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?:

You will have an understanding of charity accounts as used in schools
Learn the basics of management accounting and have an insight into what questions to ask and how t identify potential red flags
Understand the importance of accurate budgeting, cash flows and forecasting
Learn some of the key terms used in school finance meetings
Discuss current financial challenges facing independent schools

Course Programme:

Time	Session
15.30	Welcome and introduction
	Explanation of charities and accounting Principles of management accounts Reading management accounts Questions to ask Cashflow Balance sheet Budget setting Financial problems facing schools Cost of living Fee debt Covenants and banking relationships 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.