Financial framework


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Financial framework

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Contact Us

London Borough of Barnet
North London Business Park
Oakleigh Road South
N11 1NP

Carol Beckman - Schools Funding Manager
Tel: 020 8359 7636

Nick Adams
Schools Finance Services Manager

Financial Framework

Schools Financial Value Standard

The Schools Financial Value Standard (SFVS) replaces the Financial Management Standard in Schools (FMSiS) and has been designed in conjunction with schools to assist them in managing their finances, and to give assurance that they have secure financial management in place.

Scheme for Financing Schools

Barnet’s Scheme for Financing Schools sets out the financial relationship between the authority and the maintained schools which it funds. It contains requirements relating to financial management and associated issues, binding on both the authority and on schools.

Financial Guide

Barnet's Financial Guide for Schools aims to supplement the requirement of the scheme and the national standard to provide:

  • Barnet specific procedures and forms
  • technical details, e.g. taxation
  • details not available elsewhere.

Formula Funding

Further details of Barnet’s funding formula can be found on the relevant financial year pages.