The Hub Invoicing - Financial Year 2023/24 for Maintained Schools

FAO: SBM & Finance Teams

The Schools Traded Services team, in agreement with the Schools Finance Team will invoice on an annual basis for the services ordered via The Hub for the financial year 2023/24. The Hub orders relate to the financial period 1st April 2023 to the 31st March 2024 and the annual invoices will be issued May 2023. A statement of your purchases will be sent to you in due course.

To support schools with the impact that this change will have on schools’ cash flow, it has been agreed with the School Finance Team that an amount of funding equal to the annual The Hub Orders will be bought forward from the March 2024 budget share advance to the May 2023 budget advance. This action will:

  • Reduce administration for both schools and local authority staff.
  • Ensure schools can cover the direct debit without risk of going overdrawn.
  • Remove bad debt with the local authority’s Accounts Receivable Team.

Please ensure you have the appropriate measures in place to accommodate this.