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 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. It 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, Devonport and Burnie. Training occurs in Trade Training Centres, regional locations, workplaces across the State and remotely.
The TasTAFE (Skills and Training Business) Act 2021, anticipated to be proclaimed to commence on 1 July 2022, provides for the continuation of TasTAFE as an organisation to provide vocational education and training that benefits the Tasmanian community by contributing to the Tasmanian economy and providing skilled workers for the Tasmanian workforce. The Act supports a new business model for TasTAFE that has been designed from the ground up to best suit the role and functions of the organisation and Tasmanian industry. The transition date to the new model is 1 July 2022.
The TasTAFE Board is accountable to the Minister for Skills, Training and Workforce Growth, Hon Roger Jaensch MP.
This chapter provides financial information for TasTAFE for 2022‑23 and over the Forward Estimates (2023‑24 to 2025‑26). Further information on TasTAFE is provided at www.tastafe.tas.edu.au.
Table 28.1 provides a summary of the Budget and Forward Estimates allocations for key deliverables being undertaken by the Authority.
|
|
2022‑23
Budget |
2023‑24 Forward Estimate |
2024‑25 Forward Estimate |
2025‑26 Forward Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
COVID‑19 ‑ Infrastructure Improvements |
3 000 |
.... |
.... |
.... |
|
Support for students and additional TasTAFE teachers |
2 043 |
2 600 |
1 200 |
1 200 |
|
Virtual Campus/Student Management System Business Case |
500 |
.... |
.... |
.... |
|
Water and Energy Trades Centre of Excellence |
5 000 |
.... |
.... |
.... |
|
|
|
|
|
|
This initiative will enable TasTAFE to undertake improvements to ventilation and air quality across its facilities in response to COVID‑19.
This initiative provides funding support for the 100 additional TasTAFE teachers committed in the 2021‑22 Budget and associated services.
Funding is provided to develop a robust business case for further investment in the Virtual Campus initiative and TasTAFE’s Student Management System.
Additional funding is provided in 2022‑23 to enable the successful completion of the development of a Water and Energy Trades Centre of Excellence based at TasTAFE’s Clarence campus. This is in addition to $14 million already committed by the State Government and $7 million by the Australian Government.
|
|
2021‑22 |
2022‑23 |
2023‑24 |
2024‑25 |
2025‑26 |
|
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
|
Revenue and other income |
|
|
|
|
|
|
Grants1 |
113 357 |
124 527 |
113 375 |
118 026 |
109 982 |
|
Sales of goods and services |
24 750 |
26 151 |
28 409 |
30 602 |
31 762 |
|
Interest2 |
66 |
29 |
7 |
9 |
9 |
|
Total revenue |
138 173 |
150 707 |
141 791 |
148 637 |
141 753 |
|
Total income |
138 173 |
150 707 |
141 791 |
148 637 |
141 753 |
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
|
Employee benefits3 |
88 259 |
91 907 |
99 263 |
104 482 |
105 338 |
|
Depreciation and amortisation |
9 767 |
11 415 |
11 678 |
11 993 |
12 283 |
|
Supplies and consumables4 |
36 050 |
46 482 |
34 776 |
33 381 |
31 591 |
|
Total expenses |
134 076 |
149 804 |
145 717 |
149 856 |
149 212 |
|
|
|
|
|
|
|
|
Net result |
4 097 |
903 |
(3 926) |
(1 219) |
(7 459) |
|
|
|
|
|
|
|
|
Comprehensive result |
4 097 |
903 |
(3 926) |
(1 219) |
(7 459) |
|
|
|
|
|
|
|
Notes:
1. The variation in Grants reflects additional funding for 2022‑23 Budget initiatives.
2. The variation in Interest reflects lower cash balances.
3. The increase in Employee Benefits over the 2022‑23 Budget and Forward Estimates reflects increased costs associated with the additional 100 TasTAFE teachers provided for in the 2021‑22 Budget.
