Central Bedfordshire Council Schools’ Termly Finance Seminars 26 th May 2011

1. Central Bedfordshire CouncilSchools’ Termly Finance Seminars26th May 2011 Rufus Centre Flitwick

2. Agenda 9.15 Introduction 9.20 Year-end feedback and Schools Balances 9.30 CFR 9.40 2011/12 Budget 9.50 Schools Forum 10.00 Payroll Invoices – Karen Damiano 10.10 DfE Consultations 10.20 Question & Answers 10.30 Tea & Coffee Break 10.45 Workshop on CFR – Ann Mathers

3. 2010/11 Year -End Thank you • Most schools achieved the deadlines set by our Corporate Services • Fully Funded schools returns not as good as in previous years, some incomplete, not balancing, not signed. • Letters will be sent to schools on any specific issues that needed to be raised and/or addressed and will be copied to COG. • Please ensure that year end training is attended if needed as well as workshop at seminar. • For new fully funded schools suggestion of a ¾ close as at 31st December. Schools to submit returns for training purposes in preparation for actual year end. Assistance at November workshop will be given.

4. 2010/11 Year End • SFA’s worked early mornings & late nights to ensure that everything that was sent in either by the deadline and even those that were received after the deadline was posted into the accounts. • Period 14 reports have been sent out last week • No further confirmation of balances will be sent until after CFR.

5. 2010/11 Year End Total Schools Balances £14.9M • Revenue Balances went up £2.6M to £10.5M • Capital Balances went down £1.6M to £4.4M

6. Surplus Balances • Schools Forum meeting on 20th June 2011 where proposals will be made regarding the approach for 2010/11 balances • Still need to submit Earmarked Funds form and back-up to B01 Committed Balances and reasons for excess balance in B02 with CFR return. • For 2011/12 No balance control mechanism will be in place although high balances will be monitored

7. Licensed Deficits • 17 Schools held LDs at end of 2010/11 • 1 school applied to use the 1% deficit tolerance • 1 School was over their agreed LD – will be reported to DFE as part of CFR return • Note that this may change following submission of Earmarked Funds

8. CFR

9. CFR – COLLECT Login • Schools should have two logins for COLLECT, one purely for SWR census, the other for census and CFR returns. • If schools don’t have a login and password please contact the DFE who will send by email. The LA do not hold these.

10. CFR Preliminary CFR returns to be submitted by 10th June, once agreed SFA will advise that finals can be submitted Final CFR returns by 17th June Submit using COLLECT – instructions available on schools website More details in workshop later

11. Earmarked Funding Form MUST ACCOMPANY PRELIM CFR – Deadline 10th June 2011 The final SBS figure can be entered as appropriate on the Earmarked Funding Form to calculate % allowable – if unsure contact SFA. Back up required for Earmarked Funds identified in B01 and planned timeframe for remaining balance – only permitted for Unspent Revenue grant Capital projects where written contract entered into Income relating to Headteacher/Senior Staff consultancy role

12. Earmarked Funding Form Explanation required if B02 Balance exceeds allowed surplus – must be sufficient to evidence need to Surplus Balance Sub Group should this be required To be signed by the Headteacher and Chair of Governors To be discussed at Governors Meeting. If the next Governors’ meeting is after 10th June – send in form with the date of meeting entered on it.

13. Budget 2011/12

14. Budget Plans due in 31st May 2011 Covering 2011/12 and 2012/13 financial years. Accompanied by Detailed calculations of staffing budgets Pay related and inflation factors for all years where different to those advised Budgeted balance sheet as at 31/3/2012, cashflow and profiled budget plan for 2011/12. Application for Licence deficit if applicable with robust recovery plan of not more than 3 years in total (include existing if applicable). No requirement to submit best value statement Statement of Internal Control – good practice to complete and may assist when completing new equivalent to FMSiS – keep in school

15. Budgets 2011/12 Section 11.12 of the Scheme covers Redundancy and Early retirements costs. Retirement costs fall to the school whereas redundancy costs are charged to the LA’s budget, (Be aware there are exceptions – see scheme for details) Process to follow :- • for schools who buy back CBC HR, contact HR who will provide a case for funding on the school’s behalf subject to approval 2. For schools not buying back CBC HR, a report template is available. Please submit to Finance in the first instance. Contact David Waller.

