![]() #See finance user manual manualThe manual is produced by North Yorkshire County Council for its schools. The School Finance Manual contains both of the above documents as well as giving more detailed information in relation to particular areas such as budgets and forecasting, banking arrangements, VAT and charging for school activities. They should not be viewed as a barrier to executive action and are constantly kept under review to ensure that they remain relevant to the day to day activities of schools. ![]() This, then, ensures a high quality of financial information thereby enabling better decision making. They aim to facilitate service delivery by setting out best practice for the administration of all financial matters within schools. The LMS Procedure Rules form a part of this overall control framework. The North Yorkshire Scheme can be found in Chapter 2 of the School Finance Manual. The Scheme is updated to reflect Governmental advice. Within it are requirements relating to financial management and associated issues which are binding to both the Local Authority and the schools. It sets out the financial relationship between the Local Authority and the maintained schools it funds. The LMS Scheme is the funding framework for schools. The School Standards and Framework Act 1998 (Section 48) requires the financial controls within which delegation works to be set out in an LMS Scheme for the financing of schools prepared by the Local Authority and approved by the Secretary of State for Education. ![]() The School Finance Manual is a comprehensive reference guide to the financial procedures for schools in North Yorkshire. ![]()
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