Careful budgeting is critical for ensuring the correct running of a successful school.
The governing body is responsible for the oversight of the school budget, with the head teacher and the school finance teams running the day to day budget.
The governing body receive termly finance reports to monitor the budget which is interrogated in a committee.
Once a year, the full governing body approve the budget for the following financial year and evaluate the financial performance of the school through benchmarking exercises and the submitting of the the schools financial value standard (SFVS) which helps to provide schools with assurance that they are meeting the basic standards necessary to achieve a good level of financial health and resource management.
The SFVS checklist asks a number of questions of governing bodies in six areas of resource management to provide assurance that the school is managing its resources effectively. This is used to identify possible areas for change to ensure that resources are being used to support high-quality teaching and the best education outcomes for pupils.
Statutory Requirement to publish the number of employees (if any) whose gross salary exceeded £100k?
At Colebourne we have 0 (zero) employees whose gross salary exceed £100,000
You can also compare how a school or trust’s income and expenditure compares with similar establishments in England, using the Schools financial benchmarking website: Schools Financial Benchmarking – GOV.UK