As your financial planning and budgeting for 2019 takes shape, the Finance Committee reminds you of the funding arrangements ratified by LESNW Council in September last year.
As we await clarity around the SES Review and the impact on Commonwealth funding into the future (see attachments under this article), these arrangements below remain unchanged for 2019.
“The new funding model will be phased in over 6 years; schools will move from their actual 2017 SRS percentage to a target of 80 percent Schooling Resource Standard (SRS) for non-government schools by 2023.
- Schools will receive 98.25% of Commonwealth Funding in 2018, consequently the System Support Fund will receive 1.75% for redistribution.
- Schools will receive 98.00% of Commonwealth Funding in 2019, consequently the System Support Fund will receive 2.00% for redistribution.
- Yirara College will receive 100% of their Commonwealth Funding.
- Each school with an SRS below 80%, will receive a minimum of 3% per capita guaranteed increase.
- Each school with an SRS above 80%, will receive a minimum of 1% per capita guaranteed increase. (new policy element)
- Current Small School Funding to be phased out, in equal instalments over 5 years, 2018-2022. (new policy element)”
Chair, Finance Committee