The Lauriston Foundation Inc. Annual Report 2019 › images › community › LAU104_Founda… · Secretary since 2005 Ex officio, member of School Executive Trustee Lauriston Foundation

The Lauriston Foundation Inc.Annual Report 2019

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Lauriston Foundation

Chair’s report Director of Advancement’s report

Scholarship overview

Building the future

Gifts that deliver impact for generations

2019 Donors

20 26 28Lauriston Foundation members

Corporate Governance Statement

Financial report

The LaurisTon FoundaTion inC – annuaL reporT 2019 1

John Morrison Appointed March 2010

Chair since February 2014

Founder Elizabeth Kirkhope Circle

Angus Graham OAMAppointed August 2017

Treasurer since 2019Trustee

Elizabeth Kirkhope Circle

Rick BallAppointed August 2015

Ex officio, Chair of School Council

Patron Elizabeth Kirkhope Circle

Georgie Bruce Appointed February 2018

Governor

Jane Freemantle OAM (Mason, 1966)

Appointed December 2018 Trustee

Elizabeth Kirkhope Circle

Elise Gillespie (1999)Appointed August 2018

Huntingtower Circle

Charissa HoAppointed October 2015

Founder(Retired May 2019)

Sam HuntAppointed June 2019

Trustee

Vicki Redwood (Canning, 1971)

Appointed August 2003Nominee of Old Lauristonians’

Association (OLA)Governor

Mark RobertsAppointed October 2019

Governor

Peter ScottAppointed June 2010

Treasurer from February 2014 to May 2019

Founder(Retired May 2019)

Marina JohnsonAppointed January 2019

Ex officio, Director of Advancement

Susan Just Appointed August 2015

Ex officio, School PrincipalElizabeth Kirkhope Circle

Cathy TanAppointed February 2013

Secretary since 2005Ex officio, member of School

ExecutiveTrustee

Lauriston Foundation2019 BoARd memBeRs

The LaurisTon FoundaTion inC – annuaL reporT 20192

In 2019 Lauriston Foundation marked its 35th anniversary. Each and every Foundation member has played a part in its journey, whether through a financial contribution or through involvement in an advisory role as an officeholder of the Foundation. We have reached a milestone, and it is an opportunity to pause and reflect back on the events that led to the creation of the Foundation, as well as the impact it has delivered over the years.

Lauriston was the first girls’ school in Melbourne to establish a ‘Foundation’, a separate legal entity that would raise funds for specific projects and also safeguard the long-term security of the School. The Foundation was established in 1984, a year after Principal Ruth Tideman AM started her role. She took on the role at a time when the country was still recovering from Ash Wednesday bushfires and the new Hawke government had begun to cut funding to ‘wealthy private schools’. The School felt it needed to reduce the dependency on government subsidies and hence the Lauriston Foundation was created. The inaugural Board comprised Grahme Dixon (Chair), Ruth Tideman AM, John Calvert-Jones AM, Claude Ullin AM, Evelyn Danos and Ian Goodwin.

Throughout its rich history, the Foundation and its members have successfully raised funds for many key projects within the School. Some of its major accomplishments were the 1991 purchase of the Howqua site, the subsequent development of student and staff housing, and the Howqua Resource Centre – essential infrastructure for the delivery of the Howqua program. At the Armadale campus, the Foundation helped build the swimming pool, the Art and Visual Communication Centre, the Dance and Movement Studio, the Science and Resource Centre and the FabLearn Lab. This ‘bricks and mortar’ support went hand in hand with raising funds for needs-based scholarship programs at the School, and Gift in Wills programs to secure funds for reinvestment and revenue generation.

The Foundation was born out of a need, but has and continues to adhere to the spirit that embodies Lauriston – to be a School for Life. During a major fundraising campaign, former Principal Ruth Tideman AM, in a report to parents, had defended the School’s ‘expensive’ building refurbishments by saying:

‘It is not the School losing the race that I worry about. What it means is that your daughter and your granddaughter may be losing the race of their lives.’

Today, the Foundation is responsible for overseeing the funds contributed by donors and members, ensuring these are managed and distributed in accordance with the various deeds of trust and donors’ wishes. A key part of its role is also inspiring people to give back by recognising and acknowledging philanthropy at Lauriston.

We offer sincere thanks to all our Foundation members for their support and guidance over the past 35 years. A full list of all Foundation members is available on page 21.

Above: Inaugural Chair, Grahme Dixon discussing building plans with former Principal Ruth Tideman AM

Past Presidents/Chairs of the Lauriston FoundationMr Grahme Dixon† (1985–86) Mr Claude Ullin AM† (1987–88) Mr John O’Brien (1989–90) Mr John McInnes (1991–93) Mrs Caroline Johnston OAM (1994–95) Mr Roger Gillespie OAM (1996–97) Mrs Pamela Fitz-Gibbon (1998–99) Mr Colin Squires (2000–02) Mr Andrew Scott (2003–07) Dr Linden Smibert (2008–11) Mr Michael Rowland (2011–13)

Supporting girls’ education for 35 years


Chair’s ReportJohn moRRison

I want to start by thanking all our donors and members. Your continued support helps to make a real difference to the School.

Financial resultsIn 2019, the Foundation reported a combined surplus before distributions of $1,216,387 (cf $632,163 in 2018). From this surplus, the Foundation distributed $33,200 to the School and retained $1,183,187 for investment and future use. The Foundation’s funds increased from $4.5 million to $5.7 million over the calendar year.

The Annual Appeal raised a total of $107,605 which was a pleasing result. The main contributions were directed towards the Scholarship Fund (46%), the Library Fund (10%) and the Building Fund (40%). We are very grateful for the support received from the Lauriston community, particularly from those that gave for the first time. These gifts will be used in support of specific initiatives undertaken by the School, as promised.

Other pledges and donations raised a total of $603,391 with the main contributions being directed towards the Building Fund (79%) and the Scholarship Fund (18%). The It’s Her Turn campaign has been successful in attracting early support for the School’s exciting redevelopment plan, incorporating a new Sports, Health and Wellbeing Precinct, repurposing the existing gymnasium as a 5/6 Centre and creating an Early Learning Centre at Blairholme. Please contact Marina Johnson, Director of Advancement, if you would like to become a ‘Champion of Change’ and support this transformational project.

Net investment income totalled $540,775 for the year (cf $59,568 in 2018). This result was influenced by a

positive movement in the fair value of investments held at year end.

Elizabeth Kirkhope CircleOur Honorary Chair of the Elizabeth Kirkhope Circle (EKC), Alix Bradfield, and the School’s Executive team continue to do a great job in welcoming new members to our bequest program. In August, a morning tea with the School Principal and special presentation on the School’s Archives was held for our EKC members and was of great interest to those that attended. Please contact Marina or Bo Rutecki if you would like to support the School and join as an EKC member.

The fundsIn 2019, the Education Fund distributed $3,200 to the School and retained $339,768 for further investment and future income generation. The distributions were directed towards the Diana Robertson Scholarship. The corpus totalled $2.6 million at year end.

The Scholarship Fund generated and retained $320,533 for further investment and future income generation across its four scholarships and bursaries. The Scholarship Fund corpus totalled $2.0 million at year end.

In 2019, the Foundation was pleased to offer a Foundation Scholarship to an outstanding recipient who will commence her Year 11 studies at Lauriston in 2020.

The Building Fund accumulated $523,055 (net) over the year as part of the It’s Her Turn campaign, all of which was retained for future distribution. The amount will primarily be directed to support the delivery of a major new sport centre and related facilities on the Armadale campus. Funds held totalled $1.1 million at year end.

The Library Fund distributed $30,000 to the School. The distribution was directed to the acquisition of additional library resources, databases, e-books and digital facilities as proposed by our Head Librarian. Funds held totalled $482 at year end.

Other mattersThe Foundation is aiming to establish a new Museum Fund, which has the objective of establishing, developing and maintaining the School’s Archives and helping to preserve important memorabilia and other items of historical significance for the benefit of the School and its alumnae. This is an important initiative and one that we hope will come to fruition in 2020.

An updated list of members is included in this Annual Report and has been posted on the website and on our electronic Honour Board located at the School’s reception.

I would like to thank all Board members for their valued contribution during the year and, on their behalf, all staff involved with the School’s Advancement office for their hard work, dedication and valuable contribution.

At the time of writing, the Coronavirus pandemic is having a significant global impact. In order to meet students’ education needs and provide a safe environment the School has moved to online learning. Both students and teaching staff have adapted to the immediate challenges and changed environment very well in the circumstances. It is a credit to the teachers, staff and leadership of the School.


Principal’s ReportsUsAn JUsT

Our Foundation is investing in our current students and also the next generation of Lauriston girls. We believe in the value of an education, and the resolve that our young women have, to make meaningful contributions to their worlds.

Our priority for 2019 has been the commencement of our 10-year Masterplan, which will consolidate various parts of the School, and create specific precincts keeping in mind the workflow needs of students, teachers, parents and staff and contemporary research on learning spaces. With the completion of the first phase of our building project, we have achieved our first milestone.

When I speak with our staff and students about our current building project there is a sense of excitement and anticipation. For our girls, there are positive feelings about having grass on which to run and play again, and space within which to spread out and enjoy recess and lunch. Our Kindergarten and Early Learning Centre staff are looking forward to the Early Learning Village and its new rooms and play spaces. For our staff there is anticipation of being able to park securely in the underground carpark.

We are grateful to those members of our School community who have made a donation to the It’s Her Turn campaign, which is helping fund the building project. The new facilities that will be built will deliver long-term benefits for hundreds of girls who will attend our school. This goes back to what education is all about. The education our young women receive today will enable each and every one

of them to continue to learn and have a positive impact on their community for many years to come.

Throughout 2019 our capital campaign committee and members of Lauriston Foundation held a number of events and activities, all of which showcased the proposed new facilities and spoke to members of our School community about why giving to this program is so important. In addition to information sessions, these events are helping to raise $5 million needed to ensure we are able to complete the facilities to a high standard, and without entering into debt. We are confident that our School community understands the need for these vital facilities and will show their support.

The Lauriston Foundation continues to support and further develop a needs-based scholarship program which allows deserving young women to receive an education at Lauriston. Past scholarship recipients have not only been fully engaged in their studies, but have participated in our co-curricular program and benefited from the support offered to them by teachers and peers.

These young women are Lauriston girls. A Lauriston girl stands out because she is smart, feisty and grounded. She has a sense of hope about the future and is confident that she will navigate through the challenges that life will bring. Today, these traits are more important than ever.

Below: Artist’s impression of the new Early Learning Village


Director of Advancement’s Report mARinA Johnson

Looking back on 2019 there is much to celebrate. The Lauriston community has been generous in their support of the Foundation’s various fundraising initiatives and I would like to personally thank each and every one of you for your support. Regardless of whether your gift was small or large, when combined these gifts have delivered positive and identifiable impact for our girls.

Right: Exploring Lauriston’s history

Providing life-changing opportunitiesMore than 25% of current families supported the Foundation’s Scholarship program through the Voluntary Levy, contributing $96,400 to help fund needs-based scholarships. We currently offer one scholarship (Lauriston Foundation Scholarship) and are building the funds needed to offer a second scholarship (Lauriston Foundation Creative and Performing Arts Scholarship). It is wonderful to have our community recognise the importance of these scholarships and the impact of receiving a scholarship on a young woman’s life.

Thanks to your support, we were able to offer a Lauriston Foundation Scholarship to a delightful young woman who commenced in Year 11 at the beginning of the 2020 school year.

Helping fund new learning and sporting facilitiesThe Lauriston community had been extremely generous in their support of the It’s Her Turn campaign, which is helping fund vital new facilities for our girls. Thank you to the 111 donors who have made gifts or pledges of support totalling $2,066,041 as at 31 December. These gifts will help fund the development of a new Sports, Health and Wellbeing Precinct, unify the Junior School on the Huntingtower Road campus, and create an Early Learning Centre at Blairholme; facilities which will benefit both today’s girls and future generations. Read the It’s Her Turn update on page 14 to learn more.


Acknowledging our Foundation members Lauriston Foundation welcomed 25 new members in 2019, and five members changed membership levels. All Foundation members are acknowledged on the digital Honour Boards located in the main reception area. These boards are updated regularly, not only adding new members but also recognising significant awards.

Three Foundation members were acknowledged in the 2020 Australia Day Honours list: Dr John Collins AM, Associate Professor Jane Freemantle OAM (Mason, 1966), and Caroline Johnston OAM. John was made a Member of the Order of Australia for his contributions to medicine, particularly to breast cancer research; Jane received a Medal of the Order of Australia for service to medical research, particularly to population health; while Caroline received a Medal of the Order of Australia for her service to the community. On behalf of Lauriston Foundation, I would like to congratulate John, Jane and Caroline.

Showcasing the importance of legacyThe Elizabeth Kirkhope Circle annual morning tea featured a presentation by School Archivist Lisl Bladin, who showcased a number of items from the Archives. These items are an important legacy left by previous generations. During her welcome Alix Bradfield, Honorary Chair of the Elizabeth Kirkhope Circle, thanked members who have indicated that their legacy to Lauriston will be a gift in their Wills. Alix also highlighted the impact a gift to education – particularly girls’ education – will have for future generations.

Staying connected with our communityIn June, Foundation members were invited to attend ‘Designing the Future’, a panel discussion featuring architect Richard Stafford, landscape architect Joshua Chia, researcher Dr Ben Cleveland and Principal Susan Just. The panel explored the latest research into designing learning spaces to enhance student learning, the important role outdoor spaces play in learning, and the importance of different materials within learning spaces.

