No statutory information to include
However, the finance report should:
- Have an overview of the budget to date - i.e. the 'headline figures' of all the money your school has received and spent at the time of the report
- Summarise the key changes since the last meeting
- Contain commentary to explain things like:
- Whether something has changed since the last meeting and why
- Whether these changes were foreseeable
- What the consequences of the changes are
The budget, in contrast, shows all of your school's finances to date in detail with no explanations.
The report should state:
- What the budget was at the start of your school's financial year (April for maintained schools and September for academies)
- Expenditure to date
- How much money your school has left to spend in the remainder of the financial year
- What the predicted year-end figure is
Our associate education expert, Graeme Hornsby, told us this.
Your school business manager (SBM) should send your governors both the finance report