Changes to school funding – are you ready?
You could be forgiven for trying not to think about the imminent changes to school funding. It is a complex area, with sometimes limited information and the timescales seem to change from week to week.
This is an extremely important issue for all schools, which needs to be considered urgently to ensure financial sustainability and continuous school improvement. All schools, including the highest performing schools, need to have a deep understanding and insight into their current financial position and the viability of their existing staffing structures and organisation’s systems and set-up into the future. Pupil outcomes may look good now, but how will they be sustained if funding levels reduce over the coming years? If pupil outcomes are not so good, how will you continue your journey of improvement without adequate funding to meet your goals?
Here at School Financial Success we are providing you with the knowledge and tools that you need to be able to do just that. Our eBook and toolkit are unique and practical. We know how precious school leaders’ time is and how focused you need to be in order to be effective.
The eBook has been written as a response to the uncertainty that schools now face in relation to their school funding. Whilst the Stage 2 consultation will provide indicative values for the National Funding Formula, these can only be for consultation at this point. The final 2018/19 funding allocations for your school will depend on the October 2017 census data and your local authority’s decisions on the local formula, at least until DfE fund schools directly.
The approach we have taken is based on the reality that if school leaders wait until decisions are taken on the values for the National Funding Formula (NFF) for 2018-19 onwards, it will be too late to start planning the necessary changes to their budgets. That could potentially be disastrous, with some schools needing to make major budget cuts to make up for lost time.
What we offer in this book is an explanation of the changes to school funding as far as they are known at this point, and a step-by-step process with bespoke tools to guide you through making predictions of per pupil funding, projected rolls and other funding changes. By identifying three or four scenarios for future funding over a five-year period, you can start to assess the level of savings required and plan how to achieve them.
We provide spreadsheets and templates all leading to the production of a Financial Sustainability Plan, which you can tailor for presentation to governors as a blueprint for your school. The tools you have used will provide evidence of your thinking, assumptions and key data. This will help school leaders and governors have an in-depth discussion and agree a strategy to achieve a sustainable budget. It will ensure the financial leadership of your school is outstanding.
Who is the eBook for?
The eBook is aimed at Headteachers, School Business Managers, Chairs of Governors, Chairs and members of Finance Committees, and any other school leaders involved in strategic finance work to achieve a sustainable budget in these uncertain times. Even the most experienced leaders might well be feeling daunted by all the talk of changes to school funding that lie ahead, especially when you set the uncertainty alongside the relentless pressure to keep on raising standards and survive the next inspection.
The material will also be of use to aspiring leaders looking to advance their career, so the next generation of headteachers and school business managers can hit the ground running, having a fundamental understanding of strategic financial approaches. We want to share our knowledge and experience in the interest of a better deal for children and young people, helping leaders to ensure that resources are managed well, to provide their pupils with an outstanding education that sets them up for life in the adult world.
Online course also available
We have also produced an online course to accompany the eBook if you require an extra helping hand to work through the practical activities. This would suit those who are feeling less confident but is also a wise way for anyone to work who wants to use their time as efficiently as possible. Our online explanations and demonstrations for completing the downloadable documents which construct your Financial Sustainability Plan, will speed up the process and get you to this ultimate goal and ready to present to your Governing Body and other school leaders or stakeholders.
Tried and Tested
Our feedback so far has been extremely positive with Headteachers (Primary and Secondary), school business managers, senior leaders and education funding consultants from across the country confirming the relevance, timeliness and unique nature of the material. Here is what a couple had to say:
Introductory offer prices
Ebook (including downloadable documents)
Introductory offer price £35. Offer will end at midnight on the 30th September 2016 and from the 1st October 2016 the book will be available at the full price of £50.
Introductory offer price £70. Offer will end at midnight on the 30th September 2016 and from the 1st October 2016 the course will be available at the full price of £100.
Read our other blogs and biographies to find out more about the team at School Financial Success. Contact us at any time with questions, requests and ideas for future publications.