SHERWOOD PRIMARY SCHOOL · Sherwood Primary School Statement of Comprehensive Revenue and Expense For the year ended 31 December 2019 Notes 2019 Actual $ School 2019 Budget

SHERWOOD PRIMARY SCHOOL

GROUP ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2019 School Directory

Ministry Number:

Principal:

School Address:

School Postal Address:

School Phone:

School Email:

1481

Carolyn Crow

40 Sartors Ave, Browns Bay, Auckland, 0630

40 Sartors Ave, Browns Bay, Auckland, 0630

09-478-3024

[email protected]

Members of the Board of Trustees

Name Position How Position Occupation Term Expired/ Gained

Expires

Jane Key Carolyn Crow Lindsay Davidson Len Gao Elisabeth Large DanDan Zhu Desireee Walker Dennis Davidson

Chair Person Principal (Acting) Parent Rep Parent Rep Parent Rep Parent Rep Parent Rep Staff Rep

Elected 2019

Elected 2019 Elected 2019 Elected 2019 Elected 2019 Co-Opted 2019 Elected 2019

Nurse Practitioner

Operations Manager Self Employed - Renovation Schools Programme Assistant Chartered Accountant HairDressser Music Teacher

May-22

May-22 May-22 May-22 May-22 May-22 May-22

Accountant / Service Provider: Pauline Foster

Sherwood Primary School

Statement of Responsibility

For the year ended 31 December 2019

The Board of Trustees accepts responsibility for the preparation of the annual consolidated financial statements and the judgements used in these consolidated financial statements.

The management (including the principal and others as directed by the Board) accepts responsibility for establishing and maintaining a system of internal controls designed to provide reasonable assurance as to the integrity and reliability of the group's financial reporting.

It is the opinion of the Board and management that the consolidated annual financial statements for the financial ye ended 31 December 2019 fairly reflects the financial position and operations of the group.

The School's 2019 consolidated financial statements are authorised for issue by the Board.

Jane Devo Key Carolyn Rose Crow Full Name of Board Chairperson Full Name of Principal

— _ Signature of Board Ch on Signature of Principal

28th May 2020 28th May 2020 Date: Date:

Sherwood Primary School Consolidated Annual Report and Financial Statements Page 1

SHERWOOD PRIMARY SCHOOL

Group Annual Report - For the year ended 31 December 2019

Index

Page Statement

Financial Statement

1 Consolidated Statement of Responsibility

2 Consolidated Statement of Comprehensive Revenue and Expense

Consolidated Statement of Changes in Net Assets/Equity

4 Consolidated Statement of Financial Position

5 Consolidated Statement of Cash Flows

6 - 19 Notes to the Consolidated Financial Statements

6 - 11 Consolidated Statement of Accounting Policies

12 - 19 Other Notes and Disclosures

Other Information

20 Mission Statement

21 - 31 Analysis of Variance

32 Kiwisport

33 Statement of Resources

Sherwood Primary School Statement of Comprehensive Revenue and Expense For the year ended 31 December 2019

Notes 2019

Actual $

School 2019

Budget (Unaudited)

$

2018

Actual $

2019

Actual $

Group 2019

Budget (Unaudited)

$

2018

Actual $

Revenue Government Grants 2 4,602,808 4,375,450 4,425,817 4,673,683 4,448,615 4,496,167 Locally Raised Funds 3 350,418 307,300 310,489 797,839 826,400 775,098 Interest Earned 39,834 28,500 41,684 55,734 38,100 57,429 Gain on Sale of Property, Plant and Equipment 6,447 - 6,447 - _ International Students 4 61,717 43,500 38,935 61,717 43,500 38,935 Other Revenue - - - 52

Total revenue 5,061,224 4,754,750 4,816,925 5,595,420 5,356,615 5,367,681

Expenses Locally Raised Funds 3 123,258 139,800 119,589 168,117 187,300 162,243 International Students 4 12,699 10,000 5,728 12,699 10,000 5,728 Learning Resources 5 2,535,106 2,354,900 2,309,847 2,810,252 2,658,376 2,549,890 Administration 6 220,957 227,395 204,521 397,155 421,796 384,176 Finance 3,320 3,000 3,200 3,320 3,000 3,200 Property 7 1,962,546 1,993,300 1,986,471 1,968,699 1,998,800 1,990,309 Depreciation 8 136,139 145,000 116,608 168,585 163,325 149,130 Loss on Disposal of Property, Plant and Equipment - 5,007 1,068 - 5,007

Total expenses 4,994,025 4,873,395 4,750,971 5,529,895 5,442,597 5,249,683

Net Surplus (Deficit) for the year 67,199 (118,645) 65,954 65,525 (85,982) 117,998

Other Comprehensive Revenue and Expenses

Total Comprehensive Revenue and Expense for the Year 67,199 (118,645) 65,954 65,525 (85,98) 117,998

The above Consolidated Statement of Comprehensive Revenue and Expense should be read in conjunction with the accompanying notes which form part of these financial statements.

Sherwood Primary School Consolidated Annual Report and Financial Statements

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Sherwood Primary School Statement of Changes in Net Assets/Equity For the year ended 31 December 2019

School Group Budget Budget Actual Actual (Unaudited) (Unaudited)

2019 2019 $

2018 $

2019 5

2019 5

2018

Balance at 1 January 1,800,303 1,841,800 1,729,495 2,359,599 2,348,800 2,236,747

Adjustment to Accumulated surplus/(deficit) from adoption of PBE IFRS 9 Adjusted balance at 1 January 1,800,303 1,841,800 1,729,495 2,359,599 2,348,800 2,236,747

Total comprehensive revenue and expense for the year 67,199 (118,645) 65,954 65,525 (85,982) 117,998 Capital Contributions from the Ministry of Education

Contribution - Furniture and Equipment Grant - 4,854 4,854

Equity at 31 December 24 1,867,502 1,723,155 1,800,303 2,425,124 2,262,818 2,359,599

Retained Earnings 1,867,502 1,723,155 1,800,303 2,425,124 2,262,818 2,359,599

Equity at 31 December 1,867,502 1,723,155 1,800,303 2,425,124 2,262,818 2,359,599

Reserve Movements Analysis

Accumulated surplus/(deficit) Balance at 1 January 1,800,303 1,841,800 1,729,495 2,359,599 2,348,800 2,236,747

Adjustment to Accumulated surplus/(deficit) from adoption of PBE IFRS 9 Adjusted balance at 1 January 1,800,303 1,841,800 1,729,495 2,359,599 2,348,800 2,236,747

Furniture & Equipment grant 4,854 4,854 Surplus/(deficit) for the year 67,199 (118,645) 65,954 65,525 (85,982) 117,998

Balance 31 December 1,867,502 1,723,155 1,800,303 2,425,124 2,262,818 2,359,599

Equity investment revaluation reserves Balance at 1 January Net change in fair value Transfer to accumulated surplus/deficit on disposal

Balance 31 December

Total equity 1,867,502 1,723,155 1,800,303 2,425,124 2,262,818 2,359,599

The above Consolidated Statement of Changes in Net Assets/Equity should be read in conjunction with the accompanying notes which form part of these financial statements.

Notes

Actual Actual

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Sherwood Primary School Statement of Financial Position As at 31 December 2019

Notes 2019

Actual $

School 2019

Budget (Unaudited)

$

2018

Actual $

2019

Actual $

Group 2019

Budget (Unaudited)

$

2018

Actual $

Current Assets Cash and Cash Equivalents 9 29,004 28,605 352,221 38,976 49,305 433,748 Accounts Receivable 10 189,033 206,000 255,853 174,514 218,000 179,523 GST Receivable 17,470 6,300 6,376 17,470 6,300 6,376 Prepayments 13,907 18,400 18,380 13,907 18,400 19,571 Inventories 11 _ - 225 - 4,571 Investments 12 1,261,023 1,002,000 702,644 1,761,023 1,462,000 1,163,702

1,510,437 1,261,305 1,335,474 2,006,115 1,754,005 1,807,491

Current Liabilities GST Payable - - 37,321 35,000 34,747 Accounts Payable 14 262,016 213,100 218,049 302,121 324,137 256,230 Revenue Received in Advance 15 102,291 24,000 24,293 147,072 81,000 74,269 Provision for Cyclical Maintenance 16 88,812 90,000 120,175 88,812 90,000 120,175 Finance Lease Liability- Current Portion 17 15,786 14,964 15,786 . 14,964 Funds held for Capital Works Proiects 18 944 950 944 944 950 944

469,849 328,050 378,425 592,056 531,087 501,329

Working Capital Surplus/(Deficit) 1,040,588 933,255 957,049 1,414,059 1,222,918 1,306,162

Non-current Assets Property, Plant and Equipment 13 889,932 848,500 896,936 1,074,083 1,058,500 1,107,119

889,932 848,500 896,936 1,074,083 1,058,500 1,107,119

Non-current Liabilities Provision for Cyclical Maintenance 16 49,000 58,600 28,550 49,000 58,600 28,550 Finance Lease Liability 17 14,018 25,132 14,018 25,132

63,018 58,600 53,682 63,018 58,600 53,682

Net Assets 1,867,502 1,723,155 1,800,303 2,425,124 2,222,818 2,359,599

Equity: Accumulated surplus/deficit 1,867,502 1,723,155 1,800,303 2,425,124 2,262,818 2,359,599

Total equity 1,867,502 1,723,155 1,800,303 2,425,124 2,262,818 2,359,599

The above Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes which form part of these financial statements.

