Thousands of schools’ accounts have been published today
(Tuesday 6 November), demonstrating the transparency of the
academy system and the Government’s commitment to taking
action against those not following the rules.
Accounts covering around 7,000 academies have been
published online and laid before Parliament for the second
year running – allowing the public and Parliament to
scrutinise the accounts of any academy school.
New information published today shows that 97% of academy
trusts submitted financial returns to the Department for
Education on time, proving they are using public money
responsibly and complying with the clear rules set out in
the Academies Financial Handbook.
The data also shows that only 88 academy trusts –
equivalent to 3% nationwide – submitted two or more
financial returns late in the 2017/18 academic year. Those
trusts have been named publicly to improve compliance and
help the department hold those schools to account and make
sure every pound is spent as efficiently as possible.
The publication of this information is the latest step
taken by the Education and Skills Funding Agency (ESFA) to
ensure academy finances are in good order, and trusts are
more accountable for the public money they spend.
This comes after Education Secretary, , announced a clampdown
on related-party transactions – supplies to academy trusts
from linked individuals or organisations – with trusts
required to seek approval from the ESFA for all payments
over £20,000 from next April.
Minister for the School System said:
Since expanding the academies programme we have made sure
that increased autonomy is supported with increased
transparency. And this transparency means that we know
and can take action where trusts are not following the
clear rules we have laid down.
Providing financial returns on time is just one example
of how we monitor and scrutinise academies to ensure
their financial health is robust and they continue to be
more transparent in their reporting than local authority
schools.
It’s encouraging that the overwhelming majority reported
on time, and we are taking action in the small number of
cases where we find that this has not happened.
Other new accountability measures introduced for this
academic year (2017/18), mean academies must notify the
ESFA of:
- Their total salary expenditure, broken down into
teachers, leadership, administration and support;
- The job title and role description of all staff whose
full time pay package exceeds £100,000 per year; and
- Whether each role is focused on curriculum and
education leadership, or school business management
leadership.
All academy trusts must abide by the Academies Financial
Handbook, which outlines the Department’s expectation in
how they should operate and examples of best practice.
The information on academies’ financial reporting and the
Academy Sector Report and Accounts (SARA) coincides with an
additional publication from the Department for Education to
make the system more transparent.
A new, dedicated webpage for Headteacher Boards – advisory
committees that provide support to Regional Schools
Commissioners – has been designed to give a greater insight
into the decisions taken by Regional Schools Commissioners.
The webpage will give parents, teachers and school leaders
easier access to information about decisions taken to raise
standards across the country. The new page will include:
- a clear explanation of the role of Regional Schools
Commissioners;
- meeting minutes and agendas – published with six weeks
of a meeting;
- schedules of meetings; and
- meeting templates to clarify the information and data
Headteacher Boards consider.
