2023 annual report final WEB - Flipbook - Page 65
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 4. Revenue
Government Grants – Recurring
Government Grants – Non-recurring
Tuition revenue
Tithes and offering
Donations
Sales
Rental of premises
Fund raising
Departmental income
Events
Conferences
Management fees
2023
$'000
2022
$'000
69,296
3,014
46,824
26,834
8,925
10,624
2,342
3,257
1,775
303
65
63
173,322
64,146
822
43,151
25,644
8,613
7,504
2,313
3,022
1,025
232
36
102
156,610
55,945
49,759
16,365
72,310
15,209
64,968
5,032
240
(5)
5,267
4,286
55
411
4,752
99,369
9,306
1,370
110,045
90,633
8,239
1,088
99,960
1,588
270
231
148
2,237
747
81
71
112
1,011
Note 4(a). Government Grants
Commonwealth government
- Department of Education
State Government
- Department of Education
Note 5. Other Income
Other income
Interest
Net (loss)/profit on sale of assets
Note 6. Expenses
Salaries and related expenses
Operating salaries and related expenses
Superannuation expense
Long service leave expense
Note 7. Interest Expense
Interest expense – Westpac Banking Corporation
Interest expense - Members & Related Parties
Interest expense – Leases
Interest expense – Other
Interest expenses – Westpac Banking Corporation includes Line Fee of $356,893 (2022 - $245,229).
2024 INC Annual Report
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