Finance and Budgeting
The Trust began the 2024/25 financial year with a starting deficit of £1.2 million. Thanks to focused efforts on growing income streams and reducing staffing and overhead costs, we are now forecasting a small surplus of approximately £100,000. This marks a significant improvement, with the deficit having reduced from £3.3 million to around £1.4 million despite ongoing challenges such as unfunded National Insurance increases and partially funded pay awards.
Key financial figures for the year include total income of £76 million and staff costs amounting to £62 million. Our Strategic Delivery team continues to support schools in driving efficiencies. Working alongside Western and using ICFP software, we have been able to redeploy approximately 3 full-time equivalent teaching support staff through better allocation of resources. Plans are underway to extend this system-wide to maximise staff utilisation across the Trust.
Systems and Operational Efficiency
This year, the Trust processed approximately 17,000 purchase invoices. Leveraging technology, around 27% of these invoices were automatically matched by the system, enabling us to absorb the increased workload from integrating Rossett and Saltergate Schools without expanding our finance team.
Payment processing times have improved markedly, with the average payment days reduced from 29 to 22 through streamlined processes and proactive supplier management.
Income Generation and Funding Successes
Several schools have secured important capital funding to support growth and facilities improvement. Coppice Valley and Whitkirk Primary Schools each received £150,000 towards nursery expansion, repurposing existing space to enhance early years provision. Additionally, they secured wrap-around funding of approximately £20,000 and £60,000 respectively from local authorities.
Coppice Valley Primary School has been particularly successful, securing over £100,000 in grants for projects including the installation of a canopy and sustainability initiatives. The school plans to generate additional income by renting these improved facilities to other Trust schools.
Our Trust’s sustainability efforts extend to solar energy. By registering our solar panels with Scottish Power, we can sell excess power back to the grid, with anticipated income of around £8,000 during summer months when schools are closed.
Financial returns have also benefited from strategic investments and cash management:
- External bank deposits are generating an expected 4% interest, supported by a new sweeping facility implemented in June that optimises working capital, generating more income from our assets.
- Investment in a Sustainable Multi-Asset Fund has yielded higher returns than bank interest, delivering an 8% return over the past two years to May 2025.
To support vulnerable pupils and ensure appropriate funding, the Trust has implemented new software to streamline Free School Meals eligibility checks and applications, allowing schools to apply on behalf of parents with consent.
Procurement and Supplier Management
Robust procurement practices have generated savings exceeding £250,000 this year through new tenders, renegotiations, and Trust-wide discount agreements. The Trust is progressing towards accreditation with the Chartered Institute of Procurement & Supply (CIPS) via the Department for Education’s programme, aiming to be the first Trust in the North to achieve this status.
Supplier partnerships have yielded additional benefits, including £4,000 in donations to our Red Kite Foundation. A newly established cleaning framework has generated £9,000 in income while providing compliant solutions for schools.
Ongoing supplier engagement and performance monitoring have driven improvements in service satisfaction, Hutchisons, with our catering supplier, rating increasing from 82% to 93%. Working collaboratively with Hutchisons, our Trust has eliminated the primary schools’ catering deficit, down from £40,000 last year, through revenue growth in snacks, clubs, and events alongside cost control.
This comprehensive financial approach underpins our Trust’s commitment to sustainability, efficiency, and strategic growth, ensuring resources are maximised to support excellent educational outcomes.