HARROWSCHOOL

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. 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.

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 HarrowSchool, The John Lyon School and Harrow School Enterprises Limited and managing financial relationships with other related entities and parties.
  1. 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

  1. 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:

  1. Advising the Bursar on the optimal staffing of the Accounts Department.
  2. Conducting the department’s annual appraisals and monitoring their training needs.
  3. 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.

  1. To assist the Bursar in implementing the Governors’ strategic financial objectives.
  1. To contribute to the preparation of costed 5-year management plans.
  1. To prepare financial appraisals of particular projects.
  1. To be responsible for, and ensure compliance with, benefits in kind/PAYE regulations.
  1. To maintain analyses of costs and other statistical financial records and provide input to financial benchmark surveys.
  1. To ensure effective review of selected financial publications and provide recommendations to the Bursar as necessary.
  1. To investigate and promote ways of improving financial efficiency, including the introduction, where appropriate, of improvements to the accounting software and technology. Liaise with consultants, as necessary, in the achievement of these objectives.
  1. To deal with the School’s rating and council tax assessments.

MAIN RESPONSIBILITIES AS FINANCIAL CONTROLLER/CHIEF ACCOUNTANT

  1. 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 HarrowSchool, HSEL, and The John Lyon School.

c)The preparation of, and general advice on, financial policy.

  1. 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.
  1. 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.
  1. To assist in the presentation of statutory accounts at governors’ meetings when required.
  1. 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.
  1. 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.
  1. To prepare internal financial management reports and briefing papers for the Bursar and others. Internal management accounting information including cash flow statements and forecasts, should be presented on a monthlybasis to ensure effective control of expenditure and efficient accounting.
  1. To conduct or delegate Harrow School’s routine monthly accounting tasks. The main ones are listed at Annex A.
  1. 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.
  1. To be responsible in liaison with the Assistant Bursar for an accurate and current Fixed Asset Register.
  1. To be responsible for accurate and timely tax returns and, with professional advice where necessary, prepare papers recommending options for mitigating potential VAT and any other tax liabilities.
  1. To liaise with external auditors on all matters connected with the annual audit of the School’s accounts and other external accountancy advice.
  1. To oversee the operation and administration of the Advanced (composition) Fees Schemes for Harrow and the John Lyon School.
  1. To provide in conjunction with the Personnel Manager the required information to the Pensions Administrator in connection with the School’s pension schemes for both teaching and non-teaching staff.
  1. To produce, in conjunction with the Assistant Bursar (Finance), papers for the School’s Investments Committee.
  1. To administer the financial aspects of School trips and audit the accounts when the trip has been completed.
  1. To liaise with the Harrow Development Trust to ensure effective and correct inter-entity accounting and transfer of funds.

ANNEX A TO FINANCE BURSAR’S JOB DESCRIPTION

Routine Monthly Accounting Tasks for Harrow School

  • Scrutinising and authorising payment of invoices on behalf of the Bursar.
  • Checking journals.
  • Checking all management reports before issue and resolving questions that arise.
  • Checking cash receipts/payments.
  • Preparing management reports on certain key areas of the I&E account (e.g. salaries, energy and sundries).
  • Issuing budget prints to support budget holders and monitoring queries on academic budgets available on the intranet.
  • Preparing monthly balance sheet reconciliation (including net pay, boys’ charges and recoveries).
  • Salaries: posting monthly salaries in the accounts and issuing related recharges for salaries and other staff on-costs every two months
  • Ensuring the production of accurate monthly cashflow statements for review by the Bursar.

NAS Feb2009

HARROWSCHOOL

FINANCE BURSAR

PERSON SPECIFICATION

Essential / Desirable
Education
  • A good general education
  • ACA/FCA
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Experience
  • A similar position within an educational environment
  • A similar position within another form of charity
  • Managerial position within accountancy
  • Experience of providing robust, strategic financial advice and management information up to Board level
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Skills
  • The range of accountancy and financial skills necessary to carry out the responsibilities in the job description
  • IT literate with experience of using Word for Windows, Excel spreadsheets and databases, Email and internet
  • Ability to deal confidently with enquiries from parents and members of staff
  • Excellent communication skills – oral and written
  • Diplomatic: very good interpersonal skills on a range of levels and with a wide variety of people
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Personal Qualities
  • Thoroughness, excellent eye for detail
  • A pleasant, outgoing personality, with a strong sense of humour
  • Highly motivated but patient
  • Flexibility: prepared to work long hours when necessary
  • Equanimous: the ability to think and work quickly and calmly whilst under pressure, working to deadlines
  • The ability to prioritise and delegate
  • Discretion and confidentiality
  • Initiative
  • A high standard of personal presentation
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This position is subject to an ENHANCED Criminal Records Bureau Disclosure in the event of a successful application. Copies of the School’s Code of Practice and Policy on the Recruitment of Ex-Offenders are available from the Personnel Department.

HARROWSCHOOL

FINANCE BURSAR

Addendum

Responsible to:The Bursar

DRAFT TERMS AND CONDITIONS OF EMPLOYMENT

(Full Particulars of Terms of Employment will be provided on appointment)

Hours of work:

Hours of work are up to 48 hours per week on average, throughout the year. Work patterns are however irregular and flexibility will be required. Long hours will need to be worked at certain times of the year, especially during the preparation of accounts for year end.

Salary:

Competitive salary in accordance with qualifications and experience. To be discussed at interview

Holidays:

a) 28 days per year (calculated pro rata for the first 12 months) including all Bank Holidays (unless they fall within term time, e.g. May Day when a day may be taken in lieu)

b) 2 additional days of privilege leave may be taken in liaison with the Bursar

c) Non Bank Holidays over the Christmas period from Christmas Eve to 31st December inclusive.

As b) and c) are discretionary leave they do not form part of your contractual entitlement and so will not be paid if not taken in the event that you leave the School during the holiday year.

Pension:

Eligible to join the Support Staff contributory pension scheme on

commencement of employment, subject to certain conditions.

Other Benefits:

Lunch available free of charge in dining hall

Private Health Insurance

Honorary membership of The Hill Club (Sports Club)

Member of Shepherd Churchill Dining Room

Membership of School Golf Club

Subsidized membership of Harrow Lawn Tennis Club

10% discount on cash purchases from School Shop

10% discount on cash purchases from Works Department

Retirement age:

65