South Metropolitan TAFE ANNUAL REPORT 2017

Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

Table of contents

Statement of Compliance 4 SIGNIFICANT ISSUES IMPACTING THE AGENCY 23 OVERVIEW OF THE AGENCY 5 DISCLOSURES AND LEGAL COMPLIANCE 25 Executive Summary 5 Certification of Financial Statements 26 Welcome from the Chair and Managing Director 6 Auditor General’s Opinion 27

About South Metropolitan TAFE 8 Financial Statements 33 2017 ANNUAL REPORT Organisational Structure 9 Certification of Key Performance Indicators 92 3 Governing Council 10 Key Performance Indicators 93 SOUTH METROPOLITAN TAFE Performance Management Framework 15 Ministerial Directives 98 Our Student Population 16 Other Financial Disclosures 98 AGENCY PERFORMANCE 17 Governance Disclosures 101 Report on Operations 17 Other Legal Requirements 102 Divisional Overviews: 19 Government Policy Requirements 105 • Commerce and Hospitality 19 • Engineering and Transport 20 • Access, Community and Health 21 • Construction, Environment and Maritime 22

This publication is available in alternative formats upon request. Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

STATEMENT OF COMPLIANCE

To the Hon. Suzanne Ellery MLC, Minister for Education and Training In accordance with section 63 of the Financial Management Act 2006, we hereby submit for information and presentation to Parliament, the annual report of South Metropolitan TAFE for the period ending 31 December 2017. This report has been prepared in accordance with the provisions of the Financial Management Act 2006 and the

ANNUAL REPORT 2017 ANNUAL REPORT Vocational Education and Training Act 1996.

4 SOUTH METROPOLITAN TAFE

Elizabeth Carr AM Terry Durant Chair of Governing Council Managing Director 8 March 2018 8 March 2018 Overview ofyearandkeyhighlights2017

EXECUTIVE SUMMARY (STUDENT CURRICULUM HOURS) & EXCEEDED ACHIEVED PROFILE DELIVERY TARGET 2 COMPLETED ON TIME AND ON BUDGET 7,167,547 SATISFACTION

87.1%

WORKS CAPITAL STUDENT NEW RATING

Overview oftheagency MAJOR

Agency performance WE ESTABLISHED MAJOR EMPLOYERS PARTNERSHIPS DELIVERED QUALIFICATIONS OVER SM TAFE DEVELOPED, TAFE’S GOALS,AND PRIORITIES SETTING SOUTH METROPOLITAN

PLAN STRATEGIC STRATEGIES TO

A NEW A NEW

396 impacting theagency Significant issues

2020 WAS

WITH

compliance Disclosures andlegal 26,000 PASSED COMPREHENSIVE STUDENTS ACCREDITATION COUNCIL’S FOR A NEW COMMENCED PREPARATION SYSTEM MANAGEMENT STUDENT REGISTRATION AUDIT REGISTRATION SUCCESSFULLY SUCCESSFULLY DELIVERED TO TRAINING SM TAFE

THE TRAINING

SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 5 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 6 ANNUAL REPORT 2017 the Western Australianeconomyandjobmarket. training andcurriculum willbedevelopedtosupporttheevolvingneeds ofmajorsectors upcoming opportunities ingrowth sectorssuchasdefence, cybersecurityandautomation.Asa result, organisations. Theseemployerrelationships willplacethecollegeinastrong positiontorespond to with thecollegefostering strong relationships withmajor employers,includinganumberofdefence Significant workwasundertakenin2017toposition thecollegetomeetgoalsofourstrategicplan, sustainability; deliveringahighperformance workforce; andoptimising ouroperations. years, focusesonfourgoals:exceedingcustomer expectations;achievingandmaintainingfinancial now through to2020.Ournewstrategicplan,whichwillguideouractivities overthefollowingthree and fruitfulyear, asthecollegesetaboutplanningandfinalisingourstrategic goalsandinitiativesfrom Welcome toSouthMetropolitan TAFE’s (SMTAFE) 2017AnnualReport. 2017hasbeenaproductive

WELCOME FROMTHECHAIR AND MANAGINGDIRECTOR the agency Overview of Overview oftheagency

Agency performance impacting theagency Significant issues compliance Disclosures andlegal campuses were aparticularlyexciting projects atourMurdoch andMunster The finalisationoftwomajorcapitalworks practices. our teachingandlearning seek tocontinuouslyimprove the qualityof college’s annualAcademicCalendar, aswe now occupyapermanentpositioninthe extensive preparation fortheaudit,will of QualityWeek, aspartofthecollege’s across thecollege.Theestablishment examples ofexcellentteachingpractices the outcomeofaudithighlightedmany this year, andweare pleasedtoshare that comprehensive fiveyearregistration audit the Training Accreditation Council’s The collegesuccessfullyunderwent operates in. training environment thecollegecurrently challenging economicandvocational achievement issignificantinlightofthe 7,167,547 studentcontacthours.This profileGovernment trainingtarget of achieving andexceedingourState Notably, SMTAFE wassuccessfulin Overview oftheagency 8 March 2018 Council Chair ofGoverning Elizabeth Carr delighted that2017sawnumerous awards the outcomesofourstudentsandweare Our successisultimatelymeasured by ensure thesuccessofcentres. continue tobeakeyfocusforthecollege Community andindustryengagementwill employers, industriesandcommunities. the college’s capacitytoengagewithlocal Centres. Thenewskillscentres willimprove for theimplementationofIndustrySkills Plan forJobs,preparations commenced In response totheStateGovernment’s our primarystakeholders,students. environmentsour on-campuslearning for facilities atMurdoch andMunsterwillenrich collaboration. Mostimportantly, thenew and asubsequentenhancementofinternal college’s corporateandsupportteams in November, sawtheco-locationof Murdoch building,which was completed campuses andgrow ourcollege.Thenew continue toconsolidateourcoursesand moment intheearlylifeofSMTAFE aswe feature of2017,representing apivotal Agency performance impacting theagency Significant issues 8 March 2018 Managing Director Terry Durant and socialprosperity ofWestern Australia. training andcontributiontotheeconomic provision ofqualityvocationaleducationand forward anotheryearofbuildinguponour Training, forhersupportin2017.We look Sue ElleryMLC,MinisterforEducationand Lastly, wewouldliketothanktheHon. training. to providing qualityvocational educationand staff’s ongoingenthusiasmandcommitment continuously impressed andthankfulforour Council.Wesupport ofourGoverning are dedication ofourstaff andtheguidance significant progress in2017withoutthe SM TAFE wouldnothaveachievedsuch employment opportunities. Employment foroutstandingsupportofequal the 2017EmployerofYear byBIZLINK Year category, as wellasalsobeingawarded finalist intheLarge Training Provider ofthe the Western AustralianTraining Awards asa fortunate tobeonceagainrecognised at stages.SMTAFEand international was presented toourstudents onlocal,national

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 7 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 8 ANNUAL REPORT 2017 development initiatives. supportive ofbroader workforce to workplacerequirements and remaining contemporary, relevant contributes toSMTAFE’s programs training needs.Industrycollaboration graduates andtheidentificationof programs, theplacementofjob-ready development ofeducationandtraining alongside industrytosupportthe community needs.SMTAFE works responding toindustry, workforce, and the state’s economicdevelopmentby SM TAFE playsanimportantrole in far southasPeel. from Fremantle toArmadaleandas across thesouthmetropolitan region, The college’s 14campusesare spread certificate Itoadvanceddiplomas. SM TAFE deliverscoursesrangingfrom studentsperyear,international Training more than26,000localand most diversetrainingproviders. SM TAFE isoneofWA’s largest and Overview

METROPOLITAN TAFE ABOUT SOUTH Overview oftheagency practical skillsneededforemployment. the workforce, andgraduateshavethe courses are alignedtothe needsof with employersandindustrytoensure SM TAFE maintainscloserelationships fee-for-service trainingcourses. courses, andarangeofcustomised apprenticeships, traineeships, short vocational training,highereducation, SM TAFE provides high-quality Services strengthening ourcommunities • helpingindustryandouremployers • providing studentswithpathways • providing studentswithhighquality • We dothisby: and career development skills toenableemployment We provide studentswith Our purpose Agency performance opportunities forall. through lifelonglearning future grow andcreate theworkforce ofthe extend theircareers opportunities thatcanlaunchand to furthereducationandtraining for pathwaystoemployment training servicesthatprepare them impacting theagency Significant issues thinking and continuousimprovement. look forsolutions andencouragecreative pace withcustomersand marketneeds;we Innovation: We are future focused,keeping focused andwerespond. all ourdecisionsandactions; weare outcomes with thecustomerinmindandatcentre of easy todobusinesswith;serviceisdelivered Agility: We are flexible,inclusive,agile and our dealings. we exudeandexecuteprofessionalism inall services andtrainingdeliverythatweperform; we haveaqualityfocusandlensinthe Excellence: We are excellent atwhatwedo; partners andourselves. in allourdealingswithstudents, collaboratively; weare ethicalandaccountable vision anddeliveringonourpurpose;wework Integrity: Our values forging prosperous futures forour • buildingandnurturingaskilledworkforce • preparing themforjobsorsupporting • for individualsby: Our visionensures weaspire tocreate futures employment andcareer development. a nationalleaderinproviding skillsfor By 2020SMTAFE willberecognised as Our vision communities. todeveloptheircareersfurther learning compliance Disclosures andlegal We are committedtoachievingour and training. purpose ofdeliveringvocationaleducation Education and Training, withtheprimary the Hon.SuzanneElleryMLC,Ministerfor December, SM TAFE wasresponsibleto Workforce Development.FromMarchto MLA, thepreviousMinisterfor Training and was responsibletotheHon.LizaHarvey Between JanuaryandMarch,SM TAFE Responsible Minister Education andTraining Act1996. authority undersection35oftheVocational SM TAFE wasestablishedasastatutory Enabling Legislation ORGANISATIONAL STRUCTURE STRUCTURE Overview oftheagency Agency performance impacting theagency Significant issues

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 9 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 10 ANNUAL REPORT 2017 as follows: Councilmembershipwas In 2017theGoverning Nomination andEvaluationSub-Committee. (FARM), HigherEducationAcademicBoard, andthe Finance, AuditandRiskManagementSub-Committee issues,includingthe for theoversightofkeygovernance Council’sThe Governing sub-committeesare responsible industry. including training,education,communityaffairs and experience andexpertiseacross multiplesectors, CouncilmembersareGoverning chosenfortheirvast 1994 andtheFinancialManagementAct2006. and Training Act1996,PublicSectorManagement of itsstatutoryfunctionsundertheVocational Education oversees the direction of the college through the execution affairs andproviding strategicdirection. Thecouncil responsible foroverseeing thecollege’s operationsand South Metropolitan TAFE’s Councilis Governing Introduction

GOVERNING COUNCIL Overview oftheagency Agency performance impacting theagency Significant issues of theAustralian InstituteofCompany Directors. master’s degree from Harvard Universityandis aFellow of Australia.Elizabethholds aBA(Hons)from UWA, a Council asaWA representative fortheHarvard Club Development Corporation (NSW)andontheNational on theAuditandRiskCommittees fortheUrbanGrowth Authority (WA), Director ofInsuranceandCare (NSW), She isamemberofTheEnvironmental Protection Deputy ChairoftheKokodaTrack Foundation(National). Community ServicesAuditandRiskCommittee (NSW)and Disabilities (NSW),andtheDepartmentofFamily and Catherine’s AgedCare Services(NSW),SetonVilla She chairsStMary’s AnglicanGirlsSchool(WA), St Guinea andtheUnitedStates. inNSW,of politicsandgovernment WA, PapuaNew for IBMandMacquarieGroup andwithinseniorlevels sectors. Shehasworkedinseniorexecutivepositions Her background incorporatestheprivateandpublic organisations inWestern Australiaand NewSouthWales. private,educationandnot-for-profitcovering government, full-time non-executivedirector withaboard portfolio Council sinceitsinceptioninApril2016.Elizabethisa Elizabeth CarrhasbeentheChairofGoverning Elizabeth CarrAM(Chair) compliance Disclosures andlegal Coastal Planning andCoordination Council a numberof stateboards, includingthe Between 2004and2010, Davidservedon of theHumanitiesFaculty AdvisoryCouncil. Professor inHumanitiesandasamember to serveCurtinUniversity asEmeritus Australia’s coastalzone.Davidcontinues address real worldproblems, suchasin unite universityandCSIROscientiststo leading CSIROcollaborationclustersthat research projects inthisarea, mostrecently Regional Planningandhehaslednumerous His academicdisciplineisUrbanand Environment. of HumanitiesandtheSchoolBuilt number ofotherpositionsintheFaculty Vice-Chancellor ofHumanities andina Deputy Vice-Chancellor Pro International, Provost andSeniorDeputy Vice-Chancellor, professional lifeatCurtin University as retired academicwhospentmuchofhis Emeritus Professor DavidWood isa David Wood (DeputyChair) Emeritus Professor Overview oftheagency

from CurtinUniversity. Urban andRegionalPlanningdoctorate (Monash) andaPostgraduateDiplomain David Wood hasaBachelorofArts of RestorationattheWA MaritimeMuseum. Conservation andRestorationCurator and JointHeadoftheDepartment of theArthurHeadBicentennialProject, wheregovernment hewasCoordinator David’s earlierroles were inlocal Council ofWestern Australia. the WA PlanningCommissionandHeritage Committee, bothofwhichhechaired, and and NingalooSustainableDevelopment Duntroon. and isagraduate ofRoyalMilitaryCollege, Australian Army(regular and reserve forces) He servedfor36yearsas anofficer inthe positions intheprivateand publicsectors. 20 yearshehasheldsenior management Overthepast of theCityCockburn. Stephen CainistheChiefExecutiveOfficer Stephen Cain Agency performance impacting theagency Significant issues Committee). member oftheBraveryTrust (Governance on theboard ofHockeyWA andisa Institute ofTransport andLogistics,sits Stephen isafellowoftheChartered General andholdstherankofBrigadier. as anAide-de-camptotheGovernor He continuestoserveintheArmyReserves Exploration Association’s representative the Australian Petroleum Production and project basedroles andforfiveyearsas for 21years,includingsenior corporateand Niegel workedintheoil and gasindustry in Australiaandoverseas. remote andcomplexdevelopmentprojects on NGOs, themediaandgovernments experiences workingwithcommunities, contribution toSMTAFE isinformedby Industries andRegionalDevelopment.His Development attheDepartmentofPrimary Director General,IndustryandEconomic Niegel Graziaiscurrently theacting Deputy Niegel Grazia

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 11 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 12 ANNUAL REPORT 2017 from CurtinUniversity. Niegel holdsaBachelorofBusiness emergency servicesportfolios. mines,energylocal government, and ministersacrossState Government the for sevenyearsonthestaff ofWA the WA publicservice.Healsoserved and Cabinetotheragencieswithin Commission, theDepartmentofPremier with theKimberleyDevelopment Prior appointmentsalsoincluderoles Institute. Council ChairoftheKimberleyTraining Niegel hasformerlyservedasGoverning in thePilbaraandKimberleyregions. has undertakenresidential postings function inanASXtop20companyand in WA. Hehasledthecorporateaffairs Overview oftheagency Government. Aboriginal program areas fortheFederal policy developmentand trainingin Christine spenttenyears workingin Commerce andIndustry. Priortothis, Group AustraliaandtheChamberof Wheeler, Worley Parsons,Compass Fortescue MetalsGroup, Foster employers, includingWoodside Energy, sector forsomeofthecountry’s major Christine hasworkedwithintheprivate in thisarea. Duringthepast25years Christine isrecognised asaspecialist industry sectorsandgroups. infrastructure andabroad rangeof major constructionprojects, mining, with arangeofclientsinvolvedin Coyne &Associates,andworks own consultancybusiness,Christine years Christinehasbeenrunningher spanning 35years.Forthepastfour training servicesthroughout acareer specialist Aboriginalengagementand Christine Coynehasbeenproviding Christine Coyne Agency performance impacting theagency Significant issues Information Association. Member ofthe AustralianLibraryand from CurtinUniversityandisanAssociate University, apostgraduate qualification holds abachelordegree from Murdoch to SMTAFE’s Council.She Governing boards andisavaluablecontributor a memberofvarietymanagement strong community. CrHamblinhasbeen and itsimportanceindevelopinga passionate aboutthevalueofeducation the CityofRockinghamCouncil.Sheis the region forthepast12yearswhileon promoted theimportanceofeducationin of theCityRockingham.Shehas Deborah HamblinistheDeputyMayor Deborah Hamblin and othercustomisedtrainingprograms. cultural awareness, mentoringworkshops development anddeliveryofAboriginal Christine hasbeeninvolvedinthe range ofAboriginalemploymentprojects, engagement servicesandmanaginga As wellasproviding specialistAboriginal compliance Disclosures andlegal number ofnon-executive director board of Company Directors. Fionaholdsa and isagraduateofthe AustralianInstitute Executive MasterofPublic Administration Bachelor ofArts(Social Science), an providing policyadvice.Fionaholdsa of stateandCommonwealth ministers years. Shehasalsoworkedforanumber formorein theStateGovernment than10 executive roles inhumanserviceportfolios Perth Airport,Fionaheldarangeofsenior and informationtechnology. Before joining and riskmanagement,humanresources complaints, marketing,businesssystems and mediamanagement,customer stakeholder engagement,communications including policy, relations, government had responsibility forarange offunctions, Airport formore thansixyears,where she Executive GeneralManagerwithPerth consulting area. Shewaspreviously an Australia, workinginthepublicsector Fiona LanderisapartnerwithDeloitte (resigned October2017) Fiona Lander

Overview oftheagency Advisory CouncilandHealthway. Authority, andmemberoftheWomen’s formerly aDirector ofFremantle Port Young Children’s Foundationandwas Focus, Vice President oftheMeerilinga positions, includingDirector ofYouth Executive Dean ofMedicineandDean and istheformer Pro Vice Chancellorand former DeputyChairofWest CoastInstitute Obstetrics andGynaecology. Julieisthe of the AustralianandNew Zealand Journal Gynaecology andonthe EditorialBoard of ofPsychosomaticObstetricsand Journal for BraveFoundation,EditorinChiefofthe Professional ServicesReview, Ambassador Tribunal ofAustralia,Director of the Member oftheAdministrativeAppeals She isChairoftheClinicalSenateWA, specialist inobstetricsandgynaecology. FRANZCOG PHDMAICD)isamedical Professor JulieQuinlivan(MBBS (resigned August2017) Professor JulieQuinlivan Agency performance impacting theagency Significant issues services management. women’s health,parenting andhealth teenage pregnancy, domesticviolence, and conference presentations covering research reports papers,government more than250books,book chapters, Dame Australia.Shehasco-authored of HealthattheUniversityNotre Council. through theirserviceontheGoverning their valuablecontributiontothecollege Lander andProfessor JulieQuinlivanfor SM TAFE wouldliketothankFiona Council. the Governing SM TAFE andisanex-officio memberof Terry DurantistheManagingDirector of Terry Durant

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 13 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 14 ANNUAL REPORT 2017 • • • • • • • • • • • • • • • • • • • • • • SM TAFE complieswiththefollowingrelevant legislation: and Training Act1996(theAct). The MinisterforEducationandTraining administerstheVocational Education ADMINISTERING LEGISLATION Legislative Environment Working withChildren (CriminalRecord Checking)Act2004 Workers CompensationandInjuryManagementAct1981 Vocational Education andTraining Act1996 Tertiary EducationQualityandStandards AgencyAct2011 State SupplyCommissionAct1991 State Records Act2000 School EducationAct1999 Public SectorManagementAct1994 Public Interest Disclosure Act2003 Occupational SafetyandHealthAct1984 Library Board ofWestern AustraliaAct1951 Industrial RelationsAct1979 Higher EducationSupportAct2013 Freedom ofInformationAct 1982 Financial ManagementAct2006 Equal OpportunityAct1984 Education ServicesforOverseasStudentsRegistrationCharges Act1997 Disability ServicesAct1993 Disability DiscriminationAct1992 Corruption andCrimeCommissionAct2003 Commercial Tenancy (RetailShops)Agreements Act1985 Aboriginal andTorres StraitIslanderCommission AmendmentAct2005 Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal appropriate goal. government relationshipbetween SMTAFE’s outcomesandthemost goals.Thefollowingillustratesthe higher levelgovernment these outcomes,whichultimatelycontributetomeeting desired outcomes.Agencies deliverservicestoachieve goalsareGovernment supportedatagencylevelbyspecific Outcome BasedManagementFramework Government Goal Government

service delivery Results-based FRAMEWORK FRAMEWORK PERFORMANCE MANAGEMENT Desired Outcome needs. industry training community and services tomeet and training education vocational Provision of Overview oftheagency 4. Commercial 3. Entryand 2. Apprenticeships 1. Delivering SM TAFE Services short courses. training, and customised training – courses mainstream leading into bridging courses and traineeships qualifications training recognised nationally Agency performance Management Frameworkin2017. There wasnochangetoSM TAFE’s OutcomeBased Management Framework Changes toOutcomeBased the Departmentforoutcomesunderthatagreement. Training andWorkforce Development.Thecollegereports to and PerformanceAgreement) withtheDepartmentof throughState Government aresource agreement (Delivery SM TAFE receives itsannual fundingallocationfrom the other agencies Shared responsibilities with impacting theagency Significant issues compliance Disclosures andlegal

SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 15 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 16 ANNUAL REPORT 2017 with 5,783students. campusthelargest14 campuses,withtheThornlie deliverysite Approximately 76%ofstudents enrolled ateightofthecollege’s In 2017,26,817uniquestudentsenrolled atSMTAFE. Campus, andFremantle e-Tech. Campus, JandakotKwinana Henderson *Other deliverysitesincludeprisons,ACEPT, Armadale

OUR STUDENTPOPULATION 5,783

Thornlie Campus 4,202

Rockingham Campus 4,178

Carlisle Campus Student numbersbycampus 3,129

Other delivery sites Overview oftheagency 2,902

Beaconsfield Campus 2,231

Bentley Campus 2,146

Murdoch Campus 1,591

Peel Campus Agency performance 871 Maritime Campus 1,274

Offshore delivery sites were maleand40%were female. Approximately 60%ofstudents whostudiedatSMTAFE in2017 courses and24%enrolled incertificateIVandabove courses. certificate IIandbelowcourses,35%enrolled incertificateIII Of thetotalnumberofstudentsenrolled, 41%were enrolled in population. old agegroup, representing 31%ofthetotalSMTAFE student The largest group ofstudents continuedtobethe1519year impacting theagency Significant issues Below Below 47 15 Student populationbyqualificationlevel 9 Graduate Certificate Student populationbyagegroup 15 to19 8,320 190 Associate Degree 20 to24 6,314 675 Advanced Diploma 25 to29 3,133 2,849 compliance Disclosures andlegal Diploma 30 to34 2,488 4,557

Certificate IV 35 to39 12,053 2,029

Certificate III 40 to44 1,527 6,521

Certificate II 45 and 45 and 2,959 above 7,696

Certificate I and below Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

Agency Performance ANNUAL REPORT 2017 ANNUAL REPORT

17 SOUTH METROPOLITAN TAFE

REPORT ON OPERATIONS

In 2017, SM TAFE delivered a total of 9,876,271 student Overall 2017 training effort profile curriculum hours (SCH) to 26,817 students in 39,883 course and non-profile (SCH) enrolments. SCH includes both profile funded training (State Government Profile Non-profile subsidised training) and non-profile training, including domestic 2,585,497 and international fee-for-service delivery, and Commonwealth Government funded activity.

Profile

The amount of profile funded training delivered in 2017 was 7,290,774 7,290,774 SCH to 19,130 students, in 30,329 course enrolments. This represents more than 74% of SM TAFE’s total training delivery activity in 2017.

Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

2017 profile training effort Non-profile funded activity includes domestic fee-for-service key delivery categories courses tailored to meet the contemporary needs of employers and international onshore and offshore clients.

2,943,729 A major source of non-profile funding is Commonwealth Government

1,577,691 funded programs, including the Adult Migrant English Program 1,527,142 1,039,547 851,872 (AMEP) and Skills for Education and Employment (SEE) program. 390,340 351,607

2016 non-profile SCH training effort by funding source Training Training Foundation VET in School

CAVASS/USIQ CAVASS/USIQ 788,241 Apprenticeship Apprenticeship and Traineeship Priority Industry General Industry Skills and Equity

Other Foundation 563,185 551,825 Diploma and above Diploma 362,262 303,389

14,637 1,958

ANNUAL REPORT 2017 ANNUAL REPORT General industry training courses represented the largest

18 profile delivery category comprising 40% of all profile funded Service Delivery Onshore Offshore SOUTH METROPOLITAN TAFE Auspiced delivery. General industry training comprises non-entitlement, Domestic International International institutional based training courses which align to a range State Funded Commonwealth Higher Education Domestic Fee For Funded Programs

of key industry areas. The industry areas with the highest (eg CAT) Programs SCH delivered in 2017 included; automotive (538,500 SCH); information technology (521,979 SCH); hospitality & culinary arts (494,801 SCH); children services (422,951 SCH). Commonwealth funded programs Priority industry training delivery was the second largest profile Under contract to the Australian Government Department of delivery category, accounting for 22% of total profile funded Education and Training, SM TAFE delivered customised commercial delivery. programs through the Adult Migrant English Program (AMEP) and the Skills for Education and Employment (SEE) program. Apprenticeship and traineeship delivery (employment-based training) was the third largest profile delivery category, The college delivered AMEP and SEE services to 1,672 clients accounting for 21% of total profile funded delivery. in 2017. The AMEP program was delivered across three metropolitan Non-profile campuses, six community-based venues and eight rural and SM TAFE achieved 2,585,497 SCH in non-profile funded regional locations. The program enabled many students to achieve training activity delivered to 8,887 students in 10,308 Certificates in Spoken and Written English. The SEE program was course enrolments. delivered at selected metropolitan campuses Fremantle, Certificate IIinElectronics atthe college’s Computer AssemblyandRepairthe the introduction oftheCertificateIIin delivery atMurdoch campus.Additionally, will bebuiltuponin2018,withadditional outcomes. Thesuccessofthepilotcourse in Australiawithstrong employment on cybersecurity, agrowing industry of SMTAFE’s ITcoursestofocusprincipally Rockingham campus.Thecourseisthefirst successfully delivered atthecollege’s Advanced DiplomaofNetworkSecurity 2017 sawthepilotofSMTAFE’s first Lifestyle; HospitalityandCulinaryArts) Financial Services;Creative Industriesand (Information Technology; Businessand Commerce andHospitality the winning students were from SMTAFE. wearable technology, andcostume—fourof —eveningwear, womenswear, menswear, students. Ofthesixcategories was dominatedbytalented SMTAFE students from across Western Australia, exhibition, whichfeatured topdesign Festival. TheFuture RunwayonShow design studentsshoneatthePerthFashion The workof21SMTAFE fashionand delivery ofinformationtechnologycourses. accounted fora50percentgrowth inthe

DIVISIONAL OVERVIEWS Peel and Rockingham Overview oftheagency campuses SM TAFE hospitality. in developing deliverypartnershipswith Crown Resorts,MorrisCorporationandSodexo program. FlightCentre joinColes, Woolworths, Centre channelnewemployeesthrough the new initiativeissettoexpand in2018asFlight the deliveryoftheirentry-level Traineeship. This established apartnershipwithFlightCentre for In 2017,theHospitalityandTourism portfolio 2018. offerings atthecollege’s Bentleycampusin will focusonexpandingthenetworktoinclude realistic simulatedindustrytraining.Thedivision across fourcampuses,provides studentswith a simulatedbusinessnetworkthatoperates The openingoftheSMTAFE Wellness Centre, demand inthisarea. will looktodevelopshortcoursessupport preparation fordeliveryin 2018.Thecollege was addedtothecollege’s scope in2017 much anticipatedbythehairdressing industry, The CertificateIIIinBarbering,whichhasbeen and media. from theWestern Australianfashionindustry graduates andwasattendedbyrepresentatives that showcasedthequalityofSMTAFE techniques. Proto wasanoutstandingevent fashion productionin contrasttomodern of Perth’s originalwetlandsandtailoringskills and Technology. Proto explored thehabitat the AdvancedDiplomaofFashionDesign which showcasedtheworkofgraduatesfrom college’s 47thannualfashionshow, Proto, The fashionportfolioimpressed crowds atthe Agency performance impacting theagency Significant issues Proto. annual fashionshow, The college’s 47th

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 19 ANNUAL REPORT 2017 Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

Engineering and Transport maths) related qualification. The P-TECH model gives students the opportunity (Oil and Gas Process Engineering; to gain applicable skills while studying Defence, Mechanical and Fabrication; in secondary school, as well as the Applied Engineering; Heavy Automotive opportunity to work with industry and and Refrigeration; Aerospace and vocational training providers. SM TAFE’s Logistics; Light Automotive Technology) delivery in this area is expected to The new engineering facility, at the college’s expand in 2018. Munster campus was completed and Eleven new aviation qualifications were was opened by Hon. Sue Ellery, Minister added to SM TAFE’s scope, replacing for Education and Training, in November. superseded qualifications in aviation These new buildings provide state of the supervision, pilot studies, logistics and art facilities for electrical, mechanical warehousing. Major industry partners, and civil engineering students relocating including Royal Aero Club and Heliwest from the college’s Beaconsfield and

