Management Information Sheet
Analysis of Balances - Change in Submission Process
The Education Finance Team have implemented a change in how LA schools will submit their Analysis of Balances return.
The Analysis of Balances return will now be completed via the schools accounting system, Star Accounts. An additional icon will appear called "Balances Form" via the process tab on the date the period 13 download is available. Please import the period 13 download before completing the form.
Once selected, the layout of the form has not been amended from previous years so this will be familiar to you.
Section 1 will display the schools actual confirmed revenue balance.
Section 2 is broken down between the legitimate purposes for which balances may be held.
Where boxes are coloured green, this indicates where you can enter your data. Please be mindful that all values must be entered with a positive figure. Where a category requires both income and expenditure to be entered, then again, these values should be entered as positive figures.
The Bfwd values for Pupil Premium and PE Sports Premium cannot be changed unless you receive a continuation code from Education Finance. These values should not be changed as the values have been taken from your analysis of balances form relating to the previous financial year. Authorisation will need to be approved from the Education Finance Team Manager.
We encourage schools to utilise the department reporting functionality in star. If your school has a PE department and or Pupil Premium department code set-up and has all the corresponding transactions that reflect your actual income and expenditure, then you can double click in the relevant field and all the information will be pre-populated in the form.
Please note, that boxes 'surpluses derived from sources other than the budget share' and 'Capital Building Projects - VA Schools only' will require further notes to be included and an additional pop up box will appear. There is also the option to add further notes against 'General Contingency - Revenue in hand'.
If your school has a deficit, or after completing the required boxes a negative difference remains then the 'General Contingency - Revenue in hand' box will require a negative value to be added. This would indicate that the school has a deficit revenue balance after analysing the other balances. For example:
| Actual Revenue Balance reconciled with LA | £10,000 |
|---|---|
| Pupil Premium Balance C/fwd | £11,000 |
| General contingency – Revenue in hand | -£1,000 |
You have the option to email the document at any time and this can be actioned by selecting the 'Email Form' button at the top of the screen. This form does not need to be emailed to Education Finance but you may wish to email this to the Headteacher and or representatives of your Governing Body for review before submitting to Education Finance
By selecting the 'Submit Form' button will electronically send the completed form to Education Finance. Please ensure this has been reviewed by your governing body before submitting.
All schools are required to submit the form. The deadline for submission is Friday 13th May 2022.
If you have any questions, please contact our helpline on 01603 307758 or email finance.support@norfolk.gov.uk