About this departmental advice
This is departmental advice on the consistent financial reporting (CFR) framework. The CFR framework aims to provide a standard for collecting information about schools’ income and expenditure to support benchmarking and enabling simple reports to be produced for governors and local authorities, which will help them to understand how a school uses its resources and to identify areas for further investigation or value for money reviews.
This advice provides the definitions for each CFR code to assist schools in mapping income and expenditure to the appropriate areas of the CFR framework.
Expiry/review date
This advice applies for the financial year 2012/13.
Who is this advice for?
- school finance officers
- business managers
- bursars
This guidance applies to maintained schools and is optional for PRUs and non-maintained special schools.
Key points
Governing bodies of maintained schools must provide the local authority (LA) with a financial statement, presented in accordance with the approved headings and sub-headings set out in this advice, and in compliance with the normal established accounting practices of the LA. This will include:
- Such school resources as have been received in a financial year, including any school resources which were unspent at the end of the previous financial year;
- The application in that financial year of any school resources; and
- A summary of the school’s financial position at the end of that financial year.
This advice provides information to schools and is split into sections:
- income
- expenditure
- capital
- balances