ANNUAL REPORT 2017 ANNUAL REPORT Group, were involved in the development Henderson campuses. The facility consists of courses such as the certificates III 20 of specialist testing areas, workshops, and IV in aviation. SOUTH METROPOLITAN TAFE process control rooms, mechatronics laboratories, simulation spaces, computer- Training excellence in the Light Automotive industry has seen increased based learning areas, and staff and support for nationalised TAFE provided student support areas. The opening of delivery. With key contracts in place with these buildings, which is the second stage Toyota, Ford, Hyundai and Nissan, the of the Munster campus development, Training division is meeting the industry training places SM TAFE at the forefront of flexible excellence in the needs through flexible and tailored light automotive and innovative training in the applied solutions. Growth in these areas is industry engineering and process plant industries ensuring that SM TAFE is well positioned as it plays a key role in providing a skilled for the rapid technological advances workforce. in Automation, Hybrid technology, The division collaborated with Cecil Electric vehicles, and Driverless Vehicle Andrews Senior High School, who are developments. currently piloting Western Australia’s first Pathways in Technology (P-TECH) education model, providing students with industry supported pathways into a STEM (science, technology, engineering and Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

Access, Community The Health area secured placements and Health at Graylands Hospital to deliver the Certificate III in Health Services (Health; Adult Migrant English Program; Assistance. SM TAFE is now the only WA Community and Children’s Services; training provider to offer a mental health Foundation Skills and Access) stream in assistance in nursing (AIN) SM TAFE students collaborated with the courses, where students are specifically WA Police Graffiti Team in a joint effort to training to work in a mental health setting. transform vandalised facilities with artistic The college is negotiating with other murals. Students from the Certificate I in health care providers to secure additional Gaining Access to Training and Education placements for 2018. (GATE) and Certificate II in General SM TAFE partnered with the WA Country Education for Adults (CGEA) revitalised Health Service (WACHS) to deliver a vandalised telecommunication huts along Certificate III in Allied Health Assistance the Kwinana freeway into artworks inspired for indigenous WACHS employees. 2017 ANNUAL REPORT by the surrounding river, flora and fauna. The initiative strengthens the WACHS GATE and CGEA are SM TAFE bridging 21

Aboriginal clinical workforce. SOUTH METROPOLITAN TAFE programs for disengaged young people who have struggled with mainstream The division successfully launched education. The programs enable students the dual Certificate IV in Community to gain the skills required to enter the Services and Youth Work qualifications workforce and further education. The in collaboration with local south project received support from Telstra, metropolitan community agencies. Diploma of Enrolled Vodafone and the City of Perth. The murals SM TAFE has been a primary stakeholder Nursing students delivering REACH in the development of the youth work were unveiled by the Minister for Police, Clinics Hon. Michelle Roberts MLA. sector across the south east Perth corridor. It has participated in community, The launch of Roaming Education and industry, networking and youth Community Health (REACH) clinics enabled engagement events. more than 70 students to put their skills into practice in a controlled and supervised The Children’s Services area provided environment, offering blood pressure, training opportunities for students cholesterol and health promotion advice. through local community and family REACH clinics are delivered by Diploma of engagement projects, as well as Enrolled Nursing students to students and integrated work placements in registered staff at various SM TAFE campuses. agencies and schools. Each campus Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

is a member of a regional Early Years the opportunity for prospective apprentices The horticulture area continued to provide Action Group, a network of services and students to network with employers and students with a real life nursery retail supporting children and families. SM TAFE lecturers. The trade event coincided with a learning experience through the biannual students organised community-based grassroots WorldSkills plumbing competition Murdoch plant sale. The exposure to the reading programs and events such as that showcased to employers and students general public generated the opportunity the Rockingham Teddy Bears Picnic. The the expertise and knowledge of current for students to apply their horticulture area also collaborated with sustainability apprentices. knowledge with customers. organisation Little Green Steps to ensure student training is based on authentic and The division partnered with Edith Cowan current resources. University in a joint project monitoring the effects of climate change on rabbitfish at The Adult Migrant English Program area the college’s Fremantle based aquaculture won a new three-year contract with the facility. The project will commence in 2018 Australian Government Department of and provide aquaculture students with Education and Training to deliver English the opportunity to assist with monitoring,

ANNUAL REPORT 2017 ANNUAL REPORT language tuition, childcare services maintenance and managing water quality. and a Home Tutor Scheme to migrants 22 and humanitarian entrants in the south The Australian Centre for Applied SOUTH METROPOLITAN TAFE metropolitan region. Aquaculture Research (ACAAR) was successful in gaining two new Construction, Environment Commonwealth grants for research and Maritime into the health of kingfish grown under aquaculture conditions. ACAAR is the (Building and Construction; Electrical leading aquaculture research group in WA. and Safety; Veterinary Nursing and Animal Studies; Science and Environment; The grants will support significant research Plumbing and Gas; Maritime and projects underpinning the successful Aquaculture; Australian Centre for culture of this species. The centre will Applied Aquaculture Research) improve understanding of health issues for kingfish, including nutrition, disease This year the plumbing portfolio held their resistance and treatments. inaugural South of the River Plumbing Trade Day at the college’s Rockingham Additionally, ACAAR spawned and cultured campus. The event attracted local more than 45,000 yellowtail kingfish for a exhibitors displaying tools, equipment Geraldton-based aquaculture company. and innovations to more than 80 local This allowed the commencement of the plumbing employers. The event provided commercial culture of the species in WA. Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

Significant issues impacting the agency ANNUAL REPORT 2017 ANNUAL REPORT

23 SOUTH METROPOLITAN TAFE Significant issues Disclosures and legal Overview of the agency Agency performance impacting the agency compliance

Western Australian Student Management Jobs and Skills Economic Outlook System (SMS) Centres The state’s economy as measured by SM TAFE will implement a new TAFE As part of the State Government’s Gross State Product (GSP) is expected to sector wide Student Management Plan for Jobs initiative, 2018 will grow in 2018 from 0.25% in 2016-2017 to System (SMS) in 2019. see the launch of Jobs and Skills 3% in 2017-2018. The transitioning from Centres across several of the college’s The SMS aims to maximise operational the mining construction to production campuses. The Centres will act a efficiency and improve client experience phase is near complete with the economy conduit between industry, employers by providing students with timely access to be boosted by higher export volumes and the local community, providing a to course and enrolment information and estimated at 12% in net exports and one-stop shop for information, support streamlined admissions, enrolment and forecast growth in GSP of 3% in 2018. and services related to training, training delivery services. career development and workforce Business investment is likely to stabilise In 2018, SM TAFE will focus on the development. The establishment of in 2018 while increased labour demand is business transformation needed to these Centres will be significant focus set to drive a return to employment growth ANNUAL REPORT 2017 ANNUAL REPORT deliver an enhanced sales and service for the college in 2018. in 2018 of an estimated 1.5% with wage culture and the related capabilities 24 growth expected to remain subdued.

SOUTH METROPOLITAN TAFE including organisational design, staff It is anticipated that the declining capability and capacity, and new demand for apprenticeship delivery, business processes. associated with occupations linked to the construction industry, will continue in 2018. SM TAFE is well positioned to support the Western Australian economy and the State Government‘s jobs focused agenda through the delivery of flexible, institutional and employment based training pathways which target the State’s priority industry skills and occupation needs. Key delivery areas for SM TAFE in 2018 include automotive, metals and engineering, foundation skills, community and children’s services, information and technology and hospitality and tourism. compliance and legal Disclosures Overview oftheagency Agency performance impacting theagency Significant issues

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 25 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 26 ANNUAL REPORT 2017 2 March 2018 Council Chair ofGoverning Elizabeth CarrAM statements misleadingorinaccurate. At thedateofsigningweare notaware ofanycircumstances thatwouldrender theparticulars includedinthefinancial period ending31December2017andthefinancialpositionasat2017. of theFinancialManagementAct2006from proper accountsandrecords topresent fairlythefinancialtransactionsfor The accompanyingfinancialstatementsofSouthMetropolitan TAFE havebeenprepared incompliancewiththeprovisions

STATEMENTS CERTIFICATION OFFINANCIAL Overview oftheagency 2 March 2018 Managing Director Terry Durant Agency performance

impacting theagency Significant issues 2 March 2018 Director Finance David Savill compliance Disclosures andlegal INDEPENDENT INDEPENDENT AUDITOR’S REPORT Overview oftheagency

Agency performance impacting theagency Significant issues

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 27 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 28 ANNUAL REPORT 2017 Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal Overview oftheagency Agency performance impacting theagency Significant issues

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 29 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 30 ANNUAL REPORT 2017 Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal Overview oftheagency Agency performance impacting theagency Significant issues

compliance Disclosures andlegal SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 31 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 32 ANNUAL REPORT 2017 Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal FINANCIAL FINANCIAL STATEMENTS

Overview oftheagency Grants and subsidies and Grants amortisation and expenseDepreciation Supplies and services and Supplies Asset revaluation decrement revaluation Asset sales Cost of Other expensesOther assets non-current of disposal on Loss The Statement of Comprehensive Income conjunction in read be with Comprehensive should accompanying Statement the of The notes. TOTAL DEFICITFORTHEPERIOD COMPREHENSIVE Total othercomprehensive income surplus revaluation asset in Changes Items notreclassified subsequently toprofitorloss INCOME OTHER COMPREHENSIVE DEFICIT FORTHEPERIOD Total income fromStateGovernment charge of free received Services appropriation Service STATE FROM INCOME GOVERNMENT NET COSTOFSERVICES Total income otherthan income fromState Government assets non-current of disposal on Gain Gains service Fee for Revenue Income Total cost ofservices Employee expense benefits Expenses COST OFSERVICES FOR THEYEAR 2017 ENDED31 DECEMBER STATEMENT INCOME OFCOMPREHENSIVE TAFE South Metropolitan Total gains Student fees and charges and fees Student Sales Ancillary trading Interest revenue Interest Total revenue revenue Other Agency performance impacting theagency Significant issues Notes 10 11 17 12 20 34 21 20 14 15 17 16 18 19 9 8 6 31 December 2017 December 31 1 January to 117,476,683 107,335,184 100,407,437 122,745,043 182,049,241 (15,349,833) (15,409,859) 33,046,010 11,622,508 59,304,198 59,303,536 11,284,351 27,848,058 24,144,340 $ 7,922,260 6,927,747 1,727,613 1,058,971 4,156,885 453,105 244,324 367,669 60,026 60,026 662 662 - 31 December 2016 December 31 compliance Disclosures andlegal 11 April to 108,465,288 100,514,836 156,426,220 26,716,513 93,475,527 90,043,943 55,911,384 55,911,384 10,430,536 25,782,171 24,396,265 (7,039,309) (7,039,309) $ 6,974,122 3,288,886 3,431,584 1,202,367 3,360,431 322,568 192,443 274,056 896,094 35,864

- - - - SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 33 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 34 ANNUAL REPORT 2017 Overview oftheagency Reserves assets Intangible The Statement of Financial Position should be read in conjunction in read be with should Position accompanying the Financial Statement notes. of The TOTAL EQUITY Accumulated deficit equity Contributed EQUITY NET ASSETS TOTAL LIABILITIES Total Non-Current Liabilities Provisions Non-Current Liabilities Total Current Liabilities Provisions Payables Current Liabilities LIABILITIES TOTAL ASSETS Total Non-Current Assets Property, equipment and plant equivalents cash and cash Restricted Non-Current Assets Total Current Assets equivalents cash and Cash Current Assets ASSETS AS AT 2017 31DECEMBER STATEMENT OFFINANCIAL POSITION TAFE South Metropolitan Non-current assets classified as held for sale asheld for Non-current assets classified Other current assets Receivables Other current liabilities equivalents cash and cash Restricted Inventories Agency performance Notes impacting theagency Significant issues 22,35 22,35 29 34 32 32 31 27 35 26 25 24 33 23 2017 2017 332,331,303 346,834,501 369,223,643 346,834,501 377,254,620 333,501,744 (22,449,168) 30,420,119 26,559,294 43,752,876 20,448,405 35,684,507 $ 3,860,825 3,860,825 3,181,238 1,088,916 1,178,811 3,220,163 2,929,651 2,719,321 950,074 60,026 81,525 - compliance Disclosures andlegal 2016 2016 388,489,397 371,738,630 381,450,088 381,450,088 421,713,890 372,754,770 40,263,802 35,404,992 48,959,120 25,308,443 40,751,788 (7,039,309) $ 4,858,810 4,858,810 4,378,027 1,542,548 3,776,765 5,718,522 2,877,831 252,867 763,273 10,188 - - Overview oftheagency Employee benefits Payments CASH OPERATING FROM FLOWS ACTIVITIES Utilised as follows: GST paymentsGST purchases on subsidies and Grants services and Supplies Net cash provided by StateGovernment Development Workforce and Training Department - of appropriation Capital Project Reform TAFE the under in transferred Cash Development Workforce and Training Department - of appropriation Service CASH STATE FROM FLOWS GOVERNMENT FOR THEYEAR 2017 ENDED31 DECEMBER STATEMENT OFCASH FLOWS TAFE South Metropolitan The Statement of Cash Flows should be read in conjunction Flows in Cash read be with should Statement accompanying the of The notes. CASH AND CASH EQUIVALENTS AT THEENDOFPERIOD physical assets non-current of Purchase Payments CASH INVESTINGACTIVITIES FROM FLOWS Net cash used inoperating activities Net cash used ininvesting activities Other receipts receipts taxation from GST authority receipts on sales GST Interest received Sales Ancillary trading charges and fees Student service Fee for Receipts paymentsOther Net increase/(decrease) in cash and cash equivalents cash and cash in increase/(decrease) Net physical assets non-current of sale from Proceeds Receipts Cash and cash equivalents at the beginning of period of beginning the at equivalents cash and Cash Agency performance Notes impacting theagency Significant issues 35 35 31 December 2017 2017 December 31 1 January to (117,446,357) (100,241,522) (27,791,021) (11,464,167) 97,785,472 97,785,472 22,032,403 28,143,245 39,492,745 44,392,892 (3,100,782) (2,449,767) (2,444,097) (4,900,147) $ 3,704,701 1,728,742 1,216,832 1,092,705 1,727,613 (453,105) 367,669 5,670 - - 31 December 2016 2016 December 31 compliance Disclosures andlegal 11 April to (108,914,830) 136,839,651 (22,240,224) (91,126,586) 35,599,939 92,665,908 21,937,011 23,888,957 44,392,892 44,392,892 (9,869,411) (2,663,101) (1,334,506) (1,320,173) $ 8,573,804 2,282,220 1,486,651 1,208,897 1,202,367 (322,568) 603,389 274,056 14,333

- SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 35 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 36 ANNUAL REPORT 2017 Capital appropriations intheir capacity owners with Transaction owners: as Total comprehensive income forTotal comprehensive income the period Balance at 11April 2016 2017 YEAR DECEMBER THE FOR 31 ENDED STATEMENT OF CHANGES IN EQUITY South Metropolitan TAFE Net transferred assets under in the TAFE Project Reform Establishment of College funds across the of training College part across as sector funds of the Training Sector Project Establishment Reform Deficit Correction of overstatement of Correction transferred land of in overstatement Total Total The Statement of Changes Equity in The Statement with beread conjunction in should the accompanying notes. Balance at 31December 2017 Net transferred assets out under the TAFE Project Reform Capital appropriations intheir capacity owners with Transaction owners: as forTotal comprehensive income the period Deficit Balance at 1January 2017 Balance at 31December 2016 Other comprehensive income Other comprehensive Overview oftheagency Agency performance 34(b) 34(a) Notes 34 34 34 34 34 impacting theagency Significant issues Contributed Equity 384,865,118 388,489,397 369,223,643 388,489,397 388,489,397 (19,265,754) (71,584,991) $ 52,319,237 (5,400,000) 8,573,804 450,475 ------Reserves $ compliance Disclosures andlegal 60,026 60,026 60,026 ------Accumulated Deficit (15,409,859) (22,449,168) (15,409,859) $ (7,039,309) (7,039,309) (7,039,309) (7,039,309) ------Total Equity 384,865,118 381,450,088 381,450,088 346,834,501 388,489,397 (71,584,991) (19,265,754) (15,349,833) (15,409,859) $ 52,319,237 (7,039,309) (7,039,309) (5,400,000) 8,573,804 450,475 60,026 - (a) (a) 1. 2. (b) (b) Overview oftheagency , land for except convention, cost historical the using accounting of basis accrual the on prepared been have statements financial The ofBasis preparation The statement General year previous consistent are policies these stated, otherwise Unless statements. financial these of preparation in the adopted been have policies accounting following The amended or issued been T Pronouncements Other and Standards 1101'Appl (TI) Instruction by Treasurer's permitted The Early of standards adoption ENDED YEAR FOR THE STATEMENTS FINANCIAL THE NOTES TO SOUTH METROPOLITAN The The instruction appl as S statement Australian Summary ofSummary s The The General measured at fair value. fair at measured 2017 Accounting Standards' includes Standards' Accounting The Standards. Accounting Australian with in accordance prepared in the notes to the financial statements. financial the to notes in the resulting and the modification that of details results, reported had has and required is modification Where authoritative other A Australian provisions provisions from their operative dates. operative their from The (AASB). Board Standard Accounting here t atements of Accounting Concepts and other authoritative pronouncements of the AASB AASB the of pronouncements authoritative other and Concepts Accounting of atements College Financial Management Act Management Financial College . College Col has beenn has ied by the T the by ied lege s s that that to vary application, disclosure, format and wording. wording. and format disclosure, application, vary to ccounting Standards, the Framework, Statements of Accounting Concepts and and Concepts Accounting of Statements Framework, the Standards, ccounting in accordance with the Australi the with in accordance 's financial statements financial 's nd revised Australian Accounting Standards Standards Accounting Australian revised and new applicable any adopted has . cannot early adopt an Australian Accounting Standard unless specifically specifically unless Standard Accounting Australian an adopt early cannot is a not a is Accounting Accounting and take precedence over the the over precedence andtake statements financial of preparation the govern ignificant accounting policies accounting ignificant o pronouncements of the AASB. the of pronouncements s. s. instruction reasurer’s Australian Accounting Standards that have have that Standards Accounting Australian any other of adoption early - for Agency performance ( - ) operative not but profit reporting entity that prepares that entity reporting profit Standards 2006 2006 Standards and Interpretations issued by the Australian Australian by the issued Interpretations and Standards 31 DECEMBER 31 DECEMBER TAFE for the period ended period the for '. '. and the and the Several of these are modified by the T the by modified are these of Several a m by the the by buildings an Accounting Standards, the Framework, Framework, the Standards, an Accounting aterial or significant financial effect upon the upon the effect financial significant or aterial impacting theagency Significant issues T s instruction reasurer’s College and marine craft craft and marine 2017 Australian Accounting Accounting Australian of ication for the the for 31 December 2017 31 December f inancial effect are disclosed are disclosed effect inancial general purpose financial financial purpose general 31 December December 31 ended year w ith those adopted in the the in adopted ith those compliance Disclosures andlegal impose which haveb term 'Australian 'Australian term have been been have reasurer’s reasurer’s legislative legislative

een een SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 37 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 38 ANNUAL REPORT 2017 (c) (e) (d) (a) 2. (a) 1. (b) (b) business of course normal in the liabilities its andextinguish assets its and realise obligations the that assumes which basis concern going a on prepared been have statements financial The year the financial within next and liabilities assets r a significant have that reporting the of end the at uncertainty estimation of sources key other and future, the N fees and charges, fee for service, service, for fee and charges, fees the of revenue operating of majority The receivable. is Revenue Revenue recognition Income The Entities Sector by owners by contributions appropriations Capital contributions. equity as recognised time the (at owners by contributions as restructure Entities Inter AASB equity Contributed College the comprises entity reporting The sta financial the in recognised on amounts effect significant most the in resulting policies the applying of process the in made been have that judgements discloses policies’ accounting in applying by management made 3‘Judgements Note ($). dollars Australian in presented are statements financial The consistently been have statements financial the of preparation the in adopted policies accounting The - non are are arrangements, administrative jor business activities as follows: as activities business jor ma the for recognised is revenue before met be also must criteria recognition specific following The contributions. and grants Overview oftheagency , land for except convention, cost historical the using accounting of basis accrual the on prepared been have statements financial The ofBasis preparation The statement General year previous consistent are policies these stated, otherwise Unless statements. financial these of preparation in the adopted been have policies accounting following The amended or issued been T Pronouncements Other and Standards 1101'Appl (TI) Instruction by Treasurer's permitted The Early of standards adoption ENDED YEAR FOR THE STATEMENTS FINANCIAL THE NOTES TO SOUTH METROPOLITAN The The instruction appl as S statement Summary ofSummary s Australian The The General measured at fair value. fair at measured 2017 Accounting Standards' includes Standards' Accounting The Standards. Accounting Australian with in accordance prepared in the notes to the financial statements. financial the to notes in the resulting and the modification that of details results, reported had has and required is modification Where authoritative other A Australian provisions provisions from their operative dates. operative their from The (AASB). Board Standard Accounting Reporting entityReporting ote 4 ote here t atements of Accounting Concepts and other authoritative pronouncements of the AASB AASB the of pronouncements authoritative other and Concepts Accounting of atements tements. College t College ransfers of net assets to/from other agencies, other than as a result of a restructure of of arestructure of aresult as than other agencies, other to/from assets net of ransfers Financial Management Act Management Financial College . College Col has beenn has ‘Key sources of sources ‘Key ’ requires transfers ’ requires ied by the T the by ied - non and discretionary lege s s that that of administrative arrangements, to be designated by the Government (the o (the Government the by designated be to arrangements, administrative of pretation 1038 ‘ 1038 pretation otherwise stated. otherwise unless presented periods all throughout applied to vary application, disclosure, format and wording. wording. and format disclosure, application, vary to ccounting Standards, the Framework, Statements of Accounting Concepts and and Concepts Accounting of Statements Framework, the Standards, ccounting in accordance with the Australi the with in accordance 's financial statements financial 's t its financial financial its t mee to flows cash positive sufficient generate to able be will nd revised Australian Accounting Standards Standards Accounting Australian revised and new applicable any adopted has recognised and and recognised . cannot early adopt an Australian Accounting Standard unless specifically specifically unless Standard Accounting Australian an adopt early cannot is a not a is Accounting Accounting ' and have been credited directly to Contributed Equity. Contributed to directly credited been have and ' and take precedence over the the over precedence andtake statements financial of preparation the govern ignificant accounting policies accounting ignificant o pronouncements of the AASB. the of pronouncements s. s. instruction reasurer’s Australian Accounting Standards that have have that Standards Accounting Australian any other of adoption early - estimation uncertainty’ estimation for Agency performance adjustment to the carrying amounts of of amounts carrying the to adjustment a material causing of isk ( - ) operative not but profit reporting entity that prepares that entity reporting profit Contributions by Owners Made to Wholly Made to Owners by Contributions in the nature of equity contributions equity of in nature the 'Contributions by Owners Made to Whol to Made Owners by 955'Contributions TI Standards ration received or or received ration conside of value fair the at measured reciprocal. See note See note reciprocal. designated as contributions by contributions as designated 2006 2006 Standards and Interpretations issued by the Australian Australian by the issued Interpretations and Standards 31 DECEMBER 31 DECEMBER ancillary services ancillary TAFE for the period ended period the for '. '. and the and the of, or prior to transfer) before such transfers can be be can transfers such before transfer) to prior or of, College and and Several of these are modified by the T the by modified are these of Several a m by the the by buildings an Accounting Standards, the Framework, Framework, the Standards, an Accounting discloses bodies included bodies aterial or significant financial effect upon the upon the effect financial significant or aterial impacting theagency Significant issues T . s instruction reasurer’s represents revenue revenue represents College 34 , trading , 'Equity'. and marine craft craft and marine 2017 key assumptions made concerning concerning made assumptions key Australian Accounting Accounting Australian of ication for the the for 31 December 2017 31 December activities and Commonwealth Commonwealth and activities f inancial effect are disclosed are disclosed effect inancial n as a result of a of a result n as tha other , have been been have at note 43 owners owners general purpose financial financial purpose general 31 December December 31 ended year w ith those adopted in the the in adopted ith those - Owned Public Sector Sector Public Owned ’s accounting accounting ’s College earned from earned where compliance Disclosures andlegal impose which haveb ‘Related bodies’. ‘Related term 'Australian 'Australian term ly Owned Public Public Owned ly designated as as designated the transfers transfers the have been been have reasurer’s reasurer’s legislative legislative student student , period wner) wner) een een (c) (e) (d) business of course normal in the liabilities its andextinguish assets its andrealise obligations the that assumes which basis concern going a on prepared been have statements financial The year the financial within next and liabilities assets r a significant have that reporting the of end the at uncertainty estimation of sources key other and future, the N sta financial the in recognised onamounts effect significant most the in resulting policies the applying of process the in made been have that judgements discloses policies’ accounting in applying by management made 3‘Judgements Note ($). dollars Australian in presented are statements financial The AASB Inter AASB equity Contributed College the comprises entity reporting The consistently been have statements financial the of preparation the in adopted policies accounting The fees and charges, fee for service, service, for fee and charges, fees the of revenue operating of majority The receivable. is Revenue Revenue recognition Income The Entities Sector by owners by contributions appropriations Capital contributions. equity as recognised time the (at owners by contributions as restructure Entities - non are are arrangements, administrative jor business activities as follows: as activities business jor ma the for recognised is revenue before met be also must criteria recognition specific following The contributions. and grants Overview oftheagency Reporting entityReporting ote 4 ote tements. College t ransfers of net assets to/from other agencies, other than as a result of a restructure of of arestructure of aresult as than other agencies, other to/from assets net of ransfers ‘Key sources of sources ‘Key ’ requires transfers ’ requires - non and discretionary of administrative arrangements, to be designated by the Government (the o (the Government the by designated be to arrangements, administrative of pretation 1038 ‘ 1038 pretation otherwise stated. otherwise unless presented periods all throughout applied t its financial financial its t mee to flows cash positive sufficient generate to able be will recognised and and recognised ' and have been credited directly to Contributed Equity. Contributed to directly credited been have and ' estimation uncertainty’ estimation Agency performance adjustment to the carrying amounts of of amounts carrying the to adjustment a material causing of isk Contributions by Owners Made to Wholly Made to Owners by Contributions in the nature of equity contributions equity of in nature the 'Contributions by Owners Made to Whol to Made Owners by 955'Contributions TI ration received or or received ration conside of value fair the at measured reciprocal. See note See note reciprocal. designated as contributions by contributions as designated ancillary services ancillary of, or prior to transfer) before such transfers can be be can transfers such before transfer) to prior or of, College and and discloses bodies included bodies impacting theagency Significant issues . represents revenue revenue represents 34 , trading , 'Equity'. key assumptions made concerning concerning made assumptions key activities and Commonwealth Commonwealth and activities n as a result of a of a result n as tha other , have been been have at note 43 owners owners - Owned Public Sector Sector Public Owned ’s accounting accounting ’s College earned from earned where compliance Disclosures andlegal ‘Related bodies’. ‘Related ly Owned Public Public Owned ly designated as as designated the transfers transfers the student student , period

