Revenues from tuition fees and per capita government funding are used to meet recurrent expenditure such as staff salaries, teaching resources and the servicing of loan facilities.
Operating surpluses are reinvested in the School by way of completing minor capital works, enhancing available ICT resources and contributing to major building projects.
The Building Fund allows tax-deductible donations to be made to the School and is vital for the ongoing refurbishment and maintenance of existing facilities. In addition to these funds the School uses its reserves and external loan funding to finance large-scale building projects.
State per capita funding amounted to 5.7% of total revenue. Total Australian Government per capita funding amounted to 13.8% of total revenue.
The School’s accounts are audited annually. The financial statements for 2016 complies with relevant accounting standards and legislation. They give a true and fair view of the financial position and performance of the School.
Income and Expenditure Statement as at 31 December 2016
Education Revenue
|
Tuition Fees Scholarships & Rebates Student Activities |
$21,006,642 ($1,934,980) $423,348 |
|
|
Total
|
$19,495,010
|
|
Grants, Subsidies & Donations
|
Commonwealth & State Government Grants Donations Income Interest Subsidy & Commonwealth Capital Grants Total |
$5,134,733 $18,167 $223,430 $5,376,330
|
Other IncomeEnrolment Fees Application Fees Miscellaneous Interest Received Profit on Sale of Fixed Assets Total
|
$360,920 $56,004 $275,322 $46,402 $9,918 $748,566 |
Gross Income
|
$25,619,906
|
ExpenditureSalaries & Associated Expenses Tuition Expenditure Administration Expenses Property Expenses Student Activities Total
|
$17,301,999 $721,744 $2,938,121 1,714,812 $223,866 $25,306,349 |
Operating Surplus |
$313,557
|
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