ANNUAL REPORT 2020 TOOWOOMBA GRAMMAR SCHOOL
2020 ANNUAL REPORT
to the Minister for Education, Minister for Industrial Relations and Minister for Racing
Public Availability:
A copy of the report is available on our webpage at: http://www.twgs.qld.edu.au/our-school/governance/
Information on consultancies and overseas travel is available on the Queensland Government Open Data website at: https://data.qld.gov.au
Copies of the report are available in paper form on request to: Toowoomba Grammar School PO Box 2900 Toowoomba Qld 4350
Telephone: (07) 4687 2500 Facsimile: (07) 4687 2580 E-mail: [email protected]
© (Board of Trustees of the Toowoomba Grammar School) 2021 ISSN 1837-848X 26 February 2021
The Honourable Grace Grace MP Minister for Education, Minister for Industrial Relations and Minister for Racing PO Box 15033 CITY EAST QLD 4002
Dear Minister
I am pleased to submit for presentation to the Parliament the 2020 Annual Report and financial statements for the Board of Trustees of the Toowoomba Grammar School. I certify that this Annual Report complies with:
• T he prescribed requirements of the Financial Accountability Act 2009 and Financial and Performance Management Standard 2019; and • T he detailed requirements set out in the Annual Report requirements Queensland Government agencies.
A Checklist outlining the annual reporting requirements can be accessed at: www.twgs.qld.edu.au/our-school/governance/ or on Page 51 of this Annual Report.
Yours sincerely
Brendan Baulch Chairman Board of Trustees of the Toowoomba Grammar School
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 1 Table of Contents
About the School 3
2020 in Review 4 Enrolments 4 Academic 5 Pastoral Care & Wellbeing 6 Boarding 7 Co-Curricular 8 Junior School 9 Community Engagement & Alliances 10 Human Resources 10 Facilities - Infrastructure 11 Facilities - Information Technology 12 Financial Performance 12
Legislative Requirement 13 Board of Trustees 14 Executive Management 16 Organisational Chart 16 Risk Management & External Scrutiny 17 Information Systems & Recordkeeping 17
Financial Statements for the Year Ended 31 December 2020 18
Independent Auditor’s Report 47
Appendices Appendix 1 - Glossary 50 Appendix 2 - Compliance Checklist 51
~ PAGE 2 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 About the School
Fidelis in Omnibus Faithful in all Things
MISSION Toowoomba Grammar School provides a quality education designed for boys and strives to produce well-rounded young men who are honest, respectful, hard working and humble.
Toowoomba Grammar School was Our School is committed to promoting Our students and staff operate within a founded in 1875 and is one of the original high achievement in all areas. We have community which has strong traditions, Grammar Schools of Queensland. It is also an excellent academic reputation, with dating back to 1875. Working and living one of the nine member schools of The the majority of Year 12 leavers proceeding together, we all aim to be considerate, Great Public Schools (GPS) Association to university in Queensland, interstate or polite, honest, loyal, supportive and of Queensland Inc. It is located in the overseas. We also have an exceptional respectful in all of our dealings. City of Toowoomba, Queensland which program of vocational education and We seek and applaud the following ten is one of Australia’s largest inland regional school-based traineeships. values: cities with a population of approximately Our school environment is achievement 160,000. • Integrity oriented, purposeful, happy and relaxed Toowoomba Grammar School is a but in a structured and, as required, • Resilience specialist provider of an education formal setting. The boys are eager to • Persistence designed for boys and has students be fully involved in the academic and • Respect from the Preparatory Grade to Year 12. co-curricular programs and they are Approximately one-third of the Senior expected to work hard, be well-behaved • Courage School (Years 7-12) enrolment are and respectful of others. We teach our • Compassion boarders from throughout Queensland, students to be polite, responsible, • Humility northern New South Wales, South self-disciplined, humble, friendly and Australia, the Northern Territory and service oriented, encouraging them to • Service overseas. Our boarding enrolment assist others less fortunate in the wider • Loyalty represents one of the largest for a boys’ community. boarding school in Australia. • Enthusiasm
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 3 2020 in Review
The year 2020 will be one everyone will regulations initially approved only ten Despite the challenges that 2020 remember given the unprecedented boys to be on a sports oval at any given presented, it was a successful year for circumstances surrounding the time and with no physical contact and the School particularly in terms of the coronavirus COVID-19. On the first day no handling of any sporting equipment academic outcomes for the boys. It of the new school year, Monday, 27 including balls. No excursions as part of was also a year in which we farewelled January 2020, the Australian Government the school curriculum were permitted. Headmaster Peter Hauser who provided instructed all people who had travelled The TGS Parents and Friends Art Show the School with 18 years of excellent through China (including Hong Kong) went ‘virtual’ and this initiative led to leadership. During that time. the School in the last fourteen days to isolate. On the second highest dollar value of sales has seen increased enrolments and a Wednesday of the same week, seven of recorded in the history of this event. significant program of infrastructure the School’s international students were expansion. Terms Three and Four saw a return to a transferred into isolation in one of the more typical school term with all boys School's residences. The calendar year for back in the classroom and all boarders in the School then took on an appearance residence. All co-curricular activities also Enrolments unlike any other in the School’s history. were offered with the exception of Cadets The School commenced the year with During the year numerous activities were in Term Three under instruction from the a total student enrolment of 1,206 cancelled numerous school activities Australian Army Cadets. Excursions were comprising 930 in the Senior School (280 cancelled including scheduled overseas still restricted. Meetings with the School’s boarders and 650 dayboys) and a Junior tours and cultural excursions. The Senior Board of Trustees occurred but in an online School enrolment of 276 (2 boarders and School’s Outdoor Pursuits and Activities environment. Regarding GPS sport, it was 274 dayboys). This was higher than the Week scheduled for the last five days quite remarkable that all fixtures were not 2019 enrolments of 1,167. The School’s of Term One was cancelled. With this disrupted or cancelled. What was even international student enrolment also cancellation, all students in the School more remarkable was that because Term increased from 9 to 13. remained at home (both dayboys and Two had no GPS sport whatsoever, in The School is anticipating a small boarders) and engaged in on-line Term Three the GPS Association organised decrease in enrolment numbers at the lessons. This continued for the first five all Term Two and Term Three sports to commencement of 2021 with a large weeks of Term Two as experienced by occur concurrently i.e. football (soccer), departing Year 12 from 2020 combined all schools nationwide. By the fourth rugby, tennis, basketball, chess and cross with a smaller intake in Year 7 in 2021. week of Term Two the State Government country running. permitted students from the Prep Year and Years 1, 11 and 12 to return to the School to attend classroom lessons. Initially the School was not permitted 2015 2016 2017 2018 2019 2020 to accommodate any more than 25 per cent of the usual occupancy rate in the Junior School 303 291 285 256 256 276 boarding houses, i.e. 70 boarders from the usual 280 boarders. This was later relaxed to allow for one-half of the boarders to Senior School 952 964 949 927 903 930 return to boarding during the latter part Total of Term Two but the remaining one- 1255 1255 1234 1183 1159 1206 half of the boarding cohort was still not Enrolments permitted to return to the School for the duration of this term. Teachers became very proficient with Microsoft Teams to conduct their on-line lessons over the Boarders 295 301 299 296 284 282 first five weeks of Term Two. Assemblies and pastoral care meetings were not Day Boys 960 954 935 887 875 924 conducted in a physical sense but were delivered on-line throughout the term. Total 1255 1255 1234 1183 1159 1206 Boarders were not permitted to have Enrolments visitors or go on leave. No GPS sports training or GPS sporting competition was allowed in Term Two and the Government
~ PAGE 4 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 Academic be widely recognised for the quality on a male focussed curriculum. In Years of students’ academic performance. 7 and 8, boys experience: Toowoomba Grammar School: Whilst the preceding sentence refers • The Arts (Art, Drama and Music) to the highest academic standards, • Technologies • identifies the importance of we acknowledge that this will only be developing well designed achieved when there has been a genuine • Humanities educational and pastoral commitment made by the boys to work • Languages (French and Japanese) programmes to assist boys reach • Health and Physical Education their potential and maximise as diligently as possible and to aim high their wellbeing. in their studies. This has been developed • Agribusiness over considerable time at the School • English • will continue the pursuit of the by maintaining an academic focus highest academic standards and • Mathematics whereby we publicly and privately affirm seek to maintain its reputation • Science as the premier academic school the importance of working hard. All for boys in Toowoomba, western members of the teaching staff view such A specialised reading program also Queensland and northern New a commitment to academic endeavour as supports their learning across all subjects. South Wales. their highest priority, together with the By Year 9, as well as studying the core overall wellbeing of the boys. Strategically • recognises the importance and subjects of English, Mathematics, Science, the School seeks to use research-based value of providing students with History, Health and Physical Education, data to assist in effective educational academic and vocational pathways. boys personalise their learning through decision-making, to have a dynamic and • will provide a seamless curriculum the selection of elective subjects which robust curriculum and to develop further from the Preparatory Year to Year suit their interests and aspirations. as a learning community. 10 in the core subjects of English, Electives include Digital Technologies, Mathematics, Science and Physical During the year an encouraging number Engineering and Robotics, Design, Education. of Diligence Awards was presented to Languages, Business Studies, Agricultural • will seek to use research-based students in Years 7-12. The boys receive Science and The Arts. data to assist in effective these awards based on their effort rating Every boy in Years 11 and 12 is working educational decision making. by teachers at the end of Term One and towards his QCE (Queensland Certificate Three respectively. To achieve a Diligence • will continue to offer academic of Education). Generally, about eighty Award, boys must have recorded ‘Very bursaries to selected students as percent of our Senior students are on an Good’ in the criterion ‘Work Ethic’ for all per the School’s Bursary Policy. academic pathway with Tertiary studies of their subjects except for one, where to • chooses to specialise its resources at one of Australia’s leading universities qualify the rating had to be ‘Good’. In Term into the Queensland Certificate of their goal while a small number of Three, 106 boys received Pro Summa Education and not to the offering students each year take up offers at Diligentia Awards and 122 received Pro of the International Baccalaureate. international institutions. The other Diligentia Awards. twenty percent proceed to vocational Key Achievements: 2020 is the first time all Queensland studies, apprenticeships or directly • Effectively delivered on-line schools will be using a new university into the workforce. Irrespective of the learning in Term Two in response entrance score known as ATAR (Australian pathway, every boy is eligible to attain to the COVID-19 pandemic. Tertiary Admission Rank) which is a his QCE at the end of Year 12. number between 0.00 and 99.95 that • Successfully delivered the new For some boys, the most appropriate career indicates a student’s position relative to QCE course to Year 12 students. pathway is one of vocational learning. all the students in their age group. The • 80% of Year 12 students received This year, 46 senior boys participated Dr George Fielding Award for Application an ATAR and 39% of these students in school-based apprenticeships or and Diligence is presented to those Year achieved an ATAR over 90.00. traineeships in areas including Business, 12 young men who have received a Agriculture, Automotive, Construction, • Appointed to the newly created Diligence Award for a minimum of 75 per position of Head of Teaching and Plumbing, Electrotechnology, Digital cent of their time at the School. This year Learning in January 2020. Media & Technology, Baking & Pastry, 31 Year 12 students received this award Engineering Fabrication and Engineering • Redefined learning spaces to and six young men were recognised as Mechanical. As part of TAFE Queensland’s increase transparency in teaching having received a Diligence Award every VET in Schools program, a further 31 and collaboration in learning. semester of their senior schooling. boys studied off-campus a day a week • Continued development of the to complete certificates in Automotive, use and analysis of data to inform Academic Program Construction, Early Childhood, Salon teaching and learning. The academic program at Toowoomba Assistant, Electrotechnology, Plumbing The School’s Strategic Plan states that Grammar School provides opportunities and Engineering. Night welding courses the School will continue the pursuit for boys to experience a wide range of at TAFE were also accessed by 21 boys. of the highest academic standards to subject areas with particular emphasis Many more boys in Years 11 and 12 took
