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Financial transparency: requirements for maintained schools
Get up to speed with the changes to financial regulations for maintained schools to improve financial transparency. Find out what your school is required to do, so you can monitor compliance.
- Submit a 3-year budget forecast to your LA
- Record and declare related party transactions (RPTs)
- Submit a recovery plan to your LA if your deficit rises above 5%
- Publish the number of individuals earning over £100k, in £10k bandings, annually on your school's website
- Publish a link to the 'schools financial benchmarking' website on your school's website
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