academy trusts | Schools Week

Academy trust loses spending records after finance system switch

An academy trust appears to have lost access to financial data from longer than two years ago after changing its management systems. A director at the University of Wolverhampton Multi Academy Trust told Schools Week the trust no longer has a license to access its previous financial system, and so could not fully respond to […]

Former academies minister faces accusation of cronyism

Former academies minister Lord Nash has been accused of “threatening to allow” an academy trust to “become financially unviable” unless it appointed his former business associate as chair. Steve Munby, former chief executive of CfBT Schools Trust, which sponsors CST Academy Trust, has revealed the tale in his new book, accusing Nash of “abusing his […]

Academy trust raids £7.7m reserves to resist cuts

An academy trust has set aside half of its reserves to prop up its budget rather than make cuts to balance its books. Trustees at Southfields MAT used £1 million from its reserves last year as a “contribution” to the budget of Southfields Academy, and plan to use another £3 million until 2020-21. Reserves will […]

Investigation: The highs (and occasional lows) of academy CEO pay

Nearly half of the academy trusts ordered by the government to justify high salaries paid their chief executives more last year. Three paid their leaders an extra £40,000 or more, with another handing out a £26,000 bonus – despite the trust shedding schools. Just one in seven paid their chief executives less last year, although […]

Kerching! The academy trusts raising millions through fundraising

Academy trusts are raising millions of pounds through fundraising, with one trust posting “record” levels of parental donations. Sector leaders say the findings, based on annual accounts for some of the country’s biggest trusts, show there is a “deepening social divide” as government funding is squeezed. Ormiston Academies Trust has received £2.7 million since April […]

Academy trust criticised for taking on debt-ridden schools

An academy trust urged to expand by its regional schools commissioner was later rapped by the government for taking on schools that were struggling with debt. Board minutes from September 2017 to September 2018 for the Nova Education Trust show that it was encouraged to expand by John Edwards, the RSC for East Midlands and […]

DfE shells out £27m to prop up struggling academies

The government handed out nearly £4.5 million to prop up cash-strapped academies run by the failed Schools Company Trust during the year it announced closure. A Schools Week investigation has also uncovered that the new trusts brought in to take over the Schools Company academies will now be saddled with repaying most of the debt. […]

Trust hopes PGCE ‘franchise’ will boost Russell Group grad recruitment

A trust is in talks to “franchise” a university’s PGCE programme, allowing it to dodge UCAS recruitment and target more Russell Group graduates. The STEP academy trust, which has 14 primary academies in south London and East Sussex, is finalising an agreement with the University of Buckingham to deliver its PGCE programme. The arrangement is […]

‘Systematic failure’ lifts academy trust’s deficit to £2.4m

An academy trust in charge of schools for excluded and vulnerable pupils unknowingly racked up a £2.4 million deficit because of a “systematic” failure in its financial systems. Annual accounts for 2017-18, published last week, have revealed the full extent of financial mismanagement at the TBAP Multi-Academy Trust. Leaders at the trust, which runs 11 […]