Introduction This guidance document is produced by the Education and Skills Funding Agency (ESFA). It provides clarification for each of the 25 questions on the schools financial value standard (SFVS) assessment form, the completion of which is a mandatory requirement for local authority (LA) maintained schools. The SFVS helps schools to manage their finances and to provide assurance to the LA that they have secure financial management in place. The guidance applies to: governing bodies of maintained schools management committees of pupil referral units LAs other interested parties Other schools are welcome to use any of the material associated with the standard, if they would find it useful. This guidance includes examples of good practice and details further support available to assist schools in addressing specific issues. We have produced additional resources to help schools complete the SFVS effectively. This includes guidance on reviewing and analysing the spread of skills and competencies amongst governors and staff with financial management responsibilities.
Introduction This guidance document is produced by the Education and Skills Funding Agency (ESFA). It provides clarification for each of the 25 questions on the schools financial value standard (SFVS) assessment form, the completion of which is a mandatory requirement for local authority (LA) maintained schools. The SFVS helps schools to manage their finances and to provide assurance to the LA that they have secure financial management in place. The guidance applies to: governing bodies of maintained schools management committees of pupil referral units LAs other interested parties Other schools are welcome to use any of the material associated with the standard, if they would find it useful. This guidance includes examples of good practice and details further support available to assist schools in addressing specific issues. We have produced additional resources to help schools complete the SFVS effectively. This includes guidance on reviewing and analysing the spread of skills and competencies amongst governors and staff with financial management responsibilities.
svrshir07-res_shirehall-financeeducation-schools-sfvs-sfvs-march-2019-sfvs_support_notes_2018-19_.docx