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Finance

What is included?

 

All DSAT academies will benefit from:

  • Access to advice, guidance and support via e-mail and telephone from our dedicated finance team 
  • Support and guidance visits as appropriate
  • Statutory ESFA returns completed on your behalf which include:
    • Budget return (BF3YR)
    • Land and Buildings return
    • Annual rates reclaim
    • Budget Forecast Outturn return (BFRO)
    • Annual accounts return (AAR)
  • External audit co-ordination, agreement of audit plan and production of MAT Financial Statements and Annual Report
  • Internal audit – management of service and costs
  • VAT returns, completion and liaison with HMRC
  • Bank co-ordination and set up which include:
    • Local academy bank account (for receipt local income)
    • Purchasing cards
    • Petty cash system (as appropriate)
    • Management of Direct debits (as appropriate)
  • Administration of Finance System and Budgeting systems
  • Administration and co-ordination of Payroll service
  • MIS co-ordination of transfer of licence on conversion to Academy status Production of Trust-wide finance regulations and procedures which reflect requirements included in the Academies Handbook circulated annually by the ESFA
  • Design and responsibility for the financial scheme of delegation
  • ESFA funding co-ordination and processing
  • Co-ordination and regular processing of supplier payments via our purchase ledger
  • Co-ordination and completion of annual Conditional Improvement Fund (CIF) bids to fund major infrastructure improvements
  • Financial reports, includes annual performance review and regular financial overview report
  • Budget setting guidance and support
  • Corporate risk register
  • Oversight of Insurance (including staff absence) guidance and co-ordination
  • Central register of leases and contracts
  • Capital asset register
  • Termly finance staff meetings across DSAT to provide opportunities for training and networking

 

What is not included?

 

  • Day to day monitoring of academy budget and input of documents such as purchase orders, invoices, cash receipts etc.
  • Initial drafting of the annual budget (support is available to assist with this)
  • Annual licence charges for finance, budgeting, MIS software and monthly payroll service costs
  • Costs of project manager for CIF capital bids (typically covered within overall bid costs for grant funding)

 

Additional information

 

The Finance Team can advise as appropriate on any bids for additional funding to bodies such as charitable trust funds and procurement exercises.

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