AITSL Annual Report 2011-12 - Australian Institute for Teaching and ...

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This is highly unlikely due to government funding and mechanisms available to AITSL and internalpolicies and procedures put in place to ensure there were appropriate resources to meet itsliabilities in either the current or prior year.Note 12(g): Market risknot exposed to ‘currency risk’ or ‘other price risk’.Note 12(h): Interest riskAITSL has not paid any interest, nor is it expected that any interest will be payable in theforeseeable future. 2,509,535Variable rate instrumentsFinancial assets 7,445,518 5,837,257 7,445,518 5,837,257rofit and lossInterest rate risk 1% 22,700 22,700Interest rate risk -1% (22,700) (22,700)rofit and lossInterest rate risk 1% 49,500 49,500Interest rate risk -1% (49,500) (49,500)84 AITSL Annual Report 2011–2012
than a contingent asset for the recovery from a sub-tenant of make good costs that will be incurredby AITSL on termination of the lease of premises in Canberra. The recovery is currently estimated toapproximate $161,000.Note 14 – Commitments Sub lease rental income (122,545) (240,377)Total commitments receivable (122,545) (240,377)Programs 2,083,000 2,607,000Operating Leases 2,197,989 2,859,931Total commitments payable 4,280,989 5,466,931Net commitments by type 4,158,444 5,226,554By maturityOperating lease income relates to the sub-lease agreement on the tenancy at 71 Leichhardt St,Canberra. There is 1 year remaining on the sub-lease with an option for the lessee to extend for afurther 2 terms of 3 years each. Lease incentives provided are apportioned evenly over the terms of Total sub lease rental income (122,545) (240,377)AITSL Annual Report 2011–201285
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AITSL is funded by the Australian G
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From the ChairI am delighted to pre
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Directors’ ReportThe Directors of
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Richard Bolt - nominated by the Vic
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Angelo Gavrielatos - nominated by t
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Jeff Rosewarne - Nominated by the V
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ChairAnthony Mackay - nominated by
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CEOMargery EvansShe has had a long
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General ManagerKeren CapleKeren Cap
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The number of meetings attended by
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commissioned supporting research an
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AITSL has established controls to s
Page 35 and 36: Professional Learning ConventionA m
Page 37 and 38: Teacher Feature was the result of a
Page 39 and 40: In October 2011, MCEECDYA endorsed
Page 41 and 42: FrameworkIn October 2011, the Minis
Page 43 and 44: Initial Teacher Education - Profess
Page 45 and 46: National Professional Standard for
Page 47 and 48: The School Leadership Clearinghouse
Page 49 and 50: projects and committed to using and
Page 51 and 52: In 2011, AITSL managed the inaugura
Page 53 and 54: Consistent with the intent of the A
Page 55 and 56: Assessment for MigrationMigration R
Page 57 and 58: AITSL Annual Report 2011-201255
Page 59 and 60: Auditor’s independence declaratio
Page 63 and 64: AssetsCurrent assetsCash and cash e
Page 65 and 66: Government funding 18,900,909 13,80
Page 67 and 68: AITSL receives revenue through a fu
Page 69 and 70: 1.8 LiabilitiesTrade creditors and
Page 71 and 72: Services Tax (GST).Revenues, expens
Page 73 and 74: AITSL initially recognises debt sec
Page 75 and 76: financiald simplifies rclassificati
Page 77 and 78: Note 3 - Current assets Total hel
Page 79 and 80: Gross book value 28,000 324,146 N
Page 81 and 82: 251,356 251,356Additional provision
Page 83 and 84: Note 10 - Senior executive remunera
Page 85: Note 12 - Financial risk management
Page 89 and 90: Note 15 - Member’s guaranteeAustr
Page 91 and 92: AppendicesAppendix 1: Letter of Exp
Page 101: GlossaryAAREACARAACDEACEACECQAACELA
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