SCHOOL PERFORMANCE REPORT 2017 - Cornerstone College · A focus on the Australian Professional Standards for Teachers has sharpened the focus on teaching as a profession. There are

SCHOOL PERFORMANCE REPORT 2017

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68 Adelaide RoadMount Barker 5251South Australia(08) 8398 [email protected]

ABN 54 858 405 236

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From the Principal 4

College Overview 6

Reporting on Performance Measures 7

Value Adding 8

Staff Professional Learning 9

Teacher Standards and Qualifications 10

Workforce Composition 11

SACE 12

Naplan 13

Teaching and Learning 14

Post School Destinations 16

Ministry and Care 17

Parent Satisfaction 18

Infrastructure 23

Support Services 24

Financial Statements 26

Notes to the Financial Statements 34

Independent Auditors’ Report 43

CONTENTS

C O R N E R S T O N E C O L L E G E S C H O O L P E R F O R M A N C E R E P O RT 2 0 1 7

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The Reformation, with Martin Luther as a central figure was a key turning point in history. For many, this may seem to be of little significance to their daily lives, or have any connection to a Lutheran College like Cornerstone in 2017.

However, Luther is one of the most important and influential figures in history, he empowered a diverse range of people, and amongst other agitators for change at the time, gave rise to significant movements and growth in religion, culture, politics and education.

Cornerstone College is blessed to have this heritage to underpin our purpose and practice.

We recognise, understand and strive to ensure students have the skills and habits to flourish in a world they are compelled to contribute to and influence.

There are a myriad of learning intentions and experiences we ensure our students encounter to enable them to develop and embed these skills and habits.

There is little doubt that the heart of our mission is to enable students to gain an understanding of the Gospel message and how it can be both a change agent and lighthouse for their lives.

There are many reasons Cornerstone College continues to be a place of high quality and care, including the following:

• Keeping the mission of the College as a touchstone for our long-term visions and daily decisions.

• Having considered and comprehensive learning and wellbeing structures, programs and resourcing.

• Providing a wide range of, and deep experiences in subjects and extra- curricular activities.

• Having an awareness and capacity to develop and deliver extension and modified learning opportunities.

• Having highly professional and skilled staff, who actively engage in ongoing professional networking and development.

• Providing extensive subject selection and career counselling processes.

• Influencing students commitment and dedication to sustained effort and persistent application to their learning.

• The guidance, care and support of students’ families and friends.

• The interrogation of data to affirm teaching and learning practices and drive sustainable ongoing improvement.

2017 marked the 500th anniversary when, according to traditional accounts, Martin Luther posted his 95 ‘Theses’ or discussion points on the door of Wittenberg Cathedral. Luther’s actions are usually held to mark the beginning of the Protestant Reformation.

FROM THE PRINCIPAL

DURING THE YEAR WE FAREWELLED THE FOLLOWING PERMANENT STAFF MEMBERS:

• Mrs Philippa Ball (Communications & Engagement Team)

• Ms Rebecca Burfitt (Psychology teacher)

• Ms Stephanie Noon (Communications & Engagement Director)

• Ms Michelle Richards (Senior School Learning Leader)

• Mr Rob Rohde (Deputy Principal)

• Mr Andrew Weiss (Science Key Learning Area Leader)

As Cornerstone College looks beyond 2017, we will continue to honour our heritage and recent history, whilst preparing for a new cycle in our strategic planning and goals for the future.

Craig FielkePrincipal

CORNERSTONE COLLEGE RECOGNISES, UNDERSTANDS AND STRIVES TO ENSURE STUDENTS HAVE THE SKILLS AND HABITS TO FLOURISH IN A WORLD THEY ARE COMPELLED TO CONTRIBUTE AND INFLUENCE.

C O L L E G E O V E R V I E W

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As a condition for receiving Australian Government funding we are required to ensure that a range of accountability requirements are published and made available to the College community. What follows is a collated version of this information under the headings specified by the Australian Government.

The information relates to the 2017 school year.

If you have any questions regarding this document please direct them to Carl Hollsten on (08) 8398 6003.

COLLEGE OVERVIEW

OUR MISSION STATEMENT

We are a caring Christian community nurturing within students a growing relationship with Christ which promotes individual excellence, learning and responsibility, for life.


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THE STATISTICS

The 2017 school year commenced with 905 students which consisted of 454 girls and 451 boys.

Throughout each year there is always movement in student numbers, as families move out of and into the region and senior students take up apprenticeships and enter the workforce.

By the August census we had almost maintained our enrolled students to finish at 901.

Of this complement we had 2 indigenous students and 32 students with disabilities.

REPORTING ON PERFORMANCE MEASURES

WHY PARENTS HAVE CHOSEN CORNERSTONE COLLEGE

In a recent collation of enrolment data, the four key reasons for Year 7, 2017 families choosing Cornerstone were:

1. Caring environment

2. Academic reputation

3. Christian education

4. Curriculum choice

It is noted that the top three out of four have traditionally been key determinants of parental choice of Cornerstone College.


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What follows is a range of examples of activities undertaken during 2017 that added value to the educational experience of students at Cornerstone College.

• Student International Exchange Programs Germany, China.

• Christian Living Program Students have the opportunity to learn about the Christian faith and its impact and relevance in life.

The Year 9 Journey program is unique and encompasses Christian Living.

• Christian Service Chapel Band, Passion Meditation, Ministry Team, Prayer Group, Spiritual Support Group and Year 12 Christian Living Legacy Program including the interaction with people in aged care facilities.

• Community Service Australian Lutheran World Service, 40 Hour Famine, World Vision and Habitat for Humanity.

In 2017, Community Service included two International student service tours to Cambodia.

• Leadership Student Representative Council, Junior and Senior House Leadership and College Leaders.

• Extension Activities Chess, Duke of Edinburgh.

• Public Speaking Lions Youth of the Year, Rostrum Voice of Youth, Debating, Year 8 Lutheran School Public Speaking, Auction Idol.

• Sports Athletics, Swimming, Triathlon, Ekiden Relay and many interschool sports including Tennis and Gymkhana.

• Knockout Sports Basketball, Australian Rules Football, Soccer, Volleyball, Netball, Cricket, Touch Football, Hockey and Softball.

• Sustainability Recycling, Waterwatch, Student Environment Council, River Murray Youth Council / Health of River Forum, Working Towards Sustainability Group.

• Curriculum Related Maths Quiz Night, Chemical Analysis Competition, Karneval, Music, Visiting Speakers, Arts Alive, Art Exhibition (SALA), Mock Interviews, Meet the Writers, Operation Flinders, Premiers’ Reading Challenge, Book Clubs, Photography Group.

Cornerstone College exists to provide a quality education for our students and to add value to this educational experience.

Value is added by extending beyond the statutory curriculum requirements through our ethos, culture and environment and by the co-curricular and extra-curricular activities provided by the school.

• Music Program Crescendo, Junior/Intermediate Vocal Ensemble, Music Camp, Hot House Band, Little Big Band, Music Cabaret, Concert Band, Senior Choir, Worship Bands.

• Special Curriculum Initiatives Special programs for those with special learning needs.

The ‘STRETCH program’ for Gifted and Talented students.

• Health and Wellbeing Drug Education, Healthy Eating Programme, Resiliency Program, Car Safety Awareness, Sexuality Education, Healthy Minds (Year 8), Odyssey for Boys and Inspire for Girls (Year 10).

• Camp/Experiences Year 8 Camp, Year 9 Journey Camp, Year 10 Experience, Year 11 Ski Trip, Year 12 Retreat, Outdoor Education and Physical Education Camps.

