1. SWALSS – Academy status - financial risks and opportunities
Smart decisions. Lasting value.
SWALSS – Academy status - financial risks and opportunities
January, 2017
Guy Biggin, Partner (Non-profits)
© 2016 Crowe Clark Whitehill LLP

2. Academy conversion – risks and opportunities
Autonomy
Government funding – access to grants - GAG, Devolved Formula Grant, Capital Improvement Fund, Rates Grant - but limited funds available
Academy Financial Handbook, Accounts Direction
Budget accountability
Governors / Trustees

3. Being a governor of an academy
Being a governor – financial responsibilities
Key controls
Types of assurance
Risk based assurance

4. Being a governor – setting the scene
Schedule of financial requirements
Financial oversight
Financial planning
Internal control
Financial monitoring and management
Proper and regular use of funds
Audit requirements

5. Types of assurance External audit Internal audit Responsible officer
Extended external audit assurance
Management / management information

6. Linking strategy to risk management

7. Being a MAT – the (financial) opportunities
Scheme of delegation - communication
Economies of scale – more funds for education
Internal controls – documented
Carry foreword

8. How do you structure a Multi Academy Trust
Primary, Secondary or combination of both?
Centralised
Centralised finance department rather than at individual schools
Hub Structure
Centralised treasury department
Devolved finance (limited)
Potentially well suited to MATs with multiple locations
Cluster Structure
Devolved finance department at schools
Contribution to trusts running costs
Common when constituent academies are involved for procurement

9. Key features

10. Advantages

11. Disadvantages

12. Growing the group Scaling up infrastructure
Finance teams, HR support, IT services etc.
Due diligence process
Robustness, key areas property, liabilities, pension obligations, private accounts, PFI
Staffing
Rationalisation and harmonising T&Cs

13. Thank you
Guy Biggin, Partner Phone +44 (0)