THE COUNCIL OF THE PHARMACEUTICAL … · the council of the pharmaceutical society ... 4cf. annuai report 1/ 2008 (. i p i-'u the council of the pharmaceuticat society of western

THE COUNCIL OF THE PHARMACEUTICAL SOCIETY

OF WESTERN AUSTRALIA

4cf.ANNUAI REPORT 1/2008

(. pI

I

-'U

THE COUNCIL OF THE PHARMACEUTICAT SOCIETY

OF WESTERN AUSTRALIA

ANNUAL REPORT2008

LtoR: A.L. Bryce M.P.S., R.E. Carr EP.S., Associate Professor R.M. Clifford EPS.,R.J. Brennan (Registrar), Professor M.J. Garlepp M.PS., (Deputy President andHonorary Treasurer), Z.L. Mullen EPS., J.L. Harvey EPS. (President),and M. Oz M.PS.

Lto R: A.L. Bryce M.PS., R.E. Can ̂ EPS., Associnte Professor R.M. CliffordEPS.,R.J. Brennan (Registrar), Professor M.J. Garlepp M.PS., (Deputy President andHonorary Tfeasurer), Z.L. MuIlen,EPS., J.L. Harvey EP.S. (President),and M. Oz M.PS.

PHARMACEUTICAL COUNCILOF

WESTERN AUSTRALIA

President:Z.L. MULLEN, F.P.S to October 2008

J.L.HARVEY F.P.S. from October 2008

Members of the Council:

A. L. BRYCE, M.P.S. M. J. GARLEPP, M.P.S.R.E. CARR, F.P.S. Z.L. MULLEN, F.P.S.R.M. CLIFFORD, F.P.S. M. OZ, M.P.S

RegistrarR.J. BRENNAN

Assistant to the RegistrarIF. ZAKNICH

Manager, Continuing Education ProgrammesM.A. WEIDINGER, M.P.S. to June 2008

L.A. GREGORY, M.P.S. from September 2008

Manager, Training ProgrammesL.J. SEUBERT, M.P.S. to November 2008

R.E. CUSACK, M.P.S. from November 2008

Pharmacist Field OfficerT. van BRONSWIJK, M.P.S.

Address21 Hamilton Street, Subiaco, 6008

Telephone (08) 9388 2886Fax: (08) 9388 2940

E-Mail - [email protected] - www.pcwa.com.au

PAST PRESIDENTS

EDWARD MAYHEW 1892-05 JOHN M. OHARA 1970-75EZRA PARRY 1906-09 ERIC G. KIRK 1975-77ARTHUR L. TILLY 1910-15 NEIL J. GENEVE 1977-8 1EDWARD A. SAGAR 1916-18 GLADYS A. HEEDES 198 1-83JOSEPH B. GEORGE 1919-21 GEOFFREY C. MILLER 1983-86FRED P. GULLEY 1922-34 GEOFFREY J. LUDKINS 1986HUGH 0. HOWLING 1934-43 JOHN M. OHARA 1986-87THOS D.H. ALLAN 1943-50 IAN C. HAMILTON 1987-9HARRY D. FITCH 1950-54 KEVIN T. McANUFF 199 1-95REGINALD I. COHEN 1954-59 MALCOLM J. ROBERTS 1995-96GEORGE H. DALLIMORE 1959-63 KEVIN T. McANUFF 1996-04ALAN C. McWHINNEY 1963-67 Z. LENETTE MULLEN 2004-08STANLEY T. HUGHES 1967-70 JOHN L. HARVEY 2008-

President:Z.L. MULLEN, F.P.S to October 2008

J.L.HARVEY F.P.S. from October 2008

Members of the Council:

A. L. BRYCE, M.P.S.R.E. CARR, F.P.S.R.M. CLIFFORD, F.P.S.

M. J. GARLEPP, M.P.S.Z.L. MULLEN, F.P.S.M. OZ, M.P.S

RegistrarR.J. BRENNAN

Assistant to the RegistrarI.F. ZAKNICH

Manager, Continuing Edacation ProgrammesM.A. WEIDINGER, M.P.S. to June 2008

L.A. GREGORY, M.P.S. from September 2008

Manager, Training ProgrammesL.J. SEUBERT, M.P.S. to November 2008

R.E. CUSACK, M.P.S. from November 2008

P h arm u cist F ie ld OIfrc erT. van BRONSWIJK. M.P.S.

Address2l Hamilton Street, Subiaco,6008

Telephone (08) 9388 2886Fax: (08) 93882940

E-Mail - [email protected] - www.pcwa.com.au

PASTPRESDENIS

EDWARD MAYHEWEZRAPARRYARTHURL. TILLYEDWARDA. SAGARJOSEPH B. GEORGEFRED P. GULLEYHUGH O. HOWLINGTHOS D.H. ALLANHARRYD. FITCHREGINALDI. COHENGEORGEH. DALLIMOREALAN C. McWHINNEYSTANLEYT. HUGHES

1892-051906-091910-15l9 l6-1819t9-2r1922-341934431943-501950-5419s4-59r9s9-631963-671967-70

1970-7s1975-771977-8r1981-83r983-8619861986-871987-91l99l-95r99s-961996-042004-082008-

JOHNM. O'HARAERIC G. KIRKNEIL J. GENEVEGLADYS A. HEEDESGEOFFREY C. MILLERGEOFFREY J. LUDKINSJOHNM. O'HARAIAN C. HAMILTONKEVINT. McANUFFMALCOLM J. ROBERTSKEVINT. McANUFFZ.LENETTE MULLENJOHNL. HARVEY

Annual Report & Financial Statements 2008

ONE HUNDRED AND SEVENTEENTH

ANNUAL REPORT

I1. PURPOSE AND STRUCTURE

The Pharmaceutical Council of Western Australia is a body corporate constituted bySection 7 of the Pharmacy Act 1964 for the purposes of:

the management of the Pharmaceutical Society of Western Australia,an unincorporated association established in 1892; andthe administration of the Pharmacy Act 1964 which provides, inter a/ia,for registration and licensing of pharmaceutical chemists, registration of pharmaciesand the conduct of investigations and disciplinary proceedings relating to the practiceof pharmacy.

COUNCIL MEETINGS

The Council met in eleven ordinary and thirty special meetings during the year. In addition,Councillors were divided into two standing committees for the detailed handling of business. TheLegal and Administrative Committee met eleven times and the Professional DevelopmentCommittee met eleven times.

Councillors' attendances at the various meetings are shown hereunder:

* to 31 March **from 1 April

Page 1

Councillor Ordinary Special Legal & ProfessionalMeetings Meetings Administrative Development

Committee CommitteeBryceA. 11 21 10CarrR.** 7 10 2CliffordR. 10 11 8ColesM.* 2 5 2GarleppM. 9 20 10HarveyJ. 10 30 7 9MuIlenL. 11 21 10 5OzM** 9 14 8

(a)

(b)


Oun HuxnRED Axu SnvnxrEENTHAxxu,q,'L REpoRT

The Pharmaceutical Council of Western Australia is a body corporate constituted bySection 7 of the Pharmacy Act 1964 for the purposes of,

the management of the Pharmaceutical society of western Australia,an unincorporated association established in 1892; andthe administration of the Pharmacy Act 1964 which provides, inter alia,for registration and licensing of pharmaceutical chemists, registration of pharmaciesand the conduct of investigations and disciplinary proceedings relating to the practiceof pharmacy.

The Council met in eleven ordinary and thirty special meetings during the year. In addition,Councillon were divided into two standing committees for the detailed handling of business. Thekgal and Adminishative Committee met eleven times and the Professional DevelopmentCommittee met eleven times.

councillors' attendances at the various meetings are shown hereunder:

Councillor

Bryce A.Carr R. **Clifford R.Coles M. *Garlepp M.HarveyJ.Mullen L.OzM**

OrdinaryMeetings

117l02910119

SpecialMeetings

2 l10l l520302lt4

Legal &Administrative

Committee

ProfessionalDevelopmentCommittee

10282

95

l07l08

* to 3l March **from I April

Page I

IELECTIONS

I

On 31St March the terms of office of Dr. Clifford and Mr Coles expired and an extraordinaryvacancy had been caused by the earlier resignation of Mr Gibson.

The Returning Officer, Mr. C. Manera MPS, conducted an election on 18th March and declaredRachel Carr and Manal Oz elected for full terms and Dr Clifford elected for the balance (to 315t

March 2009) of Mr Gibson's term.

IOFFICERS

I

President:

Deputy President:Honorary Treasurer:Registrar:Legal Advisors:Accountants:Auditors:

I5. PHARMACEUTICAL REGISTER

I

The following movements were recorded in the Pharmaceutical Register of Western Australiaduring the year:

Pharmacists


Z.L. MULLEN, F.P.S. to OctoberJ.L. HARVEY, F.P.S from OctoberM.J. GARLEPP, M.P.S.M.J. GARLEPP, M.P.S.R.J. BRENNANJ.D.FINLAY&CO.FLINDERS CHARTERED ACCOUNTANTSKPMG

Page 2

Number registered at 1 January 2008 2163

AdditionsWe stem Australian applicants 161

Interstate applicants - Mutual Recognition Arrangements 59New Zealand applicants - Trans Tasman Mutual Recognition arrangements 1

Overseas Applicants 7228

ReductionsResignations 58Removals for non-payment 35Deaths 5 98

Number registered at 31 December 2008 2293

On 3l't March the terms of office of Dr. Clifford and Mr Coles expired and an extraordinaryvacancy had been caused by the earlier resignation of Mr Gibson.

The Returning Oflicer, Mr. C. Manera MPS, conducted an election on 18th March and declaredRachel Carr and Manal Oz elected for full terms and Dr Clifford elected for the balance (to 3l'tMarch 2009) of Mr Gibson's term.

President:

Deputy President:Honorary Treasurer:Registrar:I-egalAdvisors:Accountants:Auditors:

ReduOtionsResignationsRemovals for non-paymentDeaths

Number registered at 31 December 2008

Z.L. MULLEN, F.P.S. to OctoberJ.L. HARVEY, F.P.S from OctoberM.J. GARLEPP, M.P.S.M.J. GARLEPP, M.P.S.R.J. BRENNANJ.D. FINLAY & CO.FLINDERS CHARTERED ACCOT]NTANTSKPMG

The following movements were recorded in the Pharmaceutical Register of Western Australiaduring the year:

Pharmacists

Number registered at I January 2008

AdditionsWestern Australian applicants 161lnterstate applicants - Mutual Recognition Arangements 59New Zealand applicants - Trans Tasman Mutual Recognition arrangements 1Overseas Applicants 7

2163

5835)

228

2293

Page 2


The following table shows the makeup of the Register by age and gender:

The following illustrates the changing nature of the Practising Register during the current decade:

1400

1200

1000

800

600

400

200

02000

1525 1536 1610 1680 1734 1818 1937 1994 2128/

2002 2004

L Male I Female

2006 2008

Page 3

Age Under 25 Between Between Between Over 55 Totals Grand25&34 35&44 45& 54 Total

Gender M F M F M F M F M F M F

Proprietor 1 0 35 45 74 43 94 26 101 5 305 119 424

Partner 1 0 30 17 23 15 13 18 6 2 73 52 125

Community 40 88 179 382 57 141 42 85 126 50 444 746 1190Pharmacist

Hospital 2 36 33 121 10 56 11 46 28 18 84 277 361Pharmacist

Other 0 0 0 4 1 3 3 7 6 4 10 18 28

Total 44 124 277 569 165 258 163 182 267 79 916 1212 2128Practising

Non Practising 0 0 2 15 8 22 6 10 69 33 85 80 165

Total 44 124 279 584 173 280 169 192 336 112 1001 1292 2293Registered


The following table shows the makeup of the Register by age and gender:

The following illustrates the changing nature of the Practising Register during the cunent decade:

Age Under 25 Between25 &34

Between35&44

Between45& 54

Over 55 Totals GrandTotal

Gender M F M F M F M F M F M F

Proprietor 1 0 35 45 74 43 94 26 101 5 305 119 424

Partner 1 0 30 17 23 15 13 18 6 2 73 52 125

CommunityPharmacist

40 88 179 382 57 141 42 85 126 50 444 746 1 190

HospitalPharmacist

2 36 33 121 10 56 11 46 28 18 84 277 361

Other 0 0 0 4 1 3 3 7 6 4 10 18 28

TotalPractisinq

44 124 277 569 165 258 163 182 267 79 916 1212 2128

Non Practising 0 0 2 15 8 22 6 10 69 33 85 80 165

TotalReoistered

44 124 279 584 173 280 169 192 336 112 1001 1292 2293

1 400

1200

1 000

800

600

400

200

0

t Male I Female

Page 3


Pharmacies

Council approved 10 applications for registration of new pharmacy premises, 61 for sales and otherchanges to ownership of existing pharmacies, 24 for approval of renovations and extensions, 37 forchanges to trading names and addresses and 19 for relocation of pharmacies. Three pharmacies wereclosed.

