Filter Content
- Securing the Financial Frontline
- What Makes Schools Effective?
- Merging Corporate Expertise with School Management
- The Business Manager’s Roadmap to Successful AP Automation Implementation in Schools
- Who Are The Cole School Experts?
- Best Practices for Communicating Annual School Fee Updates
- Health Check Services for Schools
- Building a High Performance School Environment
- A Powerful App for a Busy School
- Reforming Philanthropy: Navigating The Future Foundations Report
- New Data Now Available on Population Forecasts
Is your Accounts team feeling snowed under from all the tasks required to manage Accounts Payable (AP) and Accounts Receivable (AR)? From invoicing to updating financial details, reconciling accounts to reporting, dozens of manual tasks are likely keeping your team working around the clock to keep cash flowing and relationships managed.
It’s little wonder that within this complex business function, tiny mistakes and small oversights can leave your accounts vulnerable to security and fraud risks — both internally and externally. At Cole School Experts, we’ve supported a number of schools that have experienced security breaches and needed to shore up their financial processes — fast.
Our secret weapons? Automation and leveraging best practices.
In this blog we consider how we can use these 'weapons' to secure the frontline of school finances.
For almost 30 years Brad Richmond has worked in Accounting, Finance, ICT and Business Management roles in a variety of corporate and not-for-profit businesses, most recently Education. Brad’s ability to mitigate financial, environmental, and reputational risk as Business Director for Lutheran Education in SA, NT & WA has kept him engaged with the education sector for the last 7 years. Brad diligently partners with their learning community’s Board, Principal and Business Manager, to achieve missional goals whilst also ensuring regulatory compliance and reporting obligations are met.
In this episode of The Business of School podacst we chat with Brad about what makes schools effective.
Follow the links below to find more episodes and listen to The Business of School podcast on your favoured podcast channel.
After years of working in both the corporate world and the not-for-profit education sector, Matt Duke has encountered this generalised assumption from time to time: many believe that corporate professionals, with their exposure to high-stakes decision-making, have an advantage over those managing schools. But is that really true? From his experience, this view often overlooks the complexity involved in running a school. School leaders manage responsibilities that are just as intricate and often more personal than their corporate counterparts.
Matt Duke is the Business Manager at Presbyterian Ladies' College in Melbourne. Follow the link below to read his thoughts in this very topical article.
Schools that plan smarter, succeed faster.
Recognising the need for AP automation is just the first step, true success lies in how you implement it. That’s where our comprehensive guide, The Business Manager’s Roadmap to Successful AP Automation Implementation in Schools, becomes essential.
In today’s fast-evolving school environment, Business Managers need more than a basic understanding of automation. You require a well-defined, strategic plan to ensure a smooth and effective transition. This guide offers a detailed, step-by-step roadmap to help you digitise your AP processes while avoiding common pitfalls.
Here’s what you’ll find inside:
• Understanding the Need for Change
• Securing Stakeholder Support
• Building a Cross-Functional Team
• Evaluating and Selecting the Right Vendor
• Onboarding: Partnering with Your Vendor for Success
• Managing Resistance to Change
• + much more
From preparation to execution, this guide is designed to give you the confidence to navigate every phase of the process. Say goodbye to time-consuming manual tasks and welcome greater efficiency, accuracy, and transparency in your school’s AP operations.
Download your roadmap now and lead the charge!
For more information, visit www.myalii.cloud or contact us at info@myalii.cloud.
Meet... Helen Bartsch
Finance Officer and Debtor Manager
Helen joins the Cole Family with over 15 years customers service and accounts processing. Having completed her Diploma of Accounting she provides expertise in tasks such as bookkeeping, accounts payable, accounts receivable, and payroll processing. Helen also has knowledge of tax laws and regulations. Additionally, she is highly organised, a strong problem solver and her attention to detail is commendable.
Overall, Helen’s qualifications and attributes make her a valued member of the Cole Team, capable of handling various accounting and administrative responsibilities while contributing positively to the team’s success.
