The Schools Financial Value Standard (SFVS) was introduced to local authority maintained schools in the academic year from September 2011. The SFVS does not apply to academies and free schools, but they can use the standard if they find it useful. The first collation of data was from September 2011 to 31 March 2012, applicable only for those schools that did not achieve the Financial Management Standard in Schools (FMSiS) before. All the remaining schools were required to submit their SFVS forms by 31 March 2013, with an annual review thereafter. The Education Funding Agency (EFA) monitors the submission of SFVS declarations through local authorities' dedicated schools grant assurance statements. It is a mandatory requirement for all local authority maintained schools to complete the SFVS assessment form on an annual basis and submit a signed copy to their authority. Local authorities are responsible for ensuring that schools submit SFVS returns and the EFA will be notified at that point if any warrant further investigation. The assurance statements for 2012 to 2013 show that: (a) There are no SFVS declarations outstanding in Barnsley local authority. (b) The area of the former South Yorkshire Metropolitan Council includes Barnsley, Doncaster, Rotherham and Sheffield local authorities: There are no SFVS declarations outstanding from schools in Barnsley; There are no SFVS declarations outstanding from schools in Doncaster; There are no SFVS declarations outstanding from schools in Rotherham; and There are four SFVS declarations outstanding from schools in Sheffield. A total of four SFVS declarations are outstanding from the area of the former South Yorkshire Metropolitan Council. (c) 1.1% of SFVS declarations are currently outstanding from the total number of maintained schools in England.