1 HARROW SCHOOL. Finance Bursar . JOB Description . BACKGROUND INFORMATION. Harrow School was founded in 1572 and is therefore steeped in history. Over the past 400 years it has extended and developed so that it now spreads widely over Harrow on the Hill an area with an approximate circumference of 4 miles. Harrow continues to enjoy an international reputation as a boys' boarding school and stakeholders' expectations are consequently high. The School comprises 96 (resident). academic staff, approximately 330 support staff and 800 boys, and has substantial property holdings.
2 The School is a charity and a charter corporation. The Harrow School Accounts Department, which is managed by the Finance Bursar , prepares and maintains the financial statements and accounts of four distinct entities: Harrow School, Harrow School Enterprises Limited (the School's trading company,). Harrow Development Trust and The John Lyon School. The latter is part of the Harrow Corporation' with shared governors and the support of the Harrow School Bursary. The accounting arrangements therefore provide an interesting challenge.
3 In broad terms, the Foundation has fee income of circa. 30m. but also enjoys additional, but variable, income from investments, trading and donations (which can extend total gross income to circa 35-40m. per annum). Harrow School also has a number of permanently endowed funds which require financial husbandry. Both schools are financially sound. HARROW SCHOOL. Finance Bursar . JOB Description . GENERAL Description . 1. The main role of the Finance Bursar is to assist the Bursar in the financial management of Harrow School, The John Lyon School and Harrow School Enterprises Limited and managing financial relationships with other related entities and parties.
4 2. The Finance Bursar has to fulfil a wide range of responsibilities and roles in connection with the accountancy and general financial management of Harrow School and the related entities. The main responsibilities are listed below, but the Finance Bursar also has to carry out or delegate numerous routine tasks that have a financial or accounting content. PRIMARY GENERAL FINANCIAL MANAGEMENT. RESPONSIBILITIES. 3. To undertake the following general management tasks: a) To be a member of the Bursars' Management Group b) To direct and supervise the Accounts Department which include: i.
5 Advising the Bursar on the optimal staffing of the Accounts Department. ii. Conducting the department's annual appraisals and monitoring their training needs. iii. Preparing and reviewing management reports and other information prior to issue. c) To set departmental objectives for the Accounts Department based on the School's Strategic and Management Plans. d) Prepare briefings for and attend the Audit Forum committee meetings which currently take place termly with the auditors and selected governors. 4. To assist the Bursar in implementing the Governors' strategic financial objectives.
6 5. To contribute to the preparation of costed 5-year management plans. 6. To prepare financial appraisals of particular projects. 7. To be responsible for, and ensure compliance with, benefits in kind/PAYE. regulations. 8. To maintain analyses of costs and other statistical financial records and provide input to financial benchmark surveys. 9. To ensure effective review of selected financial publications and provide recommendations to the Bursar as necessary. 10. To investigate and promote ways of improving financial efficiency, including the introduction, where appropriate, of improvements to the accounting software and technology.
7 Liaise with consultants, as necessary, in the achievement of these objectives. 11. To deal with the School's rating and council tax assessments. MAIN RESPONSIBILITIES AS FINANCIAL CONTROLLER/CHIEF. ACCOUNTANT. 12. To act as financial controller with the following general areas of financial responsibility: a) All accounting functions including nominal, purchase and fee ledgers and the payroll jointly with the Personnel Manager b) The accurate and timely production of management and financial accounts for Harrow School, HSEL, and The John Lyon School.
8 C) The preparation of, and general advice on, financial policy. 13. To prepare the statutory accounts for Harrow School and to oversee the production of the statutory accounts for HSEL and The John Lyon School. The accounts and financial statements should be kept in accordance with the charities Statement of Recommended Practice, the accounting provisions of the 1993 Charities Acts and ongoing changes to them. 14. In consultation with the Bursar , to prepare annual budgets and termly forecasts, including cashflow projections for the current and future years, for presentation to the governors.
9 15. To assist in the presentation of statutory accounts at governors' meetings when required. 16. To monitor the operation of financial controls through internal audits, and to introduce further controls as appropriate to safeguard the School's funds and other assets. 17. To be responsible for credit control, in particular, ensuring the timely and accurate preparation of pupils' fee bills and the collection of fees and extras. Process all routine correspondence with fee debtors and/or late payments. 18. To prepare internal financial management reports and briefing papers for the Bursar and others.
10 Internal management accounting information including cash flow statements and forecasts, should be presented on a monthly basis to ensure effective control of expenditure and efficient accounting. 19. To conduct or delegate Harrow School's routine monthly accounting tasks. The main ones are listed at Annex A. 20. To control the treasury management function in order to ensure the most efficient and secure deployment of the School's cash and minimise related banking and interest charges. 21. To be responsible in liaison with the Assistant Bursar for an accurate and current Fixed Asset Register.