Our blog on the latest issues affecting the Academy schools sector
Pooling of GAG funds in Multi Academy Trusts (MATs)
June 13, 2019
The pooling of the General Annual Grant (GAG) is permitted by the Academies Financial Handbook and has been since 2013. Here’s how it could benefit your MAT.
Budgeting for Teacher Pay Grant and Pension Grant funding
June 10, 2019
Academies have known for some time that grant funding would be available to cover the cost of rising teacher salaries and the increase in Teachers’ Pension Scheme employer contribution rates.
Professional development – could your trust benefit?
June 4, 2019
The ESFA have set up a ’Governance leadership development programme’ to help develop those people who are in key governance roles at Academy Trusts.
Automated Financial Reporting
May 29, 2019
The Department for Education (DfE) has launched a new academies chart of accounts which is a first step to automated financial reporting.
Why internal audit?
May 20, 2019
A successful internal audit should be a true collaboration between the trust and the auditor, resulting in an open and transparent process that supports the finance team and adds value to the trust.
ESFA write to academies about high executive salaries again
May 13, 2019
On 9 May the ESFA wrote to the Chair of Trustees of 94 academy trusts about levels of executive pay. The latest communication follows a series of letters in recent years; indeed 31 of the 94 trusts who have been written to this time have previously received a similar letter.
Letter from Lord Agnew to Academy Trust Auditors
May 8, 2019
On 30 April, Lord Agnew wrote to all Academy Trust Auditors and whilst this letter was clearly addressed to auditors, it made some interesting points that should be of interest to all academy trusts, not just their auditors.
ESFA write to academy trusts after reviewing forecasts
April 18, 2019
We have been contacted today by some academy trust clients whose Chair of Trustees and Accounting Officers have received letters from the ESFA following a review of their financial data.
Related Party Transactions – ESFA notifications and approvals
March 28, 2019
The ESFA have released summary guidance for academy trusts to declare or seek approvals for related party transactions.