Why the Financial Survey for Schools (FSS) makes a difference?
My research continually reinforces the power of the the Financial Survey for Schools (FSS) to convert large amounts of data into actionable insights to underwrite the financial sustainability of your school.
It upsets me when I see schools get into financial difficulty when it could have been prevented by correctly using the FSS, associated tools, and a bit of advice. I have seen some wonderful financial turnaround, but sadly some not so. There is a catch — governors and management must be prepared to use the FSS and make changes. If you are a small school (say less than 300 students), you could be a higher risk and need the FSS even more.
So don’t be the “should have, could have, but didn’t”. Participate in the FSS now.
FSS EARLY BIRD OFFER CLOSING | Participate now
Even though the survey is always open and can receive participant data at any time until April 2024, schools are encouraged to complete their 2022 school-year data entry by 30 September 2023 in readiness for the 2024 strategy and budget season. Participation starts from $720 plus GST* or if less than 200 enrolments the price is halved to $360 plus GST* per school.
*Early bird price -– when survey completed and invoice requested prior to 30 September 2023.
AICD WEBINAR | Financial Governance for school boards: Unlocking the paths to sustainability
Date: Thursday 14 September 2023
Time: 11:30am to 12:30pm (AEST)**
Cost: AICD members: AU$69 | Non-members: AU$99
Registrations: https://www.aicd.com.au/courses-and-programs/all-webinars/EV165812.html
**Recording: Will be available within 48 hours after live session (expiry date: Monday 15 September, 2023).
Another key attribute of a financially sustainable school is governor and senior management financial literacy training.
In conjunction with Australian Institute of Company Directors (AICD), John Somerset is running a short, sharp, and effective webinar covering the essentials of school financial governance. Get the most out of your attendance by having the FSS reports in front of you while we work through the material together.
The ‘live’ webinar will cover:
> Legislation relevant to school financial viability
> ACNC governance standards for transparency and accountability
> Attributes of a financially sustainable school
> Accounting principles for non-accountant directors
> Transforming data into actionable insights using ratio analysis.
Q | Any questions?
For more information about the FSS or our budgeting and reporting tools, please do not hesitate to contact Cathy or Jessica at survey@somerseteducation.net or call 1300 781 968 (from outside Australia +61 7 3263 5300).
If I can help in any way with the financial governance of your school, please contact me at john@somerseteducation.netor mobile 0417 618 899.
We look forward to your ongoing support, or if new to the survey, we warmly welcome you joining in.