Finance Service
The Service Offer
Subscription Services
Buy as You Need Services
Subscription services
Our Financial Management Support Service - Standard includes:
- The allocation of a named academy finance consultant to work with your academy.
- The production of a strategic multi-year financial plan.
- Financial support through school visits.
- Telephone and e-mail support.
- Standard use of our Budget Planning Software. The Academy BPS 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 and if part of a multi-academy trust will provide you with the ability to have access to all academies within the trust from one secure location. It also offers the function of a ‘quick calculator’ for estimating staffing cost as well as a secure document store for your academy's financial reports and other relevant documents.
- System support for academies using SIMS FMS.
- One 3 hour visit per term.
- A written report to governors following each visit.
Our Financial Management Support Service - Enhanced includes:
- The allocation of a named academy finance consultant to work with your academy.
- The production of a strategic multi-year financial plan.
- Financial support through school visits.
- Telephone and e-mail support.
- Standard use of our Budget Planning Software. The Academy BPS 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 and if part of a multi-academy trust will provide you with the ability to have access to all academies within the trust from one secure location. It also offers the function of a ‘quick calculator’ for estimating staffing cost as well as a secure document store for your academy's financial reports and other relevant documents.
- System support for academies using SIMS FMS.
- Two 3 hour visits per term
- One termly report to Governors.
- One additional service per term from a list of financial support areas available from your academy finance consultant.
Our Financial Management Support Service - Enhanced Plus Service provides dedicated financial support to two linked settings, where both are managed by the same Academy Trust. The service includes:
- The allocation of a named academy finance consultant to work with your academy.
- The production of a strategic multi-year financial plan.
- Financial support through school visits.
- Telephone and e-mail support.
- Standard use of our Budget Planning Software. The Academy BPS 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 and if part of a multi-academy trust will provide you with the ability to have access to all academies within the trust from one secure location. It also offers the function of a ‘quick calculator’ for estimating staffing cost as well as a secure document store for your academy's financial reports and other relevant documents.
- System support for academies using SIMS FMS.
- Two 3 hour strategic visits per term.
Our Financial Management Support Service - Bursar Service includes:
- The allocation of a named academy finance consultant to work with your academy.
- The production of a strategic multi-year financial plan.
- Financial support through school visits.
- Telephone and e-mail support.
- Standard use of our Budget Planning Software. The Academy BPS 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 and if part of a multi-academy trust will provide you with the ability to have access to all academies within the trust from one secure location. It also offers the function of a ‘quick calculator’ for estimating staffing cost as well as a secure document store for your academy's financial reports and other relevant documents.
- System support for academies using SIMS FMS.
- 10 monthly 3 hour visits per year and is tailored to meet your individual needs.
Our Finance Business Management Support Service is tailored to meet your individual needs and can include:
- The allocation of a named academy finance consultant to work with your academy
- The production of a detailed multiyear financial plan
- Financial support through visits, telephone and e-mail
- System Support for SIMS FMS
- Weekly 3 hour visits during term time to cover strategic financial tasks for your academy
- Written report to governors.
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).
The Payment Processing Service is a service that offers schools an experienced member of the schools finance team to undertake the routine financial processing of the academy's financial activities at the school on a weekly basis.
The Payment Processing Service is a service that offers schools an experienced member of the schools finance team to undertake the routine financial processing of the academy's financial activities at the school on a fortnightly basis.
The SchoolsBPS Budget Planning Software Enhanced Option provides your academy with access to a web based financial planning tool, providing you with the ability to create 3-5 year financial forecasts and scenarios.
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 will set up the SIMS FMS Asset Register module at your academy on your behalf.
We will provide you with an audit of your Teachers' Pension Scheme.
We make it easier for you to deliver best value from limited financial resources by working collaboratively with you to bring financial assurance to your academy plans 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 through robust financial planning and budgetary control. We will support you to set budget priorities at the start of the year and work together to ensure that priorities are met and updated as required.
- We save school business managers and head teachers time and money by making the process of managing school finances quicker and more efficient.
- We offer technical and system support on a number of finance package, including the AcademyBPS Budget Planning Software, and our practical knowledge of SIMS FMS & Agresso enable us to offer an immediate cover service for payment processing should the need arise.
Why Buy our Service
In today’s economic climate with budgets tightening and costs rising, efficient and effective financial management is an increasingly important part of school management. Our long history of supporting Warwickshire’s schools enables us to support you to optimise resources effectively and make sound financial decisions that are at the heart of your academy's success.
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 consultants who hold appropriate qualifications, training and experience to provide guidance and advice in academy finance.
The Effectiveness of our Service
- 95% of governor approved staffing budgets are within 5% of the draft budget provided
- 99% of queries are resolved within 24 hours.
- 100% of delegates rate our training courses as either good or excellent
Our Specialisms
- Strategic financial planning
- Budget monitoring
- Technical system support
- Financial consultancy
- Internal audit
- Audit of Teachers' Pension Scheme
- Compliance with financial regulations
- Training and development
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.