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Implementing sound financial regulations makes good business sense and has additional significance for education institutions as their grant funding depends upon it. This model set is designed to help institutions establish and test financial regulations that set out the financial policies of the institution.
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The financial memoranda, or funding agreement between funding bodies and the institutions they fund, makes it a condition of grant that an institution ensures that it has a sound system of internal financial management and control; and financial regulations are a core component of such a system.
This model set is designed to help institutions establish and test financial regulations that set out the financial policies of the institution. The model set is not intended to be prescriptive and has been written in a format that will enable finance professionals to modify the regulations to the structure, size and circumstances of their own institutions before being presented to their governing bodies for approval.
This latest edition includes new sections on topical issues such as:
It covers universities and colleges of higher education, further education institutions and sixth form colleges. It has been updated to cover academies (including free schools) and multi-academy trusts. Any differences between these types of institution are clearly signalled in the text.
This model set is available in book, CD-ROM and bookmarked PDF formats. The CD-ROM contains a bookmarked pdf of the publication, together with fully searchable text enabling users to search powerfully and accurately for any given word or phrase. It also allows users to focus on the sections applicable to their own type of institution. It comes complete with a licence for networking to all established employees of the purchasing organisation only. Details of licensing arrangements for other categories of purchaser, which includes those organisations operating shared service arrangements, are available from CIPFA’s Publications Department firstname.lastname@example.org.
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Publications and resources
Effective Governance and Financial Management in Academies
Handbook for Audit Committee Members in Further and Higher Education (Fully Revised Second Edition)
Higher Education Finance (Fully Revised Third Edition 2011)
Partnerships and Other Alliances: Case Studies from the Further and Higher Education Sectors
Resource Allocation Models in Further and Higher Education: A Compendium (Fully Revised Second Edition 2010)
The role of the chief financial officer in further education
Accounting for Academies: Business Solutions for Financial Reporting (2013 Edition)