Guidance about finance year end

Schools must finish all closedown tasks as early as possible and must not process any accounting transactions—such as purchase orders, goods received, invoice payments, or journal entries—after 31 March 2026.

However, payroll charges, procurement card transactions, and other end-of-month payments processed by OCC (through Hampshire IBC) will still be posted into schools’ accounts as part of the previous financial year.

Schools do not need to account for year-end accruals.

Other council services, such as meals and cleaning, will process charges before the financial year ends. Schools should prioritise internal trading documents to ensure timely processing.

Key Financial Tasks & Deadlines

• Capital Return (Due 31 March 2026):
  Schools must review their pre-populated figures and report any discrepancies to the council.
• Lease Return (Due 24 April 2026):
  Schools must declare lease details or confirm they have none, as required by IFRS 16.
• Local Expenditure Accounts:
  Schools must reconcile expenditures and ensure accounts are topped up before year-end.
• Voluntary Funds (Due 30 September 2026):
  Schools managing external funds must submit audited accounts to their Finance Adviser.

Important Dates

• 13 March: Complete all capital account transactions.
• 20 March: Process internal trading requests.
• 31 March: Final date to enter invoices for 2025/26 spending.

For assistance, schools can contact their Finance Adviser at Education Financial Services (EFS), Hampshire County Council.