In July we were delighted to host a cocktail party for around 25 Foundation members at an event preceding the Lauriston Gala Concert, held for the first time at Hamer Hall. Guests were then treated to a wide range of musical performances which provided every girl from Prep to Year 12 with the opportunity to perform in this world-class venue.

In November we hosted an event to thank more the 50 past and present officeholders for their support over the years. This event is set to become a regular feature in the Foundation calendar.

Foundation members were also kept up to date with Foundation activities through written publications including the Annual Report (April) and the Foundation Impact Report (December). For the first time the Foundation Impact Report was distributed to the entire Lauriston community via the school magazine, Lauriston Life.

Thank you again for your support in 2019, and I look forward to working with each and every Foundation member to provide the opportunities and facilities girls need to achieve their potential.

Above: Foundation members at the pre-concert drinks, July 2019

Regardless of whether your gift was small or large, when combined these gifts have delivered positive and

identifiable impact for our girls.


Scholarship overview ZAfReen KhAn

Fundraising Coordinator

The Lauriston Foundation supports a number of scholarship programs and bursaries through its Scholarship Fund.

The Sun Foundation Bursary has supported the professional learning and development of our teaching staff since 2012. In 2019, the bursary was awarded to Cate Kalnins, a Year 2 class teacher. Cate is currently completing her Master of Education with a specialisation in mathematics at the University of Melbourne. Cate is keen on developing the existing numeracy curriculum for the Junior School girls, particularly at Blairholme.

Cate plans to use the bursary to take part in an international study tour organised by the Australian Association of Mathematics Teachers Inc., the peak body representing mathematics educators in Australia. The tours, which usually run in June and December of each year, not only provide an invaluable experience to learn about the teaching and learning of mathematics in a different cultural setting, but also provide opportunities to network with other passionate mathematics teachers from Australia and around the world.

The Diana Robertson Scholarship was established with the money bequeathed to the School to fund scholarships for students with a keen interest in history and/or humanities. The scholarship is awarded as a fee subsidy to a Year 11 student studying History. The subsidy remains in place for Year 12 provided the student continues with History as a subject. The Scholarship also supports a second student in Year 8, studying Humanities.

In 2019, we bid adieu to Year 12 student Jayde Cosford, the inaugural recipient of the Belinda Phillips Goldman Sachs

Memorial Scholarship. This scholarship is awarded every four years to an eligible student commencing in Year 10 or later, who demonstrates general excellence but with specific strengths in the area of Sport. Simultaneous to her preparation for International Baccalaureate (IB), Jayde represented Australia in the 2019 ITU Triathlon, Multisport World Championships in Spain, and finished a very commendable eighth in her age group for her category. Jayde was awarded a Hansen Scholarship to study biomedicine at the University of Melbourne. We wish Jayde the very best in her future endeavours.

In 2019, a Foundation equity scholarship was awarded to another young woman to enable her to start her Year 11 study at Lauriston in 2020. The student and her

family relocated from country Victoria in order to study at Lauriston. After receiving news of her award, the student remarked:

‘I’m so excited – it’s an amazing opportunity for me. I’m a bit nervous about moving to a new school but also excited about the range of educational opportunities available at Lauriston.’

We continue to build the corpus for the Foundation Creative and Performing Arts Scholarship: a scholarship that recognises creativity in a variety of different industries including technology, art, music and the performing arts.

Above: Blairholme girls learning the rudiments of coding


Gifts that deliver impact for generationsmARinA Johnson

Director of Advancement

Every time a family donates to the Scholarship Fund they are giving a gift that will have impact for perpetuity.

Many of our families support the scholarship program by making a gift through the voluntary levy. Others in the community show their support by donating to scholarships through our annual giving program. A third group have shown their support by pledging a special gift over a number of years. Every one of these donors recognise the impact scholarships can have, and the opportunities they provide to deserving young women.

Every gift in support of the scholarship program is directed to the Foundation’s Scholarship Fund to grow the corpus (the balance) of the Fund. The corpus is retained, and the interest generated from this corpus is used to fund our needs-based scholarships.

The Scholarship Fund was established in January 2007. With the support of gifts and pledges from the Lauriston community the fund has built a corpus of over $2 million. The interest earned from investing this balance is used to fund the Lauriston Foundation Scholarship (offered every two to three years), the Belinda Phillips Goldman Sachs Memorial Scholarship (offered every four years) and the Sun Foundation Bursary (offered annually). Community support is also growing for the Creative and Performing Arts Scholarship, which will be offered once the funding target has been reached. Read more about each of these scholarships on page 8.

Whether your gift to the Scholarship Fund is $200 or $2,000, it will help fund many scholarships over the coming years.

Four scholarship recipients have graduated from Lauriston since the Lauriston Foundation offered its first scholarship in 2011.

On behalf of these young women and future scholarship recipients, thank you for your support and the opportunities you are helping to provide.

Below: Teacher Jodie Mitchell with students in the Science Lab

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2007 2011 2015 2019

Growth of the Scholarship Fund


Endowing education through generationsZAfReen KhAn

Fundraising Coordinator

The Education Fund comprises a key area of giving for the Lauriston Foundation. Donations to this fund are not tax deductible, but have the advantage of being unrestricted on their use; meaning the School and the Foundation Board have the choice to redirect the funds to areas of highest priority to the School.

Unrestricted funds provide the School with the ability to enhance our diverse range of programs including STEM (Science, Technology, Engineering and Maths), Music, Arts and Sport. These unrestricted capital reserves also enable the School to remain focused on offering girls the programs and the opportunities they need to achieve their best, even during times of uncertainty or socio-economic downturn.

Funds are collected through direct donations to the Education Fund, or through the realisation of bequests by members of the Lauriston community. The bulk of the funds collected are invested for income-generation purposes, and primarily used to fund educational pursuits.

Since its establishment in 1999, the Education Fund has supported many important projects within the School, including activities of the Lauriston Institute, refurbishment of the Senior School Library, development of the FabLearn Lab in 2014, and the programs offered within the Lab. In 2019, the Education Fund provided additional support to supplement the Diana Robertson Scholarship, which partially reduces the tuition fees of a Year 8 and a Year 11 student studying Humanities or History.

Lauriston is privileged to have been involved in the education of generations of young women for the past 119 years. Many of our Old Lauristonians come back to the School, and are now parents or even grandparents of current students. The Foundation ensures the School remains focused on its mission to inspire girls to be courageous lifelong learners, and to be ethical and compassionate global citizens willing to make a difference to their world. It safeguards the work of our forbearers, while simultaneously working diligently to progress the teaching and learning opportunities for future generations of Lauristonians.

Below: Howqua girls and their Old Lauristonian mothers and grandmothers, 2019


Literacy supports academic successAngelA mARe

Head of Library and Information Services

The greatest gift one can give a child is the gift of reading. Reading gives creativity and imagination a chance to come alive, it expands the brain, improves writing skills, vocabulary and comprehension. It improves understanding of the world and draws out empathy. Reading offers an outstanding wealth of learning.

Dr Margaret Merga, a researcher with Edith Cowan University, is investigating the role of school libraries and teacher librarians in supporting learning in literacy and reading engagement. Her research builds on over 50 years of research showing that librarians provide significant support in encouraging literacy and literature learning. Other research supports the idea that reading fiction is also beneficial to educational success.

During wider reading classes, library staff encourage and motivate students to read for pleasure, but we also stress that regular reading enables them to succeed academically. To reinforce the idea that recreational reading gives them an academic advantage, one-on-one conferencing was trialled with the years 7 and 8 students. Students were asked to fill in a Reader Profile which garnered information about their outside interests, how often they read per week, the genres that interest them and their favourite books and authors. They were also asked to set goals for the number of books they would read in a semester and how often they will be reading per week to achieve these goals. During library lessons, both the teacher and the teacher–librarian held individual discussions with students. We used the information on the Reader Profile to

personally recommend books and to ensure that the students were on track to achieve their goals. We found that this approach was successful and will be implemented in 2020.

In addition to this more structured approach in the classroom, the library fosters a love of reading by ensuring that the shelves are well stocked with books that have been meticulously chosen to engage readers of all levels. The gifts that we receive from the community are used to purchase these print resources in addition to online resources.

We also celebrate a number of literary events throughout the year with fun competitions and activities such as author visits and attending the Melbourne Writers Festival. Reading Challenges have been established in years 5 to 9. These include the Premier’s Reading Challenge (years 5–6), the Million Word Challenge (Year 7), Book Bingo (Year 8) and the Howqua Reading Challenge (Year 9). The students love a good challenge and read furiously to help their class win the communal prize. Reading for fun goes hand in hand with academic success and the library is using everything they can to ensure that we support both.

Above: Students and staff are encouraged to share their favourite books


Elizabeth Kirkhope Circle Alix BRAdfield

Honorary Chair

In my role as Honorary Chair of the Elizabeth Kirkhope Circle (EKC) I host an annual event for EKC members and interested members of the community. In 2019 this event – Remembering our Past, Securing their Future – featured a presentation from the School Archivist – Lisl Bladin.

At this and other events, and in conversations over the years, I have come across a number of myths and misconceptions about leaving bequests to Lauriston. I would like to share these with you.

‘I don’t have that kind of money!’

Bequests come in all shapes and sizes, like individuals. Your first priority will be your family and then you may wish to carve out some extra, which can be any amount at all, for the School. Even small donations can make a difference. When you let Lauriston know that you have organised a bequest in your Will, you do not need to provide details of the amount. We would like to know because taking this step needs recognition!

A bequest is a way of giving to the future. This works for some people who prefer to defer their gift to Lauriston as well as those who have chosen to donate over the years.

‘There are people who are homeless, children who are ill and disadvantaged. Why would I select a private school over one of my favourite charities?’

Charitable organisations working tirelessly for vulnerable people experiencing hardship need to be compassionate and well-managed. As a result of their involvement with philanthropic activities at Lauriston, many students choose careers in organisations where they feel they can make a difference to society.

Your bequest may support a girl in the future to hone her skills and passion to benefit others.


‘I’m not old enough yet to think about a bequest.’

People who have decided to commit to a bequest often say it makes them feel good, at whatever age. The rapidly changing future is unknown. What we do know is that education will encourage girls to develop in unique ways to face whatever is their world beyond ours. Imagining being part of that new world is exciting.

Whenever you decide to make or review your Will, which is an important aspect of managing your financial affairs, you can simply add an amount that you wish to go to Lauriston, knowing that this thoughtful gesture will be so very much appreciated. Your solicitor will guide you in designing a Will that ensures your estate is organised as you wish.

‘If I did leave money, I wouldn’t even know what would happen to it!’

While it is true that you could simply leave a sum, of any amount, to the School without stipulating a purpose, it is also true that you could ask that the donation be used for something that is meaningful to you. That could be early learning, science, sport, scholarships, music, Howqua, staff development, library or whatever is important to you.

‘It’s all too complicated to arrange a bequest.’

Actually it’s one of the easiest ways to express the value you place on education for girls, which has always been and will always be a significant gift to young women of the future. You are making a decision to provide a gift in your Will, which means you have glimpsed at a girl’s future where her choices for a richer life of learning, service and contribution to her world takes you along with her.

I am delighted to announce that in July 2019, Bo Rutecki joined the Advancement team with responsibility for growing Gifts in Wills at the School. Bo, who has worked in schools and the not-for-profit sector, has been working with our community, discovering their stories and sharing information on the role the Elizabeth Kirkhope Circle plays in furthering girls’ education at Lauriston.

If you would like to learn more about the Elizabeth Kirkhope Circle or how you can help support girls’ education, please contact Bo on +61 3 9864 7680 or [email protected]

Current Elizabeth Kirkhope Circle membersBall, RickBeaurepaire, Denise (Goodman, 1967)Beckett, Jennifer (McMenamin, 1965)Beckingsale, Louise (1969)Bradfield, Alix Cocks, Johndonaldson, Lachiefreemantle OAM, Jane (Mason, 1966)graham OAM, Angus and NatalieJust, SusanKimpton OAM, Zara (1963)morrison, Johnmorrison, Karennixon, Kate (1986)Ullmer, Michael Wells, Pera (1966)

Two anonymous bequestors

Past Elizabeth Kirkhope Circle members Bayly, Lilian† (Cruthers, 1930)Bayly, Stanislaus†Belshaw, Patricia† (1930)Best, Joan† (Ramsay, 1932)Crickmer, Joyce† (1936)davies, Gladys† (1927)estate of the Late Edward Wilsonfox, Gwyneth† (1920)halliday, Richard†henderson, Leslie† (1913)himmer, Myria† (Sykes, 1911)hollyer, Sarah† (1967)hook, Jean†Jones, Josephine†owen OAM, Mary† (Evans, 1936)Plenderleith, Jean† (Hutchings, 1931)Radford, Pamela† (1939)Robertson, Diana† (1966)smibert, Dr James† Tegner, Merrin† (Gray, 1964)

Education will encourage girls to develop in unique ways to face whatever is their world beyond ours. Imagining being part of that new world is exciting.


Building the future mARinA Johnson

Director of Advancement

Providing girls with modern facilities has long been a focus for Lauriston. It was one of the first girls’ schools to build a gym (1969) and a swimming pool (1989). A dedicated Science and Resource Centre was opened in 2000, followed by the Lilian Bayly Centre (2007) and the FabLearn Lab in 2014.

