington

• U  nderstanding general practice training capacity in north Queensland, GP10 Conference, Rebecca Stewart, Rebecca Evans & Meg Middleton

• A  NU: 2010 APHCRI/Robert Graham Center Visiting Fellowship - Dr Lachlan McIver

• R  olling out PGPPP – making the most of general practice capacity, GP10 Conference, Rebecca Stewart, Ms Meg Middleton

Business Services Office

• A  n Indigenous Learning Concept - Laura Dance Festival: What attracts registrars to Indigenous health training? - Meg Middleton & Ray Blackman

• Kylie Bruce, ICT Project Officer (Finished 24-3-2010)

GP SUPERVISORS TRAINING

SELECTION

• T  wo GP Supervisors workshops – Cairns & Townsville

• M  ultiple Mini Interview process successfully implemented

• Regional GP Supervisors workshops

• Three rounds of interviews completed • 45 places filled + 6 ADF Registrars

• Learning Resources Database project, Kelvin de Waele

• Certificate IV in Business Administration

EXISTING STAFF • Kelvin de Waele, ICT Manager • Natalie Gross, Finance Manager • Fiona McGill, Business Services Manager

PROFESSIONAL DEVELOPMENT

• Ann Mison, Finance Officer

• R ACGP Education master class

• A shley Sands, ICT Project Officer (Finished 22-1-2010)

• N  CGPT Medical Educator & Medical Record Workshop

• Sarah Thornton, Business Services Support Officer

a nnual re por t 2010

• Indigenous Retreat - Eungella

• B  achelor Applied Science - Indigenous Primary Health – Subjects

13 tropic al me dic al training

• G  P Registrar IHT Presentations – Townsville, Atherton Tablelands, Cairns, Mackay

• Indigenous health meetings


operational summary (continued)

NEW STAFF

FINANCIAL MANAGEMENT

• S arah Byrne, Reception/Admin Officer (Started 30-6-10)

• Implementation of new Budget System across the organisation

BUSINESS SERVICES • Implementation of TMT Style Manual • C  ontinuing success of carbon-reducing initiatives for TMT

• R  efinement of financial reporting at management, FARM Committee, Board level

• Project Management Office established

• P olicy revision for Registrar Financial Assistance and implementation of External Course Assistance policy

MARKETING AND RECRUITMENT

• R  efinement of business processes for payments, purchasing and travel

NETWORK INFRASTRUCTURE PHASE 2 • 4 GBit Backbone • 10.10 MBit internet microware link • Wifi-Data • Wifi-Phones • Wifi-Guest • Switch Refresh

SERVER INFRASTRUCTURE ADDITIONS

• Introducing General Practice – Hospital Intern educational sessions – Mackay, Townsville, Cairns, Gold Coast

• Ultimate Reports Software

HUMAN RESOURCES

• Whitebox NAS

• R  oyal Brisbane Hospital Vocational Expo – Brisbane

• Six recruitment processes

• Netgoer NAS+

• D  eveloped and implemented KPI for Staff Performance Reviews tied to Corporate Goals and measurable outcomes

• HP DL360

• Review of Staff Positions Descriptions

SYSTEMS

• T  MT’s Strategic Plan divided into Team Operational Plans

• Learning Management System

• GP Network Meet and Greet – Townsville • A  ustralian Medical Students’ – Online Campaign • G  PRA GP Ambassador Pilot Project – Cairns, Townsville, Mackay • G  P Students’ Network Experience – Townsville • G  P Students’ Network First Wave Scholarship • R  ural Doctors’ Association of Queensland Conference • JCU Medical Students’ Association • JCU Faculty Medicine Graduation

OCCUPATIONAL HEALTH AND SAFETY

• NetApp SAN

• Integrated Modular Server Upgrade

• TMTONLINE development • IRIS to RIDE • Marketing Website

• Fire Safety Training

PROFESSIONAL DEVELOPMENT

• Policy and Procedures program

• Negotiation Skills Scottwork Course

• Monthly safety sessions

• Commerce Queensland seminar

INFORMATION AND COMMUNICATION TECHNOLOGIES

• Performance Management course

• Baseline ICT infrastructure projects complete

• Payroll and Tax workshop

DESKTOP SYSTEMS REFRESH

• Certificate IV – Business Administration

• Windows 7

• MYOB training

• Microsoft Office 2010 • MYOB Enterprise 19

• D  iploma of Project Management workshop

COMMUNICATIONS ADDITIONS

• C  ertificate IV – Project Management workshop

• iPads to employees

• Bachelor of Accounting – Subjects • Bachelor of Business - Subjects • Salary Packaging workshop


tropic al me dic al training

15

a nnual re por t 2010


about tropical medical training

General Practice training in Australia is delivered by Regional Training Providers (RTPs). Each RTP is responsible for training within a specific geographic area. Based in Townsville, Tropical Medical Training (TMT) is responsible for GP training in northern and western Queensland. TMT was established as a not-for-profit public company, limited by guarantee, on 13 December 2001. The company began operating in January 2002 as part of a new Australia-wide RTP network for GP vocational training under the direction of General Practice Education and Training (GPET), an initiative of the Commonwealth Government’s Department of Health and Ageing. TMT oversees the training of GP Registrars and participants in the PreVocational General Practice Placements Program (PGPPP) throughout a region larger than New South Wales and Victoria combined. PGPPP is a Federal Government initiative to place junior doctors (interns and postgraduate year 2) into General Practice for 10-12 week terms. TMT conducts the program, which is designed to build practitioner confidence and provide exposure and interest in General Practice in well-supervised placements for participants. TMT’s area covers two-thirds of Queensland from Sarina in the south, up along the eastern seaboard including the major regional centres of Mackay, Townsville and Cairns, to the Torres Strait and down through towns like Mount Isa and Longreach in the west. TMT is based at The Townsville Hospital in a purpose-built training facility for GP training. The company conducts training through a structure supported by regionally based education and support staff.


a nnual re por t 2010

‘It’s just what we do we’re not super or heroes’

tropic al me dic al training

17


training programs GP Registrar Training Program

GP Supervisors

TMT’s Training Program is a high quality, postgraduate vocational training program for medical graduates wishing to pursue a career in General Practice, specifically in Northern Australia.

