Maximising school and trust resources: managing financial and physical assets
Information about the range of support available to schools and trusts to maintain, improve and use their financial and physical assets effectively.
Applies to England
Overview
We are committed to ensuring that schools and trusts can unlock greater value from their financial reserves and physical assets to improve outcomes for pupils. Many schools and trusts hold significant under-utilised assets. By reviewing how these assets are managed, schools and trusts can identify opportunities to reinvest savings into frontline provision.
This page brings together tools and guidance from the Department for Education (DfE) to support schools and trusts to maximise the use of their assets.
Use reserves in pupils’ best interests
Schools and trusts are required to make sure that reserves are used in the best interests of their pupils and that the amount is within a reasonable benchmark, with the excess invested.
Improve banking arrangements to maximise returns
You should explore opportunities to maximise returns through your banking arrangements. Review your current bank and saving accounts, cash reserve locations and interest rates available to establish where or how investment returns may increase.
Use DfE’s Banking comparison tool to help you compare the interest rate and associated return from current banking arrangements with products available to you in the market. The tool enables you to see the potential interest that could be earned from using alternative products.
More information is available on DfE’s Get help buying for schools to support you to identify where there is potential to secure better value and release cash back into your budget to invest in children and staff, including for things like teachers’ pay.
Manage your school estate effectively
The School estate management standards outline best practices and processes for managing estates effectively. The standards bring together the key points of existing government guidance and are designed to support school leaders, trust leaders and estate managers to:
- prioritise projects
- comply with legal requirements
- improve overall management practices
Use these standards to keep your school estate safe, well maintained and focused on supporting learning.
Create and deliver a climate action plan
The Sustainability and climate change strategy, published by DfE in 2022, sets out initiatives to help the education system meet the challenges climate change presents, including considering their approach to:
- climate education and green skills
- decarbonisation
- adaptation
- biodiversity
Use these free initiatives, commissioned by DfE, to support your planning:
-
Sustainability Support for Education is a digital platform with tailored resources to help settings take their first steps on their sustainability journey, or progress their ambitions to the next level
- sign up to the free interactive Action for Climate webinars by Sustainability Support for Education for support with using the digital platform and further information on all sustainability services offered by DfE
- Climate ambassadors and Let’s Go Zero climate action advisors offer expert support to help with planning and delivery of climate action plans
Useful links
School estate management standards
Good estate management for schools
Estate management: competency framework and relevant training
Good estate management for schools – Tools and checklists
Current accounts and savings accounts – Get help buying for schools