Student Resource Package – Managing the Budget

Surplus or deficit

This section provides information on the annual pay cycle and rollover of surplus / deficit from one year to the next for the Student Resource Package (SRP).

Annual pay cycle

Allocations in the SRP for salaries are based on a full calendar year, which is 260.893 working days per year. This equates to 365.25 calendar days, taking account of the leap-year cycle.

Actual salary costs in eduPay are charged to schools each year according to the actual number of working days in the year. This may be 260, 261 or 262 working days in any given year.

Schools must take account of these minor variations as part of their normal budget planning. SRP financial reports, including the SRP Management Report and Salaries Fortnightly Transaction Report (both available from the SRP Portal), and the SRP Planner (accessible from the SRP Portal) are programmed to take account of these annual variations.

End of year deficit

Any credit deficit remaining against the school will be recovered from the school’s cash component in the following year. This recovery will occur against the first quarterly cash grant (QCG) after the reconciliation is finalised for all schools. If there are insufficient funds available in the first QCG to cover the outstanding deficit amount, the balance will be recovered from the next QCG(s). If there remains an outstanding deficit amount after the Term 4 QCG, the school will be contacted, and arrangements made for the balance to be paid, preferably via Electronic Funds Transfer (EFT).