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Sherwood Primary School Statement of Cash Flows For the year ended 31 December 2019

Notes 2019

Actual $

School 2019

Budget (Unaudited)

$

2018

Actual $

2019

Actual $

Group 2019

Budget (Unaudited)

$

2018

Actual $

Cash flows from Operating Activities Government Grants 737,324 2,481,750 683,936 827,531 3,078,915 751,268 Locally Raised Funds 418,725 267,300 243,540 873,133 822,400 780,014 International Students 143,478 67,500 41,957 143,478 67,500 41,957 Goods and Services Tax (net) (11,094) (6,300) 3,358 (8,520) 28,700 2,607 Payments to Employees (578,170) (496,100) (481,597) (957,653) (885,227) (844,208) Payments to Suppliers (338,980) (420,095) (394,400) (547,008) (510,808) (471,417) Cyclical Maintenance Payments in the year (30,282) 123,600 22,079 (30,282) 123,600 22,079 Interest Paid (3,320) (3,000) (3,200) (3,320) (3,000) (3,200) Interest Received 30,461 8,500 40,121 45,852 10,100 52,646

Net cash from /(10) the Operating Activities 368,142 2,023,155 155,794 343,011 2,732,180 331,746

Cash flows from Investing Activities Proceeds from Sale of PPE (and Intangibles) 6,447 15,995 5,379 15,995 Purchase of PPE (and Intangibles) (125,049) (948,500) (498,678) (131,463) (1,176,825) (588,257) Purchase of Investments (558,379) (1,002,000) 147,356 (597,321) (1482,000) 96,299

Net cash from / (to) the Investing Activities (676,981) (1,950,500) (335,327) (723,405) (2,638,825) (475,963)

Cash flows from Financing Activities Furniture and Equipment Grant - . 4,854 - - 4,854 Finance Lease Payments (14,378) (45,000) 9,437 (14,378) (45,000) 9,437 Funds Held for Capital Works Projects 18 - 950 950

Net cash from Financing Activities (14,378) (44,050) 14,291 (14,378) (44,050) 14,291

Net increase/(decrease) in cash and cash equivalents (323,217) 28.605 (165,242) (394,772) 49.305 (129.926)

Cash and cash equivalents at the beginning of the year 352,221 517,463 433,748 563,674

Cash and cash equivalents at the end of the year 9 29,004 28,605 352,221 38,976 49,305 433,748

The Consolidated Statement of Cash Flows records only those cash flows directly within the control of the School This means centrally funded teachers' salaries and the use of land and buildings grant and expense have been omitted.

The above Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes which form part of these financial statements.

Sherwood Primary School Consolidated Annual Report and Financial Statements

Sherwood Primary School Notes to the Group Financial Statements For the year ended 31 December 2019

1. Statement of Accounting Policies

a) Reporting Entity Sherwood Primary School is a Crown entity as specified in the Crown Entities Act 2004 and a school as described in the Education Act 1989. The Sherwood Primary School Group (the "Group") consists of Sherwood Primary School and its controlled entity BASC (Before and After School Care). The controlled entity supports the school.

b) Basis of Preparation Reporting Period The financial reports have been prepared for the period 1 January 2019 to 31 December 2019 and in accordance with the requirements of the Public Finance Act 1989.

Basis of Preparation The consolidated financial statements have been prepared on a going concern basis, and the accounting policies have been consistently applied throughout the period.

Basis of Consolidation The group financial statements are prepared by adding together like items of assets, liabilities, equity, revenue, expenses, and cash flows of entities in the group on a line-by-line basis. All intra-group balances, transactions, revenue, and expenses are eliminated on consolidation.

Details of controlled entity is set out in Note 26.

Financial Reporting Standards Applied The Education Act 1989 requires the School, as a Crown entity, to prepare financial statements in accordance with generally accepted accounting practice. The consolidated financial statements have been prepared in accordance with generally accepted accounting practice in New Zealand, applying Public Sector Public Benefit Entity (PBE) Standards Reduced Disclosure Regime as appropriate to public benefit entities that qualify for Tier 2 reporting. The Group is considered a Public Benefit Entity as it meets the criteria specified as "having a primary objective to provide goods and/or services for community or social benefit and where any equity has been provided with a view to supporting that primary objective rather than for financial return to equity holders".

Standard early adopted In line with the Financial Statements of the Government, the school has elected to early adopt PBE IFRS 9 Financial Instruments. PBE IFRS 9 replaces PBE IPSAS 29 Financial Instruments: Recognition and Measurement. Information about the adoption of PBE IFRS 9 is provided in Note 29.

PBE Accounting Standards Reduced Disclosure Regime The Group qualifies for Tier 2 as the group is not publicly accountable and is not considered large as it falls below the expenditure threshold of $30 million per year. All relevant reduced disclosure concessions have been taken.

Measurement Base The consolidated financial statements are prepared on the historical cost basis unless otherwise noted in a specific accounting policy.

Sherwood Primary School Consolidated Annual Report and Financial Statements Page 6 MO AUCKLAND

Presentation Currency These consolidated financial statements are presented in New Zealand dollars, rounded to the nearest dollar.

Specific Accounting Policies The accounting policies used in the preparation of these consolidated financial statements are set out below.

Critical Accounting Estimates And Assumptions The preparation of consolidated financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Useful lives of property, plant and equipment The Group reviews the estimated useful lives of property, plant and equipment at the end of each reporting date. The Group believes that the estimated useful lives of the property, plant and equipment as disclosed in the Significant Accounting Policies are appropriate to the nature of the property, plant and equipment at reporting date. Property, plant and equipment is disclosed at note 13.

Critical Judgements in applying accounting policies Management has exercised the following critical judgements in applying accounting policies:

Classification of leases Determining whether a lease is a finance lease or an operating lease requires judgement as to whether the lease transfers substantially all the risks and rewards of ownership to the school. Judgement is required on various aspects that include, but are not limited to, the fair value of the leased asset, the economic life of the leased asset, whether or not to include renewal options in the lease term, and determining an appropriate discount rate to calculate the present value of the minimum lease payments. Classification as a finance lease means the asset is recognised in the statement of financial position as property, plant, and equipment, whereas for an operating lease no such asset is recognised.

Consolidation of entities The Group consolidates entities based on whether the School has established control over the entity. The entity which is controlled are disclosed at Note 26.

c) Revenue Recognition

Government Grants The Group receives funding from the Ministry of Education. The following are the main types of funding that the School receives;

Operational grants are recorded as revenue when the Group has the rights to the funding, which is in the year that the funding is received.

Teachers salaries grants are recorded as revenue when the Group has the rights to the funding in the salary period they relate to. The grants are not received in cash by the Group and are paid directly to teachers by the Ministry of Education.

Grants for the use of land and buildings are also not received in cash by the Group as they equate to the deemed expense for using the land and buildings which are owned by the Proprietor. Use of land and building grants are recorded as income in the period the school uses the land and building.

r 0 Sherwood Primary School Consolidated Annual Report and Financial Statements

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Other Grants Other grants are recorded as revenue when the Group has the rights to the funding, unless there are unfulfilled conditions attached to the grant, in which case the amount relating to the unfulfilled conditions is recognised as a liability and released to revenue as the conditions are fulfilled.

Donations, Gifts and Bequests Donations, gifts and bequests are recorded as revenue when their receipt is formally acknowledged by the Group.

Interest Revenue Interest Revenue earned on cash and cash equivalents and investments is recorded as revenue in the period it is earned.

d) Use of Land and Buildings Expense The property from which the Group operates is owned by the Crown and managed by the Ministry of Education on behalf of the Crown. The Group's use of the land and buildings as occupant is based on a property occupancy document as gazetted by the Ministry. The expense is based on an assumed market rental yield on the value of land and buildings as used for rating purposes. This is a non-cash expense that is offset by a non-cash grant from the Ministry.

e) Operating Lease Payments Payments made under operating leases are recognised in the Consolidated Statement of Comprehensive Revenue and Expense on a straight line basis over the term of the lease.

f) Finance Lease Payments Finance lease payments are apportioned between the finance charge and the reduction of the outstanding liability. The finance charge is allocated to each period during the lease term on an effective interest basis.

g) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, bank balances, deposits held at call with banks, and other short term highly liquid investments with original maturities of 90 days or less, and bank overdrafts. The carrying amount of cash and cash equivalents represent fair value.

h) Accounts Receivable Short-term receivables are recorded at the amount due, less an allowance for credit losses. The school applies the simplified expected credit loss model of recognising lifetime expected credit losses for receivables. In measuring expected credit losses, short-term receivables have been assessed on a collective basis as they possess shared credit risk characteristics. They have been grouped based on the days past due. Short-term receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include the debtor being in liquidation.

