Managing Budget Changes in Light of Decreasing School Enrolments with SBS Financial Planner

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Understanding the Decline in School Pupils

According to the latest national projections from an ONS study, the number of pupils in schools in England is expected to decrease significantly in the coming years. This trend is driven by various demographic factors, including lower birth rates and changes brought about by the COVID-19 pandemic. Key projections include: 

• Nursery & Primary Schools: A decrease of 207,000 pupils by 2028. 
• Secondary Schools: A slight increase of 29,000 pupils by 2028, peaking in 2026-2027 before declining. 
• Special and Alternative Provision Schools: A continued but uncertain trend, with special schools peaking around 2027 and alternative provision schools stabilising post-pandemic. 

These changes necessitate strategic financial planning for schools to manage budget fluctuations effectively.

Strategic Financial Management with School Business Services 

School Business Services (SBS) offers a comprehensive Financial Planner designed to support Multi-Academy Trusts (MATs) and schools in navigating these demographic shifts and their financial implications. Here’s how the SBS Financial Planner can help: 

Central Management of Budgets and Assumptions: 

Consistency and Efficiency: Update pay scales, National Insurance rates, and funding assumptions across multiple budgets and locations simultaneously. 

Strategic Decision Making: Ensure that data is accurate and up-to-date for confident and informed financial decisions. 

Scenario Planning: 

Multiple Scenarios: Create unlimited combinations of scenarios to explore different financial outcomes across the organisation. 

Data Integration: Seamlessly combine data from various budgets to generate comprehensive reports, aiding in strategic planning and resource allocation. 

Comparative Analysis: 

Visual Comparisons: Compare settings and assumptions visually to maintain consistency and identify discrepancies. 

Error Detection: Drill down into data to pinpoint potential errors and ensure accuracy across all financial plans. 

Payroll Reconciliation:  

Monthly Reconciliation: Import payroll files at the MAT level and choose to reconcile centrally or by individual schools. 

Customisable Processes: Benefit from customisable reconciliation settings and a formal monthly sign-off procedure to ensure financial accuracy and accountability. 

Maximising Financial Stability 

As schools face the challenge of declining student numbers, efficient financial management becomes crucial. The SBS Financial Planner provides the tools needed to adapt to these changes, ensuring that schools can maintain financial stability and continue to provide quality education. With features that enhance data accuracy, strategic planning, and financial oversight, the SBS Financial Planner is an invaluable resource for school business managers and finance teams. 

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Book a demo today and take the first step towards optimised financial management and stability.