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Board of Veterinary SurgeonsOF NEW SOUTH WALES

Annual ReportAnnual ReportAnnual Report

2005 - 20062005 - 20062005 - 2006

Veterinary Surgeons Board OF NEW SOUTH WALES

55 Portman St, Zetland NSW 2020 AustraliaP.O. Box 6391, Alexandria NSW 2015 AustraliaPhone: 02 9699 4477 Fax: 02 9699 4488

ABN 93 831 750 859

Website: http://www.vsb.nsw.gov.auGeneral Queries: [email protected]

30 November 2006

Hon. Mr Ian Macdonald MLCMinister for Primary IndustriesGovernor Macquarie Tower1 Farrer PlaceSYDNEY NSW 2000

Dear Mr Macdonald

The Annual Report for the fi nancial year 1 July 2005 to 30 June 2006 is submitted to you pursuant to Sections 7, 8 and 9 of the Annual Reports (Statutory Bodies) Act 1984.

The Annual Report will now be printed and distributed.

Yours faithfully

Glenn LynchRegistrar


Report of OperationsReport of Operations1 July 2005 - 30 June 20061 July 2005 - 30 June 2006

Pursuant to Sections 8 & 9 of the Pursuant to Sections 8 & 9 of the Annual Reports (Statutory Bodies) Act 1984Annual Reports (Statutory Bodies) Act 1984

Report of Operations 2005 - 2006

TABLE OF CONTENTS

1. Charter and Aims ..................................................................................... 1

2. Management and Structure ................................................................... 2

3. Administrative Staff and Structure ....................................................... 3

4. Summary Review of Operations ........................................................... 4

5. Main Issues ............................................................................................... 6

6. Factors Affecting the Board ................................................................... 7 Ethnic Affairs Priority Statement ...........................................................................................7

7. Veterinary Surgeons Investigating Committee ................................... 9

BOARD OF VETERINARY SURGEONS OF NSW

Report of Operations 2005 - 2006 1

Ministerial ResponsibilityThe Veterinary Surgeons Act 1986 was within the portfolio of the Minister for Primary Industries, The Honourable Ian Macdonald MLC.

Management and StructureThe Board is appointed by the Governor and Section 5 of the Veterinary Surgeons Act 1986 provides that the Board shall consist of six members.

Term of Offi ceThe appointment of all current members of the Board commenced on 1 January 2003 and expired on 31 August 2006.

MeetingsThe Board meetings are held monthly at 55 Portman Street, Zetland NSW 2017.

RegistrarMr Glenn Lynch was appointed Registrar on 6 February 2005.

CharterThe Board of Veterinary Surgeons of New South Wales is constituted under Section 4 of the Veterinary Surgeons Act 1986 and is responsible for the keeping of the Roll of veterinary surgeons registered to practise in New South Wales and for the licensing of Veterinary Hospitals. The Board also has responsibility for the regulation of the conduct of veterinary surgeons and compliance with the standards of practice of veterinary science.

AimsThe Board aims to act in the interests of the welfare of

animals and the public interest in ensuring that the practise of veterinary science in NSW is performed only by registered veterinary surgeons in suitable licensed premises. The Board aims to consult with other State Veterinary Boards and the Australasian Veterinary Boards Council Inc. (AVBC) and organisations representing the interests of members of the veterinary profession and users of veterinary services with a view to achieving the purposes of the Veterinary Surgeons Act 1986.

Access to the BoardThe offi ce of the Board is located at 55 Portman Street, Zetland NSW 2017.

The postal address of the Board is PO Box 6391 Alexandria NSW 2015.

The Registrar can be contacted in person between 9.00am and 5.00pm Monday to Friday

Telephone: 02 9699 4477Facsimile: 02 9699 4488Email: [email protected] The Board maintains and regularly updates a website at: http://www.vpb.nsw.gov.au.

CHARTER AND AIMS



Membership of the Board and Attendance at Meetings 1 July 2005 - 30 June 2006

NAME NOMINEE MEETING ATTENDANCEDr Garth McGilvray BVSc

President

Nominee of the NSW Division of Australian Veterinary Association pursuant to Section 5(2)(a) and appointed as President

10/11

Dr David Evans BVSc Nominee of the Senate of the University of Sydney 9/11

Dr Tanya Carter BVSc Nominee of the NSW Division of Australian Veterinary Association pursuant to Section 5(2)(a)

10/11

Dr Ruth Thompson BVSc Nominee of the NSW Division of Australian Veterinary Association pursuant to Section 5(2)(a)

11/11

Dr Richard Jane BVSc Nominee of the Minister pursuant to Section 5(2)(b) 10/11

Dr Timothy Crisp BVSc Nominee of the Minister pursuant to Section 5(2)(b) 11/11

Duties of the Administrative StaffRegistrar

Implement Board and Investigating Committee decisions;Oversee operations;Secretary to the Veterinary Surgeons Investigating Committee;Provide support to the Board and the Investigating Committee;Provide advice to the Board, veterinary surgeons and the public.Administrative duties relating to Hospital Licences;Monitor compliance with standards for hospital licensing;Prepare Board agenda and minutes

Administrative AssistantSupport Registrar;Offi ce administrative procedures;Assist stakeholders in understanding legislation;Ensure complaince with records standards;Liaise with the profession and the public;Provide backup to the VSIC offi cer;Develop and enhance procedures for the processing of hospital licences and annual registration;IT development and maintenance;Liaise with contractors.

