Value for Money Evidence Pack for Schools: What to Keep for Audit (2026)

This guide is practical, plain-English support for academy trusts and schools. It does not replace the official Academy Trust Handbook or your trust’s own finance and procurement policies. Always refer to the latest official guidance and internal procedures.

What is a value for money evidence pack for schools?

A value for money (VfM) evidence pack is a tidy set of documents and notes that shows:

• what you needed and why

• how you compared options fairly

• how you managed conflicts of interest

• why the chosen supplier was the best overall option (not just the cheapest)

If you can produce this quickly, you reduce audit risk and make procurement faster across the trust.

The audit-ready procurement file (master checklist)

Use this as your standard folder structure. Scale the depth up for higher value or higher risk purchases.

1) Need and scope

Keep:

• a short statement of need (the problem you’re solving)

• a clear scope/specification (what’s included and excluded)

• constraints (timescales, term-time access, safeguarding, data protection)

• budget holder and cost centre

2) Route to market (how you sourced options)

Keep:

• the sourcing method used (quotes, tender, framework, existing contract call-off)

• a short note explaining why that route was appropriate

• the list of suppliers approached (and when)

3) Supplier responses

Keep:

• all quotes/submissions received

• clarifications and supplier answers (email trail is fine)

• site visit notes (if relevant)

4) Evaluation and decision record

Keep:

• evaluation criteria agreed before reviewing prices

• scoring sheet (even a simple table)

• a short decision summary explaining best overall value

• approvals (who signed off and when)

5) Conflicts of interest and proportionate checks

Keep:

• declarations (where required)

• notes on how conflicts were managed

• proportionate checks (for example: insurances; safeguarding expectations where relevant; financial stability checks for higher-risk contracts)

6) Contract and purchase documents

Keep:

• contract/order form and purchase order (if used)

• key dates: start/end, break clauses, renewal and notice periods

• pricing schedule and deliverables

7) Implementation and performance

Keep:

• named contract owner

• KPIs/success measures

• issues log and resolution notes

8) End-of-contract review

Keep:

• renewal/retender decision note

• supplier performance summary

• lessons learned

Copy/paste evaluation template

Step 1: Choose your criteria

Pick 4–6 criteria and keep them consistent.

Example criteria:

• Price and whole-life cost

• Quality and suitability

• Delivery timescales and capacity

• Service and support

• Compliance and risk (for example: safeguarding, data protection, site safety)

Step 2: Optional weighting

Write weights down before you open supplier responses.

Example weighting:

• Quality and suitability: 40%

• Price and whole-life cost: 30%

• Delivery timescales and capacity: 15%

• Service and support: 15%

Step 3: Score and record a short rationale

Use a 0–5 scale and add one sentence explaining each score.

Supplier	Price	Quality	Timescales	Support	Total	Notes
Supplier A
Supplier B
Supplier C

Decision summary prompts

• Need:

• Route to market used (and why):

• Suppliers considered:

• Evaluation summary:

• Why this supplier is best overall value:

• Approvals:

Common pitfalls (and quick fixes)

• Only saving the winning quote: save all responses so you can evidence a fair comparison.

• No written rationale: add a short decision summary every time.

• Changing criteria after seeing prices: agree criteria first, then score.

• Auto-renew surprises: record renewal dates and notice periods in a simple contract register.

• Only comparing headline price: note whole-life costs (call-outs, training, consumables, maintenance).

Next steps

• Create a shared folder structure for evidence packs across your trust

• Standardise the evaluation template

• Assign a contract owner for each significant supplier

This is part of the Procurement Hub – Academy Trust Handbook 2026: Procurement & Value for Money Hub (Audit-Ready Checklist).

You’ll find the related guides below in the procurement hub.

Single Tender / Direct Award: How to Justify It (Without Increasing Audit Risk)

Procurement Thresholds for Academy Trusts (2026/2027): Quotes vs Tenders

Contract Management Checklist for MATs: Renewals, Extensions, KPIs and Performance

Value for Money Evidence Pack for Schools: What to Keep for Audit (2026)