Contact us

SAAF Education Blog: Financial Insight Tools for Academy Trusts

Financial Insight Tool for Academies

Financial Insight Tools for Academy Trusts

A new benchmarking tool has been released by the DfE, my financial insight tool, which will enable academies to compare their financial performance with 30 most similar schools (based on either pupil characteristics or premises characteristics) in order to analyse data from nine cost categories. The data has been provided from the benchmarking data submitted by trusts in their 2018 to 2019 accounts returns.

The cost categories are:

  1. Teaching and teaching support staff
  2. Non-educational support staff and services
  3. Educational supplies
  4. Educational ICT
  5. Premises staff and services
  6. Utilities
  7. Administrative supplies
  8. Catering staff and supplies
  9. Other costs

The tool uses financial data to identify areas for further investigation in either individual academies or across a MAT. The tool also includes links to advice, guidance and frameworks that the DfE provide as part of their commitment to supporting academy trusts in effective financial management.

Trusts can access their pre-populated school resource management self-assessment tool form within the portal.

The tool includes areas of analysis including:

  1. Top 3 areas to investigate
  2. Trust dashboard with RAG rating
  3. Academy dashboard with RAG rating
  4. My comparator academies
  5. Commercial resources

Anyone in the trust with an IDAMS account can access the new tool through the View your education data portal.

If you require support with this

SAAF finance consultants can provide support to help you understand the data and plan for improvements if necessary.

Find out how we can help

 

Related Articles:

Financial Benchmarking and why you need it

Free Finance System Review

Generating Income and Cutting Costs

<  Back to Blog


Finance-consultants.jpg

Subscribe to our blog for the latest updates & news

RECENT POSTS