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Financial advice and information

We can provide maintained schools with financial advice and information covering statutory requirements. We can also provide tailored support to meet your specific needs. This can include providing assistance with budgets, end of year closedown, advice on budgetary control and ledger management throughout the year.

What we offer

  • provision of annual detailed information, over and above the statutory requirement (basic Section 251 data) as an aid to school’s budget setting (for example, salary and SLA costs)
  • assisting and advising schools in setting their budgets as required
  • calculation of budget plan(s), including adjustments to the payroll costs
  • advice on national salary scales (including on-costs)
  • advice on strategic financial planning options
  • access to HCSS budgeting software for budget planning. This allows schools to create their own online budget plan and roll this forward for up to five years, taking account of staff progression and projected changes in pupil numbers. The software is maintained with settings specific to Durham, eg the formula and pay grades.

  • provision of revenue and capital budget monitoring statements on a monthly basis provided in summary and detailed format, suitably annotated including all budget updates as notified by schools
  • advice on the interpretation and implications of the monthly budget monitoring statements as required
  • strategic advice on the implications of budget monitoring statements

  • budget virement, including appropriate procedures for income Preliminary and final end-of-year close down procedures
  • routine FMS procedures involving the reconciliation of salary & central transactions and clearing such items from suspense. N.B. queries relating to invoice payments, their reconciliation & clearance from suspense should be referred to the payments and expenditure, and income and reconciliations teams
  • verification of information downloaded to school FMS records
  • interpretation of all income streams

  • budget projections
  • compilation of individual school’s annual Consistent Financial Reporting (CFR) return, including production of the annual (CFR) report
  • Ofsted paperwork assistance

All services are provided via telephone, remote link or through on-site support. In addition to the services above, schools can also purchase additional support if required.

Duration of SLA: One year “rollover”

Period of notice: 3 months