wner) wner) SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 39 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 40 ANNUAL REPORT 2017 (c) (f) (e) (d) immediately expensed direct to the Statement of Compr of Statement the to direct expensed immediately property, of Items threshold. the cost the collectively but threshold the below be may item individual of where cost the assets of network or a group of value aggregate the to applied been has threshold capitalisation the 1101, TI with accordance in applicable o (depreciated) ensed exp is assets utilising of cost and the assets as recognised are more or $5,000 costing equipment and plant property, of Items ms which are significant in total). significant are which items similar of agroup of part form they Agreement. R services of Provision reliably. and purchaser the to transfer ership own of andrewards risks significant the when assets other of disposal and goods of sale the from recognised is Revenue goods of Sale Capitalisation/ Property, andequipment plant usually contributions, the comprising College the when value fair at recognised is Revenue R Gains in value nominal at recognised is under for tendered successfully training ‘Income under disclosed funds, in State the of part rming fo services of delivery the of in respect Development Workforce and Training of Department the from received funds The funds State account bank the to deposited are funds those time the at funds College at revenues as recognised are Appropriations Service appropriations Service would services andthe determined reliably services of Contributions value. fair their - non Other non- other and gifts donations, Grants, accrues. interest the as recognised is Revenue Interest business of course normal in the liabilities its andextinguish assets its andrealise obligations the that assumes which basis concern going a on prepared been have statements financial The year the financial within next and liabilities assets r a significant have that reporting the of end the at uncertainty estimation of sources key other and future, the N arising on the disposal of non- of disposal the on arising sta financial the in recognised onamounts effect significant most the in resulting policies the applying of process the in made been have that judgements discloses policies’ accounting in applying by management made 3‘Judgements Note ($). dollars Australian in presented are statements financial The The majority of operating revenue of the the of revenue operating of majority The receivable. is Revenue Revenue recognition Income Inter AASB equity Contributed College the comprises entity reporting The consistently been have statements financial the of preparation the in adopted policies accounting The fees and charges, fee for service, service, for fee and charges, fees The Entities Sector by owners by contributions appropriations Capital contributions. equity as recognised time the (at owners by contributions as restructure Entities - non are are arrangements, administrative jor business activities as follows: as activities business jor ma the for recognised is revenue before met be also must criteria recognition specific following The contributions. and grants Overview oftheagency Reporting entityReporting evenue is recognised by reference to the stage of com of stage the to reference by recognised is evenue ealised ealised ote 4 ote tements. College t ransfers of net assets to/from other agencies, other than as a result of a restructure of of arestructure of aresult as than other agencies, other to/from assets net of ransfers ‘Key sources of sources ‘Key ’ requires transfers ’ requires gains control of the appropriated funds appropriated the of control gains - non and discretionary and reciprocal contributions that are not contributions by owners are recognised at at recognised are owners by contributions not are that contributions reciprocal of administrative arrangements, to be designated by the Government (the o (the Government the by designated be to arrangements, administrative of pretation 1038 ‘ 1038 pretation See note 21 note See otherwise stated. otherwise unless presented periods all throughout applied t its financial financial its t mee to flows cash positive sufficient generate to able be will recognised and and recognised unrealised unrealised e ' and have been credited directly to Contributed Equity. Contributed to directly credited been have and ' xpensing xpensing estimation uncertainty’ estimation Agency performance adjustment to the carrying amounts of of amounts carrying the to adjustment a material causing of isk gains of assets of 'Income from State Government'. from 'Income Contributions by Owners Made to Wholly Made to Owners by Contributions in the nature of equity contributions equity of in nature the 'Contributions by Owners Made to Whol to Made Owners by 955'Contributions TI current assets and assets current ration received or or received ration conside of value fair the at measured reciprocal. See note See note reciprocal. are designated as contributions by contributions as designated the periodinwhich the ancillary services ancillary usually recognised on a net basis. These include gains gains include These basis. net on a recognised usually plant and equipment costing less than $5,000 are are $5,000 than less costing equipment and plant . received is cash when reciprocal contributions reciprocal of, or prior to transfer) before such transfers can be be can transfers such before transfer) to prior or of, competitive tendering arrangements. This revenue revenue This arrangements. tendering competitive College from State Government'. They are the result of of result the are They State Government'. from and and are only recognised recognised only are be purchased if not donated. not if purchased be Delivery Delivery of the items in the group or network exceeds exceeds network or group in the items the of discloses bodies included bodies impacting theagency Significant issues The The . some represents revenue revenue represents 34 , trading , College Performance Agreement are included included are Agreement Performance 'Equity'. fair fair ehensive Income (other than than (other Income ehensive revaluat key assumptions made concerning concerning made assumptions key pletion of the transaction. the of pletion obtains control over the assets assets the over control obtains College value in the period in which the the which in period the in value activities and Commonwealth Commonwealth and activities useful lives. Where Where lives. useful their ver gains control of appropriated appropriated of control gains n as a result of a of a result n as tha other , have been been have at note 43 - non of ions . owners owners when a when meets the terms of the the of terms the meets - Owned Public Sector Sector Public Owned ’s accounting accounting ’s College earned from earned where compliance Disclosures andlegal can be measured measured be can fair value can be be can value fair ‘Related bodies’. ‘Related ly Owned Public Public Owned ly current assets. current designated as as designated the transfers transfers the student student , period where where wner) wner) (f) immediately expensed direct to the Statement of Compr of Statement the to direct expensed immediately property, of Items threshold. the cost the collectively but threshold the below be may item individual of where cost the assets of network or a group of value aggregate the to applied been has threshold capitalisation the 1101, TI with accordance in applicable o (depreciated) ensed exp is assets utilising of cost and the assets as recognised are more or $5,000 costing equipment and plant property, of Items ms which are significant in total). significant are which items similar of agroup of part form they Agreement. R services of Provision reliably. and purchaser the to transfer ership own of andrewards risks significant the when assets other of disposal and goods of sale the from recognised is Revenue goods of Sale Capitalisation/ Property, andequipment plant usually contributions, the comprising College the when value fair at recognised is Revenue R Gains in value nominal at recognised is under for tendered successfully training ‘Income under disclosed funds, in State the of part rming fo services of delivery the of in respect Development Workforce and Training of Department the from received funds The funds State account bank the to deposited are funds those time the at funds College at revenues as recognised are Appropriations Service appropriations Service would services andthe determined reliably services of Contributions value. fair their - non Other non- other and gifts donations, Grants, accrues. interest the as recognised is Revenue Interest arising on the disposal of non- of disposal the on arising Overview oftheagency evenue is recognised by reference to the stage of com of stage the to reference by recognised is evenue ealised ealised gains control of the appropriated funds appropriated the of control gains and reciprocal contributions that are not contributions by owners are recognised at at recognised are owners by contributions not are that contributions reciprocal See note 21 note See unrealised unrealised e xpensing xpensing Agency performance gains of assets of 'Income from State Government'. from 'Income current assets and assets current are the periodinwhich the usually recognised on a net basis. These include gains gains include These basis. net on a recognised usually plant and equipment costing less than $5,000 are are $5,000 than less costing equipment and plant . received is cash when reciprocal contributions reciprocal competitive tendering arrangements. This revenue revenue This arrangements. tendering competitive from State Government'. They are the result of of result the are They State Government'. from are only recognised recognised only are be purchased if not donated. not if purchased be Delivery Delivery of the items in the group or network exceeds exceeds network or group in the items the of impacting theagency Significant issues The The some College Performance Agreement are included included are Agreement Performance fair fair ehensive Income (other than than (other Income ehensive revaluat pletion of the transaction. the of pletion obtains control over the assets assets the over control obtains College value in the period in which the the which in period the in value useful lives. Where Where lives. useful their ver gains control of appropriated appropriated of control gains - non of ions . when a when meets the terms of the the of terms the meets compliance Disclosures andlegal can be measured measured be can fair value can be be can value fair current assets. current

where where SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 41 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 42 ANNUAL REPORT 2017 last valuation occurred as at 31 at as occurred valuation last period. reporting the of end the at value fair asset's the from materially differ not does amount carrying is the fair value at the at value fair the is cost the cost, nominal for or no cost at acquired and equipment plant property, of items For P , land of measurement the for used is model revaluation the an asset, as recognition initial to Subsequent measurement Subsequent L land unrestricted comparable of value market or land) use restricted (high utility approximate similar with land for evidence market with comparison proportionate restated are depreciation Information Information Initial Initial on the basis of current market current of basis on the Where losses. impairment accumulated and depreciation accumulated less cost historical at stated are equipment and plant property, of items other All losses. impairment accumulated and depreciation equipment. and plant property, surplus relating to that asset is retained in the asset revaluati asset the in retained is asset that to relating surplus revaluation any equipment, and plant property, of anitem of derecognition or disposal Upon Derecognition i further for equipment' and plant 'Property, type assets market between distinction clear a provide not does evidence the where required is valuer the by judgement Professional life. ass in made are value fair in estimating andjudgements assumptions significant most The Ltd. Pty cost replacement depreciated cost. replacement depreciated i.e. the asset, the in embodied benefits economic future remaining the replacing of cost buildings use existing for value Fair restricted. is use land where applies normally This use. existing of basis the values. of market basis on the valued are vessels Marine In the absence of market of absence the In amount. revalued the to restated amount net the and asset the of amount carrying gross the against eliminated is depreciation accumulated the transactions, market recent to reference independently valued independently are buildings and and roperty, plant and equipment are initially recognised at cost. cost. at recognised initially are equipment and plant roperty, Overview oftheagency essing whether to apply the existing use bas use existing the apply to whether essing recognition and measurement and recognition market Authority - based evidence is available, the fair value of land and buildings is determined determined is buildings and land of value fair the available, is evidence based Ma rine vessels are valued every three years by professional valuer. The The valuer. professional by years three every valued are vessels rine date of acquisition. of date ( Valuation Services Valuation marine craft marine and buildings - , based evidence Agency performance reference to recent market transactions market recent to by reference determined values December 2017 and was undertaken by Maritime Engineers Engineers Maritime by undertaken was and 2017 December basis determined determined is buildings of value fair the Where Revalued assets are held are assets Revalued , ly the gross carrying amount and the accumulated accumulated andthe amount carrying gross the . Fair value for restricted use land is determined by by determined is land use restricted for value Fair ) and recognised annually andrecognised ) nformation on revaluations. on nformation d buildings is determined on on determined is buildings and land of value fair to note 27 note to Refer assets. use existing and annually by the Western Australian Land Land Australian Western the by annually is to assets and in determining es determining in and assets to is impacting theagency Significant issues . H istorical istorical buildings are specialised or where where or specialised are buildings is determined by reference to the the to reference by determined is (low restricted use land) use restricted (low at fair value less accumulated accumulated less value fair at When When on surplus. cost assets is used used is to ensure that the the that ensure to compliance Disclosures andlegal are rev are for all for alued by by alued . timated timated on the on the other other . last valuation occurred as at 31 at as occurred valuation last period. reporting the of end the at value fair asset's the from materially differ not does amount carrying in line with stand with line in Transportable Buildings useful Estimated annually. calculated is Depreciation benefits. , land of measurement the for used is model revaluation the an asset, as recognition initial to Subsequent measurement Subsequent the at value fair the is cost the cost, nominal for or no cost at acquired and equipment plant property, of items For P L land unrestricted comparable of value market or land) use restricted (high utility approximate similar with land for evidence market with comparison proportionate restated are depreciation Information Information estimated useful lives in a lives useful estimated on the basis of current market current of basis on the Where losses. impairment accumulated and depreciation accumulated less cost historical at stated are equipment and plant property, of items other All losses. impairment accumulated and depreciation equipment. and plant property, Initial surplus relating to that asset is retained in the asset revaluati asset the in retained is asset that to relating surplus revaluation any equipment, and plant property, of anitem of derecognition or disposal Upon Derecognition i further for equipment' and plant 'Property, type assets market between distinction clear a provide not does evidence the where required is valuer the by judgement Professional life. ass in made are value fair in estimating andjudgements assumptions significant most The Ltd. Pty cost replacement depreciated cost. replacement depreciated i.e. the asset, the in embodied benefits economic future remaining the replacing of cost buildings use existing for value Fair restricted. is use land where applies normally This use. existing of basis the values. of market basis on the valued are vessels Marine Treasurer capitalisation like policy, capitalisation College the Under Assets ICT purchase. year following seventh in the derecognised and purchase year following fifth Marine craft Marine All non All Depreciation In the absence of market of absence the In amount. revalued the to restated amount net the and asset the of amount carrying gross the against eliminated is depreciation accumulated the transactions, market recent to reference rolling depreciation methodology. depreciation rolling asset grouped a as recognised is collection library the policy, capitalisation College the Under Library recognised. been has depreciation no and period reporting the during consumed been sense, material Comput equipment general and furniture Plant, trailers and caravans vehicles, Motor - non of revaluation on the and decrements increments record to used is surplus revaluation asset The surplus revaluation Asset Leasehold Improvements Leasehold These are anticipated to have indefinite useful lives. lives. useful indefinite have to anticipated are These College the by controlled art of Works Works Art depreciated. not is Land (a) independently valued independently are buildings and and roperty, plant and equipment are initially recognised at cost. cost. at recognised initially are equipment and plant roperty, . hardware related of operation the to integral is that Software Overview oftheagency essing whether to apply the existing use bas use existing the apply to whether essing recognition and measurement and recognition at year end end year at - market Collection current assets having a limited useful life are sys are life useful a limited having assets current ing, communications and software andsoftware ing, communications ’ s Instruction Instruction s Authority threshold, threshold, - based evidence is available, the fair value of land and buildings is determined determined is buildings and land of value fair the available, is evidence based ard college depreciation rates. depreciation college ard Ma ss of depreciable asset are: asset depreciable of ss cla each for lives in accordance wi accordance in on a class of assets basis assets of onaclass assets current rine vessels are valued every three years by professional valuer. The The valuer. professional by years three every valued are vessels rine date of acquisition. of date ( 1 Valuation Services Valuation marine craft marine and buildings 10 is recognised as a grouped asset asset a grouped as recognised is - , based evidence Agency performance 1 using manner manner . reference to recent market transactions market recent to by reference determined values depreciated over future years years future over depreciated are year given a in Purchases December 2017 and was undertaken by Maritime Engineers Engineers Maritime by undertaken was and 2017 December basis determined determined is buildings of value fair the Where Revalued assets are held are assets Revalued the straight line method, using rates wh rates using method, line straight the th Treasurer th Purchases in a given year ar year a given in Purchases that , ly the gross carrying amount and the accumulated accumulated andthe amount carrying gross the . reflects are classified as property, plant and equipment. equipment. and plant property, as classified are Fair value for restricted use land is determined by by determined is land use restricted for value Fair ) and recognised annually andrecognised ) nformation on revaluations. on nformation (a) d buildings is determined on on determined is buildings and land of value fair 40 years 40 1 to 30 years 30 1 to years 25 1 to 8 5 to 1 1 2years to Computer equipment items, less than the the than less items, equipment Computer ’ to note 27 note to Refer assets. use existing and s Instruction s annually by the Western Australian Land Land Australian Western the by annually to 14 years 14 to the consumption consumption the is to assets and in determining es determining in and assets to is impacting theagency Significant issues y ears . y Their service potential has not, in any any in not, has potential service Their H ears istorical istorical buildings are specialised or where where or specialised are buildings tematically depreciated over their their over depreciated tematically is determined by reference to the the to reference by determined is (low restricted use land) use restricted (low in accordance with with accordance inyear end at . at fair value less accumulated accumulated less value fair at 1 When When on surplus. 10 1 e 100% depreciated in the the in depreciated e 100% cost , and depreciated under a a under depreciated and , of thei of assets is used used is to ensure that the the that ensure to compliance Disclosures andlegal r future economic economic future r ich are reviewed reviewed are ich are rev are for all for alued by by alued . timated timated on the on the other other

. SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 43 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 44 ANNUAL REPORT 2017 in line with stand with line in Transportable Buildings useful Estimated annually. calculated is Depreciation benefits. estimated useful lives in a lives useful estimated Treasurer capitalisation like policy, capitalisation College the Under Assets ICT purchase. year following seventh in the derecognised and purchase year following fifth Marine craft Marine All non All Depreciation rolling depreciation methodology. depreciation rolling asset grouped a as recognised is collection library the policy, capitalisation College the Under Library recognised. been has depreciation no and period reporting the during consumed been sense, material Comput equipment general and furniture Plant, trailers and caravans vehicles, Motor - non of revaluation on the and decrements increments record to used is surplus revaluation asset The surplus revaluation Asset Leasehold Improvements Leasehold These are anticipated to have indefinite useful lives. lives. useful indefinite have to anticipated are These College the by controlled art of Works Works Art depreciated. not is Land (a) . hardware related of operation the to integral is that Software Overview oftheagency at year end end year at - Collection current assets having a limited useful life are sys are life useful a limited having assets current ing, communications and software andsoftware ing, communications ’ s Instruction Instruction s threshold, threshold, ard college depreciation rates. depreciation college ard ss of depreciable asset are: asset depreciable of ss cla each for lives in accordance wi accordance in on a class of assets basis assets of onaclass assets current 1 10 is recognised as a grouped asset asset a grouped as recognised is Agency performance 1 using manner manner . depreciated over future years years future over depreciated are year given a in Purchases the straight line method, using rates wh rates using method, line straight the th Treasurer th Purchases in a given year ar year a given in Purchases that reflects are classified as property, plant and equipment. equipment. and plant property, as classified are (a) 40 years 40 1 to 30 years 30 1 to years 25 1 to 8 5 to 1 1 2years to Computer equipment items, less than the the than less items, equipment Computer ’ s Instruction s to 14 years 14 to the consumption consumption the impacting theagency Significant issues y ears y Their service potential has not, in any any in not, has potential service Their ears tematically depreciated over their their over depreciated tematically in accordance with with accordance inyear end at . 1 10 1 e 100% depreciated in the the in depreciated e 100% , and depreciated under a a under depreciated and , of thei of compliance Disclosures andlegal r future economic economic future r ich are reviewed reviewed are ich (h) (g) in line with stand with line in Transportable Buildings useful Estimated annually. calculated is Depreciation benefits. estimated useful lives in a lives useful estimated Treasurer capitalisation like policy, capitalisation College the Under Assets ICT purchase. year following seventh in the derecognised and purchase year following fifth Marine craft Marine All non All Depreciation rolling depreciation methodology. depreciation rolling asset grouped a as recognised is collection library the policy, capitalisation College the Under Library recognised. been has depreciation no and period reporting the during consumed been sense, material Comput equipment general and furniture Plant, trailers and caravans vehicles, Motor - non of revaluation on the and decrements increments record to used is surplus revaluation asset The surplus revaluation Asset Leasehold Improvements Leasehold These are anticipated to have indefinite useful lives. lives. useful indefinite have to anticipated are These College the by controlled art of Works Works Art depreciated. not is Land (a) Software Software are: asset intangible of class each for lives useful expected The value. College the by controlled assets intangible All life useful (estimated benefit ected exp the of period the for calculated is lives useful finite with assets intangible for Amortisation accumulated any less cost asset expiration or consumption of level the reflects depreciation/amortisation accumulated $ costing assets $5,000 costing assets intangible of Acquisitions ass of Capitalisation/Expensing I amount and an impairment loss is recognised. recognised. is loss impairment an and amount recoverable the to down written is and impaired considered is asset the amount, carrying est is amount recoverable the reporting each of end the at impairment of indication any for tested are assets intangible and equipment and plant Property, of assets Impairment (a) cost The value fair their is cost the cost, nominal I to directly expensed thr these below incurred Costs life. useful their over (amortised) intangible asset. Software costing less than $ than less costing Software asset. intangible related the of part integral an not is that Software equipment. recognised is hardware related the of part integral an is that Software software Computer replacement costs replacement useful in change asignifi is there where or falling is cost replacement the where understated, is materially an where circumstances to limited generally is impairment of risk The . value fair as same the materially be to anticipated is asset specialised revalued regularly of amount entity, income. comprehensive other in decrement a revaluation as recognised is loss the amount, recoverable to down written is asset revalued previously down to recoverable am . hardware related of operation the to integral is that Software Overview oftheagency ntangible assets are initially recognised at cost. For assets acquired at no cost or for for or no cost at acquired assets For cost. at recognised initially are assets ntangible ntangible assets Software that is not integral to the oper the to integral not is that Software at year end end year at - Collection current assets having a limited useful life are sys are life useful a limited having assets current ing, communications and software andsoftware ing, communications ’ s future economic benefits and to evaluate any impairment risk from falling falling from risk impairment any evaluate to and benefits economic future s unless unless ’ s Instruction Instruction s model is applied for subsequent measurement requiring the asset to be carried at at carried be to asset the requiring measurement subsequent for applied is model (a) threshold, threshold, ard college depreciation rates. depreciation college ard a specialised asset has been identified as a surplus asset, the recoverable recoverable the asset, a surplus as identified been has asset a specialised ss of depreciable asset are: asset depreciable of ss cla each for lives in accordance wi accordance in 5,000 on a class of assets basis assets of onaclass assets current life. . the Statement of Comprehensive of Statement the 1 Each 10 is recognised as a grouped asset asset a grouped as recognised is or more, are capitalised. The cost of utilising the utilising of cost The capitalised. are more, or Agency performance 3 5years to 3 ount, an impairment loss is recognised in profit or loss. Where a a Where loss. or profit in recognised is loss impairment an ount, 1 using manner manner . amortisation and accumulated impairment losses. impairment accumulated and amortisation relevant class of assets is reviewed annually to verify that the the that verify to annually reviewed is assets of class relevant depreciated over future years years future over depreciated are year given a in Purchases the straight line method, using rates wh rates using method, line straight the imated. Where the recoverable amount is less than the the than less is amount recoverable the imated. Where ets th Treasurer th Purchases in a given year ar year a given in Purchases that which is reviewed annually reflects are classified as property, plant and equipment. equipment. and plant property, as classified are at the date of acquisition. of date the at an indication of impairment, impairment, of indication an is there Where period. (a) ation of any related hardware. related any of ation 40 years 40 1 to 30 years 30 1 to years 25 1 to 8 5 to 1 1 2years to Computer equipment items, less than the the than less items, equipment Computer ’ s Instruction s 5,000 to 14 years 14 to the consumption consumption the Where an asset measured at cost is written written is cost at measured asset an Where or more and internally generated intangible intangible generated internally and more or impacting theagency Significant issues have a finite useful life and zero residual residual zero and life useful a finite have y ears y Their service potential has not, in any any in not, has potential service Their sed in sed expen is ears . Income tematically depreciated over their their over depreciated tematically in accordance with with accordance inyear end at . As the College the As 1 10 hardware is recognised is hardware 1 e 100% depreciated in the the in depreciated e 100% , and depreciated under a a under depreciated and , ) on the straight line basis line straight the on ) of thei of immediately immediately are esholds the year of acquisition. of year the as property, plant and and plant property, as asset’s depreciation depreciation asset’s assets is expensed expensed is assets compliance Disclosures andlegal r future economic economic future r ich are reviewed reviewed are ich is a not - for - as an an as profit profit cant cant of of

. SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 45 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 46 ANNUAL REPORT 2017 (h) (g) Software Software are: asset intangible of class each for lives useful expected The value. College the by controlled assets intangible All life useful (estimated benefit ected exp the of period the for calculated is lives useful finite with assets intangible for Amortisation accumulated any less cost asset expiration or consumption of level the reflects depreciation/amortisation accumulated (a) $ costing assets $5,000 costing assets intangible of Acquisitions ass of Capitalisation/Expensing I amount and an impairment loss is recognised. recognised. is loss impairment an and amount recoverable the to down written is and impaired considered is asset the amount, carrying est is amount recoverable the reporting each of end the at impairment of indication any for tested are assets intangible and equipment and plant Property, of assets Impairment cost The value fair their is cost the cost, nominal I to directly expensed thr these below incurred Costs life. useful their over (amortised) intangible asset. Software costing less than $ than less costing Software asset. intangible equipment. Software that is not an integral part of the related the of part integral an not is that Software equipment. recognised is hardware related the of part integral an is that Software software Computer replacement costs replacement useful in change a signifi is there where or falling is cost replacement the where understated, is materially an where circumstances to limited generally is impairment of risk The . value fair as same the materially be to anticipated is asset specialised revalued regularly of amount entity, income. comprehensive other in decrement a revaluation as recognised is loss the amount, recoverable to down written is asset revalued previously down to recoverable am Overview oftheagency ntangible assets are initially recognised at cost. For assets acquired at no cost or for for or no cost at acquired assets For cost. at recognised initially are assets ntangible ntangible assets Software that is not integral to the oper the to integral not is that Software ’ s future economic benefits and to evaluate any impairment risk from falling falling from risk impairment any evaluate to and benefits economic future s unless unless model is applied for subsequent measurement requiring the asset to be carried at at carried be to asset the requiring measurement subsequent for applied is model (a) a specialised asset has been identified as a surplus asset, the recoverable recoverable the asset, a surplus as identified been has asset a specialised 5,000 life. . the Statement of Comprehensive of Statement the Each or more, are capitalised. The cost of utilising the utilising of cost The capitalised. are more, or Agency performance 3 5years to 3 ount, an impairment loss is recognised in profit or loss. Where a a Where loss. or profit in recognised is loss impairment an ount, amortisation and accumulated impairment losses. impairment accumulated and amortisation relevant class of assets is reviewed annually to verify that the the that verify to annually reviewed is assets of class relevant imated. Where the recoverable amount is less than the the than less is amount recoverable the imated. Where ets which is reviewed annually at the date of acquisition. of date the at an indication of impairment, impairment, of indication an is there Where period. ation of any related hardware. related any of ation 5,000 Where an asset measured at cost is written written is cost at measured asset an Where or more and internally generated intangible intangible generated internally and more or impacting theagency Significant issues have a finite useful life and zero residual residual zero and life useful a finite have sed in sed expen is . Income As the College the As hardware is recognised is hardware ) on the straight line basis line straight the on ) immediately immediately are esholds the year of acquisition. of year the as property, plant and and plant property, as asset’s depreciation depreciation asset’s assets is expensed expensed is assets compliance Disclosures andlegal is a not - for - as an an as profit profit cant cant of of . (h) (i) (g) (j) (k) Software Software are: asset intangible of class each for lives useful expected The value. College the by controlled assets intangible All life useful (estimated benefit ected exp the of period the for calculated is lives useful finite with assets intangible for Amortisation accumulated any less cost ) 'Receivables' and 'Receivables' ) 2(n note asset expiration or consumption of level the reflects depreciation/amortisation accumulated recognised. is loss impairment an and amount recoverable the to down written is and impaired considered is asset the amount, carrying est is amount recoverable the reporting each of end the at impairment of indication any for tested are assets intangible and equipment and plant Property, of assets Impairment (a) $ costing assets $5,000 costing assets intangible of Acquisitions ass of Capitalisation/Expensing I The cost The value fair their is cost the cost, nominal I to directly expensed thr these below incurred Costs life. useful their over (amortised) intangible asset. Software costing less than $ than less costing Software asset. intangible equipment. Software that is not an integral part of the related the of part integral an not is that Software equipment. recognised is hardware related the of part integral an is that Software software Computer See note 30 note See end the at impairment of indications for tested are cost at assets Surplus measured. is amount recoverable the and impairment of risk at are assets surplus cost, replacement depreciated to by reference replacement costs replacement useful in change asignifi is there where or falling is cost replacement the where understated, is materially an where circumstances to limited generally is impairment of risk The . value fair as same the materially be to anticipated is asset specialised revalued regularly of amount entity, income. comprehensive other in decrement a revaluation as recognised is loss the amount, recoverable to down written is asset revalued previously down to recoverable am T instruments Financial The Leases amortised. or dis for held as classified Assets Position. Financial of Statement the in separately disclosed are and dispose to costs less value fair or amount - Non Non valu fair where impairment material of risk no have value fair at carried assets Surplus asset. the from derived be to expected flows cash future of value present the and sell to costs asset of amount recoverable The indicat any is period reporting each of end the at impairment for tested are use for available yet not assets intangible and life useful indefinite an with assets Intangible cost using using cost the to equates value fair at is instruments financial of measurement and recognition Initial liabilities Financial Financial assets Financial Note Note from derived benefits of pattern the represents this as term lease the over basis line a straight on expensed are payments Lease vehicles. and motor equipment Overview oftheagency ntangible assets are initially recognised at cost. For assets acquired at no cost or for for or no cost at acquired assets For cost. at recognised initially are assets ntangible ntangible assets he Software that is not integral to the oper the to integral not is that Software • • • • • e is det is e College - current assets held for distribution to owners are recognised at the lower of carrying carrying of lower the at recognised are owners to distribution for held assets current College Other Liabilities Other P R R C ’ 36 Current AssetsCurrent s future economic benefits and to evaluate any impairment risk from falling falling from risk impairment any evaluate to and benefits economic future s ayables eceivables equivalent cash and cash estricted equivalents cash and ash unless unless ‘Commitments’. model is applied for subsequent measurement requiring the asset to be carried at at carried be to asset the requiring measurement subsequent for applied is model (a) the effective interest method. interest effective the to market to reference by ermined views re and testing. impairment of See outcome the for assets’ of ‘Impairment has two categories of financial instruments: financial of categories two has ion of impairment. of ion has entered into operating lease arrangements for computers, computing computing computers, for arrangements lease operating into entered has a specialised asset has been identified as a surplus asset, the recoverable recoverable the asset, a surplus as identified been has asset a specialised transaction cost or or cost transaction 5,000 life. . the Statement of Comprehensive of Statement the Each of each reporting period. period. reporting each of or more, are capitalised. The cost of utilising the utilising of cost The capitalised. are more, or Agency performance h 3 5years to 3 ount, an impairment loss is recognised in profit or loss. Where a a Where loss. or profit in recognised is loss impairment an ount, eld for d eld amortisation and accumulated impairment losses. impairment accumulated and amortisation relevant class of assets is reviewed annually to verify that the the that verify to annually reviewed is assets of class relevant note 24 note imated. Where the recoverable amount is less than the the than less is amount recoverable the imated. Where ets s identified as surplus assets is the higher of fair value less less value fair of higher the is assets surplus as identified s the the is impairment of receivables. of impairment for 'Receivables' . value face tribution to o to tribution which is reviewed annually at the date of acquisition. of date the at an indication of impairment, impairment, of indication an is there Where period. ation of any related hardware. related any of ation s - based evidence. Where fair value is determined determined is value fair Where evidence. based 5,000 Where an asset measured at cost is written written is cost at measured asset an Where or more and internally generated intangible intangible generated internally and more or impacting theagency Significant issues have a finite useful life and zero residual residual zero and life useful a finite have S sequent measurement is at amortised amortised at is measurement ubsequent tribution to owners are not depreciated depreciated not are owners to tribution sed in sed expen is wners . Income As the College the As hardware is recognised is hardware irrespective of whether there there whether of irrespective ) on the straight line basis line straight the on ) immediately immediately are esholds the year of acquisition. of year the the leased assets. See See assets. leased the as property, plant and and plant property, as asset’s depreciation depreciation asset’s assets is expensed expensed is assets compliance Disclosures andlegal is a not which normally normally which - for - as an an as profit profit cant cant of of

. SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 47 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 48 ANNUAL REPORT 2017 (i) (j) (k) ) 'Receivables' and 'Receivables' ) 2(n note See note 30 note See end the at impairment of indications for tested are cost at assets Surplus measured. is amount recoverable the and impairment of risk at are assets surplus cost, replacement depreciated to by reference valu fair where impairment material of risk no have value fair at carried assets Surplus asset. the from derived be to expected flows cash future of value present the and sell to costs asset of amount recoverable The indicat any is period reporting each of end the at impairment for tested are use for available yet not assets intangible and life useful indefinite an with assets Intangible T instruments Financial The Leases amortised. or dis for held as classified Assets Position. Financial of Statement the in separately disclosed are and dispose to costs less value fair or amount - Non Non cost using using cost the to equates value fair at is instruments financial of measurement and recognition Initial liabilities Financial Financial assets Financial Note Note from derived benefits of pattern the represents this as term lease the over basis line astraight on expensed are payments Lease vehicles. andmotor equipment Overview oftheagency he • • • • • e is det is e College - current assets held for distribution to owners are recognised at the lower of carrying carrying of lower the at recognised are owners to distribution for held assets current College Other Liabilities Other P R R C 36 Current AssetsCurrent ayables eceivables equivalent cash and cash estricted equivalents cash and ash ‘Commitments’. the effective interest method. interest effective the to market to reference by ermined views re and testing. impairment of See outcome the for assets’ of ‘Impairment has two categories of financial instruments: financial of categories two has ion of impairment. of ion has entered into operating lease arrangements for computers, computing computing computers, for arrangements lease operating into entered has transaction cost or or cost transaction of each reporting period. period. reporting each of Agency performance h eld for d eld note 24 note s identified as surplus assets is the higher of fair value less less value fair of higher the is assets surplus as identified s the the is impairment of receivables. of impairment for 'Receivables' . value face tribution to o to tribution s - based evidence. Where fair value is determined determined is value fair Where evidence. based impacting theagency Significant issues S sequent measurement is at amortised amortised at is measurement ubsequent tribution to owners are not depreciated depreciated not are owners to tribution wners irrespective of whether there there whether of irrespective the leased assets. See See assets. leased the compliance Disclosures andlegal which normally normally which (o) (m) (l) (n) insignificant risk of changes in value. in changes of risk insignificant to subject are which and cash of amount known les or months three of maturities original with deposits See note See note the end of the financial y financial the of end the note (see salaries Accrued equi cash and cash restricted include equivalents cash and cash Flows, Cash of Statement the of purpose the For Cash andcash equivalents rat interest no is there because value short of value fair The there is objective evidence that the College the that evidence objective is there allowance The account. allowance - written are uncollectible as identified receivables any and basis ongoing ( amounts uncollectible any for allowance an less amount invoice original at recognised are Receivables Receivables c which measured resale are for held not Inventories measured being majority the with inventory, of class particular each to appropriate most method the by assigned are Costs . value realisable net and cost of lower the at measured are Inventories Inventories rial. mate not is discounting of effect the as required See note 2(j note See days. 30 within settlement for due is it as value fair to equivalent is amount 26. normal the of instead r occu days pay te equivalents’ 22 note (see account suspense salaries accrued The value. fair its to be equivalent College The end. year financial the of fortnight a within settled are salaries Accrued year. financial the of end the with coincide not Overview oftheagency Accrued salaries n financial years to largely meet the additional cash outlay in each eleventh year when 27 27 when year eleventh each in outlay cash additional the meet largely to years n financial measured measured are they ase 2 on a first in first out basis. out first in on afirst 3 ) consists of amounts paid annual amounts of consists ) ) ‘Financial instruments’ ‘Financial ) 'Inventories'. - i.e. term receivables and payables is the transaction cost or the face face the or cost transaction the is payables and receivables term Agency performance ear, as the as ear, on an on an reviewed is receivables of collectability t). The impairmen 31 cash on hand on cash comprise are These valents. 'Payables') represent the amount due to staff but unpaid at at unpaid but staff to due amount the represent 'Payables') at net realisable value. net at realisable for uncollectible amounts (doubtful debts) is raised when when raised is debts) (doubtful amounts uncollectible for and note and note end of the last pay period period pay last the of end considers the carrying amount of accrued salaries to to salaries accrued of amount carrying the considers e applicable and subsequent subsequent and e applicable No interest is received on this accou on this received is interest No will not be able to col to able be not will at cost unless they are no longer required, in in required, longer no are they unless cost at 2 ly into a suspense account account a ly into suspense 4 impacting theagency Significant issues ‘Receivables’. s that are readily convertible to a a to convertible readily are that s ‘Restricted cash and cash cash and cash ‘Restricted for that financial year does does year financial that for lect the debts. The carrying carrying The debts. the lect measurement is not not is measurement compliance Disclosures andlegal over a period of of period a over and short and off against the the against off nt.

-

term term SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 49 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 50 ANNUAL REPORT 2017 (q) (o) (p) (m) (l) (n) College’s experience of employee retention and leave taken. leave and retention employee of experience College’s the with consistent is calculation This payments. future expected of value present the using determined liability the from different materially not was above technique measurement the using measured liability the that determined 2016 December 31 at Actuaries by PricewaterhouseCoopers undertaken leave long service of assessment An actuarial period. reporting the of end the at as current rates on remuneration based service A liability for long service leave is recognised after an employee has completed 4 completed has employee an after recognised is leave service long for A liability leave service Long of an unconditional right to defer to right an unconditional College the as liability current a as classified is leave annual for provision The esti the possible, as closely as match, that rity to matu terms with bonds government onnational period reporting the of end the at yields market using discounted are payments future expected The service. of periods and departures employee of experience the as well as contributions, non- including levels and salary wage future expected to given is consideration payments future expected assessing When settlement. of time the the when be to paid leave annual reporting the of end the after 12 months within wholly be settled to expected not is leave Annual leave Annual period. reporting the of end the to servic employees’ of in respect are provisions leave service and long leave annual All (i) See note See note the of amount the of esti a reliable and probable is benefits economic embodying resources result a as obligation constructive or legal present a is there where recognised andare amount or timing uncertain of liabilities are Provisions Provisions 'Payables'. ‘Fi 2(j) note See days. 30 within generally is settlement as value, fair to equivalent is amount carrying The services. or assets of a purchase of result College the when recognised are Payables insignificant risk of changes in value. in changes of risk insignificant to subject are which and cash of amount known les or months three of maturities original with deposits See note See note there is objective evidence that the College the that evidence objective is there allowance The account. allowance - written are uncollectible as identified receivables any and basis ongoing ( amounts uncollectible any for allowance an less amount invoice original at recognised are Receivables Receivables c which measured resale are for held not Inventories measured being majority the with inventory, of class particular each to appropriate most method the by assigned are Costs . value realisable net and cost of lower the at measured are Inventories Inventories y financial the of end the note (see salaries Accrued equi cash and cash restricted include equivalents cash and cash Flows, Cash of Statement the of purpose the For Cash andcash equivalents rat interest no is there because value short of value fair The rial. mate not is discounting of effect the as required See note 2(j note See days. 30 within settlement for due is it as value fair to equivalent is amount 26. normal the of instead r occu days pay te equivalents’ 22 note (see account suspense salaries accrued The value. fair its to be equivalent College The end. year financial the of fortnight a within settled are salaries Accrued year. financial the of end the with coincide not Overview oftheagency Accrued salaries Payables n financial years to largely meet the additional cash outlay in each eleventh year when 27 27 when year eleventh each in outlay cash additional the meet largely to years n financial the reporting period. reporting the Provisions measured measured are they ase - long ‘other be to considered therefore is and period 32 2 on a first in first out basis. out first in on afirst 3 ) consists of amounts paid annual amounts of consists ) ) ‘Financial instruments’ ‘Financial ) ‘Provisions’. 'Inventories'. ty is recognised and measured at the present value of amounts expected expected amounts of value present the at measured and recognised is ty liabili - mated future cash outflows. cash future mated employee benefits . period reporting each of end the at reviewed are Provisions obligation. liabilities are settled using the remuneration rate expected to apply at at apply to expected rate remuneration the using settled are liabilities - i.e. term receivables and payables is the transaction cost or the face face the or cost transaction the is payables and receivables term Agency performance ear, as the as ear, on an on an reviewed is receivables of collectability t). The impairmen 31 cash on hand on cash comprise are These valents. settlement of the liability the of settlement 'Payables') represent the amount due to staff but unpaid at at unpaid but staff to due amount the represent 'Payables') at net realisable value. net at realisable salary components such as employer superannuation superannuation employer as such components salary for uncollectible amounts (doubtful debts) is raised when when raised is debts) (doubtful amounts uncollectible for and note and note end of the last pay period period pay last the of end considers the carrying amount of accrued salaries to to salaries accrued of amount carrying the considers e applicable and subsequent subsequent and e applicable No interest is received on this accou on this received is interest No will not be able to col to able be not will becomes obliged to make future payments as a a as payments future make to obliged becomes at cost unless they are no longer required, in in required, longer no are they unless cost at 2 ly into a suspense account account a ly into suspense 4 impacting theagency Significant issues ‘Receivables’. of a past event and when the outflow of of outflow the when and event past a of for at least 12 months after 12months least at for s that are readily convertible to a a to convertible readily are that s ts’ and note 3 note and ts’ instrumen nancial term employee benefits’. The The benefits’. employee term ‘Restricted cash and cash cash and cash ‘Restricted for that financial year does does year financial that for lect the debts. The carrying carrying The debts. the lect measurement is not not is measurement mate can be can mate compliance Disclosures andlegal over a period of of period a over and short and off against the the against off does not have have not does nt. short years of years of the end end the - made made es up up es - hand hand term term 1 (q) (p) College’s experience of employee retention and leave taken. leave and retention employee of experience College’s the with consistent is calculation This payments. future expected of value present the using determined liability the from different materially not was above technique measurement the using measured liability the that determined 2016 December 31 at Actuaries by PricewaterhouseCoopers undertaken leave long service of assessment An actuarial period. reporting the of end the at as current rates on remuneration based service A liability for long service leave is recognised after an employee has completed 4 completed has employee an after recognised is leave service long for A liability leave service Long of an unconditional right to defer to right an unconditional College the as liability current a as classified is leave annual for provision The esti the possible, as closely as match, that rity to matu terms with bonds government onnational period reporting the of end the at yields market using discounted are payments future expected The service. of periods and departures employee of experience the as well as contributions, non- including levels and salary wage future expected to given is consideration payments future expected assessing When settlement. of time the the when be to paid leave annual reporting the of end the after 12 months within wholly be settled to expected not is leave Annual leave Annual period. reporting the of end the to servic employees’ of in respect are provisions leave service and long leave annual All (i) See note See note the of amount the of esti a reliable and probable is benefits economic embodying resources result a as obligation constructive or legal present a is there where recognised andare amount or timing uncertain of liabilities are Provisions Provisions 'Payables'. ‘Fi 2(j) note See days. 30 within generally is settlement as value, fair to equivalent is amount carrying The services. or assets of a purchase of result College the when recognised are Payables Overview oftheagency Payables the reporting period. reporting the Provisions - long ‘other be to considered therefore is and period 32 ‘Provisions’. ty is recognised and measured at the present value of amounts expected expected amounts of value present the at measured and recognised is ty liabili - mated future cash outflows. cash future mated employee benefits . period reporting each of end the at reviewed are Provisions obligation. liabilities are settled using the remuneration rate expected to apply at at apply to expected rate remuneration the using settled are liabilities Agency performance settlement of the liability the of settlement salary components such as employer superannuation superannuation employer as such components salary becomes obliged to make future payments as a a as payments future make to obliged becomes impacting theagency Significant issues of a past event and when the outflow of of outflow the when and event past a of for at least 12 months after 12months least at for ts’ and note 3 note and ts’ instrumen nancial term employee benefits’. The The benefits’. employee term mate can be can mate compliance Disclosures andlegal does not have have not does short years of years of the end end the - made made es up up es hand hand

1 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 51 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 52 ANNUAL REPORT 2017 (q) (p) existing members of the WSS or GESBS and new employees employees new and GESBS or the of WSS members existing 2012, March 30 From (GESBS). Scheme Super GESB the of members became 2007 Scheme Superannuation Scheme Pension the either of members not were who 2007 April 16 to prior employment commencing Employees 1995. since members new to closed scheme sum lump benefit defined since members new to closed scheme pension benefit defined a Scheme, Pension the to contribute employees Eligible sector legislative requirements legislative Australia in Western arrangements superannuation sector public administer funds other and (GESB) Board Superannuation Employees Government The Superannuation expect amounts undiscounted the at measured is and employees for aside set salary of value the recognises provision self to an agreement into r leave purchased for provision The leave Purchased time any providers providers funds other fund superannuation preferred their obligations are funded by concurrent contributions made by the College the by made contributions by concurrent funded are obligations GSS other All Treasurer. the by assumed are Scheme, Pension the from transferred who attributable benefits transfer GSS unfunded andthe Scheme sion Pen unfunded a as reported is is Th year. fifth the in beused to employees for aside set salary of value the recognises provision The agreement. The the extinguishes GESB to College the by made contributions) (defined contributions concurrent the because purposes - whole and employees of the purposes for scheme benefit adefined is GSS The GSS. or Scheme Pension the of members not are who employees of respect ex schemes accumulation Ac (Administration) Guarantee Superannuation Government’s an agreement to self to an agreement pr The Leave Deferred service of years requisite the completed has employee the until liability the of settlement the defer to right unconditional non- as classified are provisions leave - Pre period. reporting the of end the after months 12 least at for liability the of settlement the defer to right unconditional an have not does Unc College’s experience of employee retention and leave taken. leave and retention employee of experience College’s the with consistent is calculation This payments. future expected of value present the using determined liability the from different materially not was above technique measurement the using measured liability the that determined 2016 December 31 at Actuaries by PricewaterhouseCoopers undertaken leave long service of assessment An actuarial period. reporting the of end the at as current rates on remuneration based service A liability for long service leave is recognised after an employee has completed 4 completed has employee an after recognised is leave service long for A liability leave service Long of an unconditional right to defer to right an unconditional College the as liability current a as classified is leave annual for provision The esti the possible, as closely as match, that rity to matu terms with bonds government onnational period reporting the of end the at yields market using discounted are payments future expected The service. of periods and departures employee of experience the as well as contributions, non- including levels and salary wage future expected to given is consideration payments future expected assessing When settlement. of time the the when be to paid leave annual reporting the of end the after 12 months within wholly be settled to expected not is leave Annual leave Annual period. reporting the of end the to servic employees’ of in respect are provisions leave service and long leave annual All (i) See note See note the of amount the of esti a reliable and probable is benefits economic embodying resources result a as obligation constructive or legal present a is there where recognised andare amount or timing uncertain of liabilities are Provisions Provisions 'Payables'. ‘Fi 2(j) note See days. 30 within generally is settlement as value, fair to equivalent is amount carrying The services. or assets of a purchase of result College the when recognised are Payables Overview oftheagency Payables the reporting period. reporting the Provisions onditional long service leave provisions are classified as current liabilities as the College College the as liabilities current as classified are provisions leave service long onditional College ovision for deferred leave relates to Public Service employees who have entered into into entered have who employees Service Public to relates leave deferred for ovision of employees vary according to commencement and implementation dates. implementation and commencement to according vary employees . - rnment reporting. However, it is a defined contribution plan for College for plan contribution a defined is it However, reporting. government - long ‘other be to considered therefore is and period 32 ‘Provisions’. has no liabilities under under noliabilities has ty is recognised and measured at the present value of amounts expected expected amounts of value present the at measured and recognised is ty liabili - current prov current mated future cash outflows. cash future mated employee benefits . period reporting each of end the at reviewed are Provisions obligation. liabilities are settled using the remuneration rate expected to apply at at apply to expected rate remuneration the using settled are liabilities liability is measured on the same basis as annual leave. Deferred leave leave Deferred leave. annual as basis same the on measured is liability - or the GSS bec GSS the or fund anadd fund Agency performance on behalf . Elig - (WSS) fund up to an additional 10 weeks leave per calendar year. The The year. calendar per leave weeks 10 additional an to up fund ’s obligations to the related superannuation liability. superannuation related the to obligations ’s College tinguish the ision ision ibility criteria for membership in particular schemes for public public for schemes in particular membership for criteria ibility settlement of the liability the of settlement ed to be paid when the liabilities are settled. are liabilities the when paid be ed to 1987, or the Gold State Gold the or 1987, . Employees commencing employment on or after 16 April 16April after onor employment commencing Employees . salary components such as employer superannuation superannuation employer as such components salary as employees can leave the scheme at their discretion at at discretion their at scheme the leave can employees as Commonwealth Commonwealth the with compliance in employees of elates to Public Service employees who have entered entered have who employees Service Public to elates provider the Pension Pension the in the fifth year of the the of year fifth in the leave months twelve itional ame non- ame ’s ’s College current liabilities because the College has an has College the because liabilities current becomes obliged to make future payments as a a as payments future make to obliged becomes . The The impacting theagency Significant issues Scheme Scheme tory tory contribu of a past event and when the outflow of of outflow the when and event past a of College nditional long service service long nditional co and conditional liability for superannuation charges in in charges superannuation for liability for at least 12 months after 12months least at for Superannuation Scheme (GSS), a (GSS), Scheme Superannuation ts’ and note 3 note and ts’ instrumen nancial or the GSS. The liabilities The GSS. the or or or GESB to contributions makes term employee benefits’. The The benefits’. employee term . 1992 t members of the West State State the West of members have been been have C mate can be can mate compliance Disclosures andlegal in accordance with with in accordance ontribut to the GESB. GESB. the to does not have have not does able short ions ions to members members to years of years of to choose choose to the end end the - made made es up up es to these these to hand hand for the the for 1 existing members of the WSS or GESBS and new employees employees new and GESBS or the of WSS members existing 2012, March 30 From (GESBS). Scheme Super GESB the of members became 2007 Scheme Superannuation Scheme Pension the either of members not were who 2007 April 16 to prior employment commencing Employees 1995. since members new to closed scheme sum lump benefit defined since members new to closed scheme pension benefit defined a Scheme, Pension the to contribute employees Eligible sector legislative requirements legislative Australia in Western arrangements superannuation sector public administer funds other and (GESB) Board Superannuation Employees Government The Superannuation expect amounts undiscounted the at measured is and employees for aside set salary of value the recognises provision self to an agreement into r leave purchased for provision The leave Purchased time any providers providers funds other fund superannuation preferred their obligations are funded by concurrent contributions made by the College the by made contributions by concurrent funded are obligations GSS other All Treasurer. the by assumed are Scheme, Pension the from transferred who attributable benefits transfer GSS unfunded andthe Scheme sion Pen unfunded a as reported is is Th year. fifth the in beused to employees for aside set salary of value the recognises provision The agreement. The the extinguishes GESB to College the by made contributions) (defined contributions concurrent the because purposes - whole and employees of the purposes for scheme benefit adefined is GSS The GSS. or Scheme Pension the of members not are who employees of respect ex schemes accumulation Ac (Administration) Guarantee Superannuation Government’s an agreement to self to an agreement pr The Leave Deferred service of years requisite the completed has employee the until liability the of settlement the defer to right unconditional non- as classified are provisions leave - Pre period. reporting the of end the after months 12 least at for liability the of settlement the defer to right unconditional an have not does Unc Overview oftheagency onditional long service leave provisions are classified as current liabilities as the College College the as liabilities current as classified are provisions leave service long onditional College ovision for deferred leave relates to Public Service employees who have entered into into entered have who employees Service Public to relates leave deferred for ovision of employees vary according to commencement and implementation dates. implementation and commencement to according vary employees . - rnment reporting. However, it is a defined contribution plan for College for plan contribution a defined is it However, reporting. government has no liabilities under under noliabilities has current prov current liability is measured on the same basis as annual leave. Deferred leave leave Deferred leave. annual as basis same the on measured is liability - or the GSS bec GSS the or fund anadd fund Agency performance on behalf . Elig - (WSS) fund up to an additional 10 weeks leave per calendar year. The The year. calendar per leave weeks 10 additional an to up fund ’s obligations to the related superannuation liability. superannuation related the to obligations ’s College tinguish the ision ision ibility criteria for membership in particular schemes for public public for schemes in particular membership for criteria ibility ed to be paid when the liabilities are settled. are liabilities the when paid be ed to 1987, or the Gold State Gold the or 1987, . Employees commencing employment on or after 16 April 16April after onor employment commencing Employees . as employees can leave the scheme at their discretion at at discretion their at scheme the leave can employees as Commonwealth Commonwealth the with compliance in employees of elates to Public Service employees who have entered entered have who employees Service Public to elates provider the Pension Pension the in the fifth year of the the of year fifth in the leave months twelve itional ame non- ame ’s ’s College current liabilities because the College has an has College the because liabilities current . The The impacting theagency Significant issues Scheme Scheme tory tory contribu College nditional long service service long nditional co and conditional liability for superannuation charges in in charges superannuation for liability Superannuation Scheme (GSS), a (GSS), Scheme Superannuation or the GSS. The liabilities The GSS. the or or or GESB to contributions makes . 1992 t members of the West State State the West of members have been been have C compliance Disclosures andlegal in accordance with with in accordance ontribut to the GESB. GESB. the to able ions ions to members members to to choose choose to to these these to

for the the for SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 53 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 54 ANNUAL REPORT 2017 (t) (s) (r) 3. Overview oftheagency the properties the under Income f Income under A Position. Financial of Statement the in recognised are assets of Receipts . received services for be reli can they where services or lessor The Commitments Lease Operating superannuation funds superannuation Ju recognised in the financial statements. The College The statements. financial the in recognised amounts on the effect significant a have that policies accounting of application the about judgements make to management requires statements financial of preparation The year. financial current the in presented the with be comparable to reclassified appropriate, where are, figures Comparative donated, not if purchase otherwise Assets or services Assets andservices ex superannuation The expenseSuperannuation e on- Employment occurred. has relate they which separately recognised are and benefits on- Employment on- Employment (ii) expense'. share. employer's the for surer Trea the from recouped and Scheme Pension the of respect in payments all benefit makes GESB The Superannuation Scheme (WSS), the GESB Super Scheme (GESBS) Scheme Super GESB the (WSS), Scheme Superannuation employer expenses' and note and expenses' related liability is included in 'Employment on- in 'Employment included is liability related Comparative figures re not included as part of of part as included not are and xpenses' ssets or services received from other State Government agenc Government State other from received services or ssets dgements made by management in apply in by made management dgements Provi College s retain sions - sions contributions paid to the GSS (concurrent contributions), the West State State the West contributions), (concurrent GSS the to paid contributions has entered into several into entered has . Accord tal to ownership of of ownership to tal inciden rewards and risks significant the all substantially rom State Government in the Statement of Comprehensive Income. Comprehensive of Statement the in State Government rom costs costs, including workers’ compensation insurance, are not employee employee not are insurance, compensation workers’ including costs, other 3 the the that cost nominal for or charge of free received Agency performance 2 . s lease the ingly, 'Provisions' pense in the Statement of Comprehensive Income Income Comprehensive of Statement the in pense received free of . measured ably .) are recognised as income a income as recognised are ha and expenses expenses and liabilities as s lease commercial ve the the charge orcharge for nominal cost s lease operating as classified been impacting theagency Significant issues College costs provision'. (See note 12 note (See provision'. costs A evaluates costs are included as part of 'Other 'Other of part as included are costs corresponding expense is recognised is expense corresponding 's 'Employee benefits expense’. The The expense’. benefits 'Employee 's See ing accounting policies accounting ing ) 'Superannuation 'Superannuation ) 2(q note also and has determined that the the that determined has and these judgements regularly. judgements these t ies fair value fair the when the employment to to employment the when are separately disclosed disclosed separately are compliance Disclosures andlegal College of the assets assets the of GSS, and is is and GSS, . and other and other comprises figures figures 'Other 'Other would 5. 4. (t) (s) (r) 3. Overview oftheagency Note 5. Disclosure of c Disclosure 5. Note K Voluntary Changes in Accounting Policy adopted, for annual reporting periods beginning on or after 1J after or on beginning periods reporting annual for adopted, The The applicationAccounting ofInitial an Australian Standard entitlements. of value annual the exceed not do costs annual College’s the as leave sick for made been has provision No revaluation. from life useful maximum have to buildings assesses College the upgrades, and additions ishments, refurb due to example, For used. rates depreciation on guidance give to provided are life useful of estimates time which during year every buildings and land its revalues College The are others all and debt) doubtful for allowance (no free risk considered are agencies government other from receivables General accordingly. adjusted is provision the and rates collection historical on based collectability for analysed receivable Student collectable. considered are due 60 days under receivables Student provision. leave long the service of amount carrying on the impact may assumptions and estimations these in Changes rates, discount rates, salary future expected include provision leave service long ’s College the in calculating used assumptions and estimations Several period. reporting next the within liabilities a causing of risk have that a significant factors other various and experience historical on based are future the concerning assumptions and estimates Key the properties the under Income f Income under A Position. Financial of Statement the in recognised are assets of Receipts . received services for be reli can they where services or lessor The Commitments Lease Operating funds superannuation Ju e on- Employment occurred. has relate they which separately recognised are and benefits on- Employment on- Employment (ii) expense'. The superannuation ex superannuation The expenseSuperannuation share. employer's the for surer Trea the from recouped and Scheme Pension the of respect in payments all benefit makes GESB The recognised in the financial statements. The College The statements. financial the in recognised amounts on the effect significant a have that policies accounting of application the about judgements make to management requires statements financial of preparation The year. financial current the in presented the with be comparable to reclassified appropriate, where are, figures Comparative donated, not if purchase otherwise Assets or services Assets andservices (GESBS) Scheme Super GESB the (WSS), Scheme Superannuation employer expenses' and note and expenses' related liability is included in 'Employment on- in 'Employment included is liability related (Note 34 Asset Revaluation Reserve). Reserve). Revaluation Asset 34 (Note 6 $60,02 totalling assets existing of increment arevaluation and Equipment) and Plant Property, 27 Note and Revenue 19 Other (Note $452,156 totalling assets unrecognised previously of recognition in resulted that 2017 31 December at adopted and performed w craft marine of valuation independent An model. revaluation the to cost from craft marine of measurement subsequent for policy accounting its changed College the 2017, In Comparative figures ey sources of estimation uncertain re not included as part of of part as included not are and xpenses' ssets or services received from other State Government agenc Government State other from received services or ssets dgements made by management in apply in by made management dgements Provi College College s retain sions - sions contributions paid to the GSS (concurrent contributions), the West State State the West contributions), (concurrent GSS the to paid contributions has applied the following Australian Accounting Standards effective, or effective, Standards Accounting Australian following the applied has has entered into several into entered has . Accord tal to ownership of of ownership to tal inciden rewards and risks significant the all substantially rom State Government in the Statement of Comprehensive Income. Comprehensive of Statement the in State Government rom costs AASB AASB costs, including workers’ compensation insurance, are not employee employee not are insurance, compensation workers’ including costs, other 3 the the that cost nominal for or charge of free received individually assessed, with an allowance to the full value if required. if value full the to allowance an with assessed, individually Agency performance 2 . s lease the ingly, - 2014 1057 'Provisions' pense in the Statement of Comprehensive Income Income Comprehensive of Statement the in pense received free of hanges in accounting policy and estimates policy and accounting in hanges 3 Amendments to Australian Accounting Standards Accounting Australian to Amendments Acquisitions of Interests in Joint Operations [AASB Operations Joint in Interests of Acquisitions impact. nofinancial is There same. the are they where grouped Interpretation), (and Standard other each for paragraphs application the lists Standard This Application of Australian Accounting Standards Accounting Australian of Application . measured ably .) are recognised as income a income as recognised are ha and expenses expenses and liabilities as ty s lease commercial employee retention rates and expected future payments. payments. future expected and rates retention employee ve material adjustment to the carrying amount of assets and assets of amount carrying the to adjustment material the the charge orcharge for nominal cost s lease operating as classified been impacting theagency Significant issues College costs provision'. (See note 12 note (See provision'. costs A evaluates costs are included as part of 'Other 'Other of part as included are costs corresponding expense is recognised is expense corresponding anuary 's 'Employee benefits expense’. The The expense’. benefits 'Employee 's See ing accounting policies accounting ing ) 'Superannuation 'Superannuation ) 2(q note also and has determined that the the that determined has and 7 201 these judgements regularly. judgements these t ies fair value fair the that impacted on the College. onthe impacted that when the employment to to employment the when are separately disclosed disclosed separately are compliance Disclosures andlegal s over 90 days are are days 90 over s College as as of the assets assets the of - GSS, and is is and GSS, 1 & Accounting for for Accounting . and other and other comprises 11] figures figures