I6. PRE-REGIsTRATI0N TRAINING PROGRAMME

I

Two intakes are accepted into the programme each year to accommodate completion dates which varybetween pharmacy schools.

One hundred and thirty-two intern pharmacists entered the programme in the January cohort and a furtherforty-four in the September group, including four whose pharmacy qualifications were gained overseas.Seven candidates carried out their training in rural or remote locations.

Seminars for each cohort were presented over two days on two occasions during the year and fourformalised small-group tutorial sessions, facilitated by qualified pharmacists, were conducted. The lattersessions were designed to provide the opportunity for participation in discussions on topics such as ethicsand communication in the practice setting.

Page 4

Metropolitan Country Total

Registered At Registered At Total at1/01/2008 31/12/2008 1/01/2008 31/12/2008 1/01/2008 31/12/2008

Community387 121 508

New 7 3

Closed 3

391 124 515

Hos.ital6

New

Closed6 6 6

FriendlySociety

New

Closed1 1

Totals 394 4 398 121 3 124 515 522


Pharmacies

Council approved 10 applications for registration of new pharmacy premises, 61 for sales and otherchanges to ownership of existing pharmacies,24 for approval of renovations and extensions, 37 forchanges to hading names and addresses and 19 for relocation of pharmacies. Three pharmacies wereclosed.

Two intakes are accepted into the programme each year to accommodate completion dates which varybetween pharmacy schools.

One hundred and thirty-two intern pharmacists entered the programme in the January cohort and a furtherforty-four in the September goup, including four whose pharmacy qualifications were gained overseas.Seven candidates carried out their fraining in rural or remote locations.

Seminars for each cohort were presented over two days on two occasions during the year and fourformalised small-group tutorial sessions, facilitated by qualified pharmacists, were conducted. The lattersessions were designed to provide the opportunity for participation in discussions on topics such as ethicsand communication in the practice setting.

Metrooolitan Countrv Total

Reoistered At Reqistered At Totalat110112008 31t12t2008 1t01t2008 3111212008 11011200831t12t2008

I -New 7 3

Closed 3

NewClosed

NewClosed

Page 4


To aid assessment of interns' competence to practise the Council required each to produce a portfolio ofevidence gathered from the workplace. Interns were required to complete an online multiple choicequestionnaire aimed at assessment of areas such as legal issues, calculations and compounding. Inaddition, the Australian Pharmacy Competence Assessment Tool (APCAT), a national multiple choicequestion examination, was used to assess candidates' readiness to present for the final viva voceexamination. Further, supervisors were required to submit appraisals three times during the year to assistin monitoring progress towards achievement of the levels required by the Competency Standards forPharmacists in Australia 2003.

The viva voce examination is designed to assess a person's competence for sole practice. Candidatespresent to two panels of practitioner examiners and are required to demonstrate knowledge of the qualityuse of medicines, drug information and pharmacy law and ethics. A total of two hundred and seventy-fourexaminations were conducted during the year from which sixty-three candidates are yet to demonstratecompetence to practise.

I7. INSPECTORIAL VISITS

I

The primary purpose of visits to pharmacies is to safeguard the health and safety of the public throughthe maintenance of proper standards as required by the Pharmacy Act and Regulations.

Aspects of both premises condition and pharmacy practice were examined during the inspection processincluding (but not limited to)

standards of hygiene and cleanlinesscondition of dispensing equipmentcurrency of reference materialrecording of sales of products containing pseudoephedrineadherence to professional practice standards

Council's Pharmacist Field Officer visited in excess of 200 pharmacies throughout the State during theyear.

I8. DISCIPLINARY AND LEGAL ACTION

The State Administrative Tribunal (Conferral of Jurisdiction) Amendment and Repeal Act 2004 ("TheAct") provides that, with some exceptions, disciplinary matters be brought before the State AdministrativeTribunal (SAT) for determination upon allegations made by the Council.

Page 5

Annual Renort & Financial Statements 2008

To aid assessment of interns' competence to practise the Council required each to produce a portfolio ofevidence gathered from the workplace. lnterns were required to complete an online multiple choicequestionnaire aimed at assessment of areas such as legal issues, calculations and compounding. Inaddition, the Australian Pharmacy Competence Assessment Tool (APCAT), a national multiple choicequestion examination, was used to assess candidates' readiness to present for the frnalviva voceexamination. Further, supervisors were required to submit appraisals three times during the year to assistin monitoring progress towards achievement of the levels required by the Competency Standards forPharmacists in Australia 2003.

The viva voce examination is designed to assess a person's competence for sole practice. Candidatespresent to two panels of practitioner examiners and are required to demonstrate knowledge of the qualityuse of medicines, drug information and pharmacy law and ethics. A total of trvo hundred and seventy-fourexaminations were conducted during the year from which sixty-three candidates are yet to demonstratecompetence to practise.

The primarypurpose of visits to pharmacies is to safeguard the health and safety of the public ttroughthe maintenance of proper standards as required by the Pharmacy Act and Regulations.

Aspects of both premises condition and pharmacy practice were examined during the inspection processincluding (but not limited to)

o standards of hygiene and cleanlinesso condition of dispensing equipmento cunency of reference materialr recording of sales of products containing pseudoephedrineo adherence to professional practice standards

Council's Pharmacist Field Offrcer visited in excess of 200 pharmacies throughout the State during theyear.

The State Administrative Tribunal (Conferral of Jurisdiction) Amendment and Repeal Act 2004 ("TheAct") provides that, with some exceptions, disciplinary matters be brought before the State AdministrativeTribunal (SAT) for determination upon allegations made by the Council.

Page 5

The exceptions referred to above are where the Councilis of the opinion that a proceeding before the Tribunal is not warranted by the nature of thematter involved;has afforded to the person concerned the opportunity of giving an explanation to the Councileither in person or in writing and is not satisfied by any explanation offered; andhas afforded to the person concerned the option of the matter proceeding before the Tribunal andthat option has not been taken up.

The Act confers limited powers upon the Council to deal with these matters.

In accordance with Section 16C(la) of the Pharmacy Act 1964 (as amended) it is reported that:

Eleven matters remained current at the end of 2007. Of them, four met the criteria listed in (a), (b) and (c)above and were dealt with by the Council. They are included in Table 1 hereunder. After investigationtwo did not proceed due to insufficient evidence and a further two were unsubstantiated by evidence. Onematter was the subject of an application to the SAT where the Council alleged a pharmacist was carelessin a professional respect in that he supplied, on three occasions, a medication in a strength other than thatordered by the prescriber. The SAT censured the pharmacist and ordered that he be fined $300 and payCouncil's costs of $2,164.46.

No matter remains outstanding before the SAT. Two matters remain under consideration.

Eleven complaints were received during the year.

After investigation five met the criteria listed in (a), (b) and (c) above and were dealt with by the Councilin the manner shown in Table 1 hereunder.

In terms of the Act, the Council was satisfied by the pharmacist's explanation in one case.

Of the remaining matters, three were under investigation at the end of the reporting period, one wasscheduled to be dealt with by the Council in 2009 and another was the subject of a pending application tothe SAT.

Table I - Matters Dealt with by the Council


Page 6

I

U

U

Cause of Action OrderSix cases of carelessness in a professionalrespect - failed to check or adequately checkmedication

One fine of $200Three fines of $250Two fines of $300All ordered to pay Council's costs

One case of carelessness - dispensed wrongmedication with erroneous instructions andprescriber's name

Fined $300 and ordered to pay Council'scosts

One case of impropriety discussedprescription with prescriber contrary to patientinstruction and failed to honour undertakingto deliver medication


One case of misconduct - unauthoriseddisclosure of information about a prescriber

Censured and ordered to pay Council's costs

Annual Renort & Financial Statements 2008

The exceptions referred to above are where the Council(a) is of the opinion that a proceeding before the Tribunal is not warranted by the nature of the

matter involved;(b) has afforded to the person concerned the opportunity of giving an explanation to the Council

either in person or in writing and is not satisfied by any explanation offered; and(c) has afforded to the person concerned the option of the matter proceeding before the Tribunal and

that option has not been taken up.

The Act confers limited powers upon the Council to deal with these matters.

ln accordance with Section 16C(1a) of the Pharmacy Act 1964 (as amended) it is reported that:

Eleven matters remained current at the end of 2007. Of them, four met the criteria listed in (a), (b) and (c)above and were dealt with by the Council. They are included in Table t hereunder. After investigationtwo did not proceed due to insufficient evidence and a further two were unsubstantiated by evidence. Onemaffer was the subject of an application to the SAT where the Council alleged a pharmacist was carelessin a professional respect in that he supplied, on three occasions, a medication in a strength other than thatordered by the prescriber. The SAT censured the pharmacist and ordered that he be fined $300 and payCouncil's costs of $2.164.46.

No matter remains outstanding before the SAT. Two matters remain under consideration.

Eleven complaints were received during the year.

After investigation five met the criteria listed in (a), (b) and (c) above and were dealt with by the Councilin the manner shown in Table t hereunder.

In terms of the Act, the Council was satisfied by the pharmacist's explanation in one case.

Of the remaining matters, three were under investigation at the end of the reporting period, one wasscheduled to be dealt with by the Council in 2009 and another was the subject of a pending application tothe SAT.

Cause of Action OrderSix cases ofcarelessness in a professionalrespect- failed to check or adequately checkmedication

One fine of$200Three fines of$250Two fines of $300All ordered to pav Council's costs

One case of carelessness - dispensed wrongmedication with enoneous instructions andprescriber's name


One case of impropriety- discussedprescription with prescriber contrary to patientinstruction and failed to honour undertakinsto deliver medication


One case of misconduct - unauthoriseddisclosure of information about a prescriber

Censured and ordered to pay Council's costs

Table 1 - Matters Dealt with bv the Council

Page 6

I9. CONTINUING EDUCATION


CONTINUING PROFESSIONAL DEVELOPMENT AND PRACTICE IMPROVEMENT(CPD & PT) AND ANNUAL GOLD QUESTIONNAIRE

The CPD & P1 Working Party held ten meetings during the year to devise questions for the Annual GoldQuestionnaire and consider applications for allocation of points for continuing professional development.415 pharmacists completed and returned this year's questionnaire, of whom 118 completed it online viathe Society's website. The questionnaire was again adopted by the Pharmaceutical Society of Australia forAustralia-wide use. Pharmacists confirm that the questionnaire is a valuable aid to help them review theirknowledge and competency in common areas of professional and clinical practice.

