(34) Understanding School Finances (The Amba Hotel, Marble Arch, London, 22 May 2019)

The course will provide delegates with tips on how to read accounts and provide an understanding of some of the key terminology and approaches used in schools as businesses. The afternoon session will give the delegates a chance to put some of the theory into practice.

This course is for:
Heads and members of Senior Leadership Teams in HMC and other independent schools.

Description

Course Objectives:

By the end of the course delegates will have:

  • Gained an understanding of charity accounts
  • Learned the basics of management accounting and have an insight into what questions to ask
  • Understood the importance of accurate budgeting, cash flows and forecasting
  • Learned some of the key terms used in financial management
  • Discussed current financial challenges facing independent school

Course Outline:

09:45 - 10:15

Arrival, registration and coffee

10:15 – 10:20

Welcome and introductions

Nicholas Grenfell-Marten, former Chairman, ISBA

10:20 – 10:40

Session 1: Understanding School Finances – an Introduction

10:40 – 12:30

Session 2: School Accounts

(a)         Management Accounts

(b)         Budget setting

(c)         Cash Flow forecasts

(d)         Statutory Accounts

(e)         Other financial issues

(f)          Important terminology

   

12.30 – 12:45

Session 3: The role of The Independent Schools’ Bursars Association (ISBA)

12:45 – 13:00

Review of the morning session

13.00 - 13.45

Lunch

13.45 – 15:15

Session 4:  School Finances – Practical exercises & discussion

15.15 – 15.45

Questions, Tea and Depart