TasTAFE is a Statutory Authority established by the Training and Workforce Development Act 2013. Governed by a Board of Directors, TasTAFE is the single public sector entity responsible for post compulsory Vocational Education and Training in Tasmania. Through its status as a registered training organisation with the Australian Skills Quality Authority, its role is to enable Tasmanians to gain skills and qualifications needed for the State’s workforce and to support the community to succeed and prosper.
TasTAFE is the largest public vocational education and training provider in Tasmania, providing the majority of vocational training for Tasmanian businesses. TasTAFE operates in the contestable training market in Tasmania and in the commercial international student market. It services the training needs of individual learners as well as providing training and workforce skills development services to Tasmanian employers and their employees.
The scope of training provided by TasTAFE aims to support the economic and policy priorities of the Tasmanian Government, business and industry, is informed by the Minister’s annual policy expectations and covers the major vocational occupations represented in the Tasmanian economy including trades, health and community services, and tourism and hospitality.
Training is conducted statewide at TasTAFE facilities in Hobart, Clarence, Claremont, Launceston, Alanvale, Devonport and Burnie; in Trade Training Centres; regional locations; workplaces across the State; and remotely.
The Government will introduce legislation in the 2021 Spring Session of Parliament to establish TasTAFE as a new not for profit government business that provides vocational education and training that benefits the Tasmanian economy, builds the productivity of the Tasmanian workforce and provides effective pathways for students into work.
The TasTAFE Board is accountable to the Minister for Skills, Training and Workforce Growth, Hon Sarah Courtney MP.
This chapter provides financial information for TasTAFE for 2021‑22 and over the Forward Estimates (2022‑23 to 2024‑25). Further information on TasTAFE is provided at www.tastafe.tas.edu.au.
Table 27.1 provides a summary of the Budget and Forward Estimates allocations for key deliverables being undertaken by the Authority.
|
|
2021‑22
Budget |
2022‑23 Forward Estimate |
2023‑24 Forward Estimate |
2024‑25 Forward Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
|
Election Commitments |
|
|
|
|
|
100 Extra TasTAFE Teachers |
3 800 |
7 500 |
11 300 |
15 000 |
|
Regional TAFE Virtual campus |
2 000 |
8 000 |
.... |
.... |
|
Skill Up! |
500 |
500 |
500 |
500 |
|
TasTAFE and Libraries Tasmania |
2 000 |
2 000 |
.... |
.... |
|
TasTAFE Facility Upgrades and Transition Fund |
11 250 |
11 250 |
11 250 |
11 250 |
|
|
|
|
|
|
This initiative will deliver 100 additional TasTAFE teachers statewide over four years to help ensure young Tasmanians can be trained to meet the needs of industry and business.
This initiative will deliver the TasTAFE Virtual Campus, a hybrid learning model that provides a blend of remotely facilitated training, practical, on‑campus experiences and 24‑hour access to digital content and learning activities.
This initiative will expand the Skill Up! Program. The Program provides fee free short courses to assist Tasmanians to boost their job ready skills, and to prepare students to undertake further study in pre‑vocational or apprenticeship level courses.
TasTAFE is working with Libraries Tasmania to increase access to TAFE courses for rural and remote students. This initiative will identify suitable Libraries Tasmania sites across the State to house a virtual TasTAFE campus presence, to allow students to access online learning, and also participate in TasTAFE classroom activities remotely.
This initiative will deliver a range of improvements to TasTAFE across the State including new student accommodation in Burnie and Clarence, major upgrades to campuses at Alanvale, Burnie and Devonport, and equipment upgrades to ensure students are learning on contemporary equipment.
This initiative also includes the creation of a Regional TAFE Facilities Development and Transition Fund to invest in additional upgrades to increase access for regional and rural students and to support the transition to the new TasTAFE model.
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
2024‑25 |
|
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
|
Revenue and other income |
|
|
|
|
|
|
Grants1 |
95 337 |
113 357 |
114 184 |
110 775 |
116 668 |
|
Sales of goods and services |
18 368 |
24 750 |
27 570 |
28 201 |
28 810 |
|
Interest2 |
47 |
66 |
29 |
7 |
9 |
|
Total revenue |
113 752 |
138 173 |
141 783 |
138 983 |
145 487 |
|
Total income |
113 752 |
138 173 |
141 783 |
138 983 |
145 487 |
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
|
Employee benefits3 |
81 829 |
88 259 |
89 899 |
97 118 |
102 792 |
|
Depreciation and amortisation |
8 410 |
9 767 |
9 356 |
9 356 |
9 356 |
|
Supplies and consumables4 |
26 652 |
36 050 |
40 182 |
30 776 |
31 381 |
|
Total expenses |
116 891 |
134 076 |
139 437 |
137 250 |
143 529 |
|
|
|
|
|
|
|
|
Net result |
(3 139) |
4 097 |
2 346 |
1 733 |
1 958 |
|
|
|
|
|
|
|
|
Comprehensive result |
(3 139) |
4 097 |
2 346 |
1 733 |
1 958 |
|
|
|
|
|
|
|
Notes:
1. The increase in Grants in 2021‑22 and over the Forward Estimates reflects funding for 2021 election commitments.
2. The variation in Interest reflects lower cash balances.
3. The increase in Employee benefits reflects additional expenditure for the 100 Extra TasTAFE Teachers election commitment.
