❓ Mr. Wyatt questions the Education Department regarding the $1.8 million reserve fund of John Curtin College of the Arts, seeking a breakdown of its components, asset allocation, and parent contributions. The response provides a financial breakdown and clarifies the allocation of funds.
AnsweredQoN 1141Legislative Assembly
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 $1,826,419.48 for John Curtin College of the Arts: (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) $1,826,419.48 was the total amount held in the school's 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
JOHN CURTIN COTA (4025)
289,535.19
1,705,925.60
1,454,842.98
540,617.81
1,192,804.76
92,996.91
1,826,419.48
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).
(b)
School Name
Opening
Balance
Revenues
Expenses
General
Fund Bal
1
Reserves
Suspense
A/C - Tax
Bank A/C
2
JOHN CURTIN COTA (4025)
289,535.19
1,705,925.60
1,454,842.98
540,617.81
1,192,804.76
92,996.91
1,826,419.48
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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