Arbor's two financial reports differ from our other reports as they focus on financial performance (school income and expenditure) rather than pupil performance data. They use data published by the Department for Education - Schools Financial Benchmarking data and Academies'Financial Benchmarking data.
The reports are similar, however the data released for Academies is released almost a year out of date by the DfE and so we offer that report for free in recognition of that fact.
Why financial benchmarking?
The reports enable your to benchmark your school's various areas of income and expenditure against other schools nationally (you will only be compared nationally with schools in the same phase e.g. primary), other schools in your local authority, and schools ‘like you.’
The reports not only enable you to identify areas of strengths and weakness in terms of income generation and expenditure, but also to share that easily with your governing body.
See here for a helpful article on the importance of financial benchmarking is important for schools. https://www.gov.uk/guidance/schools-financial-efficiency-top-10-planning-checks-for-governors
How do we determine the financial ‘like-you’ comparison for schools:
First, we filter by all schools in the same phase as you (infant, junior, primary, secondary, sixth form). Then, we filter by schools inside/outside London as this affects your cost structure. Next we filter by size, ensuring comparison to schools with a similar number of students. Finally we take your school’s FSM, SEN and EAL profile, weight these factors 26%, 67% and 7% respectively based on the size of the attainment gaps at KS2, and combine them into a baseline score to find schools with similar demographic intakes to you. Finally we use a statistical algorithm to identify those schools which are most statistically similar to your score.