Capital finance

The Capital Finance team is responsible for:

• the production of the integrated plan (budgets)

• the production of corporate budget monitoring reports that are viewed by senior officers and cabinet.

• the production of the statement of accounts, which includes capital spend for foundation, voluntary controlled and community schools

• the submission of annual grant returns for school capital grants

• ensuring that the financial regulations of the council are followed

• working with school planning and property colleagues to forecast, monitor and report spend on large capital projects (for example, the provision of new schools in the county)

School capital returns:

We require schools to complete and submit the capital return to be completed by schools twice a year in order that the school spend is accurately reflected in HCC’s accounts. The submission dates are as follows:

Interim capital return: end of November
Final capital return: around the end of March (the deadline is dependent on the end of the Easter term)

It is essential that only spend of capital nature is reported as capital within the accounts. The capital team respond to queries throughout the year, confirming the correct accounting of spend (i.e. confirming if the spend is Capital in nature). They also process capital reimbursements relating to school expansion schemes.