Management Information Sheet

School Financial Value Standard 2022-23 (SFVS)

MI Sheet TypeInformation
MI Number:209/22
Publication Date:29/11/2022 10:00:00
LA Contact:Education Finance
Audience:Headteachers / Governors / Finance Staff

School Financial Value Standard 2022-23 (SFVS)

This is a reminder to LA schools that the mandatory deadline for submission for the Schools Financial Value Standard (SFVS) is 31 March each year. However, as in prior years we have introduced an unofficial submission deadline of 28 February. This will enable the LA to identify any schools that are not on track to meet the official 31 March deadline and implement any targeted support that may be required.

The Schools financial value standard (SFVS) and assurance statement ( website includes detailed guidance to support the completion of the statement; this can be found as part of the list of guidance documents hosted on the relevant page.

We are again asking schools to submit their related party transactions electronically via your My School login, again by the 28 February 2023.

It is a requirement that all LA schools submit a return, even if the school has no related party transactions to declare. The Local Authority are required to report to the DfE on the total number and value of related party transactions.

Once you have logged into MySchool, please select finance, then SFVS. There you will be presented with the function to add your related party transactions and submit your return. If you require any additional guidance, please contact the Education Finance team on or telephone 01603 307758