Garth Hill College Financial Procedures Manual

Transcription

1 Garth Hill College Financial s Manual 27/9/2017 Page 1

2 Table of Contents MAIN BUDGET... 3 Budget... 3 Budget Virements... 4 Agresso Reports... 4 Imprest... 5 Auto Reconcilliation... 5 Budget Monitoring... 5 Ordering and Invoicing... 6 BFC Procurement Card... 6 Petty Cash... 7 Expenses & Reimbursements. 7 Income 8 Lettings..8 COLLEGE PRIVATE FUND... 8 College Fund Income... 8 College Fund Expenditure... 8 College Fund Petty Cash... 9 PAYROLL... 9 REGISTER OF CERTIFYING OFFICERS... 9 HUMAN RESOURCES FREE SCHOOL MEALS (FSM) BURSARY FUND APPENDICES /9/2017 Page 2

3 MAIN BUDGET Budget The college budget is set by the Governors to identify income and expenditure for the next financial year. A balanced budget has to be submitted to BFC, if for any reason this is not possible, discussions must be held concerning the possibility of a licensed deficit to cover the period of adjustment whilst a balanced budget is being re-established. The first draft annual expenditure budget is initially prepared by the using HCSS and Excel and presented to the Principal for discussion and review. Successive drafts are produced until a draft budget is suitable for presentation to the Finance Committee for discussion and further amendment. This process is continued until a budget has been approved by that Committee and endorsed by the full Governing Body, whereupon it is submitted to the local authority. Teaching staffing costs are determined from proposals made by the member of SLT with timetable responsibility recommending the number of teaching staff required to deliver the curriculum. This analysis is then discussed by the Senior Team and an agreed number of staff recommended to the Personnel and Communications Committee of the Governing Body. A timetable relating to the setting of the budget for the College are detailed in the table below. MONTH TASKS December Discuss potential staff changes for the next academic year with the principal and process these on HCSS. January Prepare basic first draft of salary budgets for the Principal using Excel. Check allocations for all non salary cost centres and assess draft budget costs. Indicative budget should be received by the College from Bracknell Forest Council. February Discuss potential salary increases for current staff. Discuss and include and R&R payments that will be continued in the new academic year. Check for any additional staff changes for the next academic year with the Principal. Adjust first draft budget plan if necessary following receipt of the indicative budget. March Check latest costs for buy-back services and apply to the draft budget. Check for any additional staff changes for the next academic year with the Principal. April Produce Budget Monitoring Report for March (Period 12) May Produce Budget Monitoring Report for March (Period 13) and amend draft budget to reflect the final outturn figure for previous year. 27/9/2017 Page 3

4 Check allocations for all non salary costs centres and review previous year actual with initial draft budget and amend as necessary. Present Final Budget to the Principal for approval. Production and presentation of a three year budget forecast for discussion with Governor s at Finance Committee Meeting. Present Final Budget to Governors Finance Committee for approval. Present Final Budget to Full Governing Body for approval. Submit School Budget Plan to Bracknell Forest Council. June Send a copy of the minutes approving the Final Budget to Bracknell Forest Council. Ensure that Final CFR is submitted to Bracknell Forest Council. For additional information relating to the setting of the College budget, please reference the Budget Management Policy. Budget Virements To formally record the amendments to the original budget set by the College as deemed necessary through effective monitoring of the budget throughout the year. Budget virements should be alerted to the Principal by the Business Manager through effective monitoring of the budget on a monthly basis. The Principal and Business Manager will agree the required virements and report these to the Governor Finance Committee for discussion and approval. Once the virements have been approved by Governors, the Business Manager will complete the Virement Form, the Virement Form must be signed by the Principal and then submitted to BFC. Agresso Reports To verify the accuracy of the centrally maintained records relating to expenditure and income in respect of the Main Budget including Devolved Formula Capital. The records held by Bracknell Forest Council are deemed to be the definitive record. Reports are sent to the College using Microsoft Excel via the Bracknell Forest Council Secure Encrypted Messaging System and printed by the Business Manager. The Agresso Reports include entries that have been submitted to Bracknell Forest Council by the College using the Imprest Return. All other items that are included on the Agresso Reports should be entered onto FMS by a member of thebusiness Team at the College. The entries that require processing are: Enter any increase/reduction to funding in FMS Check Salary Projections in FMS and amend against actual salary costs received on the Agresso Reports. Enter income and expenditure to FMS that has been entered centrally by BFC. Raise any discrepancies relating to salary payments with BFC Payroll Department. Check Timesheet entries on Agresso against Timesheets submitted by GHC. Check that any virements that have been submitted to BFC have been amended on the Agresso Reports and then amend FMS accordingly. 27/9/2017 Page 4