LECTURE SERIES

The Society's 2008 lecture series was generously supported by some of the State's expert clinicians,facilitating a high quality programme to help practitioners stay up-to-date. Digital recording ofpresentations enabled access through the Society's website for practitioners who were unable to attend.

Topics presented in the year's programme were:

GlaucomaTips 'n' Traps for Administering MedicinesHypertensionMay Seminar - Maturing Well: Healthy AgeingTravel MedicineComplexities of Managing Dry Eye -joint optometrist-pharmacist forumIssues at the Continuum of Care - co-presented with Society of Hospital Pharmacists of Australia(WA Branch)Management of Severe AsthmaMRSA and Other BugsDrug-induced Movement DisordersHIV/AIDS - An Update

ANNUAL SEMINAR

Two hundred and twenty five delegates attended the Society's Annual Seminar "Maturing Well: HealthyAgeing."

This fascinating seminar explored ageing and strategies to help patients to age well. Topics coveredincluded "why do we age?", dietary, exercise and medication approaches to enhance health over thelifespan, how to protect against Alzheimer's and other dementias, evidence-based interventions formaintaining cardiovascular health and the role of stem cell technology.

Page 7


CONTINUING PROFESSIONAL DEVELOPMENT AI\D PRACTICE IMPROVEMENT(cPD & Pr) AND ANNUAL GOLD QUESTTONNATRE

The CPD & PI Working Party held ten meetings during the year to devise questions for the Annual GoldQuestionnaire and consider applications for allocation of points for continuing professional development.415 pharmacists completed and returned this year's questionnaire, of whom 118 completed it online viathe Society's website. The questionnaire was again adopted by the Pharmaceutical Society of Australia forAustralia-wide use. Pharmacists confirm that the questionnaire is a valuable aid to help them review theirknowledge and competency in common areas of professional and clinical practice.

LECTURE SERIES

The Society's 2008 lecture series was generously supported by some of the State's expert clinicians,facilitating a high quality progralnme to help practitioners stay up-to-date. Digital recording ofpresentations enabled access through the Society's website for practitioners who were unable to attend.

Topics presented in the yearns progftilnme were:. Glaucoma. Tips 'n' Traps for Administering Medicines. Hypertension. May Seminar - Maturing Well: Healthy Ageing. Travel Medicine. Complexities of Managing Dry Eye - joint optometrist-pharmacist forum. Issues at the Continuum of Care - co-presented with Society of Hospital Pharmacists of Australia

(WA Branch). Management of Severe Asthma. MRSA and Other Bugs. Drug-induced Movement Disorders. HIV/AIDS - An Update

AI\NUAL SEMINAR

Two hundred and twenty five delegates attended the Society's Annual Seminar "Maturing Well: HealthyAgeing."

This fascinating seminar explored ageing and strategies to help patients to age well. Topics coveredincluded'\vhy do we age?", dietary exercise and medication approaches to enhance health over thelifespan, how to protect against Alzheimer's and other dementias, evidence-based interventions formaintaining cardiovascular health and the role of stem cell technology.

Page 7


Society members gained from the clinical experience and expertise of

Professor Greg Peterson, University of TasmaniaDr Delia Hendrie, School of Population Health University of Western AustraliaDr Peter Spitzer, The Humour FoundationProfessor Peter Klinken, Director of the WA Institute for Medical ResearchProfessor Peter Thompson, Heart Research Institute of Western AustraliaDr Peter Panegyres, Neurologist and NeuroscientistDr Andrew Maiorana, Exercise Physiologist Royal Perth Hospital andMrs Janine Wright, Accredited Practising Dietitian, Curtin University of Technology

Sessions were digitally recorded to enable Society members who were unable to attend to access eachpresentation on the Society's webpage.

The seminar was again strongly supported by the pharmaceutical industry and professional bodies whoseexhibitors contributed to the success of the event. Displays were of a very high standard reflecting theconsiderable investment made by exhibitors and included materials and information that augmented theday's learning experience.

SPONSORSHIP

The Society once again received generous support from Symbion Health which enabled it to present thelecture series and annual seminar. The Council is most grateful for the company's ongoing commitmentto the profession.

MEDICATION MANAGEMENT REVIEW TRAINING & SUPPORT

The Society continued its support of pharmacists who wish to develop competence in medicationmanagement review (MMR). It conducted three Stage I courses to enable over forty pharmacists tocommence on the path toward accreditation.

Many have since moved through to the second stage which, when completed, entitles them to conductResidential MMR and Home Medicines Reviews.

SPECIAL INTEREST GROUPS

Pharmacists with interests in specialised areas met a number of times to share knowledge to aid betterservice delivery.

Areas included mental health, opioid pharmacotherapy and palliative care.

The Special Interest Groups presented an opportunity for pharmacists to develop and contribute tospecific areas of practice. They serve as valuable forums to progress the profession's ability to provideextended service and skills to the public.

Page 8


Society members gained from the clinical experience and expertise of

o Professor Greg Peterson, University of Tasmaniao Dr Delia Hendrie, School of Population Health University of Western Australiao Dr Peter Spitzer, The Humour Foundationo Professor Peter Klinken, Director of the WA Institute for Medical Researcho Professor Peter Thompson, Heart Research Institute of Western Australiao Dr Peter Panegyres, Neurologist and Neuroscientistr Dr Andrew Maiorana, Exercise Physiologist Royal Perth Hospital ando Mrs Janine Wright, Accredited Practising Dietitian, Curtin University of Technology

Sessions were digitally recorded to enable Society members who were unable to attend to access eachpresentation on the Society's webpage.

The seminar was again strongly supported by the pharmaceutical industry and professional bodies whoseexhibitors contributed to the success of the event. Displays were of a very high standard reflecting theconsiderable investment made by exhibitors and included materials and information that augmented theday's leaming experience.

SPONSORSHIP

The Society once again received generous support from Symbion Health which enabled it to present thelecture series and annual seminar. The Council is most grateful for the company's ongoing commitmentto the profession.

MEDICATION MANAGEMENT REVIEW TRAINING & SUPPORT

The Society continued its support of pharmacists who wish to develop competence in medicationmanagement review (MMR). It conducted three Stage I courses to enable over forty pharmacists tocommence on the path toward accreditation.

Many have since moved through to the second stage which, when completed, entitles them to conductResidential MMR and Home Medicines Reviews.

SPECIAL INTEREST GROUPS

Pharmacists with interests in specialised areas met a number of times to share knowledge to aid betterservice delivery.

Areas included mental health, opioid pharmacotherapy and palliative care.

The Special Interest Groups presented an opportunity for pharmacists to develop and contribute tospecific areas of practice. They serve as valuable forums to progress the profession's ability to provideextended service and skills to the public.

Page 8


Oiorn PHARMACOTHERAPIES

In partnership with the Department of Health, Next Step Drug and Alcohol Service, the WA SubstanceUsers' Association and pharmacists participating in the Community Program for OpioidPharmacotherapy (CPOP) the Council worked to improve effective provision of methadone andbuprenorphine therapies for the treatment of opiate dependence.

273 pharmacies were approved to participate in CPOP of which 209 were dosing patients at the end ofthe reporting period, a satisfying example of the commitment of pharmacists to this important area ofharm minimisation.

Of 3403 patients authorised to avail themselves of the service 2835 were presenting regularly.

IANNUAL PRIZE AND PRESENTATION NIGHT

One of the most important events on the Society's calendar is its Annual Prize and Presentation Nightheld every year in March.

High achievers in each year of study in the School of Pharmacy at Curtin University of Technology, inpostgraduate studies and in the pre-registration training course were acknowledged before an audience oflife members, Council members, supervising pharmacists and family members.

A highlight of the event was the presentation of the Eric Kirk Memorial Award.

Eric Kirk was an eminent leader who was responsible for significant developments in the profession. Anaward which recognises outstanding contributions to the development of professional practice in WesternAustralia was instituted to commemorate his legacy. It was awarded to Associate Professor JefferyHughes.

New registrants were presented to the Society and the Kevin McAnuff Memorial Address was deliveredby Dr Phillip Passmore, Adjunct Senior Lecturer at the School of Pharmacy at Curtin University ofTechnology.

Generous sponsorship by Pharmaceutical Defence Limited and Australian Pharmaceutical IndustriesLimited enabled the staging of this major event.

Page 9


In parfrrership with the Department of Health, Next Step Drug and Alcohol Service, the WA SubstanceUsers' Association and pharmacists participating in the Community Program for OpioidPharmacotherapy (CPOP) the Council worked to improve effective provision of methadone andbuprenorphine therapies for the treatment of opiate dependence.

273 pharmacies were approved to participate in CPOP of which 209 were dosing patients at the end ofthe reporting period, a satisffing example of the commitment of pharmacists to this important area ofharm minimisation.

Of 3403 patients authorised to avail themselves of the service 2835 were presenting regularly.

One of the most important events on the Society's calendar is its AnnualPize and Presentation Nightheld every year in March.

High achievers in each year of study in the School of Pharmacy at Curtin University of Technology, inpostgaduate studies and in the pre-registration training course were acknowledged before an audience oflife members, Council members, supervising pharmacists and family members.

A highlight of the event was the presentation of the Eric Kirk Memorial Award.

Eric Kirk was an eminent leader who was responsible for significant developments in the profession. Anaward which recognises outstanding contributions to the development of professional practice in WesternAustralia was instituted to commemorate his legacy. It was awarded to Associate Professor JefferyHughes.

New registrants were presented to the Society and the Kevin McAnuff Memorial Address was deliveredby Dr Phillip Passmore, Adjunct Senior L,ecturer at the School of Pharmacy at Curtin University ofTechnology.

Generous sponsorship by Pharmaceutical Defence Limited and Australian Pharmaceutical IndustriesLimited enabled the staging of this major event.

Page 9

12. J. M. O'HARA RESEARCH FUNDI

As part of its duty of managing the Pharmaceutical Society of Western Australia the Council has managed theSociety's J M O'Hara Research Fund since it was established in 1976.

The Fund's objects include the granting of assistance for research in any branch of pharmaceutical sciences or inany aspect of the practice of pharmacy.

Assets currently stand at $225,829.00 and have been accumulated entirely from the donations of Society membersand interest.

Grants totalling $93678 have been provided over the years to Society members to assist with research projects.

Two projects were current at the end of the year.

In the first, Associate Professor Jeff Hughes was granted $6225 to investigate the prevalence of muscle crampsassociated with statins use and their possible management with coenzyme Qio.

The second project was awarded a grant of $8,460 to assist Allison Rieck to develop a programme for a role forthe community pharmacist in collaborative chronic disease management.

The Council is grateful to Gladys Heedes, the Committee's chair, and Carlo Manera, Kristine Jarvis, AssociateProfessor Ken Ilett and Yan Ghee Peng for conducting the Fund's business during the year.

Income and Expenditure Statement


Page 10

Received 2008 2007

Donations 6729 8684Interest 11585 11250

Less Payments

Project Grants 0 8460Courier Charges <39> 99

Net Income (Outgoing) 18275 11375

Funds Statement at 31st December 2008

Assets

Bank West 219100 207554Outstanding Deposit 6729

Liabilities 0

Net Assets 225829 207554


As part of its duty of managing the Pharmaceutical Society of Western Australia the Council has managed theSociety's J M O'Hara Research Fund since it was established in 1976.

The Fund's objects include the granting ofassistance for research in any branch ofpharmaceutical sciences or inany aspect of the practice of pharmacy.

Assets currently stand at 9225,829.00 and have been accumulated entirely from the donations of Society membersand interest.

Grants totalling $93678 have been provided over the years to Society members to assist with research projects.

Two projects were current at the end of the year.

ln the first, Associate Professor Jeff Hughes was granted $6225 to investigate the prevalence of muscle crampsassociated with statins use and their possible management with coenzyme Q1s.

