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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.
Contents
- 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
Also in this topic: Financial monitoring & reporting
- Academies Financial Handbook: changes from September 2020
- How to interrogate a finance report
- How to monitor and scrutinise the coronavirus catch-up premium
- Monitoring school finance: an overview
- Pupil premium: ensuring value for money
- Pupil premium spending: report to governors
- Risk registers: summary and guidance
- Schools Financial Value Standard (SFVS): summary and questions to ask
- The third core function: overseeing financial performance
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