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Yea & District Memorial Hospital Annual Financial and Performance Report 2009 -2010

Yea & District Memorial Hospital 45 Station Street YEA VIC 3717

Tel: 03 5736 0400 Fax: 03 5797 2391

www.yeahospital.org.au

Our Mission To provide coordinated services that enhance the health and wellbeing of the community.

Our Values Yea & District Memorial Hospital is committed to: Integrity Respect Accountability Responsiveness Impartiality

Our Objectives To provide to persons, entitled under the Act,

medical care, nursing assistance, and / or other support.

To aid persons affected by disease or injured

as a result of accident. To provide facilities for the treatment of both

public and private patients as required. To provide specific services that meet the

needs of the frail, aged and disabled persons in our community.

Contact Details

Yea & District Memorial Hospital 45 Station Street YEA VIC 3717 Tel: 03 5736 0400 Fax: 03 5797 2391

Rosebank Nursing Home 43 Station Street YEA VIC 3717 Tel: 03 5736 0401 Fax: 03 5797 2391

Rosebank Hostel 43 Station Street YEA VIC 3717 Tel: 03 5736 0402 Fax: 03 5797 2391

Email: [email protected] Website: www.yeahospital.org.au

CONTENTS Page

Chair and Chief Executive Officer Report 1 Disclosure Index 2 Manner of establishment and the relevant Minister 4 Objectives Functions, Powers and Duties 4 Statement of Merit & Equity 9 Workforce Data 9 Consultancies 9 Board of Directors 4 Attendance at Board Meetings 5 Senior Officers 6 Organisational Chart 8 Compliance with Occupational Health & Safety Matters 9 Summary of Building Act 1993 9 National Competition Policy 10 Freedom of Information Act 1982 10 Whistleblowers Protection Act 2001 10 Victorian Industry Participation Policy 10 Environmental Performance 10 Performance Priorities 11 Directions of the Minister for Finance Part 9.1.3 (IV) 10 Attestation of Data Integrity 11 Attestation of Compliance with Australian/ New Zealand Risk Management Standard 11

Yea & District Memorial Hospital Annual Financial and Performance Report 2009-2010 1

INTRODUCTION In accordance with the Financial Management Act 1994, I am pleased to present the Report of Operations for Yea & District Memorial Hospital for the year ended 30 June 2010. Tony Jacobs Board Chairman 30 June 2010 Yea & District Memorial Hospital (Y&DMH) reports on its annual performance in two separate documents. This Annual Financial and Performance Report fulfils the statutory reporting requirements to Government by way of an Annual Report and the Quality of Care Report reports on quality, risk management and performance improvement matters. Both documents are presented to the Annual General Meeting and then distributed to the Community. BOARD CHAIRMAN REPORT My report last year highlighted the role of the Hospital in providing medical care and support in the immediate aftermath of the disastrous Black Saturday fires on 7th February 2009. This year, in consultation with the Department of Health, Yea & District Memorial ospital undertook a summer preparedness audit and subsequent building survey which has seen some vegetation removed and an integration of further bushfire protection measures to improve safety. This year, as the Murrindindi Community slowly recovers, Lorina Gray and her staff have been able to focus on the ongoing provision of acute care in the Hospital, accommodation for the elderly in Rosebank Hostel and Nursing Home and Community Health Services through The Grace Bennetts Centre. At the same time the organisation has continued to actively participate in continuous improvement and government practices that included the successful completion of accreditation by The Australian Council on Healthcare Standards in the Acute and Community Health areas. This accreditation process is a mandatory requirement to ensure that the services we provide are delivered safely and are based on best practice evidence. The staff across all areas of the facility were commended on their contribution to continuous quality improvement. As foreshadowed in last year’s report, a major upgrade to the Hospital kitchen was undertaken and I am pleased to report that the project was completed on time and well within budget.

A new emergency generator and other items of much needed Hospital equipment were also purchased. The Hospital again enjoyed another strong financial year, finishing with an operating cash surplus and a strong balance sheet. The Board of Management engaged consultants to assist with a major review of the Hospital’s role in the Community. In addition to examining the various evolving requirements and legislation of the State and Federal Governments, extensive Community feed back was obtained from interested parties in the Yea area. We thank all of those who responded in such a constructive way. As a result of this review, the Board of Management has decided to further broaden the services and support provided to the Community to include a greater emphasis on promoting a healthy life style. This will be supported by the creation of a new position for a Community Health and Wellbeing Officer. This person will work with the Hospital Health Promotion Officer to go out into the Community and promote healthy lifestyle choices. This role will also focus on working with other agencies in our community to develop and implement appropriate programs. The consultants also assisted the Board to review the Vision, Mission Statement and Strategic and Business Plans. During next financial year an expansion of The Grace Bennetts Centre is planned. This will increase space available in the Yea Medical Centre and maximise the usefulness of some of the other spaces in that building. An architect will be appointed during August and construction is expected to start in late 2010. During the year, we were saddened to learn of the death of Marco Bertei. Marco retired from the Board last year after eight and a half years as a member, including five as President of the Board of Management. We express our condolences to his family. Dr Peter Heath was appointed to the Board of Management during the year. As always, we thank Lorina and her staff for another year of exemplary service and also acknowledge the continuing professional, administrative and governance support of Ms. Kerryn Healy, Chief Executive Officer, Tim Elrington, Associated Hospitals Administrator and staff at Goulburn Valley Health. TONY JACOBS


DISCLOSURE INDEX The annual report of Yea & District Memorial Hospital is prepared in accordance with all relevant

Victorian legislation. This index has been prepared to facilitate identification of the Department's

compliance with statutory disclosure requirements. Legislation Requirement Page Reference Ministerial Directions Report of Operations Charter and purpose FRD 22B Manner of establishment and the relevant Ministers 4 FRD 22B Objectives, functions, powers and duties 4 FRD 22B Nature and range of services provided 4 Management and structure FRD 22B Organisational structure 8 Financial and other information FRD 10 Disclosure index 2 FRD 11 Disclosure of ex-gratia payments Financial Report FRD 21A Responsible person and executive officer disclosures Financial Report FRD 22B Application and operation of Freedom of Information Act 1982 10 FRD 22B Application and operation of Whistleblowers Protection Act 2001 10 FRD 22B Compliance with building and maintenance provisions of Building Act 1993 10 FRD 22B Details of consultancies over $100,000 9 FRD 22B Details of consultancies under $100,000 9 FRD 22B Major changes or factors affecting performance Financial Report FRD 22B Occupational health and safety 9 FRD 22B Operational and budgetary objectives and performance against objectives Financial Report FRD 22B Significant changes in financial position during the year Financial Report FRD 22B Statement of availability of other information 11 FRD 22B Statement of merit and equity 9 FRD 22B Statement on National Competition Policy 10 FRD 22B Subsequent events Financial Report FRD 22B Summary of the financial results for the year Financial Report FRD 22B Workforce Data Disclosures 9 FRD 25 Victorian Industry Participation Policy disclosures 10 SD 4.2(j) Report of Operations, Responsible Body Declaration Financial report SD 4.5.5 Attestation on Compliance with Australian/New Zealand Risk Management Standard 11 Financial Statements Financial statements required under Part 7 of the FMA SD 4.2(a) Compliance with Australian accounting standards and other authoritative pronouncements Financial Report SD 4.2(b) Comprehensive Operating Statement Financial Report SD 4.2(b) Balance Sheet Financial Report SD 4.2(b) Statement of Changes in Equity Financial Report SD 4.2(b) Cash Flow Statement Financial Report SD 4.2(c) Accountable officer’s declaration Financial Report SD 4.2(c) Compliance with Ministerial Directions Financial Report SD 4.2(d) Rounding of amounts Financial Report


Legislation Requirement Page Reference Legislation Freedom of Information Act 1982 10 Whistleblowers Protection Act 2001 10 Victorian Industry Participation Policy Act 2003 10 Building Act 1993 9 Financial Management Act 1994 1


RELEVANT MINSTER Yea & District Memorial Hospital (Y&DMH) is established under the Health Services Act 1988. The Responsible Minister during the reporting period is the Hon. Daniel Andrews MP, Minister for Health. OBJECTIVES, FUNCTIONS, POWERS AND DUTIES Objectives, Functions, Powers and Duties of Yea & District Memorial Hospital are described in Operational Practices and By-Laws of the Organisation. Yea & District Memorial Hospital is a single campus facility servicing the Community of Yea and surrounds. The Hospital comprises four key areas, Acute, District Nursing, Residential Aged Care and Community Health. The Acute area has 10 beds and an accident and emergency area. Rosebank Nursing Home and Rosebank Hostel provide the residential aged care service. The nursing home has 10 residents and the hostel 15 residents. Yea & District Memorial Hospital has responsibility for the provision of Community Health services to the west side of the Murrindindi Shire. Housed in The Grace Bennetts Centre, Yea Community Health has a range of services available including a Diabetes Educator, Dietitian, Occupational Therapist, a Psychologist and a Speech Pathologist and Counsellor (Kinglake only). The Hospital also facilitates the provision of Podiatry, Audiology, Physiotherapy, Pathology Collection, Sonography, Optometry, Echocardiography and Psychology services. Yea & District Memorial Hospital has a broad community reach, servicing a population of approximately 6,892 from the Communities of Yea, Glenburn, Kinglake, Flowerdale and surrounds.

GOVERNING BOARD The Board of Management is responsible for the overall management and direction of the Hospital, Hostel and Nursing Home, and meetings are held on the last Tuesday of each month. OFFICE BEARERS President: Mr. Tony Jacobs Committees - Audit Committee Medical Appointments Committee Medical Consultative Committee Senior Vice President: Ms. Jane Finlay Committees – Audit Committee Medical Appointments Committee Medical Consultative Committee Patient Care Review Committee Project Control Committee Treasurer: Mr. Keith Baumgartner Committees - Audit Committee Medical Appointments Committee Medical Consultative Committee Other members Mrs. Anne Wall Committees – Patient Care Review Committee Medical Appointments Committee Medical Consultative Committee Mrs Ruth Crockett Committees - Patient Care Review Committee Audit Committee Ms Kim Chadband Committees - Patient Care Review Committee Audit Committee Medical Appointments Committee Medical Consultative Committee Mrs Sue Neill Committees - Audit Committee Medical Appointments Committee Medical Consultative Committee Project Control Committee


ATTENDANCE AT BOARD MEETINGS

ATTENDANCE AT BOARD MEETINGS

2009

2010

JUL AUG SEP OCT NOV FEB MAR APR MAY JUN

Mr. T. Jacobs A A A

Mr. K. Baumgartner A A

Ms. K. Chadband A A A A

Mrs. R. Crocket

Ms. J. Finlay A

Dr. P. Heath - - A A

Mrs. S. Neill A A

Mrs. A. Wall A X A

IN ATTENDANCE: ABSENT: X APOLOGY: A


SENIOR OFFICERS Chief Executive Officer Ms. Kerryn Healy B. Bus (Acc), CPA, AFCHSE, CHE, FHFM Goulburn Valley Health’s Chief Executive Officer fulfils the role of Chief Executive Officer of Yea & District Memorial Hospital and in that capacity is responsible to the Board of Management for administration of the hospital. The Director of Nursing is responsible for the day to day operations of the Hospital with the support of the Associated Hospitals Administrator. Director of Nursing / Manager Ms. Lorina Gray RN, BHA, GDCH, AFCHSE, CHE The Director of Nursing/Manager is responsible for the management of all clinical and non-clinical services within the organisation. This includes Nursing, Residential Aged Care, Community Health, Hotel Services, Clerical Services, Maintenance, Allied Health Services, Student Placements and Volunteers. Lorina also oversees the operational management of Quality Improvement, Risk Management, Occupational Health and Safety, Infection Control, and Complaints Management and Freedom of Information requests. Executive Director Finance & Corporate Services Mr. Shaun Eldridge B.Bus (Acc), MBA, CPA The Director of Finance & Corporate Services role has responsibility for the financial management and reporting requirements to the Board of Management, the Director of Nursing/Manager and external bodies including the Department of Health.

Associated Hospitals Administrator Mr Tim Elrington Cert. Bus., Grad Diploma Business IR, Cert. Qual. Assurance, AFCHSE, CHE The Associated Hospitals Administrator is delegated by the Chief Executive Officer to assist the Director of Nursing/Manager in providing effective administration, management and organisation of Yea & District Memorial Hospital. Tim attends and compiles minutes of Board of Management and Sub Committee meetings. Tim also liaises and maintains networks with Executive Directors and Department Managers at Goulburn Valley Health in regard to services provided. He is also involved in the project management and financial management of building, refurbishment and extension projects. Chief Medical Officer Dr. Bruce Warton RFD, MBBS, BHA, Grad Dip Health & Medical Law, DTM&H, AFCHSE, CHE, FRCSEd, FRCOG, FRANZCOG, FRACMA The Chief Medical Officer has professional responsibility for Visiting Medical Officers, biomedical engineering services and medico legal advice. The Chief Medical Officer also undertakes medical credentialing and provides advice to the Board of Management about the appointment of Visiting Medical Officers. Director of Medical Services (Onsite) Dr Richard (Rick) Lowen MBBS, DipObsRCOG, FRACGP, AFCHSE CHE The Director of Medical Services (Onsite) provides clinical advice to the organisation, contributes to Patient Care Review meetings and supports Yea's Visiting Medical Officers. He attends the Yea & District Memorial Hospital monthly - during which time, he attends Medical Staff Group meetings, reviews clinical policies of the Hospital, provides advice and support to the General Manager and staff, and responds to day to day operational issues of medical import.


COMMITTEES The Yea & District Memorial Hospital Board of Management uses a sub committee structure where recommendations are put to the Board for consideration and, if appropriate, resolution. The main functions of the Board of Management and its sub-committees are as follows: THE BOARD OF MANAGEMENT The Board of Management comprises up to 9 members, each appointed by the Governor-in-Council to serve a three year term. Each year in June a number places on the Board become vacant and a notice is placed in the Yea Chronicle calling for nominations. The Board of Management is responsible for the overall management and direction of the Hospital. Board meetings are held on the last Tuesday of each month. HOSPITAL EXECUTIVE The Hospital Executive comprises the Board President, Vice-President, and the Treasurer. The Executive may be authorised to deal with matters of importance between Board meetings. PATIENT CARE REVIEW COMMITTEE The Patient Care Review Committee reports to the Board of Management on the quality of patient/resident services and investigates complaints relating to patient care. The Committee also monitors health promotion and health education and oversees/monitors Quality Assurance, Infection control and Risk Management. This Committee usually meets monthly. PLANNING COMMITTEE The Planning Committee meets as required and is primarily responsible for identifying those services which require modification and for ensuring the Hospital has sufficient facilities to meet both current and likely future service demands. MEDICAL APPOINTMENTS ADVISORY COMMITTEE The Medical Appointments Advisory Committee meets as required and reports to the Board of Management in relation to the appointment of medical practitioners.

