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Statement of Comprehensive IncomeFor the year ended 31 December 2012GROUPPARENTNote2012 Actual$0002012 Budget$0002011 Actual$0002012 Actual$0002012 Budget$0002011 Actual$000Operating IncomeGovernment Funding 2 30,229 30,698 28,988 29,980 30,449 28,642Tuition Funding 3 17,739 18,540 16,392 17,739 18,540 16,392Other Teaching 4 3,133 2,863 4,126 3,133 2,863 3,744Other Income 5 3,847 3,140 3,080 3,312 2,189 2,935Total Operating Income 54,948 55,241 52,586 54,164 54,041 51,713Cost of ServicesPersonnel 6 31,120 30,917 29,882 30,555 30,447 29,441Teaching Delivery 4,925 4,884 3,477 4,803 4,788 3,399Administration 7 6,850 6,519 7,040 6,380 6,059 6,617Infrastructure 8 5,804 5,803 5,109 5,776 5,779 5,063Interest, Depreciation & Amortisation 9 5,065 5,485 5,248 5,063 5,485 5,248Total Cost of Services 53,764 53,608 50,756 52,577 52,558 49,768Operating Profit 1,184 1,633 1,830 1,587 1,483 1,945Non Operating Items income/(expense) 10 (807) (557) 1,247 (807) (557) 1,247Share of associates profit/(loss) 14 (692) (777) (312) - - -Profit (315) 299 2,765 780 926 3,192Other Comprehensive Income(Loss)/gain on property revaluation 24 (139) - 1,417 (139) - 1,417Total comprehensive income (454) 299 4,182 641 926 4,609The accompanying notes form part of these financial statements58 | WELLINGTON INSTITUTE OF TECHNOLOGY
Statement of Changes in EquityFor the year ended 31 December 2012GROUPPARENTNote2012 Actual$0002012 Budget$0002011Actual$0002012 Actual$0002012 Budget$0002011 Actual$000Balance at 1 January 73,224 71,648 68,642 73,789 72,226 68,780Comprehensive income(Loss)/profit for the year (315) 299 2,765 780 926 3,192Other comprehensive income (139) - 1,417 (139) - 1,417Total comprehensive income (454) 299 4,182 641 926 4,609Equity transactionsCrown equity injection 22 - - 400 - - 400Total non-comprehensive income items - - 400 - - 400Balance at 31 December 72,770 71,947 73,224 74,430 73,152 73,789The accompanying notes form part of these financial statements2012 ANNUAL REPORT | 59
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2012ANNUAL REPORTLACHLAN CLELLAND -
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Mission/KaupapaWellington Institute
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2012 SummaryADDING VALUE9489 STUDEN
Page 7 and 8: 2012 SummaryFUNDINGEFTS BY SOURCEFU
Page 9 and 10: Aka ArthurAka Arthur, of Ngati Toa,
Page 11 and 12: James SmithCHIEF FINANCIALOFFICERPe
Page 13: Industry Advisory CommitteesAlcohol
Page 16 and 17: Whakarongo ake auKi te tangi a te m
Page 18 and 19: Minister for Tertiary Education, Sk
Page 20 and 21: 20 | WELLINGTON INSTITUTE OF TECHNO
Page 22 and 23: Ma wai raa, e tau rimaTe Whare Wana
Page 24 and 25: Scott Bregmen, teaching rhythm and
Page 28 and 29: Pasifika TradesPasifika students ga
Page 32 and 33: Qualification completion2010Actual2
Page 44 and 45: Staff attend WelTec Day in the Stud
Page 46 and 47: Our EnvironmentWe are proud to have
Page 48 and 49: National winnerHairdressing student
Page 50 and 51: Educational PerformanceActual 2011
Page 52 and 53: Business Plan PerformanceOur Busine
Page 54 and 55: Business Plan PerformanceCHALLENGE
Page 60 and 61: Balance SheetAs at 31 December 2012
Page 62 and 63: Notes to the Financial Statements1
Page 64 and 65: Notes to the Financial Statementsof
Page 66 and 67: Notes to the Financial StatementsRe
Page 68 and 69: Notes to the Financial StatementsGR
Page 80 and 81: Notes to the Financial StatementsCa
Page 82 and 83: ResponsibilitiesIn the financial ye
Page 84 and 85: circumstances but not for the purpo
Page 88: Private Bag 39803Wellington Mail Ce
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