Schools benchmarking is broken down into two categories, financial and academic.
Financial benchmarking is a requirement for the School Financial Value Standard (SFVS). At J H Godwin, the school/school governors, periodically review benchmarking data which compares our performance both academically and financially to other school with the same profile as ours, and against national figures.
Benchmarking allows us to understand our position both academically and financial and identify areas of strengths and areas to improve.
The reasons for doing this is to:-
- Sustain self improvement
- Set improvement targets
- Understand & monitor trends
- Set Priorities for the School Development Plan
- Ensure finances are being used according to school priorities and stay with the specific budget set
J H Godwin – Financial Benchmarking