CREDENTIALS COMMITTEE The Credentials Committee examines and defines the clinical credentials and areas of clinical responsibility for all Visiting Medical Officers (VMOs). This Committee meets when required. MEDICAL CONSULTATIVE COMMITTEE The function of the Medical Consultative Committee is advisory, however it is the body established to consider any differences that may arise between the Board of Management, and/or Officers, and the Medical Staff Group. OCCUPATIONAL HEALTH AND SAFETY COMMITTEE (OH&S) This Committee consists primarily of staff members however a Board of Management representative may serve as a Committee member. As the name suggests, this Committee meets to deal with issues relating to Hospital staff, visitor, patient and resident safety – both perceived and actual. Meetings are held quarterly. AUDIT COMMITTEE The Audit Committee, a sub-committee of the Board, oversees the preparation and periodic review of the internal audit program. The Committee ensures the Organisation exercises due diligence in the specific areas of financial and risk management functions.


ORGANISATIONAL CHART

Quality & Risk Management

BOARD OF MANAGEMENT Yea & District Memorial Hospital

CHIEF EXECUTIVE OFFICER

DIRECTOR OF NURSING / MANAGER

Nursing Services

Hotel Services

Aged Care Services

Occupational Health and Safety

Clerical Services

Maintenance Services

Infection Control

Community Health

Volunteers / Students

Onsite Director of Medical Services

Director of Finance & Corporate Services

Chief Medical Officer

Associated Hospitals

Administrator


WORKFORCE DATA

Labour Category

June Current Month

FTE

June YTD FTE

Nursing 21.92 21.04Administration & Clerical 2.72 2.88Hotel & Allied Health Services 13.98 15.45Medical Officers 0.04 0.04Allied Health 0.42 0.51Total 39.08 39.92

Yea & District Memorial Hospital staff are required to abide by the Yea & District Memorial Hospital Code of Conduct which is based on the Code of Conduct for Victorian Public Sector Employees. In addition, approximately 40 volunteers support Yea & District Memorial Hospital. STATEMENT OF MERIT & EQUITY Yea & District Memorial Hospital ensures a fair and transparent process for recruitment, selection, transfer and promotion of staff. It bases its employment selection on merit, and complies with relevant legislation. Yea & District Memorial Hospital has policies and procedures in place that ensure employees are respected and treated fairly. These policies also provide avenues for grievance and complaint processes. CONSULTANCIES UNDER $100,000 Yea & District Memorial Hospital commissioned two consultancies during the year at a total cost of $18,425.40. There were no consultancies commissioned over $100,000 during the 2009/2010 year.

COMPLIANCE WITH OCCUPATIONAL HEALTH AND SAFETY MATTERS Yea & District Memorial Hospital monitors Occupational Health and Safety issues through the Occupational Health and Safety Committee which reports to the Board of Management. During the 2009/2010 financial year 3 work injuries were recorded with 54 days lost. Worksafe made one inspection which resulted in no corrective actions against the organisation. SUMMARY OF THE BUILDING ACT 1993 Yea & District Memorial Hospital has a plan in place to ensure compliance with the provisions of the Building Act 1993. During 2009-2010 the following project has been undertaken: Kitchen Redevelopment Project Assessment Fire Safety Certificates of Compliance were supplied to the Department of Health for the following sites: Yea & District Memorial Hospital, 45 Station

Street, Yea. Building Works New Occupancy Permits or Certificates of Final Inspection have been issued for the following buildings or building alterations: Kitchen Redevelopment Project Essential Safety Measures Yea & District Memorial Hospital buildings constructed after 1994 have been designed to conform to The Building Act 1993 and its Regulations, as well as to meet other statutory regulations that relate to health and safety matters. All have been issued with Occupancy Permits. Compliance involves ensuring that all essential safety measures covered by the Regulations are being maintained to fulfil their purpose. It also involves keeping records of maintenance checks, completing an Annual Essential Safety Measures Report, and retaining records and reports on the premises for inspection by the Municipal Building Surveyor or the Chief Fire Officer on request. Essential Safety Measures Reports are prepared annually for properties owned by Yea & District Memorial Hospital to confirm that all of the essential safety services are operating at the required level of performance.

Yea & District Memorial Hospital Full TimeEquivalent Staff Employed June 2010

Nursing

Administration &Clerical

Hotel & Allied HealthServices

Medical Officers

Allied Health


Fire Audit Compliance The following Fire Audit is current for the following building: Yea & District Memorial Hospital, 45 Station

Street, Yea – September 2009. FREEDOM OF INFORMATION ACT 1982 The Hospital received three (3) requests from persons seeking information of a medical nature under the Freedom of Information Legislation in 2009/2010. WHISTLEBLOWERS PROTECTION ACT 2001 Yea & District Memorial Hospital has established a reporting system for whistleblower disclosures and has instituted written procedures for handling them. There have been no protected disclosures under the Act during 2009/2010. NATIONAL COMPETITION POLICY Yea & District Memorial Hospital complied with all government policies regarding competitive neutrality in regard to tender applications. VICTORIAN INDUSTRY PARTICIPATION POLICY (VIPP) Yea & District Memorial Hospital abides by the principles of the Victorian Industry Participation Policy. In 2009/2010 there were no projects that fell under the requirement of the VIPP. ENVIRONMENTAL Yea & District Memorial Hospital is committed to environmental sustainability in work practices across the organisation. The Hospital has a well established general recycling program. This year we have been in discussion with Murrindindi Shire Council to establish an e-waste recycling program for the Hospital’s redundant equipment and staff personal e-waste. A water audit, funded by the Department of Health under the Greening Our Hospital program highlighted the areas for increased water savings across the Organisation. Outdated (but still functional) hospital equipment is donated to overseas countries with the assistance of the Yea Rotary Club. While our car fleet is small we are changing to four cylinder models where appropriate.

DIRECTIONS OF THE MINISTER FOR FINANCE PART 9.1.3 (IV) In compliance with the requirements of the Standing Directions of the Minister for Finance details in respect of the items listed below have been retained by Yea & District Memorial Hospital and are available to the relevant Minister, Members of Parliament and the public on request

(a) Declarations of pecuniary interests has been completed;

(b) Details of shares held by senior officers as nominee or held beneficially;

(c) Details of publications produced by the Department about the activities of the Health Service and where they can be obtained.

(d) Details of changes in prices, fees, charges, rates and levies charged by the Health Service;

(e) Details of any major external reviews carried out on the Health Service;

(f) Details of major research and development activities undertaken by the Health Service that are not otherwise covered either in the Report of Operations or in a document that contains the financial statements and Report of Operations.

(g) Details of overseas visits undertaken including a summary of the objectives and outcomes of each visit;

(h) Details of major promotional public relations and marketing activities undertaken to develop community awareness of Yea & District Hospital and its services;

(i) Details of assessments and measures undertaken to improve occupational health and safety of Yea & District Memorial Hospital employees;

(j) General statement on industrial relations within Yea & District Memorial Hospital and details of time lost through industrial accidents and disputes; and

(k) A list of major committees sponsored by Yea & District Hospital, the purpose of each committee and the extent to which the purposes have been achieved.


Performance Priorities Admitted Patient AcuteSeparations Same Day 10Multi Day 250Total Separations 260 Emergency 213Elective 44Other including Maternity 3Total Separations 260 ATTESTATION OF DATA INTEGRITY I, Kerryn Margaret Healy certify that Yea & District Memorial Hospital has put in place appropriate internal controls and processes to ensure that reported data reasonably reflects actual performance. Yea & District Memorial Hospital has critically reviewed these controls and processes during the year.

Kerryn Margaret Healy CHIEF EXECUTIVE OFFICER June 2010

ATTESTATION OF COMPLIANCE WITH AUSTRALIAN/NEW ZEALAND RISK MANAGEMENT STANDARD I, Kerryn Margaret Healy certify that Yea & District Memorial Hospital has risk management processes in place consistent with the Australian/New Zealand Risk Management Standard and an internal control system is in place that enables the executives to understand, manage and satisfactorily control risk exposures. The audit committee verifies this assurance and that the risk profile of Yea & District Memorial Hospital has been critically reviewed within the last 12 months.

Kerryn Margaret Healy CHIEF EXECUTIVE OFFICER June 2010

Yea & District Memorial Hospital Annual Financial Report 2009-2010 1

ANNUAL FINANCIAL REPORT

JUNE 2010

CONTENTS

Disclosure Index – Page 2

Summary of Financial Results for the Year – Page 4

Revenue Indicators – Page 4

Significant Changes in Financial Position – Page 5

Operational & Budgetary Objectives & Factors Affecting Performance – Page 5

Events Subsequent To Balance Date - Page 5

Appendix 1 – Auditor General Report

Appendix 2 – Accountable Officer’s declaration

Appendix 3 – Financial Statements at 30 June 2010

including note to Financial Statements


DISCLOSURE INDEX The annual report of Yea & District Memorial Hospital is prepared in accordance with all

relevant Victorian legislation. This index has been prepared to facilitate identification of the

Department's compliance with statutory disclosure requirements. Legislation Requirement Page/Note Reference Ministerial Directions Report of Operations Charter and purpose FRD 22B Manner of establishment and the relevant Ministers Report of Operations FRD 22B Objectives, functions, powers and duties Report of Operations FRD 22B Nature and range of services provided Report of Operations Management and structure FRD 22B Organisational structure Report of Operations Financial and other information FRD 10 Disclosure Index Report of Operations FRD 11 Disclosure of ex-gratia payments Appendix 3 note 22 FRD 21A Responsible person and executive officer disclosures Appendix 3 note 20 FRD 22B Application and operation of Freedom of Information Act 1982 Report of Operations FRD 22B Application and operation of Whistleblowers Protection Act 2001 Report of Operations FRD 22B Compliance with building and maintenance provisions of Building Act 1993 Report of Operations FRD 22B Details of consultancies over $100,000 Report of Operations FRD 22B Details of consultancies under $100,000 Report of Operations FRD 22B Major changes or factors affecting performance Page 5 FRD 22B Occupational health and safety Report of Operations FRD 22B Operational and budgetary objectives and performance against objectives Page 5 FRD 22B Significant changes in financial position during the year Page 5 FRD 22B Statement of availability of other information Report of Operations FRD 22B Statement of merit and equity Report of Operations FRD 22B Statement on National Competition Policy Report of Operations FRD 22B Subsequent events Page 5 FRD 22B Summary of the financial results for the year Page 4 FRD 22B Workforce Data Disclosures Report of Operations FRD 25 Victorian Industry Participation Policy disclosures Report of Operations SD 4.2(j) Report of Operations, Responsible Body Declaration Appendix 2 SD 4.5.5 Attestation on Compliance with Australian/ New Zealand Risk Management Standard Report of Operations Financial Statements Financial statements required under Part 7 of the FMA SD 4.2(a) Compliance with Australian accounting standards and other authoritative pronouncements Appendix 3 note 1a SD 4.2(b) Comprehensive Operating Statement Appendix 3 SD 4.2(b) Balance Sheet Appendix 3 SD 4.2(b) Statement of Changes in Equity Appendix 3 SD 4.2(b) Cash Flow Statement Appendix 3 SD 4.2(c) Accountable officer’s declaration Appendix 2 SD 4.2(c) Compliance with Ministerial Directions Appendix 3 note 1a SD 4.2(d) Rounding of amounts Appendix 3 note 1d


Legislation Requirement Page/Note Reference Legislation Freedom of Information Act 1982 Report of Operations Whistleblowers Protection Act 2001 Report of Operations Victorian Industry Participation Policy Act 2003 Report of Operations Building Act 1993 Report of Operations Financial Management Act 1994 Report of Operations


SUMMARY OF FINANCIAL RESULTS FOR THE YEAR

2009/10 2008/09 2007/08 2006/07 2005/06

$'000 $'000 $'000 $'000 $'000

Total Revenue

4,285,427

4,541,815

4,141,579

3,733,971 3,807,018

Total Expenses

4,332,462

4,191,057

4,219,625

4,115,220 3,815,193 Operating Surplus/(Deficit)

(47,035)

350,758

(78,046)

(381,249)

(8,175)

Total Assets

15,252,535

14,767,232

14,692,627

10,081,974

10,128,388

Total Liabilities

2,094,415

1,562,077

1,600,124

1,665,896 1,331,061

13,158,120

13,205,155

13,092,503

8,416,078 8,797,327

Asset Revaluation Reserve

5,521,465

5,521,465

1,054,038

1,054,038 1,054,038

General Purpose Reserve

2,410,906

2,261,049

1,957,992

1,843,788 1,668,914

Contributed Capital

2,447,447

2,447,447

2,447,447

2,398,509 2,398,509

Accumulated Deficits

2,778,302

2,975,194

2,927,493

3,119,743 3,675,866

Total Equity

13,158,120

13,205,155

8,386,970

8,416,078 8,797,327

Revenue Indicators Average Days to

Collect

2009/10 2008/0

9

Private Inpatients

116.96 65.24 Transport Accident Commission Victorian Workcover Authority All Other Patient Fees Residential Aged Care (Exl. Commonwealth Benefits) 40.80 38.24

Debtors Outstanding 30th June 2010 Under

30 Days 31-60 Days

61-90 Days

Over 90

Days Total

30/06/2010 Total

30/06/2009

Private Inpatients 22,453 3,983 2,218

11,206 36,060 70,837

Transport Accident Commission Victorian Workcover Authority All Other Patient Fees Residential Aged Care (Exl. Commonwealth Benefits)

24,871 12,017 6,738 - 43,626 33,645

47,324 16,000 8,956

11,206 79,686 104,482


SIGNIFICANT CHANGES IN FINANCIAL POSITION The cash assets of Yea and District Memorial Hospital (Y&DMH) have increased this financial year due, in the main, to an increase in funding from the DH. Y&DMH are accruing to give more than the increase in cash back to the DH as this amount largely reflects overfunding for activity performed. This is reflected in the Payables balance. Equity has decreased during the year by the entity result for 2009-2010 of $47,035 deficit. OPERATIONAL & BUDGETARY OBJECTIVES & FACTORS AFFECTING PERFORMANCE The Board budgeted for a break even financial position before capital items and depreciation for the 2009-2010 year. The final result for the year was a surplus of $188,463 before capital items and depreciation. The major factor contributing to this positive result was that salaries and wages costs were well under budget. EVENTS SUBSEQUENT TO BALANCE DATE There have been no events subsequent to balance date that will have a significant effect on the operations of the health service in subsequent years.

