Closure of accounts
Our service provides the reassurance that your accounts will be closed in line with the Local Authority Guidance and within the DCSF requirements.
- This element of our service includes:
- Secure backup of year end data.
- Completion of year end check list with responsible School Finance Officer.
- Setting up of year end accruals in agreement with School Finance Officer.
- Identification of earmarked expenditure.
- Preparation of Balance sheets and Statements of account in accordance with LA requirements.
- Carrying out Consistent Financial Reporting Year end procedure.
- Governors and Senior Leadership Team Year End Summary Report and meeting.
- All of our contracts commence with the closure of the previous years accounts.
Budget monitoring services
- Facilitates strategic planning.
- Budget Monitoring Meetings held throughout the year with a delegated Officer.
- Regular Budget Forecasting Reports prepared. .
- Specialised EFS Officer will assist in your future school planning.
- Includes Payroll analysis of specific staffing categories.
Preparation of reports (3 or 9)
Upon receipt of the Period end Data File; EFS will prepare the Budget Forecast Report remotely, allowing the forecasting and comments to be entered by the School's Senior Finance Officer. This service includes the preparation of the Local Authority's Statutory Quarterly Return Preparation.
This service is aimed at the key reporting times of the financial year. Upon receipt of the Period end Data File; EFS will prepare the Budget Forecast Report and the Local Authority Quarterly Return.
- Budget Forecast Reports prepared remotely.
- Allows the forecasting and narrative to be entered by the School.
- Includes preparation of the Local Authority's Statutory Quarterly Return
- Assists planning for the future.
Support meetings (3 or 9)
The aim of this service is to facilitate strategic planning. Ten meetings will be held throughout the year (see timetable below) with the Senior Finance Officer/ Head Teacher or Finance Governor.
A Budget Forecasting Report will be prepared for each meeting. The report is designed to estimate future spend by budget for the remaining months of the year; it takes account of changes in future expenditure and reflects the impact on the year-end position. Written commentary can to be included therefore leaving a clearly documented audit trail.
This service also includes the analysis of Payroll. This is carried out using the Pay Summary facility within the EFS Budget Planner; it provides month on month monitoring of the Staffing Budget against actual expenditure. The top 5 budgetary concerns will be identified and investigated.
This area of service is aimed to offer an injection of intense support, emphasizing the key times of reporting to the Local Authority (July, October and January). A Budget Forecasting and Quarterly Return meeting will incorporate past budget performance and future planning.
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