Understanding School Finances - Tuesday 12 November 2024 (Online)

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

Description

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

What will you gain by attending?:

  • Gain an understanding of school accounts
  • Learn the basics of management accounting and have an insight into what questions to ask
  • Discuss current financial challenges facing independent schools, particularly VAT
  • Understand the importance of accurate budgeting, cashflows and forecasting
  • Learn some of the key terms used in school finance meetings

Course Programme:

Time

Session

15.30

Welcome and introductions

 

The programme for the session will include:

  • Explanation of charities and school accounting
  • Principles of management accounts
    • Reading management accounts
    • Questions to ask
  • Cashflow forecasting  
  • Budget setting
  • Current issues facing schools
    • VAT and loss of business rate relief
    • Teachers’ Pensions and alternatives
    • Fee debt
    • Options for schools – different ownership models / mergers
  • Benchmarking
  • Terminology
  • Practical exercises and breakouts
  • Q&A 

A short refreshment break will be ‘timetabled’

 

18.30

Close

Course Director Biography:

Nick is a Bursar of 35 years standing, having worked in day, boarding, single-sex and co-educational schools, and he is also a former Chairman of the Independent Schools’ Bursars Association (ISBA). He now undertakes consultancy and interim Bursar roles in the independent. He has been a Course Director for HMC PD’s Understanding School Finances courses for more than a decade. Nick is based in Anglesey, where he also runs a smallholding and holiday business with his wife, Suzi, a former Headmistress.