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Maximise Your Income: A guide for academies and schools

ISBN: 9781907927621
£79.00
Product description

Introduction
In an age of austerity, all schools need to reconsider their approach to funding and look to reduce outgoings, increase income and add value.

Schools also need to collaborate across school types and disciplines and boards of governors must act now to decide their strategy to lay the financial foundations for the future.

This book gives a range of ideas about how economies can be achieved, income increased or value added.

It is aimed at academies (and explains the legal structures required) but many of the ideas will also apply to other schools in both the maintained and independent sectors.

Benefits
Maximise Your Income: A guide for academies and schools offers a range of ideas, including:

understand more about financial controls and taxation
appreciate how good procurement can achieve significant funding
identify, reduce and prioritise risks
know how to set pay and conditions for staff
know how to set up a subsidiary training company.
Summary of contents
Chapter 1: Financial controls
Having read this chapter you will know:

what obligations schools are under when receiving funding
how to balance your budgets
how to delegate and which policies you need
what to cover when setting contracts.
Chapter 2: Staffing costs
Having read this chapter you will know:

how to set pay and conditions for staff
the importance of enrolling staff on the Teachers’ Pension Scheme
what to consider when reducing costs of staffing and supply cover
how to deal with employees who earn more than the personal allowance.
Chapter 3: Taxation
Having read this chapter you will know:

the importance of academies registering as an exempt charity
how to deal with corporation tax
how to claim back on donations
what to do if taxable turnover exceeds the threshold.
Chapter 4: Procurement
Having read this chapter you will know:

the importance of good procurement to achieve significant financial savings
the benefits of collaboration
the potential challenges and constraints of procurement
how to prepare a specification
the importance of taking care when engaging contractors.
Chapter 5: Risk management, insurance and licensing
Having read this chapter you will know:

what risk management processes should achieve
the importance of risk management in relation to health and safety and insurance
how to organise events that may require licences.
Chapter 6: Donations – or just ask!
Having read this chapter you will know:

the importance of donations and how to encourage them
how to include gifts in accounting records – and when to decline
how to get the most out of fundraising.
Chapter 7: Trading companies
Having read this chapter you will know:

how to set up a subsidiary trading company
the importance of establishing robust terms and conditions
how to transfer profits under Gift Aid.
Chapter 8: Bidding for funding and grants
Having read this chapter you will know:

the importance of the Condition Improvement Fund
how to prepare a bid and make grant applications
how to manage projects to ensure they are within budget.
Chapter 9: Property
Having read this chapter you will know:

the procedures and benefits of property rental
how to manage events from your premises
how to prepare contracts for letting agreements
requirements for disposal or change of use of land.
Chapter 10: Green schools
Having read this chapter you will know:

the importance of energy costs for a school
how to reduce and generate energy
the importance of water efficiency and waste management
how to self-fund schemes.
Chapter 11: Getting stuff for free!
Having read this chapter you will know:

the process and benefits of sponsorship
how to receive donations and what to be aware of
the benefits of collaboration and commercial promotions
how online resources and social media can be a rich source of development opportunities
the growing popularity of TeachMeets.
Chapter 12: Selling services
Having read this chapter you will know:

how to commercially exploit schools’ expertise
the common services which are developed.
Chapter 13: Volunteers
Having read this chapter you will know:

the importance of volunteers and how their support benefits pupils
the responsibility of the board of governors
what you need to do in terms of DBS checks and safeguarding training.
Chapter 14: PTAs, Friends committees and fundraising ideas
Having read this chapter you will know:

the importance of PTAs
what a PTA must do if its annual income exceeds £5,000 or it is a CIO
how PTAs can maintain clear accounting records and annual reports.
Chapter 15: Alumni
Having read this chapter you will know:

how to create an alumni database
how to use the alumni network as a source of fundraising
the importance of legacy campaigns.
Chapter 16: Other ideas
Having read this chapter you will know:

how to set up a shopping cashback scheme
the financial benefits of an on-site nursery
the benefits of cashless systems
a range of new, creative ideas!

Additional information
Products specifications
Author KATIE PAXTON-DOGGETT
Pub Date 2015-11
Binding Book/Manual