How to use financial benchmarking
Get a handle on how to use the DfE's financial benchmarking website, so you can see how your school compares with others and ask your school business manager the right kinds of questions.
Other governors shouldn't need to look at the financial benchmarking website, but might still find this article helpful to understand how the finance committee/link governor carries out this kind of scrutiny.
What is financial benchmarking?
Financial benchmarking is when you compare your school's finances with other, similar schools.
This article is based on the Department for Education's (DfE's) financial benchmarking website, but:
- The FFT also has a benchmarking service where you can compare things like workforce data and income per pupil
- Academies can also use 'view my financial insights' to compare their data with similar academies
The financial information on the DfE's financial benchmarking