Refer to the Resources tab for a link to the Cases21 Portal (under the heading ‘Schools support’).
Policy
This policy sets out requirements for schools and school councils when managing school-related finances.
The Finance Manual is set out in the Guidance tab.
Summary
- Victorian government schools have a devolved decision-making and financial management system. Responsibility for financial management is shared between the school council and the principal.
- School staff responsible for financial management must meet mandatory requirements regarding financial compliance, control and accountability as set out in the Finance Manual.
- This policy reflects the department’s current financial reporting framework, best practice financial management and aligns with applicable Australian accounting standards, the Education and Training Reform Act 2006 and the Financial Management Act 1994
- A complete list of all resource documents and tools relating to the Finance Manual is available on the Resources tab, in addition to being available on each relevant Finance Manual section.
Details
Schools and school councils must:
- adhere to all mandatory (must do) policy as outlined in the Finance Manual
- adhere to all prohibited (must not do) policy as outlined in the Finance Manual.
For a complete list of all resources relating to the Finance Manual, refer to the Resource tab.
Definitions
Finance Manual
The Finance Manual means the Finance Manual for Victorian government schools, as specified and defined in Ministerial Order 1174. Each section of the Finance Manual is set out in the Guidance tab on each of the pages listed above.
The following acronyms and definitions are commonly used throughout the sections of the Finance Manual listed above. These acronyms and definitions must be read in conjunction with the definitions contained in the Education and Training Reform Act 2006 (Vic) and the Education and Training Reform Regulations 2017 .
Other relevant definitions are set out below.
-
ABN
Australian Business NumberABR
Australian Business RegisterADI
Authorised Deposit-Taking InstitutionAPRA
Australian Prudential Regulation AuthorityASIC
Australian Securities Investments CommissionATO
Australian Taxation officeAUP
Agreed-Upon ProceduresBAS
Business Activity StatementBER
Building Education RevolutionBDA
Balance Day AdjustmentBusiness Manager
Business Manager usually refers to an Education Support (ES) staff member who performs financial and related administrative activities. The term is used throughout the manual to cover administrative managers, registrars and clerical officers in smaller schools and principals in small primary schools where clerical assistance is not available, and any other officer with this responsibilityCapital acquisitions
Capital acquisitions are required to be identified separately on the Business Activity Statement (BAS). Capital assets examples include plant and equipment, motor vehicles, land and buildingsCASES21
CASES21 (Computerised Administrative Systems Environment in Schools) is the software package provided to Victorian government schools to support school administration, finance and central reportingCBS
Centralised Banking SystemCoA
Chart of AccountsCRT
Casual Relief TeacherCSEF
Camps Sport and Excursion FundDE or the department
Department of Education VictoriaDesignated officer
A designated officer is astaff member authorised by the school council (after consultation with the principal) to carry out administrative functions that affect financial decisions of the school councilDGR
Deductible Gift RecipientDTF
Department of Treasury and FinanceECD
Early Childhood Development (Kindergartens, Day Care, Maternal Health)EFTPOS
Electronic Funds Transfer at Point of SaleEOP
End of PeriodEOY
End of YearES
Education SupportFBT
Fringe Benefits TaxFSD
Financial Services Division, a division within the Department of Education Victoria.FTC
Fuel Tax CreditsGL
General LedgerGST
Goods and Services TaxGVM
Gross Vehicle MassHR
Human ResourcesHYIA
High Yield Investment AccountICAS
International Competitions and Assessments for SchoolsLOTE
Languages Other Than EnglishLSL
Long Service Leave -
NBV
Net Book ValueNPSE
Non Profit Sub EntityPO
Purchase OrderRCTI
Recipient Created Tax InvoiceSchool Community Associations
School Community Associations are organisations formed for the purpose of assisting schools in terms of regulations 52 to 57 of the Education and Training Reform Regulations 2017. They may, with the approval of the school council, raise funds for the benefit of the schoolSDS
Special Developmental SchoolSECS
School Equipment Coverage SchemeSEIL
Senior Education Improvement LeaderServices
