School Funds, sometimes referred to as private or unofficial school funds, are funds separate to those provided by the Local Authority and exist for the benefit of the children of a school. They are established under the authority of the Governors of the school and include monies collected from students or pupils for activities arranged by the school.
Our School Funds Guidance document has been developed to assist those responsible for the administration, control, and governance of voluntary school funds. It will help ensure that all voluntary funds are established and operated in accordance with all relevant statutory requirements and comply with our Scheme for Financing Schools.
The guidance is also designed to provide schools with a robust framework in which to operate their school funds so as to safeguard the monies raised and to protect the staff involved.
Parent Teacher Association (PTA) or ‘Friends of’ funds are not classed as unofficial funds for the purposes of these guidance.
School Funds guidance (PDF, 923KB)
School fund management should be an agenda item on Governing body Finance Committees; and within this process there is a requirement for all schools to initiate an audit of their school funds at the end of each financial year.
Schools will also need to provide their school fund auditor with a copy of this guidance prior to the audit. The resultant audit certificate is required to be sent to us at firstname.lastname@example.org