Lake Mundi officially opened on 18th of October 1876. The HT W. JONES (1876-78) enrolled 19 pupils. At a cost of £214 18s 8d the Department supplied a portable wooden school house, to accomodate 30 pupils, with a five-room residence attached. The first school was situated on the Casterton-Penola road approximately 23 miles from Casterton and 5 miles from the border, but over the years it occupied three different sites until closure in 1897. After 1884, Lake Mundi worked part-time with Tullich. In 1958 the school re-opened with an enrolment of 9 pupils in Grades 1, 4, 5, 6, and 8. A modern building was erected in 1959 on a new site for an enrolment of 11. Attendance increased to reach a peak of 17 in 1966. During the 1960s parents improved the grounds and supplied equipment including a duplicator, a projector and a radio. From 1958-68, when the school closed down again, the following teachers taught at Lake Mundi: I.H. LEGG, K.N. O'NEIL, L.D. SEALEY, W.J. MILLAR, D.G. GLEESON. T.J. DIMOND, D.D. McMURTEE and M.F. SPOTTISWOOD.
Source: "Vision & Realisation", Vol 2, Education Department of Victoria.