Annual Report

annual report 2010
The Society of Hospital Pharmacists of Australia

The Society of Hospital Pharmacists of Australia ABN 54 004 553 806
annual report 2010
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shpa contact details
Federal Secretariat Location: Suite 3, 65 Oxford Street, Collingwood Mail: PO Box 1774, Collingwood Victoria 3066, Australia Telephone Facsimile Email Website 61 3 9486 0177 61 3 9486 0311 shpa@shpa.org.au www.shpa.org.au
Publisher The Society of Hospital Pharmacists of Australia
ABN 54 004 553 806
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annual report 2010
contents
introduction to shpa membership report federal council from the president education and professional development advocacy workforce membership practice standards rural network research and development publications jppr shpa branches from the treasurer directors report information on directors financial report 4 5 6 7 8 9 9 9 9 12 12 13 13 14 17 18 19 20
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introduction to shpa
The Society of Hospital Pharmacists of Australia (SHPA) is the professional body which represents 2,500 pharmacists, pharmacy technicians and associates practising in all parts of the Australian health system. SHPA was established in 1941 following the pioneering efforts of 25 public hospital pharmacists in Victoria. From 1947 to 1964 other branches were developed. The inaugural meeting of the SHPA Federal Council and the first SHPA federal conference were held in Adelaide in 1961. SHPA has a long-standing commitment to the provision of pharmacy services in hospitals and to the professions role in ensuring optimal health outcomes for Australian consumers by the safe and effective use of medicines. Safe and effective medication use is the core business of pharmacists, especially in hospitals. SHPA is the only professional pharmacy organisation with an especially strong base of members practising in hospitals and other facilities. SHPA supports hospital pharmacy services to provide safe and effective medication use for consumers and advocacy to support members in delivering better health care and outcomes for consumers across the entire health system. SHPA supports policy development aimed at reducing duplication, improving efficiency and freeing up resources to improve service provision to consumers across all healthcare settings. What were once hospital services are now being delivered in a range of other settings and the changing nature of healthcare delivery is now also reflected in the diversity of SHPA membership. Whilst maintaining a strong public hospital base, SHPA draws members from a diverse range of pharmacy and health practice settings including public and private hospitals, community pharmacy, academia, research, industry, government, consultant pharmacy and a range of quality use of medicines projects, clinical governance and medicines management programs. Fundamental to the success of SHPA is the culture of cooperation and contribution that is reflected in the high level of membership involvement. A core value held by SHPA is the recognition of the commitment of the many volunteers throughout our membership whose efforts are noteworthy in so many national and branch level SHPA activities and member services.
the shpa vision is:
Excellence in medicines management through leading edge pharmacy practice and research
the shpa mission is:

Supporting the continuing professional development of our members
Having strong membership within hospitals and all other quality use of medicines settings Partnering with key medicines stakeholders Advocating for the safe and effective use of medicines across the continuum of care
the shpa values are:

Teamwork Integrity Recognition Respect Innovation
the strategic plan:

Le gis lat ion
EDUCATION
Co ns ti
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AC Y
PRACTICE
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& AWAR
AD VO C
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Leadership
Communication Revenue
S STANDARD
GRANTS
Other O
Fac External
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WORKFORCE
PU BL ICA TIO
SE RE AR CH
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Health Policy
ABN 54 004 553 806
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membership report to 30 June 2010

student member honorary life technician overseas inactive associate total %
ACT NSW VIC QLD SA/NT WA TAS O/SEAS TOTAL
8 63 45 39 48 58 9 0 270
49 442 581 471 213 156 49 2 1963
0 1 3 0 1 1 0 2 8
2 16 26 10 5 5 0 0 64
1 6 17 24 6 13 1 0 68
0 4 0 0 1 0 0 6 11
3 29 35 24 4 3 4 0 102
1 1 2 2 0 0 0 0 6
64 562 709 570 278 236 63 10 2492
2.6 22.6 28.5 22.9 11.2 9.5 2.5 0.4 100
membership by branch:
membership by type:
shpa federal secretariat

staff members (listed below as at 30 June 2010) play a critical role in providing member services and supporting SHPA activities from the national headquarters Yvonne Allinson Michael Tsui Anna Borg Della Absalom Vikki Gill Stacey McKay Vishal Naidu Karen OLeary Natalie Jenkins Nicki Burridge Suzanne Newman Danielle Deidun Sally Ridgers Benafsha Khariwala Marlene Cartlidge Chief Executive Officer Business Manager (part-time) Administrative Coordinator Assistant to Federal Secretariat (part-time) Assistant to Federal Secretariat Assistant to Federal Secretariat Finance Clerk Policy and Projects Manager (part-time) Professional Development Coordinator (part-time) Publications Coordinator (part-time) Communications Coordinator (part-time) Publications Pharmacist (part time) Sponsorship and Conference Manager (part-time) Managing Editor, Journal of Pharmacy Practice and Research (part-time) Assistant to Managing Editor, Journal of Pharmacy Practice and Research (part-time)
SHPA farewelled Bill Thomson who retired after nearly five years as Secretariat Manager. Bills memorable contribution supported SHPAs development and the expansion of many member services including education, advocacy, and liaison with other professional bodies. Madelene OHalloran, a long-standing SHPA administrative assistant also retired during 2009. During Madelenes time at SHPA her role included all areas of member services, and more recently focussed on supporting SHPA members applying for Research and Development Grants. We wish Bill and Madelene well in their retirements.
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shpa federal councillors

shpa executive councillors
Neil J Keen
members of federal council as at 30 June 2010
Federal President, Past Federal Vice President Councillor 1999-2006 (WA) and from 2007 (ACT) Director of Pharmacy, The Canberra Hospital, ACT
Amber L Roberts
Federal Vice-President Councillor from 2005 (TAS) State-wide Medication Coordinator, Care Reform, Department of Health and Human Services, TAS
Suzanne W Kirsa
Federal Treasurer Councillor from 2009 (VIC) Director of Pharmacy, Peter MacCallum Cancer Centre
Megan F Middleton
4th Executive Member Councillor from February 2008 (VIC) Deputy Director of Pharmacy Eastern Health
(Medicines
Evaluation)
shpa councillors
Ian D Coombes
Councillor from 2009 (QLD) A/Director, Safe Medication Management Unit, Qld
Sharon J Goldsworthy
Councillor from 2005 (SA & NT) Manager Pharmacy Services, The Queen Elizabeth Hospital
Anthony D Hall
Councillor from 2004 (QLD) Senior Lecturer, School of Pharmacy, Griffith University, Gold Coast Campus
Karen I Kaye
Councillor from 2007 (NSW) Executive Manager, QUM Programs and Deputy CEO, National Prescribing Service
Helen A Lovitt-Raison
Councillor from 2007 (WA) Project Officer, Pharmacy Department, Fremantle Hospital & Health Service, Chair of WA Medication Safety Group
Rebekah J Moles
Councillor from 2003 (NSW) Lecturer, The University of Sydney, NSW
thanks from all members to former councillor

SHPA gratefully recognises and acknowledges the contribution of Councillor Christine Kemp from Victoria who filled a casual vacancy from February - November 2009.
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from the president

Over the past year SHPA has continued its great work providing services and advocacy to support members in delivering better health care and outcomes for consumers. This work is only possible through the significant contribution of the many members who volunteer their time and effort to activities on Federal Council, branch committees, conference committees, COSPs, special interest and reference groups, Research and Development Grants Advisory Committee, and so on. The SHPA secretariat staff is also to be commended on another productive year supporting SHPA members and enhancing member services. In preparation for the July 2010 commencement of the National Health Registration Scheme, SHPA has continued its focus on shpacpd. This now provides a comprehensive professional education and development framework that assists members meet the new Pharmacy Board of Australia re-registration requirements. SHPA has appointed a Professional Development Coordinator pharmacist to further develop this core member service. A major recent development has been the shpacpd online recording system, which went live in May 2010. Members can now easily maintain records of their CPD goals, completed education events and development activities in one convenient electronic location. The system allows members to produce a CPD report suitable for submission to the Pharmacy Board at re-registration. Membership feedback tells us CPD opportunities like the CE on CD, JPPR and CPD Online are still highly valued member benefits. CPD Online provides ready access via the SHPA website to Group 2 CPD activities that improve knowledge with formal assessment. During 2009/10 multiple choice assessment questions were available for 25 JPPR articles, 25 presentations from CE on CD disks, 67 presentations from clinical seminars and branch symposia and 6 issues of the Australian Journal of Pharmacy. This amounts to a staggering total of 110 separate assessment opportunities available online for members. Even more impressive is that members completed more than 3000 of these Group 2 CPD activity assessments. The wide range and variety of educational activities offered by SHPA continues to grow to keep pace with the increasing number of members participating in shpacpd activities. In an important strategic decision linked to existing education plans, SHPA council endorsed the development of an SHPA Clinical Competency Assessment Tool. Termed shpaclinCAT, this project is well underway and will provide a national tool to support pharmacists development of clinical and professional skills. The driver for this work is the increasing numbers of pharmacists being employed in Australian hospitals and the need to support and nurture the development of their clinical pharmacy skills. The 35th SHPA National Medicines Management Conference Across the Divide was held in Perth in November 2009. The conference committee, chaired by Stephen Lim, convened a very successful conference that received 808 delegates. Susan Parry ably assisted in the coordination of an intriguing and eclectic scientific program, which also hosted 80 contributed papers and 216 posters. SHPA continues to advocate on members behalf on important issues with profession-wide implications, such as the 5th Community Pharmacy Agreement (5CPA), the Australian Government national health reform agenda, PBS chemotherapy funding arrangements and e-health, just to name a few. In the course of this work SHPA has been successful in ensuring that the role of pharmacists is recognised and considered as vital to the Australian health care system. SHPA has secured a voice in many key national forums and expects input on aspects of administration of the 5CPA via the planned new governance body. SHPA has for many years recognised the importance of pharmacy technicians to pharmacy practice, having previously invited technicians into the membership of SHPA. In a progressive move that responds to representations of the technician members themselves SHPA Federal Council endorsed the formation of a National Pharmacy Technician Network. Chaired by Becky Walsh, the Network will work on themes relating to education, communication and professional development. The SHPA website continues to expand the range tools and resources on offer to members. In addition to the new online shpacpd features mentioned already, for the first time this year archived issues of the JPPR are now available for member access. An exciting new resource sharing section of the website has also been created as a valuable platform for members to share locally developed workplace tools and resources for the wider benefit of fellow SHPA members. Congratulations go to the deserving recipients of SHPAs major awards: Dr Ian Coombes for the Glaxo SmithKline Medal of Merit and Garth Birdsey for the Australian Clinical Pharmacy Award. Finally I would like to acknowledge the contribution of Christine Kemp to the work of SHPA in her role as a Federal Council member, which concluded in November.
NEIL KEEN Federal President
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education and professional development

