1. SCHOOL FINANCE – KEY PRINCIPLES Monday 2 nd June 2014

2. SCHOOL FINANCE – KEY PRINCIPLES INTRODUCTION

3. SCHOOL FINANCE – KEY PRINCIPLES Nicholas Grenfell-Marten Director of College Operations UWC Atlantic College

4. Nicholas Grenfell-Marten Bursar for 26 years Experience in maintained and independent sector / day and boarding Worked with 9 heads – and I’ve lost count of the deputies! Former Chairman of ISBA

5. SCHOOL FINANCE – KEY PRINCIPLES What do we plan to achieve today? –How to read management accounts –Understanding cash flow –Reading a balance sheet –Looking for the problems –Vocabulary of terms

6. SCHOOL FINANCE – KEY PRINCIPLES Schools as charities Profit vs surplus Loss vs deficit Reserves

7. SCHOOL FINANCE – KEY PRINCIPLES Management Accounts –Budgetary control Monitoring –Monthly or termly Reliability Circulation

8. Finance Management Accounts Dep Heads finance course - management accounts.xlsx

9. Finance – Cash flow Management accounts - section

10. Finance – Cash flow September January April August

11. Cash flow CASHFLOW

12. SCHOOL FINANCE – KEY PRINCIPLES Balance Sheet –Assets Fixed Current –Liabilities –Debtors

13. SCHOOL FINANCE – KEY PRINCIPLES Balance Sheet Balance Sheet example Atlantic College 2013 Accounts SOFA example Difficult balance sheet

14. SCHOOL FINANCE – KEY PRINCIPLES Debtors

15. SCHOOL FINANCE – KEY PRINCIPLES School accounting vocabulary –SORP –SOFA –Depreciation –Accruals –Revenue vs Capital –Cash flow

16. SCHOOL FINANCE – KEY PRINCIPLES More terms! –Fees in lieu of notice –Creditors / debtors –Reserves

17. Finance Questions?

18. Nicholas Grenfell-Marten njm@nicholasmarten.org www.nicholasmarten.org Tel. 07770234946