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Independent Schools are funded based on their CTC score (capacity to contribute) as an element of the Schooling Resource Standard or SRS. The Schooling Resource Standard (SRS) is an estimate of how much total public funding a school needs to meet its students’ educational needs. School Commonwealth funding is made up of a base amount and up to 6 needs-based loadings. The SRS indexation factor for a year is the higher of 3% or a factor calculated by the Department each year from movements in the Wage Price Index and Consumer Price Index published by the Australian Bureau of Statistics