Finance Administrators and Bursars Group

1. Finance Administrators and Bursars Group Jan Powley and Liz Burden 12 November 2014

2. Agenda • Welcome and Introductions – Jan Powley • Finance Survey Results – Liz Burden • SFVS – Jan Powley • FPS Update – Liz Burden • Presentation by Schools HR team – Sharon Dickman (am) Sharon-Harte Andrews (pm) • Coffee • Presentation by Internal Audit – Angela Shakespeare • Finance/School Funding Update – Jan Powley • Best Practice • Questions and Close

3. Finance Survey Results • Schools responded favourably with some constructive comments • Generally the service is perceived as highly performing – and we wish to continue this! • We constantly look to ways of improving our service • We take on board your feedback – your feedback is important to us!

4. Finance Survey continued • You said – we did! • Date presentation for governors reports from FPS – FABs meeting demo by HCSS • End of financial year checklist – now available on the grid • BACS payments – schools now using internet payments and Finance Manual up dated to include references for paying by BACS/Internet Banking

5. Finance Survey continued • Training courses and guides on HCSS School Plan module – we are happy to provide training • Send out the FABs agenda in advance and ask schools for suggestions - done

6. Finance Survey • Comments from recent survey: • Training of new business managers • More information on monthly income spreadsheet – Scheme 1 bank schools • Delays in responses when advisers are out of the office • Banking visits for the following year • Help understanding budget allocations

7. Finance Survey • Universal Infant Free School Meals (UIFSM) – Conflicting Feedback • Support for schools considering converting to an Academy

9. Q2 - If you are currently receiving the following services or have done in the past how would you rate them?

10. SFVS • All maintained schools completed the standard • 23 questions • Schools indicating Partial or No

11. SFVS continued • Question 1 – Does the governing body have adequate financial skills among its members to fulfil its role of challenge and support in the field of budget management and value for money? • Question 2 – Does the governing body have a finance committee with clear terms of reference and a knowledgeable and experienced chair?

12. SFVS continued • Question 5 – Are business interests of governing body members and staff properly registered and taken into account so as to avoid conflicts of interest? • Question 8 – Is there a clear and demonstrable link between the school’s budgeting and its plan for raising standards and attainment?

13. SFVS continued • Question 15 – does the school maintain its premises and other assets to an adequate standard to avoid future urgent need for replacement?

14. FPS Update • Pension Rates • National Insurance changes from April 2016 • Living Wage • Enhancements for 2015/16

20. School Funding Update • 2 Year Old Funding • Early Years Pupil Premium • Additional £2.5m • AWPU, Prior Attainment, MFG • No scaling back of gains • Additional £665k • 75% AWPU and 25% IDACI • PFI factor

21. Best Practice – Petty Cash • Poorly administered in some schools • Some schools claim not to use it! • Top-up monthly to your authorised “imprest” level

22. Best Practice and Guidance • Autumn term recompense up to and including 31st December – by 16 January 2015 • Regular reconciliation of VAT control accounts • When a VAT error occurs please process the correction • Proforma invoices and VAT • School Census • LMS Team meetings • Egress Switch

23. Best Practice and Guidance • Phone Bills – Toll Fraud/Phreaking • Website Publishing • Detail code for cash collections • CFR link for UIFSM grant • Consistent Financial Reporting Guide • School Financial Benchmarking website

24. Info about BT billing: • Call BT on 0800 3280133 • Quote Account Ref - LBC VP29000270 • Ask for an itemised bill for the month required and for the phone line • BT should be able to email you a copy of this - any problems contact Anayet Rashid on 548022.