'Other 'Other would SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 55 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 56 ANNUAL REPORT 2017 5. 4. Overview oftheagency Note 5. Disclosure of c Disclosure 5. Note K Voluntary Changes in Accounting Policy adopted, for annual reporting periods beginning on or after 1J after or on beginning periods reporting annual for adopted, a causing of risk have that a significant factors other various and experience historical on based are future the concerning assumptions and estimates Key The The applicationAccounting ofInitial an Australian Standard entitlements. of value annual the exceed not do costs annual College’s the as leave sick for made been has provision No revaluation. from life useful maximum have to buildings assesses College the upgrades, and additions ishments, refurb dueto example, For used. rates depreciation on guidance give to provided are life useful of estimates time which during year every buildings and land its revalues College The are others all and debt) doubtful for allowance (no free risk considered are agencies government other from receivables General accordingly. adjusted is provision the and rates collection historical on based collectability for analysed receivable Student collectable. considered are due 60 days under receivables Student provision. leave long the service of amount carrying on the impact may assumptions and estimations these in Changes rates, discount rates, salary future expected include provision leave service long ’s College the in calculating used assumptions and estimations Several period. reporting next the within liabilities (Note 34 Asset Revaluation Reserve). Reserve). Revaluation Asset 34 (Note 6 $60,02 totalling assets existing of increment arevaluation and Equipment) and Plant Property, 27 Note and Revenue 19 Other (Note $452,156 totalling assets unrecognised previously of recognition in resulted that 2017 31 December at adopted and performed w craft marine of valuation independent An model. revaluation the to cost from craft marine of measurement subsequent for policy accounting its changed College the 2017, In ey sources of estimation uncertain College has applied the following Australian Accounting Standards effective, or effective, Standards Accounting Australian following the applied has AASB AASB individually assessed, with an allowance to the full value if required. if value full the to allowance an with assessed, individually Agency performance - 2014 1057 hanges in accounting policy and estimates policy and accounting in hanges 3 Amendments to Australian Accounting Standards Accounting Australian to Amendments Acquisitions of Interests in Joint Operations [AASB Operations Joint in Interests of Acquisitions impact. nofinancial is There same. the are they where grouped Interpretation), (and Standard other each for paragraphs application the lists Standard This Application of Australian Accounting Standards Accounting Australian of Application ty employee retention rates and expected future payments. payments. future expected and rates retention employee material adjustment to the carrying amount of assets and assets of amount carrying the to adjustment material impacting theagency Significant issues anuary 7 201 that impacted on the College. onthe impacted that compliance Disclosures andlegal s over 90 days are are days 90 over s as as - 1 & Accounting for for Accounting 11] Overview oftheagency AASB AASB AASB AASB AASB AASB Agency performance - 2015 - 2015 - 2015 - 2015 - 2014 - 2014 10 6 2 1 9 4 Standard. the of application on impact financial no is there Therefore, O Joint in interests acquire routinely not does and The of Amendments to AASB to Amendments of Date Effective Standards Accounting Australian to Amendments for application assist to included is guidance not by application AASB of scope the extend amendments The [AASB Not to Disclosures Party Related Standards Accounting Australian to Amendments impact. no financial is There statements. financial in their disclose to information what determining in a Standard applying when an requirements disclosure and presentation existing about expressed concerns the narrow proposes Standard AASB in requirements disclosure the AASB to Amendments Initiative: Standards Accounting Australian to Amendments impact. financial no has Standard College The corrections. IFRSs to Improvements Annual Standard Reporting Financial International of issuance the from arise amendments These Cycle [AASB Australian to Improvements Standards Accounting Australian to Amendments impact. financial no has Standard the of application the associates, and ventures joint no has a and ventures joint subsidiaries, in investments for accounting of AASB AASB amends Standard This [AASB Statements Financial Separate in Standards Accounting Australian to Amendments benefits. economic future of consumption to reference by but generation, revenue to reference College Sta this of adoption The & [AASB Amortisation and Depreciation of Methods Acceptable rd amends AASB amends Standard This Amendments to Australian Accounting Standards Accounting Australian to Amendments ssociates in their separate financial statements. As the the As statements. financial separate in their ssociates 138] - profit public sector entities. There is no financial impact. nofinancial is There entities. sector public profit College 1 and AASB 1 and - 2012 10, 124 & 124 10, as depreciation and amortisation is not determined by by determined not is amortisation and depreciation as 2014 Cycle in September in Cycle 2014 establishes Joint Operations in pursuit of its objectives objectives its of in pursuit Operations Joint establishes impacting theagency Significant issues 1, 2, 3, 5, 7, 11, 110, 119, 121, 133, 134, 137 & 137 134, 133, 121, 119, 110, 11, 7, 5, 3, 2, 1, d to ensure entities are able to use judgement judgement use to able are entities ensure to d 1049] - for 128, to allow entities to use the equity method method equity the use to entities allow to 128, - profit public sector entities. Implementation Implementation entities. sector public profit has determined that the application of the the of application the that determined has 10 & 10 ndard has no financial impact for the the for impact financial no has ndard - focus amendments to address some of of some address to amendments focus 101 to provide clarification regarding regarding clarification provide 101 to 128 Accounting Standards 2012- Standards Accounting 127, and consequentially amends amends consequentially and 127, 101 [AASB 101 - for - Profit Public Sector Entities Entities Sector Public Profit compliance Disclosures andlegal 1, 101. Specifically, the the Specifically, 101. of the Standard by not by Standard the of 127 & 127 2014, and ed and 2014, 7, 101, 134 & 134 101, 7, 128] - - 124 to include include to 124 Equity Method Method Equity Clarification of of Clarification - - Disclosure Extending Extending perations. perations. - 1049] College Annual Annual itorial itorial 140] 2014 2014 116 116

- SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 57 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 58 ANNUAL REPORT 2017 Overview oftheagency to apply the following Australian Accounting Standards from their application date. application their from Standards Accounting Australian following the apply to Pronouncements TI by permitted 2017 AASB The The AASB 2016 - 2016 AASB 2016 AASB AASB AASB AASB AASB AASB AASB FutureAustralian impactAccounting of Standards not yet operative College Agency performance - 2015 - 2015 - 2015 - 2015 - 2014 - 2014 - - 2 2 10 6 2 1 9 4 cannot early adopt an Australian Accounting Standard unless specifically specifically unless Standard Accounting Australian an adopt early cannot 7 1101 1101 or by an exemption from TI from exemption by an or with AASB 5. There is no financial no is There 5. AASB with their as classified are that an to apply requirements disclosure by 12 AASB of scope the clarifies Standard This - 2014 Improvements Amendments to Australian Accounting Australian to Amendments the disclosure requirements in AASB in requirements disclosure the AASB amends Standard This AASB to Amendments Initiative: impact. financial no has Standard College The corrections. IFRSs to Improvements Annual Standard Reporting Financial International of issuance the from arise amendments These Cycle [AASB Australian to Improvements impact. financial no has Standard the of application the associates, and ventures joint no has a and ventures joint subsidiaries, in investments for accounting of AASB AASB amends Standard This [AASB Statements Financial Separate in benefits. economic future of consumption to reference by but generation, revenue to reference College Sta this of adoption The & [AASB Amortisation and Depreciation of Methods Acceptable Standard. the of application on impact financial no is there Therefore, O Joint in interests acquire routinely not does and The There is no financial impact. no financial is There 1 after or on beginning periods reporting annual to entities AASB from arising Standards Accounting AASB in out set originally were AASB of date) (application date effective mandatory the amends Standard This AASB Standards Accounting Australian to Amendments impact. financial no is There changes. cash - non and flows cash from arising changes both including activities, financing from arising in liabilities changes evaluate to statements AASB to Amendments Initiative: Standards Accounting Australian to Amendments impact. 1 after or on beginning periods reporting annual for applied in AASB made AASB to amendments of date) defers Standard This AASB to Amendments of Date Effective Standards Accounting Australian to Amendments for application assist to included is guidance not by application AASB of scope the extend amendments The [AASB Not to Disclosures Party Related Standards Accounting Australian to Amendments impact. nofinancial is There statements. financial in their disclose to information what determining in a Standard applying when an requirements disclosure and presentation existing about expressed concerns the narrow proposes Standard Standards Accounting Australian to Amendments Standards Accounting Australian to Amendments Standards Accounting Australian to Amendments (August AASB amends Standard This Amendments to Australian Accounting Standards Accounting Australian to Amendments ssociates in their separate financial statements. As the the As statements. financial separate in their ssociates January January 138] - profit public sector entities. There is no financial impact. nofinancial is There entities. sector public profit Applicatio College capacity as owners or discontinued or owners as capacity 1 and AASB 1 and 15 for - 2012 10, 124 & 124 10, 2015) to require disclosures that enable users of finan of users enable that disclosures require to 2015) as depreciation and amortisation is not determined by by determined not is amortisation and depreciation as 2019, instead of 1 of instead 2019, 1 of instead 2018 2014 Cycle in September in Cycle 2014 establishes Joint Operations in pursuit of its objectives objectives its of in pursuit Operations Joint establishes Not impacting theagency Significant issues 1, 2, 3, 5, 7, 11, 110, 119, 121, 133, 134, 137 & 137 134, 133, 121, 119, 110, 11, 7, 5, 3, 2, 1, n of Australian Accounting Standards and Other Other and Standards Accounting Australian of n - 2014 15 and defers the consequential amendments that that amendments consequential the defers and 15 - d to ensure entities are able to use judgement judgement use to able are entities ensure to d for 1049] - for 128, to allow entities to use the equity method method equity the use to entities allow to 128, - 2016 Profit Entities Profit 10 so that the amendments are required to be to required are amendments the that 10 so held for sale, held for distribution to owners in in owners to distribution for held sale, for held - profit public sector entities. Implementation Implementation entities. sector public profit the mandatory effective date (application (application date effective mandatory the 1101. 1101. has determined that the application of the the of application the that determined has 10 & 10 Cycl ndard has no financial impact for the the for impact financial no has ndard - focus amendments to address some of of some address to amendments focus January January 101 to provide clarification regarding regarding clarification provide 101 to e Where applicable, the College plans plans College the applicable, Where 128 Accounting Standards 2012- Standards Accounting 10 & AASB 10 127, and consequentially amends amends consequentially and 127, - 2014 101 [AASB 101 107 107 107 - impact. for entity’s interests in other entities entities other in interests entity’s - 2018 5 Amendments to Australian Australian to Amendments 5 Profit Public Sector Entities Entities Sector Public Profit Statement of Cash Cash of Flows Statement 2016. There is no financial nofinancial is There 2016. Standards Standards compliance Disclosures andlegal 1, operations in operations 101. Specifically, the the Specifically, 101. of the Standard by not by Standard the of . 128 that were originally were originally 128 that 127 & 127 2014, and ed and 2014, 7, 101, 134 & 134 101, 7, 15 specifying that the the that specifying for not for 128] - - - 124 to include include to 124 Equity Method Method Equity Clarification of of Clarification Further Annual Annual Further – - - Deferral of of Deferral - accordance accordance Disclosure Disclosure Extending Extending perations. perations. - for - 1049] College Annual Annual - itorial itorial 140] profit profit 2014 116 116 cial cial - Overview oftheagency to apply the following Australian Accounting Standards from their application date. application their from Standards Accounting Australian following the apply to Pronouncements TI by permitted The 2017 AASB AASB 2016 - 2016 AASB 2016 AASB FutureAustralian impactAccounting of Standards not yet operative College Agency performance - - 2 2 cannot early adopt an Australian Accounting Standard unless specifically specifically unless Standard Accounting Australian an adopt early cannot 7 1101 1101 or by an exemption from TI from exemption by an or with AASB 5. There is no financial no is There 5. AASB with their as classified are that an to apply requirements disclosure by 12 AASB of scope the clarifies Standard This - 2014 Improvements Amendments to Australian Accounting Australian to Amendments date) of AASB of date) (application date effective mandatory the amends Standard This AASB Standards Accounting Australian to Amendments impact. financial no is There changes. cash - non and flows cash from arising changes both including activities, financing from arising in liabilities changes evaluate to statements (August AASB amends Standard This AASB to Amendments Initiative: Standards Accounting Australian to Amendments impact. 1 after or on beginning periods reporting annual for applied in AASB made AASB to amendments of date) defers Standard This There is no financial impact. nofinancial is There 1 after or on beginning periods reporting annual to entities AASB from arising Standards Accounting AASB in out set originally were January January Applicatio capacity as owners or discontinued or owners as capacity 15 for 2015) to require disclosures that enable users of finan of users enable that disclosures require to 2015) 2018 instead of 1 of instead 2018 2019, instead of 1 of instead 2019, Not impacting theagency Significant issues n of Australian Accounting Standards and Other Other and Standards Accounting Australian of n - 2014 15 and defers the consequential amendments that that amendments consequential the defers and 15 - for - 2016 Profit Entities Profit 10 so that the amendments are required to be to required are amendments the that 10 so held for sale, held for distribution to owners in in owners to distribution for held sale, for held the mandatory effective date (application (application date effective mandatory the 1101. 1101. Cycl January January e Where applicable, the College plans plans College the applicable, Where 10 & AASB 10 - 2014 107 107 107 impact. entity’s interests in other entities entities other in interests entity’s 2018 5 Amendments to Australian Australian to Amendments 5 Statement of Cash Cash of Flows Statement 2016. There is no financial nofinancial is There 2016. Standards Standards compliance Disclosures andlegal operations in operations . 128 that were originally were originally 128 that 15 specifying that the the that specifying for not for - Further Annual Annual Further – - Deferral of of Deferral accordance accordance Disclosure - for - profit profit

cial cial SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 59 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 60 ANNUAL REPORT 2017 AASB 16 AASB 15 AASB AASB 9 9 AASB Overview oftheagency 9, and AASB and 9, Leases Cont from Revenue expense will decrease. will expense rental and increase will expense amortisation short positi financial of statement the onto brought of impact the Whilst value. low of is asset underlying 12 than more of term a with leases all for liabilities and assets recognise to alessee requires and model accounting lessee asingle introduces Standard This obligations. performance its discharged College the until recognition revenue defer will revenues these to attached conditions and terms the that anticipated it is terms, broad In revenues. ‘Sales’ and fees’ and charges impact potential the However, the College change. this by unaffected be will and Entities Not of Income 1058 AASB under measured be will which appropriations from The with acontract from arising flows cash and revenue of uncertainty and timing amount, nature, the about statements financial of users to information the that principles the establishes Standard This Standard. the of impact potential the or application the yet determined not has Standards Accounting Australian AASB by amended being 1 currently is Standard this of date application mandatory The treatments. accounting to changes Measurement and Recognition Instruments: Financial This Standard supersedes AASB supersedes Standard This Instruments Financial College non- of worth The . $6,563,363 for commitments lease operating has currently entity the quantified, Agency performance - College College on, excepting amounts pertinent to to pertinent amounts excepting on, term or low or term cancellable operating leases which the the which leases operating cancellable anticipates most of this amount will be will be amount this of most anticipates 's income is principally derived derived principally is income 's , introducing a number of of a number introducing , shall apply to report useful useful report to apply shall - - 2014 value leases. Interest and and Interest leases. value racts with Customers with racts AASB a customer. a customer. of the Standard on ‘User ‘User on Standard the of has not yet determined yet not has determined impacting theagency Significant issues 1 - 2012 January 16 has not yet been yet been not 16 has months, unless the the unless months, Amendments to to Amendments 6, AASB . The College The . 2018 after after 2018 - for - - 2013 Profit Profit 139 139 has has compliance Disclosures andlegal 1 1 2018 1 Jan on/after beginning periods reporting for Operative Jan Jan 2019 2019 AASB 16 AASB 15 AASB AASB 9 9 AASB Overview oftheagency 9, and AASB and 9, Leases Cont from Revenue expense will decrease. will expense rental and increase will expense amortisation short positi financial of statement the onto brought of impact the Whilst value. low of is asset underlying 12 than more of term a with leases all for liabilities and assets recognise to alessee requires and model accounting lessee asingle introduces Standard This obligations. performance its discharged College the until recognition revenue defer will revenues these to attached conditions and terms the that anticipated it is terms, broad In revenues. ‘Sales’ and fees’ and charges impact potential the However, the College change. this by unaffected be will and Entities Not of Income 1058 AASB under measured be will which appropriations from The with acontract from arising flows cash and revenue of uncertainty and timing amount, nature, the about statements financial of users to information the that principles the establishes Standard This Standard. the of impact potential the or application the yet determined not has Standards Accounting Australian AASB by amended being 1 currently is Standard this of date application mandatory The treatments. accounting to changes Measurement and Recognition Instruments: Financial This Standard supersedes AASB supersedes Standard This Instruments Financial College non- of worth The . $6,563,363 for commitments lease operating has currently entity the quantified, Agency performance - College College on, excepting amounts pertinent to to pertinent amounts excepting on, term or low or term cancellable operating leases which the the which leases operating cancellable anticipates most of this amount will be will be amount this of most anticipates 's income is principally derived derived principally is income 's , introducing a number of of a number introducing , shall apply to report useful useful report to apply shall - - 2014 value leases. Interest and and Interest leases. value racts with Customers with racts AASB a customer. a customer. of the Standard on ‘User ‘User on Standard the of has not yet determined yet not has determined impacting theagency Significant issues 1 - 2012 January 16 has not yet been yet been not 16 has months, unless the the unless months, Amendments to to Amendments 6, AASB . The College The . 2018 after after 2018 - for - - 2013 Profit Profit 139 139 has has compliance Disclosures andlegal 1 1 2018 1 Jan on/after beginning periods reporting for Operative Jan Jan

2019 2019 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 61 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 62 ANNUAL REPORT 2017 2014- AASB 2014- AASB 2014- AASB 2010- AASB AASB 1058 AASB Overview oftheagency 7 5 1 7 Amendments to Australi to Amendments Amendments Amen not r income the simplifies and clarifies Standard This (December AASB from arising Standards Accounting Australian to Amendments Standard. the of impact potential application the yet determined not has AASB of issuance the from arising Interpretations) (including Standards Accounting Australian to amendments consequential the to effect gives Standard AASB from arising Standards Standard. the of impact potential or application College the by assessed been yet not has It Standards. other to amendments AASB to amendments Standards Standard. the of impact potential the or yet determ not has College - 2014 and AASB - 2012 AASB by amended been has Standard this of date application mandatory The 2010. December in 9 AASB issuing of result a as Interpretations and Standards amendment consequential makes Standard This 127] & 19 12, 10, 5, 2, Int and 1038 & 1023 139, 137, 136, 132, 131, 128, 127, 121, 120, 118, 112, 108, 102, 101, 7, 5, 4, 3, 1, [AASB 2010) AASB 9 (December from arising Standards Standard. the of impact potential the or application The an asset. acquire to obligation an or, service), agood or transfer to promise (a obligation give atransaction such whether on dependent is recognition income of Timing customers. with contracts not are that transactions entity NFP reality of economic the reflecting Income of Not of Income - Agency performance for s rise to a liability, or a performance aperformance or a liability, to rise s College dments to Australian Accounting Accounting Australian to dments - profit ecognition requirements that apply to to apply that requirements ecognition 2014) s to other Australian Accounting Accounting Australian other to s Part (NFP) entities, more closely closely more entities, (NFP) - for has not yet determined the the yet determined not has to Australian Accounting Accounting Australian to E of this Standard makes makes Standard this of E - . 1 to 1 January 2018. The The 2018. 1 January 1 to Profit Entities Profit impacting theagency Significant issues 9 and consequential and consequential 9 ined the application application ined the an Accounting an Accounting 15. The College The 15. to determine the the determine to 15 or the the or This This compliance Disclosures andlegal 9 6 1 Jan 2018 1 Jan 2018 1 Jan 2018 1 Jan 2018 1 Jan 2019 1 Jan 2010- AASB 2014- AASB 2014- AASB 2014- AASB AASB 1058 AASB Overview oftheagency 7 7 5 1 Amendments to Australi to Amendments Amendments - 2014 and AASB - 2012 AASB by amended been has Standard this of date application mandatory The 2010. December in 9 AASB issuing of result a as Interpretations and Standards amendment consequential makes Standard This 127] & 19 12, 10, 5, 2, Int and 1038 & 1023 139, 137, 136, 132, 131, 128, 127, 121, 120, 118, 112, 108, 102, 101, 7, 5, 4, 3, 1, [AASB 2010) AASB 9(December from arising Standards Amen Standard. the of impact potential the or application The an asset. acquire to obligation an or, service), agoodor transfer to promise (a obligation give atransaction such whether on dependent is recognition income of Timing customers. with contracts not are that transactions entity NFP reality of economic the reflecting not r income the simplifies and clarifies Standard This (December AASB from arising Standards Accounting Australian to Amendments Standard. the of impact potential application the yet determined not has AASB of issuance the from arising Interpretations) (including Standards Accounting Australian to amendments consequential the to effect gives Standard AASB from arising Standards Standard. the of impact potential or application College the by assessed been yet not has It Standards. other to amendments AASB to amendments Standards Standard. the of impact potential the or yet determ not has College Income of Not of Income - Agency performance for s rise to a liability, or a performance aperformance or a liability, to rise s College dments to Australian Accounting Accounting Australian to dments - profit ecognition requirements that apply to to apply that requirements ecognition 2014) s to other Australian Accounting Accounting Australian other to s Part (NFP) entities, more closely closely more entities, (NFP) - for has not yet determined the the yet determined not has to Australian Accounting Accounting Australian to E of this Standard makes makes Standard this of E - . 1 to 1 January 2018. The The 2018. 1 January 1 to Profit Entities Profit impacting theagency Significant issues 9 and consequential and consequential 9 ined the application application ined the an Accounting an Accounting 15. The College The 15. to determine the the determine to 15 or the the or This This compliance Disclosures andlegal 6 9

1 Jan 2019 1 Jan 1 Jan 2018 1 Jan 2018 1 Jan 2018 1 Jan 2018 1 Jan SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 63 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 64 ANNUAL REPORT 2017 2015- AASB 2016- AASB 2016- AASB 2014- AASB Overview oftheagency 8 8 3 10 Venture [AASB 10 & 128] & 10 [AASB Venture Joint or Associate its and an Investor between Standards (including Int (including Standards Accounting Australian to amendments consequential the to effect gives Standard This Guidance for Not for Guidance Standards Accounting Australian to Amendments impact. potential the or College AASB to provisions transitional further provides and, licence, a granting from revenue recognising of timing considerations, agent versus principal obligations, performance identifying clarifies Standard This – Standards Accounting Australian to Amendments AASB of impact potential the or application yet deter not has Authority The 1 to amended been subsequently has date effective Not For 1 after on or beginning periods reporting AASB Customers with Contracts from AASB of date) (application date effective mandatory the amends Standard This – Standards Accounting Australian to Amendments im financial no College 1 to beendeferred has Standard the for date) (application date effective mandatory The venture. joint or associate its and investor an between assets of ution contrib or sale the with AASB in those AASB in requirements the between AASB AASB amends Standard This Standards Accounting Australian to Amendments Standard. the of impact potential the or application the determined (December AASB of issuance the from January January Agency performance 128 to address an inconsistency an inconsistency address to 128 applied for annual annual for applied be to required is 15 has not yet determined the appl the yet determined not has has determined that the Standard has has Standard the that determined has - For 2018 instead of 1 of instead 2018 2018 - – 2014). The The 2014). Australian Implementation Implementation Australian Clarifications to AASB to Clarifications AASB of Date Effective - Profit entities, the mandatory mandatory the entities, Profit Sale or Contribution of Assets of Contribution or Sale pact. January 128 (August 128 - by AASB for - Profit Entities Profit 2019 byAASB impacting theagency Significant issues College erpretations) arising arising erpretations) 2011), in dealing in dealing 2011), - 2015 January 15 15 has not yet not has 10. The The 10. mined the the mined 15 15 15. The The 15. 10 and Revenue Revenue so that that so - 2016 10 and ication ication 2017. 2017. 15. compliance Disclosures andlegal 7. 7. 9 1 Jan 20 1 Jan 1 Jan 2019 1 Jan 2018 1 Jan 1 Jan 2019 1 Jan 18 2015- AASB 2014- AASB 2016- AASB 2016- AASB Overview oftheagency 8 10 8 3 Venture [AASB 10 & 128] & 10 [AASB Venture Joint or Associate its and an Investor between from Contracts with Customers Customers with Contracts from AASB of date) (application date effective mandatory the amends Standard This Standards – Standards Accounting Australian to Amendments im financial no College 1 to beendeferred has Standard the for date) (application date effective mandatory The venture. joint or associate its and investor an between assets of ution contrib or sale the with AASB in those AASB in requirements the between AASB AASB amends Standard This Standards Accounting Australian to Amendments Standard. the of impact potential the or application the determined (December AASB of issuance the from Int (including Standards Accounting Australian to amendments consequential the to effect gives Standard This Guidance for Not for Guidance Standards Accounting Australian to Amendments impact. potential the or College AASB to provisions transitional further provides and, licence, a granting from revenue recognising of timing considerations, agent versus principal obligations, performance identifying clarifies Standard This – Standards Accounting Australian to Amendments AASB of impact potential the or application yet deter not has Authority The 1 to amended been subsequently has date effective Not For 1 after on or beginning periods reporting AASB January January Agency performance 128 to address an inconsistency an inconsistency address to 128 applied for annual annual for applied be to required is 15 has not yet determined the appl the yet determined not has has determined that the Standard has has Standard the that determined has - For 2018 2018 instead of 1 of instead 2018 - – 2014). The The 2014). Australian Implementation Implementation Australian Effective Date of AASB of Date Effective Clarifications to AASB to Clarifications - Profit entities, the mandatory mandatory the entities, Profit Sale or Contribution of Assets of Contribution or Sale pact. January 128 (August 128 - by AASB for - Profit Entities Profit 2019 byAASB impacting theagency Significant issues College erpretations) arising arising erpretations) 2011), in dealing in dealing 2011), - 2015 January 15 15 has not yet not has 10. The The 10. mined the the mined 15 15 15. The The 15. 10 and Revenue Revenue so that that so - 2016 10 and ication ication 2017. 2017. 15. compliance Disclosures andlegal 7. 7. 9 1 Jan 20 1 Jan 1 Jan 2019 1 Jan 2018 1 Jan 1 Jan 2019 1 Jan

18 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 65 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 66 ANNUAL REPORT 2017 There have been no changes in accounting estimates. accounting in no changes been have There ChangesAccounting in Estimates Overview oftheagency Agency performance not guidance implementation and authoritative requirements Australian inserts Standard This There is no financial impact. nofinancial is There events. other and transactions particular to Standards those applying in entities AASB - for - 15. This guidance assists not assists guidance This 15. profit entities into AASB into entities profit impacting theagency Significant issues compliance Disclosures andlegal - for 9 and 9 and - profit profit for for FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 7 6 Employment on-costs liability is included at note 32 'Provisions'. 32 note at included is liability on-costs Employment expenses'. 'Other 12 note at included are insurance, workers' as compensation such expenses, on-costs Employment funds. eligible other and GESB and State Gold and State, West include plans contribution Defined (b) component. contribution superannuation including entitlements leave component, tax benefits fringe the plus employee the to benefit fringe the of value the Includes (a) (b) plans contribution defined - Superannuation (a) salaries and Wages Compensation of Key Management Personnel Key Management of Compensation Employee benefits expense Termination benefits Termination Other long term benefits term long Other 10,000 - 0 Total compensation of Members of the College the of Members of compensation Total benefits employment Post benefits employee term Short 200,000 - 190,001 220,000 - 210,001 Band($) Compensation College the of Members of Compensation within following presented are the period bands: reporting the College for the of officers, senior and members comprising personnel, management key for compensation Total Finances. State on Report Annual the in found be may compensation Ministers’ to relation in disclosures therefore and Ministers compensate to obligated not However, College is College. the the of officers senior and, members, Ministers, include personnel management key that determined The College has Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 107,260,631 117,476,683 2017 10,216,052 $ $ 298,472 250,923 26,445 21,104 - - 5 6 1 31 December31 11 April to to April 11 108,465,288 99,373,189 2016 2016 9,092,099 220,270 178,292 $ $ 26,445 15,533 - -

