Budgeting and Reporting Role Value Delegated Authority Method Review Period Executive Director and Principal Agree academy improvement priorities Annual Academy Principal and Management team budget plan Annual Executive Director and Principal Agree budget plan Annual Governing Body Approve budget plan for submission to the Regional Finance Committee Regional and/or Trust Board it must provide a full explanation to the Governing Body of the reasons and the timescales by which an alternative budget should be provided. Approve or reject Budget setting process budget after applying If the Trust or Regional Board has lost confidence in the the 2 Golden Rules ability of the Governing Body to set a budget that meets Tests the 2 Golden Rules Tests’, it will provide a full written explanation to the Governing Body for its judgement. If the Trust or Regional Annual Under these wholly exceptional circumstances, the Board require the Executive Director will take responsibility for Governing Body to recommending a budget plan to the board reconsider the budget then Budget monitoring is the responsibility of the budget As per the holder and the budget must not be overspent at any time Budget holders Principal, SLT and other budget individual during the year unless through prior agreement from the holders responsibilities Monthly budgets set appropriate authorisation level.
Budgeting and Reporting Role Value Delegated Authority Method Review Period Executive Director and Principal Agree academy improvement priorities Annual Academy Principal and Management team budget plan Annual Executive Director and Principal Agree budget plan Annual Governing Body Approve budget plan for submission to the Regional Finance Committee Budget setting process Regional and/or Trust Board Approve or reject budget after applying the 2 Golden Rules Tests If the Trust or Regional Board require the Governing Body to reconsider the budget then it must provide a full explanation to the Governing Body of the reasons and the timescales by which an alternative budget should be provided. If the Trust or Regional Board has lost confidence in the ability of the Governing Body to set a budget that meets the 2 Golden Rules Tests’, it will provide a full written explanation to the Governing Body for its judgement. Under these wholly exceptional circumstances, the Executive Director will take responsibility for recommending a budget plan to the board Annual Budget holders responsibilities As per the individual budgets set Principal, SLT and other budget holders Budget monitoring is the responsibility of the budget holder and the budget must not be overspent at any time during the year unless through prior agreement from the appropriate authorisation level. Monthly
Astrea-Scheme-of-Delegation-of-Financial-Powers-at-REV-13-May.docx