Strategic Finance

Schools Resourcing and Finance

December 2018
Our Focus – Financial Management Strategies
 Provide advice and targeted support to • Legislation •Workforce
Capability
schools to maximise resources as • Schools Authorising
•Building financial
Environment
follows: • Schools financial audit confidence in
decision making

• Strengthening financial governance to

Strengthen
ensure all schools operate within the Financial Financial
schools authorising environment. Governance Management
Training
• Developing a financial management
training framework to increase workforce
capability for business managers and school
leaders. Effective use Best practice
of Resources Budgeting
• Developing best practice budgeting
guidelines. • Maximise Resources to
deliver educational
outcomes • Resources
• Providing support and direction to schools linking to
• Bank Balance, Reserves
to maximise resources to deliver schools
educational services. strategic plan
Casual Relief System (CRS) Review

Why the review?

• ensure transparency and clarity of staff resource monitoring across
schools.
• ensure schools can view their SRA staffing balances on a timely basis.
• drive broader school reform through efficient and effective practices
and increased accountability.
Financial Governance

Authorising Environment Compliance Framework

• Financial Governance Module
• Schools Audit Schools Follow Up
• Goods and Services Tax
Schools Financial Management
Review Outcomes
• Expenditure approval Support (SFMS)

• Credit card compliance

Internal/External
Self-Assessment
Governance

Compliance
Help Desk
•

Training
Fortnightly salary report

Review

Audit
Schools Financial Management Training
Framework Focus
• Input from: • Financial Governance
•SRA
•schools budgets
• Delegations •finance report
• Principals and business managers’ survey • Credit Card Compliance •Build financial
• Taxation (GST)
• KPMG baseline scan data • Procurement
confidence
•Five year budget
• Course Outline - Deakin University Governance Budgeting & plan
& Financial
Compliance Reporting

• Strategic and Operational

perspective. Staff Cash
Managemen
• Review of pay reports Budgeting & • Understandin
• Monitoring staffing usage Reporting
t g bank
• Monitor CRS Accounts balances
• Petty cash
• Effective use
of cash (link
to budget
development)
Resource Management

Best Practice Budgeting Effective Use of resources

• Developed best practice strategic guidance • Maximise resources to deliver educational

concepts. outcomes
School Budget
Planning • Consideration of schools cash – budget
development
School Budget Process
• Development of five year plan
Budget Policies • School visits

Budgeting Principles

Strategic Budgeting
Approaches
Summary
• Implementation over 3-5 years
Financial • Schools Audit – commenced in 2018
Governance • Compliance review – trial to commence from mid June 2019

Schools Financial
Management • Commencing beginning of Term 1, 2019
Training
Best Practice
• Rollout of guidance concepts commenced in October 2018
Strategic
• Application of concepts, school visits - continue throughout 2019
Budgeting

Effective use of • Re-investment of cash to maximise educational outcomes -2019

Resources • Strategic budgeting, school visits – ongoing