Schools Financial Value Standard support notes - Sections A and B
The section 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.
There are 23 support notes, one for each question of the standard providing further information.
You can download the support notes for sections A and B from this page (Section C and D available on the next page).
A: The Governing Body and School Staff
1.Governing body and staff have adequate financial skills
2. Governing body have a finance committee (or equivalent)
3. Definition of responsibilities of governing body and school staff
4. Monitoring reports of the school’s budget position
5. Business interests of governing body members
6. Access to an adequate level of financial expertise
7. Review of staffing structure
B: Setting the Budget
8. Link with school budget and its plan
9. Forward projection of budget
10. Well-informed and balanced budget
11. Outturn in line with budget projections
