Summary of Financial Authorisation Levels Delegated Duty Value Delegated Authority Up to £10,000 Budget Holder plus Business Manager 1 Ordering Goods and Services (raising requisitions) All ICT related purchases must also be approved by the £10,001 - £50,000 As above plus Head Teacher and/or Finance Academy Head of ICT Director £50,001 - £100,000 As above plus Chief Executive Tendering procedures as per Appendix 2 Over £100,000 Finance and Resources Committee 2 Signatories for cheques and payment authorisations for Any Two signatories from: - Head Teacher individual academies - Deputy Head Teacher (including BACS payments other than payroll) - Assistant Head Teacher - Business Manager - Finance Director 3 Signatories for cheques and payment authorisations for MAT Any Two signatories from: - Chief Executive - Finance Director - Head Teachers Any Business Manager, reviewed by Finance Director 4 Payroll BACS 5 Signatories for DfE grant claims and DfE returns for individual Any Two signatories from: academies - Finance Director - Head Teachers - Chief Executive - Business Manager 6 Signatories for DfE grant claims and DfE returns for MAT Any Two signatories from: - Chief Executive - Finance Director - a Board Director (Trustee) 7 Virement of budget provision between budget heads Up to £10,000 Business Manager, reporting to the Finance Director £10,001 - £50,000 As above plus Finance Director, reported to the Audit Committee £50,001 - £100,000 As above plus Head Teacher, reporting to the Audit Committee
Summary of Financial Authorisation Levels Delegated Duty Value Delegated Authority 1 Ordering Goods and Services (raising requisitions) All ICT related purchases must also be approved by the Academy Head of ICT Tendering procedures as per Appendix 2 Up to £10,000 Budget Holder plus Business Manager £10,001 - £50,000 As above plus Head Teacher and/or Finance Director £50,001 - £100,000 As above plus Chief Executive Over £100,000 Finance and Resources Committee 2 Signatories for cheques and payment authorisations for individual academies (including BACS payments other than payroll) Any Two signatories from: - Head Teacher - Deputy Head Teacher - Assistant Head Teacher - Business Manager - Finance Director 3 Signatories for cheques and payment authorisations for MAT Any Two signatories from: - Chief Executive - Finance Director - Head Teachers 4 Payroll BACS Any Business Manager, reviewed by Finance Director 5 Signatories for DfE grant claims and DfE returns for individual academies Any Two signatories from: - Finance Director - Head Teachers - Chief Executive - Business Manager 6 Signatories for DfE grant claims and DfE returns for MAT Any Two signatories from: - Chief Executive - Finance Director - a Board Director (Trustee) 7 Virement of budget provision between budget heads Up to £10,000 Business Manager, reporting to the Finance Director £10,001 - £50,000 As above plus Finance Director, reported to the Audit Committee £50,001 - £100,000 As above plus Head Teacher, reporting to the Audit Committee
Finance-Policy.docx