16. Schools Forum

17. Next meeting – 20th June 2011 Terms of Reference / Papers / Minutes available on the Schools website School Forum Regulations prescribe Membership / Meetings and proceedings / Consultation on financial issues Currently there is a vacancy for a Lower School Headteacher rep, please contact Martha Clampitt for more details. Martha.clampitt@centralbedfordshire.gov.uk

18. Schools Forum Reports being taken to June 20th Meeting:- • School Finance Update – providing the Forum with details of the year end out-turn position for Schools and Deficits (Licensed and Un-licensed) and proposals for Surplus Balances • Update on the DSG and Extended Early Years offer • Forward Plan detailing the expected papers to follow during the year • Update from the independent review of Education Capital (James Review) • School Contingency and Forum budgets

19. Payroll

20. Payroll Queries • Any payroll transactions coded to the ‘1’ account will be moved to the ‘3’ account by the SFA and HR will be notified to correct the payroll record for future payments. • Any re-codes regarding E0 codes need to be directed to HR on 0300 300 8134 or email HRServicesSchools@centralbedfordshire.gov.uk • For staff not appearing on schools payroll reports where timesheets have been submitted for payment please raise the query with SERCO who hold the timesheets. • To change the email address that your payroll report or your I&E report is sent to please notify your SFA.

21. Payroll • Discrepancies on payroll invoices should be directed to Karen in the Chief Accountants Team on 0300 300 6141 or email karen.damiano@centralbedfordshire.gov.uk • The invoice for payroll will state either direct debit or due within 14 days (in which case the school should send a cheque) • Please do not send any cheques unless a manual invoice requesting payment has been received.

22. Payroll • Please always quote your cost centre (ending in ‘3’) on all correspondence and state clearly what the query is in order for it to be directed to the correct person and dealt with as quickly as possible.

23. Consultations

24. DfE Consultations • National Funding Formula • Academies Pre 16 Funding • Schools Financial Value Standard (replacement for FMSiS) Link is available from the Learning portal

25. National Funding Formula Consultation • Two part consultation, first one closed on 25th May • Aim is to narrow the gap in attainment between deprived and non-deprived pupils, ensuring all funding for all pupils is fair. • Views were invited on the aims and objectives of the school funding system and the high level principles for any potential reforms

26. Academies’ Pre 16 Funding • Consultation closed 25th May • Runs alongside main consultation document. • Asks for views on when any reform might be introduced, however if not in place by 2012/13 the DfE believes there is a strong case for making changes to the way Academies are funded in advance of changes to the rest of the sectors.

27. Schools Financial Value Standard • Replacement to the FMSiS • Consultation seeking views ended on 30th April • applies to all maintained schools and takes the form of a series of questions which school governing bodies should formally discuss with their headteacher and other staff. • http://www.education.gov.uk/schools/adminandfinance/financialmanagement/a0075378/schools-financial-value-standard-sfvs-consultation

28. DFE Improving Efficiency in Schools www.education.gov.uk/efficiency One stop shop for efficiency tools & support. • Updated with advice and real life examples of how schools can make efficiencies • DFE added range of online efficiency tools • DFE making sure schools have access to the full range of available tools • Vfm.rescources@education.gsi.gov.uk

29. Current Issues • Bank statements for old imprest accounts please send to Gill Clarke • Invoices for School meals 4/12’s being sent out in next couple of weeks – contact: Richard Harrison • On-line banking £5 per month– view only access - advise the bank for business use not personal use platform – contact: Parmjit Teji with any queries

30. Question and Answer Session

31. Date of Next Seminar Tuesday 15th November 2011 Rufus Centre Flitwick 8.45am for coffee, 9.15am start