- Overview
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We provide a structured and professional financial management support offer for maintained schools. Our services are designed to strengthen financial governance, improve the accuracy of financial planning and reporting, and enable schools to make informed decisions that ensure the best use of public funds
Schools can purchase support through one of three levels of service, Bronze, Silver or Gold, depending on the level of engagement and support required. Ad hoc support can also be purchased separately.
The Accountability Framework
The Accountability Framework sets out the expectations placed on schools, together with the support they can expect to receive from their finance business partners within the Schools Finance Team.
The framework seeks to ensure the right level of school participation in financial management processes, supported by effective finance business partnering.
Service Levels
Bronze Service
The Bronze Service provides essential core support including:
- access to the Schools Finance Helpdesk
- information and professional advice
- maintenance and closure of accounts
- VAT guidance
- a financial training programme for headteachers, administrators and governors
- provision of Business World (BW), the Council’s integrated finance, HR and procurement system that brings financial management, reporting and key business processes together in one place
- provision of School Business Services Financial Planner a cloud‑based budgeting and financial planning system designed for maintained schools, supporting the forecasting process, payroll reconciliation functionality and scenario modelling to support accurate and efficient decision‑making.
- support for the financial systems and tools used by schools (BW, School Business Services Financial Planner, Excel documents produced by Schools Finance Team), including assistance with functionality, data entry, reporting and troubleshooting
- support for payments and income
- access to a consistent financial reporting framework
Silver Service
The Silver Service includes all Bronze support, plus:
Two full‑day school finance support meetings per year delivered by your finance business partner over MS Teams.
Gold Service
The Gold Service includes all Bronze support, plus:
Four full‑day school finance support meetings per year delivered by your finance business partner.
Purpose of finance support meetings
Finance Business Partners will provide advice, support and guidance to schools based on Finance Regulations, procedures and operational guidelines. SFT Finance Business Partners are expected to cover the following areas:
- discuss any aged debt with the school
- discuss pupil number projections
- review all funding to ensure accurately included in the schools MTFP
- undertake reasonableness checks of all non-staffing costs for all funding streams
- review and discuss utilisation of all funding streams for all years
- offer guidance and direct schools to appropriate area when they have questions regarding their payroll reconciliation. Please note - Monthly payroll reconciliation will not be carried out by the team
- discuss the forecasting process and provide guidance and assistance where required
- discuss benchmarking and assist where necessary
- provide positive challenge to assist with scenario modelling
- highlight areas of risk and concern and advise on action where needed
- provide financial training/coaching where required
- Benefits
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- strengthens financial governance and accountability
- supports compliance with the Accountability Framework
- enhances the financial knowledge of headteachers, business managers and governors
- provides regular professional review and challenge
- improves the accuracy of budget planning, monitoring and forecasting
- supports effective decision making to ensure efficient use of resources in the interests of children and young people
- Cost
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The service is offered on an April to March financial year basis:
Bronze package: fixed cost plus a rate based on school phase and number on roll (NOR) taken from the October census
Silver and Gold: priced as Bronze plus an additional fixed cost
Full details are available on Perspective Lite:
LA Documents > Schools Finance Team >Budget Setting > 20XX-XX > Buybacks
- Contact
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Email: sbss@lincolnshire.gov.uk
- Request