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Finance Service

By Jerry Young,2014-04-11 06:38
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respond to corporate requirements for more regular monitoring reports to committees, and to earlier close down of year end accounts

    Appendix 5

    Finance Service

    SECTION 1 Review of 2001/02

    Activity 1

     Corporate Priority Directorate Target Other Targets Provision of financial support as specified in Service Level Agreements with schools

     C6 E1/E4 EDP7.4 and 8.3

    Action BVPI LPI Other Outcomes Further action if appropriate See the attached description of schools’ Local service levels for a detailed analysis of actions timescales and undertaken targets in line

     with schools’

     requirements Development activities Working Group within team has identified Schools to be consulted and

    improved hard copy reports for schools to new reports commissioned ? improve the quality of regular financial

    choose from. from May 2002 monitoring output from SAMIS

    Not pursued, pending decision on future ? improve the reconciliation of SAMIS and

    financial system SIMS accounting records

    A number of additional training sessions ? formalise regular training sessions for new have been commissioned during the year. heads, deputies, acting heads and relevant school staff Termly monitoring now being produced to ensure that the appropriate level of ? monitoring of the Service Level provision to service is actually delivered to all schools. schools to ensure equitable and Time recording system in place comprehensive delivery to all schools;

    ensure adequate time recording systems

    are in place within the team

    Appendix 5

    Activity 1 (continued) Corporate Priority Directorate Target Other Targets

    Provision of financial support as specified in Service Level Agreements with schools C6 E1/E4 EDP7.4 and 8.3

    Action BVPI LPI Other Outcomes Further action if appropriate

    Access data base system refined and developed ? maximising links between systems for

    to maximise “one system” approach producing budget information and those

     used to deliver the schools’ Service Level

     Agreement

    Increased requirement for Enhanced service level

    during the year has been responded to. ? responding to schools’ requirements under

    Planner drawn up to enable schools to advance Service Level Agreements, particularly at

    plan meetings with support team. the enhanced service level;

    Not commissioned; wholesale review for April Start consultation process in obtain schools’ feedback

    2003 summer term 2002

    Flexible arrangements agreed with schools on an ? accounting for new Standards Fund individual basis approvals and requirements Improved plain A4 paper copy produced in June ? enhancements to the Annual Financial 2001 Statement by Governors to Parents, in

    terms of format and content of financial

    information

    Appendix 5

    Activity 2

     Corporate Priority Directorate Target Other Targets Overall monitoring of schools’ delegated budgets

     C2/C6 E1

    Action BVPI LPI Other Outcomes Further action if appropriate

    Monitoring the levels of schools’ surplus and Monitoring Net ?235k increase in overall schools’ deficit budget balances at year end against balances at 31 March 2001, but still

     criteria of: considered prudent level at 3.5%

     any deficit Agreeing with schools multi year plans where needs 19 schools with deficit budgets set for Positions will need to be short term budget deficits exist approval 2002/03, all with approved plans monitored in relation to impact

     between LEA of 02/03 budget. Monitoring through the year of schools’ and school; Monitoring report produced late autumn

    expenditure trends against approved Budget term, based on individual schools’ latest

    Plans Primary expenditure plans

     schools with

    Reporting to DMT and Education Portfolio surplus of Report to DMT in September 2001, and

    holders on schools’ overspendings and ?10k or 5% onwards to Scrutiny Panel

    underspendings against budget plans and

     secondary

     schools of

     3% or more

     require an

    outline of

    planned use

    Appendix 5 Activity 2 (continued)

     Corporate Priority Directorate Target Other Targets Overall monitoring of schools’ delegated budgets

     C2/C6 E1

    Action BVPI LPI Other Outcomes Further action if appropriate Development activities

    Schools consulted in March 2001. Format was Will be reviewed again for ? review the format and content of school

    reviewed and Income and Expenditure statements 2002/03 budget plans budget plans including carry forward

    processed separately. reporting

     ? further develop systems for storing and

    All within Access data base system integrating information coming from Budget

     Plans

     ? identify monitoring movements from agreed September 2001 report budget plan position, both school by school Develop mechanisms for and in aggregate reporting estimated position back to schools for ? improve carry forward statement Refined confirmation. presentation (surplus/deficit) ? improve the financial understanding of Through the enhance service level provision schools’ governing bodies ? establish regular and adequate financial Formalised through correspondence in summer reporting and monitoring processes for 2001 schools with their own bank accounts ? establish links with audit training for schools Ad hoc enquiries responded to, and general ? provide appropriate financial information to financial information now contained within the Advisory and Access teams Schools’ Performance Monitoring reports

    Appendix 5

    Activity 3

     Corporate Priority Directorate Target Other Targets Education Service budget maintenance, monitoring and reporting

