More funds for Victorian public schools

THE Federal Government has agreed to provide an additional 5 per cent of the Schooling Resource Standard (SRS) to Victorian public schools.

The SRS is an estimate of how much total public funding an individual school needs to meet its students’ educational requirements. It is based on recommendations made in the 2011 Review of Funding for Schooling and is made up of a base amount and up to six needs-based loadings.

The Department of Education calculates an SRS for each school every 12 months by adding the base amount and loadings it has calculated for the particular school using the formulas in the Australian Education Act 2013.

The new agreement means the Commonwealth’s contribution will rise from 20 per cent to 25 per cent of the SRS by 2034, which means the schools will receive about $2.5 billion in additional funding over the next 10 years.

Federal Member for Bendigo Lisa Chesters said the agreement demonstrates how her government is investing in public schools to create a better and fairer education system.

“Every school student in the Bendigo electorate deserves access to a quality education,” she said.

“This landmark funding agreement will help improve our local schools and boost outcomes for students.”

State Member for Bendigo West Maree Edwards said there is no better place to get a world-class education than at a Victorian public school in Bendigo. “This funding agreement is a win for our students and teachers and ensures that our local public schools get their fair share,” she said.