This section provides guidance to schools on finance regulations, school funding and effective financial management.
Schools Financial Value Standard replaces the Financial Management Standard in Schools (FMSiS), which was withdrawn by the Secretary of State with effect from 15 November 2010. The SFVS has been designed in conjunction with schools to assist them in managing their finances and to give assurance that they have secure financial management in place. Governing bodies have formal responsibility for the financial management of their schools, and so the standard is primarily aimed at governors.
The standard consists of a series of questions and is a self assessment of the financial management in school. It is aimed primarily at governors due to the body holding statutory responsibility for financial management in schools.
For more information, please visit: https://www.gov.uk/guidance/schools-financial-value-standard-and-assurance-sfvs
Further information on school funding can be found from the Education Funding Agency website at: https://www.gov.uk/government/organisations/education-funding-agency
Section 251 Budget Report 2016-17
Section 251 Budget Report 2015-16
Section 251 Budget Report 2014-15
Section 251 Budget Report 2013-14
Section 251 Outturn Report 2015-16
Section 251 Outturn Report 2014-15
Section 251 Outturn Report 2012-13