School Funding Team Guidance

School Funding Team Guidance

SFT GUIDANCE - CONTENTS GUIDE

Here you are able to download additional guidance and follow links to resources on financial topics of importance to schools in the management of their budgets

Click the title to access the guidance

For further information on any of the guidance included here, please contact your School Funding Officer

Consistent Financial Reporting (CFR)

Consistent Financial Reporting is the Government’s coding framework for school income and expenditure.  Here you will find guidance and updates on CFR.

VAT

Here you will find additional guidance on VAT accounting and reporting

HCSS Finance Software

Bradford LA has established a strategic partnership with HCSS Education. HCSS Education provides budget modelling software, which schools can use to manage their budgets and forecast income and expenditure over a 3 year period. A large number of schools in Bradford now use this software

For information on the software see the HCSS website, or contact your School Funding Officer

Year End

A guidance manual for the year end close down process is published here

Timetable of Key Dates & Diary of Duties

We have pulled together a timetable of the key activities and reports required to be submitted by schools during the course of the financial year. Here you will also find a list of key tasks we would expect school financial managers to ensure are carried out on a weekly, monthly, quarterly, termly and annual basis.

For further information, please contact your School Funding Officer

SAP

SAP is the financial software system used by Bradford Council. Here you will find additional guidance on SAP financial reports, SAP ledger codes and the coding of school income and expenditure. We have also posted instructions on how to request a SAP journal for RCCO (Revenue Contribution to Capital Outlay) expenditure.

Construction Industry Scheme (CIS)

The ruling from 1st April 2007 was that schools are be exempt from the CIS scheme.  See the HMRC website for further details. 

Audit / FMSIS / SFVS 

The Financial Management Standard in Schools (FMSiS) is no longer mandatory.  A revised standard, named as the Schools Financial Value Standard (SFVS) is now been established.  Internal Audit will continue to carry out audits in accordance with the requirements of the Accounts and Audit Regulations 2003 (as amended).

Advances Information

Here you will find the scheduled dates of the payment of advances into school bank accounts. We will also post details of changing to full budget share status here in the autumn term each year

FAQs

We have pulled together answers to some common finance questions asked of the School Funding Team.

Who Do I Contact?

We have pulled together a list of contacts for common day to day financial queries.

Glossary of Key Terms

We have pulled together a list of commonly used school financial abbreviations and terms.

School Funding Team Contacts

Each school in Bradford is allocated a School Funding Team Officer, who is the first point of contact for that school on all financial and funding matters.

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