Prior Year Policy Accounts Receivable represents items that the Group has issued invoices for or accrued for, but has not received payment for at year end. Receivables are initially recorded at fair value and subsequently recorded at the amount the Group realistically expects to receive. A receivable is considered uncollectable where there is objective evidence the Group will not be able to collect all amounts due. The amount that is uncollectable (the provision for un-collectability) is the difference between the amount due and the present value of the amounts expected to be collected.

i) Inventories Inventories are consumable items held for sale and comprise of school uniforms. They are stated at the lower of cost and net realisable value. Cost is determined on a first in, first out basis. Net realisable value is the estimated selling price in the ordinary course of activities less the estimated costs necessary to make the sale. Any write down from cost to net realisable value is recorded as an expense in the Consolidated Statement of Comprehensive Revenue and Expense in the period of the write down.

Sherwood Primary School Consolidated Annual Report and Financial Statements Page 8 BOO AUCKLAND

j) Investments Bank term deposits are initially measured at the amount invested. Interest is subsequently accrued and added to the investment balance. A loss allowance for expected credit losses is recognised if the estimated loss allowance is not trivial.

Prior Year Policy Bank term deposits for periods exceeding 90 days are classified as investments and are initially measured at the amount invested. Interest is subsequently accrued and added to the investment balance. After initial recognition bank term deposits are measured at amortised cost using the effective interest method less impairment.

The Group has met the requirements of Schedule 6 para 28 of the Education Act 1989 in relation to the acquisition of investment securities.

k) Property, Plant and Equipment Land and buildings owned by the Crown are excluded from these consolidated financial statements. The Board's use of the land and buildings as occupant' is based on a property occupancy document.

Improvements to buildings owned by the Crown are recorded at cost, less accumulated depreciation and impairment losses.

Property, plant and equipment are recorded at cost or, in the case of donated assets, fair value at the date of receipt, less accumulated depreciation and impairment losses. Cost or fair value as the case may be, includes those costs that relate directly to bringing the asset to the location where it will be used and making sure it is in the appropriate condition for its intended use.

Property, plant and equipment acquired with individual values under $1,000 are not capitalised, they are recognised as an expense in the Consolidated Statement of Comprehensive Revenue and Expense.

Gains and losses on disposals (i.e. sold or given away) are determined by comparing the proceeds received with the carrying amounts (i.e. the book value). The gain or loss arising from the disposal of an item of property, plant and equipment is recognised in the Consolidated Statement of Comprehensive Revenue and Expense.

Finance Leases A finance lease transfers to the lessee substantially all the risks and rewards incidental to ownership of an asset, whether or not title is eventually transferred. At the start of the lease term, finance leases are recognised as assets and liabilities in the statement of financial position at the lower of the fair value of the leased asset or the present value of the minimum lease payments. The finance charge is charged to the surplus or deficit over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability. The amount recognised as an asset is depreciated over its useful life. If there is no reasonable certainty whether the school will obtain ownership at the end of the lease term, the asset is fully depreciated over the shorter of the lease term and its useful life.

Sherwood Primary School Consolidated Annual Report and Financial Statements Page 9 IIDOAUCKLAND

Depreciation Property, plant and equipment except for library resources are depreciated over their estimated useful lives on a straight line basis. Library resources are depreciated on a diminishing value basis. Depreciation of all assets is reported in the Consolidated Statement of Comprehensive Revenue and Expense.

The estimated useful lives of the assets are: Building improvements to Crown Owned Assets Furniture and equipment Information and communication technology Leased assets held under a Finance Lease Library resources

10-50 years 10-20 years 4-8 years 3-5 years

12.5% Diminishing value

I) Impairment of property, plant, and equipment The Group does not hold any cash generating assets. Assets are considered cash generating where their primary objective is to generate a commercial return.

Non cash generating assets Property, plant, and equipment held at cost that have a finite useful life are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable service amount. The recoverable service amount is the higher of an asset's fair value less costs to sell and value in use.

Value in use is determined using an approach based on either a depreciated replacement cost approach, restoration cost approach, or a service units approach. The most appropriate approach used to measure value in use depends on the nature of the impairment and availability of information.

If an asset's carrying amount exceeds its recoverable service amount, the asset is regarded as impaired and the carrying amount is written down to the recoverable amount. The total impairment loss is recognised in the surplus or deficit.

The reversal of an impairment loss is recognised in the surplus or deficit.

m) Accounts Payable Accounts Payable represents liabilities for goods and services provided to the Group prior to the end of the financial year which are unpaid. Accounts Payable are recorded at the amount of cash required to settle those liabilities. The amounts are unsecured and are usually paid within 30 days of recognition.

n) Employee Entitlements Short-term employee entitlements Employee benefits that are due to be settled within 12 months after the end of the period in which the employee renders the related service are measured based on accrued entitlements at current rates of pay. These include salaries and wages accrued up to balance date, annual leave earned to but not yet taken at balance date.


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o) Revenue Received in Advance Revenue received in advance relates to fees received from international, activities and grants received where there are unfulfilled obligations for the Group to provide services in the future. The fees are recorded as revenue as the obligations are fulfilled and the fees earned.

The Group holds sufficient funds to enable the refund of unearned fees in relation to international students, should the Group be unable to provide the services to which they relate.

p) Provision for Cyclical Maintenance The property from which the Group operates is owned by the Crown, and is vested in the Ministry. The Ministry has gazetted a property occupancy document that sets out the Board's property maintenance responsibilities. The Board is responsible for maintaining the land, buildings and other facilities on the Group sites in a state of good order and repair.

Cyclical maintenance, which involves painting the interior and exterior of the Group, makes up the most significant part of the Board's responsibilities outside day-to-day maintenance. The provision for cyclical maintenance represents the obligation the Board has to the Ministry and is based on the Board's ten year property plan (10YPP).

q) Financial Assets and Liabilities The Group's financial assets comprise cash and cash equivalents, accounts receivable, and investments. All of these financial assets, except for investments that are shares, are categorised as "loans and receivables" for accounting purposes in accordance with financial reporting standards.

The Group's financial liabilities comprise accounts payable and finance lease liability. All of these financial liabilities are categorised as "financial liabilities measured at amortised cost" for accounting purposes in accordance with financial reporting standards.

r) Goods and Services Tax (GST) The consolidated financial statements have been prepared on a GST exclusive basis, with the exception of accounts receivable and accounts payable which are stated as GST inclusive.

The net amount of GST paid to, or received from, the IRD, including the GST relating to investing and financing activities, is classified as a net operating cash flow in the consolidated statements of cash flows.

Commitments and continaencies are disclosed exclusive of GST.

s) Budget Figures The budget figures are extracted from the Group budget that was approved by the Board at the start of the year.

t) Services received in-kind From time to time the Group receives services in-kind, including the time of volunteers. The Group has elected not to recognise services received in kind in the Consolidated Statement of Comprehensive Revenue and Expense.

Sherwood Primary School Consolidated Annual Report and Financial Statements Page 11 BDO AUCKLAND

2019

Actual 5

School 2019

Budget (Unaudited)

5

2018

Actual 5

2019

Actual 5

Operational Grants 574,337 523,795 518,158 574,337 Teachers' Salaries Grants 2,101,708 1,960,000 1,966,406 2,101,708 Use of Land and Buildings Grants 1,763,776 1,775,500 1,775,475 1,763,776 Resource Teachers Learning and Behaviour Grants 140,966 107,155 115,631 140,966 Other MoE Grants 22,021 9,000 50,147 22,021 Other Government Grants - . - 70,875

4,602,808 4,375,450 4,425,817 4,673,683

3. Locally Raised Funds

Local funds raised within the Group's community are made UP of: School

2019 2019 2018 2019 Budget

Actual (Unaudited) Actual Actual

Group 2019 2018

Budget

(Unaudited) Actual 5 5

523,795 518,158

1,960,000 1,966,406

1,775,500 1,775,475

107,155 115,631

9,000 50,147

73,165 70,350

4,448,615 4,496,167

Group 2019 2018

Budget (Unaudited) Actual

2. Government Grants

Revenue $ 5 5 5 $ $

Donations 101,712 86,500 105,815 101,712 86,500 105,815 Fundraising 12,222 10,000 2,360 12,222 10,000 2,360 Other Revenue 55,129 44,500 56,506 429,516 494,500 455,663 Trading 33,682 28,000 22,415 77,040 73,100 63,702 Activities 147,673 138,300 123,393 177,349 162,300 147,558

350,418 307,300 310,489 797,839 826.400 775,098

Expenses Activities 122,151 138,300 118,768 122,151 138,300 118,768 Trading 35 44,894 47,500 42,654 Fundraising (Costs of Raising Funds) 1,072 1,500 821 1,072 1,500 821

