Finance Service
The Service Offer
Subscription Services
Buy as You Need Services
Subscription services
This service provides:
- The allocation of a named Finance Offer to work with your academy
- The standard use of our Budget Planning Software. This provides you with access to accurate, consistent and up to the minute data whenever you need it, It provides you with all the tools required to produce 5 year financial forecasts and scenarios, a 'quick calculator' for estimating staffing costs as well as a secure document store for your academy's financial reports and other relevant documents. (The Enhanced BPS option enables you to maintain and update all of your data locally - this is available at an additional cost).
- The production of a strategic multiyear financial plan and financial support through one 3 hour visit per term and a written report to governors following each visit
- Telephone and e-mail support
- System support for academies using SIMS FMS.
We will meet with you at the start of the year to agree the activities that will be included.
This service provides:
- The allocation of a named Finance Offer to work with your academy
- The standard use of our Budget Planning Software. This provides you with access to accurate, consistent and up to the minute data whenever you need it, It provides you with all the tools required to produce 5 year financial forecasts and scenarios, a 'quick calculator' for estimating staffing costs as well as a secure document store for your academy's financial reports and other relevant documents. (The Enhanced BPS option enables you to maintain and update all of your data locally - this is available at an additional cost).
- The production of a strategic multiyear financial plan and financial support through two 3 hour visits per term
- One termly written report to governors
- Telephone and e-mail support
- System support for academies using Corero or SIMS FMS
- One additional service per term from a list of financial support vaialble from your finance officer.
We will meet with you at the start of the year to agree the activities that will be included.
This service is tailored to meet your individual needs and can include:
- The allocation of a named Finance Offer to work with your school.
- The standard use of our Budget Planning Software. This provides you with access to accurate, consistent and up to the minute data whenever you need it, It provides you with all the tools required to produce 5 year financial forecasts and scenarios, a 'quick calculator' for estimating staffing costs as well as a secure document store for your academy's financial reports and other relevant documents. (The Enhanced BPS option enables you to maintain and update all of your data locally - this is available at an additional cost).
- The production of a detailed multiyear financial plan
- Financial support through visits, telephone and e-mail
- System Support for either SIMS or Agresso.
- 10 monthly 3 hour visits per year
- Written report to governors following each visit.
The AcademyBPS Budget Planning Software provides you with access to accurate, consistent and up to the minute data whenever you need it.
It provides you with all the tools required to produce 5 year financial forecasts and scenarios, a ‘quick calculator’ for estimating staffing costs, maternity costs as well as a secure document store for your academy’s financial reports and other relevant documents.
The Enhanced Option enables you to maintain and update all of your data locally and can be purchased at an additional cost.
For academies using the SIMS FMS system that require a more light-touch level of support, the Telephone and Email Support Service provides you with access to a helpline.
System upgrades and guidance on new functionality are included.
We will support you to complete VAT126 or Registered VAT returns and to produce reports tailored to your management accounting requirements.
For academies using the SIMS FMS system that require a more light-touch level of support, the Telephone and Email Support Service plus a Termly Visit provides you with access to a helpline as well as a face to face visit per term for assistance, training and support. The visit focuses on reports including reconciliation to the audited accounts, in accordance with external auditor's instructions. System upgrades and guidance on new functionality are also included.
We will support you to complete VAT126 or Registered VAT returns and to produce reports tailored to your management accounting requirements.
Section 3.5 of the Academies Financial Handbook requires every Academy Trust to have a process in place for independent checking of financial controls, systems, transactions and risks.
Our Internal Audit Basic Service provides:
- Advice and guidance on financial oversight, planning, internal controls, financial management and monitoring arrangements.
- A termly visit to undertake practical transactional testing and review of processes in your academy.
- An internal audit report to Governors highlighting any areas of concern and with relevant recommendations and action plan.
Section 3.5 of the Academies Financial Handbook requires every Academy Trust to have a process in place for independent checking of financial controls, systems, transactions and risks.
Our Internal Audit Enhanced Service provides:
- Advice and guidance on financial oversight, planning, internal controls, financial management and monitoring arrangements.
- A termly visit to undertake practical transactional testing and review of processes in your academy.
- An internal audit report to Governors highlighting any areas of concern and with relevant recommendations and action plan.
- Appropriately adapted policies and procedures for the governing body to discuss and adopt delivered as an additional visit. This will enable the Academy Trust to meet the requirements of Financial Management and Governance Self-Evaluation (FMGS).
This service offers schools an experienced member of the schools finance team on a weekly basis to undertake the routine financial processing of the schools financial activities for your academy.
This service offers schools an experienced member of the schools finance team on a fortnightly basis to undertake the routine financial processing of the schools financial activities for your academy.
We will set up the SIMS FMS Asset Register module at your academy on your behalf.
The AcademyBPS Budget Planning Software provides you with access to accurate, consistent and up to the minute data whenever you need it.
It provides you with all the tools required to produce 5 year financial forecasts and scenarios, a ‘quick calculator’ for estimating staffing costs, maternity costs as well as a secure document store for your academy’s financial reports and other relevant documents.
For academies purchasing other services from Finance, this service is available as a stand-alone option.
We bring financial assurance to your academy plans. We understand academies need to establish priorities to achieve strategic objectives, and we help by working collaboratively with you to deliver best value from limited financial resources with the focus on building positive outcomes for learners.
Benefits
- Our financial planning helps you to meet the strategic objectives identified in your School Development Plan by setting budget priorities at the start of the year and working together to ensure that priorities are met and updated as required.
- We support you to carry out your financial management responsibilities effectively, ensuring financial compliance with all statutory obligations.
- We provide year round support with financial management, monitoring and reporting ensuring financial governance is at the foundation of your school improvement activities.
Why Buy
In today’s economic climate with budgets tightening and costs rising, effective financial management is an increasingly important part of your management activity. Our long history of supporting Warwickshire’s schools enables us to support you to optimise resources effectively and achieve outstanding outcomes for your learners.
Our service offer fully recognises the different needs of academies and the financial obligations of a limited company with charitable status. We provide practical and workable solutions specifically tailored to your requirements. Our wide range of services mean we can support you at a high level through the provision of a Business Manager or Bursar Service right through to supporting and empowering your own business managers and finance staff to carry out tasks. Services are delivered by academy Finance Officers with appropriate qualifications, training and experience to provide guidance and advice in academy finance
The Effectiveness of our Service
- 96% of reports for Head Teachers and Governors are provided within 5 days of meetings.
- 100% of all requests for costing information are provided within 5 days of receiving the request
- 100% of telephone and email queries are responded to within 5 days of receipt
- 100% of delegates rate our financial management training courses as good or excellent.
Tailored Services
Our services are flexible and can be tailored to meet your individual needs – please contact us if you would like to discuss arranging a tailored package for your school.
