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Monday 2 nd June 2014

SCHOOL FINANCE – KEY PRINCIPLES . Monday 2 nd June 2014. SCHOOL FINANCE – KEY PRINCIPLES . INTRODUCTION. SCHOOL FINANCE – KEY PRINCIPLES . Nicholas Grenfell-Marten Director of College Operations UWC Atlantic College. Nicholas Grenfell-Marten. Bursar for 26 years

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Monday 2 nd June 2014

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  1. SCHOOL FINANCE – KEY PRINCIPLES Monday 2nd June 2014

  2. SCHOOL FINANCE – KEY PRINCIPLES • INTRODUCTION

  3. SCHOOLFINANCE – KEY PRINCIPLES Nicholas Grenfell-Marten Director of College Operations UWC Atlantic College

  4. Nicholas Grenfell-Marten • Bursar for 26 years • Experience in maintained and independent sector / day and boarding • Worked with 9 heads – and I’ve lost count of the deputies! • Former Chairman of ISBA

  5. SCHOOLFINANCE – KEY PRINCIPLES What do we plan to achieve today? • How to read management accounts • Understanding cash flow • Reading a balance sheet • Looking for the problems • Vocabulary of terms

  6. SCHOOLFINANCE – KEY PRINCIPLES • Schools as charities • Profit vs surplus • Loss vs deficit • Reserves

  7. SCHOOLFINANCE – KEY PRINCIPLES • Management Accounts • Budgetary control • Monitoring • Monthly or termly • Reliability • Circulation

  8. Finance • Management Accounts Dep Heads finance course - management accounts.xlsx

  9. Finance – Cash flow • Management accounts - section

  10. Finance – Cash flow September January August April

  11. Cash flow • CASHFLOW

  12. SCHOOLFINANCE – KEY PRINCIPLES • Balance Sheet • Assets • Fixed • Current • Liabilities • Debtors

  13. SCHOOLFINANCE – KEY PRINCIPLES • Balance Sheet Balance Sheet example Atlantic College 2013 Accounts SOFA example Difficult balance sheet

  14. SCHOOLFINANCE – KEY PRINCIPLES • Debtors

  15. SCHOOLFINANCE – KEY PRINCIPLES • School accounting vocabulary • SORP • SOFA • Depreciation • Accruals • Revenue vs Capital • Cash flow

  16. SCHOOLFINANCE – KEY PRINCIPLES • More terms! • Fees in lieu of notice • Creditors / debtors • Reserves

  17. Finance • Questions?

  18. Nicholas Grenfell-Marten njm@nicholasmarten.org www.nicholasmarten.org Tel. 07770234946

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