     C2/C6 E4

    Action BVPI LPI Other Outcomes Further action if appropriate

Budgeting and accounting for the work of the Local Continuous service provision

    service, within the corporate framework, targets and

    including advising and supporting service deadlines

    management and providing statutory and to provide

    corporate financial information reports to

     DMT,

    Reporting to the Directorate Management Committee

    Team on all levels of financial activity and County

     Council

    Supporting Service Managers with budget

    monitoring and control

Reporting to member, committee and

    corporate structures

Development activities Appropriate financial reports and publications

    produced in line with requirements of ? respond to new local political and

    Strategic Manager Resources management structures

    Achieved through regular monitoring reports ? greater use of SAMIS based budget

     information for reporting processes, rather

    2000/01 closedown achieved by 30 June than internal spreadsheets and analyses

    deadline

     ? respond to corporate requirements for Formal monitoring reports produced in July, more regular monitoring reports to October and January committees, and to earlier close down of

    year end accounts

    Appendix 5

    Activity 4

     Corporate Priority Directorate Target Other Targets Production of statutory financial statements

     C6

    Action BVPI LPI Other Outcomes Further action if appropriate

    Section 52 budget and outturn statements Publication All statements produced as required

     deadlines

    Performance Indicators throughout

     the year

    Revenue outturn statement

Revenue Account estimates

Best Value Reviews financial information

LEA Ofsted financial information

Development activities

    Reporting in 2002/03 budget booklet in ? restructure budgeting, reporting and

    broad Section 52 format. New budget accounting structures in line with Section

    booklet produced summer term 2001. 52 formats

     ? maintenance of adequate working papers

    Achieved to meet District Audit requirements

    Appendix 5 Activity 5

     Corporate Priority Directorate Target Other Targets Monitoring and completion of all external grant claims

     C6

    Action BVPI LPI Other Outcomes Further action if appropriate

Standards Fund Ensure external All grants fully monitored and claimed

     body (DfEE) and within appropriate deadlines Mandatory Student Awards external audit

     certificate

    Capital Schemes - NDS/Formula Capital deadlines are

     met

    Teachers’ Pay Reforms

New Opportunities Fund

Early Years - Sure Start, 3 and 4 year olds,

    Childcare Partnership, European Social Fund

E.U. Milk Subsidy

Higher Education Funding Council

Learning and Skills Council (LSC)

Broadband projects Format and content of Headcount forms

     sent to Early Years providers was

    Development activities improved.

     ? responding to new grant funding

     requirements, particularly:

    Access data base, maintained by LSC, Broadband, Early Years and

    Personnel Section, produces grant claim Teachers Pay Reforms - including the

    and reimbursement schedules for reimbursement and monitoring of these

    schools claims to individual schools

    Appendix 5

    Activity 6

     Corporate Priority Directorate Target Other Targets Report and support to the County Finance Officer in respect of accounting standards and of Sections 114/151 duties as laid down in the Local Government Act 1972 and the Local C2/C6 Government Finance Act 1988

    Action BVPI LPI Other Outcomes Further action if appropriate

Continuous professional financial oversight of

    the Education Service accounts to ensure

    compliance with Financial Regulations and

    Accounting Standards

    Appendix 5

    Activity 7

     Corporate Priority Directorate Target Other Targets Compliance with Internal and External Audit requirements

     C6

    Action BVPI LPI Other Outcomes Further action if appropriate

Ensuring Financial Regulations are adhered to

    and that sound systems of financial control are

    in place

Maintaining clear and detailed working papers

    and documents to track financial transactions

    and verify claims for grant reimbursements

Development activities

    ? ensure that recording and claiming

    processes accord with corporate and

    external requirements

? provide appropriate financial training for

    schools and service managers

    Appendix 5

    Activity 8

     Corporate Priority Directorate Target Other Targets Maintenance and review of the Funding Formula for Schools

     C6 E1/E4

    Action BVPI LPI Other Outcomes Further action if appropriate

    Continual maintenance and updating of the detailed schools’ funding formulae

    Development activities

    A working group consisting of headteachers and Implementation date for a new ? review of the Funding Formula in line with

    officers has been established, and has met on a formula is April 2003 developments in respect of Fair Funding

    number of occasions during the year to review the requirements and the DETR’s Local

    current formula. Indicative financial models are Government Finance Green Paper

    being produced.

     ? respond to changes in the funding of Sixth

     Forms and incorporate these changes into

    Significant detailed analysis and interpretation of Consolidate non AWPU current processes and arrangements

    Learning and Skills Council funding statements element into future base

    has been undertaken during the year, and shared funding as neutral income /

    with appropriate headteachers and governors. expenditure

    Funding mechanisms for 2002/03 have been

    adjusted to incorporate the new grant funding

    from LSC

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