New Financial benchmarking and insights tool (FBIT) now live

Following sector feedback, the DfE have launched their new Financial benchmarking and insights tool, replacing the ‘View my financial insights’ and the ‘Schools financial benchmarking’ website, combining the best elements of the two.

About FBIT

FBIT can be used by anyone working in a role relating to school resource management to:

• benchmark a school’s spending against other similar schools
• identify areas for improvement and share best practice with other schools
• produce a workforce deployment plan using our curriculum and financial planning tool
• easily access commercial resources, guidance and frameworks provided by the DfE
• build a report to share analysis with governors, trustees and senior leadership

The newest financial spend data for local authority-maintained schools has been released on the FBIT, relating to the 2023 to 2024 financial year.

The service has also been launched with a further 3 years of historic data, so schools can see trends in spending.

Register for the webinar

They will be running a series of "Introduction to the financial benchmarking and insights tool" webinars on various dates and times throughout November and early December. Schools can register on Eventbrite.