For over 27 years, Somerset Education has been dedicated to the financial sustainability of non-government schools. Our budgeting, reporting and benchmarking tools help identify areas to enhance performance and enable school management and boards to make informed financial decisions with confidence.
Commencing this year, Somerset Education is pleased to provide expert assistance to Queensland Independent schools to support capital grant applications with the Queensland Independent Schools Block Grant Authority (QIS BGA). In 2023 the QIS BGA provided financial assistance of $76.6 million across 41 schools representing an average grant of $1.8 million or 28.8% of project cost.
Capital Grant Application Assistance
Somerset Education can assist with the preparation or review of applications in accordance with Australian and State government program guidelines. This help schools to:
- Ensure the project aligns with minimum viable project principles
- Develop project justification documentation
- Develop multi-year budget models
- Assess the financial capacity of the school
- Determine the requested capital grant in support of the project.
Irrespective of what budget model you use, Somerset Education’s new SKI Scenario Builder™ forecasting tool can support capital expenditure, funding and borrowing decisions that form part of the BGA application and assessment process. Our multi-year budget model is also be available as required.
🎬 SKI Scenario Builder™ | Link to video
Somerset Team Experience
John Somerset | John is a Fellow of Chartered Accountants Australia and New Zealand (FCA) with qualifications in Commerce plus a Master of Business by Research on the topic of school financial sustainability. John has over 37 years’ experience in chartered accounting with the past 27 years focused on the Independent Schools sector including benchmarking, financial analysis and governance.
David Reed | David is a Fellow Certified Practicing Accountant (FCPA) with qualifications in Business, Finance and Accounting plus a Master of Business Administration. David has over 11 years’ experience as a school Business Manager including a concurrent role on the finance advisory committee of ISQ BGA for five years.
Next Steps
If you would like Somerset Education to support or review your 2024 Round Application before Section 1 of the Application closes on Wednesday 1 March 2024, please contact:
John Somerset | via email john@somerseteducation.net or phone 0417 618 899
David Reed | via email david@somerseteducation.net or phone 0412 262 877
Q | Any questions?
For more information about the FSS or our budgeting and reporting tools, please do not hesitate to contact Cathy or Jessica at survey@somerseteducation.net or call 1300 781 968 (from outside Australia +61 7 3263 5300).
If I can help in any way with the financial governance of your school, please contact me at john@somerseteducation.net or mobile 0417 618 899.
We look forward to your ongoing support, or if new to the survey, we warmly welcome you joining in.