5 Imprest The College Imprest Bank Account is in effect a float of BFC funds held locally for the College use. The Imprest advance is set at 200,000. The Imprest account must be maintained in credit, if this is not possible, the Business Manager must notify Education Finance at BFC by at education.finance@bracknell-forest.gov.uk to make arrangements for a temporary overdraft facility. The Imprest return is completed and submitted to Education Finance at BFC by at education.finance@bracknell-forest.gov.uk before the 14 of the subsequent month. The Imprest return informs BFC of all income and expenditure relating to the Imprest Account for inclusion in BFC central accounts currently known as Agresso. A reimbursement of net expenditure (including VAT) as indicated by the Imprest return is made directly into the Super Imprest Bank Account by BFC to bring the balance back to the agreed advance, currently 200,000. The Imprest return must be signed by the Principal to confirm that accuracy of the return and a copy retained by the College for audit purposes. As well as the Imprest return, a copy of the reconciled bank statement, signed by the person completing the reconciliation together with a copy of the printed reconciliation from FMS and the VAT Submittal Report must be sent to Education Finance at BFC. Auto Reconciliation To accurately transfer the detailed payroll information for the College, from BFC using the automatic reconciliation process. The automatic reconciliation file is submitted to the College by BFC via a secure , this is sent monthly after each payroll period. The file is downloaded into FMS by a member of the Business Team and reconciled to the detailed Agresso transaction report received by BFC. Budget Monitoring To ensure that effective and appropriate monitoring of the budget by Governors and the Senior Leadership Team of the College. The costs recorded in FMS are reconciled to the costs that are recorded by BFC, using reports from FMS and Agresso. The costs are reconciled monthly by the Business Team at the College and copies of the reconciliation are signed and filed for audit purposes. The reconciled reports are then used to create the budget monitoring papers for the College using the Budget Monitoring Schedule that is set and agreed at Governors Finance Committee Meeting at the start of each financial year. 27/9/2017 Page 5

6 Ordering and Invoicing To ensure that all costs that have been committed have been recorded on the central system allowing appropriate monitoring and managing of the individual cost centres by the Business Team. Orders must only be used for goods and services provided to the College. Individuals may not use official orders to obtain goods and services for their private use. All orders must be authorised by the budget holder and SLT line manager before they can be processed by the Business Team. All orders must be processed on computer generated pre-numbered order forms within FMS which will ensure that the cost centre does not exceed the budget set. When submitting orders to the Business Team, quotation and expenditure limits must be maintained in accordance with the Scheme of Delegated Authority for the College. Orders will be tracked and amended by the Business Team each half term, goods will either be cancelled if they are no longer available or a delivery date will be established and the order will continue to be tracked until the goods are received. Invoices will only be paid upon authorisation of the relevant budget holder and SLT line manager. Monthly transaction reports are submitted to the budget holder, these should be checked to ensure that all entries are correct and will inform the budget holder of the available funds for their budget. Invoices received where purchase orders have not been generated are monitored by the Business Team and reported monthly to the Business Manager. BFC are re-investigating BACS payments. Garth has offered to be a pilot secondary school for BACS processing, investigating procedures and policy development. Any developments will be shared with the Finance Committee. BFC Procurement Card To allow the College to purchase items online and in stores that we are not able to open 30 day term accounts with. The procurement card enables us to ensure that value for money is achieved at all times and removes the need for staff to purchase items for the College using their own personal accounts. When a member of staff is planning to purchase an item on the procurement card they must ensure that they complete a main budget order form and submit it to the Business office signed by the budget holder and the SLT link member of staff prior to the purchase. Once confirmation of the order has been received from the Business office, the purchase can be made using the procurement card. The official purchase orders will remain on the FMS system as a commitment until the payment is evident on the monthly statement for the procurement card.. When the monthly statement is received, a member of the Business Team completes a procurement card transaction log for each purchase that is itemised on the statement. For each purchase a member of the Business Team attach to the transaction log, a copy of the official purchase order and the receipt for the purchase. The transaction log should be signed 27/9/2017 Page 6

