Our blog on the latest issues affecting the Academy schools sector
Is your academy trust managing risk adequately?
August 14, 2019
The Academies Financial Handbook, effective from 1 September, states that trusts must maintain a risk register. So how should you approach this?
Chief Executive of ESFA issues a letter to academy accounting officers
July 29, 2019
On 19 July 2019, Eileen Milner, the Chief Executive of the ESFA issued a letter to academy trust accounting officers, copied to chairs.
Academies transferring to new Academy Trusts and Grant funding
July 22, 2019
The proportion of academies moving trust and that have received grant funding has decreased from 31 percent in 2016-17 to 26 percent in 2018-19.
Are your monthly management accounts in line with the new 2019 Financial Handbook?
July 10, 2019
The Financial Handbook requires all trusts to produce monthly management accounts which must be shared with the chair of trustees every month.
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.