Analysis of Variance - Tauranga Girls` College

Transcription

Tauranga Girls’ College
2014 Annual Report
and
Financial Statements
Tauranga Girls’ College Annual Report and Financial Statements 2014
School Number 0122
Table of Contents
Page
Annual Report
1
Principal report
2
2
Analysis of Variance
3
3
Contestable Funding
13
4
Statement of Resources
14
5
Members of the Board of Trustees
15
Financial Statements
1
Statement of Responsibility
16
2
Statement of Comprehensive Income
17
3
Statement of Changes in Equity
18
4
Statement of Financial Position
19
5
Notes to the Financial Statements
21
6
Independent Auditor’s Report
34
1
Principal’s Report
2014 has been another very strong year for Tauranga Girls’ College, as can be seen in the analysis of variance
pages that follow. Our NCEA outcomes were strong in Level 2 and 3 and we achieved the highest number of
scholarships ever, across a wide range of subjects. Supporting this academic success and reported on the
school website and via the newsletters are a huge range of successes at regional, national and world level
and just a few of these are highlighted in the remainder of this page.
In 2014 our school population contained approximately 40 International fee paying students, increasingly
shorter stay students who contributed valuable funding to the college, as well as being welcome members of
the school community.
Outstanding student successes in 2014 were the national awards gained by our Young Enterprise Girls,
including CEO of the Year, the four world champions and eighteen New Zealand representatives from our
school across sport, arts and music. We also had a junior student win the Australasian Asia Wise competition,
resulting in her job shadowing the British Ambassador in Wellington for a day.
A Future Problem solving team again travelled to America, one of our senior students won the regional
Young innovators competition and one student had artwork selected for presentation to the Prime Minister,
John Key. Students completed university papers in Economics, Mandarin, Mathematics, Computing, Te Reo
and German and one of our Mandarin students again won the regional Mandarin competitions in Rotorua.
We had two students selected via the Sheilah Winn Shakespeare festival to represent New Zealand and
travel to the Globe Theatre in Britain and staff, including the Principal, also travelled for professional
development overseas on sponsored study trips. The Principal was on sabbatical during term two of 2014.
Staffing remained stable, with very few appointments or resignations for 2014. The school professional
learning cycle continued to embed and both Kia Eke Panuku (Building on Success) and Positive Behaviour for
Learning (PB4L) professional development initiatives continued to be implemented.
Student leadership was strong, with a wide variety of activities provided by the four student councils and
enjoyed by students at all year levels. Fundraising for charities was also well supported and community
outreach to hospice, local schools and other groups very much appreciated by our local community.
Information technology resources were boosted by the purchasing of further sets of COTs (computers on
trolleys) for every block in the school, providing flexible access for all students to technology across the
curriculum. Linked to this was the full implementation of a wireless environment across the campus and
completion during the year of a Ministry of Education subsidised SNUP upgrade.
A continuing challenge in 2014 was the continuation of the remediation of our leaky buildings, with the
Administration Block upgrade followed by work on the Music and then Drama suites. Balancing “business as
usual” with the building remediation work to be done proceeded very smoothly and in 2014 we also
accomplished the completion of the Board of Trustees project to upgrade the school library as a modern
learning environment.
Pauline Cowens
Principal
2
Analysis of Variance against School Targets
Aim 1: To develop forward thinkers with a life-long commitment to learning
through high standards of student achievement and personal development.
Target 1:
Year 11 Māori girls will achieve Level 1 NCEA above the level of National
Māori girls
While the target for 2014 NCEA attainment focussed on Māori student achievement in NCEA level 1
the following graphs show trends for student achievement in the senior school as a context for that target.
All data is taken directly from NZQA sources. The percentage of achievement figures are for each year level
based on the number of students attempting the qualification in that year.
These figures do not account for students who achieve a qualification over a period of more than one year
e.g. Level 1 achieved in Year 12.
These graphs show our trend data over the past few years, including the gap between Māori student
achievement and that of the whole school along with a comparison between the two sets of data: National
girls’ achievement and that of other similar schools (decile 6 schools girls’ achievement).
We would expect some fluctuation in our student achievement figures due to the fact that we have a smaller
sample than the National girls’ cohort, but that we maintain our position relative to national outcomes over
time.
% of Y11 students achieving NCEA L1
Y11 NCEA L1 2014
95
90
85
80
75
70
65
60
55
50
Tauranga Girls' College
2008
2009
2010
2011
2012
2013
2014
74
70.3
78.4
76
83.9
84.1
82
National Girls
74.6
75
75
77.3
78.9
82.6
82.7
Decile 4-7 Girls
74.8
72.8
72.9
75.2
77.5
80.7
81.4
51.6
52.7
59.8
62.7
58.5
NZ Maori
3
Numeracy and literacy requirements for NCEA Level 1
Level One Literacy
%
100
95
90
85
80
75
70
65
60
55
50
2009
2010
2011
2012
2013
2014
All Students
80.3
82.5
86.8
Maori
67.1
63.3
78.6
92.6
93.5
87.45
85.8
83.78
82.1
Non Maori
84.5
88.2
90.6
95.1
Pacifika
96.6
90
77.77
81
Level One Numeracy
%
100
95
90
85
80
75
70
65
60
55
50
All Students
Maori
Non Maori
2009
2010
2011
2012
2013
2014
90.1
96.2
79.6
89.6
90.87
83.38
80
91.1
65.5
80
82.4
75.78
94.3
97.7
85
93
97.9
87
77.77
81
Pacifika
Of 9 students identifying as Pacific Island 81% achieved Level 1 literacy and numeracy
4
The Level 1 results for our Year 11 students show that maintenance of the improved success remains
challenging. Year 11 Māori girls’ achievement in NCEA Level 1 remains slightly ahead of National Māori Girls’
and mirrors the difference between the National girls’ and Māori girls’ achievement data. The success rate
for Māori girls did not exceed 65%, which was our target but was within reach of this target when allowing
for small sample size. The results for level 2 and level 3 for Māori students were much stronger and follow
this analysis statement. We had our best results ever for level 2 and 3, and also saw the gap between Māori
and non-Māori performance come very close to closing.
