Terms of Reference:
- In conjunction with the Headteacher to draft the first formal budget plan of the financial year, for approval by the full Governing Body.
- To establish and maintain an up to date 3 year financial plan.
- To monitor income and expenditure, including virement decisions, significant anomalies from the anticipated position and report termly to the Governing Body.
- To ensure the school operates within the financial regulations of the County Council and the requirements of the DfE Financial Management Standard for Schools.
- To monitor expenditure of all voluntary funds kept on behalf of the Governing Body.
- To annually review charges and remissions policies and expenses policies.
- To make decisions in respect of service level agreements.
- To make decisions on expenditure following recommendations from other committees.
- To prepare financial statements for inclusion in any reports to parents.
- To ensure as far as is practical that any Health and Safety (H&S) issues are appropriately funded in accordance with priorities.
- To ensure that First/Pay Review Committee and Appeal Committee decisions are appropriately funded.
- Inspection of buildings and grounds and reporting repair and maintenance
- Major/Minor improvements
- Tendering procedures
- Purchase & disposal of furniture and equipment
- Health & Safety issues, inspection report and action (including completion of annual risk assessment to include auditing and monitoring of existing policies)
- Expenditure Proposals on the areas listed above for submission to the Finance Committee
Meetings:
termly, or each half term, planned to coincide with Oracle.
Disqualifications:
when there may be a conflict of interest; a fairhearing is required; or a pecuniary interest. Associate members may not vote.