Finance and Resource Committee
- To provide support and guidance for the Head Teacher on all matters relating to the financial running of the school, personnel, site and buildings and safety management.
- To ensure that all matters that are the responsibility of this committee are dealt with in compliance with statutory requirements, the regulations and advice of the Local Authority and best practice within the education sector.
- To ensure that the Full Governing Board is regularly informed on all matters that are the responsibility of this committee, particularly those that may impact upon either the educational goals of the school or its financial stability.
Membership and Meetings
- The Full Governing Board (FGB) will appoint at least five governors, including the Headteacher, to annually to serve on the committee. The school’s Business Manager will be a non-voting member of the committee
- The FGB will appoint a chair for the committee who will be responsible for calling meetings, the preparation of agendas and ensuring that all documents for discussion are pre-circulated to all members of the committee at least seven days before the meeting.
- One meeting of the full committee will be held each term. Additional meetings will be called at the discretion of the chair.
- The quorum for any meeting will be three governors. Voting will be by majority of those present and voting. The chair will have a casting vote.
- Minutes will be taken by the Clerk to the FGB who will distribute them for information purposes to all governors within ten working days of each meeting. The committee will approve the minutes at its next meeting.
- To ensure a strategic long-term approach to planning a budget that reflects the school’s prioritised educational objectives.
- To consider each year’s Improvement Plan priorities and to recommend an annual budget and staffing structure to the FGB accordingly at the May FGB each year.
- To ensure adherence to all financial controls and procedures as stipulated by the Local Authority and ensure the probity of the school’s accounting procedures.
- To monitor the budget, verify that expenditure stays within agreed limits and act upon any significant variances. Report significant issues to the FGB without delay and provide it with a detailed breakdown of individual items of expenditure, whether within agreed limits or not, in excess of £2,000.
- To determine the written description of financial systems and procedures including advice upon levels of delegation.
- The FGB approves the following limits for the authorisation of single items or cumulative non-budgeted expenditure for the financial year 2023/24:
- Headteacher £5,000
- Deputy Headteacher £3,000
- Chair of Governor £3,000
- These must be reported to the FGB by the Finance Committee as soon as is practical.
- Other budget holders and members of staff must seek authorisation for any purchases from the Head teacher.
- To monitor arrangements regarding Petty Cash at the school.
- Virements between budget headings in excess of £1000 or 10% of the budget heading must be approved by the Finance Committee and reported to the FGB.
- To verify the maintenance of inventories and to authorise all write –offs and disposals of surplus stock and equipment in accordance with Local Authority Regulations. The FGB has set the following limits for writing off debts:
- Headteacher £60
- Finance Committee £100
- FGB £100+
- To verify that all contracts and tenders are awarded in accordance with Local Authority Financial Regulations.
- To determine matters relating to insurance and school security.
- To monitor best practice regarding sustainable schools, energy efficiency and financial benchmarking.
- To ensure that all relevant actions are reviewed in preparation for SFVS by the 31st March each year.
- To monitor and review the implementation of all statutory personnel related policies and procedures namely:
- Appraisal and capability policy
- Equality Information and Objectives statement
- Pay policy
- Staff discipline, conduct and grievance procedures
- Safer recruitment policy (non-statutory)
- The following personnel related policy will be reviewed by the full Governing Body:
- Statement f Procedures for Dealing with Allegations of Abuse Against Staff.
- To monitor the fair and equitable implementation of all personnel related policies.
- To monitor and review staff planning and deployment and be satisfied that they are appropriate to deliver the school’s educational objectives.
- To monitor the in-service training programme for all staff members, including the provision of appropriate induction programmes for all members of staff, especially Early Career Teachers.
- To monitor the process of performance management for the Headteacher and all teaching staff.
Site & Buildings/Health and Safety
- To arrange an annual inspection of the school buildings, furniture and fittings and the grounds having full regard to the Local Authority’s property management requirements. Consider and approve any maintenance, repairs or improvements.
- To assess the cost implications of the annual inspection and when necessary advise the FGB upon essential exceptional items which need additional funding.
- To monitor the school’s compliance with prevailing Health and Safety Regulations and relevant Codes of Practice, and that the responsibilities of the FGB and the Local Authority are properly discharged including adherence to the Disability Discrimination Act.
- To verify that an annual Health and Safety Audit is complete and receive regular updates from the school’s Health and Safety Officer on health and safety issues including what action has been taken in cases of non-compliance.
- To verify that the school has a risk management programme and appropriate insurance arrangements in place.
- To verify that the school is following any relevant procedures, including incident and emergency management systems as recommended by the DfE or the Local Authority.
- To verify that there has been appropriate and necessary liaison with the Local Authority’s Property Services Department and information that they properly request has been provided.
- To verify that the school’s responsibilities are discharged regarding litter under the Environmental Act 1990.
- To monitor and review the implementation of all statutory site/buildings/health and safety related policies and procedures namely:
- Accessibility plan
- Charging and remissions policy
- Health and safety policy.
The Finance and Resource Committee Terms of Reference for 2023-24 were agreed at the FGB meeting on 3rd October 2023.