Financial Planning for Academies
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The HCSS Education team has developed a ‘Financial Planning for Academies’ © model that allows Academies to strategically link their School Development Plan to the financial budge over a five-year period.
To view the current marketing flyer, Click Here
The ‘Financial Planning for Academies’ software © has three key objectives:
To develop a five year projection of the academies financial position.
To be easy to manipulate so that when the academies situation changes the
financial impact is instantly recognised.
To have a range of user friendly reporting methods where the results are
accessible to financial specialists and non-financially minded stakeholders.
The software meets these objectives by leading the user through a series of screens to build up a comprehensive picture of the academies income and expenditure. A detailed 5 year strategic financial plan which is applicable for all academies can be developed with ease.
Acadamies throughout the country are currently using this software to:
Create short, medium and longer term budget plans.
Produce summary income and expenditure statements.
Report to governors, finance committees and the senior management teams.
Analysis of implications on the School Improvement Plan.
Perform sensitivity analysis on various scenarios.
The tool has now been developed to enable academies to benefit from the features listed above. It has been designed to be the best value product available to academies for financial planning and budgeting.
‘Financial Planning for Academies’ Software © - Features and Benefits
Easy to implement:
The model is straightforward to use and does not require any particular
spreadsheet skills or financial modelling expertise.
The user is guided through a series of worksheets to build up a
comprehensive picture of the academies income and expenditure.
These worksheets contain a large number of built in formulae, ensuring
maximum output from minimum input including DCSF
funding Formulae, Teaching and Support Staff pay calculators.
Reporting Capability:
Entries made in the income and expenditure sections feed through to
produce many financial reports including GAG1, GAG2, GAG3,
Benchmarking, and numerous Trend reports.
The series of graphs and charts produced means that trends can be
highlighted over the 5 year period including Pupil Projections, Teacher/Pupil
ratios and detailed Staffing Analysis.
Designed to help communicate data in an easy to understand, user friendly
format, suitable for Finance Directors, Bursars, Senior Management Teams,
Governors and other key Stakeholders.
Easy to Manipulate:
Data can be quickly and easily manipulated to examine various scenarios in
financial terms. The immediate financial impact of any change in the data is
shown in a range of graphs and charts.
Helps to avoid costly mistakes which could arise in other budgeting methods
Salary calculators for teaching and support staff are included, enabling
accurate and detailed figures to be produced in a fraction of the time this task
usually takes.
