Finance & Business Media
Implementing a culture of change
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We take a look at how schools are addressing questions of finance at every level
ast year's survey from the National College for Leadership of Schools and Children's Services (the National College) was the first of its kind to ask
more than 1,000 school leaders about the benefits of employing a School Business Manager (SBM). More than one in 10 primary head teachers (1%) who took part in the survey revealed that over half of their time has been freed up to concentrate more on their core duties – with one in three benefitting from 30% of their time being released. The nation’s primary schools have also reported financial rewards. The
research revealed that SBMs raise an average of £8,000 a year, and one in 10 more than £20,000 through sourcing new income streams – this in addition to making other significant savings. More recently, the National College revealed that the impact of school
business managers (SBM) goes "beyond budgets and balances and into the classroom." Although SBMs’ core duties relate to the administrative and financial aspects of running a school, it is an increasingly broad role that incorporates areas such as HR, procurement, premises management, and resource management, making the nation’s schools better places to learn. More than half of heads said their SBM has developed better quality premises (52%), over a quarter have seen improved teaching and learning resources (26%) and over one in six have seen more, or better quality, extra curricular activities (15%). The research also reveals how SBMs allow schools to engage with their
local communities. One in two head teachers said their SBM allows for greater community engagement (52 %), a quarter said their SBM allows the school to offer extended services to the local community (25 %) and two fifths have worked with local businesses to secure additional income streams (42%). Toby Salt, Deputy Chief Executive of the National College, said: “For years
independent schools have had a bursar who is a vital member of staff. As state schools increase their autonomy, they too need great school business
12 www.education-today.co.uk
support to liberate head teachers to lead their schools and provide teachers and pupils with the best possible resources for teaching and learning. That’s why we are increasing the number of school business managers and providing high quality training for them.”
Leading by example
It's not just schools that are benefitting from better financial management; pupils themselves are being taught to become more financially aware too. In the boom years, consumer debt hit record levels before the recession followed an already painful, credit crunch. And in a society where aspirational lifestyles spring from higher purchase agreements, many will be paying for their mistakes for years to come. The strength of the economy tomorrow, rests with the next generation today - which is partly why Ed Balls announced in November last year that personal, social, health and economic education (PSHE), which includes personal finance, is to become statutory from 2011. This means that all pupils from the age of 5 to 16 will be taught about handling money, savings and the financial skills they need as adults. The programmes of study, which outline the broad topics children will be
taught in the new financial education curriculum, will be consulted on later this year. According to the Personal Finance Education Group (PFEG), it will build on the My Money programme - a £10m financial education programme in schools, which is a key part of the Financial Capability Action Plan launched by HM Treasury and the Financial Services Authority (FSA) in July 2008 to help people manage their money effectively. It provides an integrated approach to personal finance education from when a child first starts school through to the end of secondary school. The programme, which is being managed by the Personal Finance Education Group (PFEG) on behalf of the DCSF, runs until 2011.
A symbolic step forward
On budget day this year, Ed Balls, Martin Lewis and Personal Finance
April 2010
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