This is the fifth cohort to go through NCEA Level 1 with them, and all their teachers, having been part of the
implementation of the Te Kotahitanga professional development programme throughout their time at
Tauranga Girls’ College.
Y12 NCEA L2 2014
95
90
85
80
75
70
65
60
2008
2009
2010
2011
2012
2013
2014
82.8
83.6
89.1
90.2
89.8
92.1
92.6
National Girls
79.6
80
79.8
81.9
83.6
85.7
86.9
Decile 4-7 Girls
78.8
78.2
78.2
80.5
82.1
84.4
86
67.8
76.6
82.5
76.5
82.8
NZ Maori
Y13 NCEA L3 2014
95
90
85
80
75
70
65
60
55
50
45
2008
2009
2010
2011
2012
2013
2014
81.1
68.9
80.9
85.4
87.7
84.4
84.3
National Girls
75
74.8
74.2
75.4
76
79.2
78.8
Decile 4-7 Girls
72.7
71.4
71.7
73.1
73.9
76.8
76.1
68.3
70.5
48.8
76.5
82.8
NZ Maori
5
Target 2:
Excellence endorsements
 at Level 1 are above the rate of Decile 6 Girls’ >4% student attainment
 at Level 2 are above the rate of National Girls’ > 7%
 at Level 3 are above the rate of Decile 6 Girls’ >4%
NCEA Endorsements for All Students
Year 11 at Level One
NCEA L1 Endorsements All Students
60
50
40
30
20
10
0
2012
2013
2014
No endorsements
48.9
41.2
56.13
Merit
35.7
35
27.55
Excellence
15.4
23.9
16.32
Year 12 at Level Two
70
60
50
40
30
20
10
0
2012
2013
2014
No endorsements
59.5
55.7
62.73
Merit
24.1
32.2
25.08
Excellence
16.5
12.2
12.19
6
Year 13 at Level Three
70
60
50
40
30
20
10
0
2012
2013
2014
No endorsements
69.1
57.3
69.27
Merit
25.8
31.2
20.23
Excellence
5.1
11.5
10.5
2014 NCEA Endorsements by Ethnicity
Year 11 at Level One
L1 Endorsements by Ethnicity 2014
30
25
20
%
15
10
5
0
Non Maori
Maori
Pasifika
Merit
29
24.2
18
Excellence
20
8.42
0
7
Year 12 at Level Two
30
25
20
%
15
10
5
0
Non Maori
Maori
Pasifika
Merit
26.78
19.04
11
Excellence
13.83
6.3
0
Year 13 at Level Three
25
20
%
15
10
5
0
Non Maori
Maori
Pasifika
Merit
23.7
5.8
1
Excellence
11.4
5.8
1
As can be seen from the graphs above progress continues to be made with this target although the number
of students achieving merit or excellence endorsement has plateaued over the past three years. There has
also been a growth in the number of Māori students achieving merit and excellence, although a gap still
remains between their performance and that of non-Māori . This target will continue to be a focus for us.
8
Target 3:
Students in each junior cohort will progress more than 2 curriculum sub-levels
over the year in both literacy and numeracy as measured by e-asTTle.
The decision was made in 2014 to move away from e-asTTle testing in favour of PAT tests. The following
information shows curriculum level performance across junior school cohorts, but is not e-asTTle referenced.
Yr 9 GPA for Māori and Non Māori 2014
30
25
25
23
20
17
16
15
18
18
Maori
15
12
10
8
6
5
2
1
2
1
2
1
2
5
3
1
7
Non Maori
7
4
2
2
0
0
1B
1P
1A 2B
2P
2A 3B
3P
3A 4B
4P
4A 5B
5P
5A 6B
6P
6A
.
Yr 10 GPA for Māori and Non Māori 2014
30
26
25
20
20
17
15
Maori
12
10
10
7
6
5
7
6
4
2 22
1
3
1
33
87
11 11
8
Non Maori
8
7
4
3
0
0
1B
1P
1A 2B
2P
2A 3B
3P
3A 4B
4P
4A 5B
5P
5A 6B
6P
6A
9
Year 9 core subject Curriculum Levels as a % of totals
2014
70
62
60
50
41
40
10
9 7 9
11
48 46
English
27
25
15
Maths
34
33
30
30
20
45
PE
20
15 16
Sci
Social Studies
4
3
0
Curriculum Level 2 Curriculum Level 3 Curriculum Level 4 Curriculum Level 5 Curriculum Level 6
Year 10 core subject Curriculum Levels as a % of totals
2014
60
52 53
50
39
40
10
44
English
Maths
25 25 27 27
30
20
43
12
6 8 5
12
14 12 12 14
PE
18
10
11
15
14
Sci
Social Studies
1
0
Curriculum Level 2 Curriculum Level 3 Curriculum Level 4 Curriculum Level 5 Curriculum Level 6
The graphs on the junior school performance show the performance of the 2014 cohort over the last two
years, both as an overview of Māori and non-Māori performance and also by core subject. In order to have
made this progress with the Junior Diploma (the shift in numbers at entire curriculum levels), these students
must have shifted their performance by at least 2 sub-levels each year.
