Non-Government Schools Financial Performance Survey
After twenty five years of running the Prudential Health Watch for CEN schools, the CEN Board has decided to endorse a new partnership with Somerset Education from 2016 onwards.
The decision is based on providing improved and proactive reporting and to ensure benchmark reporting remains a standard practice in all our schools. We are very grateful for the 25 years that Bob East has been running the Prudential Health Watch and he has certainly provided a very good service to our schools. Bob will continue to provide advice to CEN schools and offer his expertise during the transition period.
Click here for more information on Somerset Education and the financial performance survey.
So how will this affect your school? The new partnership will:
• provide access to the expertise of Somerset Education
• provide online data entry which will significantly streamline the process
• enable schools to benchmark their financial performance against many more similar schools outside CEN
• highlight areas where ratios depart significantly from selected group averages
• continue to provide CEN access to individual school data and reports so that we can maintain our services and advice to our member schools
You will receive a customised benchmarking report for your school—this will be a snap shot of the year just completed. A report providing comparisons with previous years is an optional extra report, as is a report applying the same analysis to up to four budget years (Somerset Key Indicators (SKI) Report).
The additional reports are optional at an additional cost. However, the SKI report in particular will provide significant benefit for schools to be proactive in planning and budgeting. This will ensure sustainable financial performance which then strengthens decision making with boards and leadership teams.
CEN schools will be in a Christian Education National Grouping within the Somerset Survey to ensure that we can benchmark against our own schools. It will also provide an overall health assessment of our schools to CEN. Forming a benchmarking group will be more straight forward, either by the school for an individual report or more generally by forming a reporting group held by Somerset.
If you have any questions, please feel free to contact David Grey, CEN Board Treasurer, at firstname.lastname@example.org or 0409 132 284.
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