This publication contains adjusted financial statements for higher education providers as listed in the Higher Education Support Act 2003 for the 2010 reporting period.

The data was extracted from audited financial statements and provided to the Department of Education, Employment and Workplace Relations in 2011. The adjusted financial statements are presented in a format similar to that outlined in the Department’s Financial Statement Guidelines for Australian Higher Education Providers for the 2010 Reporting Period.

Significant items:

Changes in equity and comprehensive income statement.
On 31 December 2010, Curtin University of Technology transferred the operation and associated assets and liabilities of the Vocational Training and Education Centre (VTEC) to the Western Australia Government for no consideration. As this was the only material operations of a VET nature at Curtin, the university has been removed from table 2 of this publication (Financial Performance for Dual Sector HEPs) as the only VET item reported is included in discontinued operations.

Defined Benefit Obligations.
On the same basis as Finance 2009, universities that have defined benefit obligations and have not adopted the direct to equity approach, have adjusted the amounts reported in this publication as though they had retrospectively adopted this treatment. Deferred superannuation revenue and expenses are reported on a net basis in both profit and loss items and other comprehensive income. As such, universities with only defined benefit obligations that are fully covered by the Australian Government Superannuation Supplementation Program will report a nil expense and nil actuarial changes.

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