With the updated School Sport and Active Action Plan, schools must strategically allocate these funds to enhance their PE, sport, and physical activity programs.
Accountants can play a crucial role in ensuring that schools optimise the use of the premium.
They can assist in navigating the key areas of investment, such as staff training and equal access to sports, ensuring that the financial benefits are both maximised and sustainable.
Key financial changes include:
- Digital reporting: Implementing new reporting tools requires careful financial documentation and monitoring.
- Spending focus: Accountants can help schools budget for comprehensive PE programs that meet the new two-hour weekly quality activity mandate.
- Equal access: Adjusting funds to ensure gender-equal sports participation could entail revising existing financial plans.
- Funding timelines: Schools must ensure premium use within the designated academic year, demanding precise financial planning and tracking.
- The Youth Sport Trust Membership offers resources to assist with these changes.
However, the financial implications of accessing these resources, such as virtual CPD workshops and webinars, require careful budgeting.
An accountant can help schools evaluate the cost against the benefit, ensuring that the membership fee translates into tangible improvements in PE and sports offerings.
By effectively managing the premium with professional accounting support, schools can strengthen their financial position while fostering a robust physical education environment, compliant with the latest operational guidelines.
For help making the most of the PE and sport premium, please get in touch.
