Ashby School Financial Cycle (Appendix 1) Date Event Action Reason / Benefit March EFA publishes final funding allocations for forthcoming year commencing 1st Sept Start compiling Budget Projections document for presentation at Summer Finance Governors meeting, and approval at Summer Full Governors Provide assurance to governors and EFA that the academy will be in good financial health for the year. April Internal Audit visit The I.A. report will need to be presented at Summer Finance Governors 30th April Receipt of EOYC from Teachers’ Pensions by this date Forward to Payroll for completion May / June Governors Finance Meeting Present Budget Projections document Present Internal Audit report 31st May Deadline for Unaudited TP EOYC Completed unaudited EOYC to be submitted to TP (submitted by Payroll)
(Appendix 2) SIGNATORIES Headteacher Deputy Headteacher Business Manager Cover Manager Director of Professional Development Catering Manager Estates Manager Exams Director of Domestic And Catering Manager Chair of Govenors Contract Changes - Headteacher Sign Contract Changes – Teaching Staff Sign Sign initial Contract Changes – Support Staff Sign Sign Supply Staff Timesheets Sign Sign Sign Sign Premises Staff Timesheets Sign Sign Sign Catering Staff Timesheets Sign Sign Initial Invigilator Timesheets Sign Sign Initial Cleaning Staff Timesheets Sign Sign Initial Boarding Houseparent Timesheets Sign Sign Initial Boarding Domestic and Cleaning Staff Timesheets Sign Sign Initial Initial
(Appendix 3) Procurement Thresholds Orders and contracts less than £1000 Orders and contracts £1000 to £6500 Orders and contracts £6501 to £50000 Orders and contracts exceeding £50000 Orders and contracts exceeding EC Procurement Threshold* Budget allocation approval As part of the I&E broad headings As part of the I&E broad headings As part of the I&E broad headings. Additional specific approval at F&GPC meeting As part of the I&E broad headings. Additional specific approval at F&GPC meeting As part of the I&E broad headings. Additional specific approval at F&GPC meeting Order initiated by Budget Holder Budget Holder Budget Holder Budget Holder Budget Holder Order authorised by Finance Manager Finance and Business Director or Headteacher Finance and Business Director or Headteacher Finance and Business Director or Headteacher Finance and Business Director or Headteacher Best Value achieved by Benchmarking with approved suppliers by budget holder and Accounts Office Benchmarking with approved suppliers by budget holder and Accounts Office Obtaining 3 written quotes Formal tendering process. Tenders to be opened in presence of at least one trustee/governor Advertised in the Official Journal of the European Union (OJEU) Governors Finance and General Purposes Committee approval N/A N/A Where time permits approval should be sought at F&GPC meeting. However if time does not allow, eg. between meetings, approval of 2 from the following:- Any member of the 3 Members of the Trust Chair of the F&GPC. To be sought via email, and then reported to the F&GPC. Tenders to be approved at F&GPC meeting. However if time does not allow, eg. between meetings, approval of the majority of members to be sought via email and then reported to the F&GPC. At F&GPC meeting Occasions where 3 quotes are not practicable or cheapest quote is not the most suitable option N/A N/A Where time permits approval should be sought at F&GPC meeting. However if time does not allow, eg. between meetings, approval of 2 from the following:- Any member of the 3 Members of the Trust Chair of the F&GPC. To be sought via email and then reported to the F&GPC N/A N/A
Must appoint a statutory (external) auditor to certify whether the accounts are true and fair. Must put the external audit contract in writing as a letter of engagement. Must put additionally purchased financial services from the external auditor in a separate letter of engagement. Must provide in the audit contract for the removal of external auditors before the expiry of the term as set out in this handbook. Approved by Signed Date E Green (Headteacher) ……………………………….. ……………………. E Blunt (Chair of Governors) ……………………………….. …………………… D Heath ……………………………….. …………………… (Chair of Finance)