This target was a global one for both Year Nine and Year Ten and therefore averages out the performance of
students in the two extension classes with that of students in the booster class. While this target was
achieved, in 2015 there will be focus on the performance in context of identified groups of students within
each cohort and academic conferencing being introduced to create feedback and feed forward to students to
assist learning. Creating change in response to student need does require closer identification and targeting
and we have been focussing on collecting good quality benchmark data.
10
Aim 2: To provide inclusive learning environments that encourage participation in
academic, cultural and sporting arenas through a flexible, student centred
curriculum
Targets 1 to 4: A positive shift in levels of key competencies implementing PB4L, improved student
attendance to meet MoE benchmark of 90% at all levels, positive involvement in
activities outside the classroom and positive shift in levels of learning behaviours
Students in each junior cohort will progress more than 2 curriculum sub-levels
These targets areover
all based
in theinjunior
andand
in establishing
learning
the year
bothschool
literacy
numeracy positive
as measured
byenvironments,
e-asTTle. in support
of these targets all students were monitored in their approach to learning through learning competencies
and all tutors and teachers were given attendance feedback each week.
Tutors and teachers called home to check on attendance and to establish positive relationships with
members of their tutor groups. Extra-curricular involvement in the junior school was monitored via the junior
diploma school wide participation statistics.
Through 2014 all parts of this target showed improvement, with intermittent attendance in particular being
addressed. Records of data shared with teachers and tutors are held by the senior leadership team and
middle management. In 2015 academic conferencing by tutors will be added to the strategies used to
address student engagement.
Aim 3: To demonstrate commitment to biculturalism and the principles of the
Treaty of Waitangi acknowledging the unique place of Māori, and to respect all
ethnic groups represented at the school.
Target 1:
Kia Eke Panuku (Building on Success) is implemented across the school, through
observations in all classrooms, co-construction action meetings and building of
community links.
The college successfully transitioned from the Te Kotahitanga Initiative to involvement in Building on Success,
later titled Kia Eke Panuku, with senior and middle leadership involved in 2014. The initiative is led by a
facilitating team that includes a variety of teaching and leadership backgrounds.
The layers of school leadership involved in (Building on Success), Kia Eke Panuku led to the formation of a
new team to implement this initiative. Acton planning was one key area of change and co-construction
meetings one area of continuity of practice from 2013.
The work done in 2014 was both to maintain the classroom focus and also to build on the professional
learning cycle to embed Kia Eke Panuku practices.
11
Aim 4: To continue the promotion of Tauranga Girls’ College as the preferred
provider of quality education for young women.
Target 1:
Internal networking of the aims, goals and objectives for learning, as well as student
success promotes awareness within the school of the quality of education provision
In 2014 the school newsletter was available on line and the frequency of newsletters was bi-monthly, with
one being solely on line and the other available in both print and electronic form. This increased the
availability of information to the community of Tauranga. An electronic sign was also installed at the front of
the school to provide updated information to our school community.
Improvements in academic performance, gaining of scholarships and sporting and arts successes all provided
evidence that was communicated to the wider community and confirms the quality of education available at
the college.
The parent portal to KAMAR continued to be popular means for students and their families to access on-line
attendance, academic results, reports and participation records in real time.
Improved and more frequent communication was one way to increase awareness of the Tauranga Girls’
College brand. On-line, real time communication enhanced both our brand and profile.
Target 2:
External networking of the aims, goals and objectives for learning, as well as student
success promotes awareness in the wider community the school of the quality of
education provision
The college website, professionally redesigned and revamped in 2007 to include a content management
system that allows more people access to placing material on the site was further adjusted in 2014 to
increase editability and access so that more material could be added and the site be kept more up to date.
Daily Notices, the bi-monthly newsletter, Board minutes, the Prospectus and all Principal’s reports are
available to parents through the site. The number of hits on the website increased throughout 2014.
The website continued to be increasingly utilised in 2014 as issues of access and expertise in using the editing
facilities were overcome, despite the lack of time available to undertake training.
The website itself is the school’s public face and communicates general information. Portals for Moodle and
the on-line learning environment developed during 2014 to be a very useful tool for parents and students
and supported the website by providing the flexibility of sustainable access for teaching and learning.
12
Contestable Funding 2014
In 2014 Tauranga Girls’ College was involved in the following initiatives for which contestable funding was
available:



Attendance Service – E-case $118,978
Gateway $55,920
Kiwisport Funding $32,082
Milestone reporting for all of these initiatives was completed to deadlines, targets met and feedback
received from the initiative coordinators. Milestone report information was included in the Principal’s
reporting to the Board of Trustees monthly meetings and where written feedback was received this was
tabled as correspondence.
