GPRA/09AnnuAl RePoRtGeneRAl PRActice ReGistRARs AustRAliA

chair Report 04ceo Report 06Board of Directors 10staff Report 11

corporate Governance Report 12nominations and Remunerations committee Report 14Director’s Declaration 15Finance Report 16external Auditor’s Report 20

Financial statements 23Statement of Cashflows 23Balance sheet 24Profit & Loss Statement 26

notes to the Financial statements 30

contents

03

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GPRA is an energetic and dynamic company that has continued to grow over the last 12 months. Over the course of the past year we have worked to enhance our governance procedures to ensure that we develop in line with our strategic goals and with a standard of excellence in all areas.

From the perspective of chair, perhaps

most crucial to this process has been the

activity and development of the Board.

We have met face to face 3 times this year

to focus on strategic planning and policy development as well as to review many

board and company policies. This, along with regular teleconference meetings,

means that I have enjoyed the support of an efficient and effective Board and I

sincerely thank all our Board Directors for their outstanding commitment.

The Board began the year by making slight modifications to our vision statement:

“GPRA will promote General Practice as the medical specialty of choice and

improve the healthcare of all Australians through excellence in education and

training for registrars present and future.”

We also identified five strategic aims the company would strive towards:

1. Maintain and strengthen good relationships with Stakeholders

2. Seek to improve communication internally & externally

3. continue to foster a supportive environment for General

Practice Registrars

4. continue to promote General Practice as the Medical specialty of choice

5. Seek to sustain and enhance the culture of teaching within General Practice

We have already made significant advances in each of these areas. The following

report covers some of the highlights of the past year.

Registrar Advocacy

This is and will continue to remain GPRA’s core priority. During this last year we

have been active in supporting Registrars on a number of important fronts. our

activities have included:

Development of a website to promote self-care amongst Registrars: •

“RCUBED - Real Resilience Resources” www.rcubed.org.au which is

supported by a monthly e-Newsletter that goes out to Registrars to remind

them of the importance of looking after themselves.

strongly expressing the distress of Registrars to the RAcGP regarding the •

major price increase to the Fellowship exam and conducting a survey of

Registrars to add weight to this advocacy.

Negotiating with the Supervisor Network regarding the National Minimum •

Terms & Conditions document.

Supporting and assisting individual Registrars with questions, queries and •

grievances.

Undertaking a large survey of Registrars’ views regarding compulsory rural •

terms and proposed changes to the Pathways System; this has allowed for

meaningful and representative feedback to be given to GPet and other

stakeholders.

The Advisory Council, consisting of Registrar Liaison Officers (RLOs) from

around the country and other national Representatives, continues to be active

in its support of Registrars and continues to inform GPRA’s direction. With 2

meetings each year and regular listserver correspondence, this group is essential

in ensuring that GPRA are representative of Registrars’ views.

Thank you to all of the dedicated RLOs for all of your work.

Promotion of General Practice

In keeping with our mission of promoting General Practice as the Medical

Specialty of choice, we are striving to ensure that medical students and junior

doctors are exposed to interesting and inspiring stories and experiences of

General Practice from their peers. Such resources will hopefully inspire record

numbers of students and junior doctors to choose General Practice as their

career.

The General Practice Students Network continues to strengthen with active GP

Clubs now in all Universities around Australia. We are also pleased to have seen

the launch of GP Compass, a similar initiative that will see promotion of General

Practice in the “black hole” of the hospital system.

GPRA produces useful and appealing General Practice Guides to complement

such activities. Our guides are written by Registrars with the purpose of better

informing students, pre-vocational doctors and Registrars about the experience

of General Practice.

Breathing NEWLIFE Conference

This annual conference, held in Parliament House in March, was a resounding

success. the conference brought together Presidents and chairs from all leading

General Practice Stakeholder groups, as well as Registrars Liaison Officers,

Indigenous Registrars and General Practice Student Network Ambassadors

from around the country. the major problems in General Practice training and

education were addressed, as were the needs of Indigenous doctors.

United General Practice Australia (UGPA)

GPRA are proud to be a member of this important co-operative of General

Practice Stakeholder Groups, which also includes the Royal Australian College

of General Practitioners, the Australian Medical Association, Australian General

Practice Network, the Rural Doctors Association of Australia and the Australian

College of Rural and Remote Medicine.

We have ensured that issues pertinent to medical students and Registrars remain

firmly on UGPA’s agenda. For instance, GPRA have advocated that the proposed

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General Practice infrastructure Grants be made available to expand capacity to

train medical students, PGPPP doctors and Registrars.

GPRA is also extremely fortunate to have had Mr Amit Vohra at its helm as ceo

now for 3 years, with several years of work behind the GPRA scene prior to that.

His knowledge of the company and the General Practice sector is invaluable to

the success of the company and we are delighted to have negotiated with him

a further 3 year contract. he is supported by an excellent team at GPRA head

office and I would like to extend my sincere thanks to all for your hard work and

dedication.

I am hoping to stay on as GPRA Chair for another year and will work to support

GPRA’s future growth and expansion with strong governance and leadership.

Maintaining an effective two-way communication between GPRA and its

Registrars to ensure that we remain a representative organisation will also be a

key focus.

Belinda Guest

chair

0706

A strong emphasis on promoting General Practice as a specialty of choice, stakeholder relationships and vertical integration continue to be the guiding principles for GPRA in 2009. GPRA continues to grow rapidly as an organisation with significant additions to our portfolio as we launch new projects and cement existing ones.

There has been a significant increase in

core services to GPRA members with a

strong vertical integration drive that has

enhanced our relevance both within and outside the core Registrar market.

Building on the success of the General Practice Student Network (GPSN),

GPRA has recently secured additional funding through General Practice

Education and Training (GPET) to launch a new initiative to promote General

Practice to pre-vocational doctors using the peer-to-peer marketing strategy

that underpins the GPsn.

This financial year GPRA revenue crossed the $1million barrier for the first time

in the organisation’s history. We are at a point where our services to members

have surpassed historical benchmarks and we are increasingly looking at ways

to further promote the profession with improved member services. Currently

we are looking at ways to provide members with support and access to non-

core services in the form of education, Research, scholarships, Professional and

Personal Development resources.

Some of our new initiatives have ignited renewed interest in GPRA activities

from our membership, with an increase in enquiries and support of our actions

as an organisation. In addition we have secured strong support from stakeholder

organisations in our ventures to improve the profile of General Practice and to

promote the profession as a specialty of choice amongst medical students and

pre-vocational doctors.

