Challenger TAFE | Annual Report 2006 - Parliament of Western ...
Challenger TAFE | Annual Report 2006 - Parliament of Western ...
Challenger TAFE | Annual Report 2006 - Parliament of Western ...
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<strong>Challenger</strong> <strong>TAFE</strong><br />
NOTES TO THE FINANCIAL STATEMENTS<br />
FOR THE YEAR ENDED 31 DECEMBER <strong>2006</strong><br />
37 Explanatory Statement<br />
Signifi cant variations between estimates an d actual results for income and expense<br />
are shown below. Signifi cant variations are considered to be those greater than $300,000.<br />
<strong>Challenger</strong> <strong>TAFE</strong> | <strong>Annual</strong> <strong>Report</strong> <strong>2006</strong> 109<br />
Signifi cant variations between estimated and actual results for <strong>2006</strong><br />
<strong>2006</strong> <strong>2006</strong><br />
Estimate Actual Variation<br />
Expense $ $ $<br />
1. Supplies and services 14,549,661 15,208,837 (659,176)<br />
2. Depreciation and Amortisation 4,150,000 4,654,821 (504,821)<br />
3. Capital User Charge 8,301,899 8,860,514 (558,615)<br />
4. Other expenses 2,713,753 3,725,776 (1,012,023)<br />
Income<br />
5. Fee for service 6,689,607 7,218,571 528,964<br />
6. Other revenue 796,000 1,419,260 623,260<br />
7. State Funds 46,955,253 50,423,755 3,468,502<br />
8. Liabilities assumed by the Treasurer 250,000 701,735 451,735<br />
9. Resources received free <strong>of</strong> charge 1,300,000 1,673,304 373,304<br />
1. Supplies and services - increased due to increased training delivery levels and<br />
resources provided by the Department <strong>of</strong> Education and Training.<br />
2. Depreciation and Amortisation - refl ects increase in building valuations and increased<br />
deprecation on plant furniture and equipment.<br />
3. Capital User Charge - CUC increased to meet requirements subsequent to revaluation <strong>of</strong> land and buildings.<br />
4. Other expenses - Building maintenance costs were higher in <strong>2006</strong>.<br />
5. Fee for Service - General Fee for Service activity increased.<br />
6. Other revenue - Salaries recoups including those from external organisations and workers<br />
compensation, and donations were higher than anticipated.<br />
7. State Funds - Increased DPA funding due to increased training delivery levels.<br />
8. Liabilities assumed by the Treasurer - a pension scheme employee transferred into the College<br />
and the full pension scheme liability was recognised as a revenue.<br />
9. Resources received free <strong>of</strong> charge - higher due to the increased delivery support system expenditure.<br />
Signifi cant Variances between actual results for <strong>2006</strong> and 2005<br />
<strong>2006</strong> 2005 Variation<br />
Income $ $ $<br />
- - -<br />
Expense<br />
1. Employee benefi ts expense 39,558,437 37,406,696 (2,151,741)<br />
2. Supplies and services 15,208,837 13,191,261 (2,017,576)<br />
3. Depreciation and Amortisation<br />
(611,809)<br />
4,654,821 4,043,012<br />
4. Capital User Charge 8,860,514 6,386,313 (2,474,201)<br />
5. Other expenses 3,725,776 3,181,306 (544,470)<br />
Income<br />
6. Fee for Service 7,218,571 6,273,544 945,027<br />
7. Student fees and charges 5,888,874 5,383,778 505,096<br />
8. State funds 50,423,755 44,863,327 5,560,428<br />
9. Liabilities assumed by the Treasurer 701,735 245,376 456,359<br />
10. Resources received free <strong>of</strong> charge 1,673,304 1,279,020 394,284
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