Working with and complementing your school staff, our services are designed to provide core financial support to meet all your school’s finance needs and to ensure that all your school’s statutory financial requirements are met. We aim to help achieve the best learning outcomes for pupils through continuous improvement of all areas of school financial management including best use of limited resources to obtain value for money.
What services are available?
Comprises of the equivalent number of days per month. This service may be delivered in whole days or half days as well as fortnightly or weekly visits and can include a combination of times that include off-site and onsite support to enable the use of central resources and optimise the time available to achieve your school's objectives.
This package provides your school with the services contained in the Core Service Pack, Standard Financial Support Service and Budget Monitoring services plus a direct hands-on payments and receipts management service that can also include:
- Advice and support for long-term financial planning
- Support and training for School administrative staff
- Improvements to Internal financial management and control
- Completion of quarterly reconciliation returns and resolution of any problem identified by the reconciliation process.
Budget Monitoring Service
Provides a number of days per month on site/remeote support during term time. In addition to the items included in the Core Service Pack, Standard Financial Support Service, the Budget Monitoring service provides your school with:
- Comprehensive and clear budget monitoring reports with narrative for governors based on system and other data after full discussion with the Head and School Business Manager
- Attendance at finance committee meetings if required`
- Regular meetings with the Headteacher to discuss financial issues
- Support to implement internal financial management and control
- Support for key reconciliation processes
Standard Financial Support Service
The standard support package is designed to provide a number of day's on site/remote support per term for key school tasks, and includes:
- Budget planning software, training, advice and support to enable budget modelling and optimise use of resources through effective financial planning
- Budget process review to include follow up budget finalisation workshops
- Direct on-site/remote support for key financial management and system tasks
- Support to school business managers to achieve statutory financial requirements to the required standard and on time
- SIMS FMS6/Access finance advice, guidance, troubleshooting and support
- Directly undertaking or providing support for Local Authority procedures, for example, quarterly reconciliations, VAT returns, year-end financial closedown and accounting for capital
- Central support, advice and guidance
- Where possible, support to meet the requirements of the School’s Financial Value Standard and to secure strong internal financial management, control and accountability
- Core services including:
- Schools Finance Intranet
- Budget planning pack
Transactions Only Service
The transactions only service is designed to provide a number of day's on site/remote support on a monthly basis to perform all tasks up until bank reconciliation.
- All income and expenditure
- Central fund and disbursement bank reconciliations.
Core Service Pack
Mandatory for all schools unless purchasing bursar, budget monitoring or standard financial support services
- Schools Finance Intranet
- Budget planning pack including software with updates throughout the year
How will this service be delivered?
- A dedicated finance support officer for between three and 45 days delivered with a combination of remote and onsite.
- Remote access using hosted SIMS FMS6, Access finance and the Access budget planner.
- Dedicated Finance Section on IslingtonCS – an online resource providing all the financial information you are likely to need.
- Budget Planning Pack plus online budget data.
- Budget Planning software with high-level functionality; populated with your individual school budget and LBI coding structures – supported by budget planning and budget finalisation workshops providing high-level guidance and advice with unlimited user support for any technical or usage queries.
- Monthly payroll reports, statements of income and charges and summary reconciliation sheets guidance notes and direct support as required for all key financial activities.
- Strategic information and support to facilitate collaborative schools working.
- Finance Helpdesk (Monday- Friday, 8.30am-4:00pm term time,10am-2pm during holidays).
- For a further breakdown of roles and responsibilities between schools finance consultants and the school please see IslingtonCS.
What added value does this service offer?
- Our staff skill sets complement and seek to develop those of your school staff to provide a financial support service with successful, cost effective outcomes.
- We understand Islington schools and the Council’s systems and requirements and provide the strategic financial framework for schools.
- The Schools Finance Team can cover all of the technical, operational and strategic financial issues in your school.
- We work closely with colleagues in ICT, HR, Corporate Finance and other Council services, the DFE and other Boroughs to provide a coordinated and effective response to your School’s needs.
What our customers say
"We have been incredibly happy with the service we received from Schools Finance over the years. The financial expertise, support and appropriate scrutiny offered by our link finance consultant has helped to ensure we have maintained a healthy budget and appropriately planned for the future, especially in times of uncertainly, with budget changes, pandemics, Brexit etc."
Islington Primary School
Purchase this service
Islington settings can view and download a detailed pricing and order form for 2023-24
All other settings
All other settings, including schools from other boroughs can make an enquiry about any service by contacting our School Contracts team: Email School Contracts