A GP Trainer is a practising GP whose role is to supervise and teach GP Registrars working in the practice. GP Supervisors have a central and crucial significance in the training experience of GP Registrars who will ultimately be the future of Australian General Practice. General Practice terms are the core of the RACGP Training Program.

The program involves a three/four year full-time (or part-time equivalent) commitment. During training

GP Registrars gain valuable practical experience in teaching-hospitals in regional and/or rural practices and in specialised medical centres. Training is conducted within accredited training posts and is mentored and assessed by experienced Medical Supervisors.

Indigenous Health Training (IHT) Tropical Medical Training (TMT) offers GP Registrars a number of experiences in diverse rural and Indigenous health training centres. This allows GP Registrars to learn and practice indigenous health services to a depth and breadth often unattainable in other programs. TMT’s training program incorporates the Aboriginal and Torres Strait Islander Health Training module, which delivers a range of activities for both RACGP and ACRRM curricula. These include pre-workshop readings, two days of Indigenous cross cultural education, contact visits to local Indigenous organisations and report writing, training presentations at workshops and follow-up cross cultural extension activity. The extension activity includes the biennial Laura Cultural and Dance Festival (demonstrating celebration, community and culture) and other suitable events (that focus on bush tucker, bush medicines and the family).

TMT offers a wide range of training experiences for GP Registrars interested in learning more about Indigenous health training. From well-equipped Aboriginal Medical Service organisations in larger centres and rural towns, to the unique experiences of the Torres Strait and the opportunity offered by the Cape York Paediatric Post, there are many fulfilling and excellent Indigenous learning opportunities. A handbook has been produced which profiles all of TMT’s Indigenous training facilities. GPET has reserved positions in the Training Program for doctors of Aboriginal and Torres Strait Islander origin. These positions are offered to the highestranked applicants of Aboriginal or Torres Strait Islander origin. TMT is proud of its support and role in training GP Registrars in Indigenous health and is interested to hear from keen GP Registrars.

GP Supervisors demonstrate their commitment to training in a number of ways including attendance at GP Supervisors’ workshops as well as providing evidence of their own ongoing training via CPD activities and their personal Learning Plans.

The Prevocational General Practice Placements Program (PGPPP) The PGPPP is an initiative introduced and funded by the Australian Government to provide well supervised General Practice placements for junior doctors in outer metropolitan, regional and remote areas. The Program aims to increase the understanding of the

integration between primary and secondary health for junior doctors. It also enables junior doctors to make informed choices about their future career paths, through building confidence exposure and interest in well supervised General Practice placements.


tropic al me dic al training

a nnual re por t 2010

GPs‌ Superheroes in disguise

19


Glossary


Health Workforce Queensland

ACRRM

IHT

Australian College of Rural and Remote Medicine

Indigenous Health Training

AGPN

IT

Australian General Practice Network

Information Technology

AGPT

JCU

Australian General Practice Training

James Cook University

AMA

LMS

Australian Medical Association

Learning Management System

AMH

ME

Australian Medicines Handbook

Medical Educators

AMSA

MIS

Australian Medical Students Association

Management Information System

ARSP

MOU

Advanced Rural Skills Post

Memorandum of understanding

CPD

PGPPP

Continuing Professional Development

Prevocational General Practice Placement Program

ECT External Clinical Teacher

PGY

FACRRM

Post Graduate Year

Fellow of the Australian College of Rural and Remote Medicine

QH

FARM

Queensland Health

Financial and Risk Management

RACGP

FARGP

Royal Australian College of General Practitioners

Fellowship in Advanced Rural General Practice

RFDS

FRACGP

Royal Flying Doctors Service

Fellow of the Royal Australian College of General Practitioners

RLO

GP

GP Registrar Liaison Officer

General Practice / General Practitioner

RRMA

GPET

Rural, Remote and Metropolitan Area

General Practice Education and Training Limited

RTP

GPR

Regional Training Provider

General Practice Registrar; GP Registrar

TDGP

GPRA

Townsville Division of General Practice

General Practice Registrar Australia

TAFE

GPSA

Technical and Further Education

General Practice Supervisors Association

TMT

GPT

Tropical Medical Training

General Practice Term

VR Vocational registration

a nnual re por t 2010

HWQ

Association of Chief Executives

21 tropic al me dic al training

ACE


financial statements Directors Report

24

Auditor’s Independence Declaration

29

Statement of Comprehensive Income

30

Statement of Financial Position

30

Statement of Changes in Equity

31

Cash Flow Statement

31

Notes to the Financial Statements

32

Directors’ Declaration

44

Independent Audit Report

45


tropic al me dic al training

23

a nnual re por t 2010


financial statements

Your directors present their report on the company for the financial year ended 31 December 2010.

