Schools financial health checks

6 Jul 2016 09:00 AM

A new financial health checks service for schools to help improve their financial efficiency.

Good financial health is essential to delivering educational excellence. Many schools already manage their budgets well, but others sometimes struggle. As with other public services, schools will face additional financial pressure in the next few years. This means that there is more need than ever for schools to improve their financial efficiency. Schools must ensure that their budgets deliver the best possible value for money and the best possible outcomes for children and young people.

Having access to good financial advice and support is an important part of running an effective school.

There are a number of ways that schools can access external face-to-face support on financial planning and health. This could be from other local schools or sector organisations, consultants, accountancy companies or networks of school business managers and finance directors. Some schools may want to ask an external organisation to help them review their current financial position, identify issues and take appropriate action to address them.

Information for schools

To support schools in becoming more efficient and financially healthy, we have:

• developed a financial health checks structure that aims to help schools identify if they would benefit from an external financial review
• developed a directory of some of the suppliers that can provide these checks, or elements of these checks (some suppliers will be able to provide their services for a low cost or no cost, other suppliers may charge for their services)
• published guidance for schools on how to choose a supplier from the directory

You can read more at financial health checks for schools: supplier directory.

Information for suppliers

We have developed a directory of suppliers offering financial health checks to schools. We’re looking for more suppliers to deliver the health checks, including schools and local authorities. If you offer advice to schools on financial management, you can:

• establish what types of support you can provide from the health checks structure
• register to be included in the schools financial health checks supplier directory using our online form
• read our guidance for suppliers to help you to provide a good quality service to schools

You do not have to be a commercial supplier to register.

You can read more at financial health checks for schools: supplier registration form.

Please note that:

• the schools financial health checks supplier directory is not a complete list of organisations that provide financial support to schools
• organisations listed in the supplier directory are not endorsed by the government, DfE or EFA

Questions, comments or suggestions

We’d like to hear from you if you have any questions, comments or suggestions about this page or any of the schools financial efficiency content. This includes how we can improve the content and what other materials you would find helpful.

If you are an academy, local authority or post-16 provider, please use the EFA enquiry form including schools financial efficiency in the subject title.

For all other institutions, including maintained schools, please use the DfE enquiry form including schools financial efficiency in the subject title.