4. The decrease in Supplies and consumables in 2023-24 reflects the completion of the Regional TAFE Virtual Campus and TasTAFE and Libraries Tasmania initiatives.
|
|
2021 |
2022 |
2023 |
2024 |
2025 |
|
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Financial assets |
|
|
|
|
|
|
Cash and deposits1 |
11 874 |
9 715 |
2 272 |
3 115 |
4 243 |
|
Receivables |
7 814 |
5 765 |
4 765 |
4 265 |
4 015 |
|
Other financial assets2 |
.... |
1 852 |
1 774 |
1 695 |
1 614 |
|
|
19 688 |
17 332 |
8 811 |
9 075 |
9 872 |
|
|
|
|
|
|
|
|
Non‑financial assets |
|
|
|
|
|
|
Property, plant and equipment3 |
165 959 |
170 823 |
180 716 |
182 609 |
184 503 |
|
Heritage and cultural assets |
27 |
21 |
21 |
21 |
21 |
|
Intangibles4 |
611 |
.... |
.... |
.... |
.... |
|
|
166 597 |
170 844 |
180 737 |
182 630 |
184 524 |
|
|
|
|
|
|
|
|
Total assets |
186 285 |
188 176 |
189 548 |
191 705 |
194 396 |
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
Payables |
2 368 |
1 468 |
1 368 |
1 218 |
1 468 |
|
Employee benefits |
17 473 |
17 924 |
16 800 |
17 174 |
17 557 |
|
Other liabilities5 |
7 500 |
2 749 |
2 999 |
3 199 |
3 299 |
|
Total liabilities |
27 341 |
22 141 |
21 167 |
21 591 |
22 324 |
|
|
|
|
|
|
|
|
Net assets (liabilities) |
158 944 |
166 035 |
168 381 |
170 114 |
172 072 |
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
Contributed capital |
227 033 |
224 589 |
224 589 |
224 589 |
224 589 |
|
Reserves |
18 452 |
23 732 |
23 732 |
23 732 |
23 732 |
|
Accumulated funds |
(86 541) |
(82 286) |
(79 940) |
(78 207) |
(76 249) |
|
Total equity |
158 944 |
166 035 |
168 381 |
170 114 |
172 072 |
|
|
|
|
|
|
|
Notes:
1. The decrease in Cash and deposits in 2023 reflects the timing of asset purchases.
2. The variation in Other financial assets relates to revenue earned but not yet received and for prepayments on IT software and maintenance contracts not previously separately budgeted.
3. The variation in Property, plant and equipment reflects additional investment as part of the TasTAFE Facility Upgrades and Transition Fund election commitment and the anticipated sale of Launceston City campus properties.
4. The decrease in Intangibles in 2022 reflects the Student Management System being fully amortised.
5. The variation in Other liabilities reflects an advance from the Department of Education in 2021, and its repayment in 2022.
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
2024‑25 |
|
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
Cash inflows |
|
|
|
|
|
|
Grants |
95 337 |
113 357 |
114 184 |
110 775 |
116 668 |
|
Sales of goods and services |
17 998 |
22 650 |
25 470 |
25 601 |
25 960 |
|
GST receipts |
4 728 |
4 801 |
3 994 |
3 252 |
3 314 |
|
Interest received |
47 |
66 |
29 |
7 |
9 |
|
Total cash inflows |
118 110 |
140 874 |
143 677 |
139 635 |
145 951 |
|
|
|
|
|
|
|
|
Cash outflows |
|
|
|
|
|
|
Employee benefits |
(72 735) |
(77 623) |
(80 765) |
(86 250) |
(91 675) |
|
Superannuation |
(9 094) |
(10 335) |
(10 257) |
(10 493) |
(10 734) |
|
GST payments |
(4 874) |
(4 950) |
(3 916) |
(3 173) |
(3 233) |
|
Supplies and consumables |
(27 552) |
(33 600) |
(36 932) |
(27 626) |
(27 931) |
|
Total cash outflows |
(114 255) |
(126 508) |
(131 870) |
(127 542) |
(133 573) |
|
|
|
|
|
|
|
|
Net cash from (used by) operating activities |
3 855 |
14 366 |
11 807 |
12 093 |
12 378 |
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
Payments for acquisition of non‑financial assets |
(15 492) |
(29 110) |
(19 250) |
(11 250) |
(11 250) |
|
Proceeds from the disposal of non‑financial assets1 |
.... |
7 500 |
.... |
.... |
.... |
|
Net cash from (used by) investing activities |
(15 492) |
(21 610) |
(19 250) |
(11 250) |
(11 250) |
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
Net borrowings2 |
.... |
(5 000) |
.... |
.... |
.... |
|
Net cash from (used by) financing activities |
.... |
(5 000) |
.... |
.... |
.... |
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents held |
(11 637) |
(12 244) |
(7 443) |
843 |
1 128 |
|
|
|
|
|
|
|
|
Cash and deposits at the beginning of the reporting period |
23 511 |
21 959 |
9 715 |
2 272 |
3 115 |
|
Cash and deposits at the end of the reporting period |
11 874 |
9 715 |
2 272 |
3 115 |
4 243 |
|
|
|
|
|
|
|
Notes:
1. Proceeds from the disposal of non‑financial assets relates to the anticipated sale of Launceston City campus properties.
2. The variation in Net borrowings reflects the repayment of an advance to the Department of Education.