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2018-19 Year End Statement of Accounts

The dates for the submission of the 2018/19 year-end accounts are:
• SIMS and other non RM Schools on or before 12th April 2019
• RM Schools on or before 26th April 2019
The guidance and forms for the preparation and submission of the accounts will be available by the end of February.

Guidance for the Production of 2018/19 Year End Statement of Accounts

These guidance notes provide essential information to guide and assist schools in the preparation of the 2018-19 financial statements and consistent financial reporting returns. Hertfordshire county council maintained schools are required to make a number of returns at the end of every financial year.

  • LMSFR3-11 or FMS6 Income and Expenditure Report with LMSFR6,7,8,9,10 & 11 equivalents
  • B01 Committed Balances Form
  • Analysis of Accruals for non RM Finance Schools
  • CFR Report
  • Capital Return
  • Private Fund Account Return ( where the balance has exceeded £85,000 during the year)
  • Update leases information on SOLERO
  • Employees remuneration and exit packages information for  schools not using SERCO as payroll provider

This booklet details the requirements for all of the returns, deadlines and contact information.

CFR What to consider
B01 Commited Balances
FMS Schools Declaration
School Fund / Private Fund Account 2018/19 Declarations
Year End Statement of Accounts - Financial Return forms to be completed February 2019
Exit Packages Form 2018-19
Remuneration Form 2018-19

 

Government Agencies for Accruals at March 2019

Accruals need to be recorded in line with the categories as used throughout the Local Government Accounts structure. i.e. NHS, Other Local Authorities, Central Government, etc. In order to complete the “Whole Government Accounts” (UK PLC) in a consistent format in line with all other Local Authorities and public bodies, there is a level of analysis required to enable accruals to be collated correctly.

Accruals will fall into 2 categories

  1. Government Agencies ( analysed in detail)
  2. Other Entities and Individuals ( OTHER)

……consequently all ACCRUALS will now need to be prefixed.

All Accruals include:

  1. Debtors
  2. Creditors
  3. Receipts In Advance
  4. Prepayments

There are over 300 government agencies on the attached spreadsheet.

Accruals should be prefixed with the correct letters when entered to your accounting system. For example, if you owed the Food Standards Agency for resources you should prefix/reference the creditor to “FA026” and if you owed the Heinemann for a text book, this should be prefixed/referenced “OTHER”

 

Prefix

Name

OTHER

Other Entities & Individuals

CAD022

Academies Consolidated Account

FSA026

Food Standards Agency

IRT813

HM Revenue and Customs

ACL048

Arts Council of England Lottery

 

There are 3 Codes when including accruals to Hertfordshire County Council

Prefix

Name

HCCHBS

HCC – transactions with Herts Business Services

HCCDD

HCC- March year end Direct Debit entries (Biscuit 18th April old year transactions only)

E1920X

Hertfordshire County Council – all other HCC

 

WGA Short List of Codes
WGA Full List of Codes

 

Transactions with Academies 

Academies are independent, publicly funded schools. They are no longer Local Authority maintained and therefore their accounts do not form part of HCC’s accounts. If any HCC maintained school has transactions with an academy which have not yet been paid for by 31 March, these will need to be recorded as accruals in your year end accounts (prefixed/reference CAD022- Academies Consolidated Account).

List of academy schools in Hertfordshire:

 

Approved Budget Return (ABR) 2019/2031

The deadline for all HCC maintained schools to submit their ABRs is 31 May 2019.

 

Termly Returns & Revised Forecast Statements

All HCC maintained Schools are required to submit three (3) returns, one after the end of each term.

The reporting schedule will be as follows:

Year to end of

Period Covered

Submission date

Summer Term

1 April - 31 August

15 October

Autumn Term

1 April – 31 December

15 February

Year End

1 April – 31 March

This will be published as part of the year end guidance in due course.

 

Governing bodies are directly responsible for the financial stewardship of their schools and therefore must ensure that an effective monitoring cycle is in place. The above reporting cycle relates only to the reporting requirements of the authority and schools may continue to have or wish to add local monitoring arrangements as part of their governance, in order to meet the requirements of their governing bodies.

The only method of submitting termly financial returns to HCC is the e-based return using SOLERO. *Please use SOLERO to submit Schools' Capital Interim Return.

Instructions on how to upload your Termly Financial return.