Finance and Resources Committee
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