Financial viability
A registered non-government school must be financially viable.
Under section 47(a1) of the Education Act, a registered non-government school must be financially viable.
Financial viability provides for the school to be administered and achieve the purpose of providing an education for school students whilst remaining financially solvent.
In considering the financial viability of a registered non-government school that is a member of a registration system, NESA will have regard to the same guidelines that apply to an individual registered non-government school that are detailed in the NESA Registered and Accredited Individual Non-government Schools (NSW) Manual.
Evidence of compliance
The proprietor of a systemic non-government school is required to maintain evidence to demonstrate the current financial viability of the school at the time of making an application for initial or renewed registration. The required evidence of financial viability is prescribed by NESA and is to be in the form of a certification or warrant by the registration system ro another body or person approved by NESA4 for that purpose.
The proprietor of a systemic non-government school is required to maintain evidence
relating to the member schools of the registration system of either a:
- Certification of Financial Viability from the registration system authority or another NESA approved body or person assessed against the NESA Financial Viability Framework, or
- a Financial Viability Warrant from the registration system authority or another NESA approved body or person providing assurance of financial viability. The NESA Certification of Financial Viability, Financial Viability Framework and the Financial Viability Warrant are published on the NESA registration website RANGS.
4Approved bodies and persons for the purposes of financial viability certification or warrants and
other materials relating to financial viability are published on the RANGS website.