The Financial Accountability (FA) module allows approved authorities in receipt of recurrent funding to meet their requirements under the Australian Education Act 2013 (the Act) and Australian Education Regulation 2013 (the Regulation).
The FA requirements consist of an Acquittal Certificate for all approved authorities and a Block Allocation report for approved authorities that operate more than one school.
The 2016 FA requirements must be completed on or before 30 June 2017.
Approved Authorities are required to have their qualified accountant submit an Acquittal Certificate to confirm that the funding received for the relevant period, usually the preceding calendar year, has been spent or committed to be spent for the purpose for which it was granted.
The ‘qualified accountant’ role in SEP is required in order to submit an Acquittal Certificate.
If you have the ‘finance contact’ role in SEP at the approved authority level, you can only view the status of the current and previous Acquittal Certificates.
Approved School Systems and other Approved Authorities that operate more than one school are required to submit a Block Allocation report.
The Block Allocation report outlines how funding was distributed to each member school and how much funding, if any, was retained for administration costs and/or centralised expenditure. The amount allocated to schools and the funding retained must equal the amount on the Acquittal Certificate.
The ‘finance contact’ role in SEP at the approved authority level is required in order to submit the Block Allocation.
The School Entry Point User Guide for Financial Accountablity provides information to assist accountants, auditors and relevant finance officers to complete the Financial Acquittal process within the School Entry Point (SEP) system.
The Acquittal Certificates - a guide for qualified accountants provides information about the most frequently asked questions about use of funds, funding committed to be spent and definition of a qualified accountant for the purposes of Financial Accountability.
If you have any enquiries regarding the Financial Accountability requirements, please call our toll free number 1800 677 027 (option 2) Monday to Friday 9am-5pm AEST or email email@example.com.
For technical assistance (including assistance with logons and passwords), please contact the Schools IT Support Centre on 1800 677 027 (option 1) Monday to Friday 9am-5pm AEST or email firstname.lastname@example.org.
Last modified on Tuesday 14 February 2017 [19|6166]