All governing boards have a responsibility for overseeing the financial performance of the school and ensuring the money is well spent. In January we reported on the revamp of the Department for Education’s (DfE) Financial Health and Efficiency resources with some guidance aimed specifically at governors. The DfE continues to add resources to the webpage, the latest of which is an external financial health check service. The DfE has set out three specifications, from a review of the school’s financial systems to full support for a school in financial difficulty.
These are not intended to be free services.
The documentation sets out what should be included in the various checks. Along with guidance on how to choose a supplier and a directory of potential suppliers.