Finance Committee Report
Mr Andrew Macintosh Chair of Finance Committee
Finance Committee Members:
considerations of affordability with the cost of providing a high-
Mr Andrew Macintosh
quality education.
Mr Tom Corkhill Dr Dan Hooley
The Board continued to closely monitor the Covid-19 situation in
Professor Richard Petty
2021 and the related impacts on AISHK families. Mindful of the current landscape and the uncertainty which remains, the Board
The purpose of the Finance Committee is to oversee financial
acknowledged that the challenges presented by the pandemic are
planning and management for the School. In offering advice to
ongoing.
the School Foundation Board on financial matters, the Committee makes recommendations including tuition fees, debentures and
In line with this consideration, the Board communicated to AISHK
capital levy rates, staff salary levels, capital expenditure, operating
parents in March to announce a 7.5% percent reduction on tuition
expenditure (including professional development) and other
fees charged in Term 1 of 2021. This reduction was reflected as a
sources of funding.
credit in the Term 2 parent fee account statement issued in April 2021.
The Committee liaises with external auditors to ensure that the School complies with Hong Kong reporting requirements and
A subsequent communication to parents in November announced
oversees the development and management of operating budgets.
that the Board unanimously resolved to freeze tuition fees in 2022. Therefore, there was no increase in school fees for the 2022 school
Working with stakeholders to ensure sufficient investment is
year.
made to create a dynamic teaching and learning environment, the Committee is dedicated to attracting, retaining and rewarding the
These actions were taken in aim to maintain the financial health
best talent from Australia and around the globe. The Committee
of the school, whilst also observing a commitment supporting the
continues to facilitate the growth and development of the School,
community during a challenging period. As Chair of the Finance
while recognising financial constraints and a challenging financial
Committee and on behalf of the Board, I trust that this balance has
environment.
served us well and will continue to do so as we embark on the new school year in 2022.
The Committee benchmarks AISHK against other international schools in Hong Kong, in terms of a range of financial indicators.
As the Foundation’s finances remain in a strong position, the School
Working with the School Executive, the Board and other
is financially equipped to ensure the resources for delivering a
stakeholders continue to identify ways in which the School might
quality Australian and international education in Hong Kong
operate more effectively and efficiently. Thank you to staff, stakeholders and community members whose In the absence of any external or government financial support,
collective dedication and efforts, even in the face of adversity,
there is an ever-present need for the Committee to balance
ensure a resilient, vibrant school community.
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