School finance overview sue ashley principal officer lms children and young people s department
This presentation is the property of its rightful owner.
Sponsored Links
1 / 11

Wirral Governors’ Forum PowerPoint PPT Presentation


  • 76 Views
  • Uploaded on
  • Presentation posted in: General

School Finance Overview Sue Ashley - Principal Officer LMS Children and Young People’s Department. Wirral Governors’ Forum. Contents. Sources of School Funding The Finance Committee Budget Setting Budget Monitoring and Projections Policies and Procedures

Download Presentation

Wirral Governors’ Forum

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


School finance overview sue ashley principal officer lms children and young people s department

School Finance Overview

Sue Ashley - Principal Officer LMS

Children and Young People’s Department

Wirral Governors’ Forum


Contents

Contents

  • Sources of School Funding

  • The Finance Committee

    • Budget Setting

    • Budget Monitoring and Projections

    • Policies and Procedures

    • Schools Financial Value Standards

  • Finance Training Provided

  • Useful documents and websites


Sources of school funding

Sources of School Funding

Delegated Budget Allocation

  • Pupil entitlement

  • Deprivation

    • FSM

    • IDACI

  • Looked after children

  • Low cost, High incidence

  • English as an additional language

  • Lump sum

  • Rates

  • Other

  • MFG/Capped adjustment


Sources of school funding1

Sources of School Funding

Other Funding

  • High Needs Funding

    • Special Schools and Bases in mainstream schools

  • Pupil Premium

    • Free School Meals, Looked after children and Service children

  • Early Years Funding

  • 6th Form Funding

  • Formula Capital

  • Other income


The finance committee

The Finance Committee

Budget Setting

  • LMS bursar/business manager/headteacher prepares budget

    • Consider school development plan

    • Staff changes

  • Discuss at Finance Committee

  • Ratify at full governors

  • To LA by 30th June


The finance committee1

The Finance Committee

Budget Monitoring and Projections

  • Same process as budget setting

    • Period 6 report identify changes/differences against budget

      • Discussed at finance and ratified by 30th November

    • Period 9 report identify changes/difference against P6

      • Discussed at finance and ratified by 28th February


Financial policies procedures

Financial Policies & Procedures

Financial Policies and Procedures

  • Ensure the school’s policies and procedures have been agreed by the finance committee

  • Spread annual documents for update between all finance committees

  • Ensure the latest policies are available

  • Ensure all procedures are written down and available


Schools financial value standard sfvs

Schools Financial Value Standard (SFVS)

  • Annual questionnaire for Governors

  • Mandatory for LA maintained schools

  • To be completed by 31st March each year

  • Not externally assessed

  • Internal Audit to review and inform future audits

  • http://www.education.gov.uk/schools/adminandfinance


Training provided

Training Provided

  • Autumn Term

    • The Role of the Finance Committee

      • 15th October 6pm – 8pm

      • 17th October 9.30am – 11.30am

  • Spring Term

    • Understanding School Finances

      • Dates not yet set

  • Summer Term

    • Schools Financial Value Standards


Useful documents

Useful Documents

  • The Scheme for Financing Schools

  • School’s welcome pack

  • Governor Support Service – welcome pack

  • Section 251 Budget and Outturn Statements

  • Audit Commissions “Valuable Lessons”

  • Abbreviations and brief explanations

  • Task Timetable for Finance Committees

  • SFVS Questionnaire


  • Login