Monitoring and Reporting 62: Finance report requirements for Maintained Schools
Posted on 12 May 2020 by Education Finance
With the continued position of schools being closed or partially open we have reviewed the upcoming report requirements
It has also now been agreed that, unless your school is subject to monthly monitoring, there will be no requirement to complete summer term FRS return.
We are still expecting to receive the Outturn FRS for 2019/20 from schools along with an detailed explanation for any surplus or deficit balances. Direction is set out in Scheme for Financing Schools (Click to view), Section 4 and there is a requirement after each financial year that the authority must publish a statement showing outturn expenditure at both central level and for each school, and the balances held in respect of each school.
The deadline for submission of budget planning documentation has now been postponed until 31 May.
We are expecting a 3 year budget plan using the guidance on the Devon Schools Finance pages https://www.devon.gov.uk/supportforschools/finance/budgets
Direction is set out in Scheme for Financing Schools (Click to view), Section 2.3