As an inner-city school we do not have the luxury of additional land so in recent years a masterplan has been developed to ensure effective use of our existing footprint. The masterplan focuses on consolidating various parts of the School, creating specific precincts, and drawing upon contemporary research on learning spaces to meet the future needs of students, teachers and parents.

The It’s Her Turn campaign was created to help fund new facilities including a new Sports, Health and Wellbeing Precinct, a unified Junior School on the Armadale campus and an Early Learning Centre at Blairholme.

The projected cost for these developments is around $40 million. The School doesn’t receive any grants from the government for capital development works so in recent years the focus been on saving the funds needed to cover the majority of costs. The It’s Her Turn campaign will ensure the facilities can be completed without entering into debt, and to a high standard.

In 2019 the campaign attracted gifts and pledges of support totalling $2,066,041. Thank you to each and every one of our 111 donors who are drawn from across the Lauriston community; current and past families, students, staff and of course our alumnae.

Special thanks to the Lauriston Parents’ Association, who have shown their support for the campaign by making a major gift to help fund the Health and Movement Studio in the new Sports, Health and Wellbeing Centre. This Studio will provide a dedicated space

to practise yoga, Pilates and allied activities, and will also enable the Sports department to broaden the range of non-traditional physical activities offered.

It was wonderful to receive a campaign gift from current student Chloe Di Gemma (2019) who was heavily involved in the Sport program throughout her Lauriston journey. Chloe made her gift to show her support of both the program and the staff, as well as future generations of Lauristonians.

The Class of 1999 has also rallied to show their support for today’s girls and future generations. We hope other year groups are inspired by this group and show their support in 2020. Regardless of whether a gift is small or large, combined these gifts help us towards our $5 million goal.

As we enter 2020, the carpark is almost complete and the grass has been laid on the playing field. Our fundraising efforts continue, and we will strive to provide our community with a range of opportunities to be part of It’s Her Turn campaign. For more information on the campaign and how you can show your support, please contact Marina Johnson on +61 3 9864 7582 or [email protected].

Left: Aerial photo captures grass being laid on the playing field

Right: Rowing demonstration in Irvine Courtyard

Far right: Yoga sessions in Irvine Courtyard


mailto:johnsonma%40lauriston.vic.edu.au?subject=

Campaign donors (as at 31 dec 2019)

Adams, Wendy (1999)Arnold, Elspeth & IanAyres, Lisa Anne & Roberts, MarkBackwell, Kate & PeterBall, Christine & RickBaum, Annabel J (2012)Baum, Georgina L (2009)Beischer, Andrew & EllenBongiorno, Jack & AnneBradfield, Alix & RossBruce, Georgie, Robert & MardiCattermole & Canning FamiliesChadwick, Nigel & SusanChambers, Andrew & GenevieveChan, Hue & Vincent, Carina (2015) & Jonathan (2018)Cook, Gillian (Ferguson, 1951) & RobertCui, Helen & Xu, JackCurro, TraceyDi Gemma, Chloe (2019) & Di Gemma, DianeDing, Qiumei & Jiang, TingDixon, Eva & ChrisDvir, Moran & GillEllen Zheng FamilyElmer, Sandra (Hallamore, 1999)Fang FamilyFicarra, Mina & Houghton-Allen, NigelFinster, Fiona (Marshall, 1991) & RichardFitzgerald, Caroline (Pearce, 1999) & AaronFletcher, Lisa & MarcusFox FamilyFreemantle OAM, Jane (Mason, 1966) Gillespie Family FoundationGolusin Family

Gomez FamilyGraham & Cohen FamiliesGraham, Natalie & Graham OAM, AngusGray, Kirsten (1983) & Taylor, DamianGriffith, Rosemary & KelvinGunawan, Rosa & TonyGuo, JingjingHackett, Louise & David Haldane, Liz & ClydeHarle FamilyHillier, Jane & NigelHo, Charissa & JamesHumanity FoundationHunt, Georgina (Thomas, 1992) & SamIngham, Elizabeth (Morrow, 1963) & PeterIrons FamilyJack Z FamilyJohnson, Marina & DarylJust, SusanKhan, ZafreenLansarova, Soniiam & Ma, HanchengLauriston Parents’ AssociationLee, Juliette (1984) & Tan, ErwinLi, Jingyi & Chen, JunLin, Lynne & Phillips, AdrianLiu, Wei Qun & Qiu, Yu MingLu, Li & Yau, Kam ManM & J Rockman FoundationMarks, Caroline & Kane, RobertMcGuirk, Heather (Boykett, 1985)Missingham, Laura (1999) & Liu, CharlesMo, Sylvia & Huang, Kelvin , Polly & MandyMorris, Bec (1999) & Whitton, JamesMorrison, Jessica (2010)Morrison, Karen & John

Morrison, Rebecca (2013)Murray, Katherine & JamesNie, Sophie & JoannaO’Brien, Katrina & ThomasOfficer, Georgie (Farquharson, 1993) & RobertO’Sullivan, Charlotte (1999)Ou, Sybil (2015)Pacalt-Shady, Kate & Shady, JamesPan, Fang & Liu, MichaelPark, Kitty (Farquharson, 1990) & DeanPatterson, Nicole & StuartPerelberg FamilyPhilip, Mary-Lou (Doggett, 1949) & BillRalph, GlendaRandall FoundationRobinson, Alice (1991)Roche, Georgie (Beddison, 1999) & EdwardRyan, Kerry & Klok, AnthonySmibert, Linden (1968)Stack, Leonie, Mitchell & ImogenStebbens, Pat & TobySzabo, Joanna & TamasTan, CatherineToms, ChrisUmbers, Lynne & RichardWalker, Elli (Reason, 1988) & CampbellWang, Maggie & DavidWarner, Grace & IanWebb, Nathalie & Holmes, ChristopherYang FamilyYang, Michelle & Chen, PeterYuvaraj, Kanchana & Jagadeesan, RajZhang, Wendy & Chen, Douglas Zhang, Yani

Eight anonymous donors



Donors to the Lauriston Foundation (1 JAnUARY - 31 deCemBeR 2019)

Adams, Judith (Johnston, 1946)Adams, Wendy (1999)Agostinelli, Lynette & DanielAlbrecht, Joanne & JohnAllen, Kate & EdAllis, Janine & JeffArden, Gayle & DavidArnold, Fleur (Macneil, 1986) & Ian Atkins, Emily (Donaldson, 1991) & SamAttwood, Louise & AlanAyres, Lisa Anne & Roberts, MarkBadger, AnnBall, Christine & RickBarbour, Heather (Watts, 1974)Barnes, Genevieve & Anderson, Ben Barrett, Suzanne & KeithBartels, Sarah & NicholasBaum, Annabel J (2012)Baum, Georgina L (2009)Beanham, Sandra Beatty, Julie & Yee, AndrewBeischer, Ellen & AndrewBergland, Likky (Thomas, 1969)Bessell, Peta & BenBiggins, Liberty & JamesBradfield, Alix & RossBriskin, Elizabeth & DavidBrookes, Robina & AndrewBrown OAM, Suzie (Metz, 1959) & HarveyBrownell, Rachael & MarkBruce, Georgie, Robert & MardiBulach, Catherine & RickButler, Julia & EdCai, Maggie & Liu, Xiao FengCai, Selina & Sun, ShilinCai, ZhiHui & Wang, JunHengCameron, Melissa & MattCameron, Sarah (Dahlsen, 1985) & JamesCatanese, Sarah & JoeCattermole, Rebecca & HughChambers, Loreen & JohnChan, Hue & Vincent, Carina (2015) & Jonathan (2018)Chang, Jane & Wong, LeeChappell, Liz & Day, MilesChe, Stella & Wang, Echoes Chen, Alma & Xiao, WilliamChen, Liping & Shen, QingmingChen, Na & Bai, JingweiChen, Yeling & Wang, YangChu, Ying & Li, HuiChung, Caroline & Bao, EddieCohen, Vanessa (1988) Cole, Geoffrey Coughlin, Fiona & MarkCrombie, Sharon & RayCui, Helen & Xu, JackCunningham, Liz (Mildred, 1951) Curro, TraceyCurtis, Felicity (1970)

Dai, Hong & Chen, HaoDanks, June (McMullin, 1948)Deague, Ella & JonathanDi Gemma, Chloe (2019) & Di Gemma, DianeDing, Qiumei & Jiang, TingDixon, Eva & ChrisDixon, Joanne & JohnDonaldson, Caroline† & LachieDong, LauraDonnelly, Peta & MichaelDowd, Lisa (1982) & Stewart, RobDriver Group Australia Pty Ltd D’Souza, Vanessa & Borgonha, Calvin Du, Linda & Zhang, TomDvir, Moran & GillEllen Zheng FamilyElliott, Najla & ShayneElmer, Sandra (Hallamore, 1999)Evans, Kate (1989) & Haigh, RichardFahey, Janine & Saunders, ScottFan, Mae & Li Ping Fang FamilyFarago, Jane & Jones, GavinFarquharson, Jayne & CharlieFeng, Wendy & Li, StevenFinster, Fiona (Marshall, 1991) & RichardFitzgerald, Caroline (Pearce, 1999) & AaronFitz-Gibbon, Pamela (Kaye, 1971)Flanagan, Emma (Carter, 1978) & GrantFluitsma, Jessica & AndrewFong, Janet & Mark, LesterFox FamilyFox, Katrina & AndrewFreemantle OAM, Jane (Mason, 1966) Gao, Dian & Cui, Mike Gao, Tingting & Sun, ZanfengGarde, Catherine & Walta, Patrick Garschagen, JoannaGastevich, Janine & MichaelGattereder, Jutta & RobertGilfillan, Fiona & AngusGill, Natalya & Kornhauser, Larry Gillespie Family FoundationGlover, Joan† (Barwood, 1935)Golets, Victoria & MarkGolusin FamilyGomez FamilyGough, Janie & TimGraham & Cohen FamiliesGraham, Natalie & Graham OAM, AngusGray, Kirsten (1983) & Taylor, DamianGray, Prue (Champion De Crespigny, 1969) & PhillipGreig, Akiko & KentGruner, HarryGu, Wenjing & Zhai, ShuchunGuest, Sophia (1965)Gunawan, Rosa & TonyGunn, Angela & NeilGunnersen, Julie (Grieg, 1962)

Guo, Anna & Li, KevinGuo, JingjingGuo, Julia & Weng, Gordon Guo, Yanping & Zhou, YeGuo, Ying & Eveston, Andrew Ha, Thanh & Nguyen, ChuongHackett, Louise & DavidHaddock, Jo & Ryan, NathanHaldane, Liz & ClydeHamilton, Melissa & JeremyHann, Fiona & SimonHao, Linda & Xiang, Linnan Harben, Caroline & Saul Harkness, Jacqueline & JamesHarle FamilyHayes, JacquieHaynes, Carol & Williamson, SkippHe, Faye & Wu, James He, Karen & Chen, LiangHearst, Rose & JohnHellstrom, Jane (Henry, 1956) & MichaelHenshaw, Anna (Telford, 1990) & JamesHill, Tori & AndrewHillier, Jane & NigelHo, Charissa & JamesHosey, Andrea & DavidHoullevigue-Chung, Astrid & Chung AlexHourigan, Kylie & Forster, Tristan Huang, Anna & Zhang, Liang Humanity FoundationHunt, Georgina (Thomas, 1992) & SamHuo, Shuyan & Martin, IanHutchinson, Alexandra & Schmaedeke, MichaelIngham, Elizabeth (Morrow, 1963) & PeterIngham, Kirsty & AndrewIngram, AndrewIrons FamilyJack Z FamilyJackson, Andrea & Sheridan, Adam James, Ros & BenJeffs, Leanne & RickyJennings, Clare & IainJi, Sol & Han, CharlesJohnson, Marina & DarylJohnson, Sue & PhilipJP Books Victoria Pty Ltd Just, SusanKang, Jiong & Cao, Xue JunKang, Sonia & Pei, Ray Kee, Lier Deng & Deng, Danny Kelly, Lynda & SimonKendall, Margaret (Street, 1954) & TimKhan, ZafreenKhanijou, Anou & McPherson, Greg Kim, Cho Yee & Ho, StevenKim, Lauren & Lim, BernardKimberley, Emma & SamKimpton OAM, Zara (1963)King, Megan & Scott


