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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. 

Grove Infant and Nursery School – Financial Report 2018-2019

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 2018- 2019

A summary of the School’s income and expenditure for the financial year 2017-18 is set out below.

Teaching staff


Educational Support Staff


Other Staff costs


Premises and occupation costs


Learning resources


Professional Services












Revenue brought forward March 2018      £128,233.00


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 (78%).

The School’s finances remain in surplus at the end of the financial year despite the in-year deficit with educational standards remaining high.

There are currently considerable pressures on school budgets and, whilst governors plan for the future based on information currently available, there are often items that crop up during the year that cannot be planned for and it is therefore prudent to maintain a reserve to cover the unknown. It is always our intention to maintain a balanced budget and to maintain the high level of education provided to pupils while they attend our school.