The third core function: overseeing financial performance

Our associate education experts Graeme Hornsby and Matt Miller helped us to write this article.

Get a handle on the basics

Familiarise yourself with how your school is funded so you can understand the budget and ask better questions.

You also need to know what responsibilities have been delegated to your board. If you’re:

• A maintained school, read your local authority's scheme of financial delegation
• An academy, read your scheme of delegation 
• On a local governing board (LGB), find out about your role in finance

The board's role

All governors have financial responsibility. However, you don't need to be an expert, and you won't be involved in everything.

Your job is to make sure that:

• There's financial oversight
• Leaders are held to account 
• Money's spent correctly, and
• Spending is in line with your school's priorities

You only need to understand