In the bank or on the ground : an examination of financial reserves in Australian international aid organisations

This study contributes to the understanding of the contribution of financial reserves to sustaining nonprofit organisations. Recognising the limited recent Australian research in the area of nonprofit financial vulnerability, it specifically examines financial reserves held by signatories to the Code of Conduct of the Australian Council for International Development (ACFID) for the years 2006 to 2010. As this period includes the Global Financial Crisis, it presents a unique opportunity to observe the role of savings in a period of heightened financial threats to sustainability. The need for nonprofit entities to maintain reserves, while appearing intuitively evident, is neither unanimously accepted nor supported by established theoretic constructs. Some early frameworks attempt to explain the savings behaviour of nonprofit organisations and its role in organisational sustainability. Where researchers have considered the issue, its treatment has usually been either purely descriptive or alternatively, peripheral to a broader attempt to predict financial vulnerability. Given the importance of nonprofit entities to civil society, the sustainability of these organisations during times of economic contraction, such as the recent Global Financial Crisis, is a significant issue. Widespread failure of nonprofits, or even the perception of failure, will directly affect, not only those individuals who access their public goods and services, but would also have impacts on public confidence in both government and the sectors’ ability to manage and achieve their purpose. This study attempts to ‘shine a light’ on the paradox inherent in considering nonprofit savings. On the one hand, a public prevailing view is that nonprofit organisations should not hoard and indeed, should spend all of their funds on the direct achievement of their purposes. Against this, is the commonsense need for a financial buffer if only to allow for the day to day contingencies of pay rises and cost increases. At the entity level, the extent of reserves accumulated (or not) is an important consideration for Management Boards. The general public are also interested in knowing the level of funds held by nonprofits as a measure of both their commitment to purpose and as an indicator of their effectiveness. There is a need to communicate the level and prevalence of reserve holdings, balancing the prudent hedging of uncertainty against a sense of resource hoarding in the mind of donors. Finally, funders (especially governments) are interested in knowing the appropriate level of reserves to facilitate the ongoing sustainability of the sector. This is particularly so where organisations are involved in the provision of essential public goods and services. At a scholarly level, the study seeks to provide a rationale for this behaviour within the context of appropriate theory. At a practical level, the study seeks to give an indication of the drivers for savings, the actual levels of reserves held within the sector studied, as well as an indication as to whether the presence of reserves did mitigate the effects of financial turmoil during the Global Financial Crisis. The argument is not whether there is a need to ensure sustainability of nonprofits, but rather how it is to be done and whether the holding of reserves (net assets) is an essential element is achieving this. While the study offers no simple answers, it does appear that the organisations studied present as two groups, the ‘savers’ who build reserves and keep ‘money in the bank’ and ‘spender-delivers’ who put their resources ‘on the ground’. To progress an understanding of this dichotomy, the study suggests a need to move from its current approach to one which needs to more closely explore accounts based empirical donor attitude and nonprofit Management Board strategy.

"Food For Thought" Selected Design Installation DIA Homegrown 2011 Life In the Slow Lane Exhibition: Little Stanley Street, South Bank, Brisbane

'Homegrown is an initiative of the Design Institute of Australia–Queensland Branch to promote the collaboration and cultivation of local design talent in Queensland and strengthen the connection between design, plate, planet, people and culture.' Homegrown 2011 Exhibition Catalogue Excerpt

Grameen Bank's social performance disclosure : responding to a negative assessment by Wall Street Journal in late 2001

Purpose – The aim of this paper is to establish a linkage between negative global media news towards Grameen Bank (GB), the largest microfinance organisation in the developing world, and the extent and type of annual report social performance disclosures by GB, over the nine-year period 1997-2005. Design/methodology/approach – Content analysis instruments are utilised to analyse GB annual report social disclosure. Findings – The study finds that GB's community poverty alleviation disclosures account for the highest proportion of total social disclosures in the period 1997-2005. The results of this study are particularly significant in relation to poverty alleviation – the issue attracting severe criticism from the Wall Street Journal (WSJ?) late in 2001. The community poverty alleviation disclosures by GB are significantly greater over the four years following the negative news in the WSJ than in the four years before. The results suggest that GB responds to a negative media story or legitimacy threatening news via annual report social disclosures in an attempt to re-establish its legitimacy. Originality/value – This paper contributes to the literature because in the past there has been no research published linking global media attention to the social disclosure practices of major organisations in developing countries

