The findings of a survey recently conducted by Capita SIMS suggests that the greater financial freedoms of academies over maintained schools will make many of them likely to increasingly require highly reliable accountancy services. Whether or not such services come from online accountants like those on offer from Yorkshire Accountancy, these survey findings strongly suggest that many academies are under greater pressure than maintained schools to spend school finances wisely.
Of all of the survey’s academy respondents, almost 85% considered the financial burden of academies to be increased following the separation of the school from local authority control. Meanwhile, over two thirds of these respondents felt that academy bursars and business managers were in need of greater levels of financial management compared to their counterparts at maintained schools. Exactly half of all of the respondents opined that, in the following 1-2 years, it is most probable that they will either up-skill the existing staff in their finance office to cater for their new responsibilities or draw upon the services of a qualified accountancy service from an external agency as far as is required.
Paul Metcalfe, academy sector manager at Capita SIMS, has remarked that “It is clear that academies are having to adapt and need reliable policies and processes in place to manage their finances”. This only begins to hint at the value of the reliable services provided by the experienced online accountants employed by Yorkshire Accountancy.
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