Department For Education
Details
Local-authority-maintained schools must submit the schools financial value standard (SFVS) to their local authority annually.
Local authorities use this information to inform their programme of financial assessment and audit. They submit an assurance statement every year to cover all the maintained schools in their area.
For the financial year 2022 to 2023:
- schools should submit their SFVS to their local authority no later than 31 March 2023
- local authorities should submit their assurance statement to DfE within 6 weeks, no later than 31 May 2023
Schools financial value standard checklist and guidance
The document Schools financial value standard checklist is for schools. It asks questions of governing bodies in 6 areas of resource management. It includes links to relevant sections of the document Checklist guidance, which provides:
- clarification for each question
- examples of good practice
- details of further support available to assist schools in addressing specific issues
The SFVS checklist guidance and additional resource documents are appropriate for the 2022 to 2023 reporting year.
Self-assessment dashboard
Our self-assessment dashboard helps schools complete their checklists. To find your self-assessment dashboard:
- Search for your school on the schools financial benchmarking website.
- Select start a comparison.
- Select self-assessment dashboard.
Guidance on completing the self-assessment dashboard is available.
The dashboard provides red, amber or green (RAG) ratings against a schools data. This indicates how its spending and characteristics compare with those of similar schools or nationally recognised bindings, and includes possible follow-up actions.
The dashboard wa