shpacpd has remained a focus of 2009/10. With the introduction of national registration and the Pharmacy Board of Australias CPD requirements for re-registration, SHPA focused on developing and fine tuning a simple scheme that assists pharmacists in reviewing their CPD requirements. SHPA provides a wide range of CPD activities that will help pharmacists meet their learning needs, and offers a simple online mechanism to document their CPD participation and produce a record suitable for submission to the PBA. In addition, SHPA formally accredited 87 programs for CPD. CPD Online continues to grow. During 2009/10 110 sets of multiple choice questions (MCQs) were developed and made available in the CPD Online section of the shpacpd website; 3000 sets of completed MCQs were submitted online.
The Education Reference Group comprises Councillor Rebekah Moles (Chair), Supporting Councillor Ian Coombes, Chris Alderman, Chris Doecke, Jeff Hughes, Neil Cottrell and Rohan Elliott.
developing and maintaining the skills and competencies of pharmacists
CE on CD: disks 9 and 10 were released during 2009/10 providing members with a choice of 36 presentations to view at their computer at their preferred time. The first phase of the development of SHPAs Clinical Pharmacy Competency Assessment Tool (shpaclinCAT) was completed at the end of April 2010. A reference group was formed to oversee the development of this tool which will comprise a self-assessment and workplace-assessment format for ease of use. A comprehensive training package for pharmacists seeking to assist the professional development of their colleagues by becoming workplace evaluators will also be developed. Whilst the tool will be of great benefit to support and encourage pharmacists working in wards or patient care areas, many sections of the tool will be equally of value to pharmacists working in other areas. SHPA gratefully acknowledges the shpaclinCAT Reference Group members: Neil Keen (ACT), Miriam Lawrence (ACT), Rohan Elliott (Vic), Duncan McKenzie (Tas), Susan Parry (WA), Debra Rowett (SA & NT), Andy Lo (Qld), David Maxwell (NSW TAG), Anne Leversha (Rural Australia), Kirstie Galbraith (Monash University), Peter Barclay (NSW) and the project officers Lynda Cardiff and Karen Bettenay. The SHPA Medicines Management Conference Across the Divide was held in Perth, November 2009. The conference was a great success; 808 delegates attended and 216 posters and 80 contributed papers were presented. The conference committee, led by Stephen Lim (chair), did an exceptional job and comprised Susan Parry (program manager), Jasmine Beaman, Paula Caird, Jane Carpenter, Michelle Fall, Mariana De Sousa, Archana Haria, Sarah Heward, Claire Jenner, Regina Law, Helen Lovitt-Raison, Dr Julie McMorrow, Katherine Travers and Vincent Wong. SHPA Clinical Pharmacy Seminars Nine seminars were convened by SHPA during 2009/10 and proved very popular with a combined total of more than 650 registrants; many were fully booked within weeks of registration opening. SHPA gratefully acknowledges PDL for their support and sponsorship of the clinical seminars. Many thanks to the teams who conducted these seminars: Seminar in Oncology Introductory, July 2009 Melbourne: Julie Wilkes, Melanie Poorun, Scott McGregor, Geoffrey Grima, Wendy Ho, Gail Rowan, Julie Sanders Seminar in Critical Care Advanced, July/August 2009 Sydney: Annie Egan, Dianne Milne, Steven Fowler, Dennis Leung, Robyn Ingram, Rachael Worthington, Bianca Levkovich, Lisa Ho, Julie Arena, Maria Chan, Jason Roberts, Ren Lau Seminar in Advanced Clinical Pharmacy Practice, August 2009 Melbourne: Jeff Hughes, Neil Cottrell, Sharon Goldsworthy Introductory Seminar in Clinical Pharmacy Practice, February 2010 Sydney: Lisa Pont, Jeff Hughes, Neil Cottrell, Sharon Goldsworthy Seminar in Laboratory Tests, March 2010 Adelaide: Jeff Hughes, Bhavini Patel, Neil Cottrell Seminar in Advanced Clinical Pharmacy Practice, May 2010 Darwin: Jeff Hughes, Bhavini Patel, Neil Cottrell Seminar in Oncology Introductory, May 2010 Melbourne: Julie Wilkes, Melanie Poorun, Scott McGregor, Geoffrey Grima, Wendy Ho, Gail Rowan, Julie Sanders Seminar in Clinical Haematology Advanced, May 2010: Melbourne: Julie Wilkes, Helen Leather, Hong Yen Ng, Tracy Shield Introductory Seminar in Clinical Pharmacy Practice, June 2010 Brisbane: Neil Cottrell, Ian Coombes, Karen Bettenay, Michael Barras, Lisa Pont, Jo Sturtevant, Karl Winckel
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advocacy
increasing the understanding of the role of the pharmacist in patient care
The primary focus of SHPA is the support of hospital pharmacy in its core business of providing safe and effective medication for consumers at all stages in the medication management pathway especially at transition points along the continuum of care. SHPA strongly supports policy development aimed at reducing duplication, improving efficiency and freeing up resources to improve service provision to consumers across all healthcare settings. Advocating on members behalf, SHPA has maintained regular contact with the Health Ministers office and Department of Health and Aging officers regarding the 5th Community Pharmacy Agreement (5CPA), proposed health reforms and other matters. Examples of SHPA advocacy during 2009/10 have included diverse activities such as: numerous communications about health reform, the National Health and Hospitals Network, Closing the Gap, the integration of pharmacy services, Section 94 private hospital pharmacy changes resulting from the 5CPA, Council of Australian Governments reforms relating to health and hospitals, calling for profession-wide response to health reforms; numerous submissions to the Pharmacy Board of Australia; and in collaboration with cancer patient groups and other pharmacy and healthcare organisations, successfully lobbying the Minster for Health regarding proposed changes to the funding of chemotherapy treatment. working as a member of Allied Health Professions Australia (AHPA) and the National Primary Health Care Partnership (NPHCP)
workforce
While the shortage of pharmacists has reduced, it remains an issue for rural and remote areas and the issue of attracting and retaining suitably qualified and experienced pharmacists in the hospital sector persists across the board. The webbased SHPA Job Register continues to offer a value for money means of advertising hospital-based pharmacist and technician jobs. The SHPA Job Register increases the number of applicants for jobs and many positions are filled directly as a result of the SHPA Job Register. Jobs that are difficult to fill are able to be advertised for a lengthy period without additional expense.
membership
A priority of SHPA is to provide value to members. Developments in member services in 2009/10 include: online CPD recording; more Group 2 CPD activities in CPD Online to enable choice for members to achieve the PBA re-registration requirements; and expanded website to include access to past issues of JPPR and a platform for members to share resources.
The maintenance of practice standards is integral to the achievement of the SHPA vision. The Specialty Practice Reference Group (SPRG) reviews the operations and performance of the Commitees of Specialty Practice (COSPs), oversees the development and maintenance of SHPA practice standards, oversees production of statements by COSPs, encourages the development of a pool of expertise that is available to comment on issues of relevance to hospital pharmacy, encourages and supports the development of specialist educational initiatives by the COSPs, provides advice to Federal Council on formation of or disbanding of COSPs and coordinates (and rotates) the annual pre-conference workshops between COSPs. Specialty Practice Reference Group: Councillor Anthony Hall (Chair), Supporting Councillor Ian Coombes and chairs of all COSPs. The standards currently under review and or preparation by COSPs include: Clinical Pharmacy, Provision of Clinical Oncology Pharmacy Services, Safe Handling of Cytotoxic Drugs in Pharmacy Departments and Drug Information Services. Standards of Practice are published in the JPPR and may be found on the SHPA website. SHPA sincerely acknowledges the contribution of the following COSP members (current as at 30 June 2010) to important SHPA activities. Clinical Pharmacy: George Taylor (Chair), Neil Keen (Convenor), Michael Connolly, Amber Roberts, Suzette Seaton, Cameron Randall, Sharon Gordon-Croal, Chris Archer, Amy McKenzie, Duncan McKenzie, Peter Fowler, Catherine Drake, Camille Boland, Michael Dooley, Karen OLeary, Nicki Burridge Outcomes for 2009/10: During 2009 and 2010 the major focus of the COSP was to review the current SHPA Guidelines. The July planning day was a very useful exercise which resulted in a plan to develop a revised format for the guidelines. Between meetings, members have developed short summary statements of clinical activities which will appendix the main document. It is intended that these How To summaries will provide a quick check list for practitioners. Reformatting the 2005 Guidelines is also being undertaken.
practice standards
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Cancer Services: Julie Wilkes (Chair), Sue Kirsa (Convenor), Michael Cain (WA member), Tandy-Sue Copeland (WA member), Scott McGregor (WA member), Philip Roberts (WA member), Melanie Poorun (WA member). Members from other states (including corresponding members and technician members): Alida Turnball (Vic), Amy Allen (ACT), Diane Davies (NSW), Fotios Ambados (NSW), Geeta Sandhu (Qld), Geoffrey Grima (Qld), Joan Semmler (Qld), Karen Chiang Sui Hung (ACT), Maria Larizza (Vic), Maggie Chau (Vic), Shaun OConnor (Vic), Peter Gilbar (QLD), Jim Siderov (Vic), Wendy Ho (NSW), Sandy Scholes (Vic). Ex-officio: Tien Yen Yee (WA), Debbie Bajrovic (WA), Nikki Briegel (WA) Paediatrics Outcomes for 2009/10: convened Introductory Seminars in Oncology Pharmacy in July 2009 and May 2010 in Melbourne, Advanced Clinical Haematology Seminar in May 2010, in Melbourne, and Pre-Conference Study Day prior to the SHPA National Conference Perth, 2009; developed self-assessment questions for Introductory Seminar in Oncology Pharmacy, Advanced Clinical Haematology Seminar and SHPA Pre-Conference Study Day 2009; planned for Pre-Conference Study Day prior to the SHPA National Conference Melbourne, 2010. Critical Care: Dennis Leung (Chair, NSW), Anthony Hall (Convenor), Dianne Milne, Steven Fowler, Niann Ren Lau, Annette Egan, Dr Julie McMorrow, Robyn Ingram, Bianca Levkovich, Jason Roberts Outcomes for 2009/10: convened Critical Care Seminar Advanced July/August 2009; developed PICU/NICU program into the advanced seminar; developed self-assessment questions for advanced seminar; planned 2010 Seminar; facilitated multicentre research project with critical care pharmacists; continued email discussion group to 1) provide assistance to COSP members with clinical questions and 2) facilitate professional development, particularly for newer members or those in smaller hospitals. Educational Visiting: Debra Rowett (Chair), Judy Burrows, Joy Gailer, Gwen Higgins, Margaret Jordan, Karen Luetsch, David Maxwell, Frank May, Jenny Pink, Lisa Pulver, Cathy Prest, Sharon Goldsworthy and Karen Kaye (Convenor) Outcomes for 2009/10: Continuing activity has occurred with respect to academic detailing/educational visiting in the hospital setting. The program of training and workshops related to the NPS DUE project provided an opportunity to continually build on the experience and inform frameworks for quality assurance and competency standards in this area of hospital pharmacy practice. This work has now concluded and will be used by the COSP to develop competency standards and also explore an advanced scope of practice model. A training program specifically for hospital pharmacists was developed following the COSP workshop in collaboration with Directors of Pharmacy to ensure that the training could be integrated into current work schedules and with an emphasis on interprofessional communication. This more flexible model of training was undertaken at The Queen Elizabeth Hospital Pharmacy Department in December 2009. The model of training is being explored for broader delivery of training workshops. The content for this workshop focused on the PBS reform processes. The COSP continues to develop Standards of Practice for all stages from development of academic detailing programs, training requirements, delivery and implementation together with a governance framework which assures high standards are maintained. Increasing awareness of the principles of academic detailing as an evidence-based intervention to deliver complex key messages to doctors, nurses and pharmacists along the continuum of care has continued with workshops for aged-care staff involving delivery of services to nurses and care staff. Emergency Medicine: Susan Welch (Chair), Simone Taylor, Linda Graudins, Shin Choo, Andrew Harding, Claire Whittle, Dona Buchan, Elizabeth Donegan, Elizabeth Doran, Leonie Abbott, Melanie Morrow, Sarah Heward, Ian Coombes (Convenor). Currently 122 pharmacists on email contact list. Outcomes for 2009/10: Planning underway for Emergency Medicine (EM) seminar 2010 Sydney, August 2010. Continued email discussion forum and received requests from new EM pharmacists to join. New website under construction. Continued collection of available business cases for EM pharmacist positions. Ongoing communications with The Emergency Pharmacist Research Center www.emergencypharmacist.org. Initiated multi-centre research project to investigate Accuracy of medication histories documented on general practitioner letters for patients presenting to the emergency department. Results were presented at SHPA Conference, Perth 2009 and ACEM conference Nov 2009. Currently being compiled for publication. Ongoing negotiations with CIAP/Toxinz toxicology database to endeavour to gain access across Australia. EM pharmacy publication list on SHPA website - updating process is in place to facilitate annual update. Feedback from successful DBL Young Pharmacists Award application for EM pharmacist preceptorship (1 month) University Medical Centre (UMC), Arizona with Mr D. Hayes, to be included in EM Seminar 2010. Representation on NSW DOH working party Medication Reconciliation in the Emergency Department. Representation on Australian Commission on Safety and Quality in Health Care: Medication Continuity Expert Advisory Group. Ongoing liaison with SHPA Research and Development Grants committee to setup and offer an EMP grant. Work commenced by Qld to develop Advanced Level Competency Framework for Emergency Medicine Pharmacists.
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Infectious Diseases: David Kong (Vic, Chair), Vaughn Eaton (SA & NT), Carol Smith (SA & NT), Matthew Rawlins (WA), Russell Levy (NSW), Evette Buono (NSW), Jason Roberts (Qld), Sharmila Khumra (Vic), Sean Unwin (Qld), Duncan McKenzie (Tas), Breigh Ridley (WA), Megan Middleton (Convenor) Outcomes for 2009/10: co-organised the Pharmacy Workshop at the Feb 2010 Australian Society for Antimicrobials Annual Scientific Conference. Planning for the Pharmacy Workshop at the Feb 2011 Australian Society for Antimicrobials Annual Scientific Conference. Conducted a half-day Infectious Diseases seminar as part of the 35th SHPA National Conference pre-conference seminars. Teleconference and email discussions to plan activities for the next 12 months. Represented of SHPA at the Australian Commission on Safety and Quality in Health Care Antimicrobial Stewardship Advisory Committee. Various members of the COSP were guest speakers at selected conferences (e.g. the Feb 2010 ASA Annual Scientific Conference, the half-day Infectious Diseases seminar in Perth). Preliminary work related to developing a full-day or 2-day Infectious Diseases seminar for pharmacists is in progress. The COSP was consulted about the course content for two 6-credit point education modules on Infectious Diseases to be offered by Monash University and its partners. Supporting the planning and nomination of potential speakers for the upcoming 36th SHPA National Conference, and the Victorian branch meeting. Investigational Drugs: Carol Rice (Chair), Kay Hynes, Helen Lovitt (Convenor), Jill Davis, Helen Kopp, Claire Vosk, Eugenie Hong, Anne Mak, Michael Ching, Paula Lee, Peter Slobodian, (corresponding member) Naomi Lillywhite (corresponding member) Outcomes for 2009/10: Liaison with TGA and Association of Regulatory & Clinical Scientists (ARCS): COSP members are associate members of ARCS and attended ARCS seminars. Clinical Trials Starter Kit: A web-based Clinical Trials Starter Kit providing relevant resources, FAQs, SOPs etc. was uploaded onto the SHPA website in November 2009 and launched at the annual conference. Breakfast meeting during SHPA annual conference in 2009: A short breakfast meeting was held during the conference to enable liaison between clinical trial pharmacists. Four short presentations were given on trial-related subjects by COSP members. Liaison with Medication Management Group (MMAG):The MMAG sought recommendations for the naming of trial medications for the HealthSmart project. The COSP presented their recommendations to the MMAG Medication Safety: Melita Van De Vreede, Kent Garrett, Ian Coombes, Helen Lovitt, Chris Doecke, Elizabeth Anderson, Bhavini Patel, Helen Leach, Naomi Burgess, Michelle Paine, Suzette Seaton, Penny Thornton, Diane Reeves, Linda Graudins, Anne McGrath, Jennifer Macdonald, Olivia Kay, Anthony Hall (Convenor), Rosemary Burke (Chair) Outcomes for 2009/10: Medication Safety Briefs for JPPR, Medication Safety Seminar - planning for 2010 Medication Safety pre-conference seminar: Medication Safety from the Coalface Medicines Information (formerly Drug Information): Julie Lord (Chair) , Graeme Vernon (Secretary), Rodney Whyte, Cheng Choo, Louise Grannell, Christine Plover, Gedal Basman, Elizabeth Anderson, Morna Falkland, Judith Longworth, Leone Snowden, Geraldine Moses, Glen Bayer, Sharon Goldsworthy (Convenor). Outcomes for 2009/10: SHPA Drug Information Procedure manual: continued work on 2nd edition, liaised with SHPA Publications Reference Group and Federal Secretariat regarding preferred distribution method(s). Reference for crushing medications: provided assistance in recruitment of monograph reviewers. Adaptation/development of an Australian Drug Information Training Workbook: assistance provided by the COSP and SHPA secretariat as required; particular acknowledgement should be given to Elizabeth Anderson for her significant contribution to this project. Updating SHPA website listings of contact details for Drug Information/Medicines Information Centres. Expansion of web-based drug information email discussion group (hosted by Yahoo groups - druginfo_austnz ) promoted through SHPA bulletins. International liaison (IRDIS) - IRDIS coordinated by Graeme Vernon, Austin Health - details provided to SHPA for updating on the website. Mental Health: Christine Culhane (Chair), Megan Middleton (Convenor), Abdul Adra, Judith Longworth, Julia Mckay, Natasa Gisev, Nga Tran (corresponding), Saira Mould, Timothy Chen, Tanya Foyle, Alice Kochman, Anita Albarno, Annabel Chong, Carole Ramsay, Chris Alderman, Denise McConnell, Donna Blumgren, Fiona Kearney, Jennifer Carroll, Julie Holznagel, Karen Samuel (corresponding), Kate Roper, Marian Pasere, Selina Leung, Rowena Jones, Diane Walters (corresponding), Cecilia Bjorsten, Susan Melbourne Outcomes for 2009/10: Review of Practice Standards in progress. Set up email network for pharmacists working in mental health areas in progress; setup and invitations to join to go out Paediatrics: Sean Turner (Chair), Paul Tait, Sonya Stacey, Rachel Worthington, Antun Bogovic, Linda Graudins, Lewis Bint, Ian Coombes (Convenor). Outcomes for 2009/10: Paediatric COSP meeting prior to National Conference, Perth, November 2009. Meeting in Brisbane with Sonya Stacey, Queensland Health for the further development of Advanced Level Framework for Paediatrics and associated educational material. Continued to provide an avenue for communication via PaedPharm paediatric email group. Under the leadership of Sonya Stacey the COSP has continued to have input into the development of a competency framework for paediatrics. The Society of Hospital Pharmacists of Australia ABN 54 004 553 806
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rural network
The SHPA national rural adviser is Anne Leversha. Her role is to provide Federal Council with advice on rural issues that affect hospital pharmacy, to represent rural hospital pharmacy at appropriate forums, and to promote rural hospital pharmacy and coordinate a network of rural hospital pharmacists. In December, we lost one of our most committed members Karen Clark. Karen died from breast cancer after a courageous battle. Karen represented South Australia on our network from 2004 until her death. Karens enthusiasm and commitment to pharmacy is missed by us all. The Rural Network has representatives from the states/territories. Membership of the network as at 30 May 2010 consists of Anne Leversha (Chair), Frank Andinach (WA), Kieran Behan (NT), Robert Forsythe (Qld), Ian Mawbey (NSW), Chris Turner (Vic), Suzette Seaton (Tas) and Philip Selby (SA). All members also have proxy representatives to ensure continuing representation for their sector. Contact your state/territory representative with ideas on how your Rural Network can work for you! The group meets three times a year by teleconference, and all SHPA members can keep up to date by reading the minutes which are posted on the SHPA website. Branch Committees are strengthening links with the state/territory rural representatives, and all rural pharmacists are encouraged to provide feedback on rural issues to the state representative, or to the federal adviser. The network held a successful meeting at the National Conference in Perth.
research and development

