Benchmarking is comparing data from a school with other, similar schools. Benchmarking covers all aspects of school performance. Benchmarking helps the school to look at areas in which it is doing well or might be able to improve it’s financial performance. It provides a helpful guide and a starting point for further questions and investigation.
The School Financial Value Standard (SFVS) requires that Governors confirm that they have benchmarked their income and expenditure at least annually. Governors must investigate further where their school is out of line with others.
The school completes a benchmarking exercise as part of the SFVS Governor audit on an annual basis. The last report was presented to the FGB on 30th March 2023.
Please see below the latest DFE Benchmarking Report for 2021-2022
Staff and Governors should declare any links they have with local firms from which the school may wish to buy goods or services. It is important for anyone involved in spending public money to demonstrate that they do not benefit personally from decisions that they make. All Governors complete a declaration annually on the GovernorHub, and it is a standing agenda item for every Governor meeting. Any staff that have access tothe School Revenue and Cabpital budget should make a declaration annually, updating if any changes happen. These members of staff include the Headteacher, Assistant Headteachers and the Admin Manager.
We currently have no pecuniary interests at Woodcroft Primary School. Any Governor peciniary interests are declared and can be found on the “Full Governing Body Information 2022 – 2023” document under Meet the Governors.