Services include the performance of any service required by the school to initiate or maintain its educational programs or improve and maintain its equipment, buildings, furniture and furnishings and groundsSFAF
Schools Financial Assurance FrameworkSFLO
School Finance Liaison Officer, employed by the department to assist schools with ongoing support in relation to their financial affairs (such as support setting up or closing down the school)SFMA
Strategic Financial Management AdvisorSMS
Schools Maintenance SystemSRO
State Revenue OfficeSRP
Student Resource PackageSTLR
Short Term Leave ReplacementStores
Stores includes all equipment and all materials required by a school to initiate or maintain its educational programsTAC
Transport Accident CommissionTCV
Treasury Corporation of VictoriaTFN
Tax File NumberVAGO
Victorian Auditor-General’s OfficeVET
Vocational Education and TrainingVFMC
Victorian Funds Management CorporationVIT
Victorian Institute of TeachingVMIA
Victorian Managed Insurance AuthorityVPSSA
Victoria Primary School Sports AssociationVRQA
Victorian Registration and Qualifications AuthorityVSBA
Victorian School Building AuthorityVYDP
Victorian Youth Development ProgramWWC
Working With Children check
Related policies
- Annual Report to the School Community
- Conflict of Interest
- Community Use of Schools – Hiring and Licensing
- Fraud and Corruption Control
- Gifts, Benefits and Hospitality
- Insurance for Schools
- Occupational Health, Safety and Wellbeing Management in Schools
- Parent Payments (also known as parent voluntary contributions)
- Parents' Clubs
- Part-time Employment – Teaching Service
- Procurement – Schools
- Records Management – School Records
- Risk Management – Schools
- School Council Employment
- Sponsorship
- Student Resource Package – Overview
- Student Resource Package – School Infrastructure
- Student Resource Package – School Specific Programs
- Student Resource Package – Targeted Initiatives
- Student Resource Package – Core Student Learning Allocation (Student Based Funding)
- Student Resource Package – Equity Funding (Student Based Funding)
- Student Resource Package – Managing the Budget
- Taxation – Employees and Income Tax
- Travel
- Travel and Personal Expenses – Teaching Service
- Workers' Compensation
Relevant Legislation
- A New Tax System (Australian Business Number) Act 1999
- A New Tax System (Goods and Services) Act 1999
- Asset Management Accountability Framework
- Audit Act 1994
- Australian Accounting Standards Board
- AASB 7 Financial instruments
- AASB 13 Fair Value Measurement
- AASB 101 Presentation of Financial Statements
- ASSB 107 Statement of Cash Flows
- AASB 116 Property, Plant and Equipment
- AASB 117 Leases and AASB
- AASB 118 Revenue
- AASB 120 Accounting for Government Grants and Disclosure of Government Assistance
- AASB 123 Borrowings
- AASB137 Contingent Liabilities and Contingent Assets
- AASB 138 Intangible Asset
- AASB 139 Financial Instruments Recognition and Measurement
- AASB 1004 Contributions
- Banking Act 1959
- Code of Conduct for Directors of Victorian Public (as applicable to school council members)
- Code of Conduct for Victorian Public Sector
- Constituting School Council Order (Model Order)
- Education and Training Reform Act 2006 — Part 2.2 — Government Schools
- Education and Training Reform Act 2006 — Part 2.3 — Government School Councils
- Education and Training Regulations 2017 — Part 4 — Government School Councils and Parent Clubs
- Financial Management Act 1994 — Part 3 — Public Ledger and Public
- Financial Reporting Direction 103H Non-Financial Physical
- Fringe Benefits Tax Assessment Act 1986
- Fuel Tax Act 2006
- Income Tax Assessment Act 1936
- Income Tax Assessment Act 1997
- Ministerial Order 1388
- Ministerial Order 1389
- Ministerial Order (staff login required)
- Public Administration Act 2004
- Standing Directions of the Minister for Finance 2018 under the Financial Management Act 1994
- Section 2.4.2 — Chief Finance Officer — General responsibilities
- Section 3.1 — Effective financial governance
- Section 3.2 — Oversight and assurance
- Section 3.3 — Financial Authorisations
- Section 3.4 — Internal Control Systems
- Section 3.5 — Fraud, corruption and other losses
- Section 3.6 —Purchasing and Prepaid Debit Cards
- Section 3.7 — Managing risk
- Section 3.9 — Managing financial information
- Section 4.1 — Planning and managing performance
- Section 5.0 — Compliance and Reporting
- Section 5.1 — Financial management compliance
- Section 5.2 — Annual reporting
- Section 5.3 — External reporting and information provision.
- Statement of Accounting Concepts 4 — Definition and Recognition of the Elements of Financial
- Victorian Managed Insurance Authority Act 1996
Reviewed 24 April 2025