ANOTHER Sydney Muslim school is being investigated for serious financial mismanagement, with an investigation into the whereabouts of millions of dollars in payments made to companies linked to its directors.
Unity Grammar College, a Muslim school of about 800 students in the far southwestern suburb of Austral, is the subject of a special audit by the NSW Department of Education, which is investigating large rental payments, as well as "consulting expenses and construction services", made to companies owned by several of the school's board of directors.
According to the school's last available financial report, Unity Grammar received $6.8 million in state and federal funds in 2012, with 80 per cent of the school's funding coming from taxpayers.
Under state and commonwealth laws, education funding is provided strictly on a not-for-profit basis.
According to Australian Securities and Exchange Commission records, last year the school paid $1.4m for rent, consulting and construction services to "related parties". In 2011, just over $1m was paid in rent and "consulting expenses".
The Australian understands the department is investigating the payments to a company registered as Crescent Investments (NSW) Pty Ltd, whose shareholders and directors are the same as four members of the school's board of directors.
An education department spokesman confirmed an audit was being conducted into the school after the alarm was raised late last year.
"The NSW Department of Education and Communities was informed in late 2013 of concerns regarding the school's compliance with its obligations under the NSW Education Act 1990, which provides that state government financial assistance is not to be paid to non-government schools operating for profit," the spokesman said.
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