School Governance Self Review Tool: Budget Planning and Management

Budget Planning and Management

1 How do you annually review the budget in relation to the school’s priorities for improving standards? How often do you review financial policies and procedures?

2 Have you completed any Financial Standard Self- Evaluation?

3 Do you complete the Statement of Internal Control? How often? How do you share this information with the full GB?

4 How do you agree the budget and ensure it reflects the school’s priorities, e.g. as set out in the school improvement plan?

a) Is this clearly minuted?

5 Have you delegated authority to the Head teacher in relation to financial matters and is this recorded and reviewed?

6 Does the governing body receive:

a) budget information from the school’s financial management system (Cost Centre System or equivalent);

b) A virement schedule;

c) details of any variance between the school’s and LA’s records on a regular basis (maybe at committee level)

7 In making financial decisions do you have evidence that you apply the principles of Best Value?

a) Do you CHALLENGE how and why services are provided to the school and consider alternative providers?

b) Do you COMPARE your school’s performance against other schools? How?

c) Do you have mechanisms to CONSULT parents, pupils and other stakeholders such as community groups? How?

d) Do you work to secure efficient and effective services for the school through the COMPETITIVE market?

e) Do you have a Best Value Policy?

8 How does the GB ensure that the budget is sustainable? How does the GB discuss surplus issues?

9 How do you consider/discuss Audit/OFSTED recommendations?

10 How does your school undertake medium to long term financial forecasting linked to the School Improvement Plan?

Each question in the Self-Review Tool should be answered using a simple traffic light status indication by writing in the status column one of three letters:

G – green We fully meet the requirements in this area

A – Amber We partially meet requirement – see notes for outline action plan

R – red We do not meet significant elements in this area – see notes for outline action plan


The full Self Review Tool from Ealing

http://www.egfl.org.uk/categories/governance/support/selfreview.html