The Kiwisport funding was used to support the Sports Co-ordinator and Sports Administrators salaries.
The college received $32,082 in Kiwisport funding in 2014, which was used to support:



Sport Co-ordinator and Sports Administrator salaries, supporting
o their roles in coordinating publicity
o enrolment
o equipment and support of existing and new sports in 2014
o increased student participation rate
Lunchtime sports programme
o training of sports leaders
o on-going resourcing of equipment
o support of the daily sports activities
Academy enrolment, training and practices for netball and other codes
13
Statement of Resources
School roll and days open
The school roll at:
1 March 2014 1 March 2013 1 March 2012
1458.2
1513
1518
The school was open for 380 half days in 2014 (2013: 380)
Physical resources
Tauranga Girls' College occupies a 10.7479 hectare site with road frontage on Cameron Road and 22nd
Avenue.
Buildings are single and multi-storey, brick-concrete and weatherboard. There are 14 relocatable
buildings. Additional facilities include a gymnasium complex and a dual purpose facility of a Year 13
Common Room during the school day and Sports Pavilion at other times and an International Centre.
Specialist facilities include:
Multi-resource library
1½ playing fields
7 netball/tennis courts
35 metre, 7 lane, heated pool
Sports hall
Gymnasium, Recreation room, Weights room
Assembly/Activity hall
Drama/Video studio
Whare wananga
6 Networked Computer Laboratories
3 Bookable Computer Suites
5 Technology Education rooms
10 Science laboratories
Canteen
Counsellor and deans' suites
On-site caretaker house
Bus bay
Music suite
Graphic art suite
International student building
Health Centre
Careers Centre
Pauline Cowens
Principal
Date: 18 May 2015
14
Members of the Board of Trustees
Name
Position
How position on
Board gained
Occupation
Term
expired/expires
Stephen Boyle
Parent rep
Elected May 2013
May 2016
Dr Andrew Chancellor Parent rep
Elected May 2013
Company
Director
Doctor
Megan Cleverley
Parent rep
Deputy
Chairperson
Elected May 2013
Manager
May 2016
Lesley Jensen
Parent rep
Chairperson
Elected May 2013
Community
Magistrate
May 2016
Mrs Pauline Cowens
Principal
Appointed November 2001 Principal
Permanent
Tess Scully
Staff rep
Elected May 2013
Teacher
May 2016
Kevin Turanga
Parent rep
Elected May 2013
Youth Worker
May 2016
Paris Taniwha
Student Rep
Elected September 2013
Student
September 2014
Molly Alton
Student Rep
Elected September 2014
Student
September 2015
May 2016
15
Statement of Responsibility
The Board of Trustees has pleasure in presenting the annual report of Tauranga Girls’ College, incorporating
the financial statements and the auditor’s report, for the year ended 31 December 2014.
The Board accepts responsibility for the preparation of the annual financial statements and the judgements
used in these statements.
The management (including the Principal and others as directed by the Board) accepts responsibility for
establishing and maintaining a system of internal control designed to provide reasonable assurance as to the
integrity and reliability of the school’s financial reporting.
In the opinion of the Board and management, the annual financial statements for the financial year fairly
reflect the financial position and operations of the school.
During the 2012 year the Ministry of Education introduced a new payroll system, Novopay, which has
resulted in many errors. To the best of our knowledge, all material matters are properly reflected in the
financial statements.
The school’s 2014 financial statements are authorised for issue by the Board Chairperson and Principal.
Chairperson
Principal
Date: 18 May 2015
Date: 18 May 2015
16
Statement of Comprehensive Income
For the year ended 31 December 2014
Notes
2014
2014
2013
Actual
Budget
Actual
$
$
$
Income
Government grants
2
11,861,714
12,224,641
11,794,957
Local fundraising
3
65,193
0
133,496
Other income
4
1,357,658
1,229,979
1,235,760
69,136
62,000
62,219
13,353,701
13,516,620
13,226,432
Interest
Expenditure
Fundraising (costs of raising funds)
3
0
0
0
Other income expenditure
4
336,125
328,900
317,642
Learning resources
5
8,514,597
8,817,744
8,325,940
Administration
6
1,084,196
1,074,549
1,105,490
Property
7
2,985,770
2,929,427
2,989,943
Depreciation
8
398,003
312,000
360,480
13,318,691
13,462,620
13,099,495
Net Surplus (Deficit)
35,010
54,000
126,937
Total comprehensive income
35,010
54,000
126,937
The above Statement of Comprehensive Income should be read in conjunction with the accompanying notes.
17
Statement of Changes in Equity
Equity at the start of the year
2014
2014
2013
Actual
Budget
Actual
$
$
$
2,476,790
2,476,790
2,320,655
35,010
54,000
126,937
0
0
29,198
2,511,800
2,530,790
2,476,790
Total comprehensive income
Ministry capital contribution for equipment
Equity at the end of the year
Reserved Equity
Reserved equity comprises funds that have been received by the School for a specific purpose.
The School guarantees to hold sufficient monies to enable the funds to be used for their intended purpose at
any time.
The school is not required to repay these funds, however.