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 5 the opportunity to participate in work or 50% of their overall assessment, the in relation to their anticipated careers experience where they experienced percentage depending on the subject and focussed on a range of personal different trades, became familiar with studied. The top five subject results, transferable skills deemed valuable in potential employers and developed their out of the six typically studied, will then the future. employability. Finally, 80 boys studied contribute to the calculation of the ATAR. In Term One, in preparation for Work on-campus for a range of vocational Experience, Year 10 boys acquired a qualifications that included a Diploma 2020 Results and Tertiary deeper understanding of workplaces, of Business, Certificate III & IV in Fitness, Destinations and workplace health and safety. While Certificate III in Aviation (Remote Pilot) 80% of the School’s 2020 Year 12 cohort the work experience placements were and a Certificate II in Skills for Work and received an ATAR with the remaining 20% cancelled due to COVID-19, the boys have Vocational Pathways. electing to take a vocational pathway. been encouraged to participate in further 39% of the cohort received an ATAR over opportunities in the coming months and Impact of COVID-19 90.00 and the median ATAR was 85.70. years as conditions allow. Many have now During Term Two of 2020, the School done their placement. Throughout the ATAR Number TGS % State % delivered its academic program initially year, a number of boys from Year 11 and 99+ 5 4 1 via on-line lessons and then via a hybrid 95 – 98.95 22 17.9 4 Year 12 also completed work experience model which saw classroom delivery 90 - 94.95 21 17.1 5 placements during their school holidays. for most boys and continued on-line 80 - 89.95 28 23 20 The Career Avenues career profiling for learning for those boarders unable to 70 - 79.95 26 21 20 all Year 10 boys in Term Two once again return to school. The Senior School’s on- 50 – 69.95 18 14 20 proved to be insightful and formed the line lessons followed the usual timetable, < 50 3 3 50 foundation for a full and complete Career whereby teachers delivered their lessons 78% of the 2020 Year 12 boys will Plan interview. Year 11 boys participated and resources via Microsoft Teams undertake university study, 14% will in a structured career education following the usual roll call. Once the commence an apprenticeship and the program that included exploration majority of students returned to School in remaining 8% will join the workforce. of self, exploration of study and work Week 6 of Term Two, the staff delivered a Of the boys undertaking university, opportunities and development of skills difficult hybrid model of teaching which 24% have enrolled at the University in how to self-market by participating in involved teaching to the boys present of Queensland, followed by 23% at activities such as resume writing, portfolio whilst simultaneously conducting Queensland University of Technology creation and interview skill development. on-line lessons to 15% of the Senior and 21% at the University of Southern School students who were unable to Queensland. The remaining 32% have return to the boarding houses. enrolled at a variety of universities around Pastoral Care Over the course of 2019 and early 2020, the Australia. The largest portion of 2020 Year School had invested heavily in upgrading 12 boys will undertake study in the area & Wellbeing its IT capability. These upgrades allowed of health followed law and commerce. Toowoomba Grammar School: the School to successfully deliver the on- Careers Education line program. • will provide students with a Within the School’s Career Development well-structured and relevant During the year all Year 12 students program, boys have worked towards programme of pastoral care and studying General Subjects for the QCE acquiring an understanding of future personal development to allow received news of the decision by the opportunities and pathways available them to grow and mature as Queensland Curriculum and Assessment to them and the requirements, rewards young adults with self-confidence, Authority to reduce the number of Year and fulfilment associated with each. integrity and empathy for others. 12 Internal Assessments to two instead They have worked on developing their of three due to COVID-19. The Year 12 decision-making and planning skills • will focus its teaching and pastoral final examinations are worth either 25% care programmes on fostering and developing quality relationships – 2020 Year 12 Tertiary Destinations the relationships existing between 35% teachers and students; between 30% students; and staff/students and 25% the broader community. 20% 15% • will provide Values Educat ion 10% highlighting the virtues of 5% integrity, honesty, compassion, 0% tolerance and an appreciation of cultural, religious and racial Engineering Health Society & Law & Agriculture Sciences & IT Other & Built Culture Commerce diversity. Environment
~ PAGE 6 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 • will encourage the appreciation processes. Informally, we see this being Dr Carr-Gregg presented to parents about of the co-curricular programme achieved every day through the efforts the issues facing families and young promoting wellbeing, fitness, of the teachers in the classroom and people during the lockdown periods. enjoyment, skill development and also with the boys’ positive interaction Mr Dillon spoke to the Year 10, 11 and new experiences. with the non-teaching staff. These 12 boys as well as parents. He focussed interactions can be academic but also on the importance of young people still Key Achievements extend to the sports field during practice being able to socialise face-to-face during • Appointment of an additional and competition, through musical and the pandemic and encouraged the boys School Counsellor to further dramatic rehearsal and performances, to socialise in a safe manner. debating practices, the community support the boys’ wellbeing. Activities Week for the Senior School was residential living in the boarding houses, • Conducted the annual Student unable to progress due to COVID-19. the Cadet Unit, the outdoors programs, Wellbeing Survey which informed Similarly, the usual interactions with the the numerous camps, tours, excursions our pastoral care programs as well local girls’ schools, Fairholme College, The and activities, and through community as targeted interventions. Glennie School and St Ursula’s College, service. Our teachers have continued to play were cancelled during Terms Two, Three an integral role in student wellbeing Regular Pastoral Care sessions are held and Four. It is hoped that these activities and the implementation of Pastoral where each of our mentors delivers a will be able to progress in 2021. Care at Toowoomba Grammar School. structured fortnightly program, centred In addition, this year they have had the around topics such as respectful added challenge of ensuring our boys relationships and friendships, responsible Boarding have remained connected to our School digital citizenship, identity formation and during the online learning period. This personal safety. Toowoomba Grammar School: meant that classroom teachers and The School has a Pastoral Care Committee • will remain committed to mentors needed to recognise the which meets regularly to focus on boarding in every sense and boys who were not coping with online student wellbeing and various programs actively pursue the goal of being learning, assist them with their wellbeing and activities. the premier boarding school in and encourage them to engage in their Queensland, northern New South This year the former job title of learning. This would not have occurred Wales and the Northern Territory. if our teachers did not know the boys ‘Housemaster’ was replaced with a more as well as they do. Knowing the boys, appropriate and relevant title of ‘Head of • will foster the Pastoral Care and including their strengths and how House’. The Heads of House, both Day and Personal Development objectives they learn, results in the development Boarding, also have a critical role to play to support the boarding program. in assisting their students cope with any of positive relationships and this has • will seek to maintain and hopefully difficulties (academic, social, personal meant that our boys have had excellent increase boarding numbers through and emotional) they may experience. opportunity for growth throughout the active marketing and positive ‘word The Heads of House are often the first year. of mouth’ recommendations. person a boy will turn to in a time of need Early in 2020, the School conducted its and their contributions to the growth • will review the time demands annual survey of Senior School students and development of the boys are crucial on boarding staff and associated to ascertain their views regarding their to the operation of the School. They, in personnel to consider the wellbeing and bullying they may have turn, are supported by Assistant Heads of implications associated with experienced or witnessed. The results House and a team of mentors operating fatigue or other health-related of the survey informed our pastoral in their respective house groups. The concerns. care programs as well as targeted Pastoral Care program at Toowoomba interventions. The results continue to Grammar School has continued to grow Key Achievements: be in a range that is comparable with this year, reflecting our commitment to • Proving care for the School’s our peer schools. student wellbeing and to addressing the international boarders who were The benefits of developing respectful complex matters facing young people unable to return to their homes and encouraging relationships between today. Our endeavours in this field reflect throughout 2020. teachers and the boys are clear and may a dynamic, increasingly important facet • Adjusting the boarding program be summarised under two points – first, of modern education, ensuring that to operate under COVID-19 to enhance the boys’ academic progress students are safe, healthy, aware and guidelines. and secondly, to provide improved care well prepared for the challenges ahead. for the boys in the crucial area of mental Despite the restrictions around travel • Revitalisation of the Boarders’ Food wellbeing. These relationships and during the pandemic, the School was Committee, who work with bonds are in essence the nature of the able to secure two of Australia’s most term ‘Pastoral Care’ and at Toowoomba respected experts and public speakers Grammar School this program is achieved this year: Dr Michael Carr-Gregg through both formal and informal (presenting online) and Mr Paul Dillon. ~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 7 the Chartwells’ catering team to We have six Boarding Houses on campus, lessons, lunch-time pop-up deliver a continuous improvement each under the supervision and direction concerts and a television-style to the provision of food to the of a teacher of our School and typically concert. boarders. with his wife and children. Our boarders • 85% of Senior School boys are also cared for by Assistant Heads of participated in at least one sport • Improvements and additions House, resident staff and an on-site Health or activity. to the program of boarders’ Centre which operates 24 hours per day Recreation events. • Delivered an innovative on-line during term time. coaching program during Term This year has brought many unforeseen The School community is certainly Two to allow the boys to continue challenges associated with both drought training and remain active whilst enriched by the contribution made by and COVID-19 which have affected at home. our boarders. Their enthusiasm and down everyone. It has been a year that has to earth manner are infectious, and they The extensive Sports and Activities tested all, but it has also highlighted have a very positive effect on the culture program at the School and its involvement the great strengths of our boarding of our School. We are indeed fortunate in the GPS competition represents a vital community. The onset of COVID-19 earlier to have so many families who entrust part of the School’s offering. The School in the year led to the closure of boarding their sons in our care and we continue prides itself on the inclusive nature of our for part of Term Two and then the gradual to strive to provide the best boarding co-curricular program with activities that re-introduction of smaller numbers of and educative experience for all our boys. cater for all students. The experiences boarders as the government directions students encounter in our sports program changed. range from participation and enjoyment The impact of COVID-19 has led to many Co-Curricular to developing considerable skill for elite adjustments to normal boarding life at aspirations. There are ten sports available the School in 2020. These have included Toowoomba Grammar School: for boys to play in the GPS sporting measures to ensure social distancing competition including: • actively promotes the such as the staggered meal times that participation of boys in • Cricket were implemented in the Dining Hall. competitive sport irrespective of • Swimming Boarders were also allocated specific their level of competition. facilities in their residential bathrooms, • Volleyball had to complete an online daily health • is committed to being a part of • Football (Soccer) check, use disposable eating utensils and the Great Public Schools (GPS) • Tennis wash their hands on a very regular basis. Association of Queensland and its • Cross Country There have been many adjustments to various sporting competitions and • Rugby Union daily life in wider society, but the high activities. • Basketball risk environment of boarding houses has • The School will not implement a • Chess seen more stringent requirements and “win at all cost” philosophy nor • Track and Field these have all been met by the boarders will it allow the sports programme and the boarding staff. to have an unjustified negative Participation ranges from national level competition to matches where the boys Boarding remains a highly significant impact on academic programmes. simply enjoy being with their teammates part of the Toowoomba Grammar • actively promote the performing and acquiring additional skill level. School community. Our boarders come and visual arts in its programmes from regional, rural and remote areas of and will provide students with In addition to the GPS sporting program, Australia, as well as a small number of outstanding opportunities to Toowoomba Grammarians may boarders from overseas. They become participate in music, drama, participate in external club sporting part of our School community to be debating and public speaking at competitions or enjoy non-competitive educated and bring with them a variety of all levels. activities such as bushwalking, mountain different backgrounds and experiences. bike riding, abseiling, orienteering, The boys who join us as boarders • maintain and enable the camping and other outdoor adventures contribute a great deal to the culture involvement of boys in the Cadet which are organised by our Adventure and spirit which exists at the School. Unit and will promote the value of Club, various Heads of House or staff the Cadet Unit to the students and members. Toowoomba Grammar School represents to the School community. one of the largest boarding schools in We also feel it is extremely important Australia. With almost 300 full-time Key Achievements: for our boys to be exposed to, and boarders, the administration and care of appreciate, cultural activities. We do these boys living on campus is a significant • Delivered the regular Terms 2 not want to be recognised solely as an and 3 GPS sporting programs operation. The School has invested heavily academic institution, or one focussing simultaneously in Term Three. in boarding infrastructure in recent years predominantly on sport as the only co- and the facilities for the accommodation • Continued to deliver the School’s curricular activity. We have qualified and of our boarders are of a high standard. musical program via on-line talented specialist staff in the roles of ~ PAGE 8 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 Director of Performance and Teachers- year, and was held on Friday, 28 August. Key Achievements: in-Charge of Art, Drama and Music. The Senior School Assembly Hall was • A full review of the Teaching Our students are involved in major transformed into a TV studio, and the and Learning cycle in all performances with the School and event was one of the first of its kind in subjects occurred. This included they also enjoy interacting with the Australia. To create a TV style occasion, a complete curriculum audit neighbouring girls’ schools in combined the event was hosted by Mr David Iliffe being commissioned, ensuring orchestras, choirs, dramatic performances