Finance Update (DOC) by jennyyingdi


									                              Finance Update, November 2007

  This update is in three sections:
     1. Information for all schools (page 1)
     2. Schools that operate a Bank Account (page 2)
     3. Schools that operate E-Business (FAMIS) (page 3)

  This update will continue to be distributed electronically monthly and will be available on
  the Education Portal. Additionally schools that buy into the services of Education Finance
  will continue to receive the termly Hints and Tips briefing.

Heading                     Audience           Month     Content
School Revenue Balances     All Schools        Nov 07    Redistribution of 5% surplus
                                                         balances – link to Teachernet site
Schools Funding             All Schools        Nov 07    Link to Teachernet site letters
Settlement 2008-11
School Budgeting Toolkit    All Schools        Nov 07    Invitation to register for Toolkit
Training                                                 training
Funding Statement           Bank Account       Nov 07    Revised version – details and
                            Schools                      explanation
BCR Toolkit – Governors     Bank Account       Nov 07    Acceptability and recommendation
Reports                     Schools                      that governors receive the BCR
                                                         toolkit as is
Direct Debit Scheme –       Bank Account       Nov 07    Handover of project to Income
Traded Services             Schools                      Section
Schools Corporate Team      Bank Account       Nov 07    Lisa Mason now on maternity leave
Transfer to Bank Account    FAMIS Schools      Nov 07    Early notification of training to come
Status – April 2008

    Information for all Schools

  School Revenue Balances

  The DCSF recently announced the Governments decision not to proceed with the
  proposed redistribution of 5% of schools’ surplus revenue balances for the time being.
  The Department has written to Schools and to Directors of Children's Services to inform
  them of the decision. Copies of the statement and letters can be accessed from the
  following link:

  Page 1 of 3
Schools Funding Settlement 2008-11

Details of the schools funding settlement were published on the 15 th November. Full
details can be accessed from the following link:

A summary of the Schools Funding Settlement can be accessed from the Education
Budgets/Section 52 2008-2009/School Briefing Notes/Schoolfundingsettlement 12 Nov

School Budgeting Toolkit Training

We will be inviting all schools shortly to attend Schools Budgeting Toolkit 2008-09 training
free of charge. The training will be aimed at Finance Staff and Head Teachers but the
school is welcome to send anyone with an interest in understanding the mechanics of the

The training will focus on demonstrating the Toolkit including changes made since last
year. In response to feedback received last year, the training will be restricted to 40 people
per session.

Also, as a result of comments made on the feedback forms from the 2007/08 Schools
Budgeting Toolkit Training Sessions, we are considering offering a limited number of PC
based training sessions. There will be a charge for any PC based training to cover the
cost of the venue. If you are interested in attending a PC based training session could you
please register your interest by e-mailing and
confirming the name of your school and the name of any representatives wishing to attend
the PC based training session. Schools should register their interest by the Friday 7 th
December 2007.

  Schools that operate a Bank Account

Funding Statement

The revised funding statement has now been produced and circulated to schools with
effect from the 21st November funding.

The revised version features the following;

        Page 1 contains year-to-date monthly breakdowns in a summary table by BCR
         Description (with CFR category included). Additionally it has a table of data for use
         when populating the Period End Return Sheet of the BCR Toolkit and a Message
         Board for any important notices
        Page 2 contains a line by line cashbook journal for use when entering the funding
         into your financial system (Ledger codes suggested where known)

Page 2 of 3
Direct Debits will no longer be referred at the beginning of the month, but will be included
into the cashbook journal and contain the full FAMIS line description for charges and
income items shown as either Revenue or Capital.

Any school that has a query regarding any aspect of the funding statement should please
email Feedback on the changes or further ideas for
improvement will be gratefully received.

BCR Toolkit – Governors Reports

Further to queries from schools, the governors can be emailed the whole BCR toolkit.

Should any queries arise in connection with the toolkit, please contact the Schools
Corporate Team or send an email to

Direct Debit Scheme – Traded Services

We are now in the process of handing over the direct debit project to our colleagues in
Income Section. Any new schools wishing to join should forward paperwork directly to
Richard Howe, Box RES1313, Shire Hall, Castle Hill, Cambridge CB3 0AP.

Many schools have responded positively and we hope those involved will be pleased with
the benefits.

Schools Corporate Team

Lisa Mason has now commenced maternity leave and we are currently recruiting cover for

In the meantime, please will schools continue to contact the Schools Corporate Team
using      Lisa’s   direct  telephone     number     or    send    an      email     to Emails should not be sent directly to Lisa, as they
will not be responded to.

  Schools that operate E-Business (FAMIS)

Transfer to Bank Account Status – April 2008

Later this term, the process to transfer the remaining FAMIS schools will commence.
Schools will be receiving an invite to their first training session to be held during February
2008. Should schools have any queries, please contact Vicki Palazon on 01223 717965 or

Page 3 of 3

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