Klein, Jenny & PedrKlemens, Cathy & MarkKong, Nancy & Li, ChinoLandau, Shanaz & MarkLansarova, Soniiam & Ma, HanchengLauriston Parents’ AssociationLee, Juliette (1984) & Tan, ErwinLe-McBain, Hoa & McBain, Maurie Li, Agnes & Zhang, ShengLi, Celine & Sui, ColinLi, GavinLi, Jingyi & Chen, Jun Li, Li & Lin, WenhaiLi, Linda & Zhao, Qianshan Li, Mo & Wang, PengLi, Sherry & Liu, LeonLi, Xiaomin & Dai, PengLi, Zan & Liang, WilliamLiang, Celine & Wang, YongLin, Debbie & Su, StevenLin, LeoLin, Lynne & Phillips, AdrianLines-Perrier, Prudence (Perrier, 1987) & ScottLiu, Jing & Ye, ChangqingLiu, Teresa, Gao, Jack & Gao, Angela (2019) Livy, Clea & AndrewLoh, Andrea & Tan, Arthur Long, Mary-Ann & JustinLourenco, Grace & Kok, Kevin Lovett, Judy (Donald, 1970)Lu, Jing & Xie, Xiao DongLu, Kiko & Gong, RoyLu, Li & Yau, Kam ManLu, Yanli & Xu, XianmingLucente, Puteri & FrankLumby, Danielle & Mark Luo, Louisa & Huang, HarrisonM & J Rockman FoundationManzoori, Monia & AnooshMarks, Caroline & Kane, RobertMcGrory, Mish (Poynter, 1984) & SteveMcGuirk, Heather (Boykett, 1985) McKendry, Elissa & Frlan, DarrenMcLennan, Sam & FraserMcNamara, Kiralee & AndrewMeharry, Catriona & CraigMintzas, Dimitra & AndrewMissingham, Laura (1999) & Liu, CharlesMo, Sylvia, Huang, Kelvin, Polly & MandyMolony, Edwina & Hunter, DavidMorris, Bec (1999) & Whitton, JamesMorrison, Karen & JohnMould, Diane (1972)Murphy, Dawn & JasonMurray, Katherine & JamesMustow, Kimberley & DavidMustow, Robin (Johnson, 1957)Napier-Colville, Kylie & Colville, JohnNeilson, Julianne & DerekNgo, Man & Xu, MinNie, Sophie & JoannaO’Brien, Katrina & ThomasO’Callaghan, Sharon & John Old Lauristonians’ Association NSWO’Sullivan, Charlotte (1999)Ou, Sybil (2015) Pacalt-Shady, Kate & Shady, James

Papadopoulos, Effie & SavvaPark, Kitty (Farquharson, 1990) & DeanPaulusz, Jacqueline & MarcPearce, Heather & JohnPembrook, Amanda & Kirsner, LindsayPerelberg FamilyPerikala, Vara & Filiex, PrasadPhan, LilyPoon, Stefanie & MartinPrentice, Leon & TrishaProcopiou, Nellie & Stefanou, PeterPunchihewa, Surani & HemanthaPyman, Tanya & AndrewQi, Jasmine & Li, HuikeQiu, Yu Ming & Liu, Wei QunRaines, Suzie & JossRalph, GlendaRawlins, Claire Redwood, Vicki (Canning, 1971) & AndrewReeh, Keats & ThomasRoberts, Lloyd Robinson, Alice (1991) Roche, Georgie (Beddison, 1999) & EdwardRooney, Jane & Treloar, Mark Rosen, Sheryl (Topol, 1991) & PaulRoss, Gayle & TimRubenstein, Naomi & SimonRyan, Raquel & DavidRyan, Virginia & Muir, JordanRyan, Yiwen & EugeneSandell, Tiffany & DavidScott, Pam & AndrewSculley, Suzie & Daniel Seedat, Rehana & Chowdhury, MohammadSha, Susan & Jin, AndrewShaikh, Shahina & Barmare, ArshadShankara Murthy, Ganga & Jayappa Gowda, HarshaShao, Jing & Gong, PingShen, Emma & Mao, MikeShi, Sharon & Cui, ShuchengSkilton, Krystel & Jon Skinner, Christina & AndrewSmibert, Linden (1968)Smith, Alicia (Brown, 1992) & AndrewSmith, Amanda (1993) & Skinner, Brent Somani, Dinar & Alani, NishadSong, Faye & Liu, SparkSpeirs, Susan (Rodd, 1964)Stack, Leonie, Mitchell & ImogenStebbens, Pat & TobySun FoundationSun, Amanda & Li, BoSutherland, Bridget & AlastairSzabo, Tamas & JoannaTan, CatherineTeoh, Win & Ho, Ben Thompson, Angela & TomThomson, Judy (Rogers, 1948) Thornton, NickTilleard, Margaret (Armstrong, 1968) & JohnTomlinson, Emily (Dortimer, 1994) & ChristianToms, ChrisTran, Lucy & Hai

Tregear, Ann (Simpson, 1955) Truong, Phung Tse, Rit & Wu, PeterUllin, MargaretUllmer Family FoundationUmbers, Lynne & RichardUppal Ghosh, Anita & Ghosh, SaugataVengurlekar, Gita & Bajel, AshishWakeford, Jessica & Wakeford, BruceWalker, Elli (Reason, 1988) & Campbell Wang, Jennifer & Zhou, Yongqiang Wang, Jia & Chen, Baisen Wang, Maggie & DavidWang, Rose & Qiu, QiYouWang, Sophie & Ren, Huiyi Wang, Stella & Qu, StevenWang, Yang & Li, QiWang, Yoki & Xie, Johnny Wang, Yuhong & Yan, Chaozhou Warner, Grace & IanWebb, Nathalie & Holmes, ChrisWei, Dong & Cui, FrankWenzel, Jo & AndrewWhite, Kirsten & DuncanWieden-Sim, Ursula & Sim, MichaelWilliams, Nanette (Walpole, 1966) & GeoffreyWong, Chew Wan & Ng, LawrenceWong, Yen & Wilson Wood, Emily & AndrewWu, Frances & Mou, ElyWu, Hao & Hu, Shihua Xia, Jingqi Xu, Ellen & Huang, XianhanXu, Linda & Zhou, JosephXue, Katrina & Jiang, YiYan, Jingjing & Liu, TaoYang, Michelle & Chen, PeterYang, Minjie & Wu, Harry Yang Family Yao, Grace & Kuang, HuaweiYee, Sun & Soh, BryanYin, Guoxin & Yuan, LinYoung, Katherine & Chamberlain, JonathanYuan, Hongmei & Liu, YapingYuan, Stephanie & Cao, ShawnYuvaraj, Kanchana & Jagadeesan, RajZaparas, Vicky & YianniZhai, Tina & Yi, Zheng chunZhang, Guoqin & XujunZhang, Jun & Yao, Jiangang Zhang, Vivian & Xu, LinZhang, Xiuqin & Xiao, DongZhao, Betty & You, FeiZhao, Daisy & Liang, Yangyang Zheng, Jane & Zhang, Eric Zheng, Yi & Li, JunchengZhong, Jojo (2017) Zhou, Jue & Chen, HaoZhou, Regina & Hong, HaitaoZhu, Min & Sun, Wei Zou, Shuchai & Fan, Houjin

Five anonymous donors




Lauriston Foundation Members As AT 31 deCemBeR 2019

Huntingtower CircleBayly, Lilian† (Cruthers, 1930)gillespie family foundationlauriston Parents’ Association Phillips, Annabelle & Richard

PatronsBall, Christine & RickBayly, Stanislaus†Brooks, Anne & Frazer, Murrayfox familyhollyer, Sarah† (1967)humanity foundation Jones, Josephine†Kirby, Carolyn & JohnKirkpatrick, Jack†m & J Rockman foundationscott, Pamela & AndrewWalker, Elli (Reason, 1988) & CampbellYang Family

FoundersArnold, Elspeth & IanBaker foundationBlake dawson WaldronBradfield, Alix & RossCameron, Sarah (Dahlsen, 1985) & JamesCattermole & Canning familiesCollins, Mandy (Wright, 1967) & Collins AM, JohnCramond, Bronwyn & David†dixon, Grahme†donaldson, Caroline† & Lachiedonges, Patricia (Elvish, 1953) & John†fitz-gibbon, Johnfitz-gibbon, Pamela (Kaye, 1971)griffith, Rosemary & Kelvinhalliday, Dorothy & Richard†hamer, Margaret† & Alan†happell, Tatty & Michael ho, Charissa & Jameshook, Jean†Johnston OAM, Caroline & Johnston, CamKalus, Susie & Allanlauriston Arts Associationlauriston Rowing Associationle maistre, Edwina (1972) & Watson AO, Brian

lu, Li & Yau, Kam Manmaimur, Jennene & Andrew marriner, Elaine & DavidmcComb, Liz & Brucemcintosh, Marita & JohnmcKay, Lorna†morrison, Karen & Johnnorton, Natasha & Alasdairo’Brien, Eleanor & Johnold lauristonians’ Association Paterson, Barbara & RobertPayne, Stan†Renard, Diana (1968) & IanRio TintoRobertson, Diana (1966)†scott, Anna & Petersloan, Mardi (Newton, 1951) smibert, Helen† & James†szabo, Joanna & TamasThompson, Judy & GaryUllmer family foundationUmbers, Lynne & RichardWachtel, Linda (Velik, 1974) & Michael Warner, Grace & IanWicking, Janet (Thompson, 1937)† &

John†

GovernorsAskew, JamesAyres, Lisa Anne & Roberts, Mark Barnett, Anne & DavidBassett, NancyBassett, Ronald†Belshaw, Patricia† (1930) Bongiorno, Anne & JackBrookes, Robina & AndrewBrown, LynBrown, RayBrowne, Debbie & JeffreyBruce, Georgie, Robert & Mardi Chambers, Loreen & JohnClifford, Susan & Clifford AO, Leigh Collier Charitable TrustCook, Gill (Ferguson, 1951) & Robert davies, Gladys† (1927)di gemma, Chloe (2019) & Di Gemma,

Dianedowd, Lisa (1982) & Stewart, Rob fang family

fox, Gwyneth† (1920)gibbons, Stephengill, Natalya & Kornhauser, Larrygoodchild, Juliet & Colingunn, Angela & NeilKirkhope, JohnKwiatowski, Gillian & Anthonyladbury, Pamela & Richardlithgow Familymadsen, Andrewmadsen, Trudy mcComish, Anne & Brucemcgregor, Patricia & GeorgemcQueen, Pam (Fraser, 1962) & Andrewmichelmore AO, Janet & Michelmore AO, Andrewmontgomery, Patsy & Trevorniall, Louise† & Niall AO, Gerry† o’Brien, Katrina & Thomasorr, Johno’sullivan, Geraldine (Newton, 1963) & JohnPearce, Heather & JohnRedwood, Vicki (Canning, 1971) & Andrewschutz, Susan & Edwardshergold, Shelley & Johnshi, Guimei, Guo, Feng & Guo, Jingjing spargo, Jill & Stephensquires, Mary & Colin stack, Leonie, Mitchell & ImogenTaylor, DeborahTideman AM, RuthUllin, MargaretVann, Vicki & BradWebb, Nathalie & Holmes, ChrisWetherall, Peter†Yuncken, Barbara & Thomas†

One anonymous Governor member


TrusteesActon, Sarah & PeterAdCo Constuctions P/l Airey, Sally & DavidAndrew, Mardi (Marshall, 1974) & Andrew AO, Michael†Argyros, Jane (Gadsden, 1969) & SteveAttwood, Louise & AlanBainbridge, Moira & PhilipBarker, Heather (Webb, 1966) & NeilBarkley, Pamela (Rodd, 1967) & DouglasBeischer, Ellen & AndrewBest, Joan† (Ramsay, 1932)Blandy, Barbara & BillBoykett, Carol & DavidBrett, Gayla† & CharlesBufe, Sally (Gray, 1957) & HansBurnett, Winifred & Barrie, DonCalvert-Jones AO, Janet & Calvert-Jones AM, JohnCampbell, RobinChadwick, Susan & NigelChan, Hue & Vincent, Carina (2015) & Jonathan (2018)Clark, Lindy & RobbieCohen, Frances & RossCollins, Jennifer & Collinson, Peter Collinson, Jane Cooper, Elizabeth & ChrisCowles, JanetCox, Beverley & JohnCrompton, Cynthia & Andrewdanks, June (McMullin, 1948)darvall, Sue & Tonydavidson, Mary & Davidson AM, Frederickdixon, Eva & Chrisdortimer, Jill & Tonydowling, Rosemary & Michael driver group Australia Pty ltddruitt, Julie & Dougdvir, Moran & Gillegerton, Suzanne & David† ellen Zheng Familyestate of the late edward Wilsonevans, Ianfarquhar, Bronwyn & Alanfarquharson, Jayne & Charlieficarra, Mina & Houghton-Allen, Nigelfinster, Fiona (Marshall, 1991) & Richardfirkin, Judith & Frankflanagan, Emma (Carter, 1978) & Grantfletcher, Diana & Kenfletcher, Lisa & Marcusfoley, Robyn & Russellfreemantle OAM, Jane (Mason, 1966) & Jamesgass, Johngaylard, Jenny (Plenderleith, 1965) & Michaelgolusin Familygomez Familygooley, Marion & Stuart

gordon, Marie & Raygraham, Natalie & Graham OAM, Angusgullifer, Kate & Timham, Sue & Johnhamer, Amanda & Richardhamer, Andrea & Jonathanharkness, Rosie & Philipharle Familyhasseldine, Di & Richardhenderson, Leslie† (1913)henshaw, Margaret & Graemehimmer, Myria† (Sykes, 1911) & Rudolph†hone, Anthea (Milne, 1964) & Geoffhunt, Georgina (Thomas, 1992) & Samhunt, Gill (Easton, 1983) & Gileshutchings, Emilia & Johningham, Elizabeth (Morrow, 1963) & Peterirons Familyisik, ReneeJack Z FamilyKantor, Silvia & MichaelKeon-Cohen, June & BryanKimpton OAM, Zara (1963)lane, Betty & Robertlansarova, Soniiam & Ma, Hanchenglathrop, Anni & Williamlee, Juliette (1984) & Tan, Erwinleeming, Susan & Warickli, Jingyi & Chen, Junli, Ming & Souphan, Homliner, Kathleen & Dennislinley, Thea & Peterliu, Bang-Tung & Su-Fenliu, Teresa, Gao, Jack & Gao, AngelamacKinnon, Janette & Kennethmaplestone, Mickmarks, James†martin, Anthonymartin, BeverleymcCracken, Beverley & GeoffreymcCubbin, Ianmcdonald, Marie & Clark, Sandymcinnes, Sally (Bell, 1963) & JohnmcKenzie, Sally-Anne (Haisman, 1973) & Johnmitchell, Kirsten & Malcolmmo, Sylvia & Huang, Kaiyang, Polly & Mandymonjon (Australia) Pty ltdnettle, Wendy & Nettle AC, Geoffreynewman, Hyeon-joonewman, Marknie, Sophie & Joannao’neale, WarrenPan, Fang & Liu, MichaelParncutt AO, BrucePearce, Libby & MarkPerelberg FamilyPhilip, Mary-Lou (Doggett, 1949) & WilliamPitt, Ro (Flude, 1969) & GeorgePlenderleith, Jean† (Hutchings, 1931)