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•

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•••••••

••

Registration/Finance Offi cerMaintain fi nancial records;Prepare fi nancial reports;Respond to Board and Investigating Committee as required. Processing of registrations;Liaise with the profession and the public; andProvide administrative support to the Registrar.

VSIC Offi cer (part-time)Provide administrative support to Investigating Committee members;Prepare Investigating Committee agenda and minutes;Assist in implementing Investigating Committee decisions;Provide administrative support as required by the Secretary.

Human ResourcesThere has been no exceptional movement in staff wages, salaries or allowances during the fi nancial year. The staffi ng structure is similar to the previous year.

Future Staffi ngThe Board does not intend to increase the level of administrative staffi ng.

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•••

MANAGEMENT AND STRUCTURE

ADMINISTRATIVE STAFF AND STRUCTURE



ADMINISTRATIVE STAFF AND STRUCTURE


Administrative Structure of the Board and the Veterinary Surgeons Investigating Committee

Administrative Assistant

Registrar/Secretary

Veterinary Surgeons Ingestigating Commitee

VSIC Offi cer(Part time)

VeterinarySurgeons Board

Minister

Finance/ClericalOffi cer



SUMMARY REVIEW OF OPERATIONS

The Roll of Veterinary SurgeonsAt 30 June 2006 there were 2793 registered veterinary surgeons in New South Wales*. There are constant changes in the number registered.

Factors causing change are:registration of new graduates;registration of veterinary surgeons (local, other states and overseas);requests for voluntary removal from the Roll;the death of registered veterinary surgeons;restoration to the Roll of veterinary surgeons previously registered and;changes from Full registration to Honorary registration status.

••••••

The Roll of Veterinary Surgeons - Full and HonoraryChanges to Numbers Between 1 July 2005 and 30 June 2006

MONTH NEW REG RESTORED REMOVED DEATHS

July 10 3 6 1

August 12 5 6 0

September 7 8 19 0

October 5 0 33 0

November 36 12 18 0

December 51 7 81 0

January 39 17 33 2

February 13 10 0 0

March 22 10 2 3

April 8 6 2 1

May 11 2 5 1

June 7 2 0 1

TOTALS 221 82 205 9

*NOTES In 2005-6, the Board granted nine applications for limited registration. At 30 June 2006, ten grants of limited registration were current. Honorary registrants do not pay the annual fee. As at 30 June 2006, there were 187 honorary veterinary surgeons.

••••



The Roll Of Veterinary SpecialistsThe Advisory Committee on Registration of Veterinary Specialists (ACRVS) is a Committee of the Australasian Veterinary Boards Council Inc. The ACRVS assesses applications by veterinary surgeons from all States and New Zealand for Specialist registration in specifi c categories and makes the appropriate recommendation to the relevant Board for registration if its criteria are met.

The ACRVS was established by the Australasian Veterinary Boards Council in 1985 to offer guidance to the State Boards as to qualifi cation for Specialist registration in order to achieve a consistent National standard.

Specialists Registered1 July 2005 - 30 June 2006

As at 30 June 2006 there were 116 registered veterinary specialists in NSW.

REG. DATE NAMEName SPECIALIST CATEGORY14/02/2006 John Benedict Chopin Veterinary Reproduction - Equine Reproduction

8/05/2006 Robert James Hardie Veterinary Surgery - Small Animal Surgery

16/05/2006 Robert Seymour Rahaley Veterinary Pathology

20/06/2006 Elisabeth Edith Kadar Veterinary Medicine - Small Animal Medicine

The Register of Veterinary HospitalsDuring the fi nancial year 2005-2006 the Board approved licences for 21 new veterinary hospitals in New South Wales. There were 583 Veterinary Hospitals licensed at 30 June 2006.



Hospital InspectionsThe Registrar continued to perform Hospital Inspections which has enabled the Board to systematically collect information as to the level of compliance with the minimum standards for premises where acts of veterinary science are performed. The Registrar has inspected all premises currently licensed since October 2001 and the Board is confi dent that all premises meet the expectation that they are equipped and maintained according to the minimum standards.

