Form for Governors Fund Return
Governors' funds in a VA school are the responsibility of the Governing Body.
Diocesan auditors have noted that schools are separate charities and thus funds should be separate, in particular the Diocese does not control Governors' funds.
Whilst historically the Diocese has asked Governors to make an annual return on the state of their funds, as from 2018 that is no longer required.
Governors should note, however, that in line with their duties as a public body, they should arrange an annual independent examination of all their non-LA funds, including Governors' funds, and the examiner's report should be presented formally to a meeting of the Full Governing Body once complete.
Governors should consider aligning the reporting period of their fund with the Financial Year, rather than the school year, since capital funding from the ESFA (which should go into this account) must be accounted for in the year ending 31 March.