School funding FAQs
Student Resource Package
Q: How is a school’s budget calculated?
A: The main source of funding for our government schools is distributed through the student resource package (SRP). Most of the money included in the package is core student funding, which is worked out based on enrolment numbers, stages of learning and the school’s location.
The SRP also includes equity funding, which provides additional money for schools with students who face extra barriers to education. This helps ensure that we are providing appropriate funding to support students and schools that need it most.
Q: What does confirmed funding mean?
A: Schools receive their confirmed funding allocation based on enrolment and demographic data reported in the February census. This amount is updated in June through the revised budget process of auditing school enrolments.
Q: Why do school budgets change?
A: chool budgets vary each year for a range of reasons, but primarily because school funding is calculated based on enrolment numbers, which means that as school enrolments change, so does the school’s funding.
Q: Are these budgets final?
A: For most schools this is the final budget cycle based on enrolment movements, however schools that are audited for enrolment purposes may have some changes that impact their final position. This process is normally undertaken in May/June annually and reconstructed budgets for audited schools only are republished in June.
Q: Why do some schools have different equity funding allocations to 2017?
A: Equity funding is calculated each year based on student demographic data. As student demographics change each year, schools will receive different amounts of equity funding. The total amount of equity funding going to Victorian government schools remains the same.
Q: What’s the minimum amount a school can receive?
A: A minimum equity provision of $5,000 will be provided in 2018 to ensure all schools continue to benefit from the equity reforms.
Q: What happens if a school loses equity funding in 2018?
A: Fluctuations in school funding due to enrolment and demographic change are part of the normal school budget process. Schools have planning strategies in place to manage budgets. The Annual Implementation Plan process began in 2017.
Q: Does the equity funding cease at the end of 2018?
A. The equity funding for Victorian government schools does not stop at the end of the 2018 school year. The Victorian Government remains committed to equity funding, and at a minimum will continue at the current level of funding next year.