Significant achievements in the past 12 months include:

New funding contract with the Department of Health and Ageing (DoHA

GPRA continues to be an industry leader in many areas and has gained the

respect and cooperation of a number of government departments. the year

2007 was to be the final year of government funding according to our initial

contract. However, GPRA has successfully launched a number of new initiatives

and projects that have been endorsed and supported by DohA. this year, GPRA

has negotiated a new core funding contract with the Department which secures

base funding for GPRA to deliver these new initiatives until 2011. At a time of

financial instability in many industries, this new contract provides a measure of

security allowing us to continue to deliver high quality services to our members.

GPRA’s strength continues to be in employing a grassroots, solution-focused

approach that delivers measurable value to the Commonwealth.

The General Practice Student Network (GPSN)

The GPSN is now in its second year of operation and has experienced dramatic

growth. With a membership base of over 3,700 students and rapidly expanding,

the GPSN is the fastest growing medical organization in the country. Under the

guidance of a fantastic executive headed by final year student Ms Elina Gourlas,

the GPSN has proven that there is no better way to promote General Practice

to medical students. The GPSN now has a functional club with GP Student

Ambassadors in each of the 20 medical universities across the country. the

current funding contract for the GPSN ends on 31st December 2009, however

early negotiations indicate that funding for this project will continue into the

foreseeable future.

GPSN Schwartz First Wave Scholarship Program

A product designed by GPsn founding chair Dr Joe Rotella, this has been

recognized as a fantastic program to provide early positive exposure to General

Practice to first and second year medical students. The pilot program ran across

3 universities with 24 students participating in 2008-2009. This year the program

is set to double in number and run across 14 universities. strongly supported by

GPET and Regional Training Providers (RTPs), this scholarship program offers a

unique way to allow students to get a taste of what General Practice has to offer

by placing them with enthusiastic GP Registrars who can act as mentors and role

models.

GP Compass

GPRA and the GPSN are excited to propose a new initiative, “GP COMPASS”,

which will bridge the gap between the university system and vocational training.

GP COMPASS will replicate the GPSN peer-to-peer marketing strategy and

provide targeted exposure to GP career options to pre-vocational doctors

within the hospital system by establishing a national peer-supported structure.

Funded by GPET, this program was launched by the Hon. Nicola Roxon MP,

Minister for health and Ageing, in March this year.

Good relationships with stakeholders

GPRA has continued to foster good relationships with all relevant stakeholders

including RAcGP, AcRRM, GPet, AMA, AMsA, the GPsn, AGPn, RDAA and the

NGPSA. This is constantly reflected in the form of GPRA’s active representation

on a number of committees and calls for us to comment and provide feedback

on various topical issues. in some cases GPRA has assisted these organisations

to help meet their objectives. At a regional level, GPRA continues to liaise closely

with the RTPs and has regularly attended the RTP CEO meeting to build a closer

relationship with them. The RTPs have been instrumental in assisting us with

the successful implementation of the GPSN Schwartz First Wave Scholarship

Program and GP compass.

Key position in United General Practice Australia (UGPA)

GPRA is a full member of the newly formed UGPA – a peak body representing

General Practice issues to the Federal Government and to the Minister’s office.

A number of key policy changes have already been influenced by the active

engagement from this group. GPRA’s involvement in uGPA ensures that General

Practice education and training remain on the top of the health care reform

agenda that is currently being progressed by the Federal Government. some

ceo RePoRt

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early wins include an increase in the number of General Practice training places

and the recent announcement for capital injection to support and enhance

General Practice infrastructure.

Increased market and media awareness

GPRA has released multiple media releases in the last 12 months which have

focused on a variety of areas. the Breathing neWliFe into General Practice

conference held at Parliament house, canberra earlier this year provided

widespread industry exposure and relevance. Supported by the Hon. Nicola

Roxon MP, Minister for health and Ageing, the Department of health and Ageing

and GPET, this conference continues to grow in popularity and is the only one of

its kind to bring together Registrars and medical students with current industry

leaders to discuss issues facing General Practice. GPRA also continues to receive

an increasing number of queries from journalists and stakeholder organisations

and is frequently invited to comment on issues. The Board and management have

been featured regularly in the medical press and provide Registrar and student

perspectives on a number of issues.

Vertical integration across the GP training continuum

GPRA recognises the importance of vertical integration and the need to

increase our profile amongst doctors early on in their careers. The GPSN and

GP Compass form the vital link with our future members and we are constantly

providing new networking opportunities to bring Registrars, students and pre-

vocational doctors together. Recent changes to our constitution ensure that

both students and pre-vocational doctors can become GPRA members, and in

future, be able to hold Board positions. GPRA will continue to develop a range

of products and services that provide targeted resources across the training

continuum and which deliver a vertically integrated approach in attracting and

supporting the future GP workforce.

Increased revenue streams including sponsorship

GPRA has met its financial targets in the last 12 months with revenue generated

from sponsorships, advertising and donations. this has largely been facilitated

by a continued focus on delivering new projects that align with our core values

and vision. However, GPRA still needs to substantially increase the current

revenue streams to cement financial viability into the future. We have added

new sponsors to our network and are working with a variety of organisations to

provide enhanced services to GPRA members.

Increased number of products and services for Registrars & students

GPRA has been working hard to increase relevance across the industry and to

launch new initiatives that will not only offer support to different stakeholders,

but also introduce new revenue streams which will enable us to achieve financial

independence;

GPRA - OCHRE Recruitment partnership: GPRA has partnered with Ochre

Recruitment to provide a targeted job placement service to Registrars post

completion of training. ochre Recruitment has embraced GPRA’s principles of

providing a well rounded Registrar-centric service that offers a holistic placement

service including assisting in negotiating contracts. We hope that this service

relieves some of the uncertainty Registrars experience after completion of

training. this service is free to Registrars.

