Budget Forecast Checklist
Description / Notes / Additional Guidance / CompleteINCOME / GAG / Separate entries for Pupil Led / ESG / Other factors etc. / Use the funding statement received for 2017-2018
Pupil Premium / Remember Oct Jan & Apr payments from the EFA relate to financial year 2017-2018 the July payment is from the next financial year allocation. / Take care as the Pupil Premium allocations cross over our financial year. 4 equal payments made during the year.
Allocations are taken from the January census. Check the DFE website as they publish the individual allocations during April.
UIFSM / Provisional payment for 17-18 is 7/12 of final payment due in July (see separate guidance) / Average allocations are taken from the Oct and Jan census. Remember to take off any FSM children. Check the DFE website as they publish the individual school allocations in June.
Sports Funding / Lump sum of £8000 + £5.00 per pupil / Paid in November (7/12ths and May 5/12ths)
Rates / Ensure you submit your on-line claim each year
Local Authority Revenue Income / Remember to include your high needs /monthly top up income / Monthly top up information from the local authority
Parent contributions / Ensure you enter the amount you are certain to get in.
Other Income/ Donations / Establish any other streams of funding not included above
Expenditure / Central Support Charge / 5% of GAG only (taken from funding statement) / Use the funding statement total for 17-18 issued in February
Rates / Remember you receive 80% Mandatory relief – check you have only been charged for 20% / You will be invoiced from the Local Borough Council – please send a copy of the invoice to PDET (not necessary if scanned into PSF)
UIFSM / Paid 7/12ths in November and 5/12 in May / Remember to include the expenditure for school meals
FSM/School Meals / Remember to include the expenditure for school meals/staff meals
Insurance / Buildings & Contents
Other Insurance / Staff absence /travel cover etc.
Agency Costs
Salaries / Remember to include the apprentice levy for 0.5% applicable from April 17 onwards Check allocation covers a full year including any changes.
Please note there is an option to separate staff overtime in PSF / Check pension and NI rates have been updated.
Check whether performance related pay is set to automatic or not.
Check contract end dates have been entered where applicable.
Carry Forward / Carry Forward Balance / You will need to estimate your carry forward balance to include the amount. / This will be your retained earnings plus or minus the in- year profit or loss total.
Review your commitments and variances to consider and update what is still to be paid/received.
FUNDS / Allocate against a restricted total and an unrestricted total / This should enable easier monitoring of the spending on restricted and unrestricted.
CAPITAL / Income / Paid in June - £4000 + £11.25 per pupil
Expenditure / You can reduce your revenue expenditure and include expenditure within the Capital line / Ensure your item of expense qualifies to be classed as Capital expenditure.