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Data Collections Financial Questionnaire

The Financial Questionnaire (FQ) is an annual financial data collection of information that reports income, expenditure, assets and liabilities from all non-government Australian schools receiving Australian Government recurrent grant funding.

Information entered into the FQ must be extracted from the school entity’s audited financial statements. It is important that a qualified accountant audits the entity’s financial statements, prior to declaring the FQ.

If an entity has multiple functions, the department may request that the entity submits a reconciliation statement which balances the school’s financial information with the entities audited financial statements.

The provision of the FQ is required under Section 36 of the Australian Education Regulation 2013 (the Regulation) and must be declared for each school, by 30 June for the previous calendar year.

The FQ includes income and expenditure for all foundation (the year immediately before year 1) to Year 12 students, whether eligible or ineligible for Australian Government funding under the Recurrent Grants program.

The FQ collects information:

  • To monitor ongoing income and expenditure for each non-government school or system.
  • As it is one of the accountability measures for Australian Government grants paid to schools and Systems in a program year.
  • For use by the department in policy development and financial analysis.
  • To create the My School finance report for your school.  For more information, please refer to the My School website at http://www.myschool.edu.au/.
  • To satisfy Australian Charities and Not-for-profits Commission (ACNC) financial reporting requirements. For more information, please refer to the ACNC website at www.acnc.gov.au/nongovschools.
  • To provide statistical information for national educational publications, reports and national bodies, including:
    • the Australian Bureau of Statistics (ABS)
    • the Australian Curriculum, Assessment and Reporting Authority (ACARA)
    • the Organisation for Economic Cooperation and Development (OECD)

An FQ is required by:

  • All schools with students enrolled during the previous calendar year which received Australian Government recurrent grant funding for these students
  • All system offices
  • All Catholic diocesan offices in New South Wales (NSW) and Queensland (QLD)
  • All collective offices

An FQ is not required by:

  • Schools which commenced (accepted students) after the previous calendar years census date or during the current calendar year.
  • Government Schools

In SchoolsHUB, you can submit your FQ data in two ways. You can either enter data into each FQ reporting field manually or you enter all information at once by using a template excel file through the upload data tool. To access FQ reporting:

Step 1: Open the SchoolsHUB homepage, click Sign in.

Step 2: Enter your email or user name and password, click Sign in,

Step 3: In the Data collection progress table on your SchoolsHUB user dashboard, click Financial Questionnaire.

Step 4: The Financial Questionnaire will open on the My organisations tab. Next to this is the Data Upload tab.

Manual Reporting

To begin manually entering your data in each FQ data field, click on the schools name you wish to report on and click start. This will lead you into the manual FQ data reporting fields.

Data Upload

To upload your data, click on Data Upload tab. The instructions on this page provide appropriate templates for either single school cash or accrual based accounts and multiple school bulk uploads. For more information about the data upload tool, download and read a copy of the SchoolsHUB data upload factsheet.

Before you begin your FQ reporting, you will need to obtain certain documentation and information.

To find out more about what you will need to complete an FQ and what may have changed from the previous year’s collection, download a copy of the Before you begin factsheet.

All non-government schools are required to electronically submit and declare their FQ by 30 June annually.

Note: Systemic schools may be required to submit their school’s FQ by an earlier deadline for scrutiny by their system/diocese office.

All FQ financial data must relate to the previous calendar year. For example, FQ data for 2019 must refer to 1 January to 31 December 2018.

All income received and expenditure incurred by the operating school to provide educational activities for students. Other non-school related income and expenditure is also captured in a summarised form. The information submitted in the FQ must be sourced from independently audited financial statements.

Schools must have their financial records audited annually by a qualified accountant prior to reporting their FQ.  Schools are to source their reporting information from these audited accounts and upload a copy of the audited financial statements to enable the user to declare the FQ.

The FQ consists of the following data entry pages:

1. Contacts

2. Getting started

3. Enter data

  1. Recurrent income
  2. Recurrent expenditure
  3. Capital income
  4. Capital expenditure
  5. Trading activities
  6. Loans
  7. General financial items
  8. My School

4. Review

5. Declaration

Note: The data entry pages shown will vary depending on a user’s access level. 

Throughout the FQ collection there are multiple blue ? icons. By clicking on these ? icons, detailed information about that section or question will be shown.

If you would prefer to view a document containing all of the sections and question help, download a copy of the Financial Questions Instruction Guide

There are two accounting methods – Cash or Accrual.