from ABC Southern Queensland, and the P – 6 alignment with UbD and school productions. School connected with the local charity, (Understanding by Design). Protea Place, to raise funds for women in Due to the restrictions and regulations of need in the local community. The concert • Progress from data collection to COVID-19, the Term Two sporting fixtures featured all Senior School ensembles in a data informed practice occurred. associated with the GPS Association was very exciting performance environment, This included a successful suspended. In Term Three, arrangements which was enhanced by the four cameras, transition from one data tracking had to be made to regulate the entry and personal radio microphones, large LED program (GradExpert P-6) to exit of a restricted number of spectators screen, lights, curtains and the broadcast Learning Analytics (P-12). Ongoing to all of the School’s home games. Only truck. staff professional development the parents of participating players were occurred targeting the use of data. permitted by the GPS Association to The Army Cadet Unit has a long and proud • Students’ academic outcomes watch the games and this made for an history at Toowoomba Grammar School in English (writing, spelling and incredibly different atmosphere with no beginning with the Unit’s inception in reading) were targeted. This boys watching the games and therefore 1892 when the boys were required to included stage 2 implementation no school spirit squad and war-cries. All perform daily drill. This rich tradition of Big Write and VCOP (P-6). In GPS schools were required to arrange all continued throughout the turmoil of the addition, PLD (Promoting Literacy Term Two and Term Three GPS sports to World Wars and other global conflicts Development), a phonemic be played concurrently in Term Three, that to its present-day structure governed awareness program was trialled. is, Six different sports in total compared by the Australian Army Cadets (AAC). Growth was measured using with the customary Three sports. During Cadets is a voluntary activity within the standardised assessments. Term Two's remote learning, online School’s co-curricular program. Neither coaching programs developed for boys to the Cadets nor Cadet staff are part of • A school-based Technology be able to train and keep active at home. the Australian Defence Force and there Scope and Sequence was is no compulsion to join the Defence fully implemented (P-6). This Fortunately, the co-curricular Music staff Force at any time. incorporated a Technology were able to quickly adapt to the COVID curriculum pilot project to build environment by using Microsoft Teams Much has changed at TGS Cadets since teachers’ capacity. to continue delivering an excellent Music pre-COVID-19 times. The pandemic led • The Junior School’s REACH education to the School’s musicians. A to the cancellation of the majority of our pastoral / character development large number of online music lessons 2020 events and also saw the introduction program moved to stage 3 was trialled at the end of Term One with of added restrictions and regulations implementation, with a review great success. After much hard work and that will no doubt now become normal process. consultation during the Easter holidays, operating procedures. a comprehensive online rehearsal and Our boy-friendly school encourages music lesson schedule was created so boys to value learning and effort, with that the Music Program could continue Junior School the aim of achieving their personal best seamlessly during Term Two. Once all in all areas. We acknowledge that boys Toowoomba Grammar School’s Junior students returned to school, the Music are active and enthusiastic about what School is a place where boys are allowed Department was still impacted by social they do and, as such, we provide many to be boys. Our students are challenged distancing regulations. However, the additional activities for our students. The academically, cared for in a positive and enterprising staff planned slight rehearsal boys are encouraged to embrace the supportive manner and encouraged to modifications to be able to continue all many opportunities available to them actively participate in the rich and diverse rehearsals seamlessly. It was pleasing beyond the classroom in areas such co-curricular opportunities available. The to witness many students recording a as sport, music, the performing arts, Junior School caters for boys from Prep to ‘Music Moment’ during this time that after school clubs and the rich life of Year 6 in its own facilities on the extensive was shared publicly with the community. our School. Boys work with their class Toowoomba Grammar School campus. At the end of Term Two, the Big Band teachers on the core curriculum areas These boys then move into Year 7 in and Grammarphones delighted a school of English, Mathematics, Science, History, the Senior School well prepared for the audience with the first lunchtime Pop Geography and Technology. All boys from academic expectations, understanding Up Concert. Prep to Year 6 are also taught by subject and valuing the school culture and specialists in the areas of Music, Art, The Welcome Back Concert was the first having friendship groups already well Woodwork, Library, Physical Education, major performance opportunity of the established. Health, French and Japanese. ~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 9 Community initiatives could not proceed. Given these and for the Year 11 companions and challenges it was still impressive to see Year 12 helpers to have the opportunity Engagement & the number of boys willingly involving to experience considerable personal themselves in service learning and trying growth. Alliances to still find initiatives to support others. Toowoomba Grammar School: The Interact Club worked toward supporting charities or organisations Human Resources • extends student activities to assist locally, nationally and internationally. The Board of Trustees and the Headmaster the more vulnerable in society. Funds were raised in support of recognise the crucial role played by all • enhances existing educational, organisations such as the local Rural staff, both teaching and non-teaching, corporate and sporting alliances Fire Service and Australian Wildlife in the offering of quality programs and and build on developing further Recovery following the bush fires, resources to the students and parents. relationships. Toowoomba Hospital, Rio’s Legacy, • continues to positively collaborate Juvenile Diabetes Research Foundation, Toowoomba Grammar School: with other schools and educators Emerge Toowoomba, Rosie’s Friends • Will actively seek to attract, in Toowoomba and the Darling on the Street, BackPack Beds for the employ and retain talented, well- Downs region, in Brisbane, inter- Homeless, Movember, Queensland qualified and committed staff state and through membership Cancer Council, Hike for Homeless, and • Will offer opportunities to assist LifeFlight. Furthermore, awareness of of the GPS Association, the the teaching staff of Toowoomba Grammar Schools of Queensland various health and social justice issues Grammar School to better Association, the Association of and the need for international assistance understand issues relating to Heads of Independent Schools was raised through fundraising and boys’ education of Australia and the International action campaigns, such as supporting a • Will aim to ensure that the village in Nepal and ongoing sponsorship Boys Schools’ Coalition. workplace is free of bullying, • focuses on strengthening links of a Year 8 girl in Tanzania. Service was discrimination and unsafe or unfair with relevant personnel at the also provided to the Australia Day practices celebrations, Clean-Up Australia Day, and major universities and TAFE • Will seek to promote a AngliCare HAP (Homework Assistance colleges. collaborative and empowering Program) where boys spend some time • seeks to promote community culture in which staff can extend each week working with children who engagement by offering parenting themselves professionally for the have recently immigrated to Australia. seminars and boys’ education benefit of their students workshops for parents. The School was keen to continue their • Will assist the staff in reviewing connection to the wider community their performance and offer Key Achievements: through service in 2020. Term One saw suggestions and assistance to our relationships and support of local improve relevant professional • Despite COVID-19 modifications, practice. the School held the annual Sony schools get underway, where boys spent Camp for children in the wider time with younger students as well as • Will encourage staff to actively community with disabilities. assisting around these schools on a participate in professional regular basis. Boys also commenced visits associations, in-service programs, • Students raised over $30,000 from educational forums and embrace fundraising and service activities to residents at retirement communities lifelong learning. for various charities. and assisted with Rosie’s barbecues. Unfortunately, most of these valuable Service to the community is an activities were unable to continue due to Staff integral component of a Toowoomba COVID restrictions, but we were pleased The main operating expense of any Grammar School education. We aim, as when boys still managed to reach out to school is its wages and salaries and a school community, to enhance the the elderly in aged care homes by writing Toowoomba Grammar School is no personal development of our boys so letters to the residents. different employing approximately 300 that they become responsible, flexible people. The number of staff is high given and constructive members of society. The annual Sony Foundation Children’s there are a considerable number of staff Central to achieving this is increasing the Holiday Camp operated as a day-camp. involved in the boarding operations exposure of boys to the needs of others. The camp provides a highly valuable experience for Senior boys to demonstrate and also due to the large number of This year the School’s community service their commitment to service by for three casual and part-time staff involved in program was not able to operate at its days caring for a young person with a the School’s learn-to-swim program and normal capacity due to COVID-19. Many disability. The objectives of the Sony our extensive co-curricular sports and typical events and activities the School Camp are threefold – to offer the young activities program. has traditionally supported through guests with disabilities a great time, to A crucial asset of Toowoomba Grammar the Interact Club and House service ensure their families have some respite School is the quality of its teaching
~ PAGE 10 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 staff. These men and women have all Health and Safety serviceable, sustainable and been appointed to this school via a relevant to its needs. The School takes health and safety competitive selection process involving for students, staff and visitors very • Will continue to make every applicants from around Australia. All of seriously. The Board of Trustees, the reasonable effort to conserve our teachers have decided to make a water and power Risk Management and Compliance conscious decision to teach in an all- Subcommittee and the School Executive • Will consider cost efficiencies boys’ environment, clearly illustrating review incidents and corrective actions associated with alternative energy their desire to relate to, and support, our taken, at each of their scheduled sources in all major operations boys and young men. They have also meetings. The School’s Officers also Situated on a 52 acres campus, Toowoomba voluntarily made a decision to work at undertake annual workplace health Grammar School is regarded as one of the Toowoomba Grammar School knowing and safety training led by a solicitor who most picturesque schools in Australia. The full well the commitment they will have School campus encompasses five major specialises in this field. to make to the extensive co-curricular sporting ovals, eight tennis courts, two program of the School. This reflects In late 2020, consultant Kitney OHS was indoor swimming pools, and a new three court indoor sports centre, all combined the teachers’ professionalism and their engaged to review the School’s workplace on one campus and situated only 1500 appreciation of how coaching boys in health and safety responsibilities metres from the Toowoomba CBD. various sports and activities will improve framework. Recommendations the quality of relationships and learning from this review are currently being Key Achievements: outcomes in the classroom. Furthermore, implemented. During the year, the School The School reinvested $3.4M into the commitment to after-school and also engaged specialist consultants to improving its infrastructure and week-end co-curricular activities also conduct reviews of the School’s fire Information Technology facilities in 2020. reflects the work ethic of the staff the and traffic management systems. The The key projects undertaken were: School employs. recommendations from these reviews have either been implemented or are in • the refurbishment of the Robert’s The School is fortunate to have a stable the planning stages. Senior School classroom block; workforce and many staff have well in excess of 10 years’ service. • a student centred Junior School Impact of COVID-19 classroom redesign pilot project During the year 17 staff left the was to guide future directions; During 2020, as a result of government School’s employment. 15 of those staff directives, the School’s boarding and • the replacement of the Trenerry either retired or pursued alternative Aquatic Centre operations experienced a Gymnasium ceiling and the employment. Operational reviews led stoppage of work and, after consultation upgrade of the changerooms in to 2 redundancies. The cost of these that facility; with the School’s legal advisers, staff in redundancies was $47,948. these functions were stood down. As the • resurfacing the 25-metre pool in School was eligible for the JobKeeper the Aquatic Centre; Workforce Planning program, the majority of these staff • replacing equipment in the The School’s reputation and profile, were eligible to receive this government School’s two data centres and employment conditions and professional assistance. The standdown or reduced relocating one of those centres to development make it an employer of hours affected these staff during Term a more secure location; choice in South East Queensland. Two. The hours of employment returned • the acquisition of student laptops The School supports the professional to pre-COVID-19 levels for boarding staff for the continued roll-out of development of all employees through in Term Three and for Aquatic Centre school provided laptops to replace training and performance development. staff in Term Four once the relevant the previous Bring Your Own Staff are required to undertake annual government restrictions had been eased. Device program, thus allowing mandatory training in areas such as staff and students to have child protection and first aid and are standardized devices; also strongly encouraged to undertake Facilities - • the continued replacement of further regular training in areas relevant the School’s WiFi infrastructure to to their employment, either on-the-job Infrastructure improve connectivity for staff and or via an external provider. The School students around the School; Toowoomba Grammar School: is continuously reviewing its staffing • the continued replacement of resources to ensure they are appropriate • Will deliver a very high level of projectors with interactive flat to the School’s operations and can service, effective management panels to improve the boys’ support the delivery of the School’s of physical and human learning experience in classrooms resources, and prudent financial strategic plan. In response to these across the School. management. reviews, where necessary the School will In 2021, the School is developing its • Will maintain and enhance its either make staffing changes, e.g. recruit infrastructure masterplan for the coming buildings and grounds to ensure for additional skills, or provide training years. for staff. that they are contemporary,
