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.
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Last updated: 08 Apr 2022