Local authority Schemes for Financing Schools
Each local authority has a Scheme for Financing Schools, which defines the
financial relationship between the authority and the schools in its area.
Schemes cover items for such as banking, accounting and audit
arrangements. The DCSF guidance describes what is to be included in
Schemes.
Schemes for Financing Schools: Directed
Revisions guidance, FAQs
The Directed Revisions guidance FAQs provide Local Authorities and
Schools with more guidance on what flexibility is available within
the existing regulations. If you have any queries contact Anita
McLoughlin. [Updated 27 January 2009]
Scheme for Financing Schools: Directed Revisions
In April 2006 the Department consulted on a number of revisions to the Secretary of State's guidance on local authority schemes for financing schools. In the light of this consultation and as provided for by section 48 of the Schools Standards and Framework Act 1998 the Secretary of State is to make a directed revision to local authority schemes covering the provisions consulted on. These revisions came into effect on 1 January 2007 (Updated 27 January 2009)
The direction relates to the four substantive issues the Department consulted on during last term and will have the effect of:
- placing a requirement on all local authorities to include a mechanism that controls surplus school balances;
- allowing local authorities to request multi-year budget forecasts from schools;
- allowing local authorities to specify how they expect schools to demonstrate their compliance with the Financial Management Standard in Schools; and
- allowing local authorities to issue a notice to schools whose financial
systems, processes and management are of concern.
Last updated: 27 January 2009
