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Financial oversight in maintained schools

Learn how governing bodies ensure compliance, value for money and financial efficiency.

Guidance
12/07/2022

Governing boards are responsible for overseeing the financial performance of their school and making sure its money is well spent – this is one of the core functions of governing boards.

This means ensuring:

  • compliance with the rules (including legislation and controls put in place by the local authority and Department for Education)
  • value for money
  • money is spent in line with the school’s strategic priorities
  • leaders are held to account

This page covers:

  • delegating financial oversight functions
  • approving the school’s budget
  • monitoring the budget
  • ensuring financial efficiency

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