COVID-19 update for Bastow participants

Finance Matters

  • Audience
    Principal class
    Business manager
    Teacher leader
  • Next Intake
    Term 3
  • Location
    Regional
    Metro
  • Duration
    2 whole-day and 3 half-day workshops
  • Mode
    Face to face
  • Fees
    DET fully subsidised

Note: Finance Matters workshops have been suspended in response to the COVID-19 regulations relating to public gatherings.

Develop the skills to effectively manage school finances. 

Finance Matters focuses on building your technical capability in specific areas of financial management to support the best educational outcomes for your students. 

You'll explore how to best manage financial obligations and how to implement effective planning techniques to make your school more efficient. 

You will leave knowing how to make sound financial decisions for your school. 

Finance Matters supports the 'Professional leadership' priority area of the Victorian Education State Framework for Improving Student Outcomes (FISO). 

Finance Matters is Module 5 in the Strategic Management for School Leaders suite, which supports the Department of Education and Training's commitment to lifting the organisational performance of schools.

Audience 

Designed for principal class members, business managers, and teaching and education support staff. 

Facilitator

Workshops are designed and delivered by the Schools Financial Management Support team. 

Workshops

There are 7 modules in Finance Matters, delivered over the course of 5 face-to-face workshops:

  • Workshop 1: Student Resource Package and Workforce Budgeting (1 day)
  • Workshop 2: Financial Management (half-day)
  • Workshop 3: Budget Preparation and Financial Reporting (1 day)
  • Workshop 4: Taxation (half-day)
  • Workshop 5: Insurance (1.5 hours)

It is recommended that you complete all 7 modules. 

Pre-workshop activities

Before attending a workshop you may be asked to investigate or collate school data to ensure you can effectively engage in the learning content. 

Each workshop will explore a specific area of school financial management. 

Module 1: Student Resource Package (SRP)

You'll learn about:

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

Module 2: Workforce Budgeting

You'll learn about:

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

Module 3: Financial Management

You'll learn about: 

  • financial roles and responsibilities in your school
  • internal control
  • fraud prevention
  • procurement and value for money
  • asset management. 

Module 4: Budget Preparation

You'll learn about:

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

Module 5: Financial Reporting

You'll learn about: 

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

Module 6: Taxation

You'll learn about:

  • how the goods and services tax applies to schools
  • managing fringe benefits tax
  • lodging a business activity statement
  • building and library funds. 

Module 7: Insurance

You'll learn about: 

  • insurance principles
  • Department insurance arrangements
  • insurance policies. 

Michelle Suares
Finance Project Officer, Course Coordinator 
Schools Financial Management Support
7022 2223