Reserves
Opening Balance
2014
2014
2013
Actual
Budget
Actual
$
$
$
303,498
303,498
269,548
(145,423)
0
(94,391)
Additional funds retained for future expenditure
143,085
0
128,341
Closing Balance
301,160
303,498
303,498
(2,338)
0
33,950
Funds released for expenditure
Net movement in reserves (including trusts and bequests)
The above Statement of Changes in Equity should be read in conjunction with the accompanying notes.
18
Statement of Financial Position
As at 31 December 2014
Notes
2014
2014
2013
Actual
Budget
Actual
$
$
$
Equity
2,511,800
2,530,790
2,476,790
Total Equity
2,511,800
2,530,790
2,476,790
Represented by:
Current Assets
Cash and cash equivalents
9
778,998
969,685
769,685
Accounts receivable
10
874,999
939,468
939,468
20,999
8,340
8,340
1,000,000
1,000,000
1,200,000
2,674,996
2,917,493
2,917,493
Prepayments
Investments
11
Current Liabilities
Accounts payable
13
1,131,004
1,034,485
1,034,485
Income received in advance
14
696,823
655,644
655,644
Provision for cyclical maintenance
15
29,750
185,410
185,410
Funds held for capital works projects
16
50,278
174,417
174,417
Funds Held on Behalf of Tauranga Transport Network
17
169,538
213,649
213,649
2,077,393
2,263,605
2,263,605
597,603
653,888
653,888
Working Capital Surplus (Deficit)
19
Non-current Assets
Property, plant and equipment
12
2,064,938
2,022,565
1,968,565
2,064,938
2,022,565
1,968,565
150,741
145,663
145,663
150,741
145,663
145,663
2,511,800
2,530,790
2,476,790
Non-current Liabilities
Provision for cyclical maintenance
Net Assets
15
The above Statement of Financial Position should be read in conjunction with the accompanying notes.
20
Notes to the Financial Statements
1. Statement of Significant Accounting Policies
a) Reporting Entity
Tauranga Girls’ College (the School) is a Crown entity as specified in the Crown Entities Act 2004 and a school as
described in the Education Act 1989. The Board of Trustees is of the view the School is a public benefit entity for
financial reporting purposes.
b) Basis of Preparation
Financial reporting standards applied
The Education Act 1989 requires the School, as a Crown entity, to prepare financial statements in accordance with
generally accepted accounting practice. The financial statements have been prepared in accordance with generally
accepted accounting practice in New Zealand, applying New Zealand Equivalents to International Financial Reporting
Standards (NZ IFRS) as appropriate to public benefit entities that qualify for differential reporting.
Differential reporting
The School qualifies for differential reporting exemptions because it is not publicly accountable as defined in the
Framework for Differential Reporting (the Framework) and it is not large. Many of the reporting exemptions available
under the Framework have been applied.
Measurement base
The financial statements are prepared on the historical cost basis unless otherwise noted in a specific accounting policy.
Presentation currency
These financial statements are presented in New Zealand dollars.
Specific accounting policies
The accounting policies used in the preparation of these financial statements are set out below. The policies have been
consistently applied to all the years presented.
c) Income Recognition
Government grants
Operational grants are recorded as income as received. Teachers’ salaries grants are not received in cash by the school
but are paid directly to teachers by the Ministry of Education (the Ministry). They are recorded as income in the salary
period they relate to. Other grants are recorded as income as received unless there are unfulfilled conditions attaching
to the grant, in which case the amount relating to the unfulfilled conditions is recognised as a liability and released to
income as the conditions are fulfilled.
Grants for the use of land and buildings are also not received in cash by the School as they equate to the deemed
expense for using the land and buildings which are owned by the Crown. Use of land and building grants are recorded as
income in the period the school uses the land and buildings.
21
Donations
Donations, gifts and bequests are recorded as income when their receipt is formally acknowledged by the School.
Interest income
Interest income on cash and cash equivalents and investments is recorded as income in the period it is earned.
d) Use of Land and Buildings Expense
The property from which the School operates is owned by the Crown and managed by the Ministry on behalf of the
Crown. The School’s use of the land and buildings as occupant is based on a property occupancy document as gazetted
by the Ministry. The expense is based on an assumed market rental yield on the value of land and buildings as used for
rating purposes. This is a non-cash expense that is offset by a non-cash grant from the Ministry.
e) Operating Lease Payments
Payments made under operating leases are recognised in the Statement of Comprehensive Income on a straight line
basis over the term of the lease.
f) Cash and Cash Equivalents
Cash and cash equivalents include cash on hand, bank balances, deposits held at call with banks, and other short term
highly liquid investments with original maturities of three months or less, and bank overdrafts. The carrying amount of
cash and cash equivalents represent fair value.
g) Accounts Receivable
‘Accounts Receivable’ represents items that the School has issued invoices for, but has not received payment for at year
end. They are initially recorded at fair value and subsequently recorded at the amount the School realistically expects to
receive. A provision for impairment of Accounts Receivable is established where there is objective evidence the School
will not be able to collect all amounts due according to the original terms of the debt.
h) Investments
Investments are held with registered trading banks and are classified as current assets if they have maturities of
between three months and one year. Those with maturities greater than 12 months after the balance date are
classified as non-current assets.
After initial recognition investments are measured at amortised cost using the effective interest method less
impairment.