Cash

The Cash accounting method recognises income when revenue comes in, and expenses are recognised when paid.

All financial period transactions resulting in cash outflow are expenses. All financial period transactions resulting in cash inflow are revenue.

Accrual

The Accrual accounting method records revenues when they are earnt and expenses are reported in the period they occur or when they expire – which is often in a period different from when the payment is made.

Accrual accounts include:

  • Accounts receivable
  • Accounts payable
  • Provision for doubtful debts
  • Bad debts
  • Amortisation
  • Depreciation

Reminder

Accounts prepared and audited on an accrual basis must be reported on an accrual method, except for Commonwealth Recurrent Grants revenue at RI.100 which are to be reported on a cash basis.

Requirements

  • Schools incorporated under the Corporations Act 2001 are required to use the accrual accounting method.
  • Schools incorporated under State legislation or other Acts of Parliament (for example, the relevant State Associations Incorporation Acts) should consider whether any other governing legislation exists that requires them to use a particular method of accounting.

If in doubt, please talk to your accountant and/or auditor.

Financial reporting obligations under the Australian Charities and Not-for–profits Commission Act 2012 (the ACNC Act) should also be fulfilled. There are transitional reporting arrangements available for financial reporting requirements. Please refer to the ACNC website at www.acnc.gov.au/transitionalreporting

Non-reporting entities

If you consider yourself to be a non-reporting entity under Australian Accounting Standards, the minimum accounting standards to be used are outlined in the Australian Securities and Investments Commission (ASIC) guide.

For more information about reporting requirements for non-reporting entities, visit the ASIC website at www.asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-85-reporting-requirements-for-non-reporting-entities/

To confirm whether your entity is registered with the ACNC as a charity, visit the ACNC website at www.acnc.gov.au/charityregister

Schools must ensure the FQ values reported clearly reconcile to the school’s audited financial accounts. If the school’s accounts have been created using the department’s Chart of Accounts (CA), use the CA as a reconciliation tool to assist in completing the FQ.

Australian Government grants may be withheld until the department acknowledges that the FQ data is satisfactory and a copy of the audited financial statements has been uploaded onto the school contact and auditor details page of the FQ.

Upon completion of the FQ, an authorised signatory, acting on behalf of the approved authority of the school, must declare the FQ data by stating that:

  • The information provided in the FQ is true and correct and has been sourced from independently audited financial statements/accounts at either, the entity level of the school or in the case of Systems, at the school, diocese or System level.
  • The school has satisfactory internal accounting Systems, controls and procedures for records to be maintained as set out in Section 36 and 37 of the Regulation.
  • The department will consider the disclosed information in determining if the school meets the basic requirements as set out in Section 75 of the Australian Education Act (2013).
  • An authorised signatory of the approved authority understands that giving false or misleading information is a serious offence.

For My School finance reports, the completion of the FQ declaration by the signatory confirms the school’s FQ data is ready for submission to ACARA for publication onto the My School website.

The FQ report captures all income received and expenditure incurred in operating the school and providing educational activities for students.

For the purposes of the FQ, ‘activities for students’ are those activities which meet any of the following criteria:

  1. The activity related with any course of study undertaken at the school, irrespective of when the activity is held during the school year.
  2. The activity (voluntary or compulsory) is organised by the school (staff or students), or on behalf of the school, and is recognised by the school’s community as a service or activity offered by the school for the educational, physical, personal, social or cultural development of its students, irrespective of when it is held during the school year.

    This includes activities such as music tutoring, sport, school newsletters, formal graduation ceremonies, personal development and any self-defence activities.

  3. All excursions and trips organised under the sponsorship of the school, by the school or any other individual or organisation, which are done:
    • during the school’s designated term-time, either during or outside normal school hours
    • outside the school’s designated term-time but which relate directly to courses of study offered at the school that contribute to the educational, physical, personal, social or cultural development of its students.

When reporting current or non-current liabilities into the General Financial Information page, make sure to include all GST liabilities. Items can only be sourced from the balance sheet within the audited financial statements.

Activities that are not part of school education are recorded in the FQ in a summarised form.

Reporting Excursions

Most excursions qualify to be included in the FQ.

Report income collected separately for excursions under Item RI.020 - Income from Excursions/Trips.

Report income collected for excursions as part of school fees (not separately identifiable) under:

  • Item RI.010 – Fees and Charges (excluding Overseas Students)
  • Item RI.050 – Total Income from Overseas Students

Report all excursion expenditure under Item RE.080 – Operating Expenses.

