Financial Information
Financial management at Miles Coverdale is closely monitored by the Resources Committee made up of members of the Governing Body. The Committee provides regular reports to the Full Governing Body. Both the committee and the governing body challenge the school to make sure our spend is appropriate and that we are achieving value for money. The school business manager provides regular updates and reports to the committee, including budget monitoring reports, annual benchmarking and annual SFVS (schools financial value standard) to help them with this task and, on an annual basis, carries out a benchmarking exercise followed by a report, to show how our spend compares to other schools both locally and nationally.
Benchmarking
Benchmarking helps schools to see how they are performing financially and gives opportunities for schools to find other ways of doing things. You can access our financial benchmarking data from the Government website at https://schools-financial-benchmarking.service.gov.uk/school/detail?urn=100326&openOnly=true - The school business manager carries out annual benchmarking against national schools as well as benchmarking our own internal financial performance year on year. These are shared with governors.
Staff salaries
In accordance with DfE requirements the school has to publish the number of employees that earn £100,000 or more in increments of £10,000. Currently no staff earn over £100,000.