The New Academies Financial Handbook – what it means to you – THE HEADLINES

I hope you find  the following headlines useful as a summary of the core changes recently announced in September 2012

The carry forward on the General Annual Grant  is abolished

  • Academies can now decide within certain pre-defined parameters the following:
    • Special Payments
    • Severance packages
    • Losses
    • Write off
  • The introduction of an Audit Committee (determined by the size of your Academy)
  • The role of the Accounting Officer
  • A reduction in external stakeholder returns
  • Scrutiny of financial governance can be provided in a number of ways


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