Academies: Finance

(asked on 24th October 2017) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, whether her Department or any of its agencies hold reports that raise concerns on the financial situation in multi-academy trusts; and if she will make a statement.


Answered by
Robert Goodwill Portrait
Robert Goodwill
This question was answered on 30th October 2017

The Education and Skills Funding Agency (ESFA) periodically visit academy trusts to assess their financial management and governance arrangements; this includes multi-academy trusts reviews. We do not routinely publish these assurance reports. Where a concern is identified, ESFA will respond proportionate to the severity of the risk, taking into account the scale and nature of the issue, and any local circumstances. Where there are significant concerns about financial management or governance in an academy trust, ESFA may visit the trust to investigate and/or issue, and publish, a Financial Notice to Improve, available here: https://www.gov.uk/government/collections/academies-financial-notices-to-improve. The trust must comply with the terms of a Financial Notice to Improve; failure to comply will be deemed a breach of the funding agreement.

Reticulating Splines