Prince, Fiona & MilesPyman, Helen & TonyRalston, Jill & MartinRandall foundationRendell, Kathy & RichardRichardson, Louise & MartinRoberts, LloydRobinson, Alice (1991)Robinson, Judith & Michael†Rodd, Angela (Kellar, 1964) & MichaelRoeder, Paula & RobRogers, Rosemary† (Niall, 1967) & NicholasRowland, Linda & MichaelRussell, SophieRyan, Susan & Geraldsalter, Deborah & Michael sandaver, Susan (1990) & Robertsanghvi, Dina & Dipakschiavello, Gabriella & Konselby, Susan & Graemeshanks, Josephine & Robertshaw, June & Jimsinger-scanlan, Julie & Scanlan AM, Philsisson, Andrewskillington, Karen & Peterskinner, Christina & Andrewsmibert, Linden (1968) smorgon, Michelle & Robertstaughton, Michelle (Dundas, 1984) & Davidstephen, Mary (1967) & Hayes, Peter†stewardson, Jenny (Walpole, 1964) & Robin†strahan, Diana & John†stuart, Marina & Roberts, Michaelsykes, Bev & Barrysyme, Rosemary & RobinTallent, Sarah† & RichardTan, Cathy & Crowe, PhilTanzer, Janine & MichaelTaylor, Trish & Mansfield, GeoffTegner, Merrin† (Gray, 1964)Thacore, Susan & SharadThe s C & C l mackinnon TrustThompson, Jenny & JeffTole, Zoe & NicholasTregear, Ann (Simpson, 1955) & David†Von Bibra, HenryVon schoenberg, Julie & MichaelWaters, Julie & JohnWharton, Joey† & StephenWieden-sim, Ursula & Sim, MichaelWilson, Ann & StephenWormald, Jo & NickWorth, Helen & DavidYan, Nancy & Lin, OscarYencken, Janet & EdwardZhang, Guoqin & Xujun

Three anonymous Trustee members


Fellows Akerman, Suzanne & PiersAllard, Adele & PeterAmarasekara, Jayanthee & AnilApostolov, Svetlana & VladArchibald, Jo & IanBackwell, Annabel (Griffith, 1983) & MichaelBaker, Kate & DesBaras-miller, Anna & StevenBartlett, Jan & BillBatchelor, Gabriella & RichardBatt, Margaret & Batt AM, JohnBattaglia, Lana & FrancisBaum, Annabel J (2012)Baum, Georgina L (2009)Beanham, SandraBerman, Roslyn & PeterBessell, Peta & BenBlamey, StephenBliss, Andrea & PhilipBlue, Hellen & DanielBodsworth, TrishBrady, Debbie (Marks, 1980) & BenBright, Primmy & CharlesBrown, Helen & PeterBrown, Roslyn & JohnBrownell, Joanna & DavidCameron, Elaine† (Lucas, 1928)Campbell, Georgie & ThomasCampbell-findlay, Anna (Campbell, 1989) & Findlay, PeterCanavan, Helene & ChristopherCantwell, TomCarter, Mary & BoydCastan, Sue & RichardChandler, Suzy & Chandler OAM, JohnChehata, Sarah & AshChiew, Ing & Sijercic, JackChisholm, Ann (O’Connor, 1964) & IanClark, BenedictClarke, Christina & Clarke AM, JulianCollis, Marion & StephenConley, JennyCooper, MaryCox, Amanda & TimothyCreese AM, Nigel†Crickmer, Joyce† (1936)Cunningham, Winonah & Roderickdahlsen, Gillian & Johndanos, Evelyn (Mandie, 1968) & Thomasdartnell, Victoria & Zacharakis, Kimdavey, Phillipa & Richardday, Christine & Nevillede Crespigny, Virginia & Showalter, Mark†dessewffy, Marie-Therese† & Aureldobson, Sue & Iandunphy, Anna-Belldunphy, Christopherduroni, Oliver†dyer, Robyn & Davidearle, Jane & John

edelstein, Julie (Wilkinson, 1962) & Kennethedwards, Julie & Eltonemerson, Geraldine & Johnfader, Julian†fahey, Janine & Saunders, Scottfanning, Jenny (Ferguson, 1947)fenner, Robin† & Anneferris, Rachel & Nicholasfitzroy, Jannfreeman, Jackfreeport-mcmoran foundationfrenkiel, Terri & Green, Irvingfuji xerox Australia Pty ltdfullerton, Veryan & Johngalbraith, Lisa (1981) & Murdoch, Geoffgallagher, Lindagarner, Hughgaskin, Margaret & Paulgaskin, Penelope (1992)gibbins, Helen (Officer, 1966) & Johngillies, Liz (Metzner, 1981) & Simongirard, Jerome & Clareglover, Annabel (Forsyth, 1985) & Billgodwin, Sue & Iangraham & Cohen Familiesgrant-lipp, Phemie† (1945)gration, Tania & Douglasgray, Kirsten (1983) & Taylor, Damiangreenaway, Paulgriffiths, Stephanie & Johngu, Jingu, Lucy & Kevinguenzi, Gabriella & Buckley, Petergunnersen, Julie (Grieg, 1962) & Peter†habersberger, Pam & Peterhallinan, Jonathanhamilton, Mariahansen, Meg & Kindley, Garryharkness, Jacqueline & Jamesharland, Sarahharris, Sue & Graemeheath, Sharon & Bladen, Davidheine, Lesliehoff, Jenny & Kimhoggard, Sally & Richardholmes, Caroline & Tonyhuang, Vanessa & Jiang, Markhuo, Shuyan & Martin, Ianhurley, Emma & Michaelissa, Margaret & KarimJago, Michelle & WilliamJames, Charlotte (1991)James, Elizabeth & ChrisJames, Gabrielle & MichaelJamieson, Susan & RobertJewell, AndrewJohnson, Anna & DavidJohnston, Anna (Johnston, 1981) & goad, PhilipJones, MartinJones, StephenJones, Victoria

Kassimiotis, Effie & TonyKatona, AndrewKaufman, Jenny (Wright, 1966) & DavidKeast, Lois† (Righetti, 1934)Kee, Lier Deng & Deng, DannyKeebaugh, Chyka & BruceKing, Julia & RussellKing, Lyn & JeremyKlein, Jenny & PedrKnowles, Fleur Kumbla, Surekha & Koottayi, Sathyajithlambourne, Michaellander, Deirdrelang, Diane & Ianlau, Dzung & Leelazarus, Ruth & Robertlee, Irene & Tonylemanis, Melissa & Johnleung, May & Davidlewis, Mrs & Mrlewis, Prue (Hayward, 1972) & Timli, Baoyu & Gangli, Teresa & Tan, Tommyli, Tracyli, Lily & Du, Peterlin, Lynne & Phillips, Adrianliu, Lan & Weiliu, Michaellochert liley, Cristina & Liley, Michaellodge, Lesley & Paullong, Mary-Ann & Long, Justinlording, Elizabeth & Douglaslowe, Yoke Ping & Grahamlu, Jing & Xie, Xiao Donglucente, Puteri & Frankluo, Wei Hong & Cheng, XiongQianglutz, Rosita & Victorlynch, Lynden & Ianmacdougall, Ruth & Petermacgowan, Adele & Kenmaddern, Kylie (1985)magit, Yelena & Gennadymannering, Wilmamarasea, Sarina & Sammaren, Gerry & Gregmarks, Caroline & Kane, Robertmartin, Mary & Roymartin, Sarah (Meldrum, 1965) & Petermatthews, Rosemary (Miller, 1954) & PetermcComas, Campbell†mcdonald, Margaret & Allan†mcKeand, Lee†mcKendrick, Kerry (Aberdeen, 1977) & Kimmead, Christinemead, Stephenmeallin, Jan (Cullen, 1956)menzies, Fionamerigan, Kim & Richardmilledge, Mandy (Gray, 1972) & Jimmonotti, Alison (Moss, 1973) & Andrew


montgomery, Penny (Walford, 1966) & Paulmoonlao, Tan & Taylor, Geoffmoran, Rita & Petermorris, Jane (Richards, 1977) & Petermorrison, Jessica (2010)morrison, Rebecca (2013)moulden, Annie & Cooper, Simonmouledoux, Cathleen & Renemountford, Georgina & Peternadinic, Juli & Franknewman, Elisabeth & Iannicholson, Sandra & Corbett, Philnorthrop, Caroline & Rohano’donohue, Sarah & Peterowen, Gail & Nash QC, GerryPark, Kitty (Farquharson, 1990) & DeanParsons, Debra & SimonPatterson, Nicole & StuartPayne, Min & PeterPhilip, Kate (1976)Phillips, Nicole & Rich, MichaelPike, Isobel & JohnQian, Yongbi & Zhou, Xiong FengRalph, Kirsty & AndrewRalph, GlendaRao, Vinni & VijayRead, Kelly & StuartReid, Sue & MervyllRex, Elizabeth & RobertRiddell, Jane (McArthur, 1974) & Graeme†Ringersma, Margaret & JelkeRoberts, Eileen & HughRoberts, Susie & DavidRobinson, Caroline (Fair, 1979) & GregoryRodgers-Wilson, Susie & PeterRosen, Cynthia (1964)Rowland, Fiona & Smith, JamesRowley, Deb & DannyRozenes, Barbara & MichaelRussell, Amanda

Russell, Sharon & Davidsalvaris, Anne & Johnsantucci, Carmela & Alvaroschiller, Lisa & Michaelschirrman, Janet & Adriansearby, Jocelynshand, Judith & Petershao, Jing & Gong, Pingshao, May & Wang, Jianmingshepherd, Loretta & Ianshi, Linda & Xu, Timsiebert, Tina & Marksim, Shauna (2007)sinclair, Pamela & Rogersmallwood, Carol & Richardsmibert, Wendy (1963)smith, Alicia (Brown, 1992) & Andrewsmith, Deanne & Colinsmith, Mssomerton, Michellestahle, Deborah & Peterstamoulis, Helen & Johnstark, Janet & Richardstebbens, Pat & Tobystevens, Nasu & Stevenstewart, Lucystockwin, Kate & Bennett, Michaelstuckey, Sue & Johnstump, Alison & Nicksummons, Beverly† (Gill, 1948) & Johnszakiel, Elizabeth & CharlesTan, Julia & Yeuong, AnthonyTang, Amy & TrevorTarrant, DeborahTaylor, Pamela & RoyTaylor, Sandra & IanTee, Jessie & Manikhode, TonyThomas, Ruth & RobTilbrook, Jenny & JohnTiller, JohnTodhunter, Helen† & TimTolley, Anita & RichardTravers, Alexandra & Richard

Trieu, My & Chau, Van ChiTrinca, Catherine (Hill, 1971) & PhilipTroedel, Prue & BillTronson, ElizabethTrotter, Sophie & MikeTsaconas, Kanella & CostaTyrwhitt, DavidVoon, ElizabethWalker, Carolyn & JimWalker, Rosemary & Batten, JohnWallis, Sally (Mason, 1963) & AdrianWang, Maggie & DavidWarburton, Ros & Laing, MikeWatkins, Alison & RodWatt, June (1943)Wei, Dong & Cui, FrankWei, Jane & Hu, GeorgeWeragoda, Wing Huat & JohannWhitehouse, Robyn & LenWhiting, PamelaWillcox, Suzanne & PeterWillox, InnesWills, Antonia & StuartWills, Robyn & DavidWilson, Jane & JohnWilton, IanWipfli, Christine & JohnYang, Jun & Zong LiYao, Grace & Kuang, HuaweiYeomans, Nancy & GraemeYeung, Clara & AlexZeidler, David†Zhang, Wendy & Chen, Douglas



Corporate Governance Statement

The Lauriston Foundation Inc (Foundation) is committed to the principle of best practice in corporate governance. The purpose of this statement is to outline the Foundation Board’s approach to corporate governance as well as some key policies and practices.

Governing DocumentsThe Foundation was established on 2 January 1985 as an incorporated association and operates in accordance with the Associations Incorporation Reform Act 2012 and its Statement of Rules which outlines the rules and principles which govern the Foundation. A new Statement of Rules was adopted by members at the AGM on 29 May 2015, amended at the AGM on 11 May 2016 and further amended at the AGM on 22 May 2019. A copy can be found on the website.

Stated PurposeThe Foundation is an independent entity established for charitable purposes, specifically to provide financial and related support to help advance the School and to assist the School Council to preserve, develop and improve the standards, facilities and well-being of the School. A primary function of the Foundation is to act as trustee and manager of a number of Approved Funds which have been established for the benefit of the School.