Auditing in the Public Interest

VAGOVictorian Auditor-General's Office

INDEPENDENT AUDITOR'S REPORT

To the Board Members , Yea and District Memorial Hospital

The Financial ReportThe accompany ing financ ial repo rt for t he year ended 30 June 2010 of the Yea and District Memo r ialHospital which compr ises the comprehensive operating stateme nt , b alance sheet, statement of c hangesin equ i ty , cash flow statement, a summary of s ign ifi cant accounting pol icies and other explanatory notes toand form ing part of the financia l report , and the board member's, accountable off i cer's and chief finance &account ing officer's dec lar ation , has been aud i ted .

The Board Members Responsibility for the Financial ReportThe board members of the Ye a and D i str ict Memorial Hosp i t al are responsib l e for the preparation and fa i rprese ntation of the financia l report i n accordance w ith Australian Account ing Standards , inc l uding theAustralian Accounting Interpretations , and the financial report ing requ i rements of the FinancialManagement Act 1994. This respons i bil it y includes :

• es tab l i s hing and maintaining interna l contro ls relevant to the preparat ion and fair presen tat i on of thefinancial repo rt that is free from mater i al m i sstatement , whether d u e to fraud o r e r ror

• selec t i ng and applying appropr i ate accounti ng polic i es• mak ing acco unting est imates that a re reasonable in the circumstances .

Auditor's ResponsibilityAs requ ired by the Audit Act 1994, my respons i bility i s to exp ress an opinion on t he f inancial report basedon the audit , which has been conducted in acco rdance with Australian Auditing Standards . TheseStandards requ ire compliance with r elevant et hical requ irements relating to aud it engagements a nd thatthe aud it be planned and performed to obtain reasonable assurance whether the financ ial report i s freefrom material misstatement .

An audit involves performing proce dures to obtain aud it evidence abou t the amounts and d isclosures inthe financia l report . The aud i t procedures se lected depend on judg ement , i ncluding the assessment of therisks of mate rial misstatement of the fi nanc ial report, whether due to fraud or error. In making those r iskassessments , considerat ion is given to the internal cont rol relev ant to the entity's preparat ion and fai rp res enta t ion of the financial report in o rder to design audit p rocedures that a re appropriate in thec ircumstances , bu t not for the purpose of express ing an opinion on the effectiv eness of the entity'sinternal control . An audit also includes evaluati ng the app ropriateness o f t he accou n t ing pol icies used, andthe reasonableness of accounting estimates made by the board members , as well as evaluating theoverall p resenta tion of the fin anci al report .

bel i eve that the aud it evidence I have obtaine d is suffic i ent and appr opriate to p rovide a basis for myaudit opin ion .

Leve l 24 , 35 Co l lins Street, Melbourne Vic. 3000Telephone 61 3 8601 7000 Facsimile 6 1 3 8601 7010 Email comments@aud i l . vi c.gov .au Webs ite www.audit . vi c.gov.au

In my opinion , the financial report presents fa i r ly, in al l materi al respects , the f inancial position of the Yeaand D istrict Memor ia l Hosp i tal as at 30 June 201 0 and i ts f inancia l performance and cash flows f or theyear then ended in accordance with appl icable Austra l ian Accou n t ing Standards , in clud ing the Aus tra li a nAccoun ting Interpre tations, and the financia l reporti ng requiremen ts of the Financial Management Act1994.

~.~ ..~ .`

-~s-D D R Pearson \Auditor-General

MELBOURNE25 August 20 1 0

A uditing in the Public In terest

VAGOVictorian Auditor-General's Office

Independent Auditor 's Report (continued)

Matters Relating to the Electronic Presentation of the Audited Financial ReportThis audito r's repor t rela tes to th e financ i al report pub l ished in both the annua l report and o n the websi teof the Yea and D i st r i ct Memori al Hospita l for the year ended 30 June 2010 . The board members of thehosp i tal are respons i ble for t he integrity of the web site . I have not b een engaged to repor t on the inte g rityof the web s i te . The audito r' s report refers only to th e statements na med above . An opin ion is notprovided on any othe r information wh ich may have been hyperlinked to o r from these sta tements . If usersof this repo r t are concerned with the inherent risks arising from e lectron ic data communications , they areadvised to refer to the h ard copy of the a ud ited financ ial rep ort to confirm th e informat ion i ncl uded in theaudited financia l report presented on the hosp i tal's web s i te.

IndependenceThe Audi tor-General ' s indep endence is established by the Constitution Act 1975. The Aud i tor -General isnot subject to d irec tion by any person about the way in whi ch his powers a nd respons ib i l i t i es are to beexercised . In conducting the aud it , the Audi tor -General , his staff and delegates comp lied with a llapplicab le independen ce requ iremen ts of the Austral ian account ing profess ion .

Auditor 's Opinion

Level 24, 35 Coll i ns Stree t, Melbourne V ic. 3000Telephone 6 1 3 860 1 7000 Facsimile 61 3 8601 70 1 0 Email comments@aud it .vic .gov .au Website www.aud it .vic .gov .au

We authorise the attached financial statements for issue on

this day .

Icv

ane FI lay Kerry argaret Healy Shaun Andrew EldridgeActing President Accountable Officer Chief Finance & Accounting Officer

Yea Shepparton24 August 2010 24 August 2010

Shepparton24 August 2010

Yea & District Memorial Hospital

hoard Member's, AccountableOfficer's and Chief Finance &

Accounting Officer's Declaration

We certify that the attached financial statements for Yea &

District Memorial Hospital have been prepared in

accordance with Standing Direction 4 .2 of the Financial

Management Act 1994, applicable Financial Reporting

Directions, Australian Accounting Standards, Australian

Accounting Interpretations and other mandatory

professional reporting requirements .

We further state that, in our opinion, the information set

out in the Comprehensive Operating Statement, Balance

Sheet, Statement of Changes in Equity, Cash Flow

Statement and notes to and forming part of the financial

report, presents fairly the financial transactions during the

year ended 30 June 2010 and the financial position of Yea

& District Memorial Hospital at 30 June 2010 .

We are not aware of any circumstance which would render

any particulars included in the financial statements to be

misleading or inaccurate .

Total Total2010 2009

4

(47,035) 4,818,185COMPREHENSIVE RESU LT FOR THE YEAR

This Statement should be read In conjunction with the accompanying notes .

YEA & D ISTRICT MEMO RIAL HOSPITALCOMPREHENS IVE OPERATING STATEMENTFOR THE YEAR ENDED 30 J UNE 2010

Revenue from Operati ng Acti vi t ie sRevenue from Non-operating Act ivitiesEmployee BenefitsNon Salary Labour CostsSupp li es & ConsumablesOther Expenses from Continuing Opera tionsNet Result Before Capital & Specific Items

Capital P urpose IncomeDeprec i ation

NET RESULT FOR THE YEAR

Other Comprehensive IncomeNet fair value rev al ua tion on Non Financ i al Asse t s

4,049,344 4,191,644150,553 191,747

(2,849,902) (2,814, 864)(193,822) (152,543)(238,583) (222,209)(729 127) (732,077)188,463 461,698

85 ,530 158,424(321 ,028) (269,364 )

(47 ,035 ) 350,758

4,467,427

Notes Total Total2010 2009S *~

Current AssetsCash and Cash Equivalents 5 569,731 986,524Receivables 6 147,415 212,938Other Financial Assets 7 3,300,000 2,509,090Other Current Assets 8 23,272 13,597Total Current Assets 4,040,418 3,722,149

1 1

13,168,120 13 , 20 5 ,155

1716

Contingent Liabilities and Contingent AssetsCommitments for Expenditure

This Statement should be read i n conjunction with the accompanying notes .

YEA & DISTRICT MEMORIAL HOSPITALBALANCE SHEETAS AT 30 JUNE 2010

Non-Curre nt Asse tsReceivablesProperty, Plant & EquipmentTota l Non-Current Assets

TOTAL ASSETS

Current LiabilitiesPayabfesEmployee Benefits and Related On-Costs ProvisionsOther LiabilitiesTotal Current Liabilities

Non-Current LiabilitiesEmployee Benef its and Related O n-Costs Pro vi sionsTotal Non-Current Liabilities

TOTAL LIABILIT IES

NET ASSETS

EQUITYProperty, Plant & Equ ipment Revaluation Sur pl usGeneral Pu rpose ReserveContributed Capit alAccumulated SurplusesTOTAL EQUITY

101112

4 ,816 26,71111 ,207 301 11 ,0 1 8 , 37211,212,117 11 ,045 083

15 252 ,535 14 767 ,232

617 ,566 204 , 1 1 9534 , 140 546,784840,301 731,581

1,992 ,007 1 ,482,484

102,408 79,593102,408 79,593

2 ,094 ,415 1 ,562,077

13a 5,521 ,465 5,521 ,4651 38 2 ,410 , 906 2 ,261,04913b 2,447 ,447 2,447 ,44713c 2,778,302 2,975 19413d 13,158,120 13,205 , 155

Equi ty at Comprehensive Equity at0 1 -July -2009 Result 30-June-20 1 0

2010 Notes $ $ $

Contribution by Owners 13b

8 ,386 ,970 4,818,186 13,206,165Total Equity at the and of the financial year

This Statement should be read in conjunct ion with the accompany ing notes .

YEA & DISTRICT MEMORIAL HOSPITALSTATEMENT OF CHANGES IN EQUITYFOR THE YEAR ENDED 30 JUNE 2010

Accumulated SurplusTransfer (To)/From General Reserve

Contribution by Owners

ReservesProperty P lant and Equ ipment Revaluation Surpl usGeneral Reserve

Total Equity at the en d of the financial y ear

Accumulated SurplusTransfer (To)/F rom General Reserve

13b

13a138

ReservesProperty P l a nt and Equipment Re valuatio n Surp lus 13aGeneral Reserve 13a

2 ,975,1 94 (47,035) 2,928,159(149,857) (149 857)

2,975, 1 94 (196,892) 2,778,3 02

2 ,447 ,447 - 2,447 ,447

5,521,465 - 5,521,4652,261,049 149,857 2,410,9067,782,514 149,857 7,932,371

13,205,155 (47,035) 73,158,120

Equity at Compreh ensive Equity at01 -July-2008 Result 30 -June-2009

2,816,183 356 ,758 3,166,941(191,747) (191,747)

2,8 16 ,1 83 159,011 2 ,976,194

2,447,447 - 2,447,447

1,054,038 4,467,427 5,521,4652,069,302 191,747 2,261,0493,123,340 4,659,174 7,782,514

Notes Total Total2010 2009

14

9,556 957,838CASH AND CASH EQUIVALENTS AT END OF PERIOD

Th is Statement shou ld be read i n conjunct i on wi th t he accompanying notes .

YEA & DISTRICT MEMORIAL HOSPITALCASH FLOW STATEMENTFOR THE YEAR ENDED 30 JUNE 2010

CASH FLOWS FROM OPERATING ACTIVITIESOperating Grants from GovernmentPatient and Resident Fees ReceivedDonations ReceivedInterest ReceivedOther ReceiptsEmployee Benefits PaidFee for Service Medical OfficersPayments for Supplies & ConsumablesGST Received from/(paid to) ATO

Cash G enerated from Operations

Other Capital ReceiptsNET CASH INFLOW/(OUTFLOW) FROM O PERATINGACTIVITIES

CASH FLOWS FROM INVEST ING ACTIV ITIESPayments for Non-Financial AssetsProceeds from Sale of Non-Financial AssetsPurchase of InvestmentsNET CASH INFLOW/(OUTFLOW) FROM INVEST INGACTIVITIES

NET INCREASE/(DECREASE) IN CASH HELD

CASH AND CASH EQU IVALENTS AT BEG I NNING OF PER IOD

3,131,734 2,673,5171,292,428 1,267,49227,344 102,838149,838 200,628168,526 202,057

(2,839,732) (2,889,343)(193,822) (152,543)

(1,116,555) (1,004,296)109,681 83,021729,442 483,371

54,659 45,932

784 ,101 529,303

(508,914) (150,868)166 26,725

(1,223,636) (9,090)

( 1 ,732 ,384) (133 ,233)

(948,283 ) 396,070

957 ,838 561 ,768

The financia l statements are prepared in accordance with the h istorica l costconvention, except for t he revaluat ion of ce rtain non -f inanc ial assets a ndfinancial inst ruments, as noted . Particularly, exceptions to the his torical costconven tion inc l ude:

Yea and District Memorial HospitalNotes to the Financial Statements

30 June 2010

Note 1: Stdatement of Significant AccountingPolicies

a) Statement of complianceThese financial statements are a general purpos e financial report which havebeen prepared in accordance with the Financial Management Act 1994 andappl icable Australian Accounting Standards (AAS s) and Au stra l ian Accounti n gInterpretations and other mandatory requirements . AASs include Australianequ iva lents to Inte rnational F inanc ial Reporting Standards.

The financial statements also complies with rel evant Financial Repor t i ngDirections (PROs ) issued by the Department of Treasury and Finance, andrelevant Standi ng D irections (SDs) autho rised by the M inister for Finance .

The Health Service is a not-for prof it entity and th erefore app l ies theadd itional Aus paragraphs applicable to "not-for-profit" Health Serv ices underthe AAS 's .

b} Basis of accounting preparation and measurementThe accounting pol i cies se t out below have bee n applied in prepar ing thefinancial statements for the year ended 30 June 2010, a nd the comparativeinfo rmat ion presented in these financia l statements for the yea r ended 30June 2009 .

Accounting policies are se lected and applied i n a manner which ensu res thatthe resulting financ ial informa tion satisf ies the concepts of re l evance andrel i abil ity, the reby ensu ri ng that the sub stance of the underlying t ransact ion sor other events is reported .

