Wintec Annual Report 2009

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FINANCIAL PERFORMANCE NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2009 20 CHILD CARE SUMMARY ACTUAL BUDGET ACTUAL 2009 2009 2008 $000 $000 $000 Income Government grants (children under two) 195 200 199 Government grants (children over two) 89 76 75 Government grants (free Early Childhood Education) 242 228 202 Government grants (PRT support) 3 - - Incentive grant 4 4 5 Fees Work and Income New Zealand (WINZ) 137 120 131 Other fees 99 83 119 769 711 731 Expenses Staffing 546 532 526 Other Costs 96 62 98 642 594 624 TRADING SURPLUS 127 117 107 PROVISIONALLY REGISTERED TEACHERS SUPPORT GRANT Grants were received for three provisionally registered teachers and were spent in the following way: Paid teacher release time - - - Professional Development 178 - - Subscriptions - - - Stationery/Ink/Art Supplies - - - Resources/Books 1,063 - - Equipment 3,332 - - TOTAL 4,573 - - 78 _ Wintec Annual Report 2009
FINANCIAL PERFORMANCE NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2009 21 EVENTS AFTER THE BALANCE SHEET DATE No significant events occurred after balance date requiring adjustments to any amount recognised in the financial report. 22 AUDITORS’ REMUNERATION CONSOLIDATED PARENT 2009 2008 2009 2008 $000 $000 $000 $000 Audit of financial statement 88 86 88 86 Prior year audit costs 23 - 23 - Internal audit services not provided by Audit NZ 104 203 104 203 Other services - - - - 215 289 215 289 23 PERFORMANCE AGAINST BUDGET Revenue was above budget by $4.6m. TEC funding was higher due to replacing contracted EFTS with higher value core EFTS. Domestic and International tuition fees were higher than budgeted due to the achievement of higher than expected EFTS in all areas Investment income was also higher than budget due to higher than expected cash balances being held. Costs have exceeded budget by $2.9m, primarily due to increased operating costs associated with the achievement of the additional revenue e.g. additional overseas commission, additional costs associated with delivering increased EFTS etc. There was also increased salary costs associated with servicing the additional EFTS as well as higher than expected restructuring costs and leave accrual. Wintec Annual Report 2009 _ 79
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Wintec Annual Report 2009
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OVERVIEW Overview of Wintec AS AN A
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OVERVIEW 1995 Land is purchased on
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OVERVIEW Chair & Chief Executive’
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OVERVIEW 9 _ Wintec Annual Report 2
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CHAIR & CHIEF EXECUTIVE’S REPORT
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OVERVIEW Highlights 13 _ Wintec Ann
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HIGHLIGHTS HIGH SPEED CONNECTION TO
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HIGHLIGHTS ENHANCING ACADEMIC QUALI
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HIGHLIGHTS MEETING THE NEEDS OF EMP
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HIGHLIGHTS RELEVANT RESEARCH AND TE
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HIGHLIGHTS ‘ WE RECEIVED THE GLOB
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HIGHLIGHTS ‘ KIA HORA TE MARINO K
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Page 29 and 30: OVERVIEW Financial Performance 29 _
Page 31 and 32: FINANCIAL PERFORMANCE
Page 33 and 34: FINANCIAL PERFORMANCE STATEMENT OF
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Page 41 and 42: FINANCIAL PERFORMANCE NOTES TO THE
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Page 83 and 84: FINANCIAL PERFORMANCE 2009 STATEMEN
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Page 87 and 88: EQUAL OPPORTUNITIES EQUAL OPPORTUNI
Page 89 and 90: EQUAL OPPORTUNITIES EQUAL EDUCATION
Page 92: www.wintec.ac.nz
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Wintec Annual Report 2009

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