Coronavirus (COVID-19) – Finance Advice

Additional funding available for exceptional costs

DfE have set aside funding to cover exceptional costs incurred due to Coronavirus that you cannot cover from your existing budget without affecting your financial stability.

Increased fraud risk

The government has warned that fraudsters will actively exploit these difficult times and may consider schools to be a vulnerable area to target for financial gain.

Please make sure you follow the internal controls procedures when making payments; check the payee details and address for cheque payments, and for BACS that the supplier’s bank details haven’t changed from those recorded on your system. Also, be extra vigilant with emails; do not open any emails or attachments if you are not certain of their origin as they may contain a virus.

Paying your suppliers whilst you are not fully open

Schools and academies must comply with the government’s instructions under PPN 02/20 by continuing to pay contracted suppliers, in accordance with your original budget as you are holding government funds. But there are certain criteria and it is the supplier’s responsibility to ensure they do not also furlough their staff.

Furlough staff – how to work out the maximum you can claim

You can only furlough staff whose salaries are dependent on private income streams, such as paid school meals / breakfast or after school club fees / state boarding school fees /lettings income; but only after budget savings and other specific funding have been taken into consideration.

The amount you can claim under CJRS is directly related to the proportion that your private income represents of your total income.