school finance overview sue ashley principal officer lms children and young people s department
Download
Skip this Video
Download Presentation
Wirral Governors’ Forum

Loading in 2 Seconds...

play fullscreen
1 / 11

Wirral Governors’ Forum - PowerPoint PPT Presentation


  • 124 Views
  • Uploaded on

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

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Wirral Governors’ Forum' - bessie


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
ad