School & Academy Shorts
The DfE has released guidance on the PE & Sports Premium received by primary schools. The notes explain how much will be received and how schools might choose to spend it. Click here for a copy.
The EFA has published a guide for Academies on the new SORP and FRS102 that academy trusts incorporated before 1 January 2015 will need to use for the period ending 31 August 2016. Transition issues need to be considered now. Click here for a copy of the guide.
The EFA have reminded newly converted academies that they need to notify their Local Government Pension Scheme of the change. For further guidance on responsibilities transferred to the academy trust click here.
The DfE’s School Performance Tables (click here for details) now includes academy trust financial statements for the period 2013 – 2014.
Schools receiving funding for their summer schools must submit their claim by 9 October. Click here for the claim form.
New Academies Welcome Pack
The EFA has updated its welcome pack for new academies – click here for details.
The pack introduces the areas of work, services and systems of the EFA. Whilst aimed at new academies, new headteachers, finance officers and school business managers in established academies will find the pack useful. It will also assist schools converting to academies to plan for post conversion activities.
Details of training to support academies is also provided in the pack.
Academy trusts are responsible for ensuring they have adequate insurances against a variety of risks. Their funding includes £25.00 per pupil for this, in line with that available to maintained schools. Any cost over £25.00, in most cases, has to be covered by the academy from its school budget.
In 2014 the ‘Risk Protection Arrangement’ was introduced for academy trusts as an alternative to commercial insurance. The EFA has reported that in the first year 30% of academies joined the arrangement; and they are advising all academy trusts who have not yet joined to consider whether it would be in their interest to opt in.