Financial Consulting

BCS is a leading provider of financial consulting to the independent schools' sector. Tim Baines has been the lead author of the Financial Benchmarking Survey since its inception in 1997 and has been the UK's leading schools' auditor for the last 10 years. Tim has provided financial consultancy advice across a wide range of skill areas - from business planning to KPI development, surplus improvement projects to bursary reviews. Details of our Financial Consulting services are below.

Business Planning

Business Planning

With growing pressures on school finances many schools are reviewing and revising their business plans and are wondering how optimistic they can afford to be on pupil numbers, fee increases and capital projects. Schools need better financial models which have good sensitivity analysis and show the links between surpluses and cash-flows. They also want to be able to benchmark their assumptions and get informed independent advice to both support and challenge their plans.

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Financial KPI’s for schools

Financial KPIs for schools

With growing pressures on school finances many schools are looking to improve the management information they prepare and have available to support senior management and governor decisions. This inevitably leads to questions such as what are the most important KPI’s for our school, how do we measure our comparative performance against peer schools and what is best practice in reporting?

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Improving the bottom line

Improving the bottom line

With growing pressures on school finances many schools are looking to improve their bottom lines, either by raising income or by reducing costs. This inevitably leads to questions such as how do our fee levels sit in the market, how many bursaries should we give, how does our pay compare and how high are our overheads? Schools also want to know what is realistic in terms of generating new income from fundraising or trading.

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Bursary department effectiveness reviews

Bursary department effectiveness reviews

Schools are always looking to improve the effectiveness of their operations and on occasions schools choose to examine the way their bursary department operates. Is it over or under staffed, is work allocated properly, are the team suitably qualified and skilled and is any unnecessary work being carried out? Furthermore, is the bursary providing an effective service to the governors, the senior management team and the wider school community?

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