Guidance and policy documents relating to schools finance
Financial Administration and Control Policy
|The 'Financial Administration & Control Policy' is prepared in accordance with, and should be read in conjunction with, the authority's 'Fair Funding Scheme'. The policy outlines the respective responsibilities of the Governing Body, Headteacher and Staff in relation to financial administration. It also provides a standardised approach to all finance related tasks within the school, which is consistent with the Financial Regulations of Nottingham City Council.|
|Financial Admin & Control Policy|
|The Finance Manual provides a point of reference to assist schools in the management and administration of their delegated financial responsibilities. It details financial policies and practices that are approved and recommended by the Local Authority and takes account of all corporate and legislative requirements.|
Financial Procedures for Academy Conversions
|We will visit the school one month prior to conversion to explain the process. Schools Finance Support will provide the final balance to Head Teacher within four months of the date of conversion and School Funding Team will release the agreed final balance within one month following the agreement.|
|Financial Procedures for Schools converting to Academies|
Head Teacher Finance Induction
|An introduction to schools finance for Head Teachers who are new to the post or the school.|
|Head Teachers Finance Induction|
HMRC Employment Status Indicator Interactive Tool
|If you have completed a checklist and are still unsure of the employment status of the person you are engaging, you can use the ESI tool. This will guide you through some basic questions and give you an employment status along with the reasoning for this decision.|
School Funding Guides
|How to understand the school funding|
|Schools Funding Factors
School Funding Example
|How to manage the school funding
This will show you the key timelines for the school funding including annual allocation, termly adjustments and clawback arrangements.
|An individual can only be paid via invoice if they can demonstrate that they are performing a contract for services (i.e. self-employed) as opposed to a contract of service (i.e. employed). In order to assess whether the individual is performing a contract for services or a contract of service, refer to these guidance forms:|
|Guidance on how to export VAT files for monthly submission.|
|How to export VAT files|
The Approved Fair Funding Scheme
|In line with the Department of Education's (DFE) "Schemes for financing schools - statutory guidance for local authorities December 2015", Nottingham City Council has prepared a revised version of its Fair Funding Scheme. You can find the approved version of the revised Fair Funding Scheme here|
The Fair Funding Scheme sets out the financial relationship between the local authority and the maintained schools which it funds. The local authority's previous version (2013) is now slightly out of date. As per Schedule 14 of School Standards and Framework Act 1998, "as regards any proposed variation of the scheme, the authority shall first consult every governing body and head teacher whom they are obliged to consult". Therefore, we have initiated a consultation to get your feedback before submitting the revised version to the Schools Forum for their approval.
For your information:
Stages of Formal Consultation
Stage 1 (Consultation with the governing bodies and the head teachers)
The consultation period was open between 8th January 2016 and 22nd January 2016.
Stage 2 ( Feedback Review and Report to Schools Forum)
The Schools Finance and School Funding Teams worked together to review all the feedback from the consultation and wrote a report to Schools Forum on the outcome of the consultation and took a revised draft copy of the scheme to the Schools Forum on 25th February 2016 for approval. This has now been approved.
Stage 3 (Implementation)
The approved Fair Funding Scheme will be effective from 1st April 2016.
The full changes are detailed on the approved Fair Funding scheme.