The going concern basis was used to prepare the financial statements .

The financial statements, except for cash flow information, have beenprepared using the accrual basis of accounting . Under the accrual basis,items are recognised as assets, liabilities, equity, income or expenses whenthey satisfy the definitions and recognition criteria for those items, that isthey are recognised in the reporting period to which they relate, regardlessof when cash is received or paid .

Figu res in th e fi nancial statements may not equ a l due to round ing .

Yea and Distric t Memorial HospitalNotes to the Financial Statements

301nnc 20 10

• Non-current phys ical assets, wh ich subsequent to acquisition, aremeas ured at valua tion and ar e re-assessed w ith sufficient regu la rityto ensure that the carryi ng amounts do not m aterially d iffer from the irfair values ;and

• Available -for-sale I nvestments which are measured at fa i r value wi thmovements ref lected in equity until th e asset is derecognised .

Historical Cost is based on the fair values of the consideration given inexchange for assets .

Cost is based on the fa i r value s of the considerat ion given i n exchange forassets .

In the application of AASs management is required to make judgments,estimates and assumptions about ca rrying values of assets and liab il itie s th atare not readily apparent from other sources . The estimates and associatedassumpt ions are based on histor ical experien ce and var ious o t her facto rsthat are be l ieved to be reasonab l e unde r the circumstances, the re su lts ofwhich form the basis of mak ing the judgments. Actual results may diffe rfrom these estimate s .

The estimates and underlying assumpt ion s are rev iewed on an ongoingbasis , Revisions to accounting estimate s are recognised in the per iod inwhich the es timate is revised if the revi sion affects on ly that period or in theper iod of the rev is ion, and future periods if the revision affects both cu rrent

a n d future periods .

c) Reporting EntityThe financial statements includes all the control led act i vit ies of Yea & D istr i ctMemorial Hospital .

Its principal address is :45 Station StreetYeaVictoria, 3717

d) Rounding Of AmountsAll amounts shown in the financial report are expressed to the nearest $1unless otherwise stated .


30 Jane 2010

All f i nancial assets, except tho se measured at fair va lue thro ugh profit andloss a re subj ect to annual revie w for impai rment .

e) Functional and Presentation Currency

The presentation currency of the Yea & District Memorial Hospital is theAustralian dollar, which has also been identified as the functional currency ofthe Health Service,

f) Cash and Cash EquivalentsCash and cash equivalent s compr ise cash o n hand and cash at bank, depositsat call and hig hly liqu id investments with an origina l matu rity o f 3 months orless, which a re readily converti ble to known a mounts of cash and are subjectto Insignificant ri sk of changes in value .

g) ReceivablesTrade debtors are carried at nominal amounts due and are due forsettlement within 30 days from the date of recognition . Collectability of debtsis reviewed on an ongoing basis, and debts which are known to beuncollectible are written off. A provision for doubtful debts is recognisedwhen there is objective evidence that an impairment loss has occured . Baddebts are written off when Identified .

Receivables are recognised initially at fair value and subsequently measuredat amortised cost, using the effective interest rate method, less anyaccumulated impairment .

h) Investments and Other F inancial AssetsOther financial assets are recognised and derecognised on trade date wherepurchase or sale of an investment is under a contract whose terms requiredelivery of the investment within the timeframe established by the marketconcerned, and are initially measured at fair value, net of transaction costs .

The Yea & District Memorial Hospital classifies its other financial assetsbetween current and non-current assets based on the purpose for which theassets were acquired . Management determines the classification of its otherfinancial assets at initial recognition .

Yea & D istrict Memor ial Hos pital assesses at each ba lance sheet datewhether a financia l asset or group of fina ncial assets is impa ired .

j) Revaluat ions of Non-current Physical Ass etsNon-current physical assets measured at fair value are revalued inaccordance with FRD 103D Non-current physical assets . This revaluationprocess normally occurs at least every five years, based upon the asset'sGovernment Purpose Classification, but may occur more frequently if fairvalue assessments indicate material changes in values . Independent valuersare used to conduct these scheduled revaluations and any interimrevaluations are determined in accordance with the requirements of theFRDs. Revaluation increments or decrements arise from differences betweenan asset's carrying value and fair value .

Yea and Distri ct Memorial HospitalNotes to t he Financial S tatements

30 June 201 0

Loans and ReceivablesTrade receivables, loans and other receivables are recorded at amortisedcost, using the effective interest method, less impairment . Term depositswith maturity greater than three months are also measured at amortisedcost, using the effective interest method, less impairment .

The effective interest method is a method of calculating the amortised cost ofa financial asset and of allocating interest income over the relevant period .The effective interest rate is the rate that exactly discounts estimated futurecash receipts through the expected life of the financial asset, or, whereappropriate, a shorter period .

Available-for sa le f inancia l assetsOther financial assets held by the Health Service are classified as beingavailable-for-sale and are measured at fair value . Gains and losses arisingfrom changes in fair value are recognised directly fn equity until theinvestment is disposed of or is determined to be impaired, at which time thecumulative gain or loss previously recognised in equity is included in profit orloss for the period . Fair value is determined in the manner described in Note15 .

i ) Property, P lant and EquipmentLand and Buildings are recognised initially at cost and subsequentlymeasured at fair value less accumulated depreciation and impairment .

Plant, Equipment and Vehicles are recognised initially at cost andsubsequently measured at fair value less accumulated depreciation andimpairment . Depreciated historical cost is generally a reasonable proxy fordepreciated replacement cost because of the short lives of the assetsconcerned .

The following table indicates the expected useful lives of non current assetson which the depreciation charges are based .

200930 to 40 Years

10 Years5 Years3 Years5 Years7 Years

201030 to 40 Years

10 Years5 Years3 Years5 Years7 Years

BuildingsPlant & EquipmentMedical EquipmentComputers & CommunicationsFurniture & FittingsMotor Vehicles

Yea and District Me morial HospitalNotes to the F i nancial statements

30 June 2010

Reva l uat ion inc rements a re credi ted direct ly to the as set revaluation sur plu s ,except that, to the exte nt that an i ncrement reverses a reva l uat iondecrement in respect of that same class of asset prev iously recognised as anexpense in n et resul t, the incre m ent is recogn ised as income in the netresult .

Reva luation decrements a re recog n ised I mmediately as expen ses fn the netresu l t, except that , to the extent th at a credit balance exis t s in the assetreva l u ation surplus in respect of the sa me cl ass of assets , they are d ebitedd irectly to the as set revaluation su rplus .

Revaluation increases a nd revaluation decreases relating to ind ividual assetswithin an asset class are offset against on e another within that class but arenot offset i n respe ct of assets in different classes .

Revaluation surplus are normally not transferred to accumulated funds onderecognikion of the relevant asset .

In accordance with FRD 103D Yea & Di strict Me mor i al Hospital's non cu rrentphysica l assets were assessed to determine whether reva luat ion of the non -current phys ical assets was req u i red .

k) Depreciation and AmortisationAssets with a cost in excess of $1 , 000 (2008 - 09 and 2009 - 10) are cap i tal isedand depreciat ion has been provided on depreciab le assets so as to alloca tetheir cost or va l uation over their estimated useful lives. Estimates of theremaining useful lives and deprecia tion method for all a ssets a re rev iewed atleast annual ly . Thi s deprec iation charge is not fun ded by the Dep artment ofHealth .

Depreciation is provided on property, plant and equipment, includingfreehold buildings, but excluding land and Investment properties .Depreciation begins when the asset is available for use, which is when it is inthe location and condition necessary for it to be capable of operating In amanner intended by management .

m) Net Gain/(Loss) on Fin ancial InstrumentsNet gain/{loss) on financial instruments includes realised and unrealisedgains and losses from revaluations of financial instruments that aredesignated at fair value through profit or loss or held-for-trading, impairmentand reversal of impairment for financial instruments at amortised cost, anddisposals of financial assets .

Yea and District Memorial HospitalNotes to the Financia l Statements

30 June 201 0

I) Net Gain/(Loss) on Non- Financial AssetsNet ga i n/ (loss) on non-financial assets includes real ised and unrealised gainsand losses from revalu ati ons, impairmen ts and d isposals of a l l physical andin ta ngib l e assets .

Disp osal of Non-Financial AssetsAny gain or loss on the sale of non-financial assets Is recognised at the datethat control of the asset is passed to the buyer and is determined afterdeducting from the proceeds the carrying value of the asset at that time .

Impa irment of N on -Financi al AssetsAll assets are assessed annually for indications of impairment, except for :

assets arising from construction contracts,

If there is an indication of Impairment, the assets concerned are tested as towhether their carrying value exceeds their possible recoverable amount .Where an asset's carrying value exceeds its recoverable amount, thedifference Is written-off as an expense except to the extent that the .write-down can be debited to an asset revaluation surplus amount applicable tothat same class of asset .

It is deemed that, in the event of the loss of an asset, the future economicbenefits arising from the use of the asset will be replaced unless a specificdecision to the contrary has been made . The recoverable amount for mostassets is measured at the higher of depreciated replacement cost and fairvalue less costs to sell . Recoverable amount for assets held primarily togenerate net cash inflows is measured at the higher of the present value offuture cash flows expected to be obtained from the asset and fair value lesscosts to sell .

Income, expenses and assets are recognised net of the amount of associatedGST, unless the GST Incurred Is not recoverable from the taxation authority .In this case it is recognised as part of the cost of acquisition of the asset oras part of the expense .

Receivables and payabies are stated inclusive of the amount of GSTreceivable or payable . The net amount of GST recoverable from, or payableto, the taxation authority Is included with other receivables or payables inthe balance sheet .

Cash flows are presented on a gross basis . The GST components of cashflows arising from investing or financing activities which are recoverablefrom, or payable to the taxation authority, are presented as operating cashflow .

Yea and District Memo r ia l hospitalNotes to lire Financial statements

30 June 2010

IImpairment of F in ancial AssetsFinancial Assets have been assessed for impairment in accordance withAustralian Accounting Standards . Where a financial asset's fair value atbalance date has reduced by 20 per cent or more than its cost price ; orwhere Its fair value has been less than its cost price for a period of 12 ormore months, the financial instrument is treated as impaired .

n) PayablesThese amounts consist p redominantly of liab i l i ties for goods and serv ices .

Payables a re init i al l y re cognised at fair v a lu e, then subsequently carried atamortised cost and represent liabi l ities for go ods and services provided tothe Health Service prior to the end of the financial year that are unpaid, andarise when the Health Service becomes obliged to make future payments inrespect of the purchase of these goods and services .

The normal cr edit terms are u sua l ly Nett 30 days ,

o) ProvisionsProvisions are recognised when the Health Service has a pre sent ob l igation,the future sacrifice of economic bene fits Is p robable, and the amount of t h eprovision can be measured reliably .

The amount recogn i sed as a provision i s the best estimate of thecons idera tion required to settle the present obligation at reporting date ,taking Into account the risks and uncertainties surrounding the ob l igat ion ,Where a provision is measured using the cash flows estimated to settle thepresent obligation , i ts carrying amoun t is the present value of those cashfl ows .

p) Goods and Services Tax

Th e components of this current LSL l iabi lity are measured at :

present value - component that Yea & District M e mor ial Hospita l doesnot expect to settle w ithin 12 months ; and

nominal value - component that Yea & District Memorial Hospita lexpe cts to set t le within 12 months .

Non-Current Liability - conditional LSL (representing less than 10years of co ntinuous service) is disclosed as a non-current l iabil ity . The re Isan uncond ition a l right to d efer the settlement of the entitl ement unti l theemployee has completed the requisite y ears of service . Cond itional LSIL i srequired to be m easu red at present value.

Considerat ion is g i ven to expected future wage and sa lary levels,exper ience of emp loyee departures and periods of se rvice . Expected futurepayments are di scounted us ing interest rates of CommonwealthGovern m ent guaranteed securities in Australia .

Yea and District Memorial HospitalNotes to th e financial Statements

30 June 2010

Commitments and contingent assets and liabilities are presented on a grossbasis .

q) Employee BenefitsWag es and Sal ar i es, Annual Leave and Accrued Days Off

Liabilities for wages and salaries, including non-monetary benefits , a nnua lleave and accrued days off which a re expected to be settl ed with in 1 2month s of the reporting date are recog nised in the provis ion fo r emp loyeebenefits in respect of employee's services up to the reporting d ate , and areclassified as curr ent liabil i ties and measured at their nominal va lues .

Those liabilities that the Health Service are not expected to be sett ledwithin 12 months are recogn ised in the p rovision for employee benefits ascurre nt liabilities, measured at present value of the amounts expected to bepaid when the liabilities are sett l ed using the remuneration rate expected toapp ly at the time of sett lement .

Long Service Leave

The l iabi li ty for long serv ice leave (LSL) Is recognised In the provi sion foremployee be nefi ts

Current Liability - unconditional LSL (representing 10 or more years ofcontinuous service) Is disclosed in the notes to the financial statements as acurrent liability even where Yea & District Memorial Hospital does notexpect to settle the liability within 12 months because it will not have theunconditional right to defer the settlement of the entitlement should anemployee take leave within 12 months .

Yea and District Memorial HospitalNotes to the financial Sta te ments

30 June 2010

The name and details of the major employee superannuation funds andcontributions made by Yea & District Memorial Hospital are as follows :

Fund Contributions Paid or Payablefor the year

2010 ~ 2009

$ $Defined benefit plans :Hea lth Super 22,840 19,519Defined contribu tion plans :Hea lth Super 202,887 205,953

Hesta Super 21,968 15,774

Total 247,695 241,246

Yea & District M emorial Hospital do es not recog n i se any unfunded definedbenefit liabi lity in respect of the superannuation plans because the entity hasno legal or constructive o bligat ion to pay futur e benefits re lating to i tsemployees ; its only ob l igation is to pay supe ra nnuation co ntr ibut ions a s th eyfall due . The Depa rtment of Tre asury and Finance adm inis ters and disclosesthe State's defined benefit lia bi l itie s i n its financ ia l statements .

Superannuation

Defined contribution plansContributions to defin ed cont ribution superannuation plans are expensedwhen incurred .