Share investments held by the School are measured at fair value. If shares do not have a quoted market price in an
active market and fair value cannot be reliably measured, the shares are measured at cost. Any movements in shares
measured at fair value are recognised in equity.
At balance date the School assesses whether there is any objective evidence that an investment is impaired. Any
impairment loss is recorded as an expense in the Statement of Comprehensive Income.
The School has met the requirements under section 73 of the Education Act 1989 in relation to the acquisition of
securities.
i) Property, Plant and Equipment
Land and buildings owned by the Crown are excluded from these financial statements. The Board’s use of the land and
buildings as ‘occupant’ is based on a property occupancy document.
22
Improvements to buildings owned by the Crown are recorded at cost, less accumulated depreciation and impairment
losses.
Property, plant and equipment are recorded at cost or, in the case of donated assets, fair value at the date of receipt,
less accumulated depreciation and impairment losses. Cost or fair value as the case may be, includes those costs that
relate directly to bringing the asset to the location where it will be used and making sure it is in the appropriate
condition for its intended use.
Property, plant and equipment acquired with individual values under $1,000 are not capitalised, they are recognised as
an expense in the Statement of Comprehensive Income.
Gains and losses on disposals (i.e. sold or given away) are determined by comparing the proceeds received with the
carrying amounts (i.e. the book value). The gain or loss arising from the disposal of an item of property, plant and
equipment is recognised in the Statement of Comprehensive Income.
j) Depreciation
Property, plant and equipment except for library resources are depreciated over their estimated useful lives on a
straight line basis. Library resources are depreciated on a diminishing value basis. Depreciation of all assets is reported
in the Statement of Comprehensive Income.
The estimated useful lives of the assets are:
Building improvements – Crown
50 years
Furniture and equipment
10 years
Information and communication technology
5 years
Motor vehicles
5 years
Textbooks
12.5% Diminishing value
Library resources
12.5% Diminishing value
k) Accounts payable
‘Accounts Payable’ represents liabilities for goods and services provided to the School prior to the end of the financial
year which are unpaid. Accounts Payable are recorded at the amount of cash required to settle those liabilities. The
amounts are unsecured and are usually paid within 30 days of recognition.
l) Employee Entitlements
Salary Accruals
Salary accruals mainly reflect annual leave owing to teachers and ancillary staff and are recognised in respect of
employees' services to balance date and are measured at the amounts expected to be paid when the liabilities are
settled. There is a corresponding teacher’s salaries grant receivable from the Ministry to fund the liability.
Leave Accruals
No provision is required to be recognised for sick leave for any teachers, irrespective of whether a school is above its
teaching entitlement as in practice most teacher sick leave is grant funded by the Ministry.
23
m) Income Received in Advance
Income received in advance relates to fees received from international and hostel students where there are unfulfilled
obligations for the School to provide services in the future. The fees are recorded as revenue as the obligations are
fulfilled and the fees earned.
The School holds sufficient funds to enable the refund of unearned fees in relation to international students, should the
School be unable to provide the services to which they relate.
n) Funds held in trust
Funds are held in trust where they have been received by the School for a specified purpose. The School holds sufficient
funds to enable the funds to be used for their intended purpose at any time.
o) Provision for Cyclical Maintenance
The property from which the School operates is owned by the Crown, and is vested in the Ministry. The Ministry has
gazetted a property occupancy document that sets out the Board’s property maintenance responsibilities. The Board is
responsible for maintaining the land, buildings and other facilities on the School site in a state of good order and repair.
Cyclical maintenance, which involves painting the interior and exterior of the School, makes up the most significant part
of the Board’s responsibilities outside day-to-day maintenance. The provision for cyclical maintenance represents the
obligation the Board has to the Ministry and is based on the Board’s ten year property plan (10YP).
p) Financial Assets and Liabilities
The School’s financial assets comprise cash and cash equivalents, accounts receivable, GST receivable and investments.
All of these financial assets, except for investments that are shares, are categorised as “loans and receivables” for
accounting purposes in accordance with financial reporting standards.
Investments that are shares are categorised as “available for sale” for accounting purposes in accordance with financial
reporting standards.
The School’s financial liabilities comprise accounts payable, funds held on behalf of the Ministry of Education, painting
contract liability, provision for cyclical maintenance and GST payable. All of these financial liabilities are categorised as
“financial liabilities measured at amortised cost” for accounting purposes in accordance with financial reporting
standards.
q) Shared Funds
Shared Funds are held on behalf of participating schools within a cluster of schools. The School holds sufficient funds to
enable the funds to be used for their intended purpose.
r) Goods and Services Tax (GST)
The financial statements have been prepared on a GST exclusive basis, with the exception of accounts receivable and
accounts payable which are stated as GST inclusive.
s) Budget Figures
The budget figures are extracted from the School budget that was approved by the Board of Trustees.