Australasian Veterinary Boards Council Inc. (AVBC)The Boards in each State and New Zealand constitute the members of the AVBC and provide funding for its activities. The AVBC monitors common issues plus education and training standards and co-ordinates the National Veterinary Examination (NVE) by arrangement with the National Offi ce of Overseas Skills Recognition. The NVE is a pre-requisite for registration in Australia and New Zealand of graduates of overseas institutions whose qualifi cations are not recognised in local legislation.

WebsiteThe Boardʼs website is very comprehensive and includes Board details and information on legislation and the complaint handling process. A search facility enables a limited on-line search of the Register of veterinary surgeons and the Register of Veterinary Hospitals. There are links to relevant sites including the Australian Veterinary Association and other State and New Zealand Board sites. All of the relevant forms needed for registration and hospital licensing can also be downloaded from the site.

BoardtalkThe Board published the newsletter Boardtalk in August and December 2005 and April 2006. Boardtalk is sent to every registered veterinarian and is available on the Boardʼs website. The Board uses Boardtalk to inform the veterinary profession about current issues and developments affecting the work of the Board and the regulation of the veterinary profession.

FeesFees payable to the Board were fi xed by regulation in September 2003. The Minister for Primary Industries must approve all fees applicable under the legislation. The Minister approved a reduction in the annual hospital licence fee from $345 to $250 in March 2006. The fee for annual veterinary registration remained at $235. The Board has established a cash reserve to cover contingencies including projected legal costs associated with the Veterinary Surgeons Investigating Committee and cases in the Administrative Decisions Tribunal.

Student PermitsThe Board issued permits to students of Veterinary Science in the fi nal years of their Degree studies with a view to facilitating their practical clinical training prior to graduation. 249 permits were issued to students from Sydney University and other Australian Universities during the fi nancial year.

PremisesThe Board leased its current premises at 55 Portman St Zetland in March 2002. The premises provide suitable facilities for the staff of the Board and for the Board and Committee members.

Continuing Veterinary EducationThe Board in consultation with the AVBC and the profession progressed the voluntary implementation of the national Continuing Professional Development (CPD) programme in NSW, which will meet the needs of practitioners and the expectations of users of veterinary services in the future. It is expected that reporting of CPD activities will become compulsory under the Veterinary Practice Act 2003.

Payment of AccountsThe Board pays all its accounts promptly and within the indicators set by the Treasurer. It is standard operating procedure to pay accounts as soon as is practicable and in any event within 30 days.

MAIN ISSUES DEALT WITH BY THE BOARD


Legislative Change -The Veterinary Practice Act 2003The Veterinary Practice Act 2003 was given assent on 6 December 2003. Some sections of the new Act commenced in May 2005. The Veterinary Practice (Savings and Transitional) Regulations 2005, was gazetted on 1 July 2005. The complementing Veterinary Practice Act Regulations 2006 became effective on 1 September 2006.

The new Board Members were appointed on 27 September 2006 and are currently operating under the new legislation and using the transitional Regulations.

Economic FactorsThe Board is in a fi nancially sound position and is not aware of any substantial contingent liabilities. Equal Employment OpportunityThe Board complies with Equal Employment Opportunity principles in its policies and procedures relating to employment.

Disability PlansThe Board does not have a formal disability plan. Special arrangements are made as required to meet the needs of those with disabilities. Staff have undertaken training in relation to the needs of people with disabilities and disability awareness.

ConsultantsThe Board did not engage any consultants at a cost in excess of $30,000 per annum during the fi nancial year 2004-2005.

Land DisposalThe Board has developed a Property Disposal Plan. The Board does not own any real estate.

Research and DevelopmentThe Board has established measures to collect information about the employment patterns of registered veterinary surgeons and results are published in Boardtalk from time to time. The Board will consider requests to make the information available to other agencies on request for specifi ed purposes.

Promotion of Information about the BoardThe Board issues the following publications:

Annual Report. Annual Veterinary Surgeons Register. The newsletter ʻBoardtalkʼ. Website.

Boardtalk, the annual reports, the Veterinary Practice Act 2003 and the Veterinary Surgeons Act 1986 and related legislation is available on the Boardʼs website. A search facility for the Roll and Hospital Licences are also available on the website.

••••

Overseas VisitsNo overseas visits were taken by Members, offi cers or employees of the Board during the year.

Consumer ResponseThe Veterinary Surgeons Investigating Committee (VSIC) dealt with formal complaints of professional misconduct by veterinary surgeons. Other references relating to activities associated with the veterinary profession made to the Board by consumers, veterinary surgeons and the public are dealt with by the staff of the Board and referred to the Board as required. As far as is practicable the staff provide an immediate response by telephone, e-mail or fax. The staff have a broad knowledge of the kinds of advice usually required including practical information and may offer referral to more appropriate agencies. Written references are considered at a Board meeting and the Registrar replies as directed by the Board.

Risk Management and Insurance ActivitiesThe Board maintains insurance cover through the Treasury Managed Fund for its assets and any liability of staff and Board members. It also maintains Workers Compensation insurance as required by the Workers Compensation legislation.