Defined benefit plansThe amount charged to the Comprehensive Operating Statement in respectof defined benefit superannuation plans represents the contributions madeby the Health Service to the superannuation plans in respect of the servicesof current Health Service staff . Superannuation contributions are made tothe plans based on the relevant rules of each plan .

Employees of Yea & Di strict Memoria l Hospital are ent i tled to receivesuperannuat ion benefits and Yea & D istri ct Memorial Hosp i tal contributes toboth the defined benefit and d efined contr i but ion p lans. The defined benefitp la n(s) prov ide benefits ba sed on years of service an d fina l average salary .


30 June 2010

Income is recognised in accordance with AASB 118 Revenue and isrecognised as to the extent it Is earned . Unearned income at reporting dateis reported as income received In advance .

Amounts disclosed as revenue are, where applicable, net of returns,allowances and duties and taxes .

Terminati on Benefits

Termination benefits are payable when employment is terminated before thenormal ret irement dare or when an employee accepts voluntary redundancyin exchange for these benefits .

Liabilities for termination benefits are recog nised when a deta i l ed plan for theterminat ion has bee n deve loped and a valid expectation has been raised withthose employees affected that t he terminations will be carried out . Theliabilities for t ermination be nefits are recognised in other creditors unless theamount or tim i ng of the payment s is uncertain, in which case they arerecognised as a provision .

On-CostsEmployee benef it s on-costs , such as workers compensa tion, superannuationare recognised separately from prov i sions for employee benefits .

r) Resi dential Aged Care ServiceYea & District Memorial Hospital's Residential Aged Care Service operationsare an integral part of Yea & District Memorial Hospital and share Itsresources. An apportionment of land and buildings has been made based onfloor space . The results of the two operations have been segregated basedon actual revenue earned and expenditure incurred by each operation in note18 to the financial statement .Yea & District Memorial Hospital's Residential Aged Care has a separateCommittee of Management and is substantially funded from Commonwealthbed-day subsidies .

s) Joint VenturesInterests in jointly controlled assets are accounted for by recognising in Yea& District Memorial Hospital's financial statements, its share of assets,liabilities and any revenue and expenses of such joint ventures . Details of thejoint venture are set out in note 19 .

t) Intersegment TransactionsTransactions between segments within Yea & District Memoria l Hospital havebeen eliminated to reflect the extent of Yea & District Memorial Hospital'soperat ions as a group .

u) Income Recognition

v) Fund AccountingYea & D istrict Memorial Hosp ita l operates on a fund accounting basis a ndmaintains three funds : Operating, Specific Pu rpose and Capital Funds . Yea &Distri ct Memorial Hospital's Capital and Specific Purpose Funds includeunspent cap i tal donat ions and receipts from fund- ra is ing activities conductedsolely in respect of th ese funds .

Yea and District Memorial HospitalNotes to rile Financ ial S t atements

30 June 2010

Government Grants and other transfers of i ncome (other thancontributions by owners)

Grants are recognised as income when the Health Service gains control ofthe underlying assets in accordance w ith AASB 1004 Contributions . Forreci proca l gra nts , Yea & Distr ict Memorial Hosp i tal is deemed to haveassumed control when the perfo rmance has occur red under the grant. Fornon-reciproca l grants , Yea & Dist rict Memor ial Hospital is deemed to haveassumed control when the grant is rece ived or receivable. Cond itional gra ntsmay b e reciprocal or no n -rec iprocal depending on the terms of the grant .

Indirect Contributions from the Department of Hea lth- Insurance is recognised as revenue following advice from the

Department of Health .- Long Service Leave (LSL) - Revenue is recognised upon finalisation of

movements in LSL liability in line with the arrangements set out in theMetropolitan Health and Aged Care Services Division Hospital Circular14/2009 .

Patient and Resident FeesPatient fees are recogn ised as revenue at the time invoices are ra(sed .

Donations and Other BequestsDonat ions and bequests are recognis ed as revenue when rece ived . Ifdonat ions are for a spec ial pu rpose , they may be appropriated to a reserve,such as the specific restricted purpose reserve,

Interest RevenueInteres t revenue is recognised on a tim e proportionate basis that takes inaccou n t the effective y ield of the f inanc i al asset .

ab) Contributed CapitalConsistent with Australian Accounting Interpretation 1038 Contributions byOwners Made to Wholly-Owned Public Sector Entities and FRD 119Contributions by Owners, appropriations for additions to the net asset basehave been designated as contributed capital . Other transfers that are in thenature of contributions or distributions that have been designated ascontributed capital are also treated as contributed capital .

Yea and District Memorial HospitalNotes to th e Financial statements

3 0 June 2010

w) Services Supported By Health Services. Agreement andServices Su pported By Hos pita l And Comm unity In itiat ivesActivities classified as services Supported by Health Services Agreement(HSA) are substantially funded by the Department of Health and includesResidential Aged Care Services (RAGS) and are also funded from othersources such as the Commonwealth, patients and residents, while ServicesSupported by Hospital and Community Initiatives (Non HSA) are funded bythe Health Service's own activities or local Initiatives and/or theCommonwealth .

x) Resources Provided and Received Free of Charge or forNominal ConsiderationResources provided or received free of charge or for nominal considerationare recognised at their fair value when the transferee obtains control overthem, Irrespective of whether restrictions or conditions are imposed over theuse of the contributions, unless received from another Health Service oragency as a consequence of a restructuring of administrative arrangements .In the latter case, such transfer will be recognised at carrying value .Contributions in the form of services are only recognised when a fair valuecan be reliably determined and the services would have been purchased ifnot donated .

y) Property, Plant & Equipment Revaluation SurplusThe asset revaluation surplus is used to record increments and decrementson the revaluation of non-current physica l assees,

z) General ReservesThese are accumulated fun ds of surplus rev enue over expenditure from fundraising activ i ties, community support prog rams and p rivate practice clin i cs .

aa) Specific Restricted Pu rpose ReserveA specific restricted purpose reserve is established where the Health Servicehas possession or title to the funds but has no discretion to amend or varythe restriction and/or condition underlying the funds received .

Yea and District Memorial HospitalNotes t o tile Financial Statements

30 June 2010

o Volun tary departure packageso Write-down of inventor ieso Non-current ass et revaluation increments/decrementso Diminutlon/impairment of Investmentso Restructuring of operations (disaggregation/aggregation of Health

Serv ices)o Litiga tion settlementso Non-current assets lost or foundo Forg iveness of loans

ac) Comm itmentsCommitments are not recognised on the Balanc e Sheet. Commitments aredisclosed at their nom i nal value and are inclu sive of the GSi" Payable .

ad) Contingent assets and contingent liabil itiesCont ingent assets and contingent l iab i lities are not recognised fn the Bal anceSheet, but are disc losed by way of note and, if qua ntifiabl e, are measured atnominal va l ue . Contingent assets and contingent liabil i t i es are presentedinclu sive of GS7 receivabl e or payabl e res pectively .

ae) Net Result Before Capital & Specific ItemsThe subtotal entitled 'Net result Before Capital & Specific Items' is included inthe Comprehensive Operating Statement to enhance the understanding ofthe financia l performance of Yea & District Memorial Hospital . This subtotalreports the result excluding items such as capital grants, assets received orprovided free of charge, depreciation, and items of an unusual nature andamount such as specific revenues and expenses . The exclusion of theseitems are made to enhance matching of income and expenses so as tofacilitate the comparability and consistency of results between years andVictorian Public Health Services . The 'Net result Before Capital & SpecificItems' is used by the management of Yea & District Memorial Hospital, theDepartment of Health and the Victorian Government to measure the ongoingperformance of Health Services in operating hospital services .

Capital and specific Items, which are excluded from this sub-total, comprise :

Capital purpo se i ncome, which comp rises a ll t i ed grant s, donations an dbequests rece ived for the purpose of acquiring non-current assets, suchas capita l works or plant and equ i pment . It a lso i ncludes donat ions ofp lant and equipment (refer Note 1 (x ) ) . Consequently th e recogni tion ofrevenue as cap ital purpose income is ba sed on the intention of theprovider of the revenue at the time the revenue is provided,

:• Specific Income/expense, comprises the following items, where material :

Residential Age d Care including Mental Health (RAC incl . MentalHea lth) referred to in the past as psychogeriatric residential services,comprises those Commonwealth-licensed residential aged care services inreceipt of supplementary funding from DH under the mental health program .It excludes all other residential services funded under the mental healthprogram, such as mental health funded community care units (CCUs) andsecure extended care units (SECs) .

Yea and Dist r ict Memor i al HospitalNotes to the Financial statcolents

30 June 2010

o Reversals of provisionso Voluntary changes In accounting policies (which are not required by

an accounting standard or other authoritative pronouncement of theAustralian Accounting Standards Board)

s Impa i rment of financ ial and non-financial assets, inc l udes all Impairmentlosses (and reversal of previous Impairmen t losses), which have beenrecognised in accordance with Note 1 (i) and (m) .

:• Deprecia tion and amort i sat ion, as described in not e 1 (k ) and (m)

.• Assets prov ided or received free of charge, as described in note 1 (x)

:• Expenditure using capital purpose income, comprises expenditure whicheither falls below the asset capitalisation threshold (note 1 (k)), ordoesn't meet asset recognition criteria and therefore does not result inthe recognition of an asset in the balance sheet, where funding for thatexpenditure is from capital purpose income

af) Category GroupsYea & District Memorial Hospital has used the following category groups forreporting purposes for the current and previous financial years .

Admitted Patient Services (Admitted Patients) comp ri ses all recurrenthealth revenue/expend iture on admitted patient services , where serv i ces a redelivered in public hospita ls, or free standing day hospital faci lit i es, or a lcoholand drug treatment units or hospitals spec ialising in denta l service s, hearingand ophthalmic aids,

Aged Care comprises revenue/expenditure from Home and Community Care(HACC) programs, Allied Health, Aged Care Assessment and supportservices .

P ri m ary He a lth comprises revenue/expenditure for Community HealthServices including health promotion and counselling, physiotherapy, speechtherapy, podiatry and occupational therapy .

ag) New Accounting Standards and InterpretationsCertain new accounting standards and interpretations have been publishedthat are not mandatory for the 30 June 2010 reporting period . As at 30 June2010, the following standards and interpretations had been issued but werenot mandatory for financial years ending 30 June 2010 . Yea & DistrictMemorial Hospital has not and does not intend to adopt these standardsearly .

Standard/ Summary Applicable Impact on HealthInterpretation for Annual Services Financial

Reporting Statementsperiods

beginn ing

on

AASB 2009-5 Fur ther Some amendments will Beg inning Termino logy and

amendments to resu l t In accounting 1 Jan edito ri al changes .

Austra lian Accounting changes fo r p resentation, 20 10 Impact mi nor .

S tandards aris i ng from recognition orthe annual measurement purposes ,

improvements project while other amendments

[AASB 5, 8, 101, 107 , will relate to terminology

1 17, 118 , 136 and and editorial changes .

139]

AASB 2009-9 Applies to Hea lth Services Beginning No Impact.

Amend ments to adopt ing Austral ian 1 Jan Relates only to firs t

Austral ian Account ing Accounting Standards for 20 10 time adopters of

Standards - additional the fi rs t t ime, to e nsure Austral ian

exemption for fi rs t- Hea lth Services w il l n ot Account ing

time adopters [AASB face undue cost or effort in Standards1] the transition process in

particular situations .

Yea an d District Memorial Hosp italNotes to the Fi nancial S tatements

30 June 2010

Other Services excluded from Australian Health Care Agreement(AHCA) (Other)Comprises revenue/expenditure for services not separately classified above,including : Public Hea lth Services inc luding Laboratory testing , Blood BorneViruses / Sexually Transmitted Infections cl i n i cal services, Kooris liaisonofficers , immunisati on and screen i ng services, Drugs services including d rugwithdrawal, counselling and the needle and syring e progra m, Dental Healthservices including general and specialist denta l care, school dental servicesand clin i cal educat ion, Disability se rv ices inc l uding aid s and equipment andflexible support packages to people wi th a d isabil ity , Community Careprog rams includ ing sexual assaul t support, early parent i ng services,paren ti ng assessment and skil ls development, a nd various support services .Hea l th and Community Initiatives also fal ls in this category group .

Yea and District Memorial HoSpitalNotes to the Financial Statements

30June 2010

AASB 124 Related Government related Health Beginning Prel iminary

par ty disclosures (Dec Services have been 1 Jan assessment suggests

2009) g ranted part ia l exemption 2011 that Impact Is

with c erta in d isclosure insig ni ficant .

requirements . However, the Health

Service is stillassessing thedetailed impact andwhether to early

adopt .

AASB 2009- 12 This standard a mends Beg inning AASB 8 does not

Amendment s to AASB 8 to require an enti ty 1 Jan ap pl y to Health

Au stralian Accounting to exercise judgement I n 2011 Services therefore

Standards [AASB 5, 8, assessing whether a no impact expected .

108, 1 10, 112, 119, government and Health Otherwise , on ly

133, 13 7, 139, 1023 Services known to be ed itorial changes

and 103 1 and under the control of t hat a ri s i ng from

Interpretations 2 , 4 , government are considered amendme nts to

16 1039 and 1052] a s ing le cus tomer for other sta ndards, n o

purposes of ce r tain major impact .

operating segment Impacts of editor i al

disc l osure, amendments are not

This standard al so makes expected to be

numerous editorial significa n t .

amendments to other

AASs.AASB 2009-14 Amendment to Beginn ing Expected to have no

Amendments to I n terpretation 14 ari s ing I Jan significant Impact .

Australian from the issuance of 2011

Interpretation - Prepayments of a

Prepayments of a minimum fundingminimum funding requirement.

requ i rement

[AASB Interpre ta t ion

14]

Yea and District Memorial Hosp i talNotes to the Financial Statements

30 Junc 2030

AASB 9 F inanci a l Th is stand a rd simplifies Beginning Detail of

Instruments requirements fo r the 1 Jan Impact i sclass ifica t ion and measurement 201 3 st i ll b eingof fi nancia l a ssets resul ting from assessed .

Phase 1 of the IASB 's project toreplace IAS 39 Financialinstruments: recognition andmeasurement (AASB 1 39financial Instruments :recognition and measurement) .

