Management Information Sheet
School's Financial Value Standard (SFVS) 2014
This is just a reminder that all schools will be required to submit to the Local Authority their completed SFVS self-assessment form by 31st March 2014.
The Chief Finance Officer, on behalf of the Local Authority, is required to complete an Assurance Statement to the DfE. This document is:
- to certify that all schools within the CFO’s remit have completed the SFVS form
- to confirm that the information submitted to the DfE by the LA is correct and a true reflection of the maintained schools within the authority.
- which certifies that the LA has in place a system of audit for its schools which gives adequate assurance over the standard of financial management, and the regularity and propriety of their spending.
A letter will be sent to the Headteacher acknowledging receipt of the SFVS – assessment.
The assessment will then be checked to ensure that the judgements of the Governing Body are in line with the LA view of the school.
A further letter will then be forwarded to the Chair of Governors that will include one of the statements below:
- 1. Our records show that your school has not submitted the form within the prescribed timescale, and must therefore be included in the return to the DfE as a non-compliant school.
- 2. Our records show that your school has submitted the form within the prescribed timescale, and will therefore be included in the return to the DfE as a compliant school.
- 3. Our records show that your school has submitted the form within the prescribed timescale, and will therefore be included in the return to the DfE as a compliant school, but the LA’s view is that there are discrepancies between the school’s view and the LA’s. The areas in question are…….
If you have any questions relating to anything above then please contact your school's Finance Support Officer in the first instance.