3.7 The Financial Viability of a School

Section 53 – (1) (fa) the financial viability of the school

Þ  New Schools

Þ  Renewal of Registration

Þ  Projected Demand

Þ  Registration - a Condition of Funding

3.7.1 New Schools

For new schools the statement should include

1. a business plan that includes a three-year financial projection of income, expenditure for operating purposes, expenditure for capital purposes and anticipated Commonwealth capital grants;

2. documentation to demonstrate that the application for a new school is founded upon a realistic assessment of the financial support which the school will be able to generate from its supporting community, including an enrolment projection.

3.7.2 Renewal of Registration

For schools seeking renewal of registration, audited financial statements for the financial year immediately prior to the review year must be provided. Alternatively, a statement from a qualified auditor to verify the financial viability of the school will be acceptable.

3.7.3 Projected Demand

Details of demand and projected student enrolments are required for proposals for both new schools and schools seeking to alter their registration.  

3.7.4 Registration as a Condition of Government Funding

It should be noted that provision of Commonwealth and State Government funding to any school is contingent upon registration by the Schools Registration Board.

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