5 FINANCING THE GOVERNORS’ CONTRIBUTION

There are a number of ways in which governors can finance their contribution towards building work. Governors are recommended to have their own account separate from the school’s various accounts. The governors’ contribution can be paid from the following sources:

 

School Budget

Money from the school’s delegated budget can be used to finance the 10% grant aidable/100% non-grant aidable contribution towards capital work.

 

Profit from Lettings

Money made from any lettings belongs to the governing body. All expenses such as heating, lighting and caretaking must be reimbursed to the school’s delegated budget, and any profit then paid into the governors’ account.

 

Money raising events

Many schools hold events at which money is raised in order to help finance building work. This may be particularly effective when parents can see the plans for a new scheme. Some schools ask for donations from parents or outside bodies towards building work. All church schools are exempt charities (similar to churches) and as such are eligible for income tax refunds on money given through Gift-Aid.

 

PCC

Some schools are in the fortunate position where their Parochial Church Council supports them financially.

 

Trusts

Some schools are supported by local trusts that may finance building projects to some extent. Governors should always check with the charity’s trustees before committing themselves to building work.

 

Deferred Payments

If governors are unable to finance their contribution immediately, they should consult DBE officers before the project is approved with a suggested timetable of payments. In the exceptional circumstances, the DBE may be able to defer the payment in approved cases. Schools with outstanding liability payments will not be able to apply for further SCA funding (except for emergency works) until these are paid in full.

Page last updated: Thursday 10th October 2019 12:20 PM
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