❓ A WA parliamentary question seeks clarification on the financial status of Gilmore College, specifically regarding its reserve fund. The answer provides a breakdown of the school's finances and clarifies the allocation of funds.
AnsweredQoN 1136Legislative 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 $2,057,473.53 for Gilmore College: (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) $2,057,473.53 was 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
GILMORE
COLLEGE
(4031 )
891,279.70
1,026,473.91
919,924.29
997,829.32
1,035,067.81
24,576.40
2,057,473.53
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
GILMORE
COLLEGE
(4031 )
891,279.70
1,026,473.91
919,924.29
997,829.32
1,035,067.81
24,576.40
2,057,473.53
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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