Richmond School
Policy | Policy List | Delegation of Responsabilities with Regard to School Finances
The Finance, Lettings and Premises Committee of the Governing Body is responsible for oversight of the preparation, management and control of the School budget on behalf of the Governing Body, having due regard to the professional advice of the Head.
The Committee will maintain regular oversight of the state of the budget through its regular meetings and will report to the Governing Body at its full meetings. Proposed single items of expenditure in excess of £5,000 by the School must be brought before the Committee for discussion and approval prior to spending taking place.
The Head is responsible for advising the Governing Body on all matters pertaining to the School Budget. This will include the presentation of the annual Draft, Start and Revised budgets, and on matters pertaining to income generation for the School. All of these responsibilities will be fulfilled in consultation with the Staff of the School.
The Finance and Site Manager exercises day-to-day oversight of the School budget and School Fund, ensuring that expenditure within the various headings is kept within the defined budget limits. He also has responsibility for the preparation of the annual Draft, Start and Revised budgets in conjunction with the School’s Management Team and leads on their presentation and discussion in Finance Committee meetings. The Administrative Assistant (Finance) assists with the day-to-day administration of matters pertaining to the School Funds
The Site and Finance Manager, in conjunction with the District Community Manager, exercises day-to-day oversight of the delegated Community Education budget, ensuring that expenditure is kept within the defined budget limits. The Finance and Site Manager, in conjunction with the District Community Manager and the Deputy Head (Community Education) has responsibility for the preparation of the annual Draft, Start and Revised Community Education budgets. The District Community Manager authorises expenditure from the Community Education Budget.
The Head, two Deputies and the Administrative Services Manager are authorised signatories of cheques (any two to sign).
The Site and Finance Manager is responsible for day-do-day payments’ management according to agreed procedures and maintaining accurate, up-to-date budget records for each budget holder. The Finance and Site Manager also prepares forecast information for use by the Governors and staff of the School in preparing the annual budget.
The Finance Assistant undertakes the day-to-day processing of authorised payments, including the preparation of cheques for signing by authorised signatories (see above), under the direction of the Finance and Site Manager
To be revised: September 2007
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