The Finance Committee has recently been integrated into the FGB (Full Governing Body) so all governors will have some perception of our financial responsibilities and practices. The FGB will continue to discuss financial governance matters at least termly in all FGB meetings and review the financial performance of the school on a monthly basis as before. The governors with the principal finance roles are Adam Donoghue (Chair of Governors), Steve Morris (finance lead) and Marcus Iafrate along with Sarah Albery & Jo Leatham (Co-Headteachers) and supported by Gill Nye (Admin Officer).
There is a continued duty to oversee the Financial Management of the school, ensuring that school funds are used appropriately and that the right financial decisions are being made.
Key responsibilities comprise:
- Reviewing, understanding and challenging the forecast school expenditure for the year
- Reviewing the school financial performance in the context of other similar schools
- Approving the annual school budget and 3 year financial prediction
- Assuring the suitability of the school’s financial controls and that these financial controls are appropriately applied
- Monitoring the management and use of school funds and ratifying their use against exceptional circumstances
- Monitoring the implementation and review of relevant school policies
- Ensuring that all school resources are being managed in a way that facilitates the delivery of the School Improvement Plan