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Financial transparency: upcoming requirements for maintained schools
If you're in a maintained school, get up to speed with the changes to financial regulations coming into effect in 2021 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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