Finance Services for Academies

NEW from September 2015

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Our Finance Services

We share our expertise in financial management to help you stay in control of your academy's budget. With our support, whether bespoke or ad hoc, you will be able to strategically focus your resources on the areas that need them the most.

Accountancy Services

Our accountancy service are delivered by a qualified accountant, experienced in education sector finance. Our focus is on ensuring that your finance staff are up to speed in their role so that they work effectively with us. We offer the following services, separate or combined:


Month-end and Year–end accounts

  • SOFA (or custom IE), Balance Sheet and Cash Flow Statement produced monthly
  • Reports can be tailored to the preference of the trustees' finance committee, including additional KPI reports
  • Monthly meeting with the accounting officer to go through and interpret these reports
  • Guidance provided to finance staff on how to be prepared for the month-end visit


Year-end accounts

  • SOFA, Balance Sheet and Cash Flow Statement produced to meet the EFA's standards
  • Accounts closed as per the Trust's timetable


Final (year-end) accounts audit

  • Delivered through Octavo Partnership by a trusted firm of chartered accountants
  • Audited accounts delivered before the 31st December DfE deadline
  • With only four months to complete the audit a good working relationship is key


Budget management
  • This service can be purchased on its own or month-end visits can be extended to include more detailed budget updating and monitoring
  • Collaborative on-site and remote work with the academy finance staff using the online budget software FPS Web (HCSS)

Internal Audit service

Internal financial processes audit (formally the Responsible Officer role) is delivered by a qualified accountant, experienced in education sector finance procedures. The internal audit service is appropriate for individual academies and multi-academy trusts. We frequently meet with trustees and suggest doing so on a termly basis.


Key features:


  • A full review of all finance-related processes
  • Full compliance with the most recent Academies Financial Handbook
  • Audit programme provided by Octavo but agreed with trustees in advance of starting the work
  • Draft audit report provided for the trustees to review prior to finalisation
  • Finance staff briefed on follow up actions required

“The best finance service our schools have ever had..."

“The best finance service our schools have ever had. Our advisor goes above and beyond, providing excellent advice and support. We would highly recommend this service to anyone.”

Susan Papas - Executive Headteacher, Federation of Heavers Farm and Selsdon Primary Schools


"I have found our advisor to be meticulous and thorough taking the time to not only ensure accuracy but to ensure the school staff members that he works with have a clear understanding of the current position."


Terry Cefai - Head Teacher, Wolsey Infant and Nursery School

Call 07920 657 703 to speak to Patrick Leavy about Finance Services for your academy or email patrick.leavy@octavopartnership.org

We are the Octavo Partnership

The Octavo Partnership is a mutual venture between Croydon Council, Croydon Headteachers Association and staff to deliver high quality education support services in Croydon and further afield. Octavo comprises of the following core services:


  • Educational Psychology
  • Governor Services
  • School Improvement
  • Information Systems
  • Human Resources
  • Finance Services
  • Education Business Partnership
  • Brokered Services