Monthly Management Reporting (SLA)

Available for maintained schools and academies

At SMS we pride ourselves on being able to provide detailed, accurate management information tailored to the needs of the school, and presented in a variety of formats depending on the audience.

The key components of our financial reporting are as follows

• Data is exported from the school accounting system to produce the report, and reconciles back to the system. SLT and governors can be sure the reports are accurate

• The report will show the current financial position of the school, along with a forecast year-end position based on commitment accounting

• Production of a Cash flow forecast

• A written report summarises the financial information and offers recommendations for further analysis or action by the school

The report will cover the following areas

• Income – reviewing unplanned income and income shortfalls

• Bank – current bank position and cash forecast

• Staffing – commentary on staffing projections/highlighting areas of concern

• Non- staffing budgets – highlighting areas of concern

• Asset Management – update on asset purchases/depreciation

• Virements – report on any virements required

A monthly audit of finance systems is undertaken as standard during support visits. Monthly visits can be used to support the school in a variety of other tasks as required, e.g. completion of statutory returns (LA/EFA/DfE), bank and payroll reconciliations, VAT reimbursements.

Schools can choose either a 10 or 12 visit SLA. Maintained schools would usually choose 10 visits, as they are less likely to require a visit in August or December. Academies usually need support in August and possibly an additional visit during the annual audit.

The 10 visit SLA includes 7 hours of Director review time, the 12 visit SLA includes 14 hours. Both SLAs include the Helpdesk service.