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 Income

Enrolment 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

 

 

Expenditure

Salaries & 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