F – glossary definitions
Please wait while page index is generated
Fringe benefits tax is a tax paid on certain benefits provided to employees or employees' associates. FBT is separate from income tax and is based on the taxable value of various fringe benefits provided.
For example, when:
A committee appointed to assist the principal in areas of finance, budgeting and financial planning for the school.
The FSSC manages multiple financial transactions for schools including:
Financial delegation is an attribute in SAP assigned to a position and indicates the financial approvals limit of a position as per departmental policy. Employees cannot approve transactions above their Financial delegations.
A predetermined timeframe for recording and reporting financial information. School financial year runs from 1 January to 31 December.
An accounting year of twelve consecutive months running from 1/7 to 30/6 for tax purposes.
Acronym derived from Finance In Schools Handbook, the schools finance management manual.
A register of all the department assets.
An estimate of the actual financial outcome for the balance of the current accounting period based on actual performance to date plus budget for the future period and other information available to the budget manager.
If goods/services cannot be found in the online catalogue, school staff can create a shopping cart by describing what they need.
Full-Time Equivalent (staffing).
SAP field used to represent the department funding source.
Source of funding for specific programs eg commonwealth and state.
Supports the management of fund allocation (fund, grant, sponsorship) to a school. Funding management captures the processes for preparing requesting, receiving, monitoring and finalising various fund sources.
The department (DoE) data dimension reflecting the origin of the funding eg commonwealth, state recurrent, etc.