how can schools save money.

September brought record-high inflation for food at 14.6 percent, and there is no relief in sight yet as economic conditions continue to worsen. A recession is expected, with negative economic growth through Q4 2022. With unemployment and the cost of living on the rise, families are cutting back on food purchases, schools are struggling, and children suffer. School is often the only respite for children during tough economic times; however, the state of the economy is also affecting schools. Budgeting issues are a cause for concern. 

How can schools save money to get through these tough economic times? First, schools must find creative ways to adjust budgets and reduce spending by saving money in many simple yet effective ways.

10 ways schools can save money

energy efficiency

Energy efficiency is an effective way for schools to save money. Simple energy-saving tips include turning off lights, using energy-efficient lighting options, and ensuring timers set on boilers are appropriately set. Some energy-saving tips require more effort and expertise. For example, properly insulating roof spaces, securing windows and doors to make them draught-proof, or generating self-sufficient power using Solar PV options. Implementing any or all of these energy-saving tips can save the school budget.

work with local businesses

Budget cuts often include eliminating or drastically reducing student events. Schools can supplement this budget cut and try to keep some student events by working with local businesses. In addition, many businesses are attracted to the idea of sponsoring school events because it gives their businesses positive exposure in the community.

decrease paper use

Reducing paper use can save schools a significant amount of money. Paper, ink, printers, and time to process everything add up. Schools can reduce paper use by allowing students to turn in work through digital channels, select double-sided copies when copies are required, and by reusing paper when possible. Administrative offices can increase digital communications instead of printing reports or memos. There are many creative ways to go paperless and positively impact the school budget.

recycling

Establishing recycling efforts will help instil eco-friendly practices in students and save money for schools. Recycling saves or earns schools cash in various ways, such as trading in textiles or electronics in exchange for money or vouchers. Also, schools may exchange plastic bottles for points or vouchers at local supermarkets. Schools can take any money or vouchers collected and use them for needs at the school. Metal is another item schools can recycle. Many scrap merchants are interested in anything made of aluminium, brass, copper, iron, and steel.

rent out facilities

Renting space is an idea to bring money in rather than save, but nonetheless, it will help the school budget. Most schools have areas that can be useful for organisations in the community. Offering to rent these spaces creates a way for schools to bring some money in while strengthening community connections. Schools may consider renting out sports facilities or equipment, theatre space for rehearsals or shows, or the school hall for community meetings or other events. Another idea is to rent out the car park for special events nearby.

use staff to perform external services

Teachers are some of the most giving and talented professionals in our communities. Some may even have specific skills they can use to help the school save money — for example, photography or facilitating music and drama workshops.

Other external services, such as fire safety services or PAT testing, can be brought in-house but may require an initial investment for training. While this negatively impacts the budget initially, in the long run, bringing services in-house will save money in the budget.

modernise processes

Modernising work processes and communication processes can save money and valuable time. Technology helps communicate with staff, parents, and students. SMS and email save money and time by eliminating the need to print and distribute informational material. Also, modern methods of communication are more effective. In addition, there are other work processes where technology can offer savings. Technology options may offer savings on teacher training, workshops, moving payroll processes online, most HR tasks, and using parent and student portals to communicate about grades, lessons, and attendance.

negotiate costs

Schools often take the prices offered without shopping around or negotiating for better rates. Accepting offers as it may be due to a "this is how it's always been done" mindset or simply not realising negotiating is an option. Comparing costs and negotiating is an excellent way schools can cut budget costs for things such as bike sheds, furniture, washroom supplies, cleaning products, and many other expenses throughout the year.

automation software

Implementing automation software for education management helps school administration staff streamline manual processes. Automation can simplify email distribution, updating databases, collecting fees, classroom scheduling, and more. Budget software helps school systems cut costs and organise and manage finances. Purchasing a software solution requires an initial investment; however, with many software-as-a-service subscription options available, schools can quickly implement a software solution with a reasonable investment that can potentially produce a fast return on investment.

inventory planning

Managing a school requires stocking inventory for books, classroom supplies, uniforms, stationery, office supplies, janitorial supplies, and many other items needed to run a school properly. However, using inventory may be inefficient and cost more money than necessary. Updating inventory lists and streamlining inventory management can save money by reducing waste and curbing spending on unnecessary items.

understand the budget

The current economic climate is affecting schools and presenting an urgent need that officials must address to keep schools operational. At the school level, one of the most critical aspects of maximising a school budget is having a clear understanding of the budget. Administrators must understand every aspect of the operating budget before making significant changes or cost-cutting efforts.

Looking for new teachers or support staff for your school?

We work with almost 4,800 schools a year and together with our teachers we support more than 85,000 children every day. Whether it’s looking for new ways to modernise and streamline your HR processes, implement new technology or recruit new staff, get in touch to see how we can help.