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 11 Facilities - accessibility of applications and data for in Term Two and as a result the staff and students both at home and at School recognised a reduction of Information school. boarding revenue of around 20% for the year. With the increased reliance on on- Technology • The Learn to Swim and squad line platforms, the School engaged programs in the Aquatic Centre Toowoomba Grammar School: consultants to perform a security review were not able to operate in • Will keep pace with current trends (including penetration testing) of the Term Two and operated under and innovations in its educational School’s systems and infrastructure. Whilst restrictions in Term Three and as environment. the results were pleasing, a number of a result the School recognised • Aims to develop technology skills in recommendations for improvements a reduction of Aquatic Centre both students and staff to empower were made and these are in the process revenue of around 30% for the learners to solve complex problems, of being implemented. year. think creatively and adapt to Given the ongoing threat of cyber • In Term Two the School was challenges. unable to operate its co-curricular security, this will be an iterative process, • Will use technology to provide and pastoral care programs at and the school has adopted a full-time improved family engagement and levels normally offered and a 15% communication. security role to continue to provide discount on tuition fees in this proactive measures and educaton of staff term was given in recognition of • Will use technology to provide more and students regarding cyber security. the reduced service provided to efficient administrative processes. families. The School’s Technology Committee is • The School provided increased responsible for overseeing the direction Financial of Information Technology across the financial assistance to families educational and operational aspects of Performance impacted by COVID-19. the School. In particular, the Committee • The School was unable to hire its focuses on innovation and its application Toowoomba Grammar School: facilities or operate events to raise in supporting the boys in their learning. • Seeks to be in a financially secure donations. Over the past twelve months the School position delivering an operating Given the above listed impacts, the has invested heavily in ICT infrastructure surplus. School was eligible to received JobKeeper towards providing increased continuity of • Undertakes a well planned capital funding. Staff associated with boarding, service to staff and students. This included program of works which delivers the Aquatic Centre and events were stood the planned value. a major overhaul of the School’s data down during Term Two under JobKeeper arrangements. centres, switches and wireless technology, • Maintains its financially secure position by actively managing Other impacts on the School’s finances which are all critical areas of service as assets, ensuring operating the learning spaces are reliant on the funds are expended effectively in 2020 were: system's uptime. This investment proved and driving accountable cost • the provision of increased financial management. to be prudent in terms of the ability of assistance to families impacted by the School to respond appropriately For the year ended 31 December 2020, drought; and the School achieved an operating surplus to the unprecedented online learning • a reduction in investment revenue before other comprehensive income of requirements through the COVID-19 due to continued decreases in $2,589,000. This is higher than the 2019 crisis. interest rates. result of $237,000 due to a 4% increase in Another major focus of the Information the students numbers in 2020 compared The School will commence the Technology strategy, with continuity of with 2019 and funding the School was able development of a new master plan in to access through the JobKeeper Scheme. services, was to move key systems to 2021. Reinvestment in capital for 2021 was lower than prevous years and is cloud-based solutions. This decision has As a result of COVID-19 restrictions, the likely to remain this way until the master School experienced the following financial also allowed the School to adapt swiftly plan has been completed and building impacts: and successfully to the online learning priorities have been identified. requirements with great success. It • The boarding houses were has also significantly improved the operated at a very limited capacity
Key Financial Performance Indicators 2020 2019 2018 2017 Working Capital Ratio (Goal > 2) 3.7 3.7 3.5 4.3 Net Operating Margin (before interest and depreciation) (Goal > 15%) 20% 9% 14% 20% Reinvestment Ratio (Goal > 100%) 48% 84% 165% 135% Debt per Student (Goal < $10,000) $8,559 $9,889 $10,731 $11,199
~ PAGE 12 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 Legislative Requirements
Establishment Government Objectives and, most importantly, it also allowed for the gazetting of Crown land on which the The Toowoomba Grammar School was Toowoomba Grammar School has School was to be built. The land on which founded on 5 August 1875 as a Boarding contributed to the following priorities in the School was built remains Crown land and Day School for boys, when the the Queensland Government’s objectives today under perpetual leases to the Board Lieutenant-Governor of Queensland, for the community "Unite and Recover - of Trustees. Mr Justice Lilley, laid the Foundation Queenslands Economic Recovery Plan": The School now operates under the Stone of the original School building. • Safeguarding our health: The School opened on 1 February 1877, Safeguard people’s health and Grammar Schools Act 2016 which with an enrolment of forty-two boys, of jobs by keeping Queensland regulates the governance and whom eighteen were boarders. pandemic-ready. The School has administration of the School. been operating the day, boarding Statutory Powers of the Board Toowoomba Grammar School is the equal and co-curricular functions under third oldest secondary boys’ school in the a COVID plan which includes, By statute, Toowoomba Grammar School State, and is one of the nine member amongst other things, increased is governed by a seven-person Board of schools of the Great Public Schools (GPS) cleaning and social distancing. Trustees. The Board has a dual role as of Queensland Association currently • Supporting jobs and Growing a government statutory body and as a educating boys from Prep to Year 12. our regions: Help Queensland’s governing board. regions grow by attracting people, Location talent and investment, and driving The functions of the Board are set out in sustainable economic prosperity. Section 11 of the Grammar Schools Act The Toowoomba Grammar School The School is one of the largest 2016 and include: is located at 24 Margaret Street, East employers in Toowoomba and • Supervising and controlling the Toowoomba. The School’s property is employs around 300 people. 52 acres with buildings constructed to School’s operations • Investing in skills: Ensure provide both education and boarding • Policy making Queenslanders have the skills they facilities. The grounds include five need to find meaningful jobs and • Appointing the Headmaster sporting ovals and other recreational set up pathways for the future. facilities. The School educates over 1,200 • Planning, goal setting and appraisal The Toowoomba Grammar School boys and provides academic and • Overseeing school resources vocational pathways. postal address is – PO Box 2900, Toowoomba Qld 4350 and the website is • Backing our frontline services: Meetings of the Board Deliver world-class frontline www.twgs.qld.edu.au. The Board of Trustees held eight general, services in key areas such as and three special additional meetings Controlled Entities health, education and community safety. The School is proud of its during 2020. The Board of Trustees of the Toowoomba long history in providing boys Grammar School established a Building with a quality education in a Changes to the Board regional centre. Fund in 1958 managed by the Trustees In 2020, the following changes affected and is established in accordance with • Protecting the environment: the Board of Trustees’ composition: “Collections Act 1966”. The fund is Protect and enhance our natural registered as a Deductible Gift Recipient environment and heritage for • After 30 years of service to the School, Mr Glen McCracken by the Australian Taxation Office and is future generations and achieve resigned from the Board of Trustees audited by the Queensland Audit Office. a 50 per cent renewable energy target by 2030. The School effective 7 September 2020. The functions of the Toowoomba ensures that all buildings are well • His Excellency the Governor Grammar School Public Building Fund maintained and sympathetic with appointed Mr Harrison Humphries are to provide money for the acquisition, the heritage environment. The as an Additional Member of the construction and maintenance of the School is also working towards Board of Trustees effective 4 energy and water reduction School buildings through public September 2020. initiatives such as solar, low energy donations. fittings and water efficient fittings. • His Excellency the Governor In 2008 the School established appointed Mrs April Cavanagh as a Ministerially nominee on the Toowoomba Grammar School Legislative Foundation the Board of Trustees effective 7 Scholarship and Bursary Fund to receive, Toowoomba Grammar School, one of the August 2020. acquire and hold gifts, donations and eight Grammar Schools of Queensland, legacies and devices for the advancement was founded in 1875 under an Act of the of the Fund. The Fund is maintained solely Queensland Parliament known as the for providing money for scholarships or Grammar Schools’ Act 1860(Qld). In short, bursaries and is registered as a Deductible the Act allowed for the establishment of Gift Recipient by the Australian Taxation a Board of Trustees to govern the School Office. ~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 13 Legislative Requirements continued...
Board of Trustees
Mr Brendan Baulch (Chairman) BCom, LLB (UQ), CA, MAICD Mr Brendan Baulch was appointed to the Board of Trustees in 2017. Mr Baulch is the principal of Baulch & Associates, a Toowoomba- based accounting practice providing taxation, audit and management accounting services to small and medium-sized enterprises. He is a Chartered Accountant & a current Toowoomba Grammar School Parent. He is also a Director of Heritage Bank.
Dr Russell Domrow (Deputy Chairman) MBBS (UQ), FRACGP, DipRACOG, JP (Qual) Dr Russell Domrow was appointed to the Board of Trustees in 2009 and is the parent of two Toowoomba Grammar School Old Boys. Dr Domrow graduated in Medicine from the University of Queensland and has practised in Toowoomba since 1986. Dr Domrow has also been an Honorary Lecturer at The University of Queensland and an Examiner for the Royal Australian College of General Practitioners.
Mr Chris Wicks BAppSc (UQ), DFP, GAICD Mr Chris Wicks was appointed to the Board of Trustees in 2011. Mr Wicks boarded at Toowoomba Grammar School from 1981 to 1985 and was Senior Prefect in 1985. Mr Wicks has an agribusiness background and he currently works for a resource company in forecasting and economic modelling of gas developments and facilitating coexistence with landholders. Mr Wicks’ two sons attended Toowoomba Grammar School and he is a Past President of the Old Boys’ Association.
Dr Nicola Hulme-Peake BDS (Dund), FIDDCE Dr Nicola Hulme-Peake is the Director and Principal Dentist of Pure Dental Toowoomba. Dr Hulme-Peake emigrated from the UK to Australia in 1995 and has worked in private practice in Toowoomba since 1999.
Mr Barry O’Sullivan Mr Barry O’Sullivan was appointed to the Board of Trustees in January 2018. Mr O’Sullivan is the Director of Newlands Civil Construction and Newlands Commercial Construction, based in Toowoomba, which specialise in civil and commercial construction. Mr O’Sullivan is also involved in a number of other companies within Toowoomba and is a current Toowoomba Grammar School parent.
Mrs April Cavanagh M.C. (U.Syd.), B.Bus. (UQ), MAICD Mrs April Cavanagh joined the Board of Trustees in October 2019. She is currently the National Manager, Agribusiness, of the Suncorp Group and a Director of the Toowoomba Surat Basin Enterprise (TSBE). Previously she has worked in finance, agriculture and manufacturing in Brisbane, Sydney, London and Regional Australia. Mrs Cavanagh is a current Toowoomba Grammar School parent.
Mr Harrison Humphries Mr Harrison Humphries was appointed to the Board of Trustees in September 2020. Mr Humphries attended Toowoomba Grammar School from 2001 to 2005 and was Senior Prefect in 2005. Mr Humphries is the Head of Litigation and Dispute Resolution at local law firm, Clifford Gouldson Lawyers. He is also the President of the Toowoomba Chamber of Commerce. Mr Humphries has a long association with local cricket and is presently Toowoomba Cricket’s Commissioner.
Mr Glen McCracken FAICD, FTIA Mr Glen McCracken was appointed to the Board of Trustees in 1990. In 1999 he was appointed Chairperson and he resigned from this position after 1 December, 2019 and remained a Trustee until his resignation on 7 September 2020. Mr McCracken attended Toowoomba Grammar School from 1970-1974 and was Senior Dayboy Prefect in 1974. Mr McCracken is a partner in a Toowoomba legal firm and advises on business, finance, property and succession matters. He is a Fellow of The Tax Institute and a Fellow of the Australian Institute of Company Directors. ~ PAGE 14 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 FINANCE COMMITTEE Mr C J Wicks – Chair Mrs A J Cavanagh Mr B C O’Sullivan Mr B P Baulch (ex-officio)
WORKS COMMITTEE Dr R M Domrow - Chair Board of Trustees Mr H J Humphries Mr B C O’Sullivan Mr B P Baulch (ex-officio)
RISK & COMPLIANCE COMMITTEE Mrs A J Cavanagh - Chair Dr N Hulme-Peake Mr H J Humphries Mr B P Baulch (ex-officio)
Finance Committee Works Committee Risk Management This Committee is responsible for The role of the Works Committee is to and Compliance monitoring and reporting on matters assist and advise the Board of Trustees relating to financial management to fulfil its responsibilities to the School Committee including, but not limited to, review on matters relating to property master The Risk Management and Compliance of the year end financial statements, planning, capital works, building programs Committee assists the Board in the liasing with the external auditors, and the development of the School following areas: financial policies, budgets, financial grounds, facilities and infrastructure. The • General risk oversight and performance compared with goals, as Works Committee met five times in 2020. monitoring well as proposing major transactions and programs (either new or revised) • Internal control and risk to the Board. The Finance Committee management met nine times in 2020. • Risk transfer and insurance • Corporate governance The Risk Management and Compliance Committee met seven times in 2020.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 15 Legislative Requirements continued...
