At SIPS, the core purpose for existence is to help schools by offering high-quality specialist support services. April 2018 marked the launch of the Finance Support Service as a further way to assist our customers.
Customers benefit from professional advice and support tailored to Primary and Secondary schools (maintained and academy) working with the Senior Leadership Team (SLT) Senior Leadership Team typically including Head Teachers, Finance Directors, Business Managers, and Governors.
The unrivaled service offered by SIPS includes helping to plan and set realistic budgets, providing an outturn forecast to show the estimated year-end position, help with producing three to five-year projections, detailed monitoring of the budget and managing the schools’ cash flow. Transactional aspects such as payroll, preparing VAT returns, reconciliation of the bank accounts and assistance with DfE statutory returns are also key areas.
Detailed monitoring reports are produced after consulting with the schools SLT and presented to the governing body at Finance & Staffing meetings. The purpose of the report is to highlight any significant variances, potential savings and report a projected outturn position. The monitoring reports are produced by using the Access Education Budgets software, which is provided and supported by SIPS.
Should you want to know more, please do get in touch.