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WE LTEC ANNUAL REPORT 2015

STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 December 2015

GROUP

Note

PARENT

2015 Actual

2015 Budget

2014 Actual

2015 Actual

2015 Budget

2014 Actual

$000

$000

$000

$000

$000

$000

Revenue Revenue from non-exchange transactions Government funding

2

28,000

30,565

28,627

28,000

30,565

28,627

Tuition funding

3

10,212

12,743

10,853

10,212

12,743

10,853

Tuition funding

4

8,600

6,819

6,582

8,556

6,819

6,582

Other teaching

5

3,918

3,139

3,655

3,918

3,139

3,655

Other income

6

5,705

5,698

5,090

2,703

2,602

2,322

431

258

699

423

258

699

56,866

59,222

55,506

53,812

56,126

52,738

31,049

31,998

30,928

30,676

31,709

30,573

4,558

4,530

3,711

4,458

4,501

3,679

Revenue from exchange transactions

Interest and dividend income Total operating income Cost of services Personnel

7

Teaching delivery Administration

8

7,154

7,330

7,054

6,961

7,110

6,891

Infrastructure

9

8,946

8,594

8,582

6,158

6,053

6,022

Depreciation and amortisation

10

Total cost of services Operating profit Non operating items (expense)

11

Share of jointly controlled entities (loss)

14

Profit

3,945

4,695

4,080

3,921

4,695

4,061

55,652

57,147

54,355

52,174

54,068

51,226

1,214

2,075

1,151

1,638

2,058

1,512

(204)

-

(852)

(450)

-

(852)

145

-

-

-

-

-

1,155

2,075

299

1,188

2,058

660

2,837

-

1,192

2,837

-

1,192

Other comprehensive revenue and expenditure Movement in property revaluation reserve

24

Movement in plant revaluation reserve

24

Total comprehensive revenue and expenditure The accompanying notes form part of these financial statements

48

(18)

-

(79)

(18)

-

(79)

3,974

2,075

1,412

4,007

2,058

1,773


2015 WelTec Annual Report