The Research and Development Grants Program fosters pharmacy practice by providing financial grants to SHPA members for undertaking research and/or professional development. The Program is administered by the Research and Development Grants Advisory Committee (RDGAC) which is currently based in South Australia. Members include Anna McClure (Chair), Sharon Goldsworthy (Convenor), Greg Roberts, Joy Gailer and Sepehr Shakib. The Committee is grateful to Della Absalom from the SHPA Federal Secretariat and to former SHPA staff, Madelene OHalloran and Bill Thomson for their administration assistance of the Program, and to Manya Angley, who was a member of RDGAC during the past year.
Grants Awarded during 2009 / 2010
Total Value
No. of Recipients
Not awarded in 2009 2 4 1 1 4 2 Not awarded in 2009 1 1
Baxter NW Naismith Leadership Grant EBEWE Pharma Oncology Pharmacy Grants - Carly Wills, May Chin HOSPIRA DBL Development Fund 2010 - Karen Whitfield, Peter Fowler, Paul Tait, Anthony Hall, Natasa Gisev, Susan Welch HOSPIRA DBL Young Pharmacist Award - Esther Chan Janssen-Cilag Specialist Renal Pharmacist Grant - Tasma Wagner Merck Sharp & Dohme Pharmacy Postgraduate Study Grant - Jared Brown, Amy Allen, Chastina Anderson, Lisa Ho Pfizer Pharmacy Grant - Felicity Wright, Kathryn Mackie Pharmatel Fresenius Kabi Grant Roche Research Grant on Quality and Safety - Daniel Lalor Sanofi-aventis Pamela Nieman Continuum of Care Research Grant - Ruth Chieng
$10,000 $10,000 $33,500 $10,000 $4,350 $16,000 $10,000 $10,000 $10,000 $10,000
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publications
facilitating professional development through quality publications

Members of the Publications Reference Group at 30 June 2010 are: Sharon Goldsworthy (Chair), Amber Roberts (Supporting Councillor) and SHPA staff Nicki Burridge and Danielle Deidun. During 2009/10 sales of the 4th Edition of the Australian Injectable Drugs Handbook (AIDH) continued well. The revised electronic version of the AIDH continued to be marketed by Health Communications Network Ltd to health departments and other interested healthcare organisations. Amended and new monographs are able to be downloaded from the SHPA website. The Medicines Information Committee of Specialty Practice is working on the production of the 2nd edition of the Australian Drug Information Procedure Manual. The National Medicines Information Training Manual is being developed by the dedicated NSW Branch group and a pilot version is being trialled. Once completed, this manual will be available as a training tool on the SHPA website. A guide for administration of medicines for patients with swallowing difficulties or with enteral feeding tubes is being developed for publication late in 2010. There has been enormous support from members of the pharmacy, nursing, dietetics and speech pathology professions who have contributed to writing and editing.
Australian Injectable
DRUGS
Handbook
Fourth Edition
journal of pharmacy practice and research

