Local Management of Schools

Local Management of Schools

The Local Management of Schools website has been developed in the context of the School Standards and Framework Act 1998. The website has been designed as a point of reference and is therefore wide ranging in its content.

The website contains a range of documents which deal with the financing and financial management of schools maintained by Milton Keynes Council as the Local Authority. Some of the documents will only be needed by schools very occasionally, others on a regular basis. Those people within the school who have responsibility for financial matters, both governors and officers, will need to have a sound appreciation of the contents of the website, without necessarily having read every part of it. It should be more a case of understanding when there is a need to refer to the website and where within it the relevant information can be found.

The website is constantly being updated and improved and we welcome your thoughts and views for further improvements. In the first instance please contact Esther Martin, Senior Accountant (Systems and Monitoring) on 01908 253230.

Schools Finance and Training Team

The team provides the statutory financial function to all MKC maintained schools. The team is made up of staff with many years experience of working in education and schools finance.

The Schools Finance and Training Team are undergoing a restructure and the new structure shown below will take affect from February 2012.




If you have difficulties with the chart above, a PDF can be downloaded here.

Popular links Web-based Remittance Advice System Frequently Used Forms Frequently Asked Questions

Financial Information

Section 52 and 251 Outturn Statements 2008-2011 Outturn statement showing actual expenditure in three tables (Spending by school and LA information)	Section 52 & 251 Budget Statements 2009-2012 Financial budget statement at LA and school level.
Consistent Financial Reporting National CFR framework guide. CFR coding structure for use by all MKC schools.	Financial Briefings and consultations Informs schools of any current briefings and consultations.
Formula Funding Models Sets out the formula for determining the budget share for each primary, secondary and special school.

Financial Regulations and Procedures

Main Regulatory Documents
Scheme for Financing Schools Main document that schools should follow, sets out the relationship between MKC and the schools it maintains and covers areas such as:- requirements on both parties, delegation, financial plans, voluntary funds, balances and excesses, cash advances, local bank accounts, income retention, pensions, governing body accountabilities. Also includes declaration of pecuniary interest and the MKC Whistleblowing policy.	Local Guidance on the Scheme for Financing Schools Expands on items within the Scheme i.e. financial reporting, payroll, accounting policies, budget plans, responsibilities for repairs and maintenance. Also includes the formats for three way reconciliations and budget plans.
Financial Procedures for Schools The main document gives schools the procedures they have to follow on items included in the day-to-day running of the schools finances i.e. ordering, salaries, income, banking, inventories, IT, voluntary funds, VAT etc.	Financial Regulations for Schools Regulations that schools have to follow in relation to roles and responsibilities, budget plans, budgetary control, balances, capital expenditure and audit.

Guidance Documents	Other policies
Charge Card Arrangements Guidance notes, forms for completions and examples of completed forms.	Code of Conduct for Employees MKC Employee code of conduct to be followed by schools.
Local Bank Account Guidance Guidance on how to manage your local bank account. Includes specimen forms and the bank mandate form required to change signatories.	School Insurance
Final Accounts Guidance Guidance notes, deadlines and relevant forms.	Council Procedure Rules Part four of the council's procedure rules. Containing information on council meetings, motions, voting, committees etc.
Guidance Notes on Budgeting and Forecast Template Advice on how to set a budget, format of budget plan, inflation factors, payscales, NIC rates, coding structure and best value suggested format.	School Specific
Monitoring Report Guidance Guidance notes on how to use and read the monthly monitoring reports produced by the LA.	Key Financial Tasks for Schools Contains a financial tasks timetable for the year, identifying what tasks need to be completed by schools and when.
Contracts, Tenders and Quotations Step-by-step guide to contracts and tenders. Link to Contracts and Procurement website.	Returns Timetable 2011-2012 Contains the deadlines by which schools have to submit financial returns and the formats required.
Children's Centre Guidance Guidance on how to treat children's centre finances.
Cluster and Consortia Funding Guidance Financial information for lead and receiving schools.
Treatment of Shared Staff Accounting treatment for staff working in more than one school.
VAT Guidance VAT Manual - updated February 2011 Academies and VAT Guidance on academies and VAT