Guidance for Improving School Financial Outcomes

Posted by on May 17, 2016 in Uncategorized | 0 comments

Guidance for Improving School Financial Outcomes

 

We’ve been doing some work with the National Association of School Business Management (NASBM), helping them launch an exciting and highly valuable new report for schools.

At the end of 2015, NASBM commissioned a deep dive research project into operational efficiency in schools. The final report, Guidance for Improving School Financial Outcomes, suggests that all state-funded schools, even those previously considered ‘efficient’, have the ability to make significant savings through simple changes and efficiencies.

Highlights from the research

NASBM’s research found that even small administrative changes – such as using existing resources more prudently and implementing better time management and staff training – could result in savings of up to 20% on administration costs.

Budget-saving changes schools are encouraged to make include:

  • Joining with other schools for procurement to make bulk orders, driving down costs;
  • Training senior leaders to improve their financial acumen and enabling them to make more efficient purchasing decisions;
  • Introducing improved cash management and payment processes;
  • Making better use of non-teaching time by reducing the amount of time staff spend on meetings and cutting unnecessary email traffic;
  • Making the most of technology by refreshing old hardware and reducing print and copy costs.

NASBM’s guidance is available to all schools and can be downloaded from the website. We would certainly recommend registering for a full copy!

Many thanks to Optimus Education who co-funded this important project, and also to OEE Consulting, the experienced ‘Lean’ consultants who undertook the research. We are sure that the final report will prove to be an extremely valuable resource for schools across the UK.

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