1 5 6 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 67 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 68 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 8 (a) Prior year comparatives have been restated to recognise a group or network of assets totalling $640,239 that were 2016 in that $640,239 purchased totalling network or a group assets of recognise to restated been have year comparatives Prior (a) expenses Communication (a) equipment minor and Consumables Supplies and services Consultancies and contracted services contracted and Consultancies Utilities expenses Utilities Repairs and maintenance and Repairs Minor worksMinor Travel and passenger transport passenger and Travel Operating lease and hire charges hire and lease Operating Advertising and public relations public and Advertising Supplies and Services - Professional Development (PD) staff activities activities (PD) staff Development Professional - Services and Supplies Supplies and services - other - services and Supplies 10,001 - 20,000 - 10,001 30,000 - 20,001 40,001 - 50,000 - 40,001 70,001 - 80,000 - 70,001 90,000 - 80,001 Termination benefits Termination benefits term long Other Post employment benefits employment Post 110,001 - 120,000 - 110,001 but erroneously expensed. erroneously but Fund. Pension the were of Personnel No members Key Management College the of Officers Senior of compensation Total benefits employee term Short 130,000 - 120,001 140,000 - 130,001 150,000 - 140,001 160,000 - 150,001 170,000 - 160,001 180,000 - 170,001 190,000 - 180,001 200,000 - 190,001 210,000 - 200,001 Band($) Compensation College the of Officers Senior of Compensation Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 33,046,010 16,423,650 2,173,490 1,775,663 5,934,579 3,263,483 1,111,728 2,068,357 2,151,284 $ $ 229,139 168,688 569,769 899,336 212,270 281,883 129,671 ------14 1 1 1 2 1 1 1 3 1 2 31 December31 11 April to to April 11 26,716,513 12,902,288 1,299,683 2016 2016 1,642,024 5,094,226 2,613,972 1,190,792 1,573,538 1,418,851 213,310 129,031 572,417 672,325 142,289 387,370 148,445 $ $ ------14 1 1 1 1 2 2 3 3 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 12 11 10 9 Other Other Other write-offs and Losses prizes awards and Student on-costs Employment expense debts Doubtful Library Collection network (a) communication and Computers equipment general and furniture Plant, buildings - improvements Leasehold Building maintenance Building equipment') and plant 'Property, 27 (note decrement revaluation Asset Building Land assistance) off-the-job other and accommodation (travel, trainees and Apprentices A Function Recurrent expense. Depreciation in $81,521 of increase an in resulted also This expensed. erroneously but were 2016 in that $640,239 purchased totalling network or agroup assets of recognise to restated been have year comparatives Prior (a) amortisation and depreciation Total amortisation Total Software Amortisation depreciation Total Buildings Depreciation Depreciation andDepreciation expense amortisation Other expensesOther decrement Asset revaluation subsidies and Grants Write-down of obselete bookshop stock bookshop obselete of Write-down Marine craft Marine trailers and caravans vehicles, Motor Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 11,284,351 11,622,508 8,172,507 1,372,067 2,805,183 4,872,508 6,750,000 7,922,260 7,750,917 4,641,271 $ $ $ $ (138,427) 453,105 439,963 787,651 860,747 453,105 171,343 171,343 18,095 71,086 2,902 2,223 - - - 31 December31 11 April to to April 11 10,430,536 3,288,886 2016 2016 7,292,415 1,557,658 2,022,584 3,288,886 4,313,339 6,974,122 6,843,006 953,852 322,568 655,861 224,216 322,568 131,116 131,116 $ $ $ $ 22,999 91,055 13,100 78,832 45,180 2,451

- - - SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 69 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 70 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 14 13 15 Fee for service - other - service Fee for fees division International Fee for service - Department of Training and Workforce Development TrainingWorkforce and of Department - service Fee for Tuition fees Tuition general - service Fee for disclosure. for entities controlled) jointly (or controlled their or members family close their or officers with Ministers/senior transaction party related The College material no had 6) (Note $9.2m GESB to payments • superannuation parties other related with transactions Material 8) (Note $0.6m Corporation Water to payment • utilities 42). (Note $0.2m General Auditor by the provided services for • remuneration 12); (Note $2.3m fund Riskcover and Commission Insurance the to payments • insurance 8) (Note $1.6m Development Workforce Training and of Department to services contracted and consultancies for • payment 36); (Note $1.7m Landcorp and $0.6m Finance of Department to payments lease future for • commitments 8); (Note $0.4m Landcorp, and $1.2m, Authority, Port Fremantle $0.3m, Finance of Department to leasing fleet and accommodation for payments rentals • lease 21); (Note $6.9m Development Training Workforce and of Department from charge of free received • services 34) (Note $71.6m campuses Midland and Balga to TAFE relating Metropolitan North to liabilities and assets of • transfer 34); (Note $52.3m appropriations • capital 21); (Note $100.4m appropriations • service include: transactions Significant government entities with transactions related Significant (GESB). Board Superannuation Employees Government • the and statements; financial consolidated whole the in included are government of that ventures, joint and • associates statements; financial consolidated whole the in included government of bodies related including entities, sector public and departments • other entities; controlled jointly or controlled their and members, family close their and officers senior • all entities; controlled jointly or controlled their and members, family close their and Ministers • all College include: the of parties Related State. the to related entities and State the to payers levy and tax all apply to that conditions and terms standard the on based levies and taxes pay various to required College is the activities, its conducting In Australia. Western wholly a The of College is State the owned of entity controlled and Fee service for Related Party Transactions Student and fees charges Other college fees college Other fees education community Adult Resource fees Resource Development) Training Workforce and of Department than (other Government - service Fee for Student Fees - Recognition of Prior Learning (RPL) fees Learning Prior of Recognition - Fees Student Student Fees - Incidental fees & overcharges & fees Incidental - Fees Student Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 24,144,340 27,848,058 10,253,506 17,272,936 1,585,793 8,494,963 5,982,241 7,513,098 $ $ 246,555 591,954 50,654 698 - 31 December31 11 April to to April 11 24,396,265 25,782,171 17,783,786 2016 2016 1,547,752 8,747,445 8,816,229 5,546,781 6,643,598 372,300 642,695 $ $ 17,402 50,703 9,745 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 19 18 17 16 Rental and facilities fees facilities and Rental revenue Interest 'Inventories'. 23 note and 'Inventories' 2(m) note See trading Other - profit/(loss) Trading trading Other (b) Cafeteria - profit/(loss) Trading consulting and Contracting activity) works atrading (not Live Other revenue Other revenue Interest related) (non-training Cafeteria (a) profit/(loss) Trading Ancillary trading Recoups from external organisations external from Recoups Centre Services Community and Health Peel at equipment for expenditure of Recoup revenue donations and Sponsorship revenue ancillary Other Recognition of assets of Recognition Riskcover performance adjustment and insurance recoveries insurance and adjustment performance Riskcover library materials Ex-Challenger Institute of up Take Miscellaneous revenue revenue Miscellaneous Cost of goods sold goods of Cost Closing inventory Closing Purchases Opening inventory Opening Cost of sales: Sales Sales Purchases Cost of sales: Cost of goods sold goods of Cost Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 4,156,885 1,058,971 1,727,613 1,058,971 1,604,907 1,192,963 1,109,890 $ $ $ $ (228,209) 123,345 472,342 139,460 367,669 317,649 611,885 118,698 228,209 452,156 (16,115) 16,115 16,115 10,188 5,927 4,009 - - - - 31 December31 11 April to to April 11 2016 2016 1,118,300 3,360,431 1,202,366 (183,035) 896,094 896,094 264,830 266,520 274,056 416,420 183,035 740,738 309,423 646,081 653,614 $ $ $ $ 10,188 19,596 12,475 81,613 91,021 62,805 77,422 (9,408) 9,408 7,121 6,645

- SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 71 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 72 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 20 21 at South Metropolitan TAFE campuses. Metropolitan South at projects equipment and facilities on Development Training Workforce and of Department by the expenditure (b)Represents delivered. services of cost net the fund appropriations Service (a) Total income fromState Government : period financial the during agencies government State other from charge of free received Services (a) appropriation Service year: the during received Appropriation Equipment’. and Plant ‘Property, 27 note and Equipment’, & Plant 'Property, 2(f) note See gain/(loss) Net disposed assets non-current of Carrying amount assets non-current of disposal from proceeds Total equipment general and furniture Plant, trailers and caravans vehicles, Motor assets non-current of disposal from proceeds Net Plant, furniture and general equipment general and furniture Plant, Income fromStateGovernment Net gain/(loss) on disposal of non-current assets non-current of ondisposal gain/(loss) Net Total cost of disposal of non-current assets non-current of disposal of cost Total network communication and Computers - Other - - Training infrastructure management (b) management Training- infrastructure support relations industrial and resources, Human - funds State Total Other recurrent funds recurrent Other - Corporate systems support systems Corporate - Development Training Workforce and of Department recoup severance Project Reform Training Sector (DPA) Agreement Performance and Delivery (State funds received from Department of Training and Workforce Development): TrainingWorkforce and of Department from received funds (State Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 107,335,184 100,407,437 2017 97,664,851 2,924,113 2,742,586 6,927,747 3,445,446 $ $ 477,272 80,916 (1,135) (5,008) (3,873) 5,670 5,670 662 - - 31 December31 11 April to to April 11 93,475,527 90,043,943 86,944,463 2,775,729 2,720,250 2016 2016 3,431,584 576,139 379,230 $ $ (35,864) (52,068) (52,068) 79,716 16,204 14,334 1,870 - - FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 24 23 22 25 Amount written off during the period the during written off Amount expense debts Doubtful GST receivable receivables of Allowance impairment for revenue Accrued other - Receivables Receivables - students - Receivables Total current Total Prepayments Current instruments'. 'Financial 40 note and 'Receivables' 2(n) note also See receivables. for security as enhancements credit other or any hold collateral not The College does period of end at Balance 34) (Note in transferred Debts Doubtful for Provision period of start at Balance receivables: of allowance the in impairment for changes of Reconciliation current Total trade - Receivables Current 'Trading 17 profit/(loss)'. note and 'Inventories' 2(m) note also See Total resale: for held Inventories Current Pay provision) (27th account suspense salaries Accrued Non-current Development Workforce Training and of Department from received works Capital (a) grants Current Receivables Inventories cash andRestricted cash equivalents Other assets Other (b) Funds provided by the Department of Training and Workforce Development in establishment of College funds for capital and other works other and capital for College funds of establishment in Development TrainingWorkforce and of Department by the provided Funds (b) Other (at cost) Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 (1,438,957) (1,438,957) (1,734,007) 1,088,916 2,719,321 1,173,397 1,178,811 1,178,811 3,220,163 2,359,726 1,088,916 2,719,321 $ $ $ $ 156,623 138,427 341,734 784,236 - - - - 27 (1,106,532) (1,734,007) (1,734,007) 2016 2016 1,167,925 1,510,112 2,400,000 1,542,548 2,534,385 2,877,831 1,542,548 3,776,765 (953,852) 326,377 763,273 298,350 763,273 477,831 $ $ $ $ 10,188 10,188

- - SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 73 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 74 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 27 26 At cost Plant, furniture and general equipment general and furniture Plant, Computer equipment, communication network (b) communication equipment, Computer Accumulated depreciation Accumulated At cost Motor vehicles, caravans and trailers trailers and caravans vehicles, Motor Accumulated depreciation Accumulated At cost improvements Leasehold Construction costs Buildings under construction under Buildings (a) value fair At Buildings (a) value fair At Land owners. to distribution for held as classified been has asset the Approval awaits Ministerial this While Melville. City of the to Precinct was Cultural House Murray agreement an 2017 the July 20 drawn On (a) transfer to up Buildings balance Closing Buildings sale for held as reclassified assets Total (a) Buildings owners to distribution for held as reclassified Assets Buildings Balance Opening Accumulated depreciation Accumulated At cost Property, plant and equipment and plant Property, owners to distribution for held as classified assets Non-current Accumulated depreciation Accumulated Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 216,507,070 103,470,000 216,507,070 103,470,000 2017 2017 (2,420,108) (1,084,963) (1,382,524) 6,662,646 2,537,531 9,082,754 1,517,914 3,920,055 $ $ (138,978) 950,074 950,074 950,074 392,854 432,951 950,074 950,074 950,074 253,876 - - - - 31 December31 11 April to to April 11 236,467,582 121,770,000 236,467,582 121,770,000 (1,550,175) 2016 2016 8,076,823 1,729,442 2016 2016 9,626,998 1,293,698 1,517,914 2,399,894 (224,216) (670,452) 136,270 136,270 449,410 370,579 $ $ (78,831) ------FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South At fair value (Note 5) (Note value fair At Accumulated depreciation Accumulated but erroneously expensed. This also resulted in an increase of $81,521 in Accumulated Depreciation. Accumulated in $81,521 of increase an in resulted also This expensed. erroneously but were 2016 in that $640,239 purchased totalling network or agroup assets of recognise to restated been have year comparatives Prior (b) provided Note in is measurements value on 28. Information fair equipment'. and plant 'Property, 2(f) note See land). use with land for restricted (high low utility evidence with level market comparison of basis was land the on of determined value fair and cost replacement depreciated of basis was the on buildings of determined value fair balance, remaining For the $14,900,000). (2016: 13,500,000 $ land: for values market to was by reference value determined fair revaluation, the undertaking In date. that at recognised and 2017 year were December 31 ended the during performed The valuations Services). (Valuation Authority Information Land Australian Western by 2017 July the 1st at were as buildings and Land (a) revalued of artWorks At cost craft Marine At fair value fair At Library Collection At cost Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 332,331,303 2017 1,230,276 1,230,276 $ 577,728 577,728 659,225 659,225 - - 371,738,630 2016 2016 1,087,755 1,087,755 $ $ 722,840 722,840 (13,101) 96,742 83,641

- SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 75 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 76 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South Information on fair value measurements is provided in Note 28. Note in provided is measurements value fair on Information income. comprehensive other in decrement arevaluation as recognised is loss the written amount, is down asset recoverable to revalued previously a Where loss. or profit in recognised is loss impairment an written amount, is down cost at recoverable to measured asset an Where Income. Comprehensive of Statement the in Recognised (a) period of end at amount Carrying Depreciation (a) increments/(decrements) Revaluation Disposals Other Transfers Additions Reclassification expensed assets Minor in transferred land of overstatement of Correction Assets transferred in to December 31 2016 April 11 (a) increments/(decrements) Revaluation owners 26) (Note by distribution for held as Classified Disposals Other 34b) (Note out Transfers 34a) (Note in Transfers Additions year of start at Carrying amount below. table the in out set are period reporting the of end and beginning the at equipment and plant property, of amounts carrying the of Reconciliations Depreciation Carrying amount at end of period of end at Carrying amount 2017 Overview oftheagency 121,770,000 127,170,000 121,770,000 103,470,000 (11,550,000) Land Land Land (5,400,000) (6,750,000) $ $ $ $ ------236,467,582 242,848,057 236,467,582 216,507,070 (61,835,000) Buildings Buildings Buildings 52,319,237 (4,313,339) (3,288,885) (4,872,508) (4,641,271) (950,074) 473,167 748,582 $ $ $ $ 23,104 (4,000) - - - - Agency performance construction construction construction Buildings Buildings Buildings under under (149,881) (473,127) 136,270 609,397 136,270 $ $ $ $ 13,611 ------improvements improvements improvements Leasehold Leasehold Leasehold 1,293,698 1,517,914 1,293,698 (224,216) (860,747) 432,951 $ $ $ $ ------and trailers trailers and trailers and caravans caravans caravans caravans vehicles, vehicles, vehicles, vehicles, Motor Motor Motor 370,579 411,916 370,579 253,876 (78,831) (37,544) (20,162) (35,000) (71,086) 73,168 $ $ $ $ 9,545 1,870 impacting theagency Significant issues ------Plant, furniture furniture Plant, furniture Plant, and general general and general and equipment equipment equipment 10,250,673 (1,557,658) (1,051,498) (1,372,067) 1,731,924 8,076,823 8,076,823 6,662,646 (112,473) (672,682) (722,536) $ $ $ $ 237,033 (47,197) (20,873) - - - - - communication communication communication communication equipment, equipment, equipment, equipment, Computer Computer Computer network network 1,693,648 1,811,465 1,729,442 1,729,442 2,537,532 (117,442) (655,861) (787,651) $ $ $ $ 655,844 (97,907) 39,305 (3,869) ------Marine craft craft Marine craft Marine compliance Disclosures andlegal $ $ $ $ 452,156 577,727 (13,101) (18,095) 98,412 83,641 83,641 60,025 (1,670) ------Works of art Works of art Works $ $ $ $ 105,165 722,840 722,840 659,225 622,900 (23,615) (40,000) (5,225) ------Collection Collection Collection Collection Library Library 1,087,755 1,087,755 1,230,276 $ $ $ $ 142,521 655,676 432,079 ------371,738,630 385,478,675 371,738,630 332,331,303 (74,609,405) (11,562,483) 52,319,237 (5,400,000) (6,843,006) (3,288,885) (7,750,917) 4,066,509 2,698,308 Total Total Total (829,338) (920,194) (950,074) $ $ $ $ (56,291) (20,833) - FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 28 Depreciation Expense Depreciation Depreciation Expense Depreciation Revaluation decrements (Note 11) (Note decrements Revaluation 34) (Note in transferred land of overstatement of Correction Disposals 11) (Note decrements Revaluation Fair Value at end of period of end at Value Fair Additions 34) (Note in transferred Assets period of start Fair at Value to December 31 2016 April 11 period of end at Value Fair Owners to 26) (Note Distribution Held for as reclassified Assets 34) (Note Transfers Additions period of start Fair at Value 2017 using measurements unobservable value significant Fair inputs 3) (Level value. fair determine to used is Art of Works and Craft Marine accommodation), (office buildings and land comparable of prices sales of evidence Market approach. market the using derived are Art of Works and Craft Marine Accommodation), (Office Buildings and Land sale, for held assets Non-current of values 2fair Level values Valuation techniques fair 2 Level to derive periods. previous the and current the during 3 or 2 1, There between were Levels transfers no 27) (Note Art of Works 27) (Note Buildings 27) (Note Land 2016 : value Assets measured fair at 27) (Note Art of Works 27) (Note craft Marine 27) (Note Buildings 27) (Note Land 2017 : value Assets measured fair at Fair value measurements value Fair Overview oftheagency Agency performance impacting theagency Significant issues Level 1 Level 1 Level $ $ ------compliance Disclosures andlegal 15,622,840 14,736,953 14,900,000 13,500,000 Level 2 Level 2 Level 722,840 659,225 577,728 $ $ - - Level 3 Level 3 Level 106,870,000 112,270,000 106,870,000 343,337,582 306,477,070 236,467,582 106,870,000 216,507,070 Land Land Land (11,550,000) 89,970,000 89,970,000 (5,400,000) (5,350,000) $ $ $ $ $ ------at end of period of end at period of end at Buildings Buildings Buildings Fair Value Fair Value 236,467,582 242,848,057 236,467,582 236,467,582 121,770,000 216,507,070 103,470,000 165,137,907 358,960,422 321,214,023 (61,835,000) (4,313,339) (4,641,271) (3,288,885) (4,872,508) 1,221,749 $ $ $ 722,840 659,225 577,728 $ $ 23,104 (4,000)

- - - SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 77 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 78 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South Buildings Land Description community service and the College's enabling legislation. enabling College's the and service community aspecific deliver to held being assets the of by virtue imposed are restrictions These requirements. to surplus be when to determined not are they disposal and use their on placed been have limitations or restrictions that recognises basis use The existing basis. use existing an on hierarchy value fair the of 3 Level at valued are assets non-financial assets, the of nature specialised the to due evidence market-based of absence the In ofBasis Valuation aboutInformation measurements value unobservable significant inputs fair in 3) (Level land. of values fair with estimated correlating land higher comparator of values higher with land, comparator of values to sensitive is measurement value The fair methodology. valuation this in input 3 Level significant a of application the represents and Services) (Valuation Authority Information Land Australian Western by the with land selected of is low utility comparators level The relevant land). use with land for restricted (high low utility evidence with level market comparison on based is land use restricted for Fair value values) Land 3fair (Level buildings. of with values fair lower estimated correlating estimate the of with values higher consumption/obsolescence, of estimate the to sensitive is measurement value The fair Services). (Valuation Authority Information Land Australian Western by the which estimated is Services). (Valuation Authority Information Land Australian asset of benefit/obsolescence economic consumed input, 3 Level significant the utilises cost replacement depreciated using Valuation size specifications. project gross the and utility comparable of asset asubstitute of cost replacement observable market the to by reference calculated College is by held the assets such of cost replacement current the of Determination (where asset. the of applicable) optimisation and obsolescence, or benefit expired economic benefit, economic already consumed the reflect to cost such of basis the on calculated depreciation accumulated less asset an of cost replacement current the is cost replacement Depreciated cost. replacement depreciated the i.e. asset, the in embodied benefits economic future remaining the replacing of cost the to by reference determined is building specialised use existing for Fair value values) 3fair (Level Buildings basis. arecurring on 3inputs Level significant utilise where 3 within valuations Level categorised be the to buildings and land of valuations require instructions Treasurer's as sale for held assets non-current newly as assets classified to generally limited are Transfers transfer. the caused that circumstances in change or event the of date the on recognised are level value afair of out and in Transfers period. the during techniques There were valuation in changes no Valuation processes Overview oftheagency $000 $000 2017 Value Fair 216,507,070 89,970,000 $000 $000 2016 Value Fair 106,870,000 236,467,582 Agency performance Cost Cost Replacement Depreciated Approach Market Technique(s) Valuation benefit/obselescense of asset. asset. of benefit/obselescense square metre floor area (m2). (m2). floor area metre square Selection of land with similar land of Selection similar with Historical cost of building per per building of cost Historical Consumed economic economic Consumed approximate utility. utility. approximate Unobservable Inputs Inputs impacting theagency Significant issues compliance Disclosures andlegal FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 32 31 30 29 Paid parental leave payable leave parental Paid costs related and salaries Accrued Accrued expenses Accrued Amortisation expense Amortisation Additions Long service leave (b) leave service Long Total non-current Total (e) on-costs Employment provisions Other (b) leave service Long provision benefits Employee Non-current current Total (d) Scheme Leave Purchase (a) leave Annual provision benefits Employee Current Instruments'. 'Financial 40 note and 'Payables' 2(o) note also See current Total Trade payables Current use. for available yet not werethere assets intangible no period reporting the of end the At period. reporting the during life with useful The goodwill no College held indefinite an assets intangible or 2017. December 31 at assets intangible or equipment and plant property, to impairment There were of indications no period of end at amount Carrying period of start at Carrying amount software Computer Reconciliations At cost software Computer Assets transferred in Provisions Payables of assets Impairment assets Intangible Employment on-costs (e) on-costs Employment provisions Other Deferred Salary Scheme (c) Salary Scheme Deferred Accumulated amortisation Accumulated Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 19,222,776 14,345,503 20,448,405 2,121,154 3,631,035 3,860,825 3,631,035 4,632,710 3,181,238 1,225,629 $ $ $ (171,343) (302,459) 964,290 229,790 252,867 383,983 241,393 229,790 81,524 88,566 81,524 7,228 3,170 - - 23,814,812 18,103,188 25,308,443 2016 2016 1,261,086 1,939,924 1,172,201 4,569,836 4,569,836 5,452,091 1,493,631 4,858,810 4,378,027 (131,116) (131,116) 285,640 252,867 252,867 288,974 383,983 252,065 288,974 $ $ $ 98,343 4,816 7,468

- SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 79 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 80 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 33 Amount payable to North Metropolitan TAFE for current leave liabilities leave TAFE current for Metropolitan North payable to Amount Additional provisions recognised provisions Additional period reporting the of end the after months 12 than More period reporting the of end the after months 12 than More (a) Income received in advance comprises: advance in received Income (a) current Total trust in held Money/deposits (a) advance in received Income Current period of end at amount Carrying period of start at Carrying amount provision on-cost Employment below. out set are benefits, employee than other year, financial the during provisions of class each in Movements provisions other in Movements expenses'. 'Other 12 note in disclosed is cost), (finance unwinding the discount the from of apart expense, The associated payments. future expected of value present the is The provision insurance. workers' including compensation on-costs employment of payment the to rise gives liabilities leave service long and annual of The(e) settlement period reporting the of end the of months 12 Within follows: as occur to expected is liabilities the of settlement Actual period. reporting the of end the after months 12 least at for settlement defer to right where unconditional no current is as there classified been have liabilities leave Purchased (d) period reporting the of end the of months 12 Within follows: as occur to expected is liabilities the of settlement Actual period. reporting the of end the after months 12 least at for settlement defer to right where unconditional no current is as there classified been have liabilities scheme salary Deferred (c) period reporting the of end the of months 12 Within follows: as occur to expected is liabilities the of settlement actual that indicate Assessments period. reporting the of end the after months 12 least at for settlement defer to right where unconditional no current is as there classified been have liabilities leave service Long (b) period reporting the of end the of months 12 Within follows: as occur to expected is liabilities the of settlement actual that indicate Assessments period. reporting the of end the after months 12 least at for settlement defer to right unconditional no is there as current as classified been have liabilities leave Annual (a) Other liabilities Provision for Delivery and Performance Agreement Refund Agreement Performance and Delivery for Provision period reporting the of end the after months 12 than More More than 12 months after the end of the reporting period reporting the of end the after months 12 than More Learning Resource Centre Project Centre Resource Learning Other Student fees and charges charges and fees Student Fee for service Fee for Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 17,976,538 10,664,551 4,632,710 2,657,640 2,929,651 1,455,420 1,782,605 7,311,987 3,760,347 $ $ $ $ $ (327,185) 211,887 265,742 241,393 872,363 265,742 121,844 119,549 15,281 35,616 2,958 3,170 6,269 3,170 - - 22,673,024 15,501,029 2016 2016 2,702,224 3,087,400 2,621,964 1,786,360 7,171,995 4,599,962 3,087,400 5,452,091 5,718,522 1,782,605 $ $ $ $ $ 176,541 165,562 252,065 852,129 153,754 $ 43,073 98,311 (3,755) 7,468 9,158 7,468 - - FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 34 Establishment of College funds across the training sector as part of the Training Sector Reform Project Reform Training Sector the of part as sector training the across College funds of Establishment Correction of overstatement of land transferred in transferred land of overstatement of Correction but erroneously expensed. This also resulted in an increase of $81,521 in Depreciation expense. Depreciation in $81,521 of increase an in resulted also This expensed. erroneously but were 2016 in that $640,239 purchased totalling network or a group assets of recognise to restated been have year comparatives Prior (a) period of end at Equity Total period of end at Balance (a) period the for Result period of start at Balance Accumulated deficit period of end at Balance craft Marine period of start at Balance surplus revaluation Asset Reserves being; campuses, Midland and Balga to TAFE relating Metropolitan North to liabilities and assets of Transfer (b) Development. Training Workforce and of Department the works from capital major other and building Murdoch the of Transfer (a) period of end at Balance owners to distributions Total (b) Government to transferred assets Net owners to Distributions by owners contributions Total owners by Contributions period of start at Balance equity Contributed assets. non-current of revaluation the from resulting equity of portion that represents surplus revaluation The asset College. the of assets net the in interest residual the represents Equity community. the of College behalf on the in interest equity the holds Government Australian The Western Capital appropriation (a) appropriation Capital Other contributions by owners by contributions Other Transfer of net assets from other agencies other from assets net of Transfer Equity Overview oftheagency Water Corporation Equipment Corporation Water Debtors Student Liabilities Leave Property, Plant & Equipment & Plant Property, Agency performance (74,609,405) (71,584,991) 3,099,955 (10,872) (64,669) impacting theagency Significant issues compliance Disclosures andlegal 346,834,501 369,223,643 388,489,397 (22,449,168) (15,409,859) (71,584,991) (71,584,991) 2017 52,319,237 52,319,237 (7,039,309) $ $ 60,026 60,026 - - - - 384,865,118 381,450,088 388,489,397 388,489,397 (5,400,000) (7,039,309) (7,039,309) 2016 2016 8,573,804 450,475 $ $

------SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 81 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 82 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 35 Change in GST in receivables/payables (c) (c) Change GST in receivables/payables in (b) GSTNet receipts/(payments) Other current assets current Other Other non-current assets non-current Other Non-current provisions Non-current liabilities current Other Current payables (a) payables Current At the end of the reporting period, the College had fully drawn on all financing facilities, details of which are disclosed in the financial statements. financial the in which of disclosed are details drawn College fully had facilities, the period, financing all on reporting the of end the At payables and GST receivables in the out reverses This (c) transactions cash i.e. GST paid/received, net the is This (b) items. reconciling the of part form not do they as items these in included not are assets non-current of sale/purchase the of respect in receivable/payable GST the and of respect in (ATO) receivable/payable Taxation Office Australian the that Note (a) Net cash used operating in activities liabilities in Increase/(decrease) inventories Current (a) receivables Current assets: in (Increase)/decrease Decrement') Revaluation 'Asset 11 (Note decrement revaluation Asset assets’) non-current of sale on ‘Net 20 (note gain/(loss) equipment and plant property, of sale on (gain)/loss Net Government’) State from ‘Income 21 (Note charge of free received Services ‘Other 12 (note expense expenses’) debts Doubtful expense amortisation and 9'Depreciation (note expense amortisation and Depreciation items: Non-cash Net cost of services of toReconciliation net net cost cash used of flows services operating in activities equivalents cash and Cash follows: as Position Financial of Statement the in items related the Flows to Cash of reconciled shown is as year, Statement the in financial the of end the at Cash ofReconciliation cash Notes to the Statement of Cash Flows Cash of Statement the to Notes Current provisions Current Restricted cash and cash equivalents (refer to note 22 'Restricted cash and cash equivalents') cash and cash 'Restricted 22 note to (refer equivalents cash and cash Restricted Overview oftheagency Agency performance ) impacting theagency Significant issues compliance Disclosures andlegal (100,241,522) (122,745,043) 2017 2017 39,492,744 11,622,508 35,684,507 (1,749,738) (2,824,546) (1,254,138) 1,728,742 6,927,747 7,922,260 3,808,237 $ (452,156) (423,888) (138,427) 363,734 673,746 10,188 98,151 (662) 31 December31 11 April to to April 11 (100,433,315) (10,429,817) (91,126,586) 44,392,892 40,751,788 (1,454,204) (2,826,236) (1,113,630) 2016 2016 1,486,651 2016 2016 2,914,752 3,431,584 3,288,886 5,774,367 3,641,104 6,974,122 (425,000) 953,852 601,419 $ 93,342 36,641 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 38 37 36 Later than 5 years 5 than Later Later than 5 years 5 than Later Later than 1 year and not later than 5years than later year 1 not and than Later No events occurred after the end of the reporting period. reporting the of end the after occurred No events 2017. December 31st at assets contingent or liabilities The College contingent no had Buildings for: amounts include commitments The capital 5years than later year 1 not and than Later 1year Within follows: payable are as statements, financial the in reported amounts the to additional expenditure capital contracted being commitments, expenditure Capital commitments expenditure Capital GST. of below inclusive are The commitments 1year Within follows: payable are as payments lease minimum for Commitments commitments lease operating Non-cancellable Events occurring after the reporting period reporting the after occurring Events assets contingent and liabilities Contingent Commitments Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 6,916,890 2,856,646 2,702,760 1,357,484 $ $ 111,144 111,144 111,144 - - 2016 2016 2,699,585 3,230,777 1,381,896 1,756,801 2,699,585 2,699,585 6,369,474 $ $

- - SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 83 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 84 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 39 Cost of sales subsidies and Grants Other expenses Other decrement revaluation Asset Service received free of charge charge of free received Service expenses amortisation and Depreciation TOTAL COMPREHENSIVE INCOME FOR THE PERIOD THE FOR INCOME COMPREHENSIVE TOTAL Income Comprehensive Other Total surplus revaluation asset in Changes OTHER COMPREHENSIVE INCOME PERIOD THE FOR DEFICIT Total Income fromState Government appropriation Service GOVERNMENT FROM INCOME NET COST OF SERVICES Government State from income than other income Total Gains Total assets current non of disposal on Gain Gains Revenue Total services for Fees Revenue Income Total cost of services services and Supplies expense benefits Employee Expenses COST OF SERVICES Statement of Comprehensive Income 2017 DECEMBER 31 ENDED YEAR THE FOR Position. Financial of Statement the for $7,545,092 and 5.0% (ii) Flows; Cash and and Income Comprehensive of Statement the for $3,640,985 and 5.0% (i) applicable: as or, aggregate dollar lower the the or being million $25 aggregate, of dollar a than greater and 5% than greater those be to considered are variances Major shown are 2016 and 2017 for below. results between and 2017, actual for the results actual and between estimates budget original variances Major Explanatory statement Other revenue Other assets non-current of disposal on Loss Interest revenue Interest Sales Ancillary Trading Student fees and charges charges and fees Student Overview oftheagency Agency performance Notes impacting theagency Significant issues 5,A,B 2, C 2, 1, B 1, 4, A 4, A 6 3 (122,745,043) 107,335,184 100,407,437 182,049,241 117,476,683 (15,349,833) (15,409,859) 11,622,508 11,284,351 59,304,198 59,303,536 27,848,058 33,046,010 24,144,340 Actual Actual 6,927,747 7,922,260 4,156,885 1,058,971 1,727,613 2017 244,324 453,105 367,669 60,026 60,026 60,026 662 662 - 31 December31 11 April to to April 11 (100,514,836) 156,426,220 108,465,288 Actual Actual 10,430,536 93,475,527 90,043,943 55,911,384 25,782,171 26,716,513 55,911,384 24,396,265 (7,039,309) (7,039,309) 2016 2016 3,288,886 3,431,584 6,974,122 3,360,431 1,202,367 192,443 322,568 896,094 274,056 35,864 - - - - - compliance Disclosures andlegal (104,920,969) 165,517,628 117,905,232 Estimate 96,789,555 60,596,659 14,784,768 92,896,000 60,580,508 26,886,399 23,824,319 27,901,826 (8,131,414) (8,131,414) 3,893,555 8,504,445 4,090,946 1,169,474 2017 270,670 228,194 531,863 16,151 16,151 ------Act & 2017 2016 Variance (22,230,207) 13,859,657 25,623,021 10,363,494 (8,310,524) (8,370,550) 8,333,622 3,496,163 3,392,814 3,392,152 2,065,887 6,329,497 9,011,395 (251,925) 130,537 948,138 853,815 796,454 525,246 162,877 (35,864) 60,026 51,881 60,026 60,026 93,613 662 662 Est & Actual & Actual Est Variance (17,824,074) 11,622,508 10,545,629 16,531,613 (7,218,419) (7,278,445) (1,292,461) (3,500,417) (1,276,972) (3,757,486) 3,034,192 7,511,437 9,221,691 1,058,971 (582,185) (228,194) (428,549) (164,194) 182,435 244,324 558,139 961,659 (15,489) (15,489) 60,026 65,939 60,026 63,426 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South Non-current assets classified for sale sale for classified assets Non-current Provisions Provisions TOTAL EQUITY EQUITY TOTAL Equity Contributed EQUITY NET ASSETS LIABILITIES TOTAL Liabilities Non-Current Total Provisions Liabilities Non-Current Total Current Liabilities Payables Current Liabilities LIABILITIES ASSETS TOTAL Assets Non-Current Total equipment and plant Property, equivalents cash and cash Restricted Assets Non-Current Assets Current Total equivalents Cash and Cash Assets Current ASSETS Position Financial of Statement Other current liabilities liabilities current Other assets current Other Inventories Accumulated deficit deficit Accumulated Reserves assets Intangible equivalents cash and cash Restricted Receivables Receivables Overview oftheagency Agency performance Notes impacting theagency Significant issues 7, D 7, 346,834,501 369,223,643 346,834,501 377,254,620 333,501,744 332,331,303 (22,449,168) 20,448,405 30,420,119 26,559,294 43,752,876 35,684,507 Actual Actual 3,860,825 3,860,825 3,181,238 1,088,916 2,929,651 1,178,811 2,719,321 3,220,163 2017 950,074 60,026 81,525 - 381,450,088 381,450,088 421,713,890 372,754,770 388,489,397 371,738,630 Actual Actual 25,308,443 35,404,992 40,751,788 40,263,802 48,959,120 (7,039,309) 2016 2016 4,858,810 4,858,810 4,378,027 5,718,522 1,542,548 2,877,831 3,776,765 763,273 252,867 10,188 - - compliance Disclosures andlegal 300,812,381 301,352,392 337,552,431 299,825,057 312,465,965 298,553,569 Estimate (11,653,584) 29,392,294 21,740,247 36,200,039 37,727,374 31,179,594 6,807,745 6,807,745 3,631,641 1,186,798 4,020,406 2,596,602 3,869,754 2017 81,424 84,690 - - - Act & 2017 2016 Variance (34,425,454) (34,615,587) (44,459,270) (39,253,026) (19,265,755) (39,407,327) (15,219,725) (1,196,789) (8,845,698) (2,788,871) (4,860,038) (9,843,683) (5,206,244) (5,067,281) (997,985) (997,985) (363,737) (556,602) (158,510) (171,342) 325,643 950,074 (10,188) 60,026 Est & Actual & Actual Est Variance (10,523,930) 46,293,774 45,482,109 39,702,189 33,676,687 56,757,678 33,777,734 (2,946,920) (2,946,920) (1,417,791) (2,833,000) (1,090,755) (1,291,842) (5,779,920) 2,719,321 6,025,502 4,504,913 (450,403) (649,591) 950,074

(97,882) (81,424)

60,026 (3,165) SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 85 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 86 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South GST payments on purchases purchases on GST payments D) Property, Plant & Equipment in 2017 is less than 2016 primarily due to significant asset revaluation decrements and asset transfers of Balga and Midland campuses. Midland and Balga of transfers asset and decrements revaluation asset significant to due primarily 2016 than less is 2017 in Equipment & Plant D) Property, Government. State across with devaluations land consistent 2016, in was decrement buildings the College and land than of larger C) The devaluation 2017 support. infrastructure in increase considerable a saw 2017 were as 2016, in than more Development Training Workforce and of Department the from charge of free provided Resources B) 2016. April 11 on operations College commenced the as year result apart being 2016 to due mainly 2016, than 2017 in higher is Amount A) and 2017 between for 2016 ActualVariance results transfers. and revaluations asset of impact estimated the to variances the to due estimate than greater is Equipment & Plant Property, 7) Expenses. Other and between Services and Supplies classification budgeting to due mainly is this below are expenses Other 6) estimates, Expenses. Other and between Services and Supplies differences classification budgeting and provided resources departmental of cost increased reflecting estimates, above are Services and Supplies 5) funding. additional of receipt the and training delivery profile of purchase increased to due estimated than higher is Appropriation Service 4) conditions. economic expected than poorer to due were forecast than collected less fees other and Tuition 3) budgeted. not therefore and was buildings and land anticipated of not valuation 2017 the in decrement The2) $11.6M support. infrastructure in increase aconsiderable to due were estimated, than more Development Workforce Training and of Department the from charge of free provided Resources 1) and between Estimate ActualVariance Narratives Variance Major PERIOD THE OF END ATTHE EQUIVALENTS ANDCASH CASH period the of beginning the at equivalents cash and Cash equivalents cash and cash in increase/(decrease) Net Net cash used investing activities in assets non-current of sale from Proceeds assets non-current of Purchase ACTIVITIES INVESTING FROM FLOWS CASH Net cash used operating in activities receipts Other Sales authority taxation from GST receipts sales on GST receipts received Interest contributions and Commonwealth grants Ancillary trading charges and fees Student services for Fees Receipts benefits Employee Payments ACTIVITES OPERATING FROM CASHFLOWS Government by State Provided Cash Net Project Reform Training Sector the of part as sector training the across College funds of Establishment Project TAFE - Reform transferred Cash appropriation Service GOVERNMENT STATE FROM FLOWS CASH Statement of cash Flows Other payments payments Other Grants and subsidies subsidies and Grants Services and Supplies Overview oftheagency Agency performance Notes impacting theagency Significant issues 4, A 4, A A A 3 5 (100,241,522) (117,446,357) (27,791,021) (11,464,167) 39,492,745 22,032,403 28,143,245 44,392,892 97,785,472 97,785,472 Actual Actual (4,900,147) (2,444,097) (2,449,767) (3,100,782) 1,728,742 1,216,832 1,092,705 1,727,613 3,704,701 2017 (453,105) 367,669 5,670 - - - 31 December31 11 April to to April 11 (108,914,830) 136,839,651 (91,126,586) (22,240,224) Actual Actual 21,937,011 23,888,957 44,392,892 35,599,939 92,665,908 44,392,892 (1,320,173) (1,334,506) (2,663,101) (9,869,411) 2016 2016 1,486,651 1,208,897 1,202,367 8,573,804 2,282,220 (322,568) 603,389 274,056 14,333 - compliance Disclosures andlegal (118,900,744) (93,885,366) Estimate (20,879,078) (14,657,870) 32,366,392 27,671,940 27,006,399 35,550,899 98,896,000 98,896,000 (3,184,507) (2,195,141) (2,211,292) 1,179,404 1,169,474 3,555,490 2017 (270,670) 121,257 132,374 (13,342) 16,151 - - - - Act & 2017 2016 Variance (49,293,039) (39,054,179) (35,599,939) 44,392,892 (9,114,936) (1,123,924) (4,900,147) (5,550,797) (8,531,527) (8,573,804) (1,115,261) (1,594,756) 1,422,481 4,254,288 5,119,564 (130,537) (437,681) 489,316 242,091 525,246 93,613 95,392 (8,663) 7,935 - Est & Actual & Actual Est Variance (6,356,156) (5,639,537) (1,715,640) (1,110,528) (1,110,528) (3,087,440) (6,911,943) 1,095,575 1,728,742 1,136,846 8,841,993 7,126,353 1,454,387 3,193,703 (132,374) (248,956) (182,435) (238,475) 367,669 558,139 149,211 (86,699) (10,481) - - FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 40 Financial Assets Financial : are period reporting the of end the at liabilities financial and assets financial of following the of categories each of amounts The carrying instruments financial of Categories (b) rate). interest (fixed borrowings leases finance and borrowings no WATC has than it and other bearing non-interest are cash restricted and equivalents cash and cash of majority the because risk rate interest to exposed not College is the 44(c), Note at table analysis sensitivity rate Interest the in detailed as than Other with maturities. rates fixed varying repayable are at and (WATC) Treasury Corporation Australian borrowings Western All the to due are changes). prices commodity or securities equity example, (for risks price other to exposed materially not is and currency foreign in trade not The College does instruments. financial of holdings its of value the or income College's the will rates affect interest and rates exchange foreign as such prices market in changes that risk the is risk Market Market risk commitments. its meet to available are funds sufficient that ensure flows to cash flows drawdowns forecast cash including manage by to monitoring appropriations procedures of appropriate The College has business. of course normal the in trading its through risk liquidity to exposed The College is due. fall they as obligations financial its when meet to unable arises College is the risk Liquidity risk Liquidity risk. credit of concentrations significant no are there period reporting the of end the At minimal. is debt bad to exposure College's the that with result basis ongoing an on the monitored are balances receivable addition, In history. with credit appropriate an customers to made are services and products of sales that ensure to place in policies The College has parties. only creditworthy with third College trades the recognised, because minimal is assets with financial College’s the associated risk Credit ‘Receivables’. 24 note and disclosures’ instruments ‘Financial 40(c) note shown at as table any the allowance in of impairment for inclusive assets those of amount carrying gross the is assets financial recognised of class each to relation in period reporting the of end the at risk credit to exposure The maximum College. the to loss financial in resulting obligations contractual their on defaulting receivables College’s the of when possibility the arises is there risk Credit Credit risk below: identified risk the managing on focuses program management risk overall The College's risks. financial to exposure limited The College has liabilities. other and payables receivables, and loans equivalents, cash and cash restricted equivalents, cash and College cash are by held the instruments Financial management objectives risk and Financial (a) policies Financial Liabilities Financial (a) Receivables equivalents cash and cash Restricted equivalents cash and Cash (a) The amount of receivables excludes GST recoverable from the ATO (statutory receivable). ATO (statutory the from GST recoverable excludes receivables of The(a) amount liabilities Other Payables Financial instruments Financial Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 35,684,507 2,878,429 3,808,237 2,663,909 3,181,238 $ 40,751,788 2016 2016 3,478,415 3,641,104 2,631,122 4,378,027

$ SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 87 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 88 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South (a) The amount of receivables excludes the GST receivables from the ATO (statutory receivable). (statutory ATO the from receivables GST excludes the receivables of amount The (a) Receivables (a) Receivables equivalents cash and cash Restricted equivalents cash and Cash (a) Receivables equivalents cash and cash Restricted equivalents cash and Cash Assets Financial holds. it assets financial the to relating enhancements credit other or security as any hold collateral not The College does carrying the is period reporting the of end the at risk credit to exposure The maximum College's assets. financial of analysis ageing the and risk credit to exposure maximum College's the The following discloses table Credit risk disclosures instrument Financial (c) impaired and impaired financial assets. The assets. financial impaired and impaired 2016 2017

Overview oftheagency amount Agency performance of financial assets as shown ageing as the below. assets discloses The table financial of Carrying Amount Amount $000 40,752 35,685 47,871 42,371 3,478 3,641 2,878 3,808 Not past due due past Not impaired impaired and not not and $000 40,752 35,685 47,154 41,558 2,761 3,641 2,065 3,808 Up to 1 1 Up to month month $000 impacting theagency Significant issues 321 715 321 715 Ageing assets analysis of financial - - - - 1-3 months months 1-3 $000 391 391 - - - - 94 94 Past due but not impaired not but due Past 3 months to 1 1 to months 3 $000 year - - - - 5 4 5 4 compliance Disclosures andlegal 1-5 Years Years 1-5 $000 ------More than 5 years years 5 than More $000 ------Financial Assets Assets Financial Impaired Impaired $000 1,734 1,439 1,734 1,439 - - - - FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South (a) The amount of receivables excludes the GST receivables from the ATO (statutory receivable). (statutory ATO the from receivables GST excludes the receivables of amount The (a) Other current liabilities current Other liabilities current Other Payables Liabilities Financial Receivables equivalents cash and cash Restricted equivalents cash and Cash Assets Financial Payables Liabilities Financial Receivables equivalents cash and cash Restricted equivalents cash and Cash Assets Financial item. each of amounts carrying only the analyses section exposure rate flows. The interest cash principal and interest includes section analysis The maturity liabilities. financial and assets financial of analysis maturity contractual the and exposure rate interest College’s the The following details table exposure rate interest and risk Liquidity 2016 2017 (a) (a) Overview oftheagency Average Effective Effective Average Effective Average Interest Rate Rate Interest Rate Interest Weighted Weighted Weighted 1.75% 1.75% 1.96% 1.96% % % Interest rate exposure and rate liabilities and assets maturity analysisInterest financial of financial exposure and rate liabilities and assets maturity analysisInterest financial of financial Carrying Carrying Amount Amount Amount $000 $000 40,752 35,685 47,871 42,371 2,631 2,664 7,009 3,478 5,845 2,878 4,378 3,641 3,181 3,808 Agency performance Interest rate exposure rate Interest exposure rate Interest Fixed Interest Fixed Interest Fixed Interest Rate Rate Rate $000 $000 ------Interest Rate Rate Interest Rate Interest Variable Variable Variable $000 $000 40,727 35,665 44,368 39,473 3,641 3,808 ------Bearing Bearing Bearing Interest Interest Non- Non- $000 $000 impacting theagency Significant issues 2,631 3,503 2,898 7,009 3,478 5,845 2,878 4,378 3,181 2,664 - - 25 20 Nominal Nominal Nominal Amount Amount Amount $000 $000 40,752 42,371 40,752 35,685 2,631 7,009 5,845 2,878 4,378 3,181 2,664 3,808 - - Up to 1 month month 1 Up to month 1 Up to Maturity dates Maturity dates Maturity $000 $000 42,371 40,752 35,685 47,871 4,387 2,878 4,378 3,181 2,664 3,478 5,845 3,641 3,808 9 compliance Disclosures andlegal 1-3 months months 1-3 months 1-3 $000 $000 2,622 2,622 ------3 months to 1 year 1 to months 3 year 1 to months 3 $000 $000 ------1-5 Years Years 1-5 Years 1-5 $000 $000 ------More than 5 5 than More 5 than More $000 $000 years years years

------SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 89 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 90 ANNUAL REPORT 2017 FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 42 41 Auditing the accounts, financial statements and key performance indicators performance key and statements financial accounts, the Auditing follows: as year is financial current the for audit the to respect in General Auditor the payable or to paid Remuneration Operations. Joint no The College has notes. applicable the in otherwise stated unless value fair of approximation reasonable a represent that amounts at recognised are value, fair or cost whether at carried are they Position, Financial of Statement the in recognised liabilities and assets financial All Fair values Increase/(Decrease) Total equivalents cash and cash Restricted equivalents cash and Cash Assets Financial 2016 Increase/(Decrease) Total equivalents cash and cash Restricted equivalents cash and Cash Assets Financial period. reporting the throughout constant held is rates interest in change the that assumed is It rates. interest in change 1% a for equity and period the for surplus the on period reporting the of end the at liabilities and assets financial College's the of sensitivity rate interest the of summary a The following represents table Interest rate sensitivity analysis Remuneration of auditor of Remuneration Operations Joint 2017 Overview oftheagency Agency performance Carrying Carrying Carrying $000 $000 $ 40,727 35,685 3,641 3,641 3,808 3,808 Surplus Surplus Surplus Surplus $000 $000 $ (407) (357) (36) (36) (38) (38) - 100 Basis Points Basis 100 - Points Basis 100 - Points Basis 100 - impacting theagency Significant issues Equity Equity Equity Equity $000 $000 $ (407) (357) (36) (36) (38) (38) compliance Disclosures andlegal Surplus Surplus Surplus Surplus $000 $000 $ + 100 Basis Points Basis 100 + Points Basis 100 + Points Basis 100 + 407 357 36 36 38 38 Equity Equity Equity $000 $000 2017 $ $ 173,000 407 357 36 36 38 38 31 December31 11 April to to April 11 2016 2016 171,000 $ FOR THE YEAR ENDED 31 DECEMBER 2017 DECEMBER 31 ENDED YEAR THE FOR STATEMENTS FINANCIAL THE TO NOTES TAFE Metropolitan South 45 46 44 43 Bad debts Bad The College provides only one service as defined by Treasurer's Instruction 1101 (9) and that is Vocational Education and Training and Delivery. Education Vocational is that and (9) 1101 Instruction by Treasurer's defined as only service one The College provides default or theft through property other and public and money public of Losses (b) Other Inventory year financial the during Council Governing by written-off the property Public (a) information financial Supplementary bodies. affiliated no The College has bodies. related no The College has Schedule of income and expenditure by service bodies Affiliated bodies Related Losses through theft, defaults and other causes other and defaults theft, through Losses Write-Offs Overview oftheagency Agency performance impacting theagency Significant issues compliance Disclosures andlegal 2017 $ 156,623 158,920 2,297 604 604 - - 31 December31 11 April to to April 11 2016 2016 326,377 333,369 $ 1,891 5,101 1,509 1,509

- SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 91 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 92 ANNUAL REPORT 2017 2 March 2018 Council Chair ofGoverning Elizabeth CarrAM performance ofSMTAFE fortheperiodending31December2017. appropriate forassistingusers toassessSouthMetropolitan TAFE’s performance,andfairlyrepresent the We hereby certifythatthekeyperformanceindicatorsare basedonproper records, are relevant and

PEFORMANCE INDICATORS CERTIFICATION OFKEY Overview oftheagency

2 March 2018 Managing Director Terry Durant Agency performance impacting theagency Significant issues compliance Disclosures andlegal graduates andprofile achievement. and graduatesatisfaction,labourforce statusof meeting communityandindustryneedsviastudent achievement ofvocationaleducationandtrainingin The effectiveness indicators measure the Effectiveness indicators training needs. training servicestomeetcommunityandindustry The provision ofvocational educationand Desired outcome

INDICATORS 2017 KEYPERFORMANCE Overview oftheagency

Agency performance survey usingComputerAssistedTelephone Interviewing(CATI). campuses. Asubsetofstudentswascalledinorder tocompletethe complete ahard copyquestionnaire provided bystaff ateachofthe website andviapostersoncampuses.Studentswere alsoableto online viae-mail,SMS,through theWA StudentSatisfactionSurvey or secondsemesterof2017were invitedtocompletethesurvey Metropolitan TAFE. Studentswhowere enrolled ineitherthefirst the qualityofdeliverytrainingandservicesprovided bySouth understanding ofthestudents’trainingrequirements andmeasure by PattersonResearch Group. Thekeyfocusistoattainan behalf oftheDepartmentTraining andWorkforce Development The StudentSatisfactionSurveyisadministered annuallyon STUDENT SATISFACTION SURVEY have beenexcluded from thescopeofsurvey: international for Skillsand Workforce Development. Thefollowing studentgroups amongst studentswhoare funded undertheNationalAgreement Notes: Student SatisfactionSurvey. Source: DepartmentofTraining andWorkforce Development,2017 Table 1–OverallStudentSatisfaction satisfied were youwithyourcourse?’ received from studentsresponding tothequestion‘Overallhow ‘satisfied’ and‘verysatisfied’(onafivepointscale)responses Metropolitan TAFE. Themeasure represents theproportion of students were satisfiedwiththetrainingtheyreceived from South Student SatisfactionSurveyandmeasures theextenttowhich The overallstudentsatisfactionratingisobtainedfrom the2017 KPI 1–StudentSatisfaction Western Australia South Metropolitan TAFE impacting theagency Significant issues The WA Student SatisfactionSurveyisanannualsurvey Actual 2016 88.9% 88.7% compliance Disclosures andlegal Target 2017 n/a >85% Actual 2017 87.3% 87.1%

Variance Target

n/a +2.1% SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 93 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 94 ANNUAL REPORT 2017 and training (VET)in2016withthedata collectedinmid-2017. vocationaleducation who havecompleted government-funded Survey whichprovides information ontheoutcomesofstudents for SouthMetropolitan TAFE relates tothe2017StudentOutcomes only. Thelatestgraduateachievementanddestination information organisational leveldatahasbeencollectedevery second year study andopinionsonthe trainingundertaken.Since2005, education andtrainingstudents’employmentlevels, further by theSocialResearch Centre. Thesurveymeasures vocational the NationalCentre forVocational EducationResearch (NCVER) The biennialStudentOutcomesSurveyisconducted onbehalfof STUDENT OUTCOMESSURVEY student satisfactionreported (88.7%) in2016. to beeithersatisfiedorverysatisfied.Thisissimilar to thelevelof TAFE wasmetandexceeded,with87.1%ofrespondents claiming The 2017target overallstudentsatisfactionatSouthMetropolitan at the95%levelofconfidence. error for2017was0.5%, with arelative samplingerror of+/-1.0% response rateof22.78%. SouthMetropolitan TAFE’s standard contacted, there were 3,460usablereturns representing a In 2017,ofthe15,186SouthMetropolitan TAFE students Percentages are rounded tothenearest wholepercentage. and surveydatawere removed. possibilities. Weight cellswithazero countforboththepopulation specific Training Provider, resulting in96different weightcell (15-19, 20-29,30-44,45+),studentstatus(IBS,EBS)andthe student populationbasedonacombinationofgender, agegroup data are basedonweightingtheresponse databacktothetotal All datadescribedinthisreport havebeenweighted.Theweighted facility andstudentsagedlessthan15years. education (ACE)students,studentswhoare inacorrectional a school-basedprogram (VETinschools),Adultcommunity full feepayingstudents,studentsundergoing trainingthrough Overview oftheagency Agency performance claiming tohave achievedtheirmain reason for doingthetraining. achievement wasmetandexceeded, with81.0%ofrespondents The 2017SouthMetropolitan TAFE’s target forgraduate confidence. sampling error forthisresult was +/-1.6%atthe95%levelof response rateof28.68%.SouthMetropolitan TAFE’s relative contacted, there were 1,917usable returns representing a In 2017,ofthe6,683SouthMetropolitan TAFE students Table 2–Graduate Achievement options ‘Yes’, ‘No’,‘Partly’or‘Don’t knowyet’. reason fordoingthetraining. Thequestionhasfourresponse indicated theyhadfullyachievedorpartlytheir main training”. Themeasure showstheproportion ofgraduateswho TAFE Graduateshave“Achievedtheirmainreason fordoingthe Survey andmeasures theextenttowhichSouthMetropolitan Graduate achievementisaquestionintheStudentOutcomes KPI 2-GraduateAchievement studentsunder18yearsofage. • studentswhoundertookVETdelivered inschools,where • studentswhoundertookrecreational, leisure orpersonal • students international • Out ofscopethesurveyare: South Metropolitan TAFE TAFE Australia All VETproviders Australia impacting theagency Significant issues certificate training activitywasundertakenaspartofaseniorsecondary enrichment (short)courses compliance Disclosures andlegal Target 2017 80% n/a n/a Actual 2017 81.0% 83.2% 84.2% industry and thelocalcommunity. priorities,theneeds ofindividuals, consideration government funded trainingdelivery plan. Thedeliveryprofile takesinto Development andconstitutes SouthMetropolitan TAFE’s profile negotiated directly withtheDepartment ofTraining andWorkforce and PerformanceAgreement (DPA) targets. Thedeliveryprofile is effectiveness ofSouthMetropolitan TAFE inmeetingitsDelivery This achievementofprofile delivery indicatorreports the KPI 4–Achievementofprofile delivery (byANZSCOs) with 73.2%ofrespondents claimingtobeemployedaftertraining. The 2017target forgraduatedestinationrate(employed) wasnotmet, result was+/-1.8%atthe95%levelofconfidence. 28.69%. SouthMetropolitan TAFE’s relative samplingerror for this there were 1,880usablereturns representing aresponse rateof In 2017,ofthe6,553SouthMetropolitan TAFE studentscontacted, Table 3–GraduateDestinationRate-Employed expressed asapercentage. to thetotalvalidresponses overthetotalresponses and obtained bycalculatingthegraduatesineachcategory compared was employed,unemployedornotinthelabourforce, andwas employability. Graduateemploymentstatusmeasures who college isproviding relevant, qualitytrainingthatenhancesstudent in employment.Thismeasure showstheextenttowhich Outcomes Surveyandmeasures theproportion ofgraduates Graduate destinationdataisalsotakenfrom theStudent KPI 3-GraduateDestination South Metropolitan TAFE TAFE Australia All VETproviders Australia Overview oftheagency Target 2017 >75% n/a n/a Actual 2017 73.2% 73.1% 77.7% Agency performance Technicians andTrade Workers. Engineering Trade Workers, ICTProfessionals, andOther and ServiceManagers, General Education,Automotiveand than 40,000SCHofpositive variance)were: Hospitality, Retail The ANZSCOlevelsthat were significantlyabovetarget (more Welfare SupportWorkers (7%). Engineering, ICTandScienceTechnicians (7%)andHealth Engineering Trades Workers (12%);Carers andAides(8%); achievement: GeneralEducation(17%);Automotive and ANZSCO subgroups constitutedover50%oftotalSCH As perthedatapresented inTable 5,in2017, thefollowing for 2017are provided inTable 5. and NewZealandStandard Classification ofOccupations)levels South Metropolitan TAFE’s profile delivery byANZSCO(Australia resulting inanoverallachievementof101.7%. the originalplannedtarget of7,167,547SCHby123,227SCH, The Profile delivered bySouthMetropolitan TAFE wasabove Table 4:Profile Achievement (DPA) of 7,167,547. was 7,300,000SCHcompared totheoriginalDPA target realistic targets. In2017,the finalamendedprofile SCHtarget changes intheoperatingenvironment andmodifytheDPA toset twice ayear. Thisprovides theopportunitytoconsider any review andmakeanymodifications totheoriginalDPA targets Workforce DevelopmentallowsSouthMetropolitan TAFE to originally negotiatedDPA. The Department ofTraining and It shouldbenotedthattheKPIreporting isbasedonthe (DPA Original) Profile Achievement impacting theagency Significant issues compliance Disclosures andlegal

