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Financial oversight in academy trusts

Understand how trust boards oversee financial performance and make sure money is well spent.

Guidance
12/07/2022

Trust boards are responsible for overseeing the financial performance of their trust and making sure its money is well spent – this is one of the core functions of governance.

This means ensuring:

  • value for money
  • money is spent in line with strategic priorities
  • leaders are held to account
  • compliance with the rules, including charity law, company law, the Academy Trust Handbook, their funding agreement, and controls put in place by the Education and Skills Funding Agency

This page covers:

  • delegating oversight functions
  • approving the trust’s budget
  • monitoring the budget
  • ensuring financial efficiency
  • resource management tools

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