Executive Management
Headmaster Head of Junior School Director of Sport and Activities Mr PB Hauser Mr SD Campbell Mr SR Fryer BEc, DipEd, MEdSt (Mon), BEd (Melb), FACEL, MEd (UTS), BEd, DipT (UNSW), MACE, MACEL B.Ed (QUT) FAIM, FACE, GAICD (retired 31 December 2020) Director of Studies Director of Enrolments and Dr JA Young Marketing Deputy Headmaster BSc (Hons), PhD (UQ), MTeach (QUT), Mr BJ Foley Mr JC Anderson MLeadership (QUT) BAppSc (UQ), LLB (Hons) (QUT) BEd (UQ), MACEL (ceased in position effective 18 December 2020) Director of Boarding Head of Senior School Mr JM Noble Chief Financial Officer Mr MS Oliphant BBus (Accounting) (QUT), GradDipEd (ACU) Mrs CN Onley BAppSc (Hons) (UQ), MEd (USQ) BCom (UQ), GDipEnvMan. (UQ), CA
Organisational Chart
Heads of House, Counsellor, Head of Senior School Co-ordinator of Pastoral Care
Deputy Junior School Teachers and Head of Junior School Headmaster Junior School Admin Staff
Heads of Departments, Enrichment/ Director of Studies Support Teachers and Learning Enrichment Headmaster Director of Directors of Sport & Activities, Cadets, Sport & Activities Masters in Charge, Activity Co-ordinators and Director of Performance
Director of Boarding Boarding Heads of House, Resident Staff
Health Centre Staff
Human Resources Manager
Director of Information Technology Chief Financial Officer
Finance Manager
Risk Management & Compliance Co-ordinator
Facilities Staff (inc Property & House Keeping)
Director of Enrolments and Marketing
~ PAGE 16 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 Risk Management The School also refers to advice and were based on advice from external guidance from the Queensland Audit consultants following in-depth reviews & External Scrutiny Office, Independent Schools Queensland, of the School's infrastructure. Complispace and other professional The School has a Risk Management As a number of the School's key systems bodies to ensure it is abreast of latest and Compliance Committee which is are Cloud based, there are two internet developments and recommendations responsible for assisting the Board in the connections to provide a solution in the with regard to internal controls and School’s governance and exercising of event that the primary connection fails. governance. due care, diligence and skill in relation The School also has a backup generator to internal controls, risk management, The Chief Financial Officer is responsible to provide continued operation of critical insurance and corporate governance. for, amongst other things, the financial network devices. management and the risk management Achievements of the Risk Management During 2020 an external cybersecurity and compliance function of the School. and Compliance Committee in 2020. audit and penetration test was undertaken through expert security • the School’s response to the National Redress COVID-19 pandemic; consultants with regards to safeguarding During 2020, the School undertook the critical and sensitive data and levels of • increases in Information application process to join the National exposure facing the School. The findings Technology data protection and Redress Scheme. The School was declared from the audit identified potential security measures; by the Minister for Families and Social areas of vulnerability to the School and • the School’s application and Services to be a participating institution the recommendations made by the acceptance to join the National in the National Redress Scheme on 3 consultant are in the process of being Redress Scheme; November 2020. To date, the School is not implemented with an expectation that • an internal review into the salaries, aware of any applicants who have lodged remediation will strengthen the security wages and conditions of our staff an application regarding Toowoomba posture of the School. Given the ongoing to ensure compliance with the Grammar School. threat of cybersecurity, this will be an Enterprise Agreement and relevant iterative process, and the School has legislation; and Information Systems adopted a full-time security role to • an internal review into the School’s continue to provide proactive measures incident handling procedures. & Recordkeeping and education of staff and students Due to the size of our organisation a The School has a mixture of Cloud hosted regarding cyber security. formal internal audit function has not systems and systems hosted on-site. been established. The School has put in The are two server rooms on-site and place, through risk assessments, a number these have recently been fully updated of practices that help it to confirm the updated with new servers, switches and appropriateness of its operations such uninterrupted power supplies. This will as monitoring financial and operational see increased resilience for the School's benchmarks which are also reviewed infrastructure and will improve the yearly by an external independent School's disaster recovery and business organisation. continuity capabilities. These works
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 17
TOOWOOMBA GRAMMAR SCHOOL
BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
~ PAGE 18 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020
Notes 2020 2019 $ $
Income from continuing operations Fees 2 21,841,965 22,615,962 Government grants 3 12,329,009 11,685,992 Investment income 312,659 677,511 Other income 4 5,016,472 1,321,530
Total income from continuing operations 39,500,105 36,300,995
Expenses from continuing operations Employee expenses 5 24,090,339 24,061,890 Supplies and services 6 8,686,544 8,301,079 Depreciation 2,916,409 2,656,467 Finance/borrowing costs 591,891 658,529 Other expenses 7 656,172 386,157
Total expenses from continuing operations 36,941,355 36,064,122
Operating result for the year 2,558,750 236,873
Gain/(loss) for change in assets held at fair value through profit or loss 42,962 556,894
Result for the year before comprehensive income 2,601,712 793,767
Other comprehensive income
Items that will not be reclassified subsequently to operating result: Increase/(decrease) in asset revaluation surplus 16 1,181,315 -
Total other comprehensive income 1,181,315 -
Total comprehensive income 3,783,027 793,767
The Statement of Comprehensive Income is to be read in conjunction with the accompanying notes.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 19
BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2020
Notes 2020 2019 $ $
Current Assets Cash and cash equivalents 8 7,125,606 9,024,069 Other financial assets 9 13,767,187 9,639,124 Trade and other receivables 10 762,907 1,085,971 Other current assets 647,549 988,786 Total current assets 22,303,249 20,737,950
Non-current assets Property, plant and equipment 11 100,621,794 99,391,021 Total non-current assets 100,621,794 99,391,021 Total assets 122,925,043 120,128,971
Current liabilities Trade and other payables 12 1,696,539 1,117,868 Other liabilities 13 438,595 624,968 Provisions 14 2,574,469 2,666,481 Borrowings 15 1,306,238 1,239,092
Total current liabilities 6,015,841 5,648,409
Non-current liabilities
Provisions 14 599,470 668,058
Borrowings 15 9,016,398 10,302,197
Total non-current liabilities 9,615,868 10,970,255
Total liabilities 15,631,709 16,618,664
Net assets 107,293,334 103,510,307
Equity
Retained earnings 68,887,313 66,285,601 Asset revaluation surplus 16 38,406,021 37,224,706
Total equity 107,293,334 103,510,307
The Statement of Financial Position is to be read in conjunction with the accompanying notes.
~ PAGE 20 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020
-
$ 556,894 793,767 236,873 20 19
102,716,540 103,510,307
4 Total
42,962 $ 293,33 , 20
2,558,750 3,783,027 1,181,315 . 107 103,510,307
- - -
$ urplus s 20 19 -
37,224,706 37,224,706
- -
20
evaluation evaluation
r $ 20 1,181,315 ,3151,181
37,224,706 38,406,021 Asset
$ 556,894 793,767 236,873 20 19 - 65,491,834 66,285,601 arnings
e
- 2
42,962 $
Retained 20 50 2,558,7 2,601,71
66,285,601 3 68,887,31
STATEMENT OF CHANGES IN EQUITY IN CHANGES OF STATEMENT FOR THE YEAR ENDED 31 DECEMBER 20 DECEMBER 31 ENDED YEAR FORTHE
of Changes in Equity is to be read in conjunction with the accompanying notes accompanying the with conjunction in read be to is Equity in Changes of
- revaluation
BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL GRAMMAR OF THE TOOWOOMBA BOARD OF TRUSTEES
urplus s eriod The Statement p perations o
evaluation evaluation r
sset sset
a ncome for the ontinuing ontinuing i ncome i ecrease)in d omprehensive omprehensive omprehensive c c Increase/( Other Gain/(loss) of assets held at fair value through profit or loss or profit through value fair at held assets of Gain/(loss) Total Total at 1 January as Balance c from profit Operating Balanceat as 31 December
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 21 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020
Notes 2020 2019 $ $
CASHFLOWS FROM OPERATING ACTIVITIES
Inflows Receipts from customers 26,714,183 26,007,073 Interest and Distributions Received 238,082 457,964 Government Funding 16,443,974 11,685,992 Capital Grants and Donations 115,938 118,689 GST Input Tax Credits Received 1,660,271 1,555,261 Outflows Payments to Suppliers (13,725,042) (12,769,148) Payments to Employees (23,883,995) (23,743,422) Finance Costs (591,891) (658,529) GST Paid to ATO (730,844) (722,406) NET CASH PROVIDED BY OPERATING ACTIVITIES 6,240,676 1,931,474
CASH FLOWS FROM INVESTING ACTIVITIES
Sale/(purchase) of Other Financial Assets (4,034,750) (120,000)
Payments for Property, Plant and Equipment (2,965,867) (1,629,969)
Interest and Distributions Received 74,577 219,547
NET CASH USED IN INVESTING ACTIVITIES (6,926,040) (1,530,422)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Borrowings -
Repayments of Borrowings (1,213,099) (1,153,247)
NET CASH PROVIDED BY FINANCING ACTIVITIES (1,213,099) (1,153,247)
Net Increase/ (Decrease) in Cash and Cash Equivalents (1,898,463) (752,195) Cash and cash equivalents at the beginning of the financial period 8 9,024,069 9,776,264 Cash and cash equivalents at the end of the financial period 8 7,125,606 9,024,069
The Statement of Cash Flows is to be read in conjunction with the accompanying notes.
~ PAGE 22 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
a) Statement of compliance The financial statements have been prepared in compliance with the Financial Accountability Act 2009, the Financial and Performance Management Standard 2019, the Australian Charities and Not-for-profits Commission Act 2012 and the Australian Charities and Not-for-profits Commission Regulation 2013. The statements are general purpose financial statements that have been prepared on an accrual’s basis in accordance with Australian Accounting Standards - Reduced Disclosure Requirements and Interpretations. With respect to compliance with Australian Accounting Standards and Interpretations, the School has applied those requirements applicable to not-for-profit entities, as the School is a not-for-profit public sector entity. Except where stated, the historical cost convention is used. The School does not control other entities. The financial statements include the value of all income, expenses, assets, liabilities and equity for the School as an individual entity.
b) Revenue Revenue is recognised at an amount that reflects the consideration to which the School is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the School: identifies the contract with a customer; identifies the performance obligations in the contract; determines the transaction price which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised. Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are determined using either the 'expected value' or 'most likely amount' method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to the constraining principle are initially recognised as deferred revenue in the form of a separate refund liability. The School recognises contract liabilities for consideration received in respect of unsatisfied performance obligations and reports these amounts as other liabilities in the statement of financial position. Similarly, if the School satisfies a performance obligation before it receives the consideration, the School recognises either a contract asset or a receivable in its statement of financial position, depending on whether something other than the passage of time is required before the consideration is due. All revenue is stated net of the amount of goods and services tax (GST).
i) Fees revenue Course fee related revenue and other education related revenue are recognised when the School satisfies its performance obligation by delivering courses and other educational material to the student.
ii) Interest revenue Interest is recognised using the effective interest method at the date that interest is earned.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 23 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
iii) Other revenue Other revenue is recognised when it is received or when the right to receive payment is established.
c) Grants and contributions Grant revenue is recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. Where the grant agreement is enforceable and contains sufficiently specific performance obligations for the foundation to transfer goods or services to a third-party on the grantor’s behalf, the grant is accounted for under AASB 15 Revenue from Contracts with Customers. In this case, revenue is initially deferred as unearned revenue (contract liability) and recognised as or when the performance obligations are satisfied. Otherwise, the grant or donation is accounted for under AASB 1058 Income of Not-for-Profit Entities, whereby revenue is recognised upon receipt of the grant funding. The School did not receive any specific purpose capital grants nor assets in this financial year. Where contributions of assets are received from the government and other parties they are recognised at fair value on the date of transfer in the Balance Sheet, with a corresponding amount of revenue recognised in the Statement of Comprehensive Income.
d) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with financial institutions and other short-term highly liquid investments with original maturities of three months or less.
e) Trade and other receivables Fee Debtors are recognised at the amounts due at the time of sale or service delivery. Unless prior arrangements are in place, settlement of these amounts is required by the start of each relevant school term. The collectability of receivables is assessed periodically with provision being made for expected credit losses. The loss allowance is estimated based on the probability and timing of potential defaults and takes into account forecast future economic conditions as well as past events. All known bad debts were written off as at 31 December. Other debtors generally arise from transactions outside the usual operating activities of the School and are recognised at their assessed values. Terms are a maximum of 30 days; no interest is charged and no security is obtained.
f) Land held in trust Land identified as Lot 1094 is held at fair value and is subject to a Deed of Grant in Trust (DOGIT). Land identified as Lot 1093 is held at fair value and is subject to a Trust. All the land is retained by the Crown, however the economic benefits of the land accrue to the School and the land is administered by the Board of Trustees of the Toowoomba Grammar School.
g) Acquisitions of assets Actual cost is used for the initial recording of all non-current physical asset acquisitions. Cost is determined as the value given as consideration plus costs incidental to the acquisition, including all other costs incurred in getting the assets ready for use, including architects' fees and engineering design fees. However, any training costs are expended as incurred. Assets acquired at no cost or for nominal consideration are recognised at their fair value at date of acquisition in accordance with AASB 116 Property, Plant and Equipment.
