FINANCIAL SERVICES FOR SCHOOLS

Schools’ Financial Value Standard - ‘Time Out’ Workshop

Why not come along to an informal workshop and spend some time out from your school to begin the process of completing the SFVS? You will be supported by experienced staff from FSS to help you with any questions that you may have. The Standard consists of 23 questions, which will be set out on a template, so bring along a memory stick to copy your responses on to which will facilitate completion at a later date.

This session is open to the Headteacher and a Governor from all maintained schools.

Date / 5th February 2013
Date / 12th February 2013
Venue / Robertson House, Stevenage
Time / 09:30 to 12:30
Cost per school / £110:00
To book contact / Marylin Walker on 01992 555714 or email

Please note, these are currently the only advertised dates for Financial Services for Schools SFVS 'Time Out' Workshops. We are aware of other courses delivered by 3rd parties, including some that have been run on HCC premises. These events are not part of the FSS training programme and have not been arranged by HCC. We are therefore unable to comment on their quality assurance.

Please see below an extract from the DFE website regarding the new SFVS.

What is the SFVS and who is it for?

Schools manage many billions of pounds of public money each year. Effective financial management ensures this money is spent wisely and properly, and allows schools to optimise their resources to provide high-quality teaching and learning and so raise standards and attainment for all their pupils. The SFVS replaced the Financial Management Standard in Schools (FMSiS) and has been designed in conjunction with schools to assist them in managing their finances and to give assurance that they have secure financial management arrangements in place.

Governing bodies have formal responsibility for the financial management of their schools, and so the standard is primarily aimed at governors.

What do schools need to do?

·  The standard consists of 23 questions which governing bodies should formally discuss annually with the head teacher and senior staff.

·  The questions which form the standard are in sections A to D. Each question requires an answer of Yes, In Part, or No, with comments.

·  In Section E, governors are required to summarise remedial actions and the timetable for reporting back. Governors should ensure that each action has a specified deadline and an agreed owner.

·  The governing body may delegate the consideration of the questions to the finance or other relevant committee, but a detailed report should be provided to the full governing body and the chair of governors must sign the completed form.

·  The school must send a copy of the signed standard to HCC’s Internal Audit department.

There is no prescription of the level of evidence that the governing body should require. The important thing is that governors are confident about their responses.

Timetable – key dates

·  All maintained schools are required to complete and submit their SFVS evaluation by 31 March 2013, and are required to complete an annual review thereafter.