AASB 2009-11 Amendments Th i s giv es effec t t o Beginn i n g Detail ofto Austral ian Accounting consequential cha nges ari sin g 1 J an impact is

Standards arising from from the issuance of AASB 9 2013 still beingAASB 9 [AAS B 1, 3, 4, 5, 7 , assessed .101, 102, 108 , 1 12, 118,121 , 127 , 128, 13 1, 132 ,

136, 139, 1023 and 1038

and Interpretations 10 and12]

Yea and DtslrlU AkmMisl HOSpYaINotes to the Financial Statements

30 Jung 2010

HSA HSA2010 2009S $

1,986,642643,928 2,658,448

Non HSA Non HSA Total Total2010 2009 2010 2009

-1,986,642643 ,928 2,658,448

150,553 191,747 150.553 191,747- 160,653 191,747 160,659 191,747

Revenue from Capital Purpose IncomeState Government Capital Grants-Other Capital GrantsResidential Accommodation Payments (Refer Note 2b)Asset Received Free of Charge (Note 2d)

3,600 2,500 3,600 2,50064,659 45,932 54,659 45,93 2- 11,366 - 11,366

Net Gam/(Loss) o n D isposal of Non-Current Assets ( Refer Note 2c) - - (73) (q,212) (73) (4,212 )Donatio ns 27,344 102,838 27,344 102, 8 38

Sub-Total Revenue from Cap it a l Purpose Income 86,630 158 ,424 85,530 158 ,424

3,967,138 4,098,221 318,289 443,694 4,286,427 4, 541,815To tal Revenue (Refer to note 2 a)

Indi rect con t ribut ions by Department of H eath :Department of H ealth ma ke s certain payments o n be half o f the Health Serv ice. These amoun ts have been bro u ght to accoun tin de termin i ng the ope rating re sult for the year by recordin g them as revenue and expenses.

Note 2: Revenue

Revenue from O perating Activiti esGovernment G rant s- Department of Health- Department o f Human ServicesCommonwealth Governmen t- Residential Aged Care Subsid yTot al Government Grants

Indirect Contrib ut ions by Department of Health-Insurance- Long Service LeaveTot a l Ind i rect Contributi ons by Department of He alth

Patient and Residen t Fee s- Patient an d Resident Fees (re fe r n ote 2b)- Reside ntial Aged Care (re fer note 2b)Total Patient & Res ident Fees

Business Units & Specific Purpose Funds- Property IncomeTotal Business Uni ts & Specific Purpose Funds

Other Reven ue from Operating ActivitiesSub -Total Revenue from Operating Act iviti es

Revenue from Non-Operating Activit iesInterestSub -Total Revenue from Non-Operating Acti v i ties

753,097 739,764 753,097 739,7643 , 383,667 3,398 , 212 - - 3,383 ,867 3,398,212

22, 035 19,908 - - 22,035 19,908(21 895 ) 6,588 (2 1 895} 5,588

1 4 0 25,496 ~ 140 25,496

1 72,730 242,891 - - 172,730 242,891345,605 336, 462 345,605 336,462518 ,335 679 ,363 - - 618,335 579 ,363

48,187 53,154 48,187 53,15448 ,187 63, 164 48,187 63,164

64,997 95,160 34,019 40,269 99,015 135,4293,967,138 4,098,221 82,206 93,423 4,049,344 4,191,644

Revenue from Services Supported by Hospital andCommunity InitiativesCateringProperty I ncomeInterestCapi tal Pu r pose Income (Re fer Note 2)Sub-Total Revenue from Serv i ces Supported ByHospital and Commun ity initia tives 443,594 443,594

Total Rev enue 218710 8 641,631 820,886 161,142 328 ,989 602 ,160 4,641 , 815

Indirect contributions by Department o f Hea th :Depar tmen t o f Health makes certain payment s on behal f of the Health Service (Insurance and Long Service Leave). These amounts havebeen brought to accoun t i n determi n in g the operati n g result fo r the year by recording them as revenue and e xpenses.

Note 2a : Analysis of Revenue by So urce

Revenue from Services Supported by Health ServicesAgreementGovernment GrantsIndirect Contributions by Department of HealthPatient and Resident Fees (Refer Note 2b)Other RevenueSub-Total Revenue from Services Supported By HealthService Agreement

Revenue from S e rvi ces Supported by Hospital andCommuntly InitiativesCate ringProperty I ncomeInterestCap it al P u rpose Income ( Refe r N ote 2)Sub •TOtai Revenue from Se rvices Supported ByHosp ital and Comm uni ty Init ia tiv e s

Total R evenue

Revenue from Serv i ces Supported by Health Serv icesAgreementGovernmen t Gra n tsIndirect Contributions by De pa rtment of HealthPatie n t and Res id en t Fees (Refe r N ote 2b)Other RevenueSub-Total Revenue from Services Supported By HealthServ i ce Agreement

Yea and D lsincUdem odal FbspYalNoes To the Fln anUal Statements

30 Jurte 2010

Admitted Nursing Aged PrimaryPatients RAC Hostel Home Care Health Other Total2010 2010 2010 2010 2010 2010 2010S S 5 $ 5 S 5

1,919,511 349,129 691,189 125,247 298,591 - 3,383,66716,305 - 2,203 1,104 2,424 (21,896) 1 40

153,941 212 ,695 1 32 , 9 10 18, 1 73 676 - 518,3351,559 7,201 627 645 14,917 40,147 64,996

2,091,31(1 660,026 826,929 146,009 316,608 18,251 3967 , 138

- 34,019 34,01948,187 48,187

- - - - 150,553 150,55385,530 85,530

318,289 3T8,289

2,091,316 669,025 826,929 145 , 009 316,608 336,640 4,285 ,427

RACAdmitted Nursing Aged PrimaryPatients RAC Hostel Home Care Heal th Other Tota l2009 2009 2009 2009 2009 2009 20098 5 S S S S 5

1,968,1 10 337,087 679,00 0 118,21 1 295,804 - 3,398,21214,711 - 2 ,042 971 2,184 3.588 25,496204,071 197,292 1 39,170 38,344 476 - 579,353

216 7,152 673 3,616 3 0,525 52,978 95, 160

2,187,108 541,631 820,885 161,142 328 ,989 58,566 4 ,098, 221

40,269 40 ,26953,154 53,154191,747 191,747

1 1 ,36611 , 366

Othe r Ope ra ting Asse tsTOTAL

During the 2009 yea r Ye a & D ist rict Memoria l Hosp ital received a share of net asse ts from HumeNE7 Ltd .

Note 2b; Patient and Resident Fees

Patient and Resident Fees RaisedRecurrent :Acu te

-I npatie n tsResiden t ial Aged CareOth e rTotal Recurrent

Capita l Purpose :Residential Accommoda ti on Payment sTotal Capital

Note 2c : Net Gain/(Loss ) on Disposal of Non-Financial Ass ets

Pro ce eds from Disposal of Non-F in ancial AssetsMot or VehiclesMotor Vehicles - Hume Rural Health AllianceFurniture & Fittings - Hum e Rural Health AllianceTotal Proceeds from Disposal of Non - Financial Assets

Less: Written Down Value of Non-Financial Assets DisposedMotor VehiclesMoto r Vehic les - Hume Rural Health Al lianceFurnit u re & Fill in g s- Home Rural Health AlliancePlant & Equipment -Home Rural Health AllianceTo tal Written Down Val ue of Non-Financial Assets Disposed

Net Oalns/(LOSSes) on Disposal of Non-Financia l Asse ts

Note 2d : Ass ets Received Free of Cha rgeDuring t he re p orting period, the fair value of assets receivedfree of charge, was as follows :

Yea and (strict hieniodal HospitalNotes To the Financial St a temen(s

30 J une 201 )

Tot a l Total2010 2009S 5

1 53,9 41 204,07 1345,605 336,46218,789 38,82 0

518 ,335 579,353

54 ,659 45,93254,669 45 ,932

Total Total2010 20095 $

26,725166 900

166 27,836

- 29,850239 1,294- 143

561239 31,848

(731 (4,212)

Total Tota l201 0 2009

193,822 1 52,543 19 3 ,822 1 52,543193,622 152,643 - - 193,822 1 52 , 6 43

31,097 29,038 - 31 ,097 29,0386 3,550 57,883 - - 63,550 57,8831 3,382 8,733 - - 13,382 8,733

130,554 126,555 - 130,554 126,555238 ,683 222 ,209 - 238 ,583 222,209

(31,559) (36,997) 31,559 36,997 - -22,035 1 9,908 - - 22,035 1 9,908

275,643 251,296 17 - 275,660 251,29676,942 68,268 266 450 77,208 68,718

114 , 1 25 105,645 3 77 - 1 1 4 ,503 105,64513,347 16,278 - - 93,347 16,27874,21 2 74 , 716 7,284 2,145 81 ,496 76,8611 1 ,961 19,593 273 - 12,234 1 9,59315,357 16,293 - - 15,357 1 6,29396,883 130,695 - - 98,883 130,695

9,700 8,900 - - 9,700 8,90010, 704 17,890 10,704 17,890689,350 692,486 39,776 39,592 729,127 732,077

321,028 269,364 32 1, 025 269,364- 321,028 269,364 321,028 269,364

3,969,658 3,880,666 3G2 803 310 ,502 4,332,462 4,191,067Total Expenses

Note 3 : Expenses

Employee BenefitsSalaries & WagesWorkcover PremiumDepa rture Pac kagesLong Service LeaveSupe rannuationTota l Employee Benefits

Non Salary Labour CostsFees fo r Visiting Medical OfficersTotal Non Sal ary Labour Costs

Supplies & Consumabl esDrug SuppliesMedical and Su rgica l Su ppli e sPathology Suppl iesFood SuppliesTotal Suppl ies & Consumables

Other Expe nses from Continuing OperationsTrans fer PricingInsurance Cos t Funded by DHAdmin i strat ive ExpensesDomestic Services

. . Fuel, Light, Poy,ier and Wa ter ,. . _~Moto r Vehicl e ExpensesRepai rs and M ai ntenanceMaintenance ContractsP atient TransportPatient and Client Purchased Se rv icesAudit Fees- VAGO - Audit of Financial Sta t ements- OtherTotal Other Expenses from Continuing Operations

Depreciat ion (Refer Note 4 )Total

Yea and District Memo rial Hop 'stalNotes To the Finent!al Statements

30 June 2010

HSA HSA Non HSA Non HSA Total Total2010 2009 2010 2009 2010 20095 b S S 8 S

2,503,149 2,488,501 1,734 1,343 2,504,883 2,489,fl4433,425 31,749 26 20 33,451 31,769- 1,754 - - - 1,754

72,660 50 , 219 56 32 72,716 50,251238,669 241,095 183 1 51 238,852 241,246

2,847,903 2,813,318 1 ,989 1,646 2,849 ,902 2,814 , 864

1,635,829 744 ,092 857,719 151 ,160 333,189 68,666 3,880,666

1,546 1, 546- - - 39,592 39,592

1 ,635,829 744 ,092 957,779 151 ,160 333,189 369 ,068 4 , 19 1, 057Total Expenses

Note 3h : Analysis of Expenses by In terna l and Res tr ic ted Speci fic Purpose Funds for Services Supportedby Hosp i t a l and Community Ini tiati ves

Tot al Total2010 2009$ $

10,215 4,14 13 1,55 9 36, 9 9 741 , 774 A1 ,138

AccommodationCateringTOTAL

Note 3a : Analysis of Expenses by Source

Serv i ces Supported By Heal th Services AgreementEmployee BenefitsNon Sal ary L abour CostsSupplies & ConsumabiesOther Expenses from Continuing Ope rat ionsSub-Total Expenses from Services Supported byHeal th Service Agreement

Services Supported By Hospital & CommunityInitiativesEmployee Bene fi tsOther Expens e s from Continuing Oper a tionsDeprecia t io n (refer note 4)Sub -Total Expenses from S ervices Supported byHospit al a nd Commun i ty Initiatives

Total Expenses

Services Supported By Hea lt h Services Agre ementEmployee BenefitsNon Sala ry Labour CostsSupplie s & ConsumablesOther Expenses from Conti n uing OperationsSub-Total Expenses from Services Supported byHealth Service Agreement

Services Supported By Hospital 8. CommunityInitiativesEmployee BenefitsOc her Expenses from Contin u in g Ope r ationsDepreciation (refer note 4)Sub-Total Expenses from Services Supported byHosp i tal and Community Initiat i ves

Yee and District Memorial HospitalN ot es To the Financ ial S t alentenls

30 June 2010

RACAdmitted Nursing Aged P rimaryPatients RAG Hoste l Home Care Health Other Total2010 2010 2010 2010 2010 2010 2010S S S $ S 5 S

848,870 405,945 667,495 108,649 80,142 736,803 2,847,304193,822 - - - - - 193,82280,13 2 28, 25 2 29,974 1,016 491 98,718 238.583

6 4 0, 923 269,723 338, 569 53, 156 172,895 (785 90 9) 689,349

1,763 , 747 703,920 1 ,036,030 162,821 253,528 49, 612 3,989,658

• - - 1,999 1,999- - 39,776 39,776- 321.028 321.028

- - 362,803 362,803

1 , 763 , 747 703,920 1,036 ,030 162 ,821 263 ,626 412,416 4 , 332,4 62

RAGAdmitted Nursing Aged PrimaryPatien ts RAC Hostel Home Care Health Other Total2009 2009 2009 2009 2009 2009 20095 $ $ $ 5 S 5

813,078 463,178 621,004 98,310 736,201 679, 593 2,811,564552,343 - - - - - 152,54370,3 95 29,825 22,543 1 ,143 468 97,63 4 222,208

599 , 61 3 257 ,089 314,172 57,307 1 96,520 (718,661) 694,240

- - 31 0, 602 310,602

Total Total2010 2009$ S

258,275 1 75,3866,635 5, 104

10,2 1 7 1 0,05617,070 30,47610,24 1 18 , 24011,500 13,1878,754 15,921336 994

321,028 269,364

Furnitu re & Fitting sHume Rural Health All i ance ShareTotal Deprec i ation

Note 5: Cash and Cash EquivalentsFor the purposes of the o f Cash Flow Statement , cash assets includes cash on hand an d in bank s , and short-term depositswhich are readily convertible to cas h on h and, and are subject to an insigni fica nt risk or change i n value, net of ou tstand in gbank overdrafts .

