Traded Service 

Purpose of the service

The SFS team provide a comprehensive range of financial services for school managers and administrators to support them in the delivery of School Development Plans. The team is an accredited provider of SIMS support services to schools.

Services provided on a traded basis 2017/18

  • Five levels of support to schools. Each level includes the use of a Helpline service and a direct line of contact to designated School Finance Officers.
  • Development and provision of finance training courses.
  • Bursarial service for schools facing temporary absence of financial administrator.
  • Ad hoc financial support and services.

Service Level Agreements 2017/18 

  • Level One - allows for 3 visits of up to 3 hours duration (ie termly visits).  2017/18 Cost is £2,944 per annum
  • Level Two - allows for 3 visits of up to 6 hours duration (ie termly visits). 2017/18 Cost is £3,313 per annum
  • Level Three - allows for 6 visits of up to 3 hours duration (ie half termly visits). 2017/18 Cost is £3,451 per annum
  • Level Four - allows for 6 visits of up to 6 hours duration (ie half termly visits). 2017/18 Cost is £4,271 per annum
  • Level Five - allows for 11 visits of up to 6 hours duration (ie monthly visits). 2017/18 Cost is £5,871 per annum

Training Information

The SFS team have a program of finance training courses and can prepare and deliver bespoke training to suit individual school requirements. 

Bursural Support & Ad hoc financial services

For more information, please contact us using the details on the left of this page.

Performance Standards

Details of the SFS team Performance Standards are available on the Service Standards page.

Issues to be aware of

Schools must fully comply with Financial Regulations, Standing Orders and Local Management of Schools scheme. Details can be obtained from Audit Dept, Bath & North East Somerset.

Terms and Conditions

Criteria for refunding Finance SLA due to conversion to Academy School 

Please see below, the methodology for purchasing 2017/18 Finance SLAs for schools who are considering converting to Academy status during 2017/18. 

Finance support continues post conversion as the school’s 2017/18 accounts will need to be finalised. This will require at least one visit to carry out a set of checks similar to a preliminary closedown so that reports can be sent to the LA in order to determine the cash balances payable to the school. The LA have 3 months to reach a determination of balances and if there are any issues or discrepancies within this period, further visits may be required to deal with these and/or further helpline support required by the converting school.  

Schools planning to convert on or after 1st April 2017 should continue to purchase a full year Finance SLA for 2017/18 from the Hub. Please note that conversion date is often delayed for various reasons and your school may require finance support as a LA school,  for a longer period than anticipated.  

A refund for unused support will be calculated as follows:- 

Converting 1st April 2017 – the SFST will retain 3/12 of the purchased SLA up to 30th June. This will entitle the school to 3/12 of the School visit hours under the SLA purchased. If more than 3/12 of the visit hours have been taken by the school during this period, these hours will be deducted from the refund at the normal SLA rate of £51 per hour.

An example with a full year SLA 3 @ £3451 entitlement 18 hours SFO support

Pro rata hours entitlement (3/12) = 4.5 hours

Actual hours of support taken = 10 hours

Hours deductible from refund  = 5.5 @ £53 per hour = £291.50

Refund calculation:- 

9/12 SLA 3                £2588.25

Less 5.5 hours          £  291.50

Refund                      £2296.75

The pro-rata calculation for schools converting from 1st May onwards is as follows:-

 

1st May 2017        4/12 retained             8/12 refunded (less any deductible hours) 

1st June 2017       5/12 retained             7/12 refunded (less any deductible hours) 

1stJuly 2017         6/12 retained             6/12 refunded (less any deductible hours) 

1st Aug 2017        7/12 retained             5/12 refunded (less any deductible hours) 

1st Sept 2017       8/12 retained             4/12 refunded (less any deductible hours)     

1st Oct 2017         9/12 retained             3/12 refunded (less any deductible hours) 

1st Nov 2017      10/12 retained             2/12 refunded (less any deductible hours)  

1st Dec 2017      11/12 retained             1/12 refunded (less any deductible hours)   

1st Jan 2018       12/12 retained            charge made for any deductible hours   

1st Feb 2018       12/12 retained            charge made for any deductible hours

1st Mar 2018       12/12 retained            charge made for any deductible hours

Service Level Agreements are reviewed on an annual basis.  These can be viewed on SLAs 2017-18.

Schools will be charged annually after purchasing from the Hub, Bath & North East Somerset's resource purchasing tool.

Finally comments

The SFS team constantly aims to develop the quality and range of service provision offered to schools. Please contact the SFS Manager with any queries, concerns or suggestions that may add to this objective.

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