Finance Administrators and Bursars Group

Liz Burden

Jan Powley

November 2012

Agenda – Morning Session

Welcome and Introductions School Funding Reform School Contracts Audit SFVS FPS – LGP Employers Pension Increase Coffee Break Teachers2Parents-Update LMS Financial Services Survey Feedback Making Payments to Individuals Best Practice, Questions and Close

Agenda – Afternoon Session

Welcome and Introductions Teachers2Parents-Update School Funding Reform LMS Financial Services Survey Feedback Making Payments to Individuals Coffee Break SFVS FPS – LGP Employers Pension Increase School Contracts Audit Best Practice, Questions and Close

SFVS

Working days to 31 March 2013? Due to the Easter holidays the self-assessment

signed by the Chair of Governors will need to be submitted by 28 March

Schools should electronically submit their completed SFVS return to lms@luton.gov.uk

Who is going to complete the process in your school?

DfE have made some changes to the SFVS main web page and updated the FAQs

FPS – LGP Employers Pension Increase

Increase in Employer’s Pensions Contributions for the Local Government Pensions Scheme with effect from 1 April 2013

Produce a budget scenario with the 21.1% increase to identify what the impact it will have on the budget

Notify governors of the impact this will have on the budget, as this will have an effect on any future decision making

LMS Financial Services Survey Feedback

Making Payments to Individuals

Before engaging someone complete employment status questionnaire

If indicates employed pay centrally through payroll and attach a copy of the employment status questionnaire

If indicates self employed, the person you are engaging will need to complete self-employment questionnaire

Go onto the HMRC website using the self-employment questionnaire to complete the HMRC self employment indicator tool, print out the last page with the results

Making Payments to Individuals

If indicator states that the individual is self employed, the invoice is alright for the school to pay. Keep evidence of self employment status attached to invoice

If indicator says the individual is an employee pay centrally through payroll, attach copies of two questionnaires and the HMRC results to the invoice

If indicator provides an inconclusive result a number will be provided for schools to contact for more clarification

Best Practice & Guidance

Autumn Term Recompense up to and including 31 December – by 18 January

Timesheets – please code correctly before sending to payroll

Updated Finance Manual on the grid – together with a list of changes

Other updated documents – Finance Regulations, Purchase Card Scheme and Procurement Checklist

Best Practice & Guidance

School Lettings PolicyNo longer required to provide information

on floor area changes and free school meals due to changes in the factors that will be used to calculate formula funding

Unreconciled bank items from previous years

Best Practice & Guidance

Password security – ICO SurveyBenchmarking – The data for

financial year 2011-12 is now available on the DfE website

Benchmarking website, https://www.education.gov.uk/sfb/ Next FABGs meeting is Monday 18

March at LLRC