Financial Management Standard in Schools (FMSiS)

This is information about the next stage of Norfolk's roll out of the Financial Management Standard in Schools (FMSiS) to Primary and Special schools.

The standard has been devised by the DCSF with the view that schools need:

• A clear and consistent standard for financial management which schools nationally could aim to achieve and would provide a meaningful benchmark to encourage self improvement.



• A self-evaluation tool to help schools to identify their current strengths and weaknesses and prioritise action for improvement.



• An external evaluation tool to help those schools that wish to seek an external and independent assessment of whether they meet the financial management standard.

Further information can be obtained from the updated website at www.fmsis.info.

Schools will have to provide evidence that they have reached the required Standard in financial management and this evidence will go through an external assessment.

Norfolk's agreed schedule is as follows:

Secondary Schools	March 2007
South and East Areas	March 2008
North and Central Areas	March 2009
West Area	March 2010

The external assessment process has been completed for the secondary schools, and primary and special schools in the South and East are already working towards achieving the standard by March 2008. In addition, there are schools in other areas that have volunteered in advance of the proposed schedule.

The next tranche of schools will be from the North and Central areas. In order to explain the process in more detail, I have arranged the following overview sessions in those areas for headteachers, finance staff and governors. All overview sessions are free of charge:

Date	Friday, 12 October, 2007
Venue	Aylsham Lodge Hotel, Norwich Road, Aylsham
Date	Tuesday, 16 October, 2007
Venue	Fakenham Conference Centre, Fakenham College
Date	Thursday, 7 February, 2008
Venue	Hethel Engineering Centre, Hethel, nr. Wymondham
Date	Wednesday, 20 February, 2008
Venue	Sportspark, University of East Anglia

Registration will be at 09.00 hours for a 09.30 hours start and will last no more than two hours.

The Schools Forum has also asked Children's Services Finance, in conjunction with the Governor Services Team, to provide additional overview sessions for governors who may be unable to be present during the working day. Chairs of Governors and Chairs of Finance will receive a separate invitation from the Governor Services Team to attend an evening overview session.

I hope you will make every effort to attend as this is an important DCSF initiative and one which all schools will have to undergo. As well as outlining the requirements of the FMSiS, it will also provide information on the training and support which will be available to schools from the Local Authority.

Please reply by sending the booking form to:

Joanne Cooper, Training Officer, Children's Services Finance or by email to Joanne.

If you have any queries about the Financial Management Standard or the overview sessions, please contact Judith Hall on the above number.