FBM5002 - School Financial Management and Accounting

Objectives:

On successful completion of the module, students will be able to:

1) Assemble summary budget information for internal and external stakeholders
2) Formulate and construct bids for grants and other external funding.
3) Specify and explain systems for the oversight, control and management of school revenue spending including; departmental capitation, repairs and maintenance, utility and cleaning services, peripatetic services
4)Analyse funding and spending outcomes for capital projects, including final reporting
5) Propose medium term financial strategies and projections to meet the requirements for ‘Best Value’ and the relevant Financial Management Standards

Content:

Preparation of external facing budget summaries. Use of appropriate budget software. Compliance, audit and FMSiS requirements. Construction and development of capital and revenue bids to external parties, including base line costing, live cost estimates and retention/outrun provisions. Financial and legal reporting requirements. The financial strategic planning review, introduction to strategic planning and oversight, including management of devolved budgets and SIMS user accounts. The FMSiS framework and ‘Secure Funding Standards’. Formula funding for schools. Calculation of financial outruns as part of the planning process. Base line VAT calculations and Gift Aid.

Learning and Teaching Information:

The module will be delivered via a series of weekly whole group interactive lectures, with workshop and seminar sessions as required. Questions/exercises will be set at each appropriate lecture meeting for students to complete or prepare before associated seminars. Students will be provided with and/or directed to, relevant reading and additional work related research tasks to support their progress through the module material. Each student will also be entitled to a one hour tutorial session, with the module coordinator, to discuss progress through the module, specific learning and development needs and the module assessment.

Lecture/workshop/seminar/action learning sessions
Contact hours: 24
Intended Group size: 20 students

Individual tutorial
Contact hours: 1

Assessment: