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The Grove Infant and Nursery School

Achieving our potential in our creative learning community

Financial Information

It is important that the school is open and transparent about financial information, and so every year Governors write a short summary for the website that informs parents and other interested parties about the income and expenditure of the previous financial year.

If you have any questions about this information, please feel free to contact the school office. 

Financial Report 2016 - 2017

Grove Infant and Nursery School – Financial Report 2015-16

Financial Management in School

Schools are responsible for the management of public money each year. Formal responsibility for this rests with the governing body who set the budget and monitor income and expenditure throughout the financial year. Schools are expected to take a strategic approach to their finances with the budget reflecting the school’s priorities for development and improvement and to plan for the medium-term. At the Grove Infant and Nursery School, the budget is prepared in draft by the headteacher, reviewed in detail by the Resources Committee and approved by the full governing body. It includes a three year projection. Prior to setting the budget, benchmarking exercises are undertaken to inform the process. In addition the school maintains an asset management plan.

Daily financial decisions are made by school staff, primarily the headteacher, in accordance with a Schedule of Financial Delegation which is reviewed annually by governors.

As a maintained school, we are also obliged to submit an annual return known as the SFVS (Schools Financial Values Standard) in April each year. The standard is designed to ensure that schools manage their finances well to achieve value for money; that those responsible for school finances have the necessary skills to manage them effectively and that appropriate financial controls are in place.  The school submitted its SFVS return in April following its preparation by the Resources Committee and its approval by the full governing body.

Financial report 2015-16

A summary of the School’s income and expenditure for the financial year 2015-16 is set out below.

Teaching staff


Educational Support Staff


Other Staff costs


Premises and occupation costs


Learning resources


Professional Services















The School’s income is primarily comprised of funds delegated by the Local Authority. It also includes other government grants (including Pupil Premium, Sports Premium and Universal Infant Free School Meals funding) plus money raised by the school from hiring out its facilities and those funds raised for the School by PTA activities.

The majority of the school’s expenditure is spent on staffing (75%). The capital expenditure was for new interactive whiteboards.

The School’s finances were in surplus at the end of the financial year with educational standards remaining high.

There are currently considerable pressures on school budgets including the impact of the Local Government Pay Offer (a consequence of the introduction of the National Living Wage) and increased National Insurance and teachers’ pension costs. In addition, there is some uncertainty about the level of future funding as a new National Funding Formula is expected to be introduced. The School’s budget projections take these factors into account and the existence of a healthy reserve will assist the School to maintain a balanced budget.