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Ocker Hill Infant School

Gospel Oak Road, Tipton, West Midlands, DY4 0DS



The Finance Committee are responsible for:

  • Produce and approve the annual budget and present it to the full Governing Body for information
  • Review the actual expenditure and monitoring statements at least once a term
  • Receive and Review the financial projections
  • Approve expenditure and virements of sums over £5000, sums below that amount are delegated to the Head Teacher
  • Conform to the Schools Financial Value Standard
  • Assess the financial progress towards achieving the objectives in the School Improvement Plan
  • Review of leases and contracts - including traded services
  • Ensure Best Value principles apply to services purchased with delegated monies
  • Review the financial implications on the budget of the Pay and Conditions document
  • Receive Section 251 Statement
  • Receive the annual accounts and certificate of audit of the School Fund Account and other voluntary funds held within the school
  • Assess the schools insurance cover to ensure that it provides adequate protection against risks
  • Review and approve the petty cash to be held by the school
  • Ensure LA standing orders are complied with
  • Obtain quotations with a view to placing contracts/orders , once the relevant Committee has drawn up a specification
  • Identify priority areas in April in anticipation of any under spend
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