ANNEX 1 Summary of Financial Authorisation and Responsibilities Over-riding Requirement Delegated Authority* Value of the for Academy with in-year Other over-riding Delegated Duty purchase/ Method/Comment Deficit Budget Requirement ‘and’ = requires joint contract (Board approved or approval incurred) Less than Budget Holder Selection from previously used £5,000 or approved suppliers or CFO singularly Between Budget holder plus Minimum of three quotes unless With the Approval of the £5,000 and up Principal or School agreed not appropriate by the CEO/EP or CFO to £30,000 Operations CFO No purchases of any value Manager/Business should be made by an Manager Academy where Central Purchasing/Ordering Goods and Services Services purchase and or (raising requisitions) coordinate these, as CFO singularly not including lease detailed under the CFO agreements or local purchasing/contract Over £30,000 Academy Principal and Formal tendering, Procurement With the Approval of the authority purchases coordination list. Such to £50,000 School Operations Framework Agreement or CEO/EP or CFO purchases will be Manager/ Business Formal EU Tender Process co-ordinated by the CFO. Manager or CFO singularly Over £50,000 CEO/EP or CFO Formal tendering, Procurement With the Approval of the to £80,000 Framework Agreement or CEO/EP or CFO Formal EU Tender Process
ANNEX 1 Summary of Financial Authorisation and Responsibilities Delegated Duty Value of the purchase/ contract Delegated Authority* ‘and’ = requires joint approval Method/Comment Over-riding Requirement for Academy with in-year Deficit Budget (Board approved or incurred) Other over-riding Requirement Purchasing/Ordering Goods and Services (raising requisitions) not including lease agreements or local authority purchases Less than £5,000 Budget Holder or CFO singularly Selection from previously used or approved suppliers No purchases of any value should be made by an Academy where Central Services purchase and coordinate these, as detailed under the CFO purchasing/contract coordination list. Such purchases will be co-ordinated by the CFO. Between £5,000 and up to £30,000 Budget holder plus Principal or School Operations Manager/Business Manager or CFO singularly Minimum of three quotes unless agreed not appropriate by the CFO With the Approval of the CEO/EP or CFO Over £30,000 to £50,000 Academy Principal and School Operations Manager/ Business Manager or CFO singularly Formal tendering, Procurement Framework Agreement or Formal EU Tender Process With the Approval of the CEO/EP or CFO Over £50,000 to £80,000 CEO/EP or CFO Formal tendering, Procurement Framework Agreement or Formal EU Tender Process With the Approval of the CEO/EP or CFO