Finance policies

You aren't required to have a finance policy

You're not required to have an overarching 'finance policy'. However, you do need certain policies related to finance. Department for Education guidance explains that you need: 

• A charging and remissions policy (both maintained schools and academies)
• A teachers' pay policy (maintained schools only)
• A governors’ allowances and expenses document (maintained schools only)

Some schools choose to present these policies in one finance policy document. 

Primary school examples

Community school in Doncaster

Toll Bar Primary School’s finance policy sets out:

• The school's financial organisational structure
• The specific responsibilities of different groups
• Financial systems and processes such as budgeting, purchasing and petty cash
• Financial reporting schedules
• The charging and remissions policy 

See it on the school's website. 

Academy in Lincolnshire

Keelby Primary Academy has adopted its multi-academy trust's (MAT's) finance policy and procedure manual. 

It covers areas such as:

• Financial planning
• Payroll
• Purchasing 
• Debt management
• Cash management

The policy can be accessed from the school's policy page. 

Secondary school examples

The Aspire Academy has a finance