Controlled EntitiesThe Veterinary Surgeons Investigating Committee is the only other entity associated with and fi nanced by the Board. A detailed statement on the operations and activities of the Committee is included in this report.

Ethnic Affairs Priorities Statement (EAPS)The Board upholds its Ethnic Affairs Priorities Statement.

The statement confi rms the commitment of the Board of Veterinary Surgeons to the Principles of Multiculturalism and refl ects how services and facilities are accessible to all residents of this State. The Board appplies the Statement equally to all people regardless of their Australian immigration status.

No ethnic affairs agreement has been entered into between the Board and the Community Relations Commission.

Ethnic Affairs Action PlanThe Board has implemented the Ethnic Affairs Action Plan by:

Circulating information and providing training that will assist staff to respond effectively to ethnic affairs issues. Developing a fi eld in the database of licensed Veterinary Hospitals that records information as to the languages other than English that are spoken at the Hospital and making that

•

•


FACTORS AFFECTING THE BOARD



information available to the public on request.Providing for special needs of potential staff in the recruitment process for Finance Offi cer and Administrative Support Offi cer positions.Working to ensure on a daily basis that all members of the public who communicate with the Boardʼs offi ce receive information in a form that is understood by them.

The Board proposes to continue its current strategies in relation to implementation of the Plan.

NSW Government Action Plan for WomenThe Board is committed to ensuring that the Governmentʼs philosophy in relation to women and womens ̓ issues is implemented in all aspects of the functions of the Board. At all times during the fi nancial year half the staff of the Board were women. Many registered veterinary surgeons are women and about two-thirds of new graduate registrants are women. The staff of the Board have frequent contact with users of veterinary services and are well trained in meeting the needs of all clients of the Board including women.

Occupational Health and SafetyThe Board is aware of its occupational health and safety obligations and informs staff by way of a noticeboard of relevant changes. No work related injuries were reported during the year and the Board was not prosecuted in respect of any occupational health and safety related illnesses.

Delivery of Electronic ServicesThe Board is able to provide many services by electronic means including the provision of forms and documents by e-mail and the website. The Board uses e-mail extensively for communication with and the provision of information to the profession and the public. Board and Committee members frequently exchange information electronically. The Board and its staff recognise the savings in time and costs which are achieved by the use of electronic communications and services. The use of the website by clients is a quick and effi cient method of sourcing forms and searching of the databases for veterinary surgeons and Hospitals details. The use of the website greatly minimises administration processes allowing staff to focus on other duties.

Collection of Data about the Veterinary ProfessionDuring the year the Board collated existing data and collected additional statistical information from registered veterinary surgeons. The Board is able to provide accurate statistical information to the Government and other stakeholders on request. The statistics in relation to veterinary surgeons include:

gender;date of birth;employment fi eld;degree, andyear and university from which the degree was obtained.

•

•

•••••

No new information was collected in relation to Veterinary Hospitals. Information available from previous years includes:

numbers of veterinarians, Veterinary Nurses and support staff;working hours;employment of locums;supervision of students;employment of new graduates; andtype of practice and employment of persons who speak a language other than English.

The Board aims to provide a detailed statistical overview of the veterinary profession in NSW and to be in a position to identify trends and changes within the profession.

The Boardʼs offi ce staff receive and respond to queries regarding statistical information relating to veterinary surgeons and Veterinary Hospitals in NSW.

Flexible Work PracticesThe Board recognises the importance of fl exibility for all employees to balance their work and personal responsibilities more effectively.

Flexible work arrangements offered to employees include job sharing, part time work, career breaks and fl exible working hours.

Records ManagementThe Board maintains a comprehensive Records Management Policy in compliance with its obligations under the State Records Act 1998. Staff participate in the State Records Small Agencies Forum and attend training programmes. Staff apply the Records Management Policy Procedures and the Boardʼs records are maintained in electronic and hardcopy format to a high standard.

•

•••••



MEMBER APPOINTMENT MEETING ATTENDANCEMrs Lorraine Smith LIBChairperson

Solicitor – pursuant to Section 24(3)(a) 12/12

Dr Theodora Kletsas BVSc Nominee of the Minister pursuant to Section 24(3)(b)

12/12

Dr John Alexander BVSc Nominee of the NSW Division of Australian Veterinary Association pursuant to Section 24(3)(c)

12/12

Dr Tanya Carter BVSc Member of the Board pursuant to Section 24(3)(d)

10/12

Mrs Beverley Oakes Consumer Representative pursuant to Section 24(3)(e)

12/12

VETERINARY SURGEONS INVESTIGATING COMMITTEE (VSIC)

Constitution and FunctionThe Veterinary Surgeons Investigating Committee is constituted under Section 24 of the Veterinary Surgeons Act, 1986. The fi ve members were appointed by the Minister for Primary Industries. The Committee investigates complaints of professional misconduct made against registered veterinary surgeons.

