Annal Nayyar- Governor Annual Reports – what to include

The following are taken from the current FMH.

  • Academy  trusts are required to publish their annual reports and financial  statements on their own websites.
  • This  includes the requirement to prepare a directors’ report (which in the Accounts Direction is called a governors’ report and forms part of the academy trust’s annual report)
  • Whilst  the governors’ report is a legally separate document from the financial statements, they are presented together in the same publication.
  • A separate governance statement must be included in the annual report
  • A  separate statement of governors’ responsibilities must be included in the annual report,
  • Federations will exist where a number of academies are operated by a single charitable  trust company. In this case a single set of financial statements must be      prepared. A governors’ report for the federation as a whole should give a  description of the objectives set, the activities undertaken and the  performance against the objectives, but there is no requirement for there   to be a separate section within the report for each academy within the federation.

The following taken from the old FMH

  • Company  and charity law brings a key requirement, in the context of financial  management, that academies must prepare and publish a governors’ report  and audited accounts in a prescribed format on an annual basis.

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