Schools thinking outside the box to raise funds

In a bid to generate funds into schools, leaders have been letting facilities, hosting weddings and setting up nurseries, according to new research.

The survey, which was conducted by The Key, a support organisation for school leaders, has revealed that more than two-thirds (68 per cent) of schools facing budget cuts across England plan to reduce their number of support staff.

In addition to this 49 per cent are restricting the use of basic resources like stationery.

The data – taken from The Key’s annual State of Education report to be released in May, and weighted by Ipsos MORI – reveals that only eight per cent of school leaders expect to either achieve a surplus or to balance their budget without making any savings in the next financial year.

More than a third (36 per cent) also said that they will need to save more than five per cent in order to balance their budget.

To try and generate additional income, 42 per cent of school leaders report letting school buildings, 10 per cent admit to setting up on-site nursery provision, and 25 per cent are linking up with nearby schools to share catering or cleaning contracts.

Others cited sharing staff, furniture, minibuses, and even mention hosting weddings and using qualified staff to provide fitness classes to the wider community.

Despite making such efforts, more than three in five (72 per cent) school leaders are not confident in their school’s ability to generate additional income over the next 12-24 months.

Speaking about the survey, Fergal Roche, CEO of The Key, said: “These findings shed new light on the potential impact of the savings that many schools need to make.

“In every area, from staffing to stationery, school leaders are having to make difficult decisions about where to cut and restrict resources to balance their budgets, and it’s clear they anticipate further financial challenges ahead.”

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