Procedures for keeping track of money in school

Find advice for keeping track of money, setting up financial controls, and using petty cash funds in your school.

Last reviewed on 20 April 2022
School types: AllSchool phases: AllRef: 8029
  1. Set out clear procedures
  2. Financial controls
  3. Petty cash systems
  4. Financial control resources

Set out clear procedures

Clear, step-by-step procedures for handling money and financial transactions will help you keep track of funds and ensure good practice (read more about different types of procedures in the sections below). 

You may have specific procedures set out by your employer:

  • Maintained schools: make sure your procedures are in line with your local authority's (LA's) recommended financial procedures
  • Academies: Check your funding agreement and any trust-wide policies for any required financial procedures you must follow

Your procedures should also be consistent with any relevant financial policies you have. The policies should set out procedures, controls, and which members of staff have responsibility for monitoring and reviewing your financial procedures.

Find support for: 

If you simply ask staff