GREYMATTER™: GREYMATTER is an online, open-access, repository of

‘grey literature’ in the primary health care sector. Grey literature comprises

newsletters, reports, working papers, theses, government documents, fact sheets,

conference proceedings and other documents that are free of charge but difficult

to find. GREYMATTER allows users to share this grey literature within the sector

allowing users instant access to the latest trends and data within the sector. www.

greymatter.org.au

RCUBED – Real Resilience Resources: RCUBED is about resilience - this

means both bouncing back after being under inevitable demands and also

implementing ways to reduce pressures. This website has been developed to

assist GP Registrars, medical students and pre-vocational doctors by providing

them with real strategies, such as time management, developing a strong sense

of self and having sturdy support networks, to build resilience in busy times.

this initiative is a direct response to feedback from GP Registrars and medical

students about the pressure they are often under and the need to be able to

manage this effectively and to stay well. www.rcubed.org.au

GPRA - Healthed Partnership: GPRA has partnered with Healthed, provider of

Australia’s most popular GP seminars. All GPRA members, including students, will

be able to attend healthed’s seminar series at a heavily discounted registration

price. in addition, a number of free registrations are also being offered on a

first-come-first-served basis to most seminars. These seminars are consistently

reviewed as high quality and practically relevant to General Practice. They feature

leading specialist experts who present independent and up-to-date information

on topics selected by Australian GPs.

Publications: At GPRA we have continued our focus on providing information

across all continuums via our targeted publications. these publications form part

of our strategy to increase the profile of the profession amongst hospital doctors

and medical students and to thus achieve a presence at all levels across the

industry.

Futures Series: GPRA’s Future series has been a popular event for the provision

of non-clinical support for Registrars. This year’s event will run in conjunction

with the Divisions’ Forum held by AGPN and will be held in the first week of

november in sydney. A complete revamp of the social and professional program

ensures that the Future Series will become one of our most popular events in

the future.

Online Exam Resources (OER): The OER initiative is progressing and we are

looking at additional exam related resources for our members. soon to have a

new interactive website with multiple exam-related resources, OER will expand

in its focus in future months and will be available to different member segments.

At present the resources are based around the RAcGP clinical exam for GP

Registrars, with over 40 clinical cases available for free to our members.

Qantas Club Corporate Account: GPRA continues to provide access to the

Qantas club at reduced rates for GPRA members. the savings offered to

Registrars by participating in this program as a GPRA member are in excess

of $200 per annum. These rates are comparable to what is available to AMA/

RAcGP members through their paid membership program.

Practice Pages™: A fully functional online portal which allows GP practices

to advertise GP job vacancies to Registrars. We are currently exploring

opportunities to partner with other organisations to expand this resource. This

resource remains free for members and non-members to access.

Mentors Program™: The online platform for the new Mentors Program is in

the process of being revamped and will soon have a new interactive format. The

Mentors Program forms part of our support to GPSN members and we are

currently looking at ways to enhance its delivery and uptake.

Increased research focus

GPRA completed a qualitative and quantitative research study on the pilot GPSN

Schwartz First Wave Scholarship Program which showed a positive correlation

between career choices and an early positive exposure to a specialty. In addition,

separate surveys conducted by GPRA with Registrars and medical students have

provided an overview of the attitudes of these groups and their experiences in

training. GPRA aims to make these surveys an annual occurrence in order to

allow us to measure changes in attitudes over time.

Registrars, pre-vocational doctors and medical students represent the future

of primary care in Australia. With a renewed focus on providing a sustainable

primary care workforce for Australia, GPRA is positioning itself as a strong

advocate for promoting General Practice as a specialty of choice. A firm

commitment to taking a grassroots approach, staying solution-focused, enhancing

services to Registrars, pre-vocational doctors and medical students and building

stakeholder value, ensures that it will be an exciting year ahead.

GPRA has a committed management team that facilitates the delivery of our

products and services to our membership. GPRA’s continued growth and success

is underpinned by the hard work of our staff and I would like to applaud their

commitment and service to the organisation.

Amit Vohra

ceo

0908

ceo RePoRtcontinued

The period 2008-2009 has been a time of unprecedented growth for GPRA and our Board has continued to provide its strategic direction during this exciting phase under the leadership of Chair, Dr Belinda Guest.

New additions to the Board included Dr Jo Noble, Dr Jennifer Mooi and

Dr Bennie Ng who brings a wealth of experience in the areas of strategic

growth, business development and policy.

The current Board of Directors includes:

Dr Belinda Guest

Dr Joseph turner

Dr tim Francis

Dr Bennie ng

Dr Jennifer Mooi

Dr Manisha Fernando

Dr Jo noble

This year we also bid farewell to the following Directors:

Dr naomi harris

Dr Yi lee Phang

Dr evan Grambas

GPRA thanks them for their invaluable contribution and looks forward to

welcoming a set of new Directors. The new Board for 2009-2010 will be

announced after the GPRA AGM on 5th september 2009.

BoARD oF DiRectoRs

Management staff

Margo Field – Senior Manager GP Compass

Margo has been with GPRA since the beginning of 2008. She works closely with

Amit on special projects as well as managing the GPRA team. At the moment,

she is heavily involved in setting up the GP compass initiative.

Kate Marie – Business Development Manager

Kate Marie specialises in strategic marketing and publishing, both traditional and

online, within the health and medical sectors. She has a strong background in

sales and marketing and has been involved in several new GPRA initiatives as

well as securing sponsorship partnerships.

Connie Lambrou – Project Manager

Connie manages the GPSN Schwartz First Wave Scholarship Program and also

provides support to the GPRA Board. Connie enjoys doing policy work, writing

and editing marketing communication materials and collating research reports.

Janice Lim – Communications Officer

Janice provides member services and implements sponsorship services. she

is involved in co-ordinating GPRA events and meetings and organises for

GPRA/GPsn to exhibit at conferences run by other health organisations

throughout the year. Janice also provides support to the Board, Rlo’s and

senior management.

Laura Borelli – GPSN Project and Marketing Officer

laura provides administrative support to GPsn executive and local clubs in

relation to GPSN initiatives. As the GPSN project officer, her role is to ensure

smooth running of all GPsn clubs and related projects and provide support to

the GPsn clubs in each university. laura also enjoys attending national events

and conferences to promote General Practice to medical students and to

encourage them to sign up as members.

Rebecca Qi – Accounts Officer

Rebecca handles all things related to accounts. she has a passion for number

crunching and is currently undergoing her cPA. Rebecca also provides

administrative support around the office.

Kylie Flack – Website Administrator

Kylie has recently started working part-time at GPRA as Website Administrator.

she assists in the uploading of content and management of the RcuBeD, GPsn,

and GREYMATTER websites and provides support with eNewsletters, project

work and other office needs.

Joel Edwards – Web Developer

Joel Edwards is the youngest staff member on the GPRA team. He is a web

developer and is currently working on many exciting projects including upgrading

the current GPSN and GPRA website to make it more user-friendly and to give

it a new fresh look. In addition, he is also developing other new websites such as

R CUBED, OER and GP Compass just to mention a few.

stAFF RePoRt

10

Dr Belinda Guest Dr Joseph Turner Dr Tim Francis Dr Bennie Ng

Dr Jennifer Mooi Dr Manisha Fernando Dr Jo Noble

Margo Field Kate Marie Connie Lambrou Janice Lim

Rebecca QiLaura Borelli Kylie Flack Joel Edwards

As GPRA grows we are adopting best practice in terms of corporate governance and organisational management.

This year the GPRA management team and Board have been working hard to

create a robust Corporate Governance Charter that clearly defines the roles,

responsibilities and authorities of the Board of Directors, both individually and

collectively. Our new Charter also sets out the strategic direction, management

and control of the organisation.

By instituting this Charter there are two primary benefits for GPRA.

The first is the development of a top-level policy document that can:

Assist the Company’s leadership to deliver good governance;•

Act as a point of reference; and•

Act as an induction tool for new Directors and managers.•

The second key benefit of the Charter is that it affords the Board:

A forum to discuss some “not mentioned” issues that are often left •

unattended and could lead to conflict and poor corporate governance;

A team development technique for Board members; and •

A starting point for strategic planning.•

GPRA’s corporate Governance charter is the foundation for the corporate

planning process.

It provides an essential outline of the roles of the ultimate decision-makers in

the organisation and details the decision-making process of the organisation. The

charter also outlines the expectations of the Board about critical policies such as

risk management and the delegation of responsibility.

The following hierarchical chart illustrates the relationship between the

Corporate Governance Charter and other key planning levels within GPRA.

Whilst the Charter itself is still a work in progress, the structure has been created

and GPRA are in the process of finalising its various components. The diagram

below provides an overview of the contents of the Corporate Governance

charter document.

With the institution of the corporate Governance charter, GPRA has created

specific committees on the Board to look at different aspects of corporate

governance including Audit, Finance, succession Planning, Director and senior

Management evaluation and Remuneration, Risk Management and strategic

Planning. An overview of the meetings held in the last financial year is provided

on page 13.

coRPoRAte GoVeRnAnce RePoRt

13

BOARD MEETINGS RECORD

Date & Hours Aug-08 Sep-08 Oct-08 Nov-08 Jan-09 Feb-09 Mar-09 Apr-09 Jun-09 % of

Total

Type F2F TC TC TC F2F TC F2F TC F2F

Belinda Guest Y Y Y Y Y Y Y Y Y 100%

Tim Francis Y N N Y Y Y Y Y Y 78%

Joseph Turner Y Y N N Y N N Y Y 56%

Manisha Fernando N Y Y Y N Y Y Y Y 78%

Joanne Noble Y Y Y Y Y Y N Y Y 89%

Jennifer Mooi Y N N N Y Y Y Y Y 67%

YI-Lee Phang Y Y Y Y Y Y Y N N 78%

Audit & Finance Committee

Date & Hours Oct-08 Dec-08 Jan-09 Jun-09

Type TC TC F2F F2F

Belinda Guest n/a n/a n/a Y

Tim Francis Y Y Y Y

Joseph Turner Y Y Y Y

Manisha Fernando n/a n/a n/a Y

Joanne Noble n/a n/a n/a Y

Jennifer Mooi n/a n/a n/a Y

YI-Lee Phang Y Y Y n/a

Remuneration & Nominations Committee

Date & Hours Oct-08 Apr-09 13-Jun-09 22-Jun-09

Type TC TC TC TC

Belinda Guest Y Y Y Y

Tim Francis n/a n/a n/a n/a

Joseph Turner n/a n/a n/a n/a

Manisha Fernando n/a n/a n/a n/a

Joanne Noble n/a n/a n/a Y

Jennifer Mooi Y Y Y Y

YI-Lee Phang Y N n/a n/a

Nominations & Remunerations Report

The Nominations & Remunerations (N&R) committee has had a fairly busy year.

This was a new committee which was set up by the Board following the last

AGM. We commenced activities by reviewing the terms of reference for this and

other committees directed by the Board including that for the Finance and Risk

& Audit committees.

The purpose of the N&R committee is to act on behalf of and provide

recommendations to the Board on matters surrounding nomination and

remuneration of the Board and the ceo.

Some of the key areas of involvement identified for the N&R committee are:

succession planning for the Board•

Remuneration policies for the Board•

Appointment, remuneration and performance review of CEO (and any other •

senior management)

Monitoring of GPRA representation on external committees•

And any other areas of input as directed by the Board. •

One of the first tasks delegated to this committee by the Board was to review

the HR structure of the organisation. The Board and management had identified

that the levels of staffing up to 2008 had not been increased to match the

growth of the business of the organisation in the previous 24 months. This was

resulting in overloading of existing staff members, vulnerability of core projects

and areas of business during periods of uncovered leave and an overall reduction

in productivity and effectiveness of the organisation.

Hence a new HR structure was proposed by the CEO, for review by the N&R

committee. The committee reviewed this new proposed structure in detail, in

accordance with the current and future business needs of the organisation. The

committee also requested feedback from the Finance committee regarding the

feasibility of the proposed hR structure according to GPRA’s funding streams.

As GPRA’s core funding for 2009-2010 had not been secured at that stage, it

was decided that a phased approach to the new HR structure would be more

appropriate, whereby the most essential staff positions would be filled first, with

others to follow as funding became available. After the committee was satisfied

with the proposed new HR structure, this was recommended to the Board for

final approval.

The other major task for this committee was the review of the CEO’s contract

and remuneration package. The CEO’s position description and contract was

reviewed and updated to reflect the growth in business and expansion of HR

structure of the organisation. The committee also reviewed the remuneration

package for the ceo. An outline for formal performance appraisal and annual

review for the CEO was also set up.

the Directors had made a decision to change the composition of the Board

to reflect the different groups that GPRA, as an organisation, encompasses. The

N&R committee was tasked with confirming the details of such changes to be

represented in the organisation’s constitution. The committee also reviewed and

made recommendations for changes to remuneration for all Directors, which is

reflected in the new Director’s Remuneration Policy document.

Finally, the committee is aware of the upcoming turnover of Directors for late

2009, and has discussed measures to preserve retention of corporate knowledge

and effective handover. the production of a Board Director’s induction pack is

hoped to help orientation of new Directors to the Board.

