Schools Financial Value Statement
The Schools Financial Value Standard (SFVS), the successor to the Financial Management in Schools (FMSiS), was launched on 18 July 2011, and will be available to schools from September 2011. Maintained schools that had not attained FMSiS by 31 March 2010 will be required to submit SFVS to their local authority by 31 March 2012, and annually thereafter. Other maintained schools will be required to make a submission by 31st March 2013 and annually thereafter. Governors will be held primarily responsible for compliance but should fully involve the school’s leadership team members in the process. This module is designed to help you understand what will be required of you with minimal administrative burden.
- This module will enable you to:
- understand the key requirements of SFVS
- examine pertinent support documents within the standard and be aware of how to access other support guidance documents
- explore ways of completing this important self-assessment effectively and efficiently
- empower you to take control and own the process whilst minimising the associated workload
You should allow about an hour to work through this module and a further fifteen minutes to complete the Learning Review. You may also use it as a reference when completing your SFVS. The module is set out so that you can quickly link to any guidance relevant to any question in the SFVS form.
