Purpose
Long-term financial management is everybody’s business. It is the product of ongoing and rigorous financial management practices at all organisational levels, combined with strategic actions for both immediate and longer-term improvement. Sound long-term financial management helps to provide the financial certainty and flexibility needed for efficient and effective ongoing service delivery and planning.
Financial objectives
Sustainable systems and infrastructure
Maintain financial flexibility
Strong resource management
Our principles
Be accountable—taking responsibility for making decisions at all levels of the organisation to maximise value and efficiency in current resource utilisation to deliver educational outcomes.
Fit-for-future investment—planning, innovating and using resources with future generations in mind.
Build resilience—ensuring financial flexibility to enable responsiveness to new or changing resourcing needs.
Making it happen
The Long-Term Financial Management principles will be applied using a compliance management systems approach.
Commitments & structure
- Endorsement
- Alignment
- Resourcing
Planning
- Consultation
- Collaboration
- Resourcing
Implementation
- Responsibility is aligned
- Training needs identified
- Controls established
Monitoring & measuring
- Reporting
- Documented progress
Continuous improvement
- Regular review
- Intervention
- Building capacity
Commitments and structure
- Endorsement
- Alignment
- Resourcing
Planning
- Consultation
- Collaboration
- Resourcing
Implementation
- Responsibility is aligned
- Training needs identified
- Controls established
Monitoring and measuring
- Reporting
- Documented progress
Continuous improvement
- Regular review
- Intervention
- Building capability
Cost drivers
- Funding indexation per student, per federal legislation
- Projected annual enrolment growth
- Wage increase policy and staffing allocations
- Projected price inflation
- Projected Building Price Index inflation
- Changes in curriculum
- Policy and resourcing model changes
Roles and responsibilities
People, infrastructure and financial services
- Lead and contribute to sound financial management practice including data analysis, fraud prevention, internal controls, budgeting, long-term planning and forecasting.
- Partner in service delivery, support and asset management.
- Build relationships with funding agencies to improve revenue assurance and flexibility.
- Optimise whole-of-life costs for infrastructure and systems to ensure value for money.
- Reduce waste and improve efficiency.
- Establish strategic procurement and policy arrangements that reduce cyclic costs.
- Incorporate workplace health and safety efficiently and effectively into decision-making.
- Collaborate in whole-of-government saving and debt reduction plans.
Early Childhood and State Schools Division and regions
- Support schools to align their budget to local and system priorities.
- Pursue additional revenue opportunities through equitable user fees and charges, ethical funding sources and stakeholder partnerships.
- Maintain key resourcing policies and promote training to enable accountability and efficiency.
Schools
- Utilise funding to support outcomes for students in the current school year.
- Align the school budget to local and system priorities.
- Use discretionary school funds to give priority to initiatives aimed at improving outcomes for students.
- Undertake proactive infrastructure and ICT asset planning including co-investments with central business units and providers.
Other divisions
- Lead government funding negotiations
- Allocate funding and resourcing
- Promote training to enable accountability and efficiency
Indicators of success
Performance and compliance
- Departmental financial position ($m)
- Meet the agency’s reprioritisation targets ($m)
- Average cost of service per student: primary and secondary ($) (State Budget service performance measure)
- Government expenditure per child on kindergarten ($) (State Budget service performance measure)
- Annual procurement savings ($m)
- Completion of internal Management Foundations Training—finance module (%)
Infrastructure and assets
- Asset utilisation—schools (%)
- Staff, student and parent/caregiver perceptions that their school is well maintained (% agree)
- Asset Consumption Ratio (buildings) (%)
- Asset Sustainability Ratio (buildings) (%)
- School Asset Life Cycle Assessment (ALCA) building condition ratings (%)
- Expenditure on building maintenance as a percentage of replacement cost (%)
- Asset Renewal Funding Ratio (%)
- Average bandwidth in schools (kbps per student)
Resources efficiency
- Departmental proportion of frontline staff (%)
- Electricity grid consumption (KWH hours per annum per student)
- Green energy generation (KWH hours per annum per student)
- School bank account balances per student (% as at 1 January)
We are governed and guided by
Finance, Procurement and Facilities
Phone: (07) 3034 4929
Email:
stateschoolresourcing@qed.qld.gov.au