Important update for Academy Trusts – website financial requirements
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Changes coming into force from 1 September 2019 have been released by the Education and Skills Funding Agency, relating to financial requirements for Single and Multi-academy trusts. The complete list of changes can be found in the Academies Financial Handbook here https://www.gov.uk/government/publications/academies-financial-handbook.
This handbook sets out the financial management, control and reporting requirements that apply to all academy trusts. The framework focuses on principles rather than detailed guidance reflecting accountability to Parliament and the public. Compliance is a condition of the funding agreement and all academy members, trustees, accounting officers, chief financial officers and auditors are urged to read the handbook before these regulation comes into effect.
Financial information you need to publish on your website
In addition to the above, from 1 September 2019 you’ll need to make sure you display the following financial information on your website:
- Up to date details of Governance arrangements
- Gender pay gap information
- Financial notice to improve
- Audited accounts
If you need help updating your school website with this information before 1 September 2019 just contact your Education Account Manager.