Management Information Sheet
Lease Information
Due to accounting regulation changes, Norfolk County Council is now required to account for leases in a different way and therefore, it needs to collect this information in more detail directly from schools. LA maintained schools will now be asked to keep a list of all leases that are held for the school on the Norfolk Schools website under 'Leases' in the Finance section of MySchool. The information must be kept up to date regularly and will be used by Norfolk County Council twice a year at the end of February and November.
- All leases that the school enters into must be listed
- Leases should be broken down to individual asset (i.e. one per line). If assets are exactly the same make, model, specification, purchase date and cost such as PCs, phones, laptops; you may then group them together on one line.
- All costs must exclude VAT
Please ensure that the website is updated on or before 28 February 2019.
If you have no leases a nil return must still be returned to satisfy our auditors.
If the return is sent in before 28 February and more leases are entered into before this date, then we will require an update to the site from the school. If you are unsure how to complete the form please speak to your finance support officer for assistance.
From the data that has been submitted to date, we can see only 26 schools of the LA portfolio have submitted any return. Additionally to meeting the new regulations, this allows schools and governing boards to assess their lease arrangements and plan for the future. It is essential this return is completed by the deadline.