Managing Your School's Finances

Roger Smith

2665ePackMar 03978 1 84070 613 0

A key whole school resource

With an ever-increasing number of funds and grants available for different areas of school life, it is hard to balance and budget for the future. Financial monitoring and preparation for Local Authority audits can put a large administrative burden on schools. Often, close teamwork is required between the headteacher, governors’ finance committee and the school’s finance officer for good results.

This pack provides guidance on how to improve the management of your school’s finances. It looks at budget planning, the options schools have for acquiring extra funds, how to manage income and expenditure and methods of keeping records for inspection. It also covers working with the school’s finance team – including the school’s finance officer and with the governors’ finance committee.

Contents

• Introduction
• 1 Income, expenditure and accountability
• 2 Schools and governors working together
• 3 The finance committee
• 4 CFR and working with your school's bursar
• 5 Setting your first budget
• 6 Conclusion
• Further information
• Index to forms and handouts