Beta This is a test version of the layout of this page. Take the survey to help us improve it
Schools financial efficiency: a guide to getting started
- Education Funding Agency
- 12 January 2016
- Applies to:
Information for schools about how to develop an approach that achieves greater financial efficiency.
The table below outlines a simple process schools may wish to use when looking to improve their financial efficiency, to help schools achieve a greater impact on pupil outcomes from their resources.
It sets out the different tasks involved and suggests which available tools and guidance could be used to support completion of each of these. It is not intended to be prescriptive, but rather an initial suggestion for schools to adapt and improve as they see fit.
|Review||How efficient is my school?||Use the schools financial efficiency metric tool for an indication.|
|Investigate||Is my school spending more in certain areas compared to other similar schools?||Use financial benchmarking to find out.|
|Are there good reasons for spending more in certain areas?||Discuss with those responsible for the area of spend.|
|Gather detailed information on the area and determine if savings are possible.|
|Discuss within the senior leadership team (SLT) and governors to determine the best way forward.|
|Resolve||Develop solutions to improve levels of efficiency.||Consult similar schools to identify best practice.|
|Develop an efficiency plan.|
|Regularly review opportunities for greater efficiency (including reviewing best practice, alternative providers etc).|
|Use schools financial efficiency tools and support for ideas.|
Questions, comments or suggestions
We’d like to hear from you if you have any questions, comments or suggestions about this page or any of the schools financial efficiency content. This includes how we can improve the content and what other materials you would find helpful.
If you are an academy, local authority or post-16 provider, please use the EFA enquiry form including schools financial efficiency in the subject title.
For all other institutions, including maintained schools, please use the DfE enquiry form including schools financial efficiency in the subject title.
Published: 12 January 2016
From: Education Funding Agency