NFPs to benefit from new mandatory Victorian Government SCOA
Thu, 25 February 2010
The Victorian Standard Chart of Accounts (SCOA) will be mandatory for Victorian Government departments and agencies for all new funding agreements with not-for-profit (NFP) organisations.
The Victorian SCOA is a Victorian Government initiative coordinated by the Office for the Community Sector.
The initiative aims to reduce the administrative burden for NFP organisations, which have funding agreements with government departments and agencies, by simplifying requisite financial reporting.
The Office for the Community Sector is holding free training sessions throughout Victoria between mid-March and April for all Victorian NFP community organisations to explain its purpose and practical application.
The Victorian SCOA will be mandatory from 1 July 2010.
The Office for the Community Sector was established in the Department of Planning and Community Development to strengthen and support the not-for-profit community sector.
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