• Community Outreach Australia’s Biggest Morning Tea, ALWS Fundraising, Tree Planting.

• School and Parent Community Links Parent Information Evenings, Interviews, Sub-school Transition Occasions, Guest Speakers for Parents, Newsletters, Information Booklets and Social Media

• Special Occasions Grandparents and Special Friends’ Day, Middle School Showcase, College Food and Fun Fest, Old Scholar Reunions, Year 12 Formal, Closing Service and Cornerstone Classic Golf Day.

VALUE ADDING


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AT CORNERSTONE, WE RECOGNISE THAT BY

ATTRACTING AND MAINTAINING HIGHLY QUALIFIED

TEACHERS, AND ENGAGING IN VISIBLE TEACHING

AND LEARNING OUTCOMES WE SIGNIFICANTLY

INFLUENCE SUCCESSFUL STUDENT LEARNING

OUTCOMES.

With a strong focus on professional learning promoted through our strategic vision, we actively enact programs which provide opportunities for our staff to grow

professionally.

While the quality of teaching and relevant feedback to students is paramount, we also acknowledge the value of dedicated support provided by Lutheran Support Officers (LSO) who are challenged to achieve at a high level through training and professional learning.

AUSTRALIAN PROFESSIONAL STANDARDS

A focus on the Australian Professional Standards for Teachers has sharpened the focus on teaching as a profession.

There are seven Standards with thirty seven Focus Areas which require teachers to self-assess their level of proficiency against four career stages: Graduate, Proficient, Highly Accomplished and Lead Teacher.

Cornerstone College has an expectation and process for teachers to collect evidence relating to the Standards. We encourage our staff to consider applying to become Highly Accomplished or Lead Teachers in the national arena.

Currently a small group of teachers have started this process.

PROFESIONAL DEVELOPMENT: TEACHING AND LEARNING

The Professional Learning program for teaching staff continued the two-year cycle commencing in 2016 with the Personal Project (a professional learning goal) being a key feature for the Year A group.

This program cycle is now embedded in the culture of our school.

An expo of projects in December was embraced by staff, with some presentations being recorded on video by a Year 8 student.

STAFF PROFESSIONAL LEARNING

The presentation of projects:

• Enabled staff to engage in professional learning and research relevant to their teaching;

• provided staff with the opportunity to present professionally to their peers and to use pedagogies used in the classroom; and

• enabled staff to learn from each other.

PROFESSIONAL COLLABORATION

College Leadership provide time for Year 7 teachers to collaborate as part of their load and this concept was expanded to some Year 8 teams in 2017. The strength of collaboration as a professional learning tool is being increasingly acknowledged.

PROFESSIONAL LEARNING: ADMINISTRATION

The professional growth of LSOs is supported through an annual review process which includes goal setting for the next year.

STUDENT FEEDBACK

Teachers embraced student feedback which is now collected by an online survey.

The feedback enables us to collect longitudinal data on learning outcomes whilst enhancing pedagogical practice.

A secondary outcome is the improvement of pastoral care programs.

Feedback is provided to individual teachers but is also referenced across the College.

DEVELOPING STAFF LEADERSHIP

In 2017, we continued to build a system of line management for teaching staff, which involved learning leaders working with small teams to set learning goals, mentor and coach staff, and to conduct the annual reviews.

This is a successful shift which highlighted the value of these leaders in our College and the need to develop them as leaders.

FLINDERS UNIVERSITY

In 2017, Cornerstone College strengthened our partnership with Flinders University by accepting four pre-service interns for the year. This process underscored our commitment to teacher training whilst providing opportunities for our staff to act as mentors and teacher leaders.

We will take four interns in 2018 as well as eight other Pre Service placements from Flinders to continue to build on this program.

In addition, Flinders University is providing scholarships to teachers at Cornerstone, covering topics within a Master’s program.

We are encouraging Flinders University to provide stronger pathways for pre-service teachers to teach in a middle school environment.

Leaders at Cornerstone have presented to the University on this topic.

QUALIFICATION NUMBER

HELD

Certificate 5

Certificate III 1

Certificate IV 8

Graduate Certificate 7

Diploma 20

Associate Diploma 1

Graduate Diploma 28

Bachelor of Applied Science 4

Bachelor of Arts 18

Bachelor in Business (Recreation Management) 1

Bachelor of Design 1

Bachelor of Education 57

Bachelor of Health Science 1

Bachelor of Mathematical Science 1

Bachelor of Music 3

Bachelor of Performing Arts 2

Bachelor of Science 16

Bachelor of Special Education 2

Bachelor of Teaching 2

Bachelor of Visual Art and Applied Design 1

Bachelor of Visual Communications 1

Honours 11

Masters 15

Doctor of Business Administration 1

All teachers at Cornerstone satisfy the requirements of the Teachers Registration Board for registration.

A list of qualifications and the number of these held by teaching staff in the College are listed in the table below. In addition to these formal qualifications, all staff undergo training in Responding to Abuse and Neglect, First Aid and Valuing Safe Communities. They hold all the necessary qualifications for teacher registration in South Australia which includes a criminal history check.

TEACHER STANDARDS AND QUALIFICATIONS


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In 2017 the College had the following composition of staff to support the students in their learning:TEACHERS

Females: 18 Full Time 26 Part Time Total: 44 staff or 35.19 full time equivalents.

Males: 35 Full Time 5 Part Time Total: 43 staff or 41.2 full time equivalents.

NON-TEACHING

Females: 36 Part Time staff which equates to 22.96 full time equivalents.

Males: 6 Full Time and 4 Part Time, totalling 10 staff or 7.74 full time equivalents.

In total, the College had 133 staff which represented 107.09 full time equivalents. Currently Cornerstone

WORKFORCE COMPOSITION

has no staff members identified as Indigenous.

In order for students to reach their full potential, Cornerstone provides a number of specialist roles/personnel to support students and the academic program, as follows

• Learning Director– Senior School Learning Leader

– Middle School Learning Leader

– Learning Area Leaders in Faculty Subject

• Wellbeing Director– Senior School Wellbeing Leader

– Middle School Wellbeing Leader

• Sustainability Education Coordinator

• Adaptive Education Leader– Adaptive Education Support Staff

• Pathways Coordinator

• Careers Counsellor

• SACE Coordinator

• College Counsellors

• College Pastor– College Chaplain

Teachers who are engaged as supervisors to replace teachers who are ill (TRTs) and those on replacement contracts to fill in for those on long service leave or maternity leave etc, are not included in the calculation. They do not form part of the permanent teaching staff and would be expected to leave when the teacher they are replacing returns from leave.

As at the August Census, there were 73.5 full time equivalent teaching staff members employed at the College.

During 2017, two teaching staff members terminated their employment from the College, one staff member transferred to another Lutheran school and the Deputy Principal, Mr Rob Rohde, retired from teaching, giving us a retention rate of 95.5%.

During 2017, two non-teaching staff members terminated their employment.


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2017 Merit winners

In 2017, 140 students undertook full or part-time studies in Year 12. Of those, 137 planned to complete the SACE in 2017 with 100% successfully completing SACE requirements (compared to 97.33% for the State).

Students studied from a range of 33 Stage 2 subjects including 3 Modified SACE subjects to accommodate the learning of Adaptive Education students.

127 students had a combination of SACE subjects that entitled them to receive an ATAR.

Of students receiving an ATAR and applying to SATAC, 20.6% received a score of 90 or above (19.8% in 2016) while 53.6% of students achieved an ATAR of 80 or above.

