The Schooling Resource Standard (SRS) funding model is the current Australian Government needs-based funding model.
The SRS funding model is largely based on recommendations from the Gonski Review of Funding for Schooling. The aim is for every student, regardless of their background or personal circumstances, to have access to a high-quality education.
Independent schools’ ability to plan based on sound assumptions regarding future school funding is a key component in ensuring schools remain well-managed, sustainable and financially viable. Ensuring this outcome should be a shared goal of schools, education authorities and governments.
The current SRS funding model, and the associated Direct Measure of Income (DMI) Capacity to Contribute (CTC) methodology for calculating base funding, is a complex model which is far more responsive to change than previous models. While this is in many ways viewed as a positive, it has had the unintended side effect of making it extremely difficult for schools to estimate future funding and plan accordingly.
This guide to the SRS funding model is intended to assist schools to understand the multiple elements of the SRS funding model and to plan accordingly.