Dr Jennifer Mooi

Chair Nominations & Remunerations Committee

in the opinion of the directors of General Practice Registrars Australia ltd

(GPRA),

(a) the financial statements, and the notes thereto, comply with accounting

standards and the Corporations Law;

(b) the financial statements and notes thereto give a true and fair view of the

financial position as at 30 June 2009, and of the performance of the Company

for the year ended 30 June 2009; and

(c) in the opinion of the directors, at the date of this declaration, there are

reasonable grounds to believe that the Company will be able to pay its

debts as and when they become due and payable.

(d) the financial statements include a complete and accurate account of all

income and expenses in relation to the GPsn and GP compass projects

which are identified within these statements.

This statement has been made in accordance with a resolution of the directors.

Dr Belinda Guest

chair

noMinAtions AnD ReMuneRAtions coMMittee RePoRt

DiRectoR’s DeclARAtion

1514

Background

GPRA was established as an independent body in 2001, in conjunction with

the regionalisation of the GP training program, under a funding grant from the

Department of health and Ageing to provide ongoing support to GP Registrars.

In 2004 GPRA moved to a step-down funding model with a view to gradually

moving towards financial independence. Multiple funding arrangements have

been used during this time including a core funding model, a project-based

funding model as well as a hybrid of both of these. Over the past three years,

GPRA has matured as an organisation and continues to meet and exceed

organisational and government goals and objectives.

In the 2008-2009 financial year, GPRA has successfully negotiated a new

core funding contract with the Department of Health and Ageing to support

GP Registrars during their training by offering targeted services. In line with

our organisation’s vision, GPRA has identified numerous projects aimed at

promoting General Practice as a specialty of choice that have attracted specific

project-based funding. In addition to administering the General Practice Student

Network (GPSN), we have recently secured initial funding to setup GP Compass

– a program that is designed to replicate the GPSN peer-to-peer marketing

strategy to promote General Practice to pre-vocational doctors. Both the GPSN

and GP Compass are funded by General Practice Education and Training (GPET).

GPRA has leveraged our networks and created substantial revenue streams

from sponsorships and advertising. At present GPRA generates over $300,000

from corporate sponsorships, donations and advertising across a variety of new

products that have been developed to support the sector.

GPRA has a renewed focus in addressing GP workforce shortages and has

been successful in launching a number of new initiatives in this direction.

These include:

GP promotion publications targeting medical students and pre-vocational •

doctors

A Mentoring Program to link future entrants to Registrars in the training •

program

The General Practice Students Network (GPSN) to promote General •

Practice to students

GPSN Schwartz First Wave Scholarship Program to provide early exposure •

to General Practice

GP Compass to promote General Practice to pre-vocational doctors in the •

hospital system

As a result of these initiatives GPRA has a significantly expanded budget for the

coming years. At the same time we have found that our revenue generation

via sponsorships and advertising has now reached a plateau. GPRA is currently

working closely with the Department of Health and Ageing and GPET to

innovate in the sector and deliver grassroots-driven solutions.

The Year in Review

The financial year 2008-09 produced a healthy financial performance. The annual

income increased by 20% with the introduction of new projects and the net

surplus was similar to that of the last financial year. GPRA remains in a very

positive position with minimal liabilities and a strong net asset base which will

allow for an expansion in staffing required to deliver the new projects.

The comparison with previous years indicates that GPRA has steadily increased

its revenue in the last few years which is indicative of new projects that GPRA

is currently delivering. The strong growth is underpinned by a healthy asset base

which puts the organisation in a strong financial position.

FinAnce RePoRt

FY 2008-09 FY 2007-08 FY 2006-07 FY 2005-06 FY 2004-05

Total Income $1,181,251 $933,401 $535,578 $523,219 $331,692

Total Expense $1,097,750 $848,446 $474,402 $383,950 $282,960

Surplus $83,500 $84,955 $61,300 $139,269 $48,732

as at 30/06/09 as at 30/06/08 as at 30/06/07 as at 30/06/06 as at 30/06/05

Current Assets $609,110 $433,828 $347,029 $273,526 $79,704

Non-current Assets $ $4,311 $5,487 $4,058 $8,289

Total Assets $609,110 $438,140 $352,516 $277,584 $87,993

Current Liabilities $179,392 $91,923 $91,254 $81,430 $32,270

Net Assets $429,717 $346,217 $261,262 $196,154 $55,723

16

AccePteMBRAceADoPt WelcoMeReceiVetRustResPectesPouseinVolVe

FinAnce RePoRtcontinued

Revenue Streams Expenses

GPRA’s Board and management are committed to ensuring the financial

sustainability of GPRA, and our affiliates, into the foreseeable future. In order to

ensure that GPRA continues to function as the primary organisation for medical

students, pre-vocational doctors and GP Registrars on education, training and

workforce issues, we need the continued support and involvement of our

members.

If you are interested in joining the GPRA Finance committee please contact

us at chair@gpra.org.au

1918

$2,400

n BNL 2009n Donation for Indigenous Kids Appealn General Publicationsn Government Grants – DoHAn GPET Funding – GPSNn Interest Received

n Donationn Expenses Reimbursedn General Sponsorshipsn GPET Funding – GP Compassn GPSN First Wave Scholarshipsn Subscriptions Income

$480,000

$234,091

$75,000

$59,480

$249,211

$3,300$3,271$12,836

$21,412$25,000

$15,252

$2,400

n BNL 2009n Donation for Indigenous Kids Appealn General Publicationsn Government Grants – DoHAn GPET Funding – GPSNn Interest Received

n Donationn Expenses Reimbursedn General Sponsorshipsn GPET Funding – GP Compassn GPSN First Wave Scholarshipsn Subscriptions Income

$480,000

$234,091

$75,000

$59,480

$249,211

$3,300$3,271$12,836

$21,412$25,000

$15,252

$537,26249%

$427,53939%

$104,10010%

$3,4180% $25,431

2%

exteRnAl AuDitoRs RePoRt

Scope

The Financial Reports and Members’ Responsibility

The financial reports presented for audit indicate the financial performance and

financial position of the company for the year ended 30 June 2009. Our audit

was based on the supporting data presented to us by the members of the

company.

the members of the company are responsible for preparing and maintaining

adequate accounting records and internal controls that are designed to prevent

fraud and error and for the accounting policies and accounting estimates

inherent in the Financial Reports.

the members have determined that the company is a non reporting entity and

that the financial reports are therefore special purpose financial reports, which

do not require the’ application of all accounting standards in Australia or other

particular financial reporting requirements. The members have determined that

the accounting policies used are consistent with the company’s financial reporting

requirements and are appropriate to meet the needs of the users of these

reports. No opinion is expressed as to whether the accounting policies used are

appropriate to the needs of the users of the financial reports.

