What we can offer
We offer a wide range of services but primarily we could be your virtual Chief Financial Officer supporting the finance function. This is done in the following ways:-
- Due diligence – most important when schools are looking to join multi academy trusts to ensure there are no nasty surprises after joining.
- Pre conversion support – there are a number of new reporting requirements and challenges for schools when becoming an academy. There are tight deadlines after becoming an academy, and we look to provide the school with the right level of support to ensure they have the right tools to deal with the issues that arise whilst meeting deadlines.
- Post conversion support – those academies that have recently converted (or even those who did so a while ago) may find they are lacking the specific skills needed to adhere to the new requirements of being an academy. We can help to boost the finance function of schools through support, training and assistance on how best to run this function.
- Advice on accounting software – through preferred established suppliers we are able to provide support and guidance on how best to run your finance function using the software solutions appropriate for you.
- Advice on tendering – many academies struggle with this and we can help outline systems and controls to ensure that the tendering process runs smoothly ensuring that value for money is achieved.
How we work
We have a team of five consultants available including one of our partners and a senior manager dedicated to this sector, who would be able to come to your premises and assist right away. We offer a time based service and we would outline the work we do and estimate how long it will take to complete the tasks by the different members of staff. We then agree the price up front with you. Should you require any additional work we will be happy to quote for this.
Why we do it
The support, guidance and advice we give is designed to help meet the requirements of the EFA and the Academies Financial Handbook.
Timely financial controls and effective reporting highlight areas where efficiency savings can be made, and can help make funding go further.
What we have done
- Assisted in the finance function where a bursar has left.
- Successfully helped appoint internal auditors.
- Worked with external auditors to satisfy their needs.
- Prepared five years budgets and forecasts.
- Written financial regulations and procedures and helped implement them.
- Improved financial procedures.
- Reported to Boards of Governors on the progress of their plans.
- Suggested ways in which resources may be better utilised to improve facilities.
- Assisted with the preparation of financial Accounts prior to audit.