YEAR END 2012/13

Angela Farmer

Finance Unit

Resources Group

Why Do We Do This?

• Council’s (including schools) year end is 31/3/13. Year end accounts are produced and must be externally audited.

• Need to ensure that accounts reflect the true position ie all income and expenditure relating to 2012/13 financial year is accounted for.

• Final closedown date is Thurs 2nd May

SEA Returns• Balance SEA return to Thursday 28th March

2013 ie last banking day before year end.

• Submit to Abid in Finance by Thursday 18th April

• Include copy of bank statement which shows the balance at end of March

• Include list of uncleared transactions from Money Manager/SIMS as at date of your bank reconciliation

Definitions

• Special Creditors“Work done/goods received up to 31/3 but the payment has not yet been made.”

• Special Debtors“Income due on/before 31st March but this has not yet been received.”

Definitions (2)• Receipt in Advance

“Income received and paid into bank on/before 31/3 but expenditure will occur in new year.”

• Payment in Advance

“Payment made before 31/3 but goods/services to be provided/received in new financial year.”

How to Complete Forms

• Exclude VAT from amount on form

• Minimum level for individual item is £250

• Separate forms for internal & external suppliers (ie council services are internal)

How Transactions Appear in MPGL

12/13 13/14

Creditor debit credit

Debtor credit debit

Receipt in advance debit credit

Payment in advance credit debit

Other Information

• Salaries & Wages Accruals:

- will be done automatically (see year end instructions on intranet - app 4)

• Journals– Friday 26th April is the final date for school

journals relating to 2012/13

Summary Deadline Dates

• Thursday 18th April 2013

– Period 13 SEA return to Finance + bank statement + list uncleared transactions

– Year end forms ie creditor, debtor etc to Finance including NIL return

– Supply agency supply claims to Finance

MPGL Prints

• W/c 11th March: CP12 prints requested (nb: no teachers salaries)

• W/c 29th April: CP13 prints requested

• W/c 6th May: CP14 prints requested

School Balances

• Notification w/c 6th May

• Excess balance threshold:

8% Middle and secondary

10% Nursery, primary & special

• 7th June: deadline for return of excess balances pro-forma

CFR

• July 2013 school information sent to DfE by Finance

• October: DfE place information onto their benchmarking website:– www.education.gov.uk/sfb