Module 3

Financial Management

Covers revenue streams, CCS and funding, fees, budgets, cash flow and financial reporting, with simple tools committees can use to oversee finances with confidence.

Approx Duration1h
Structure12 Lessons

Financial Management

About This Course

This module equips volunteer management committee members and operational staff with the foundational financial knowledge needed to govern and manage their OSHC service with confidence. Covering everything from understanding revenue streams and the Child Care Subsidy system through to budgeting, cash flow management, and financial compliance, the module provides practical tools and guidance to help committees make informed financial decisions that support long-term service quality and viability.

Learning Objectives

By the end of this module, you will be able to:

  • Understand the financial governance responsibilities of management committees
  • Identify and manage multiple revenue streams including Child Care Subsidy, grants, and parent fees
  • Comprehend Child Care Subsidy requirements and compliance obligations
  • Develop realistic budgets that support high-quality education and care
  • Set appropriate fees that balance affordability with service sustainability
  • Monitor cash flow and identify early warning signs of financial difficulty
  • Read and interpret basic financial statements
  • Ensure financial compliance with funding bodies and regulatory requirements.

Lessons for this module

1. Financial Management Introduction

An overview of the module's purpose and learning objectives, introducing why financial governance matters for volunteer committee members and how this module makes financial management accessible regardless of prior experience.

Approx Duration 5 min
2. Understanding Financial Governance for Education and Care Services

Outlines the committee's core financial governance duties, including oversight, strategic planning, compliance, and risk management, and explains the not-for-profit context that shapes how financial decisions should be made.

Approx Duration 5 min
3. Revenue Streams and Funding Sources

Explores the multiple revenue sources available to OSHC services, from Child Care Subsidy and parent gap fees through to grants and inclusion support funding, and examines the reliability and conditions associated with each.

Approx Duration 5 min
4. The Child Care Subsidy (CCS) System

Provides a detailed explanation of how CCS works, including how subsidy amounts are calculated, the compliance obligations services must meet, and the financial risks that arise when those obligations aren't met.

Approx Duration 5 min
5. Additional Grants and Funding Programs

Covers key supplementary funding programs available to OSHC services, including the Inclusion Support Program, the ECEC Worker Retention Payment Grant, and capital grants, along with best practices for managing grant applications and acquittals.

Approx Duration 5 min
6. Cost Structures for Quality Services

Breaks down the major cost categories for OSHC services, explains what it truly costs to deliver high-quality care, and highlights the common financial mistakes that lead to deteriorating quality or service closure.

Approx Duration 5 min
7. Fee Setting and Pricing Strategies

Walks through a step-by-step methodology for setting fees that balance family affordability with service sustainability, including how to calculate cost per session, analyse family impact, and comply with fee communication requirements.

Approx Duration 5 min
8. Budgeting and Financial Planning

Explains the annual budget development process, the key components of a sound budget, how to use scenario planning to test financial resilience, and how committees should monitor and respond to budget variances throughout the year.

Approx Duration 5 min
9. Cash Flow Management

Explores the difference between profitability and cash flow, how to forecast and manage cash across the year, including during challenging school holiday periods, and the early warning signs that signal a cash flow problem is developing.

Approx Duration 5 min
10. Understanding Financial Statements

Introduces the three key financial statements: the income statement; balance sheet; and cash flow statement, using practical examples to help committee members read, interpret, and ask the right questions about their service's financial health.

Approx Duration 5 min
11. Financial Compliance and Accountability

Covers the financial compliance obligations that come with CCS, grant funding, and record-keeping requirements, as well as internal controls, the annual audit process, and how to manage financial difficulty if it arises.

Approx Duration 5 min
12. Financial Management Conclusion and Next Steps

Summarises the essential principles of sound financial governance and provides a practical roadmap of next steps for both new and experienced committee members to strengthen their financial oversight role.

Approx Duration 5 min