Administration of Home Finances Policy

This Administration of Home Finances Policy has been designed for children’s homes to support full compliance with the Children’s Homes (England) Regulations 2015 and the associated Children’s Homes Quality Standards.

The policy provides clear, practical guidance for staff on managing and administering the home’s finances, ensuring transparent, accurate and accountable financial practice. It outlines procedures for budgeting, petty cash, income and expenditure, receipts, and record keeping, and sets out responsibilities for financial approvals and auditing. The policy emphasises safeguarding, preventing financial abuse, maintaining confidentiality, and ensuring that all financial decisions are made in the best interests of children and young people and the safe running of the service.

Provided as an editable Word document (digital download), the policy enables services to tailor content to their individual home, financial systems, and operational procedures while maintaining regulatory compliance.

These documents are guidance only and must be adapted to reflect each home’s individual practices. Providers are responsible for ensuring ongoing compliance with legislation, regulations, and Ofsted expectations.