4. The variation in Supplies and consumables reflects timing of expenditure for the Regional TAFE Virtual Campus and TasTAFE and Libraries Tasmania initiatives.
|
|
2022 |
2023 |
2024 |
2025 |
2026 |
|
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Financial assets |
|
|
|
|
|
|
Cash and deposits1 |
9 715 |
25 146 |
14 204 |
15 280 |
9 372 |
|
Receivables |
5 765 |
4 829 |
4 226 |
3 867 |
3 911 |
|
Other financial assets |
1 852 |
1 704 |
1 704 |
1 704 |
1 704 |
|
|
17 332 |
31 679 |
20 134 |
20 851 |
14 987 |
|
|
|
|
|
|
|
|
Non‑financial assets |
|
|
|
|
|
|
Property, plant and equipment2 |
170 823 |
232 859 |
241 180 |
241 189 |
239 907 |
|
Heritage and cultural assets |
21 |
28 |
28 |
28 |
28 |
|
|
170 844 |
232 887 |
241 208 |
241 217 |
239 935 |
|
|
|
|
|
|
|
|
Total assets |
188 176 |
264 566 |
261 342 |
262 068 |
254 922 |
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
Payables |
1 468 |
1 368 |
1 218 |
1 468 |
1 668 |
|
Employee benefits |
17 924 |
21 653 |
22 305 |
23 900 |
24 013 |
|
Other liabilities |
2 749 |
3 000 |
3 200 |
3 300 |
3 300 |
|
Total liabilities |
22 141 |
26 021 |
26 723 |
28 668 |
28 981 |
|
|
|
|
|
|
|
|
Net assets (liabilities) |
166 035 |
238 545 |
234 619 |
233 400 |
225 941 |
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
Contributed capital |
224 589 |
224 589 |
224 589 |
224 589 |
224 589 |
|
Reserves2 |
23 732 |
91 763 |
91 763 |
91 763 |
91 763 |
|
Accumulated funds |
(82 286) |
(77 807) |
(81 733) |
(82 952) |
(90 411) |
|
Total equity |
166 035 |
238 545 |
234 619 |
233 400 |
225 941 |
|
|
|
|
|
|
|
Notes:
1. The variation in Cash and deposits reflects the timing of asset purchases.
2. The variation in Property, plant and equipment and Reserves primarily reflects the revaluation of TasTAFE’s land and buildings in 2020‑21, additional investment as part of the TasTAFE Facility Upgrades and Transition Fund and the sale of Launceston City campus properties.
|
|
2021‑22 |
2022‑23 |
2023‑24 |
2024‑25 |
2025‑26 |
|
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Budget |
Estimate |
Estimate |
Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
Cash inflows |
|
|
|
|
|
|
Grants |
113 357 |
124 527 |
113 375 |
118 026 |
109 982 |
|
Sales of goods and services |
22 650 |
24 651 |
26 209 |
27 952 |
28 512 |
|
GST receipts |
4 801 |
5 988 |
4 262 |
4 415 |
4 353 |
|
Interest received |
66 |
29 |
7 |
9 |
9 |
|
Total cash inflows |
140 874 |
155 195 |
143 853 |
150 402 |
142 856 |
|
|
|
|
|
|
|
|
Cash outflows |
|
|
|
|
|
|
Employee benefits |
(77 623) |
(81 270) |
(86 820) |
(90 399) |
(92 451) |
|
Superannuation |
(10 335) |
(11 092) |
(11 791) |
(12 488) |
(12 775) |
|
GST payments |
(4 950) |
(5 870) |
(4 158) |
(4 308) |
(4 247) |
|
Supplies and consumables |
(33 600) |
(43 832) |
(32 026) |
(30 131) |
(28 291) |
|
Total cash outflows |
(126 508) |
(142 064) |
(134 795) |
(137 326) |
(137 764) |
|
|
|
|
|
|
|
|
Net cash from (used by) operating activities |
14 366 |
13 131 |
9 058 |
13 076 |
5 092 |
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
Payments for acquisition of non‑financial assets |
(29 110) |
(24 550) |
(20 000) |
(12 000) |
(11 000) |
|
Proceeds from the disposal of non‑financial assets1 |
7 500 |
.... |
.... |
.... |
.... |
|
Net cash from (used by) investing activities |
(21 610) |
(24 550) |
(20 000) |
(12 000) |
(11 000) |
|
|
|
|
|
|
|
|
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 |
(12 244) |
(11 419) |
(10 942) |
1 076 |
(5 908) |
|
|
|
|
|
|
|
|
Cash and deposits at the beginning of the reporting period |
21 959 |
36 565 |
25 146 |
14 204 |
15 280 |
|
Cash and deposits at the end of the reporting period |
9 715 |
25 146 |
14 204 |
15 280 |
9 372 |
|
|
|
|
|
|
|
Notes:
1. Proceeds from the disposal of non‑financial assets relates to the sale of Launceston City campus properties.
2. The reduction in Net borrowings reflects the repayment of an advance from the Department of Education.