Posted on 7th June 2017
Generating more income for your School
One of the hot topics highlighted during in the general election has been the issue of school funding.
According to many in the profession, funding has become so critical that almost 3,000 head teachers across 14 counties in the UK wrote to parents outlining the current financial difficulties that all schools are now facing so that they could raise the issue with prospective parliamentary candidates.
Indeed, it would seem the issue is undeniably significant, with £3bn having been withdrawn from the schools budget in England at a time when pupil numbers are increasing dramatically; in real terms funding per pupil is being reduced by almost 8%. Schools are also finding it very difficult to recruit teachers in specialist subjects such as Maths, English, Science and Computer Science, as many teachers are leaving the profession as a result of working under too much pressure. According to the Independent newspaper, 10,000 teachers left between 2010 and 2015.
To help schools at this difficult time, Sussex-based chartered accountants, tax and business advisers, MHA Carpenter Box, has produced a list of ‘5 Ways to Generate More Income for your Academy’ which is relevant to all schools. The list covers Grant Funding through the Education and Skills Funding Agency, internal fundraising ideas involving the school’s families and friends and stakeholders in the school, and fundraising events such as quiz nights, pet shows or even a murder mystery evening.
MHA Carpenter Box also encourages schools to forge better links with their local business community, allowing them to highlight a range of careers experiences. Schools could also benefit financially by identifying sponsorship opportunities for local businesses, such as sports playing kits, school achievement prizes or a themed activity week in school.
Last but not least, schools can benefit from crowdfunding which has become an increasingly prominent source of alternative funding in the commercial world. There are many crowdfunding platforms that are worth investigating such as Kickstarter, Crowdfunder and GoFundMe.
Robin Evans, Departmental Director, Assurance & Advisory Group at MHA Carpenter Box, commented: “We already support schools and academies in a number of ways to increase their income and many of the ideas above do not only create the opportunity to raise funds, but also give pupils a chance to apply their numeracy and literacy skills when getting involved in campaigns! We’re happy to help so get in touch if you want to talk any initiatives through.”
Further details can be found at the following link: http://www.carpenterbox.com/2017/5-ways-generate-income-academy/
To help academy business managers and finance trustees to meet their regulatory compliance obligations and prepare for upcoming challenges, MHA Carpenter Box will be holding a free seminar at their offices in Worthing on 7 July 2017. For full details and to register for the event, please refer to the following link: http://www.carpenterbox.com/academies-seminar/
"“Sutton Winson have been members of the BHBPA for around 7 years. We have found it a great way to keep in touch with Burgess Hill businesses and to meet with likeminded people. It’s not just another “networking” group, as it tackles the real issues and gets things done”"
"“I have belonged to this group since I started my own business, Lea Graham Associates, in 1986. The association has been through several incarnations since then, but its most recent one, BHBPA, is by far the best.
It’s much more than just a networking group, although it is supremely good at that too. BHBPA is inclusive and friendly and acts like a mutual-support society. The events are stimulating, worthwhile and often great fun and I believe most members share this opinion.”"
"“I can’t speak highly enough of the BHBPA. As a small local business we feel very much part of a community and thoroughly enjoy the annual exhibition and meetings throughout the year. Over the years we have built fantastic working relationships with many BHBPA members and every meeting and event offers us opportunities to work with more. This is networking at its best! ” "
"As the local hospice for the area, it’s great that we receive so much support from the BHBPA. Last year the members raised an amazing £2150 through activities such as Bake Off and the BHBiz Awards. Each well planned members meeting enables good networking opportunities and speakers that are relevant to the present climate and local issues. We are proud to be members of BHBPA."