Financial planning and reporting
- Strategic Planning: the Key to Financial Sustainability GUIDANCE, TOOLKIT
- Budget Report for Governors [FMSiS] TEMPLATE
- A Suggested Cash Flow Statement Proforma [FMSiS] TEMPLATE
- Financial Statements Summary [FMSiS] TEMPLATE
- A Guide to the Financial Summaries to be Reported to the Governing Body [FMSiS] DETAILED GUIDANCE
Strategic Planning: the Key to Financial Sustainability
Setting a school budget which is informed by the school development plan (SDP) will ensure that the resources available fit in with long term plans, achieve the objectives economically and are targeted efficiently at improving the quality of educational outcomes and standards.
This practical guide aims to support schools in creating a 5 year strategic plan and recommends good practice through innovative strategies which are underpinned by sound resource planning, thus ensuring long term financial sustainability and value for money.
Using a wide range of tools this guide explains:
- How the multi-year budget should be seen as a financial expression of the school development plan
- How the educational priorities of the school determine its financial strategy
- How to manage within the limited resources available and achieve value for money
- How to manage the process of strategic planning
PDF (3.2 MB)
www.standards.dcsf.gov.uk/vfm/downloads/PDF/strategicplanning.pdf
Budget Report for Governors [FMSiS]
This is an excel template, showing an example annual school budget for governor approval.(Excel 36 KB)
www.fmsis.info/uploads/r22a.xls
A Suggested Cash Flow Statement Proforma [FMSiS]
A suggested cash flow format for a school is provided, which is also available as a downloadable spreadsheet.(PDF 76 KB)
www.fmsis.info/uploads/r23.pdf
Financial Statements Summary [FMSiS]
This excel template provides separate worksheets for key financial statements, including: revenue income and expenditure; summary of capital transactions; analysis of unspent balances; revenue income reconciliation; revenue expenditure reconciliation; capital transactions reconciliation; analysis of unspent balances reconciliation.(Excel 78 KB)
www.fmsis.info/uploads/R33A.xls
A Guide to the Financial Summaries to be Reported to the Governing Body [FMSiS]
Under the local authority scheme for financing schools, the Governing Body is responsible for the effective financial management of the budget share allocated to it. The Financial Management Standard in Schools requires schools to demonstrate effective financial management though the preparation of three documents at the year end - the Consistent Financial Reporting (CFR) Return, Statement of Internal Control (SIC) and Financial Summary. This guidance (around 20 pages) provides specific guidance on preparing the Financial Summary.(Word 261 KB)
www.fmsis.info/uploads/R33_IPF__Financial_Summaries_Guide_30-3-07.doc
