Schools Termly Finance Seminars 26th February 2009 Bedford Borough Schools

1. Schools� Termly Finance Seminars26th February 2009Bedford Borough Schools Rufus Centre Flitwick

2. Agenda Introductions 9.15 Unitary 9.20 FMSiS - Roger Willoughby 10.10 Year End Timetable 2009-2010 Budget 10.30 General Issues and Dates of Next Seminars Coffee Break 10.45 Short Year-end Workshop 11-11.30am

3. Unitary Children�s Finance Team Bursary Service � Shared Service Finance

6. Unitary Financial Framework � Andy Watkins Accounting Arrangements � Annabel Scholes Exchequer & Payroll � Peter Smith Insurance � Peter Smith Banking Arrangements � Sarah Pumffrey (NatWest) Human Resources � Mark Johnson

7. Finance SeminarInternal Audit February 2009

8. Contact Details Roger Willoughby Audit Manager- Education FMSiS Accredited Assessor roger.willoughby@bedscc.gov.uk 01234 228776

9. FMSiS Assessment Process Where are you at? Assessed and Passed Assessment in progress Still working towards the Standard Looking forward to reassessment (!)

10. Assessed and Passed Have a party to celebrate Contact your assessor to arrange for return of your evidence files Address any recommendations Annual G4 return to Schools Finance

11. Assessment in Progress Thank you for your patience!! Keep collecting evidence This will be taken into consideration by the assessor subject to timescales

12. Still working towards the Standard Stay in touch Keep gathering evidence Use www.fmsis.info Use Schools Finance website Use your Schools Financial Advisor If desperate, phone me

13. Looking forward to reassessment! 2009-10 Reassessment of 2006-07 schools- Uppers and one Middle Plus remainder of schools not yet met the Standard- either first time or reassessments

14. Unitary Issues- Post 1st April 2009 Will I still be assessed Who will do my assessment Who should I contact for advice

15. Odds and Sods Teachers Pensions LA requests for verification of data Essential to get County information up to date Essential that schools review thoroughly and return Statement of Internal Control (SIC) Key assurance statement Sign off annually Supported by pre- certification checklist Copy submitted to Schools Financial Advisor

16. Year � End 2008-09 Year end letter to schools with timetable will be available on the School web site week commencing 2nd March All forms available on website � paper copies will not be sent to schools Key Dates 20th March 12 noon deadline for receipt of invoices including imprest claims in Exchequer Services 10th April Fully Funded (if possible now 75 Schools) Year End Accounts to be received in Schools Finance 20th April Latest date for receipt of Fully Funded returns Income deadlines : 24th March Securicor (must fax full details to cashiers) 25th March Cashiers (SAP down from 26th � 30th) 25th March Banked into any bank apart from Nat West 31st March Banked into Nat West (must fax full details to cashiers by noon) April 15th Accruals to SFA Send in Nil returns � will not be chased Direct Revenue Financing (DRF)

17. Year � End 2008-2009 No Herts invoices or Supply (teachers)/Overtime (non teachers) accruals will be processed by LA� Schools to do their own (as last year) Workshop after Seminar going into more detail Updated software will be despatched later this week FPS.Advance - Excel version 1st week March Earmarked Funds Form with Preliminary CFR � 5th June Final CFR 12th June Declaration of Grant Income and VAT declaration with CFR

18. Year End 2008-2009 Inventories � no need to submit for 2008-2009 however still requirement to complete. Electronic version on website to download DRF - can only be used where formula capital allocations for that financial year have been fully utilised. Must use formula capital funding first. Exception would be where we have allowed c/fwd on basis its for a specific project. - cannot be done if it puts the revenue budget into deficit position.

19. Budget 2009-2010 Formula allocations for 2009-2010 will be sent week ending 13th March. Indicative Formula allocations for 2010-11 will be sent out by 31st March (aim for 13th). Actual SSG and SSG(P) allocations for 2009-10 and indicatives for 2010-11 will also be included in budget pack

20. Budget 2009-2010 Schools will be sent a two year budget plan which they will need to complete and return with back up to their SFA by 31st May Send back-up of salaries and Best Value Statement with budget plan Fully Funded Schools have details of their returns in Scheme

21. Dates of Next Finance Seminar 19th Central Bedfordshire and 20th May 2009 Bedford Borough Rufus Centre, Flitwick

22. Year End Workshop

23. Year End Workshop Agenda Forms to be completed Accruals � General Earmarked Funds Direct Revenue Financing Imprest Declaration Devolved Formula Capital Return

