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Private Fund Manager Software and Guidance Notes

Voluntary funds often provide schools with a substantial additional source of finance. Although such funds are not public money, the standards outlined by OfSTED and the Audit Commission for school budgets are equally applicable to school private funds. Parents and benefactors are entitled to the same standards of stewardship for such funds, and where the school fund benefits from fundraising activities on behalf of the school, the governing body is responsible for discharging the trustees’ duty of stewardship and public accountability.

The school should ensure that there is a safe and efficient system for the custody and control of voluntary funds under the control of the governing body.

Guidance Notes on the scheme itself and to assist schools in the completion of the audit of school private funds, are available as downloadable documents below.

We have negotiated with Istek Ltd about the best way for interested schools to purchase this software. You may recall that the company promised a 15% discount if over 50 Sheffield schools bought the software. I am pleased to inform you that Istek have agreed to take the level of interest on trust and to allow the 15% discount on the assumption that sufficient schools will commit to purchasing the software.