Financial Information

Brisbane Boys’ College operates independently and the School Council, Headmaster and Business Manager manage the school’s financial accounts, budget and performance. Brisbane Boys’ College has independent income, bank accounts, expenditure, and targets. These are separate and distinct from the other PMSA schools.

All income that Brisbane Boys’ College receives from fees, donations, government grants and any other source is used entirely to operate and develop Brisbane Boys’ College. No funds are shared, cross subsidised or transferred between any PMSA schools.

Although operated independently, Brisbane Boys’ College is owned by the PMSA and is a part of a single legal entity which is the PMSA. As a part of the PMSA Group, Brisbane Boys’ College’s financial accounts and financial statements are prepared by the school’s Business Manager, and presented to and ratified by the PMSA’s Audit, Finance & Risk Committee. These are independently audited by KPMG and then consolidated into the PMSA Group special purpose financial statements. The PMSA’s audited financial statements are prepared in accordance with Australian Accounting Standards and include accounting policies. They comply with Association Incorporations Act 1981, Australian Education Act 2013, Education (Accreditation of Non-State Schools) Act 2017, and Australian Charities and Not-for-profits Commission (ACNC) Act 2012.

These audited financial statements are publicly available on the PMSA website as well as on the ACNC registry. Accounting policies are published in these accounts.

The PMSA works to ensure that the Group performance is achieved and optimised through a range of defined oversight and governance processes. Each year, PMSA schools pay an amount to the PMSA to cover PMSA Group Office costs incurred in governing the schools as well as collective expenses for insurance premiums, auditing, professional development and training, and compliance; and other consolidated costs for each of the schools.

Further details of the College’s finances may be found on the My School website: www.myschool.edu.au

TUITION FEES COMMONWEALTH RECURRENT GRANTS STATE RECURRENT GRANTS BOARDING FEES OTHER INCOME DONATIONS RECEIVED 73% 12% 7% 6% 2% 0%

STAFF SALARIES DEPRECIATION ACADEMIC COSTS ADMINISTRATION COSTS MAINTENANCE FINANCING COSTS BOARDING COSTS 65% 9% 9% 6% 7% 2% 2%