RM Finance
USER BULLETIN No. 201
May 2014
Included in this Bulletin:
- Children Centre Brought Forward
- New Budget Code for Children Centre Return
Financial Systems Helpline
Tel No: 01992 555713
email :
Herts for Learning
01438 845111
Children’s Centre – Brought Forward Balances
Bulletin 200 advises schools to post the brought forward balances to budget code CCBF. This is incorrect.
The correct budget accounts are;
Grant brought forwardCC1GBF
Locally Generated brought forwardCC1OBF
Please note that this is updated advice. Apologies.
Children’s Centre – New Code
This year Children Centres will receive an additional one off grant payment. The income is for this year only and should be spent in this financial year on the core elements of running a children centre.
The additional grant line will be shown in the children centre return on its own under budget CC1ADD with a description of CC1 Additional one off payment.
To set the new budget up in RM Finance
ZYI16 CC1
In RM Finance > Records > Budget Accounts > New record
Budget AccountCC1ADD
DescriptionCC1 Additional One Off Grant
Budget HeadingXYI16 CC1
Budget GroupCC
Click on Ok
An example of budget accounts for the Children’s Centre is shown on the final page of this bulletin
The budget accounts and budget headings must be set up in exactly the same way
Posting the Operational Fee
When you post the operational fee you should post the income to the school as follows;
Income to I01 700205CCOPFEE
You should post the other side of the operational fee as
Income Adjust/Correct to I16 720725
to each of the budget accounts that make up the operational fee
Examples:
Line ManagementCC1LIN
CRB CostsCC1CRB
HR SupportCC1HRS
Payroll CostsCC1PAY
Staff insuranceCC1SIN
Financial servicesCC1FIN
IT SupportCC1ITS
The operational fee transactions in RM Finance can then be reconciled in the bank, the total will come to zero.
Processing the transactions in this way will ensure the following:-
- The Children’s Centre Return will look correct.
- The LMSFR3 will look as if the Children’s Centre Grant is reduced by the operational fee.
- I01 will be increased by the operational fee
The CC Return Form 2013 2014 has been created with input from the Children Centre Team.
It must not have any other columns or lines added to it.
For system related queries please contact Financial Services for Schools.
For policy related queries please refer to the Budget Preparation for Children Centres.
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