The Journal of Pharmacy Practice and Research supports the development of hospital pharmacy practice by providing a forum for the exchange of knowledge, ideas and professional opinion for all stakeholders. Published quarterly, the Journal is highly valued by SHPA members, is a source of CPD material and features editorials, research, pharmacy practice and review articles, case reports, practice standard guidelines, letters and book reviews. Managing Editor, Benafsha Khariwala coordinates production of the Journal together with input from the Associate Editors, Manya Angley, Rhonda Clifford, Neil Cottrell and Andrew McLachlan; Specialist Section Editors, Vaughn Eaton (DrugScan) and Penny Thornton (Medication Safety); Editor, Professor Jo-anne Brien; and Administrative Assistant, Marlene Cartlidge. The Geriatric Therapeutics articles would not be possible without the team consisting of Associate Professor Michael Woodward, Dr Stephen Campbell, Rohan Elliott, Francine Tanner, Robyn Saunders and Graeme Vernon. Their commitment to the area of geriatric therapeutics with their honorary work is much appreciated and acknowledged. The Journal would like to thank Terry Maunsell (September 2007 to December 2009) and Helen Matthews (June 2007 to December 2009) for their support of the Journal as Advertising Managers. The Journal and SHPA have adopted a new approach and have discontinued the formal Advertising Manager roles and incorporated these into SHPA industry liaison activities. Thanks to all those who support the Journal, especially contributors of original research and pharmacy practice articles and their mentors who encourage and support them to develop and submit their work.
ABN 54 004 553 806
annual report 2010
page 13
shpa branches
ACT BRANCH..ACT BRANCH..ACT BRANCH..ACT BRANCH..ACT BRANCH..ACT BRANCH.. ACT Branch committee members: Natalie Bula (Chair), Joanne Wilson (Vice-Chair), Sheridan Price (Secretary), Liisa Nurmi (Treasurer), Jessica Parker (Minutes Secretary), Miriam Lawrence (CE Coordinator), Neil Keen (Federal Councillor), Catherine Murphy, Emily Diprose, Karlee Johnston Advocacy, workforce and membership activities: ACT Branch members represent both major hospitals in Canberra, and also the University of Canberra Pharmacy School. A high percentage of ACT hospital pharmacists and those working in related fields are SHPA members which demonstrates the high regard for SHPA membership within the ACT. The Branch continued its strong relationship with University of Canberra Pharmacy School in 2009/2010, participating in presentations to students, and awarding of the annual SHPA Student QUM Prize to 2nd year student Liane WardPanckhurst. The ACT Branch was represented in many SHPA federal forums, including on the ClinCAT project. The Branch awarded $250 prizes to financially assist members presenting at the Perth 2009 Federal Conference: Across The Divide. Advocacy was continued via liaison with the following bodies: University of Canberra School of Pharmacy ACT Pharmacy Board Pharmaceutical Society of Australia (ACT) Educational activities: The annual ACT Branch Symposium was held in September 2009 focusing on infusion issues such as lines, fluids and pumps. Other successful monthly CE topics included pharmacy automation and robotics, corrections health, medications in pregnancy and lactation, neonatology, Parkinsons disease, veterinary pharmacy, and walk-in centres. In June 2010, we trialled using wireless technology to provide instantaneous feedback on CPD questions from the CE event. This approach may increase member value derived from future CE activities. Special thanks goes to: Andrew Brown and Prisca Chen who resigned or finished their terms of office at the end 2009. Your contribution to the ACT Branch has been highly valued. Special mention to Andrew Matthews who retired from the ACT Branch Committee at the end of 2009 after more than 15 years of committed service to the ACT Branch, Federal SHPA and the pharmacy profession. Thank you Andrew for your leadership and mentorship to so many ACT Branch members. NSW BRANCH..NSW BRANCH..NSW BRANCH..NSW BRANCH..NSW BRANCH..NSW BRANCH NSW Branch committee members: Peter Barclay (Chair), Jenny Crane (Vice-Chair), Claire McCormack (Secretary/ITP representative), Kerry Davison (Minutes Secretary), Sasha Bennett (Treasurer), Natalie Tasker (Education Co-ordinator), Ken Kwong (Newsletter), Karen Kaye (Federal Councillor), Rebekah Moles (Federal Councillor), Helen Dowling, Kate Oliver, Becky Walsh (Technician Observer), Megan Richardson (Intern Observer), Sarah Sinclair, Katherine Lawrence (Student Observers) Advocacy, workforce and membership activities: Since November 2009, members of the SHPA NSW committee have been collaborating with NSW Health as part of the Clinical Pharmacy Model Working Group to address recommendations made by the Garling Report. The aim is to develop a patient-focussed model of clinical pharmacy to describe the services and processes that need to be adopted by pharmacists, pharmacy support staff and primary care clinicians to ensure hospital patients receive optimal pharmaceutical care from the point of admission into the hospital system, through to discharge back into primary care. The group, co-chaired by SHPA NSW Branch Member Helen Dowling, has been working hard through a series of regular teleconferences and meetings with NSW Health and stakeholders to explore these issues. The NSW Branch technician observer Becky Walsh has been busy coordinating the formation of the National Pharmacy Technician Network supported and facilitated through the Branch committee and writing regular technician sections Spotlight on technicians in the NSW Branch newsletters. NSW Branch continued sponsorship of student prizes for 2009/10 at Sydney, Newcastle and Charles Sturt Universities for best performance in Pharmacotherapeutics subjects for BPharm and MPharm courses. Congratulations to NSW Branch Member Susie Welch who was awarded the Australian Clinical Pharmacy Award for 2009. The NSW Branch newsletter continued to be a valuable communication tool for all NSW SHPA members. Advocacy was continued via liaison with the following bodies: Pharmacy Board of NSW University of Sydney Pharmaceutical Society of Australia (NSW branch) Newcastle University Intern Training Program (ITP) Committee Charles Sturt University Pharmacy Practice Foundation Medication Reconciliation in the Emergency Directors of Pharmacy of NSW Teaching Hospitals Department Working Group. Allied Health Alliance Faculty of Pharmacy Alumni, University of Sydney NSW Health: The Area Pharmacy Advisors Group Rural Pharmacy Working Group Statewide Medication Safety Committee Greater Metropolitan Clinical Taskforce Educational activities: Monthly education sessions continue to be held at Harold Park in Sydney. Rural education sessions were also held In Newcastle and videoconferenced to a number of sites including Tamworth, Orange, Broken Hill, Lismore and Tweed Heads. The branch is also organising its third Winter Symposium to be held in July 2010 with a focus on Diabetes. Past symposiums have been a great success and we look forward to continued support from members this year. Other activities have included continued collaboration with PSA to organise the Pathology and Medication Management education stream at the Pharmacy Expo. The Branch has also continued to be involved in educational programs for the Intern Training Program (ITP). Special thanks go to: David Maxwell, a past NSW Branch chair, for his tireless work for SHPA, tremendous pharmacy advocacy and contribution to significant changes made to hospital pharmacy in NSW. Also thank you to Jared Brown for his years of hard work and service to NSW Branch Education Subcommittee. Thank you also to recent student observers Julie Tran and Anjana Rao for their important contribution on student issues. QLD BRANCH..QLD BRANCH..QLD BRANCH..QLD BRANCH..QLD BRANCH..QLD BRANCH.. Qld Branch committee members: Jason Roberts (Chair), Arna Neilson/Heidi Wong (Vice-Chairs), Lee Allam (Secretary), Frances Golding (Treasurer), Jaana Baker, Andy Lo, Jessica Toleman, Noleen Nath (CE Officers), John Parke (Minutes Secretary), Nina Latinovic, (Newsletter), Joan Semmler (Pharmacy Technician Representative), Tony Hall, Ian Coombes (Federal Councillors), Liz Hayward (Rural representative), Jill Upton (Intern Pharmacist representative).
ABN 54 004 553 806
annual report 2010
page 14
Advocacy, workforce and membership activities: We have sought to continue the strong gains made in recent years with a high quality infrastructure for CE, given the imminent introduction of compulsory CE. The Committee has expanded videoconferencing of its monthly CE lectures (see below). SHPA members (including committee members) have continued to be involved in Stage II of the Health Practitioners (Queensland Health) Certified Agreement. Advocacy was continued via liaison with the following bodies: Queensland Health Managerial and Administrative staff on a range of issues including workforce issues, liaison with Queensland Health Directors of Pharmacy and support for award evenings for pharmacy courses within Queensland. Queensland Branch of SHPA had members on the following committees: Queensland University of Technology (QUT) Qld Health Pharmacy Advisory Committee Board of Studies Qld Health Pandemic Planning Group University of Qld (UQ): Pre-registration Training Committee Postgraduate Diploma in Clinical and Hospital Qld Health Drug Therapy Protocol Steering Group James Cook University (JCU) Pharmacy Board of Studies Pharmacy School of Pharmacy Board of Studies Educational activities: This year we continued the monthly technician/assistant CE in line with our pharmacists CE program. This was introduced as part of our commitment to providing better services to our technicians and assistants. Our videoconferencing activities have been expanded, with approximately 20 sites and 250 persons attending each month. We also continued our collaboration with PSA (Qld) and developed a local CE calendar for hospital and community pharmacists on the Gold Coast through Liz Coombes. In August 2009 we held a CPD symposium Infectious Diseases which was highly informative, well-attended and profitable. The Branch newsletter has continued its Clinical pearls feature which encourages members to undertake a Group 3 CPD activity by submitting case studies for publication. Special thanks go to: All members of Qld Branch committee for their efforts in the service of members; Liz Coombes and Robyn Underwood for their continued representation of SHPA outside of Brisbane; the Organising Committee of the Infectious Diseases Symposium (Jason Roberts, Sean Unwin, Arna Neilson, Jess Toleman and Kelly Mulvogue); and site coordinators for videoconferencing CPD sites around QLD. SA & NT BRANCH..SA & NT BRANCH..SA & NT BRANCH..SA & NT BRANCH..SA & NT BRANCH SA & NT Branch committee members: Catherine Hughes (Chair), Hayley Vasileff (Vice-Chair), Joy Gailer (Secretary) Travis Schiller (Treasurer), Richard Marotti (Assistant Treasurer), Luke Grzeskowiak (Continuing Education & Autumn Symposium Coordinator), Alicia Thomas (Continuing Education, Autumn Symposium Coordinator), Rachael Cheh (Newsletter Editor), Sharon Goldsworthy (Federal Councillor), Kieran Behan (NT Advisor), Judy Manning (Technician Observer), Hamed Shahnam, Vaishali Padhye, Mardi Wills, (Pharmacy Intern Observers). Advocacy, workforce and membership activities: Accessibility of members to the Branch committee and encouraging their engagement has been another commitment for this year. As such, Branch committee meetings have rotated between sites around Adelaide and each director has been invited to a meeting; including teleconferencing the rural and NT directors of pharmacy. Members from each site are then encouraged to participate as observers. Membership has continued to blossom with excellent monthly applications. Another Hospital Pharmacy Career evening was held at the University with 200 students attending. Advocacy was continued via liaison with the following bodies: Pharmacy Guild of Australia (SA) Pharmacy Board of South Australia SHPA Rural Network Committee University of South Australia Pharmaceutical Society of Australia (SA) Allied Health Professionals of South Australia (AHPSA) Charles Darwin University Educational activities: A significant change has been made to improve the delivery and access to CE in SA & NT. Creation of learning objectives for each session for accreditation and encouraging participant feedback has lead to tailoring of the program to meet members needs and ensure we are maintaining a consistently high quality of CE. Videoconferencing of monthly CE sessions to Darwin, Alice Springs and Mount Gambier has been extremely successful in 2010. This has been extended to videoconferencing CE sessions for our outer-metropolitan areas on a rotational basis for members convenience. Average attendance to monthly CE has increased to an impressive 55/session vs 29/session in 2009. The 2nd Autumn Symposium in May was a fantastic success and brought together a number of esteemed speakers, including our new SA Health Chief Pharmacist Steve Morris, attended by 110 participants including Yvonne Allinson. The event for both pharmacists and technicians delivered a range of plenary, concurrent and case-based sessions and workshop. The NT hosted the Introductory Clinical Seminar in May. Special thanks go to: Judy Manning (Technician Observer) who has been a continuously serving valuable member of the committee for eight years and who was recently selected as a Technician representative for the National Technician Group. Karen Clark: Karen had been involved in SHPA both in the Victorian and SA & NT Branches for many years; she was a key voice in SA Rural Pharmacy Service provision and was the Newsletter Editor in 2008/9. Karen sadly passed away in December 2009. Congratulations to Naomi Burgess (recipient of the GSK Medal of Merit) and Kingsley Coulthard (recipient of the Fred J Boyd award) for their outstanding contributions to the practice of hospital pharmacy, another reflection of the success of clinical pharmacy practice in SA & NT. Thank you to retiring members: Naomi Burgess, Melanie Morrow, Simon Potts, Philip Selby TAS BRANCH..TAS BRANCH..TAS BRANCH..TAS BRANCH..TAS BRANCH.....TAS BRANCH..... Tas Branch committee members: Tom Simpson (Chair), George Taylor (Vice-Chair), Duncan McKenzie (Secretary), Jane Frankling (Treasurer), Amber Roberts (Federal Councillor), Leanne Stafford (CE Coordinator), Camille Boland, Suzette Seaton, Sharon Gordon-Croal, Sarah Fowler (student observer), Ashlee Duggan (student observer). Advocacy, workforce and membership activities: This year the Tas Branch continued its support for University of Tasmania (UTas) Pharmacy School achievers. The committee would like to congratulate UTas clinical pharmacy award winners for 2009: Third year prize: Eleanor Thomas, Fourth Year prize: Kathleen Doherty. The committee also held a university information day for students considering a career in hospital pharmacy. Students were treated to pizza and an informal discussion with seven hospital pharmacists with a broad range of experience and careers within hospital pharmacy. Attendance and enthusiasm was fantastic and the Branch has booked this initiative in as an annual event.
ABN 54 004 553 806
annual report 2010
page 15
The Branch continues to support members wishing to travel interstate to attended conferences and courses which are not offered in Tasmania. This year the Tas Branch was able to grant financial support to eight members to assist with travel to attend interstate educational opportunities. Organising committee for 2011 National Conference: preparation for the 2011 conference in Hobart is well under way, venues are booked and a theme has been chosen. Many members of the Tas Branch are active in the Clinical Pharmacy COSP who are currently updating the Practice Standards for Clinical Pharmacy. Duncan McKenzie represented the Branch and the Clinical Pharmacy COSP on the ClinCAT committee. Advocacy was continued via liaison with the following bodies: UTas School of Pharmacy Course Advisory Tasmanian Pharmacy Liaison Committee (includes Graduate Accreditation Program Committee Tas Pharmacy Board, PSA, Guild and Tas School SHPA Rural Network of Pharmacy) Pharmacy Board of Tas Competence Committee Pharmacy Board of Tasmania PDL local advisory group Educational activities: This year the Tas Branch conducted an annual Branch Symposium held at the Fox and Hounds resort, Port Arthur in the beautiful Tasman Peninsula. The Symposium was a two-day event with three exceptional keynote speakers from around Australia. Karl Bleasel, Director: Department of Immunology at the Royal Melbourne Hospital (and an ex Taswegian!) gave members an insight into drug allergy and the role of the pharmacist. Our South Australian colleagues Naomi Burgess and Olimpia Nigro provided delegates with an instruction manual on Pharmaceutical Reform as Tasmania prepares for imminent implementation. As always, the symposium content was of outstanding quality with excellent presentations from local presenters, thanks to speakers and congratulations to prize winners. Thanks to the Symposium organisers: Suzette Seaton, Leanne Stafford, George Taylor and Duncan McKenzie for a successful, enriching and highly enjoyable event. Special thanks go to: Our leaving committee members for all of their energy, leadership and selfless commitment of their time over many years. Special mentions go to Peter Fowler and Catherine Drake who have served as invaluable members and office bearers on the Tas Branch for many years. VIC BRANCH..VIC BRANCH..VIC BRANCH..VIC BRANCH..VIC BRANCH.....VIC BRANCH..... Vic Branch committee members: Helen Matthews (Chair), Melita Van de Vreede (Vice-Chair), Kirsty Galbraith (Secretary), Jo Edwards (Agenda Secretary), Kerryn Barned (Minutes Secretary), Glenn Valoppi (Treasurer), Patrick Lam (Newsletter Editor), Sonia Shen (CE Coordinator), Alice Kochman (Conference Convenor), Gillian Swinnerton (member), Jackie Abercrombie (Technician Observer), Megan Middleton (Federal Councillor), Sue Kirsa (Federal Councillor), Sally Yeung (Pharmacist Project Officer). Advocacy, workforce and membership activities: The Victorian Pharmacist Project Officer, Sally Yeung, has consulted with the Department of Health concerning the intern and student placement program and also the Rural Locums program. Both have achieved successful outcomes with placement of 80 intern positions and provision of locum rural services in Latrobe and Bendigo. Significant membership growth has occurred in 2009 2010, with approximately 40 % more members, mainly pharmacists and interns in both public and private sectors, urban and rural, general hospitals, specialty, small and large hospitals. Advocacy was continued via liaison with the following bodies: Department of Health Monash University Faculty of Pharmacy and Pharmaceutical Society of Australia Victorian Branch Pharmaceutical Sciences, Pharmacy Foundation Pharmacy Board of Victoria Latrobe University Pharmacy School Pharmacy Guild of Australia Victorian Branch VicTAG Educational activities: The Victorian monthly lectures, the Victorian Summit and the annual Managers meeting have had very good attendances with full capacity. The one-day Summit showcased special interest group (SIG) activities as well as plenary sessions relating to local activities. Special thanks go to: Gilly Swinnerton (outgoing chairman), Olivia Rofe (Vice chairman and Summit convenor), Christine McKenzie (CE coordinator), Elaine Tan (Newsletter editor), Mary Dillon (Technician observer). WA BRANCH..WA BRANCH..WA BRANCH..WA BRANCH..WA BRANCH.....WA BRANCH..... WA Branch Committee members: Michelle Fall (Chair), Susan Parry (Vice-Chair, CE Coordinator), Matthew Foster (Secretary), Chris Hopps (Treasurer), Peter Smart (Newsletter Editor), Katherine Travers (CE Coordinator), Sarah Heward (CE Coordinator), Jeanie Misko (Membership Coordinator), Shannon Mullen (Minute Secretary), Helen Lovitt (Federal Councillor), Marika Eadie, (Technician Representative), Cameron Wright (Intern Representative) and Michelle Luca (Intern Representative). Advocacy, workforce and membership activities: 2009/2010 has been an interesting year for the branch with National Registration looming. The WA Branch Committee have worked to strengthen the ties between hospital pharmacy and other practice settings, and this year has seen even more work being shared between SHPA WA and the Pharmaceutical Council of Western Australia. Membership has been promoted within individual departments, and our cohort of student members remains strong through representation at university prize nights, presentations given at orientations for new pharmacy students and interns, and the annual WAPSA forum. Advocacy was continued via liaison with the following bodies: The Schools of Pharmacy: Health Department of WA Pharmaceutical Council of WA o Curtin University o Murdoch University WA Medication Safety Group o University of WA WAPSA Oncology Nurses and Pharmacists Interest Group Educational activities: Continuing education has been the main focus of branch activities for 2009/2010. The program for 2009 was dominated by the highly successful SHPA National Conference for 2009, which saw members (and non-members) from around Australia converge on Perth for a weekend of learning. The regular CE program has covered topics ranging from Brain Death and Organ Donation to a site visit to Pfizer. In May, the well-received WA Branch Half Day Seminar gave members the opportunity to update their knowledge on diabetes. Special thanks go to: The WA Branch thank these members who gave up their valuable time for roles on the branch committee during 2009: Nyree Marr, Claire Jenner, Emily Jennings and Paula Caird. We would also like to thank all our members for their continuing support of the WA Branch of SHPA.
ABN 54 004 553 806
annual report 2010
page 16
from the treasurer - annual nancial report 2009/10

