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School operations

Student Resource Package — Managing the Budget

Surplus or deficit

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 on 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.

Rollover of surplus or deficit from one year to the next

Any credit surplus remaining against the school after the reconciliation process is completed is carried forward to the following year. Schools then have the option of either retaining the funds as credit, or submitting a ‘credit to cash against previous year surplus’ request to gain immediate access to the funds as cash (refer to Credit / Cash Transfers below)

Note: Not all programs have the option of requesting funds for immediate access.

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) following the finalisation of reconciliation 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).

Example 1: Recovery from Term 3 QCG

Term 3 QCG Term 4 QCG EFT/Cheque
QCG Amount $50,000 $50,000
Deficit Amount $10,000 $10,000 $0 $0

Example 2: Recovery starting in Term 3 and finishing Term 4 QCG

Term 3 QCG Term 4 QCG EFT/Cheque
QCG Amount $50,000 $50,000
Deficit Amount $60,000 $50,000 $10,000 $0

Example 3: Recovery starting in Term 3 QCG and requiring repayment by cheque

Term 3 QCG Term 4 QCG EFT/Cheque
QCG Amount $50,000 $50,000
Deficit Amount $110,000 $50,000 $50,000 $10,000
Guidance chapter on managing a surplus or deficit

Reviewed 16 December 2020

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