Total Total2010 2009S S

6,000 6,000

6,000 6,000

(c) Nature and extent of risk arising from receivablesPlease refer to note 1 5(b) for the nature and e xtent of credi t risk a risi n g from rece ivables

Note 4 : Deprec iat ion

Bu i ldin g sPlant & Equipment - Plant

-T ra n sport- Medica l Equipment• Computers & Communications- Non Medical E quipmen t

Yea and District Memorial HospitalNotes To the Financial Statements

30 June 2010

Cash on HandCash at BankFunds Held In T rust at BankTOTAL

Represented by :Cash for Health Service Opera tions (as per Cash Flow Statement)HRHA ShareFunds Held in Trust -Accommodation BondsTOTAL

Note 6 : Receivables

CURRENTContractualTrade DebtorsPatient Fees - Health Service Agreemen tAccrued Investment IncomeLess Allowance for Doubtfu l DebtsPatient Fees

StatutoryAccrued Revenue - Department of HealthGST ReceivableTOTAL CURRENT RECEIVABLES

NON CURRENTStatutoryLong Service Leave - Department of Heal t hTOTAL NON-CURRENT RECEIVABLES

TOTAL RECEIVABLES

(a) Movement In the Allowance fo r doub t fu l debts

Balance at beginning of yearDecrease i n allowance recogn i sed in pro fit or lossBalance at end of year

(b) Ageing analysis of receivablesPlease refer to note 15(b) for the ageing analysis of receivables

Total Total2010 2009S S200 200

29,230 986,324540,3 0 1569 ,731 968,624

9,555 957, 83819,875 28,686

540,31569 ,731 886,524


25,236 25,54583,486 1 04,48216 ,697 15,982

(6,000) (6,000)119,4 19 140,009

- 49,99827,996 22,931

147,415 212,938

4,81 6 26,7 1 14,816 26,711

162,231 239 , 649

840, 301 731,5813, 300 ,000 2,509,090

(b) Ageing analysis of oth e r financial assetsPlease refer to note 1 5(b) f or the ageing analysis of other financial assets

Total Total20 10 2009

CURRENTPrepaymen t sTOTAL

23,272 13,59723 ,272 13,697

Note 7: Other F i nancial Assets

CURRENTTerm DepositsAust . D ollar Negotiable Certificates of DepositTOTAL

Represented By :Hos pit a l I nvestments

Hospita l I nvestments - Monies H eld In T rustTOTAL

Yea and District Memorial HospitalNotes To the Financial Statements

30 June 2010

TTotal Total2010 2009$ $

3,300,000 2,509,0903,3 00,000 2,609 ,090

2,459,699 1,777 509

(c) Nature and extent of risk aris ing from other financial assetsPlease re fer to n ote 1 5(b) for t he nature and e x ten t o f credit risk arising from other financial assets

Note 8 : Other Assets

Note 9 : Property , Plant & Equ ipment

land at Valuation

BuildingsBuilding s Under Construction a t c os t

Buildings at ValuationLess Accumulated Depreciation

Buildin gs at Cost

Total Buildings

Plant and Equ ipmentPlan t a nd Equipment at Fair Value

Less Accumula ted Depre cia tionTotal Plant and Equipme nt

Motor VehiclesMo tor Vehicles at Fair Value

Less Accumulated Deprecia tionTotal Motor Vehicles

Meciigal.E.yuipment,, . . . ,Medical Equipmen t a t F airVa l ue

Less Accum ulated Dep reciationTotal Med ica l Equ ipment

Computers and CommunicationComputers and Communication at Fair Value

Less Accumula ted Dep re ciatio nTotal Computers and Communication

Non-Medical EquipmentNon-Medical Equipment at Fair Value

Less Accumula ted Deprec i atio nTotal Non-Medical Equipment

Furniture and FittingsFurniture and Fittings at Fair Value

Less Accum ulated Depreciatio nTotal Furniture and Fittings

Hume Rural Hea l th Allia nceLess Accumulated Depredation

Total H ume Rura l Health Alliance

TOTAL 19,207, 30 1 11,018,372

Yea and District Memorial HospitalMoles To the Flnanctal Statements

30 Juno 2070

Total Total20 10 2009

449 ,000 449,000

56,684

10,331,000 13,931,202258,275 3,600,202

10,072,725 10,331,000

494,590 -

10 ,667,316 10 , 387 , 884

55,693 6,1 166,63549,058 6,118

68,112 55,12523,20444,908 55,125

48,750 49,73017,07032,680 48,730

19,6 32 14,93310,2419 , 391 14,933

35,218 35,28611,60023,718 31,286

36,399 23,5996,75429,646 23,699

2 ,040 997454 118

1 ,586 879

Yea and District Memorial HospitalNotes To the Financial SkatemeMs

30 June 2010

Note 9 : Property, Plant & Equipment (Continued)Reconciliation of the carrying amounts of e ach class of asses for the consolidated entity at the beginning and end of the previous and current fin ancial year is set out below.

Freehold Motor Medical Computers & Non Medical Furniture & Hume RuralHealth

Land Buildings Plant Vehicles Equipment Communication Equipment Fittings Alliance TotalS S $ S $ $ S $ $ $

393,060 6 , 089 ,126 11 ,220 49,859 52,531 21,539 40,573 39,520 - 6,697,418- 63,609 - 45,172 24,927 11,634 5,526 - - 150,868

55,950 4,410,335 - - 2,768 - (1,626) - - 4,467,427- - ~ - - 3,328 3.328

(1,455) (1,455)

Addition sNet Additions through Share of Hume Rural Health AllianceDisposals (Note 2c)Revaluation I ncrementsAssets Received Free of ChargeNet R eduction th rough Share o f Hume Rural Healt h AllianceDepreciation Expense ( Note 4)Balance at 30th June 2010

508,9141,116

(73)- 1, 116

(73)

- (258,275) (6,635) (1 0,217) (17,070) (10 241) (11,500) (6,754) (336) (324 028)449,000 10,567 ,375 49,058 44,908 32,680 9,391 23,718 29 ,645 1,586 11,207,301

The effect ive date of t he valuation is 30th June 2009.

Balance at 1St July 2008AdditionsDisposals (Note 2c)Revaluation IncrementsAssets Received Free o f ChargeNet Reduction t hrough Share of Hume Rural Health AllianceDepreciation Expense (Note 4)Ba lance at 1st Jaly 2009

- 937,906 49,577 - - 4,699 3,932 12,800

Land and Buildings carried at va l uationAn independent valuation of Yea & D istri ct Memorial Hospital's property, plant an d equipment was pe rformed by HMC Valuers for the Valuer-General, Vi ctoria to determine the fair value of the landand b u ildings. The val u ation, which conforms with the Austral ian Valuati on Standards, was determined by referen ce to the amounts for which assets could be exchanged between knowledgeable willingparties in a n arm's len gt h transaction. The valuation was based on indepen dent ass essments .

Movement in Long Service Leave :Balance at start of yearProvisions made during the year- Expense recognising employee serviceSettlements made during the yearBalance at end of year

72 , 716 50,251(62,691) (11670)358,809 348 ,784

Note 10 : Payables

CURRENTContractualTrade CreditorsAccrued Expenses

StatutoryGST PayableGra nts Paid in Advance - Department of HealthIncome in Advance - Commonwealth RAC SubsidyTOTAL

(a) Maturity a n alysis of payablesPlea s e re fer to Note 16d for t he agei ng anal ysis o f payables

(b) Nat ure and exte nt of risk arising from payablesPlease re fer to n ote 15d for the nature and extent of risks arising from payables

Note 11 : Employee benef its and Related On -Costs Prov isions

Current Prov i sionsEmployee Benefits- unconditional and expected to be settled wit hin 12 month s- unconditional and expected to be s ettle d aft er 12 months

Pro vi s io ns relat ed to employee bene fi t on-costsUnconditional an d expected to be se ttl ed wi t hin 1 2 mon t hs (nominal value)Unconditional an d expected t o be settled after 1 2 months (p resent value)

Total Current Provisions

Non-Current ProvisionsEmployee BenefitsProvisions related to emplo yee benefi t on-cos t sTotal Non-Current Provisions

Current Employee BenefitsAccrued Salaries & WagesAccrued Days O ((Annual Leave EntitlementsUnconditional Long Se rvice Leave EntitlementsNon Current Emp loyee BenefitsCond itio n al lo ng service lea ve entitlements (present value)Total Emp loyee BenefitsOn-CostsCurrent On-CostsNon-Current On-CostsTota l On-CostsTotal Employee Benefits and Related on -Costs

Yea and OlsiriU Memorial HospitalN otes To the Financial Statements

30 June 2010


150,530 174,96013, 45 1 26,432

963,981 201,392

2,419 2,727447,707 -

3,459677,566 204,1 1 9


288,397 30,965201,547 197,807489,864 498,792

36 ,422 38,0217,854 9,97 1

44,276 47,992534,140 646,784

0,126 71 ,8359.28 2 7,758

102,408 78,683


20,787 25, 1795 , 166 2,117

230,610 228,544233,301 242,952

93,126 71,835 . .582 ,990 570,627

44,276 47,9929,282 7,758

63 ,358 66,760636 ,548 626,377

348,784 310,203

Note 12 : Othe r L iabi lities

Represented by Other Fi nancial Assets (Note 7)

Note 1 3 : Equ ity

General Purpose ReserveB alance at the Beginnin g of the Reporti ng PeriodTransfer to and from Accumulated DeficitBa lance at the End o f the Reporting Period

2 , 261 ,049 2,069,302149,857 197 ,747

2, 410,906 2,261,049

(1) The property, plan t & equipment asset revaluation reserve arises on the revaluatio n o f p roperty, plan t & equipme n t.

Tota l Reserves 7,932,371 7,782,614

43,158,120 13,205,155(d) To tal Equity at end of financia l year

CURRENTMonies Held in TrustTOTAL

(a) ReservesProperty, Plant & Equ ipment Revalua t i on ReserveBalance at the Begin ning o f the Reporting PeriodRevaluation Increments-land- Buildings- Plant & Equipmen t

Balance at the End ofthe Reporting Period

Represented by :LandBuildingsPlant and Equipment

Yea and District Memorial HospitatNotes T o the Financial Statements

30 Jug 2010


840 ,301 731 ,581840 ,301 731 ,561

Tota l Total2 010 2009

5,521 ,465 1,054,038

55,950- 4,410,335

1,1425,521 ,466 6,529f466

67,090 67,0906,453,233 5,453,2331,142 1,142

6,621 ,465 5,520,323

(b) Contri buted C ap ita lB alance at the Beginning o f the Reporting PeriodCapital Contributions received dur i ng t he period from Victorian GovernmentBalance a t the End of t he Reporting Period

(c) Accumulated SurplusesBalance at the Beginni ng of the Reporti n g Pe r iodNet Transfers T o and From General ReservesNet Result for the YearBalance a t th e End of the Repor t i ng Period

2, 447,447 2,447,447

2,447 ,447 2,447,447

2,975,194 2,816,183( 1 49,857) (19 1 ,747)

(47,035) 350,7582,778,302 2 , 975,194

Total Total2010 2009$ S

(47,035) 350,768

268,370(3,228)24,8563,12573

41 3 ,447 19,007108,720 24,590

1 0,171 (81,644)(9,675) 4, 473

( 100, 046) (57,934)87,418 (23 070)784,101 529,303

Note 15: Financial Instruments(a) Financial Risk Management Objectives and PoliciesYea & District Memorial Hospital's principal financial instruments comprise of- Cash Assets- Receivables (excluding statutory receivables)- Investment in Equities and Managed investment Schemes- Other Financial Assets- Payabfes (excluding statutorypayebles)-Accomodalion Bonds

Financial LiabilitiesAt amortised cost -Total Financial L i abiliti es

Note 14: Reconciliation of Net Result for the Year to Net CashCash Inflow/(Outflow) from Operating Activities

Net Resu l t for the Period

DepreciationAssets Received Free of Charge - NumeNET Ltd . P lant & EquipmentShare Hume Rural Health Alliance Mem ber Con t ributionsNe t (ga i n)/loss f rom the Sal e of Plant & Equipmen tChange in Operating Assets & Liabil i tiesIncreasel(Decrease) i n PayablesIncre a se!( Decre a se) in Other LiabilitiesIncrease/( Decrease) i n Emp loyee Benefits(Increase)/Decrease i n P repayments(Increase ) / Decrease i n Ot h er Asset s(Inc rease )/Decrease i n ReceivablesNET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTI VITIES

Yea and District Memorial HospitalNotes To the Finandal Statements

30 June 2010

32 1 , 028

Detail s o f the significant accounting policies and methods a dop ted , Dilutling the criteria fo r re cogn ition, the basis for measureme ntand the basis on which income and expenses are recognised, with respect to each class of financial asset, financial liability andeq ui ty instalment are d iscl o sed in n o te t to the fin ancial s tatements.

The main purpose in holding financial instruments is to prudentially manage Yea & District Memorial Hospital's financial risks withinthe government policy parameters .

Categorisation of financial InstrumentsDe t ails o f each ca te gories in accord ance with AAS6 139, shall be disclosed eit her on the face of the balance shee t or in t h e n ote s.

