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.