ATTACHMENT B
LDCPDP Fact Sheet - Financial Reports
Background
The Long Day Care Professional Development Programme is a $200 million investment in the
professional development of early childhood educators, with funding provided to over 5,000
services.
To ensure the integrity of these taxpayers’ funds the funding recipients are required to acquit all
payments against the LDCPDP Funding Agreement and Guidelines.
The Department has reduced the scope of this requirement for most grant funding recipients.
Changes to requirements
The terms and conditions of the LDCPDP Funding Agreement state that all funding recipients must
submit audited financial report of income and expenditure in respect of the funding. Consistent with
its commitment to reducing administrative burden, the Department is streamlining acquittal
requirements for our LDCPDP funding recipients. Specifically most LDCPDP grant recipients will only
be required to submit a certified financial report, rather than an audited financial report.
Audited versus Certified financial reports
The majority of operators will have a reduced reporting requirement in the form of a financial report
certified by their chief executive officer, chief internal auditor or appropriate board member.
Only those grant funding recipients with funding agreements with a value over $250,000 (GST excl.)
and those with a higher risk assessment (identified through ongoing compliance activities including
the review of progress reports) will continue to be required to provide audited financial reports.
The department will notify all grant funding recipients of their financial report requirements in early
2016. In the event that the department assesses that additional grant funding recipients reach high
value or higher risk thresholds after the initial advice is provided, the department will also
individually contact those service operators.
Opportunity through learning
Certified financial report requirements
The required documentation for certified financial reports in respect of the grant funding is as
follows:


a detailed statement of income and expenditure that clearly identifies the items that the LDCPDP
grant funding was used for; and
a certificate from your Chief Executive Officer or other authorised office bearer stating that
all Funding received was expended for the Activity and in accordance with the Agreement.
In the event that further evidence is required to satisfactorily acquit the grant funding, the
department will contact grant funding recipients individually as required.
Audited financial report requirements (all funding agreements valued over
$250,000 (GST excl.) plus other identified grant recipients)
The required documentation for audited financial reports in respect of the grant funding is as
follows:


an audited detailed statement of income and expenditure that clearly identifies the items that
the LDCPDP grant funding was used for, which must include:
o a definitive statement as to whether the financial accounts are true and fair; and
o an audit statement that all Funding received was expended for the Activity and in
accordance with the Agreement; and
a certificate from your Chief Executive Officer or other authorised office bearer that all
Funding received was expended for the Activity and in accordance with the Agreement.
In the event that further evidence is required to satisfactorily acquit the grant funding, the
department will contact grant funding recipients individually as required.
Further Assistance
If you require further information you can contact the department by email at
[email protected].
Alternatively, organisations can contact the LDCPDP hotline on 1800 020 212.
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