123,258 139,800 119,589 168,117 187,300 162,243

Surplus for the year Locally raised funds 227,160 167,500 190,900 629,722 639,100 612,855

4. International Student Revenue and Expenses

International Student Roll

School Group 2019 2019 2018 2019 2019 2018

Budget Budget Actual (Unaudited) Actual Actual (Unaudited) Actual

Number Number Number Number Number Number 6 4 4 6 4 4

School Group 2019 2019 2018 2019 2019 2018


Revenue 5 $ $ 5 $ 5

International Student Fees 61,717 43,500 38,935 61,717 43,500 38,935

Expenses Commissions 9,963 8,000 4,096 9,963 8,000 4,096 Recruitment 215 215 International Student Levy 1,291 1,000 1,307 1,291 1,000 1,307 Other Expenses 1,445 1,000 110 1,445 1,000 110

12,699 10,000 5,728 12,699 10,000 5,728

Surplus/ (Deficit) for the year International Students' 49,018 33,500 33,207 49,018 33,500 33,207

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5. Learning Resources

2019

Actual 5

School 2019

Budget (Unaudited)

5

2018

Actual $

2019

Actual $

Group 2019

Budget (Unaudited)

5

2018

Actual $

Curricular 27,602 36,600 25,413 49.037 60,200 43,836 Equipment Repairs 5,055 4,050 2,699 5,055 4,050 2,699 Information and Communication Technology 15,059 19,500 15,059 15,059 19,500 15,059 Extra-Curricular Activities . - 12,532 16,000 11,860 Library Resources 2,696 2,850 2,506 2,696 2,850 2,506 Employee Benefits-Salaries 2,462,440 2,265,600 2,250,065 2,691,221 2,519,476 2,458,379 Staff Development 22,254 26,300 14,105 34,652 36,300 15,551

2,535,106 2,354,900 2,309,847 2.810,252 2,658,376 2,549,890

6. Administration

School Group 2019 2019 2018 2019 2019 2018


5 5 5 5 0 5

Audit Fee 8,745 8,745 8,490 11,608 11,445 11.970 Board of Trustees Fees 4.580 6,200 5,150 4,580 6,200 5,150 Board of Trustees Expenses 18,877 25,100 15280 18,877 25,100 15,280 Communication 4,313 4,000 3,939 5,701 5,700 5,459 Consumables 24,020 24,950 26,426 32,643 34,950 34,932 Other 4,798 10,300 6,012 15,602 21,050 15,857 Employee Benefits - Salaries 146,849 139,500 131,527 299,369 308,751 287,831 Insurance 8,775 8,600 7,697 8,775 8,600 7,697

220,957 227.395 204,521 397,155 421,796 384,176

7. Property

School Group 2019 2019 2018 2019 2019 2018


5 $ $ $ $ 5

Caretaking and Cleaning Consumables 5,726 7,500 7,621 5,726 7,500 7,621 Consultancy and Contract Services 40,000 60,000 40,000 40,000 60,000 40,000 Cyclical Maintenance Provision 19,369 25,000 31,749 19.369 25,000 31,749 Grounds 3,715 3,000 2,522 3,715 3,000 2,522 Neat, Light and Water 28,574 24,000 24,781 32,616 26,800 27,157 Rates 92 100 44 92 100 44 Repairs and Maintenance 11,471 21,200 10,725 13,041 23,400 11,920 Use of Land and Buildings 1,763,776 1,775,500 1,775,475 1,763,776 1,775,500 1,775,475 5YA Plan, Building Expenses 9,057 15,414 9,057 15,414 Security 6,357 7,000 9,198 6,898 7,500 9,465 Employee Benefits - Salaries 74,409 70,000 68,942 74,409 70,000 68,942

1,962,546 1,993,300 1,986,471 1,968,699 1,998,800 1,990,309

The use of land and buildings figure represents 8% of the Group's total property value. This is used as a 'proxy' for the market rental of the property. Property values are established as part of the nation-wide revaluation exercise that is conducted every 30 June for the Ministry of Education's year-end reporting purposes.

8. Depreciation

2019

Actual $

School 2019

Budget (Unaudited)

$

2018

Actual $

2019

Actual $

Group 2019

Budget (Unaudited)

$

2018

Actual 5

Buildings-School 40,460 18,000 31,712 54,980 28,000 45,607 Furniture and Equipment 52,872 59,000 40,575 70,300 66,825 58,420 Information and Communication Technology 23,681 45,000 26217 24,179 45,500 27,099 Leased Assets 16,088 18,000 14,737 16,088 18,000 14,737 Library Resources 3,038 5,000 3,267 3,038 5,000 3,267

136,139 145,000 116,608 168,585 163,325 149,130

Sherwood Primary School Consolidated Annual Report and Financial Statements BDO AUCKLAND Page 13

9. Cash and Cash Equivalents

School Group 2019 2019 2018 2019 2019 2018


$ $ 5 $ $ $

Cash on Hand 250 250 250 610 610 610 Bank Current Account 28,754 28,355 301,764 38540 48555 382,606 Bank Call Account - - 50,207 326 340 50,532

Cash equivalents and bank overdraft for Consolidated Cash Flow Statement 29.004 28.605 352 221 38.976 49505 433.748

The carrying value of short-term deposits with maturity dates of 90 days or less approximates their fair value.

The following notes should be used where applicable:

Of the $38976 (2018:$433,748) of the schools Cash and Cash Equivalents, $944 (2018: $944) is held by the Group on behalf of the Ministry of Education. These funds are required to be spent in 2020 on Crown owned Group buildings under the Group's Five Year Property Plan.

10. Accounts Receivable

2019

Actual $

School 2019

Budget (Unaudited)

$

2018

Actual $

2019

Actual 5

Group 2019

Budget (Unaudited)

5

2018

Actual $

Receivables 27,210 40,000 99,280 4,099 44,000 15,067 Interest Receivable 19520 20,000 10547 28512 28,000 18,430 Teacher Salaries Grant Receivable 141,903 146,000 146,026 141,903 146,000 146,026

189,033 206,000 255,853 174,514 218,000 179,523

Receivables from Exchange Transactions 47,130 60,000 109,827 32,611 72500 33,497 Receivables from Non-Exchange Transactions 141,903 146,000 146,026 141,903 146,000 146,026

189,033 206,000 255,853 174,514 218,000 179523

11. Inventories

School Group 2019 2019 2018 2019 2019 2018


$ $ $ 5 $ $

School Uniforms

225 4,571

225 4,571

12. Investments

The Grouo and School's investment's are classified as follows: School Group

2019 2019 2018 2019 2019 2018 Budget Budget

Actual (Unaudited) Actual Actual (Unaudited) Actual 5 5 5 5 5 5

Current Asset Short-term Bank Deposits 1,261,023 1,002,000 702,644 1,761,023 1,462,000 1,163,702

1,261523 1,002,000 702,644 1,761,023 1,462,000 1,163,702

Total Investments 1,261,023 1,002,000 702,644 1,76t023 1,462,000 1,163,702

Lr --- 0 Sherwood Primary School Consolidated Annual Report and Financial Statements

BDO AUCKLAND Page 14

13. Property. Plant and Eauipment

GROUP

Opening

Balance (NBV) Additions Disposals Impairment Depreciation Total (NBV) 2019 $ $

Buildings 583,443 - - (54,980) 528,463 Furniture and Equipment 403.304 84,637 (1,030) (70,300) 416,611 Information and Communication

60,012 45,116 (134) (24,179) 80,815 Technology Leased Assets 37,488 5,609 (84) (16,088) 26,925 Library Resources 22872 2082, (647) (3,038) 21,269

Balance at 31 December 2019

1 107 119 137 444 115951

1168 5851 1 074 083

GROUP

2019

Cost or Accumulated Valuation Depreciation Net Book Value

$

Buildings 1,046,689 (518.226) 528,463 Furniture and Equipment 887,465 (470,854) 416,611 Information and Communication Technology 277,736 (196,921) 80,815 Leased Assets 56,383 (29,458) 26,925 Library Resources 86,630 (65,361) 21,269

Balance at 31 December 2019 2,354.903 (1,280.820) 1,074,083

The net carrying value of equipment held under finance lease is 526,925(2018: $37,488)

GROUP

Opening Balance (NBV) Additions Disposals Impairment Depreciation Total (NBV)

2018 $ $

Buildings 490,356 138,694 (45,607) 583,443 Furniture and Equipment 103,286 366,611 (8.173) (58,420) 403,304 Information and Communication 60,012 (27,099) Technology 42,090 45,687 (666) Leased Assets 13,282 38,943 (14,737) 37,488 Library Resources 23,929 3,260 (1,050) (3,267) 22,872

Balance at 31 December 2018 672943 593,195 (9,889) (149,1301 1,107,119

GROUP Cost or Accumulated Net Book Value Valuation Depreciation

2018 S $ $

Buildings 1,046,689 (463,246) 583,443 Furniture and Equipment 820,080 (416,776) 403,304 Information and Communication Technology 363,146 (303,134) 60,012 Leased Assets 52,297 (14,809) 37,488 Library Resources 86,867 (63,995) 22,872

