❓ A parliamentary question seeks clarification on the financial reserves of Canning College, specifically regarding the allocation of funds, asset replacement, and parent contributions. The answer provides a breakdown of the school's finances and reserve allocations.
AnsweredQoN 1134Legislative 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 $2,201,023.70 for Canning 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) $2,201,023.70 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
CANNING COLLEGE (4500)
109,238.35
3,944,046.29
4,040,506.77
12,777.87
1,956,986.41
231,259.42
2,201,023.70
1 General Fund Balance = Opening Balance + Revenues - Expenses
2 Bank A/C = General Fund Balance + Reserves + Suspense A/C-Tax
(c) $1,956,986.41
(i) what assets are to be replaced.
(ii) how much has been allocated to replace each asset.
Salary Reserve
1,914,252
Photocopiers
23,700
Server
15,000
Calculators
2,000
Data Projector
1,344
Video Camera
500
Student Meeting Room equip
190
Total - Balance to Question (c)
1,956,986
(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
CANNING COLLEGE (4500)
109,238.35
3,944,046.29
4,040,506.77
12,777.87
1,956,986.41
231,259.42
2,201,023.70
1 General Fund Balance = Opening Balance + Revenues - Expenses
2 Bank A/C = General Fund Balance + Reserves + Suspense A/C-Tax
(c) $1,956,986.41
(i) what assets are to be replaced.
(ii) how much has been allocated to replace each asset.
Salary Reserve
1,914,252
Photocopiers
23,700
Server
15,000
Calculators
2,000
Data Projector
1,344
Video Camera
500
Student Meeting Room equip
190
Total - Balance to Question (c)
1,956,986
(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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