To assist your school in taking on the increased freedom and responsibility that comes with becoming an academy we are able to provide a number of services to help you be fully prepared.
We are able to:
- undertake a due diligence review of the financial, governance and funding implications of conversion for your school;
- identify alternative methods of financial support if your school has a funding deficit; and
- provide guidance on the obligations associated with the Teachers’ Pension Scheme and Local Government Pension Scheme.
Annual accounts preparation
We have extensive experience of the accounts preparation process and so are able to produce your academy’s annual accounts to a high standard in a cost effective manner. Our services include:
- preparing accounts from your academy’s year end trial balance;
- assisting your governors with completion of the Trustees Annual Report;
- ensuring the accounts fully comply with your Academy’s Financial Handbook, including the latest updates; and
- dealing with all aspects of accounts submission to the Young Persons Learning Association and Companies House.
Supporting your finance function
We can support your financial function in the following ways:
- payroll bureau and bookkeeping services;
- assistance with your Finance Manual including risk analysis and internal controls;
- assistance with budget setting;
- preparation of monthly management accounts;
- monthly maintenance of budgets and reporting to governors;
- transaction processing;
- grant applications;
- completion of Teachers’ Pension Scheme EOYC and Local Government Pension Scheme returns;
- interim financial management services to provide cover for staff sickness, annual leave, etc; and
- Responsible Officer (RO) appointments, preparation of RO report and extended areas of internal control beyond the minimum requirements of the Academies Financial Handbook.
The key areas of financial compliance that we can assist you with are:
- establishing key financial policies and procedures including risk management and internal controls;
- providing information for the Local Government Pension Scheme and FRS17 reporting requirements;
- providing guidance with training governors in their responsibilities as company directors and charity trustees;
- company secretarial obligations; and
- setting up your accounting system.
The next step
If you would like to discuss the accounting services that we can provide for your academy school, please contact one of our academy schools specialists at your nearest location, or complete the contact form.
Or for further information on making the transition to academy school status download our sector brochure.