Balance at 31 December 2018

2,369,079 (1,261,960) 1,107,119


SCHOOL

Opening Balance (NBV) Additions Disposals

2019 Impairment Depreciation Total (NBV)

Buildings 458,099 (40,460) 417,639 Furniture and Equipment 319,677 77,155 (52,872) 343,960 Information and Communication

58,800 45,116 Technology (96) (23,681) 80,139

Leased Assets 37,488 5,609 (84) (16,088) 26,925 Library Resources 22,872 2,082 (647) (3,038) 21,269

Balance at 31 December 2019 896,936 129,962 (827) (136,139) 889,932

Accumulated Depreciation

SCHOOL Cost or Valuation

Accumulated Depreciation Net Book Value

2019 5

Buildings 756,281 (338,642) 417,639 Furniture and Equipment 713,223 (369,263) 343,960 Information and Communication Technology 267,620 (187,481) 80,139 Leased Assets 56,383 (29,458) 26,925 Library Resources 86,630 (65,361) 21,269

Balance at 31 December 2019 1,880,137 (990,205) 889,932

The net carrying value of equipment held under finance lease is $26,925 (2018: $37,488)

SCHOOL

Opening Balance (NBV) Additions Disposals Impairment Depreciation Total (NBV)

2018 $ $ $ $ 5 $

Buildings 363,617 126,194 (31,712) 458,099 Furniture and Equipment 78,893 289,532 (8,173) (40,575) 319,677 Information and Communication 58,800 Tech noloeV 40,096 45,687 (666) (26,317) Leased Assets 13,282 38,943 (14,737) 37,488 Library Resources 23,929 3,260 (1,050) (3,267) 22,872

Balance at 31 December 2018 519,817 503,616 (9,889) (116,608) 896,936

Accumulated Depreciation

SCHOOL Cost or Accumulated Valuation Depreciation Net Book Value

2018 $

Buildings 756,281 (298,182) 458,099 Furniture and Equipment 643,670 (323,993) 319,677 Information and Communication Technology 339,522 (280,722) 58,800 Leased Assets 52,297 (14,809) 37,488 Library Resources 86,867 (63,995) 22,872

Balance at 31 December 2018 1,878,637 (9111 ,701) 696,936

14. Accounts Payable

School Group 2019 2019 2018 2019 2019 2018


5 $ 5 5 5 5

Operating Creditors 91,223 42,000 45,008 93,031 116,537 46.481 Accruals 6,545 6,100 8,490 8,808 8,600 10,982 Employee Entitlements - Salaries 141,903 146,000 146,026 141,903 146,000 146,026 Employee Entitlements - Leave Accrual 22,345 19,000 18,525 58,379 53,000 52,741

262,016 213,100 216,049 302,121 324,137 256,230

Payables for Exchange Transactions 262,016 213,100 218,049 302,121 324,137 256,230

262,016 213,100 218,049 302,121 324 137 256.230

The carrying value of payables approximates their fair value.


IS. Revenue Received in Advance

2019

Actual 5

School 2019

Budget (Unaudited)

$

2018

Actual $

2019

Actual 5

Group 2019

Budget (Unaudited)

$

2018

Actual 5

Grants in Advance -Ministry of Education - - . 17,719 17,000 17,719 International Student Fees 92,391 24,000 10,630 92,391 24,000 10,630 Other 9,900 13,663 36,962 40,000 45,920

102,291 24,000 24,293 147,072 81,000 74,269

16. Provision for Cyclical Maintenance

2019

Actual 5

School and Group 2019

Budget (Unaudited)

5

2018

Actual 5

Provision at the Start of the Year 148,725 148,725 126,646 Increase/ (decrease) to the Provision During the Year 19,369 31,749 Use of the Provision During the Year (30,282) (1251 (9,670)

Provision at the End of the Year 137,812 148,600 148,725

Cyclical Maintenance - Current 88,812 90,000 120,175 Cyclical Maintenance - Term 49,000 58,600 28,550

137,812 148,600 148,725

17. Finance Lease Liability

The Group has entered into a number of finance lease agreements for computers and other ICT equipment. Minimum lease payments payable:

2019

Actual $

School 2019 2018

Budget (Unaudited) Actual

5 5

Group 2019 2019

Budget Actual (Unaudited)

$ 5

2018

Actual 5

No Later than One Year 17,925 14,965 17,925 14,965 Later than One Year and no Later than Five Years 15,166 25,131 15,166 25,131

33,091 40,096 33,091 40,096

18. Funds Held for Capital Works Projects

Dunnq the year the School and Group received and applied funding from the Ministry of Education for the following capital works projects:

School and GROUP

2019 Opening Receipts Balances from MoE

5 5

BOT Closing Payments Contributions Balances

5 $ 5YP - Pohutuakawa Block in progress 944 - 944

Totals 944 944

Represented by: Funds Held on Behalf of the Ministry of Education 944 Funds Due from the Ministry of Education

944

Opening Receipts Closing

2018 Balances from MoE Payments Balances 5 5 5

5YP - Pohutuakawa Block in progress 944 944

Totals 944

r Sherwood Primary School Consolidated Annual Report and Financial Statements BOO AUCK1AND Page 17

19. Related Party Transactions

The Group is a controlled entity of the Crown, and the Crown provides the major source of revenue to the Group. The Group enters into transactions with other entities also controlled by the Crown, such as government departments, state-owned enterprises and other Crown entities. Transactions with these entities are not disclosed as they occur on terms and conditions no more or less favourable than those that it is reasonable to expect the Group would have adopted if dealing with that entity at arm's length.

Related party disclosures have not been made for transactions with related parties that are within a normal supplier or client/recipient relationship on terms and condition no more or less favourable than those that it is reasonable to expect the Group would have adopted in dealing with the party at arm's length in the same circumstances. Further, transactions with other government agencies (for example, Government departments and Crown entities) are not disclosed as related party transactions when they are consistent with the normal operating arrangements between government agencies and undertaken on the normal terms and conditions for such transactions.

20. Remuneration

Key management personnel compensation (School and Group)

Key management personnel of the Group include all School trustees of the Board, Principal, Deputy Principals and Heads of Departments.

Board Members - School

2019 Actual

2018 Actual

Remuneration 4,580 5,150 Full-time equivalent members 0.40 0.40

Leadersht. Team Remuneration 505,425 396,000 Full-time equivalent members 6 5

Total key management personnel remuneration 510,005 401,150 Total full-time equivalent personnel 6.40 5.40

The full time equivalent for Board members has been determined based on attendance at Board meetings, Committee meetings and for other obligations of the Board, such as stand downs and suspensions, plus the estimated time for Board members to prepare for meetings.

Principal The total value of remuneration paid or payable to the Principal was in the following bands:

Salaries and Other Shod-term Employee Benefits: Salary and Other Payments

Other Employees The number of other employees with remuneration greater than $100,000 was in the following bands:

2019 2018 Actual Actual $000 $000

120-130 130-140

Remuneration 2019 2018 $000 FTE Number FTE Number

100-110

0.00 0.00

The disclosure for 'Other Employees' does not include remuneration of the Principal.

21. Compensation and Other Benefits Upon Leaving

The total value of compensation or other benefits paid or payable to persons who ceased to be trustees, committee member, or employees during the financial year in relation to that cessation and number of persons to whom all or part of that total was payable was as follows:

2019 2018 School and GROUP Actual Actual Total $0 $0 Number of People 5 5

22. Contingencies

There are no contingent liabilities and no contingent assets as at 31 December 2019 (Contingent liabilities and assets at 31 December 2018: nil).

Holidays Act Compliance — schools payroll The Ministry of Education performs payroll processing and payments on behalf of school boards of trustees, through payroll service provider Education Payroll Limited.

The Ministry has commenced a review of the schools sector payroll to ensure compliance with the Holidays Act 2003. The initial phase of this review has identified areas of non-compliance. The Ministry has recognised an estimated provision based on the analysis of sample data, which may not be wholly representative of the total dataset for Teacher and Support Staff Entitlements. A more accurate estimate will be possible after further analysis of non-compliance has been completed, and this work is ongoing. Final calculations and potential impact on any specific individual will not be known until further detailed analysis has been completed

To the extent that any obligation cannot reasonably be quantified at 31 December 2019, a contingent liability for the school may exist.

Sherwood Primary School Consolidated Annual Report and Financial Statements BDO AUCKLAND Page 18

23. Commitments

(a) Capital Commitments

As at 31 December 2019 the Board has not entered into contract agreements for capital works. (Capital commitments at 31 December 2018:NIL)

(b) Operating Commitments School and GROUP

As at 31 December 2019 the Board has entered into the following contracts:

(a) operating lease of a EFTPOS Machine;

No later than One Year Later than One Year and No Later than Five Years

2019 2018 Actual Actual

$ 660 660

660 660

24. Managing Capital

The Groups capital is its equity and comprises capital contributions from the Ministry of Education for property, plant and equipment and accumulated surpluses and deficits. The Group does not actively manage capital but attempts to ensure that income exceeds spending in most years. Although deficits can arise as planned in particular years, they are offset by planned surpluses in previous years or ensuing years.