All Year 10 students successfully completed the Personal Learning Plan as the first component of their SACE.

100% completion

SACE

72.283.5

average ATAR (69.3 in 2016)

median ATAR score

99.75

29.4%

79.3%

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ATAR obtained by the 2017 Dux of the College

of grades were A’s (23.8% in 2016)

were As or Bs (70.84% in 2016)

A+ grades were achieved

Ten merit awards were achieved in English, General Mathematics, Mathematical Methods, Nutrition, Physics, Research Projects, Specialist Mathematics and Workplace Practices.


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In May 2017, the National Assessment Program for Literacy and Numeracy (NAPLAN) tests were completed by students in Years 3, 5, 7 & 9. This is an annual Federal Government requirement.

Students at Cornerstone in Year 7 and Year 9 completed five assessments, in the areas of Numeracy, Reading, Writing, Spelling and Language Conventions.

NAPLAN

The table shows the mean NAPLAN results in Year 7 at Cornerstone compared to SA and Australian mean scores.

Year 7 Reading Writing Spelling Grammar & Punctuation

Numeracy

Cornerstone 570.4 535.8 558.7 564.2 565.6

South Australia 542.1 510.1 544.5 539 544

Australia 544.7 513 549.6 541.6 553.8

The table shows the mean NAPLAN results in Year 9 at Cornerstone compared to SA and Australian mean scores.

Year 9 Reading Writing Spelling Grammar & Punctuation

Numeracy

Cornerstone 593.9 578.3 581.3 578.9 598.4

South Australia 570.9 540.4 572.9 564.1 578.2

Australia 580.9 551.9 581.5 574.1 592

STUDENT ATTENDANCE

In 2017 the average student attendance rate was 93.3%.

Year Level #Days Absent

#Students #School Days

Possible Days

Days at School

Attendance

Year 7 1,436 150 187 28,050 26,614 94.88%

Year 8 1,727 156 187 29,172 27,445 94.08%

Year 9 2,005 158 187 29,546 27,541 93.21%

Year 10 1,842 154 187 28,798 26,956 93.60%

Year 11 2,117 143 182 26,026 23,909 91.87%

Year 12 1,832 140 157 21,980 20,148 91.67%

Totals 10,959 901 163,572 152,613 93.30%


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This year significant focus was placed on progressing the development of our Learning Management System, Charis, with the system opening to parents. Parents were able to access College information as well as see some assessment information including due dates, results and feedback, for their individual children.

Staff training increased their use of Class Pages and collaboration to develop team Course Pages for key subjects.

In 2018, all summative assessment results and feedback will be accessed.

VISIBLE LEARNING

Hattie’s work on Visible Learning emphasises the benefits of timely feedback as one of the key ways to increase learning outcomes.

Real time provision of this information allows students to reflect immediately on their learning. Parents can access this information to prompt discussions on learning with their child/ren.

Students can make timely changes in their learning progression based on the feedback without waiting for term reports.

YEAR 8 PILOT

This year we introduced an integrated teaching program for two core Year 8 classes.

The two classes were taught 50% of their lessons by two teachers, with the classes working together collaborating on larger projects.

The pilot enabled the key teachers to develop new resources and enhanced their pedagogical skills in a new teaching environment.

Through a thematic approach, students covered the

Australian Curriculum for Year 8 in Mathematics, Science, English, History, Geography, Civics and Citizenship and Business and Enterprise.

While the thematic, integrated approach provided relevant and interesting context through which the students could learn, basic skills were still reinforced through skill builder sessions.

This was particularly the case for important skills in literacy and numeracy.

The students found the integrated approach engaging, but also challenging.

Our aim was to intentionally support the students to develop the key capabilities of creativity, collaboration, critical thinking and communication, known as the 4 Cs.

BUSINESS AND ENTERPRISE PROJECT

One particular feature of the year was a Shark Tank style Business and Enterprise project, where each student group was allocated some funds and developed a business.

Over the course of a term, students developed and ran their business, and reported back on their results including their finances. Any profit made supported College charity projects.

The Business and Enterprise Project engaged the students in the wider community with a variety of business ideas including selling products and services such as car cleaning for staff and parents.

In 2018, the pilot will be extended to encompass all Year 8 core classes.

FLINDERS UNIVERSITY

Cornerstone continues to benefit from our partnership with Flinders University through programs in their Education degrees. The College has a number of pre-service interns each year. This year the partnership was extended to include two literacy mentors working in Year 8 Core classes for a semester, one day a week.

The pre-service teachers gain the advantage of in-class experience early in their studies, while students benefit from increased support in the classroom. This program increases to two pre-service mentors per semester in 2018.

TEACHING AND LEARNING


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STUDENT-LED CONFERENCES

Another Middle School initiative implemented in 2017 involved a focus on Student-Led Conferences in place of traditional parent-teacher interviews.

Students prepared a folio of work which they presented to their parents along with discussion around their learning achievements, based on the Australian Curriculum Achievement Standards.

This approach incorporated the focus on students being able to communicate clearly about their learning and critically analyse their progress.

MIDDLE SCHOOL

The learning and teaching developments in Middle School as well as the way learning takes place in Paideia continues to be of interest to other schools.

During the year, a number of schools visited to investigate our Middle School, to better understand functionality and best practice in pedagogy.

The College is committed to continual improvement and seeks the latest research and thinking on best practice in education through our ongoing connection with the AISSA Middle School group, REAL, and the Australian body, Adolescent Success.

Future directions in Middle School include ongoing planning for a blended elective program and the development of a Middle School Certificate.

SENIOR SCHOOL

At Senior School, critical evaluation of the Year 12 results, goal setting, further internal moderation and professional development resulted in another year of excellent results.

This has included a particular focus in the Research Project where an increased number of merits and A+ grades were gained, signifying continual improvement in critical and creative thinking skills.

Our academic results in 2017 across the board were very pleasing.

CAREER SUPPORT

The College continues to develop opportunities for students to explore career and study options.

Three career focus days were introduced at Year 11 with a host of career speakers visiting the school for a day in Term 2, along with two city visit days to employment sites, and tertiary and training organisations across a wide range of career areas.

Cornerstone again hosted a very successful community Careers Night along with the further development of Year 10 Workplace Practices subject.

The intentional focus on career planning and related choice of appropriate subjects ensured students were well prepared for the 2018 Subject selection process.

A new format was introduced for the Senior School subject selection night, with a single night of expo style sessions accommodating the areas of interest for Years 10-12.

Sessions on selecting subjects, SACE, career planning, Senior School wellbeing and Vocation Education & Training options supported parents and students. Expert teachers were available at the Subject Expo, providing clarity to students and parents on the selection process.

Feedback suggests parents appreciated the format, especially those with multiple children. The flexible short sessions, offered multiple times across the evening, allowed families the opportunity to personalise their experience to suit their immediate needs.

STEM

STEM continues to be a focus area in education. Cornerstone engaged in STEM discussions with the LEAH schools through a new working group.

Our Science and environmental facilities were used in Term 3 to support the LEAH schools with an environmental focus day as part of their STEM programs.

A new Year 10 Science elective was developed and is now running in 2018. This provides Year 10 students who really enjoy STEM subjects the chance to do an extra subject beyond the core subjects.

Mrs Julie Sampson Learning Director


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POST SCHOOL DESTINATIONS

97 students applied to SATAC for university course

71.4% were offered their first preference for university

82.7% were offered first or second choices (85% in 2015)

48

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students completed subjects from Vocational courses as part of their SACE (46 in 2016).

