The financial framework for schools is set out in the scheme for financing schools, which is approved by the Secretary of State. The practical day to day application is set out in the financial manual of guidance, which also includes links to the County Council, Constitution, Department for Education website and the best practice advice from the Audit Commission.
The local authority provides additional guidance to be followed by all schools maintained by the authority.
Supporting excellent school resource management
On 31 August 2018 colleagues at the DfE issued guidance intended to help and support for schools reduce cost pressures and make every pound count. This Guidance “Supporting excellent school resource management” is available here and includes access to two documents “Supporting excellent school resource management” summarising the help and support the DfE provides to help schools reduce costs and achieve value for money and “Supporting excellent school resource management: strategy” describes in full the help and support – both existing and planned – that the DfE is making available, and provides an analysis of school spending.
The documentation is intended for use by school leaders, school staff and governing bodies and applies to all local authority maintained schools as well as academies and free schools.
Please bring the content of this to the attention of your school’s governors, headteacher, senior management team members and those involved in finance at your school as soon as possible.