Download self assessment checklist (PDF 256kb)

Many schools are worried about the state of the economy, what affect this might have on them, and if they are taking appropriate steps to consider possible adverse factors.

This checklist (PDF 256kb) is a tool by which governors, bursars or head teachers can make an initial self-assessment of how well their management and governance arrangements are contributing to the school’s financial health. It provides an initial overview and evaluation of where systems and processes may need to be implemented or improved.

It is not intended for this briefing to be a substitute for independent financial advice for an individual school. If specific areas have been highlighted as requiring attention then readers are encouraged to contact their usual Baker Tilly advisor.

How to use the checklist

For most independent schools it is likely that there will be some areas of financial governance requiring more attention that others. The checklist (PDF 256kb) analyses financial health indicators into seven areas:

1. Awareness of economic realities
2. Understanding your market
3. Monitoring anticipated future demand
4. Identifying early warning signs
5. The right information for decision making
6. Appropriate skills and strengths
7. Knowing your options

For each area readers are asked to consider whether individual requirements are being fully met, partly met or not being met at all. Following completion of the checklist readers will then be able to identify and prioritise those areas of financial governance requiring some attention or confirm that this initial review has not identified any significant problems. For areas requiring some action, readers are encouraged to follow up as appropriate.

 Download self assessment checklist (PDF 256kb)