4.5.1 Reporting and accountability
Organisations with a service agreement are accountable for the appropriate use of funding provided, and for the delivery of the services specified in the service agreement.
To ensure accountability, organisations are required to regularly report on their service outputs through data collections and other reporting. This allows the organisation and department to periodically review progress and to adjust the service agreement if necessary.
Details of data collection requirements are located on the Funded Agency Channel and in the Policy and Funding Plans.
To ensure funded organisations remain in a sound financial position, the department collects information about the organisation's finances. This information is reviewed and analysed by the department. To minimise administrative burden, financial information collected is linked to the organisation's legal reporting obligations.
Standard Chart of Accounts
Any requests for financial information from non-profit community organisations by Government must be consistent with the Victorian Standard Chart of Accounts (SCoA) including terminology.
Hospital financial reporting will continue to use the existing Hospital SCoA, and is not impacted by this Victorian Government initiative.
The SCoA is a set of standard accounts which provides a common approach for government when collecting financial information from non-profit community organisations.
The SCoA was implemented by the Victorian Government on 1 July 2010.
The Standard Chart of Accounts and its support materials can be found at http://www.dpcd.vic.gov.au/communitydevelopment/community-sector/victorian-standard-chart-of-accounts