How technology has helped UK schools address funding implications
27th February 2017 marked the controversial announcement by the Institute of Fiscal Studies that funding cuts per pupil in England would be as high as 7% by 2020.
The growing pressure on school funding has resulted in an uproar, with schools warning that, without some sort of resolution, the education sector won't be able to deliver the standard required.
How schools can increase annual revenue
To help maximise revenue following funding cuts, more schools are now looking at community hire to make the most of their school facilities.
Recent research conducted by Kajima Partnerships has found that the financial deficit could be reduced by 10% if schools in the UK hired out their facilities, potentially generating annual revenues as high as £40,000. For some schools, this could increase to as much as £350,000 per year.
Managing school income effectively
The demand for education facilities is growing rapidly, with over a third of all sport facilities located on school grounds, including 61% of artificial grass pitches and 77% of sports halls. But for many schools in the UK, the main obstacle for hiring out facilities is the logistical, legal and financial aspects associated. However, thanks to technology, software is empowering schools to put the right processes in place, enabling them to manage bookings and income effectively.
Technology's ability to support the space letting process has been a game changer for the education sector. Tucasi alone have been helping schools across the UK implement the process and help grow their revenue each year. To find out more, click here.
As schools continue to address their budgeting constraints, there's no doubt that technology will be at the forefront to help increase revenue.