25. Financial Instruments

The carrying amount of financial assets and liabilities in each of the financial instrument categones are as follows:

Financial assets measured at amortised cost (2018: Loans and receivables)

2019

Actual 5

School 2019

Budget (Unaudited)

5

2018

Actual 5

2019

Actual 5

Group 2019

Budget (Unaudited)

5

2018

Actual 5

Cash and Cash Equivalents 29.004 28,605 352.221 38.976 49,305 433.748 Receivables 189.033 206,000 255,853 174,514 218,000 179,523 Investments - Term Deposits 1,261.023 1,002,000 702.644 1.761.023 1.462.000 1,163,702

Total Financial Assets Measured at Amortised Cost 1.479.060 1.236,605 1,310.718 1,974,513 1.729.305 1.776.973

Financial liabilities measured at amortised cost

Payables 262.016 213,100 218,049 302,121 324,137 256.230 Finance Leases 29,804 40,096 29,804 40.096

Total Financial Liabilities Measured at Amortised Cost 291,820 213.100 258,145 331.925 324.137 296,326

26. Consolidated Entity

The entity controlled by the school is the Sherwood Primary Before and After School Care ("BASC"). The BASC has a 31 December balance date, is controlled by the school, and is domiciled in New Zealand. The school controls the BASC for financial reporting purposes because in substence, the BASC operates under the management and oversight of the school, has common Board members, and operates (at least in part) for the benefit of the school.

28. Events After Balance Date

On March 11, 2020, the World Health Organisation declared the outbreak of COVID•19 (a novel Coronavirus) a pandemic. Two weeks later, on 26 March, New Zealand increased its' COVID-19 alert level to level 4 and a nationwide lockdown commenced. As part of this lockdown all schools were closed until 18 May 2020. At the date of issuing the financial statements, the school has been able to absorb the majority of the impact from the nationwide lockdown as it was decided to start the annual Easter School holidays early. In the periods the school was physically closed but open for tuition, the school switched to alternative methods of delivering the curriculum, so students can learn remotely. At this time the full financial impact of the COVID-19 pandemic is not able to be determined, but it is not expected to be significant to the school. The school will continue to receive funding from the Ministry of Education, even while closed.

29. Adoption of PBE IFRS 9 Financial Instruments

In accordance with the transitional provisions of PBE IFRS 9, the school has elected not to restate the information for previous years to comply with PBE IFRS 9. Adjustments arising from the adoption of PBE IFRS 9 are recognised in opening equity at 1 January 2019. Accounting policies have been updated to comply with PBE IFRS 9. The main updates are: • Note 10 Receivables: This policy has been updated to reflect that the impairment of short-term receivables is now determined by applying an expected credit loss model. • Note 12 Investments: Equity investments: This policy has been updated to remove references to impairment losses, as NZ !FRS 9 no longer requires identification of impairment for equity investments measured at fair value through other comprehensive revenue and expense. Also, on disposal, the accumulated gains/losses are no longer transferred to surplus/(deficit) but are transferred to accumulated surplus/(deficit).

Term deposits: This policy has been updated to explain that a loss allowance for expected credit losses is recognised only if the estimated loss allowance is not trivial.

Upon transition to PBE IFRS9 there were no material adjustments to these financial statements

Sherwood Primary School Consolidated Annual Report and Financial Statements 000 AUCKLAND Page 19

Sherwood Primary Mission Statement

To inspire, motivate and prepare our children for a lifetime of learning, achievement and creativity in a child-centred learning environment.

Vision Statement

Sherwood Primary welcomes all learners in our community. We are committed to their engagement in all school activities to achieve their full potential. We do this by providing quality learning experiences. The school recognises the value of (open and clear) communication in building

partnerships with home and the wider community.

The school provides a safe, supportive and caring environment to foster a sense of belonging, self-worth and respect for each other.

The school as (part of) a learning community develops learners who are:

• Inquirers • Knowledgeable • Communicators • Open-minded • Caring • Risk-takers • Well-rounded • Reflective • Principled • Resilient

Our Values

Sherwood Primary School and community aim to promote and encourage the following values: Appreciation, Enthusiasm, Cooperation, Creativity, Confidence, Commitment

Curiosity, Integrity, Empathy, Tolerance, Independence, Respect

New Zealand Curriculum: Principles

Sherwood Primary has a commitment to the Principles of the New Zealand Curriculum: High Expectations, Treaty of Waitangi, Cultural diversity, Inclusion, Learning To Learn,

Community Engagement, Coherence, future focus

New Zealand Curriculum: Key Competencies

Capabilities for lifelong learning. The New Zealand Curriculum identifies five key competencies: Thinking,

Using Symbols and texts Managing self

Relating to others Participating and contributing

Page 20

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MINISTRY OF EDUCATION TE TAHUHU 0 TE MATAURANGA

Analysis of Variance Writing 2019

School Name:

Sherwood Primary School School Number. 1481

Strategic Aim: Every child attending Sherwood Primary School will reach, or exceed the expected curriculum level (Writing). Where this is unlikely, due to some students having special learning need; our goal is for these students to make progress to reach the expected level.

Annual Aim: School targets identified and action plans implemented in areas of need, to increase levels for those students currently not achieving against the expected curriculum level.

Target: The target Year 3 students writing below will make more than one year progress and be at or above standard at the end of the year.

Baseline Data: Data gathered in December 2018 identified 19 students below the expected curriculum level for their year level in writing.

Other Below in last OTJ: 19 ( 4 boys, 5 girls)

Maori Below in last OTJ: 2 (girls)

ESOL below in last OTJ: 3 (boys)

Ministry of Education I Analysis of Variance Reporting NewZealandGovemment

Page 21

Strategies/ learning conditions that made a difference to student achievement:

• Focus on formative assessment. Teachers explicitly showing students how to improve their writing so they had clear learning pathways and to enable developing student agency.

• Students knowing how to improve their writing and being able to talk about their next steps in detail.

• Focus on expanding students' vocabulary and improving figurative language.

• Focus on students receiving quality feedback from peers, teacher and parents.

• Whanau partnership • Planning collaboratively for

deliberate acts of teacher to scaffold learning.

• ALL writing group focus on accelerating progress using the Ministry of Education Theory of Action.

Barriers to success • Students with additional learning

needs & limited English. • Maintaining a home school

partnership.

Based on the outcomes we will continue to embed formative assessment practices to develop student agency. Teachers inquiries will be linked to appraisal goals around formative assessment.

With further PLD funding will strengthen moderation processes across the school.

Through participation in ALL further extend and develop teacher capabilities in writing.

Actions What did we do?

Outcomes What happened?

Reasons for the variance Why did it happen?

Evaluation Where to next?

The group of target year 2 students were identified at the end of 2018, so year 3 teachers had a clear idea of who needed to make accelerated progress.

A school wide focused action plan for professional development in writing, was created.

Participated in the ALL programme with 8 students from the target group selected for targeted acceleration.

In class teacher aide support for ESOL target students was regularly timetabled.

Professional learning groups were established to focus on lifting levels of writing and to regularly moderate writing samples to track progress.

Total target group of 19 students.

8 students have made accelerated progress to reach standard.

9 students made steady progress and nearly reached the standard.

2 student s made no significant progress. Both students have learning assistants.

ALL group: 8 students

6 students made accelerated progress and reached the expected curriculum level for the end of Year 3.

2 students made accelerated progress and have not quite reached the expected level for the end of Year 3.

Ministry of Education I Analysis of Variance Reporting NewZealandGovernment

Page 22

Planning for next year

An annual target will be set in 2020 strategic plan regarding students who did not achieve at expected curriculum level.

• Writing data from the end of 2019 used to identify target students in writing for 2020. • Students identified across the school that are likely to need further support (either met expectations but need assistance to maintain

progress, and those who did not meet expectation and need to continue to make accelerated progress) • Teacher aide support timetabled to support areas of need. BoT to support with funding. • Allocate funding for ministry PLO. • Allocate funding from ALL programme. • Continue to build links across the Oneroa Kahui Ako.

Ministry of Education I Tataritanga raraunga Page 3

Page 23

Sherwood Primary School Analysis Of Variance Numeracy Targets 2019

Focus: Numeracy (Year 5 and 6)

Strategic aim: All students are able to access the New Zealand Curriculum as evidenced by achievement in relation to the expected curriculum levels for Maths.

Annual aim for 2019: To increase the number of students achieving at or above the expected curriculum level for their year level in Maths.

Baseline data 2018: Our baseline data (end of year Overall Teacher Judgements) identified some concerns in the 2019 Year 5 and Year 6 cohorts in Maths.

Year 5 Maths: 16 students below/well below the expected curriculum level for their year level in Maths.

