Governors are responsible corporately for spending moneys delegated to them for the purposes of the school by the Local Authority in accordance with the legislation and funding regulations. They are not personally liable for the corporate decisions of the governing body.
Governors of maintained schools must follow Local Authority financial regulations (which are partly laid down by the School Funding Regulations). These will include rules on insurance (where relevant), contracts, and tendering. Governors need to be clear about these rules.