Financial Management Services
ICS is proud to be in partnership with SAAF Education, independent providers of high quality tailored financial management services for schools, academies, free schools and multi-academy trusts.
SAAF has developed an in-depth knowledge of the education sector by helping schools and academies to thrive under increasing financial pressures and to plan for the future. As a result, they understand precisely which tools will most effectively ease those budgeting burdens and facilitate smooth financial management.
SAAF Education can provide support and training on all accounting software packages. They are the only accredited ‘PS Financials’ support partner in the Midlands region.
As well as finance support SAAF also provide a dedicated payroll bureau, asset management service, internal audits, financial health checks and supply service to source quality teachers and support staff for the education sector.
Financial Health Checks
Financial Health Checks are a valuable service for both schools and academies. Health checks allow headteachers and the governing body to evaluate their expenditure and help them produce a plan-of-action for the future so that they can use their budget more efficiently.
Initial financial checks include a minimum 2-day on-site visit, plus a written report which will be produced offsite and are available to maintained schools, academies, multi-academy trusts and free schools. Our consultants will check your financial systems and processes to advise on efficient procedures and identify if any finance training is required.
This would include a review of:
- Financial strategy
- Levels of spend on different areas of the curriculum
- Workforce planning & financial systems (Including forecasting, compliance, reporting and governance)
- Current and 3-5 year budget position and multi-year planning to ensure revenue & capital funding are utilised correctly.
- The leadership team and governing body’s understanding of the budget, funding streams, financial process & reporting.
For Multi-academy trusts we can review additional areas, for example:
- Use of top-slice revenue
- Assessment of the efficiency of central office functions
- Evaluation of any proposed growth trajectory
All reviews & reports can be tailored to a customers’ specific needs. Our report based on the initial review will address specific budget pressures and include recommendations to maintain or improve standards.
We can provide a further 3-5 days’ consultancy to carry out action planning sessions to identify appropriate ways to address specific financial budget pressures, highlighted in our report.
This can include, but is not limited to:
- Financial pressures (e.g. deficit, pupil numbers, restructuring)
- Review of budget management/strategy
- Reporting and governance
- Capacity building
- Curriculum led financial planning
- 3-5-year budget planning
- Staffing structures & workforce efficiencies
Following the strategy & action planning sessions, we can provide in-depth operational support to deliver any changes that have been identified.
For inquiries please use our Quick Contact form and we will get you in touch with the SAAF team.
“The service provided by SAAF has been outstanding. I have always been impressed with the level of integrity shown, which has been the basis for our effective working relationship. The consultants understand that schools are complex organisations whose main priority is the education of the students. Their technical knowledge is excellent, and the tools they provide have been developed to enable budgeting and reporting to a very high standard. I can recommend SAAF without any reservations whatsoever”
Principal, Nottingham Secondary Academy