Financial support

We offer a number of financial support packages: 

• Financial advisory service
• Payment of Accounts
• Income Collection

Financial Advisory Service

Our finance team will be able to offer you advice and guidance to help you fulfil your financial management responsibilities on key accounting functions. 

The services we offer

• Budget preparation including three year budgets and one to one support.
• Financial modelling of future years funding allocations.
• Budget monitoring including critical friend support.
• Consistent financial reporting – Co-ordination and submissions.
• Closure of the accounts.
• VAT helpline. VAT returns for Local Payment Schools.
• Ensuring compliance with School Finance Regulations and any other enactments relating to the management and operation of a delegated school budget.
• Support for achievement of the Schools Financial Value Standard.
• Access to model financial policies.
• Annual health check on FMS to ensure robust underlying data.
• Attendance at governing body meetings re financial management and reporting issues.
• Support and attendance at interviews for Finance and support staff.

How this will benefit your school

• Resilience in financial support through access to an experienced  financial team with a named contact that knows your school.
• Improved end to end financial management, from financial planning and budget setting through to budget monitoring and year end closure of accounts.
• Expert advice to schools via phone, email and personal visits
• Cost effective and timely service delivery.
• Services compliant with both guidelines and regulations for managing school finance.
• Easy access to all year round specialist support.
• Best practice guidance sharing.

Payment of Accounts

This service is for maintained schools and academies. Our team provides a reliable and secure service for payment of creditor invoices.

The services we offer

• High quality support and advice to facilitate accurate payments to suppliers and creditors whilst complying with statutory legislation.
• Prompt payment of invoices in line with payment terms.
• Setting up new supplier/creditor records (Masterfiles) and initiating any employment status checks on individuals to comply with HMRC regulations.
• Updating Masterfile records in a timely manner.
• Advice and guidance on best practice for the submission of invoices for processing, and/or the facility to upload a file for us to process transactions on your behalf.
• Sense check to detect unauthorised payments, payments to incorrect supplier/creditors and duplicate payments and recovering where appropriate. Liaising with suppliers to resolve payment queries on your behalf.
• Re-imbursement of Petty Cash expenditure.
• Urgent payments on request. All payments made by secure efficient methods. Purchase cards – advice on use and setting up accounts.

How this will benefit your school

• A high quality value for money service.
• Access to experienced staff with knowledge of working with schools and academies.
• Impartial advice and guidance.
• Efficient resolution of transaction queries.

Income Collection

This is a service for maintained schools and academies.

The services we offer

• Secure cash collection and banking service.
• Ad hoc Monday and Fridays collection.
• Use of RWars software to record and allocate income to your accounts (maintained schools only).

How this will benefit your school

• Specialist advice and support from experienced staff, who know your school.
• Secure method of managing your cash and banking.
• Regular collection dates to minimise cash left on school premises.