With the end of the federal government’s funding model for education, Victoria’s public schools have been able to start their own funding models and open up their own classrooms to allow them to compete with local schools for funding.
The State Government’s new funding model has opened up this new funding space for Victoria’s children to compete for funding, with schools having the opportunity to offer the most affordable and innovative learning environments in the state.
However, the new funding system also means that Victorian schools will now need to meet the national funding model of $50 million a year to maintain their funding.
What’s more, the State Government is now going to require all Victorian schools to submit their own annual financial forecasts for the coming financial year.
This has led to a heated debate in Victoria, with some questioning the validity of the new modelling and others arguing that this new model is a positive step towards better funding.
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The federal government is providing $10 million to the state of Victoria for the school funding system to transition from the current model to a new model that’s much more cost effective.
But the funding model is set to come into force next year and will require schools to meet a new set of standards, with Victoria’s education minister, David Chifley, warning that schools will not be able to receive any extra funding from the Federal Government without also meeting these new standards.
“The funding model that we are now seeing is very different to the model that was in place before we moved to a model that is much more sustainable, sustainable and that is aligned with the principles of a competitive, efficient and cost effective system,” Chifleys said.
“I believe we are seeing an opportunity to really change the funding system for Victoria.”
In a statement, Chif, the minister for education said the new model would allow Victoria to attract better and more competitive providers.
“It’s also a way to improve the delivery of state and territory schools,” he said.
As we continue to explore the options for the state and territories, it is important that we work with all stakeholders to develop a fair and effective framework that ensures all Victorian children are receiving a high quality education.”