Institute data shows that nearly 16,000 chartered accountants do something for charity outside of their main role, the majority as school governors or charity trustees. Yet state schools today, many in inner cities, face a 40,000 shortfall in governors, hindering budget and management decision-making. Could more of us – with our particular skills and competencies – be part of the solution?
My own experience is that we can make a real difference. I have been school governor of my local state school for eight years, and chair of the finance committee and of a trust I helped set up to support the school. Eight years ago, we had a deficit of £66,000. Now we have a surplus of £40,000, our trust has raised over £70,000 and finances are on a much more solid basis.
Today, there are smart boards and laptops in every class, a well-equipped IT suite, a replenished library and a playground to be proud of. As governors, we have gained the satisfaction of knowing that we were instrumental in making sure the children in our school have every possible life choice. They will not want for anything in the foreseeable future.
Head teachers run schools but are not necessarily financial experts. Many can’t afford a full-time office manager let alone a bursar. But it’s not sufficient for them to have merely well meaning volunteers – they need both committed and skilled volunteers. Their approach to governors and trustees needs to be the same as any company putting together a board – with the right mix of expertise to supplement management of the organisation.
My role has been to be a critical friend to the head teacher and to nudge him in the right direction on financial decision-making. That is something the general shortfall in governors can affect because some schools are only just quorate: it only takes one or two governors not to be present for the decision-making process to falter.
The contribution of chartered accountants helps the flow of knowledge and best practice but it is certainly not a one-way street. We learn as much as we teach – not least in developing board experience, whether as governor or trustee, before reaching board level in the business world. But whatever your age or stage of career, the chances are there is a local school in your area that needs your help.