Management Information Sheet
School Financial Value Standard (SFVS)
The Department for Education have recently released an update to the standard assessment form for returns to be submitted for 2015/16.
As part of section A 'The governing body and School Staff', 2 further questions have been added.
Question 8 – Have your pay decisions been reached in accordance with a pay policy reflecting clear performance criteria?
For schools to answer 'Yes' they should ensure that their pay policy is up to date, been approved by the governing body and is evidenced through their minutes
Question 9 – Has the use of professional independent advice informed part of the pay decision process in relation to the Headteacher?
For schools to answer 'Yes' they should endeavour to seek independent advice at any time if the governing body feels unsure about their pay decision process. A service can be accessed via the 'Norfolk Integrated Education Advisory Service'.
Schools Finance continues to provide training on SFVS. You can find plenty of information on this tutor-led course via the Learning Hub including the course hand outs, but when it comes to booking yourself a place, please refer to the new Norfolk Services for Schools online portal, SLA Online.
If you have any questions relating to anything above or require any further guidance then please contact your school's Finance Support Officer in the first instance