News

Watford UTC hit with financial notice to improve

A University Technical College has been issued with a financial notice to improve after it failed to set a balanced budget.

The Education and Skills Funding Agency has written to Watford UTC, a technical school for 14 to 19-year-olds in Hertfordshire, over concerns about “failures in governance and financial management”. The intervention follows several requests from the UTC for financial support from the government, the ESFA said.

According to academy funding rules, which UTCs have to follow, all schools must set a balanced budget. Having broken the rules, Watford UTC has now had most of its spending powers suspended and must run financial decisions past the government until the notice is lifted.

The school must now carry out an “integrated curriculum financial review” to identify savings and produce a new recovery plan, which must be sent to government funding bosses.

The plan must demonstrate a balanced budget from 2019-20, growth in pupil numbers and that outstanding debts have been repaid. It must also audit the skills of its governors and staff, particularly those with financial responsibility, and commission an independent review of its financial systems, among other conditions.

The UTC was approached for comment.

Latest education roles from

Apprenticeship Skills Tutor – Level 7 Senior Leadership / Management

Apprenticeship Skills Tutor – Level 7 Senior Leadership / Management

RNN Group

GCSE and Functional Skills English Lecturer

GCSE and Functional Skills English Lecturer

Riverside College

MIS (Management Information Systems) Assistant

MIS (Management Information Systems) Assistant

RNN Group

EA to the CEO & Senior Directors

EA to the CEO & Senior Directors

Haberdashers’ Academies Trust South

Chief Executive Officer Cornwall Education Learning Trust (CELT)

Chief Executive Officer Cornwall Education Learning Trust (CELT)

Satis Education

Head of Faculty (History and RS)

Head of Faculty (History and RS)

Ark Greenwich Free School

Your thoughts

Leave a Reply

Your email address will not be published. Required fields are marked *