~ PAGE 24 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 h) Property, plant and equipment Items of property, plant and equipment with a cost or other value equal to or in excess of the following thresholds are recognised for financial reporting purposes in the year of acquisition: Buildings $10,000 Land $1 Heritage & Cultural Assets $1 Plant and Equipment $5,000 Items with a lesser value are expensed in the year of acquisition. i) Revaluations of non-current physical assets Land and Buildings and Heritage & Cultural Assets are measured at fair value in accordance with AASB 116 Property, Plant and Equipment, AASB 13 Fair Value Measurement and Queensland Treasury's Non-Current Asset Policies for the Queensland Public Sector. These assets are reported at their revalued amounts, being the fair value at the date of valuation, less any subsequent accumulated depreciation and impairment losses where applicable. In respect of the abovementioned asset classes, the cost of items acquired during the financial year has been judged by management to materially represent their fair value at the end of the reporting period. Plant and equipment is measured at cost. Non-current physical assets measured at fair value are revalued at least every three years. Heritage & Cultural Assets are revalued at least every five years. In those years where an independent valuation is not conducted an interim valuation using appropriate indices is performed where there has been a material variation in the index. Any revaluation increment arising on the revaluation of an asset is credited to the asset revaluation surplus of the appropriate asset class, except to the extent it reverses a revaluation decrement for the asset previously recognised in the Statement of Comprehensive Income. A decrease in the carrying amount on revaluation is charged as an expense, to the extent it exceeds the balance, if any, in the revaluation surplus relating to that asset class. On revaluation, accumulated depreciation is restated proportionately with the change in the carrying amount of the asset and any change in the estimate of remaining useful life. Where assets have not been specifically appraised and valued in the reporting period, their previous valuations are materially kept up to date via the application of relevant indices. The School's independent valuer provides indices for the various types of assets. It is the School’s policy that indexed revaluation of assets will only be accounted for in the School's financial statements if the cumulative change in the index results in a 5% or greater change in the reported asset balances. Indexations assessed by the independent valuer indicate that based on indexation that buildings have been revalued and heritage assets have been revalued in accordance with the Non-Current Asset Policies for Queensland Public Sector (NCAP) 3 Valuation of Assets.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 25 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
j) Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly derived from observable inputs or estimated using another valuation technique. Observable inputs are publicly available data that are relevant to the characteristics of the assets/liabilities being valued. Observable inputs used by the School include, but are not limited to, published sales data for land and general office buildings. Unobservable inputs are data, assumptions and judgements that are not available publicly, but are relevant to the characteristics of the assets/liabilities being valued. Significant unobservable inputs used by the School include subjective adjustments made to observable data to take account of the characteristics of the School's assets/liabilities, internal record of recent construction costs (and /or estimates of such costs) for assets' characteristics/functionality, and assessments of physical condition and remaining useful life. Unobservable inputs are used to the extent that sufficient relevant and reliable observable inputs are not available for similar assets/liabilities. A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. For investments in listed shares, the fair values have been determined based on closing quoted bid prices at the end of the reporting period. For land, buildings and heritage & cultural assets the fair values are based on an external independent interim valuation using market indexation and market data for similar assets.
k) Depreciation of property, plant and equipment Land and Heritage and Cultural Assets are not depreciated as they have an unlimited useful life. Property, plant and equipment is depreciated on a straight-line basis so as to allocate the net cost or revalued amount of each asset, less its estimated residual value, progressively over its estimated useful life to the School. Where assets have separately identifiable components that are subject to regular replacement, these components are assigned useful lives distinct from the asset to which they relate and are depreciated accordingly. Assets under construction (work in progress) are not depreciated until they reach service delivery capacity. For each class of depreciable asset the following depreciation rates are used: Buildings 4.0%-7.7% Plant and Equipment 2.5%-30.0%
l) Impairment of non-current assets All non-current physical assets at cost are assessed for indicators of impairment on an annual basis. If an indicator of possible impairment exists, the School determines the asset's recoverable amount. Any amount by which the asset's carrying amount exceeds the recoverable amount is recorded as an impairment loss. The asset's recoverable amount is determined as the higher of the asset's fair value less costs of disposal and value in use.
~ PAGE 26 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
l) Impairment of non-current assets (continued) An impairment loss is recognised immediately in the Statement of Comprehensive Income, unless the asset is carried at a revalued amount. When the asset is measured at a revalued amount, the impairment loss is offset against the asset revaluation surplus of the relevant asset class to the extent available. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised in the statement of comprehensive income, unless the asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Refer also note 1(i). m) Leases The School assesses at contract inception whether a contract is, or contains a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The School applies the short term lease recognition exemption to its short-term leases (i.e. those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value (i.e. individually less than $10,000). Lease payments on short-term leases and leases of low value assets are recognised as an expense on a straight-line basis over the lease term. n) Trade and other payables Trade and other payables are recognised upon receipt of the goods or services ordered and are measured at the agreed purchase/contract price, gross of applicable trade and other discounts. Amounts owing are unsecured and are generally settled on a 30-day term. o) Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
i) Financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at cost, fair value through comprehensive income (OCI), and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the School’s model for managing them. For a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs to give rise to cash flows that are “solely payments of principal and interest (SPPI)” on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 27 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
i) Financial assets (continued) Subsequent measurement For purpose of subsequent measurement, financial assets are classified in four categories:
• Financial assets at amortised cost (debt instruments) • Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments) • Financial assets at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instrument) • Financial assets at fair value through profit and loss
Financial assets at amortised cost The School measures financial assets at amortised cost if both the following conditions are met:
• The financial asset is held within a business model with the objective to hold financial assets to collect contractual cash flows; and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortised cost are subsequently measured using the effective interest rate method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired. The School’s financial assets at amortised cost includes trade receivables and term deposits. Financial assets at fair value through profit or loss Financial assets at fair value through the profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through the profit or loss or financial assets mandatorily required to be measured at fair value. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognised in the statement of profit or loss. This category includes the School’s investment in the QIC Growth Fund and listed equity investments which the School had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are also recognised as other income in the statement of profit or loss when the right of payment has been established. Derecognition A financial asset (or where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e. removed from the School’s statement of financial position) when:
• The rights to receive cash flows from the asset have expired; or • The School has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without delay to a third party.
~ PAGE 28 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
ii) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings or payables as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The School’s financial liabilities include trade and other payables and borrowings. Subsequent measurement The measurement of financial liabilities depends on their classification as described below: Borrowings After initial recognition, interest bearing borrowings are subsequently measured at amortised cost using the effective interest rate method. Gains and losses are recognised in profit or loss when liabilities are derecognised. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs and is included as a finance cost in the statement of profit or loss. This category generally applies to interest bearing loans and borrowings. Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expired. p) Impairment of financial assets The School recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through the profit or loss. ECL’s are based on the differences between the contractual cash flows due in accordance with the contract and all cash flows that the School expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECL’s are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining useful life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables, the School applies a simplified approach in calculating ECLs. Therefore, the School does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The School has established a provision matrix that is based on its historical credit loss experience, adjusted for forward looking factors specific to the debtors and the economic environment. The School considers a financial asset in default when contractual payments are 90 days past due where there is no agreed payment arrangement in place. However, in certain cases, the School may also consider a financial asset to be in default when internal or external information indicates that the School is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the School. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 29 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
q) Employee benefits Wages, salaries, sick leave, annual leave and long service leave Wages and salaries due but unpaid at reporting date, are recognised in the Statement of Financial Position at the current remuneration rates. For unpaid entitlements expected to be paid within 12 months, or where the School does not have an unconditional right to defer settlement to beyond 12 months after the reporting date, the entitlements are recognised as current liabilities at their undiscounted values. For those entitlements not expected to be paid within 12 months, the entitlements are recognised as non-current liabilities at their present value, calculated using yields based on Fixed Rate Commonwealth Government bonds of similar maturity. Prior history indicates that on average, sick leave taken each reporting year is less than the entitlement accrued. This is expected to continue in future years. Accordingly, it is unlikely that existing accumulated entitlements will be used by employees and no liability for unused sick leave entitlements is recognised. As sick leave is non-vesting, an expense is recognised for this leave as it is taken. Superannuation Contributions are expensed in the year in which they are paid or payable. The School's obligation is limited to its contributions to these funds. Executive remuneration disclosure Executive remuneration disclosures are made in accordance with the section 5 of the Financial Reporting Requirements for Queensland Government Agencies issued by Queensland Treasury and Trade. The School has assessed the key management personnel positions in context of the School being constituted under the Grammar Schools Act 2016. Refer to note 22 for the disclosure. No member of the Board of Trustees received or were entitled to receive any fees during the year.
r) Financing costs Finance costs including interest on bank overdrafts and short-term and long-term borrowings are recognised as an expense in the year in which they are incurred.
s) Taxation Toowoomba Grammar School is exempted from income tax under the Income Tax Assessment Act 1936 and is exempted from other forms of Commonwealth taxation with the exception of Fringe Benefits Tax (FBT) and Goods and Services Tax (GST). GST receivables and payables are recognised in the Statement of Financial Position.
t) Judgements and Assumptions Critical accounting estimates and judgments The estimates and judgements incorporated into the financial statements are based on historical experiences and the best available current information on current trends and economic data, obtained both externally and within the school. The estimates and judgements made assume a reasonable expectation of future events but actual results may differ from these estimates.
~ PAGE 30 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
t) Judgements and Assumptions (continued) Estimates and assumptions that have a potential significant effect relate to the valuation of property, plant and equipment (refer Note 11) and the assessment of impairment of assets, employee entitlements and contingencies. The estimates and underlying assumptions are reviewed on an ongoing basis and any revisions to accounting estimates are recognised in the year in which the estimate is revised and in future periods as relevant.
u) Authorisation of financial statements for issue The financial statements are authorised for issue by the Chairman of the Board of Trustees and the Chief Financial Officer at the date of signing the Certificate of the Board of Trustees.
v) Rounding Amounts included in the financial statements have been rounded to the nearest dollar.
Note 2020 2019 $ $ 2. FEES
Tuition fees 16,746,938 16,704,479 Boarding fees 4,830,112 5,620,405 Enrolment and application fees 264,915 291,078 21,841,965 22,615,962 3. GOVERNMENT GRANTS
State government grants - recurrent 2,768,903 2,740,987 Commonwealth government grants - recurrent 9,560,106 8,945,005 12,329,009 11,685,992 4. OTHER INCOME
Donations 168,047 236,823 Aquatic centre income 624,983 931,079 Government support 18 4,114,965 - Miscellaneous income 108,477 153,628 5,016,472 1,321,530
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 31 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2020 2019
$ $ 5. EMPLOYEE EXPENSES
Employee benefits Salaries and wages 20,548,120 20,678,206 Long service leave expense 325,882 553,607 Employer superannuation contributions 2,392,022 2,455,589
Employee related expenses
Workers' compensation premium 106,248 125,336
Other 718,067 249,152 24,090,339 24,061,890 The number of employees including both full-time and part-time employees measured on a full-time basis.