Actual Achievement2017

101.7% SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 95 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 96 ANNUAL REPORT 2017 Table 5: Achievement of2017ProfileDelivery(DPA) by ANZSCO subgroups and Telecommunications Trades Workers, Carers andAides,GeneralClericalWorkers Specialist Managers,Design,Engineering,ScienceandTransport Professionals, ConstructionTrades Workers, Electrotechnology The ANZSCOlevelsthatwere significantlybelowtarget (more than40,000SCHofnegativevariance)were: 1. Managers Group Title ANZSCO Major 2. Professionals 3. Technicians and 4. Communityand Trades Workers Workers Personal Service Overview oftheagency ANZSCO SubGroup Title 11 –ChiefExecutives,GeneralManagersandLegislators 12 –FarmersandFarmManagers 13 –SpecialistManagers 21 -ArtsandMediaProfessionals 14 –Hospitality, RetailandServiceManagers 22 –Business,HumanResource andMarketing Professionals 23 –Design,Engineering,ScienceandTransport Professionals 24 –EducationProfessionals 25 –HealthProfessionals 31 –Engineering,ICTandScienceTechnicians 26 –ICTProfessionals 32 –AutomotiveandEngineeringTrades Workers 33 –ConstructionTrades Workers 34 –Electro-technology andTelecommunications Trades Workers 35 –FoodTrades Workers 36 –SkilledAnimalandHorticulturalWorkers 41 –HealthandWelfare SupportWorkers 39 –OtherTechnicians andTrades Workers 42 –Carers andAides 43 –HospitalityWorkers 44 –Protective ServiceWorkers 45 –Sportsand PersonalServiceWorkers Agency performance impacting theagency Significant issues 14,020 Actual 2016 Census 20,903 61,003 6,075 104,257 35,745 205,114 20,375 0 507,952 231,520 851,294 231,223 216,352 287,046 369,906 504,994 294,993 565,822 86,621 13,920 288,177 compliance Disclosures andlegal 14,745 Planned 2016 Target 28,188 105,795 - 54,036 42,190 358,219 25,248 8,475 509,124 166,743 762,319 296,829 262,876 252,526 376,607 509,291 245,098 635,310 80,382 26,000 284,295 95.08% Achievement 2016 Target 74.16% 57.75% 0.00% 192.94% 84.72% 57.26% 80.70% 0.00% 99.77% 138.85% 111.67% 77.90% 82.30% 113.67% 98.22% 99.16% 120.36% 89.06% 107.76% 53.54% 101.37% detailed inthe 2017FinancialStatements. based onthedeliverycosts (totalcostofservice)as the aggregate unitcostofdelivery outputperSCH, and trainingprograms. Theoverall costperSCHshows resources toenabletheprovision ofvocationaleducation with whichSouthMetropolitan TAFE managesits The overallcostperSCHdemonstratestheefficiency Curriculum Hour(SCH) KPI 5–DeliveryCostperStudent Table 5:(continued) 5. Clericaland Group Title ANZSCO Major 7. MachineryOperators 8. Labourers TOTAL G. GeneralEducation Workers Administrative and Drivers Overview oftheagency ANZSCO SubGroup Title 51 –Office ManagersandProgram Administrators 52 –PersonalAssistantsandSecretaries 53 –GeneralClericalWorkers 54 –InquiryClerksandReceptionists 55 –NumericalClerks 71 –MachineandStationaryPlantOperators 59 –OtherClericalandAdministrativeWorkers 72 –MobilePlantOperators 82 –ConstructionandMiningLabourers 74 –Store-persons 83 –FactoryProcess Workers 84 –Farm,Forestry andGarden Workers 85 –FoodPreparation Assistants GE –GeneralEducation 89 –OtherLabourers

Agency performance impacting theagency Significant issues Table 6–DeliveryCostperSCH Variance Target CostperSCH Actual CostperSCH 34,715 Actual 2016 Census 0 100,045 27,285 130,180 69,515 70,335 25,090 72,640 2,080 129,994 119,352 13,635 7,290,774 1,242,212 336,289 compliance Disclosures andlegal 2017 -$2.27 $16.16 $18.43 64,165 Planned 2016 Target 700 150,600 16,352 148,631 80,305 75,808 28,510 87,991 6,680 140,968 91,403 16,672 7,167,547 894,408 316,091

54.10% Achievement 2016 Target 0.00% 66.43% 166.86% 87.59% 86.56% 92.78% 88.00% 82.55% 31.14% 92.22% 130.58% 81.78% 101.73% 138.89% 106.39% SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 97 ANNUAL REPORT 2017 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 98 ANNUAL REPORT 2017 Policy Guidelinesfor PubliclyFundedRegistered Training • Vocational Educationand Training Regulations,1996 • Vocational Educationand Training Act,1996 • with therequirements ofthefollowing: Fees andcharges leviedby thecollegewere inaccordance for Training andWorkforce Development. services, otherthanforservicesprescribed bytheMinister 1996, thecollegemaydeterminefeesandcharges for Under theVocational EducationandTraining Regulations Pricing policiesforservicesprovided No suchdirectives were issuedtoSMTAFE. activities andfinancingactivities. of desired outcomesoroperationalobjectives,investment desired outcomesoroperational objectives,theachievement details ofanyministerialdirectives relevant tothesettingof Treasurer’s Instruction903 (12) requires SMTAFE todisclose revaluation decrement. resources andanunbudgetedsignificantlandbuildings 40 Estimatestarget duetoincreased costsofdepartmental The 2017actualunitcostofdeliveryisabovetheSection Non-profile deliveryin2017 was2,585,497SCH. non-profile delivery. Statements bythetotalSCHdelivered includingprofile and dividing thetotalcostofservicesasdefinedinFinancial Note: ThetotaldeliverycostperSCHiscalculatedby

OTHER FINANCIAL DISCLOSURES OTHER FINANCIALDISCLOSURES MINISTERIAL DIRECTIVES Organisations (RTO) Overview oftheagency Agency performance overview ofmajorcapitalworksispresented below. generated revenue contributions.An andStateGovernment SM TAFE’s capitalworksprogram wasfundedbyinternally CAPITAL WORKS end of2017 There were nomajorongoingcapitalworksprojects atthe Ongoing CapitalWorks The costoftheproject was$12million. Australian Centre forEnergy andProcess Training (ACEPT). process training,complementing deliverythrough the the college’s capacitytodeliverappliedengineeringand ACEPT Stage2consistsoftwonewbuildingsthatenhance ACEPT (Munster)Stage2 was $46.5million. academic andcorporatedirectorates. Thecostoftheproject Additionally, thebuildingprovides office accommodationfor services, generalclassrooms andotherstudentfacilities. training andeducationspacesforliveworks,student The newmulti-storyMurdoch facilityprovides specialist Murdoch DevelopmentStage4 Completed CapitalWorks impacting theagency Significant issues compliance Disclosures andlegal staff. SMTAFE’s staffing levelsbyemploymentcategoryfor2017ispresented below. which requires anequallydiverse andhighqualityworkforce. AsatDecember31,2017SMTAFE employed977FullTimeEquivalent(FTE) SM TAFE isalarge anddiverseorganisation delivering alarge numberofspecialistanduniquevocationaleducationtrainingservices, STAFF PROFILE Note (a)Thisamountwasrepaid onJanuary8,2018 The detailsasrequired byTreasurer’s Instruction903(iv)are set outbelow: card) isutilisedforpersonal use.In2017,7officers inadvertentlyusedanSMTAFE credit card forpersonaluse,tothevalueof$216.04. Agencies are required topublishdetailsofinstancesintheirannualreport where aWestern Purchasing AustralianGovernment Card (acredit UNAUTHORISED USEOFCREDITCARDS Lecturer GOSAC TOTAL Contract Permanent Contract Permanent Overview oftheagency Unauthorised useofcredit cards Full-time (FTE) 160 331 50 312 853 outstanding atbalancedate Aggregate amountofpersonaluseexpenditure after theperiod(afterfiveworkingdays) Aggregate amountofpersonaluseexpenditure settled by theduedate(withinfiveworkingdays) Aggregate amountofpersonaluseexpenditure settled Aggregate amountofpersonaluseexpenditure Agency performance Part-time (FTE) 27 39 7 51 124 2017 Total 187 370 57 363 977 impacting theagency Significant issues Full-time (FTE) 129 356 63 300 848 30.24 (a) 152.34 216.04 33.46 Part-time (FTE) 23 40 15 43 120 $ 2016 compliance Disclosures andlegal

Total 152 396 78 343 968 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH 99 ANNUAL REPORT 2017

100 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017 is basedonthenumberofemployeeswhoidentifiedthemselvesasbelongingtoadiversitygroup. The tablebelowcompares ourworkforce compositiontothepublicsectorworkforce inrelation todifferent equitygroups. Representation Act 1984.Notably, In2017SMTAFE wasnominatedasthe‘employerofyear’byadisabilityemploymentserviceprovider. work environment thatisinclusiveandfree from discriminationinaccordance withitsobligations underPartIXoftheEqualOpportunity SM TAFE continuestoworkcreate aworkforce thatmatchesthediversityinWestern Australiancommunity. SMTAFE promotes a Code ofConduct,grievanceprocedures andrecruitment processes. all people.Thisisanintegralpartofthecollege’s valuesandisreflected inourpolicies,programs andpersonnelpracticessuchasthe SM TAFE iscommittedtoensuringadiscriminationandharassmentfree workplace,andtopromoting equalemploymentopportunityfor EQUAL EMPLOYMENTOPPORTUNITY ANDDIVERSITY time injuries. There were 21claimsforworkerscompensationlodgedandacceptedinthe2017financialyear. Oftheacceptedclaims,11were lost WORKERS COMPENSATION Overview oftheagency representation Aboriginal people background representation People withculturallydiverse representation People withdisability Agency performance SM TAFE 1.6% 16.2% 2.4% impacting theagency Significant issues Sector WA Public 2.7% 12.9% 1.8% compliance Disclosures andlegal The individualandaggregate costofremunerating CouncilmembersatSMTAFE Governing in2017wasas follows: Councilremuneration Governing public interest disclosures during2017. the disclosure andanypersonaboutwhomthedisclosure ismade.SMTAFE hasthree PublicInterest Disclosure officers. There were no corruption orimproper conductwithintheWestern Australianpublicsector. Thelegislationprovides protections forthepersonraising The PublicInterest Disclosure Act2003facilitatesthedisclosure ofinformationinthepublicinterest aboutmattersofwrongdoing, Public interest disclosures officers, orentitiesinwhich seniorofficers haveanysubstantialinterests, hadanyinterest inexistingorproposed contractswithSMTAFE. In accordance withtherequirements ofTreasurer’s Instruction903(14),otherthannormalcontracts ofemploymentservice,nosenior Declarations ofinterests Position

Member Member Member Deputy Chair Member Member Member Chair GOVERNANCE DISCLOSURES Overview oftheagency Name Julie Quinlivan Fiona Lander Deborah Hamblin Stephen Cain Niegel Grazia Christine Coyne David Wood Elizabeth Carr Agency performance Type ofremuneration Per meeting Per meeting Per meeting Per meeting Per meeting Per meeting Per meeting Annual salary impacting theagency Significant issues Period ofmembership 8 months(resigned August) 10 months(resigned October) 5 months(commencedJuly) 12 months 12 months 12 months 12 months 12 months compliance Disclosures andlegal Gross remuneration $28,779.24 $22,665.24 $1,152.00 $1,152.00 $2,658.00 $384.00 $768.00 $0 $0

101 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017

102 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017 Expenditure wasincurred inthefollowingareas: polling, direct mailandmediaadvertisingorganisations. SM TAFE during2017inrelation toadvertising,market research, following isastatementofallexpenditure incurred by In accordance withSection175ZEoftheElectoralAct 1907,the Advertising expenditure organisations Direct mail organisations Polling organisations Market research agencies Advertising agencies advertising Media

OTHER LEGAL REQUIREMENTS OTHER LEGALREQUIREMENTS $81,816.61 Overview oftheagency $3179.55 Total Nil Nil Nil Nil Nil Nil Linkedin Google Facebook Ltd Australia Pty Carat Monitor Campaign Expenditure Agency performance $56,954.85 $14,358.82 $1383.38 $9119.56 $3179.55 Amount Nil Nil Nil

toward thecampaignisoutlined below: principal contractowner. SMTAFE’s financialcontribution shared across allcolleges,withSMTAFE beingthe training providers. Thefundingforthiscampaignwas SM TAFE ledasectorwidecampaignforallWA state TAFE Choicescampaign agencies advertising Media organisations Direct mail organisations Polling organisations Market research agencies Advertising impacting theagency Significant issues $8907.20 $1045.30 compliance Disclosures andlegal Total Nil Nil Nil Nil Nil Nil Pty Ltd Carat Australia Rare PtyLtd Expenditure $8907.20 $1045.30 Amount Nil Nil Nil Facilitiesstaff are represented onthe • Completionofupgradestothe • public authority the buildingsandotherfacilitiesofa opportunities asotherpeopletoaccess People withadisabilityhavethesame Informationandresources are available • TheDAIPCommitteeprovides guidance • organised by, apublicauthority access theservicesof,andanyevents opportunities asotherpeopleto People withadisabilityhavethesame accessible andinclusive. services, facilitiesandinformationare agency outcomestoensure SMTAFE’s outcomes andinitiativestoaddress the Inclusion Plan(DAIP).Outlinedbeloware strategies inourDisabilityAccessand throughout 2017thatsupported the Act 1993,SMTAFE implementedactions As required undertheDisabilityServices Plan Outcomes2017 Disability AccessandInclusion facilities access. and regular updates onbuildingand DAIP Committee,providing advice requirements. Murdoch campusestomeetlegislative accessible parkingbays atMunsterand ensure eventsare accessible. on theintranetsitetoassiststaff to and actionplanningkeyinitiatives and aforumforprogressing discussion Overview oftheagency Peoplewithdisability havean • complaints toapublic authority opportunities asotherpeopletomake People withadisabilityhavethesame Staff professional development • Theadditionofanaccessibilitycontent • of apublicauthorityasotherpeople level andqualityofservicefrom thestaff People withadisabilityreceive thesame Afocusontheimplementationand • ImplementationofaTraining Services • information asreadily asotherpeople format thatwillenablethemtoaccessthe information from apublicauthorityin People withadisabilityreceive Agency performance receive assistance toresolve issues. Advisors ina confidentialsettingand grievances withStudent Support and opportunity todiscussconcerns a disability:Whatlecturers need toknow. orientated sessionsentitledStudentswith including thedeliveryoffourlecturer- of theneedsstudentswithadisability, opportunities tobroaden understanding implemented Blackboard platform. designing accessiblecontentonthenewly intranet pagetoassistlecturers in webpage tothecollege’s e-learning services across allportfolioareas. delivery ofhighquality, sustainable training 1.7 oftheStandards forRTOs 2015. course commencementinlinewithstandard process toidentifystudent supportneedsat impacting theagency Significant issues Theprovision ofinformationandsupport • Thenumbersofemployeeswitha • authority. and maintainemploymentwithapublic opportunities asotherpeopletoobtain People withadisabilityhavethesame SMTAFE regularly engageswithagencies • Ongoinggeneralsurveyingofstudents, • by apublicauthority participate inanypublicconsultation opportunities asotherpeopleto People withadisabilityhavethesame StudentSupportAdvisorstoassist • compliance Disclosures andlegal people withadisability. to managersassistthem inemploying to informHRstrategiesandpractices. disclosed disabilityismonitored inorder and mentalhealthsupportservices. program, DisabilityEmployment Services on trainingmatterssuchastheNDIS that supportpeoplewithdisability surveys. and disabilitysupporteffectiveness surveys surveys, collegebasedlearner including statestudentsatisfaction face meetingsorhard copyforms. feedback submissionssuchasface-to- toonlinecomplaintand alternatives students withdisabilitytoaccess

103 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017

104 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017 Australian Code ofEthicsandtheCode ofConduct. Sector Standards inHumanResource Management, theWestern ensure agencyobligationsare met withrespect tothePublic SM TAFE haspolicies,procedures andguidelinesinplaceto and ethicalcodes Compliance withpublic sectorstandards One FOIrequest wasreceived duringthe2017reporting period. SM TAFE’s FOIInformation Statementisavailableonourwebsite. Freedom ofinformation the Act. program continuestomeetstaff needsandtherequirements of part oftheforthcomingrecords managementreview toensure the efficiency andeffectiveness of therecordkeeping trainingwillform of capturingsignificantbusinessandcorporaterecords. The or inaone-on-onesetting,lookingatthepracticalaspects In addition,trainingisregularly provided tostaff eitherformally Training. Plan. Allstaff are required tocompleteRecords Awareness responsibilities inregard tocompliancewiththeRecordkeeping SM TAFE’s inductionprocess, addressing staff roles and Records awareness trainingremains akeycomponentof new recordkeeping systemscheduledforimplementationin2018. Records Commissioninearly 2018.Inaddition,SMTAFE hasa sector iscurrently beingdevelopedforsubmissionto theState Reform Project. Aconsolidated Recordkeeping PlanfortheTAFE recordkeeping planforallTAFE collegesaftertheTraining Sector This wassubmittedtotheStateRecords Office asaninterim Recordkeeping Planasprescribed bytheStateRecords Act2000. required tohavearecordkeeping plan.SMTAFE hasanapproved Under theStateRecords agenciesare Act2000,allgovernment Recordkeeping plan Overview oftheagency Agency performance and theirimmediate family. communication breakdown. Thisfree service isavailabletoallstaff relationships, conflictwithothers,copingchange and adversely affect theirwellbeing, includinganxiety, depression, identify, explore andresolve workorpersonalproblems that may SM TAFE’s EmployeeAssistanceProgram isavailabletohelpstaff general senseofwellbeing. affect theirworkperformanceaswellqualityoflifeand experiencing work-related andpersonal orhealthproblems, itmay the importanceofcontributionitsstaff. Whenstaff are environment. Aspartofthiscommitment,thecollegevalues SM TAFE iscommittedtomaintainingasafeand healthy work Employee AssistanceProgram Code ofEthicsandtheSMTAFE CodeofConduct. compliance withthePublicSectorStandards, thePublicSector Act 1994,SMTAFE provides thefollowingstatements regarding In accordance withsection31(1)ofthePublicSector Management Integrity Training. the PublicSectorCommissionInstructionCodesofConductand all staff onAccountableandEthicalDecisionMaking inlinewith Directorate. Inaddition,SM TAFE continuestoprovide trainingfor throughout thecollege’s intranetsiteandbytheHumanResource These policiesandsupportingguidelinesare activelypromoted Compliance category SM TAFE CodeofConduct Public SectorCodeofEthics Human Resource Management Public SectorStandards in impacting theagency Significant issues compliance Disclosures andlegal Result 1 incidentupheld No breaches subsequently withdrawn 1 breach lodgedand adopted andimplemented. Australian PublicSector2007is Safety andHealthintheWestern Code ofPracticeonOccupational responsible forverifying thatthe managers andlineare its workplaces.SMTAFE’s senior by thedeliveryofitsservicesatall its employeesandothersaffected the safetyandhealthatworkofall far aspracticable,willprovide for Management Act1981.SMTAFE, as Workers CompensationandInjury Safety andHealthAct1984the and promotes theOccupational a safeworkplacethatadheres to SM TAFE iscommittedtopromoting and injurymanagement Occupational safety, health

REQUIREMENTS REQUIREMENTS GOVERNMENT POLICY Overview oftheagency provide informationandassistance. the OccupationalSafetyandHealthteamto matters, SMTAFE hasdedicatedstaff within To facilitateconsultationoninjurymanagement safety related policies. appropriate attentionaswellendorsing addressed atlocalcommitteelevelare given This Committeeensures mattersunabletobe the GeneralManagerCorporateServices. and HealthStandingCommitteechaired by SM TAFE alsohasanOccupationalSafety WorkSafe WA. mandatory trainingandare registered with representatives are provided with thefive-day undertake. Alloccupationalsafetyandhealth and healthrepresentatives andtherole they SM TAFE supportsitsoccupationalsafety reported accidents. review incidentandhazard reports alongwith meet bimonthlytoaddress localissues, management representatives. Thecommittees safety andhealthrepresentatives aswell campuses. Theywere comprisedof82elected In 2017,9Committeesrepresented themajor health committeesacross theorganisation. SM TAFE supportstheformationofsafetyand Mechanism forconsultation Act 1981.SMTAFE hasworked andwill Compensation andInjuryManagement management requirements oftheWorkers’ SM TAFE supportsandpromotes theinjury management requirements Compliance withinjury Agency performance

impacting theagency Significant issues best practicestandards. college’s safetystrategymeets industry against theWorkSafe Plantoensure the be undertakentoassess theorganisation organisation. Anindependent auditwill and procedures whichcoverthe entire this process provide uptodate policies sites inthefieldofsafetyandaspart ensure uniformityisappliedacross all Safety andHealthteamwillcontinueto are achieved.TheSMTAFE Occupational organisation toensure safetyoutcomes senior managementlevelexistsacross the committees atboththeworksiteand environment. Arobust systemofsafety a highlevelofsafetywithinthework SM TAFE iscommittedtomaintaining Management System Occupational SafetyandHealth effectively manageclaims. and determinethebestcourseofactionto closely withRiskCovertominimiseclaims pre-injury role. SMTAFE continuestowork given totheemployeereturn totheir aim istoensure thateveryopportunityis In themanagementofclaims,SMTAFE’s successfully aspossible. return totheworkplaceasquicklyand strategies thatensure injured employees to developandmanagereturn towork and vocationalrehabilitation providers continue toworkcloselywithourinsurer compliance Disclosures andlegal

105 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017

106 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017

• • • Note: Measure responsibilities and injurymanagement occupational safety, health and supervisorstrainedin Percentage ofmanagers Number offatalities incidence rate Lost timeinjuryand/ordisease severity rate Lost timeinjury (ii) 26weeks (i) 13weeksand work within workers returned to Percentage ofinjured lost from work)dividedbythenumberoflosttime injury/diseaseclaimsmultipliedby100. Lost timeinjuryseverity rate:Thelosttimeinjuryseverity rateisthenumberofsevere injuries(over60days injury/disease claimslodged,dividedbythenumber ofemployees(FTE)andmultipliedby100 Lost timeinjury/diseaseincidencerate:Thelostrateisthe numberoflosttime Fatalities: numberofcompensatedworkrelated fatalities Overview oftheagency Actual results 2016 (ii) 100% 0 0.57 25 (i) 100% 2017 (ii) 100% 0 0.96 18 (i) 85% Agency performance Results againsttargets Target (ii) 26weeks (i) 13weeksand to workwithin equal to80%return Greater thanor Zero (0) the previous year Zero (0)or10%reduction on the previous year Zero (0)or10%reduction on (ii) 26weeks (i) 13weeksand to workwithin equal to80%return Greater thanor impacting theagency Significant issues Target achieved Comment onResult calendar year. re-commence inthe2018 and supervisorswill The trainingofmanagers Target achieved amalgamation. until Decemberduetothe 2016 figures were from April attributed tothefactthat 2016 figures whichcanbe There isanincrease onthe Target achieved compliance Disclosures andlegal Section 40estimatesfor2018 year are hereby includedintheAnnualReport.Theseestimatesdonotformpartoffinancialstatementsandare notsubjecttoaudit. In accordance withsection40oftheFinancialManagementAct2006andTreasurer’s Instruction953theannualestimatesfor2018financial TOTAL COMPREHENSIVE DEFICITFORTHE PERIOD DEFICIT FORTHEPERIOD Total incomefromStateGovernment Services receivedfreeofcharge Service appropriation INCOME FROMSTATEGOVERNMENT NET COSTOFSERVICES Total incomeotherthanfromStateGovernment Total revenue Other revenue Interest revenue Sales Ancillary trading Student feesandcharges Fee forservice Revenue Income Total costofservices Other expenses Charges toprovisions Cost ofsales Grants andsubsidies Depreciation andamortisationexpense Supplies andservices Employee benefitsexpense Expenses COST OFSERVICES STATEMENT OFCOMPREHENSIVEINCOME South MetropolitanTAFE Overview oftheagency Agency performance

Estimate impacting theagency Significant issues 2018

102,141,584 110,310,997 172,037,465 121,040,235 $

97,966,000 61,726,468 61,726,468 26,705,374 28,951,094 10,382,189 31,141,741

(8,169,413) (8,169,413)

4,175,584 3,294,996 1,150,000 1,600,004 8,523,300

500,000 200,000 250,000

25,000 compliance Disclosures andlegal

107 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017

108 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017 NET ASSETS TOTAL LIABILITIES Total Non-CurrentLiabilities Provisions Non-Current Liabilities Total CurrentLiabilities Other currentliabilities Provisions Payables Current Liabilities LIABILITIES TOTAL ASSETS Total Non-CurrentAssets Property, plantandequipment Restricted cashandequivalents Non-Current Assets Total CurrentAssets Other currentassets Receivables Inventories Cash andcashequivalents Current Assets ASSETS STATEMENT OFFINANCIALPOSITION South MetropolitanTAFE TOTAL EQUITY Accumulated deficit Contributed equity EQUITY Overview oftheagency Agency performance

Estimate impacting theagency Significant issues 2018

355,784,497 380,086,406 355,784,497 389,891,381 347,350,417 346,332,720

(24,301,909) $

34,106,884 29,316,884 21,251,000 42,540,964 35,746,481

4,790,000 4,790,000 4,977,784 3,088,100 1,017,697 3,041,288 3,734,831

18,364 compliance Disclosures andlegal Supplies andservices CASH ANDEQUIVALENTS ATTHEENDOFPERIOD Cash andcashequivalentsatthebeginningofperiod Net increaseincashandequivalents Net cashusedininvestingactivities Purchase ofnon-currentphysicalassets Payments Net cashusedinoperatingactivities Other receipts Interest received Ancillary trading Student feesandcharges Fee forservice Receipts Other payments Grants andsubsidies Employee benefits Payments CASH FLOWSFROMOPERATINGACTIVITIES Utilised asfollows: Net cashprovidedbyStateGovernment Service appropriation-DepartmentofTrainingandWorkforceDevelopment CASH FLOWSFROMSTATEGOVERNMENT STATEMENT OFCASHFLOWS South MetropolitanTAFE CASH FLOWSFROMINVESTINGACTIVITIES Overview oftheagency Agency performance

Estimate impacting theagency Significant issues

(118,523,764) 2018

(93,916,863) (27,097,414) $

42,264,178 42,173,944 26,566,417 29,000,083 97,967,097 97,967,097

(3,960,000) (9,682,185) (3,960,000)

3,319,996 1,150,000 1,600,004

(250,000) 90,234 compliance Disclosures andlegal

109 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017

110 SOUTH METROPOLITAN TAFE METROPOLITAN SOUTH ANNUAL REPORT 2017 NOTES

South Metropolitan TAFE 1 Fleet Street, Fremantle Western Australia 6160 PHONE: 1800 001 001 EMAIL: [email protected] WEB: southmetrotafe.wa.edu.au

SM TAFE RTO: 52787 southmetrotafe.wa.edu.au SMT001/18