Financial Management in Schools
Log on to the Schools Financial Benchmarking tool
This area of TeacherNet enables you to prepare charts that compare your
school's income and expenditure profile with that of similar schools.
Full guidance on using the Schools Financial Benchmarking tool can be obtained by clicking the 'Help' link at the top of the benchmarking home page and also by referring to the Schools Finance Pack (available on the Value for Money website).
Access the Financial Management Standard & Toolkit
This website contains a self-assessment tool designed to enable schools to
evaluate their own performance against a nationally recognised statement of
good practice as well as identify areas for development.
*NEW* See the FMSiS guidance (external assessment)
For each element of the Standard, this tool shows the evidence that governors and senior managers in schools should expect to see to confirm compliance with the Standard.
Supporting Schools Financial Management
(SSFM)
A good-practice site, with information and advice for LAs on how to provide effective strategic and financial management support to schools. School Finance Officers and registered users click here to go straight to the SSFM Toolkit.
Other useful sites
The Centre for Procurement Performance (CPP) is a new unit set up by the Department to promote better procurement across the education, skills, children and families system. The CPP website has information on the role of the unit and its key objectives and principles.
You can access the Audit Commission site for a range of information on school finances. There are also self-evaluation tools on this site, which allow schools to test their financial management arrangements against standards set jointly by Ofsted and the Audit Commission. Candidates registered for the National Professional Qualification for Headship can set up a dummy school so that they can explore the principles of good resource management.
There is a DCSF Value for Money website on how to get the most economic, efficient and effective services. It contains useful information on school expenditure, good practice guides for head teachers on different aspects of school management and value-added performance data.
Background information on School Accounts and the role of the Audit Commission in school accounting is outlined in the A to Z of School Leadership.
