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.
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.
Good news! Xero has just introduced a fresh new look for credit notes, bringing the design and navigation more in line with the invoicing experience you’re already familiar with. The updated layout makes creating and reviewing credit notes feel more intuitive, with clearer history details, improved feedback when errors occur, and a smoother data‑entry experience overall. For schools, this makes handling refunds for camps or activities, correcting overpayments from parents, or recording supplier credits easier - all while maintaining a strong audit trail. What’s different: Manual Save: Credit notes now need to be manually saved, giving you more control. Protected Paid Credits: Paid credits are protected to ensure your audit trail stays accurate. Detailed History: You can now see more granular detail in the 'History' section, making it easier to track exactly what changes were made and by whom. Improved Error Messages: No more guessing! If something is missing, the new error messages tell you exactly what’s needed so you can approve notes faster. Keyboard Efficiency: For the power users among you, the tabbing and data entry experience is now much more efficient. To explore the updated experience, simply go to Sales > Invoices and select ‘New Credit Note’ . You’ll notice the interface is cleaner, and allocating credits across one or multiple invoices is straightforward.
View our Chalkboard - March 2026: - 2025 Annual Accounts - Important Notices - Banking Reminder - Accessing Higher Interest Rates - Xero Tip of the Month: Save Time With Xero’s New Credit Note Design - Long-Term Investment Strategies for School Reserves - Looking ahead https://public2.bomamarketing.com/email/n9Bb
Schools across New Zealand face common financial pressures, and even experienced Boards and Principals can feel stretched when it comes to managing them. Some of the challenges we often see include: - Staffing costs gradually exceeding budget - Tagged funding not clearly tracked or reported - Cashflow not monitored regularly - Board reports that are accurate but hard to interpret These issues are completely normal, and with the right systems and support, they are manageable. At Accounting For Schools, we specialise in helping Boards and school leaders gain clear, confident insight into their finances so schools can focus on what matters most, their students. Want to see how we can help your school stay on top of finances? Get in touch to learn more.
Every dollar counts when it comes to supporting your school and providing the best possible environment for your students and staff. Fundraisers can be an excellent way to generate additional funds for needs that your budget may not cover, from special projects and extracurricular activities to facility improvements. The key to success is planning carefully and thinking strategically so your efforts have the greatest possible impact. Here are some quick tips to spark ideas: Set clear goals - know what you’re raising money for and communicate it clearly. Leverage your community - parents, whānau, and local businesses often have skills and connections that can help. Pick the right fundraiser - from chocolate and wrapping paper sales to gala events or sponsorship campaigns. Keep it meaningful - fundraisers can also teach teamwork, planning, and other valuable skills to students. For a full guide with fundraising ideas, tips, and planning advice, check out our School Revenue Handbook (pages 4-6). Download it for free from our Resources Hub and get your next fundraiser off to a flying start.
Financial risk is an unavoidable part of running any school. Unexpected expenses, changes in funding, or compliance challenges can have a significant impact if not identified and managed early. Proactively managing these risks is key to protecting your school’s financial sustainability and ensuring your resources remain focused on students’ learning and wellbeing. The following key areas outline practical steps schools can take to identify, manage, and reduce financial risk in a structured and effective way. 1. Identify Key Financial Risks: Understanding where your school may be exposed is the first step. Common risks include: Dependence on a single or limited funding source Budget overruns or inaccurate forecasting Cashflow pressures during the year Fraud, error, or misuse of funds Non-compliance with reporting or audit requirements Regular review by the Board and finance team helps ensure potential issues are identified early. 2. Budgeting and Forecasting: A realistic, well-planned budget is one of the most effective tools for managing financial risk. Reviewing actual results against your budget throughout the year highlights discrepancies early, allowing you to take corrective action before problems escalate. Scenario planning, such as modelling the impact of reduced funding or unexpected costs, can help you prepare for uncertainty. 3. Cashflow Management and Reserves: Monitoring cashflow ensures that you can meet your obligations at all times. Maintaining adequate reserves provides a buffer against unexpected costs or delays in funding, helping your school operate smoothly even during challenging periods. 4. Internal Controls: Strong internal controls reduce the risk of error, fraud, and mismanagement. Key practices include: Clear delegation of financial authority Separation of duties for approvals and payments Regular reconciliation and review processes Transparent reporting to the Board Documented policies and procedures also help maintain consistency, particularly during staff changes. 5. Compliance and Reporting: Staying up to date with Ministry requirements, audit obligations, and other regulatory changes is essential. Accurate and timely reporting not only ensures compliance but also supports informed decision-making by your Board. 6. Planning for Uncertainty: Embedding risk awareness into everyday financial practices prepares you for unexpected events. Scenario planning, regular review of policies, and maintaining contingency funds all help reduce surprises and enable confident decision-making. Managing financial risk is a core part of good school governance. By identifying risks early, maintaining strong controls, and planning for uncertainty, you can protect your school’s financial position and continue focusing on providing high-quality education for your students.
View our Chalkboard - February 2026: - 2025 Annual Accounts - Important Notices - 2025 Notional Lease Figures Now Available - Xero Tip of the Month: Review Your Repeating Bills - Managing Risk in School Finances: Protecting Your School’s Future - Looking ahead https://public2.bomamarketing.com/email/ZLV6
At the start of the school year, it’s a good idea to review your repeating bills in Xero to ensure they’re still accurate and up to date. Repeating bills are often created once and then left running in the background. Over time, amounts may change, services may no longer be required, or accounts may need updating. If they aren't reviewed, outdated repeating bills can lead to incorrect expenses and inaccurate reporting early in the year. Taking a few minutes now to check your repeating bills helps keep your financial information accurate and reduces the need for corrections later. For those who need a reminder, you can find your repeating bills under Purchases > Bills > Repeating and update or stop any that are no longer needed.
