Schools Financial Services Newsletter - February 2022
Closedown is fast approaching and we've got the courses you might need that cover everything there is to know about Closedown! They are:
- 22/322 FMS6 Healthcheck & Closedown
- 22/332 FMS6 Closedown
- 22/331 Schools Closedown Returns - Non FMS6 Forms
Our Summer term training courses will be
available to book as of 21 February.
All our courses are available to book on
There is a course suitable for everyone. All of our programmed training is free to Kent Maintained Schools, but it is also available to Academies and Medway schools (although not all is applicable).
For further information email [email protected]
COVID-19 mass testing exceptional premises costs claim form
Schools and academies with secondary age pupils will be able to submit claims for exceptional premises costs incurred during the mass testing of pupils and students on their return in January 2022. The claim window is opens Monday, 31 January 2022 and closes Sunday, 20 February 2022. The process to claim is changing and the claim submission guidance has been updated on GOV.UK
In This Issue
- SFS Training
- COVID-19 mass testing exceptional premises costs claim form
- 16 to 19 revenue funding allocations for 2021 to 2022
- Financial Information Group (FIG)
- Schools Financial Value Standard (SFVS) self assessment
- Academy Information
- Helpdesk Closures
16 to 19 revenue funding allocations
For those with 16-19 funding there are Allocation calculation toolkits (ACT) available confirming how the DfE have used 2020 to 2021 individual learner record (ILR) data to calculate funding elements which will be used in the calculation of 2022 to 2023 16 to 19 revenue funding allocations. The ACT tool is available on Document Exchange. If there are any questions after reading the guidance, then schools need to contact the DfE using their online enquiry form.
Financial Information Group (FIG)
Our Spring Finance Information Group (FIG) is being held on the 2 March 2022. The agenda for this will be sent out prior to the event.
Our FIG’s are for Finance staff, Office Managers, Bursars and anyone else who is a member of support staff and has finance related duties. The FIG can be booked through the usual CPD route.
Schools Financial Value Standard (SFVS) self assessment
The Schools Financial Value Standard (SFVS) self assessment is reverting back to a word document for 2021-22. There are now 30 questions, an increase of one.
The following questions have been amended, Q1, Q9, Q26 and Q27. There are two new questions, Q16 and Q19. Question 29 from the 2020-21 return has been removed. There have been a number of questions that are the same as 2020-21 but they have been re-numbered.
Question 16 relates to publishing the number of staff earning over £100k p.a. on the school website. Some schools have already published this information in the staff information section. Please remember, this is the number of staff not who. If you do not have any staff it may still be worth stating that no staff earn above £100k.
Question 26 relates to Related Party Transactions. There is now a requirement to complete an additional template for this question. The template can be found on the DfE website. Nil returns are required and must be attached to the emailed completed SFVS by 31 March 2022.
1 - GAG Statement - For academies that opened before or on 1 January 2022 the DfE will be issuing 2022 to 2023 general annual grant (GAG) allocation statements towards the end of February 2022. For February and March 2022 opening academies the GAG statement will be issued by the end of April 2022. There will be guidance available in February 2022 on the allocations.
For those academies with sixth forms, the DfE will issue 16 to 19 allocation calculation toolkits containing funding factors and student numbers in February. They expect to start issuing 16 to 19 allocations in February, including high needs place numbers, to most school sixth forms, academies and special academies. You can read information about 16 to 19 education: funding allocations.
2 - Budget Forecast Return outturn - The DfE have confirmed that, with immediate effect, they will no longer require academy trusts to submit a separate budget forecast return outturn each year. They have permanently included the outturn information in the main budget forecast return. The DfE have published the information required on the academies budget forecast return GOV.UK page
Our Helpdesk will be closed for the morning of the 1 March 2022 from 9am - 1.30pm for staff training, if you have a query during this time please email in, and we will endeavour to respond as soon as possible.