Purpose

The purpose of this document is to provide information that is commonly required when the University responds to tenders.

University Legal Name

The Statutes Amendment (Universities) Bill 2016 was debated and passed by the Legislative Council on the 28 September 2017  to change our name from "The Flinders University of South Australia" to "Flinders University".

The University was established in1966.

Other Registered Business Names - (these are part of the University and are not separate legal entities). If you require assistance with business name registration please email business.names@flinders.edu.au

Business Name Area College
Flinders Vision  Optometry Nursing and Health Sciences
Southgate Solutions Flinders Prevention, Promotion and Primary Health Care Medicine and Public Health
Flinders University Hearing Services Audiology Nursing and Health Sciences
Flinders University Psychology Clinic Psychology Education, Psychology and Social Work
Centre for Remote Health Medicine Medicine and Public Health
South Australian Academy of the Arts Arts Humanities, Arts and Social Sciences
South Australian Academy of Creative Arts Arts Humanities, Arts and Social Sciences

University Corporate Status

Flinders University is a body corporate established by an Act of the South Australian Parliament. http://www.flinders.edu.au/about/governance/university-legislation/ 

Flinders University of South Australia Act 1966 link

Under the Commonwealth Government's ABN Lookup website link the University is listed as an "Other Incorporated Entity".  This is defined as "Other incorporated entity includes an entity that has the same characteristics as a company but is not incorporated as a corporation's law company".

Flinders University of South Australia Act is analogous to a company constitution.  As the University is not a company it does not have an Annual General Meeting (AGM). 

The University has no shareholders and pays no dividends.  Surpluses achieved are fully reinvested into the University.

The University's Australian Business Number (ABN) is 65 542 596 200.

Note:
The University is NOT a company, partnership, association or trust.  As it is not a company, it is not registered with ASIC.  It does not have Pty or Ltd after its name as it is not a company.  However the University has full corporate powers.

Taxation Status

The University is a not-for-profit entity.  It is an income tax exempt charity (ITEC) and a deductible gift recipient (DGR).  This means that donations of $2 or more are tax deductible to the donor.

Below are copies of the University's ABN registration and Charity Tax Concessions registered certificates, however this does not prove that Flinders University has the tax status as of now.  Go to http://abr.business.gov.au/ and enter Flinders University to look at the official government statement update.

ABN Registration Certificate.pdf (PDF 165KB)

Flinders Charity Tax Concessions Certificate.pdf (PDF 149KB)

Flinders University was registered with the Australian Charities and Not-for-Profits Commission on 3 December 2012.

The University is not a Public Benevolent Institute (PBI).

Is Flinders University registered for VAT?  No, Flinders University is registered for Australian GST.

If you are not registered for VAT, are you obliged to charge any other local taxes/charges?  Flinders University is obliged to charge Australian Goods and Services Tax (GST) where applicable at the rate of 10%.

  

Key Financial Data

Annual Financial Statements

Annual Reports, including annual financial statements are at -
http://www.flinders.edu.au/about/governance/annual-reports/

  2016 Annual Financial Statements (PDF 631KB)

  2015 Annual Financial Statements (PDF 5MB)

  2014 Annual Financial Statements (PDF 1MB)

  2013 Annual Financial Statements.pdf (PDF 5MB)

  2012 Annual Financial Statements (PDF 2MB)

 

2016
$m

2015
$m

 2014
$m

2013
$m

2012
$m

Revenue 476.6 456.0 435.1 431.8 394.4
Expenses (449.2) (439.5) (419.2) (396.8) (362.9)
Surplus 27.4 16.5 15.9 35.0 31.5
Cash & Investments 129.6 106.9 128.3 230.5 225.6
Property, Plant and Equipment 618.6 603.2 556.8 444.2 397.9
Total Assets  841.1  808.0 784.2  764.8  713.1
Liabilities (144.8) (149.5) (145.7) (132.0) (125.9)
Net Assets 696.2 658.5 638.5 632.8 587.2
Current Ratio  1.5  1.25 1.77 3.57   4.01

Financial Reporting

The University works on a calendar financial year (1/1 to 31/12).  The Annual Financial Statements for the previous year are not approved until Council meets in May the following year and after which the statements are reviewed and signed off by the Auditor General.  The University is required to have Annual Financial Statements completed by 30 June.

The annual financial statements are audited by the South Australian Auditor-General Department, 9th Floor, State Administration Centre, 200 Victoria Square, Adelaide, South Australia.

The University's internal audit is outsourced to KPMG.

Corporate Structure

The University is the parent entity.  The corporate structure is shown in the attached diagram.

Flinders University Corporate Structure (PDF 430KB)

The 2016 financial statements Note 35 Subsidiaries and Note 36 Jointly controlled operations and assets, provides the nature of business for each entity.

Insurance

The University has a comprehensive insurance program in place as part of its risk management.  Key policies include:

  • Industrial Special Risks (ISR) (property insurance), sum insured limit $1.7b
  • Public Liability Insurance, sum insured $250m, excess $5,000
  • Professional Indemnity Insurance, sum insured $20m any one loss, $60m in aggregate, excess $5,000

These Insurance Certificates of Currency are to be used only for the tender process.

General and Product Liability Protection Insurance 2017-2018.pdf (PDF 115KB)
Property Insurance 2017-2018.pdf (PDF 117KB)
Certificate of Currency University Combined Liability 2017-2018.pdf (PDF 244KB)
 

If certificates for other than the tender process are required email riskandinsurance@flinders.edu.au as the certificates may not automatically cover every situation.  In some cases we need to make new disclosures to the insurer.

Annual insurance coverage is for the period 1/11 to 31/10.

Workers Compensation

In South Australia the University is a Self Insured Employer under ReturnToWork(SA) which means that we cover all our workers compensation costs. ReturnToWork(SA) does not issue a certificate but they carry out regular audits to ensure that the University is meeting the required Performance Standards to enable continued self insurance.

The University has in place excess of loss insurance cover.

Workers Compensation SA Excess of Loss 2017-2018.pdf (PDF 99KB)

University staff employed in other states are covered by separate workers compensation insurance companies as required by the relevant authorities in each state.

Authorised Persons

University authorised signatories for contracts are listed in the Delegation of Authority to Enter into Contracts Policy.