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Stokeinteignhead Primary School
Curious, Determined, Resourceful and Respectful
Stokeinteignhead Primary School
Curious, Determined, Resourceful and Respectful

Terms of Reference

 

The purpose of the Finance and Resources Committee is to monitor expenditure in line with financial regulations. Additionally to manage human resources, the school building and support services. 

 

 

Membership:

The committee will comprise of at least 3 governors.

 

Members:

Martin Caddy

Chris Nicholls

Nigel Spencer-Small

Alan Quinsey

 

Quorum:

Three Governors 

 

Chair of Committee:

 

Clerk of Committee: Nikki Johnson

 

Withdrawl from meetings:

Staff governors must withdraw from the meeting for discussions and decisions concerning the pay

or performance of anyone employed at the school. The Headteacher must withdraw if his or her pay

or performance is being discussed. Any governor must withdraw where there may be a conflict of interests with items declared on the ‘Register of Business Interests’ form.

 

Matters of urgency:

These may be dealt with by the chair of governors, chair of the committee and Headteacher and reported to the next meeting of the committee or full governing body.

 

Delegation:

Governing bodies may use their powers to delegate functions and decisions to committees or

individual governors. It is the overall governing body, however, that in all cases remains accountable

in law and to Ofsted for the exercise of its functions. (Governors’ Handbook, September 2014.)

 

The governing body responsibilities for finance and resources including staff

The governing body has responsibility for ‘Overseeing the financial performance of the school and making sure its money is well spent’ (Governors’ Handbook, September 2014). Governing bodies are responsible for making sure their school’s money is well spent. They should do this by making sure they have at least one governor with specific skills and experience of financial matters, and by asking questions such as:

 

  • Are we allocating our resources in line with our strategic priorities?

  • Are we making full use of all our assets and efficient use of all our financial resources?

  • Are other schools buying things cheaper or getting better results with less spending per pupil?

  • How can we get better value for money from our budget?

  • Do we have the right staff and the right development and reward arrangements?

 

The committee should make sure that the wider governing body has a accurate understanding of the school’s finances. They should identify from the data the issues that most need to be discussed.

The governing body recognises that it is accountable for the way in which resources are used and it is committed to carrying out this responsibility honestly, transparently and with integrity. The committee has delegated responsibility from the governing body to fulfil the responsibilities of the governing body as specifically itemised below. The committee will operate in accordance with the provisions of the Schools Financial Value Standard (SFVS) to maintain effective arrangements for the efficient deployment of school resources

 

Best Value

The governing body will ensure the principles of Best Value are followed when making decisions. The principles of best value are:

 

  • Challenge – why, how and by whom an activity is carried out;

  • Compare – performance against other schools and between parts of each school;

  • Consult – involving stakeholders, especially pupils and parents

  • Compete – as a means of securing efficient and effective services.

 

Levels of Delegation - Decision or Recommendation

 

D = decision to be taken by the committee and reported to the full governing body via minutes / reports

 

R = the committee to make a recommendation to the full governing body, who will make the decision.

 

Finance related policies and documents delegated to this this committee

 

  • Charging and Remissions Policy (Statutory)

  • Governor Allowances / Expenses Policy (Statutory)

  • Finance Policy (Statutory)

  • School’s Financial Value Standard (SFVS) Return (Statutory)

  • Benchmarking

 

Finance duties which are delegated to this committee:

 

 

In consultation with the headteacher and business manager and taking into consideration:

  • available resources

  • sustainability of commitments

  • the school improvement plan

  • forecast pupil numbers

  • anticipated contractual liabilities

  • other relevant factors

The committee to scrutinise and agree the formal budget plan(s) for the financial year and make

recommendations to the full governing body for its approval.

 

R

 

To ensure the continued knowledge and understanding of governors in respect of the requirements of the Schools Financial Value Standard (SFVS) and ensure annual return is submitted.

 

D

 

To ensure the establishment and maintenance of an up to date 3 year financial plan, ensuring that current data is used to inform the 3 year plan.

 

D

 

To monitor budgets for all funds under the governing bodies control, including virement decisions, at least termly and to report significant variances from the anticipated position to the governing body.

 

D

 

To establish/recommend as appropriate policies (to include recommended levels of delegation) to the Governing Body. This will include a:

  • Finance Policy

  • Charging and Remissions Policy

  • Governor Allowances / Expenses Policy

 

 

 

R

D

D

To ensure the continued knowledge and understanding of governors in respect of the Schools Funding Consultation held in September each year and to provide an agreed response to the consultation.

 

D

To monitor expenditure of any voluntary funds kept on behalf of the governing body and ensure the annual audit of these funds.

D

To consider and approve non routine expenditure (not provided within the School Improvement Plan) in accordance with the Finance Policy including recommendations from other committees

D

To monitor statistics, performance indicators and key ratios and other non-financial data affecting budgets, directing action as appropriate.

D

To receive audit reports and refer key issues to the governing body. Direct the response to such reports and ensure such reports are appropriately acted upon.

D

To undertake financial benchmarking, alert the governing body to any best value implications and make recommendations to the full governing body for best practice.

D

To monitor the proper allocation of pupil premium and sports funding, and report to the full governing body.

D
 

 

Premises related Policies and Documents delegated to this committee: 

 

  • Lettings Policy (Statutory)

  • Accessibility Plan (Statutory)

 

Premises duties which are delegated to this committee:

 

To assist the headteacher and business manager and to discharge the responsibilities of the governing body on matters relating to the school premises and grounds, security and environment.

 

D

To ensure an annual inspection of the premises and grounds is carried out and reported. To receive reports from the business manager and agree a statement of priorities for maintenance and improvement.

 

D

To agree the costs and arrangements for maintenance, repairs and redecoration within the budget allocation.

 

D

To oversee the preparation and implementation of contracts, ensuring best value principles are adhered to.

 

D

To agree, evaluate and review the schools Accessibility Plan

D

Review catering and re-affirm food standards in line with statutory duties, to include after school and breakfast club provision

 

D

 

 

 

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