Monitoring & Reporting 46: Miscellaneous Income and Expenditure
Posted on 20 February 2017 by firstname.lastname@example.org
As year end is almost upon us, can all schools ensure that they have cleared item / ledger codes 9389, 4901 (Miscellaneous Income / Expenditure) and 4311 (Other Fees and Charges) to zero. This can be done by submitting a journal to an alternative code using the Schools Online Journal Transfer System.
There is currently £2,703.13 (across 19 schools) sitting on Miscellaneous Expenditure and £343,257 (across 113 schools) on Miscellaneous Income. We appreciate that the codes are used for a variety of reasons (Revenue Team at County Hall being one), however it does need to be looked at and cleared to a more appropriate code – we recommend that you do this at least once a quarter.
This work is required to aid the Consistent Financial Reporting (CFR) return. You can use the CFR ledger code guidance to aid you in this task. Guidance can be found on the schools finance pages here.
Can you please ensure this is complete as far as possible by 13th March.
If this is going to be a problem for your school, want to check your current balance or need advice on where to code things, then please contact Lewis on Ext. 3584