This included certificates in Children’s Services, Christian Ministry and Theology, Fitness, and. Information Technology.

students completed a Certificate 3 as part of their SACE studies.

A WIDE VARIETY OF COURSES WERE OFFERED TO THE 2017 COHORT

Medical Science, Paramedic Science, International Development, various Engineering options, IT (Game and Entertainment Design), Business, Education, (primary, middle and secondary options), Design, Science, Nursing, Human Movement, Mathematical Sciences, Psychology, Nutrition and Food Sciences, Arts, Midwifery, Law (double degree), Media, Criminology, Music, Architecture, Environmental Science and Pharmacy.


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Our biannual Restorative Practices professional learning continues to upskill staff in the outworking of grace and forgiveness whilst increasing student ownership of their actions.

We launched SchoolTV, an electronic platform to support parents and our community in raising young people.

SchoolTV provides range of wellbeing topics, published monthly with fact sheets, suggested books, apps, websites and comprehensive videos from leading specialists and organisations. Contributing organisations include Beyond Blue, ReachOut and HeadSpace.

Peer Mentoring continues to evolve between Year 7 and Year 10 students in paired Home Group, with the flow on between Year 8 and Year 11 students from previous years.

MINISTRY AND CARE

In 2017, there were many new Staff House Leaders within the Pastoral Care Team and from the start they proved themselves a cohesive group, enthusiastically and passionately promoting and supporting student wellbeing and learning.

STAFF HOUSE LEADERS

Mr Justin Kerber held the position of Acting Wellbeing Director in Semester 1, whilst Mr Andrew Day fulfilled the role of Senior School Wellbeing Leader.

INITIATIVES IN WELLBEING - STAFF

Detentions have been replaced by Focus Meetings where our students partcipate in restorative discussions run by House Leaders.

Mrs Katy Walker has been an excellent addition to the Counselling team, and will increase her time at the College from two to three days, working alongside Lead Counsellor, Mr Matthew Schirmer.

INITIATIVES IN WELLBEING - STUDENTS

Our focus on empowering our Student Leaders has continued:

• Leading chapels – Middle School, Senior School and Whole School

• Assemblies – hosting Coffee Connect, MC, devotion

• Providing more opportunities to pursue their own initiatives

• Inserting a regular spiritual component to meetings.

INITIATIVES IN WELLBEING - COMMUNITY

Contributions to Strategic Goal 3 ‘Strengthening our partnership with community’ have included the establishment of Coffee Connect as our accepted process prior to assemblies and opening worships.

Parents are contacted if their child is involved in some way.

REFORMATION CELEBRATION

2017 was a year of celebration, as our Lutheran community commemorated the 500th anniversary since the beginning of the Christian Reformation. Martin Luther’s brave act to challenge the Roman Church in 1517 continues to be an influence today, and Cornerstone remains enthused to share the message of ‘grace alone’ as the thing that Jesus Christ brought to the world by means of his life and death.

2017 was framed around the concept of grace, which has been a theme of ongoing spiritual professional development for our staff for over 18 months.

CHAPLAINCY

Andrew Traeger continues to grow into his role as College Chaplain, and has made excellent connections with students at many levels. His work in supervising the Vetamorphus program for Year 11’s, and his oversight of the Passion Meditation presentation were highlights.

The Passion Meditation was titled ‘Grace’, a powerful piece of theatre presented to all students, and many parents and guests of our College. Themes of forgiveness and reconciliation were present throughout a series of contemporary interactions that allowed the Easter story to be shared in unique and vivid ways.The Chapel program remains the centre-piece of ministry engagement at Cornerstone, and the philosophical approaches to how to best to tell the God story continue to challenge ministry and teaching staff.

MINISTRY AND CARE

THE EXPRESSION OF GOD’S LOVE THROUGH THE SUPPORT, CARE AND NURTURE OF EACH INDIVIDUAL WITHIN THE COLLEGE COMMUNITY (GROWTH IN FAITH/WORSHIP).

Different modes of engaging students is key to helping our community appreciate the realness of the Gospel message.

We were pleased to have a variety of presenters, both internal and external, providing the strength of diversity to the program as a whole.

MINSITRY INTERNSHIP

Looking forward, our team is excited about the establishment of a ministry intern program, allowing for graduates to return to the College for a year of voluntary ministry. Further to this, we are engaging a number of ministries beyond Cornerstone to come into our community to serve the student body in different ways. Some of these include local ministers running faith courses, and parents who provide Christian mentorship during lunchtime ministries.

IMAGINATION

Imagination, which will provide a foundation for sharing the idea of God’s image in the world today. We look forward to imagining how this theme will serve our community in a way that continues to sow the seeds of the Gospel, and we ask God to give us all we need to do this well and to bring glory to his name at Cornerstone.

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In 2015 and 2016 a random sample of parents were selected with approximately 100 respondents to the survey.

In 2017 the Parent Satisfaction survey was distributed to 653 parents of the College, with 205 parent responses received.

Middle School parents were the most engaged, with more than 25% of parents identifying children in each of Years 7, 8 and 9. Year 10 parents were the least engaged, with only 19% representation, and parents of Year 11 and 12 showed engagement of 22% and 24% respectfully.

Of parents surveyed, 15% were new parents to the College, with 85% indicating that they had an existing relationship with the College.

2015 2016 2017

A caring and supportive learning environment 89% 89% 91%

Foster personal development through service activities 83% 89% 81%

Encourages students to achieve their highest possible level 83% 84% 78%

Foster respect for the environment 83% 96% 85%

Encourages global awareness 84% 82% 79%

Provides the opportunity for students to explore their faith 85% 85% 85%

Provides teaching that meets the needs of their child 78% 79% 74%

Provides an innovative and engaging approach to teaching and learning

88% 79% 73%

Caters for individual differences 79% 57% 69%

PARENT SATISFACTION

2017 parents and caregivers of Cornerstone College were surveyed to ascertain their level of satisfaction with the College during the year.

This is the third consecutive Parent Satisfaction Survey and we aim to build longitudinal data to influence improvement in deliverables at the College.

SECTION 1 PERCEPTION OF CORNERSTONE’S OFFERING

Parents were asked to rate Cornerstone’s success in delivering:

The survey was divided into four sections, each one focusing on a different element. The parents had a scale in which to rate each question ranging from ‘Completely’ satisfied to ‘Not at all’ satisfied.

The collective percentage of parents who rated ‘Completely’ satisfied or ‘Mostly’ satisfied is listed against each question below.

It is important to note that Sections 1-3 are consistent with the longitudinal data collated by the College across all three years. This data aligns to Strategic Goals 1,2 and 4 as outlined in the Cornerstone College Strategic Goals 2013-2018.

However, Section 4 of the survey was altered in 2017 to reflect community engagement in line with Strategic Goal 3, which was not previously addressed by the Parent Satisfaction survey.


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SECTION 2 TEACHING AND LEARNING

Parents were asked how satisfied they were with the following aspects of the educational program and learning environment at Cornerstone.

2015 2016 2017

The use of technology to enhance student learning 95% 88% 89%

Classrooms and physical spaces support student learning 92% 90% 91%

Support students when making subject choices 81% 79% 76%

Recognition and affirmation of student achievement 80% 80% 77%

Curriculum information provided by the College 88% 88% 83%

Breadth of subjects offered 89% 90% 88%

Support in choosing pathways for senior school 66% 67% 68%

Support and extension within the classroom 78% 67% 65%

The extra‐curricular programs 79% 73% 76%

The quality of teaching 85% 81% 82%

The quality of the curriculum 86% 90% 85%

2015 2016 2017

Efforts of the College to keep parents informed 96% 91% 94%

Preferred way to communicate (multiple answers)

- School Newsletter connections 94% 91% 86%

- Letters and emails 88% 79% 84%

- Charis (Learning Management System) No data No data 38%

- Facebook Page No data No data 35%

- Website No data No data 31%

SECTION 4. COMMUNITY ENGAGEMENT

2017 was a year for addressing parent engagement with the College to strengthen relationships and better service the community.