The Committee members were appointed on 1 January 2003. The appointment of all current Committee members expires on 31 August 2006. The Committee meets once a month and more fequently as required.

Membership of the Investigating Committee and Attendance at Committee Meetings

1 July 2005 - 30 June 2006



New and Finalised Complaints by Month1 July 2005 - 30 June 2006

MONTH NEW COMPLAINTS FINALISED COMPLAINTS

July 2005 4 4

August 2005 3 1

September 2005 6 3

October 2005 4 5

November 2005 6 7

December 2005 1 6

January 2006 3 4

February 2006 5 2

March 2006 3 2

April 2006 5 3

May 2006 8 4

June 2006 2 5

TOTALS 50 46

Review of Veterinary Surgeons Investigating Committee OperationsDuring 2005/2006 the Investigating Committee investigated fi fty new complaints and continued the investigation of the ten complaints current at 1 July 2005. Forty six complaints were fi nalised and at 30 June 2006 there were fourteen complaints current. The Committee is precluded by Section 27(3) and 29(3) of the Veterinary Surgeons Act 1986 from publishing details of any complaints.

A case concerning one veterinary surgeon continued before the Administrative Decisions Tribunal during the year and one new complaint was referred to the Tribunal. The cost and delays apparent from the course of these cases and related appeals (to an Appeal Panel and/or the Supreme Court/Court of Appeal) continue to be of major concern to the Committee and to the Board. One of these cases was current at 30 June 2005.



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$291

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$291

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$291

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$291

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$291

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$291

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$292

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$292

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$292

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$292

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1230

Fare

s Tax

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5-14

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5-15

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Exp

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s VSB

$150

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$7,6

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AVBC

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PUBL

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5-31

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Year

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5-42

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ADMI

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06-

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06-

4520

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7340

Secu

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8,749

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9,529

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7,254

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7,039

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8,339

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0,903

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07,11

7.00

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99.00

$71,2

06.00

$64,8

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50,37

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36,84

2.00

$30,3

30.00

$18,0

30.00

$17,8

90.00

$20,1

24.00

$42,5

14.00

$145

,034.0

0$9

97,73

0.00

DIFFERENCE

-$30

,540.0

0-$

41,40

0.00

-$52

,380.0

0$2

83,12

0.00

$118

,071.0

0$7

8,503

.00-$

30,57

3. 00

-$89

,087.0

0-$

41,40

9.00

-$51

,082.0

0-$

22,38

2.00

$82,1

90.00

$202,831.00

2006

/2007

Jul

Aug

Sept

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun


Financial StatementsFinancial Statements2005 - 20062005 - 2006

Veterinary Practitioners BoardO F N E W S O U T H WA L E S

Board Of Veterinary Surgeons Of NSW

Financial Report

For the year ended

30 June 2006

2005-2006

55 Portman Street GREEN SQUARE NSW 2014

The Board of Veterinary SurgeonsIncome Statement

For the Year ended 30 June 2006

Note 2006 2005$ $

Revenue from ordinary activities

Licence & Application Fees 4(a) 899,633 886,583

Other Revenue 4(b) 81,387 111,416

Interest Income 96,183 75,853

Gain/(loss) on Sale of Non-current Assets 4(c) 2,208 -

Total Revenue 1,079,411 1,073,852

Expenses from ordinary activities

Employee Related Expenses 5(a) 215,450 247,092

Other Operating Expenses 5(b) 514,744 525,398

Total Expenditure 730,194 772,490

Surplus/(Deficit)for the YearFrom Ordinary Activities 349,217 301,362

These notes should be read in conjunction with the attached financial statements.

The Board of Veterinary SurgeonsABN 93 831 750 859

Balance SheetAs at 30 June 2006

Note 2006 2005$ $

CURRENT ASSETSCash & Cash Equivalents 6 1,836,093 1,494,455Receivables 7 55,948 57,449Other 8 31,011 26,374TOTAL CURRENT ASSETS 1,923,052 1,578,278

NON-CURRENT ASSETSReceivables 7 - 27,502Property, Plant and Equipment 9 51,182 48,951TOTAL NON-CURRENT ASSETS 51,182 76,453TOTAL ASSETS 1,974,234 1,654,731

CURRENT LIABILITIESPayables 10 52,669 85,853Provision for Employee Benefits 11 9,623 5,263Other 12 455,800 448,474TOTAL CURRENT LIABILITIES 518,092 539,590

NON-CURRENT LIABILITIESProvision for Employee Benefits 11 - 8,216TOTAL NON-CURRENT LIABILITIES - 8,216TOTAL LIABILITIES 518,092 547,806NET ASSETS 1,456,142 1,106,925

