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Finance & resources

Financial oversight in maintained schools

Learn how governing bodies ensure compliance, value for money and financial efficiency.


Governing boards are responsible for overseeing the financial performance of their school and making sure its money is well spent – this is one of the core functions of governing boards.

This means ensuring:

  • compliance with the rules (including legislation and controls put in place by the local authority and Department for Education)
  • value for money
  • money is spent in line with the school’s strategic priorities
  • leaders are held to account

This page covers:

  • delegating financial oversight functions
  • approving the school’s budget
  • monitoring the budget
  • ensuring financial efficiency

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