1. General information

The names of the directors in office at anytime during or since the end of the year are: Dr Bruce Cameron Mr Barry Comben

Appointed 6 November 2010

Ms Leonie Davey Dr Richard Keyes

DIRECTOR’S REPORT

Dr Alan McMahon

Appointed 18 October 2010

Dr Michael Murray

Appointed 27 March 2010

Dr Amanda Torkington Dr Chris Kennedy

Retired 27 March 2010

Dr Sarah Larkins

Retired 27 March 2010

Dr Brenton Trezise

Retired 12 October 2010

Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. The principal activities of the company during the financial year were: to create and build up a GP Registrar training program that meets the needs of GP’s in treating regional communities in North and Western Queensland, to convene a model of education and training which engages key organisations, institutions and agencies, to facilitate innovative approaches to all aspects of GP education and training and to promote GP training by being a leading, credible and respected peak company. No significant change in the nature of these activities occurred during the year. The following person held the position of entity secretary at the end of the financial year: Fiona McGill, BComm MBA. Board secretary for TMT 2002 to 2007, Company Secretary for periods 2007 to 2010. Appointed 28 October 2009 and reappointed 27 March 2010.

2. Business review A. OPERATING RESULT The net profit of the company for the financial year after providing for income tax amounted to $507,289.

B. REVIEW OF OPERATIONS A review of the operations of the company during the financial year and the results of those operations are as follows: the company continued to engage in its principal activity, the results of which are disclosed in the attached financial statements.

3. Other items SIGNIFICANT CHANGES IN STATE OF AFFAIRS No significant changes in the company’s state of affairs occurred during the financial year. No significant change in the nature of these activities occurred during the financial year.


FUTURE DEVELOPMENTS, PROSPECTS AND BUSINESS STRATEGIES No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the company, the results of those operations, or the state of affairs of the company in future financial years. Likely developments in the operations of the company and the expected results of those operations in future financial years have not been included in this report as the inclusion of such information is likely to result in unreasonable prejudice to the company.

ENVIRONMENTAL ISSUES

DR BRUCE CAMERON Qualification:

BSc.(Geophysics Hons.), MBBS, FACRRM, DRANZCOG

Experience: Dr Bruce Cameron has been a rural medical practitioner on the Atherton Tablelands for more than 30 years. From 1978 until 1997 he was Medical Superintendent of the Atherton Hospital and has been subsequently in private practice in Atherton and Malanda. Dr Cameron is a Foundation Member of the Australian College of Rural and Remote Medicine, has been the Queensland State Director on the ACRRM board and is a Past President of the Rural Doctors’ Association of Queensland. In 2009 he was appointed Adjunct Associate Professor School of Medicine James Cook University. Special Responsibilities: Chairman from 28 March 2009

MR BARRY COMBEN (Appointed 6 November 2010) Qualification: Experience: Barry Comben brings to the board a general commercial experience, having over 20 years in the real estate industry, with 14 years of this as partner of Mackay firm, Hugh Reilly Real Estate. The business is one of Mackay’s oldest, employing a staff of 16 in both sales and property management. Barry’s experience in this sector has been enhanced by a term as branch President of the REIQ, as well as his current position as director of the publishing companies, Mackay Real Estate Weekly and National Press Group. Barry has also served as a committee member of the Mackay branch of the Leukaemia Foundation since its creation in 1986.

MS LEONIE DAVEY Qualification: BBus Experience: Community and Project Development Consultant Leonie Davey has experience in senior management and the administration of government funding. For the past 15 years she has worked with a variety of not for profit boards and has gained a comprehensive knowledge of how they operate. Leonie assists TMT in delivering training, administration and support throughout North and North West Queensland. As Executive Officer of the North Queensland Area Consultative Committee, Leonie saw a total of $60 million worth of projects approved and $17 million of Regional Partnership (Federal) funding sourced for the region over three years. Special Responsibilities: Chairman of Finance, Audit and Risk Management Committee from 6 November 2010

25 tropic al me dic al training

4. Information on Directors:

a nnual re por t 2010

The company’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of the State.


financial statements DIRECTOR’S REPORT (continued)

DR RICHARD KEYES Qualification:

MBBS

Experience: Dr Richard Keyes is currently a full time GP in Townsville. He served in the Royal Australian Airforce until 1982 and then in the Specialist Reserve until 2009. He has memberships in the Society of Aerospace of Medicine, Sports Medicine, Skin Cancer Society of Australia and Cosmetics Physicians Society of Australia. Dr Keyes has served on the board of the Townsville Division of General Practice, was a former executive member of the Australian Medical Association of Queensland, and has been on the medical advisory board of the then Wesley Park Haven and the Mater Hospital. He has also been involved in teaching medical students from JCU as an Adjunct Senior Lecturer and a GP Trainer. Special Responsibilities: Deputy Chairman from 6 November 2010

DR ALAN MCMAHON (Appointed 18 October 2010) Qualification:

MBBS FACRRM GAICD

Experience: Currently a GP in Cairns, Dr Alan McMahon has previously served in Papua New Guinea as a Major in the Army, worked as a Surgical Registrar at Repatriation Hospital Greenslopes and Cairns Base Hospital, Medical Superintendent in Babinda District Hospital in addition to 20 years as solo GP in Babinda, with visiting rights. Dr McMahon has considerable board experience having served on the GP Cairns, Far North Queensland Rural Division of General Practice (FNQRDGP), GP Queensland, and Health Workforce Queensland Boards with a cumulative experience of 39 years. He has served on the FNQRDGP Board since 1995 and held positions as Secretary, Treasurer, Chair of Finance Committee, Chair of Governance Committee, and 8 years as Chairman of the Board.

DR MICHAEL MURRAY (Appointed 27 March 2010) Qualification: MBBCh Experience: Dr Michael Murray is currently a part-time GP in Townsville with a professional interest in the better delivery of health care to the community through General Practice by strategic involvement in organisations involved in delivery of care; attracting, supporting and educating medical students and GP Registrars and maintaining the GP workforce in North Queensland. Dr Murray has been a Board Member of Townsville GP Network since 2007 and previously served on the Board of the Mackay Division of General Practice.

