For an organisation to operate at its fullest potential, it must continuously improve its performance. Designing and implementing financial controls, reporting and systems can transform a business’s financial operating model by creating stability and adding value. Providing leadership and stability to drive performance improvement can transform a challenged business by providing decisive and timely action.
Where we help:
- Stabilise cash flow
- Analysis of financial situation
- Assess options
- Prepare a performance improvement plan
- Secure stakeholder buy in
- Execute the agreed plan
Financial performance in Further Education directly impacts the official financial health rating, a key measure of progress and success. As part of preparing the strategic business plan, assessments will have been made around estates strategy and curriculum planning; it is fundamental these key elements are properly integrated into the financial plan, to ensure that planned efficiencies as well as areas requiring investment for the future are recognised. A key element of applications into the TU will involve assessment of the key ratios and forecast financial health rating through the life of the plan. Clear signs of improvement throughout will be expected in order to support the case for loans / grants from the Restructuring Facility, which must also demonstrate value for money for taxpayers. With the forthcoming insolvency regime looming ever closer, there has never been a better time to get your college in order.
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