This article outlines advice for how you can monitor value for money – bear in mind that your LGB might do things differently.
What is value for money?
Value for money is making sure that what you spend money on is worth it – a good price for a good service/quality of goods.
It's also about making sure your school's spending is in line with its priorities.
How do I know if something is value for money?
The best way is to ask your headteacher or school business manager (SBM) – they should have done price comparisons to check.
Key sources of evidence will also help reveal if something is value for money, or not (some of these are outlined in the section below – 'how to monitor value for money in practice').
Monitoring value for money is a part of the second core purpose of trust governance: accountability and assurance.
You're