Financial management

​It is our job to make sure independent schools and senior secondary providers are capable of managing their own finances. Your school should take a proactive approach to preventing, detecting and treating any signs of financial stress.

Students are also consumers, so we may take action to protect their interests if issues around a school's financial viability arise.

We have prepared guidelines to help schools understand our powers and how we conduct financial capability assessments: 

• VRQA guideline - school financial capability assessment (docx - 178.8kb)
  
• Financial capability assessment (Schedule 1) (xlsx - 103.38kb)
  

​We have also worked with Somerset Education to produce a booklet on financial sustainability, common causes of financial stress, and methods for diagnosing financial health.

To download the booklet, see: 

• Financial management for independent schools (doc - 1.16mb) 
  
• Financial management for independent schools​ (pdf - 233.92kb) 

We published video presentations to help schools with financial management. To watch them, see:

• Independent school briefings: Financial governance and government funding
• Webinar recording: School financial viability – business in the face of COVID-19

See also:

• Minimum standards and other requirements for schools
• Bushfire preparedness
• Anaphylaxis management
• Child safe standards​