Achieving value for money: guidance and resources

Read our advice on getting value for money when paying for goods and services. Find useful links to resources to help you manage your finances effectively.

Last reviewed on 6 December 2022
School types: AllSchool phases: AllRef: 4097
  1. Use DfE checklists and guidance as a framework
  2. Benchmark your finances to see where you can improve
  3. Regularly review your staffing costs
  4. Follow best practice in procurement
  5. Keep a contracts register
  6. Consider collaborating with other schools
  7. Find a framework for your school
  8. Make a school asset management plan
  9. Find more resources from the DfE
  10. Get support from an expert

Use DfE checklists and guidance as a framework

You're required to complete a checklist every year to show you're using your funding in the most effective way. There are two types of checklist:

Both checklists cover 6 areas:

  • Governance
  • School/trust strategy
  • Setting the annual budget
  • Staffing
  • Value for money
  • Protecting the public purse

Do you benchmark your income and expenditure and investigate further where any category appears to be out of line? Have you considered the results of the self-assessment dashboard or other DfE benchmarking tools? Do you have procedures for purchasing goods and services that both meet legal requirements and secure value for money? Do you give the governors/trustees the opportunity to challenge your plans for replacing contracts for goods and services that are due to expire shortly? Do you consider

The Key has taken great care in publishing this article. However, some of the article's content and information may come from or link to third party sources whose quality, relevance, accuracy, completeness, currency and reliability we do not guarantee. Accordingly, we will not be held liable for any use of or reliance placed on this article's content or the links or downloads it provides. This article may contain information sourced from public sector bodies and licensed under the Open Government Licence v3.0.