DR AMANDA TORKINGTON Qualification:

BSc, MBBS

Experience: TMT Registrar Director Amanda Torkington has worked in hospitals in Nambour, Queensland and Darwin. Her General Practice experience includes a pre vocational GP placement in Jabiru in the Northern Territory, working in an Aboriginal Medical Service. Her current employment as an Academic Registrar at the JCU School of Medicine and Dentistry has given her an appreciation of the bigger picture of the role of medicine and medical education within the wider community. She also undertakes part time clinical practice as a GP Registrar at Gold City Medical Centre in Charters Towers.

DR CHRIS KENNEDY (Retired 27 March 2010) Qualification:

M.B.B.S, MPH&TM, F.R.A.C.M.A, F.R.A.C.G.P, OAM

Experience: Dr Kennedy’s background of working in Papua New Guinea health, and both city and country General Practice, has given him a broad understanding of clinical practice. For the last 25 years, he has been a medical administrator, working in South Australia, then nine years for Queensland Health in North Queensland. From 2003 to 2005, Dr Kennedy was part time Medical Coordinator of TMT, employed by JCU. Since then Chris has done part time locum positions for the Townsville Hospital and TMT. Deputy Chairperson of the Medical Board of Queensland since 2004. TMT Board member since 2006.


DR SARAH LARKINS (Retired 27 March 2010) Qualification:

MBBS, BMedSci, MPH&TM, F.R.A.C.G.P, F.A.R.G.P.

Experience: Dr Sarah Larkins is a Townsville based medical practitioner and relatively recent graduate of vocational training for general practice in North Queensland. She is also a Senior Lecturer in Primary Health Care with the School of Medicine and Dentistry, JCU. Her special interests include the health needs of Aboriginal peoples and Torres Strait Islanders, under served population groups and Primary Health Care research and training. Dr Larkins has previously served on the boards of the Townsville General Practice Network (then the TDGP) and National Research Advisory Board of the Australian Primary Health Care Research Institute.

MBBS, GDCM, F.R.A.C.G.P, F.A.C.R.R.M, FACID

Experience: For more than 15 years, Dr Brenton Trezise has been a GP Supervisor. He has extensive history in rural medicine but now concentrates more on emergency medicine, skin cancer surgery and teaching registrars and students. Partner and practitioner at Ayr Medical Group, Dr Trezise is also a director of Burrice Pty Ltd, Mt Stuart Pty Ltd and Riverway Development Pty Ltd. His board history includes being past chair of Health Workforce Queensland, treasurer NWPHC Division of General Practice, President of Burdekin rugby union and board member of Northern zone regional health authority, QLD health. Special Responsibilities: Deputy Chairman from 28 March 2009 to 12 October 2010, Finance Audit and Risk Management Chairman from 27 March 2010 to 12 October 2010.

27 tropic al me dic al training

Qualification:

a nnual re por t 2010

DR BRENTON TREZISE (Resigned 12 October 2010)


financial statements DIRECTOR’S REPORT (continued)

Meetings of Directors During the financial year, 9 meetings of directors were held. Attendances by each director were as follows:

Eligible to attend:

Number attended:

Dr Bruce Cameron

9

9

Mr Barry Comben

1

1

Ms Leonie Davey

9

8

Dr Richard Keyes

9

9

Dr Alan McMahon

1

1

Dr Michael Murray

8

6

Dr Amanda Torkington

9

8

Dr Chris Kennedy

1

1

Dr Sarah Larkins

1

0

Dr Brenton Trezise

1

0

5. Dividends No dividends were paid during the year and no recommendation is made as to dividends.

6. Options No options over issued shares or interests in the company were granted during or since the end of the financial year and there were no options outstanding at the date of this report.

7. Indemnifying Officers or Auditors No indemnities have been given or insurance premiums paid, during or since the end of the financial year, for any person who is or has been an officer or auditor of the company.

8. Proceedings on Behalf of Company No person has applied for leave of court to bring proceedings on behalf of the company or 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. The company was not a party to any such proceedings during the year.

AUDITOR’S INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under Section 307C of the Corporations Act 2001 is attached to this financial report. Signed in accordance with a resolution of the board of directors:

DIRECTOR DIRECTOR Dr Bruce Cameron

Dated

28th February 2010

Dr Richard Keyes


financial statements

I declare that, to the best of my knowledge and belief, during the year ended 31 December 2010 there have been: (i) No contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and (ii) No contraventions of any applicable code of professional conduct in relation to the audit.

Moore Stephens

Townsville, Qld, 4810

DIRECTOR

28th February 2010

Dated

Townsville

John Zabala FCA

a nnual re por t 2010

Level 2, 21 Stokes Street

29 tropic al me dic al training

AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF TROPICAL MEDICAL TRAINING LIMITED

Chartered Accountant


STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2010 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2010

NOTE

Revenue

2

Employee benefits expense Depreciation, amortisation expenses

2010 $

2009 $

9,610,544

6,958,936

(1,992,558)

(1,756,320)

(126,484)

(78,821)

(6,984,213)

(5,395,400)

507,289

(271,605)

-

-

Total comprehensive income (expense) for the year

507,289

(271,605)

Total comprehensive income (expense) attributable to member of the company

507,289

(271,605)

