Financial guide

The local Financial Guide for Schools aims to supplement the requirement of the Scheme for Financing Schools and the Schools Financial Value Standard to provide:

• details of Barnet specific procedures and forms
• technical details e.g. taxation
• details of items not available elsewhere.

Introduction and Contents

• Introduction and Contents

Section 1 - Governance

• 1.1 - Organisation of Responsibility and Accountability
• 1.2 - Delegation and Authorised Signatories
  • 1.2 - Appendix 1: Notice of Authorised Signatories Secondary
  • 1.2 - Appendix 2: Notice of Authorised Signatories Primary
• 1.3 - Business Interests
  • 1.3 - Appendix 1: Register of Business Interests Proforma 
• 1.5 - Governing Body skills matrix
• 1.6 - School staff skills matrix 
• 1.7 - Schools Financial Value Standard
• 1.8 - Internal Audit
• 1.9 - External Audit
• 1.10 - Fraud and Corruption
  • 1.10 - Appendix 1: Model School Fraud Policy

Section 2 - Budget

• 2.1 - Strategic Financial Planning and Budget Process
• 2.2 - Preparation and Submission of Annual Budget
  • 2.2 - Appendix 1: School Budget e-Form
  • 2.2 - Appendix 2: Extended Schools Flow Chart 
• 2.3 - Preparation and Submission of Year End Forecasts
• 2.4 - Preparation of 3 Year Budget Plans
• 2.5 - Budget Monitoring and Control
• 2.6 - School Balances
  • 2.6 - Appendix 1: Planned Use of Balances Form
  • 2.6 - Appendix 2: Example Planned Use of Balances Form
• 2.7 - Deficit Budget Procedures
• 2.8 - Financial Returns to the LA
  • 2.8 - Appendix 1: Completed Posting Summary e-Form
  • 2.8 - Appendix 2: Posting Summary e-Form Guidance Notes
  • 2.8 - Appendix 3: Bank Reconciliation
  • 2.8 - Appendix 4: Guidance Notes on e-Transfer of Bank Reconciliation
  • 2.8 - Appendix 5: Cash Book Reconciliation
• 2.9 - Statement of School - LA Accounts
  • 2.9 - Appendix 1: Format for School - LA Accounts Reconciliation
  • 2.9 - Appendix 2: Extract of Statement of Accounts
  • 2.9 - Appendix 3: Example Transaction List
  • 2.9 - Appendix 4: School GL Coding Structure in SAP 

Section 3 - Capital

• 3.1 - 1.3 - Capital Funding Budgeting and Accounting
• 3.14  - VA Schools Governors' Responsibilities for Building Works incl VAT - updated Aug 2014
• 3.14 - Appendix 1 : HMRC VA schools revised guidance Oct 2013
• 3.15  - Asset Management

Section 4 - Internal Financial Controls

• 4.1 - 4.7 - Internal Financial Control
• 4.8 - Control of Assets
  • 4.8 - Appendix 1: Example Inventory Record
  • 4.8 - Appendix 2: Example Loans Record
  • 4.8 - Appendix 3: Disposal Form

Section 5 - Banking and Funding Arrangements

• 5.1 - 5.4 - Banking and Funding Arrangements
• 5.5 - The Use of Debit and Credit Cards
  • 5.5 - Appendix 1: Example Debit and Credit Card Policy
• 5.6 - Cheque Fraud Prevention

Section 6 - Value for Money(VfM) and Purchasing

• 6.1 - 5 VfM and Purchasing
  • CSO Appendix 1: Contract Standing Orders for Schools
  • CSO Appendix 2: School Services Terms and Conditions short version
  • CSO Appendix 3: School Goods Terms and Conditions short version
  • CSO Appendix 4: Invitation to Quote Example
  • CSO Appendix 5: Form of Quotation for Schools
  • CSO Appendix 6: Instructions for Quotation School Version
  • CSO Appendix 7: Collusive Tendering Certificate
  • CSO Appendix 8: Return label example
  • CSO Appendix 9: Code of Conduct School Version
  • CSO Appendix 10: Pricing Schedule Guidance Example
  • CSO Appendix 11: Guidance on Development of a Specification
  • CSO Appendix 12: School Goods Model Contract
  • CSO Appendix 13: School Services Model Contract
• 6.6 - Leasing and Rental of Equipment
• 6.7 - Benchmarking

Section 7 - Income

• 7.1 - 7.8 - Income Collection and Administration
  •  7.5 Appendix 1: Journeys and Trips Spreadsheet
• 7.9 - Lettings Policy and Administration
  • 7.9 Appendix 1: Example Lettings Policy
  • 7.9 Appendix 2: Lettings Application Form
  • 7.9 Appendix 3: Example Terms and Conditions of Hire
  • 7.9 Appendix 4: Scale of Charges
  • 7.9 Appendix 5: Provisional Booking Notice
  • 7.9 Appendix 6: Acceptance Advice
  • 7.9 Appendix 7: Lettings Invoice

Section 8 - Taxation

• 8.1 - 8.6 - Taxation - VAT
  • Taxation - VAT Appendix 1: Example VAT Invoice
  • Taxation - VAT Appendix 2: Example VAT Receipt 
• 8.7 - Taxation - PAYE NI and Pensions

Section 9 - Insurance

• 9.1- 9.8 - Schools Insurance

Section 10 - Unofficial Funds

• 10 - Unofficial Funds
  • Appendix 1: Voluntary Fund Auditors Guidance

Section 11 - Miscellaneous

• 11.1 - Document Retention
• 11.2 - Accounting for Grant Funded Activities