Approved FundsThe Foundation acts as trustee and manages the following funds:

i) The lauriston foundation education fund ABN 36 613 524 027 – established on 1 January 1985; registered with the ACNC on 3 December 2012; not DGR endorsed; purpose is to accumulate and build a corpus of funds from which income can be derived to support educational activities at the School.

Separate governing charters are established where donations are received with specific instructions regarding how the funds are to be managed.

ii) The lauriston foundation Building fund ABN 62 856 028 429 – established on 1 January 1985; registered with the ACNC on 3 December 2012; DGR endorsed on 1 July 2000; purpose is to apply funds exclusively to the acquisition, construction of maintenance of a building or buildings used by the School for educational purposes.

iii) The lauriston foundation library fund ABN 20 434 680 513 – established on 1 January 1985; registered with the ACNC on 3 December 2012; DGR endorsed on 1 July 2000; purpose is to apply funds exclusively to the acquisition and/or procurement of library resources for the School for educational purposes.

iv) The lauriston foundation scholarship fund ABN 95 471 816 595 – established on 1 January 2007; registered with the ACNC on 3 December 2012; DGR endorsed on 1 May 2007; purpose is exclusively for the advancement of education, by providing scholarships, bursaries, or prizes which satisfy the criteria listed in section 30-37 of the Income Tax Act. Separate governing charters are established for each scholarship or bursary and the funds are accounted for as sub-funds.

These funds are managed in accordance with the deeds of trust for each Approved Fund, DGR rules (if applicable) and in accordance with any specific requirements established by donors of major gifts.

The BoardThe Board of the Foundation represents and serves the interests of donors and members and its sole purpose is to further the purposes of the Foundation and to uphold good corporate governance. The Board is comprised of a majority of Appointed Board Members and a number of other ex-officio Board members who together have a mix of skills to provide the necessary breadth, depth of knowledge and experience to meet the Board’s responsibilities and objectives set out in the Statement of Rules. The Board has the power to do all things necessary to control, manage and conduct the affairs of the Foundation in accordance with the Statement of Rules.

The Board is comprised of 5-8 independent Appointed Board Members plus 4 other Board members comprising the Chair of School Council (ex-officio position), the Principal (ex-officio position), the President of the OLA (ex-officio position) or an OLA nominee appointed by the Board, and the President of the LPA (ex-officio position) or a LPA nominee appointed by the Board. All Board Members must be Members of the Foundation and over 18 years of age. The Chair must be an Appointed Board Member. Appointed Board Members have an initial term of 3 years and maybe reappointed for a further term subject to the approval of members at the AGM. The Rules require that all Board members be subject to a term limit of 10 years, although the Board has the power to extend the term limit in certain circumstances. The term limit was extended for Vicki Redwood on 22 May 2019.


Board CommitteesThe Board has established a number of Board Committees – each established in accordance with an approved Charter to help the Board deliver on its responsibilities, including.

i) Rules Committee - established in 2014 for the purpose of advising the Foundation Board in relation to the Statement of Rules and in particular any changes that be considered and recommended from time to time. The Rules Committee is comprised of the Chair of the Foundation (who shall act as Chair of the Committee), the Treasurer of the Foundation and the Chair of the School Council. Membership is currently John Morrison (Chair), Angus Graham OAM and Rick Ball.

ii) Bequest Committee - established in 2014 in order to assist the Foundation Board oversee the Elizabeth Kirkhope Circle (EKC) bequest program which commenced in 2011. The Bequest Committee is comprised of an Honorary Chair of the EKC, up to two Honorary Vice

Chairs of the EKC, a nominee of the Foundation Board, the School Principal, the School Bequests Officer and the Director of Advancement. Alix Bradfield is the Chair of the Bequest Committee.

iii) investment Committee - established in 2017 in order to assist the Board to oversee the investment funds held by the Foundation. Its responsibilities include making recommendations in relation to investment policy, investment strategy and reporting. Membership is currently Sam Hunt (Chair), Angus Graham OAM, John Morrison and Andrew Smith (external member, appointed 31 July 2017).

iv) Capital Campaign Committee - established in 2017 in order to assist the Board oversee a capital campaign. Its responsibilities include the making of recommendations in relation to any capital campaign initiatives. Membership is currently Elli Walker and Julia Rockman (Co-Chairs of this committee, appointed November 2017), Georgie Bruce,

Anna Wilson, Tom O’Brien, Moran Dvir (retired August 2019) Marina Johnson and Zafreen Khan.

All Committee members are required to be Members of the Foundation and must be approved by the Foundation Board.


Special Purpose Financial ReportfoR The YeAR ended 31 deCemBeR 2019

RegisTeRed no. A0003450l ABn 93 250 982 468

THE LAURISTON FOUNDATION INC – ANNUAL REPORT 201928

Note 11 provides detail for each of Building, Education, Library and Scholarship Funds.

The accompanying notes form part of the Financial Statements.

Combined Statement of Profit or Loss & Other Comprehensive Income

for the year ended 31 December 2019The Lauriston Foundation (Inc.) Combined Statement of Profit or Loss & Other Comprehensive

Income for the year ended 31 December 2019

Page|3

2019 2018Total Total

$ $IncomePledges, donations and bequests 710,996 613,842Interest 39,639 46,267Dividends and distributions 158,272 261,408Net movement in fair value of Investments 377,807 -

Total income 1,286,714 921,517

Operating Expenses Audit fees (6,150) (8,204)Printing and postage (8,822) (10,487)Investment management fees (20,412) (22,556)Net movement in fair value of Investments - (171,476)Net realised loss on investments (34,943) (76,631)

Total operating expenses (70,327) (289,354)

Net surplus before distributions 1,216,387 632,163

Less Distributions

Operating distributions to the School (33,200) (28,288)Capital distributions to the School - (12,000)

Total operating and capital distributions (33,200) (40,288)

Net surplus for year after distributions 1,183,187 591,875

Note 11 provides detail for each of Building, Education, Library and Scholarship Funds. The accompanying notes form part of the Financial Statements.

THE LAURISTON FOUNDATION INC – ANNUAL REPORT 2019 29

The Lauriston Foundation (Inc.) Combined Statement of Financial Position

as at 31 December 2019

Page|4

2019 2018Total Total

$ $Notes

Equity

Accumulated funds 9, 10,11 5,682,559 4,499,372

Total Equity 5,682,559 4,499,372

Represented by:

Current Assets

Cash at bank 3 & 7a 314,478 1,199,281 Term deposits 3 & 8 2,110,000 910,000 Receivables 25,957 58,584 Other financial assets at fair value through profit or loss 3,245,213 2,383,229

5,695,648 4,551,094

Total Assets 5,695,648 4,551,094

LessCurrent Liabilities

Creditors 13,089 51,722

13,089 51,722

Net Assets 5,682,559 4,499,372 Note 12 provides detail for each of Building, Education, Library and Scholarship Funds. The accompanying notes form part of the Financial Statements.




Combined Statement of Financial Position as at 31 December 2019


The Lauriston Foundation (Inc.) Combined Statement of Changes in Equity

for the year ended 31 December 2019

Page|5

Accumulated Funds

$

Balance at 1 January 2018 3,907,497

Surplus for the year 591,875

Total comprehensive surplus 591,875

Balance at 31 December 2018 4,499,372

Surplus for the year 1,183,187

Total comprehensive surplus 1,183,187

Balance at 31 December 2019 5,682,559



Combined Statement of Changes in Equityfor the year ended 31 December 2019



The Lauriston Foundation (Inc.) Combined Statement of Cashflow


Page|6

Note2019 Total

2018 Total

$ $

Cash Flows from Operating Activities

Receipts from customers 709,806 633,142

Payments to suppliers (74,017) (31,950)

Interest and dividends received 231,728 273,016

Operating distributions to the School (33,200) -

Net cash provided by operating activities 7(b) 834,317 874,208

Cash Flows from Investing Activities

Net transfers to term deposits 527,075 847,164

Net purchases of investments (2,246,195) (981,473)

Net cash used in investing activities (1,719,120) (134,309)

Net (decrease) / increase in cash held (884,803) 739,899

Cash and Cash Equivalents at the Beginning of the Financial Year 1,199,281 459,382

Cash and Cash Equivalents at the End of the Financial Year 7(a) 314,478 1,199,281

Note 13 provides detail for each of Building, Education, Library and Scholarship Funds. The accompanying notes form part of the Financial Statements.


Combined Statement of Cashflowfor the year ended 31 December 2019

1. Summary of Accounting PoliciesThe Lauriston Foundation (Inc.) is not a reporting entity because, in the Board’s opinion, there are unlikely to exist users of the financial statements who are dependent on general purpose financial reports of The Lauriston Foundation (Inc.) for information. These financial statements are therefore a “Special Purpose Financial Report”. They have been drawn up so as to comply with the requirements of the Rules of The Lauriston Foundation (Inc.) and the Associations Incorporation Reform Act 2012, so as to provide information required by the Board and for the benefit of Members.

Statement of ComplianceThe financial statements have been prepared in accordance with the requirements of Rule 11.1 of The Lauriston Foundation (Inc.), Part 7 of the Associations Incorporation Reform Act 2012 and the basis of accounting specified by all Accounting Standards and the disclosure requirements of Accounting Standards AASB 101, “Presentation of Financial Statements”, AASB 107, “Cashflow Statements” and AASB 108 “Accounting Policies, changes in Accounting Estimates and Errors”, AASB 1048 “Interpretation of Standards” and AABB 1054 “Australian Additional Disclosures”.

For the purpose of this report, the entity is a not for profit entity. The financial report was authorised for issue by the Board on 13 May 2020.

Adoption of New and Revised Accounting Standards

1.1 Amendments to Australian Accounting Standards Board and Interpretations that are mandatorily effective for the current yearThe Foundation has adopted all of the new and revised Standards and Interpretations issued by the Australian Accounting Standards Board (the AASB) that are relevant to its operations and effective for an accounting period that begins on or after 1 January 2019.

New and revised Standards and amendments thereof and Interpretations effective for the current year that are relevant to the entity include:

AASB 1058 Income of Not-for-Profit Entities and AASB 15 Revenue from Contracts with Customers In the current year, the Foundation has applied AASB 1058 Income of Not-for-Profit Entities and AASB 15 Revenue from Contracts with Customers which are effective for an annual period that begin on or after 1 January 2019.

The Foundation has applied AASB 1058 and AASB 15 in accordance with the modified retrospective (cumulative catch up) method where the comparative figures are not restated. Instead, the Foundation has recognised the cumulative effect of initially applying AASB 1058 and AASB 15 for the first time for the year ending 31 December 2019 against retained earnings as at 1 January 2019. The Foundation has also elected to apply AASB 1058 and AASB 15 retrospectively only to contracts and transactions that are not ‘completed contracts’ as at 1 January 2019.

AASB 1058 clarifies and simplifies the income recognition requirements that apply to not-for-profit (NFP) entities, in conjunction with AASB 15. The new income recognition requirements shift the focus from a reciprocal/non-reciprocal basis to a basis of assessment that considers the enforceability of a contract and the specificity of performance obligations.

The core principle of the new income recognition requirements in AASB 1058 is when a NFP entity enters into transactions where the consideration to acquire an asset is significantly less than the fair value of the asset principally to enable the entity to further its objectives, the excess of the asset recognised (at fair value) over any ‘related amounts’ is recognised as income immediately.

An example of a ‘related amount’ is AASB 15 and in cases where there is an ‘enforceable’ contact with a customer with ‘sufficiently specific’ performance obligations, income is recognised when (or as) the performance obligations are satisfied under AASB 15, as opposed to immediate income recognition under AASB 1058.

Under AASB 15, an entity recognises revenue when (or as) a performance obligation is satisfied, i.e. when ‘control’ of the goods or services underlying the particular performance obligation is transferred to the customer. AASB 15 introduces a 5-step approach to revenue recognition, which is more prescriptive than AASB 118.

– Step 1: Identify the contract(s) with a customer.

– Step 2: Identify the performance obligations in the contract.

– Step 3: Determine the transaction price.

– Step 4: Allocate the transaction price to the performance obligations in the contract.

– Step 5: Recognise revenue when (or as) the entity satisfies a performance obligation.

Under AASB 15, an entity recognises revenue when (or as) a performance obligation is satisfied, i.e. when “control” of the goods or services underlying the particular performance obligation is transferred to the customer.

The Foundation’s current practice for the recognition of revenue is an appropriate method under the new standard. Therefore, the new standard has had no material impact on the Foundation’s financial position and performance.


Notes to the Financial Statementsfor the year ended 31 December 2019

1.2 New and Revised Australian Accounting Standards in issue but not yet effectiveAt the date of authorisation of the financial statements, the Company has not applied the following new and revised Australian Accounting Standards, Interpretations and amendments that have been issued but are not yet effective:

Standard/amendment Effective for annual reporting periods beginning on or after

AASB 2019-4 Amendments to Australian Accounting Standards – Disclosure in Special Purpose Financial Statements of Not-for-Profit Private Sector Entities on Compliance with Recognition and Measurement Requirements

1 January 2020

The Foundation does not expect any material impact with the application of the new standards.

2. Composition of the FoundationThe Foundation was incorporated on 2 January 1985 under the provisions of the Association Incorporation Act 1981 (Victoria) under the registration number 00034350L and comprises the following funds.