NOTE

2010 $

2009 $

Cash and cash equivalents

6

3,447,670

2,857,650

Trade and other receivables

7

22,321

49,998

Other current assets

8

16,491

5,555

3,486,482

2,913,203

602,309

291,309

Other expenses Profit (loss) before income tax expense

3

Income tax expense

ASSETS Current assets

Total current assets Non-current assets Property, plant and equipment

9

Total non-current assets TOTAL ASSETS

602,309

291,309

4,088,791

3,204,512

LIABILITIES Current liabilities Trade and other payables

10

Total current liabilities

1,156,183

889,420

1,156,183

984,404

26,835

60,955

Non-current liabilities Long-term provisions

11

Total non-current liabilities

26,835

60,955

TOTAL LIABILITIES

1,183,018

104,5359

NET ASSETS

2,905,773

2,159,153

1,199,750

1,281,843

EQUITY Reserves

12

Retained profits

1,706,023

877,310

TOTAL EQUITY

2,905,773

2,159,153


RETAINED EARNINGS $

RESERVES $

TOTAL $

513,948

2,176,931

2,690,880

Balance at 1 January 2009 Profit attributable to members of the company

(271,605)

Net movement from retained earnings to reserves

12

(646,763)

451,641

(195,122)

Net movement to retained earnings from reserves

12

1,281,729

(1,346,729)

(65,000)

Balance at 31 December 2009

877,310

1,281,843

2,159,153

Balance at 1 January 2010

877,309

1,281,843

2,159,152

Profit attributable to members of the company

507,289

507,289

Net movement from retained earnings to reserves

12

(99,460)

51,018

(48,442)

Net movement to retained earnings from reserves

12

420,885

(133,111)

287,774

1,706,023

1,199,750

2,905,773

Balance at 31 December 2010

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2010

(271,605)

NOTE

2010 $

2009 $

246,512

65,426

9,168,872

6,685,818

(8,608,637)

(7,052,090)

222,969

197,161

1,029,716

(103,685)

Cash flows from operating activities Receipts from customers Operating grants received Payments to suppliers and employees Interest received Net cash provided by (used in) operating activities

19

Cash flows from investing activities Proceeds from sale of plant and equipment

243

3,216

Acquisition of property, plant and equipment

(439,939)

(107,359)

Net cash provided by (used in) investing activities

(439,696)

(104,143)

Net increase (decrease) in cash held Cash and cash equivalents at beginning of financial year Cash and cash equivalents at end of financial year

19

590,020

(207,828)

2,857,650

3,065,478

3,447,670

2,857,650

a nnual re por t 2010

NOTE

31 tropic al me dic al training

STATEMENT OF CHANGES IN EQUITY AS AT 31 DECEMBER 2010


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2010

This financial statements cover Tropical Medical Training Limited as an individual entity. Tropical Medical Training Limited is a company limited by guarantee, incorporated and domiciled in Australia.

1. Summary of significant accounting policies BASIS OF PREPARATION The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) of the Australian Accounting Standards Board and the Corporations Act 2001. Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated. The financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.

(A) INCOME TAX No provision for income tax has been raised as the company 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.

PROPERTY Property improvements are measured on the cost basis less depreciation and impairment losses.

PLANT AND EQUIPMENT Plant and equipment are measured on the cost basis less depreciation and impairment losses. Subsequent costs are included in the asset’s carrying amount or recognised as a separate assets, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the statement of comprehensive income during the financial period in which they are incurred.

DEPRECIATION The depreciable amount of all fixed assets including property improvement assets are depreciated on a straight line basis over their estimated useful lives to the entity commencing from the time the asset is held ready for use. The depreciation rates used for each class of depreciable asset are: The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the income statement. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.


(C) LEASES Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership are transferred to the company are classified as finance leases. Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period. Leased assets are depreciated on a straight line basis over the shorter of their estimated useful lives or the lease term.

INITIAL RECOGNITION AND MEASUREMENT Financial assets and financial liabilities are recognised when the entity becomes a party to the contractual provisions of the instrument. For financial assets, this is equivalent to the date that the company commits itself to either purchase or sell the asset (ie trade date accounting is adopted). Financial instruments are initially measured at fair value plus transactions costs, where the instrument is classified ‘at fair value through profit or loss’ in which case transactions costs are expensed to profit or loss immediately.

CLASSIFICATION AND SUBSEQUENT MEASUREMENT Financial instruments are subsequently measured at either fair value, amortised cost using the effective interest rate method or cost. Fair value represents the amount for which an asset could be exchanged or a liability settled, between knowledgeable, willing parties. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted.

(i) 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 subsequently measured at amortised cost. Loans and receivables are included in current assets, except for those which are not expected to mature within 12 months after the end of the reporting period, which will be classified as non-current assets.

(ii) Financial liabilities Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost.

FAIR VALUE Fair value is determined based on current bid prices for all quoted investments. Valuation techniques are applied to determine the fair value for all unlisted securities, including recent arm’s length transactions, reference to similar instruments and option pricing models.

IMPAIRMENT At the end of each reporting period, the company 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 statement of comprehensive income.

33 tropic al me dic al training

(D) FINANCIAL INSTRUMENTS

a nnual re por t 2010

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.


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2010 (continued)

DERECOGNITION Financial assets are derecognised where the contractual rights to receipt of cash flows expire or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities are derecognised where the related obligations are either discharged, cancelled or expire. The difference between the carrying value of the financial liability extinguished or transferred to another party and the fair value of consideration paid, including the transfer of non-cash assets or liabilities is recognised in profit or loss.

(E) IMPAIRMENT OF ASSETS At the end of each reporting period, the company assesses whether there is any indication that an asset may be impaired. If such an indication exists, an impairment test is carried out on the asset by comparing the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the statement of comprehensive income.

(F) EMPLOYEE BENEFITS Provision is made for the company’s liability for employee benefits arising from services rendered by employees to the end of the reporting period. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled. 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.

(G) CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less.

