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education.vic.gov.au

Student Resource Package — Overview

Policy last updated

16 September 2020

Scope

  • Schools
  • School councils
Date:
March 2020

Policy

Refer to the Resources tab for the SRP interactive site, the 2022 SRP Indicative Guide and other SRP resources

Policy

This policy provides an overview of the schools funding model.

Details

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 2020.

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 full guidance is available at the Resources tab.

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 February School Census Enrolment Verification Program 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. 

Note: Information about, and tools for managing the budget are set out at Student Resource Package — Managing the Budget.


Guidance

Guidance

This guidance provides information about how funding is allocated to schools through the Student Resource Package.

This guidance contains the following chapters:

  • Student Resource Package
  • Funding Allocation and Annual Budget Cycle

Student Resource Package

Student Resource Package

The Student Resource Package was introduced for Victorian government schools in 2005 to bring about improvement in learning outcomes for students. The Student Resource Package funding model continues for schools in 2020.​

Objectives

  • Shifting the focus to student outcomes and school improvement by moving from providing inputs to providing the resources needed to improve outcomes.
  • Improving the targeting of resources to achieve better outcomes for all students by aligning resourcing to individual student learning needs.
  • Ensuring the fairness of treatment of schools, with schools with the same mix of student learning needs receiving the same levels of funding.
  • Improving the transparency of student resource allocations by reducing complexity.
  • Providing greater certainty for schools about their ongoing level of resourcing, allowing for more effective forward planning.
  • Providing flexibility to meet increasingly diverse student and community needs and encourage local solutions through innovation.
  • Developing a dynamic model that allows ongoing review and refinement based on evidence.

Features of the Student Resource Package

The SRP features a distinction between student-based funding, school-based funding and targeted initiatives.

  • Student-based funding is the major source of resources. It is driven by the levels of schooling of students and their family and community. characteristics. It consists of allocations for core student learning and equity. The majority of funding within this area is allocated through per student rates.
  • School-based funding provides for school infrastructure and programs specific to individual schools.
  • Targeted initiatives include programs with specific targeting criteria and/or defined life spans.

School SRP Interactive Site

To see budget and planner reports for principals and delegates, visit Student Resource Package.


Funding Allocation and Annual Budget Cycle

Funding Allocation and Annual Budget Cycle

The SRP framework is based on funding allocations and the annual budget cycle.

Funding allocations

Funds allocated in each component are nominated as either credit, for salaries paid on eduPay, or cash for expenses incurred locally.  Schools can interchange funding between credit and cash.

Flowchart outlining funding allocations - student-based funding, school-based funding and targeted initiatives

Annual budget cycle

Schools receive their Student Resource Package and relevant updates according to the following cycle.

Indicative

Student Resource Package — issued in September or October of the preceding year using enrolment projections advised by schools.

This budget provides the basis for planning.

Confirmed

Student Resource Package — issued in March of the budget year, based on the annual enrolment census.

Revised

Student Resource Package (where applicable) — may be issued for updates or changes during the year, for example following audit corrections to the census or as a result of integration student mobility.


Resources

Resources

School student resource package (SRP) interactive site (requires password) 

To see budget and planner reports for principals and delegates, login to student resource package

Current SRP guidance

Archived SRP guides


Reviewed 03 March 2020