This policy provides an overview of the schools funding model.
The Student Resource Package (SRP) was introduced for Victorian government schools in 2005 to bring about improvement in learning outcomes for students. The SRP reflects the specific funding amounts provided to schools in each school year. The SRP funding model continues for schools in 2022.
The SRP comprises the following 3 key types of funding:
- student-based funding — this is the major source of funding for schools and includes funding that reflects core student learning needs and equity requirements
- school-based funding — provides funding for school infrastructure and for school-specific programs
- targeted initiatives funding — funding for programs with specific criteria or defined life spans.
The SRP guidance informs schools about how funding is provided to schools under each category as follows (please click on the heading to see the Policy and Advisory Library page for that topic):
The SRP for schools is:
- determined in September or October in the preceding school year based on projected enrolments for the forthcoming year, and
- confirmed at the end of Term 1 each year based on the and revised at the end of Term 2 to reflect the results of the enrolment verification program
Schools are expected to use SRP funding for the purpose for which the specific category of funding is allocated and in accordance with the SRP guidance.
Reviewed 02 January 2023