Buckinghamshire Traded Services

Completing Your SFVS and Financial Accountability for Governors

Completing Your SFVS and Financial Accountability for Governors

Part 1

The Schools Financial Value Statement (SFVS) is an assessment form for Local Authority (LA) maintained schools made up of a checklist and self- assessment dashboard. It’s an annual mandatory return.  Completion of the assessment aims to help your school manage its finances and provide assurance to Buckinghamshire Council that you have effective financial management in place.

The course, delivered by Cheryl Stead, the Schools Financial Management Advisor, will support you in reviewing the SFVS checklist and interpreting the key metrics from the dashboard.

Outcomes

  • An understanding of the budget setting, audit requirements and timescales for the organisation and the checks that must be followed
  • The principles of budget management and how these are used in the organisation
  • Enable you to ask informed questions about income, expenditure and resource allocation and alignment with the school’s strategic plan

Part 2

A key requirement for all governing boards is to ensure that it makes sufficiently informed and effective decisions on the use of resources and allocation of funds to improve outcomes for children and young people. The governing board also needs to ensure that public money is utilised efficiently and in the best interest of the organisation.

This course, delivered by Michael Frost, Audit and Anti-fraud Manager, will support you to ensure that you provide effective internal scrutiny and accountability for financial decisions.  It will cover the importance of setting and agreeing a viable financial strategy and plan which ensures sustainability and solvency and enable you to effectively review your schools process for resource allocation.

Outcomes

  • An understanding of the budget setting, audit requirements and timescales for the organisation and the checks that must be followed
  • The principles of budget management and how these are used in the organisation
  • Enable you to ask informed questions about income, expenditure and resource allocation and alignment with the school’s strategic plan

Speakers

Michael Frost, Audit and Anti-fraud Manager

Who should book on:

  • Finance governors in maintained schools
  • All maintained school governors who would welcome a greater understanding of financial management in Buckinghamshire schools
  • Governor Clerks

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