Chart of Accounts Codes Account/Transaction Description Tuition Boarding State Government Interest subsidies 0675 0675 Commonwealth Government Recurrent Grants Important – Catholic Systemic schools should seek advice from their System Office prior to completing these items. Note: If your accounts were prepared and audited on an accrual basis you must report using the accrual method in the FQ - you must not report on a cash basis. EXCEPTION - reporting of Australian Government recurrent grants. Australian Government recurrent grants should be counted in the FQ in the year the grants are received by the school. This treatment is for FQ reporting purposes only. All grants should be handled in line with the current accounting standards when preparing the audited financial statements. Item RI.100 – Commonwealth Government General Recurrent Grants Programme Note: This item will be used to calculate your My School finance report All recurrent funding received by the schools approved authority under the Australian Education Act 2013 will be entered here. Including: General Recurrent – Schooling Resource Standard (Base SRS funding amount) General Recurrent – Student with disability loading General Recurrent – Aboriginal and Torres Strait Islander loading General Recurrent – Low-socioeconomic status student loading General Recurrent – Low English proficiency loading General Recurrent – Location loading General Recurrent – Size loading General Recurrent – Other funding for schools – includes special circumstances and funding in prescribed circumstances Note: Every school should show an amount entered against RI.100. System (and Catholic Dioceses in NSW and QLD) Offices should only report in the office FQ, the portion of grants retained in accordance with the exclusions set out in the FDWG Financial Data Reporting Methodology (refer to page 10 for more details). Chart of Accounts Codes Account/Transaction Description Tuition Boarding Schooling Resource Standard (SRS) plus loadings 0600 to 0609 N/A Item RI.110. – Indigenous Education Grants (excluding grants paid under the Australian Education Act 2013) Note: This item will be used to calculate your My School finance report. Indigenous recurrent funds received from other Commonwealth Departments should be entered here.
Chart of Accounts Codes Account/Transaction Description Tuition Boarding Depreciation – Buildings 2710 2710 Depreciation – Furniture and Fittings 2720 2720 Depreciation – Plant & Equipment 2730 2730 Depreciation – Motor Vehicles 2740 2740 Item RE.140 – Total Bad and Doubtful Debt Expenses (Accrual Accounting Only – schools using cash accounting should leave this item blank) Include all amounts expensed to provide for any school fees that may not be collected. This amount is normally found in the profit and loss segment of the audited financial statements. Chart of Accounts Codes Account/Transaction Description Tuition Boarding Bad & Doubtful Debts Expense 2840 2840 Totals The sum is automatically calculated – you are not required to enter an amount here. Item RE.150T – Total Recurrent Expenditure - Tuition This is the sum of Items RE.010T to RE.140T. Item RE.150B – Total Recurrent Expenditure - Boarding This is the sum of Items RE.010B to RE.140B. Please check these totals to ensure you have entered all relevant amounts. Capital Expenditure Capital expenditure is the amount by the school during the year on capital assets. Capital expenditure is incurred because school’s need to: acquire an additional asset and prepare it for its proposed use by the school; replace an existing major asset; substantially improve or upgrade an existing asset; or make substantial additions to an existing asset. Cash Accounting: the capital expenditure should equal the amount recorded in the relevant capital expenditure accounts in the school’s financial statements. Accrual Accounting: the amounts disclosed for capital expenditure in the financial statements may be set out under the ‘additions and disposals’ headings in the Property, Plant and Equipment Section of the balance sheet.
Other Loan for Recurrent Purposes Closing Balance – Current 8075 8075 Other Loan for Recurrent Purposes Closing Balance – Non-Current 8575 8575 Please note: The loans entered into LN.030 – LN.040 are for recurrent purposes only, e.g. overdrafts used for ongoing school administration or operations. Loans for Capital purposes and Finance Lease Liabilities Item LN.050 – Opening Balance Report the balance of capital and bridging and finance leases as at the beginning of the calendar year Chart of Accounts Codes Account/Transaction Description Tuition Boarding Bank Loan for Capital Purposes Opening Balance – Current 8060 8060 Bank Loan for Capital Purposes Opening Balance – Non-Current 8560 8560 Other Loan for Capital Purposes Opening Balance– Current 8080 8080 Other Loan for Capital Purposes Opening Balance – Non-Current 8580 8580 Bridging Loan for Capital Purposes Opening Balance – Current 8090 8090 Bridging Loan for Capital Purposes Opening Balance – Non-Current 8590 8590 Finance Liability Opening Balance – Current 8150 8150 Finance Lease Liability Opening Balance – 8710 8710 Item LN.060 – Capital and Bridging Principal Repayments Note: This item will be used to calculate your My School finance report Include all principal repayments related to loans reported under Items LN.050 to LN.080. Chart of Accounts Codes Account/Transaction Description Tuition Boarding Principal Repayments – Bank Loans 9520 9520 Principal Repayments – All other Loans 9530 9530 Principal Repayments – Bridging 9540 9540 Principal Repayments – Finance Lease Liabilities 9550 9550 Item LN.070 – Capital and Bridging Loans Drawdowns