The second project was awarded a grant of $8,460 to assist Allison fueck to develop a programme for a role forthe community pharmacist in collaborative chronic disease management.

The Council is gateful to Gladys Heedes, the Committee's chair, and Carlo Manera, Kristine Jarvis, AssociateProfessor Ken Ilett and Yan Ghee Peng for conducting the Fund's business during the year.

Income and Expenditure Statement

Received

DonationsInterest

Less Payments

Project GrantsCourier Charges

Net Income (Outgoing)

Funds Statement at 31't December 2008

Assets

Bank WestOutstanding Deposit

Liabilities

Net Assets

2008

672911585

0<39>

18275

2007

8684I 1250

rr375

207s54

846099

2191006729

0

225829 207554

Page l0


Antibiotic Interactions: Clinical Significance and Predicting Patients at Risk." The project was granted assistance

ICoMMuNIcATIoN WITH MEMBERS

I

Council continued to publish its regular bulletin, Rescript, to all members of the Society.

The publication brought contributions from the Department of Health, the Schools of Pharmacy at CurtinUniversity of Technology, the University of Western Australia and Murdoch University as well as diseasefoundations and associations.

It also carried articles on counselling, complementary medicines, practice matters, continuing professionaldevelopment and practice improvement, register changes and comment on items of current interest.

The Council's website is maintained as a source of information on matters affecting registration ofpharmacists and pharmacies and the Society's members have access to a section designed to assist themwith professional matters.

AUSTRALIAN PHARMACY COUNCIL

The Council continued its participation in the activities of the Australian Pharmacy Council (APC), themembership of which comprises the pharmacy registering authority in each Australian State and Territorytogether with associate member the Pharmacy Council of New Zealand and affiliate member theCommittee of Heads of Pharmacy Schools of Australia and New Zealand.

APC accredits schools of pharmacy and their courses in universities in both Australia and New Zealandand assesses the qualifications of all applicants for registration in Australia who qualified and weretrained overseas. It also accredits providers of programmes designed to assist practitioners to maintaincompetence to practise.

APC devoted significant resources to making and coordinating submissions to the Australian HealthMinisters' Advisory Council's National Registration and Accreditation Implementation Project. TheProject is charged with implementing a national registration and accreditation scheme which is theproduct of an intergovernmental agreement signed in March by the Council of Australian Governments.

Page 11

I


Antibiotic Interactions: Clinical Significance and Predicting Patients at Risk." The project was granted assistance

Council continued to publish its regular bulletin, Rescript, to all members of the Society.

The publication brought contributions from the Department of Health, the Schools of Pharmacy at CurtinUniversity of Technology, the University of Western Australia and Murdoch University as well as diseasefoundations and associations.

It also carried articles on counselling, complementary medicines, practice matters, continuing professionaldevelopment and practice improvement, register changes and comment on items of current interest.

The Council's website is maintained as a source of information on matters affecting registration ofpharmacists and pharmacies and the Society's members have access to a section designed to assist themwith professional matters.

The Council continued its participation in the activities of the Aushalian Pharmacy Council (APC), themembership of which comprises the pharmacy registering authority in each Australian State and Tenitorytogether with associate member the Pharmacy Council of New Zealand, and affiliate member theCommiffee of Heads of Pharmacv Schools of Australia and New Zealand.

APC accredits schools of pharmacy and their courses in universities in both Australia and New Zealandand assesses the qualifications of all applicants for registration in Australia who qualified and weretrained overseas. It also accredits providers of programmes designed to assist practitioners to maintaincompetence to practise.

APC devoted significant resources to making and coordinating submissions to the Australian HealthMinisters' Advisory Council's National Registration and Accreditation Implementation Project. TheProject is charged with implementing a national registration and accreditation scheme which is theproduct of an intergovernmental agreement signed in March by the Council of Australian Govemments.

Page I I


IREPRESENTATION OF THE PROFESSION

The Council and the profession were represented in meetings with:

Australian Pharmacy CouncilPharmaceutical Society of AustraliaMedicare Australia

Divisions of General PracticeOfficers in various sections of the Department of HealthOfficers of the Therapeutic Goods AdministrationOfficers of the Australian Medical AssociationOfficers of the Police ServiceInjury Control Council of Western AustraliaW.A. Council on the AgeingOffice of Health ReviewOfficers of the State Administrative TribunalPharmaceutical manufacturers and distributorsPharmaceutical Defence LimitedHealth Reform Implementation TaskforceRepresentatives of Disease State OrganisationsOther Health Professions Registration Authorities

ILEGISLATIVE REQUIREMENTS

The Public Sector Management Act 1994 requires compliance with the Public Sector Code of Ethics byCouncillors and Council staff and their adherence to a Code of Conduct consistent with that Code ofEthics.

Council's Code of Conduct, which covers issues such as ethical obligations, conduct, accountability andprivacy, was approved by the Public Sector Standards Commissioner in 2006.

The conduct of Council's business and its administrative procedures complied with public sectorstandards, the Public Sector Code of Ethics and Council's Code of Conduct referred to above. Nocomplaint was received in relation to breaches of standards.

The Western Australian Public Sector Code of Ethics was revised and reprinted in 2007. It wasdistributed to members of the Council and the Council's staff together with the Council's Code ofConduct. The Codes are the subject of discussion at staff meetings and compliance is monitored bypersonal observation.

Page 12


The Council and the profession were represented in meetings with:

Australian Pharmacy CouncilPharmaceutical Societv of AustraliaMedicare Australia

Divisions of General PracticeOfficers in various sections of the Department of HealthOfficers of the Therapeutic Goods AdministrationOfficers of the Australian Medical AssociationOfficers of the Police ServiceInjury Conhol Council of Western AustraliaW.A. Council on the AgeingOffrce of Health ReviewOfficers of the State Administrative TribunalPharmaceutical manufacturers and distributorsPharmaceutical Defence LimitedHealth Reform Implementation TaskforceRepresentatives of Disease State OrganisationsOther Health Professions Registration Authorities

The Public Sector Managernant Act 1994 requires compliance with the Public Sector Code of Ethics byCouncillors and Council staffand their adherence to a Code of Conduct consistent with that Code ofEthics.



The Westem Australian Public Sector Code of Ethics was revised and reprintedin2007. It wasdistributed to members of the Council and the Council's stafftogether with the Council's Code ofConduct. The Codes are the subject of discussion at staffmeetings and compliance is monitored bypersonal observation.

Page 12


15. REPRESENTATION ON OTHER BODIES

The Council was an active participant in deliberations of the

Australian Pharmacy CouncilPharmaceutical Society of AustraliaW.A. Council on the AgeingCommunity Programme for Opioid Pharmacotherapy

[16. REPRESENTATION OF THE PROFESSION ]The profession was represented in meetings with:

Medicare AustraliaDivisions of General PracticeOfficers in various sections of the Department of HealthOfficers of the Therapeutic Goods AdministrationOfficers of the Australian Medical AssociationOfficers of the Police ServiceInjury Control Council of Western AustraliaOffice of Health ReviewOfficers of the State Administrative TribunalPharmaceutical manufacturers and distributorsPharmaceutical Defence LimitedHealth Reform Implementation TaskforceRepresentatives of Disease State OrganisationsOther Health Professions Registration Authorities

17. LEGISLATIVE REQUIREMENTS

The Public Sector Management Act 1994 requires compliance with the Public Sector Code of Ethics byCouncillors and Council staff and their adherence to a Code of Conduct consistent with that Code ofEthics.


Page 13


The Council was an active participant in deliberations of the

Australian Pharmacy CouncilPharmaceutical Society of AustraliaW.A. Council on the AgeingCommunity Programme for Opioid Pharmacotherapy

The profession was represented in meetings with:

Medicare AustraliaDivisions of General PracticeOfficers in various sections of the Department of HealthOffrcers of the Therapeutic Goods AdministrationOfficers of the Australian Medical AssociationOfficers of the Police ServiceInjury Control Council of Western AustaliaOffice of Health ReviewOfficers of the State Administrative TribunalPharmaceutical manufacfurers and distributorsPharmaceutical Defence LimitedHealth Reform Implementation TaskforceRepresentatives of Disease State OrganisationsOther Health Professions Registration Authorities

\\e Public Sector Management Act 1994 requires compliance with the Public Sector Code of Ethics byCouncillors and Council staffand their adherence to a Code of Conduct consistent with that Code ofEthics.


Page 13



The Western Australian Public Sector Code of Ethics was revised and reprinted in May 2007. It wasdistributed to members of the Council and the Council's staff in June together with the Council's Codeof Conduct. The Codes are the subject of discussion at staff meetings and compliance is monitored bypersonal observation.

As a public agency which is required to publish an annual report the Council is required by the ElectoralAct 1907 to disclose details of expenditure to certain organisations if that expenditure equalled orexceeded $1,600 within thirty days after the polling day in a general election.

No such expenditure was incurred.

Section 16C(la)(c)(d) and (e) of the Pharmacy Act 1964 require the Council to include details of anytrends or special problems that may have emerged; to forecast its workload in the year following theperiod covered by this report; and to make proposals for improving the operation of the Council.

Accordingly, it is reported that the Council did not observe any emerging trends during the year and hasno proposal for improving the operation of the Council. It does not foresee any substantial variation in itsworkload during 2008 unless proposed new legislation results in its replacement by the PharmacistsRegistration Board of Western Australia.

The State Records Act 2000 places obligations on the Council aimed at preserving state records. Inaccordance with the Act it is reported that an induction programme, including recordkeepingresponsibilities for new staff has been developed and implemented; performance indicators forrecordkeeping have been developed and implemented; and Council's staff have complied with the Actthrough adherence to Council's retention and disposal schedule approved by the State Records Office in2006.

Page 14


The conduct of Council's business and its administrative procedures complied with public sectorstandards, the Public Sector Code of Ethics and Council's Code of Conduct refened to above. Nocomplaint was received in relation to breaches of standards.

The Western Australian Public Sector Code of Ethics was revised and reprinted in May 2007. It wasdistributed to members of the Council and the Council's staffin June together with the Council's Codeof Conduct. The Codes are the subject of discussion at staffmeetings and compliance is monitored bypersonal observation.

As a public agency which is required to publish an annual report the Council is required by the ElectoralAct 1907 to disclose details of expenditure to certain organisations if that expenditure equalled orexceeded $1,600 within thirty days after the polling day in a general election.

No such expenditure was incurred.

Section 16C(la)(c)(d) and (e) of the Pharmacy Act 1964 require the Council to include details of anytrends or special problems that may have emerged; to forecast its workload in the year following theperiod covered by this report; and to make proposals for improving the operation of the Council.

Accordingly, it is reported that the Council did not observe any emerging trends during the year and hasno proposal for improving the operation of the Council. It does not foresee any substantial variation in itsworkload during 2008 unless proposed new legislation results in its replacement by the PharmacistsRegistration Board of Western Australia.

The State Records Act 2000 places obligations on the Council aimed at preserving state records. Inaccordance with the Act it is reported that an induction programme, including recordkeepingresponsibilities for new staff has been developed and implemented; performance indicators forrecordkeeping have been developed and implemented; and Council's staff have complied with the Actthrough adherence to Council's retention and disposal schedule approved by the State Records Office in2006.

Page 14

The Pharmaceutical Council ofWestern Australia

Special PurposeFinancial Report

Year ended31 December2008

The Phermaceutical Council ofWestern Australia

SPecial PurPoseFinancial Re'Port

Year ended31 December 2008

The Pharmaceutical Council of Western Australia

Contents

Income Statement I

Balance sheet 3

Notes to the financial statements 4

Statement by council 15

Independent audit report 16


Contents

Income Statement

Balance sheet

Notes to the financial statements

Statemelrt by council

Independent audit report

I

3

4

l5

16


Income Statement

For the year ended 31 December 2008

The profit and loss account is to be read in conjunction with the notes to and forming part of thefinancial statements set out on pages 4 to 14.