Summary and Comparison of Financial Results Financial Year Income 1993/94* $1,467,380 1994/95 $1,339,753 1995/96* $1,891,163 1996/97 $1,468,248 1997/98* $2,135,227 1998/99 $1,420,028 1999/00* $1,705,718 2000/01 $1,655,197 2001/02* $1,857,487 2002/03 $1,731,177 2003/04* $2,149,140 2004/05# $1,921,086 2005/06* $2,430,574 2006/07 $2,228,239 2007/08* $2,385,739 2008/09* $2,606,595 2009/10* $2,609,009 Net Result $120,035 ($27,990) $946 $85,865 $65,561 ($160,595) $46,263 $85,869 $125,761 $283,142 $232,260 $383,257 $372,808 $261,812 $273,090 $349,515 $409,350 * Federal Conference years # includes one-off capital gain
Financial year 2009/10 has been another demanding and yet successful year for SHPA. It has provided a positive financial outcome despite expenses associated with upgrade and integration of the membership, seminar and financial databases and the website development which has enabled members to renew and maintain their membership status and their CPD records online. The implementation of these changes required the allocation of nearly two full-time staff from existing resources for a considerable part of the year. We have now moved on to the next phase of quality assurance and maintenance of the database. More online services will be rolled out progressively in the future. Increased revenue has been realised from increased membership (2492 as at 30 June 2010 up from 2227 last year) and positive results from the clinical seminars and the 35th Medicines Management Conference in Perth. Revenue derived from membership fees and interest still does not cover recurrent costs, and so the Society continues to rely on revenue from publications and one-off events such as conferences to cover core membership service expenses. The membership growth in particular has also demanded increased resources in staff time and consumables, such as printing and postage. In recent years, as revenue from membership has grown, additional part-time staff have been employed to provide more member services. Also other successful one-off activities have provided revenue in excess of anticipated earnings and this has provided some welcome reserves so that large one-off costs can be covered. In the next 12 months Council anticipates that significant expenses associated with improving access to the buildings first floor and an extensive IT hardware refresh will occur. SHPAs retained earnings include our premises (building and office equipment) which represents about half our asset base. Other cash reserves are managed conservatively in interest bearing accounts.
Suzanne Kirsa Federal Treasurer The Society of Hospital Pharmacists of Australia ABN 54 004 553 806
annual report 2010
page 17
directors report
directors
Your directors present their report on the company for the financial year ended 30 June 2010. The names of directors in office at any time during or since the end of the year are: Ian D Coombes Sharon J Goldsworthy Anthony D Hall Karen I Kaye Neil J Keen Christine Kemp Suzanne W Kirsa Helen A Lovitt-Raison Megan F Middleton Rebekah J Moles Amber L Roberts Directors have been in office since the start of the financial year to the date of this report unless otherwise stated: Ian Coombes was appointed to be a Councillor (Qld) from 8 November 2009. Suzanne Kirsa was appointed to be a Councillor (Vic) from 8 November 2009. Christine Kemp ceased to be a Councillor (Vic) from 8 November 2009. Megan Middleton commenced 1st term 8 November 2009 Amber Roberts commenced 2nd term 8 November 2009 Anthony Hall commenced 2nd term 8 November 2009
company secretary
Ms Yvonne Allinson; BPharm, GradDipHospPharm, GradDipHealthAdmin, held the position of Chief Executive Officer at the end of the financial year. Ms Allinson has worked for the Society of Hospital Pharmacists of Australia Limited since 2000 in the Federal Secretariat office in the key role of Chief Executive Officer, and was appointed company secretary on 26 July 2000. The principal activities of the company during the financial year were: the provision of membership services, including bulletin, journal, publications, short courses and clinical pharmacy seminars; the 35th Medicines Management Conference in Perth, November 2009; development of practice standards and guidelines; representation on government and related professional committees; and special projects and preparation of discussion papers and submissions. No significant change in the nature of these activities occurred during the year.
principal activities
operating results dividends options
The profit of the company for the financial year after providing for income tax amounted to $409,350. No dividends were paid or declared since the start of the financial year. No recommendation for payment of dividends has been made. No options over issued shares or interests in the company were granted during or since end of the financial year and there were no options outstanding at the date of this report.
review of operations
A review of the operations of the company during the financial year and the results of those operations are as follows: continued work on the shpacpd program and on-going support for members in developing additional CPD resources through the Journal of Pharmacy Practice and Research (JPPR), CE on CD, SHPA seminars and symposia, and AJP; ongoing review of income, expenditure and revenue generation to improve financial performance with the aim to achieve recurrent income streams sufficient to provide the core members services and production of JPPR; increased involvement and interaction with government, other professional organisations and collaboration with healthcare providers and consumers as guided by the updated Strategic Plan; working with branches on services provided to members, whilst streamlining activities and processes; continued sales of the 4th edition Australian Injectable Drugs Handbook, commenced planning for 5th edition; continued production and distribution to members of CE on CD (2 disks); development of position statements and policy documents; development of member services and on-going review of the SHPA website; quarterly publication of the JPPR; further development and utilisation of software package (Coresoft) to manage the SHPAs membership and financial activities; and commencement of shpaclinCAT project.
future developments
The likely developments in the operation of the company and the expected results of those operations in future financial years are the continuation of services with some use of reserves for specific projects to enhance professional practice.
signicant changes in state of affairs after balance date events environmental issues
No significant changes in the companys state of affairs occurred during the financial year. No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the company, the results of those operations or the state of affairs of the company in subsequent financial years. The companys operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory. The Society of Hospital Pharmacists of Australia ABN 54 004 553 806
annual report 2010
page 18
Neil J Keen Federal President; BPharm, MRPharmS, MSHP, MPS; Director of Pharmacy, The Canberra Hospital, ACT Amber L Roberts Federal Vice President; BPharm, MBA, MSHP; State-wide Medication Coordinator, Care Reform, Department of Health and Human Services, Tas Suzanne W Kirsa Federal Treasurer; BPharm, GradDipHospPharm, MSHP, Director of Pharmacy, Peter MacCallum Cancer Centre, Vic Megan F Middleton Fourth Executive Councillor; BPharm (Hons), MSHP; Deputy Director of Pharmacy (Medicines Evaluation) Eastern Health, Vic Ian Coombes Federal Councillor; BPharm, MSHP, A/Director of Safe Medication Management Unit, Qld Sharon J Goldsworthy Federal Councillor; BPharm, MClinPharm, FSHP; Manager Pharmacy Services, The Queen Elizabeth Hospital, SA Anthony Hall Federal Councillor; BPharm (Hons), ADCPT, DipMedSci, MSHP; Senior Lecturer, School of Pharmacy, Griffith University, Gold Coast campus, Qld Karen Kaye Federal Councillor ; BPharm, DipHospPharm, FSHP, MPS; Executive Manager, QUM Programs and Deputy CEO, National Prescribing Service, NSW Christine Kemp Federal Councillor; BPharm, MPH, MSHP; Medical Affairs Manager, Hospira Pty Ltd., Vic Helen A Lovitt-Raison Federal Councillor; BPharm, GradDipPharm, FPS (WA), MSHP, Project Officer, Pharmacy Department, Fremantle Hospital & Health Service, Chair of WA Medication Safety Group Rebekah J Moles Federal Councillor; BPharm, DipHospPharm, PhD, GradCertEdStudies (Higher Ed), FSHP, MPS; Lecturer, The University of Sydney, NSW During the financial year, 6 meetings of directors were held. Attendances were:Directors Meetings Number Eligible Number to Attend Attended Ian Coombes Sharon J Goldsworthy Anthony Hall Karen I Kaye Neil J Keen Christine Kemp Suzanne W Kirsa Helen A Lovitt-Raison Megan F Middleton Rebekah J Moles Amber L Roberts 5 6 6 6 6 1 5 6 6 6 6 4 6 6 3 6 1 4 6 6 6 5 Other Meetings Number Eligible to Attend 2 1 1 0 0 0 0 0 0 1 1 Number Attended 1 1 0 0 0 0 0 0 0 1 1
information on directors
indemnifying ofcers or auditor
During or since the end of the financial year the company has given an indemnity or entered an agreement to indemnify, or paid or agreed to pay insurance premiums as follows: The company has paid premiums to insure each director against liabilities for costs and expenses incurred by them in defending any legal proceedings arising out of their conduct while acting in the capacity of director of the company, other than conduct involving a wilful breach of duty in relation to the company. The total premium for all directors was included in a policy that cost $7585.49 inclusive of GST.
proceedings on behalf of company
No person has applied for leave of Court to bring proceedings on behalf of the company or 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 any part of those proceedings. The company was not a party to any such proceedings during the year.
auditors independence declaration

under S 307C of the Corporations Act 2001 to the directors of The Society of Hospital Pharmacists of Australia I declare that, to the best of my knowledge and belief, during the year ended 30 June 2010 there have been: i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and ii. no contravention of any applicable code of professional conduct in relation to the audit.
ANDERSON AUDITORS
Robert F. Cincotta 17 September 2010 Melbourne
Signed in accordance with a resolution of the Board of Directors
Director - Neil Keen
Director - Suzanne Kirsa
17 September 2010 Melbourne
ABN 54 004 553 806
annual report 2010
page 19
nancial statements
the accompanying notes form part of this nancial report

INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2010 Revenue Other income Changes in inventories of finished goods and work in progress Raw materials and consumables used Employee benefits expense Depreciation and amortisation expenses Finance costs Conference & seminar expenses Advertising & promotional expenses Printing, stationery & postage expenses Travelling expenses Computer expenses Repairs & maintenance expenses Other expenses Profit before income tax Income tax expense Profit for the year Profit attributable to members of the entity Note 2 2010 $ 2,609,009 4,850 (36,538) (769,330) (63,748) (90) (730,003) (2,244) (169,457) (142,243) (57,445) (5,190) (228,221) 409,350 409,350 409,350 2009 $ 2,606,595 (170) (37,896) (805,257) (68,044) (791,722) (14,131) (161,996) (110,483) (40,777) (30,535) (196,069) 349,515 349,515 349,515
3 3
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2010 Profit for the year Other comprehensive income Net gain (loss) on revaluation of financial assets Other comprehensive income for the year, net of tax Total comprehensive income for the year Total comprehensive income attributable to members of the entity STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2010 CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Other current assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Short-term provisions TOTAL CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Retained earnings Reserves TOTAL EQUITY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2010 Retained Profits $ 2,734,313 349,515 3,083,828 409,350 3,493,177
409,350 214,577 214,577 623,927 623,927
349,515 349,515 349,515
4 5 6 7
3,126,643 182,313 4,875 159,061 3,472,892 1,418,170 1,418,170 4,891,062 1,098,219 85,089 1,183,308 1,183,308 3,707,754 3,493,177 214,577 3,707,754
2,974,553 167,650 25 99,798 3,242,026 1,255,822 1,255,822 4,497,848 1,318,765 95,255 1,414,020 1,414,020 3,083,828 3,083,828 3,083,828
9 10
Balance at 1 July 2008 Profit attributable to members Balance at 30 June 2009 Profit attributable to members Total comprehensive income for the year Balance at 30 June 2010 For a description of each reserve, refer to Note 20.
Asset Revaluation Reserve $ 214,577 214,577
Total $ 2,734,313 349,515 3,083,828 409,350 214,577 3,707,754
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STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2010 CASH FLOW FROM OPERATING ACTIVITIES Receipts from customers & grants Payments to suppliers and employees Interest received Net cash generated from operating activities CASH FLOW FROM INVESTING ACTIVITIES Proceeds from sale of property Payments for property, plant and equipment Net cash provided by (used in) investing activities Net increase (decrease) in cash held Cash and cash equivalents at beginning of the financial year Cash and cash equivalents at the end of the financial year
Note
2010 $ 2,415,382 (2,314,591) 64,778 165,569 (13,479) (13,479) 152,090 2,974,553 3,126,643
2009 $ 3,014,140 (2,083,114) 137,364 1,068,390 (10,499) (10,499) 1,057,891 1,916,662 2,974,553
17b
17a
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010 1. Statement of Significant Accounting Policies The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the Corporations Act 2001. The financial report is for The Society of Hospital Pharmacists of Australia Ltd as an individual entity. The Society of Hospital Pharmacists of Australia Ltd is a company limited by guarantee, incorporated and domiciled in Australia. Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated. The financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. Accounting Policies Revenue Grant revenue is recognised in the statement of comprehensive income when the entity obtains control of the grant and it is probable that the economic benefits gained from the grant will flow to the entity and the amount of the grant can be measured reliably. If conditions are attached to the grant which must be satisfied before it is eligible to receive the contribution, the recognition of the grant as revenue will be deferred until those conditions are satisfied. When grant revenue is received whereby the entity incurs an obligation to deliver economic value directly back to the contributor, this is considered a reciprocal transaction and the grant revenue is recognised in the statement of financial position as a liability until the service has been delivered to the contributor, otherwise the grant is recognised as income on receipt. Interest revenue is recognised using the effective interest rate method, which for floating rate financial assets is the rate inherent in the instrument. Revenue from the rendering of a service is recognised upon the delivery of the service to the customers. All revenue is stated net of the amount of goods and services tax (GST). Inventories Inventories are measured at the lower of cost and current replacement cost. Property, Plant and Equipment Each class of property, plant and equipment is carried at cost or fair values as indicated, less, where applicable, accumulated depreciation and impairment losses. Property Freehold land and buildings are shown at their fair value based on periodic, but at least triennial, valuations by external independent valuers, less subsequent depreciation for buildings. In periods when the freehold land and buildings are not subject to an independent valuation, the directors conduct directors valuations to ensure the carrying amount for the land and buildings is not materially different to the fair value. Increases in the carrying amount arising on revaluation of land and buildings are recognised in other comprehensive income and accumulated in the revaluation surplus in equity. Revaluation decreases that offset previous increases of the same class of assets shall be recognised in other comprehensive income under the heading of revaluation surplus. All other decreases are charged to the statement of comprehensive income. As the revalued buildings are depreciated the difference between depreciation recognised in the statement of comprehensive income, which is based on the revalued carrying amount of the asset, and the depreciation based on the assets original cost is transferred from the revaluation surplus to retained earnings. Any accumulated depreciation at the date of the revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset. Plant and Equipment Plant and equipment are measured on the cost basis less depreciation and impairment losses. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount
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from these assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the assets employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts. Depreciation The depreciable amount of all fixed assets including buildings and capitalised leased assets, but excluding freehold land, are depreciated on a straight line basis over their estimated useful lives to the company commencing from the time the asset is held ready for use. Properties held for investment purposes are not subject to a depreciation charge. The depreciation rates used for each class of depreciable asset are: Class of Fixed Asset Depreciation Rate Land 0% Buildings 2.50% Property Improvements 2.50% Plant and Equipment 7.5% - 100% The assets residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. Asset classes carrying amount is written down immediately to its recoverable amount if the assets carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the statement of comprehensive income. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings. Financial Instruments Initial recognition and measurement Financial assets and financial liabilities are recognised when the entity becomes a party to the contractual provisions to the instrument. For financial assets, this is equivalent to the date that the company commits itself to either purchase or sell the asset (i.e. trade date accounting is adopted). Financial instruments are initially measured at fair value plus transactions costs except where the instrument is classified at fair value through profit or loss in which case transaction costs are expensed to profit or loss immediately. Classification and subsequent measurement Financial instruments are subsequently measured at either fair value, amortised cost using the effective interest rate method or cost. Fair value represents the amount for which an asset could be exchanged or a liability settled, between knowledgeable, willing parties. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted. Amortised cost is calculated as: i. the amount at which the financial asset or financial liability is measured at initial recognition; ii. less principal repayments; iii. plus or minus the cumulative amortisation of the difference, if any, between the amount initially recognised and the maturity amount calculated using the effective interest method; and iv. less any reduction for impairment. The effective interest method is used to allocate interest income or interest expense over the relevant period and is equivalent to the rate that exactly discounts estimated future cash payments or receipts (including fees, transaction costs and other premiums or discounts) through the expected life (or when this cannot be reliably predicted, the contractual term) of the financial instrument to the net carrying amount of the financial asset or financial liability. Revisions to expected future net cash flows will necessitate an adjustment to the carrying value with a consequential recognition of an income or expense in profit or loss. (i) Financial assets at fair value through profit or loss Financial assets are classified at fair value through profit or loss when they are held for trading for the purpose of short-term profit taking, or where they are derivatives not held for hedging purposes, or when they are designated as such to avoid an accounting mismatch or to enable performance evaluation where a group of financial assets is managed by key management personnel on a fair value basis in accordance with a documented risk management or investment strategy. Such assets are subsequently measured at fair value with changes in carrying value being included in profit or loss. (ii) Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost. Loans and receivables are included in current assets, except for those which are not expected to mature within 12 months after the end of the reporting period, which will be classified as non-current assets. (iii) Held-to-maturity investments Held-to-maturity investments are non-derivative financial assets that have fixed maturities and fixed or determinable payments, and it is the entitys intention to hold these investments to maturity. They are subsequently measured at amortised cost. Held-to-maturity investments are included in non-current assets, except for those which are expected to mature within 12 months after the end of the reporting period. If during the period the company sold or reclassified more than an insignificant amount of the held-to-maturity investments before maturity, the entire held-to-maturity investment would be tainted and reclassified as available-for-sale. (iv) Available-for-sale financial assets Available-for-sale financial assets are non-derivative financial assets that are either not capable of being classified into other categories of financial assets due to their nature, or they are designated as such by management. They comprise investments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable payments. Available-for-sale financial assets are included in non-current assets, except for those which are expected to be disposed of within12 months after the end of the reporting period. (v) Financial liabilities Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost.
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Fair Value Fair value is determined based on current bid prices for all quoted investments. Valuation techniques are applied to determine the fair value for all unlisted securities, including recent arms length transactions, reference to similar instruments and option pricing models. Impairment At the end of each reporting period, the entity assesses whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recognised in the statement of comprehensive income. Derecognition Financial assets are derecognised where the contractual rights to receipt of cash flows expires or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset. Financial liabilities are derecognised where the related obligations are either discharged, cancelled or expired. The difference between the carrying value of the financial liability, which is extinguished or transferred to another party and the fair value of consideration paid, including the transfer of non-cash assets or liabilities assumed, is recognised in profit or loss. Impairment of Assets At the end of each reporting period, the entity reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the assets fair value less costs to sell and value in use, is compared to the assets carrying value. Any excess of the assets carrying value over its recoverable amount is expensed to the statement of comprehensive income. Where the future economic benefits of the asset are not primarily dependent upon the assets ability to generate net cash inflows and when the entity would, if deprived of the asset, replace its remaining future economic benefits, value in use is determined as the depreciated replacement cost of an asset. Where it is not possible to estimate the recoverable amount of an assets class, the entity estimates the recoverable amount of the cashgenerating unit to which the class of assets belong. Where an impairment loss on a revalued asset is identified, this is debited against the revaluation surplus in respect of the same class of asset to the extent that the impairment loss does not exceed the amount in the revaluation surplus for that same class of asset. Employee Benefits Provision is made for the companys liability for employee benefits arising from services rendered by employees to the end of the reporting period. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled. Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability, consideration is given to employee wage increases and the probability that the employee may not satisfy vesting requirements. Those cash outflows are discounted using market yields on national government bonds with terms to maturity that match the expected timing of cash flows. Contributions are made by the entity to an employee superannuation fund and are charged as expenses when incurred. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at-call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the statement of financial position. Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense. Receivables and payables in the statement of financial position are shown inclusive of GST. Cash flows are presented in the statement of cash flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows. Income Tax No provision for income tax has been raised as the entity is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997 based on its status as a Health Promotion Charity. Provisions Provisions are recognised when the entity has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured. Provisions recognised represent the best estimate of the amounts required to settle the obligation at the end of the reporting period. Comparative Figures Where required by Accounting Standards comparative figures have been adjusted to conform with changes in presentation for the current financial year. When an entity applies an accounting policy retrospectively, makes a retrospective restatement or reclassifies items in its financial statements, a statement of financial position as at the beginning of the earliest comparative period must be disclosed. Trade and Other Payables Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability. Critical Accounting Estimates and Judgments The directors evaluate estimates and judgments incorporated into the financial statements based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the company.
