This article is for Schools to understand how the residual grant amount is calculated.
'Residual amount' is the amount of grant funds unspent in the term.
The residual amount will be referred to on your acquittal, on an acquittal outcome email and on an invoice you may have received.
Schools that have a residual grant amount may be asked to return this grant amount to the Australian Sports Commission.
IMPORTANT: This information is for acquittals submitted from T1 2024 onwards
Residual amount - on the acquittal form
In the acquittal process in your Sporting Schools portal, a residual amount (called 'Total Residual Funding') will show on the 'Costs to run program' screen.
This is an estimated residual amount only and is subject to change.
Accepted expenses
When your acquittal is submitted, the Sporting Schools team will assess that each expense on your acquittal is permissible per the program parameters https://www.sportaus.gov.au/schools/schools/funding#spending_and_acquitting_funds.
Expenses which are permissible will be marked as 'Accepted'. Accepted expenses will be included within the residual amount calculation below.
Residual amount calculation
The residual amount is calculated as:
Total Grant paid - (Total accepted expenses (non-equipment)* + Total accepted equipment expenses (capped** at $1,650)*)
*Inc GST
**The equipment cap is explained here Equipment expenses cap explained
Example
Grant paid to school = $2,800
Accepted expenses (non equipment) = $1,000 (inc GST)
Accepted expenses (equipment) = $2,000 (inc GST)
Total residual amount = $150 ($2,800 - ($1,000 + $1,650 (capped)))
GST expense deduction
Where GST is entered for an expense in the acquittal form, the expense amount including GST will be included in the residual cost calculation.