Follow the link below to meet more of the Cole School Experts team!
Setting school fees is a crucial responsibility for school leadership teams. It’s a fact of life that no one likes to pay fees, and increasing fees is never a popular decision. It is therefore a difficult and delicate decision to set school fees each year.
However, setting the fees is simply step one. Arguably, the next step of communicating fee increases to your school community is more difficult than setting them.
It requires balancing transparency, empathy, and clarity, all while maintaining the trust of your parent community. With careful consideration, the use of technology and collaborative input from marketing, schools can enhance the communication process.
Here’s a guide to best practices for school leadership as they seek to effectively communicate school fee changes each year.
Finance Health Checks
Our finance health checks are tailored to your specific needs. We can assess your complete system or focus on particular datasets, modules, workflows, or reporting outputs.
During our health check, we systematically work through crucial areas that may be impacting your financial operations, including software and database setup, processes and support documentation, integrations with third-party solutions, workflow automation, financial reports, data accuracy and input, and compliance with policies and legislation.
Based on our findings, we can map out your school's operational processes, establish a review cycle, and consult with relevant users and leaders.
Let us help you optimize your school systems and processes. Ask us to prepare a report for you to present to your Finance Committee or Board to demonstrate a review of risks, compliance and controls.
Payroll Health Checks
Wage theft in independent schools in Australia and New Zealand is indeed a pressing concern that can have serious ramifications for educators and support staff. The complexity of payroll in these institutions often leads to unintentional errors, particularly when leadership undervalues the expertise of payroll specialists.
Misclassifications, underpayment, and the failure to provide proper entitlements like superannuation, overtime, and leave can contribute to financial stress for employees, eroding morale and job satisfaction. This situation is exacerbated by high-pressure environments where administrators may focus on immediate fixes rather than ensuring comprehensive compliance with the applicable enterprise agreement, modern awards, and employment law.
Due to the unique and complex nature of school payroll, the national Fair Work Commission takes all enquiries seriously. If underpayments are suspected, audits and rectification work can be a costly and stressful exercise for all involved.
Investing in knowledgeable payroll professionals and fostering a culture that prioritises fair compensation and understanding of employment law is essential. Ensuring that all staff are properly classified and compensated, not only supports employee well-being but also enhances the overall health of the school community.
Payroll Health Checks on systems and compliance is the right step to address these issues proactively and effectively.
Contact us today to schedule a health check tailored to your school's needs. If you're interested in learning more about how we can support your school's operational excellence, click here to find out more about our services and how we can assist you.
Trudy MacDonald from TalentCode HR has filmed a special 10 part video series tailored for schools and the high performance journey. Follow the link below to explore this fascinating serise of short videos.
For busy schools, a comprehensive and forward-thinking communication strategy is non-negotiable. For one of Australia's largest boarding schools, this meant leaning into the power of an integrated school app.
Read this case study to learn how Toowoomba Grammar School partnered with Digistorm to achieve strategic goals and ensure immediate, accurate and streamlined communication with parents.
The Australian Productivity Commission’s recently released final report, Future Foundations for Giving, offers a comprehensive examination of Australia's philanthropic landscape, presenting a plethora of recommendations aimed at reforming the system to better serve the community. However, it also highlights significant challenges and contentious proposals, particularly around the deductible gift recipient (DGR) status of certain charities and private schools in Australia.Do you want to know if your "Catchment Area" is growing or shrinking as far as potential students are concerned over the next 10 to 15 years? Do you know the ABS have released data to help you?
Every 5 years we have a new data release from the ABS on population forecasts by sex and 5-year age group. In October 2024 we had released updated ABS information 2022 - 2032, and Spectrum Analysis have used their own methodology to project this out to 2037, balancing this with the National population projections (medium growth scenario).
Read Spectrum Analysis' blog on this interesting topic relevant to all schools.
