Mr. Wyatt asks about the financial status of Hedland Senior High School's reserve fund, specifically requesting a breakdown of the $2,041,809.57 figure. The answer provides a financial breakdown and clarifies the allocation of funds.

AnsweredQoN 1137Legislative Assembly
Asked
10 September 2013
Portfolio
Education

QuestionView source ↗

I refer to the list of Western Australia’s Richest 100 Public Schools that was printed in the West Australian on 30 August 2013 and sourced to the Department of Education and I ask in respect to the amount of $2,041,809.57 for Hedland Senior High School: (a) at what date was this amount standing in the school’s reserve fund; (b) what is the break-down of the components that make up this figure; (c) how much of this amount is allocated to the replacement of assets: (i) what assets are to be replaced; and (ii) how much has been allocated to replace each asset; (d) of the amount in the reserve fund, how much are parent contributions for school fee; and (e) of the amount in the reserve fund, how much is unallocated for any "specific purpose"?

AnswerView source ↗

Answered
16 October 2013
Responded by
Minister representing the Minister for Education
Response time
36 days
(a) $2,041,809.57 was total amount held the school's in bank account/s as at 30 June 2013. Included in this figure is the school's reserve fund.
(b)
School Name
Opening
Balance
Revenues
Expenses
General Fund Bal
1
Reserves
Suspense
A/C - Tax
Bank A/C
2
HEDLAND SHS (4053)
1,329,400.23
1,240,344.98
760,642.06
1,809,103.15
250,408.14
-17,701.72
2,041,809.57
1 General Fund Balance = Opening Balance + Revenues - Expenses
2 Bank A/C = General Fund Balance + Reserves + Suspense A/C - Tax
(c)  [Tabled Paper No]
(d) Not applicable. Parent contributions are not applied to reserve funds.
(e) Not Applicable. All funding in reserves is allocated - refer to Question (c).

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