6 September 2018
By Nick Lockyer-Fincken

Schools Financial Services Newsletter - September 2018

This Edition

We are now part of the Education People!

Schools Financial Services have joined The Education People from 1 September 2018.   You will still get the same great support along with new products and services for your school.

You can still contact us, please find details below:

03000 415 415

schoolsfinancialservices@theeducationpeople.org

www.theeducationpeople.org

All statutory infomation will still be found on KELSI but all of our services/news items will be found on The Education People website.

Replacement Corporate Cards

Renewal cards should now have been received in schools.  

If a renewal card hasn’t been received by mid-September, schools must let us know in case the card has been lost in the post.

If any cards have been received after SFS have confirmed that RBS have cancelled that card, the school can just destroy the renewal card. 

Teachers Pay Awards

Back in July 2018, the School Teachers Pay Review body published recommendations for the September 2018 pay award.

At present, we have not received any further information on what the scale points will be or the grant that schools will receive.

Once these are confirmed, any Schools and Academies that are using the Budget Planning Software (BPS) will need to provide us with details of what they are applying from 1 September 2018.

We will send out details of what is required in order that the BPS can be updated accordingly.

Open Credit Facility

All schools in the NatWest Corporate Scheme will be required to complete an Open Credit Facility form if they wish to withdraw cash from their account in a branch.  

This form will be sent to all schools in the scheme asking them to complete and returned to NatWest if they want to do this.

Hints & Tips

The threshold for Free School Meals eligibility may not be clear to all parents making applications.  Refer to www.kent.gov.uk for further details.

Any new applications for High Needs funding will need to be made asap to ensure that you receive the income as close to the start of September as possible.  Remember to factor this into your monitoring if the application is successful.

Early Years headcount week commencing 10 September 2018

In this issue
  • Balance Control Mechanism
  • Replacement Corporate Cards
  • Open Credit Facility
  • Teachers Pay Awards
  • Procedure Note of the Week
  • Key Dates
  • Hints & Tips
Key Dates

Upcoming key dates for Autumn 2018

4 October 2018

  • School Census Day

17 October 2018

  • 6 Month monitoring submission

November 2018

  • Sports Funding Grant received
Balance Control Mechanism

As you may be aware, Kent's Balance Control Mechanism (BCM) will change from March 2019.

The maximum allowable surplus is now as follows:

  • 7.5% Secondary Schools
  • 12% for Primary Schools, PRU's and Special Schools

Please ensure that this is considered in your 6 and 9 month monitoring.  Further details can be found on KELSI.

Procedure Note of the Week

Brand New!

  • Definition of Capital Funding (82)
Finance Information Groups

Places are still available on the Finance Information Groups on the following dates:

15 October - Maidstone

16 October - Hadlow

18 October - Ashford

19 October - Canterbury

If you want to receive regular updates and be the first to know, follow us on Twitter @SFS_Kent