Financial Framework

The financial framework for maintained schools is set from two sources. These are:

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.

Scheme for Financing Schools (PDF 188KB)
Key Points for Governors

Financial Guide

The local Financial Guide for Schools aims to supplement the requirement of the scheme and the national standard to provide:

details of Barnet specific procedures and forms
technical details e.g. taxation
details of items not available elsewhere.


Introduction and Contents	Processes
Introduction and Contents	Section 5.1.1 LBB Format of the School's Accounts
Leadership and Governance	Appendix 1: School Code List
Section 1 Organisation of Responsibility and Accountability	Section 5.1.2 LBB Financial Returns to the LA
Section 1.4.1 LBB Register of Business Interests	Appendix 1: Completed PSum E-Form
Appendix: Register of Business Interests Proforma	Appendix 2: PSum E-Form Guidance Notes
Section 1.4.2 Authorised Signatories - Recommended Practice	Appendix 3: Bank Reconciliation
Appendix 1: Notice of Authorised Signatories Secondary	Appendix 4: Guidance Notes on ETransfer of Bank Reconciliation
Appendix 2: Notice of Authorised Signatories Primary	Appendix 5: Cashbook Reconciliation
Section 1.6.1 LBB Whistle Blowing Policy and Code of Practice	Section 5.1.3 LBB Statement of School / LA Accounts
Policy and Strategy	Appendix 1: Format for School / LA Accounts Reconciliation
Section 3.1.1 LBB Preparation & Submission of Annual Budget	Appendix 2: Extract of Statement of Accounts
Appendix 1: School Budget Plan E-Form	Appendix 3: Example Line Item Report
Appendix 2: Annual Finance Cycle	Appendix 4: School GL Coding Structure in SAP
Appendix 3: Ext Schools Flow Chart	Section 5.1.4 LBB Preparation & Submission of Year End Forecasts
Section 3.1.2 LBB Deficit Procedures	Section 5.1.5 LBB Accounting for Catering
Section 3.1.3 LBB School Balances	Section 5.1.6 Preparation of 3 year budget plans
Appendix 1: Planned use of balances Form	Section 5.2 Accounting for Grant Funded Activities
Appendix 2: Example Planned use of balances	Section 5.2.1 Income collection and administration
3.1.4 Capital Funding, Budgeting and Accounting Guidance	Appendix 1: Journey Trips Spreadsheet
Section 3.4.1 Insurance - LBB Requirements and Guidance	Section 5.3 Budget monitoring and control
Partnership and Resources	Taxation
Section 4.1.1 LBB Purchasing Procedures	Section 6.1 LBB Taxation - VAT
Appendix 1: Contract Standing Orders for Schools	Appendix 1: Example VAT Invoice
Appendix 2: School Services Terms and Conditions	Appendix 2: Example VAT Receipt
Appendix 3: School Goods Terms and Conditions	Section 6.2 LBB Taxation - PAYE, NI and Pensions
Appendix 4: Invitation to Quote Example	Section 6.4 LBB Taxation - Construction Industry Scheme
Appendix 5: Form of Quotation for Schools
Appendix 6: Instructions for Quotation	Miscellaneous
Appendix 7: Collusive Tendering Certificate	Section 7.1 LBB Document Retention
Appendix 8: Return Label Example	Section 7.2 Voluntary Funds (Revised Dec 2008)
Appendix 9: Code of Conduct	Appendix: Voluntary Funds Auditors Guidance (Revised Sep 2007)
Appendix 10: Pricing Schedule Guidance Example	Section 7.3 Control of Assets
Appendix 11: Guidance on Development of a Specification	Appendix 1: Example Inventory Record
Appendix 12: School Goods Model Contract	Appendix 2: Example Loans Record
Appendix 13: School Services Model Contract	Appendix 3: Disposal Form
Section 4.1.2 Debit and Credit Card Guidance	Section 7.3 Guidance on the Prevention of Cheque Fraud
Appendix 1 - Example Debit/Credit Card Policy
Section 4.1.3 Leasing and Rental Agreements Guidance
Section 4.2.1 LBB Lettings Policy & Administration
Appendix 1: Example Lettings Policy
Appendix 2: Lettings Application Form
Appendix 3: Example Terms & Conditions of Hire
Appendix 4: Scale of Charges
Appendix 5: Provisional Booking Notice
Appendix 6: Acceptance Advice
Appendix 7: Lettings Invoice
Section 4.4.1 V.A Schools Governors Responsibilities for Building Works inc VAT

Email this pageLast modified by: Mark Callaghan on 21/09/2011

Financial Framework

Scheme for Financing Schools

Financial Guide

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Financial Framework

Scheme for Financing Schools

Financial Guide

Main Menu

Online Services

Useful Links

Contact

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