Building Fund - ABN 62 856 028 429Donations to the Building Fund are tax deductible. This fund was established in 1985. Donations to this fund are intended to provide support to the School’s Building Development Program.

Education Fund - ABN 36 613 524 027Donations to the Education Fund are not tax deductible. This fund was established in 1985. The aim of the Fund is to accumulate capital, the income from which can be used for educational purposes.

Library Fund - ABN 20 434 680 513Donations to the Library Fund are tax deductible. This fund was established in 1985. Donations may only be used for equipment, books, and other resources directly for use in the Library.

Scholarship Fund - ABN 95 471 816 595Donations to the Scholarship Fund are tax deductible. This fund was established in 2007 and is intended to accumulate capital from which the income generated can be used to provide scholarships and bursaries.

The combined financial statements represent the aggregation of these funds. No elimination entries are necessary.

3. Investments Investments of the Foundation consist of cash at bank, term deposits, listed and other securities.



4. Other Financial Assets

Financial Instruments – financial assets and liabilities

ClassificationThe Foundation engages JB Were Limited (AFSL 341162) to provide investment advisory services for the Education and Scholarship Funds’ investment portfolio for a fee. The Foundation manages its investment portfolio and classifies its entire portfolio as financial assets at fair value through profit and loss.

Financial assets at fair value through profit or loss comprised principally of marketable equity securities and unlisted managed funds are included in current assets.

MeasurementAt initial recognition, the Foundation measures a financial asset at its fair value and subsequent changes in fair value are recognised directly in profit or loss.

DividendsDividends on equity instruments are recognised as income in profit or loss where the Entity’s right to receive the dividends is established.

Loans and receivablesTrade receivables, loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method less any impairment.

Effective interest methodThe effective interest method is a method of calculating the amortised cost of a financial asset and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset, or, where appropriate, a shorter period. Income is recognised on an effective interest basis for debt instruments other than those at fair value through profit or loss.

Financial liabilitiesNon-derivative financial liabilities, including loans and borrowings, are recognised at amortised cost, comprising original debt less principal repayments and amortisation. The Foundation does not hold liabilities for trading.

Fair value estimationThe fair value of financial assets traded in active markets (such as publicly traded securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Foundation is the current bid price. The fair value of managed funds is based on the unit price of each fund as reported by the funds at balance sheet date.

Derecognition of financial assetsThe Foundation recognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity.

5. Pledges and Donations

Pledges and donations are brought to account by the Foundation on a cash received basis. All other income is recognised on an accruals basis.

The total donations received by the Lauriston Foundation during 2019 include pledges and donations to the capital campaign as well as donations made periodically throughout the year. Annual Appeal donations relate specifically to donations received as a result of the “Gift of Opportunity” appeal which was conducted in May and June 2019 to support needs based scholarships, infrastructure and library resources.

The Lauriston Foundation (Inc.) Notes to the Financial Statements


Page|12

5. Pledges and Donations

Building Education Library Scholarship TotalFund Fund Fund Fund

$ $ $ $ $Pledges and donations 475,963 1,505 20,000 105,923 603,391Annual appeal 43,450 4,000 11,035 49,120 107,605

Total donations 519,413 5,505 31,035 155,043 710,996

2019

Pledges and donations are brought to account by the Foundation on a cash received basis. All other income is recognised on an accruals basis. The total donations received by the Lauriston Foundation during 2019 include pledges and donations to the capital campaign as well as donations made periodically throughout the year. Annual Appeal donations relate specifically to donations received as a result of the "Gift of Opportunity" appeal which was conducted in May and June 2019 to support needs based scholarships, infrastructure and library resources.



6. Income and Expenditure and Movement in Accumulated Funds since the Inception of the Foundation in 1985



Page|13


Building

FundEducation

FundLibrary

FundScholarship

FundTotal

$ $ $ $ $IncomePledges and donations 4,539,543 486,915 99,831 1,390,005 6,516,294Annual appeal 793,733 57,149 206,459 441,507 1,498,848Interest 310,401 1,649,307 58,529 144,860 2,163,097Dividends and distributions - 1,642,467 - 192,763 1,835,230Realised gain - 1,123,397 - 22,441 1,145,838Net increase in Fair value of Investments * - 310,477 - 141,169 451,646Lauriston Parents' Association 542,000 - - - 542,000School donation - Outreach - 50,000 - - 50,000OLA donation - Outreach - 50,000 - - 50,000Bequests 13,000 3,552,881 - - 3,565,881Annual dinner 106,580 100,491 - - 207,071School contribution - 411,965 - - 411,965Fund raising 242,544 22,018 - - 264,562Rental income - 1,257,120 - - 1,257,120

6,547,801 10,714,187 364,819 2,332,745 19,959,552Less:

Operational expenses ( including net realised loss on investments / net reduction in fair value of Investments *)

(515,489) (2,406,268) (25,249) (196,505) (3,143,511)

NET SURPLUS BEFORE DISTRIBUTIONS 6,032,312 8,307,919 339,570 2,136,240 16,816,041

Plus:

Transfer from School (Scholarship funds pre 1999) - 209,849 - - 209,849

Less:Operating contributions to School - (1,734,876) (142,099) (105,567) (1,982,542)Capital distributions to School (4,962,241) (723,800) (196,989) - (5,883,030)Transfer of property to School - (3,479,521) - - (3,479,521)Transfer to / (from) asset revaluation reserve to accumlated surplus

- 6,690 - (4,928) 1,762

*The net movements in Fair Value of Investments and net realised loss in investments figures are reported from 2017 only.

The purpose of note 6 is to provide a historical financial perspective of the Foundation’s operations since inception. Each year Income and Expenditure for the current year is added to the prior year’s figures. Accordingly, income and expenditure figures contained in note 6 represent a cumulative total since inception and therefore do not reconcile to the current year’s income and expenditure figures. The balance of Accumulated Funds in note 6 reconciles with the Statement of Financial Position and the Statement of Changes in Equity for the year ended 31 December 2019.

NET SURPLUS AFTER DISTRIBUTIONS 1,070,071 2,586,261 482 2,025,745 5,682,559



Page|13


Building

FundEducation

FundLibrary

FundScholarship

FundTotal


6,547,801 10,714,187 364,819 2,332,745 19,959,552Less:


(515,489) (2,406,268) (25,249) (196,505) (3,143,511)


Plus:



- 6,690 - (4,928) 1,762






Page|13


Building

FundEducation

FundLibrary

FundScholarship

FundTotal


6,547,801 10,714,187 364,819 2,332,745 19,959,552Less:


(515,489) (2,406,268) (25,249) (196,505) (3,143,511)


Plus:



- 6,690 - (4,928) 1,762






Page|13


Building

FundEducation

FundLibrary

FundScholarship

FundTotal


6,547,801 10,714,187 364,819 2,332,745 19,959,552Less:


(515,489) (2,406,268) (25,249) (196,505) (3,143,511)


Plus:



- 6,690 - (4,928) 1,762






7. Notes to the Statement of Cash FlowsFor the purpose of the statement of cash flows, cash includes cash on hand and in banks and investments in money market instruments, net of outstanding bank overdrafts. Cash at the end of the financial year as shown in the statement of cash flows is reconciled to the related items in the Statement of Financial Position as follows:

8. Term deposits



Page|14

7. Notes to the Statement of Cash Flows For the purpose of the statement of cash flows, cash includes cash on hand and in banks and investments in money market instruments, net of outstanding bank overdrafts. Cash at the end of the financial year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows:

2019 2018$ $

7(a) Reconciliation of Cash and Cash Equivalents

Cash at bank

Building Fund 117,217 446,802

Education Fund 155,395 334,376

Library Fund 482 12,651

Scholarship Fund 41,384 405,452

Total cash at bank 314,478 1,199,281

7(b) Reconciliation of surplus for the year to Net Cash Flows from Operating Activities 2019 2018

$ $

Operating surplus after distributions to School 1,183,187 591,875

Non cash unrealised (increase) / decrease on investments (328,862) 171,476

Non cash realised (increase) / decrease on investments (14,002) 76,631

Decrease / (Increase) in assets: Current receivables and prepayments 32,627 (15,148)

(Decrease) / Increase in liabilities:

Creditors (38,633) 49,374

Net Cash provided by operating activities 834,317 874,208

8. Term deposits

2019 2018$ $




Total Term Deposits 2,110,000 910,000



Page|14

7. Notes to the Statement of Cash Flows For the purpose of the statement of cash flows, cash includes cash on hand and in banks and investments in money market instruments, net of outstanding bank overdrafts. Cash at the end of the financial year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows:

2019 2018$ $

7(a) Reconciliation of Cash and Cash Equivalents

Cash at bank



Library Fund 482 12,651


Total cash at bank 314,478 1,199,281

7(b) Reconciliation of surplus for the year to Net Cash Flows from Operating Activities 2019 2018

$ $

Operating surplus after distributions to School 1,183,187 591,875

Non cash unrealised (increase) / decrease on investments (328,862) 171,476

Non cash realised (increase) / decrease on investments (14,002) 76,631

Decrease / (Increase) in assets: Current receivables and prepayments 32,627 (15,148)

(Decrease) / Increase in liabilities:

Creditors (38,633) 49,374

Net Cash provided by operating activities 834,317 874,208

8. Term deposits

2019 2018$ $




Total Term Deposits 2,110,000 910,000



9. Education Fund

The Education Fund equity is currently made up of three sub-funds; The General Education Fund, the Diana Robertson Scholarship Fund and the Donations for Equipment fund. The Diana Robertson Scholarship was established in 1992 and is awarded each year to one Year 10 student who excels in the subject of History.

From 2017 onwards, an amount of $1,600 (prior years the amount was $1,200) is paid each year towards the Scholarship recipient’s School fees for Years 11 and 12, subject to the recipient continuing to study History. Donations for Equipment, represents a specific donation received during the course of the year to be used at the Principal’s discretion.



Page|15

9. Education Fund

Balance 31 December

2018

Donations Net Investment gain / (loss)

realised [incl. interest,

dividends & distributions]

Net Investment gain / (loss) unrealised

Expenses Distributions Paid

Balance 31 December

2019

$ $ $ $ $ $ $

Education FundGeneral Education Fund 2,084,829 5,505 126,000 202,991 (15,767) - 2,403,558Diana Robertson Scholarship 161,364 - 9,751 15,709 (1,221) (3,200) 182,403Donations for Equipment 300 - - - - - 300

Total Education Fund 2,246,493 5,505 135,751 218,700 (16,988) (3,200) 2,586,261 The Education Fund equity is currently made up of three sub-funds; The General Education Fund, the Diana Robertson Scholarship Fund and the Donations for Equipment fund. The Diana Robertson Scholarship was established in 1992 and is awarded each year to one Year 10 student who excels in the subject of History. From 2017 onwards, an amount of $1,600 (prior years the amount was $1,200) is paid each year towards the Scholarship recipient’s School fees for Years 11 and 12, subject to the recipient continuing to study History. Donations for Equipment, represents a specific donation received during the course of the year to be used at the Principal’s discretion.



Page|15

9. Education Fund

Balance 31 December

2018






Balance 31 December

2019

$ $ $ $ $ $ $

Education FundGeneral Education Fund 2,084,829 5,505 126,000 202,991 (15,767) - 2,403,558Diana Robertson Scholarship 161,364 - 9,751 15,709 (1,221) (3,200) 182,403Donations for Equipment 300 - - - - - 300

Total Education Fund 2,246,493 5,505 135,751 218,700 (16,988) (3,200) 2,586,261 The Education Fund equity is currently made up of three sub-funds; The General Education Fund, the Diana Robertson Scholarship Fund and the Donations for Equipment fund. The Diana Robertson Scholarship was established in 1992 and is awarded each year to one Year 10 student who excels in the subject of History. From 2017 onwards, an amount of $1,600 (prior years the amount was $1,200) is paid each year towards the Scholarship recipient’s School fees for Years 11 and 12, subject to the recipient continuing to study History. Donations for Equipment, represents a specific donation received during the course of the year to be used at the Principal’s discretion.



10. Scholarship Fund

The Scholarship Fund is currently made up of four sub-funds; the Foundation Scholarship, the Foundation Creative & Performing Arts Scholarship, the Belinda Phillips Goldman Sachs Memorial Scholarship, the Sun Foundation Educational Bursary. The Belinda Phillips Goldman Sachs Memorial Scholarship is offered to students who excel in Sport and is offered every two years. The Sun Foundation Educational Bursary is offered on an annual basis and is awarded to a member of the Lauriston teaching staff to support their educational advancement.

Belinda Phillips Goldman Sachs Scholarship Fund The corpus of the Belinda Phillips Goldman Sachs Scholarship Fund (Phillips Fund Corpus) is to represent the contributed capital of the Fund, indexed for inflation (by reference to the Australian Bureau of Statistics data series – All Groups CPI, Australia). The cash value of the Phillips Fund Corpus is to be maintained as part of the Scholarship Fund and cannot be distributed. Only cash funds in excess of the Phillips Fund Corpus, can be distributed for the Belinda Phillips Goldman Sachs Scholarship. As at 31 December 2019, by reference

to the Australian Bureau of Statistics data series – All Groups CPI, Australia, the minimum amount that had to be maintained in the Phillips Fund Corpus was $271,333. The accrued value of the corpus as at 31 December 2019 was $298,017.



