Rockhampton Girls Grammar posts strongest profit since 2015
Rockhampton Girls Grammar School (RGGS) posted its strongest profit last year since 2015, thanks to $1.1 million in funding from JobKeeper.
The RGGS 2020 annual report and financial statements were tabled recently at Queensland Parliament and revealed the school profited $1.2 million.
It is the first report under new principal Deanne Johnston, who has just completed her first year at the school.
The private school had a total of 290 students in 2020 with 87 boarders and 203 day students.
Of these, 83 students were in years prep to six and 207 were in years seven to 12.
The school supported 26.5 teaching staff, 17.7 non-teaching staff and seven boarding staff.
The report stated Commonwealth Grants made up most of the school's operating income in 2020.
There was a significant loss of boarding revenue in term two due to the compulsory temporary closure of boarding houses during COVID-19.
Fundraising and donation income was also reduced as many events had to be cancelled.
This loss of revenue was able to be compensated through JobKeeper funding, increased student numbers throughout the year and other cost savings during the year.
RGGS received $1,116,000 from JobKeeper and a COVID-19 cash flow boost of $100,000.
"Like any eligible organisation that applied for the JobKeeper Payment program, Rockhampton Girls Grammar School was required to meet relevant government eligibility requirements regarding employees and turnover," Ms Johnston said.
"Rockhampton Girls Grammar School experienced a drop in revenue as a result of factors such as the loss of international students and boarders and a reduction in facilities hire due to the cancellation of events.
"The purpose of the JobKeeper program was to keep as many Queenslanders employed as possible.
"Through the JobKeeper funds, Girls Grammar was able to ensure that all staff, both teaching and non-teaching, maintained their employment during a period of significant anxiety and upheaval.
"Continuity of staff ensured we were able to provide a quality online learning and pastoral environment throughout the learning from home period, which lasted more than 10 weeks for some of our day and boarding students."
The school received $2.5 million in school fees and paid $5 million in wages with the principal earning a salary of $249,111.
The school's main operating expense each year is related to staff costs.
Staff salary and wages increased by 2.5 per cent as of July 1, 2020, under a new agreement that was negotiated throughout 2020.
The operating profit position for 2020 is $1.248 million, the strongest profit result for the school since 2015.
Factors that continue to affect the school's financial position include wage increases, rising overhead costs, unpredictability of student enrolments, families' financial circumstances and ability to afford private education and increasing competition from state, Catholic and independent schools.
The school hopes to gain additional revenue through the rental of school facilities.
"There are many twists and turns along a school journey, but this year the universe threw us a major curve," RGGS Board of Trustees chairperson Jennifer Luck wrote in the report.
"As the coronavirus pandemic took hold, our teachers and students had to adjust to new ways of learning.
"Our principal, Mrs Deanne Johnston …. has displayed strong leadership and has put her stamp quite firmly on Girls Grammar.
"Deanne takes a progressive approach to education and displays an infectious enthusiasm that is evident through the attitude of her staff and the excitement of the students."
Future plans for RGGS include:
- Construction of a new multipurpose covered court
- Refurbishment of the pool precinct including the pool change rooms
- Further classroom upgrades
- Renovations to Jackson House, the junior boarding facility
- Construction of a new parking and drop off facility for the primary school
- Replacement of the Health Centre with a Health and Wellbeing Centre
- Upgrade of the current sports field area
- Restoration work for the heritage listed Paterson House and precinct
- Security system upgrade
- Internet network upgrade
KEY FINANCIAL RESULTS:
- Tuition fees: $2,570,413
- Boarding fees: 1,184,749
- Donations: $13,449
- Grant income and other contributions: $5,346,179
- Other income: $584,423
- Total income: $9,699,213
- Outside of school hours care fees: $58,261
- School shop: $37,635
- Instrumental music: $62,186
- Rent received: $14,316
- Student charges: $165,394
- Application and enrolment fees: $27,440
- Wages and salaries: $5,032,209
- Total employee expenses (includes superannuation, leave and workers compensation): $5,570,598
- Principal salary: $249,111
- Head of boarding: $122,082
- Deputy principal - students: $149,271
- Deputy principal - studies: $146,146
Boarding supplies and services:
- Catering: $402,144
- Kitchen expenses: 8,840
- Security: $15,843
- Laundry: $13,182
- Other: $16,174
- Total: $456,182