Financial auditing can be an incredibly stressful process, but with the right guidance and preparation it can be an easy, efficient and stress-free process. SAAF have been completing internal audits and external audit preparation support for academies and MAT’s for over 7 years, so we thought it was time to share our expertise!
The auditing process can be a time consuming and daunting task; you may not look forward to an external company rifling through your paperwork and potentially highlighting issues with your processes. However, audits are an essential financial management tool to ensure your school, academy or MAT is running as effectively as possible and should be encouraged and embraced.
For several years the School Financial Value Standard (SFVS) has been a mandatory return for all maintained schools. The ESFA has now released an updated school resource management self-assessment tool which is an equivalent return that all single academy and multi academy trusts must complete and submit by Thursday 14 November 2019.
The Condition Improvement Fund (CIF) has an annual bidding round for single academies, small multi- academy trusts and sixth form colleges, to apply for grant funding to support with improving the conditions of their facilities and ensuring that buildings are safe and fit for purpose. This funding is available annually and bids are submitted between October-December. The CIF has previously addressed numerous health and safety issues in various academies and sixth form colleges throughout England.
It can often be a difficult and lengthy process for schools to gain access to new funding. If you’re looking for additional funding for a development project, we can assist you. Using the expert knowledge and experience of our grant finding partner, we can help you secure funding to suit your needs.
In previous years, the bidding round for the Condition Improvement Fund (CIF) has opened around October half term and closes just before Christmas. If you wait until the bidding window opens, it doesn’t leave much time for you to plan your project and write a successful bid. Why not start now?
If you are a standalone academy or a small multi-academy trust do you know how to apply for the funding? Do you know why you should apply for the funding?
If not, then read on, SAAF Education will answer everything.
It’s no secret that schools, academies and trusts face an onslaught of challenges to balance their budgets. If it’s not a cut in funding, it’s an increase in costs.
Even the most successful educational establishments in the country still have trouble facing the constant financial threats, so how do they manage to stay afloat and escape deficit?
With the deadline to implement the General Data Protection Regulation (GDPR) coming closer, it is important that you put strict procedures in place to ensure all your data is protected. This is important for the both the data your share with your suppliers and the data you process in the office.
To help you do this, we have put together a list of things to check with your suppliers and the school office.