Other 'Below' in last OTJ 11 (7 boys, 4 girls) Other 'Well below' in last OTJ 0

Maori "Below' in last OTJ 1 girl Maori 'Well below' in last OTJ 1 boy

ESOL "Below' in last OTJ 3 (2 boys, 1 girl) ESOL 'Well below' in last OTJ 0

Year 6 Maths: 10 students below/well below the expected curriculum level for their year level in Maths

Other 'Below' in last OTJ 8 (6 girls, 2 boys) Other 'Well below' in last OTJ 1 girl

Maori "Below' in last OTJ 0 Maori 'Well below' in last OTJ 1 boy

ESOL "Below' in last OTJ 0 ESOL 'Well below' in last OTJ 0

Targets 2019: Target Year 5: • The group of 15 Year 5 students with a maths OTJ of 'below' will make more than one year's progress this year and be working at

or above the curriculum level expectation for Year 5 at the end of the year. • The student with a maths OTJ of 'well below' will make accelerated progress this year.

Target Year 6: • The group of 8 Year 6 students with a maths OTJ `below' will make more than one year's progress this year and be working at or

above the curriculum level expectation for Year 6 at the end of the year. • The 2 students with a maths OTJ of 'well below' will make accelerated progress this year.

Page 24


Actions (what did we do?)

OutCdrife-S--- (what happened?)

Reasons"for Itie ialiee— -- (why did it happen?)

Eiiitilatiori (where to next?)

Groups of target students identified at end Year 5 Year 5 Year 5 (Year 6 2020) of 2018, so teachers started the year with By end 2019: Success Factors clear idea of who needed to make The student Well Below Experienced teacher aides with Further maths professional development for teacher accelerated progress. remained Well Below good knowledge of strategies to

support students in maths aides. Make use of teacher aides who have been upskilled in Numicon and further upskill others

Resources: Of the 15 students Below Teacher aide support for maths target 5 moved to At ALiM programme in Term 2 of the Teacher professional development on dyslexia and students. 9 remained Below year included 6 of the Below dyscalculia and the links between. Use of Numicon equipment as an alternative resource for use within intervention programmes for target

1 moved to Well Below students RTLB support

S tudents. Barriers to Success ORRS application for one student

Professional Development Five students with significant Attendance for four teachers at Primary learning challenges - Ongoing Learning Support involvement for three Maths Association seminar day. Attendance for maths leader at Maths

developmental delay, dyslexia, suspected dyscalculia, executive

students

Leadership Community workshop days, one each term. learning in maths. Two teacher aides attended Numicon training in November

functioning difficulties.

Three of the students have severe behavioural challenges and are supported by MOE

SENO° and Principal continue to work with familes to lift attendance

Roll out new ALiM plan across all levels from Year 4 to 6 - using greater numbers of teachers to do short

Learning Support staff. 10 week intervention, reaching more students, ensure suitable students (just Below) are included.

One student has inconsistent attendance. Alternative programme of support for students where

ALiM is not appropriate. Due to staffing changes we were unable to continue an ALiM programme for Year 5 students and so some gains not maintained,

Whole school teacher PLD in maths content knowledge in number domains Targeted PLD for Year 5&6 teachers to develop greater content knowledge around strands.

Page 25


Year 6 Success Factors By end 2019: Experienced teacher aides with The student Well Below good knowledge of strategies to remained Well Below support students in maths (other Well Below student left)

ALiM programme in latter part of Of the 8 students Below the year included 4 of the Below 3 moved to At students 5 remained Below

Barriers To Success One student with high social-emotional needs

Due to staffing changes we were unable to implement ALiM programme in Year 6 until Term 3

Planning for next year:

December 2018:

• identify target maths groups for 2018

Page 26


identify students from 2018 target group who are likely to need further support (either met target but need assistance to maintain progress, and those who did not meet target and need to continue to make accelerated progress) class placements made, 2019 target students and 2018 target sudents identified on class lists draft 2018 Maths Intervention Plan developed

January 2019:

• previous teachers meet with new teachers to assist with decisions made about appropriate Term 1 supports

February 2019:

• 2018 Maths Intervention Plan finalised and implemented

Throughout year

• Allocate teacher aides to support of ALiM programmes. • Individual PLD for ALiM teachers • Whole school PLD on principles of acceleration - 'learning in the fast lane" • Team monitoring of target students • Teacher aide PLD in maths - workshops, PLD 360 e-ako

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Focus: Numeracy (Year 5 and 6)

Strategic aim: All students are able to access the New Zealand Curriculum as evidenced by achievement in relation to the expected curriculum levels for Maths.

Annual aim for 2019: To increase the number of students achieving at or above the expected curriculum level for their year level in Maths.

Baseline data 2018: Our baseline data (end of year Overall Teacher Judgements) identified some concerns in the 2019 Year 5 and Year 6 cohorts in Maths.

Year 5 Maths: 16 students below/well below the expected curriculum level for their year level in Maths.

Other 'Below' in last OTJ 11 (7 boys, 4 girls) Other 'Well below' in last OTJ 0

Maori "Below' in last OTJ 1 girl Maori 'Well below' in last OTJ 1 boy

ESOL "Below' in last OTJ 3 (2 boys, 1 girl) ESOL 'Well below' in last OTJ 0

Year 6 Maths: 10 students below/well below the expected curriculum level for their year level in Maths

Other 'Below' in last OTJ 8 (6 girls, 2 boys) Other 'Well below' in last OTJ 1 girl

Maori "Below' in last OTJ 0 Maori 'Well below' in last OTJ 1 boy

ESOL "Below' in last OTJ 0 ESOL 'Well below' in last OTJ 0

Targets 2019: i Target Year 5: • The group of 15 Year 5 students with a maths OTJ of 'below' will make more than one year's progress this year and be working at

or above the curriculum level expectation for Year 5 at the end of the year. • The student with a maths OTJ of 'well below' will make accelerated progress this year.

Target Year 6: • The group of 8 Year 6 students with a maths OTJ 'below' will make more than one year's progress this year and be working at or

above the curriculum level expectation for Year 6 at the end of the year. • The 2 students with a maths OTJ of 'well below' will make accelerated progress this year.

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Actions (what did we do?)

Outcomes (what happened?)

Reasons for the variance (why did it happen?)

Evaluation (where to next?)

Groups of target students identified at end Year 5 Year 5 Year 5 (Year 6 2020) of 2018, so teachers started the year with By end 2019: Success Factors clear idea of who needed to make The student Well Below Experienced teacher aides with Further maths professional development for teacher accelerated progress. remained Well Below good knowledge of strategies to

support students in maths aides. Make use of teacher aides who have been upskilled in Numicon and further upskill others

Resources: Of the 15 students Below Teacher aide support for maths target 5 moved to At ALiM programme in Term 2 of the Teacher professional development on dyslexia and students. 9 remained Below year included 6 of the Below dyscalculia and the links between. Use of Numicon equipment as an alternative resource for use within intervention programmes for target students.

1 moved to Well Below students

Barriers to Success

RTLB support

ORRS application for one student

Professional Development Five students with significant Attendance for four teachers at Primary learning challenges - Ongoing Learning Support involvement for three Maths Association seminar day. Attendance for maths leader at Maths

developmental delay, dyslexia, suspected dyscalculia, executive

students

Leadership Community workshop days, one each term. learning in maths.

functioning difficulties.

Three of the students have

SENCo and Principal continue to work with familes to lift attendance

Two teacher aides attended Numicon training in November severe behavioural challenges

and are supported by MOE Roll out new ALiM plan across all levels from Year 4 to 6 - using greater numbers of teachers to do short

Learning Support staff. 10 week intervention, reaching more students, ensure suitable students (just Below) are included.

One student has inconsistent attendance. Alternative programme of support for students where

ALiM is not appropriate. Due to staffing changes we were unable to continue an ALiM programme for Year 5 students and so some gains not maintained,

Whole school teacher PLD in maths content knowledge in number domains Targeted PLD for Year 5&6 teachers to develop greater content knowledge around strands.

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Year 6 Success Factors By end 2019: Experienced teacher aides with The student Well Below good knowledge of strategies to remained Well Below support students in maths (other Well Below student left)

ALiM programme in latter part of Of the 8 students Below the year included 4 of the Below 3 moved to At students 5 remained Below

Barriers To Success One student with high social-emotional needs

Due to staffing changes we were unable to implement ALiM programme in Year 6 until Term 3

Planning for next year:

December 2018:

• identify target maths groups for 2018

Page 30


• identify students from 2018 target group who are likely to need further support (either met target but need assistance to maintain progress, and those who did not meet target and need to continue to make accelerated progress)

• class placements made, 2019 target students and 2018 target sudents identified on class lists • draft 2018 Maths Intervention Plan developed

January 2019:

• previous teachers meet with new teachers to assist with decisions made about appropriate Term 1 supports

February 2019:

• 2018 Maths Intervention Plan finalised and implemented

Throughout year:

• Allocate teacher aides to support of ALiM programmes. • Individual PLD for ALiM teachers • Whole school PLD on principles of acceleration - "learning in the fast lane" • Team monitoring of target students • Teacher aide PLD in maths - workshops, PLD 360 e-ako

Page 31

Kiwi Sport Report for Sherwood Primary 2019

Our aim for 2019 was:

To continue and enhance school based programmes, to encourage Sherwood students to have "A Go" and so increase their involvement in Sport. We aim to increase and support EOTC programmes throughout our school environment.

