We recently worked with a school who were seeking help with its finances. The management team had completely lost track of the budget and had no idea about the state of their finances. All they knew was that there was not much money left in the bank, and they urgently needed help to find more before it was too late.
Our professional financial consultants analysed the school’s business strategy by reviewing its profit, losses and balance sheets. Next, we looked at a breakdown of the staff schedules to see how many hours they worked and how they spent their working hours. We realised that the school could save hundreds of thousands of pounds by reducing the time staff spent on non-teaching activities by conducting a complete overhaul of staff schedules.
Once we refined staff schedules, the management team saw a huge improvement in their finances and bottom line. We worked with the management team to create an ongoing profit/loss analysis and balance sheet. We now present the financial projections to the school’s governors every quarter. Our analyses offer accurate financial insights into the budget, allowing governors to make informed strategic decisions.