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Herts County Council logoSchools Financial Value Standard (SFVS) Guidance

The SFVS applies to all Local Authority maintained schools, nurseries and pupil referral units. It does not apply to academies.  It replaces the Financial Management Standard in Schools (FMSiS) which was withdrawn by the Secretary of State with effect from 15 November 2010.

The SFVS is a self-assessment undertaken by maintained schools to evidence the effective financial management of their resources. It is a mandatory requirement that all LA maintained schools complete and submit an SFVS on an annual basis. The document comprises of a series of questions that must be answered by the school, discussed at a governors’ meeting(s) and signed by the Chair of Governors.

  • In Hertfordshire the document should be completed in excel and is accessed below.
  • The completed return should be printed and a paper copy, signed by the Chair of Governors, kept by the school.

SFVS Return for 31 March 2018

An electronic version should be returned to SIAS by 13 April 2018 and emailed to:

If the email automated button does not work on the Microsoft Excel SFVS Return form, please attach the completed SFVS form directly to:




SFVS Timetable 2018

This is suggested timetable to ensure completion of the SFVS by 13 April 2018

SFVS in numbers to share with schools


SFVS Return Form New

Please download this excel file. It should be completed and submitted electronically.

Once the form has been submitted a copy should be printed and signed by the Chair of Governors and this retained in school.

DFE Guidance Changes

Please use the web links in the guidance to access more information at present.

Please save this file to your computer.

Do a right hand mouse click on the above file and choose Save Target As...

(You will have to click to enable macros to complete the form.)

If you have any queries relating to SFVS, please call Darren Williams on: 01438 844341

If there are any technical issues in filling out this excel spreadsheet, please call Tina Parhar on: 01438 843 593

SFVS points to note 2015/16

These are the key points for Governors to consider for 2015/16

A guide to the required documents

This is a list of the documents that the Auditors use to assess the robustness of the SFVS controls

SFVS points from the 2015/16 audits

These are the findings from the audits undertaken in the Summer Term 2015

Guidance on completing the SFVS Return

An overview of the requirements

DFE Guidance Changes

This is the current guidance issued by the Department for Education.

“Please use the web links in the guidance to access more information at present. We are working to incorporate this in the 2016/17 SFVS form”

10 things we learnt from the 2013-14 SFVS


For Further Information



School Financial Standard Briefing Note 2012

Schools Financial Value Standard Briefing Note:

What is the SFVS?
Schools manage many billions of pounds of public money each year.  Effective financial management ensures this money is spent wisely and properly, and allows schools to optimise their resources to provide high-quality teaching and learning and so raise standards and attainment for all their pupils.  The SFVS replaces the Financial Management Standard in Schools (FMSiS) and has been designed in conjunction with schools to assist them in managing their finances and to give assurance that they have secure financial management in place.

Who is the SFVS for?
The standard is a requirement for local authority maintained schools.  Other schools are welcome to use any of the material associated with the standard, if they would find it useful.   Governing bodies have formal responsibility for the financial management of their schools, and so the standard is primarily aimed at governors.