EDUCATION FINANCIAL SERVICES
Accountancy and Financial Support Services
September 2016 – August 2017 support for Community Learning Partnerships
Education Financial Services provides a wide range of services to support schools and other customers with effective financial management and administration. Our range of customers currently includes Schools, Academies, Community Learning Partnerships, Children’s Centres, and Leisure Centres. We are able to adapt our service to meet the special requirements of our individual customers.
Our team includes qualified accountants with many years’ experience of working in finance in education. We are committed to providing a responsive and flexible service to help you achieve effective, efficient and robust financial management of your budget.
The Base Package is at the root of the support available from EFS and includes off site support through a helpline and access to many resources.
In addition to the Base Package, CLPs using FMS can purchase the Base SIMS FMS Package.
To supplement the Base Packages, CLPs are able to choose from a number of menu options to create their own bespoke level of support.
The Base Package includes –
· Calculation of Levy Charges
We will calculate each school's levy charge using the individual CLP’s levy formula.
· Collection of Levy Charges (Central Payment Schools only)
We will collect the levy charge to the holding account school by transfer journal. (We are unable to offer this service for local payment schools and academies, as the CLP will need to raise an invoice directly to the establishment concerned)
· Central transfer of salary costs
We can arrange for payroll costs to be coded to a central CLP management code, which avoids these transactions showing against the holding account school’s expenditure. On a monthly basis we will re-charge the cost of these payroll transactions, by raising an invoice to the CLP.
· External Funding Service
We will carry out funding research for specific projects and provide you with regular updates on grants and external funding available. We will also provide you with access to the Grants 4 Schools website
The Base SIMS FMS Package is available for purchase by those CLPs that are using SIMS FMS and is the minimum recommended level of support for such CLPs.
· Helpline
We will be available to take your calls between 9.00 am and 4.30 pm during the term time and between 9.00 am and 3.00 pm during the school holidays. Calls are normally answered within 6 working hours, but calls requiring support from a specialist Senior Finance Officer may take longer.
In order to efficiently resolve your financial queries, we may remotely access your computer and with more complex queries we may recommend a chargeable site visit.
The Helpline will be closed for up to 5INSET days and from Christmas Eve to New Year inclusive.
· Financial Advice and Guidance
You will have access to Financial Circulars, Guidance Books and ‘Finance Matters’ newsletters which provide advice on financial management and administration.
· SIMS (FMS) Upgrades/Change Requests
We will work with e-Learning and Information Management (eLIM) to release new or upgraded SIMS FMS versions. If necessary, we will provide guidance on new or revised procedures.
We will liaise with CAPITA Education Services to request improvements to SIMS FMS if required.
· SIMS (FMS) System Errors
We will provide technical advice and support in using SIMS FMS and investigate system errors that you might encounter. If necessary we will liaise with eLIM (e-Learning and Information Management) and CAPITA Education Services to rectify these errors; however, where the error is found to have originated from the school, we reserve the right to make an additional charge.
· Pre-Printed Stationery and Proforma
To enable you to maintain and manage your financial records we will provide you with a supply of controlled order stationery and various financial pro-formas.
· Contact
We will allocate you a Senior Finance Officer who will provide you with a professional and expert service. They will deliver any on-site support that you purchase.
· Subscriber's Discount
Purchasers of the Base Package receive consultancy services and training at a 30% subscriber's discount. Prices shown in the order book on SSTEP include this discount.
These can be purchased to supplement the packages -
Menu option for all CLPSEFSLA110 - Financial Support Visit
These visits (multiples of 3 hours 15 minutes) provide flexible support in financial management/administration to meet your individual needs. You may wish to puchase support visits to assist you with:
· Your monthly bank reconcilation
· System checks and processes
· Your monthly VAT return
· Completion of Year End Forms
You may also like to purchase these visits as awareness and knowledge sessions, for example, we are able to offer a visit to explain the rules for recovering and charging VAT.
Menu options for CLPS using SIMS FMS
· EFSLA111 - Chart of Accounts
The CLP’s individual chart of accounts (cost centres and ledger codes) needs to be created and reviewed each year to ensure it meets the needs of the CLP. We will support you to -
Open up a new financial year in SIMS FMS
Transfer cost centre and ledger code information between years
Tailor ledger codes and cost centres to meet the management information needs of the CLP
Print a chart of accounts report for the new financial year.
· EFSLA112 - Closing of Accounts
During the summer term, we will visit to assist in the closing of the previous year’s financial accounts. We will carry out preliminary and final system checks, close the accounts on SIMS FMS and allocate balances in the new financial year.
If the menu options do not meet your individual requirements or you require additional support during the year we can provide support on a consultancy basis. All consultancy visits will incur a minimum charge based upon 3¼ hours.
Possible reasons for consultancy:
· Bank Reconciliation and Checks (available to CLPS using SIMS FMS)
We can provide training in undertaking the reconciliation between SIMS FMS and your bank account.
· Cover for Key Finance Staff
If key finance staff are absent we can provide cover to ensure financial tasks are continued.
If you would like to purchase support from EFS, please email your requirements to:
Jane Hooper, Finance Manger (Education Financial Services)
Your CLP order will then be added to the SSTEP (Somerset Services to Education Providers) system and you will be invoiced on a termly basis.