Schools' Financial Support Panel

Background

The Scheme for Financing Schools (April 2018) applies to all Southwark maintained schools and makes it clear that it is the duty of each governing body (or other relevant body) to ensure that the school plans and conducts its affairs in order to remain solvent, to apply good financial management practice and follow best value principles in their expenditure.

It is recognised, on occasion, there may be unforeseen or additional costs, which can place additional pressures on a school budget. In these instances, schools (subject to meeting the eligibility criteria) are able to request additional financial support through one of two funds: the Schools Financial Contingency and the Falling Rolls Fund.

About the fund

Southwark maintained schools elect to contribute to the fund.

Southwark Schools’ Forum has the discretion to allocate funds for financial support to the funds. This is reviewed on an annual basis.

Southwark Schools’ Forum has delegated responsibility to the Schools’ Financial Support Panel (SFSP) to act on its behalf.

The Head of Schools’ HR will oversee the budget of the contingency on behalf of the Southwark Schools’ Forum. The Head of Schools’ HR has delegated authority from the Forum to authorise requests for financial assistance up to the value of £5,000 on behalf of the Panel from the contingency.

Who can apply for funding?

Maintained schools, in financial difficulties, who have contributed to the contingency fund can request support from the Panel. All schools including academies can apply to the falling rolls fund.

Maintained schools, where there are no financial difficulties and balances are sound, are NOT eligible.

Dates for 2024/25

	Category of staff - notice	Paperwork submitted and panel to review documentation	Confirmed date	Time	Decision	Commencement of restructure process	Implementation date
For those who are doing a support staff restructure for 6^th January 2025 and are willing to pay in lieu (have missed summer term deadline)	Support Staff with PILON to be paid	w/c 6^th September 2024	Thursday 12^th September 2024	(9.30am - 10am: pre-meet) / 10am - 12pm	within 1 week of the panel	w/c 23^rd October 2024	Monday 6^th January 2025
For effective date 22^nd April 2025 (beginning of summer term) for teachers with 12 weeks/those who want to give 12 weeks notice	Teaching Staff / Support Staff with MAX 12 weeks notice	w/c 14^th October 2024	Thursday 21^st October 2024	(9.30am - 10am: pre-meet) / 10am - 12pm	within 1 working week of the Panel	w/c 4th November 2024	Tuesday 22^nd April 2025
For effective date 22^nd April 2025 (beginning of summer term) for those teachers with 8 weeks of notice or less and support staff with less than 8 weeks notice/if school is prepared to pay in lieu	Teaching Staff who have only 8 weeks notice/Support staff who can be paid in lieu/Support staff with 8 weeks or less notice	4^th November 2024	Monday 11^th November 2024	(9.30am - 10am: pre-meet) / 10am - 12pm	within 1 week of the Panel	w/c 25^th November 2024	Tuesday 22^nd April 2025
For effective date 1^st September 2025 (teachers or 12 weeks notice)	Teaching Staff / Support Staff with MAX 12 weeks notice	w/c 3^rd February 2024	Monday 10^th February 2025	(9.30am - 10am: pre-meet) / 10am - 12pm	within 1 week of the Panel	W/C 3^rd March 2024	Monday 1^st September 2025
For effective date 1^st September 2025 if support staff and willing to pay in lieu an will start consultation in week of 22^nd April 2025 instead	Support Staff with PILON to be paid	w/c 10^th March 2025	Monday 24^th March 2025	(9.30am - 10am: pre-meet) / 10am - 12pm	within 1 week of the Panel	By w/c 22^nd April 2025	Monday 1^st September 2025
For effective date 5^th January 2026	Teachers and Support Staff	w/c 2^nd June 2025	Monday 9^th June 202	(9.30am - 10am: pre-meet) / 10am - 12pm	within 1 week of the Panel	By w/c 23^rd June 2025	Monday 5^th January 2026

Documents

SFSP Application Form ^(docx)

SFSP Application Checklist ^(docx)