There are some items that should not be reported in the FQ. Exclude from your reporting: 

  1. All GST amounts with the exception of GST liabilities owed to the Australian Tax Office (ATO).  Report GST liabilities on the FQ General Financial Information page.
  2. Money received by the school from, or on behalf of, its students which is passed on in full to a third party for the delivery of goods or services unrelated to activities defined above.
  3. This may include banking for students, school photos, book clubs, students’ insurance premiums, mission collections or other recognised charitable organisations and donations to P&Fs, school building funds and foundations.
  4. Money the school receives from organisations, including government agencies, which the school passes on in full to third parties and does not benefit the school or fund its operations, for example, paid parental leave funds from the Department of Human Services which are given in full to staff where the school is acting only as an agent.
  5. Money held by the school on behalf of the parents of boarding students to cover costs incurred by the school in acting as the student’s guardian (i.e. in loco parentis), including to cover the cost of recreational activities organised by the school solely for boarders.
  6. Costs associated with building maintenance, other school structure, furniture, fittings or equipment funded by a claim on an insurance policy. The exception is where monies received from the claim are insufficient to cover the full costs of the reconstruction. Include only the extra construction expenses/costs incurred in the FQ.
  7. Revaluations of land and buildings or other relevant capital items are not stated as income or expenditure. Revaluations can either increase or decrease the value of the asset and should be stated on the FQ General Financial Items page as sourced from the entity’s balance sheet.

Who is an Overseas Student?

An overseas student is a person allowed to travel to Australia to study as defined in Section 6 of the Australian Education Act and Section 6 of the Australian Education Regulation.

  • An overseas student is the person who holds a visa in force under the Migration Act 1958 that permits the person to travel to Australia for the purposes of undertaking a course provided by a body,
  • the person is included in such a visa in force under that Act;

A student is reported as an overseas student in the school’s census if the visa they hold specifically relates to studying in Australia (or a bridging visa attached to a substantive visa with those provisions).

Only students who are the primary visa holder, or a dependent of the primary visa holder, where the visa is issued for the purposes of study are ‘Overseas Students’.

Overseas student visa subclasses include 500, 570, 571, 572, 573, 574, and 575.

Overseas students do not include:

  • Dependents of a person who is receiving a full sponsorship or scholarship to one of the institutions mentioned in the Higher Education Support Act 2003. The sponsorship or scholarship has to meet the full cost of the education component of the course,
  • A person or dependent of a person who is receiving a sponsorship or a scholarship from the Commonwealth, or
  • Students who are studying in Australia under a student exchange program registered by the state or territory.

For further information on the conditions of a visa sub-class (to determine if they meet the meaning of ‘Overseas student’, search the visa subclass in the Department of Home Affairs website at http://www.homeaffairs.gov.au/.

Who is responsible for the cost of an Overseas Student?

Overseas students are responsible for the cost of their own education and do not attract Australian Government recurrent assistance funding under the Act.

Report all income and expenditure from overseas students under:

  • Item RI.050 – Total Income from Overseas Students (if funds are for recurrent purposes)
  • Item CI.040 – Capital funds received from Overseas Students (if funds are for capital purposes).

The FQ Verification Exercise (FQVE) is a quality assurance process. Each year, the department selects a number of individual schools to verify and declare that the information provided in their FQ is accurate.

The FQVE assesses the schools FQ reporting against their audited financial statements and requires schools to prepare a reconciliation spreadsheet. The reconciliation spreadsheet balances items reported in the individual schools FQ to the schools approved authorities audited financial statements.

Systemic Schools

A systemic school selected for the FQVE must prepare an extra reconciliation spreadsheet to balance items reported in to the individual schools FQ to the systems audited financial statements.

Requirements

Reconciliation spreadsheets should be prepared according to FQ Instructions to ensure amounts are entered against the correct FQ items. Documentation used to prepare the reconciliation statements should be kept for future reference to be provided to the department if requested.

Accuracy

If the FQVE shows that data reported in the FQ does not reconcile with the audited financial statements, the school will be required to explain the reasons for the difference(s) and/or amend the data.

Note: The school may also be selected again for the exercise the following year to ensure that correct procedures have been followed.

You can access a preliminary My School report populated with the responses from your 2018 FQ data collection through SchoolsHUB. Only the amounts reported for tuition (and system and diocese where applicable) are included. Boarding is excluded under the My School finance data collection methodology.

