16. Tender Acceptance Procedures 16. Tender Opening Procedures 16. Evaluation Procedures 16. Payment of Invoices 17. Electronic Payments and Purchasing 17. School charge card and internet orders 18. Purchases of “Apps” for ipads 18. School Shop 18. Cashless Catering 19. Boarding Purchases 19. Payment from Sponsors 19. Trading with connected parties 20. Section 7 - Income 20. Fees and Charges and debt recovery 20. Trips 20. Lettings 21. Custody 21. Boarding Income 21. Section 8 – Cash Management 21. Bank Accounts 22. Deposits 22. Payments and withdrawals 22. Administration 22. Petty Cash Accounts 22. Deposits/payments/withdrawals 23. Administration 23. Physical Security 23. Cash Flow Forecasts 23. Investments 23. Boarding Petty Cash 23. Section 9 – Fixed Assets 23. Asset Register 24. Security of assets 24. Disposals 25. Loan of Assets 25. Boarding House Asset Register and Inventory 25. Register of Pecuniary Interests/Gifts and Hospitality/Whistle Blowing 25. Document Retention. 25. Section 10 – Financial Monitoring and Management Academies handbook limits content Appendix 1 – Financial Reporting Timetable Appendix 2 - Signatories Appendix 3 – Procurement Thresholds Appendix 4 – Disposals, borrowing, severance, compensation, ex gratia payments Ad-hoc payments, gifts, trading with connected parties, general annual grant. Appendix 5 – Statement of Accounting Policies Appendix 6 – Schedule of Requirements (the ‘musts’)
Ashby School Financial Cycle (Appendix 1) Date Event Action Reason / Benefit March ESFA 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 ESFA 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) 31st May Deadline for filing previous year’s accounts with Companies House. Previous year’s accounts to be filed (in accordance with nine months after year end rule).
December /January Compile Accounts Return (by MacIntyre Hudson) using information in approved Financial Statements by 22nd January. Support a number of Treasury and departmental requirements, including the preparation of consolidated accounts and benchmarking data. 31st December Deadline for filing Financial Statements with ESFA. Filing of Governors report and annual accounts for the period ending 31 August. 31st January Deadline for Submission of Accounts Return MacIntyre Hudson send on our behalf. Needs to be signed by Accounting Officer and External Auditor. 31st January Deadline for publishing accounts on School website. Publish copy on School website
(Appendix 2) SIGNATORIES Headteacher Deputy Headteacher Business Manager Cover Manager Director of Professional Development Catering Manager Estates Manager Exams Officer/ Assistant Director of Boarding Domestic and Catering Manager Chair of Governors Contract Changes - Headteacher Initial 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 on financial management system Finance Officer Business Manager or Headteacher Business Manager or Headteacher Business Manager or Headteacher Business Manager 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. Vice Chair of Governors 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. Vice Chair of Governors To be sought via email and then reported to the F&GPC N/A N/A