April 2021
Dear Colleagues,
Thank you for submitting year-end returns and hitting the tight deadlines, your cooperation is greatly appreciated. This month's bulletin includes updates and more information for budgeting.
Year End - Processes to follow for Schools completing Early Year End Closedowns
Finance staff in schools that closed before 1st April need to carry out the following procedures before any transactions are made on FMS in the new financial year (if you haven't already done so).
- Check I&E report for any changes (this should not have altered)
- Print VAT submittal for Q4 2020-21
- Carry out Preliminary Close for 2020-21 on FMS
The next bank reconciliation beyond your early closing date can now be completed after the preliminary close, in the new year (2021-22). This should be done on a new system bank reconciliation to 31 March 2021 in the first instance followed by subsequent months.
Signed Reports
If your Headteacher was not available to sign reports when you closed the school accounts, please send signed versions of the following to schoolfinancereturns@hillingdon.gov.uk
- Year End Statement
- VAT Submittal Report
- Bank Statement
- System Bank Reconciliation
- Unreconciled Items listing
Early Close 2020-21 - Bank Reconciliation to 31 March 2021
Schools who closed early this year please be reminded to complete your Bank Reconciliation to 31 March 2021 in the new financial year 2021-22 and submit the bank reconciliation reports at your earliest convenience for our records enabling the auditors to verify what transactions have passed during this time. Further guidance can be found on the 2020-21 Year End Guidance page 19.
SFVS Return 2020-21
The SFVS return is required for submission to the LA by 28 May 2021. Link to DfE checklist and dashboard guidance:
www.gov.uk/government/publications/schools-financial-value-standard-sfvs
CFR Coding List / FMS Spring Upgrade
The latest CFR coding list is attached to this e-mail. There are four new CFR income sub codes under I18; I18a, I18b, I18c and I18d which is part of the FMS spring upgrade.
Returns Timetable 2021-22
The Returns Timetable for financial year 2021-22 is attached to this e-mail. Please make a note of these dates to ensure returns are submitted on time.
COVID-19 Updates
Coronavirus (COVID-19) Free School Meal Additional Costs
The ESFA has announced that the coronavirus (COVID-19) free school meals additional costs online form for schools and colleges is now live and can be found here:
form.education.gov.uk/service/fsm-claim
Schools can claim eligible costs related to free school meals and free meal additional costs during the period 4 January up to the start of the Easter holidays (as applicable). The deadline to submit your claim is 23:59 on 4 May 2021.
The following guidance has been published to schools to complete the form:
www.gov.uk/government/publications/coronavirus-covid-19-free-school-meals-additional-costs
Any queries on this process should be directed to the ESFA on the following link;
Coronavirus (COVID-19) Mass Testing Funding (Secondary schools only)
Testing carried out from 4 January to 5 March 2021 - The ESFA will shortly be publishing the funding allocations for coronavirus (COVID-19) testing carried out in schools and colleges from 4 January to 5 March 2021.
Payment for this funding will be made to local authorities at the end of April 2021 to pass onto maintained schools. Payment will be made directly to academies at the beginning of May 2021.
Testing carried out after 5 March 2021 - For testing carried out after 5 March 2021 and up to 2 April 2021 payments should be made to local authorities at the end of May 2021 to pass onto maintained schools and directly to academies at the beginning of June 2021. The payment dates for any testing carried out during the summer term will be confirmed in due course.
Following the publication of the initial allocations, an online claims process will be launched. The claims process will cover exceptional costs incurred in the preparations for full testing ahead of the announcement on 4 January 2021 that schools and colleges would be closed to all but vulnerable children and the children of critical workers.
Exceptional claims relating to temporary premises costs will also be able to be submitted.
Any queries on this process should be directed to the ESFA on the following link;
Closedown of Private Funds
Guidance and a year-end statement to help with the closedown of private funds is attached below.
BUDGET PLANNING
COVID-19 Catch-up funding
The third tranche COVID-19 Catch up grant funding Summer 2021 term - a further £33.33 per pupil or £100 per place. An additional income budget entry can be made for this grant against the Cash Advance Expected cost centre using ledger code A914.
PE and Sports Grant
There has been no further update on the PE and Sports Grant from September 2021 onwards from the DfE. Our general advice is that you budget until August 2021 only.
Budgeting for Accruals and Outstanding Purchase Orders
Accruals
Schools need to remember to budget where accruals have been made for Prepayment and Income in Advance because these amounts will be included in the new financial year's accounts. Expenditure and Income accruals do not have to be budgeted as they net-off in the new financial year.
Where income accruals have been made in connection with cash advance funding, adjustments will need to be made on FMS. Please contact your link Finance Officer to discuss after your budgets have been imported into FMS.
Outstanding Purchase Orders
Please remember that budgets are sufficient to cover outstanding Purchase Orders.
Cash Advance Funding
Initial Cash Advance Funding
On SBS the Cash Advance Tag should be used on the following funding instead of a cost centre, so do not select a cost centre for these:
- Delegated Funding (already set up by SBS so no action required)
- Growth Contingency Funding
- Pupil Premium
- Pupil Premium Service Children
- Pupil Premium Post LAC
- PE and Sports Grant
- Sixth Form Funding
- EYSFF Universal Hours
- EYSFF Additional Hours
- High Needs Top Up
- High Needs Planned Place
- UIFSM
- 16-19 Bursary Funding
These amounts should agree with the cash advance statement.
Expected Changes to Cash Advance
The following is not included on the April Cash Advance therefore does not need to be linked to the Cash Advance Tag. Instead, link to a Cash Advance Expected cost centre. If your FMS does not have this cost centre, please contact your link office to set up.
- COVID-19 Catch up Grant - ledger code A914
- Devolved Formula Capital - ledger code CP90
- Any Adjustments expected to original cash advance funding
Budget Report for Submission to LA
A CFR summary report is required for submission to the LA by 31 May 2021. This is generated within SBS as follows:
- Reporting
- CFR Summary Report
- Export to PDF
This requires approval by the Full Governing Body and be signed and dated by both the Chair of Governors and Headteacher.
Input Completed Budget Plan to FMS
Fund Allocation
Select:
- Reporting
- CFR Summary
- Click Analysis Tag drop down
- Choose Cash Advance Funding
- Enter Year 1 (2021-22) values into Fund Allocation on FMS
Cost Centre Allocations
Select:
- Reporting
- Cost Centre Reports
- Cost Centre Report
- Select 1 Year in black header bar
- Export to xls
This will generate a report showing individual ledger codes in cost centre order. Ignore the Brought Forward figures. Values can be entered on to Cost Centre Allocations on FMS.
For the Unallocated Funding cost centre, please use the Revenue Balance for Year 1 on the CFR summary report.
SBS Helpline and email
SBS provides a helpline to schools for technical questions:
Telephone: 0345 222 1551 option 8
Email: sbsonline@schoolbusinessservices.co.uk
Please continue to contact your link officer for finance queries.
Kind Regards
Schools Finance Team
Attachments
CFR Coding Overview and Listing 2021-22 [65KB]
Coding List 2021-22 Ledger Codes-CFR [45KB]
Example Cost Centre-Ledger Code-CFR Code Structure 2021-2022 [53KB]
Private Funds Year End Guidance 2020-21 [905KB]
