Business rates: academiesHow much business rate relief do academies receive? We explain that academies claim the 80% mandatory business rate relief from the local authority. We also look at how academies can claim the remaining 20%.
Cash flow forecasts: guidance for academiesIs there guidance for academies on preparing monthly cash flow forecasts? We look at the requirement for academies to manage cash flow, and relay advice from NASBM and an expert on monitoring and reporting income and expenditure. You will also find a sample cash flow forecast from NASBM and the ESFA.
Monthly financial management for academiesGet the information you need on the requirements of monthly budget monitoring reports for academy trusts. Here we also link to a template for these and guidance on what should be prepared.
Procedures for keeping track of money in schoolHow can schools keep track of money? We look at guidance from the Audit Commission on financial controls. We also relay advice from one of our associate experts on how to keep track of incoming cash, and guidance from another of our experts on petty cash management.
Statements of Internal ControlMust we have a Statement of Internal Control (SIC)? The Department for Education (DfE) no longer requires schools to complete a SIC, but local authorities may have their own requirements. This article links to a guide on completing an SIC, which includes an example.
Voluntary funds: what can they be used for?What can a voluntary school fund be used for? We highlight guidelines from the Charity Commission and a local authority on the use of voluntary funds. We also look at an example of how a school uses its voluntary fund and relay advice from the Institute of School Business Leadership (ISBL).