Ways to make your school money go further

Published on in SMART WORKING FOR SBMs
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Ways to make your school money go further

Ways to make your school money go further 

 

Financial cuts, government policies and workloads. It’s been a challenging time for everyone and it’s easy to overspend. You’ve had a set budget for a long time but now that budget has started to decline, how do you now manage that? Luckily, we have some handy tips and information for SBMs to help you get by and make your school money go further.  

 

Budget  

Budget monitoring involves examining monthly monitoring reports and taking action to fight inconsistencies. Money on individual projects should be tracked so the school can assess their costs and effectiveness against the criteria in the school improvement plan. Budget monitoring is a useful starting point when setting your budget for the following year. 

Why are budget monitoring and reporting important? 

Regular monitoring and reporting of income and expenditure against the set budget is key to effective financial management. It helps the governors and senior leadership teams, as well as SBMs, to control the finances by reviewing the current position of the school and taking action to improve when needed. Another useful aspect is that it can make budget holders accountable, this applies to both devolved budgets within the school and for resources that need to be used. 

 

Make your school more sustainable 

When school leaders work to create a more sustainable environment, this can help reduce necessary expenses. 

For example, many schools still stick to old paper systems for billing, payroll, and registration. When schools switch to online alternatives, they can reduce the costs of printing and the use of paper. This helps the environment while saving money. 

Simple changes can go a long way. Here are some ways your school can reduce energy costs: 

  • Use daylight to reduce lighting costs 
  • Turn off lights in unoccupied rooms 
  • Use motion-activated lights 
  • Turn off computers and printers at night and on the weekends 
  • Ensure heating systems run efficiently by scheduling regular maintenance
     

Another way of saving money and keeping your school more sustainable is by investing in cleaning products. With our range of cleaning products, GLS is here to make sure your school money goes further. Our Classmates anti-bac soap is bound to keep you going all year round. Both protective and gentle, it's the perfect value for money. 

The best to use for your school’s facilities is super thick bleach as you can dilute it or use it for bad areas. Plus, whatever's left can be used for the toilets. 

 

Use your school site to raise funds 

Did you know your school has the potential to generate its own income? 

Local organisations and businesses might need the space for events such as classes, business meetings, or training sessions. 

Or maybe your sports facilities or hall spaces could be rented out for parties and events. 

Even your parking lot could be used to earn some money: if it’s in a popular area, you could rent it out as paid parking for local events. 

Each school can get creative about ways to raise funds. Start by analysing the spaces your school has and the times those spaces aren’t being used. Then, get in contact with local organisations to see who might need the space or spread the word among the community that the spaces are available for rent. 

 

Invest in teachers 

No matter how bad your budget gets, never give up on investing in your teachers. They are the backbone of your school, and without their continued help and hard work, your students will never succeed.  

Use your school funding budget wisely, and help students thrive. The goal of any school leader is to see students grow into capable, intelligent adults. 

  

 

While school funding is an issue that isn’t likely to go away soon, that doesn’t mean school leaders are completely helpless. 

Yes, budgets for many schools are tight in today’s world. However, you as a school leader can work to put that budget to better use. 

By streamlining processes, finding more cost-efficient options, and reducing the costs of running your school, you can allocate more funds to teachers. 

Developing your own strategies to cut costs may take some time, but the result will be a more cost-efficient school that can do more for its students while staying within its budget.  

 

For further information and tips check out our 'energy saving tips in winter' blog.