The role of Bedfordshire County Council's Financial Policy Team, as far as it relates to schools, involves the preparation of annual schools' budgets; the management of the Local Authority Scheme for Financing Schools (including all bank account schemes and school's financial regulations) and all matters in relation to the review of the schools' budget allocation formula. The team also develops financial policies in line with the decisions made by Portfolio Holders (County Councillors).

Schools are entitled to visits from their schools' financial adviser who will answer queries, correct errors and offer advice. The team also monitors school expenditure and reconciles schools' bank accounts.