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:
- Academy trusts must submit a school resource management self-assessment checklist
- Local authority (LA)-maintained schools must submit the Schools Financial Value Standard (SFVS) checklist to their LA
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