2008 2007$

RevenueCourse fees - APEC 9,515 7,160Income from fines & costs 7,827 4,493Interest received 19,713 9,470Licences 445,000 408,858Registration of premises 246,196 226,370Registration 21,800 12,937Publications for sale 1,409 2,068Sundry income 727 5

Trainees 236,945 239,365

Total income989.132 910.726


Income Statement

For the year ended 3l December 2008

RevenueCourse fees - APECIncome fromfines & costsInterest receivedLiceircesRegistration of premisesRegistrationhrblications for saleSundryincomeTrainees

Totalincome

2007$

9,515 7,1607,827 4,493

L9,713 9,470445,000 408,858246J96 226,370. 21,800 12,937

I,409 2,068727 5

236,945 239.365

98q-82 qr0-726

The profit end loss account is to b€ read in conjunction with the notes to and forming part of thefinancial state,meirts set out on pages 4 to 14.


Income Statement


The profit and loss account is to be read in conjunction with the notes to and forming part of thefinancial statements set out on pages 4 to 14.

2

ExpenditureAdvertisingAudit & accountancy feesBank and credit card chargesBookkeeping feesComputer software and consultingContract WorkDepreciationElectricity

Employee entitlementsFringe benefits taxFunction expensesInsuranceInterest paidLegal costsLocum feesMotor vehicle expensesOffice expensesPostage, taxis and messengersPrinting & stationeryPublicationsRepresentation costsSalariesSubscriptionsSuperannuation contributionsTelephoneTraineesTravelling expensesTotal expenditureOperating (loss)Ipro fit before related income tax expenseIncome tax expense relating to ordinary activities

(Loss)/profit after tax5

2008$

-

23,07711,06419,255

7,3993,8556,771

3,668

402,1624,881

4,8304,975

73

8,55433,0205,598

2,0679,919

26,573

5,314

12,657320,042

12,170102,367

7,436188,261

10,220

2007$

37938,5027,690

27,1942,137

3,095

3,77224,806(1,127)3,9783,103

27,21125,478

5,2082,193

10,09224,9084,8292,442

277,80212,401

80,6767,488

93,8674,777

1,236,208 692,901

(247,076) 217,825

(247,076) 217,825


Income Statement


ExpenditureAdvertisingAudit & accountancy feesBank and credit card chargesBoolJceeping feesComputer software and consultingContract WorkDepreciationElectricityEmployee entitlementsFringe benefits taxFunction expensesInsuranceInterest paidLegal costsLocum feesMotor vehicle expensesOffice expensesPostage, taxis and messengersPrinting & stationeryPublicationsRepresentation costsSalariesSubscriptionsSuperannuation contributionsTelephoneTraineesTravelling expensesTotal expenditurcOperrting 0ossVprofit before related income tax expenseIncome tax expense relating to ordinary activities(Loss)/profit after tax

1.236.208 692.90r(247,076) 217,825

Q47.076\ 2r7.825

2007$

2008$

23,07711,06419,2557,3993,8556,7713,668

402,1624,9914,9304,975

738,554

33,0205,5982,0679,9r9

26,5735,314

12,657320,04212,r70

102,3677,436

188,261r0,220

37938,5027,690

27,1942,137

3,0953,772

24,806(1,r27)3,9783,103

27,21125,4785,2082,193

- 10,09224,9084,8292,442

277,802t2,40r90,6767,488

93,8674,777

The profit and loss account is to be read in con$unction with the notes to and forming part of thefinancial statem€nts set out on pages 4 to 14.

The Pharmaceutical Council of Western AustraliaBalance sheet

As at 31 December 2008

The balance sheet is to be read in conjunction with the notes to and forming part of the financialstatements set out on pages 4 to 14.

3

Note 2008$

2007$

Current assetsCash assets

6 409,865 218,074Receivables7 11,392 32,214Other8 9,218 6,816Total current assets

430,475 257,104

Non Current AssetsProperty Plant and Equipment 9 10,909 12,802Total non current assets

10,909 12,802

Total assets441,384 269,906

Current liabilitiesPayables

10 128,907 104,834Provisions11 147,679 131,428Other12 4,900 8,450Total current liabilities

281,486 244,712

Non Current liabilitiesProvisions

11 381,780Total non current liabilities381,780

Total liabilities658,934 244,712

Net (liabilities)/assets(217,550) 25,194

Available fundsAccumulated funds/(deficit)

13 (217,550) 25,194Total Equity/(net deficiency)(217,550) 25,194

The Pharmaceuticar council of western AustrariaBalance sheet

As at 31 December 200g

Note

Current aesetsCash assetsReceivablesOtherTotel current assets

Non CurrentAssetsProperty Plant and EquipmentTotel non current tssets

Totel assetc

Current liabiftiesPayablesProvisionsOtherTotal cunent liebilities

Non CureniliebilitiesProvisionsTotrl non cunent liebifities

Total liabilities

Net Qiebilitiec/asse$

Avelleble frndsAccumulated fundV(deficit)Totet Equity(net defi ciency)

. 2,4q 6,816qlo,qls zslJoq

!.0,9!9 12,802l0,g0g l2,go2

ul,3g4 269,906

2007$

2008$

678

409,965ll,3g2

2t9,07432,214

t0l lt2

l2g,g07147,679

t04,934t3l,42g

1 l

l 3

28t,486 244Jt2

659,934 244,712Qt7,550) 25.1%

(217-5501 t<iot-

QrT,sso) 2s.rt4

The balance sheet is to be read in coqiunction with the notes to and forming part of the financialstatem€nts set out onpages 4to 14.


Notes to and forming part of the financial statements


1 Statement of significant accounting policies

The significant policies which have been adopted in the preparation of this financial report are:

(a) Basis of preparation

In the opinion of the Council's management, the Council is not a reporting entity. Thefinancial report of the Council has been drawn up as a special purpose financial report forthe purpose of fulfilling the requirements of the Pharmacy Act 1964, the Rules of theSociety, and for distribution to the members of the Society.

Reporting Basis

The financial report has been prepared on an accruals basis and is based on historicalcosts and except where specifically stated, non-current assets are recorded at the lower ofcost and recoverable amount.

During the financial year, the Council was informed that it would be disbanded on 1 July2010 after the Federal and State governments signalled an intention, formalised by anIntergovernmental Agreement, to introduce uniform pharmacy legislation acrossAustralia, implementing a National Registration and Accreditation Scheme.

As discussed in Note 11, the Council has recognised an obligation to pay cessationpayments to employees on 1 July 2010, when the Council ceased to exist. This hasresulted in the Council in a net asset deficiency of $217,550 as at 31 December 2008. ThePharmaceutical Council of Western Australia as trustee for the members of thePharmaceutical Society of Western Australia has agreed to provide financial support tothe Council to meet its financial obligations as and when they fall due.

The extent of such financial support likely to be required will only be detennined at 1July 2010, the date of cessation of the Council.

The Council has the prepared financial statements in accordance with AustralianAccounting Standards (AASB' s) adopted by the Australian Accounting Standards Board(AASB) as selected and modified for use by non reporting entities in the Institute ofChartered Accountants in Australia's Business Practice Guide for Non-ReportingEntities. Unless otherwise stated, the accounting policies adopted are consistent withthose of the prior year.

4




1 Statement of significant accounting policies

The significant policies which have beeir adopted in the preparation of this financial report are:

(a) Basis of preparation

ln the opinion of the Council's management, the Council is not a reporting entity. Thefinancial report ofthe Council has been drawn up as a special purpose financial report forthe purpose of fulfilling the requirements of the Pharmacy Act 1964, the Rules of theSociety, and for dishibution to the members of the Sociay.

Reporting Basis

The financial report has bee,n prepared on an accruals basis and is based on historicalcosts and except where specifically stated, non-current assets are recorded at the lower ofcost and recoverable amount.

During the financial year, the Council was informed that it would be disbanded on I July2010 after the Federal and State govemments signalled an intention, formalised by anlntergovernmental Agreement, to introduce uniform pharmacy legislation acrossAustralia, implementing a National Registration and Accreditation Scheme.

As discussed in Note 11, the Council has recognised an obligation to pay cessationpayments to employees on I July 2010, when the Council ceased to exist. This hasresulted in the Council in a net asset deficiency of $217,550 as at 31 December 2008. ThePharmaceutical Council of Western Australia as trustee for the members of thePharmaceutical Society of Western Australia has agreed to provide financial support tothe Council to meet its financid obligations as and when they fall due.

The extent of such financial support likely to be required will only be deterrrined at IJuly 2010, the date of cessation of the Council.

The Council has the prepared financial statements in accordance with AustralianAccounting Standards (Au{SB's) adopted by the Australian Accounting Standards Board(AASB) as selected and modified for use by non reporting entities in the Institute ofChartered Accountants in Australia's Business Practice Guide for Non-ReportingEntities. Unless otherwise stated, the accounting policies adopted are consistent withthose ofthe prior year.




1 Statement of significant accounting policies (continued)

The financial report has been prepared in accordance with the requirements of thePharmacy Act 1964 and the Rules of the Society. The recognition and measurementaspects of all applicable Australian Accounting Standards and other authoritativepronouncements of the Australian Accounting Standards Board that have a materialeffect have also been applied despite them not having mandatory applicability to theCouncil. However the financial report doesn't include the disclosure requirements of thefollowing pronouncements having a material effect:

5

AASB 7 Financial Instruments: DisclosuresAASB 101 Presentation of Financial StatementsAASB 107 Cash Flows StatementsAASB 112 Income TaxesAASB 116 Property, Plant & EquipmentAASB 119 Employee BenefitsAASB 124 Related Party DisclosureAASB 137 Financial Instruments: Disclosure

Revenue recognition

Revenues are recognised at fair value of the consideration received net of returns andallowances.

Revenue from all sources is generally recognised upon delivery of the service or goods oras consideration is received.

Interest revenue

Interest revenue is recognised as it accrues, using the effective interest method.

Goods and services tax

Revenues, expenses and assets are recognised net of the amount of goods and services tax(GST), except where the amount of GST incurred is not recoverable from the AustralianTaxation Office (ATO). In these circumstances, the GST is recognised as part of the costof acquisition of the asset or as part of an item of the expense.

Receivables and payables are stated with the amount of GST included.

The net amount of GST recoverable from, or payable to, the ATO is included as a currentasset or liability in the balance sheet.

Taxation

The income of the Council derived from its statutory function is exempt from income taxunder Section 50-25 of the Income Tax Assessment Act 1997 due to its status as a publicauthority constituted under an Australian law.




I Statement of significant accounting policies (continued)

The financial report has been prepared in accordance with the requirements of thePharmacy Act 1964 and the Rules of the Society. The recognition and measurementaspects of all applicable Australian Accounting Standaxds and other authoritativepronouncements of the Australian Accounting Standards Board that have a materialeffect have also been applied despite them not having mandatory applicability to theCouncil. However the financial report doesn't include the disclosure requirements ofthefollowing pronounceme,nts having a material effect:

e AASB 7 Financial Instnrments: Disclosureso AASB 101 Prese,ntation of Financial Stateme,ntso AASB 107 Cash Flows Statements. Ar{SB 112 Income Taxeso AASB 116 Property, Plant & Equipmento AASB 119 Employee Benefitso AASB 124 Related Party Disclosureo AASB 137 Financial Instrume,nts: Disclosure

(b) Revenuerecognition

Revenues are recognised at fair value ofthe consideration received net ofreturns andallowances.

Reveirue from all sources is generally recognised upon delivery of the r"*ir" * goods oras consideration is received.

Interest reyenue

Interest revenue is recognised as it accrues, using the effective interest method.

