Budget Plan. Audited Annual Accounts (31 August 2015) Financial Reporting

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2 Budget Plan Task Date Body Approve indicative budget for 16/17: 12 May Finance Committee Approve indicative budget for 16/17: 23 June 5 Governing Body Submission academies budget forecast 31 July EFA Audited Annual Accounts (31 August 2015) Task Date Body Consideration of audited annual accounts October Finance Committee Approval of audited annual accounts November Governing Body Submission of audited annual accounts 31 December EFA & Companies House Value for Money Statement 31 December EFA LGPS EOYC 30 September Teacher s Pensions Corporation Tax Return March 2017 HMRC Additional Accounts Return 31 January 2017 EFA Financial Reporting Who Weekly Monthly Half Termly Termly Annually Full Governing Body/Finance Committee Budget Holder View bank statements Cost Centre Summary by Cost centre Budget Position Statement Written Commentary Budget Report Budget position statement with written commentary Capital expenditure report Cash flow statement End of year position Report and Accounts Version 53 Page 2 of 5

3 Bank Account Bank Account Name Stradbroke High School Sort Code Account Number Bank Signatories (minimum 2) 1. Mr Andrew Bloom - 2. Mr John Axtell Deputy 3. Mrs Karen Millar Assistant 4.Mrs Linda Clark Finance Officer CREDIT CARD Authorised Users 1. Mrs Kaye Atkinson Finance Assistant 2. Mrs Linda Clark Finance Officer Internal Delegation Arrangements Budget Holders are authorised to raise requisitions up to the individual transaction limit, subject to available funds within the cost centre. Transactions exceeding the individual transaction limit or available funds within the cost centre should be referred to the. Delegated Budget/ Responsibility for Individual transaction limit Cost Centre See most recent Cost Centre Listing monitoring See most recent Cost Centre Listing As per cost centre allocation Restricted Fixed Asset Fund Area of Responsibility Reconcile the fixed asset register to the trial balance Responsibility for monitoring Bursar Individual Transaction Limit Minimum capitalisation limit 1,000 Version 53 Page 3 of 5

4 Certifying Officers (orders/invoices/petty Cash/Pay /Lettings) Name Document Type Individual Transaction Limit Mr A Bloom Mr J Axtell Deputy Mrs K Millar Assistant Mrs H Dixon - Bursar Value above which three competitive quotations are sought: Between 5,000 and 50,000 Value above which full competitive tendering arrangements must be 50,000 applied: Expenditure limit above which Finance Committee approval is required: Between scheduled meetings approval may be given by Chair of Governors or Chair of Finance for ratification at the next committee meeting. Virement limit above which Finance Committee approval is required: This can be a fixed amount or % of the General Annual Grant. Each individual transaction value of the virement should not exceed the value set without approval of the Finance Committee. 5,000 5,000 Limit above which receipts must be issued for cash received: 15 cash only Limit above which discrepancies revealed by the inventory check should be reported to the Governors: 500 Value above which Governor approval is required before disposal of equipment: 100 Length of time before bad debts can be written off: 10 weeks from date of debt Version 53 Page 4 of 5

5 Limit above which governor approval is required for the write off of bad debts: All debt write offs Petty cash Maximum amount that can be held: 300 Maximum individual payment: (unless exceptional circumstances) 20 Maximum individual payment (food technology): Maximum individual pre-payment Version 53 Page 5 of 5