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Finance Administrators and Bursars Group Meeting Agenda - November 2012

This document outlines the agenda for the Finance Administrators and Bursars Group meeting held in November 2012. It includes sessions on school funding reform, contract audits, updates on Teachers2Parents, financial services survey feedback, and best practice discussions. The meeting agenda is divided into morning and afternoon sessions, with key topics such as the impact of pension contribution increases on budgets, making payments to individuals, and updated finance regulations. Important deadlines and submission guidelines are also highlighted.

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Finance Administrators and Bursars Group Meeting Agenda - November 2012

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  1. Finance Administrators and Bursars Group Liz Burden Jan Powley November 2012

  2. Agenda – Morning Session • Welcome and Introductions • School Funding Reform • School Contracts Audit • SFVS • FPS – LGP Employers Pension Increase • Coffee Break • Teachers2Parents-Update • LMS Financial Services Survey Feedback • Making Payments to Individuals • Best Practice, Questions and Close

  3. Agenda – Afternoon Session • Welcome and Introductions • Teachers2Parents-Update • School Funding Reform • LMS Financial Services Survey Feedback • Making Payments to Individuals • Coffee Break • SFVS • FPS – LGP Employers Pension Increase • School Contracts Audit • Best Practice, Questions and Close

  4. SFVS • Working days to 31 March 2013? • Due to the Easter holidays the self-assessment signed by the Chair of Governors will need to be submitted by 28 March • Schools should electronically submit their completed SFVS return to lms@luton.gov.uk • Who is going to complete the process in your school? • DfE have made some changes to the SFVS main web page and updated the FAQs

  5. FPS – LGP Employers Pension Increase • Increase in Employer’s Pensions Contributions for the Local Government Pensions Scheme with effect from 1 April 2013 • Produce a budget scenario with the 21.1% increase to identify what the impact it will have on the budget • Notify governors of the impact this will have on the budget, as this will have an effect on any future decision making

  6. LMS Financial Services Survey Feedback

  7. Making Payments to Individuals • Before engaging someone complete employment status questionnaire • If indicates employed pay centrally through payroll and attach a copy of the employment status questionnaire • If indicates self employed, the person you are engaging will need to complete self-employment questionnaire • Go onto the HMRC website using the self-employment questionnaire to complete the HMRC self employment indicator tool, print out the last page with the results

  8. Making Payments to Individuals • If indicator states that the individual is self employed, the invoice is alright for the school to pay. Keep evidence of self employment status attached to invoice • If indicator says the individual is an employee pay centrally through payroll, attach copies of two questionnaires and the HMRC results to the invoice • If indicator provides an inconclusive result a number will be provided for schools to contact for more clarification

  9. Best Practice & Guidance • Autumn Term Recompense up to and including 31 December – by 18 January • Timesheets – please code correctly before sending to payroll • Updated Finance Manual on the grid – together with a list of changes • Other updated documents – Finance Regulations, Purchase Card Scheme and Procurement Checklist

  10. Best Practice & Guidance • School Lettings Policy • No longer required to provide information on floor area changes and free school meals due to changes in the factors that will be used to calculate formula funding • Unreconciled bank items from previous years

  11. Best Practice & Guidance • Password security – ICO Survey • Benchmarking – The data for financial year 2011-12 is now available on the DfE website • Benchmarking website, https://www.education.gov.uk/sfb/ • Next FABGs meeting is Monday 18 March at LLRC

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