Financial Management Services to Schools

The Financial Management Services to Schools Team provides high quality financial management advice, guidance and support to schools. The Team employs professionally qualified staff with high levels of finance and accountancy skills and experience. The Team has been established for over twenty years and offers a unique blend of professional financial services together with an expert knowledge of school financial and resource management.

The Financial Management Services to Schools Team offers support, advice and guidance to schools on all aspects of the management of their financial resources. The Team aims to provide high quality, responsive, professional services which are packaged to fully meet the individual financial management support requirements of each school. The services provided by the Team include:

  • Preparation of annual budgets
  • Preparation of long term financial plans
  • Management of school balances
  • Production of regular budget monitoring reports
  • Guidance to achieve compliance with recommended standards in school financial management
  • Guidance to achieve compliance with the principles of Best Value, including the use and interpretation of financial benchmarking information.
  • Financial year end reporting and reconciliation processes

The services provided by the Team are packaged under a number of different service options which are designed to offer schools flexibility in the level of service they purchase to complement their in-house skills. The service levels offered are:

  • Bursar Services (either full or partial service)
  • Advice and Consultancy Services (based on the purchase of an annual number of hours determined by the school to assist in-house staff with the various financial management tasks required within school. Service subscribers also have access to a helpline service and financial planning software)
  • Helpline and Financial Planning Software Service
  • Financial management training for school staff and governors

In addition to the school financial management support service, the FMS Team also provides offers:

  • An in-house operated NYCC Staff Absence Insurance Scheme
  • NYCC financial benchmarking information for schools
  • School Business Management Support Services

What are the benefits of buying services from the FMS Team?

  • Services are delivered by professionally qualified staff with high levels of experience and understanding of the financial management requirements of schools.
  • Service option flexibility to complement individual school requirements
  • A unique opportunity for early insight into local and national school financial management developments.
  • Continual high levels of school customer buy back and satisfaction achieved with the services provided by the FMS Team
  • Continuity of service provision in the event of staff absence or vacancy
  • Consistent service standards with effective performance management and service quality monitoring
  • Service monitoring and developments overseen by the school representatives on the JDP Traded Services Panel and the Staff Absence Insurance Board.

Find out more

Visit SmartSolutions online to find out more.

If you already subscribe to our service you should login to see additional material.