The preliminary report is provided as a guide only. It mat not include possible allocations of expenditure incurred by third parties, which are required under the methodology such as those incurred by Block Grant Authorities for administering government capital grant Programs to schools for Catholic independent, non-Catholic systemic and non-systemic independent schools. ACARA will include these amounts prior to publishing the finance report on the My School website.

Per student amounts are calculated using the number of FTE from the Friday 4 August 2018 school census.

Total deductions from gross income should not exceed the school’s privately sourced income unless the school has documentation that shows it is able to use government grants for capital purposes. For further information, refer to the note under MS.100 in these instructions.

FQ items mapped to My School finance reports

The table below maps individual FQ items that relate to each My School reporting category as shown in the preliminary My School report.

Recurrent income

Reporting categories

2018 FQ Items included in calculations for the 2018 reporting year

Commonwealth recurrent funding for schools (R1)

  • +RI.100 (Commonwealth   recurrent funding for schools. Grants made under the Australian Education Act 2013)
  • +RI.110 (Indigenous Education Grants from other Commonwealth Agencies)
  • +RI.120 (All other Commonwealth government recurrent grants)

State/Territory Government recurrent funding (R2)

  • +RI.070 (State/Territory government recurrent grants)
  • +RI.080 (State/Territory government education allowances)
  • +RI.090 (State/Territory government interest subsidy)

Fees, charges and parent contributions (R3)

  • +RI.010 (Fees and charges (excluding Overseas students)
  • +RI.020 (Income from excursions/trips)
  • +RI.030 (Other receipts from students)
  • +RI.040 (ABSTUDY Allowances paid direct to school)
  • +RI.050 (Total income from overseas students)
  • +CI.030 (Fees/levis allocated for capital purposes)
  • +CI.040 (Capital funds received from overseas students)

Other private sources (R4)

  • +TA.010 (Income on trading activities)
  • -TA.020 (Expenditure on trading activities)
  • = If less than 0, use 0. If greater than or equal to 0, use the result
  • +RI.060 (Private income)
  • +RI.061 (Investment income)
  • +RI.065 (Donations)
  • +CI.050 (Other capital income)
  • +CI.055 (Donations for capital purposes)

As described in the above calculation, only the profit component of ‘Trading activities’ is added to ‘Private income’ and ‘Other capital income’ for the calculation of the My School reporting category ‘Other private sources’.

Total gross income (excluding income from government capital grants) (RG)

  • RG = (R1+R2+R3+R4)

Deductions

Reporting categories

2018 FQ Items included in calculations for 2018 reporting year

Income allocated to current capital projects (D1)

  • + MS.050 (Amount of private capital income (a component of the sum of CI.030, CI.040, CI.050 and CI.055) spent on capital expenditure in the current year and reported at CE.030)

Income allocated to future capital projects and diocesan capital funds (D2)

  • +MS.060 (Amount of private capital income (a component of the sum of CI.030, CI.040, CI.050 and CI.055) allocated to capital expenditure in future years)

Income allocated to capital debt servicing (including principal repayments and interest on loans) (D3)

  • +RE.110 (Interest – Capital and bridging loans and finance leases)
  • +LN.060 (Principal repayments on capital loans)
  • -MS.100 (Amount of principal and interest repayments for capital purposes (identified at LN.060, RE.110) funded from gains on sale of assets, loan refinancing, cash reserves and/or government capital grants)

Total net recurrent income (RN)

  • RN = RG-D1-D2-D3

Capital expenditure

Reporting categories

2018 FQ Items included in calculations for 2018 reporting year

Australian government capital expenditure (C1)

  • +MS.010 (Commonwealth government capital grants received in the 2018 program year (identified at CI.010) that were spent and recorded as capital expenditure in the 2018 program year)
  • +MS.020 (Commonwealth government capital grants spent and recorded as capital expenditure in the 2018 program year where the grant was received in a year other than the 2018 program year)

State/Territory government capital expenditure (C2)

  • +MS.030 (State/Territory government capital grants received in the 2018 program year (identified at CI.020) that were spent and recorded as capital expenditure in the 2018 program year)
  • +MS.040 (State/Territory government capital grants spent and recorded as capital expenditure in the 2018 program year where the grant was received in a year other than the 2018 program year)

New school loans (C3)

  • +MS.090 (Amount of capital expenditure in the 2018 program year that was funded by drawdowns (identified at LN.070) from capital loans)

Income allocation to current capital projects (C4)

  • As per D1

Other (C5)

  • C5 = CE.030-C1-C2-C3-C4

Total capital expenditure (CE)

  • CE.030 (Total Capital Expenditure)

Note: Two additional questions (MS.070 and MS.080) are also included in the FQ to provide a data quality control measure to ensure the accuracy of amounts reported at MS.050 and MS.060.

