School budget Calculates the likely surplus or deficit in SRP funding at the end of the management report - year SRP- first page only Investment register Where the school has investments other than the high yield investment account, shows amounts invested, terms of investment, types of investment, where invested and interest rates to be earned Note: that the investment register, cash flow forecast report, purchasing card statements and school budget management report are not generated through CASES21. Victorian government schools use accrual accounting. This means that the operating statement, annual program budget report and annual sub-program budget reports show revenue when it is earned, and costs when they are incurred. This will usually be before the school receives funds or pays bills. This is normal accounting practice. A sample of each of the CASES21 reports is attached to this unit, with notes to help councillors understand the reports. The below shows other reports to which the finance sub-committee may refer. Report Details YTD additions Shows new assets (such as equipment) – accounting (AR21122S) YTD disposals Shows assets sold or of no value – accounting (AR21131S) Cash payments greater or Lists payments made which were greater than or equal to $1,000 to $1,000 (GL21007) Sundry debtor Shows debtors (those who owe the school money) and the period the balance (DR21101) amount has been owed Family balance Shows debtors (those who owe the school money) and the period the (DF21102) amount has been owed by families Creditors balance Shows creditors (those to whom the school owes money) and the period (CR21101) the amount has been owed Reviewing reports and taking action Generally speaking, the treasurer and finance sub-committee at each meeting receive copies of the main reports from the principal or business manager with advice concerning any issues that require council action. They discuss the issues with the principal or business manager to achieve a shared understanding and make recommendations to council. For example:
School budget management report - SRP- first page only Calculates the likely surplus or deficit in SRP funding at the end of the year Investment register Where the school has investments other than the high yield investment account, shows amounts invested, terms of investment, types of investment, where invested and interest rates to be earned Note: that the investment register, cash flow forecast report, purchasing card statements and school budget management report are not generated through CASES21. Victorian government schools use accrual accounting. This means that the operating statement, annual program budget report and annual sub-program budget reports show revenue when it is earned, and costs when they are incurred. This will usually be before the school receives funds or pays bills. This is normal accounting practice. A sample of each of the CASES21 reports is attached to this unit, with notes to help councillors understand the reports. The below shows other reports to which the finance sub-committee may refer. Report Details YTD additions – accounting (AR21122S) Shows new assets (such as equipment) YTD disposals – accounting (AR21131S) Shows assets sold or of no value Cash payments greater or to $1,000 (GL21007) Lists payments made which were greater than or equal to $1,000 Sundry debtor balance (DR21101) Shows debtors (those who owe the school money) and the period the amount has been owed Family balance (DF21102) Shows debtors (those who owe the school money) and the period the amount has been owed by families Creditors balance (CR21101) Shows creditors (those to whom the school owes money) and the period the amount has been owed Reviewing reports and taking action Generally speaking, the treasurer and finance sub-committee at each meeting receive copies of the main reports from the principal or business manager with advice concerning any issues that require council action. They discuss the issues with the principal or business manager to achieve a shared understanding and make recommendations to council. For example:
isg_financemanual.docx