(H) REVENUE AND OTHER INCOME Revenue is measured at the fair value of the consideration received or receivable after taking into account any trade discounts and volume rebates allowed. Any consideration deferred is treated as the provision of finance and is discounted as a rate of interest that is generally accepted in the market for similar arrangements. The difference between the amount initially recognised and the amount ultimately received is interest revenue. Grant revenue is recognised in the income statement when the entity obtains control of the grant and it is probable that the economic benefits gained from the grant will flow to the entity and the amount of the grant can be measured reliably. When grant revenue is received whereby the entity incurs an obligation to deliver economic value directly back to the contributor, this is considered a reciprocal transaction and the grant revenue is recognised in the state of financial position as a liability until the service has been delivered to the contributor, otherwise the grant is recognised as income on receipt Interest revenue is recognised using the effective interest rate method, which, for floating rate financial assets is the rate inherent in the instrument. Revenue recognition relating to the provision of a service is determined with reference to the stage of completion of the transaction at the end of the reporting period and where outcome of the contract can be estimated reliably. Stage of completion is determined with reference to the services performed to date as a percentage of total anticipated services to be performed. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent that related expenditure is recoverable. All revenue is stated net of the amount of goods and services tax (GST).

(I) TRADE AND OTHER PAYABLES Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period, which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.


(J) 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 Tax 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 the expense. Receivables and payables in the statement of financial position 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.

(K) COMPARATIVE FIGURES

The directors evaluate estimates and judgements incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the company.

2. REVENUE AND OTHER INCOME NOTE

Grant revenue

2010 $

2009 $

9,141,063

6,696,349

222,969

197,161

Other revenue: Interest received

2(a)

Other Income

246,512

65,426

Total Revenue

9,610,544

6,958,936

222,969

197,161

79,312

78,140

126,484

78,820

2,212

1,907

a) Interest received from: Other corporations

3. PROFIT (LOSS) FOR THE YEAR Expenses: Operating lease rentals Depreciation of property plant and equipment Net loss on disposal of non-current assets: Property, plant and equipment

4. KEY MANAGEMENT PERSONNEL COMPENSATION Short-term benefits

359,748

310,636

Total compensation

359,748

310,636

35 tropic al me dic al training

(L) CRITICAL ACCOUNTING ESTIMATES AND ADJUSTMENTS

a nnual re por t 2010

When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current year.


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2010 (continued)

5. AUDITORS’ REMUNERATION NOTE

2010 $

2009 $

24,485

17,230

Cash on hand

1,000

1,200

Cash at bank

3,446,670

2,856,450

3,447,670

2,857,650

22,189

49,998

132

-

22,321

49,998

Auditors’ remuneration

6. CASH AND CASH EQUIVALENTS

7. TRADE AND OTHER RECEIVABLES CURRENT Trade receivables Good and services tax

CREDIT RISK The company has a material credit risk exposure to grant funding bodies, however, any risk is mitigated by grant funding agreements in place with the various funding bodies. The following table details the company’s trade and other receivables exposed to credit risk (prior to collateral and other credit enhancements) with ageing analysis and impairment provided for thereon. Amounts are considered as ‘past due’ when the debt has not been settled within the terms and conditions agreed between the company and the customer or counterparty to the transaction. Receivables that are past due are assessed for impairment by ascertaining solvency of the debtors and are provided for where there are specific circumstances indicating that the debt may not be fully repaid to the company. The balances of receivables that remain within initial trading terms (as detailed in the table) are considered to be of high credit quality.

TRADE AND TERM RECEIVABLES Past due but not impaired: 31 - 60 days overdue

126

6,600

61 - 90 days overdue

325

-

256

7,060

Within initial trade terms

21,482

36,338

Gross amount

22,189

49,998

> 90 days overdue

The company does not hold any financial assets whose terms have been renegotiated, but which would otherwise be past due or impaired.


8. OTHER ASSETS NOTE

2010 $

2009 $

16,491

5,555

Property improvements

205,379

30,544

Less accumulated depreciation

(42,353)

(12,825)

Total property improvements

163,026

17,719

Plant and equipment

15,116

13,480

Less accumulated depreciation

(7,920)

(5,210)

7,196

8,270

CURRENT Prepayments

Less accumulated depreciation Office equipment Less accumulated depreciation Furniture and fittings

386,274

150,872

(112,303)

(54,774)

273,971

96,098

228,751

220,568

(119,752)

(92,465)

108,999

128,103

69,793

61,856

(29,494)

(20,737)

40,299

41,119

8,818

-

Total plant and equipment

439,283

273,590

Total property, plant and equipment

602,309

291,309

Less accumulated depreciation Collectables

(A) MOVEMENT IN CARRYING AMOUNTS For disclosure on movement in carrying amounts please refer to note 20(a) in the end of this financial report.

37 tropic al me dic al training

Computer equipment

a nnual re por t 2010

9. PROPERTY, PLANT AND EQUIPMENT


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2010 (continued)

10. TRADE AND OTHER PAYABLES NOTE

2010 $

2009 $

28,940

36,875

CURRENT Accrued expenses Other payables Trade and Other Payables GPET Grants in advance

1,699

19,751

311,810

347,046

-

104,955

98,224

94,984

GPET Unexpended grants

-

214,285

ACRRM Unexpended grants

-

17,396

RACGP Unexpended grants

-

149,112

422,445

-

Annual Leave entitlements

Accrued grant funding repayable: IHT Salary Reimbursements PGPPP Program Funds

293,065

-

1,156,183

984,404

FINANCIAL LIABILITIES AT AMORTISED COST CLASSIFIED AS TRADE AND OTHER PAYABLES Trade and other payables Total current Amounts received in advance Accrued Grant Funding Repayable Financial liabilities as trade and other payables

16

1,156,183

984,404

-

(485,749)

(715,510)

