Consistent Financial Reporting

Consistent Financial Reporting

 

Consistent Financial Reporting (CFR) is the Government’s coding framework for school income and expenditure. A CFR return is required for all schools maintained by local authorities at the end of each financial year.

CFR Framework for 2020-21 - REVISED  02.09.2020

The DfE today released a revised CFR Framework for 2020-21 with changes to I18 Additional Grants for Schools to incorporate grant payments for COVID 19. I18 is now brken down into 4 subsections:

I18A: income from the Coronavirus Job Retention Scheme for staff who were furloughed by the school.

I18B: income from the DfE grant scheme for reimbursing exceptional costs associated with COVID-19 that were incurred between March and July 2020.

I18C: income from the £1bn COVID-19 catch-up package announced on 20 July 2020, and any other grants specifically associated with COVID-19, such as Digital Education Platforms. We will update this section if any further grants are announced in connection with COVID-19.

I18D: income from other additional grants, including:

  • secondary schools to release a PE teacher to work with local primary schools
  • primary PE and sports grant
  • universal infant free school meal funding
  • free school meal supplementary grant

You can access the full Framework document on GOV.UK HERE.

Capita will release an update to FMS6 to install these changes. At present, we do not have a date for this. We will advise schools once Capita confirm when the update will take place. 

The Bank Reconciliation Template (issued by School Funding Team) will be updated to reflect these changes from the Quarter 3 template onwards. 

 

SUPERSEDED - SEE ABOVE The DfE has published it Consistent Financial Reporting (CFR) guide for the 2020-21 financial year. This is applicable to maintained schools. Please notes additional information in CFR categories I11, E23 and E30 for those schools purchasing the Risk Protection Arrangement insurance in 2020-21. Schools should read the Framework carefully to ensure compliance when recording income and expenditure throughout the year and when submitting the annual CFR return via COLLECT. To access the 2020-21 CFR Framework pages on GOV.UK please click HERE.

 

Submission of CFR Data for the 2019-20 financial year

30.06.2020 - COLLECT has now been amended and schools uploading 2019-20 CFR Returns should not get the error / query message about opening and closing balances. if this message does appear it is because there is a genuine mismatch between your 2018-19 closing balance and your 2019-20 opening balance. A member of School Funding Team will contact you about this.

If you uploaded your return to COLLECT prior to the fix being applied the query message will remain, as will the note you have added. This is ok and you do not need to upload your return again.

  

29.06.2020 - Updated information regarding the submission of the 2019-20 CFR return to COLLECT can be accessed HERE 

Schools have until Friday 10 July 2020 to upload and SUBMIT their CFR return on COLLECT.

Please also read the document below called IMPORTANT INFORMATION FOR SCHOOLS.

 

It has now been confirmed by DfE the 2019-20 CFR submission will go ahead. 

Schools are required to submit their return via COLLECT by FRIDAY 10 JULY 2020 at the very latest. Final SAP reports for 2019-20 were released on 27 May 2020. 

Please read the IMPORTANT INFORMATION FOR SCHOOLS DOCUMENT before uploading your return to COLLECT.

For guidance on how to upload your return to COLLECT please click the link below

DfE Guidance on how to check and upload your CFR return to COLLECT

 

CFR Framework for 2019-20

The DfE has published its Consistent Financial Reporting (CFR) guide for the 2019/20 financial year. This is applicable for maintained schools. Please note the change to I08, which has been split into I08A (income from lettings) and I08B (other income from facilities and services).  Schools will need to be able to split out the source of their income for CFR reporting.  We will provide further guidance as information becomes available

 

Submission of CFR Data for the 2018-19 financial year

The deadline for submission of the 2018-19 Final CFR Report is Wednesday 5 June 2019. 

The FINAL MARCH P12 SAP reports for 2018-19 financial year have now been issued via BSO Dropbox and Galaxkey (10/05/19)

Once the SAP reports have been checked and all journals and asset and liability transactions have been posted onto FMS6 (or equivalent) schools are able to finalise and submit their 2018-19 CFR Report.

Please read the IMPORTANT INFORMATION FOR SCHOOLS DOCUMENT before finalising your return. 

Guidance on to upload your return to COLLECT as been issued for schools. This is still the 2015-16 document, however, the process remains the same so the guidance is still relevant. Click the link below to access this guidance. 

DfE Guidance on how to check and upload your CFR return to COLLECT

 

CFR Framework for 2018-19 

 
The CFR Framework document for 2018-19 guidance includes information on a new code E28b, but which is for Private Finance Initiative (PFI) schools only

 

 
Submission of CFR Data for the 2017-18 financial year 

 

The deadline for submission of the 2017-18 Final CFR Report is Wednesday 6 June 2018

The FINAL March P12 SAP reports for the 2017-18 financial year have now been issued via BSO Dropbox (08/05/17)

Once the SAP reports have been checked and all journals and asset and liability transactions have been posted onto FMS6 (or equivalent) schools are able to finalise and submit their 2017-18 CFR Report.

Please read the IMPORTANT INFORMATION FOR SCHOOLS DOCUMENT before finalising your return.

Guidance on uploading your return to COLLECT - Schools Guide to COLLECT 2017-18 has not yet been released by the EFA. However, there has been little change in the process and in the interim schools can use the 2015-16 guidance document. Click HERE to access this guidance.  The updated guidance will be published once released by the EFA.

 
 
The CFR Framework document for 2017-18 is available HERE. The guidance includes information on coding the apprenticeship levy - see category E08.
 
 
 

 

 

Schools that require usernames and passwords for the Schools Financial Benchmarking Website should fill in the form in the link below –

https://www.education.gov.uk/researchandstatistics/stats/requestform

 

 

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