The table below maps individual FQ items that relate to the relevant ACNC financial information category as shown in the ACNC – Preview page.

The additional display page has been updated for the 2019 (2018 data) FQ for schools that opted to report to the ACNC.

  • The page contains basic information on the ACNC reporting process
  • The ACNC – Preview page, will appear for schools (including systemic schools) that are registered charities reporting to the ACNC
  • For FQ items mapped to the ACNC, the school’s FQ data will be provided for publication on the Finance Section of the 2018 Annual Information Statement (AIS). Note – if a school opts out from the streamlined reporting arrangement by completing the Finance section voluntarily in the 2018 AIS, the mapped FQ data will not be used
  • Additional FQ items are introduced to enhance and improve the data mapping for ACNC reporting purposes
  • For systems that report to the ACNC on behalf of their member schools, the ACNC – Preview page will appear at the system level which aggregates the data for member schools that are not individually registered with the ACNC. Note – this means the page will appear in the system or diocese FQ and not in the school FQ
  • The ACNC – Preview page will not appear for a non ACNC registered entity. However, where an entity is registered with the ACNC but cannot view the Preview page, the ACNC will contact these entities directly for an alternative reporting solution.

Comprehensive income statement summary

Gross income

Category

Items

 

a: Revenue from government including grants

RI.070 and RI.070B – State government recurrent grants

RI.080 – State government education allowances

RI.090 and RI.090B – State government interest subsidy

RI.100 - Commonwealth government general recurrent grants program

RI.110 and RI.110B – Indigenous education grants

RI.120 and RI.120B – All other Commonwealth government recurrent grants

CI.010 and CI.10B – Commonwealth government capital grants

CI.020 and CI.020B – State government capital grants

RI.040 and RI.040B – ABSTUDY allowances paid direct to the school

 
 

b: Donations and bequests

RI.065 and RI.065B – Donations

CI.055 and CI.055B – Donations for capital purposes

 

c: Revenue from providing goods or services

RI.010 and RI.010B – Fees and charges

RI.030 and RI.030B – Other receipts from students

RI.050 and RI.050B – Total income from overseas students

CI.030 and CI.030B – Fee/levies associated for capital purposes

CI.040 and CI.040B – Capital funds received from overseas students

TA.010 and TA.010B – Trading activities income

TA.030 and TA.030B – Income not already captured in FQ

 

d: Revenue from investments

RI.061 and RI.061B – Investment income

 

e: Other revenue

RI.020 and RI.020B – Income from trips and excursions

RI.060 and RI.060B – Private income

 

g: Other income

CI.050 and CI.050B – Other capital income

 

i: Employee expenses

RE.010 – Executive – Senior executive staff salaries

RE.020 – Executive – Inspectors and superintendents

RE.030 and RE.030B – Principal, general teaching staff – lay and religious

RE.040 and RE.040B – Salaries all other staff

RE.050 and RE.050B – Other staff related expenses

RE.060 and RE.060B – Superannuation (employer contribution only)

RE.070 and RE.070B – Long service leave

 

j: Interest expenses

RE.100 and RE.100B – Interest – Bank overdraft and recurrent loans

RE.110 and RE.110B – Capital and bridging loans and finance leases

 

m: All other expenses

RE.080 and RE.80B – Operating expenses

RE.090 and RE.090B – Buildings and grounds – operations, building and equipment maintenance

RE.120 and RE.120B – Amortisation – Leasehold land and building and assets

RE.130 and RE.130B – Depreciation

RE.140 and RE.140B – Total bad and doubtful debts expense

TA.020 and TA.020B – Trading activity expenditure

RE.085 and RE.085B – External management fees

RE.095 and RE.095B – Rent and lease expenses

TA.040 and TA.040B – Expenditure not already captured in FQ

 

Balance sheet

Assets

Category

Items

r: Total current assets

GF.020 – Total current assets (including data from GF.010)

s: Non-current Loans:

Receivables

GF.035 – Non-current loans receivable

t: Other non-current assets

+GF.040 – Total non-current assets

-GF.035 – Non-current loans receivable

Liabilities

Category

Items

w: Total current liabilities

GF.030 – Total current liabilities

x: Non-current Loans:

Payable

GF.045 – Non-current loans payable

y: Other non-current liabilities

+GF.050 – Total non-current liabilities

-GF.045 – Non-current loans payable