Strategic and financial planning for school leaders

Strategic and financial planning for school leaders

As principals’ compliance requirements continue to increase and become more complex, managing these things becomes a bigger challenge.

Whether it is managing the budget of an individual faculty or plan for the long term in a school, there are pitfalls aplenty that educators can fall into.

In August, Paul Campey, partner at the Resolve Consulting Group, will speak about this topic at the Education Leaders Summit at Sydney.

Below, The Educator speaks to Campey to find out more.

TE: Tell me about the topic that you’ll be speaking on.

PC: Being an educational leader involves so much more than teaching and learning, being a good manager and planner as well as managing the finances and resources of the school is a critical part of the role.

Resolve has been working with Principals Australia Institute to develop and deliver financial literacy workshops for principals. This session at the Education Leaders’ Summit will seek to provide some key pointers to help educators as they manage the finances of their schools and better allocate budgets each year.

TE: In your view, why is this topic so important for education leaders?

PC: Often the skills needed to lead and manage a school in respect of finances and strategic planning are not part of the initial training of educators, yet as they rise through the ranks it becomes more and more important to their work. We are experienced in working with schools across Australia and overseas and help leaders with critical business skills to help them run their schools.

TE: Why are events like this so important for the education profession more broadly?

PC: Events such as this enable educators to hear about and learn about issues that they may have not yet had to face or are in fact facing but don't know how to handle them. Running a school is no different to running a business and ultimately, the buck stops with the school leader to ensure financial viability and funding is administered appropriately. These events help school principals share their experiences and gain important information to help them become more effective leaders.

TE: In the context of the issue you’re addressing at the summit, what are the biggest challenges that school leaders face?

PC: They don't know what they don't know. School leaders need to understand budgets and financial reports. They need to know how to ensure they receive the maximum funding for their school, and develop a financial plan and budget for their school. They also need to know how to prepare for financial audits and undertake budget reviews. Resolve can assist them with all of these important elements in running their school.

TE: If you could give one piece of advice to school leaders relating to this topic, what would it be?

PC: Ask questions until you understand the concepts or the issues at hand. This will help you identify the current issue better, but also identify future issues before they perhaps become more significant. Register now for a PAI Resolve Financial Literacy workshop in your state and don’t delegate. The buck stops with you as the school leader.

The Educator Leaders Summit will be held at Dockside Sydney on Friday 17 August.

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