Annual Financial Statements

Again, we would say thank you to all the schools who kept the end of year information rolling in by the due dates via the Portal.

This is the third year of using the online portal. We welcome any comments regarding this (the use of and the information provided) as well as comments / suggestions on the Financial preparation process.

Time to start saving documents for 2019.


When your Board approves the Operating Budget please ensure the Board Minute includes the Budgeted Surplus figure (we don’t do deficits). This greatly assists us and the auditor to know the budget provided with the Financial Statement documentation is the Approved Budget.

Prior to filing each GST Return, please use the GST Reconciliation Report to ensure the figures are correct. Instructions are on the members’ Page of the TSO Website. At this time of the year, an incorrect date (e.g. 31 Dec 2019 instead of 31 Dec 2018) can cause an imbalance in the GST.

BoT FTE Calculations
Board members are required to record time spent on Board business. The combined figure is reported in the Financial Statements as an FTE (full time equivalent). We strongly suggest the MOE Template is used and updated each month. See our blog on BoT FTE calculations here.

Community Grant Applications
Schools are required to keep a register of all Community Grants applied; that is, both accepted and declined applications.
Please contact us if you would like a copy of a template.


For those new to Xero or to receiving this eNews, Trax is a TSO App developed to provide Xero Tracking Reports en-masse. These reports can be emailed to budget holders and has an option to print transactions.

We acknowledge entering tracking budgets in Xero and then Uploading to Trax is tedious. The benefit, though, is easily providing HOD’s with budget reports. If you would like any help loading these budgets or the overall budget, please contact us – via the button below. 

The process for uploading budgets to Trax changed at the end of last year. Please refer to the Trax Instructions on the members page of the TSO website.

Reminder: When a Xero GL Code Name or Xero Tracking name is changed, the tracking budget must be re-uploaded into Trax. 

trax reporting for schools