Finance Matters

Finance Matters is a learning program that gives school leaders an understanding of financial management principles and responsibilities.

About the program

The program:

  • provides essential professional development to school leaders and school administrators focussing on financial management best practice
  • is offered to all school leaders and administrators including principal class, aspiring principal class, business managers, aspiring business managers and education support staff
  • has no cost to participants or schools.

Enrol

All school leaders and administrators can enrol into the program.

To enrol, see: financial management programs (eduMail login required)

What the program covers

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 management

  • Overview of financial responsibilities
  • Internal control
  • Fraud prevention
  • Procurement and value for money
  • Asset management
  • School council governance and segregation of duties

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​

Financial reporting

  • Accrual accounting concepts
  • School council reports
  • Chart of accounts
  • Finance committee reports
  • Annual reporting

Taxation

  • GST
  • FBT
  • BAS
  • Building and library funds

Insurance

  • Insurance principles
  • Department Insurance arrangements​ : ​build​ing re-instate​ment program​ / school equipment coverage scheme​ /​ VMIA School Council Insurance Program
  •  Insurance policies: property / motor vehicle / travel / personal accident / liability

Get advice

For more information, see: financial management learning programs