Management Information Sheet

Norfolk County Council is closing the year end accounts earlier to meet with deadlines set down for Local Authority accounts. To allow this we need to receive early notification from schools when requesting Revenue to Capital Contributions.

Schools and Governors are reminded allowable contributions to Capital can be based on the following:

• Schools are able to contribute directly to capital up to the value which they have spent from Devolved Formula Capital in the financial year.
• Schools are able to contribute to Capital, Revenue which is to be used for a specific project. The Schools Capital team will require a copy of the Governors minutes where the proposed project has been discussed and approved. The minutes should contain the exact amount of revenue contribution. The Devolved Formula Capital Project Proposal Form located on Norfolk Schools should be completed and submitted. A copy of the minutes in conjunction with the completed DFC form provides Schools Finance with approval to action the contribution.

Request for transfer of funds must be with the Schools Capital Team by Friday 23 February 2018. Delayed requests will not be able to be actioned in the correct financial year.

If there are any queries relating to this process, please speak with Neil Leeds 01603 222434.