Page|16

10. Scholarship Fund

Balance

31 December 2018






Balance 31 December

2019

$ $ $ $ $ $ $

Scholarship FundFoundation Scholarship 1,270,457 104,343 53,290 82,075 (12,068) - 1,498,097Foundation Creative & Performing Arts Scholarship 125,843 50,700 5,279 8,130 (1,195) - 188,757The Sun Foundation Educational Bursary 37,260 - 1,563 2,406 (355) - 40,874

The Belinda Phillips Goldman Sachs Memorial Scholarship 271,652-

11,395 17,550 (2,580)-

298,017

Total Scholarship Fund 1,705,212 155,043 71,527 110,161 (16,198) - 2,025,745 The Scholarship Fund is currently made up of four sub-funds; the Foundation Scholarship, the Foundation Creative & Performing Arts Scholarship, the Belinda Phillips Goldman Sachs Memorial Scholarship, the Sun Foundation Educational Bursary. The Belinda Phillips Goldman Sachs Memorial Scholarship is offered to students who excel in Sport and is offered every two years. The Sun Foundation Educational Bursary is offered on an annual basis and is awarded to a member of the Lauriston teaching staff to support their educational advancement. Belinda Phillips Goldman Sachs Scholarship Fund

The corpus of the Belinda Phillips Goldman Sachs Scholarship Fund (Phillips Fund Corpus) is to represent the contributed capital of the Fund, indexed for inflation (by reference to the Australian Bureau of Statistics data series – All Groups CPI, Australia). The cash value of the Phillips Fund Corpus is to be maintained as part of the Scholarship Fund and cannot be distributed. Only cash funds in excess of the Phillips Fund Corpus, can be distributed for the Belinda Phillips Goldman Sachs Scholarship. As at 31 December 2019, by reference to the Australian Bureau of Statistics data series – All Groups CPI, Australia, the minimum amount that had to be maintained in the Phillips Fund Corpus was $271,333. The accrued value of the corpus as at 31 December 2019 was $298,017.



11. Statement of Profit or Loss and Other Comprehensive Income by Fund



Page|17

11. Statement of Profit or Loss and Other Comprehensive Income by Fund

Building Education Library Scholarship Total Building Education Library Scholarship TotalFund Fund Fund Fund Fund Fund Fund Fund

$ $ $ $ $ $ $ $ $ $IncomePledges, donations and bequests 475,963 1,505 20,000 105,923 603,391 399,149 - 35 125,708 524,892Annual appeal 43,450 4,000 11,035 49,120 107,605 39,080 300 12,550 37,020 88,950Interest 4,636 19,594 - 15,409 39,639 2,680 22,582 - 21,005 46,267Dividends and distributions - 105,267 - 53,005 158,272 - 172,731 - 88,677 261,408Net gain on investments - 35,085 - 13,860 48,945 - - - - - Net movement in fair value of Investments

- 218,700 - 110,162 328,862 - - - - -

Total income 524,049 384,151 31,035 347,479 1,286,714 440,909 195,613 12,585 272,410 921,517

Operating Expenses Audit fees - (3,075) - (3,075) (6,150) - (4,102) - (4,102) (8,204)Printing and postage (994) (436) (1,204) (6,188) (8,822) (8,120) - (237) (2,130) (10,487)Investment management fees - (13,477) - (6,935) (20,412) - (15,506) - (7,050) (22,556)Net movement in fair value of Investments

- - - - - - (118,780) - (52,696) (171,476)

Net realised loss on investments - (24,195) - (10,748) (34,943) - (46,442) - (30,189) (76,631)

Total operating expenses (994) (41,183) (1,204) (26,946) (70,327) (8,120) (184,830) (237) (96,167) (289,354)

Net surplus before distributions 523,055 342,968 29,831 320,533 1,216,387 432,789 10,783 12,348 176,243 632,163

Less DistributionsOperating distributions to the School - (3,200) (30,000) - (33,200) - (1,600) - (26,688) (28,288)Capital distributions to the School - - - - - - - (12,000) - (12,000)

Total operating and capital distributions - (3,200) (30,000) - (33,200) - (1,600) (12,000) (26,688) (40,288)

Net surplus / (loss) for year after distributions 523,055 339,768 (169) 320,533 1,183,187 432,789 9,183 348 149,555 591,875

2019 2018



12. Statement of Financial Position by Fund



Page|18

12. Statement of Financial Position by Fund

Building Fund Education Fund

Library Fund

Scholarship Fund

Total Building Fund

Education Fund

Library Fund

Scholarship Fund

Total

$ $ $ $ $ $ $ $ $ $EquityAccumulated funds 1,070,071 2,586,261 482 2,025,745 5,682,559 547,016 2,246,493 651 1,705,212 4,499,372

Total Equity 1,070,071 2,586,261 482 2,025,745 5,682,559 547,016 2,246,493 651 1,705,212 4,499,372

Represented by:

Current Assets

Cash at bank 117,217 155,395 482 41,384 314,478 446,802 334,376 12,651 405,452 1,199,281Term deposits 950,000 350,000 - 810,000 2,110,000 100,000 300,000 - 510,000 910,000Receivables 2,854 13,468 - 9,635 25,957 214 36,473 - 21,897 58,584Other financial assets - 2,074,910 - 1,170,303 3,245,213 - 1,583,889 - 799,340 2,383,229

1,070,071 2,593,773 482 2,031,322 5,695,648 547,016 2,254,738 12,651 1,736,689 4,551,094

Total Assets 1,070,071 2,593,773 482 2,031,322 5,695,648 547,016 2,254,738 12,651 1,736,689 4,551,094

Less Current LiabilitiesCreditors - 7,512 - 5,577 13,089 - 8,245 12,000 31,477 51,722

- 7,512 - 5,577 13,089 - 8,245 12,000 31,477 51,722

Net Assets 1,070,071 2,586,261 482 2,025,745 5,682,559 547,016 2,246,493 651 1,705,212 4,499,372

2019 2018



13. Statement of Cash Flow by Fund

14. Subsequent eventsThe current situation with regards to COVID-19 is emerging and therefore there are challenges in assessing its impact to financial markets. Notwithstanding this, the entity’s investments, have experienced an increase in volatility in the period subsequent to year end.

Other than the above there has not been any matter or circumstance occurring subsequent to the end of the year that has significantly affected, or may significantly affect, the operations of The Lauriston Foundation, the results of those operations or the state of affairs of the entity in future financial years.



Page|19



Library Fund

Scholarship Fund

Total Building Fund

Education Fund

Library Fund

Scholarship Fund

Total

$ $ $ $ $ $ $ $ $ $


Receipts from customers 519,413 4,822 31,035 154,536 709,806 438,229 300 12,585 182,028 633,142Payments to suppliers (995) (17,720) (13,204) (42,098) (74,017) (8,120) (14,032) (237) (9,561) (31,950)Interest and dividends received 1,997 148,547 - 81,184 231,728 3,239 174,195 - 95,582 273,016Operating distributions to the School - (3,200) (30,000) - (33,200) - - - - - Capital distributions to the School - - - - - - - - - -

Net cash provided by / (used in) operating activities 520,415 132,449 (12,169) 193,622 834,317 433,348 160,463 12,348 268,049 874,208


Net transfers to term deposits - 361,728 - 165,347 527,075 668 559,794 - 286,702 847,164Net purchases of investments (850,000) (673,158) - (723,037) (2,246,195) - (632,440) - (349,033) (981,473)

Net cash used in investing activities (850,000) (311,430) - (557,690) (1,719,120) 668 (72,646) - (62,331) (134,309)

Net (decrease) / increase in Cash Held (329,585) (178,981) (12,169) (364,068) (884,803) 434,016 87,817 12,348 205,718 739,899

Cash and Cash Equivalents at the Beginning of the Financial Year 446,802 334,376 12,651 405,452 1,199,281 12,786 246,559 303 199,734 459,382

Cash and Cash Equivalents at the End of the Financial Year 117,217 155,395 482 41,384 314,478 446,802 334,376 12,651 405,452 1,199,281

20182019



Page|19



Library Fund

Scholarship Fund

Total Building Fund

Education Fund

Library Fund

Scholarship Fund

Total

$ $ $ $ $ $ $ $ $ $


Receipts from customers 519,413 4,822 31,035 154,536 709,806 438,229 300 12,585 182,028 633,142Payments to suppliers (995) (17,720) (13,204) (42,098) (74,017) (8,120) (14,032) (237) (9,561) (31,950)Interest and dividends received 1,997 148,547 - 81,184 231,728 3,239 174,195 - 95,582 273,016Operating distributions to the School - (3,200) (30,000) - (33,200) - - - - - Capital distributions to the School - - - - - - - - - -

Net cash provided by / (used in) operating activities 520,415 132,449 (12,169) 193,622 834,317 433,348 160,463 12,348 268,049 874,208


Net transfers to term deposits - 361,728 - 165,347 527,075 668 559,794 - 286,702 847,164Net purchases of investments (850,000) (673,158) - (723,037) (2,246,195) - (632,440) - (349,033) (981,473)

Net cash used in investing activities (850,000) (311,430) - (557,690) (1,719,120) 668 (72,646) - (62,331) (134,309)

Net (decrease) / increase in Cash Held (329,585) (178,981) (12,169) (364,068) (884,803) 434,016 87,817 12,348 205,718 739,899

Cash and Cash Equivalents at the Beginning of the Financial Year 446,802 334,376 12,651 405,452 1,199,281 12,786 246,559 303 199,734 459,382

Cash and Cash Equivalents at the End of the Financial Year 117,217 155,395 482 41,384 314,478 446,802 334,376 12,651 405,452 1,199,281

20182019



The Lauriston Foundation (Inc.) Board of Management Declaration

_______________________________________________

Page | 19

As detailed in Note 1 to the financial statements, The Lauriston Foundation (Inc.) is not a reporting entity because in the opinion of the Board of Management there are unlikely to exist users of the financial statements who are dependent on general purpose financial reports of The Lauriston Foundation (Inc.) for information. Accordingly, this special purpose financial report has been prepared to satisfy the Board of Management’s reporting requirements under the Associations Incorporation Reform Act 2012.

In the Board’s opinion:

(a) there are reasonable grounds that The Lauriston Foundation (Inc.) will be able to pay its debts as and whenthey become due and payable

(b) the attached financial statements and notes thereto presents fairly, in all material respects with The LauristonFoundation (Inc.)’s rules and the Associations Incorporation Reform Act 2012, including compliance with theaccounting standards to the extent described in Note 1.

Signed in accordance with a resolution of the Board of Management made pursuant to the Associations Incorporation Reform Act 2012.

On behalf of the Board Melbourne,

______________________________________ John Morrison Chairman

______________________________________Angus Graham Treasurer

20 April 2020


The Lauriston Foundation (Inc) Board of Management Declaration

Liability limited by a scheme approved under Professional Standards Legislation Member of Deloitte Asia Pacific Limited and the Deloitte Network

Page 20

Deloitte Touche Tohmatsu ABN 74 490 121 060 550 Bourke Street Melbourne VIC 3000 GPO Box 78 Melbourne VIC 3001 Australia Tel: +61 3 9671 7000 Fax: +61 3 9691 8456 www.deloitte.com.au

Independent Auditor’s Report to the Members of The Lauriston Foundation (Inc)

Opinion We have audited the financial report, being a special purpose financial report, of The Lauriston Foundation (Inc) (the “Entity”) which comprises the combined statement of financial position as at 31 December 2019, the combined statement of profit or loss and other comprehensive income, combined statement of changes in equity and the combined statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the declaration by the Board of Management as set out on pages 3 to 19. In our opinion the accompanying financial report presents fairly, in all material respects, the Entity’s financial position as at 31 December 2019, and of its financial performance and its cash flows for the year then ended in accordance with Australian Accounting Standards to the extent described in Note 1 and the Association Incorporation Reform Act 2012.

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 Group in accordance with 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 and Restriction on Distribution and Use We draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been prepared to assist the Entity to meet the financial reporting responsibilities of the Association Incorporation Reform Act 2012. As a result, the financial report may not be suitable for another purpose. Our report is intended solely for the members and Board of Management and should not be distributed to or used by parties other than the members and the Board of Management. Our opinion is not modified in respect of this matter. The Responsibilities of the Board of Management for the Financial Report The Board of Management are responsible for the preparation and fair presentation of the financial report and has determined that the basis of preparation and accounting policies described in Note 2 to the financial report are appropriate to meet the requirements of the Association Incorporation Reform Act 2012 and is appropriate to meet the needs of the members. The Board of Management’s responsibility also includes such internal control as the Board of Management determine is necessary to enable the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error.


Independent Auditor’s Report to the Members of The Lauriston Foundation (Inc.)

Page 21

In preparing the financial report, the Board of Management is responsible for assessing the Entity’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 of Management either intend to liquidate the Entity or to cease operations, or have no realistic alternative but to do so. Auditor’s Responsibilities for the Audit of the Financial Report 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 Entity’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Management

Conclude on the appropriateness of the Board of Management’s 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 Entity’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 Entity 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 of Management 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. DELOITTE TOUCHE TOHMATSU Isabelle Lefevre Partner Chartered Accountants Melbourne, 20 April 2020


Auditor’s Responsibilities for the Audit of the Financial Report

The Lauriston Foundation (Inc.)38 Huntingtower RoadArmadale VIC 3143 Australiat: +61 3 9864 7555e: [email protected]

ABN 93 250 982 468Reg no. A0003450L

[email protected]

http://www.lauriston.vic.edu.au