• 7% of parents identified that they were somewhat involved to extremely involved with the PT&F

• 27% of parents identified that they had volunteered at cibo bello or another community event during 2017.

• 20% of parents indicated that they had visited Cornerstone College during 2017 for events other than school drop off or pick up

Opportunities to further enhance community engagement will be a focus in 2018.

SECTION 3COMMUNICATION WITH PARENTSWhilst there is a changing trend in how parents would prefer to receive information from the College, and the emphasis on Charis and Facebook are growing, at the time of being surveyed, more than 42% of parents indicated that they had never accessed Charis for parent information.

NET PROMOTER SCORE

Whilst overall parent engagement with the College and our community events indicate areas for growth and improvement, our most important indicator of parent satisfaction lies in the final question of the Parent Satisfaction Survey.

This question is used to determine the Net Promoter Score (NPS).

NPS is a proven, powerful metric used globally to measure customer engagement and advocacy levels. It establishes the likelihood of a customer to recommend a product or service on a scale of 0-10.

To ascertain the result, the percentage of the detractors (those who rate the College as a 1-6) are subtracted from the percentage of promoters (those who rate the College a 9 or 10).

Compared to 2016, our results in 2017 indicate an elevated level of overall satisfaction with the College.

Year Net Promoter Score

2015 61

2016 47

2017 58

Cornerstone College is committed to delivering best practice in education and service to the Community, as such, despite an overall strong NPS, significant focus has been directed to identify areas and strategies for improvement in 2018.


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22


INFRASTRUCTURE

THE PROVISION OF RELEVANT SERVICES

THAT SUPPORT THE EFFECTIVE

OPERATION OF THE COLLEGE IN ITS

FOCUS AS A PLACE OF LEARNING.

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Progress continues delivering upon the strategic tasks and activities defined by the College Strategic Plan 2013-2018.

Enhance the levels of challenge & achievement in student learning across all year levels.

Champion best practice in professional learning.

Strengthen our partnerships with community.

Lead in middle school teaching and learning.

Maintain sustainable and strong governance.

INFRASTRUCTURE

Throughout 2017, the Finance team have continued to strive towards achieving the financial targets and benchmarks set by College Finance Committee and endorsed by the Board.

Their efforts have exceeded these targets and placed the College in a strong financial position achieving another significant surplus, and thus providing the opportunity to pay down capital loans at an accelerated rate and reinvest in College infrastructure improvements.

The strong financial results were achieved even though enrolment targets were minimally below budget. Initiatives across the College to counter this included increasing engagement with the community, maximising income potential, minimising expenditure, and improving operational efficiencies and cashflow, all without sacrificing educational standards to students.

There is still much work to be done to continue to pay down capital loans, deliver on capital projects and undertake planned maintenance programs on buildings, infrastructure and the grounds.

We continue to review all departments to ensure they are operating effectively and efficiently.

INCOME BY FUNDING SOURCE

The College receives its income through several sources as represented below by order of value.

Fees $8,123,720

Commonwealth Grants $7,529,916

State Grants $1,587,523

Building Fund Donations $364,474

Other Income $340,961

Other Grants $49,258

Facilities Hire/Fundraising $221,075

Total Income 2017 $18,216,927

The effective delivery of the support services function at Cornerstone is critical to ensuring the College operates at its optimum, teachers are free to teach and student learning is uncompromised.

Each support service department at Cornerstone has a clear direction and focus, and is committed to continual improvement in their service delivery.

The process for continual improvement includes actively documenting, monitoring and reporting on workflows using a formal plan as a guideline.

This is then extended to include a comprehensive annual review for all administrative staff.

In addition to the internal review process, the College has adopted an external review process, to assess the efficiency and effectiveness of the operation and service delivered.

SUPPORT SERVICES

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2525

26


Maths: Mr Murphy

FINANCIAL STATEMENTS

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F I N A N C I A L S TAT E M E N T S

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In 2017, we have been able to continue to work towards consolidation of the financial position for Cornerstone College.

It is encouraging to see the high level of enrolments over recent years, indicating that Cornerstone continues to be a sought-after environment for secondary education.

Strong enrolments and a positive financial environment help to provide a solid back drop for the College to continue providing ‘Christ centred quality education’. This environment over recent years has provided the opportunity to consolidate our debt position post the College’s expansion into middle school some 4 years ag. This has also provided the opportunity to see a more moderate increase in tuition fees over this period.

In the latter part of 2016 the College Board along with Senior Staff commenced reviewing our Master Planning. This has been progressed during 2017 and will be a further focus during 2018. This planning will form an important strategic part of the agenda for the College leadership and Board in 2018.

At Cornerstone, we are blessed with a dedicated quality team of people, I would therefore like to take this opportunity, on behalf of the College Board, to thank Craig Fielke and the Senior Leadership Team, the teachers, administrators, support staff, grounds and building services staff and any others involved with the day to day life of the College for their ongoing commitment and highly valuable contribution to Cornerstone.

At the end of 2017 we farewelled three long standing Board members in Ron Hogg, Rob Zadow and Pastor Steve Schulz. Each of these has played an integral part in the governance of the School over a number of years, a sincere thank you to each of them. At the time of writing we have also welcomed three new members to the Board in 2018, Lucas Marsh, Pastor Wayne Kerber and Solizna Verwey.

We are blessed at Cornerstone with a dedicated group of people who give of their time to voluntarily oversee the Governance issues of the College. Thank you to my fellow Board and Board Sub-Committee members, for their support, time and commitment over this period, which provides a backdrop for the smooth running of the College Governance.

In all things we thank God for his ongoing presence in the life of Cornerstone College.

Mr Anthony Klatt Chairman

COUNCIL CHAIR REPORT


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REPORT OF THE BOARD MEMBERS31 DECEMBER 2017

The Board Members present their report on the financial statements of the College for the year ended 31 December 2017.

1. GENERAL INFORMATION

Board Members

The names of Board Members throughout the year and at the date of this report are:

Anthony Klatt (Chairman) Chris Howis

Rob Zadow Shane Paterson (Resigned October 2017)

Pastor Stephen Schultz Ron Hogg (Resigned November 2017) (Resigned November 2017)

Sue Kupke Michael Grivell (Appointed March 2017)

Advisory Members

Craig Fielke (Principal) Carl Hollsten (Business Manager)

Observer

Rob Rohde (Deputy Principal) - Resigned December 2017

Principal activities

The principal continuing activities of the College are to provide secondary education for approximately 900 students.

Significant changes

No significant change in the nature of these activities of the College occurred during the year.

Operating result

The surplus of the College for the year after non-operating income amounted to $1,040,780 (2016: $1,401,889).

Events subsequent to the end of the period

No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the College, the results of those operations or the state of affairs of the College in future financial years.


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Board Members benefits

In accordance with the Australian Charities and Not-for-Profits Commission Act 2012 the Board Members of Cornerstone College Inc. hereby state that during the financial year ended 31 December 2017:

(i) no officer of the College;

(ii) no firm of which an officer is a member; and

(iii) no body corporate in which an officer has a substantial financial interest

has received or become entitled to receive a benefit as a result of a contract between the officer, firm or body corporate and the College and no officer has received either directly or indirectly from the College any payment of other benefit of a pecuniary value with the exception of Advisory Members to the Board who received a salary as employees of the College.

