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Education Finance

Introduction

This team is responsible for providing accountancy services to the Education Department and to Schools. The team is extensively involved in the implementation of the Audit Commission's "Consistent Financial Reporting" regime and the new schools financial information system (FMS6).

Services to the Children, Education and Families Directorate

Main Functions:

1. Monitor and assist in the preparation of revenue and capital estimates.
2. Maintain integrity of Corporate Finance Systems, including feeder systems.
3. Support to individual central budget holders through monitoring meetings, training and advice.
4. Maximise income receivable e.g. government grants.
5. Provide financial management reports at a level appropriate to the audience.
6. Manage closure of accounts for the Directorate.
7. Assist and prepare Audit protocols on a number of grant funded areas.
8. Provide training on the budget, monitoring and closing process.

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Services To Schools

Main Functions:

1. Provide and review the Thurrock scheme for financing schools.
2. Manage closure of accounts for schools in accordance with the DfE Consistent Financial Reporting (CFR) framework and LA closure deadline for schools.
3. Monitor school budgets and where necessary challenge in accordance with Thurrock LA/Schools code of practice.
4. Support schools in the preparation of budget recovery plans and ensure their delivery.
5. Maintain, consult on, apply and advise on Funding Formula for schools.
6. Provide a programme of training for governors and school staff.
7. Provide Buy Back Support Service to schools (Service Level Agreement).

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Schools Forum

The Thurrock Schools Forum is a statutory body, regulated under the provisions of the Schools Forum Regulations which come into force on the 1st April 2010.

Membership of the Forum broadly represents the Schools population, with members being drawn from Head Teachers, Governors, Church Diocese, Early Years and the 14-19 Education sectors.

The primary role of the Schools Forum is to be the main consultative group for distribution of Schools Funding, including allocation of Specific grants and any changes to the Thurrock Scheme for Financing Schools.

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Publications

The following publications are PDF documents - for more information see 'how to access PDF files'.

• Thurrock Scheme for Financing Schools, April 2012 (PDF 148kB)

Resource Allocation Formula

This document sets out a description of the formulae operating to objectively allocate resources to all schools maintained by Thurrock Council.

• 2011/2012 Resource Allocation Formula (PDF 104.3kB)

Education Budget Statement

Every year Thurrock Council is required to publish a budget statement displaying the total amount available to spend on Education Services for the financial year 1st April to 31st March. This statement covers planned expenditure within the Education Department and delegation of resources to individual schools. For comparative purposes, previous years' budget statements have been included.

• 2011/2012 Education Budget Statement (PDF 101kB)
• 2010/2011 Education Budget Statement (PDF 687.2kB)
• 2009/2010 Education Budget Statement (PDF 137.9kB)
• 2008/2009 Education Budget Statement (PDF 173kB)
• 2007/2008 Education Budget Statement (PDF 167.3kB)
• 2006/2007 Education Budget Statement (PDF 158.4kB)

Education Outturn Statement

After the end of each financial year (31st March) Thurrock Council is required to produce a statement showing details of the total spend for Education purposes during the year. For comparative purposes, previous years' outturn statements are included.

• 2009/2010 Outturn Statement (PDF 635.6kB)
• 2008/2009 Outturn Statement (PDF 60.4kB)
• 2007/2008 Outturn Statement (PDF 301.9kB)
• 2006/2007 Outturn Statement (PDF 302kB)

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Associated Sites

• Department for Education

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