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

termly, or each half term, planned to coincide with Oracle.

when there may be a conflict of interest; a fairhearing is required; or a pecuniary interest. Associate members may not vote.