Schools Financial Value Standard (SFVS)

Governing boards of schools have formal responsibility for the financial management of their schools. Maintained schools are required to submit an annual School Financial Values Standard (SFVS) self-assessment to the Local Authority to provide assurance that secure financial management is in place. 

School self-assessment

Governors of all maintained schools (inc nursery schools and PRUs with delegated budgets) must show compliance with the School Financial Value Standard (SFVS) by completing a SFVS self-assessment form.

SFVS self-assessments must:

  • demonstrate compliance against the SFVS
  • include a summary of remedial actions with specified deadlines and agreed owners, to be monitored by the Governors 
  • be signed by the Chair of Governors and
  • be submitted to the LA in March each year. Deadline 29 March 2019

To make the most of the self-assessment process governing boards are encouraged keep the SFVS as a 'live' document and to gather supporting evidence throughout the year. 

Information for academies

The DfE are trialing the data-based tool in a version for academies, which can be found at School resource management self-assessment tool.

Downloads

SFVS Assessment Form

Seld Assessment form to be completed by the governing boards of maintained schools

Download

SFVS Support notes 2018-19

Guidance and examples of good practice for schools.

Download

SFVS Additional resources 2018-19

Additional resource from the DfE to help maintained schools review the roles, and competencies, of governors and school staff.

Download
Last update: Tuesday 12th of March 2019 02:07:35 PM