Transcript Ensuring financial oversight

William Simmonds FRSA HonFCoT
Freeman Company of Educators
Accountability
 Accountability
 Public Accounts Committee Report
 Securing value for money
 Local Authority and EFA responsibility for
financial oversight
 Is there weakness in the system?
 Local Authorities cutting back
 National Audit Office survey – reduced
internal audit coverage of schools
Leasing
 Recent leasing difficulties of some
schools
 Mainly supplier scams
 Finance or Operating lease
 NASBM lease checker – www.nasbm.co.uk
 Lack of understanding of lease
documentation
 Deal or no deal?
Fraud in Schools
 Does it occur?
 Why and how does this happen?
 Governing Bodies lack of financial
expertise?
 25% of Local Authorities thought so, more
so in the Primary sector
 Lack of an accountability framework?
 Lack of spontaneous checks?
Responsible Officer role
 Should be a Governor but not the Chairman
 Provide an ongoing independent oversight of
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financial affairs
Financial responsibilities of the Governing
Body are being properly discharged
Resources are managed in an efficient,
economical and effective manner
Sound systems of internal financial control
are being maintained
Financial considerations are fully taken into
account in reaching decisions
Whose responsibility is it?
 It is not mine!
 The School Business Manager will become
paramount as budgets reduce.
 The SBM should be an integral part of the
Leadership Team, as budgets reduce
 Governors should expect the SBM to raise
more money through sponsorship and
available grants
 Governors should encourage collaboration
in purchasing with other schools
SGOSS Survey 2012
 96% of respondents believe that there is a
demonstrable link between the effectiveness of
the governing body and pupil performance
 Good governing bodies make a material
contribution to the performance of their schools
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 It is absolutely clear to me that the most
important decision-making group in any school is
the governing body. We need to ensure that
governing bodies have the best possible people,
representing a range of different groups and with
the right mix of skills.
Lord Hill