Key finance events by school term
Regular to do list
- Monitoring of budget including forecasting monthly
- Bank reconciliation
- School bursarial service (SBS) planner: Update the latest CEA onto the SBS planner to show latest movements within codes
- Update cashflow monthly
- Update salaries when report is received from GenPayroll
- Review early years data and update accordingly, using the portal
- Review high needs data and update accordingly, using the portal.
Summer term focus April - August
- Finalise closedown of 2021/22
- Set the budget for 2022/23
- 3 year plan, mandatory
- Ensure school development plan costed and included in 3 year plan
- Send approved budget for 22/23 and 3-year plan to Ealing LA:
- for schools who use the SBS planner -Tabs 14 and 14a
- other schools to submit the budget return template
- SFVS submission
- CFR
- Term 1 finance return
- Summer SING forum
- Review training needs for staff and governors and arrange as required.
Autumn term focus September - December
- Review staff and update changes on schools monitoring systems eg SBS planner
- October census – use bulk eligibility checking to ensure all FSM eligible children flagged
- Review pupil number forecasts based on known September starters and other data (eg. school places report) -update changes on monitoring systems eg SBS planner
- Update planner once October census figures finalised and review impact on 23/24 funding
- Review and update 3-year plan ensuring all plans, costs and changes are factored in. Once completed, report to governors
- Autumn SING Forum
- Term 2 finance return
- Review school bursarial service 2023/24 offer
- Review school financial benchmarking and view my financial insights (updated April 2022).
Spring term focus January - March
- Present school level analysis of benchmarking and ICFP metrics to governing board
- Review current year 2022/23 figures including forecasting until year end
- Projected year end position
- Review and update 3-year plan ensuring all plans, costs and changes are factored in. Report to governors
- Preparation to start for the new 2023/24 Budget including SLT/governors
- Review the indicative budget allocations
- If buying into school bursarial service for 2023/24, advise bursarial team and ensure selected on school order form in February
- Spring SING forum
- Closing of 2022/23.
Last updated: 08 Apr 2022