Financial excellence ensures a financially sustainable operating model supported by clear and consistently applied principles, processes and procedures enabling the Trust to achieve its main strategic priorities of educational excellence, growth and consistency.
Streamlined and effective processes and systems (finance, budget)
Skilled (CPD) and respected service delivery focussed finance team providing professional and expert advice and challenge
Financially agile taking advantage of opportunities which have a positive impact on pupils.
Financially sustainable now and in future making best use of available resources.
Clear understanding of financial risks associated with future plans (including growth ambition), decisions and any mitigation strategies.
Ability to make confident decisions impacting on pupil outcomes and experiences supported by transparent data (including clear KPIs)
Robust budgets - sound assumptions; rigorous stress testing
Ensuring make best use of resources available – cost savings, efficiency, procurement
Understanding of context and challenges in schools and impact on financial position
Clear understanding of risks impacting cash and reserves + mitigation strategies
Fairness and equity in deploying resources (collective resourcing)
Timely, accurate and meaningful reporting enabling confidence in decision making
Clear, transparent financial information which is widely shared and readily understood
Link curriculum planning with available resources (embedded ICFP)
Efficient & Effective Processes – process “fix” workshops to identify process improvements within key processes, stakeholder engagement for change
Robust Systems (including finance, budgeting, cashless in schools)
Proactive, highly skilled – right skills; drive service excellence – seek service feedback
Centralised team, academies focus on teaching & learning
CPD, succession planning, progression, talent management – gap analysis
Communication and relationship building, critical friend
Agreed reserves policy – minimum level & investment priorities above
Treasury management policy – risk vs reward (invest surplus cash)
Clear strategy for income generation and growth
Horizon scanning for opportunities and threats
ATH compliance
External audit & internal scrutiny