Annual Financial Report

Trinity Grammar School, Kew experienced another successful year in 2025, characterised by strong student performance and high levels of community engagement. The school maintained a strong enrolment position and this stability, supported by the School Council and the parent community, continues to underpin the school’s academic and co–curricular programs. 

While the school’s financial position remains sound, management continues to navigate the ongoing impact of the State Government’s Payroll Tax, which remains a significant pressure on the bottom line. In response, the Finance Team focused on a 2026 Budget program that aimed to reduce fee indexation impact on families while improving the school’s EBITDA and net surplus position, and without adversely impacting on programs and student learning outcomes. 

A significant focus of 2025 was advancing the school’s long-term infrastructure goals at both the Kew and Bulleen campuses: 

Bulleen Masterplan: Following the appointment of 2 Construct Pty Ltd, works officially commenced on the Bulleen Pavilion project. Demolition was completed rapidly and, by year’s end, the project had reached the structural phase with all ground works having been completed. Through a Design and Construct methodology, the school has already accepted approximately $300,000 in value management savings, while working productively with the builder and consultant team to ensure the project is ahead of schedule and quality outcomes are being achieved. 

Kew Masterplan: The school continued to progress some challenging statutory town planning processes to help with the critical move critical of unlocking the “Village” works. While this process has incurred additional time, it is essential for the Masterplan’s delivery. 

2025/26 Capital Works: To accommodate the ninth stream for Year 7 in 2025 and Year 8 in 2026, several projects were approved for the past two summer breaks, including new classroom construction in Merritt House and on the Hindley Terrace, while set upgrades to the P&F Hall and modifications to the Cotham Road Showroom for music rehearsal space were other key projects completed. 

The Scholarian Project represents a major milestone in the School’s Digital Strategy.  Partnering with Atturra and Brisbane Grammar School, Trinity is transitioning to a single Microsoft Dynamics-based ecosystem to replace ageing systems like Synergetic and Firefly. By the end of 2025, the project had reached the User Acceptance Testing (UAT) stage for core modules including People & Profiles, SIS, and the Parent Portal.  

Additionally, the school is implementing a Genetech solution to integrate all security and building management systems into a single operating platform. This will complete the second stage of the school’s infrastructure upgrade strategy, ensuring all emergency management, security and mechanical systems are centrally managed across both the Kew and Bulleen campuses. This has followed the extensive fire, emergency and PA systems upgrade completed earlier in the year. 

Other key highlights of the 2025 school year included: 

Establishment of the Trinity Foundation: A major governance milestone was reached with the formal establishment of the Trinity Grammar School Kew Foundation. The Foundation Board, chaired by Mr. James Brown (OTG 1992), has been appointed, and ACNC registration for the entity and its Trustees is complete. 

Fundraising: The annual Community Giving Day was highly successful, and the initial work of the capital campaign is underway to support the Bulleen Pavilion development and other upcoming Master Plan projects. 

Strategic Risk Management: The school formalised its new Critical Incident Response Plan (CIRP) following a comprehensive professional development day and a live desktop scenario involving the Senior Leadership Team. 

Sustainability: The Council adopted its first ESG (Environmental, Social, and Governance) strategy which was an exciting step to guide future sustainability efforts. 

Community Safety: Following proactive engagement with Boroondara City Council and the Department of Transport and Planning (DTP), funding was approved by the State for a new ‘wombat’ crossing on Charles Street to improve pedestrian safety. 

The Treasurer presented details of the 2025 Financial Year at the Annual Community Forum and at the recent Annual General Meeting of the School. A summary of the financial position of the school, along with comparative information, can be seen in the graphs and tables below. 

2025 Financial Results & Compartives

Income	2025	2024
	$’000	$’000
Tuition fee income	67,334	59,906
Grants	7,858	7,261
Other income	3,541	4,467
	78,733	71,634
Expenditure	2025	2024
	$’000	$’000
Academic salaries and on-costs	36,174	33,731
Education expenses	9,291	8,240
Scholarships and bursaries	3,453	3,426
Depreciation (non-cash)	5,664	5,108
Maintenance, cleaning and grounds	5,844	5,228
Administration expenses	10,693	10,010
Significant one off and non-cash items	2,759	2,332
Finance and other costs	91	58
Payroll tax	2,572	1,221
Retained for capital development	2,194	2,279
	78,733	71,634

The chart below details the comparative fundraising income that has been generated by the School:

Copies of the audited Financial Statements can be obtained from the office of the Director of Business.