St Clare S School

ST CLARE’S SCHOOL

FINANCIAL DELEGATION POLICY

Ratified by Governors ______

Chair of Governors ______

To be reviewed April 2016

ST CLARES SCHOOL

FINANCIAL DELEGATION POLICY

RESPONSIBILITY AND ACCOUNTABILITY

1THE GOVERNING BODY

The Governors are responsible for the effective management of the school’s financial resources, for receiving information from the Head teacher including a model budget, financial updates, the school’s Improvement Plan and curriculum objectives with costs where possible. Governors must ensure that there are good accounting practices within the school, with clear lines of accountability and for monitoring stock inventories and agreeing to write off equipment.

2.FINANCE AND PERSONNEL COMMITTEE TERMS OF REFERENCE

This Committee will be responsible for considering all aspects of the finance and personnel at St. Clare’s School.

2.1 FINANCE

This Committee will:-

(a)ensure that the budget reflects the school’s curricular aims and School Improvement Plan

(b)propose a draft annual budget for the school to the Governing Body

(c)monitor the budget at least half-termly and report on the progress at the full meeting of the Governing Body

(d)undertake long-term financial planning for the school

(e)make proposals for income generation and monitoring

(f)ensure that proper financial records (including fund raising accounts) are kept in line with ORACLE financial systems

(g)ensure that all financial transactions are dealt with in accordance with the LA’s regulations, accounting procedures and the Direct Invoicing finance system

(h)deal with any financial matters of urgency, as requested by the Chair of Governors or the Head, when it is impractical to call a full Governors’ meeting

(i)liaise with other Committees about financial implications of their business

(j)monitor and review the school’s “Charging Policy” ( for pupils )

(k)ensure that the school, it’s contents, activities and public liability is adequately insured

(l)This Committee has adopted the policies of the Authority and will give due consideration to the four principles of “Best Value”

• Challenge
• Consultation
• Competition
• Comparison

2.2 PERSONNEL

The Committee will:

(a)agree a “Pay Policy” in line with National and LA recommendations

(b)monitor effectiveness of Pay Policies

(c)make recommendations about staffing numbers and levels of pay to the Governing Body

(d)comprehensively monitor all job descriptions annually and make recommendations as necessary

(e)monitor the allocations of allowances and any discretionary payments

(f)monitor staff training and professional development opportunities

(g)make recommendations on suitable disciplinary procedures which might have to be instituted against members of staff, and to monitor same

(h)take responsibility for the policy with regard to appointment procedures and their implementation for all teaching and non-teaching staff

(Detailed arrangements will be the responsibility of the Head teacher)

(i)together with the Head teacher and a member of the Governing Body, provide membership of the short listing and appointment panels for all posts (except in the appointment of a successor to the Head teacher when the Chair of Governors and the Teacher Governor should be involved), subject to the agreed structure

(j)ensure that the school policies on equal opportunity are taken into account in all matters pertaining to staff selection, interview, employment, grievance and discipline

(k)monitor and review all the above procedures and recommend modifications, which may be necessary in the light of experience and changes in the law or school situation.

3.THE HEAD TEACHER

The Head teacher will be responsible for:

researching, estimating and modelling the annual budget in conjunction with the Committee

providing a written statement of aims in the School Improvement Plan

implementation of the school’s agreed aims within the agreed budget

establishing good accounting and financial practices and procedures as required by the LA and the Governors, ensuring the school’s prioritised educational objectives and seeking best value for money

authorising invoices in ORACLE

the Head teacher, in conjunction with the Committee, to be responsible for periodic reassessment or reallocation of the budget, when appropriate

reporting virements between budget accounts

ensuring that stock is recorded, stored and checked in line with LA procedures

arranging for inventories to be checked annually

4.THE SCHOOL FINANCE AND BUSINESS MANAGER

The School’s Finance and Business Manager is responsible to the Head teacher for:

researching financial and statistical information relating to the information of the school budget

profiling the budget and monitoring the budget against the profiles and keeping the Head teacher and Committee informed of its progress