System level tests of transformer differential protection using an IEC 61850 process bus

The IEC 61850 family of standards for substation communication systems were released in the early 2000s, and include IEC 61850-8-1 and IEC 61850-9-2 that enable Ethernet to be used for process-level connections between transmission substation switchyards and control rooms. This paper presents an investigation of process bus protection performance, as the in-service behavior of multi-function process buses is largely unknown. An experimental approach was adopted that used a Real Time Digital Simulator and 'live' substation automation devices. The effect of sampling synchronization error and network traffic on transformer differential protection performance was assessed and compared to conventional hard-wired connections. Ethernet was used for all sampled value measurements, circuit breaker tripping, transformer tap-changer position reports and Precision Time Protocol synchronization of sampled value merging unit sampling. Test results showed that the protection relay under investigation operated correctly with process bus network traffic approaching 100% capacity. The protection system was not adversely affected by synchronizing errors significantly larger than the standards permit, suggesting these requirements may be overly conservative. This 'closed loop' approach, using substation automation hardware, validated the operation of protection relays under extreme conditions. Digital connections using a single shared Ethernet network outperformed conventional hard-wired solutions.

Impact of high PV penetration on distribution transformer insulation life

The reliable operation of distribution systems is critically dependent on detailed understanding of load impacts on distribution transformer insulation systems. This paper estimates the impact of rooftop photovoltaic (PV) generation on a typical 200-kVA, 22/0.415-kV distribution transformer life under different operating conditions. This transformer supplies a suburban area with a high penetration of roof top photovoltaic systems. The transformer loads and the phase distribution of the PV systems are significantly unbalanced. Oil and hot-spot temperature and remnant life of distribution transformer under different PV and balance scenarios are calculated. It is shown that PV can significantly extend the transformer life.

Numerical investigation of mechanical and thermal dynamic properties of the industrial transformer

Industrial transformer is one of the most critical assets in the power and heavy industry. Failures of transformers can cause enormous losses. The poor joints of the electrical circuit on transformers can cause overheating and results in stress concentration on the structure which is the major cause of catastrophic failure. Few researches have been focused on the mechanical properties of industrial transformers under overheating thermal conditions. In this paper, both mechanical and thermal properties of industrial transformers are jointly investigated using Finite Element Analysis (FEA). Dynamic response analysis is conducted on a modified transformer FEA model, and the computational results are compared with experimental results from literature to validate this simulation model. Based on the FEA model, thermal stress is calculated under different temperature conditions. These analysis results can provide insights to the understanding of the failure of transformers due to overheating, therefore are significant to assess winding fault, especially to the manufacturing and maintenance of large transformers.

Bank audit fees and asset securitization risks

Using the lens of audit pricing, we provide insights into auditors’ behaviors in relation to the risk of asset securitizations to bank holding companies in a period encompassing the Global Financial Crisis (GFC) and the introduction of the accounting standards FAS 166 and FAS 167. Using US bank holding company data from 2003 to 2011, we find significant and positive associations between asset securitization risks and audit fees. We find that auditors appear to focus on different aspects of asset securitization risks after the onset of the GFC, and increase their attention to the systemic risks facing bank holding companies in general. After the implementation of FAS 166 and FAS 167, which removed the discretion to treat asset securitizations as sales and required the consolidation of the accounts of special purpose entities, asset securitization risks no longer have a significant effect on audit fees.

A direct integration scheme for battery-supercapacitor hybrid energy storage systems with the use of grid side inverter

Battery-supercapacitor hybrid energy storage systems are becoming popular in the renewable energy sector due to their improved power and energy performances. These hybrid systems require separate dc-dc converters, or at least one dc-dc converter for the supercapacitor bank, to connect them to the dc-link of the grid interfacing inverter. These additional dc-dc converters increase power losses, complexity and cost. Therefore, possibility of their direct connection is investigated in this paper. The inverter system used in this study is formed by cascading two 3-level inverters, named as the “main inverter” and the “auxiliary inverter”, through a coupling transformer. In the test system the main inverter is connected with the rectified output of a wind generator while the auxiliary inverter is directly attached to a battery and a supercapacitor bank. The major issues with this approach are the dynamic changes in dc-link voltages and inevitable imbalances in the auxiliary inverter voltages, which results in unevenly distributed space vectors. A modified SVM technique is proposed to solve this issue. A PWM based time sharing method is proposed for power sharing between the battery and the supercapacitor. Simulation results are presented to verify the efficacy of the proposed modulation and control techniques.

