Activity Trust Board Committee Accounting Headteacher Staff Comments Officer 4. Budget BM 4.1 Overseeing the preparation of F&GP Chair BM present to Preparation of BM will prepare the annual budget plan and present to Trust Finance & annual budget in budgets with the ensuring it links to the priorities Board General Purposes line with AIP. help of the established by the Academy Committee Ensuring good Headteacher, self-evaluation form (SEF) and value for money the Asset Management and against priorities Premises Development plans. Review Budget Approving the final budget. 4.2 Approval Make BM to Equitas Academies recommendation present Trust Board will to the Trust approve the final Board budget of both Academies Academy budgets to Trust Chair of Trust BM will issue a 4.3 Board within the agreed Board to budget timetable to timescale receive/convey coincide with the Trust approval YPLA reporting deadlines 4.4 Monitoring actual year to date F&GP chair Finance & Review monthly BM to Monitored on a income and expenditure /BM to present General Purposes management prepare monthly basis and against budget and explain management Committee accounts and report reported to FG&P Variances report to the at least once per Trust Board term by BM Over £50k 4.5 Approving transfer between Finance & Headteacher All virements in budget headings (virements) General has authority for aggregate within agreed limits. Purposes virements up to exceeding £10,000 Committee can £10,000 in any one term authorise between virements up to departments must £50,000 be reported to FG&P
Activity Trust Board Committee Accounting Officer Headteacher Staff Comments 4. Budget 4.1 Overseeing the preparation of the annual budget plan and ensuring it links to the priorities established by the Academy self-evaluation form (SEF) and the Asset Management and Premises Development plans. F&GP Chair present to Trust Board BM present to Finance & General Purposes Committee Preparation of annual budget in line with AIP. Ensuring good value for money against priorities Review Budget BM BM will prepare budgets with the help of the Headteacher, 4.2 Approving the final budget. Approval Make recommendation to the Trust Board BM to present Equitas Academies Trust Board will approve the final budget of both Academies 4.3 Academy budgets to Trust Board within the agreed timescale Chair of Trust Board to receive/convey Trust approval BM will issue a budget timetable to coincide with the YPLA reporting deadlines 4.4 Monitoring actual year to date income and expenditure against budget and explain Variances F&GP chair /BM to present management report to the Trust Board Finance & General Purposes Committee Review monthly management accounts BM to prepare and report Monitored on a monthly basis and reported to FG&P at least once per term by BM 4.5 Approving transfer between budget headings (virements) within agreed limits. Over £50k Finance & General Purposes Committee can authorise virements up to £50,000 Headteacher has authority for virements up to £10,000 All virements in aggregate exceeding £10,000 in any one term between departments must be reported to FG&P
Equitas-Trust-Governance-Booklet-2017-2018.docx