Payment and acquittals
- Recipient Created Tax Invoice (RCTI)
- Shared Services
- Acquittal and Reporting
- Financial Audits
Successful recipients will be notified via email to the nominated schools contact (Principal, Sporting Schools Coordinator and Finance Contact) and schools will receive payment via electronic transfer to the nominated bank account. Please maintain and update your bank details via your Sporting Schools account.
Schools that are not a Government Related Entity (GRE) and are registered for GST, must email a Recipient Created Tax Invoice (RCTI) agreement ( Word Doc 88Kb) to firstname.lastname@example.org, prior to your first grant payment. A RCTI agreement will only need to be submitted once as it covers the duration of your school’s funded participation in Sporting Schools.
At the time of each payment, the recipient will receive a RCTI identifying the GST component of each payment.
Some state and territory departments of education have entered into shared service arrangements. Please note how this may impact on your funding arrangements:
- You may need to follow specific processes to access funding from your department of education;
- You may be subject to a funding schedule due to shared service requirements or processes.
For additional information please contact your state and territory department of education.
Funded schools must complete the ASC acquittal process which also includes additional reporting and evaluation requirements.
Acquitting and reporting is the Australian Sports Commission’s assurance that your school used the funds according to the program parameters and terms and conditions. This is part of all parties’ due diligence obligations.
In some cases, the total funds allocated to your school will not be used and a residual amount will remain. After acquittals are processed, tax invoices for the residual amount may be generated and distributed by the Australian Sports Commission to schools.
If it is identified in the acquittal that funds were unspent or not spent in accordance with the program parameters and funding terms and conditions, a tax invoice for the unapproved expenditure will be generated.
It is important to note:
- Do not return any funds to the Sporting Schools program (or the Australian Sports Commission) until you receive an invoice as it includes payment instructions.
- ASC invoices are to be paid within 30 days either by electronic transfer, cheque or credit card.
- You will not be able to access the grant application form if any invoices (debts) are outstanding.
It’s important to note, that subsequent funding applications will not be processed if any acquittals or invoices are outstanding.
Refer to ‘How do I complete my acquittal?’ for a detailed step by step process.
ASC financial audits require schools to provide full financial details of Sporting Schools expenditure within a specified funding period. Selected schools will be notified by email and have 10 business days to supply full financial details (such as copies of receipts and invoices).
There are four possible outcomes from a financial audit:
- No further action to be taken – details provided complies with Sporting Schools parameters and terms and conditions;
- Invoice for unapproved expenditure or additional unspent funds – details provided include items that are not approved within Sporting Schools guidelines, or the total of provided details equals less than the declaration made in the acquittal;
- Credit applied to an existing residual funds invoice – details provided total more than the declaration made in the acquittal;
- Invoice for the full amount of the grant – if a school does not respond to the audit and submit required documentation, they will receive notification of non-compliance, and an invoice will be raised for the full amount of the grant.
More information about Sporting Schools funding can be found on our Help Centre.