Audit Approach

We conducted an independent audit of the completed financial reports in

order to express an opinion of them to the members of the company. our

audit was conducted in accordance with the Australian Auditing Standards to

provide reasonable assurance as to whether the financial reports are free of

material misstatement. The nature of an audit is influenced by factors such as

the use of professional judgement, selective testing, the inherent limitations of

internal control and the availability of persuasive rather than conclusive evidence.

therefore an audit cannot guarantee that all misstatements have been detected.

We performed procedures to assess whether in all material respects the financial

reports represent fairly, in compliance with Accounting Standards in Australia and

other mandatory financial reporting requirements in Australia, a view which is

consistent with our understanding of the company’s financial position and of it’s

performance which is represented by the results of it’s operations.

We formed our opinion on the basis of these procedures, which included:

examining on a test basis, information to provide evidence, supporting •

the amounts and disclosures in the financial reports,

assessing the appropriateness of the accounting policies and disclosures •

used and the reasonableness of significant accounting estimates made by

the company’s members.

Whilst we considered the effectiveness of managements internal controls over

financial reporting when determining the nature and extent of our procedures,

our audit was not designed to provide assurance on internal controls. We

performed procedures to assess whether the substance of business transactions

were accurately reflected in the financial reports. These and our other

procedures did not include consideration or judgement of the

appropriateness or reasonableness of the business plans or strategies adopted by

the members and management of the company.

Independence

We are independent of General Practice Registrars Australia limited and have

met the independence requirements of the applicable Australian Professional

ethical Pronouncements and the corporations Act 2001.

the audit opinion expressed in this independent audit report has been formed

on the above basis.

Audit Opinion

In our opinion, the financial reports of General Practice Registrars Australia Ltd:

a) give a true and fair view of the company’s financial position as at 30 June 2009 and ofit’s performance for the year which includes it’s surplus and cash flow for the respective period,

b) comply with Australian Accounting Concepts and applicable Accounting standards

c) are in accordance with the Corporations Act 2001 and other mandatory professional reporting requirements.

Lyra Livich & Associates

toni livich AniA

Lyra Livich & Associates

28 July 2009

20

PARtneRFelloWcoMRADe AssociAteconteMPoRARYcoMPeeRPeeRcolleAGue

FinAnciAl stAteMents

Statment of cashflows - July 2008 through June 2009

23

Cash Flow from Operating Activities

Net Income $83,500.88

Accounts Receivable $37,561.49

computer Accum Dep'n -$4,311.72

trade creditors -$33,170.65

employee PAYG Payable $3,841.00

GPRA emplyee sGc super Payable $886.79

GPsn emplyee sGc super Payable $3,011.50

GP compass employee sGc super Payable $3,169.10

tax collected from sales $81,978.47

tax paid on Purchases -$55,861.46

GPRA Annual leave Accrual Payable $5,390.63

GPsn Annual leave Accrual Payable $6,333.15

GP compass Annual leave Accrual Payable $7,133.40

GPRA sick leave Accrual Payable $2,967.16

GPsn sick leave Accrual Payable $2,469.32

GP compass sick Annual leave Accrual Payable $3,459.28

Retained earnings -$52,313.53

Net Cash Flows from Operating Activities $96,044.81

Cash Flow from Investing Activities

Net Cash Flows from Investing Activites $0.00

Cash Flow from Financing Activities

Net Cash Flows from Financing Activities $0.00

Net Increase / Decrease for the period $96,044.81

cash at the Beginning of the period $300,246.60

cash at the end of the period $396,291.41

ReAchARRiVeReAliseeARn AccoMPlishcoMPleteGAinsecuReWinAcQuiReexecute

FinAnciAl stAteMents continued

Balance Sheet

ASSETS

Current Assets

cash on hand

Macquarie - DGR $26,017.10

Macquarie - Grant A/c $161,092.74

Macquarie - Membership A/c $14,031.98

Macquarie - Sponsorship A/c $150,977.67

CBA - Membership A/c Booragoon $12,479.96

AMex Amit Vohra -$1,154.23

emerchants host Account $9,292.88

GPRA Admin & Acc Officer eMerchants Expense Card $756.82

GPRA chair eMerchants expense card $145.40

GPRA Mktng & Comm Officer eMerchants Expense Card $1,086.50

GPsn Monash eMerchants expense card $159.69

GPsn Adelaide eMerchants expense card $129.34

GPsn Anu eMerchants expense card $465.65

GPsn Bond eMerchants expense card $657.14

GPsn chair eMerchants expense card $1,037.60

GPsn Deakin eMerchants expense card $501.81

GPsn Flinders eMerchants expense card $1,385.43

GPSN Griffith eMerchants Expense Card $2,580.16

GPsn Jcu eMerchants expense card $1,251.66

GPsn Melbourne eMerchants expense card $1,460.05

GPSN Newcastle eMerchants Expense Card $1,966.55

GPsn notre Dame eMerchants expense card $1,038.56

GPsn notre Dame sydney eMerchants expense card $1,386.93

GPsn ns eMerchants expense card $106.12

GPsn nsW eMerchants expense card $360.59

GPsn PM eMerchants expense card $798.57

GPSN Publication Officer eMerchant Expense Card $134.25

GPsn sydney eMerchants expense card $1,391.66

GPsn tasmania eMerchants expense card $500.00

GPsn uQ eMerchants expense card $1,000.00

GPsn Vice chair eMerchants expense card $469.81

GPsn WA eMerchants expense card $458.85

GPsn Wollongong eMerchants expense card $871.88

GPsn Wsyd eMerchants expense card $1,452.29

Total Cash On Hand $396,291.41

Accounts Receivable $102,427.28

24 25

Withholding Credits

tax Paid on Purchases $110,391.84

Total Withholding Credits $110,391.84

Total Current Assets $609,110.53

Fixed Assets

Computer

computer at cost $18,484.67

computer Accum Dep'n -$18,484.67

Total Computer $0.00

Total Fixed Assets $0.00

TOTAL ASSETS $609,110.53

LIABILITIES

Current Liablilites

Employee PAYG Payable $10,242.08

GPRA Employee SGC Super Payable $4,391.63

GPsn employee sGc super Payable $5,414.84

GP Compass Employee SGC Super Payable $3,169.10

GPRA Annual Leave Accrual Payable $5,390.63

GPsn Annual leave Accrual Payable $6,333.15

GP compass Annual leave Accrual Payable $7,133.40

GPRA Sick Leave Accrual Payable $2,967.16

GPsn sickl leave Accrual Payable $2,469.32

GP Compass Sick Leave Accrual Payable $3,459.28

tax collected from sales $128,422.04

Total Current Liabilities $179,392.63

TOTAL LIABILITIES $179,392.63

NET ASSETS $429,717.90

EQUITY

Current Earnings (My Profit) $83,500.88

Retained earnings $346,217.02

TOTAL EQUITY $429,717.90

Profit & Loss = Assets - Liabilities

Please note that this report shows amounts excluding tax.

