The Education and Skills Funding Agency have released updated guidance relating to the financial requirements for Single- and Multi-Academy Trusts. These changes will be coming into force on the 1st September 2019.
The full list of changes can be found on the government website or in the 2019 edition of the Academies Financial Handbook and we strongly recommend that all academy members, trustees, accounting officers, chief financial officers and auditors read the document prior to the regulations coming into effect.
The Academies Financial Handbook sets out the financial management, control and reporting requirements that apply to all academy trusts. It describes a financial framework for trusts that focuses on principles rather than detailed guidance and reflects their accountability to Parliament and to the public.
Compliance with the handbook is a condition of each trust’s funding agreement.
The education and skills funding agency
