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haysmacintyre Schools Autumn Briefing 2017

13th September 2017

Welcome to the 
Autumn edition of the haysmacintyre Schools Briefing. 
It is a busy time for Bursars with audits in full swing or waiting to happen. For this edition we havecompiled a selection of articles that we hope you will find interesting and thought provoking.

In our legal article Andrew Wherrett, Senior Associate, Veale Wasbrough Vizards, picks up on some of the key themes emerging from the Charity Commission’s recent inquiry and compliance case reports. Charities have been reviewing their investment strategy and addressing whether to maximise returns or invest in line with their mission statement. We haven’t seen many schools considering ethical investment and James Butler, Adviser, Epoch Wealth Management, takes us through what is involved should you wish to explore further. 

Last month we provided the first of our two updates for independent schools. Tracey Young reviewed areas to consider when preparing financial models ensuring management and governors make informed decisions which included reviewing the financial impact of fee remissions. Her article in this edition considers the topic in more detail. The new Charity Governance Code was published in the summer and I presented the key provisions as they impact the independent schools sector. You will find a detailed article in the Autumn edition of the Bursars’ Review. We were delighted to be joined by Nick McRobb, Bursar, Bryanston School who picked up on the sixth principle of diversity and shared his experiences from both the independent school sector and the Military.
As part of the Charities (Protection and Social Investment)  Act 2016, new rules on fundraising came into force on  
1 November 2016. Larger charities (those over the audit threshold of £1m income) will have to include extra information about fundraising in their annual report and accounts. Lee Stokes takes us through the new reporting requirements. Simon Bulleyment who heads our IT consultancy team asks whether you are going to be ready for when the General Data Protection Regulation (GDPR) which comes in to force on 25 May 2018 and David Sewell considers the use of fees in advance schemes.

Finally, may I wish you a successful end to what seems like a long first half term. I hope you enjoy this edition and as always we value your feedback and suggestions for the future.

For more information please contact:
Tracey Young, Head of Education
T 020 7969 5654 E

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