Preparing For an SRMA Visit

As an SRMA, Sharon Marsh has had the opportunity to work with a variety of schools and trusts, some finding the preparation easier than others

Some staff that I encounter are not really sure of the purpose of the visit, or what sinister outcome we might be looking for.  This leads me to having explain that the visit should be seen in as a critical friend being invited in to give a supportive view.  Obviously, there is lots of information that we need to be able to carry the review out in an effective and efficient way, but behind it is a desire to help schools to provide the best outcomes they can for their pupils, family and staff.

To ensure a productive and effective SRMA visit, we require the following from schools, encompassing both practical arrangements and a collaborative mindset focused on resource management:

Financial Documentation and Information Access:

• Budget Plans: Current and previous financial year budget plans including income and expenditure forecasts each covering 3 – 5 years so that we can see 2 previous years and 2 years into the future
• Management Accounts: Up-to-date management accounts including income statements, balance sheets, and cash flow forecasts
• Detailed Expenditure Breakdown: Information on significant expenditure areas (eg staffing costs, premises costs, ICT) most SRMAs will send through a breakdown of what we need
• Income Streams: Details of all income sources including grants, pupil premium, and locally generated income
• Staffing Structure and Costs: Detailed information on staffing structures, salary scales, and associated costs (including pensions and NI)
• Procurement Information: Policies and procedures for procurement including tendering processes
• Asset Register: A comprehensive register of school assets
• Governor Finance Committee Minutes: Minutes of governor finance committee meetings demonstrating their oversight of financial management
• Benchmarking Data: Any benchmarking data the school uses
• Capital Expenditure Plans: Any plans for significant capital projects and their funding
• School Improvement: The school improvement plan and how it is resourced financially
• Relevant External Audit Reports: Any recent audit reports
• Contracts and Service Level Agreements: Key contracts with external providers

Operational Documentation and Information Access:

• Staffing Policies and Structures: Information on staffing policies, deployment, and any restructuring plans
• Curriculum Delivery Models: Information on curriculum delivery and associated resource allocation
• Premises Management Information: Information on premises maintenance, energy consumption, and any planned improvements
• ICT Strategy and Resources: Information on the school’s ICT strategy and associated costs
• Pupil Numbers: Current and projected pupil numbers and relevant demographic information

Logistical Arrangements:

• Dedicated Meeting Space: A quiet and private room suitable for interviews and discussions with key staff
• Access to Key Personnel: Availability of the Trust CEO, CFO, COO or School Headteacher, SBM (or equivalent), and the Chair of Governors (or a governor with finance responsibilities) for interviews
• Time Allocation: Sufficient time allocated within the school day for interviews and document review
• IT Access: Access to a computer and internet if needed to review electronic records

Communication:

• Clear Point of Contact: A primary contact person for all communication related to the visit
• Timely Responses: Prompt responses to requests for information or clarification
• Briefing of Staff and Governors: Ensuring relevant staff and governors are aware of the visit and its purpose

Mindset and Approach:

Beyond the practicalities, a positive and open mindset is crucial for a valuable and impactful SRMA visit. We are looking for:

• Transparency and Openness: A willingness to share financial and operational information honestly and openly
• Collaboration and Engagement: A proactive approach to engaging with the review process viewing it as an opportunity for improvement in resource management
• Reflective Practice: Evidence of ongoing self-reflection on resource utilization and financial sustainability
• Focus on Value for Money: A demonstrable commitment to ensuring value for money in all areas of expenditure and resource allocation
• Understanding of the Purpose: An understanding that the SRMA visit is intended to support the school in optimizing its resources to improve educational outcomes for students
• Willingness to Learn and Develop: An openness to receiving feedback and considering recommendations for improvement in financial and operational efficiency
• Honesty and Self-Awareness: A realistic assessment of the school’s financial strengths and areas where challenges exist
• Respect for the Process: Respect for the time and expertise of the adviser and a commitment to engaging constructively with the process
• Commitment to Financial Sustainability: A clear understanding of the importance of long-term financial sustainability for the school

We need both the practical financial and operational data to effectively review a school or trust’s resource management and a collaborative, reflective mindset that fosters open dialogue and a shared commitment to optimizing resources for the benefit of the students. We are here to support you in strengthening your financial planning and resource management practices.