Appendix 1: Timescales for payment from Finance once approved
Lincolnshire County Council schools
On receipt of approved requests from the virtual school, LCC Schools Finance will notify schools via the monthly bulletin the confirmed allocation for their school. Schools will be notified when allocations can be viewed on Perspective Lite.
Prime account schools and academies
On receipt of approved requests from the virtual school, Finance will organise payment by BACS via Accounts Payable. Payment will be in the bank account on a monthly basis. In cases where the allocation is a first allocation, there is a potential in delay for payment, as the process for setting the school up as a new supplier will need to be followed.
Early years and other vendors
On receipt of approved requests from the virtual school, Finance will organise payment by BACS via Accounts Payable. Payment will be in the bank account on a monthly basis.