Responsibility
Best Value is not a statutory requirement for schools. However, governing bodies are required to set targets to raise standards and they are expected to provide good-quality schooling and to spend public money wisely. In recognition of this, the statutory guidance on local authority (LA) schemes for financing schools requires schools to demonstrate that they are following Best Value principles.

Guidance
The TeacherNet website provides a detailed outline of the implications of Best Value for schools (see web links below).  In addition, the DCSF Value for Money (VFM) website contains links to the following resources:

• the Ofsted/Audit Commission guides to effective management in schools (Getting the Best from your Budget) and financial management (Keeping your Balance)
• the DCSF/Ofsted guide to Best Value in Schools

Follow the link to Best Value in Schools publications – VFM website in web links below.