Finance

Preparing your Financial Year End 2018/19

Schools have to close their current financial year 2018/2019 accounts to Manchester City Council by Thursday 18th April 2018. As Easter holidays fall before the deadline there will be a tight turn around in order for your school to meet the LA deadline.

By Petra Pratt on 14 Feb 2019

Schools have to close their current financial year 2018/2019 accounts to Manchester City Council by Thursday 18th April 2018. As Easter holidays fall before the deadline there will be a tight turn around in order for your school to meet the LA deadline.

To assist schools to have a smoother year end, as part of your current SLA, we will be issuing you with a series of year end reminders that will be emailed to each school. These year end reminders will help your school to prepare and ensure that everything is ready for your actual close down of FMS6.

There will be eight separate reminders as listed below and they will be sent out at varying but appropriate times throughout March 2019 and very early April 2019.

Year End Reminders

  1. Outstanding Purchase Orders
  2. Cheque Processing
  3. Invoices Received
  4. Income to Bank Account
  5. Petty Cash
  6. New 2018-2019 Financial Year
  7. Outstanding Manchester City Council Invoices
  8. VAT Return – March 2018

If you have any questions or queries regarding year end then please contact your designated Support Officer or One Education Schools Finance Team on 0844 967 1111

SFVS – School Financial Value Standard

Each year Local Authority maintained schools must conduct a review against SFVS requirements and complete and submit a self-assessment.

Things you need to know:

  • Dates must now also be given for when the self-assessment was agreed by the Full Governing Body and when it was submitted to the Local Authority.
  • The assessment must be signed in ink, and not electronically by the Chair of Governors.
  • You can submit it as soon as it has been approved and signed – you do not need to wait until the March deadline
  • Deadline date this year is 31st March 2019

School Finance Training Opportunities

Training and developing finance staff can be a complex task for busy schools. With our dedicated training courses individuals can get to grips with the day to day financial administration, management and budgeting of school finances.

Our courses are designed for delegates to take a hands on approach to learning, whether that be for the first time or as a refresher. Delegates will navigate the system independently and at their own pace with detailed instruction and support from experienced professionals.

Our forthcoming training dates are as follows:

FMS6 User Training – Thursday 14th February 2019 Access Budgeting (HCSS) User Training – Thursday 28th February 2019 FMS6 Advanced Training – Thursday 7th March 2019 FMS6 Charge Card Reconciliation Training – Thursday 14th March 2019

To book or make enquiry please go to our events page or email schoolfinance@oneeducation.co.uk

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