A new booklet about financial management for independent schools has been produced by the VRQA and Somerset Education.
Financial Management for Independent Schools provides information about factors that contribute to financial sustainability, common causes of financial stress, and methods for diagnosing the financial health of independent schools.
The effective operation of independent schools is underpinned by sound financial management. Sound financial management in schools requires a proactive approach to preventing, detecting and treating any signs of financial stress.
Download the Financial Management for Independent Schools (doc - 97.5kb) booklet.
Financial management information session
The VRQA held an information session about financial management for independent schools on 12 June 2014. The session was conducted by industry expert John Somerset and explored the factors influencing the financial viability and sustainability of independent schools and related governance practices. Over 80 representatives from 60 schools and sector organisations attended. Participants were surveyed after the session and feedback received has been extremely positive with 78% of participants extremely satisfied with the session.