28    TasTAFE

Authority Outline

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.


Key Deliverables

Table 28.1 provides a summary of the Budget and Forward Estimates allocations for key deliverables being undertaken by the Authority.

Table 28.1:       Key Deliverables Statement

 

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 

.... 

.... 

.... 

 

 

 

 

 

COVID‑19 ‑ Infrastructure Improvements

This initiative will enable TasTAFE to undertake improvements to ventilation and air quality across its facilities in response to COVID‑19.

Support for students and additional TasTAFE Teachers

This initiative provides funding support for the 100 additional TasTAFE teachers committed in the 2021‑22 Budget and associated services.

Virtual Campus/Student Management System Business Case

Funding is provided to develop a robust business case for further investment in the Virtual Campus initiative and TasTAFE’s Student Management System.

Water and Energy Trades Centre of Excellence

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.


 

Detailed Budget Statements

Table 28.2:       Statement of Comprehensive Income

 

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 

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.

 


 

Table 28.3:       Statement of Financial Position as at 30 June

 

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.

 

Table 28.4:       Statement of Cash Flows

 

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 

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.