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 August 2024
School types: AllSchool phases: AllRef: 8029
Contents
  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 financial procedures you must follow

Your school's financial policies should set out your financial procedures and controls, and specify which members of staff are responsible for monitoring and reviewing them.

Find support for writing or reviewing your: 

If you simply ask staff to read your financial policies,