Get documents about "Reconciliation of funding (CP) or LA Income (EBA) to IFS report
Document Sample
Headteacher’s Finance Checklist – External Bank School
Task Due date Notes Links/F note
Submission of budget By 1st May but by no later Signed copy held in school. Link to F104 – Budget Plan
notification. than 31st May Notification & Cash Flow
Essex Schools Infolink, Finance,
Finance Notes (Fnotes),
F104http://esi.essexcc.gov.uk/vip
8/si/esi/content/binaries/documen
ts/Service_Areas/Finance/Fnotes
/F805_Budget_Plan_Notification.
doc
Reconciliation of funding to Signed monthly. Within 1 Example reconciliation form Reconciliation form (excluding
IFS report week of receiving the IFS Month 6, 9 and yearend)
attached. Signed copy held in
statement. Check to be school but only Month 6, 9 Essex Schools Infolink, Finance,
evidenced with a dated and year end (different Forms & Planning Tools, Budget
signature. Planning & Monitoring Tools,
reconciliation forms for these)
sent to the Schools Finance Multi Year Reconciliation
Team (see below). Formhttp://esi.essexcc.gov.uk/vip
8/si/esi/content/binaries/documen
ts/Service_Areas/Finance/Fnotes
/F805_Budget_Plan_Notification.
doc
Bank reconciliation Signed monthly. Within 1 Example bank reconciliation Essex Schools Infolink, Finance,
week of receiving bank form attached. The school Advice & Guidance, Bank
statement. Check to be bank account should never Reconciliation Form.xls
evidenced with a dated be overdrawn.
signature.
Submission of reconciliation Month 6 (September) due 31st Signed paper copy held in F102 setting out reports required
form and CFR return to October school but Months 6 & 9 sent Essex Schools Infolink, Finance,
Schools Finance Team during Month 9 (December) due 31st electronically only to the Finance Notes (Fnotes), F102
the year January Schools Finance Team.
Submission of year end CFR Notified each year but usually Signed paper copy held in F103 setting out reports required
return, reconciliation form and last week of April. school. From 2011-12 only at 2011-12 year end.
balance sheet to the Schools electronic copies need to be Essex Schools Infolink, Finance,
Prepared by the Schools Finance Team -1-
Finance Team. sent to the Schools Finance Finance Notes (Fnotes)
Team.
Task Due date Notes Links/F note
VAT return Signed monthly. Within 1 VAT Manual, example VAT Essex County Council Intranet,
week of the VAT period end return, VAT timetable and Finance Professional Services,
date instructions provide on link to Key Documents for Officers,
the right. VAT Manual, VAT Manual:
External Bank Account Schools
Virement approvals. Approved Monthly/as required. All virements to be reported to
in accordance with the Governors.
school’s financial regulations.
Receive financial monitoring Monthly. Within 2 weeks of Where spreadsheet reports,
reports and narrative month end. as opposed to reports
explaining variances produced direct from the
school’s Financial Accounting
System, are used, these must
be accompanied by, and
reconciled to, a Financial
Accounting System report.
Where trading activities take Monthly/termly.
place, e.g. catering, uniform
sales (private fund),
community activities etc.,
trading accounts must be in
place that clearly identify
purchases, sales, stock levels
and details of profit/loss.
Financial monitoring reports
Prepared by the Schools Finance Team -2-
must be submitted to the
Governing Body on at least a
termly basis. Catering
accounts may be required on a
monthly basis.
Prepared by the Schools Finance Team -3-
Task Due date Notes Links/F note
Review budget Termly, but this should be an Link to LA Five Year Budget Essex Schools Infolink, Finance,
projections/medium term ongoing exercise as any Projection spreadsheets Forms & Planning Tools, Budget
financial plan variations to the budget need attached Planning & Monitoring Tools
to be reflected in the
projections/ medium term
financial plan
Appointment of auditor for Annually – for approval by
private funds Governors
Bank reconciliation for private Monthly
funds
Periodic management checks Suggest termly
on income collection
Authorisation of payroll forms As required.
for new
appointments/variations to
existing contracts
Authorisation of Monthly
overtime/supply claims
Prepared by the Schools Finance Team -4-
