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Terms of Reference
- review the final budget plan and approve on behalf of the full governing body;
- ensure preparation of a draft budget based on priorities, in the school development plan;
- notify the approved budget plan to the LA;
- agree the levels of delegation to the headteacher and chair of Resources for the day-to-day financial management of the school;
- monitor income and expenditure of all public funds according to an agreed timescale i.e. budget share and any other funds;
- approve transfer between budget headings (virement) within agreed limits;
- authorise signatories for the school bank account for notification to the County Treasurer;
- arrange audit of non-LA funds received;
- respond to any issue arising from the audit of the school accounts;
- prepare any financial information for reports required by law;
- approve any disposal of assets from the Inventory, before actual disposal in line with scheme of delegation.
- agree procedures for governors to claim expenses;
- undertake an annual programme of repairs and maintenance after carrying out an annual inspection of the premises;
- oversee major capital works and improvements, building responsibilities;
- ensure the availability of the governors’ contribution of 10%;
- arrange the letting of contracts in accordance with the LA’s Standing Orders;
- agree the level of maintenance service the school wishes to buy from service providers;
- monitor and review the lettings and charges policy for the use of school premises which takes account of the needs of the local community and any rules/recommendations set by the LA on community use outside school hours;
- ensure adequate premises insurance;
- monitor and review policies for security and fire safety, health and safety, including monitoring procedures;
- ensure the school complies with health and safety regulations;
- ensure that suitable risk assessments are prepared and that action is taken to minimise risk;
- take any necessary action to meet governors’ responsibilities under the Environmental Protection Act 1990, relating to litter and refuse;
- monitor gas, water, electricity services.
- ensure maintenance of signatories for Governor Fund accounts;
- ensure annual audit of Governor Fund accounts carried out;
- ensure that SFVS requirements are reviewed and monitored.