❓ Mr. Wyatt questions the Education Department regarding a large sum in Yule Brook College's reserve fund, seeking a breakdown of its components and allocations. The response details the fund's composition and planned asset replacements.
AnsweredQoN 1150Legislative 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 $1,477,021.49 for Yule Brook 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) $1,477,021.49 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
YULE
BROOK
COLLEGE
(4127)
387,410.18
633,906.29
290,357.94
730,958.53
688,089.18
57,973.78
1,477,021.49
1 General Fund Balance = Opening Balance + Revenues - Expenses
2 Bank A/C = General Fund Balance + Reserves + Suspense A/C-Tax
(c) $688,089.18
(i) what assets are to be replaced?
(ii) how much has been allocated to replace each asset? ($)
Upgrade to Home Economics
4,000
Projectors
14,000
Carpet replacement due to extreme wear and water damage
107,000
Dimmer system and new lighting - planned next stage of upgrade to Performing Arts
6,000
Electric Sign
24,000
iPads
5,882
Laptops
39,204
Upgrade to photography and art rooms - needed for Year 7 commencement
20,000
Salaries - committed
389,060
Bus
76,000
Mirrors for PA
2,943
Total
688 089
(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
YULE
BROOK
COLLEGE
(4127)
387,410.18
633,906.29
290,357.94
730,958.53
688,089.18
57,973.78
1,477,021.49
1 General Fund Balance = Opening Balance + Revenues - Expenses
2 Bank A/C = General Fund Balance + Reserves + Suspense A/C-Tax
(c) $688,089.18
(i) what assets are to be replaced?
(ii) how much has been allocated to replace each asset? ($)
Upgrade to Home Economics
4,000
Projectors
14,000
Carpet replacement due to extreme wear and water damage
107,000
Dimmer system and new lighting - planned next stage of upgrade to Performing Arts
6,000
Electric Sign
24,000
iPads
5,882
Laptops
39,204
Upgrade to photography and art rooms - needed for Year 7 commencement
20,000
Salaries - committed
389,060
Bus
76,000
Mirrors for PA
2,943
Total
688 089
(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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