Under the Buckinghamshire Funding Framework, prepared in accordance with the School Standards and Framework Act 1998 and subsequent regulations, it is open to a school Governing Body to delegate responsibilities for the financial management of the school to the Headteacher, who is responsible for the day to day management of the school. Similarly, responsibilities may also be delegated to a committee of the Governing Body, such as a finance committee, which may meet more frequently than the full Governing Body and therefore be in a position to respond more quickly to issues which arise in the financial management of the school. Where such delegation is made it is important that all parties are aware of the extent of their delegated powers, which should be clearly set out and minuted at a meeting of the full Governing Body. Whilst not a comprehensive list, some examples of functions which could be delegated by the full governing body, either to the Headteacher or to a committee of the Governing Body, are set out in Appendix 1 to these Regulations.
2.1 Subject to statutory limitations the Governing Body shall be free to delegate any power granted to them by these Regulations to a committee of the Governing Body or to the Headteacher. The full extent of any such delegations should be formally agreed and minuted at a meeting of the full Governing Body using the model Terms of Reference document which can be found on the SchoolsWeb.
2.2 When the Headteacher or committee carry out any actions which have been formally delegated to them by the Governing Body any such actions shall be deemed to have been taken on behalf of the Governing Body.
2.3 The Head of Finance or his/her representative has the right to attend meetings of Governing Bodies, and committees thereof, to give advice or report on major financial matters affecting his/her statutory responsibility.
2.4 The Governing Body shall delegate power to the Headteacher to incur expenditure for the purposes and up to the amount specified in the approved budget for the relevant financial year as per the limits agreed in the Terms of Reference for Finance Committee.
2.5 Should the Headteacher wish to delegate his/her authority to incur expenditure to other members of staff at the school (s)he shall inform the governing body accordingly and shall maintain a current record of all such delegations.