Finance Matters

From Term 1 2017, Victorian government and Catholic schools will use the new Victorian Curriculum F-10. Curriculum related information is currently being reviewed and may be subject to change.

For more information on the curriculum, see:
The Victorian Curriculum F–10 - VCAA

About the program

Finance Matters is a new professional learning program designed to provide school leaders with an understanding of financial management principles and responsibilities in schools.

The program, developed by the Schools Resource Allocation Branch (Financial Services Division), will launch in 2017.

The program provides essential professional development to school leaders and school administrators focussing on financial management best practice.

It is offered to all school leaders and administrators including principal class, aspiring principal class, business managers, aspiring business managers and education support staff.

The program will be delivered as six half day workshops. There is no cost to participants or schools to attend.

Finance Matters - Financial management program

All school leaders and administrators can enrol into Finance Matters.

This new professional learning program is:

  • designed to provide an understanding of financial management principles and responsibilities in schools
  • delivered as six half day workshops
  • no cost to participants or schools to attend.

For more information, see: Financial Management Programs

What does the program cover?

Financial management

  • overview of financial responsibilities
  • internal control
  • fraud prevention
  • procurement and value for money
  • asset management
  • school council governance and segregation of duties.

Student Resource Package (SRP)

  • framework of the SRP
  • funding model
  • policy and procedures
  • reporting systems
  • introduction to workforce planning issues and the SRP planner
  • efficient and economic use of resources.

Workforce budgeting

  • workforce management
  • planning and budgeting
  • SRP planner
  • typical school workforce planning issues
  • school workforce plan creation
  • modelling and budget considerations
  • employment on-costs
  • SRP management reports
  • deficit management and support.

Financial reporting

  • accrual accounting concepts
  • school council reports
  • chart of accounts
  • finance committee reports
  • annual reporting.

Budget preparation

  • annual cash budgeting process
  • emphasis on the need for a planned approach
  • pre-budget preparation
  • budget preparation
  • recording the budget on CASES21 Finance
  • monitoring the budget
  • variance analysis
  • cash flow
  • reporting and decision making.

Taxation

  • GST
  • FBT
  • BAS
  • building and library funds.

CASES21

CASES21 training is provided for business managers, principals and administration staff at thirteen regional training centres. Courses range in length from a few hours to six half-day sessions, and include topics such as Finance Matters.

For more information, see: CASES21 Training

Further information

For more information regarding the Finance Matters program, see: Financial management learning programs