Management Information Sheet

Please can I remind schools that the mandatory deadline for submission for Schools Financial Value Standard (SFVS) is 31st March each year. However, following recent communication to yourselves via MI sheet number 136/15, and through your Autumn Term visit we have introduced an unofficial submission deadline of 28th February each year. This will enable the LA to identify any schools that are not on track to meet the official 31st March deadline and implement any targeted support that may be required.

Please also be aware that the Department for Education have released an update to the standard assessment form for returns to be submitted for 2015/16. These changes can be found via MI sheet number 163/15 and the updated assessment form can be downloaded from our website efs.norfolk.gov.uk and follow the link to SFVS Questionnaire 15-16.

Financial RAG Report

Autumn Term RAG reports will be emailed to Headteachers week ending Friday 15th January 2016 and further copies to school governors will be distributed via the schools courier week commencing 22nd February 2016.

One of the updates to the 'RAG' criteria is the inclusion of NAS Themed Audits - please refer to MI Sheet 135/15. The Local Authority strongly recommends that the outcomes of these audits are considered by individual schools' governors and leadership teams, and any necessary actions be taken in order to address any improvements required for each school. For a green rating to be achieved, during your recent autumn term visit, your Finance Support Officer would have asked for evidence in the form of Governor's minutes highlighting where discussions have taken place relating to the themed audit findings. It has been agreed that this is necessary to make sure that all schools are undertaking serious consideration of the audit findings to reduce the level of risk in their school. The current themed audits for discussion have been released on MI sheet numbers 31/15 Schools Financial Value Standard & 1/15 Information Security in NCC Maintained Schools. If evidence could not be provided at the autumn term meeting, please forward a copy of your minutes to your Finance Support Officer before the end of the financial year. Failure to do so will lead to Red Rag Rating being issued, and follow up actions to ensure compliance may be considered.