Finance for academies

Efficient and effective financial management is critical for any school and especially in times of change and financial challenge, this is a vital element to ensure success. Strong financial processes and access to timely and accurate financial information and forecasting is crucial in ensuring resources are allocated to achieve your goals.

We understand schools and appreciate the considerable challenge of supporting improved standards and providing value for money with limited resources. Our service provides specialist knowledge and advice for all aspects of school financial management – from system support, processes, procedures and compliance, to financial planning, modelling, monitoring, forecasting and deficit recovery.

We can provide support and advice on effective financial management and control which is consistent with academies obligations as publicly funded bodies and compliant with the Academies Financial Handbook.

  • We can tailor a support package depending on your financial requirements and expertise
  • We provide a dedicated Schools Finance Officer to assist with constructing and preparing budget submissions, guidance, provide training, produce reports etc
  • You receive a weekly newsletter with the latest information, helpdesk access via telephone or email, a secure website providing information, guidance, tools and links to other useful websites and resources
  • Further services available include monthly payroll reconciliations, VAT returns, bank reconciliations, cashflow forecasting, reporting, year-end accruals and statutory returns including CFR.

The following are some examples of support we can provide to academies and MAT’s:

  • Provision of an experienced SBM to cover / support if key financial staff are absent due to long term sickness and vacancies etc
  • Assistance in identifying your requirements, development and administration of the recruitment of SBM and finance staff. We can also join an interview panel and advise on candidate responses to finance and technical questions if required
  • Integrated curriculum financial planning using the I-SOT tool to measure different variables to help with financial and resource management
  • School fund audit support which includes good practice recommendations in respect of existing processes and procedures
  • Attendance at governor meetings to provide contextual information and technical explanations
  • Benchmarking using a variety of comparisons, produce and analyse reports.

We provide a comprehensive training programme designed to support SBMs, finance staff, head teachers and other members of the senior leadership team, whether new in post or experienced.

Why choose us?

  • Our highly experienced schools finance team all hold relevant, professional qualifications including AAT, CSBM, CIMA and have many years’ experience working with both maintained schools and academies. Their excellent understanding of a wide range of systems, policies, processes and procedures, and statutory / local regulations, gives you the confidence to always feel supported
  • We are friendly, knowledgeable, accessible and quick to respond to any educational financial question or queries in plain English, ensuring you always receive responsive, trusted advice, as well as key support and access to invaluable time saving tools
  • You can help reduce staff anxiety and save time by accessing an experienced member of our team to support you when you need it, whatever the nature of the query or question
  • You have access to our invaluable, informative and timely training sessions, which support professional development and knowledge, helping your team to better manage their understanding of an everchanging financial landscape.

For more information call Deb Luter: 01454 865907 or email: deb.luter@southglos.gov.uk