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 it'll help you go through your budget with a fine-tooth comb.

Last reviewed on 4 March 2022
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, Martin Owen, Angela Browne, and Caroline Collins 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 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's financial performance, which is one of your board's core functions. 

Know what the school position is 

Is the budget heading for a deficit or surplus? Are we on track?

To stay up to date, use:

Use the red and amber ratings to quickly see what's in need