7 January 2019
By Nick Lockyer-Fincken

Schools Financial Services Newsletter January Edition 2019

Welcome Back!

We hope that everyone had a lovely Christmas and welcome to 2019!

If you want to know when the newsletter is available each month, subscribe via the education people website.

www.theeducationpeople.org

Funding Update

The Education & Skills Funding Agency have released the following information with regards to funding in 2019/20:

  • Pupil Premium will continue at the current pupil rates for 2019/20 financial year
  • Education Services Grant (ESG) protections for academies will continue at the current rates for 2019/20
  • An extra £125 million will be made available for High Needs
  • Teacher Pay Grant will continue into 2019/20
  • The Universal Infant Free School Meals rate will remain at £2.30 for the 2019/20 academic year.

Details on the funding can be found on www.gov.uk and those related to Kent schools will be provided at the FIGS in March.

Bankline Charges

Kent Schools are able to purchase Bankline from NatWest at a reduced rate.

Any Kent schools who now have access to Bankline should check their bank statements to see if they are paying the normal rate of £20.

Any schools that are paying this rate should contact their NatWest relationship manager to ensure that they are on the correct rate.

If you are not sure who your relationship manager is, contact the Schools Financial Services Help Desk on 03000 415 415

SFS Training Courses

Places are still available on the following courses, you can access these through CPD Online:

FMS6 Accounts Payable

  • 24 January 2019 (19/406)

FMS6 Healthcheck

  • 30 January 2019 AM (19/411)
  • 8 February 2019 AM (19/410)
  • 27 February 2019 AM (19/412)

FMS6 Closedown 

  • 1 February 2019 PM (19/422)
  • 7 February 2019 PM (19/423)

FMS6 Beginners Closedown

  • 15 February 2019 (19/426)
  • 28 February 2019 (19/427)

FMS6 Intro to School Finance

  • 6,13 & 26 February 2019 (19/413)

Embedding Finance in your School Improvement Plan

  • 28 February 2019 (19/442)

In this Issue

  • Procedure Note of the Week
  • Bankline Charges
  • Newsletter subscription
  • Funding update - 2019/20
  • Key Dates
  • Hints and Tips

Key Dates

Upcoming key dates for Spring 2019

18 January 2019

  • Nine Month monitoring deadline
  • Balance Control Mechanism 18/19 submission

1 March 2019

  • Early Returns Deadline

25 March 2019

  • Closedown - Year End Returns

31 March 2019

  • SFVS

Finance Information Groups

The Funding update for 2019/20, provided by Ian Hamilton, will be presented at the Finance Information Groups.

  • 11 March - Maidstone
  • 12 March - Hadlow
  • 14 March - Canterbury
  • 15 March - Ashford

Places are still available and can be booked via CPD Online

Procedure Note of the Week

  • Adding New Ledger Codes to KCC Rec Reports (11c)
  • Adding New Ledger Codes to Inc/Exp Reports (12b)
  • Processing VAT/VAT126 on FMS6 Academies only (83) - NEW!

Hints & Tips

  • FMS6 version 6.184 is due to be released in the latter part of January 2019
  • It's always a good idea to do a Healthcheck on FMS6 prior to doing your 9 month monitoring
  • Remember to complete your Balance Control Mechanism document before sending the 9 month monitoring return to the Local Authority

Follow @SFS_Kent on Twitter to be the first to know!