Standing united makes us stronger and trustees unanimously agreed to develop a financial model that ensures all income works in the best interests of all academies.
In a climate of economic uncertainty we hold the belief that we are stronger by tightening our belts as a single entity. If one child fails in any of our academies, we all fail. Reserves are reallocated following a formula agreed annually by Trustees in line with the Trust Finance Policy.
As the Trust evolves its financial arrangements to a Fund Pooling Policy it will no longer be necessary to take a physical management charge of an Academy income. It should be noted for the purpose of transparency, the Trust Corporate and Operational Sponsorship Services require a nominal percentage of all Academy income to operate effectively and efficiently and develop wider services based on the priorities of our academies.
The Trusts financial policies, procedures and reports are below:
The Academies Financial Handbook 2021 requires that the Trust publish on its website, in a separate readily accessible form, the number of employees whose pay benefits exceed £100,000 in £10,000 bandings, as an extract from the disclosure contained in its financial statements and including a prior year comparative figures.
Pay benefits for this purpose include salary, other taxable benefits, but not the Trust’s own pension contributions.
£100,000 – £110,000 0
£110,000 – £120,000 0
£120,000 – £130,000 1