24. Forms to be Completed Timetable will be made available on the school website Blank templates will be available for year end on the schools website ALL forms to be completed by central schools. Fully Funded schools have separate arrangements covered by the scheme for FF Schools. If nothing to declare then MUST be marked �Nil Return� Accruals Earmarked Funds Form (accompanied by back up/ exempt income declaration and grant information) DRF Declaration Imprest Declaration ALL forms to be returned to your School Financial Advisor by the 15th April 2009 as specified on the Year End timetable

25. Accruals - General Value must be rounded to the nearest �1 Back up must be provided Signed by Headteacher Group accruals by GL code � one GL code per worksheet if manageable SUGGEST none under �1000 Above �1,000 per any one item MUST be included No expenditure on income GL codes or income on expenditure GL codes

26. Payments in Advance Orange Form Payment made for goods and services in 2008/2009 which are to be received after 31st March 2009 Back up with copy of invoice Expenditure G/L to be used

27. Creditors Blue Form Invoices not paid for goods and services received before 31st March 2009. Back up with copy of delivery note or invoice. Copy orders will not be accepted Expenditure G/L only to be used

28. Receipts in Advance Pink Form Income received in 2008/2009 for goods and services to be provided after 31st March 2009 Back up with paying in slip/copy bank statement and document confirming that the goods and services will be provided in 2009/2010.

29. Debtors Green Form Income which has not been received for goods and services provided before 31st March 2009 Back up with invoice sent to Debtor or other documentation that states the income relates to 2008/2009.

30. Earmarked Funds Pro forma to be sent to schools (included updated scheme and available on the website) Balances to be split: B01 Committed Revenue Balance B02 Uncommitted Revenue Balance B03 Devolved Formula Capital B04 Other Standards Fund Capital B05 Other Capital Balances B06 Community Focused Extended Schools

31. Earmarked Funds B01 Committed Revenue Balance Unspent revenue grant and balances held for capital projects where written contracts have been entered into Supporting evidence must be submitted for the LA to authorise such earmarking, schools must maintain and present accounting records in support of such expenditure Headteacher/Senior Teachers Consultancy income

32. Surplus Balances B02 Uncommitted Revenue Balance Any revenue balance not in above category Relevant evidence must support balance held and be in written form when above the 5% or 8% Threshold e.g. Finance Governor minutes 3 Year plans Projected pupil numbers Correspondence with contractors

33. Earmarked Funds B03 Devolved Formula Capital Any unspent Formula Capital. B04 Other Standards Fund Capital Standards Fund ICT Capital Balance Any balance B/fwd from 07/08 should have been spent by 31st August 2008. Therefore any B04 Capital balance should be no more than the 08/09 allocation of e-learning credits.

34. Earmarked Funds B05 Other Capital Balances This could be travel plan money not yet spent or any other Capital Grant which is NOT Formula Capital or E-Learning Credits B06 Community Focused Extended Schools This is calculated by taking your opening B06 balance plus CFR codes I16+I17 less CFR codes E31+E32.

35. Direct Revenue Financing (DRF) To be actioned when a capital project is overspent VA Schools paying over their 10%�s into their Capital Account Journal to transfer revenue to capital only done at year end. ICT Capital, Formula Capital and Other Capital projects need to be assessed separately to determine whether a DRF journal is needed. DRF cannot be actioned for Formula Capital Expenditure if a school has a Formula Capital balance at year end or puts the school into revenue deficit (Exception - school forum agreement under B01 in the previous financial year) A DRF form must be filled in by all schools

36. Imprest Declaration Imprest accounts are used by Central schools only The declaration must state the total amount advanced to school as at 31st March 2009 Fully Funded schools must return the signed form but should mark it �Nil Return�

37. School Fund Audits Audited accounts must be sent to your SFA by 15th April 2009. Most are academic year rather than financial year. Therefore accounts will be for Sept 2007 to Sept 2008.

38. Fully Funded Schools Main Year End Returns Final Year End Cashflow Balance Sheet for the year ended Income and Expenditure Statement for the year ended Final Salary and Wages Return Officers Emoluments Form Schedule of Debtors and Creditors, Payments in Advance, Receipts in Advance including back up to Accruals, (i.e. copy invoices) Equipment leasing Payments and Contributions Disclosure Trust Funds Self Employment Declaration Earmarked Funds/ Declaration of Surplus Balances Form

39. Fully Funded Schools Main Year End Returns Bank Reconciliation for the year ended Copy of final Bank Statement Final VAT Claim Petty Cash reconciliation CFR Return Trial Balance and Balances and Reserves Report (SIMS Schools only) Budget Vs Actual Vs Committed including accruals (RM Schools only) March Payroll Listing Latest Certificate Annual Audit of Voluntary/Private Funds and Trading Activities