Finance policy (academies): how to and examples

If you're writing or reviewing your finance policy, get advice on how to go about it, and see examples of policies from other academies.

Last reviewed on 7 September 2022

School types: All•School phases: All•Ref: 41571

Contents

This should include:

The Academy Trust Handbook – to develop a policy that covers aspects of finance in a workable order. Cross-reference your procedures with the handbook, and pay particular attention to section 2 of the handbook, which covers your main financial requirements
The financial management and governance self-assessment – to help you to cover most of the financial requirements you must comply with. Read the list of questions and make sure to consider how you would answer them when writing your policy

You should look at your policy as more than just a financial document.

Use your policy to cover areas such as:

Your school's decision-making structure, outlining the roles of different responsible groups
Business ethics
Financial planning and administration
Ordering and purchasing
Payroll
Insurance and risk management
School security
Asset management

You could also include your policies on:

It's good practice to do this