Management Information Sheet

All local authority maintained schools are required to complete the Schools Financial Value Standard annually. Governing bodies of maintained schools or management committees of pupil referral units have the formal responsibility for the financial management of their schools, and so the standard is aimed at governors or management committees.

The Governing body or management committee may delegate the consideration of questions to their finance or relevant committee but a detailed report should be provided in full and the chair must sign the completed self-assessment form.

The self-assessment must be returned to the local authority no later than the 31st March 2015 to be recorded as a compliant school on the assurance statement that is returned to the DfE. Schools are able to submit their self-assessment at any point during the financial year and we encourage schools to send their return early as the deadline cannot be extended.

Failure to meet the deadline will lead to a Red RAG rating on the schools RAG Report.

If you have any questions relating to anything above or require any further guidance on completing your self-assessment then please contact your school's Finance Support Officer in the first instance.