Schools Financial Value Standard (SFVS)

All maintained school Governing Boards are required to have approved and submitted the SFVS School Financial Services by the 31st March 2017.

The SFVS, a financial audit tool consisting of 25 questions, has to be an agenda item within the full governing board meeting where it needs to be formally approved. The Chair signs the document including the date that it was approved by the Board. The drafting of the document can be performed by the finance governor lead/ finance committee before being submitted to the Board. When a school has a compliance visit the governing board minutes may be scrutinised for approval of the SFVS. If you have not completed the SFVS please click here for a copy of the assessment form and support notes.