Given the pressing concern of financial stability for many schools and trusts, it is essential for school business leaders to develop the skills necessary to approach budget conversations with confidence
With the recent election and a new government taking office, there is likely to be a sense of uncertainty among those in the education sector regarding the changes that lie ahead. This is especially true when it comes to finance and funding, areas where schools are already experiencing significant pressure.
Many schools are already facing challenges in managing their finances, balancing operational costs, and ensuring they can provide the necessary resources and support for their students. Moreover, educators are concerned about how shifts in government priorities might impact key initiatives, such as special education funding, teacher training programs and support for disadvantaged students.
Concerns Over Financial Stability
Recent reports indicate that just under 20% of schools and trusts view themselves as financially sustainable in the medium to long term. Approximately 40% are expressing concern about the financial strain caused by declining pupil numbers, while half report that the condition of their school buildings negatively affects the learning environment. Furthermore, 60% of governing boards now identify balancing the budget as their biggest challenge. This escalating pressure places an increased burden on school business managers, who must not only balance the budget but also strategically plan in an increasingly uncertain landscape.
The Need For Communication
This is further supported by a survey conducted by Strictly Education earlier this year, where MAT leaders identified education funding as one of their top three concerns. As a result, the need for effective communication and collaboration across the entire school regarding budgets is more crucial than ever. Although this can be challenging, especially for those without a financial background, presenting financial information to staff or governors doesn’t have to be a daunting task. With the right approach and tools, anyone can convey financial data clearly and confidently.
Building Confidence at EdExec LIVE
To empower school business leaders and enhance their confidence in presenting financial information, Kevin Parker will be delivering an informative talk titled “Getting Staff on Board with the Budget” at the EdExec LIVE event in Harrogate on 6th November. In his session, Kevin will share practical strategies for effectively communicating budgetary information to staff and governing boards, ensuring that everyone understands their role in the financial planning process.
With his wealth of experience, Kevin aims to equip attendees with the tools they need to navigate the complexities of financial discussions. Don’t miss this opportunity to learn from Kevin’s expertise and gain the confidence to engage your team in budget discussions!
Further information about our events can be found at edexeclive.co.uk
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