Terms of Reference for the Finance and Resources Committee

• Prepare a draft budget based on priorities in the school development plan

• Establish and monitor appropriate policies and procedures and scheme of delegation for sound budgetary control

• Report regularly on the school’s finances to the full governing body

• Determine the financial delegation to be made to the Headteacher

• Approve transfer between budget headings (virement) within agreed limits

• Receive and review school fund accounts

• Respond to any issues arising from the audit of the schools accounts

• Review best value purchases and services

• Review, and set the charges and lettings fees, in conjunction with recommendations made from Premises committee

• Review SFVS (School Finance Value Standards) documentation and ensure it is kept up to date

• Review joint procurement opportunities that arise from Trust status

• Approve spending allocation of devolved funding streams

• Review use and impact of Pupil Premium and Sports Premium

• Receive regular reports from Premises sub group