×

SOUTHEAST FINANCE NEWS

Friday September 30 2016

South East Schools in Financial Crisis, new study shows


Half of schools and academies in the South East funded unfairly, says new research



South East Schools in Financial Crisis, new study shows

Schools and academies in the South East are under intense financial pressure according to new research, with 55% of leaders here believing their institution is unfairly funded compared to others across the country.

 

A study of school leaders conducted this month by HCSS Education, a leading education finance specialist, found that for almost two thirds (61%) of schools and academies, managing budgets has become significantly more difficult while 61% say budgeting is the main pressure they face as a leader.

 

When asked about balancing the books, three quarters of schools and academies in the South East (75%) admitted to dipping into financial reserves in the past three years.

 

The vast majority (88%) of school and academy leaders in the South East also said the current flat funding structure has impacted their pupils, with staffing cuts being the top contributing factor.

 

In a bid to make school and academy funding fairer, the Government has committed to implementing the national funding formula (NFF) from 2018-19. It will see some schools receiving increased funding but others facings cuts. When asked about this, half (50%) of school leaders believe the NFF is the most effective way to address financial issues in schools and academies. Nearly half of  schools and academies in the South East (47%) anticipate a decrease in funding when the policy is introduced.  

 

Howard Jackson, head of education and founder of HCSS Education, said: “School and academy leaders in the South East are really feeling the effects of increasing costs and uncertainties over future funding. Around half of them have experienced a budget deficit in the past three years and many believe budgetary pressures are impacting their pupils.

 

“We spoke to leaders from all corners of the country and worryingly the vast majority said they were concerned about the future finances of their school or academy. At the same time, there are steps budget managers can take to forecast robustly and plan ahead effectively. To make this easier, there are a number of financial management tools available that have been specifically designed for the education sector to help school leaders effectively manage their budgets.”

 

HCSS Education has released this new research to mark the launch of its innovative new accounting software which is currently being used by over 120 schools and academies across the UK. Launched earlier this month, HCSS Accounting is the first completely online accounting package designed solely for the education sector. The cloud-based software allows users access from anywhere, at anytime, and it’s been developed to be extremely easy to use, so no prior accounting training is needed.

For more information, please visit http://www.hcsseducation.co.uk/software/hcss-accounting



"School and academy leaders in the South East are really feeling the effects of increasing costs and uncertainties over future funding."
Howard Jackson, head of education and founder








DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.







Entirely Finance Jobs


Finance Assistant

Brighton


Finance Assistant / Brighton / Finance / Accountancy / Contract Client Details A leading business based in the Brighton region are seeking a Finance Assistant for a 6 month fixed term contract.




Senior Finance Manager

Wokingham


Reporting into the Finance Director, the Senior Finance Manager will have a broad range of responsibilities giving them great exposure across this household brand business based in Wokingham.




Finance Analyst

Hampshire


We are recruiting on behalf of a niche manufacturing business in North Hampshire who is currently seeking a Finance Analyst to join their established finance department.




Transactional Finance Manager

Cowley


We are working alongside an international technology business who specialise in the leisure industry based in Uxbridge who are looking to hire a Transactional Finance Manager.




Part-time Bookkeeper / Finance Co-ordinator

Waterlooville


An excellent opportunity has opened up with a friendly company in Waterlooville, who are looking to recruit an experienced Finance Assistant / Co-ordinator.




Finance Business Partner

Hatfield


Finance Business PartnerHatfield, Hertfordshire£60,000 - £70,000 + benefitsA great opportunity has become available with a leading online retail technology client based in Hatfield for a financially strong Finance Business Partner to join their team to support a key new external partnership.




Finance Assistant

Tunbridge Wells


Excellent opportunity to join an incredibly reputable company in the heart of Tunbridge Wells.




Finance Manager

Broxbourne


Reed Finance are working with a successful and fast growing organisation in the Broxbourne area who are recruiting for a Finance Manager to join their established team.




Finance Manager

St. Albans


This is a fantastic opportunity to join a reputable company based in St Albans who are looking to recruit a newly created Finance Manager role.




Finance Analyst

Slough


Commercial Finance Analyst - Slough - £33,000 to £37,000 per year Our client is an International Tech Firm who are currently recruiting for a Commercial Finance Analyst based from their offices in Slough.




Senior Commercial Finance Analyst

High Wycombe


An exciting opportunity has arisen for a Senior Commercial Financial Analyst to join a well-known consumer lead business in High Wycombe.




Finance Business Partner

Oxfordshire


The Finance Business Partner is an excellent opportunity to join a growing finance function within the Oxfordshire area.




Commercial Finance Analyst

Southampton


The role is an analytical role focusing on the credit side of the business.




Finance Manager

Leighton Buzzard


Background:We are supporting a global business with a highly ethical and sustainable business model in the area.




Business Development Manager - Marine Finance

Southampton


Business Development Manager - Marine Finance South Coast UK £50,000-£55,000 Basic plus excellent Bonus and Benefits We are working on a Broker & Dealer Manager vacancy with a highly prestigious Bank.




Senior Finance Business Partner - Commercial Finance

Watford


A FTSE listed oganisation based in Watford, Hertfordshire are looking for Qualified Accountant to join their business as a Senior Finance Business Partner on a permanent basis within their Commercial Finance function.




Finance Assistant

Brighton


Finance Assistant / Brighton / Finance / Accountancy / Contract Client Details A leading business based in the Brighton region are seeking a Finance Assistant for a 6 month fixed term contract.




RECOMMENDED FOR YOU ON ENTIRELY SOUTH EAST










Bracknell pub reopens with a fresh new look


As part of the investment, the Silver Birch Greene King, on Liscombe, has undergone a total refurbishment, including the introduction of a lighter colour scheme which incorporates tiled walls, signature pieces of furniture and fresh, contemporary flooring







































Discover the latest Industry News & Opinions on Entirely














We build powerful Financial Models for critical business decision makers.