Bursar’s Review Sample

Autumn 2022 www.theisba.org.uk 12 Feature assessment of the timing of the worst effects of each risk will be key. The risk profile and timings can be used to inform the financial scenarios that will be required as governing boards identify a way through the changing trading landscape. The scenarios will have to be revised as significant factors change and each revision should prompt a discussion on reserve levels, surpluses generated and fee remission policies. All these factors make planning for the short to medium-term exceedingly difficult to achieve accurately. The financial risks are potentially piling one upon another in both time and effect and the focus of the combined and accumulated effect is likely to be in the first six or nine months of 2024. Author John Murphie ISBA chief operating officer it has announced. So, the risk is that the prices become uncapped in 2024 but are also surcharged to pay for the assistance that we will have benefited from over the next 24 months. Risk register Over the next two years a well- constructed, regularly revised, realistic risk register will be an essential part of the governance of a school. This will be a major part of analysis required to reach a robust and enduring financial strategy. Each of the strategic risks will have to be evaluated by schools recognising their local factors and the other unique effects that each school has as part of its trading environment. The www.theisba.org.uk