On the draft 2015 annual accounts you will have noticed a new piece of information for Board of Trustee hours. This is part of the new reporting framework that the Ministry require schools to record.

For 2015 most of the information was based on best estimate. However for next year onwards there will be an expectation from the Ministry and auditors that the figures are based on robust records that the auditors may wish to check. Here is a table showing how the BOT hours are compiled (the information is an annual total by meeting purpose):

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To compile this information, records need to be kept for each type of meeting per the table. We suggest the school keeps records of these meetings i.e. type of meeting, number of attendees and meeting duration. This would be provided to us as part of the year end information. We feel this information is best compiled and held by the school as the school will be in the best position to know these meetings have taken place. As you can see it is more than just Board meetings. If you need assistance in setting up a process to record this information please let your Client Finance Manager know.