Contact: Thomas Whiffen , 01962 846287, [email protected]

1 Summary

1.1 The following decision is sought:

That the Executive Lead Member for Children's Services approve the supported changes to the Scheme for Financial Management of schools and the modifications agreed by Schools Forum on 1 March 2007.

2 Reason

2.1 The changes 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.

2.2 The proposals do not contribute directly to the Hampshire County Council priorities or the Aims of the Children Act. Nevertheless they 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 changes to the Scheme had been supported by schools. The Scheme without these changes had become out of date and failed to incorporate new government requirements.

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

4.1 None.

5 Dispensation granted by the Standards Committee -

5.1 None

6 Reason(s) for the matter being dealt with if urgent -

6.1 Only if item is a `key' decision and misses agenda despatch.

Approved by: Date:

........................................

Councillor Felicity Hindson MBE

Executive Lead Member for Children's Services