Literacy evening for Reception and Key Stage 1 Tuesday 19 th November 2013 1.
Tuesday 20 th November 2012
description
Transcript of Tuesday 20 th November 2012
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UNDERSTANDING SCHOOLFINANCES
Tuesday 20th November 2012
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UNDERSTANDING SCHOOLFINANCES
• INTRODUCTION
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Understanding School Finances
Nicholas MartenBusiness ManagerUWC Atlantic College
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Nicholas Marten
• Bursar for 24 years• Experience in maintained and independent
sector / day and boarding• Worked with 9 heads!• Former governor of 4 schools• Former Chairman of ISBA
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Understanding School Finances
• Finance – the main subjectWhat do we plan to achieve today?• How to read management accounts• Understanding cash flow• Build a vocabulary of terms
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Finance
Finance – the main subject
Demystifying the accounts!
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Management of finance in schools
• Key part of Bursar’s role• Involvement varies from school to school,
but:– Bursar must have grasp of subject– Head should be able to rely on Bursar in this
area BUT– Head must, however, have an understanding
of the topic!!!
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Finance
• Schools as charities• Profit vs surplus• Loss vs deficit• Reserves
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Finance
• Management Accounts– Budgetary control
• Monitoring– Monthly or termly
• Reliability• Circulation• Frequency
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Finance
• Management Accounts..\IPD finance course - monitor figs.xlsx
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Finance
• Budget setting– Timescale– Process
• Who?• When• How
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Finances
• Benchmarking– Benchmarking 2011.xls
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Finance
• Strategic Development– Planning– Financing– Monitoring– Review
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Finance
• Financial Regulations– Purpose– Content - Financial regulations– Review
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Finance – Cash flow
£0
£200,000
£400,000
£600,000
£800,000
£1,000,000
£1,200,000
£1,400,000
£1,600,000
£1,800,000
Sep-06
Oct-06 Nov-06
Dec-06
Jan-07 Feb-07
Mar-07
Apr-07 May-07
Jun-07 Jul-07 Aug-07
Fee receipts - 2011/2012
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Cash flow
• ..\Oct 12 CASHFLOW xls2.xlsx
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Debtors
• Possibly one of the biggest day to day problems facing schools – especially in current climate
• Apart from Health and Safety!
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Health and Safety
• Health and Safety
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Health and Safety
• Health and Safety – Slight digression – annual H&S awards
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Health and Safety Awards
• 6th place
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Health and Safety Awards
• 5th place
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Health and Safety Awards
• 4th place
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Health and Safety Awards
• 3rd place
• The Bursar who is indestructible!
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Health and Safety Awards
• 2nd place
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Health and Safety Awards
• Runner Up
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Health and Safety Awards
• And the winner is…
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Health and Safety Awards
• And the winner is…
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Debtors
• Possibly one of the biggest day to day problems facing schools – especially in current climate
• Processes - ..\Debt chasing procedure.docx
• Alternatives
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Finance
• Debtors– I am determined to stay out of debt, even if I
have to borrow money to do so!
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Finance
• Debtors
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Debtors
• Reporting to Governors– ..\Aged debtor schedule.xlsx
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Finance
• Terms!– SORP– SOFA– Depreciation– Accruals– Balance Sheet– Revenue vs Capital– Cash flow
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Finance
• Terms!– Fees in lieu of notice– Creditors / debtors
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Finance
• Statutory Accounts ..\arcollege.pdf– Audit process
• External• Internal• Audit Committees
– Reconciliation– Banking relationships– Structure, Governance and Management– RISK
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Finance
• Questions?