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BSTWLMC – PTA ANNUAL GENERAL MEETING
2016
1 By Cathy Lee (05 October, 2016)
Governance & Accountability
Independent Accountant
Alex Choy (CPA)
Stringent approval process for all expenses
Representatives from the teachers and Parents must approve
Frequent Financial Status reports to the Committee
All income and expenditure during the period
Financial Statements are complied on a cash basis
2
Continued to administer the policies laid out in 2013.
Cash at Bank (31/8/2016) (saving account)
3
Accumulated Fund for Period = $20,095.60 (31st August, 2016)
Income Highlights
Cash basis – Income decreased by approximately 18.8%
Total Income = $697,499.45** (2015 = $859,076.65)
Main increases from;
Govt. Subsidies
Membership income
Main decreases from;
PTA Activities
Australian Trip
4
Income Highlights Gov subsidies $12,129
PTA activities $114,260
Australia trip income $336,000
Sales of school uniform,
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• Sources of Income
• Australia Trip Receipt • Graduation Lunch • Membership Fees • PTA Activities Receipts • Government Subsidies • Sale of Old School Uniform • Bank Interest
Membership and injection income$89,350
Graduation lunch $134,502.5
Expenditure Highlights
Cash basis – Expenses decreased by approximately 0.01%
Total Expenses = $743,129.71(2015 =$743,790.06)
Expenses of $32,000 not yet recognized
Main increases from:
PTA activities payment
Donation to School
6
Please note that a cheque of $74,773.67 was not presented as of 31 August, 2015
Expenditure Highlights
Australia trip $380,432.86
Graduation lunch payment $110,777.76
Donation to school $26,932.44
School activities $30,714.60
7
• Expenditure Items • Australia trip • Graduation lunch • PTA Activities • Donation to School • School Activities
PTA activities $185,272.05
Net Position (specific to current year)
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Surplus/ (Deficit) for Period = ($36,630.26) (Cash Basis) Remaining balance in current account ( 31 Aug 2016) = $85,220.54 Deduct: • Accounts Payable = ($32,000) Expected Net Position (after account payable) = $53,220.54
Thank You
9
Detailed Financial Statements available to all parents and teachers