EQUITYRetained Profits 14 1,456,142 1,106,925TOTAL EQUITY 1,456,142 1,106,925


The Board of Veterinary SurgeonsStatement of Changes in EquityFor the year ended 30 June 2006

Note 2006 2005$ $

Surplus/ (Deficit) for the year 349,217 301,362 TOTAL INCOME AND EXPENSE RECOGNISED

FOR THE YEAR 15 349,217 301,362349,217 301,362


The Board of Veterinary SurgeonsCash Flow Statement

For The Year Ended 30 June 2006

Note 2006 2005$ $

Cash Flows From Operating Activities

Receipts Licence & Application Fees 906,958 884,859 Other Income 109,227 40,536 Interest Received 96,183 75,853

Total Receipts 1,112,368 1,001,248

Payments Employee Related 263,418 225,869 Other Operating Expenses 493,207 469,855

Total Payments 756,626 695,724

Net Cash from Operating Activities 13 355,742 305,524

Cash Flows From Investing Activities

Proceeds from Sale of Plant and Equipment 27,727 - Purchase of Plant and Equipment (41,831) (758)

Net Cash Flows used in Investing Activities (14,104) (758)

Net Increase/(Decrease) in Cash Balance 341,638 304,766

Cash Balance At the Start of The Financial Year 1,494,455 1,189,689

Cash Balance At the End of The Financial Year 6 1,836,093 1,494,455


The Board of Veterinary SurgeonsNotes to the Financial Statements

For the Year ended 30th June 2006

1. GENERAL

The Veterinary Surgeons Act 1986 requires that persons practising veterinary science in the State be registered with the Board. The expenses of the Board are met directly from the revenue collected by the Board mainly in the form of licence and application fees.

The financial report is authorised for issue by Dr G McGilvray on 31st October 2006.

2. FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS TO IFRS

This is the first financial report which has been prepared using AEIFRSs and as such comparatives are required to be restated as applicable. In accordance with AASB 1 First-time Adoption of Australian Equivalents to International Financial Reporting Standards and Treasury Mandates, the date of transition to AASB 132 Financial Instruments: Disclosure and Presentation and AASB 139 Financial Instruments: Recognition and Measurement has been deferred to 1 July 2005. There were no changes between the previously reported AGAAP and AEIFRS figures for net profit for the year ended 30 June 2005 and for equity as at 1 July 2005. The same accounting policies and methods of computation have generally been followed in this financial report.

3. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

The Board’s financial statements are a general purpose financial report which has been prepared in accordance with:

• applicable Australian Accounting Standards (which include Australian equivalents to International Financial Reporting Standards (AEIFRS); and

• Urgent Issues Groups (UIG) interpretations, and other authoritative pronouncements of the Australian Accounting Standards Board; and

• the requirements of the Public Finance and Audit Act 1983 and Regulations;

Property, plant and equipment are measured at fair value. Other financial statement items are prepared in accordance with the historical cost convention.

Judgements, key assumptions and estimations that management has made are disclosed in the relevant notes to the financial statements.

All amounts are rounded to the nearest one thousand dollars and are expressed in Australian currency.

(a) Cash & Cash EquivalentsFor the purpose of the cash flow statement, cash includes, cash on hand, at call deposits with banks or financial institutions and investments in money market instruments maturing within less than two months, and is reported net of bank overdrafts.

(b) Employee Benefits and other provisionsProvision is made for benefits accruing to employees in respect of wages and salaries, annual leave, and long service leave when it is probable that settlement will be required and they are capable of being measured reliably.




3. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(b) Employee Benefits and other provisions (continued)

Wages, salaries and annual leave Provisions made in respect of wages and salaries, annual leave and other employee benefits expected to be settled within 12 months of the reporting date representing present obligations resulting from employees’ services provided up to the reporting date, calculated at undiscounted amounts based on remuneration rates that the Board expects to pay including related on-costs.

Long service leave Provisions for employee benefits for long service leave represents the present value of the estimated future cash outflows to be made resulting from employees’ services provided up to reporting date.

The provision is calculated using expected future increases in wage and salary rates including related on-costs and expected settlement dates based on turnover history and is discounted using the rates attaching to national government securities at balance date which most closely match the terms of maturity of the related liabilities. The unwinding of the discount is treated as long service leave expense.

Provisions for employee benefits for long service leave have only been made for employees who have been working for the board for over 5 years. The previous provisions made for employees who have been working for the board for less than 5 years have been reversed in the year accounts ended 30 June 2006.

Superannuation plan The Board contributes to accumulation based funds chosen by each employee as per the Australian Government initiative “Super Choice”. Contributions are charged against expenditure as they are made.

(c) Property, Plant & EquipmentThe cost method of accounting is used for the initial recording of all acquisitions of assets controlled by the Board. Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire the asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognised in accordance with the specific requirements of other Australian Accounting Standards.

