B R I S B A N E B OY S ’ C O L L E G E
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Financial Information Brisbane Boys’ College operates independently and the School
The PMSA’s audited financial statements are prepared in
Council, Headmaster and Business Manager manage the
accordance with Australian Accounting Standards and include
school’s financial accounts, budget and performance. Brisbane
accounting policies. They comply with Association Incorporations
Boys’ College has independent income, bank accounts,
Act 1981, Australian Education Act 2013, Education
expenditure, and targets. These are separate and distinct from
(Accreditation of Non-State Schools) Act 2017, and Australian
the other PMSA schools.
Charities and Not-for-profits Commission (ACNC) Act 2012.
All income that Brisbane Boys’ College receives from fees,
These audited financial statements are publicly available on
donations, government grants and any other source is used
the PMSA website as well as on the ACNC registry. Accounting
entirely to operate and develop Brisbane Boys’ College. No funds
policies are published in these accounts.
are shared, cross subsidised or transferred between any PMSA schools.
The PMSA works to ensure that the Group performance is achieved and optimised through a range of defined oversight
Although operated independently, Brisbane Boys’ College is
and governance processes. Each year, PMSA schools pay an
owned by the PMSA and is a part of a single legal entity which is
amount to the PMSA to cover PMSA Group Office costs incurred
the PMSA. As a part of the PMSA Group, Brisbane Boys’ College’s
in governing the schools as well as collective expenses for
financial accounts and financial statements are prepared by
insurance premiums, auditing, professional development and
the school’s Business Manager, and presented to and ratified
training, and compliance; and other consolidated costs for each
by the PMSA’s Audit, Finance & Risk Committee. These are
of the schools.
independently audited by KPMG and then consolidated into the PMSA Group special purpose financial statements.
Further details of the College’s finances may be found on the My School website: www.myschool.edu.au
Brisbane Boys’ College Financial Performance as at 31 December 2019 Sources of Operational Income 2019
Operational expenditure 2019
(excludes capital income)
TUITION FEES COMMONWEALTH RECURRENT GRANTS STATE RECURRENT GRANTS BOARDING FEES OTHER INCOME DONATIONS RECEIVED
65%
73%
STAFF SALARIES
12%
DEPRECIATION
9%
7%
ACADEMIC COSTS
9%
6%
ADMINISTRATION COSTS
6%
2%
MAINTENANCE
7%
0%
FINANCING COSTS
2%
BOARDING COSTS
2%
2019 ANNUAL REPORT
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