One of the three core strategic functions that must be effectively discharged by governing boards is overseeing the financial performance of the school and ensuring that its money is well spent.
Achieving value for money and identifying financial efficiencies are key current issues facing governing boards in light of the funding pressures faced by all schools.
This session will provide governors with knowledge of the basics of school finances and financial monitoring. It is aimed at governors who are new to finance and those with financial experience who are new to governance. The training session, using a mix of focused learning and practical exercises, will
- Provide an insight into how schools are funded;
- Consider the strategic role of governors in both the approval of the annual budget as well as the regular monitoring of actual financial performance relative to budget;
- Develop governors' confidence in understanding and questioning the financial information provided to them, by reviewing a Quarterly Monitoring Report together; and
- Develop governors' awareness of the questions they should be considering when reviewing the effectiveness of a school's spending, looking at tools such as Financial Benchmarking and the Schools Efficiency Metric Tool.
This session will provide governors with knowledge of the basics of school finance and financial monitoring.
To book your place, please contact your school office.
This course is suitable for all governors, but especially those on the Finance/Resources Committee and those with an interest in financial management.