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To determine and review
financial policy including consideration of long term planning and
resourcing.
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To approve the annual budget
spending plan taking into account School Improvement Plan priorities.
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To act as advisers and
consultants to the governing body on financial issues. To be familiar with
the LEA budget spending plans, formula funding structure and policies for
financial delegation.
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To monitor the school budget
expenditure (including Standards Fund and other specific purpose grants)
with reference to criteria for receipt of the grant and the annual spending
plan. To make reports at least once a term to the governing body.
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To ensure that the school has
a financial management policy and procedures in place and that these are
communicated to all relevant staff.
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To authorise virement from one
area of budget spending to another in order to respond to unexpected
expenditure needs up to an agreed limit approved by the governing body.
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To agree the level of
delegation to the Headteacher for the day-to-day financial management of the
school.
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To review the school’s
charging and remission policy on an annual basis and make recommendations to
the governing body.
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To monitor school fund
expenditure and ensure the audit of school funds for presentation to the
governing body
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To receive and where
appropriate respond to periodic audit reports.
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To ensure that a register of
pecuniary interests is maintained for all staff and governors.