Signed in accordance with a resolution of Board Members:

Board Chair: .................................... Board Member: ....................................

Name: ............................................. Name: ..................................................

Dated this .............................. day of .............................. 2018


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STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2017

2017 2016

Notes $ $

Revenue 2 17,847,628 17,564,445

Employee benefits expense (11,979,715) (11,419,862)

Depreciation and amortisation expense (1,457,614) (1,430,660)

Other expenses (3,215,548) (3,086,970)

Finance costs (522,580) (631,712)

Net surplus from ordinary activities attributable to the College 672,171 995,241

Non-operating income 2 368,609 406,648

Surplus after non-operating income 1,040,780 1,401,889

Other comprehensive income - -

Total comprehensive income for the year 1,040,780 1,401,889


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STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2017

2017 2016

Notes $ $

ASSETS

CURRENT ASSETS

Cash and cash equivalents 4 1,262,550 1,297,178

Trade and other receivables 5 1,041,064 1,001,324 Inventories 6 7,865 9,540

Other current assets 7 183,304 165,923

TOTAL CURRENT ASSETS 2,494,783 2,473,965 NON‑CURRENT ASSETS

Property, plant and equipment 8 35,107,549 35,565,357

Intangible assets 9 26,088 26,088

TOTAL NON‑CURRENT ASSETS 35,133,637 35,591,445

TOTAL ASSETS 37,628,420 38,065,410

LIABILITIES

CURRENT LIABILITIES

Trade and other payables 10 4,090,399 3,825,420

Financial liabilities 11 1,539,574 1,535,508

Employee benefit 12 2,672,556 2,582,064

TOTAL CURRENT LIABILITIES 8,302,529 7,942,992

NON‑CURRENT LIABILITIES

Financial liabilities 11 8,621,145 10,458,313

Employee benefits 12 41,573 41,712

TOTAL NON‑CURRENT LIABILITIES 8,662,718 10,500,025

TOTAL LIABILITIES 16,965,247 18,443,017

NET ASSETS 20,663,173 19,622,393

EQUITY

Capital reserve 13 2,130,774 2,130,774

Asset revaluation reserve 13 7,370,473 7,370,473

Accumulated surplus 11,161,926 10,121,146

TOTAL EQUITY 20,663,173 19,622,393


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2017

Accumulated Capital Asset Revaluation Surplus Reserve Reserve Total

$ $ $ $

Balance at 1 January 2017 10,121,146 2,130,774 7,370,473 19,622,393

Surplus after non-operating income 1,040,780 - - 1,040,780

Balance at 31 December 2017 11,161,926 2,130,774 7,370,473 20,663,173

2016

Accumulated Capital Asset Revaluation Surplus Reserve Reserve Total

$ $ $ $

Balance at 1 January 2016 8,719,257 2,130,774 7,370,473 18,220,504

Surplus after non-operating income 1,401,889 - - 1,401,889

Balance at 31 December 2016 10,121,146 2,130,774 7,370,473 19,622,393

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2017


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2017 2016

Notes $ $

CASH FLOWS FROM OPERATING ACTIVITIES:

Government grants 9,166,717 9,009,152

Tuition fees 7,070,295 6,855,875

Building fund transfers 364,474 398,329

Interest received 31,913 34,224

Other receipts 1,532,597 1,676,101

Payment to suppliers and employees (14,855,637) (14,316,157)

Finance costs (522,580 (631,712)

Net cash provided by operating activities 14(b) 2,787,779 3,025,812

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of plant and equipment 48,474 164,037

Payment for property, plant and equipment (1,037,779) (1,021,827)

Net cash (used in) investing activities (989,305) (857,790)

CASH FLOWS FROM FINANCING ACTIVITIES:

Repayment of borrowings (1,745,616) (2,107,826)

(Repayment) of / Proceeds from finance lease (87,486) 117,074

Net cash (used in) financing activities (1,833,102) (1,990,752)

Net increase/(decrease) in cash and cash equivalents held (34,628) 177,270

Cash and cash equivalents at beginning of year 1,297,178 1,119,908

Cash and cash equivalents at end of financial year 14(a) 1,262,550 1,297,178

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2017


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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of preparation

The financial statements are special purpose financial statements that have been prepared for distribution to the Board Members in order to satisfy the Board Members’ financial reporting requirements of the Australian Charities and Not-for-profits Commission Act 2012 and the College’s Constitution. The Board Members have determined that the College is not a reporting entity.

The financial statements have been prepared on an accruals basis and are based on historic costs and do not take into account changing money values or, except where specifically stated, current valuations of non-current assets.

The following significant accounting policies, which are consistent with the previous period unless otherwise stated, have been adopted in the preparation of these financial statements.

(a) Inventories

Inventories consist of canteen and facility stocks and are measured at the lower of cost and net realisable value. Cost of inventory are assigned on a specific identification basis.

(b) Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost or fair value, less where applicable, any accumulated depreciation.

Cost and Valuation

Property, furniture, plant and equipment are recorded at cost and where applicable at Board Members’ valuation. The College does not have a formal policy in respect of the timing of revaluations. Any surplus on revaluation is credited directly to the asset revaluation reserve and excluded from the Statement of Profit or Loss and Other Comprehensive Income.

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date.

An asset’s carrying amount is written down immediately to its recoverable amount if the assets’ carrying amount is greater than its estimated recoverable amount.

Any gain or loss on the disposal of assets is determined as the difference between the carrying value of the asset at the time of disposal and the proceeds from disposal, and is included in the Statement of Profit or Loss and Other Comprehensive Income of the College in the year of disposal.

Depreciation

The depreciable amount of all assets, excluding freehold land, are depreciated over their useful lives to the College commencing from the time the asset is held ready for use. This is the first year depreciation has been charged against the buildings.

Depreciation value is provided on a straight line basis on all items of furniture, plant and equipment, buildings, and library and teacher resources, at rates calculated to allocate the cost and/or fair value, less estimated residual value at the end of the useful lives of the assets, against revenue over those estimated useful lives.

Major depreciation periods are:

Furniture, plant and equipment 5 to 10 years

Buildings 40 years

Library books and teacher resources 5 years

Computers 3 years

Motor vehicles 5 years

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017


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Land and Buildings

The Registered Proprietor of the land on which the College and its buildings and improvements are located is the Lutheran Church of Australia, South Australia District Inc. of Archer Street, North Adelaide SA 5006.

Insurance

All property, plant and equipment is insured with LCA Property Provident Fund. The replacement cost for insurance purposes is $42,828,800 (2016: $41,989,000).

(c) Investments and other financial assets

Investments held are originally recognised at cost, which includes transaction costs. They are subsequently measured at fair value which is equivalent to their market bid price at the end of the reporting period. Movements in fair value are recognised through an equity reserve.

(d) Intangibles

Water licence

Water licence is recognised at cost of acquisition. The water licence has an infinite life and is carried at cost less any impairment losses. Due there being no active market for this type of intangible asset it can not be carried at fair value.

(e) Cash and cash equivalents

Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less.

(f) Trade receivables

Trade and other receivables are carried at amounts due and non-tuition fee receivables are generally settled within 30 days. Tuition fees are due for settlement within the school year. Bad debts are provided for or written off based on a review of collectability of amounts outstanding at balance date. Receivables expected to be collected within 12 months of the reporting period are classified as current assets. All other receivables are classified as non-current assets.