-

440,673

498,655

11. PROVISIONS EMPLOYEE ENTITLEMENTS: Opening balance at 1 January 2010 Provision movement Balance at 31 December 2010

60,955 (34,120) 26,835

ANALYSIS OF TOTAL PROVISIONS Non-current

26,835

60,955


12. RESERVES NOTE

Trading reserve Transitional reserve

2010 $

2009 $

1,199,750

1,187,423

-

94,420

1,199,750

1,199,750

1,187,423

735,782

12,327

451,641

1,199,750

1,187,423

Opening Balance Transfer from retained earnings

TRADING RESERVE This trading reserve was established to allow TMT to continue functioning for up to 90 days in order to wind up operations in the event that the company ceased operating. Asset replacement reserve: Movements during the year: Opening Balance

-

379,791

Transfer to retained earnings

-

(379,791)

-

-

CAPITAL REPLACEMENT RESERVE This represents funds set aside for the replacement of capital items. The company were advised by GPET during the 2009 year that this reserve is no longer required. The reserve balance of $379,791 was transferred to retained earnings during the 2009 year. These funds may be required to be returned to GPET in future periods, however, at the date of the audit report there was no evidence to support that GPET would require the funds to be returned. Transitional reserve: Movements during the year: Opening Balance

94,420

1,061,358

Transfer from retained earnings

38,691

-

(133,111)

(966,938)

-

94,420

Transfer to retained earnings

TRANSITIONAL RESERVE This reserve represents the unexpended balance of grant money from 31 December 2007 and preceding years. The company, with the approval of GPET, has allocated the funds to be spent in a number of key strategic areas.

39 tropic al me dic al training

Movements during the year:

a nnual re por t 2010

Trading reserve:


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2010 (continued)

13. LEASING COMMITMENTS NOTE

2010 $

2009 $

78,140

78,140

(A) OPERATING LEASE COMMITMENTS Non-cancellable operating leases contracted for but not capitalised in the financial statements Payable: not later than 12 months between 12 months and five years

-

78,140

78,140

156,280

14. RELATED PARTY TRANSACTIONS Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated.

15. ECONOMIC DEPENDENCE The company successfully negotiated a new funding contract with its principal funding body, General Practice Education and Training Limited (GPET), for the delivery of general practice vocational training for the 2010 to 2012 calendar years. The company’s ongoing viability is chiefly dependant on continued contractual arrangements with this organisation to provide GP training. At the date of this report the Board of Directors has no reason to believe the GPET will not continue to support Tropical Medical Training Limited.

16. FINANCIAL RISK MANAGEMENT The company’s financial instruments consist mainly of deposits with banks, local money market instruments, short-term investments, accounts receivable and payable. The totals for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements, are as follows:

FINANCIAL ASSETS Cash and cash equivalents

6

3,447,670

2,857,650

Trade and other receivables

7

22,321

49,988

3,469,991

2,907,638

Total Financial Assets

FINANCIAL LIABILITIES Trade and other payables Total Financial Liabilities

10

440,575

498,655

440,575

498,655


FINANCIAL RISK MANAGEMENT POLICIES The directors’ overall risk management strategy seeks to assist the company in meeting its financial targets, whilst minimising potential adverse effects on financial performance. The Finance, Audit and Risk Management (FARM) Committee, consisting of directors and senior executives of the company, meets on a regular basis to analyse financial risk exposure and to evaluate treasury management strategies in the context of the most recent economic conditions and forecasts. The FARM committee’s overall risk management strategy seeks to assist the company in meeting its financial targets, whilst minimising potential adverse effects on financial performance.

The main risks the company is exposed to through its financial instruments are credit rate risk (refer to Note 7 for details), liquidity risk and market risk relating to interest rate risk.

Credit risk exposures A) LIQUIDITY RISK Liquidity risk arises from the possibility that the company might encounter difficulty in setting its debts or otherwise meeting its obligations related to financial liabilities. The company manages this risk through the following mechanisms: - preparing forward-looking cash flow analyses in relations to its operational, investing and financing activities; - only investing surplus cash with major financial institutions; and - cash reserves are maintained to guarantee 90 days of trading payments. The tables below reflect an undiscounted contractual maturity analysis for financial liabilities. Cash flows realised from financial assets reflect management’s expectation as to the timing of realisation. Actual timing may therefore differ from that disclosed.

NOTE

2010 $

2009 $

Financial liability and financial asset maturity analysis within 1 year

FINANCIAL LIABILITIES DUE FOR PAYMENT Trade and other payables

440,575

498,655

Total contractual outflows

440,575

498,655

Total expected outflows

440,575

498,655

3,447,670

2,857,650

22,321

49,998

FINANCIAL ASSETS - CASH FLOWS REALISABLE Cash and cash equivalents Trade and other receivables Total anticipated inflows

3,469,991

2,907,648

Net (outflow)/inflow on financial instruments

3,029,416

2,408,993

41 tropic al me dic al training

SPECIFIC FINANCIAL RISK EXPOSURES AND MANAGEMENT

a nnual re por t 2010

Risk management policies are approved and reviewed by the FARM committee on a regular basis. These include the credit risk policies and future cash flow requirements.


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2010 (continued)

(B) MARKET RISK (i) Interest rate risk Exposure to interest rate risk arises on financial assets and financial liabilities recognised at the end of the reporting period whereby a future change in interest rates will affect future cash flows or the fair value of fixed rate financial instruments.

SENSITIVITY ANALYSIS The following table illustrates sensitivities to the company’s exposure to changes in interest rates. The table indicates the impact on how profit and equity values reported at the end of the reporting period would have been affected by changes in the relevant risk variable that management considers to be reasonably possible. These sensitivities assume that the movement in a particular variable is independent of other variables.