7 by the cardholder and then by an appropriate certifying officer. The completed paperwork should then be submitted back to the Business Office for processing. Petty Cash Petty cash may only be used for the purchase of small sundry items which are not possible to order via an official purchase order. Examples of these purchases include: Perishable items for science experiments. Refreshments for governors meetings. Parcels paid for at the Post Office. Petrol for the tractor. Small items purchased locally. Personal cheques are not to be cashed through the College Petty Cash. The petty cash float must be kept in a locked tin in the safe in the Business Office. Keys to the safe are held by members of the Business Team. The maximum float that can be held by the College at any one time is 300. Cash for the float tin can be obtained from the College bank account at Lloyds Bank, High Street, Bracknell where an open credit arrangement allows cheques to be cashed to a maximum value of 500 per visit by the Business Team. All claims for petty cash must be made using the expenses claim form, signed by the claimant and counter signed by the relevant budget holder or member of the Senior Leadership Team. All petty cash claims must be supported by relevant receipts and must not exceed 30 in value. Petty Cash claims may not be split into multiples of 30 for the same item or purchase. Petty Cash can only be issued by members of the Business Team. For VAT to be reclaimed, payments must be supported by VAT receipts/invoices identifying goods purchased, separating VAT from purchase price, indicating VAT % rate being charged and giving a VAT registration number. Petty Cash is reconciled at the end of every month on FMS by a member of the Business Team and checked by a second member of the team, with both signatures being evident on the monthly reconciliation sheet. Expenses & Reimbursements For staff to be reimbursed for expenses incurred relating to College business. All claims should be made on a monthly basis. Mileage expenses must be submitted on a Mileage Claim Form to the Business Team, signed by the claimant, the line manager and a member of the Senior Leadership Team. The details of the Mileage Claim Form are transferred to the electronic Additional Overtime and Claims Form, signed by a member of the Senior Leadership Team and scanned to Bracknell Forest. Mileage claims are reimbursed via Bracknell Forest Payroll. All other staff expenses are submitted to the Business Team on an Expense Form supported by relevant receipts/tickets. Under 30 will be paid via petty cash; claims over 30 will be paid by cheque. Expense Forms are signed by the budget holder and counter signed by a member of the Senior Leadership Team. Any expenses incurred by the Principal are signed by the Chair or Vice Chair of Governors. 27/9/2017 Page 7

8 Income The College receives income for supplies and services offered by the College. All money should be paid into the Business Office with a completed internal income form or be matched to an invoice/relevant paperwork. The income is logged in the main school budget using FMS against the relevant income cost centre. Lettings The College offers for hire some of its facilities during evenings, weekends and school holidays, except Christmas to increase the income for the College. Once an enquiry has been received the date/dates are checked for availability using Avalon software and communications with the Site and Events Manager. A Contract of Hire Form is issued to the hirer and copy placed in the Lettings Contract File. The hirer will also receive an invoice and the Lettings Policy (if it s the first time of booking). All payments for Lettings are payable in advance and due before the first day of the Letting. When payment is made the income is logged in the main school budget using FMS against the Lettings Income Cost Centre. COLLEGE PRIVATE FUND The College Fund Account is maintained for the same financial year as the main school budget and are independently audited annually. The audited accounts must be presented to Governors. The College Fund is used for fund raising, donations, charities, photographs and school trips. College Fund Income Income for the College Private Fund is banked using the Tucasi Software. Pupils are encouraged to visit the satellite Finance Office or Business Office in person to pay for the goods/trip whereupon an automated receipt can be issued. Staff should not collect the money directly unless a prior arrangement has been made with the Business Manager in advance of collecting the money. Income is banked regularly, at least every week and is taken to the bank by two members of the Business Team. s for charging for College visits are set out in the Trips and Visits Policy. College Fund Expenditure 27/9/2017 Page 8

9 Expenditure for the College Private Fund is recorded using the Tucasi software. Invoices will only be paid upon authorisation of the relevant budget holder and SLT line manager. Monthly transaction reports are submitted to the budget holder, these should be checked to ensure that all entries are correct and will inform the budget holder of the available funds for their budget. College Fund Petty Cash Petty cash may only be used for the purchase of small sundry items which are not possible to order via an official purchase order. Personal cheques are not to be cashed through the College Petty Cash. The petty cash float must be kept in a locked tin in the safe in the Business Office. Keys to the safe are held by members of the Business Team. The maximum float that can be held by the College at any one time is 300. Cash for the float tin can be obtained from the College bank account at Lloyds Bank, High Street, Bracknell where an open credit arrangement allows cheques to be cashed to a maximum value of 500 per visit by the Business Team. All claims for petty cash must be made using the College Fund petty cash claim form, signed by the claimant and counter signed by the relevant budget holder or the Principal. All petty cash claims must be supported by relevant receipts and must not exceed 30 in value. Petty Cash claims may not be split into multiples of 30 for the same item or purchase. Petty Cash can only be issued by members of the Business team. Petty Cash is reconciled at the end of every month on Tucasi by a member of the Business Team and checked by a second member of the team, with both signatures being evident on the monthly reconciliation sheet. PAYROLL The College payroll is currently administered by Bracknell Forest Council. The Business Team are responsible for informing payroll of any information relating to employees salaries. All forms submitted to BFC payroll team must be copied and the copy retained at the College for audit purposes. All timesheets must be authorised by a member of the senior team of the College in accordance with the Payroll Register of Certifying Officers. Copies of sample timesheets are included in the Appendices section of this manual. REGISTER OF CERTIFYING OFFICERS The purpose of the Register of Certifying Officers documents is to list the accountable staff, their specimen signatures and the financial limits of their authority on an individual basis. A Register of Certifying Officers needs to be completed for the three areas of financial responsibility listed below. These registers are renewed and/or amended by the Governors 27/9/2017 Page 9