Sherwood Primary provides a PE Specialist — who devised age related programmes across the school to aid the development of children's hand eye co-ordination, fitness and well being.

Sherwood Primary has provided after school coaching in a variety of key sports to encourage our students to participate. As a result we have continued our commitment to Miniball, Basketball, Netball, Hockey, Flippa Ball and Rugby Touch teams as the roll on effect takes hold.

At BASC we have expertise amongst the staff who lead specific sports and coaching clinics— Sports that have been included are Hockey, Soccer, Miniball, Basketball, Netball and Fun Ferns.

We have wherever possible offered participation in Sports in the term prior to the start of the season, encouraging students to participate in a sports team for a given season.

,(2, Lunchtime activities were held through the year to encourage physical activity. These included Basketball and Rippa Rugby. Equipment was also made available at break times for students to use.

Extra training was given to students leading up to Zone Day tournaments such as Athletics, Rugby and Soccer. Our new gymnasium/ball has helped programmes to continue to run despite weather. This includes outside agencies coming in to run sporting pragrammes such as FFC Academy and GamePlan Tennis.

In 2019 School wide events included a X Country event (Y 1-3 Fun Run, Y 4-6 X Country), Athletics Days for senior and juniors. Participation levels in the school sports we have introduced and promoted to the students through specialist P.E. lessons have increased. Sports on offer currently include Netball, Miniball, Basketball, Soccer, Tackle Rugby, Rippa Rugby, Touch and Flippa Ball.

2020 Aims:-

To continue to provide a PE Specialist — who will devise individual age related programmes that will continue to aid the development of children's hand eye co-ordination, fitness and well being.

• To continue out of school coaching opportunities of the highest standard in a number of key areas.

Si, To maintain lunchtime physical activity opportunities through 'have a go sessions' and organized sports games.

• To continue offering lunchtime coaching sessions for various sports.

(1 To continue our growth in extracurricular sports through encouragement and communication with the school community.


Sherwood Primary School Statement of Resources for the

YEAR ENDED 31 DECEMBER 2019

Physical Resources

The school occupies: 3.32 ha

The school comprises: New Administration Block joined to New Hall. New Classroom Block (2 Storey) comprising of 6 MLE Classrooms on the top floor and 5 MLE Classrooms on the bottom floor. Library (was used as Administration offices) one x 4 teaching space (3 Classrooms): one x 5 teaching spaces plus resource room: and two relocatable classrooms (ESOL/New Entry). There is also a caretaker's office/storage building.

On site an After School Building, Music Room and Tiger Turf Sports Facility.

The ownership of land and building (accept the After School Building, Music Room and Tiger Turf Sports facility which is owned by the Board of Trustees) is vested in the Ministry of Education. The Board of Trustees is responsible for the property maintenance.

The Board of Trustees has a library with 8866 volumes.

Other Assets and Resources

2018 2019

Human Resources

2017 The staffing entitlement for:

Principal 1 1 a. Full time teachers 23 23 24 Part time teachers 2.85 2.2 3.8 Board of Trustees also employs: Office/Administration Personnel 4 4 4 Teacher aides 5 6 8 Property Manager 1 1 1

The School roll at July 1: 439 468 472 388 390 390

Open for half days


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BDO Auckland

INDEPENDENT AUDITOR'S REPORT TO THE READERS OF SHERWOOD PRIMARY SCHOOL'S FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

The Auditor-General is the auditor of Sherwood Primary School (the School) and its controlled entities (collectively referred to as "the Group"). The Auditor-General has appointed me, Wayne Monteith, using the staff and resources of BDO Auckland, to carry out the audit of the separate and consolidated financial statements of the School and the Group on his behalf.

Opinion

We have audited the separate and consolidated financial statements of the School and the Group on pages 2 to 19, that comprise the separate and consolidated statement of financial position as at 31 December 2019, the separate and consolidated statements of comprehensive revenue and expense, statement of changes in net assets/equity and statement of cash flows for the year ended on that date, and the notes to the separate and consolidated financial statements that include accounting policies and other explanatory information.

In our opinion the separate and consolidated financial statements of the School and Group:

• present fairly, in all material respects:

o its financial position of the School and Group as at 31 December 2019; and

o its School's and Group's financial performance and cash flows for the year then ended; and

• comply with generally accepted accounting practice in New Zealand in accordance with Public Sector Public Benefit Entity Standards Reduced Disclosure Regime as applicable to entities that qualify as tier 2.

Our audit was completed on 28 May 2020. This is the date at which our opinion is expressed.

The basis for our opinion is explained below. In addition, we outline the responsibilities of the Board of Trustees and our responsibilities relating to the financial statements, we comment on other information, and we explain our independence.

Emphasis of Matter - COVID-19

Without modifying our opinion, we draw attention to the disclosures in note 28 on page 19 which outline the possible effects of the Alert Level 4 lockdown as a result of the COVID-19 pandemic.

Basis for our opinion

We carried out our audit in accordance with the Auditor-General's Auditing Standards, which incorporate the Professional and Ethical Standards and the International Standards on Auditing (New Zealand) issued by the New Zealand Auditing and Assurance Standards Board. Our responsibilities under those standards are further described in the Responsibilities of the auditor section of our report.

We have fulfilled our responsibilities in accordance with the Auditor-General's Auditing Standards.

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

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BOO Auckland

Responsibilities of the Board of Trustees for the financial statements

The Board of Trustees is responsible on behalf of the School and Group for preparing separate and consolidated financial statements that are fairly presented and that comply with generally accepted accounting practice in New Zealand. The Board of Trustees is responsible for such internal control as it determines is necessary to enable it to prepare financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the separate and consolidated financial statements, the Board of Trustees is responsible on behalf of the School and Group for assessing the School and Group's ability to continue as a going concern. The Board of Trustees is also responsible for disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless there is an intention to close or merge the School or Group, or there is no realistic alternative but to do so.

The Board of Trustees' responsibilities arise from the Education Act 1989.

Responsibilities of the auditor for the audit of the separate and consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the separate and consolidated financial statements, as a whole, are 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 carried out in accordance with the Auditor-General's Auditing Standards will always detect a material misstatement when it exists. Misstatements are differences or omissions of amounts or disclosures, and can arise from fraud or error. Misstatements are considered material if, individually or in the aggregate, they could reasonably be expected to influence the decisions of readers taken on the basis of these separate and consolidated financial statements.

For the budget information reported in the separate and consolidated financial statements, our procedures were limited to checking that the information agreed to the School and Group's approved budget.

We did not evaluate the security and controls over the electronic publication of the separate and consolidated financial statements.

As part of an audit in accordance with the Auditor-General's Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. Also:

• We identify and assess the risks of material misstatement of the separate and consolidated financial statements, 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.

• We 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 School and Group's internal control.

• We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Trustees.

We conclude on the appropriateness of the use of the going concern basis of accounting by the Board of Trustees and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the

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BDO Auckland

School and Group'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 statements 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 School and Group to cease to continue as a going concern.

• We evaluate the overall presentation, structure and content of the separate and consolidated financial statements, including the disclosures, and whether the separate and consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We assess the risk of material misstatement arising from the Novopay payroll system, which may still contain errors. As a result, we carried out procedures to minimise the risk of material errors arising from the system that, in our judgement, would likely influence readers' overall understanding of the financial statements.

We communicate with the Board of Trustees 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.

Our responsibilities arises from the Public Audit Act 2001.

Other information

The Board of Trustees is responsible for the other information. The other information comprises the Analysis of Variance, Board of Trustees Listing and Kiwisport Report, but does not include the separate and consolidated financial statements, and our auditor's report thereon.

Our opinion on the separate and consolidated financial statements does not cover the other information and we do not express any form of audit opinion or assurance conclusion thereon.

In connection with our audit of the separate and consolidated financial statements, our responsibility is to read the other information. In doing so, we consider whether the other information is materially inconsistent with the separate and consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on our work, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Independence

We are independent of the School and Group in accordance with the independence requirements of the Auditor-General's Auditing Standards, which incorporate the independence requirements of Professional and Ethical Standard 1 (Revised): Code of Ethics for Assurance Practitioners issued by the New Zealand Auditing and Assurance Standards Board.

Other than the audit, we have no relationship with or interests in the School or Group.

Wayne Monteith Monteith Partner BDO Auckland On behalf of the Auditor-General Auckland, New Zealand

Documents

SHERWOOD PRIMARY SCHOOL · Sherwood Primary School Statement of Comprehensive Revenue and Expense For the year ended 31 December 2019 Notes 2019 Actual $ School 2019 Budget