Management Information Sheet
Autumn Term RAG Rating
You will shortly be receiving the latest RAG report for your school and we are aware that some schools have raised concerns about the reason for issuing the RAG. Feedback suggests that some school leaders believe that the RAG is there to comment on the Leadership and Management of the school, which is not the purpose of the document.
The Red, Amber, Green rating for schools was introduced following the summer term finance briefings in 2010, attended by headteachers, governors and school finance staff. The briefings highlighted concerns from a majority of attendees about schools that had or were accumulating large deficit budgets and the need to identify and support those schools that would require significant additional input from the local authority. Those concerns led to the formation of the Finance Consultative Group, comprising representatives from Headteacher groups, governor groups, school finance staff and LA officers. It is this group that developed the RAG system, and continues to oversee its’ development.
The RAG rating is in effect an early warning system which helps the local authority to assess financial risk in schools to ensure the appropriate support and help is made available to Headteachers and school Governors as required. It is prepared termly by each schools’ Finance Support Officer, contains a series of financial management criteria and uses objective data as a basis for judgements.
The RAG will be issued to school leaders early in each term once all the necessary information has been checked and the RAG updated. Paper copies will be sent to the Headteacher, the Chair of Governors and the Chair of Finance as well as being available on the ‘My School’ website.
If you require further information on the RAG ratings, please do not hesitate to contact your schools’ Finance Support Officer.
The Red, Amber, Green rating for schools was introduced following the summer term finance briefings in 2010, attended by headteachers, governors and school finance staff. The briefings highlighted concerns from a majority of attendees about schools that had or were accumulating large deficit budgets and the need to identify and support those schools that would require significant additional input from the local authority. Those concerns led to the formation of the Finance Consultative Group, comprising representatives from Headteacher groups, governor groups, school finance staff and LA officers. It is this group that developed the RAG system, and continues to oversee its’ development.
The RAG rating is in effect an early warning system which helps the local authority to assess financial risk in schools to ensure the appropriate support and help is made available to Headteachers and school Governors as required. It is prepared termly by each schools’ Finance Support Officer, contains a series of financial management criteria and uses objective data as a basis for judgements.
The RAG will be issued to school leaders early in each term once all the necessary information has been checked and the RAG updated. Paper copies will be sent to the Headteacher, the Chair of Governors and the Chair of Finance as well as being available on the ‘My School’ website.
If you require further information on the RAG ratings, please do not hesitate to contact your schools’ Finance Support Officer.