Financial standard package

Overview

This package provides schools, not buying into the full School Finance & Business Management Consultancy Service, with essential financial information in a format designed and tailored to fully meet statutory and regulatory requirements.

The information is provided on a monthly basis to all schools purchasing this package and has been developed in liaison with schools to ensure it meets all your financial management reporting and reconciliation requirements.

What the service includes

  • A summary of your school's approved revenue delegated budget and variance analysis
  • Provision of a multiple year budget template to ease required budget submissions in the format determined by the Authority
  • Monthly financial budget monitoring and detailed payroll and non-payroll transaction statements
  • Year-end final accounts information
  • Production of schools annual Consistent Financial Reporting (CFR) submission
  • Provision of CFR benchmarking  analysis charts comparing schools within Bury
  • Correction of errors, including journals and virements

Benefits to your school

The information provided has been developed to ensure individual schools benefit from user friendly and prompt financial management information.

Schools receive monthly budget management and detailed transaction reports electronically within a prompt timescale to ensure up to date and effective budget monitoring and any queries may be considered.

Costs

The Standard Package is available at an annual lump sum cost per school.