PROFIT

EQUITY

+/-34477

+/-34477

+/-28575

+/-25575

YEAR ENDED 31 DEC 2010 +/- 1% in interest rates

YEAR ENDED 31 DEC 2009 +/- 1% in interest rates

NET FAIR VALUES Fair value estimation The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the balance sheet and in the notes to the financial statements. For all financial assets and financial liabilities, carrying amount approximates fair value.

17. COMPANY DETAILS The registered office and principal place of business of the company is: Tropical Medical Training Limited TMT House 100 Angus Smith Drive Douglas QLD 4814

18. MEMBERS’ GUARANTEE The company is limited by guarantee. If the company is wound up, the Constitution states that each member is required to contribute a maximum of $10 each towards any outstanding obligations of the company. At 31 December 2010 the number of members was 12 (2009: 12).


19. CASH FLOW INFORMATION (A) RECONCILIATION OF CASH Cash at the end of financial year as shown in the Statement of Cash Flows is reconciled to the related items in the statement of financial position as follows:

Cash Cash at Bank

2010 $

2009 $

1,000

1,200

3,446,670

2,856,450

3,447,670

2,857,650

507,289

(271,604)

(B) RECONCILIATION OF CASH FLOW FROM OPERATIONS WITH PROFIT Profit after income tax Depreciation

126,484

78,820

Movement in equity

239,331

(260,123)

2,212

1,907

43 tropic al me dic al training

Non-cash flows in profit:

a nnual re por t 2010

NOTE

Net (gain)/loss on disposal of plant and equipment Changes in Assets & Liabilities: (Increase)/Decrease in trade and other receivables

27,677

94,978

(10,936)

97,039

Increase/(Decrease) in trade and other payables

171,779

73,653

Increase/(Decrease) in provisions

(34,120)

81,645

1,029,716

(103,685)

(Increase)/Decrease in prepayments

Net cash provided by (used in) operating activities


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2010 (continued)

DIRECTORS’ DECLARATION

20. (a) MOVEMENT IN CARRYING AMOUNTS Movements in carrying amounts for each class of property, plant and equipment.

PROPERTY IMPROVEMENTS $

PLANT AND EQUIPMENT $

COMPUTER EQUIPMENT $

OFFICE EQUIPMENT $

FURNITURE FIXTURES AND FITTINGS $

COLLECTABLES $

TOTAL $

22,305

9,279

65,403

134,932

35,974

-

267,893

Additions

-

1,632

73,237

21,999

10,491

-

107,359

Disposals

-

-

(2,551)

(1,980)

(591)

-

(5,122)

Depreciation expense

(4,586)

(2,641)

(39,991)

(26,848)

(4,755)

-

(78,821)

Carrying amount at 31 December 2009

17,719

8,270

96,098

128,103

41,119

-

291,309

Additions

174,836

1,636

236,062

10,651

7,936

8,818

439,939

Disposals

-

-

-

-

(2,455)

-

(2,455)

Depreciation expense

(31,629)

(2,709)

(57,519)

(28,494)

(6,133)

-

(126,484)

Carrying amount at 31 December 2010

160,926

7,197

274,641

110,260

40,467

8,818

602,309

Balance at 1 January 2009

THE DIRECTORS OF THE COMPANY DECLARE THAT: 1. the financial statements and notes, as set out on pages 8 to 28 are in accordance with the Corporations Act 2001: (a) comply with Accounting Standards and the Corporations Regulations 2001; and (b) give a true and fair view of the financial position as at 31 December 2010 and of the performance for the year ended on that date of the company 2. in the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the Board of Directors.

DIRECTOR DIRECTOR Dr Bruce Cameron

Dated

28th February 2010

Dr Richard Keyes


The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the financial reporting requirements of the company’s constitution. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. In Note 1, the directors also state, in accordance with Accounting Standard AASB 101: ‘Presentation of Financial Statements’, that compliance with the Australian equivalents to International Financial Reporting Standards (IFRS) ensures that the financial report, comprising the financial statements and notes, complies with IFRS.

Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those 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 appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

a nnual re por t 2010

Directors’ Responsibility for the Financial Report

45 tropic al me dic al training

INDEPENDENT AUDIT REPORT TO THE MEMBERS OF TROPICAL MEDICAL TRAINING LIMITED

We have audited the accompanying financial report of Tropical Medical Training Limited (the company) which comprises the statement of financial position as at 31 December 2010 and the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year ended on that date, a summary of significant accounting policies and other explanatory notes and the director’s declaration.


financial statements INDEPENDENT AUDIT REPORT TO THE MEMBERS OF TROPICAL MEDICAL TRAINING LIMITED (continued)

Auditor’s Opinion In our opinion: a. The financial report of Tropical Medical Training Limited is in accordance with the company’s constitution including: (i) giving a true and fair view of the company’s financial position as at 31 December 2010 and of its performance for the year ended on that date; and (ii) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the company’s constitution. b. The financial report also complies with International Financial Reporting Standards as disclosed in Note 1.

Moore Stephens Chartered Accountant Level 2, 21 Stokes Street Townsville, Qld, 4810

DIRECTOR

28th February 2010

Dated

John Zabala FCA

Townsville Moore Stephens (Queensland) Audit Pty Ltd ABN 62 126 208 179


tropic al me dic al training

47

a nnual re por t 2010


TMT House 100 Angus Smith Drive Douglas QLD 4814 PO Box 4056, Vincent 4814

Ph: 07 4729 5000 Fax: 07 4729 5015

T R O P I C A L

M E D I C A LT R A I N I N G

enquiries@medicaltraining.com.au www.medicaltraining.com.au

General Practice Specialists


TMT Annual Report 2010