Finance Support

Finance Support for Academies The Schools Finance Service delivers customer focused financial services to support academies in all areas of financial management.

Academy Finance Support Packages 2023-24

Please contact us if the packages do not meet your requirements and we will work with you to put together a bespoke package to meet the needs of your school.

Budget Population and Advice Service

This service provides a number of budget planning tools to Governors, Head Teachers and Finance staff to help prepare an annual budget, complete forecasts and manage cash flow.

They include a web based budget planner for setting the budget, to support with the completion of outturn forecasts, budget forecast returns and the Medium Term Financial plan and an easy to use cash flow statement.

We will also upload a file to enable you to complete a BPS pay reconciliation each month.

Full Telephone and Email Support

A personal non-automated landline telephone helpdesk on accounting, FMS and BPS queries.  This operates between 8:30am and 4:50pm during term-time (9.00am-4pm in school holidays).

• Remote assistance to resolve system queries.

Finance Support Packages (During the pandemic we are able to continue to provide this support through virtual visits)

The packages include either 4, 6 or 12 x 3 hour visits, the visits are flexible and can be utilised to support the Finance Officer to undertake financial tasks, including:

• Budget population and advice
• Preparation of outturn forecasts/monthly management accounts
• Preparation of the Schools resource self assessment management Tool
• Preparation of BFR3Y
• Telephone and email support
• FMS/BPS training
• BPS Payroll reconciliation
• Support on cash management
• Support on bank reconciliation
• General accounting tasks and financial advice
• House-keeping of accounting system
• Advice on maintaining chart of accounts
• Preparation and submission of VAT126 returns
• Year end support, including accruals and system balancing

Bursar Support Packages

Bespoke Bursar support packages are available to meet the needs of the school, these can be used to cover a short term workload issue, a period of illness/vacancy or as a long term solution to workload planning..

The standard Bursar support packages include a choice of 24 visits or 47 visits.

19/38 visits will be completed by a Finance assistant and will cover:                                                                    

• General financial administration tasks                                                                                  
• Ordering                                                                                                 
• Invoicing                                                                                                   
• VAT returns  
• BPS payroll reconciliation
• Bank reconciliation                                                

5/9 visits will be completed by a Finance Consultant and will cover:

• Budget Planning updates
• Preparation of the budget plan
• Preparation of outturn forecasts/management accounts
• Preparation of the BFR3Y
• End of year accruals and system balancing
• Query resolution

School Fund Audit

We will audit your school fund and complete the audit certificate.

Contract  

                                                                                                                                          We will be able to issue a three-year contract as well as the annual contract. To discuss your school's specific financial support requirements, or to obtain further information about our services, please contact:

Name: Schools Finance Support Team                      

Telephone 0115 876 5053

Email: schools.finance@nottinghamcity.gov.uk

This service aims to support schools in the daily management of financial affairs whilst ensuring compliance with financial regulations and policies.

School Finance Service Packages 2024/25                                  Each package contains the following services:

Budget Population and Advice Service                                                                                        We provide a web-based budget planner to all maintained schools that we support. This service will populate your planner with your school's teaching and non-teaching staff. The planner can be used for setting the budget and to complete the outturn forecasts and the Medium Term Financial plan.

Full Telephone and Email Support                                                                                                 A personal non-automated landline telephone helpdesk on accounting, FMS and BPS queries.  This operates between 8:30am and 4:50 pm during term-time; (9.00am-4pm in school holidays).

Remote assistance to resolve queries                                                                                                       We will log into your system to help to resolve any issues you are having with financial systems or returns.

Benchmarking                                                                                                                             We will complete the benchmarking annually for the school and forward the completed report to the school for review by the Governors and Head Teacher.

Finance Training                                                                                                                                    We deliver a range of finance training, including:

• Budget Management Training This course aims to provide an overview of budget planning, monitoring and controlling process.
• BPS: Budget Planning System Training This course aims to provide an in depth guide to budget setting, the completion of outturn forecasts and the 3 year plan.
• FMS: Financial Management Systems Training  This course aims to provide an overview of key functions, budget monitoring and year-end process in FMS

Bursar Support Packages                                                                                                                  Bespoke Bursar support packages are available to meet the needs of the school, these can be used to cover a short term workload issue or as a long term solution to workload planning. 

The following tasks will be completed by a Finance assistant:

• Ordering
• Invoicing                                                                                                   
• VAT returns  
• BPS payroll reconciliation
• Bank reconciliation   

   The following tasks will be completed by a Finance officer:

• Budget Planning updates
• Preparation of the budget plan
• Preparation of outturn forecasts
• Preparation of the MTFP
• Preparation of the Benchmarking element of the SFVS
• End of year accruals and system balancing

It is assumed all meetings will be virtual however should an on-site meeting be required for a specific purpose this is possible, to enable us to manage the meetings please give us notice of any on site requirements at least 1 month in advance of the meeting.

Virtual meetings are a standard 3 - 3.5 hours, On-site meetings are a standard 3 hours the meetings are flexible and can be utilised to support the Finance Officer to undertake financial tasks such as:

• Assistance with budget preparation and year-end process
• Preparation of LA returns
• Outturn preparation
• FMS updates & processing
• Guidance and support with the completion of the Schools Financial Value Standard
• Query resolution

Contact                                                                                                                                                   To discuss your school's specific financial support requirements, or to obtain further information about our services, please contact:

Patricia Lockhart                                                                                                                         Commercial Business Partner                                                                                                Telephone 0115 876 4615                                                                                                                 Email: schools.finance@nottinghamcity.gov.uk