Contact: Sheila Little, 01962 847545, [email protected]

1 Summary

1.1 The following decision is sought :

that the proposed amendments to the Scheme for Financial Management of Schools be approved as the basis for consultation with all schools.

2 Reason

2.1 The proposed amendments update the Scheme for Financial Management of Schools and incorporate new provisions for the redistribution of excess school balances and for better financial reporting and management by all schools. They were supported by Schools Forum on 11 October 2006

2.2 The proposals do not contribute directly to the new Corporate aims but, nevertheless, require a decision because: statutory guidance is being implemented and schools' financial management will improve when the proposals take effect.

3 Other options considered and rejected

3.1 No change was rejected as an option because the Scheme had become out of date and new government requirements had to be incorporated.

4 Conflicts of Interest declared by the decision maker or other Executive Member consulted

None

5 Dispensation granted by the Standards Committee -

None

6 Reasons for the matter being dealt with if urgent-

None

Approved by : Date:

Councillor Felicity Hindson MBE

Executive Lead Member for Children's Services