Guiding Principles to Achieve a Healthy Work-Life Balance
October 20, 2022
At the Xerocon Conference 2022, we heard from inspiring speaker Kemi Nekvapil, who invited us to consider our wellbeing within ourselves, prioritising our self-care to feel nourished, happy, and fulfilled. The key takeaway message from this talk was that we should do something daily that brings us joy and excitement. Without a balanced life, how can we succeed?
As a result, we have put together some guiding principles to consider when it comes to taking time out to recharge and build a sustainable plan for you and your team to focus on wellbeing.
- Self reflection: In order to move towards balance, we need to first understand what aspects of life may be off-centre. For example, do the different areas of your life work together harmoniously – or do you experience career and the rest of your life as almost incompatible? Do the various aspects complement each other rather than compete? If our careers - and sanity - are to last, creating professional and personal balance is a top priority.
- Vibrant Values: The balance you enjoy depends on how much you are expressing the qualities and experiences you cherish the most, such as creativity, peace, success, and love. Values are the why of goals, and speak to the deepest level of motivation. They provide vision, vitality, and vibrancy for your life. Values touch on the core of who you are, and lead you to do what is uniquely you.
- Stress-management: Part of effective stress management involves identifying and addressing pressure factors in your life. Change in these areas can take some time. However, there is much that you can do immediately to have a more relaxed experience. You may not be able to alter the events of your day – yet how you react is within your circle of influence. Some people feel calm with breathing exercises, taking a brief walk, or making themselves a coffee. What matters is that you find what works best for you.
- Self care: Remember back to the last time you were sick – how did that impact your day, your week, and your responsibilities? Taking care of yourself first is certainly not selfish. In truth, unless you attend to your own welfare, you won't be able to fulfill your duties as a professional. Self-care means attending to the whole person – body, emotions, mind, and spirit. What refuels and nurtures you emotionally and spiritually? Balance your busy schedule with revitalizing leisure, by doing something you love daily.
Establishing a healthy work-life balance isn't always easy, but it can be achieved by understanding and prioritising your self-care in order to identify which changes will make the most significant impact in your work-life balance journey.
Expanding a school or launching new programmes is an exciting step, but it also brings financial challenges that require careful planning. Strong financial planning helps ensure growth is sustainable, risks are managed, and resources are allocated effectively. To support successful growth, schools should have a clear financial framework in place before committing to any major expansion decisions. This provides a strong foundation for decision-making, helping leaders assess whether plans are affordable and aligned with long-term financial priorities. The following steps outline how schools can approach effective financial planning. Steps for Effective Financial Planning: Define the Scope and Objectives: Clearly outline the goals of the expansion or new programme, including expected costs, required resources, and anticipated benefits . Develop a Detailed Budget: Estimate all costs, including staffing, facilities, equipment, technology, and ongoing operational expenses. Include contingency funding for unexpected costs. Forecast Cash Flow: Consider how income (such as fees, grants, or donations) will align with expenditure, ensuring sufficient liquidity throughout each stage of the project. Assess Funding Options: Explore funding sources such as school reserves, government grants, sponsorships, or loans, and ensure these align with the school’s overall financial strategy. Evaluate Financial Risk: Identify potential risks, such as lower-than-expected enrolment or increased costs, and plan appropriate mitigation strategies. Monitor and Review: Regularly track spending against the budget and adjust plans where needed to stay on course. The Benefits of Planning Thorough financial planning helps schools expand responsibly, avoid cash flow pressures, and ensure new programmes are sustainable and successful. It also provides transparency and confidence for trustees, staff, and the wider school community. At Accounting for Schools, we support schools with practical financial planning guidance to help make expansion and new programme decisions well-informed and sustainable. If your school is considering growth or new initiatives, please feel free to get in touch with our team.
Tracking categories are a powerful tool in Xero for schools, but they only deliver meaningful and accurate reporting when used consistently. As schools evolve throughout the year, tracking setups can quickly become outdated if they are not regularly reviewed. To ensure your reporting remains accurate and useful, we recommend periodically reviewing your tracking setup to confirm: New funding streams are being captured correctly Existing departments or activity categories are still relevant Reporting continues to align with Board and management requirements Regular maintenance of your tracking categories helps ensure your reporting remains consistent and reliable for Board reporting and decision-making. If you would like a refresher on setup, you can refer to our September 2022 Xero Tip - How To Use Tracking Effectively.