Assets acquired at no cost, or for nominal consideration, are initially recognised at their fair value at the date of acquisition.

Fair value means the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction.

Depreciation: Except for certain heritage assets, depreciation is provided for on a straight-line basis for all depreciable assets so as to write off the depreciable amount of each asset as it is consumed over its useful life to the Board.

All material and separately identifiable components of assets are depreciated over their useful lives.




3. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (continued)

(c) Property, Plant & Equipment (continued)

The depreciation rates used for each class of assets are:

Class of Fixed Assets Depreciation Rate Plant & Equipment 15 - 20% Computer & accessories 37.5 – 40% Motor Vehicles 12.5% Furniture & Fittings 10 - 20%

(d) LeasesLeases that substantially transfer all the risks and benefits incidental to the ownership of a leased asset, but not the legal ownership, to the Board are classified as finance leases. Finance leases are capitalised as an asset and a liability equal to the present value of the minimum lease payments, including any guaranteed residual value is brought to account. Leased assets are depreciated on a straight line basis over their estimated useful lives where it is likely that the Board will obtain ownership of the asset, or over the term of the lease. Lease payments are allocated between the lease interest expense for the period and the reduction of the lease liability. Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred. The lease incentive portion obtained through an operating lease is recognised as a liability. Lease payments are allocated between the rental expense of the operating lease and a reduction in the liability.

(e) Revenue Recognition Income in the main is derived from Veterinary Surgeons annual Roll Fees (due on 31 October for the ensuing calendar year) and annual Hospital Licence fees (due on 30 June for the ensuing financial year). Payment of Roll Fees depends upon the exercise of an election to renew registration and are recognised at the date of payment. 50% of the Veterinary Surgeons Roll Fees and 100% Hospital Licence Fees are included as Unearned Revenue and recognised as a Liability because the fees are paid in respect of the calendar year 1 January to 31 December.

Investment revenue is recognised as it accrues. (f) Accounting for the Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where:

• the amount of GST incurred by the Board as a purchaser that is not recoverable from the Australian Taxation Office is recognised as part of the cost of acquisition of an asset or as part of an item of expense.

• receivables and payables are stated with the amount of GST included.

• cash flows are included in the cash flow statement on a gross basis.

• the amount of recoverable GST in respect of cash flows from financing and investing activities is disclosed as operating cash flows.




2006 2005$ $

4. REVENUES

(a) Licence & Application Fees

Hospital Application Fees 2,875 2,875Hospital Licence Fees 223,120 219,765Application Roll Registration Fees 26,335 24,265Annual Roll Fees 621,768 607,003Restoration Roll Fees 19,505 22,090Restoration Roll Penalty 2,115 5,640Limited Registration 2,765 2,070Other Licence and Application Fees 1,150 2,875

899,633 886,583

(b) Other Revenue

Recovery Legal Fees 65,815 78,129Student Practice Fees 6,225 3,075Letters of Professional Standing 7,065 7,245Roll Sales 600 2,222

Recovery VSIC Costs - 20,745 Inspection Fees 1,500 - Miscellaneous Services Fees 182 -

81,387 111,416

(c) Gain/(loss) on Sale of Non-current Assets

Gain/(loss) on Sale of Non-current Assets 2,208 -

2,208 -

5. EXPENSES

(a) Employee Related Expenses

Salaries & Wages 193,971 215,583Consultancy Fees - External Salary Fees 453 3,432Other Employee Related Expenses 21,026 28,077

215,450 247,092




(b) Other Operating Expenses2006 2005

$ $AVBC Contribution & Meeting Expenses 48,924 54,898Auditor's Remuneration 9,610 8,610Accounting 11,340 10,790Bank Charges 8,288 6,829

Bad Debts Written Off 6,224 10,373Board Meeting Fees & Expenses 79,919 106,744Board Publication Expenses 15,388 10,208Committee Meeting Fees & Expenses 172,000 159,988Depreciation 14,084 18,135

Leases Office Equipment 2,621 2,840 Legislation update costs 7,747 -

Other Operating Expenses 32,694 37,746Postage 16,315 14,930Printing 1,431 683Rent 70,075 63,360Stores 3,167 5,686Telephone 13,268 11,903Travelling Expenses 1,649 1,675

514,744 525,398

6. CASH & CASH EQUIVALENTS

Cash at Bank 59,347 72,547Deposit - T Corp A&B 1,776,446 1,421,608Cash - Petty Cash 300 300

1,836,093 1,494,455

The Board has a finance facility with Westpac of $10,000 as at 30th June 2006. The outstanding balance was nil.

