RM Tech Talk issue 1

Welcome to our monthly roundup of insights to help inform your school or trust’s digital strategy.

IFRS 16 - a new lease of life for leasing?

Finance is an essential part of any digital strategy. New rules about leasing offer schools and trusts increased flexibility when deciding how to fund upgrades and acquire new technology.

IFRS stands for international financial reporting standards, and IFRS 16 Maintained Schools Finance Lease Class Consent 2024 was signed on the 26th of March. It allows maintained schools to enter into lease agreements for certain items from 1st April 2024.The arrangements for academy trusts will follow suit from 1st September 2024.

The main points are:

• The new standard removes the distinction between finance and operating leases, requiring all leases to be reported on the balance sheet as both liabilities and assets.
• Schools must still obtain approval for transactions classified as borrowing, but the Department for Education (DfE) has pre-approved certain assets like IT equipment.
• IFRS 16 allows schools to finance more types of equipment with more tailored lease terms, potentially leading to lower annual costs.

Lindsay Screen , from RM’s leasing partner edde, provides more detailed information in a guest post on the RM blog.

Free KS2 & 3 STEAM lessons with RM Starflight Academy

RM Starflight Academy is back. In association with the UK’s first vertical launch space facility, Saxavord Spaceport, we’re creating an exclusive virtual job camp hosted by NASA-trained astronaut teacher Mike Mongo.

RM Starflight Academy is aimed at KS2 and 3. The sessions include live lessons and will explore STEAM-related topics.

Interested in joining us on a voyage into the future of living, working, and playing in space? Register your interest now.

What is it they say about looking after the pennies?

When you need a piece of IT hardware or some accessories at short notice, the temptation can be to have someone order it from an online retailer like Amazon. You can work out the finance implications later, right?

Well, you can. But it’s better all round if you stick to a single source that makes it easy to track your spending and doesn’t create more work down the line. The RM online store does precisely that.

It has an ever-expanding range of tried and tested tech items for schools and trusts, with stock levels shown in real time. Keeping track of spend is easy for finance teams. Orders are placed with a purchase order, and you pay by invoice.

Our client Karen Bennett, Senior Finance Officer at Alpha Academies Trust told us about their experience using the RM online store.

"The RM online store is very easy to use and has an extensive range of technology products for schools and trusts. Buying the items we need is simple, with no waiting for quotes. We know we’re getting great prices with next-day delivery in most cases, and the order history gives us visibility of what we spend across the trust."

Register by the end of May, and you could win a ViewSonic G1 75" interactive display.

Events and webinars

If you’re considering how to best develop the use of technology in your school or trust, our Educational Consultancy Manager Mel Parker will provide some valuable insights at the Schools and Academies Show on 1st May at ExCel London. Her 30-minute session, ‘Developing and Embedding a Digital Strategy for the 22nd Century Classroom’, starts at 10:55. We would also love to see you on our stand, G44.

Our three-part series of cyber security webinars in association with Trend Micro starts on May 14th. Discover practical knowledge and strategies to help combat cyber threats.

Keep an eye out for more on our events page.

That’s all for the first edition. We’ll be back next month with more. Until then, keep up with the latest on technology for schools by following us on LinkedIn.