FINANCE AND PREMISES COMMITTEE – TERMS OF REFERENCE
The Finance and Premises Committee supports the Governors in their duty to oversee the effective financial and premises management of the school, including maintaining an overview of a 3 year financial plan and the on-going budget position.
- To act on matters delegated by the full governing body.
- To liaise and consult with other committees where necessary.
- To contribute to the School/Academy Improvement Plan.
- To consider safeguarding and equalities implications when undertaking all committee functions.
Terms of Reference – Specific to Finance:
- to consider the academy’s indicative funding, notified annually by the ESFA, and to assess its implications for the academy, in consultation with the principal, in advance of the financial year, drawing any matters of significance or concern to the attention of the governing body;
- to consider and recommend acceptance/non-acceptance of the academy’s budget, at the start of each financial year;
- to contribute to the formulation of the academy’s development plan, through the consideration of financial priorities and proposals, in consultation with the principal, with the stated and agreed aims and objectives of the academy;
- to receive and make recommendations on the broad budget headings and areas of expenditure to be adopted each year, including the level and use of any contingency fund or balances, ensuring the compatibility of all such proposals with the development priorities set out in the development plan;
- to liaise with and receive reports from the Personnel Committee, as appropriate, and to make recommendations to that committee about the financial aspects of staffing matters being considered by them;
- to monitor and review expenditure on a regular basis and ensure compliance with the overall financial plan for the academy, and with DfE financial regulations, drawing any matters of concern to the attention of the governing body;
- to review procedures, ensuring the effective implementation and operation of financial procedures, on a regular basis, including the implementation of bank account arrangements and, where appropriate to make recommendations for improvement;
- to prepare the financial statement to form part of the annual report of the governing body to parents and for filing in accordance with Companies Act and Charity Commission requirements;
- to receive auditors’ reports and to recommend to the full governing body action as appropriate in response to audit findings;
- to recommend to the full governing body the appointment of auditors;
- to report significant anomalies from the anticipated position to the Governing Body;
- to ratify decisions in respect of service agreements;
- to keep an overview/report to the Board on any other financial matter as and when necessary.
In line with requirements from the Education and Skills Funding Agency the Finance Committee will also undertake the role of an audit and risk committee and undertake the following duties:
- review the body’s internal and external financial statements and reports to ensure that they reflect best practice;
- discuss with the external auditor the nature and scope of each forthcoming audit and to ensure that the external auditor has the fullest co-operation of staff;
- consider all relevant reports by the Education and Skills Funding Agency or the appointed external auditor, including reports on the body’s accounts, achievement of value for money and the response to any management letters;
- review the effectiveness of the body’s internal control system established to ensure that the aims, objectives and key performance targets of the organisation are achieved in the most economic, effective and environmentally preferable manner;
- ensure that the body’s internal audit service meets, or exceeds, the standards specified in the Government Internal Audit Manual, complies in all other respects with these guidelines and meets agreed levels of service;
- with effect from 1 April 2013, ensure the Academy’s internal audit arrangements comply with the Public Sector Internal Audit Standards, and meets agreed levels of service and performance;
- consider and advise the board on the body’s annual and long-term audit programme;
- consider internal audit reports, including value-for-money reports and the arrangements for their implementation;
- consider the risk based annual plan of engagements and the high level audit strategy which should state how the internal audit service will be delivered and developed and how it links with the Academies objectives and priorities;
- review the operation of the body’s code of practice for board members and code of conduct for staff;
- consider any other matters where requested to do so by the board; and
- report at least once a year to the board on the discharge of the above duties.
Terms of Reference – Specific to Premises
- receive external audit reports and to monitor the implementation of the respective action plans;
- ensure that effective recording systems are in place to support audits;
- monitor the management of all issues related to the buildings and site including repairs and maintenance of the school, in terms of both indoor and outdoor spaces;
- oversee and advise on matters related to contracts including the tendering process, awarding of contracts in compliance with ‘best value’ principles and monitoring the implementation of the service provided;
- receive health and safety reports and monitor any actions necessary with regard to health and safety in line with the School’s “Health and Safety Policy Statement”;
- review and monitor the arrangements relating to the hiring of the school facilities;
- ensure premises-related expenditure and premises-related funding bids are given proper scrutiny.
Niki Nakamura, Co-opted (Committee Chair)
Kate Andrews, Principal
Harry Rouse, Appointed
Jill Tate, Appointed
Lyn Rushbrooke, Appointed
Rachel Green, Co-opted
Brendan O’Keeffe, Academy Business Manager
Diane Philpotts, Finance Officer
Stuart Askew, Premises Manager
Denise Stevens, Health and Safety Officer
Committee Clerk: Mel Whitehead