overseeing of the financial procedures and practices within the school, ensuring good accountability

ensuring estimates and tenders are properly organised, adequate records kept and that these are available for inspection

administration of the school computerised systems, including security of information

operation of the school bank accounts

administration of the voluntary accounts

administration of petty cash

day-to-day payment of invoices and checking of statements

provide Curriculum Co-ordinators with monthly budget monitoring sheets

5.DELEGATION OF FINANCIAL LIMITS BY THE GOVERNORS

The Committee delegate authority to the Head teacher for expenditure on a single item up to the sum of £5,000 within budget restraints. (This figure to be reviewed annually.) This does not apply to building services and supplies such as Gas, Electricity, and Rates etc.

The school should abide by the LA Regulations on estimates and tendering and as good practice ensure that the following outline is adhered to:

Below 5,000 obtain at least 1 quote (good practice to obtain three)

5,000 to 30,000obtain 3 written quotes

30,000 +seek tenders

These financial parameters should be reviewed annually at the time of budget review prior to the setting of the following year’s budget.

6.DELEGATION OF FINANCIAL RESOURCES BY THE

HEAD TEACHER

Curriculum leaders will be allocated a sum of money. This will be based on identified priorities related to the School Improvement Plan and perceived priorities in relation to the development of each curriculum area.

Curriculum leaders will agree with the Head teacher at their Annual Review a financial outline detailing the deployment of resources and agreed priorities for that area. They are responsible for monitoring their spending on a monthly basis.

Curriculum leaders will be allowed to spend up to 100% of the allocated resources in line with their agreed Financial Plan.

Budget holders will purchase their supplies from agreed suppliers. All orders and invoices are to be processed by the School Finance and Business Manager and processed on the ORACLE computerised finance system. This will register a commitment against their department. Teachers with budgets are to be responsible for ensuring that all goods received are checked off against the order book, delivery note(s) and invoice(s) before passing the invoice to the Finance and Business Manager for payment.

Petty cash purchases should be kept to a minimum and must be cleared with the Head Teacher with the exception of Food Technology. Other arrangements, which departments would like to establish, must firstly be discussed and agreed with the Head teacher.

7.AUTHORISATIONS

7.1 ORDERS

Ordering should be carried out using the school’s agreed creditors, where necessary. There should be written evidence of any estimates over £501. For items under £501 staff are required to compare goods and services and choose those that provide best value for money.

The following personnel are permitted to authorise orders:

Head teacherMegan Stratton

Assistant Head teacherJody Specht

The following personnel are permitted to input orders to the ORACLE system

School Finance and Business ManagerHazel Jaques

The following personnel are permitted to authorise invoices for payment:

Head teacherMegan Stratton

Assistant Head teacherJody Specht

7.2 CHEQUES

The following personnel are authorised to sign cheques:

Imprest Account and School Fund Account (any two of three)

Head teacherMegan Stratton

Assistant Head teacherJody Specht

School Finance and Business ManagerHazel Jaques

7.3 APPOINTMENT AND TERMINATION NOTICES

The Head teacher and Assistant Head teachers are authorised to sign appointment and termination notices.

7.4 OVERTIME, WAGE SHEETS AND TRAVEL CLAIMS AND SUPPLY CLAIMS

The Head teacher and Assistant Head teachers arepermitted to authorise overtime claims, travel claims and all supply claims.

8.RECORDS

The School’s Finance and Business Manager will be responsible for ensuring that adequate accounting records are maintained and financial procedures are followed.

9.INSURANCE

The Head teacher, in liaison with the LA, will ensure that adequate insurance arrangements are made to cover the school for risks and replacement of assets.

10.ASSISTED PLACES ON EDUCATIONAL VISITS AND SCHOOL JOURNEYS

The Head teacher is authorised to offer financial assistance to enable students in severe financial circumstances to participate in an organised school journey or educational visits.

11.CHARGING POLICY

The school operates a charging policy for staff for the use of the Telephone, Fax and Photocopier. Staff members are required to make the appropriate payment to the Finance & Business Manager.

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Financial Delegation Policy

April 2015