drb Schools and Academies Services is able to offer maintained schools a wide variety of strategic support, which is tailored to meet your specific needs in relation to annual budget setting.
drb will work with you and your School to define your Strategic Financial Management requirements and then recommend a bespoke service that complements your internal finance team.
Below are examples of drb’s specialist Strategic Financial Management support:
- Preparation of the school’s annual budget plan including presentation to the governing body
- Advice on the development and implementation of a three-year strategic financial plan ensuring that each element is clearly linked to the school development / improvement plan
- Ensure that the school meets all the current and future requirements, regulations and standards associated with Fair Funding and Local Authority financial procedures
- Production of regular independent multi-year staffing projections
- Budget monitoring and out-turn forecasting
- Regular meetings with the headteacher and lead finance administrator
- Advise the headteacher, lead finance administrator and governing body on changes, both national and local, which affect school funding and the implications of these changes
- Establish whistleblowing procedures and management of concerns
- Support to the Board of Governors to ensure compliance with Local Authority deadlines
- Deliver appropriate finance training to the lead finance administrator on new financial management requirements (subject to capacity within the time allocated)
- Preparation and submission of annual workbook for full cheque book schools
- Completion or advice and guidance on the financial returns required for the Local Authority
- Production of VAT returns, bank reconciliations and cash-flows
- Reconciliation and monitoring of control accounts e.g. salaries / VAT / creditors
- Production of Budget Monitoring reports for the finance committee at appropriate intervals e.g. termly, half-termly or monthly
- Advice and guidance to ensure ‘value for money’ is achieved
- Fund reconciliation
- Advice and guidance on School Inventory and Asset Register compilation