24
2. Government Grants
2014
2014
2013
Actual
Budget
Actual
$
$
$
Operational grants
2,529,865
2,541,637
2,497,452
Teachers salaries grant
7,057,721
7,421,850
6,963,403
Use of land and buildings grant (state schools only)
1,994,814
2,000,000
2,084,494
279,314
261,154
249,608
11,861,714
12,224,641
11,794,957
Other government grants
3. Local Fundraising
Local funds raised within the School's community are made up of:
Income
2014
2014
2013
Actual
Budget
Actual
$
$
$
Donations
42,000
0
111,779
Fundraising
23,193
0
21,717
65,193
0
133,496
65,193
0
133,496
Expenditure
Fundraising (costs of raising funds)
4. Other Income
2014
2014
2013
Actual
Budget
Actual
$
$
$
94,477
93,272
95,796
685,807
573,020
590,567
6,087
6,087
6,087
International student fees
529,204
537,600
490,227
Transport Network Group
42,083
20,000
53,083
1,357,658
1,229,979
1,235,760
7,012
2,500
2,822
329,113
326,400
314,820
336,125
328,900
317,642
1,021,533
901,079
918,118
Income
Activities
Curriculum & Extra-Curricular
Canteen
Expenditure
Activities
International students
Net surplus for the year
25
5. Learning Resources
Curricular
Extra-curricular activities
Library resources
Other Support Programs
Employee benefits - salaries
Staff development
2014
2014
2013
Actual
Budget
Actual
$
$
$
761,472
740,542
720,768
68,322
80,000
60,202
388,628
326,300
345,110
9,732
9,836
9,928
136,801
144,920
137,687
7,057,721
7,421,850
6,963,403
91,921
94,296
88,842
8,514,597
8,817,744
8,325,940
6. Administration
Audit fees
2014
2014
2013
Actual
Budget
Actual
$
$
$
7,170
7,170
6,970
12,840
13,380
12,705
8,658
7,795
18,300
Communication
38,405
38,530
38,835
Consumables
18,641
18,300
18,140
Operating lease - Copyplan
92,693
85,000
80,686
Postage
13,714
14,000
13,369
Other
17,115
28,874
24,290
852,627
837,500
868,273
21,133
22,000
23,062
1,200
2,000
860
1,084,196
1,074,549
1,105,490
Board of Trustees fees
Board of Trustees expenses
Insurance
Service providers, contractors and consultancy
7. Property
2014
2014
2013
Actual
Budget
Actual
$
$
$
24,435
21,500
25,642
Consultancy and contract services
322,009
315,500
313,347
Cyclical maintenance provision
117,760
107,627
107,627
47,521
17,500
14,498
Caretaking and cleaning consumables
Grounds
26
Heat, light and water
186,044
197,000
194,395
15,831
16,300
15,808
Repairs and maintenance
128,004
105,500
96,753
Use of land and buildings
1,994,814
2,000,000
2,084,494
149,352
148,500
137,379
2,985,770
2,929,427
2,989,943
Rates
The use of land and buildings figure represents 8% of the school’s total property value. Property values are
established as part of the nation-wide revaluation exercise that is conducted every 30 June for the Ministry of
Education’s year-end reporting purposes. Following consultation, certain changes to the revaluation methodology
were adopted as part of the 30 June 2012 revaluation exercise. These changes improved the previous revaluation
methodology, and have resulted in an improvement to the quality of calculations. These improvements will be
carried forward into future revaluations.
8. Depreciation
2014
2014
2013
Actual
Budget
Actual
$
$
$
Building improvements - Crown only
63,467
57,000
65,980
68,557
60,000
69,256
189,666
132,000
152,385
1,940
1,000
1,180
65,351
54,000
62,809
9,022
8,000
8,870
398,003
312,000
360,480
Motor vehicles
Textbooks
Library resources
9. Cash and Cash Equivalents
Cash on hand
2014
2014
2013
Actual
Budget
Actual
$
$
$
1,600
1,600
1,600
Current account 1
349,912
963,085
368,554
Current account 2
5,000
5,000
0
422,486
0
399,531
778,998
969,685
769,685
Tauranga Bus Network Account
Of the $778,998 Cash and Cash Equivalents, $50,278 is held by the School on behalf of the Ministry. These funds are
required to be spent in 2015 on Crown-owned school buildings under the School's Five-year Property Plan.
27
10. Accounts Receivable
Debtors
Interest accrued
Teacher salaries grant
2014
2014
2013
Actual
Budget
Actual
$
$
$
230,797
299,473
299,473
18,247
21,126
21,126
625,955
618,869
618,869
874,999
939,468
939,468
11. Investments
Short-term deposits with maturities between three months and one
year
2014
2014
2013
Actual
Budget
Actual
$
$
$
1,000,000
1,000,000
1,200,000
12. Property, Plant and Equipment
Cost
Depreciation
Net Book
Value
$
$
$
Accumulated
2014
Building improvements - Board funded
868,869
(326,726)
542,143
2,423,142
(2,065,499)
357,643
3,777,597
(3,186,066)
591,531
97,890
(83,767)
14,123
1,195,289
(705,479)
489,810
226,732
(157,044)
69,688
8,589,519
(6,524,581)
2,064,938
868,869
(263,259)
605,610
2,292,754
(1,996,943)
295,811
3,505,646
(2,996,400)
509,246
83,625
(81,827)
1,798
1,130,580
(640,128)
490,452
213,669
(148,021)
65,648
8,095,143
(6,126,578)
1,968,565
Motor Vehicles
Textbooks
Library resources
2013
Building improvements - Board funded
Motor Vehicles
Textbooks
Library resources
28
Net book value reconciliation
Net book value at start of year
2014
2013
$
$
1,968,565
1,966,799
0
0
Less: Depreciation charge for the year
398,003
360,480
Add: Asset acquisition at cost
494,376
362,246
2,064,938
1,968,565
Less: Disposals at book value
Net book value at year end
13. Accounts Payable
Creditors
2014
2014
2013
Actual
Budget
Actual
$
$
$
380,491
305,692
305,692
10,102
10,075
10,075
625,955
618,869
618,869
Employee benefits - leave accrual
114,456
99,849
99,849
1,131,004
1,034,485
1,034,485
Banking staffing overuse (to be repaid from July grant)
The carrying value of payables approximates their fair value.
