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Last reviewed on 9 September 2021
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School types: All · School phases: All

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.

This article is based on the government response to the 2019 consultation on financial transparency of local authority (LA) maintained schools.

The requirements in this article will be carried out by your school leaders and/or finance lead. As a governor, you need to know what they are so you can monitor compliance.

Submit a 3-year budget forecast to your LA

When: Between 30 May and 1 June of each year, starting in 2021/22 

There'll understandably be a degree of uncertainty when your school provides a 3-year forecast, so the DfE recommends your school plans for a range of scenarios.

When you're presented with the budget to approve each year from 2021/22, it should feature a 3-year forecast.

This is set out in the government response to proposal 3. 

Record and declare related party transactions (RPTs)

Your school will

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