View our Chalkboard - May 2026: - 2025 Annual Accounts - The Final Stretch - Important Notices - Xero Tip of the Month: Keep Your Tracking Categories up to Date for More Accurate Reporting - Welcome to the Team: Abel - Financial Planning for School Expansion or New Programmes - Looking ahead https://public2.bomamarketing.com/email/gAy6
Fundraising plays a vital role in supporting school communities, funding extracurricular activities, resources, and special projects that fall outside core curriculum delivery. However, without clear tracking and reporting processes, it can quickly become difficult to maintain accuracy and transparency in financial reporting. Establishing a structured approach helps schools maintain trust with their community and ensures fundraising income is accurately reflected in financial statements. Best Practices for Tracking Fundraising Income Separate Fundraising from Other Income Streams: Create distinct codes or categories within your accounting system (such as Xero) for each fundraising activity. This helps ensure income and related expenses are clearly matched. Record Income at Source Level: Where possible, track income by event or campaign (e.g. gala, sausage sizzle, online donation drive). This allows schools to assess which activities are most effective. Match Expenses to Fundraising Activities: Include all related costs such as venue hire, materials, or promotional expenses. This provides a true picture of net fundraising performance. Use Consistent Naming Conventions: Standardise naming across all entries (e.g. “2026 PTA Gala” rather than variations like “Gala Night” or “School Gala”). Consistency improves reporting accuracy and reduces errors. Reconcile Regularly: Reconcile fundraising accounts monthly to ensure all income has been received and correctly allocated. This is especially important during busy event periods. Track Online and Cash Donations Separately: Different payment channels require different reconciliation processes. Ensure online platforms, cash collections, and bank transfers are all individually tracked. Reporting Fundraising Results Effectively Clear reporting is just as important as accurate tracking. Schools should aim to provide: Summary reports per campaign (income, expenses, and net result) Year-to-date fundraising totals Comparisons against previous years or targets Breakdown by fundraising type This level of reporting supports better decision-making and helps school leadership understand the true impact of fundraising efforts. How Accounting for Schools Can Help At Accounting for Schools, we can help you build robust financial systems and structured reporting frameworks that make fundraising tracking and reporting simple, accurate, and transparent. With the right systems in place, you’ll gain greater visibility over what’s working, where improvements can be made, and how your fundraising efforts are contributing to your school’s broader goals.
Say goodbye to tab-jumping and constant back-button clicking. Xero’s Quick View panel is here to make bill management significantly faster. With split-screen editing, you can now review, edit, and approve bills without ever losing sight of your main list. How to Use Quick View for Bills: 1. Under Purchases, select Bills 2. Click the View (eye) icon next to any bill to slide open the split-screen panel. 3. Within the Quick View panel, you can: Approve bills quickly with Approve & Next or arrow buttons Edit bill details and line items instantly Check attachments - View the source invoice alongside the data entry. Update supplier info or adjust payment dates Resize the panel or show/hide columns to suit your workflow Next time you’re working through your payables, use Quick View to speed up your workflow and complete your bill processing in record time.
View our Chalkboard - April 2026: - 2025 Annual Accounts - Important Notices - Fuel Costs and School Budgets - What to Watch - Xero Tip of the Month: Faster Bill Management With Quick View - How to Track and Report Fundraising Income - Looking ahead https://public2.bomamarketing.com/email/DA0q
What would happen if your school’s key finance staff left tomorrow? In many schools, critical tasks like budgeting, payroll, and cash flow management live inside the head of a single individual. Without clear documentation or a succession plan, a sudden departure doesn't just cause stress, it creates significant financial risk. To protect your school, take a moment to assess your resilience: Are key financial processes documented? Does more than one person understand your systems? Are delegations and approvals clearly structured? Do you have external support if needed? Succession planning isn’t about expecting someone to leave; it’s about protecting your school’s financial stability and ensuring continuity. Planning for the unexpected ensures your school can keep running smoothly, even during transitions. By investing a little time now in documenting processes, cross training staff, and setting up reliable support, you safeguard your school’s finances and give yourself peace of mind.
Is your school or kura doing amazing things in education? Nominate them for the New Zealand Education Excellence Awards and get their hard work recognised! These awards, launched by the Ministry of Education, celebrate schools and kura excelling in: Excellence in raising student achievement Excellence in student engagement and attendance Excellence in quality teaching and instruction Excellence in educational leadership Anyone can nominate a school or kura, including students, whānau, staff, or members of the wider community. Nominated schools are then invited to submit a full application with evidence of their achievements. Nominations close Friday 10 April, and applications close Friday 1 May. Winners will receive $20,000, and finalists will be formally recognised at a national awards ceremony in Wellington on Wednesday 24 June. To access the full details on the nomination and application process, assessment criteria and conditions of entry, visit: https://bit.ly/4kT5xGB
School reserves are more than just a safety net - they’re a vital tool to ensure financial stability and fund future initiatives. Managing these reserves effectively requires a long-term perspective and a clear strategy. Why Long-Term Planning Matters: Reserves give schools the flexibility to: Invest in infrastructure or technology upgrades. Smooth out cash flow during low-income periods. Support unexpected expenses or emergencies. Key Investment Strategies: Define Your Goals: Understand what the reserves are for- capital projects, emergency funds, or future programs. The purpose will shape your investment approach. Assess Risk Tolerance: Schools typically need a conservative approach. Consider low-risk options such as term deposits, government bonds, or high-interest savings accounts. Diversify Investments: Even within conservative options, spreading funds across different products can help reduce risk. Monitor and Review: Regularly review reserve balances and investment performance to ensure they align with your goals and the school’s changing needs. Seek Professional Advice: Financial advisors can provide tailored strategies to balance growth and security for school reserves. The Benefits of a Strategic Approach A well-planned investment strategy maximises returns while protecting the school’s financial future. By planning ahead, schools can fund essential programs, weather unexpected financial pressures, and maintain long-term stability. At Accounting for Schools, we help school leaders develop clear, effective strategies for their reserves - ensuring funds are secure, productive, and aligned with your long-term vision.
