Financial Support For Schools

Pencils

The Local Management of Schools Team (LMS) offers a Financial Support Service to maintained schools which
is responsive to client needs in an ever changing financial environment. There are three levels of service:

  1. Standard offers basic support to all schools that employ their own business manager or equivalent
  2. Standard Plus offers an enhanced financial support to primary, special and nursery for budget setting and monitoring
  3. Premium offers a comprehensive service to primary, special and nursery schools and will benefit from a dedicated LMS bursar as well as the expertise of the whole team.

Included in the service

Statutory Management Services
  • Monthly Monitoring Reports
  • Helpdesk support (daily 9am - 4.30pm)
  • Provision of budget setting & monitoring forms
  • Salary calculation sheets
  • Termly Financial Support Group meetings for business managers or finance staff
  • Sims FMS updates
  • Annual Financial Statement
  • Finance Training for Governors (1 session per cluster)
  • New: set up bank account on FMS for charge card/cheque book (If LMS are required to fix a bank account they have not set up there will be a charge to correct it)
Standard Plus Service

All of the above plus:

  • Production of the Annual Budget Setting and Period 6 & 9 monitoring reports including budget projections following discussion with Headteacher (max 3 visits per year)
  • Support preparing for Audit & SFVS Training sessions for new staff to process orders and invoices on FMS (up to 6 hrs)
Premium Service

All of the above plus:

  • Monthly visits (2, 3 or 5 hrs)
  • Separate visits to discuss financial monitoring reports (3 per year)
  • Attendance at Governors’ Finance meetings (3 per year)
  • Ongoing training on FMS for finance staff as part of monthly visit
  • Emergency cover to process invoices & orders in the event of staff absence (up to 6 hrs)
  • Staff salaries checked and administration of queries (schools with LA payroll only)

Benefits to your School

Standard Service
  • Up to date staff salary information for ease of reconciliation
  • Finance related queries are answered promptly
  • Budget monitoring forms have standard format required by the LA
  • Salary calculation sheets provide assistance with budget setting and monitoring
  • Financial Support Group meetings provide updates on financial & other relative school information
  • Regular updates and training notes regarding changes to FMS system
  • CFR formatted reporting for DfE Finance training for governors
Standard Plus Service

All of the above plus:

  • Preparation of reports in line with the Scheme for Financing Schools for presentation at Governors’ meetings
  • Budget projections to assist yourschool with future financial planning
  • Regular updates from Audit Support for new finance staff
Premium Service

All of the above plus:

  • Regular visits to your school in order to support finance staff and Headteacher in various aspects of their roles
  • Attendance at Governors Finance meeting to support Headteacher & Chair of Finance explain financial position
  • FMS training to ensure financial systems are up to date
  • Emergency cover to ensure payments to suppliers are up to date
  • Staff salary checks to ensure errors on staff salaries are corrected

Further information

LMS can also offer - at an additional charge - visits to schools for further support in various tasks including audit or SFVS preparation, group training for staff, financial systems review and FMS training.
Purchase financial support as an academy.

Quality Assurance

The service manager will monitor, on a termly basis, the standards set down in the SLA. Any feedback from service users will also be taken into account.

Contact

Call Sue Ashley on 666 4579 or email sueashley@wirral.gov.uk