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

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Continued to administer the policies laid out in 2013.

Cash at Bank (31/8/2016) (saving account)

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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

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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

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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

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• 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

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Detailed Financial Statements available to all parents and teachers