(g) Employee benefits

Provision is made for the College’s liability for employee benefits arising from services rendered by employees to the end of the reporting year. Employee benefits have been measured at the amounts expected to be paid when the liability is settled.

Annual leave for teachers and other staff due at 31 December, where unpaid, is reflected in the financial statements as a provision.

Sick leave taken by employees is charged as an expense when incurred.

Provision is made for long service leave entitlements, estimated to be payable to employees on the basis of statutory and contractual requirements. Long service leave that is expected to be settled within one year has been measured at the amounts expected to be paid when the liability is settled. Long service leave later than one year has been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability, consideration is given to employee wage increases and the probability that the employee may not satisfy vesting requirements. Those cash outflows are discounted using market yields on national government bonds with terms to maturity that match the expected timing of cash flows attributable to employee benefits. Vested entitlements (employees with more than 5 year’s service), are classified as current liabilities.

Under Clause 23 of the Lutheran Schools Enterprise Agreement 2015, an eligible employee, upon proceeding on maternity leave, shall be paid fourteen weeks salary at her substantive salary rate. Any liability for maternity leave, will be charged by the College as an expense in the year that it is paid.


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The contributions made to superannuation funds by the College are charged as an expense.

Within the Lutheran Systems of Colleges and Schools, there is full portability of leave entitlements for employee’s transferring from one Lutheran College and/or School to another Lutheran College and/or School. The total amount of portable long service leave as at 31 December 2017 is $1,697,900 (2016: $1,696,211).

(h) Trade and other payables

Trade payables, including accruals not yet billed, are recognised when the College becomes obliged to make future payments as a result of a purchase of assets or services. These are generally settled within 30 days.

(i) Income Tax

The College is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.

(j) Leases

Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership that are transferred to the College are classified as finance leases.

Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for that period.

Leased assets are depreciated on a straight-line basis over their estimated useful lives where it is likely that the College will obtain ownership of the asset or over the term of the lease.

Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the life of the lease term.

(k) Revenue and other income

Revenue is recognised when the amount of the revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the entity and specific criteria relating to the type of revenue as noted below, has been satisfied.

The nature of the College’s activities allows it to raise funds from operations, principally from fees, income on investments and government recurrent grants.

The College recognises tuition and other associated fees on an accrual basis. Under the accruals basis of accounting, fees represented by outstanding debts have been brought to account as trade debtors.

Grant income is brought to account in the College’s Income Statement in the period to which the income relates.

All revenue is stated net of the amount of goods and services tax (GST).

(l) Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax Office. In these circumstances, the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense.

Receivables and payables in the statement of financial position are shown inclusive of GST. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the balance sheet.


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(m) Critical accounting estimates and judgments

The Board Members evaluate estimates and judgements incorporated into the financial report based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the College.

(n) Working capital deficiency

As at 31 December 2017, the College reported a deficiency in net current assets of $5,807,746 (2016: $5,442,939). As is the case with most Schools and Colleges, the College has a significant surplus of net assets. It is, however, reliant on the timing of positive cash flow, including receipt of Government funding to support its ongoing day-to-day cash flow requirements. Government funding has been secured for 2018.

(o) Comparative figures

Comparative figures have been adjusted to conform to changes in presentation for the current financial year where required by accounting standards or as a result of changes in accounting policy.

(p) Economic dependence

The future operations of the College are dependent upon achieving & maintaining appropriate student enrolment numbers, the continuation of adequate funding from the Australian & South Australian Governments in respect of operational and capital grants, the continued support of the Lutheran Schools Association and the achievement of operating surpluses and positive operating cash flows.

2. REVENUE AND OTHER INCOME

2017 2016

$ $

Revenue

- Fee income (net) 7,066,159 6,870,559

- Government grants 9,166,717 9,011,719

- Canteen income 179,020 189,534

16,411,896 16,071,812

Other revenue

- Interest 31,913 34,224

- Hire of facilities 157,539 126,097

- Other income 1,235,779 1,271,339

- Profit on sale of plant and equipment 10,501 60,973

1,435,732 1,492,633

Total Revenue 17,847,628 17,564,445

Non‑operating Income

Building fund donations 364,474 398,329

Donations & fundraising 4,135 8,319

368,609 406,648


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3. RESULT FOR THE YEAR

The result for the year includes the following specific expenses:

Annual leave expense 79,861 186,381

Auditor’s remuneration - Auditing

- William Buck 9,500 9,280

Bad debts written off/provision for impairment 18,000 18,000

Depreciation 1,457,614 1,430,660

Interest on bank overdraft 943 1,231

Interest on borrowings and loans 521,637 630,481

Long service leave expense 1,690 1,054

4. CASH AND CASH EQUIVALENTS

Cash on hand 775 675

Cash at bank - WPAC Building Fund 2,188 4,687

Cash at Bank LLL 31717S1 1,040,109 1,059,006

Cash at Bank Westpac 219,478 232,810

1,262,550 1,297,178

5. TRADE AND OTHER RECEIVABLES

CURRENT

Sundry debtors - Fees 1,057,114 1,052,978

Provision for impairment (97,899) (108,480)

959,215 944,498

GST receivable 81,849 56,826

Total current trade and other receivables 1,041,064 1,001,324

6. INVENTORIES

CURRENT

Inventories at cost 7,865 9,540

7. OTHER CURRENT ASSETS

CURRENT

Prepayments 183,304 165,923

2017 2016

$ $


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8. PROPERTY, PLANT AND EQUIPMENT

LAND, BUILDINGS AND IMPROVEMENTS

Freehold land

At independent valuation 31/12/2014 3,650,000 3,650,000

Buildings


At cost 7,913,317 7,913,317

Accumulated depreciation (1,290,667) (646,160)

24,507,303 25,151,810

Improvements


At cost 1,277,347 736,496

Accumulated depreciation (261,360) (124,942)

5,526,024 5,121,591

Total land, buildings and improvements 33,683,327 33,923,401

PLANT AND EQUIPMENT

Furniture and equipment

At cost 4,942,004 4,720,663

Accumulated depreciation (4,182,361) (3,737,785)

759,643 982,878

Plant and machinery

At cost 1,574,952 1,425,932

Accumulated depreciation (1,068,928) (889,742)

506,024 536,190

Motor vehicles

At cost 235,660 204,040

Accumulated depreciation (77,105) (81,152)

158,555 122,888

Total plant and equipment 1,424,222 1,641,956

Total property, plant and equipment 35,107,549 35,565,357

9.INTANGIBLE ASSETS

NON-CURRENT

Water licence at cost 26,088 26,088

10. TRADE AND OTHER PAYABLES

CURRENT

Unsecured liabilities

Trade payables 267,483 150,178

Enrolment Deposit 397,300 415,300

Fees in advance 3,156,755 3,008,083

Other payables 268,861 251,859

4,090,399 3,825,420

2017 2016

$ $


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11. FINANCIAL LIABILITIES

CURRENT

Secured liabilities:

Lease liability secured 15 91,642 87,576

Loans - LLL 1,447,932 1,447,932

1,539,574 1,535,508

NON-CURRENT

Secured liabilities:

Lease liability secured 15 41,505 133,057

Loans ‑ LLL 8,579,640 10,325,256

8,621,145 10,458,313

Total financial liabilities 10,160,719 11,993,821

12. EMPLOYEE BENEFITS

CURRENT

Long service leave 1,656,327 1,654,499

Annual leave 974,209 894,348

Study leave 42,020 33,217

2,672,556 ,582,064

NON-CURRENT

Long service leave 41,573 41,712

13. RESERVES

Asset revaluation reserve

Opening balance 7,370,473 7,370,473

Revaluation movement on land & buildings - -

7,370,473 7,370,473

Capital reserve 2,130,774 2,130,774

Total reserves 9,501,247 9,501,247

Asset revaluation reserve:

The most recent valuation of land and buildings amounting to $33,197,194, comprises an independent valuation conducted by Valcorp Australia Pty Ltd as at 31 December 2014.