FinAnciAl stAteMents continued

Profit & Loss Statement - July 2008 through June 2009

INCOME

Bnl 2009 $21,411.91

Donation $25,000.00

Donation for indigenous Kids Appeal $3,270.90

expenses Reimbursed $15,251.62

General Publications $59,480.00

General sponsorships $249,210.91

Government Grants – DoHA $234,090.91

GPET Funding – GP Compass $75,000.00

GPET Funding – GPSN $480,000.00

GPsn First Wave scholarships $2,400.00

interest Received $12,835.59

subscriptions income $3,300.00

Total Income $1,181,251.84

cost of sales $0.00

GROSS PROFIT $1,181,251.84

EXPENSE

Board(BD)

BD - Administration & Supplies $2,280.03

BD - Chair Travel, Accommodation & Others $5,276.45

BD - Professional Development $7,423.00

BD - Travel & Accommodation $10,451.64

Total Board Costs (BD) $25,431.12

GPRA Expenses

GPRA Accounting $3,053.71

GPRA AGM $7,361.63

GPRA Bnl canberra 09 $33,639.99

GPRA Canberra Summit 08 $2,185.09

GPRA Future series $24,064.14

GPRA Greymatter $2,992.78

GPRA ict $13,544.20

GPRA insurance $2,198.55

GPRA indigenous health $2,428.63

GPRA Merchant Fees $1,308.04

GPRA national external events $9,043.85

GPRA ochRe $77.04

GPRA oeR $700.00

26

GPRA Office Maintenance $18,102.90

GPRA Publications $25,874.16

GPRA Rajakumar Movement $145.00

GPRA Rcubed $2,909.83

GPRA Salaries & Wages $181,280.45

GPRA sGc super $15,579.08

GPRA sponsorship Relations $68,070.89

GPRA staff Amenities $1,602.37

GPRA Staff Travel, Accommodation & Others $4,707.57

GPRA stakeholder Relations $6,669.34

Total GPRA Expenses $427,539.24

GPSN General Expenses

GPsn Accounting $3,738.05

GPsn Adelaide expenses $6,513.55

GPsn Anu $203.81

GPsn Bnl canberra 09 $65,006.50

GPsn Bond $5,163.77

GPSN Canberra Summit 08 $3,277.64

GPsn council Meetings $17,800.61

GPsn Deakin university $1,128.62

GPsn Depreciation expense $4,311.72

GPSN Executive Travel, Accommodation & Others $4,915.12

GPsn First Wave $54,356.88

GPsn Flinders university $947.57

GPSN Griffith Expenses $912.97

GPsn ict $23,024.69

GPsn insurance $2,198.56

GPsn James cook university $3,051.06

GPsn Marketing $12,839.32

GPsn Merchant Fees $366.32

GPsn Monash expenses $2,316.73

GPsn national external events $15,804.59

GPsn notre Dame expenses $4,776.39

GPsn notre Dame sydney $2,897.59

GPSN Office Maintenance $19,885.82

GPsn Professional services/consulting $9,712.50

GPsn Publications $14,112.17

GPSN Salaries & Wages $174,246.91

GPsn sGc super $15,050.19

27

FinAnciAl stAteMents continued

Profit & Loss Statement - July 2008 through June 2009

GPsn sponsorship Relations $32,570.38

GPsn staff Amenities $1,796.37

GPSN Staff Travel, Accmmodation & Others $5,317.57

GPsn stakeholder Relations $4,130.80

GPsn tasmania expenses $458.50

GPsn university of Melbourne $862.18

GPSN University of New South Wales $2,619.52

GPSN University of Newcastle $1,996.97

GPsn university of sydney $2,524.71

GPsn uQ $3,380.84

GPsn uWA $6,839.71

GPsn Western sydney $310.87

GPsn Wollongong $5,894.06

Total GPSN Expenses $537,262.13

GP Compass Expenses

GP compass Accounting $351.29

GP compass consulting $2,000.00

GP Compass Design and Artwork $836.50

GP compass ict $1,954.88

GP compass national external events $1,828.92

GP Compass Office Maintenance $3,402.09

GP compass Publications $22,658.59

GP Compass Salaries & Wages $48,246.64

GP compass sGc super $3,591.06

GP compass sponsorship Relations $6,602.42

GP compass staff Amenities $113.94

GP Compass Staff Travel, Accommodation & Others $2,362.79

GP compass stakeholder Relations $10,150.95

Total GP Compass Expenses $104,100.07

indigenous Kids Program $3,418.40

Total Expenses for Indigenous Kids Program $3,418.40

TOTAL EXPENSES $1,097,750.96

OPERATING PROFIT $83,500.88

Other Income $0.00 $0.00

Other Expenses $0.00 $0.00

NET SURPLUS/(DEFICIT) $83,500.88

29

PRoGRessleADPRoceeDFoRWARDADVAnceAheAD DeVeloPshiFtstiRheADWAY

30

notes to the FinAnciAl stAteMentsFor the year ended 30 June 2009

Overview

GPRA is a not-for-profit organisation with all funds directed towards the

achievement of our objectives as laid out in the company’s constitution.

Significant changes in state of affairs

There were no significant changes in the state of affairs of the company that

occurred during the financial year that are not otherwise disclosed in this report

or in the financial statements.

Performance in relation to environmental regulation

There was no environmental legislation applicable to the operations of the

company which has not been complied with.

Likely developments and future results

The company anticipates that it will maintain a positive financial position in

2009/2010. The company is continually updating, reviewing and improving its

management and governance practices to ensure that the objectives of the

company and its Directors are met. With the inclusion of new projects there is

significant scope for growth in the next financial year.

Dividends

The company is a not-for-profit organisation limited by guarantee and it’s

constitution precludes the payment of dividends.

