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Financial Management of Schools


Schools as businesses

Schools are increasingly being regarded as businesses. To be successful, they need to adopt disciplines similar to those found in successful commercial companies and follow best-practice approaches to their financial management and business activities in general.

Irrespective of the sector they operate within, we believe that all organisations need to have:

  • a clear and realistic strategy,
  • the financial resources, controls and systems to see it through and
  • the right management team and processes to make it happen.

Axiom-e can help any organisation get these essential factors right although our service is especially relevant to entities which cannot justify having a full-time finance director but who need the skills that qualified, well-experienced finance directors can provide.

axiom-education

Recent surveys have highlighted a number of potential issues with the strategy, finances and management of resources in independent schools. Given this, and in response to requests from clients, Axiom-e has tailored its offerings in order to offer a programme of services of specific relevance to schools.

Our offerings are provided under the broad title of axiom-education.

In the education sector, an Axiom-e portfolio Director providing high-level support can prove very beneficial to incumbent Bursars or Governing Bodies by undertaking projects associated with any of the services highlighted on our website, including for example:

  • capital expenditure programmes
  • strategic planning
  • reviewing systems and procedures

Given the increasing incidence of independent schools being sold, we can prepare the information necessary for Governors or Trustees to:

  • assess if their school should be sold
  • provide to prospective purchasers
  • determine if they should acquire other schools
  • help negotiate the sale or purchase
  • help raise funds for acquisition

axiom-evaluation

In addition, we are able to undertake an axiom-evaluation.

This Operating and Financial Review of a school's activities will result in a report setting out the key issues that need to be focused on in order to improve operational management as well as longer-term strategic issues.

As the review is not a statutory audit, it is able to take a broad view of business management and is not confined to the narrow area of accounting. Depending on what is asked of us, the review can address matters such as:

  • planning
  • marketing
  • financial management
  • human resources management
  • the management of premises and other resources.

Interested?

To benefit from our services, please contact us for a free initial discussion after which we will provide a quote for undertaking the work necessary.

 





Check out Ken Dickson's forthcoming speaking engagements including:

"Churches that Change Communities"
Cambridge,
28-Oct-17
where he will be speaking on "Social Business: Building the Future"





Axiom-e helps The Turbo Trust to transform lives and so can you  :