What is included?

 

All our schools benefit from:

Access to advice, guidance and support via e-mail and telephone from our dedicated finance team 

Support and guidance visits as appropriate

Statutory ESFA returns completed on your behalf which include:

• Budget return (BF3YR)
• Land and Buildings Collection Return
• Annual rates reclaim
• Budget Forecast Return (BFR)
• Annual Accounts Return (AAR)

External audit co-ordination, agreement of audit plan and production of Financial Statements and Annual Report

Internal audit – management of service and costs

VAT returns, completion and liaison with HMRC

Bank co-ordination and set up which include:

• Local academy bank account (for receipt of local income)
• Purchasing cards
• Petty cash system (as appropriate)
• Management of Direct debits (as appropriate)

Administration of Finance System and Budgeting systems

Administration and co-ordination of Payroll service

MIS co-ordination of transfer of licence on conversion to academy status

Production of Trust-wide finance regulations and procedures which reflect requirements included in the Academies Handbook circulated annually by the ESFA

Design and responsibility for the financial scheme of delegation

ESFA funding co-ordination and processing

Co-ordination and regular processing of supplier payments via our purchase ledger

Co-ordination and completion of annual School Condition Allocation (SCA) funding to enable major infrastructure improvements

Financial reports, includes annual performance review and regular financial overview report

Budget setting guidance and support

Corporate risk register

Oversight of insurance (including staff absence) guidance and co-ordination

Central register of leases and contracts

Capital asset register

Termly finance staff meetings to provide opportunities for training and networking

 

What is not included?

Day-to-day monitoring of school budgets and input of documents such as purchase orders, invoices, cash receipts etc.

Initial drafting of the annual budget (support is available to assist with this)

Annual licence charges for finance, budgeting, MIS software and monthly payroll service costs

Schools may contribute to the cost of major capital works where funds allow

The costs of Hub Business Manager time which are shared across a Hub

 

Additional information

The Finance Team can advise as appropriate on any bids for additional funding to bodies such as charitable trust funds and procurement exercises.