Challenger TAFE | Annual Report 2006 - Parliament of Western ...

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88 Challenger TAFE | Annual Report 2006 Challenger TAFE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2006 2006 2005 Notes $ $ CASH FLOWS FROM STATE GOVERNMENT Recurrent state funding – Department of Education and Training 42,417,141 42,270,495 Captial state funding – Department of Education and Training - (628,400) Net cash provided by State Government 42,417,141 41,642,095 Utilised as follows: CASH FLOWS FROM OPERATING ACTIVITIES Payments Employee benefi ts (35,796,820) (33,666,640) Supplies and services (12,950,201) (11,383,487) Grants and subsidies (185,338) (168,418) Finance costs - (62,503) Capital user charge (4,018,508) (6,386,313) GST payment on purchases (1,559,973) (1,454,426) GST payments to taxation authority (799,582) (717,932) Other payments (4,265,467) (3,167,282) Receipts Fee for service 7,153,748 6,441,429 Student fees and charges 5,738,152 5,358,118 Ancillary trading 577,398 433,679 Interest received 482,160 494,749 Commonwealth grants and contributions 44,581 50,295 GST receipts on sales 690,026 723,917 GST receipts from taxation authority 1,634,346 1,440,672 Other receipts 2,165,189 1,608,206 Net cash provided by/(used in) operating activities 33 (41,090,289) (40,455,936) CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of non-current physical assets 241,982 158,536 Purchase of non-current physical assets (1,804,123) (1,671,741) Net cash provided by/(used in) investing activities (1,562,141) (1,513,205) CASH FLOWS FROM FINANCING ACTIVITIES Other proceeds 323,588 - Other repayments (323,588) - Net cash provided by/(used in) fi nancing activities -- - Net increase/(decrease) in cash and cash equivalents (235,289) (327,046) Cash and cash equivalents at the beginning of period 7,528,827 7,855,873 CASH AND CASH EQUIVALENTS AT THE END OF PERIOD 33 7,293,538 7,528,827 The Cash Flow Statement should be read in conjunction with the accompanying notes.
Challenger TAFE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006 1 Australian equivalents to International Financial Reporting Standards Challenger TAFE | Annual Report 2006 89 The College’s fi nancial statements for the year ended 31 December 2006 have been prepared in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS) which comprise a Framework for the Preparation and Presentation of Financial Statements (the Framework), Australian Accounting Standards and the Urgent Issues Group (UIG) Interpretation. In preparing these fi nancial statements the College has adopted, where relevant to its operations, new and revised Standards and Interpretations from their operative dates as issued by the Australian Accounting Standard Board (AASB) and UIG 2 Summary of Signifi cant accounting policies (a) General Statement The fi nancial statements constitute a general purpose fi nancial report which has been prepared in accordance with the Australian Accounting Standards. The framework, Statements of Accounting Concepts and other authoritative pronouncements of Australian Accounting Standards Board as approved by the Treasurer’s Instructions. Several of these are modifi ed by the treasurer’s instructions to vary application, disclosure, format and wording. The Financial Administration and Audit Act and the Treasurer’s Instructions are legislative provisions governing the preparation of fi nancial statements and take precedence over the Accounting Standards, the Framework, Statements of Accounting Concepts and other authoritative pronouncements of the Australian Accounting Standards Board. Where modifi cation is required and has a material or signifi cant fi nancial effect upon the reported results, details of that modifi cation and the resulting fi nancial effect are disclosed in the notes to the fi nancial statements. (b) Basis of Preparation The fi nancial statements have been prepared on the accrual basis of accounting using the historical cost convention, modifi ed by the revaluation of land, buildings, plant equipment which have been measured at fair value. The accounting policies adopted in the preparation of the fi nancial statements have been consistently applied throughout all periods presented unless otherwise stated. The judgements that have been made in the process of applying the College’s accounting policies that have the most signifi cant effect on the amounts recognised in the fi nancial statements are disclosed at note 3 ‘Judgements made by management in applying accounting policies’. The key assumptions made concerning the future, and other key sources of estimation uncertainty at the balance sheet date that have a signifi cant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next fi nancial year are disclosed at note 4 ‘Key sources of estimation uncertainty’. (c) Reporting Entity The reporting entity comprises the College and entities listed at note 41 ‘Related bodies’ (d) Contributed Equity UIG Interpretation 1038 ‘Contributions by Owners Made to Wholly-Owned Public Sector Entities’ requires transfers in the nature of equity contributions to be designated by the Government (the owner) as contributions by owners (at the time of, or prior to transfer) before such transfers can be recognised as equity contributions. Capital contributions (appropriations) are designated as contributions by owners by Treasurer’s Instruction (TI) 955 ‘Contributions by Owners made to Wholly Owned Public Sector Entities’ and have been credited directly to Contributed Equity. Transfer of net assets to/from other agencies are designated as contributions by owners where the transfers are non-discretionary and non-reciprocal. See note 32 ‘Equity’.
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Challenger TAFE | Annual Report 200
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The Hon Mark McGowan Minister for E
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CONTENTS Challenger TAFE | Annual R
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CHALLENGER TAFE IN WESTERN AUSTRALI
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7 Kadadjiny Mia - Centre for Aborig
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CHAPTER 2 - BETTER PLANNING: BETTER
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2.3 The Environment From State Goal
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CHAPTER 3 - KEY PRIORITIES FOR TAFE
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CHAPTER 4 - CHAIRPERSON’S REPORT
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CHAPTER 7 - OVERVIEW OF OPERATIONS
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Table 7.2 All delivery 2006 by fund
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INDEPENDENT AUDIT OPINION To the Pa
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Key Performance Indicators Challeng
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Figure 8.2: Cost per SCH 2002-2006
Page 37 and 38: Figure 8.4: Targeted Profi le Achie
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Page 43 and 44: Figure 8.11: Graduate Labour Market
Page 45 and 46: Figure 8.13 Profi le to Non-Profi l
Page 47 and 48: Table 8.18 Total Indigenous Student
Page 49 and 50: Figure 8.22 Comparison of Customer
Page 51 and 52: CHAPTER 9 - MANAGEMENT STRUCTURE 9.
Page 57 and 58: CHAPTER 10 - CUSTOMER FOCUS Challen
Page 59 and 60: 10.1.1.1 CareerConnect, Jan-Nov 200
Page 63 and 64: CHAPTER 11. OUTPUT REPORTS Challeng
Page 75 and 76: CHAPTER 12 - STATEMENT OF COMPLIANC
Page 83 and 84: FINANCIAL STATEMENTS CHALLENGER TAF
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Page 91 and 92: Challenger TAFE NOTES TO THE FINANC
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