Whatever financial position your school is in at the beginning of 2016, we are all aware that these are turbulent times. Budgets are under immense pressure because funding is effectively frozen and costs are rising. The situation in post-16 education is even worse with cuts that have left many sixth forms and colleges on the precipice.
The question that is uppermost in the minds of many school and college leaders then is how to address the toxic combination of funding uncertainty and unavoidable cost pressures. A tremendous amount of financial expertise already exists in many institutions around the country.
Leadership teams are rising to the challenge of delivering education in more innovative and efficient ways to meet the changing needs of the economy and ensure young people have relevant skills for the world of work. This article cannot provide all the answers but it will draw together some general principles and hopefully provide a helpful summary.
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