Last updated:

4th April 2024

Schools Financial Value Standard and Assurance

The SFVS forms for 2023-24 must be submitted by schools by 31 March 2024.

The SFVS helps schools to manage their finances and to provide assurance to the local authority that they have secure financial management in place.

The guidance applies to maintained schools and local authorities and is for:

  • Governing bodies of maintained schools
  • Management committees of pupil referral units
  • Local authorities
  • Other interested parties.

As governing bodies have formal responsibility for the financial management of their schools, the standard is primarily aimed at them.

Local authority-maintained schools are required to submit the SFVS annually to their local authority. Local authorities use this information to inform their programme of financial assessment and audit.

The SFVS assessment form, support notes, dashboard, and additional resources can be accessed by clicking the button below: 

Government information on SFVS