New Spending Guidelines deadline
All SFS members should be using the new Spending Guidelines and Version 2.0 format from 1 May 2018.
Earlier this year, we issued communications notifying that the Spending Guidelines for the (SFS) had been updated and approved for 2018. Along with the updated Spending Guidelines, we also issued an amended format of the two-page summarised Standard Financial Statement (Version 2.0). Organisations had up until 1 May 2018 to implement both these changes.
Full details on the changes are available here.
We are posting this notification as a reminder that the 1 May deadline has now passed.
Any organisation not using the new Spending Guidelines and SFS Version 2.0 format would be failing to meet the conditions agreed to in the SFS Code of Conduct and may risk challenge from organisations receiving statements after the deadline.
Creditor members should also be fully aware of the new Spending Guideline amounts in preparation for the ongoing use of them by all members from May.
SFS roll-out update
There are currently almost 1200 individual organisations signed up as SFS members. The Money Advice Service, as administrator of the SFS, is pleased to report that this membership group is growing daily with an increasingly diverse range of organisations. It is particularly encouraging to see a recent rise in memberships for local authorities, with 130 now signed up.
If you are having issues with updating to the new spending guidelines and format – or for any other SFS-related queries – please use the Contact Us page.