We are well versed with the wider issues that commonly impact upon academies and, as a result, can offer you the specialist advice required to address these.
We are able to offer the following assistance in providing a fundraising strategy:
- undertaking fundraising studies to test the feasibility of raising the required funds;
- setting up the process for appeals management;
- advising on major donor development and retention; and
- developing marketing strategies which include; market research, press campaigns and advertising.
VAT and tax issues
Our team of VAT and tax experts are well placed to help you minimise your VAT and tax burden, advise on any issues should they arise as well as keep you abreast of new legislation. As a charity your academy should be exempt from corporation tax, but there are instances where profits generated by charities are subject to corporation tax.
A large number of our public sector clients have relied on us to provide effective interim management support, which is often ideal for a wide range of problems including crisis or project management, managing change or providing a short-term stop-gap or skill set.
Our reliable and responsive payroll and bookkeeping team have a wealth of knowledge in school based employees’ pay, including the terms and conditions for all school staff and the statutory regulations regarding teachers’ pay.
How your academy school’s land and buildings are accounted for within the accounts and valued can be crucial to the solvency of the academy. Our team of academy experts can provide you with the necessary advice on technical accounting issues for the correct treatment of your inherited land and buildings.
Responsible Office service
Academies are required to nominate a responsible officer (RO) to take specific responsibility for overseeing the academy’s financial arrangements. The RO should be one of the governors (although not the Chair, nor a member of the Finance Committee), or an appropriate individual with the necessary financial skills to be able to perform the role competently.
The remit of the RO is to provide an independent oversight of the academy’s financial affairs, reporting to the finance committee in an advisory capacity.
Some academies may struggle to find a governor willing to take on this role. We are therefore able to assist, and can either take on the full RO role, or provide assistance to the RO by carrying out the recommended quarterly checks, as outlined in the Academies Financial Handbook. We are already working with a number of academies in these ways. After each session we provide the governing body with a written report to provide independent assurance that resources are being managed in an efficient and effective manner, and that sound systems of internal financial control are being maintained.
The next step
If you would like to discuss the accounting services that we can provide for your academy school, please contact us.
Or for further information on our specialist academy school services download our service brochure.