Just a reminder that all maintained schools need to have submitted their annual Schools Financial Value Standard (SFVS) return to Internal Audit by 31st March 2019.
Local authority maintained schools are required to submit the SFVS annually to the authority. Local authorities use this information to inform their programme of financial assessment and audit.
As governing bodies have formal responsibility for the financial management of their schools, the standard is primarily aimed at them, and the SFVS should be reviewed and approved by governors before submission.
The latest template and support notes can be located here.