Carrying CarryingAmount Amount2010 2009$ S

Financia l AssetsCash and cash equ ivalen ts 569,731 886,524Loans and Recei vables 119,419 140,009Available for sale 3,300,000 2,509 090Total Finan c ia l As sets 3,989,150 3,635 ,623

Financial LiabilitiesAt amortised cost 1,004 282 932,973Total Financial Liabilities 1,004,282 932,973

Net holding gain/loss on financial instruments by catego ry

Carrying CarryingAmoun t Amount20 10 2009

Financial AssetsCash and Cash Equ ivalents - 'Loans and ReceivablesAvai lable for sale 750,653 1 9 1 ,747Total F inancial Assets 150,553 191,747

Yea and Di strict Memorial Hospi talNotes To the F i nancia l St atements

30 June 2010

Carrying Not Past Past Due But Not ImpairedAmount Due and Not Less than 1-3 Months 3 Months -

Impaired I month 1 Year2010 $ $ $ $ $Financial AssetsCash and Cash Equivalents 569,731 569,731 - - -Receivables- Trade debto rs 25,236 - 20,694 3,533 1,009-Other receivablas 94,1 82 - 77 , 229 13,185 3,767Other Financia l Asset s 3 ,300 , 000 3,300,000 - - -Total Financial Assets 3,989,149 3,869,731 97,923 16 ,718 4,776

2009Financia l Asse tsCash AssetsReceivables- Trade de btors- Other receivablesOther Financial A ssetsTotal Financial Assets

25,5 45 - 20,947 3,576 1,02211 4 ,464 - 93 ,860 1 6,025 4,579

2,509,090 2,509, 090 - - -3 ,635 ,823 3,495,614 114,807 19,601 5,601

Maturity analysis of financial Liabilities as at 30 JuneCarrying Contractual Maturity DatesAmount Cash Flows Less than 1-3 Months 3 Months -

1 month 1 Year2010 $ $ $ $ $Financial Liabi litiesPayables 163,98 1 - 1 34,464 22,957 6,559Accomoda tlon Bonds 840 , 301 840 ,301 - - -Total Financial liabili ties 1 , 004 ,282 840,321 134,464 22,957 6,559

2009Financia l L iabilitiesPayablesAccomodati on BondsTotal Financial Liabi l ities

201 ,392 165,1 41 28,195 8 , 056731,581 731 ,581 -932,973 731,581 165 ,141 28,195 8,056

Note 16 : F inancial Inst ruments (Cont inued)(b) C redit RiskYea & D i strict Memoria l H o sp it a l 's expos u re to cred it risk and effective weighted average inte re s t rate by ageing periods Isset out in the following table . Fo r i nte rest rates applica ble to each class of asset refer to indi vidua l notes to the financialstatements .

Ageing analysis of Financial Asset as at 30 June

986,524 986,524

(c) Liquidity RiskThe following tab le disclo ses the contractua l maturity analysis fo r Yea & Dis trict Memori al Hospital's fina ncial liabilities . Forin teres t rat es appl i cable t o each class of li a bi l i ty r efer to i ndividual notes to t he fi nancial siafements .

I nterest Rate Exposu re of Fi nancia l Assets and Liabili ties as at 30 June

Average Amount Interest Interest InterestEffective Rate Rate BearingInteres t

Financial Asse tsCash and Cash Equ i v ale nts 4.15% 569,731 - 569,531 200ReceivablesTrade debtors 25 ,236 - - 25 ,545

-Other receivabl es 94,182 - - 114,464Other F i n ancial Assets 5.42% 3,300,000 3 ,300,000 - -

3,989,149 3,300,000 569,539 140,209Financial LiabilitiesPayablesAccomoda t ion Bonds

163,981 - - 163,981840,301 - - 840,301

1 ,004 282 1,004,282

2009Financial AssetsCash and Ca sh Equivalents 2.80% 986 ,524 - 986,324 200Receivables- Trade debtors 25,545 - - 25,545- Other receivables 1 14,464 - - 114,464Othe r Financial Assets 3 . 77% 2,509,090 2,509,090 - -

3 ,635 ,623 2,509,090 986,324 140 ,209Financial Liab i litiesPayablesAccomodation Bonds

201 , 392 - - 201,392731,581 731 , 58 1932,973 - 932,973

Yea and Di strict Memorial Hospita lNotes To th e Financial s(atements

30 June 2010

Note 15: Fina nc ial Instruments (Continued)(d) Market RiskYea & Di strict Memor i a l H osp ital' s exposures to market ri s k are p rimari ly thro ugh inte re st rate risk wi th only insignificantexposure to fo reign currency and other price risks. Objectives, po l ic i es and proce sses used to m anage each of these risks aredisclosed in the paragraph below .

Currency RiskYea & Dis tri ct Memor ial Hosp ita l is exposed t o i n sig n ifi c an t foreign curre ncy risk thro ugh it s payables rela t ing to purchases ofsupplies and consumables from overseas. This i s because o f a I nv i ted amount of purchases denom inated in foreign currenc i e sand a sho rt timeframe between comm itment and set tlement.

Interest Rate RiskExposure to i nte res t rate risk might a rise primar ily t hrough Yea & Dis tri ct Memoria l Hospital's interest beari ng liabilities .Minimisation of ri sk is achieved by main l y undertaking fixed rate or non-interest bea r ing financial I nstrumen t s. For financialliabilities, Yea & Dist rict Memori al Hosp i tal m ain ly undertake fi nancial l iabi li tie s w it h re l a tivel y even matu ri ty profiles.

Yea and Disl nct Memorial HospitalNotes To the Financial Sta tements

30 June 2010

Carrying _1% +1%Amount Profit Equity Profit Equity

2010 $ $ S $ $Financ ial AssetsCash and C ash Equi val e nt s 569,73 1 (5,697) (5,697) 5,697 5,697Receivables- Trade debtors 25,236 - -- Other receivables 94,182 - - - -Other Financial Asse ts 3,300,000 (33 000) (33 ,000) 33,000 33,000

3,989,149 (38 697) (38,697) 38,697 38,697Financial LiabilitiesPayablesAccomoda t ion Bonds

163,98 1 - -840,301 L8403) (8,403) 8,403 8,403_

1,004,282 (8,403) (8,403) 8,403 8,403

2009Financial AssetsCash and Cash Equivalents 986,524 (9,865) (9,865) 9,865 9 , 8 65Rece i vables- Trade debtors 25,645 - -- Other receivables 114 ,464 - -Other Financial Assets 2,509,090 (25 091 ) (25 091 ) 25,091 26,091

3,635,623 (34 966) (34 956) 34,956 34 ,956Financ ial Liabi l itiesPayablesAccomoda ti on Bonds

201 ,392 - - - -731,581 (7,316) (7,316) 7,316 7 , 316932,973 (7,316) (7,316) 7 ,316 7,316

Note 15 : Financial Instruments (Continued)(d) Market Risk (cont)

Sensitivity Disclosure AnalysisTaking i nto account p ast pe rformance, fut ure expectati ons , economic fo recasts, a nd management's knowledge and expe r ienceof t he fi nancial ma rke ts, Yea & Dis tric t Memor i al Hosp ita l believes the following movements are 'reasonably possible'over the nex t 1 2 month s .(Base rates are sourced from the Reserve Bank ofAustral ia)- A par al le l shift of +1% and -1% i n market in te rest rates (AUD) from year-en d ra t es of 6% ;A pa r al lel shi ft of +1 % and -1% i n inf la t io n rate from year-end ra t es of 2% ;

The following table d isicoses the Impact on net ope rati ng result and equi ty fo r each ca tegory of financial i n s t ru ment h eld byYea & Dis trict Memori al Hospital at y ear en d a s presented to key management personnel , if changes in the releva nt ri sk occur .

Interest Rate Risk

Comparison between carrying amount and fair valueCarrying Fa ir Carrying FairAmount Value Amount Value2010 2010 2009 2009~ S S S

Financial AssetsCash & Cash Equ ival ents 569,73 1 569,731 986,524 986,524Rece i vable s- Trade debtor s 25 ,236 25,236 25,545 25,545- Other receivables 94 , 182 94, 182 194,464 1 1 4 ,464Other Financial Assets 3 ,300,000 3,300,000 2,50 9 ,090 2,509,090Total Financial Assets 3,989,149 3 ,989,149 3,635,623 3,635 ,623

Land and Bu ild ingsNot later than one yearLa ter than 1 year an d not late r than 5 yearsTotal

750 , 000

750 ,000

Yea and District Memorial H ospitalN otes To t he Pinandal Statements

30 June 201 0

Note 16 : Fina ncial Instruments (Continued)(e ) Fair ValueThe fair valu es and net fair v al ues o f fi nancial instrument a ssets an d li ab ilit i es are dete rm i ned as fol lows :- the fa ir val ue of fi n ancia l i n s t rument asse ts and lia b i l i ties wi th standa rd terms and conditi ons and trade d i n a cti ve liquid mar ketsare determined wi th referen ce to quo ted market prices;and- the fair value of other fi nancia l instrument asset s a n d lia b i l ities are determined i n accordance with gene r al ly a ccept ed pr i cingmodels based on discounted cash flow analysis .

Yea & D is tric t M emorial Hos pi tal cons i de rs that the car rying amount of financial instrument ass ets and liabilities recorded i nthe financ i al statements to be a fair approximat ion of th eir fai r va lues, becaus e of the short-te rm nature of the finan ci a li nstr uments and the expecta tion tha t th ey will be paid i n fu ll .

The following table shows that th e fai r va l ues o f all the cont rac tual financia l assets and l ia b ilities are the same as thecarrying amounts .

Financial LiabilitiesPayablesAccomodation Bonds

Note 1 6 : Commitments for Expenditure

Capital Expenditure CommitmentsPayableLand and Bui l dingsTotal Capital Comm itments

163,981 163,981 201,392 201 ,392840,30 1 840,301 731,581 731 ,58 1

1 ,004 , 282 1 ,004,282 932,973 932,973


750 , 000750 ,000

Yea and District Memorial HospitalNotes To the Financial Statotaents

30 June 2010

RAC RAC RAC RAcNursing Nurs i ng

Hostel Hostel Home Home Hosp i tal201 0 2009 2010 2009 2010

Total2009

Tota l Revenue (Externa l Segment Revenue) 4,134,873

Tota l Expenses (Exte rn a l Segment Expenses)

Net Result from Ordinary Activities

Interest IncomeNet Result for Year

Other InformationSegment AssetsTotal Assets

Segment LiabilitiesTotal Liabilities

840,301 731,581 - - 1,254,174 830,496 2,094.415 1,562,077840,301 731 ,581 - 1,254,114 830,496 2,094,415 1 ,562, 077

Yea & District Memorial Hospital operates in Yea, Victoria . More than 90% of revenue, net surplus from ordin ary a c tivi ti es and segment assets relate to operations in Yea, V ictoria.

Note 17 : Contingent Assets & Contingent LiabilitiesThere are no known Contingent Assets or C ontingent Liabilities as at rep orting date 30 J une 2010

Note 18 : Segment Reporting

Hospital Tota l2009 2010

(703,920) (744,092) (1,036,030) (957,7 1 9) (2,592 , 51 2) (2,489,246) (4,332,462) (4,191,057)

(134,895 ) (202,561) (209,101) (136,834) 146,407 496,406 (1 97,589) 159,011

- 150,553 191, 747- - - (47,035) 350,758

18,153 17,609 25,474 16,035 15,208,908 14,733,588 15,252,535 14,767,23218,153 17,609 25,474 16,035 15,208,908 14,733,588 15,252,535 14,767,232

The major serv i ces from which the above segments derive revenue are :Residential Aged Care Services - Provider of residential aged care bedsOther HSA & Non HSA Services - Provider of Acute and Community Services

Pri cing between inter-segments is at cost

Yea and D istrict Memorial HospitalNotes To the Financial S t atements

30 June 2010

To tal Total2010 2009

LIABILITIESCurrent LiabilitiesPayablesOther LiabilitiesTotal Current Liabilities

8,9 29 7,638508 6,440

9 ,437 13,078

NET ASSETS 27,811 33,026

Yea & D i strict Memorial Hospital int erest in revenues and expenses resul t i ng from jo int ly con trolled operations andassets i s det ailed below :


(2871 0) 1,429

Contingent LiabilitiesThere are no known Contingent Liabilities as a t reporti ng date 30 June 2010 .

Note 19: Jointly Contolled Operations and Assets

Principal Activity Ownership Interest2010 2009

Name of EntityHume Rural Heal t h A l l i ance Information Systems 1.44 1 . 36

Yea & D is tr ic t Memorial Hospita l Interest in assets employed i n the above j ointly co ntr ol l ed operations and assets isdeta iled below , The amount s a re in cl uded i n the fina ncial s ta tements u nder theirre s pecti ve asset categories:

Current AssetsCash & Cash Equiva l en t sReceivablesOther Current AssetsTotal Current Assets

Non Current AssetsProperty , Plant & EquipmentTotal Non Current Assets

TOTAL ASSETS

19,8 75 28 ,68615,0 1 1 15,900

776 63935,662 45 ,225

1,586 8791,586 879

37,248 46,1 04

RevenuesRevenue F rom Operati ng Act ivit iesRevenue From Non-Operat i n g ActivitiesAssets Received Free of Charg eCapital Purpos e IncomeTotal Revenue

ExpensesEmployee BenefitsO ther Expenses From Con tinuing OperationsDepreciation & Amorti sat io nTotal Expenses

Profit

23,960 33,66 2696 642• 11 , 366

(239) ( 7 , 086)24,417 44,584

1 3 ,674 7,16 539, 117 34,996336 994

53,127 43,155

Period

01/07/2009 30106/201 0

30/06/201030106/201030/06/201 030/06/201030/06/201030/06/201030/06I20t030/06/2010

01/07/200901107120090 1 /07/200901/07/200901/071200901/07/200901/07/200915/09/2009

01 /0712009 30/0612010

Total Total2010 2009S $

NIL NIL

Oth er Transacti ons of Responsib le Perso ns and their Related Ent i t ies

Note 22 : Ex-grat i s PaymentsThe re were no ex-gratis payments made by Yea & D i s trict Memori al Hosp ital durin g the 200912010 fi n ancial yea r (2009 :Nil) .

Yea and District Memorial HospitalN otes To the Finandal S tatements

30June 20 10

Note 20a : Respons ible Person Disclosu resI n accordance with th e Ministerial Directions i ssued by t he Minister for Finance under th e Financial M anagement Act1994 , the followi ng disc l osures a re made regarding responsib l e persons for the reporting p e rio d .

1 , Responsible Ministers :The Honou rable Danie l Andrews, MLA , Min ister fo r Health

2 . Board of ManagementMr A JacobsMrs R C roc ke ttM rs A WaltM r K Baumga r tnerM s J ( i n la yM rs S NeillMs K ChadbandM r P Heath

3. Accountable OfficerChie f Execut i v e OfficerMs . K. M . Hea l y

Remunera tion of Responsible Persons

Total remuneration received or due and receivable byRespons ible Persons from the reporting en t i tyamounted to :

There were no transactions wi th Responsible Pe rsons and their rela ted en t ities d uring the current y ear or in the prev i ous yea r.

Execut ive Officer Disclosure

The CEO is employed by Goulburn Valley Health (GVH), and Information relat i ng t o h er remunerat ion is disclosed in thefinancia l s t atements of GVH . D uri ng the year Yea & District Memorial H osp ital paid $80, 150 to GVH In rel at ion t o the serv icesprovide d b y the CEO and other Adm in ist ration s t a ff.

Note 21 : Events Occu rring afte r the Balance Sheet DateNil

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