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Academies Financial Handbook 2019 – What you need to know.

The ESFA’s Academies Financial Handbook provides a financial and governance framework, for academy trusts, with handbook compliance being a key clause within every trust’s funding agreement. This year, the handbook focuses on internal scrutiny more than ever before.

It attempts to set out the requirements for effective financial governance and management of funds, so that trusts meet the public standard of accountability while not compromising too much of the financial freedoms which they need over their day-to-day operations. The Handbook covers six main areas which are:

  • Roles and responsibilities;
  • Main financial requirements;
  • Internal scrutiny;
  • Annual accounts and external audit;
  • Delegated authorities; and
  • The regulator and intervention.

Since its inception in 2012 the guidance has been re-issued every year with changes made by the ESFA in response to sector developments and trusts’ experiences. The changes to the 2019 edition, as set out below, reflect the ESFA’s increasing emphasis on the importance of strong financial control and governance. See an extract of the article below:

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The issues you face as a free school at start-up or as an established multi-academy trust can vary enormously. And they can be much the same. Over the years our academy specialists have helped more than 100 clients at every level – from stand-alone primary and secondary schools to national multi-academy trusts. So you can rely on our help to satisfy governance, financial and HR requirements all year round.

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Join forces with our sector experts and you can stop worrying about whether you’ll tick those audit and accounting boxes on time. You’ll also open the door to across-the-board training and information, from accounting workshops to technical updates. To top it off, our relationship with the Education and Skills Funding Agency (ESFA) means you’ll stay primed on the latest regulations.

Expert advice on best practice in education:

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We've produced a benchmarking report which gives insight into the current state of the academy sector. We take a look at pensions, operational margins as well as teachers pay, download your free copy here.     

Download these useful resources:

Multi-academy trust brochure
Education events brochure 2019
Academy planner - key dates for academies 2019 
Academies Financial Handbook 2018 - the key pointsAcademy sector developments 2018
What is an HR Audit?
Retention of Accounting and Records
Pros and cons of using a trading subsidiary
Buzzacott New Manager Pathway Brochure 2018