Independent school briefings: Financial governance and government funding

Practical Financial Governance Skills for Schools

This presentation addresses the financial necessities of operating an independent school and is relevant to the school governance minimum standard. It covers:

  • financial viability
  • attributes of a financially sustainable school
  • accounting
  • school financial performance and related governance practices
  • financial resources
  • working capital (cash reserves)
  • five-year budgets
  • reporting.

About John Somerset

John has over 30 years' experience in chartered accounting. For the past 25 years he has operated a financial benchmarking survey for non-government schools in Australia and New Zealand working closely with the Association of School Business Administrators Ltd.

John holds a Master of Business (Research), Bachelor of Commerce, Graduate Diploma in Applied Finance and Investment and is a graduate of the Australian Institute of Company Directors.

Funding the Education State Ambitions

This presentation focuses on the Victorian Department of Education Training (DET) funding and other tangible support available to non-government schools.

It outlines the conditions and expectations of the Victorian Government and outlines how independent schools receiving government funding should contribute to the Education State ambitions framework.


About Jack Watt

Jack is Manager of the School Operational Policy Unit within DET.

The Unit is responsible for implementing complex projects across government and non-government school sectors, and overseeing non-government school funding policy.

Jack is a former secondary school teacher in the non-government sector. He holds a Masters in Teaching (Secondary) and dual Bachelors in Science/Arts.

For more information about the topics covered in Jack’s presentation, see: