One of the board’s core functions is to oversee financial performance and make sure money is well spent. It should do this by ensuring it has at least one individual with specific, relevant skills and experience of financial matters. However, everyone on the board should have a basic understanding of the financial cycle and the legal requirements of the school on accountability and spend. Staff should ensure the efficient and effective use of the organisation's resources for the benefit of pupils, and ensure that systems for financial planning and control are appropriate and sufficient.

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