14. Income Received in Advance
2014
2014
2013
Actual
Budget
Actual
$
$
$
International student fees
462,823
419,004
419,004
Homestay fees
234,000
236,640
236,640
696,823
655,644
655,644
29
15. Provision for Cyclical Maintenance
2014
2014
2013
Actual
Budget
Actual
$
$
$
Provision at the start of the year
331,073
331,073
290,518
Increase to the provision during the year
117,760
107,627
107,627
(268,342)
(107,627)
(67,072)
180,491
331,073
331,073
29,750
185,410
185,410
150,741
145,663
145,663
180,491
331,073
331,073
Use of the provision during the Year
Provision at the end of the year
Current Liability
Non Current Liability
The board has a cash management plan to ensure that sufficient cash is available to meet all maintenance obligations
as they fall due over the next 10 years. The amount recognised as a provision is the best estimate of the expenditure
required to settle the present obligations at 31 December 2014. Present obligations are identified in the school's
current 10-year property plan approved by the Ministry of Education on 12 November 2012. The provision has not
been adjusted for inflation and the effect of the time value of money.
16. Funds Held for Capital Works Projects
During the year the school received and applied funding from the Ministry of Education for the following capital works
projects:
2014
Opening
Receipts
Payments
Balance
from MOE
Closing
Balance
J Block Carpets
Complete
(33,731)
33,731
0
0
Complete
(42,748)
42,748
0
0
0
58,500
(8,222)
50,278
Complete
249,233
272,464
(521,697)
0
Complete
1,663
0
(1,663)
0
174,417
407,443
(531,582)
50,278
Pool Security Fence
Boiler Project
in progress
Library
Whare
Totals
30
2013
Opening
Receipts
Payments
Closing
Balance
from MOE
in progress
0
0
(33,731)
(33,731)
in progress
0
0
(42,748)
(42,748)
Complete
(9,281)
0
9,281
0
in progress
(20,668)
300,000
(30,099)
249,233
in progress
(11,886)
169,962
(156,413)
1,663
(41,835)
469,962
(253,710)
174,417
2014
2013
Actual
Actual
$
$
Balance
J Block Carpets
Pool Security Fence
Swimming Pool Pump
Library
Whare
Totals
17. Funds Held on Behalf of Tauranga Transport Network
Funds held at beginning of the year
Funds received from the Ministry of Education and
ticket sales
Funds spent on behalf of the Network
213,649
208,735
2,432,541
2,352,391
(2,476,652)
(2,347,477)
169,538
213,649
Funds held at year end
18. Related Party Transactions
The school is an entity controlled by the Crown, and the Crown provides the major source of revenue to the
school. The school enters into transactions with other entities also controlled by the Crown, such as government
departments, state-owned enterprises and other Crown entities. Transactions with these entities are not disclosed
as they occur on terms and conditions no more or less favourable than those that it is reasonable to expect the
school would have adopted if dealing with that entity at arm’s length.
31
19. Remuneration
Board of Trustee and Committee members
The total value of the remuneration paid or payable to trustees of the Board and Committee
members was as follows:
2014
2013
Actual
Actual
$
$
12,480
12,705
0
0
12,480
12,705
Board of Trustees
Committee members
Principal
The total value of remuneration paid or payable to the Principal is in the following bands:
2014
2013
Actual
Actual
$000
$000
170 - 180
170 - 180
Benefits and other emoluments
0
0
Termination benefits
0
0
Salaries and other short tem employee benefits:
Salary and other payments
Other Employees
Four other employees received total remuneration over $100,000 (2013: Four).
The disclosure for 'Other Employees' does not include remuneration of the Principal.
20. Compensation and other Benefits upon leaving
The total value of compensation or other benefits paid or payable to persons who ceased to be trustees, committee
members, or employees during the financial year in relation to that cessation and number of persons to whom all or
part of that total was as follows:
2014
2013
Actual
Actual
Total value
$0
$0
Number of people
0
0
32
21. Contingencies
There are no contingent liabilities (except as noted below) and no contingent assets as at 31 December 2014
(Contingent liabilities and assets at 31 December 2013: nil).
22. Commitments
(a) Capital Commitments
There were no Capital commitments as at 31 December 2014.
(Capital commitments at 31 December 2013: $463.940)
(b) Operating Commitments
As at 31 December 2014 the Board has entered into the following contracts:
(1) operating lease of a photocopier; and
(2) Mini van lease
(3) operating lease of laptops
2014
2013
Actual
Actual
$
$
No later than one year
82,190
404,532
Later than one year and no later than five years
44,147
685,918
0
0
126,337
1,090,450
Later than five years
33
34
35
36

Analysis of Variance - Tauranga Girls` College

Transcription

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