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Key Estimates Impairment The freehold land and buildings were independently valued at 30 June 2010. The valuation was based on the fair value less cost to sell. The critical assumptions adopted in determining the valuation included the location of the land and buildings, the current strong demand for land and buildings in the area and recent sales data for similar properties. The valuation resulted in a revaluation increment of $214,577 being recognised for the year ended 30 June 2010. Adoption of New and Revised Accounting Standards During the current year the company adopted all of the new and revised Australian Accounting Standards and Interpretations applicable to its operations which became mandatory. The adoption of these standards has impacted the recognition, measurement and disclosure of certain transactions. The following is an explanation of the impact the adoption of these standards and interpretations has had on the financial statements of The Society of Hospital Pharmacists of Australia Ltd. AASB 101: Presentation of Financial Statements In September 2007 the Australian Accounting Standards Board revised AASB 101 and as a result, there have been changes to the presentation and disclosure of certain information within the financial statements. Below is an overview of the key changes and the impact on the companys financial statements. Disclosure impact Terminology changes The revised version of AASB 101 contains a number of terminology changes, including the amendment of the names of the primary financial statements. Reporting changes in equity The revised AASB 101 requires all changes in equity arising from transactions with owners, in their capacity as owners, to be presented separately from non-owner changes in equity. Owner changes in equity are to be presented in the statement of changes in equity, with non-owner changes in equity presented in the statement of comprehensive income. The previous version of AASB 101 required that owner changes in equity and other comprehensive income be presented in the statement of changes in equity. Statement of comprehensive income The revised AASB 101 requires all income and expenses to be presented in either one statement, the statement of comprehensive income, or two statements, a separate income statement and a statement of comprehensive income. The previous version of AASB 101 required only the presentation of a single income statement. The companys financial statements now contain a statement of comprehensive income. Other comprehensive income The revised version of AASB 101 introduces the concept of other comprehensive income which comprises of income and expenses that are not recognised in profit or loss as required by other Australian Accounting Standards. Items of other comprehensive income are to be disclosed in the statement of comprehensive income. Entities are required to disclose the income tax relating to each component of other comprehensive income. The previous version of AASB 101 did not contain an equivalent concept. New Accounting Standards for Application in Future Periods The AASB has issued new and amended accounting standards and interpretations that have mandatory application dates for future reporting periods. The company has decided against early adoption of these standards. A discussion of those future requirements and their impact on the company follows: AASB 9: Financial Instruments and AASB 2009-11: Amendments to Australian Accounting Standards arising from AASB 9 [ AASB 1, 3, 4, 5, 7, 101, 102, 108, 112, 118, 121, 127, 128, 131, 132, 136, 139, 1023 & 1038 and Interpretations 10 & 12] (applicable for annual reporting periods commencing on or after 1 January 2013). These standards are applicable retrospectively and amend the classification and measurement of financial assets. The company has not yet determined any potential impact on the financial statements. The changes made to accounting requirements include: simplifying the classifications of financial assets into those carried at amortised cost and those carried at fair value; simplifying the requirements for embedded derivatives; removing the tainting rules associated with held-to-maturity assets; removing the requirements to separate and fair value embedded derivatives for financial assets carried at amortised cost; allowing an irrevocable election on initial recognition to present gains and losses on investments in equity instruments that are not held for trading in other comprehensive income. Dividends in respect of these investments that are a return on investment can be recognised in profit or loss and there is no impairment or recycling on disposal of the instrument; requiring financial assets to be reclassified where there is a change in an entitys business model as they are initially classified based on (a) the objective of the entitys business model for managing the financial assets; and (b) the characteristics of the contractual cash flows. AASB 124: Related Party Disclosures (applicable for annual reporting periods commencing on or after 1 January 2011). This standard removes the requirement for government related-entities to disclose details of all transactions with the government and other government-related entities and clarifies the definition of a related party to remove inconsistencies and simplify the structure of the standard. No changes are expected to materially affect the company. AASB 20094: Amendments to Australian Accounting Standards arising from the Annual Improvements Project [AASB 2 and AASB 138 and AASB Interpretations 9 & 16] (applicable for annual reporting periods commencing from 1 July 2009) and AASB 20095: Further Amendments to Australian Accounting Standards arising from the Annual Improvements Project [AASB 5, 8, 101, 107, 117, 118, 136 & 139] (applicable for annual reporting periods commencing from 1 January 2010). These standards detail numerous non-urgent but necessary changes to accounting standards arising from the IASBs annual improvements project. No changes are expected to materially affect the company.
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AASB 20098: Amendments to Australian Accounting Standards Group Cash-settled Share-based Payment Transactions [AASB 2] (applicable for annual reporting periods commencing on or after 1 January 2010). These amendments clarify the accounting for group cash-settled share-based payment transactions in the separate or individual financial statements of the entity receiving the goods or services when the entity has no obligation to settle the sharebased payment transaction. The amendments incorporate the requirements previously included in Interpretation 8 and Interpretation 11 and as a consequence these two Interpretations are superseded by the amendments. These amendments are not expected to impact the company.
AASB 20099: Amendments to Australian Accounting Standards Additional Exemptions for First-time Adopters [AASB 1] (applicable for annual reporting periods commencing on or after 1 January 2010). These amendments specify requirements for entities using the full cost method in place of retrospective application of Australian Accounting Standards for oil and gas assets and exempt entities with existing leasing contracts from reassessing the classification of those contracts in accordance with Interpretation 4 when the application of their previous accounting policies would have given the same outcome. These amendments are not expected to impact the company.
AASB 200910: Amendments to Australian Accounting Standards Classification of Rights Issues [AASB 132] (applicable for annual reporting periods commencing on or after 1 February 2010). The amendments clarify that rights, options or warrants to acquire a fixed number of an entitys own equity instruments for a fixed amount in any currency are equity instruments if the entity offers the rights, options or warrants pro-rata to all existing owners of the same class of its own non-derivative equity instruments. The amendments are not expected to impact the company.
AASB 200912: Amendments to Australian Accounting Standards [AASBs 5, 8, 108, 110, 112, 119, 133, 137, 139, 1023 & 1031 and Interpretations 2, 4, 16, 1039 & 1052] (applicable for annual reporting periods commencing on or after 1 January 2011). This Standard makes a number of editorial amendments to a range of Australian Accounting Standards and Interpretations, including amendments to reflect changes made to the text of IFRSs by the IASB. The Standard also amends AASB 8 to require entities to exercise judgment in assessing whether a government and entities known to be under the control of that government are considered a single customer for the purposes of certain operating segment disclosures. The amendments are not expected to impact the company.
AASB 200913: Amendments to Australian Accounting Standards arising from Interpretation 19 [AASB 1] (applicable for annual reporting periods commencing on or after 1 July 2010). This Standard makes amendments to AASB 1 arising from the issue of Interpretation 19. The amendments allow a first-time adopter to apply the transitional provisions in Interpretation 19. This Interpretation is not expected to impact the company.
AASB 200914: Amendments to Australian Interpretation Prepayments of a Minimum Funding Requirement [AASB Interpretation 14] (applicable for annual reporting periods commencing on or after 1 January 2011). This standard amends Interpretation 14 to address unintended consequences that can arise from the previous accounting requirements when an entity prepays future contributions into a defined benefit pension plan.
AASB Interpretation 19: Extinguishing Financial Liabilities with Equity Instruments (applicable for annual reporting periods commencing from 1 July 2010). This Interpretation deals with how a debtor would account for the extinguishment of a liability through the issue of equity instruments. The Interpretation states that the issue of equity should be treated as the consideration paid to extinguish the liability, and the equity instruments issued should be recognised at their fair value unless fair value cannot be measured reliably in which case they shall be measured at the fair value of the liability extinguished. The Interpretation deals with situations where either partial or full settlement of the liability has occurred. This Interpretation is not expected to impact the company.
The company does not anticipate early adoption of any of the above Australian Accounting Standards. 2. Revenue Sale of goods Administration income Advertising income Grants & support Royalties Interest received Rendering of services Rental income & outgoings Other revenue Total revenue 3. Profit Expenses: Cost of sales Finance costs Interest paid 2010 $ 157,803 2,864 37,204 574,711 55,993 142,135 1,522,920 82,291 33,088 2,609,009 2009 $ 207,369 56,162 643,620 57,884 131,694 1,372,189 100,501 37,176 2,606,595
31,688 90
38,066 -
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Depreciation of non-current assets Depreciation - plant & equipment Depreciation - property improvements Depreciation - buildings Total depreciation Loss on disposal of non-current assets Doubtful debts expense Remuneration of auditor Auditing the accounts Other services 4. Cash and Cash Equivalents Cash on hand Term deposits Cash at bank - Federal operating account Cash at banks, building societies, credit unions 5. Trade and Other Receivables Current Trade receivables Provision for impairment Other receivables Total current trade and other receivables
2010 $ 38,777 346 24,625 63,748 1,961 (3,000) 22,501 7,267 29,767 1,976 2,407,929 300,864 415,874 3,126,643
2009 $ 43,073 346 24,625 68,044 7,667 3,000 17,820 17,820 1,976 1,864,542 251,850 856,185 2,974,553
179,654 179,654 2,659 182,313
169,710 (3,000) 166,710 940 167,650
(i) Provision for Impairment of Receivables Receivables are assessed for recoverability and a provision for impairment is recognised when there is objective evidence that an individual trade receivable is impaired. These amounts have been included in other expense items. Movement in the provision for impairment of receivables is as follows: Provision for impairment as at 30 June 2008 Charge for year Written off Provision for impairment as at 30 June 2009 Charge for year Written off Provision for impairment as at 30 June 2010 $ 3,000 3,000 (3,000) -
(i) Credit Risk Trade and Other Receivables The company does not have any material credit risk exposure to any single receivable or group of receivables. The following table details the companys trade and other receivables exposed to credit risk (prior to collateral and other credit enhancements) with ageing analysis and impairment provided for thereon. Amounts are considered as past due when the debt has not been settled within the terms and conditions agreed between the company and the customer or counter party to the transaction. Receivables that are past due are assessed for impairment by ascertaining solvency of the debtors and are provided for where there are specific circumstances indicating that the debt may not be fully repaid to the company. The balances of receivables that remain within initial trade terms (as detailed in the table) are considered to be of high credit quality. Gross amount $ 2009 Trade and term receivables Other receivables Total 2010 Trade and term receivables Other receivables Total 169,710 940 170,650 179,654 2,659 182,313 Past due and impaired $ 3,000 3,000 Past due but not impaired (days overdue) 31-60 61-90 $ $ 15,922 15,922 20,355 20,355 21,007 21,007 13,200 13,200 Within initial trade terms $ 129,671 940 130,611 2,659 2,659
<30 $ 110 110 138,000 138,000
>90 $ 8,099 8,099
The company does not hold any financial assets whose terms have been renegotiated, but which would otherwise be past due or impaired. There are no balances within trade receivables that contain assets that are not impaired and are past due. It is expected that these balances will be received when due.
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6. Inventories Current At cost: Stock on hand 7. Other Assets Current Accrued income Deposits paid Prepayments 8. Property, Plant and Equipment Land and Buildings Freehold land at: Land - 65 - 69 Oxford Street Collingwood - at cost Buildings: Suites 3 & 4, 65 - 69 Oxford Street Collingwood - at cost Less: accumulated depreciation Property improvements Less: accumulated depreciation Total land and buildings Plant and equipment Office furniture & equipment - at cost Less: accumulated depreciation Total plant and equipment Total property, plant and equipment
2010 $
2009 $
4,875
25
77,357 81,704 159,061
13,397 2,025 84,376 99,798
462,375 985,000 (119,939) 865,061 13,847 (1,283) 12,564 1,340,000 175,743 (97,573) 78,170 78,170 1,418,170
247,798 985,000 (95,314) 889,686 13,847 (937) 12,910 1,150,394 181,172 (75,744) 105,428 105,428 1,255,822
Movements in Carrying Amounts Movements in carrying amount for each class of property, plant and equipment between the beginning and the end of the current financial year. Plant, Equipment & Property Land Buildings Improvements Total 2009 $ $ $ $ Balance at the beginning of the year 247,798 914,311 158,926 1,321,035 Additions 11,419 11,419 Disposals (8,588) (8,588) Depreciation expense (24,625) (43,419) (68,044) Carrying amount at the end of the year 247,798 889,686 118,338 1,255,822 Plant, Equipment & Property Buildings Improvements $ $ 889,686 118,338 13,479 (1,960) (24,625) (39,123) 865,061 90,734
2010 Balance at the beginning of the year Additions Disposals Revaluation increment Depreciation expense Carrying amount at the end of the year
Land $ 247,798 214,577 462,375
Total $ 1,255,822 13,479 (1,960) 214,577 (63,748) 1,418,170
