[Busmanagers] Balance Sheet

[Brophy, Marjorie J]

HI Jenny

The following is a reply from Rita Gauci:

 

Regarding buildings and other assets like swimming pools, these assets
are government owned (by virtue of the fact they are erected on crown
land) and are therefore part of the whole of government assets
regardless of how they were financed.  This is why there is no chart of
accounts code on CASES21Finance for setting them up as assets.  The
maintenance and upkeep, however, is recorded on C21F which may cause an
anomaly in their reporting.  Where a school is in this situation, it is
advisable to add a note to the Operating Statement and Balance Sheet to
explain to school council this anomaly.  Often funding in the form of a
grant/s is received by the school for maintenance, so the revenue is
recognised along with the expenditure but no asset as such is visible on
the balance sheet.

 

 

 

Marje Brophy

Business Manager

Korumburra Secondary College

5655 -1566

 

________________________________

From: busmanagers-bounces at edulists.com.au
[mailto:busmanagers-bounces at edulists.com.au] On Behalf Of Thomas, Jenny
M
Sent: Tuesday, 13 March 2007 9:17 AM
To: Business Managers' Mailing List
Subject: [Busmanagers] Balance Sheet

 

Good Morning all,

 

I have had a query from our School Council Treasurer as to why out new
basketball stadium (paid for by school) does not appear on the balance
sheet.   My understanding was that the Department is not interested in
school buildings as such.

 

Jenny Thomas

Business Manager

Serpell Primary School

9842 8182

Important - This email and any attachments may be confidential. If
received in error, please contact us and delete all copies. Before
opening or using attachments check them for viruses and defects.
Regardless of any loss, damage or consequence, whether caused by the
negligence of the sender or not, resulting directly or indirectly from
the use of any attached files our liability is limited to resupplying
any affected attachments. Any representations or opinions expressed are
those of the individual sender, and not necessarily those of the
Department of Education.


Important - This email and any attachments may be confidential. If received=
 in error, please contact us and delete all copies. Before opening or using=
 attachments check them for viruses and defects. Regardless of any loss, dam=
age or consequence, whether caused by the negligence of the sender or not, r=
esulting directly or indirectly from the use of any attached files our liabi=
lity is limited to resupplying any affected attachments. Any representations=
 or opinions expressed are those of the individual sender, and not necessari=
ly those of the Department of Education.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://www.edulists.com.au/pipermail/busmanagers/attachments/20070313/58c73259/attachment.html