About this departmental advice
This is departmental advice that relates to the schools financial value standard (SFVS). The SFVS has been designed in conjunction with schools to assist them in managing their finances and to give assurance that they have secure financial management in place.
This advice includes support notes for each question, which governing bodies can use if they wish. The notes provide clarification of the questions, examples of good practice and information on further support to assist schools in addressing specific issues.
The additional resources are included to provide governors with useful information and tools to help them complete the SFVS effectively.
Expiry/review date
No review date
Who is this advice for?
This advice is for:
- governing bodies of maintained schools;
- pupil referral units; and
- other interested parties.
Key points
This advice includes support and useful resources for governing bodies. The resources include:
- governing body example skills matrix;
- example definitions of respective responsibilities of governing body and staff;
- school staff example skills matrix; and
- setting a well-informed and balanced budget.