(c) Goods and services tax

Reve,nues, expeffies and assets are recognised net of the amount of goods and services tax(GST), except where the amount of GST inctrned is not recoverable from the AustralianTaxation Office (ATO). In these circumstances, the GST is recognised as part of the costof acquisition of the asset or as part of an item of the expense.

Receivables and payables are stated with the amount of GST included.

The net amount of GST recoverable fron1 or payable to, the ATO is included as a curr€tilasset or liability in the balance sheet.

(d) Taration

The income of the Council derived from its statutory firnction is exempt from income taxunder Section 50-25 of the Income Tax Assessme,nt Act 1997 due to its status as a publicauthority constituted under an Australian law.

6




1 Statement of significant accounting policies (continued)

(e) Cash assets - Note 6

Cash assets are carried at face value of the amounts deposited or drawn. The carrying

amounts of cash assets approximate net fair value.

(1) Receivables - Note 7

The collectibility of debts is assessed at year-end and specific provision is made for any

doubtful accounts.

The carrying amount of receivables approximates net fair value.

Payables - Note 10

Liabilities are recognised for amounts to be paid in the future for goods or services

received. Trade accounts payable are normally settled within 30 days. The carrying

amount of accounts payable approximates net fair value.

Employee benefits - Note 11

The provisions for employee entitlements to aimual leave and long service leave represent

present obligations, including on-costs, resulting from employees' services provided up to

the balance date, measured at the unpaid amount at balance date at current pay rates.




I Statement of signilicant accounting policies (continued)

(e) Cash assets - Note 6

Cash assets are ca:ried at face value of the amounts deposited or drawn. The carrying

amorurts of cash assets approximate net fair value'

(f) Receivables -Note 7

The collectibility of debts is assessed at year-end and specific provision is made for any

doubtful accounts.

The carrying amount of receivables approximates net fair value.

(g) PaYables -Note 10

Liabilities are recognised for anounts to be paid in the futtre for goods or services

received. Trade accounts payable are normally settledwithin 30 days. The carrying

amount of accounts payable approximates net fair value'

(h) EmPloYee benefits -Note I I

The provisions for employee entitlements to annual leave and long senrice lea\e represe'lrt

present obligations, i*f"Ai"g on-costs, resulting from einployees' sendces provided up to

the balance date, measued at the unpaid aurount at balance date at current pay rates'




2 Operating structure and developments

The Pharmaceutical Council of Western Australia is a body corporate constituted by Section 7of the Pharmacy Act 1964 for the purposes of:

the management of the Pharmaceutical Society of Western Australia which has its ownobjects as set out in its Rules as initially adopted on 10 May 1895 (the Societyfunction); and

the administration of the Pharmacy Act 1964 relating to registration and licensing ofpharmaceutical chemists and pharmacies, and disciplinary matters relating to thepractice of pharmaceutical chemists (the Statutory function).

The Council also has a discretionary role in education and research. All other activities andfunctions of the Council may properly be categorised as being carried out by the Council as themanager and on behalf of the Society.

The Pharmaceutical Society of Western Australia was established as an unincorporatedassociation in Western Australia on 24 October 1892.

The objects of the Society are stated in its Rules and are much wider than the functions of theCouncil. They include the general protection of the character, status and interests ofpharmaceutical chemists, the promotion of improvements in laws affecting pharmaceuticalchemists, advancement of the study of pharmacy, and assistance to necessitous andincapacitated members and former members.

The Council, as a body corporate, is capable of acquiring, holding and disposing of real andpersonal property. On the other hand the Society, as an unincorporated association has noindependent existence as a legal entity capable of holding property in its own right.

The Pharmacy Act 1964 provides that every person who is registered as a pharmaceuticalchemist under the provisions of the Pharmacy Act 1964 shall be a member of the Society. TheRules of the Society provide that every pharmaceutical chemist shall be a member of theSociety. As a consequence the membership of the profession of pharmaceutical chemists,which is subject to regulation by the Council under the Pharmacy Act 1964, is co-existent withthe membership of the Society.

The Statutory function and the Society function of the Council have, up until 1 July 2004, beenmixed. Since the establishment of the Society the financial records of the Council have notdistinguished the sources and application of capital and income between these two functionswith the exception of certain special purpose funds relating to particular activities of the Councilas manager of the Society. However as a result of a declaration of trust (refer note 4) with effectfrom 1 July 2004 the fmancial transactions of the Statutory function and the Society functionhave been separately recorded.

7




2 Operating structure and developments

The Pharmaceutical Council of Westem Australia is a body corporate constituted by Section 7of the Pharrracy Act 1964 for the ptuposes of:

(a) the management of the Pharmaceutical Society of Westem Australia which has its ownobjects as set out in its Rules as initially adopted on l0 May 1895 (the Societyfunction); and

(b) the administration of the Pharmacy Act 1964 relating to registration and licensing ofpharrnaceutical chemists and phannacies, and disciplinary matters relating to thepractice of pharmaceutical chemists (the Statutory function).

The Council also has a discretionary role in education and research. All other activities andfunctions of the Council may properly be categorised as being carried out by the Council as themeneger and onbehalf ofthe Society.

The Pharmaceutical Society of Western Aushalia was established as an unincorporatedassociation in Western Aushalia on 24 October 1892.

The objects of the Society are stated in its Rules and are much wider than the ftrnctions of theCouncil. They include the general protection of the character, status and interests ofphanraceutical chemists, the promotion of improvements in laws affecting pharmaceuticalchemists, advancement of the study of phamracy, and assistance to necessitous andincapacitated members and former members.

The Council, as a body corporate, is capable of acquiring holding and disposing of real andpersonal property. On the other hand the Society, as an unincorporated association has noinde,pendent existe,nce as a legal entrty capable of holding property in its own right.

The Pharmacy Act 1964 provides that every pennn who is registered as a phannaceuticalchemist under the provisions of the Pharmacy Act 1,964 shall be a member of the Society. TheRules of the Society provide that every pharmaceutical chemist shall be a member of theSociety. As a consequence the membership of the profession of pharmaceutical chemists,which is subject to regulation by the Council under the Pharmacy Act 1964, is co-existeirt withthe membership of the Society.

The Statutory function and the Society function of the Council have, up until 1 July 2004, beenmixd. Since the establistrment of the Society the financial records of the Council have notdistinguishdthe sources and application of capital and income betweenthese two finctionswith the exception of certain special purpose funds relating to particular activities of the Councilas managetr of the Society. However as a result of a declaration oftnrst (refer note 4) with effectfrom I July 2004 the financial transactions of the Statutory fimction and the Society functionhave beeir separately recorded.




2 Operating structure and developments (continued)

As a consequence the funds arising from or applied to the Society function and the funds arisingfrom or applied to the Statutory function have been intermingled at all material times prior to 1July 2004 and until that date there was no requirement for the Council to segregate these funds.

The Council is empowered by Section 16 of the Pharmacy Act 1964 to use the funds vested in itfor the purposes of the Act being both the Statutory function and the Society function.

Section 16 of the Pharmacy Act 1964 provides that the funds of the Council shall consist, interalia, of money or property that comes into the hands of the Council for the purposes of thePharmacy Act 1964. In line with this, the funds of the Council have been acquired, inter alia,by:

registration and licence fees paid in respect of the registration and licensing ofpharmaceutical chemists by the Council pursuant to the Pharmacy Act 1964;

donations from members of the Society to the funds of the Society but subject to anytrusts declared in relation thereto;

subscriptions and special levies received from the members of the Society in theircapacity as members;

accretions to funds from investments and from the sale of capital assets.

Given the above, it must be noted that all real and personal property acquired for the purposes ofthe Council has been held in the name of the Council, including real and personal propertywhich has been acquired for the purposes of the Society or acquired by application of fundsprovided by members of the Society or arising from activities of the Society. On this basis theassets included in these financial statements are available for use by the Council in both itsStatutory function and its Society function.

Tn 2002, the Council carried out extensive investigations of its books arid records and obtainedindependent accounting and legal advice. As part of these investigations a former Registrar ofthe Council carried out a detailed analysis of the source and application of funds held by theCouncil between 1936 and 2002 and allocated these funds to either the Statutory function or theSociety function.

This analysis established that on an accumulated basis and in a majority of financial years thefunds derived from the Society function were applied to meet a deficiency in funds required forthe Statutory function with the consequence that the Society function subsidised the Statutoryfunction.

Further it established that the accumulated funds held by the Council as at 31 December 2002represented a cumulative deficit arising from the Statutory function and a cumulative surplusarising from the Society function. As a consequence of this, the Council determined that the netassets of the Council as at 31 December 2002 represent assets that have been derived from theSociety function and are properly represented in the financial statements of the Council asMembers' funds.

8




Operating structure and developments (continued)

As a consequence the funds arising from or applied to the Society function and the funds arisingfrom or applied to the Statutory function have been intermingled at all material times prior to IJuly 2004 and until that date there was no requirement for the Council to segregate these funds.

The Council is empowered by Section l6 of the Pharmacy Act 1964 to use the funds vested in itfor the purposes of the Act being both the Statutory function and the Society function.

Section 16 of the Pharmacy Act l964provides that the funds of the Council shall consist, interalia, of money or property that comes into the hands of the Cowrcil for the purposes of thePharmacy Act 1964. In line with this, the funds of the Council have been acquired, inter alia,by:

(a) registration and licence fees paid in respect ofthe registration and licensing ofphamraceutical chemists by the Council pursuant to the Pharmacy Act 1964;

(b) donations from members of the Society to the funds of the Society but subject to anytrusts declared in relation thereto;

(c) subscriptions and special levies received from the members of the Society in theircapacity as members;

(d) accretions to funds from investments and from the sale of capital assets.

Given the above, it must be noted that all real and personal property acquired for the purposes ofthe Council has been held in the narne of the Council, including real and personal propertywhich has been acquired for the purposes of the Society or acquired by application of fundsprovided by members of the Society or arising from activities of the Society. On this basis theassets included in these financial statements are available for use bv the Council in both itsStatutory function and its Society function.

Ln2002, the Council carried out extensive investigations of its books and records and obtainedindependent accounting and legal advice. As part of these investigations a former Registrar ofthe Council carried out a detailed analysis of the source and application of funds held by theCouncil between 1936 and 2002 and allocated these funds to either the Statutory function or theSociety function.

This analysis established that on an accumulated basis and in a majority of financial years thefunds derived fromthe Society function were applied to meet a deficiency in funds required forthe Statutory function with the consequence that the Society function subsidised the Statutoryfunction.

Further it established that the accumulated funds held by the Council as at 31 December 2002represented a cumulative deficit arising from the Statutory function and a cumulative surplusarising from the Society function. As a consequence of this, the Council determined that the netassets of the Council as at 31 December 2002 represent assets that have been derived from theSociety function and are properly represented in the financial statements of the Council asMembers'funds.




2 Operating structure and developments (continued)

Given the above and based on legal advice received, that the Council holds various assets ontrust for the members from time to time of the Society, the Council considered that, inaccordance with the functions, powers and authority of the Council under the Pharmacy Act1964 and the obligations of the Council as manager of the Society, it was appropriate to ensurethat the beneficial ownership of these various assets should be in the members of the Societyfrom time to time.

As a result the Council entered into a Deed of Trust on 17 July 2003 in order to formalise andexplicate the capacity in which it holds these various assets as trustee for and on behalf of themembers of the Society from time to time.

The effect of the Deed of Trust was that the Council declared that with effect from 17 July 2003it holds the land and buildings situated at 21 Hamilton Street, Subiaco on trust for the membersof the Society from time to time in their capacity as members with the intent and to the effectthat the land and buildings shall be held and applied by the Council in accordance with theobjects of the Society from time to time. Refer to Note 4 as to the effect of this Deed of Truston the financial statements of the Council.

