Bursarial Services (ad-hoc and contract based) overview
Financial management in Schools and particularly Academies is becoming more and more complicated and technical. With real terms shrinking resources and increasing pressure on School leaders to deliver high standards it has never been more important to have robust and effective financial management support.
Whether it is short term assistance to cover a staff vacancy or longer term support to strengthen the financial management function, we can deliver a range of Bursarial Services tailored to meet your specific needs. Our Bursarial Services are delivered by experienced practitioners that not only have a wealth of knowledge but have previously worked in School/Academy finance teams. As well as knowing what needs to be done they have also been there and done it!
Ad-hoc Bursarial Services
We offer a range of Bursarial Support Services that can be delivered as a one-off piece of work or on a ‘pay as you go’ basis:
- Budget setting
- Budget monitoring – monthly or quarterly
- Year-end forecasts
- Production of financial reports for all stakeholders
- Completion of financial returns, including EFA Budget Forecast and Local Authority monitoring returns
- VAT returns
- Production of user-defined reports
- Cash flow forecasts
- Year-end closedown
- SIMS FMS day-to-day transactional support
Contract based Bursarial Services
A package of Bursarial Support Services tailored to the School’s individual requirements. A typical Service Level Agreement (SLA) might include but is not limited to:
- Development of an annual and five year budget plan using HCSS Budgeting - HCSS Education's market leading budget planning software, including a half-termly update of the plan.
- Reconciliation of payroll costs.
- Monthly review of income and expenditure and the subsequent production of a set of monitoring reports suitable for presentation to School leaders and the governing body.
- Advice, support and mentoring for the Headteacher and finance staff on all financial matters.
Why choose HCSS Education?
- Could be used by Schools as a short term solution to cover staff absence, vacancies, etc.
- Could be used by Schools as a long term solution to supplement and strengthen the finance function.
- Bursarial Support Services that are delivered externally can provide School leaders and Governors with a greater level of internal control and assurances of independence and objectivity.
- Access to a network of support and advice from a leading education specialist including mentoring by experienced practitioners.
- All consultants have appropriate accounting qualifications and/or significant experience in the education sector. All consultants, including the Head of Service and the Managing Director, are former School/Academy practitioners.
- For ad-hoc Bursarial Services, the benefit of commissioning support on a ‘pay as you go’ basis means that the School does not have to enter into a binding agreement.
- For contract based Bursarial Services, discounts are usually applied to SLAs therefore more cost effective than support delivered on a ad-hoc/’pay as you go’ basis.
How much does this service cost?
If you are interested in finding out more about this service including pricing information please call us on 0845 345 3300 or make an enquiry using the online form.