Schools are in receipt of a variety of types of income including: lettings, grants, school meals, music tuition, swimming fees, sales of materials, vending machines, exam fees etc. Care should be taken in ensuring that the income is coded to the correct income or recharge code.
Income codes are to be used when the income is new to the Authority i.e. directly from an external source such as a parent, School Fund, Academy or BLT, etc. or for funding/grants from the LA. Recharge codes are to be used when the income has come from another part of the Authority, e.g. from another LA school or from a Central Service.
Please see coding list Schools coding list 2017-18
Income collected should be recorded on FMS, including VAT where necessary please see VAT guidance on the schoolsweb VAT guidance.
A project is currently underway for all income collected by external payment providers to be paid directly into school budget share rather than school fund. As soon as this has been finalised we will inform schools of the new procedure.
Schools that have an arrangement with finance to bank cheques on their behalf should send their cheques & RACLs to the Accounts Receivable Team, 11th Floor NCO, Walton Street, Aylesbury, Bucks, HP20 1UD
The current charge for this service is £1.21 per cheque banked.