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How to monitor and scrutinise the budget in finance committee meetings

Find out what to do before your finance committee meetings and use our questions to help you scrutinise the budget throughout the year. It's a long read, but will help you go through your budget with a fine-tooth comb.

Last reviewed on 19 March 2024
School types: All•School phases: All•Ref: 30807
Contents
  1. What do I need to know and do before looking at the budget?
  2. What should I look out for in the budget?
  3. Ask these questions on different aspects of the budget
  4. Chair of the committee: report to the full board afterwards

Our associate education experts Angela Browne, Caroline Collins and Martin Owen helped us to write this article.

Are you looking to approve next year's budget? Find out what questions you can ask in our article.

What do I need to know and do before looking at the budget?

As a governor/trustee on the finance committee, you need to have some knowledge when you're looking at the current budget. This is because you're responsible for overseeing your school or trust's financial performance, which is 1 of your board's main responsibilities.

Know what your financial position is 

Is the budget heading for a deficit or surplus, or is it on track?

To stay up to date, use:

Use the red and amber ratings to quickly see