7. RECEIVABLES

CurrentDeposits 14,435 14,435Sundry Debtors 7,684 2,624Trade Debtors 29,680 30,018Other Debtors 20,745 20,745Less Allowance for Doubtful Debts (16,596) (10,373)

55,948 57,449

Non-CurrentNon Current Receivables - 27,502

- 27,502




2006 2005$ $

8. PREPAYMENTS

Prepayments 31,011 26,37431,011 26,374

9. PROPERTY, PLANT & EQUIPMENT

At Fair Value 83,184 80,822Less Accumulated Depreciation (32,002) (31,871)Total Plant & Equipment 51,182 48,951At Net Book Value 51,182 48,951

Carrying amount at start of year 48,951 66,328 Additions 41,831 758 Disposals (25,516) - Depreciation (14,084) (18,135)

Carrying amount at end of year 51,182 48,951At Net Book Value 51,182 48,951

10. PAYABLES

Sundry Creditors 475 1,400Accrued Salaries 6,794 4,363

Accrued Charges 19,800 16,000Trade Creditors 15,282 25,638

Other Creditors 10,318 38,452 52,669 85,853

11. PROVISION FOR EMPLOYEE BENEFITS

Current Provision for Annual Leave 9,623 5,263

9,623 5,263

Non-Current Provision for Long Service Leave - 8,216

- 8,216




2006 2005$ $

12. OTHER LIABILITIES

Income in advance 455,800 448,474455,800 448,474

13. RECONCILIATION OF CASH FLOWSFROM OPERATING ACTIVITIES TO OPERATING SURPLUS FROM ORDINARY ACTIVITIES

Net Cash used on Operating Activities 355,742 305,524 Increase/(Decrease) in Receivables (29,004) 58,545 Increase/(Decrease) in Prepayment 4,638 (10,542) (Increase)/Decrease in Payables 33,186 (47,276) Changes in Provisions 3,856 11,523 Depreciation (14,084) (18,135) (Increase)/Decrease in Prepaid Income (7,325) 1,723 Profit on Sales of assets 2,208 - Operating Surplus/(Deficit) from Ordinary Activities 349,217 301,362

14. RETAINED PROFITS

Retained profits at the beginning of the financial year 1,106,925 805,563

AddNet surplus 349,217 301,362

Retained profits at the end of the financial year 1,456,142 1,106,925

15. CHANGES IN EQUITY

Balance at the beginning of the year 1,106,925 805,563 Other changes in accounting policy - -

Restated opening balance 1,106,925 805,563

Changes in equity – other than transactions with owners as owners Surplus/(deficit) for the year 349,217 301,362

Balance at the end of the financial year 1,456,142 1,106,925




16. FINANCIAL INSTRUMENTS

Financial instruments include cash, receivables and payables and are shown in the financial records at cost. All financial instruments including revenues, expenses or other cash flows arising from instruments are recognised on an accruals basis.

Cash Cash comprises cash at bank and cash on hand. The value of the cash as at 30 June 2006 was $1,836,093 (30 June 2005 - $1,494,455). The cash at bank earned interest at the weighted effective interest rate of 5.7%.

Receivables All debtors are recognised as amounts receivable as at 30 June 2006. A further 30% of provision has been made for doubtful debts on the receivables of $20,745 recognised in 2005 year for a matter involving a successful Administrative Tribunals Decision (ADT) and the Veterinary Surgeons Investigating Committee (VSIC) where the costs of the matter were awarded to VSIC. However the respondent Dr Temmingh had other simultaneous Commonwealth convictions and the recovery of the VSIC costs is considered uncertain. The provision for doubtful debts as at 30 June 2006 was $16,596 (30 June 2005 - $10,373).

Interest is not charged on late payment of debts. Penalties and late fees are applied after the due date for payment of fees as provided in Veterinary Surgeons Regulation 1995-Schedule 3. The value of receivables as at 30 June 2006 was $55,948 (30 June 2005 - $84,951).

Payables The liabilities are recognised for amounts due to be paid in the future for goods and services rendered whether or not invoiced. Amounts owing to suppliers (which are unsecured) are settled in accordance with the policy set out in Treasurer’s Direction 219.01. If trade terms are not specified, payment is made no later than the end of the month following the month in which an invoice or a statement is received. Treasurer’s Direction 219.01 allows the Minister to award interest for late payment. The value of payables as at 30 June 2006 was $52,669 (30 June 2005 - $85,853).

RevenueRevenue from the sale of goods is recognised upon the delivery of goods to customers. Unearned Income is recognised upon the receipt of payments in advance for annual roll fees. Revenue is then recognised and brought into account over time as it is earned.




17. COMMITMENTS

Operating Lease Commitments: 2006 2005 $’ 000 $’ 000

Less than one year 69 59Later than one year and not later than five years 189 -

Total 258 59

GST of $23,500 was included in the above totals.

18. AEIFRS RECONCILIATION

The Board has determined that there are no key areas where changes in accounting policies impact the financial report due to adoption of AEIFRS.

19. CONTINGENT LIABILITIES

The Board is not aware of any contingent liabilities or assets associated with the operation.

END OF AUDITED FINANCIAL REPORT



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