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 2022/23
• Set the budget for 2023/24
• 3-year budget plan-mandatory
• Ensure school development plan costed and included in 3-year plan
• Send approved budget for 23/24 and 3-year plan to Ealing accountancy:
  • for schools who use the SBS planner -Tabs 14 and 14a
  • other schools to submit the budget return template
• Schools financial value standard (SFVS) submission
• Consistent financial reporting (CFR)
• Term 1 finance return
• Summer SING (schools information networking group) forum
• Review training needs for 23/24 for Staff and Governors and arrange as required

Autumn term focus September - December

• Review of staffing-any changes are updated on schools monitoring systems eg SBS planner
• October census – use bulk eligibility checking to ensure all FSM eligible children flagged
• Review of pupil number forecasts based on known September starters and other data (eg. school places report) -any changes are updated on monitoring systems eg SBS planner
• Update planner once October census figures finalised and review impact on 24/25 funding
• Send budget monitoring document to schools accountancy
• Review and update 3-year plan ensuring all plans, costs and changes are factored in. Once completed, report to governors
• Autumn SING (schools information networking group) forum
• Term 2 finance return
• Review school bursarial service 2024/25 offer
• Review school financial benchmarking and view my financial insights.

Spring term focus January - March

• Present school level analysis of benchmarking and ICFP metrics to Governing Board
• Review current year 2023/24 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 2024/25 Budget including SLT/Governors
• Review the indicative budget allocations
• If buying into school bursarial service for 2024/25, advise bursarial team and ensure selected on school order form in February
• Spring SING (schools information networking group) forum
• Closing of 2023/24.