The revaluation increment above the carrying value amounted to $1,709,678 and was credited to the asset revaluation reserve at 31 December 2014.

2017 2016

$ $


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14. CASH FLOW INFORMATION

(a) Reconciliation of cash

Cash at the end of the financial year as shown in note 4 is reconciled to items in the statement of financial position as follows:

Cash and cash equivalents 1,262,550 1,297,178

(b) Reconciliation of result for the year to cashflows from operating activities

Reconciliation of cash flow from operations with surplus for the year:

Surplus for the year 1,040,780 1,401,889

Non-cash flows in profit:

- depreciation 1,457,614 1,430,660

- net gain on disposal of property, plant and equipment (10,501) (60,973)

Changes in assets and liabilities:

- (increase)/decrease in trade and other receivables (39,740) 63,561

- decrease/(increase) in inventories 1,675 (1,112)

- (increase) in other assets (17,381) (96,155)

- increase in trade and other payables 264,979 140,875

- increase in employee benefits 90,353 147,067

Cashflow from operations 2,787,779 3,025,812

15. CAPITAL COMMITMENTS

(a) Finance Leases

Minimum lease payments:

- not later than one year 96,252 96,252

- between one year and five years 42,358 138,610

Minimum lease payments 138,610 234,862

Less: future finance changes (5,462) (14,229)

Present value of minimum lease payments 133,148 220,633

(b) Operating Leases

Minimum lease payments under non-cancellable operating leases:

- not later than one year 62,463 62,463

- between one year and five years 130,132 192,595

192,595 255,058

An operating lease was taken out in 2016 for Fuji Xerox printers. There were no additional operating leases in the current reporting period.

16. CONTINGENCIES

Contingent Liabilities

The College had the following contingent liabilities at the end of the reporting period:

Lutheran Education SA, NT & WA

Lutheran Education SA, NT & WA Inc. (“LESNW”) has undertaken to financially back the loans made by the Lutheran Laypeople’s League Inc. (“LLL”) to all Lutheran Colleges, Schools and Kindergartens, through either the SA/NT or WA District Church Councils, up to the net assets of all LESNW Institutions.

The combined asset values of all LESNW Institutions, including member Colleges, Schools and Kindergartens, are utilised by the LESNW to guarantee the loans made by the LLL to LESNW member Institutions.

It will be the responsibility of all member Colleges and Schools working together to discharge these LLL loan

2017 2016

$ $


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liabilities in the unlikely event of a College, School or Kindergarten failure. Colleges and Schools may be called upon for a special contribution or part of their future Commonwealth funding may be allocated to repaying LLL loans of a failed College, School or Kindergarten.

Commonwealth and State Capital Grants

Pursuant to the conditions attached to Commonwealth and State capital grants, the College is contingently liable to repay, based on a formula, all or part of the grants received if the project to which the funds are applied ceases to be used for the purpose approved or is sold or otherwise disposed of within 20 years of completion of the project.

The maximum amount of contingency as at 31 December 2017 was $Nil (2016 $Nil).

Other

There is a $50,000 contingent liability as at 31 December 2017 (2016 $Nil) relating to a legal matter which arose during the financial year.

17. EVENTS OCCURRING AFTER THE REPORTING DATE

No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the College, the results of those operations or the state of affairs of the College in future financial years.

18. REMUNERATION OF BOARD MEMBERS

No amounts were received or are due and receivable by the Board Members of Cornerstone College Inc. during the year ended 31 December 2017 (2016: Nil) with the exception of Advisory Members to the Council who received a salary as employees of the College.

19. COLLEGE DETAILS

The principal place of business of the College is:68 Adelaide RoadMount Barker SA 5251

The Board Members of Cornerstone College Inc. have determined that the College is not a reporting entity and that this special purpose financial report should be prepared in accordance with the accounting policies outlined in Note 1 to the financial statements.

In the opinion of the Board Members the financial report as set out on pages 3-17:

1. Presents fairly the financial position of Cornerstone College Inc as at 31 December 2017 and its performance for the year ended on that date.

2. At the date of this statement, there are reasonable grounds to believe that Cornerstone College Inc will be able to pay its debts as and when they fall due.

This statement is made in accordance with a resolution of the Board and is signed for and on behalf of the College Board by:

Board Chair: .................................... Board Member: ....................................

Name: ............................................. Name: ..................................................

Dated this .............................. day of .............................. 2018


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Cornerstone College Inc. Independent auditor’s report to members

Report on the Audit of the Financial Statements Opinion We have audited the financial report of Cornerstone College Inc. (the College), which comprises the statement of financial position as at 31 December 2017, the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes to the financial statements, including a summary of significant accounting policies, and the Statement by Board Members.

In our opinion the financial report of Cornerstone College Inc. has been prepared in accordance with Division 60 of the Australian Charities and Not-for-profits Commission Act 2012, including:

a) giving a true and fair view of the College’s financial position as at 31 December 2017 and of its financial performance for the year then ended; and

b) complying with Australian Accounting Standards to the extent described in Note 1, and Division 60 of the Australian Charities and Not-for-profits Commission Regulation 2013.

Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the College in accordance with the auditor independence requirements of the Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act) and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter – Basis of Accounting We draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been prepared for the purpose of fulfilling the College’s financial reporting responsibilities under the ACNC Act. As a result, the financial report may not be suitable for another purpose. Our opinion is not modified in respect of this matter.

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Auditor’s Independence Declaration under Section 60-40 of the Australian Charities and Not-For-Profits Commission Act 2012 to the Board Members of Cornerstone College Inc. I declare that, to the best of my knowledge and belief during the year ended 31 December 2017 there have been:

— no contraventions of the auditor independence requirements as set out in the AustralianCharities and Not-for-profits Commission Act 2012 in relation to the audit; and

— no contraventions of any applicable code of professional conduct in relation to the audit. William Buck ABN 38 280 203 274 G.W. Martinella Partner Dated this 26th day of March, 2018.

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Responsibilities of the Board Members for the Financial Report The Board Members of Cornerstone College Inc. are responsible for the preparation of the financial report that gives a true and fair view and have determined that the basis of preparation described in Note 1 to the financial report is appropriate to meet the requirements of the ACNC Act and the needs of the members. The Board Members’ responsibility also includes such internal control as the Board Members’ determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the Board Members are responsible for assessing the College’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board Members either intends to liquidate the College or to cease operations, or has no realistic alternative but to do so. The Board Members are responsible for overseeing the College’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

— Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

— Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the College’s internal control.

— Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board Members.

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— Conclude on the appropriateness of the Board Members’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the College’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the College to cease to continue as a going concern.

— Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the Board Members regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. William Buck ABN 38 280 203 274 G.W. Martinella Partner Dated this 26th day of March, 2018.

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68 Adelaide RoadMount Barker 5251South Australia(08) 8398 [email protected]

ABN 54 858 405 236

Documents

SCHOOL PERFORMANCE REPORT 2017 - Cornerstone College · A focus on the Australian Professional Standards for Teachers has sharpened the focus on teaching as a profession. There are