Most LA schools use the Budget Planning Software (BPS) to formulate their annual budget but many others will use alternative solutions and perhaps even an MS Excel Spreadsheet to at least plan and formulate the budget for Year 1.
Accordio Education Services prefers to maintain transparency when formulating a school budget to ensure that everyone understands how it has been formulated, what the out-turn figures were for the previous financial year and then using that information (together with the School Improvement Plan) to formulate the budget expectations for future years. All future plans are detailed in the 3-Year Plan Comments Sheet.
There will be an expectation that all contracts, subscriptions and other known expenditure together with all expected income will be shared with our team in order for the budget to be formulated in its entirety.
The service includes:
- Population of the KELSI Budget Funding Template data based on local knowledge of the Pupil Premium, Sports Premium, High Needs Funding, EYFS etc.
- Formulating the budget plan for Year 1 using an MS Excel spreadsheet that details all ledger codes/cost centres to clearly show:
- Year-end out-turn for the previous financial year
Revenue, pupil premium and sport premium funding and expenditure
All contracts, subscriptions and projects
- Populating the Budget Planning Software (BPS) three-year plan including:
- Employee scenario
- Funding scenario
- Other income and expenditure scenario
- Input of rollover figures from the previous financial year for both revenue and capital funding
Formulated plans will take account of pupil roll fluctuations (as detailed in the populated KELSI Budget Funding Template), proposed or expected personnel changes, all income streams, identified School Improvement Plan priorities and other expected changes in circumstances in the school over the medium term.
- Input of the budget into the schools Financial Management System (FMS6 etc.)
- Production of a 3-year Budget Plan Comments Sheet to be provided to the Governing Body with the 3-Year Budget Plan for approval and then for submittal with the statutory paperwork to the LA.