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School resource management self-assessment: requirements

Date published: Date modified: 2023-01-25

It is compulsory for academy trusts which have an open academy to complete the self-assessment checklist each year.

The aim is to ensure that academy trusts are managing their resources effectively and identifying any adjustments that need to be made.

The deadline for the 2022 to 2023 school resource management self-assessment checklist is 15 March 2023.

Academy trusts must submit their return via the online form. The 2022 to 2023 checklist support notes provide guidance on the questions.

What is the school resource

management self-assessment (SRMSA)?

All academy trusts must complete the self-assessment checklist each year.

The checklist helps governing bodies and trust boards to:

  • Check they have appropriate financial management and governance arrangements
  • Check they are meeting the right standards to achieve a good level of financial health and resource management
  • Identify areas for change to make sure resources are used to support high-quality teaching and the best education outcomes for pupils

The checklist was previously part of the school resource management self-assessment tool (SRMSAT).

Who needs to complete the self-assessment checklist?

All academy trusts which have an open academy on 31 December 2022 must complete and submit a 2022 to 2023 self-assessment checklist.

Local authority maintained schools should use the schools financial value standard (SFVS), which you can read more about in our blog.

What will I be asked?

The checklist comprises a series of questions, to help assure the board that it's meeting the right standards.

The questions cover 6 sections:

  • Governance
  • Trust strategy
  • Setting the annual budget
  • Staffing
  • Value for money
  • Protecting the public purse

Use the checklist support notes for further guidance. 

You might also find it useful to refer to:

What is the self-assessment dashboard?

The self-assessment dashboard helps trusts complete their checklist. 

To find your self-assessment dashboard:

1. Search for your school(s) on the schools financial benchmarking service

2. Click on 'start comparison'

3. Click on 'self-assessment dashboard'

Guidance on completing the self-assessment dashboard is available.

The dashboard provides red, amber or green (RAG) rating against a school's data, which indicates how its spending and characteristics compare with similar schools or nationally recognised bandings and recommendations.

The dashboard was previously part of the SRMSAT.

What if I need support? 

Our consultants can support and guide you through the process.

With our support, you will be able to produce everything you need for self-assessment checklist compliance, which includes:

  • Reviewing your self-assessment checklist
  • Reviewing your self-assessment dashboard
  • Assisting you with the completion of your submission
  • Preparing financial benchmarking reports for you to consider at your next trustee meeting, in accordance with the requirements of the self-assessment checklist

If you would like our assistance, then simply click here to get in touch.

We are running a free session on preparing for the SRMSA on 26 January, 2.30-3.30pm. Sign up here. If you have missed the session or cannot attend, please get in touch at marketing@saafeducation.org for a copy of the training presentation and a recording of the session.

Related Articles:

It's Time to think about your school financial value standard

By SAAF Finance
SAAF Education 340 110

25 January 2023



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