Transcript Schools Financial Value Statement

•Replaces FMSis
•Governor led
•Self Evaluated
•Used to inform both school and LA assessment
•Needs to be in place by March 2013
•The standard consists of 23 questions that a governing body should formally
discuss annually with the head teacher and senior staff. The questions are in four
sections A to D. Each question requires an answer of Yes, In Part, or No.
•If the answer is Yes, the comments column can be used to indicate the main
evidence on which your governing body based its answer.
If the answer is No or In Part, the column should contain a very brief summary of
the position and proposed remedial action.
•In Section E, your governing body should summarise remedial actions and the
timetable for reporting back. You should ensure that each action has a specified
deadline and an agreed owner.
•Your governing body may delegate the consideration of the questions to a
finance, or other relevant committee, but a detailed report should be provided to
your full governing body and your chair of governors must sign the completed
form.
•Your school must send a copy of the signed standard to your local authority’s
finance department
There is no prescription of the level of
evidence that as a governing body you
should provide. The important thing is
that you as governors are confident
about your responses.
•Skills
•Responsibilities
•Business Interests
•Review
•Ensure Accountability
•Critical Friend
Aligning the school’s budget and the plan to improve standards
and attainment should:
•help the school understand the impact that its intended plans
will have on the workload of its staff;
•highlight the most effective way for the school to use their
workforce to improve outcomes for their pupils; and
•help the school to assess whether the actions are viable and
cost-effective
Linking the budget and improvement planning cycle to focus
decisions on improved outcomes for children
Jan
An Example
Dec
Action Planning
and Key
Responsibilities.
Monitoring and
Evaluation.
Whole School
Action Plans.
Nov
Budget
Provisional
analysis
budget planning.
predictions.
Analysis of
Income &
Expenditure.
Key factors
New Choices.
Oct
Target setting
Review.
Policy Review.
Monitoring and
Evaluation of SI
Plan.
Performance
Management.
- an analysis
CFR data
available.
Sept
To note: this is an example
based on one school’s
planning cycles – the
content of the circles will
vary depending on
individual school cycles.
Apr
Benchmarking
Report (internal
and external).
Budget
setting and
authorisation.
Budget
modified.
Audit
Review.
Results/Outcomes
analysis
(benchmarking).
Aug
Curriculum Review
Key variables – an
analysis.
CPD
considerations and
capital/asset plan
decisions.
Budget (end
of year).
Budget
predictions.
Policy Review.
Mar
Resource
implications.
Staffing
analysis.
Staff Interviews.
School
Improvement Plan
(Governors).
Plasc data.
Monitoring and
Evaluation.
Learning Reviews.
Feb
Pay
Policy
Review.
Consistent
Financial
Reporting
Return.
Final
budget to
Governors.
Staffing analysis.
Staffing structure
review.
Final Improvement
Plan.
Finalise CFR.
Best Value
Statement.
Staffing/Timetable.
Target setting.
Assessment
Review.
Policy
Review/Audit.
Jun
Jul
May
Linking the budget and improvement planning cycle to focus
decisions on improved outcomes for children
Key Benefits
Strategic decision making is closely linked to the budget cycle ensuring that
financial decisions have the greatest impact on educational outcomes.
The budget and improvement planning process is more transparent and fair.
Raises staff awareness and widens responsibility and ownership of the school
budget and improvement planning cycles leading to greater efficiencies.
The budget is subject to consistent and regular monitoring and evaluation of
outcomes.
Ensures that success or failure of investment is clearly identified and that
benchmarking analysis is integral to the planning cycles.
Ensures that key variables are identified as part of the planning process (eg.
staffing contact ratios, lesson unit cost, affordable class sizes, pupil forecasts, key
stage balance, SEN factors etc.)
This area covers :
•Benchmarking
•Premises management
•Purchasing
•Collaboration
This includes :
•Business Continuity Planning
•Audit
•CFR
•School policies such as Whistleblowing
•Anti – fraud measures
In conclusion
 www.elc-gel.org.uk
 www.moderngovernor.com
 www.kenttrustweb.org.uk
 www.dfe.gov.uk