Each PMSA school operates independently and is responsible for the school’s financial budget and performance. Each school has independent income, expenditure, budgets and targets. The income that each school receives from tuition fees, donations and government grants is used entirely to operate and develop that school. The School Council, Principal and Business Manager manage the financial accounts at each school which are audited by KPMG in accordance with the Australian Accounting Standards.
As a part of each school’s budget, each school contributes to cover the cost of shared services that are arranged by the PMSA corporate office including cost-effective, collective purchase arrangements such as insurance and auditing, and other services such as policies and guidelines and professional development for our schools’ staff. The PMSA is able to leverage the consolidated schools’ size and strength to maximise the benefit for each school.
Like other schools that are a part of a larger group of schools, the PMSA reports and operates as a consolidated not-for-profit organisation and provides only the consolidated annual report. The following are the audited Consolidated Annual Reports for the PMSA.