R – glossary definitions

R glossary

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RAM (Resource Allocation Model)

A means of allocating funds to schools in an equitable way, taking into account the unique characteristics of students and school communities. Refer to the Local Schools Local Decisions Resource Allocation Model.


A numbered document recording the details of a sum of money that has been paid.

Recipient created tax invoice (RCTI)

RCTI is a tax invoice that is issued by the receiver of the goods and/or services rather than the supplier. Please note that the RCTI is issued instead of a tax invoice. An RCTI must not be issued if the supplier has already issued a tax invoice. A manual process would need to be followed to issue such a receipt.


Matching, checking and verifying process.

Recurrent funds

Funds provided to schools by the department and used to cover ongoing human resources and operating expenses.


To return or repay money.

Register of Financial Items

A register to record details of the school’s stocks of accountable records, information on important financial controls and details of key financial transactions.


Refers to an officer whose duties include the maintenance of financial and administrative records associated with schools with residential agricultural facilities.


The process of claiming or refunding money for expenses incurred.

Rejected transaction

In reference to banking, a rejected transaction refers to a transaction that cannot be completed due to incorrect information such as BSB or account number.

In reference to credit cards/PCards, a rejected transaction is when the authoriser rejects the claim and returns it to the cardholder.

In reference to shopping carts, a rejected transaction is where items requested for purchase are not approved through the workflow process.

Reportable fringe benefits amount (RFBA)



School staff submitting a request via the SAP Portal.


Any physical equipment, teaching space and personnel used to deliver teaching and learning.

Retained earnings

Funds (retained) from one financial year to another.

Returned transaction

A transaction returned by another financial institution due to an issue with the bank details provided by the customer/vendor (occurs from day 1 onwards).

Revenue (or Income)

This is the income received from RAM allocations, contributions, funding, and any sales that are made.  For example, general school contributions, hire of facilities, excursions. Commercial revenue is recognised in SAP when a customer invoice is generated.


School staff member that is set up with a reviewer role (eg SAM) to review order detail and add commentary. A reviewer does not have authority to approve.

Risk management

Is broadly defined as the identification, measurement and control of all loss exposures.


The rounding (up or down) of an amount eg $0.98 is rounded to $1.00, $0.52 is rounded to $0.50.

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