The Deed of Trust provides that the Council, as trustee, may from time to time add to and holdas part of this trust fund any real or personal property in any form including money which is,inter alia, held or acquired by the Council (whether held or acquired before or after 17 July2003) in any other maimer and is declared by the Council to form part of the trust fund. On 3August 2004 the Council made a declaration pursuant to the Deed of Trust executedon 17 July2003 whereby it added net assets totalling $940,267 to the trust with effect from 1 July 2004.As at the date of this report the Council has not made any further declarations to add to the trustfund. For details of the trust fund as at 31 December 2005 refer to Note 4.

The Pharmaceutical Council of Western Australia as trustee for the members of thePharmaceutical Society of Western Australia has agreed to provide financial support to ThePharmaceutical Council of Western Australia to meet its financial obligations as and when theyfall due.

Notwithstanding the declarations of trust, the Deed of Trust has reserved the power of theCouncil under Section 16 of the Pharmacy Act 1964 to use the funds vested in it for thepurposes of the Act including the Statutory function

3 Segment reporting

The Society function ceased to operate in the Council on 30 June 2004 so no separatelyidentifiable business segments operated in the year ended 31 December 2005 or since.Accordingly no segment reporting is necessary this year.

9




Operating structure and developments (continued)

Given the above and based on legal advice received, that the Council holds various assets ontrust for the menrbers from time to time of the Society, the Council considered that, inaccordance with the functions, powers and authority of the Council under the Pharmacy Act1964 and the obligations of the Council as manager of the Society, it was appropriate to ensurethat the beneficial ownership of these various assets should be in the members of the Societyfrom time to time.

As a result the Council entered into a Deed of Trust on l7 July 2003 in order to formalise andexplicate the capacity in which it holds these various assets as tnrstee for and on behalf of themembers of the Society from time to time.

The effect of the Deed of Trust was that the Council declared that with effect from 17 July 2003it holds the land and buildings situated at 21 Hamilton Street, Subiaco on tnrst for the membersof the Society from time to time in their capacity as members with the intent and to the effectthat the land and 6uildings shall be held and applied by the Council in accordance with theobjects of the Society from time to time. Refer to Note 4 as ts the effect of this Deed of Truston the financial statements of the Council.

The Deed of Trust provides that the Council, as trustee, may from time to time add to and holdas part of this hust fimd any real or personal property in any form including money which is,inter alia, held or acquired by the Council (whether held or acquired before or after 17 July2003) in any other manner and is declared by the Council to form part of the tnrst fimd. On 3August 2004 the Council made a declaration pursuant to the Deed of Trust executefon l7 July2003 whereby it added net assets totalling $940,267 to the tnrst with effect from I July 2004.As at the date ofthis report the Council has not made any firther declarations to add.to the trustfirnd. For details of the tnrst fund as at 3l December 2005 refer to Note 4.

The Pharmaceutical Council of Western Australia as trustee for the merrbers of thePharmaceutical Society of Westem Australia has agreed to provide financial support to ThePharmaceutical Council of Western Australia to meet its financial obligations as and when theyfall due.

Notwithstanding the declarations of trust, the Deed of Trust has reserved the power of theCouncil under Section 16 of the Pharmacy Act 1964 to use the firnds vested in it for thepurposes of the Act including the Statutory firnction

Segment reporting

The Society function ceased to operate in the Council on 30 June 2004 so no separatelyidentifiable business segments operated in the year ended 3l Decerrber 2005 or since.Accordingly no segment reporting is necessary this year.




4 Trustee

Pursuant to a Deed of Trust executed by the Council on 17 July 2003, the Council wasappointed trustee of a trust fund which is held and applied by the Council in accordance with theobjects of the Society and enjoyed and used for the benefit of the Members of the Society.

The Deed of Trust provides that the trustee may from time to time add to and hold as part of thetrust fund any real or personal property in any form including money which is held or isacquired by the Council (whether held or acquired before or after 17 July 2003) in any othermanner and is declared by the Council to form part of the trust fund.

As at 31 December 2003 the trust fund comprised only the land and buildings situated at 21Hamilton Street, Subiaco and the income, expenses and balance date adjustments relating to thisasset since 17 July 2003.

On 3 August 2004 the Council made a declaration pursuant to the Deed of Trust executed on 17July 2003 whereby it added the following net assets to the trust with effect from 1 July 2004.

Whilst the Council has the power to make further declarations to add to the trust fund, no suchdeclaration has been made between year end and the date of this report.

It must be noted that the Council has specific duties under the Pharmacy Act 1964 which do notrelate to its management of the Society. The creation of the trust, and the transfer of assets tothe trust fund do not limit the capacity of the Council to fulfil these statutory duties. TheCouncil as trustee must be empowered to apply funds of the trust, if necessary, to enable theCouncil to fulfil its statutory duties.

10

$Cash assets 899,242Receivables 5,597Inventories 2,859Property, plant and equipment 124,276Payables (33,243)Reserves (58,464)

940,267




4 Trustee

Pursuant to a Deed of Trust executed by the Council on l7 July 2003, the Council wasappointed tnrstee of a trust fund which is held and applied by the Council in accordance with theobjects of the Society and enjoyed and used for the benefit of the Mernbers of the Society.

The Deed of Trust provides that the trustee may from time to time add to and hold as part of thetrust fund any real or personal property in any form including money which is held or isacquired by the Council (whether held or acquired before or after 17 July 2003) in any otherrnailrer and is declared by the Council to form part of the trust fund.

As at 31 Decernber 2003 the tnrst fund comprised only the land and buildings situated at 2lHamilton Street, Subiaco and the income, expenses and balance date adjustments relating to thisasset since l7 July 2003.

On 3 August2004 the Corurcil made a declaration pumuant to the Deed of Trust executed on 17July 2003 whereby it added the following net assets to the trust with effect from 1 July 2004.

Cash assetsReceivablesInventories

PayablesResenres

Property, plant and equipment 124,276

$899,242

5,5972,859

(33,243)(58,464)

940,267

Whilst the Council has the power to make further declarations to add to the tn"rst fund, no suchdeclaration has been made between year end and the date of this report.

It must be noted that the Council has specific dr*ies under the Pharmacy Act 1964 which do notrelate to its management of the Society. The creation of the tnrst, and the transfer of assets tothe trust fund do not limit the capacity of the Council to fulfil these statutory duties. TheCouncil as tnrstee must be empowered to apply funds of the trust, if necessary, to enable theCouncil to fulfil its statutory duties.

l 0




4 Trustee (continued)

Details of the assets and liabilities of the trust held for the Members of the PharmaceuticalSociety of Western Australia as at 31 December 2008 are as follows:

As trustee, the Council is liable for the debts of this trust fund. However except for any debt,liability or other obligation incurred in relation to any fraud, wilful default, negligence or breachof trust by the trustee, the Deed of Trust provides that the trustee is entitled to be indemnifiedout of the trust fund in respect of any reasonable debt or other obligation incurred b the trusteeas trustee of the trust fund.

2008 2007$ $

5 Income tax

Prima facie income tax expense/(benefit) calculated at30% on the profit from ordinary activities

Decrease in income tax expense due to:Exempt statutory incomeIncome tax expense attributable to profit from ordinaryactivities

11

2008$

2007$

Current assets 2,236,550 1,703,235Non-current assets 920,491 945,878

Totalassets 3,157,041 2,649,113

Current liabilities 211,278 54,385

Total liabilities 211,278 54,385

Net trust assets 2,945,763 2,594,728

(74,123) 69,254

74,123 (69,254)


Notes to and forming part of the frnancial statements


Trustee (continued)

Details of the assets and liabitties of the tnrst held fbr the Members of the PharmacsuticalSociety of Weste,rn Australia as at 31 December 2008 are as follows:

2008$

2,236,550920,491

2007$

1,7Q3,235945,878

Cunent assetsNon-curreirt assets

Total assets

Curr€nt liabilities

Totd liabilities

Net trust assets

Income tax

Prima facie income tax expensd(benefit) calculated at30% on the profit from odinary activities

Decrease in income tax expense due to:Exempt statutory incomeIncome tax expense athibutableto profit fromordinaryactivities

3,157,041 2,649,113

ztr278 54,385

2tr278 54,385

2,945,763 2,594,728

As trustee, the Council is liable for the debts of this trust ftod. However €rc€pt for any debt,liability or other obligation incurred inrelation to any frau4 wilful dehult, negligence orbreachof trust by the trustee, the Deed of Tnrst provides tbat the tnrstee is €ditld to be indemnifiedout of the trust fund in respect of any reasonable debt or other obligation incurred by the tnrsteeas tnrstee of the trust fimd.

2007$

2008$

(74,123)

74,L23

69,254

(69,254)

n




12

2008$

2007$

6 Cash assets

ANZ Cheque 170

ANZ Online Saver 251,177Petty Cash Imprest 250 101

Cash at bank 29,805 8,761

Cash Management Account 128,463 209,212409,865 218,074

7 Receivables

Current

Sundry debtors 6,286 25,871GST received 5,106 6,343

11,392 32,214

8 Other assets

Current

Prepayments 9,218 6,8169,218 6,816

9 Property Plant and Equipment

Office Furniture and Equipment 20,775 15,897Less: Accumulated Depreciation (9,866) (3,095)

10,909 12,802

Total Plant and Equipment 10,909 12,802

Total Property, Plant and Equipment 10,909 12,802

The Pharmaceufical Council of Western Australie

Notes to and forming part of the financial statementc


Cesh assets

AI.IZChequeAl.[ZOnlinc SaverPettyCashlryr€stCashatbankCash Managemeif Account

2W7$

2008$

t70251,177

250- 29,805

128,K3

10;8,761

2W,212

Rcceivebles

Curent

Sundry debtorsGST rcceivcd

Other eccets

Curent

Pr,epalmeifs

Property Plsnt end Equipment

Office Furniturc and Equipme,ntLess: Accumulated Depreciation

Totel Plent end EquipmentTotd Property, Plent end Equlpment

409,865 218,074

6,286 25,8715.106 6,343

11,392 32214

9,218 6,8169,218 6,816

20,775 15,897(9,860 (3,095)10,909 12,802

10,909 12,80210,909 12,802

t2




13 Available funds

Balance at the beginning of the year 25,194 (192,631)Operating profitl(loss) (247,076) 217,825Balance at the end of the year (221,882) 25,194

It has been determined that on 1 July 2010 the council shall cease to exist and will be replacedby the Pharmacy Board of Australia. When this occurs a retention payment will be made. Anestimate of the amount payable based on current staff employed and current wage rates wasapproximately $381,780.

12 Other liabilities

CurrentIncome in Advance 4,900 8,450

4,900 8,450

13

2008$

2007$

10 Payables

Current

Sundry creditors and accruals 66,880 47,889Loan - Pharmaceutical Society of WA 60,785 56,654Visa Account 1,242 291

128,907 104,834

11 Provisions

CurrentProvision for annual leave 56,182 55,553Provision for long service leave 91,497 75,875

147,679 131,428

Non CurrentProvision for retention payments 381,780

529,459 131,428

The Pharmaceutical Council of \ilestern Australia



10 Payables

Curent

Sundry creditors and accrualsIoan - Pharmaczutical Society of WAVisaAccount

2007s

2008$

66,99060,795

L 1,242

47,ggg56,654

29rr28,907 104,834

l1 Provisions

CurrentProvision for annual leaveProvision for long service leave

Non CurrentProvision for reteirtion palments

56,182 55,55391,497 75.975

147,679 131,428

381,790529,459 13L,428

It has been determined tbat on I July 2010 the council shall cease to exist and will Uir.pfr""Aby the Pharmacy Board of Aushalia. When this o@urs a reteirtion palment will be made. Anestimate of the amount payable based on cuneirt staffe,mployed and currelrt wage rates wasapproximately $3 8 1,780.

12 Other liabilities

CurrentIncome inAdvance 4,900 8,450

4,900 8,450

13 Availeble frrnds

Balance at the beginning of the yearOperating profiU(loss)Balance at the end of the year

25,194 (r92,631)Q47,076\ 217,825

l3

Q2t,882) 25,194




13 Available funds (continued)

Available funds have accumulated since the foundation of the Society in 1892. A formerRegistrar undertook an analysis of the historical accumulation of these funds since 1936. Theresult of this analysis was that on an accumulated basis and in a majority of financial years thefunds derived from the Society function were applied to meet a deficiency in funds required forthe Statutory function with the consequence that the Society function subsidised the Statutoryfunction. The analysis further established that the accumulated funds held by the Council as at31 December 2002 represented a cumulative deficit arising from the Statutory function and acumulative surplus arising from the Society function. This trend continues and is supported bythe results of each function for the current financial year.

The above analysis leads to the conclusion that the available funds for the financial year ended31 December 2007, as set out above, can be attributed to the Society function and therefore aresubject to the Rules of the Society. However Rule 4 of the Rules of the Society provides that noportion of the income or property of the Society shall be paid or transferred, directly orindirectly, by way of dividend, bonus or otherwise by way of profit to the persons who at anytime are, or have been, or may thereafter be, members of the Society, or to any of them, or toany person claiming through any of them.

Given this, to allow for the above declaration of trust to be executed, Rule 4 was amended ingeneral meeting of the members of the Society on 26 March 2003. The amendment now allowsmembers of the Society to hold beneficial interests under a trust to promote the objects of theSociety, and being for the benefit of present and future members in their capacity as members.

Notwithstanding the declarations of trust, the deed of Trust has reserved the power of theCouncil under Section 16 of the Pharmacy Act 1964 to use funds vested in it for the purposes ofthe Act including the Statutory Function.

14 Events subsequent to balance date

There has not arisen in the interval between the end of the financial year and the date of thisreport any item, transaction or event of a material and unusual nature likely, in the opinion of thetrustee, to affect significantly the operations of the trust, the results of those operations, or thestate of affairs of the trust in future financial years.

14

13

The Pharmaceutical Council of \ilestern Australia



Available funds (continued)

Available funds have accumulated since the foundation of the Society in 1892. A formerRegistrar undertook an analysis of the historical accumulation of these funds since 1936. Theresult of this analysis was that on an accumulated basis and in a majority of financial years thefunds derived from the Society function were applied to meet a deficiency in funds required forthe Statutory function with the consequence that the Society function subsidised the Statutoryfunction. The analysis further established that the accumulated funds held by the Council as at3l December 2002 represented a cumulative deficit arising from the Statutory function and acumulative surplus arising from the Society function. This trend continues and is supported bythe results of each function for the current financial year.

The above analysis leads to the conclusion that the available funds for the financial year ended3l Decernber 2007, as set out above, can be attributed to the Society function and therefore aresubject to the Rules of the Society. However Rule 4 of the Rules of the Society provides that noportion of the income or property of the Society shall be paid or transferred, directly orindirectly, by way of dividend, bonus or othenvise by way of profit to the persons who at anytime are, or have been, or may thereafter be, members of the Society, or to any of them, or toany person claiming through any of them.

Given this, to allow for the above declaration of tnrst to be executed, Rule 4 was amended ingeneral meeting of the members of the Society on 26 March 2003. The amendment now allowsmembers of the Society to hold beneficial interests under a trust to promote the objects of theSociety, and being for the benefit of present and future members in their capacity as members.

Notwithstanding the declarations of trust, the deed of Trust has reserved the power of theCouncil under Section 16 of the Pharmacy Act 1964 to use funds vested in it for the purposes ofthe Act including the Statutory Function.

Events subsequent to balance date

There has not arisen in the interval between the end of the financial year and the date of thisreport any itenq transaction or event of a material and unusual nafiue likely, in the opinion of thetnrstee, to affect significantly the operations of the trust, the results of those operations, or thestate of affairs of the trust in future financial years.

t4

l 4

Statement by Council

In the opinion of the Pharmaceutical Council of Western Australia:

the Council is not a reporting entity;

the financial statements and notes thereto, set out on pages 1 to 14, are drawn up, in accordancewith the basis of accounting described in Note 1(a), so as to present fairly the financial positionof the Council as at 31 December 2008 and its performance, as represented by the results of itsoperations, for the year ended on that date; and

there are reasonable grounds to believe that the Council will be able to pay its debts as and whenthey become due and payable, with the financial support provided by The PharmaceuticalCouncil of Western Australia as trustee for the members of The Pharmaceutical Society ofWestern Australia

Dated at this day of 2009.

Signed in accordance with a resolution of the Council:

15

Statement by Council

In the opinion of the Pharmaceutical Council of Western Austalia:

(a) the Council is not a re,porting entity;

(b) the financial state,ments and notes thereto, set out on pages I to 14, are drawn up, in accordancewith the basis of accounting described in Note 1(a), so as to present fairly the financial positionof the Council as at 31 December 2008 and its perforrrance, as represeirted by the results of itsoperations, for the year ended on that dae; and

(c) there are reasonable grounds to believe that the Council will be able to pay its debts as and whenthey become due and payable, with the financial support provided by The PharmaczuticalCouncil of WesteinAustralia as trustee forthe members of The Pharmaceuticd Society ofWesternAushalia

S q€\Ato tbi, \A!l* ..day, .\.$RQ$ ... . .r00nDated at

Sigped in accordance with a resolution of the Cormcil:

t5

Independent audit report to the members of Pharmaceutical Council of WesternAustralia

We have audited the accompanying financial report, being a special purpose financial report, ofPharmaceutical Council of Western Australia (the Council) which comprises the balance sheet asat 3 1 December 2008 and the income statement for the year ended on that date, a summary ofsignificant accounting policies and other explanatory notes set out on pages 1 to 15.

Council/or 's responsibility for the financial report

The councillors of the Council are responsible for the preparation and fair presentation of thefinancial report and have determined that the accounting policies described in Notes 1(a) to 1(k)to the financial statements, which form part of the financial report, are appropriate to meet therequirements of the members and are appropriate to meet the needs of the members. Thecouncillors' responsibility also includes establishing and maintaining internal control relevant tothe preparation and fair presentation of the financial report that is free from materialmisstatement, whether due to fraud or error; selecting and applying appropriate accountingpolicies; and making accounting estimates that are reasonable in the circumstances.

Auditor's responsibility

Our responsibility is to express an opinion on the financial report based on our audit. No opinionis expressed as to whether the accounting policies used, as described in Notes 1(a) to 1(k), areappropriate to meet the needs of members. We conducted our audit in accordance withAustralian Auditing Standards. These Auditing Standards require that we comply with relevantethical requirements relating to audit engagements and plan and perform the audit to obtainreasonable assurance whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial report. The procedures selected depend on the auditor'sjudgement.including the assessment of the risks of material misstatement of the financial report, whetherdue to fraud or error. In making those risk assessments, the auditor considers internal controlrelevant to the entity's preparation and fair presentation of the financial report in order to designaudit procedures that are appropriate in the circumstances, but not for the purpose of expressingan opinion on the effectiveness of the entity's internal control. An audit also includes evaluatingthe reasonableness of accounting estimates made by the councillors, as well as evaluating theoverall presentation of the financial report.

These procedures have been undertaken to form an opinion whether, in all material respects, thefinancial report is presented fairly in accordance with the basis of accounting described in Notes1(a) and 1(k) to the financial statements so as to present a view which is consistent with ourunderstanding of the Council's financial position. and of its performance and cash flows.

The financial report has been prepared for distribution to members for the purpose of fulfillingthe Council's financial reporting obligations. We disclaim any assumption of responsibility for

KPMG, an Australian partnershrp and a member firm of the KPMG networkof ndependent member firms affiliated wrth KPMG Internatronal, a Swiss cooperanve

16

Independent audit report to the members of Pharmaceutical Council of WesternAustralia

We have audited the accompanying financial report, being a special purpose financial report, ofPharmaceutical Council of Western Australia (the Council) which comprises the balance sheet asat 3l December 2008 and the income statement for the year ended on that date, a summary ofsignificant accounting policies and other explanatory notes set out on pages I to 15.

Councillor's responsibility for the financial report

The councillors of the Council are responsible for the preparation and fair presentation of thefinancial report and have determined that the accounting policies described in Notes l(a) to l(k)to the financial statements, which form parl of the financial report, are appropriate to meet therequirements of the members and are appropriate to meet the needs of the members. Thecouncillors' responsibility also includes establishing and maintaining internal control relevant tothe preparation and fair presentation of the financial report that is free from materialmisstatement, whether due to fraud or error; selecting and applying appropriate accountingpolicies; and making accounting estimates that are reasonable in the circumstances.

Auditor's responsibil ity

Our responsibility is to express an opinion on the financial report based on our audit. No opinionis expressed as to whether tlre accounting policies used, as described in Notes I (a) to I (k), areappropriate to meet the needs of members. We conducted our audit in accordance withAustralian Auditing Standards. These Auditing Standards require that we comply with relevantethical requirements relating to audit engagements and plan and perform the audit to obtainreasonable assurance whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial report. The procedures selected depend on the auditor's judgerient,including the assessment of the risks of material misstatement of the financial report, whetherdue to fraud or error. In making those risk assessments. the auditor considers intemal controlrelevant to the entity's preparation and fair presentation of the financial report in order to designaudit procedures that are appropriate in the circumstances, but not for the purpose of expressingan opinion on the effectiveness of the entity's internalcontrol. An audit also includes evaluatingthe reasonableness of accounting estimates made by the councillors, ,ts well as evaluating theoverall presentation ofthe financial report.

These procedures have been undertaken to form an opinion whether, in all material respects, thefinancial report is presented fairly in accordance with the basis of accounting described in Notesl(a) and l(k) to the financial statements so as to present a view which is consistent with ourunderstanding of the Council's financial position, and of its performance and cash flows.

The financial report has been prepared for distribution to members for the purpose of fulfillingthe Council's financial reporting obligations. We disclaim any assumption of responsibility for

KPMG. an Austral ian pai lnershrp and a member f i fm ot the KPMG networkot Independent member l i rnrs at l i l ia led wrih KPMG Internalronat. a Swiss cooperatve

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any reliance on this report or on the financial report to which it relates to any person other thanthe members, or for any purpose other than that for which it was prepared.

We be'ieve that the audit evidence we have obtained is sufficient and appropriate to provide abasis for our audit opinion.

Auditor Opinion

In our opinion the financial report presents fairly, in all material respects, the financial positionof Pharmaceutical Council of Western Australia as of3l December 2008 and of its financialperformance and its cash flows for the year then ended in accordance with the accountingpolicies described in Notes 1(a) and 1(b) to the financial statements.

KPMG

Perth

Dated: 13 (hovcV 2cod1

17

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any reliance on this report or on the financial report to which it relates to any person other thanthe members, or for any purpose other than that for which it was prepared.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide abasis for our audit opinion.

Auditor's Opinion

In our opinion the financial report presents fairly, in all material respects, the financial positionof Pharmaceutical Council of Western Australia as of 3l December 2008 and of its financialperformance and its cash flows for the year then ended in accordance with the accountingpolicies described in Notes l (a) and l(b) to the financial statements.

KP*TKPMG .-'

rutu'l(Perth dl

Dated: 13 fuvs1a2OO'l

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Documents

THE COUNCIL OF THE PHARMACEUTICAL … · the council of the pharmaceutical society ... 4cf. annuai report 1/ 2008 (. i p i-'u the council of the pharmaceuticat society of western