Issue - meetings

To update the Schools Forum on the scheme for financing schools and financial regulations for 2024/25.

Olufunke Adediran (Head of Finance, Brent Council) introduced the report providing details of the changes to be implemented to the Scheme for Financing Schools and the Schools Financial Regulations for the financial year 2024/25.  The Forum noted the following key points as part of the update provided:

·             The Scheme for Financing Schools for 2024-25 attached in Appendix A had been updated, with the summary of changes itemised in Appendix B.

·             On the Scheme for Financing schools, minor updates had been proposed to the financial control section of the document where the procurement requirement was to increase the threshold value for low value contracts.  Another change was regarding the sale of land assets, where the retention of funds would now be subject to consent of the Secretary of State with additional changes to the pension section.

·             The Schools Financial Regulations for 2024-25, attached as Appendix C, had been updated, with the summary of changes itemised in Appendix D. This supplemented the scheme and provided school governors and head teachers a framework to ensure public accountability and ensure that financial integrity was exercised.

The Chair thanked Olufunke Adediran for her report and asked the Forum if they had any questions in relation to the information provided.  As no further questions or comments were raised the Forum RESOLVED:

(1)        To approve the amendments to the Scheme for Financing Schools 2024/25.

(2)    To note the Schools Financial Regulations 2024/25.

This report details the changes to be implemented to the Scheme for Financing Schools and the Schools Financial Regulations for the financial year 2023/24.

Olufunke Adediran, Head of Finance, introduced the report that detailed the changes to be implemented to the Scheme for Financing Schools and the Schools Financial Regulations for the financial year 2023/24. In sharing the report, the Forum were advised that all changes applied in the revision were in line with the March 2022 Department for Education’s Scheme for Financing Local Authority Maintained Schools – Statutory Guidance issued to Local Authorities, changes to the Local Authority’s own regulations, the EU Public Procurement Regulations and all the relevant regulations. The Forum’s attention was drawn to Appendix B of the report that reflected the changes to The Scheme for Financing Schools for 2023-24 and Appendix C, which reflected The Schools Financial Regulations for 2022-23

The Chair thanked officers for their report and invited Forum members to ask any questions they had on the information heard, as there were no queries raised the Chair invited the Maintained School members represented on the Forum to consider the schemes presented and as a result they RESOLVED to

(1)        To approve the amendments to the Scheme for Financing Schools 2023/24.

To note the amendments made to the Schools Financial Regulations 2023/24