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Solving the problem of school funding shortfall

26 November 2014

Browne Jacobson’s second annual survey of school leaders explored schools’ approaches to managing their budgets and their future priorities.

In a period of continued financial restraint it is not surprising that half (55%) of all school leaders have earmarked reducing costs as a major priority over the coming academic year, rising to 71% amongst secondary school leaders. Interestingly, there is a growing interest in raising income from other sources – not from trading activities as is frequently cited but rather from fundraising and applying for grants. Will schools rely on existing staff or bring in expert support from outside to improve their chances of success? Perhaps schools may also consider how they could collaborate to increase their chances of success?

It is clear that managing costs is going to continue to be a priority after the election. Those schools that have grasped the agenda now will have put themselves in a better position to address the challenges that are looming in the form of at best flat funding and rising costs such as increased employer contributions under TPS in September 2015.

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