Events subsequent to balance date

No circumstances have arisen since the end of the year which have significantly

affected or may significantly affect the operations, the results of those operations

or the state of affairs of the company in future financial years.

Principal activities

The principal activities of GPRA through the year were aimed at supporting

its members and promoting high standards of care in General Practice for the

benefit of the community. This was done through promoting General Practice

across all continuums in line with the company’s constitution. Specifically, the

two main projects, the GPSN and GP Compass, are directly aimed at promoting

General Practice as a preferred career choice to medical students and pre-

vocational doctors. A copy of the constitution is available from our website at

www.gpra.org.au

Indemnification of Directors and officers

During the financial year, the company paid a premium in respect of a contract

insuring the Directors of the company, the company secretary and all executive

officers of the company and any related body corporate against a liability

incurred as such a Director, secretary or executive officer to the extent

permitted by the corporations Act 2001. the contract of insurance prohibits the

disclosure of the nature of the liability and the amount of the premium.

Proceedings on behalf of the company

no person has applied to the court under section 237 of the corporation’s Act

2001 for leave to bring proceedings on behalf of the company, or to intervene

in any proceedings to which the company is a party, for the purpose of taking

responsibility on behalf of the company for all or part of those proceedings. no

proceedings have been brought or intervened in on behalf of the company with

leave of the court under section 237 of the corporations Act 2001.

Summary of significant accounting policies

General Practice Registrars Australia Ltd. (GPRA) is a public company limited by

guarantee and incorporated under the corporation’s Act 2001. no shares have

been issued. The limit of liability of each individual member is limited to $10. The

Company is a not-for-profit charitable organisation. The objects for which the

Company is established are:

1.Promoting the prevention or the control of diseases in human beings;

2.improving the healthcare of all Australians through excellence in education

such as conducting workshops to promote professional development;

3.Promoting the profession of General Practice in Australia;

4.Recognising and supporting the needs of General Practice Registrars in

Australia; and

5.to do all such other things as are incidental or conducive to the attainment

of the above objects.

Income tax

GPRA is endorsed as a Health Promotion Charity, and accesses the following tax

concessions:

Statement of compliance

The finance report is a general purpose financial report which has been

prepared in accordance with the Corporation’s Act 2001 and Australian

Accounting Standards. Australian Accounting Standards require a statement

of compliance with International Financial Reporting Standards (IFRSs) to

be made where the financial report complies with these standards. Some

Australian equivalents to IFRSs and other Australian Accounting Standards

contain requirements specific to not-for-profit entities that are inconsistent with

IFRS requirements. GPRA is not-for-profit and has applied these requirements,

so while this financial report complies with Australian Accounting Standards

including Australian Equivalents to International Financial Reporting Standards

(AEIFRSs) it cannot make this statement.

Basis of preparation

The financial report has been prepared on the basis of historical cost. GPRA

does not have any significant fixed assets to impact on the accounting reports.

The accounting policies set out below have been applied in preparing the

financial statements for the year ended 30 June 2009.

Tax Concessions From

GST Concession 1 July 2005

FBT Exemption 1 July 2005

Income Tax Exemption 23 February 2004

Deductible Gift Recipient 1 July 2005

31

Significant accounting judgements, estimates and assumptions

The Directors evaluate estimates and judgements included in the financial

report based on the best available historic and current information. estimates

and accounting assumptions assume a reasonable understanding of future events

based on current trends and economic data. There have been no significant

judgements, estimates or assumptions applied in the preparation of these

financial statements except where otherwise stated.

Changes in accounting policies

the accounting policies adopted in the preparation of this report are consistent

with the previous year except where otherwise stated. A specific restructure of

certain projects has been included in compliance with contractual arrangements

in relation to the delivery of these projects. As such income and expenses related

to these projects is now recorded separately in our accounts.

Goods and services tax

Revenues from ordinary activities, expenses from ordinary activities 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 Australian

Taxation Office (ATO). In these circumstances the GST is recognised as part

of the cost of acquisition of the asset or part of the item of the expenses from

ordinary activities.

Basis of Preparation of the Financial Statements

the statements have been prepared using the cash basis for accounting. Given

the volume of transactions it has been determined that using the cash basis does

not alter the true picture of the accounts presented.

1.1Current Assets

1.1.1 Cash On Hand

Cash and cash equivalents comprise cash at bank and in hand, stated at nominal

value. individual expense cards for student clubs represent unspent cash available

to individual clubs and have been included under current assets.

1.1.2 Accounts Receivable & Withholding Credits

Account receivables are recognised and carried at original invoice. No allowance

has been made for doubtful debts since at the time of preparation of this report

there was no reason to doubt successful recovery of these funds. Net amount of

GST recoverable is included under withholding credits.

1.2 Impairment of Assets

Assets are mainly cash or cash equivalents and are not liable for impairment.

1.3 Depreciation

Depreciation is calculated on a straight line basis so as to write off the net cost

of each item of property, plant and equipment over its expected useful life.

Computer equipment and furniture has already been depreciated and is no

longer recognised as an asset.

1.4 Fixed Assets

GPRA does not own any fixed assets in relation to land and buildings. Fixed

assets typically comprise of office equipment, computers and furniture.

Depreciation is provided on a straight line basis. Any accumulated depreciation

at the date of revaluation is eliminated against the gross carrying amount of

the asset and the net amount is restated to the remaining value of the asset. As

can be seen a number of these have been depreciated to zero in the current

financial year and will be removed from future statements.

1.5 Non Current Assets

GPRA does not recognise any good will or any other forms of intangibles in the

organisation’s accounting policies.

1.6 Current & Non Current Liabilities

current liabilities represent trade creditors, superannuation payments and

GST collected. GPRA does not have any borrowings or any other non-current

liabilities.

1.7 Income & Profit

the income includes revenue generated from operating activities, including

sponsorship and advertising and specific project funding received from the

Department of health and Ageing and General Practice education and training

(GPET). Cash flows from operating activities capture all types of income including

special project funding.

1.8 Expenses

expenses have been split as per cost centre. special provisions have been made

to separate the GPSN and GP Compass-related expenses in line with contract

reporting requirements with GPET. All income and expenses related to the

GPsn project have been recorded separately.

1.9 Leases

operating lease payments are expensed in the income statement as incurred.

1300 131 198enquiries@gpra.org.au www.gpra.org.au

GPRA/09AnnuAl RePoRtGeneRAl PRActice ReGistRARs AustRAliA