Financial Survey for Schools
The Financial Survey for Schools (FSS) is the leading source of benchmarking data for Australian and international non-government schools. Joining the FSS not only empowers you with data-driven decisions but also contributes to sector innovation and improvement. Every participant adds to the comprehensive dataset, benefiting all schools. So why wait? Participate to support this benchmarking resource that sets the standard for school financial sustainability and drives industry progress.
About 600 schools representing over 70% of total independent school enrolments participate in the survey each year, which provides accurate and reliable benchmarking data.
Tailored benchmarking reports help identify and understand key areas of improvement by measuring and analysing your school’s performance against similar schools.
Participation starts from as little as A$1,045 including GST or A$523 including GST for schools of less than 250 enrolments.
Through your individual somerset portal you have access to a suite of self-service tools which include:
- Financial Performance Report — comparing performance with similar schools to identify and quantify your schools’ strengths and weaknesses. Report includes income, expenditure, staffing,operating surplus, enrolments, cashflows, liquidity, asset reinvestment, debt servicing, and financial sustainability.
- IT Benchmarking Report — compares IT staffing, income and expenditure with similar schools
- ELC Benchmarking Report — compares Early Learning Centre operations with similar centres
- Staff Estimator — use sample averages to indicate staffing based on expected enrolments.
- Historical Report — historical trends in your school’s performance for up to six prior years to highlight changed circumstances and stimulate timely adaption – key to financial sustainability (additional subscription required).
- Somerset Key Indicator (SKI) Report — compare trends in your future performance to tailored sample benchmarks. A shading system helps interpret results to assess risk and develop reliable,
informed, and sustainable strategies (additional subscription required). - SKI Scenario Builder™ — adjust metrics such as enrolments, staff, income or expenditure to automatically forecast future financial results and reassess risk. This report helps schools easily
evaluate, on the fly, the financial impact of different scenarios to inform decisions (included with SKI subscription). - Demographic GEO Mapping — a web-based future enrolment demographic tool (additional subscription required for Geo Mapping Plus).
Visit TRAINING VIDEOS page to find our ‘How to…’ Instructional Videos that demonstrate how to use these Somerset Education tools.
Results of satisfaction survey conducted April 2024
10 out of 10 recommend FSS participation to others.
What schools say about the Financial Survey for Schools
Somerset Education Experts have created this amazing financial performance report which helps both finance and non-finance people to clearly and easily understand finance results of a school. The report is invaluable.
2024, Indika Eramudugoda Gama, The Essington School Darwin, NT
The discipline of the Somerset tools has helped us at Newman College to ensure that we measure the key financial trends to ensure that we achieve our financial objectives.
2024, Steve Halley-Wright, Director Finance and Operations, Newman College, WA
“John, I have always admired, in particular, your great gift of communicating financial information to Business managers and to lay people on boards! That’s a truly God- given ability/gift you have! So you have a “very well done” from me for all your life’s work and endeavours to date! Your professional and helpful service to the non- government schools’ sector goes far beyond the fees you charge and should be appreciated by all those you serve through your work!”
“The Somerset Reports are a vital part of understanding our school’s sustainability and operations.”
2023, Peter Wattera, Business Manager, Shire Christian School
“It’s a must have for any Business Manager or Bursar who wants to keep pace, if not ahead, of the industry and market.”
2023, Richard Luxford, Business Manager, Brigidine College
“The information in the report is very specific for the school, but also setting up our place within the broader community. This enabled the Board to think more laterally with confidence about exactly where the school stands now and could be in the future.”
2023, Barry Scolnik, Business Manager, Elonera Montessori School
“The Board love the report. They can see the ticks and question marks and we provide a reason for the question marks or what we need to watch so therefore what we need to do. It makes it easy for non-financially literate people to understand in a nutshell how we are going. …”
2023, Elizabeth Harris, Finance Manager, Macarthur Anglican School
“Somerset is invaluable financial data for governance purposes. It highlights areas of potential concern and gives rise to confidence to reinvest. John and the team are a great asset to the independent school sector. Thank you.”
2023, Andrew Lowry, Business Manager, Covenant Christian School