School finances have never been more in the news that at the current time. Articles in the news and on all social media platforms highlight the fact that school funding is under real and extreme pressures. We are not immune at Cheddington in seeing ever increasing demands on the funding received from Central Government, and we continue to face rising costs in all areas.
The Governing Board of the school has a statutory responsibility for the financial management of the allocated school budget. It is accountable for ensuring that the school manages its budget effectively and efficiently. The Finance Committee meets half termly with the Head Teacher and School Business Manager to discuss and review all aspects of the school finances. This includes reviewing the systems and controls in place throughout the school in respect of financial management, as well as the spend and the three year modelled budget projections.
The Finance Committee appreciate the efforts of the PTA to support the school, and the support by parents for the Development Fund. The spend associated with these additional financial supports for the school is monitored by the Finance Committee as part of the budget review.
Despite the challenges to date, and those which lie ahead, the Governors are confident in the strong and competent financial leadership in the school to deliver the best possible education for all children.
Please see the link below to the Financial Benchmarking for Schools site.