Terms of Reference:
Finance:
- Elect Chair.
- Review and agree the first formal budget plan of the financial year for approval by the full Governing Board.
- Establish and maintain an up-to-date three year budget plan, taking into account priorities in the School Improvement Plan, roll projection and signals from central Government and the Local Authority regarding future years’ budget.
- Ensure that priorities detailed within the School Improvement Plan are appropriately costed and are reflected in the annual budget.
- Monitor the capital and revenue budget position statements to identify and address any anomalies from the anticipated position and report termly to the full Governing Board.
- Review and monitor outstanding debts and action taken.
- Review the Quarterly Written Report and Financial Report.
- Monitor and authorise expenditure including those over the Headteacher’s delegated limit.
- Consider and approve spending decisions where competitive quotations or tenders are required in accordance with the current Contract Procedure Rules.
- Ensure the school operates within the financial regulations of the Local Authority and the requirements of the Department for Education Schools Financial Value Standar
- Monitor the implementation of any actions identified in the Schools Financial Value Standar
- Review Related Party Transaction Register.
- Monitor the implementation of any identified actions in the SFVS submission.
- Monitor expenditure of all voluntary funds held on behalf of the Governing Board and receive an audited annual statement of income and expenditure.
- Annually review the outcomes of the Asset Register Stock Check and approve the disposal of obsolete item
- Oversee use and monitor impact of all additional grant funding eg Pupil Premium.
- Consider and promote income generation.
- Annually review income generated from lettings, fees and charges, fund raising activities and the sale of assets.
- Monitor Extended Care provision including review of annual income and expenditure statements where applicable.
- Ensure the school has appropriate insurance cover in place.
- Annually review and adopt the school’s Financial Procedures Manual and all other finance related policies.
- Annually review and make decisions in respect of service level agreements and other contracts and lettings.
- Make decisions on expenditure following recommendations from other committee
- Ensure as far as is practical that health and safety issues are appropriately funded in accordance with agreed prioritie
- Annually review financial benchmarking data.
- Monitor the implementation of actions arising from the Internal Audit report or of a financial nature from other inspection regime report
- Ensure any instances of fraud or financial irregularity are reported immediately to the Head of Education and Skills and Chief Internal Auditor and Corporate Fraud Manager.
Premises and Grounds:
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- Annually approve the Health and Safety Policy ensuring that the school meets health and safety requirements.
- Ensure actions are taken in respect of relevant health and safety legislation.
- Receive an annual Health and Safety Audit Report and monitor any arising actions.
- Ensure that premises and the learning environment are maintained and are fit for purpose.
- Provide support and guidance for the Headteacher and Governing Board on all matters relating to the maintenance and development of the premises and grounds, including health and safet
- Ensure that an annual inspection of the premises and grounds is undertaken and that priorities for maintenance and development are identified.
- Ensure professional surveys and emergency works are arranged as necessar
- Oversee the use of premises by outside users.
- Annually review the schools Accessibility Plan and Asset Management/ Building Development Plan.
- Receive and consider the recommendations from the annual Energy Report.
- Ensure appropriate Risk Assessments are carried out and reviewed on a regular basis.
- Ensure inspections of the school site, buildings and equipment take place annually and at appropriate intervals and that reports are shared.
- Monitor data on accidents and incidents.
Meetings: At least termly
Quorum: 3
Disqualifications: Where there may be a conflict of or a pecuniary interest