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Parliamentary Questions

Question Without Notice No. 1037 asked in the Legislative Council on 19 September 2019 by Hon Donna Faragher

Minister responding: Hon S.M. Ellery
Parliament: 40 Session: 1

Answered on

AGRICULTURAL EDUCATION FARMS PROVISION TRUST

1037. Hon DONNA FARAGHER to the Minister for Education and Training:

I refer to the minister's question without notice 993 asked on 17 September 2019 regarding the 20 per cent dividend applied to the agricultural education farms provision trust fund.

(1) What was the balance of the trust as at 30 June 2018?

(2) What was the balance of the trust as at 30 June 2019?

(3) What is the estimated balance of the trust as at 30 June 2020, 30 June 2021 and 30 June 2022?

(4) What is the estimated actual final dividend for 2018–19?

(5) What are the forecasted dividends for 2019–20 to 2022–23 based on estimates prepared by the Department of Education?

Hon STEPHEN DAWSON replied:

I thank the honourable member for some notice of the question. The following answer is provided on behalf of the Minister for Education and Training, who is away from Parliament on urgent parliamentary business.

(1) The balance of the trust was $984 059.

(2) The balance of the trust was $900 279.

(3) The estimated balance of the trust for the forward estimates cannot be determined at this stage as the expenditure from the trust is still to be determined for those years.

(4) The dividend is applied on a calendar year basis. An interim dividend of $110 000 has been applied in the 2018–19 financial year for the period January to June 2019. The final dividend for 2019 has not been finalised.

(5) The value of the 20 per cent dividend will vary each year depending on the income generated by the farm operations across the five Western Australian colleges of agriculture and the Esperance Senior High School farm training centre.