To support schools in becoming efficient and financially healthy the EFA have developed a financial health checks structure to help schools to identify what support they need. ESCC Finance team are on the EFA schools financial checklist supplier list and can carry out all aspects of the financial health check structure.
• The EFA advise schools and academies that having access to good financial advice and support is an important part of running an effective school. Schools can take advantage of this advice and support to help them review their current financial position, identify issues and take appropriate action to address them
• You've been absolute stars - you've told us EXACTLY what we've got to do. Can't thank you enough - we couldn't have done it without you – School Bursar
• I simply wouldn't have managed without the support, expertise, advice and patience of the Finance Support team. They have offered excellent training and helped grow my confidence. – Academy Business Manager
• I consider Finance Support to be excellent value – School Business Manager
Under the EFA Financial Healthcheck structure we can offer 3 levels of financial healthcheck:
1. Check 1: Review / develop capability- Short financial health check of schools’/ trusts’ current position to test if systems, skills and procedures could be improved and to aid longer term capacity development.
Help for schools/ trusts to review core financial management systems and skills, identify strengths, weaknesses and opportunities to improve overall financial capability and sustainability, and identify routes to upskill school staff on these areas.
2. Check 2: Investigate / prevent-Address specific issues or future budget pressures identified by schools/ trust whilst maintaining / improving educational standards.
Action planning with schools/ trusts to identify the most appropriate ways to address specific financial issues or future budget pressures, including practical ways to increase efficiency, financial capability/ capacity and pupil performance; and how to ensure impact is delivered when needed.
3. Check 3: Resolve / solution generation- In–depth support to plan and deliver change for schools/ trusts if in financial difficulty and/ or FNTI.
Action planning and in-depth support for schools/ trusts to address multiple issues relating to financial health and efficiency, including identification of specific actions to increase efficiency, financial capability, capacity and pupil performance, and balance budgets. For trusts in FNTI, identification of ways to address specific financial issues in the FNTI, and how/ when the actions will deliver the necessary impact to take trusts out of FNTI.
A full description of the financial healthcheck structure can be found on the EFA website https://www.gov.uk/government/publications/schools-financial-health-checks-supplier-directory_structure.pdf
Please contact the Schools Finance Team to discuss the options that are right for you.
As per FS02
Open and honest communication and cooperation with the finance team and a proactive, solution focused approach to the review will help you get the most benefit from your health check.
• We aim to provide high quality, value for money advice, support and training to schools. We are always up to date with changes in schools finance and deliver a prompt service.
• We closely monitor both the quality of the service and the team’s response times to all written and verbal queries.
• Our service is continually evolving to ensure that we provide you with the support you need. We will also consult you to find out what you think of our service and how we can improve it to meet your needs.