A modular matrix converter for transformer-less PMSG wind generation systems

An offshore wind turbine usually has the grid step-up transformer integrated in the nacelle. This increases mechanical loading of the tower. In that context, a transformer-less, high voltage, highly-reliable and compact converter system for nacelle installation would be an attractive solution for large offshore wind turbines. This paper, therefore, presents a transformer-less grid integration topology for PMSG based large wind turbine generator systems using modular matrix converters. Each matrix converter module is fed from three generator coils of the PMSG which are phase shifted by 120°. Outputs of matrix converter modules are connected in series to increase the output voltage and thus eliminate the need of a coupling step-up transformer. Moreover, dc-link capacitors found in conventional back-to-back converter topologies are eliminated in the proposed system. Proper multilevel output voltage generation and power sharing between converter modules are achieved through an advanced switching strategy. Simulation results are presented to validate the proposed modular matrix converter system, modulation method and control techniques.

Grid-side cascade inverter system as an interface for wind energy storage

Additional converters that are used to interface energy storage devices incur power losses as well as increased system cost and complexity. The need for additional converters can be eliminated if the grid side inverter can itself be effectively used as the interface for energy storage. This paper therefore proposes a technique whereby the grid side inverter can also be used as an interface to connect a supercapacitor energy storage for wind energy conversion systems. The proposed grid side inverter is formed by cascading a 3-level inverter and a 2-level inverter through a coupling transformer. The three-level inverter is the main inverter and it is powered by the rectified output of the wind turbine coupled AC generator while the 2-level auxiliary inverter is connected to the super capacitor bank that is used to compensate short term power fluctuations. Novel modulation and control techniques are proposed to address the problems associated with non-integer and dynamically-changing dc-link voltage ratio, which is caused by the random nature of wind. Simulation results are presented to verify the efficacy of the proposed system in suppressing short term wind power fluctuations.

Investigations of dielectric monitoring on an energised transformer oil–paper insulation system

Frequency domain spectroscopy (FDS) is being used to assess the insulation condition of oil–paper power transformers. However, it has to date only been implemented on de-energised transformers, which requires the transformers to be shut down for an extended period and may cause significant costs. To solve this issue, a newly improved monitoring method based on the FDS principle is proposed to implement the dielectric measurement on energised transformers. Moreover, a chirp waveform excitation and its novel processing method are introduced. Compared with the conventional FDS results, dielectric results from the energised insulation system have higher tanδ values because of the increased losses. To further understand the insulation ageing process, the effects of the geometric capacitance are removed from the measured imaginary admittance of the insulation system to enhance the ageing signature. The resulting imaginary admittance is then shown to correlate well with the central time constant in return voltage measurements results. The proposed methods address the issues on techniques used on energised transformers and provide a clue for on-line FDS diagnostic application.

Simulation study for analysis of online dielectric measurement problems on transformer insulation system

Determining the condition as well as the remaining life of an insulation system is essential for the reliable operation of large oil-filled power transformers. Frequency-domain spectroscopy (FDS) is one of the diagnostic techniques used to identify the dielectric status of a transformer. Currently, this technique can only be implemented on a de-energized transformer. This paper presents an initial investigation into a novel online monitoring method based on FDS dielectric measurements for transformers. The proposed technique specifically aims to address the real operational constraints of online testing. This is achieved by designing an online testing model extending the basic “extended Debye” linear dielectric model and taking unique noise issues only experienced during online measurements into account via simulations. Approaches to signal denoising and potential problems expected to be encountered during online measurements will also be discussed. Using fixed-frequency sinusoidal excitation waveforms will result in a long measurement times. The use of alternatives such as a chirp has been investigated using simulations. The results presented in the paper predict that reliable measurements should be possible during online testing.