School Finance for Finance Officers & Assistants

 

The School Finance course is designed to provide staff involved with finance in schools a comprehensive understanding of the finance department, its functions, and key processes. Participants will learn the principles of school finance, the regulations required to ensure compliance, and how to interpret and manage financial reports effectively.

 

This course is suitable for finance staff at all levels, whether new to school finance, experienced staff looking for a refresher, or school governors seeking a better understanding of financial management in schools.

Finance staff carry important responsibilities and strict deadlines, and they must operate within specific financial regulations to ensure accountability and transparency. Staff who have experience in finance outside of schools—or who have never received formal training in school finance—will benefit from practical guidance on school-specific processes, compliance requirements, and audit procedures. This course helps staff gain confidence, improve efficiency, and maintain accuracy while supporting their school’s financial operations.

The School Finance Bitesize course consists of 10 x 20-minute sessions, followed by a short assignment to consolidate learning. The course takes participants from beginner to being competent in school finance, covering funding, financial processes, reporting, and compliance.

 

Each session includes downloadable notes, a video presentation, and a practical assignment, giving participants the confidence and skills to apply finance knowledge in a school environment.

Session 1 – School Funding and Accounting
•    How schools are funded
•    Understanding what schools spend their funding on
•    Overview of the accounting process in schools
 

Session 2 – Double Entry Bookkeeping
•    Introduction to double-entry bookkeeping
•    Recording transactions accurately
 

Session 3 – Appropriate Use of Funds and Value for Money
•    Ensuring compliance in spending
•    Maximising value for school resources
 

Session 4 – Separation of Duties and Authorisation
•    Understanding the importance of internal controls
•    Authorisation processes to prevent errors and fraud
 

Session 5 – Record Keeping and External Audit
•    Traceability of records
•    Preparing for and understanding external audit requirements
 

Session 6 – Capital Items and Fixed Assets
•    Identifying capital items and fixed assets
•    Treatment, depreciation, and reporting
 

Session 7 – Financial Reports
•    Understanding and producing key reports: Income Statement, Balance Sheet, Cash Flow Statements
 

Session 8 – Management Reports and Budgets
•    Interpreting budgets
•    Using management reports to inform decisions
 

Session 9 – Period End Procedures
•    Completing month-end or year-end processes
•    Reconciling accounts and ensuring accuracy
 

Session 10 – Housekeeping and Internal Audit
•    Maintaining financial records and processes
•    Preparing for internal audit reviews
 

Outcomes - By the end of the course, participants will understand how schools are funded and how funds are allocated; apply double-entry bookkeeping principles accurately; comply with financial regulations and internal control procedures; produce, interpret, and use financial and management reports; complete period-end processes and maintain accurate financial records; prepare for internal and external audits with confidence.

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