Monitoring Income and Expenditure
Throughout the year, the school’s management team and its Governing Body will require up-to-date financial data to assist in the decision making process. SAFS will visit the school once, twice or three times each term (depending on which level of subscription is taken) to check the levels of income and expenditure, using data taken from the school’s accounting system and will compare this with the school’s budget plan. Note will be taken of significant variances and a report will be prepared for discussion with the Head, the school’s finance officer and, where required, the Governors, to inform the decision making process and to ensure the continuing financial well-being of the school. Cash flow statements will also be prepared, if required and updated at each visit.