Asset revaluations The freehold land and buildings were independently valued at 30 June 2010. The valuation was based on the fair value less cost to sell. The critical assumptions adopted in determining the valuation included the location of the land and buildings, the current strong demand for land and buildings in the area and recent sales data for similar properties. The valuation resulted in a revaluation increment of $214,577 being recognised in the Revaluation Surplus for the year ended 30 June 2010. 2010 2009 $ $ 9. Trade and Other Payables Current Income in advance 901,493 891,856 Other payables & accruals 78,307 203,288 Awards in trust 114,461 177,324 3,958 46,297 GST payable 1,098,219 1,318,765 a. Financial liabilities at amortised cost classified as trade and other payables Trade and other payables - Total current - Total non-current Less income in advance Financial liabilities as trade and other payables
1,098,219 1,098,219 (901,493) 196,726
1,318,765 1,318,765 (891,856) 426,909
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10. Provisions Current Provision for employee benefits Non-Current Provision for employee benefits Aggregate employee benefit liability
2010 $ 85,089 85,089
2009 $ 95,255 95,255
Provision for Long-term Employee Benefits A provision has been recognised for employee entitlements relating to long service leave. In calculating the present value of future cash flows in respect of long service leave, the probability of long service leave being taken is based on historical data. The measurement and recognition criteria relating to employee benefits have been included in Note 1 to this report. 11. Capital and Leasing Commitments There are no material capital and leasing commitments contracted for at the reporting date for plant and equipment purchases and capital expenditure projects. 12. Contingent Liabilities and Assets There are no material contingent liabilities and assets which are required to be disclosed in the financial statements at reporting date. 13. Events After the Reporting Period There are no significant events after the reporting date which are required to be disclosed in the financial statements. 14. Key Management Personnel Compensation Short Term Benefits $ 246,361 266,032 Post employment Benefits $ Nil Nil
2010 Total compensation 2009 Total compensation
Total $ 246,361 266,032
15. Related Party Transactions Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other persons unless otherwise stated. There were no transactions with related parties during the year. 16. Segment Reporting Business and Geographical Segments. The company operates predominantly in one business and geographical segment, being the provision of member, professional development and educational services to those in the pharmaceutical and health professions within Australia. 17. Cash Flow Information a. Reconciliation of cash Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows: 2010 2009 $ $ Cash on hand 1,976 1,976 Term deposits 2,407,929 1,864,542 Cash at bank - Federal operating account 300,864 251,850 415,874 856,185 Cash at banks, building societies, credit unions 3,126,643 2,974,553 b. Reconciliation of Cashflow from Operations with Profit after Income Tax Profit after income tax Non-cash flows Provision for doubtful debts Loss on sale of non-current assets Depreciation Increase (Decrease) in employee provisions Changes in assets and liabilities (Increase) Decrease in inventories (Increase) Decrease in trade and other receivables (Increase) Decrease in prepayments (Increase) Decrease in deposits paid (Increase) Decrease in accrued income Increase (Decrease) in trade payables Increase (Decrease) in income in advance Increase (Decrease) in awards in trust Increase (Decrease) in GST liability clearing account 409,350 (3,000) 1,961 63,748 (10,166) (4,850) (11,663) 2,672 2,025 (63,960) (124,981) 9,637 (62,863) (42,341) 165,569 349,515 3,000 7,667 68,044 15,125 170 108,318 61,293 (2,025) (13,397) 4,367 370,182 79,806 16,325 1,068,390
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c. Credit stand-by arrangements and loan facilities The Company has a bank overdraft limit and credit card limits amounting to $64,000 (2009: $64,000). This may be terminated at any time at the option of either party. At 30 June 2010, none of this facility was used (2009: $0). Interest rates are variable. 18. Financial Risk Management The companys financial instruments consist mainly of deposits with banks and accounts receivable and payable. The main purpose of non-derivative financial instruments is to raise finance for the companys operations. The company does not speculate in the trading of derivative instruments. The totals for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements, are as follows: Note 2010 2009 $ $ Financial Assets Cash and cash equivalent 4 3,126,643 2,974,553 5 182,313 167,650 Trade and other receivables 3,308,956 3,142,203 Financial Liabilities Trade and other payables 9a 196,726 196,726 426,909 426,909
(i) Financial Risk Management Policies Consisting of senior committee members, the finance committees overall risk management strategy seeks to assist the company in meeting its financial targets, whilst minimising potential adverse effects on financial performance. Risk management policies are approved and reviewed by the finance committee on a regular basis. These include credit risk policies and future cash flow requirements. (ii) Specific Financial Risk Exposures and Management The main risks the company is exposed to through its financial instruments are credit risk, liquidity risk and market risk relating to interest rate risk and equity price risk. a. Credit risk Exposure to credit risk relating to financial assets arises from the potential non-performance by counterparties of contract obligations that could lead to a financial loss for the company. Credit risk is managed through the maintenance of procedures (such procedures include the utilisation of systems for the approval, granting and removal of credit limits, regular monitoring of exposures against such limits and monitoring of the financial stability of significant customers and counter parties), ensuring to the extent possible, that customers and counter parties to transactions are of sound credit worthiness. Such monitoring is used in assessing receivables for impairment. Credit Risk Exposure The maximum exposure to credit risk by class of recognised financial assets at the end of the reporting period is equivalent to the carrying value and classification of those financial assets (net of any provisions) as presented in the statement of financial position. Trade and other receivables that are neither past due or impaired are considered to be of high credit quality. Aggregates of such amounts are as detailed at Note 5. The company has no significant concentration of credit risk exposure to any single counterparty or group of counterparties. Details with respect to credit risk of Trade and Other Receivables are provided in Note 5. b. Liquidity risk Liquidity risk arises from the possibility that the company might encounter difficulty in settling its debts or otherwise meeting its obligations in relation to financial liabilities. The company manages this risk through the following mechanisms: preparing forward looking cash flow analysis in relation to its operational, investing and financing activities; maintaining a reputable credit profile; managing credit risk related to financial assets; only investing surplus cash with major financial institutions; and comparing the maturity profile of financial liabilities with the realisation profile of financial assets. The tables below reflect an undiscounted contractual maturity analysis for financial liabilities. Cash flows realised from financial assets reflect managements expectation as to the timing of realisation. Actual timing may therefore differ from that disclosed. The timing of cash flows presented in the table to settle financial liabilities reflects the earliest contractual settlement dates. Financial liability and financial asset maturity analysis Within 1 year 2010 2009 $ $ 196,726 196,726 3,126,643 182,313 3,308,956 3,112,230 426,909 426,909 2,974,553 167,650 3,142,203 2,715,294 Total
Financial liabilities due for payment Trade and other payables (excluding estimated annual leave and deferred income) Total expected outflows Financial Assets cash flows realisable Cash and cash equivalents Trade, term and loans receivables Total anticipated inflows Net (outflow)/inflow on financial instruments
2010 $ 196,726 196,726 3,126,643 182,313 3,308,956 3,112,230
2009 $
426,909 426,909 2,974,553 167,650 3,142,203 2,715,294
ABN 54 004 553 806
annual report 2010
page 29
c. Market risk i. Interest rate risk Exposure to interest rate risk arises on financial assets and financial liabilities recognised at the end of the reporting period whereby a future change in interest rates will affect future cash flows or the fair value of fixed rate financial instruments. ii. The company did not have any loans with financial institutions during the year. Price risk Price risk relates to the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices of securities held. The company was not significantly exposed to price risk during the year. (iii) Sensitivity Analysis The following table illustrates sensitivities to the companys exposures to changes in interest rates and equity prices. The table indicates the impact on how profit and equity values reported at the end of the reporting period would have been affected by changes in the relevant risk variable that management considers to be reasonably possible. These sensitivities assume that the movement in a particular variable is independent of other variables. Profit Equity $ $ Year ended 30 June 2009 +/-2% in interest rates +/- 48873 +/- 48873 Year ended 30 June 2010 +/-2% in interest rates +/- 60972 +/- 60972
No sensitivity analysis has been performed on foreign exchange risk as the company is not exposed to foreign currency fluctuations. (iv) Net Fair Values The fair values of financial assets and financial liabilities can be compared to their carrying values as presented in the statement of financial position. Fair values are those amounts at which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arms length transaction. Monetary financial assets and liabilities not readily traded in an organised financial market are determined by valuing them at the present value of contractual future cash flows on amounts due from customers (reduced except for credit losses) or due to suppliers. Cash flow are discounted using standard valuation techniques at the applicable market yield having regard to the timing of the cash flows. The net fair value of assets and liabilities approximates their carrying value at reporting date. 19. Capital Management Management controls the capital of the entity to ensure that adequate cash flows are generated to fund its mentoring programs and that returns from investments are maximised. The finance committee ensures that the overall risk management strategy is in line with this objective. The finance committee operates under policies approved by the Board of Directors. Risk management policies are approved and reviewed by the Board on a regular basis. These include credit risk policies and future cash flow requirements. The entitys capital consists of financial liabilities, supported by financial assets. Management effectively manages the entitys capital by assessing the entitys financial risks and responding to changes in these risks and in the market. These responses may include the consideration of debt levels. There have been no changes to the strategy adopted by management to control the capital of the entity since the previous year. 20. Reserves Revaluation Surplus The revaluation surplus records the revaluations of non-current assets. Where revaluations are deemed to represent profits of a permanent nature, dividends may be declared from this surplus. 21. Entity Details The registered office and principal place of business is at: Suite 3, 65 Oxford Street Collingwood VIC 3066 22. Members Guarantee The entity is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the entity is wound up, the constitution states that each member is required to contribute a maximum of $20 each towards meeting any outstandings and obligations of the entity. At 30 June 2010 the number of members was 2,492.
ABN 54 004 553 806
annual report 2010
page 30
directors declaration
The directors of the company declare that: 1. The financial statements and notes, as set out on pages 20 to 31, are in accordance with the Corporations Act 2001: (a) comply with Australian Accounting Standards; and (b) give a true and fair view of the financial position as at 30 June 2010 and of the performance for the year ended on that date of the entity. In the directors opinion there are reasonable grounds to believe that the entity will be able to pay its debts as and when they become due and payable.
2.
This declaration is made in accordance with a resolution of the Board of Directors.
Director: Neil Keen Dated this 17th day of September 2010
Director: Suzanne Kirsa
independent audit report
We have audited the accompanying financial statements of The Society Of Hospital Pharmacists Of Australia Ltd (the company), which comprises the statement of financial position as at 30 June 2010 and the income statement, statement of comprehensive income, statement of changes in equity and statement of cash flows for the year ended on that date, a summary of significant accounting policies and other explanatory notes and the directors declaration.
to the members of The Society of Hospital Pharmacists of Australia Limited ABN 54 004 553 806
the responsibility of the directors for the nancial statements
The directors of the company are responsible for the preparation and fair presentation of the financial statements in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entitys preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
auditors responsibility
In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001.
independence
auditors opinion
In our opinion, the financial statements present fairly, in all material respects, the financial position of The Society Of Hospital Pharmacists Of Australia Ltd as at 30 June 2010, and its financial performance and cash flows for the year then ended in accordance with the Corporations Act 2001 and the Australian Accounting Standards (including Australian Accounting Interpretations).
ANDERSON AUDITORS Chartered Accountants Level 2, 479 St Kilda Road, Melbourne VIC 3004 Dated this 17th day of September 2010
ROBERT F. CINCOTTA Partner
ABN 54 004 553 806
annual report 2010
page 31
ABN 54 004 553 806
annual report 2010
page 32

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annual report 2010

The Society of Hospital Pharmacists of Australia

annual report 2010

shpa contact details

Publisher The Society of Hospital Pharmacists of Australia

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

annual report 2010

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

the shpa vision is:

the shpa mission is:

Supporting the continuing professional development of our members

the shpa values are:

the strategic plan:

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

membership report to 30 June 2010

ACT NSW VIC QLD SA/NT WA TAS O/SEAS TOTAL

49 442 581 471 213 156 49 2 1963

64 562 709 570 278 236 63 10 2492

2.6 22.6 28.5 22.9 11.2 9.5 2.5 0.4 100

shpa federal secretariat

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

shpa federal councillors

members of federal council as at 30 June 2010

Councillor from 2003 (NSW) Lecturer, The University of Sydney, NSW

thanks from all members to former councillor

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

from the president

NEIL KEEN Federal President

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

education and professional development

developing and maintaining the skills and competencies of pharmacists

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

increasing the understanding of the role of the pharmacist in patient care

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

annual report 2010

research and development

Grants Awarded during 2009 / 2010

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806

annual report 2010

facilitating professional development through quality publications

journal of pharmacy practice and research

The Society of Hospital Pharmacists of Australia

ABN 54 004 553 806