The DOWMAT finance team provides professional support to school business managers, headteachers and administration staff which will enable them to plan and manage their budgets effectively and to ensure compliance with good financial practice. The team works with each academy to achieve effective financial management and assurance in governance, leadership and management.
DOWMAT academies will receive:
- Strategic finance support from a central finance function
- Support for all financial, back office and business functions
- Provision of financial handbook, policy setting and liaison with the ESFA
- Bespoke financial package
- Annual finance software licence for the first year
- Training and support for all academy Business managers
- Advice with regard to budget setting
- Support for 1 – 3 year budget preparation and management
- Budget monitoring / bi-annual budget meetings with the Headteacher and DoWMAT Finance Director
- Procurement, best value and contract negotiation
- Support with applications for additional grants and funding opportunities
- Support with the management of all month end procedures and submissions e.g. VAT returns
- Support with the preparation of monthly management accounts
- Support with the administration of the Teachers’ Pension Scheme and Local Government Pension Scheme including annual certificates and audit administration
- Preparation and audit of annual accounts
- Regularity audit
- Preparation and submission of the SORP - charity accounts
- Completion and submission of all reports required by DfE and EFA
- Ensure compliance to the academies handbook and accounts direction
- School business management forum
Our experienced, highly-qualified central finance team are available to support schools over the phone or via email, and through on-site visits or over Zoom.
Whole-trust meetings for School Business Managers are held regularly, and are a valuable way for SBMs to meet and develop collaborative links with peers from across our DoWMAT academies, gain the latest updates and share information and best practice.