10 each September. These registers are held with the Business Manager and a copy of the Payroll Certifying Officers Register is submitted to Education Finance who must also be notified of any changes in year. Sample forms are also included in the Appendices section of this manual. 1. Payroll includes timesheets and travel claims. 2. Revenue includes accounts payable, purchase orders, debtors write-offs, imprest account and petty cash in relation to the main budget. 3. Capital includes accounts payable, purchase orders, debtors write-offs, imprest account in relation to the capital budget. HUMAN RESOURCES The College Human Resources related matters are currently administered by the BFC HR Team. All forms submitted to BFC HR Department must be submitted by the beginning of the calendar month if the employee is expecting to receive pay at the end of that same month. A copy of any forms that are submitted must be copied and retained in the individual HR file that is maintained for each member of staff. Copies of any letters that affect an employee s pay must also be copied for the Business Manager to enable the budget for the College to be updated. All forms authorising changes that affect an employees pay must also be copied for the Business Manager for budgetary purposes. Teachers seeking advancement through the upper threshold and senior managers advancing through the leadership salary system are subject to review by the relevant Governors committee. Sample forms are included in the Appendices section of this manual. FREE SCHOOL MEALS (FSM) To ensure that all children entitled to free school meals receive these in a quick and efficient way without the system being abused. BFC control and monitor eligibility for FSM and forward to the College a list of pupils that are entitled/may not be entitled to FSM on a yearly basis. Any amendments required during the term time are notified to the College on an individual case by case basis. The Admin Team amend the pupil data on Sims and advise the Business Team when this has been completed. The Business Team and Admin Team reconcile the Sims data to the BFC data to ensure that the correct information is accurately reflected on Sims. Letters are sent home to the parents/carers, by the Business Team, to notify them of any changes to entitlement. The amended entitlement is submitted to the Catering Manager, the Family Support Advisor and the Senior Teacher with responsibility for Safeguarding BURSARY FUND 27/9/2017 Page 10

11 To ensure that all children entitled to Bursary Funds are assessed using a robust and fair system and then issued with the funds within a quick and efficient time frame. All pupils requesting a bursary are required to complete an application form. All application forms should be submitted to the Business Office with the appropriate evidence of household income or other eligibility, as stated on the application form. All applications are checked against the eligibility set by the College in the application form and the bursary statement. Pupils are then notified via the Head of Sixth Form of the outcome of the application and payments are usually made direct to the pupils on a termly basis by cheque. In some cases payment will be made directly on behalf of the student e.g. to pay towards a school trip rather than paying the student directly. The Business Team seek approval from the Head of Sixth Form to ensure that they meet the criteria required to receive the termly payment, details of this criteria are listed in the statement issued by the College. 27/9/2017 Page 11

12 APPENDICES Appendix A Appendix B Appendix C Appendix D Appendix E Appendix F Appendix G Appendix H Appendix I Appendix J Appendix K Budget Management Policy Scheme of Delegated Authority Main Budget Order Form Procurement Card Transaction Log Main Budget Income Receipt Lettings Policy Trips and Visits Policy Sample Timesheets Certifying Officers Forms Sample HR Forms Bursary Fund Statement and Forms 27/9/2017 Page 12

13 Appendix A Budget Management Policy 27/9/2017 Page 13

14 Appendix B Scheme of Delegated Authority 27/9/2017 Page 14

15 Appendix C Main Budget Order Form 27/9/2017 Page 15

16 Appendix D Procurement Card Transaction Log 27/9/2017 Page 16

17 Appendix E Main Budget Income Receipt 27/9/2017 Page 17

18 Appendix F Lettings Policy 27/9/2017 Page 18

19 Appendix G Trips and Visits Policy 27/9/2017 Page 19

20 Appendix H Sample Timesheets 27/9/2017 Page 20

21 Appendix I Certifying Officers Forms 27/9/2017 Page 21

22 Appendix J Sample HR Forms 27/9/2017 Page 22

23 Appendix K Bursary Fund Statement and Forms 27/9/2017 Page 23