Number of Employees 162 159
6. SUPPLIES AND SERVICES
Repairs and maintenance 2,366,246 2,362,871 Tuition and co-curricular 1,875,384 2,325,627 Administration and IT 1,334,079 1,246,068 Boarding provisions and services 1,732,375 942,104 Utilities 842,621 947,266 Consultants 373,523 321,484 Other supplies 162,316 155,659 8,686,544 8,301,079
7. OTHER EXPENSES
Doubtful debts expense 280,079 15,034 Insurance 203,548 169,340 Grants expenses 12,030 28,711 Fringe benefits tax 118,420 127,362 Audit fees(1) 42,095 45,710
656,172 386,157 (1) Total audit fees quoted by the Queensland Audit Office relating to the 2020 financial statements are $41,500 (2019:$40,700)
~ PAGE 32 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2020 2019
$ $ 8. CASH AND CASH EQUIVALENTS
For the purposes of the Statement of Cash Flows, cash includes cash on hand and in banks and investments in money market instruments with an original maturity of less than 90 days. Cash at the end of the financial period as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows:
Petty Cash 1,300 1,300 Cash at Bank and Deposits at Call 7,124,306 9,022,769 Total Cash and Cash Equivalents 7,125,606 9,024,069
The Board has set aside the following funds included in notes 8 & 9 for specific purposes: Endowment Fund (scholarships) $6,953,212, Capital Maintenance Fund (Acquisition, Construction & Maintenance of Infrastructure) $1,376,266, Building Fund (Acquisition, Construction & Maintenance of Infrastructure) $1,691,268, Scholarship Fund $343,485, Special Purpose Funds (Prizes, Sick leave, Long Service Leave, Study Leave, Clubs and Refundable Fee Deposits) $769,681.
9. OTHER FINANCIAL ASSETS
Financial assets held at fair value through profit or loss Shares at market value 27,831 30,603 Units in unit trust - at market value 5,584,606 5,488,521 5,612,437 5,519,124
Movement in financial assets held at fair value through profit or loss Shares in listed entities at fair value Opening balance 30,603 29,883 Purchases/donations - - Fair value measurement gains/(losses) (2,772) 720 Closing balance 27,831 30,603
Units in unit trust Opening balance 5,488,521 4,736,569 Purchases/distributions 74,577 219,548 Disposal/fees (24,226) (23,770)
Fair value measurement gains/(losses) 45,734 556,174 Closing balance 5,584,606 5,488,521
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 33 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2020 2019 $ $
Financial assets at amortised cost Short term deposits consist of term deposits held at commercial banking institutions. 8,154,750 4,120,000
Total other financial assets 13,767,187 9,639,124
The units are invested in the QIC Growth Fund - The focus of the Fund is growth rather than income, with the potential for short term capital loss.
Shares are held in the National Australia Bank and Virgin Money UK. These shares form part of an investment portfolio for a bursary fund and were gifted to the School.
10. TRADE AND OTHER RECEIVABLES
Fees outstanding 754,884 957,456 Allowance for expected credit losses (370,000) (135,000) 384,884 822,456 GST input tax credits receivable 256,054 82,893 Other receivables 121,969 180,622 Total trade and other receivables 762,907 1,085,971
Movement in the allowance for expected credit losses for trade receivables
Balance at 1 January 135,000 135,000 Amounts written off during the year (45,079) (15,034) Increase in the allowance 280,079 15,034 Balance at 31 December 370,000 135,000
~ PAGE 34 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2020 2019 $ $ 11. PROPERTY, PLANT AND EQUIPMENT
Land held in trust – at fair value 18,285,000 17,250,000
Freehold land – at fair value 4,504,830 4,249,840
Buildings – at fair value 79,654,237 78,357,407 less accumulated depreciation (5,550,914) (3,181,764) 74,103,323 75,175,643
Plant and equipment – at cost 4,918,154 3,475,729 less accumulated depreciation (1,933,262) (1,458,659) 2,984,892 2,017,070
Work in progress – at cost 574,614 420,658
Heritage and cultural assets – at fair value 169,135 277,810 Total property, plant and equipment 100,621,794 99,391,021
The carrying amounts for plant and equipment at cost do not materially differ from their fair value.
Revaluation of physical assets To provide an indication of the observability of the inputs used to determine the fair value of non-current physical assets, the School has classified the assets into the three levels prescribed under the accounting standards.
Level 1: The fair value of assets traded in active markets is based on quoted market prices at the end of the reporting period. The quoted market price used for assets held by the School is the current bid price. These are accounted for as level 1.
Level 2: The fair value of assets that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an asset are observable, the asset is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the asset is included in level 3.
Where possible, land and building valuations are based on a market value approach where comparable market transactions have been obtained and used in the valuation. For the remaining assets the depreciated replacement cost approach was used in the valuation process. The unobservable inputs such as replacement cost value and useful life determination relies on the experience and judgement of the valuer and therefore these assets are classified as level 3.
Heritage and cultural assets are specialised assets. The valuation performed is not considered to be based on observable market data and have therefore been classified as level 3.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 35 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
An independent revaluation, at fair value, of the Schools Land and Buildings, was performed by Daniel Cooke AAPI - CPV. Registered Valuer No.3816, from Jardine Lloyd Thompson Pty Ltd, Newstead on 30 June 2018.
An independent valuation, at fair value, of the School's Heritage and Cultural Assets was performed by Mr Colin McWilliam NCJV Fine Arts Division Registered Valuer No 384, from McWilliam and Associates Pty Ltd, Sydney in October 2020.
The School’s policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period. There were no transfers between levels for recurring fair value measurements during the year.
~ PAGE 36 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020
- - 4
965,867 $
2, 1,181,315 Total 99,391,021 (2,916,409) 100,621,79
- - - - 810 ssets a
277, 169,135 $ (108,675) Heritage & ultural c
- - -
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420,658 422,180 574,614 $ (268 rogress Work in in Work p
- - 7 2
20 ,070 ,54 ,260) 7 7
105 $ (54 2,01 1,409,535 2,984,89 quipment Plant and and Plant e
- ) - 7 3
49
162,67 $ 1,134,152 75,175,643 74,103,32 (2,369,1 Buildings
- - - - and l
254,990 $ 4,249,840 4,504,830 Freehold Freehold NOTES TO THE FINANCIAL STATEMENTS FINANCIAL THE TO NOTES FOR THE YEAR ENDED 31 DECEMBER 20 DECEMBER 31 ENDED YEAR FORTHE
- - - -
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ritten
w w
20 20 Opening Additions Disposals Transfers Depreciation Revaluation Closing
each for amounts carrying in Movements
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 37 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2020 2019 $ $ 12. TRADE AND OTHER PAYABLES
Sundry creditors 1,308,464 941,181 Accrued expenses 388,075 176,687 Total trade and other payables 1,696,539 1,117,868
13. OTHER LIABILITIES
Current Fees received in advance 438,595 624,968 Enrolment deposits refundable - 280 Total other liabilities 438,595 624,968
The total $280 in 2019 for Enrolment Deposits Refundable represents fee deposits held in trust until the students, who commenced prior to 2008, leave the School or cancel their enrolment. The Enrolment Fee paid for students who commence after 2007 is non-refundable and paid into the Endowment Fund.
14. PROVISIONS
Current Annual leave 261,523 247,518 Long service leave 2,312,946 2,418,963 Total current provisions 2,574,469 2,666,481
Non-current Long service leave 599,470 668,058 Total non-current provisions 599,470 668,058
Although classified as current, the following liabilities are not expected to be settled within the next 12 months Long service leave and related on-costs 1,934,503 1,967,472
~ PAGE 38 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2020 2019 $ $ 15. BORROWINGS
Current Queensland Treasury Corporation loan – unsecured fixed rate loan 1,306,238 1,239,092 Non-current Queensland Treasury Corporation loan – unsecured fixed rate loan 9,016,398 10,302,197 Total borrowings 10,322,636 11,541,289
Principal and interest repayments are made quarterly at rates ranging from 3.12% to 7.558% and the maturity dates for the borrowings range from June 2023 to March 2035. All borrowings by the Board are guaranteed by the Queensland Government.
16. ASSET REVALUATION SURPLUS
Balance 1 Revaluation Balance 31 2019 January Increments December Land held in trust 16,447,888 - 16,447,888 Freehold land 3,405,340 - 3,405,340 Buildings 17,149,648 - 17,149,648 Heritage and cultural assets 222,010 - 222,010 37,224,706 - 37,224,706
Balance 1 Revaluation Balance 31 2020 January Increments December Land held in trust 16,447,888 1,289,990 17,737,878 Freehold land 3,405,340 - 3,405,340 Buildings 17,149,648 - 17,149,648 Heritage and cultural assets 222,010 (108,675) 113,335 37,224,706 1,181,315 38,406,021
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 39 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
17. SUBSEQUENT EVENTS
Effective 1 January 2021 Dr John Kinniburgh commenced with Toowoomba Grammar School as Headmaster replacing Mr Peter Hauser who retired effective 31 December 2020.
The School has disclosed the impact that COVID-19 has had on operations for the year ended 31 December 2020 in Note 18. The situation continues to develop and any future impact on the School’s operations may be dependent on measures imposed by the Australian Government and other countries, such as maintaining social distancing requirements, quarantine, travel restrictions and any economic stimulus that may be provided.
It is not possible to reliably estimate the duration and severity of these consequences as well as the impact of this event on the financial position and results of the business for future periods.
Other than the matters disclosed above, no other matters have arisen in the interval between the end of the financial year and the date of this report which requires disclosure in these financial statements.
18. COVID-19
The impact of the Novel Coronavirus (COVID-19), declared by the World Health Organisation as a ‘Global Pandemic’ on 11 March 2020, has impacted the School’s operations. This impact is reflected in the financial statements for the year ended 31 December 2020.
The School provided families with a 15% reduction in the Term 2 Tuition Fees and General Purpose Levies to reflect the amendments to the educational offering in this term. The pandemic also impacted the School with reductions in both Boarding and Aquatic Centre revenue. The School obtained financial support concessions (refer to Note 4), which were used to pay Jobkeeper to eligible employees and provide financial assistance to families impacted by COVID-19.
The School has considered the key financial risks and uncertainties and has reviewed a range of scenarios for a period, not limited, to the next 12 months, in assessing its ability to continue as a going concern. This included reviewing liquidity and working capital risk, significant accounting judgements and key sources of estimation uncertainty. Despite the impacts of COVID-19, including the continuation of some financial support concessions into 2021, as at the date of these financial statements, the School has sufficient resources to conclude that using the going concern assumption as the basis of preparing these financial statements remains appropriate.
19. CONTINGENT ASSETS AND CONTINGENT LIABILITIES
a) Government capital assistance
Federal and State Governments retain equity in capital projects that are partly funded under their respective capital assistance programmes for a prescribed period of 20 years from the date of practical completion, or useable life of equipment, whichever is the shorter (the minimum period). If the facilities are not used for educational purposes for the minimum period, repayment of some of the capital assistance may be required.
There are no plans to cease operating as a School or to cease using the current facilities for their designated purpose. The Board does not foresee any time or circumstances which may result in the repayment of any capital assistance funding.
b) Legal matters
In the normal course of business issues may arise which involved litigation and commercial negotiation. The Board is not aware of any current matters where a formal claim has been made.
~ PAGE 40 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Notes 2020 2019 $ $ 20. COMMITMENTS
Lease Commitments
Non-cancellable leases contracted for but not capitalised in the financial statements.
Payable – minimum lease payments - not later than 12 months 538,929 471,577 - between 12 months and five years 608,305 325,139 1,147,234 796,716 The leases are for motor vehicles, I.T. equipment and photocopiers with fixed payments due monthly, quarterly or half-yearly in advance. The terms of leases for these assets are generally 3 to 5 years and the value of the individual items leased is less than $10,000.
21. FINANCIAL INSTRUMENTS
Financial assets Cash and cash equivalents 8 7,125,606 9,024,069 Trade and other receivables 10 762,907 1,085,971 Financial assets held at fair value through profit or loss 9 5,584,606 5,519,124 Financial assets at amortised cost 9 8,154,750 4,120,000 Total financial assets 21,627,869 19,749,164
Financial liabilities
Financial liabilities measured at amortised cost Trade and other payables 12 1,696,539 1,117,868 Borrowings 15 10,322,636 11,541,289 Enrolment deposits refundable 13 - 280 Total financial liabilities 12,019,175 12,659,437
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 41 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
22. RELATED PARTIES
The School's main related parties are as follows:
Key management personnel
Any person(s) having authority and responsibility for planning, directing and controlling the activities of the School, directly or indirectly, including any Trustee (whether executive or otherwise) of the School, is considered key management personnel.
Other related parties
Other related parties include close family members of key management personnel and entities that are controlled or jointly controlled by those key management personnel, individually or collectively with their close family members.
During the year, a close family member of one of the key management personnel team was employed by the School for a total annual remuneration of $40,600 (2019: $45,000) to fulfil the roles associated with providing administrative and cleaning services. All services are remunerated in line with the Toowoomba Grammar School Workplace agreement.
