F inance Committee Report

Finance Committee Report

Mr Andrew Macintosh Chair of Finance Committee

Finance Committee Members: Mr Andrew Macintosh Mr Tom Corkhill Dr Dan Hooley Professor Richard Petty

The Finance Committee oversees financial planning and management for the School and offers advice to the School Foundation Board on financial matters. It also makes recommendations to the Board regarding tuition fees, debentures and capital levy rates, staff salary levels, capital expenditure, operating expenditure (including professional development) and other sources of funding.

The Committee oversees the development and management of operating budgets and a range of other matters. The Committee also meets and liaises with external auditors to ensure that the School complies with Hong Kong reporting requirements.

The Committee works with stakeholders to ensure that sufficient investment is made to create a dynamic teaching and learning environment, and is dedicated to attracting, retaining and rewarding the best talent from Australia and around the globe.

The Committee continues to facilitate the growth and development of the School, while recognising financial constraints and a challenging financial environment. In the absence of any external or government financial support, there is an ever-present need for the Committee to balance considerations of affordability with the cost of providing a high-quality education.

The Committee benchmarks AISHK against other international schools in Hong Kong, in terms of a range of financial indicators. Working with the School Executive, the Board and other stakeholders continue to identify ways in which the School might operate more effectively and efficiently.

In addition to the dedication of staff, a collaborative effort is made by stakeholders to build and maintain a vibrant school community. The School also benefits financially and otherwise from volunteers including parents and friends of the School, members of the Parent Association, Committee members, and members of the Board – all of whom support the school willingly, happily and without receiving or expecting any personal, financial reward.

As a result of this untiring work, on behalf of the Board, I am pleased to report the Foundation’s finances remain in a strong position, and the School is well-positioned to continue with the financial resources to deliver a quality Australian education in Hong Kong.

As Chair of the Finance Committee and on behalf of the Board, I thank all who have helped the Committee, and the School, in 2019.