The following instructions seek to ensure that all official income collected at schools is properly receipted and banked promptly and intact either to the Authority's central bank account or to the school's local bank account, as appropriate. Requirements concerning the writing off of uncollected official income are also covered. The School Fund guidance notes sets out guidance in relation to income due to the school's budget share arising from the operation of voluntary and other funds. .
7.1 Schools are in receipt of a various streams of funding including locally raised income.
This income is paid into the school's budget and is additional to their school budget share allocation. Schools may raise income from a range of different sources, except where:
(a) the source of income is subject to statutory control (e.g. tuition fees); (b) the activity puts the school's budget share at risk.
7.2 All schools should record the receipt of income into the local finance system (e.g. SIMS FMS) instructions are available on the SchoolsWeb.
7.3 As part of the End of Year procedures each Headteacher shall supply the Head of Finance in accordance with the published timetable, details of all monies due in the current financial year.
7.4 The Head of Finance shall be notified promptly of all monies due to the Authority under contracts, leases, tenancy and other agreements, conveyances and other arrangements entered into which involve the receipt of money and the Head of Finance shall have access to the original documents or relevant particulars.
7.5 Acknowledgements for money received on behalf of the Authority shall be given by any school employee on official receipts form as approved by the Head of Finance. This instruction shall not apply to any legal document prepared by the Head of Legal and Democratic Services.
7.6 Cash receipting machines used for the purpose of receipting official income shall only be used in accordance with procedures agreed in writing with the Head of Finance.
7.7 All sums of official income received by school employees shall be banked intact and without delay to the central bank account or to the school's local bank account or paid over to the Head of Finance.
7.8 Any school employee who receives money on behalf of the Authority shall keep an accurate and chronological account of all receipts and deposits into the central bank account or the school's local bank account or made with the Head of Finance and shall keep any other records as may be required by the Head of Finance.
7.9 Official money received shall not be used to cash personal or any other cheques.
7.10 No money due to the Authority shall be written off without the authority of the Head of Finance Service Director, except where the loss does not exceed £1,000.. For amounts less than £1000 it is for the Governing Body to determine arrangements for control of write-offs.
7.11 Schools must agree a Charging & Remissions Policy and it is for the Governing Body to determine who shall be responsible for both establishing & reviewing this policy.
7.12 Schools must agree a Scale of Charges & it is for the Governing Body to determine who shall be responsible for both setting & reviewing charges
7.13 The Head of Finance is the appointed Money Laundering Officer (MLRO). Any cash receipt of a significant sum can only be accepted if processed in accordance with the Money Laundering Policy.