23. KEY MANAGEMENT PERSONNEL
The School has assessed the key executive management personnel positions in context of the School being constituted under the Grammar Schools Act 2016. Details of executive management personnel positions, responsibilities, appointment date and remuneration are detailed below. Further information on these positions can be found in the body of the Annual Report under the section relating to governance.
~ PAGE 42 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Current Incumbents
Position Responsibilities Contract classification Date initially and appointment appointed to authority position Elected through roll of 25/01/2018 Elected Trustees electors and appointed by (3 positions) the Governor in Council. 25/01/2018 Appointed by the Governor (2 positions) Ministerial Nominated Trustees Trustees are responsible for the overall governance of the School. in Council. 7/08/2020 (1 position) Additional Governor in Council appointments under 4/09/2020 Additional Trustee S14(1)(c) of the Grammar (1 position) Schools Act 2016 The Headmaster is responsible for the Five year contract (contract Headmaster implementation of plans and strategies as 1/01/2003 expired on 31 Dec 2020) approved by the Board of Trustees The Deputy Headmaster supports the Headmaster Deputy Headmaster in implementation of plans and strategies as Five year contract 1/01/2018 delegated by the Headmaster. The Chief Financial Officer is responsible through the Headmaster for the leadership of, and Chief Financial Officer all matters pertaining to the ongoing Five year contract 30/04/2018 administration of the non–academic function of the School. The Head of the Senior School is responsible through the Headmaster and Deputy Headmaster Head of the Senior School Three year contract 1/01/2018 with the major discipline and student management pertaining to the Senior School. The Head of the Junior School is responsible through the Headmaster with the leadership and Head of the Junior School Five year contract 13/04/2004 all matters pertaining to the Junior School and its future direction. Responsible to the Headmaster through the Deputy Headmaster, for the leadership of and all Director of Studies Three year contract 1/01/2016 matters pertaining to the conduct and delivery of the academic curriculum at the School. The Director of Enrolments is responsible Director of Enrolments & through the Headmaster for the overall operation Five year contract 6/12/2010 Marketing of the Enrolments, Promotions and Marketing areas of the School. The Director of Sport and Activities assists the Director of Sport & Activities Headmaster with the management of the sporting Three year contract 19/02/2018 and co-curricular activities of the School. The Head of Boarding is responsible through the Head of Boarding Headmaster for co-ordinating the work of the Three year contract 1/01/2011 Boarding Housemasters.
The remuneration and other terms of employment for the key executive management personnel are specified in employment contracts. For the 2020 year, remuneration of key executive management personnel increases were based on performance assessments.
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 43 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Remuneration packages for key executive management personnel comprise the following components:
• Short term employee benefits which include: Base - consisting of base salary, allowances and leave entitlements paid and provided for the entire year or for that part of the year during which the employee occupied the specified position. Amounts disclosed equal the amount expensed in the Statement of Comprehensive Income. Non-monetary benefits – consisting of provision of remission for School fees, provision of housing and other benefits together with fringe benefits tax applicable to the benefit. • Long term employee benefits - include long service leave accrued. • Post-employment benefits - include employer superannuation contributions. • Redundancy payments are not provided for within individual contracts of employment. Contracts of employment provide only for notice periods or payment in lieu of notice on termination, regardless of the reason for termination. • No performance bonuses were paid.
2020 Long Term Post Short Term Employee Termination Employee Employee Total Benefits Benefits Benefits Benefits Description Non- Base Monetary $’000 $’000 $’000 $’000 Benefits $’000 $’000
Trustees - 82 - - - 82
Headmaster 474 57 12 22 - 565
Deputy Headmaster 211 58 5 27 - 301
Chief Financial Officer 184 57 5 23 - 269
Director of Studies 158 - 4 19 - 181
Director of Enrolments 169 10 4 18 51 252 Director of Sport & Activities 151 6 4 19 - 180
Head of Boarding 165 28 4 21 - 218 Head of the Junior School 199 12 5 22 - 238 Head of the Senior School 165 41 4 16 - 226
~ PAGE 44 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2019 Long Term Post Short Term Employee Termination Employee Employee Total Benefits Benefits Benefits Benefits Description Non- Base Monetary $’000 $’000 $’000 $’000 Benefits $’000 $’000
Trustees - 56 - - - 56
Headmaster 462 63 12 20 - 557
Deputy Headmaster 208 57 5 27 - 297
Chief Financial Officer 175 52 4 21 - 252
Director of Studies 160 - 4 20 - 184 Director of Enrolments & Marketing 172 9 4 23 - 208 Director of Sport & Activities 154 - 4 19 - 177
Head of Boarding 165 27 4 19 - 215 Head of the Junior School 185 11 5 18 - 219 Head of the Senior School 162 5 4 21 - 192
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 45
CERTIFICATE OF THE BOARD OF TRUSTEES OF THE TOOWOOMBA GRAMMAR SCHOOL
These general purpose financial statements have been prepared pursuant to Section 62(1) of the Financial Accountability Act 2009 (the Act), Section 39 of the Financial and Performance Management Standard 2019, the Australian Charities and Not-for-profits Commission Act 2012, the Australian Charities and Not-for-profits Regulations 2013 and other prescribed requirements.
In accordance with Section 62(1)(b) of the Act we certify that in our opinion:
a) the prescribed requirements for the establishment and keeping the accounts have been complied with in all material respects, and
b) the financial statements have been drawn up to present a true and fair view, in accordance with prescribed accounting standards, of the transactions of the Board of Trustees of the Toowoomba Grammar School for the year ended 31 December 2020 and of the financial position of the School as at the end of that year, and
We acknowledge responsibility under Section 7 and Section 11 of the Financial and Performance Management Standard 2019 for the establishment and maintenance, in all material respects, of an appropriate and effective system of internal controls and risk management processes with respect to financial reporting throughout the reporting period.
In accordance with Section 60.15 of the Australian Charities and Not-for-profit Regulations 2013, we certify that, in our opinion:
i) There are reasonable grounds to believe the registered entity is able to pay all of its debts, as and when they become due and payable; and
ii) The financial statements and notes satisfy the requirements of the Australian Charities and Not-for- profit Commission Act.
B P BAULCH C N ONLEY BCom, LLB (UQ), CA, MAICD BCom., GDipEnvMgt. (UQ), CA
Chairman Secretary to the Board of Trustees
~
26 February 2021 26 February 2021
~ PAGE 46 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 • Queensland • • Audit Office Better p ublic services
INDEPENDENT AUDITOR’S REPORT
Financial Accountability Act 2009 Australian Charities and Not-for-profits Commission Act 2012 – Auditor-General Auditing Standards Auditor’s Responsibilities for the Audit of the Financial Report Australian Charities and Not-for-profits Commission Act 2012 and Ethical Standards Board’s APES Code of Ethics for Professional Accountants Auditor-General Auditing Standards Financial Accountability Act 2009 Australian Charities and Not-for-profits Commission Act 2012 –
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 47 • Queensland • • Audit Office Better public services
Auditor’s auditor’s report that includes my opinion. Reasonable assurance is a high leve entity’s w attention in my auditor’s report to the related disclosures in the conclusions on the audit evidence obtained up to the date of my auditor’s report.
~ PAGE 48 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 • Queensland • • Audit Office Better p ublic services
Auditor-General Act 2009 Financial Accountability Act 2009 entity’s
~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 49 Appendix 1 - Glossary
d) to contribute to and influence the A formulation and advancement of Q ACER educational policy in Queensland; QCS Australian Council for Educational Research e) to exercise general supervision and Queensland Core Skills control over the joint activities of the ANZAC Great Public Schools of Queensland; QDU and Australian and New Zealand Army Corps Queensland Debating Union f) to do all such other things as are ATAR conducive or incidental to the Australian Tertiary Admission Rank attainment of the aims and objects set S forth above or any of them. SOTA C Supporters of the Arts I CA SWQ Chartered Accountant ICAS South West Queensland International Competitions and Assessment for Schools F T ISQ FC Independent Schools Queensland TGS Football Club Toowoomba Grammar School
N TRAMS G Toowoomba Refugee and Migrant Support NAPLAN GPS ASSOCIATION National Assessment Program - Literacy and TVA The Great Public Schools’ Association of Numeracy Toowoomba Volleyball Association Queensland Inc. (commonly referred to as the GPS) was established with the following NYSF objectives: National Youth Science Forum U a) to promote and conduct various forms of activities between member schools UNSW with a view to fostering a spirit of O University of New South Wales fellowship, sound educational practice OP and mutual support and assistance USQ among schools; Overall Position. University of Southern Queensland b) t o promote the welfare and best interests of the Great Public Schools of P Queensland; V c) to consider, deliberate upon and deal P&F VET with educational matters and questions Parents and Friends Association Vocational Education and Training of common policy and principle concerning the Great Public Schools of Queensland;
~ PAGE 50 TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 Appendix 2 - Compliance Checklist
I Annual report Summary of requirement Basis for requirement reference • A letter of compliance from the accountable officer or statutory body Letter of compliance ARRs – section 7 p 1 to the relevant Minister/s • Table of contents p 2 ARRs – section 9.1 • Glossary p 50 • Public availability ARRs – section 9.2 Inside Front Cover Queensland Government Language • Interpreter service statement Services Policy N/A Accessibility ARRs – section 9.3 Copyright Act 1968 • Copyright notice Inside Front Cover ARRs – section 9.4 QGEA – Information Licensing • Information Licensing N/A ARRs – section 9.5 • Introductory Information ARRs – section 10.1 p 3 • Machinery of Government Changes ARRs – section 10.2, 31 and 32 N/A General information • Agency role and main functions ARRs – section 10.2 p 3-12 • Operating environment ARRs – section 10.3 p 10-12 • Government’s objectives for the community ARRs – section 11.1 p 13 Non-financial • Other whole-of-government plans / specific initiatives ARRs – section 11.2 N/A performance • Agency objectives and performance indicators ARRs – section 11.3 p 3-12 • Agency service areas and service standards ARRs – section 11.4 N/A Financial performance • Summary of financial performance ARRs – section 12.1 p 12 • Organisational structure ARRs – section 13.1 p 16 • Executive management ARRs – section 13.2 p 16 • Government bodies (statutory bodies and other entities) ARRs – section 13.3 p 50 Governance – Public Sector Ethics Act 1994 management and • Public Sector Ethics N/A structure ARRs – section 13.4 Human Rights Act 2019 • Human Rights N/A ARRs - section 13.5 • Queensland public service values ARRs – section 13.6 N/A • Risk management ARRs – section 14.1 p 17
Governance – risk • Audit committee ARRs – section 14.2 p 15 management and • Internal audit ARRs – section 14.3 p 17 accountability • External scrutiny ARRs – section 14.4 p 17 • Information systems and recordkeeping ARRs – section 14.5 p 17 • Strategic workforce planning and performance ARRs – section 15.1 p 11 Governance – Directive No.04/18 Early Retirement, human resources • Early retirement, redundancy and retrenchment Redundancy and Retrenchment p 11 ARRs – section 15.2 • Statement advising publication of information ARRs – section 16 Inside Front Cover • Consultancies ARRs – section 33.1 Inside Front Cover Open Data • Overseas travel ARRs – section 33.2 Inside Front Cover • Queensland Language Services Policy ARRs – section 33.3 N/A FAA – section 62 Financial statements • Certification of financial statements FPMS – sections 38, 39 and 46 p 46 ARRs – section 17.1 FAA – section 62 • Independent Auditors Report FPMS – sections 46 p 47-49 ARRs – section 17.2
FAA Financial Accountability Act 2009 FPMS Financial and Performance Management Standard 2019 ARRs Annual Report requirements for Queensland Government Agencies
Name of Government body - Board of Trustees of the Toowoomba Grammar School Act or instrument Grammar Schools Act 2016 Functions Operates an open entry, non-academically selective school for boys, both dayboys and boarding. Achievements Refer to pages 4 - 12 of the 2020 Annual Report Financial reporting Transactions of the entity are accounted for in the financial statements Remuneration Refer to Note 23 of the Financial Statements included in the 2020 Annual Report No. scheduled meetings/sessions 11 Total out of pocket expenses Refer to Note 23 of the Financial Statements included in the 2020 Annual Report ~ TOOWOOMBA GRAMMAR SCHOOL | ANNUAL REPORT 2020 PAGE 51 TOOWOOMBA GRAMMAR SCHOOL Annual Report 2020
Toowoomba Grammar School 24 Margaret Street East Toowoomba QLD 4350 PO Box 2900 Toowoomba QLD 4350 www.twgs.qld.edu.au Tel +61 7 4687 2500 E [email protected]