10 February 2017 Meeting Outcomes

COUNCIL COMMUNIQUE


News and updates from UON’s Council Meeting:

Mr Bob Kennedy was reappointed to the Council for a new term commencing 1 February 2017 until 31 January 2020.

Mr Phill Johnson was congratulated for being named Young Citizen of the Year by Newcastle City Council for his advocacy on behalf of students on a range of issues.

Ma & Morley Scholarship Program

The Chancellor spoke about the great success Ma and Morley Scholarship Program launch event, acknowledging in particular the enormous work that had been undertaken by Ms Rebecca Hazell, the Director of Advancement, and Mrs Winnie Eley, the Deputy Vice-Chancellor (International and Advancement).


Council Governance Workshop

The Chancellor thanked members of Council and of the executive for their attendance and contribution to the Council Governance Workshop held in December. The Council discussed the draft Statement of desired Council and Management Culture and supported the guiding principles within the Statement.


RECENT APPOINTMENTS Caroline McMillen

The Vice-Chancellor shared news of the recently announced appointments:

  • Professor Darrell Evans as Deputy Vice-Chancellor (Academic)
  • Professor Tony Travaglione as Pro Vice-Chancellor for the Faculty of Business and Law
  • Professor Lee Smith as Pro Vice-Chancellor of the newly established Faculty of Science.

UPCOMING VISITS TO THE UNIVERSITY

The Vice-Chancellor spoke about key upcoming visits from Mr Antoine van Agtmael and Mr Fred Bakker, authors of the influential book "The Smartest Places on Earth: Why Rustbelts Are the Emerging Hotspots of Global Innovation", and of The Baroness Susan Greenfield, British scientist, writer, broadcaster, and member of the House of Lords.

FINANCIAL STATEMENTS FOR YEAR ENDING 31 DECEMBER 2016

The Chief Financial Officer, supported by the Deputy Director Corporate Finance and Operations and by the Financial and General Ledger Accounting Manager, spoke to a presentation drawing the Council's attention to the key features of the University's performance in 2016, as set out in the financial statements.

CONTROLLED ENTITIES - 2016 DRAFT ANNUAL FINANCIAL REPORTS

Newcastle Research Associates (TUNRA)

The Chief Financial Officer and Deputy Vice-Chancellor (Research and Innovation) spoke to the report and outlined TUNRA's contribution to the University.

Newcastle UON Singapore Pte Ltd

The Chief Financial Officer and Professor Mark Jones in his role as Chair of the UON Singapore Board spoke to the report.

UON ANNUAL ASSURANCE STATEMENT

The Council noted that the Finance Committee had considered the report and no risks were identified as arising.

DRAFT FRAUD RISK QUESTIONNAIRES

Draft Fraud Risk Questionnaire - Management

The Chief Financial Officer spoke to the report. The Council noted that the report had been considered by the Finance Committee and that no issues or concerns had been raised.

Draft Fraud Risk Questionnaire - Governance

The Chair of the Finance Committee spoke to the report. The Council noted that the completed Fraud Risk Questionnaire - Governance would be provided to the Council on 31 March 2017.

DRAFT REPRESENTATION LETTERS

Draft Management Representation Letter to Council

The Chief Financial Officer spoke to the report.

Draft Council Representation Letter to Audit Office

The Chair of the Finance Committee spoke to the report.

STUDENT ACCOMMODATION

The University's student accommodation is expected to achieve a 100% occupancy rate for the start of 2017.

Summary of Council's formal resolutions

ITEM: Chancellor’s Report

Council resolved to note the verbal report from the Chancellor.

ITEM: Vice-Chancellor’s Report

Council resolved to note the report from the Vice-Chancellor.

ITEM: Status and Prospects of the Sydney Operation

Council resolved to note the verbal report from the Dean of the Sydney Campus.

ITEM: Financial Statements for Year Ending 31 December 2016

Council resolved to note the report from the Chief Financial Officer in relation to the consolidated financial statements of the University for the year ended 31 December 2016, including the Chief Financial Officer’s declaration.

Council resolved to note the actions taken to prepare draft financial statements and notes for the Year Ended 31 December 2016 for the University and its Controlled Entities and that they complied with all relevant prescribed requirements, including accounting standards.

Council resolved to resolve that the draft financial statements and notes:
a.comply with Australian Accounting Standards, the Australian Higher Education Financial Statement Guidelines and the Australian Charities and Not-for Profit Commission Act 2012,
b.give a true and fair view of the financial position of the University as at 31 December 2016 and of its performance as represented by the results of its operations and its cash flows for the year ended on that date, and
c.there are reasonable grounds to believe that the University will be able to pay its debts as and when they become due and payable;
d.resolve that it would be in order to finalise the financial statements and notes in the form presented to the meeting; and

Council resolved to approve the submission of financial statements for the year ended 31 December 2016 for the University and its controlled entities to the NSW Minister for Education and the Auditor-General of NSW as required by Section 41A of the Public Finance and Audit Act 1983 (NSW).

Council resolved to note that the draft financial statements for the year ended 31 December 2016 are subject to audit and changes may be required as a result of that process.

Council resolved to approve the write-off of assets, in accordance with Council’s Reserved Matters C5.6.

ITEM: 2016 Draft Annual Financial Reports - Controlled Entities - TUNRA

Council resolved to note the draft Annual Financial Reports for Year End 31 December 2016 for the University of
Newcastle Research Associates (TUNRA); and note the statutory reports from TUNRA including the Annual Assurance Statement and Annual Risk Management Report.

ITEM: 2016 Draft Annual Financial Reports - Controlled Entities - Newcastle UON Singapore Pte Ltd

Council resolved tonote the draft Annual Financial Reports for Year End 31 December 2016 for UON Singapore Pte Ltd; and
note the statutory reports from UON Singapore Pte Ltd including the Annual Assurance Statement and Annual Risk Management Report.

ITEM: UON Annual Assurance Statement

Council resolved to note and consider any risks arising from the 2016 University of Newcastle’s Annual Assurance Statement.

ITEM: Draft Fraud Risk Questionnaire - Management

Council resolved to note the template Fraud Risk Questionnaire - Management for the Year Ended 31 December 2016.

ITEM: Draft Fraud Risk Questionnaire - Governance

Council resolved to note the template for the Fraud Risk Questionnaire – Governance; and authorise the Chair of the Finance Committee to complete the Fraud Risk Questionnaire – Governance, on behalf of the Council, following the Council meeting on 10 February 2017.

ITEM: Draft Management Representation Letter to Council

Council resolved to note the draft Management Representation Letter to Council relating to the audit of the 2016 Financial Statements.

ITEM: Draft Council Representation Letter to Audit Office

Council resolved to note the draft Council Representation Letter to the NSW Audit Office relating to the audit of the 2016 Financial Statements.

ITEM: Council and Management Values

Council resolved to refer the draft Statement of desired Council and Management culture to the People and Culture Committee for further consideration.

Next Council meeting

Friday 31 March 2017.