Financial management is a key function of the multi-academy trust.
Most of the Academy's income is obtained from the following sources:
- the Education and Skills Funding Agency (ESFA) in the form of recurrent grants
- grants for fixed assets from the ESFA
The governors through the Finance and Resources Committee and headteachers receive financial progress reports throughout the year and compare against budgets submitted to the Education and Skills Funding Agency (ESFA). The Finance and Resources Committee also reviews longer term financial models (up to 3 years) to plan and organise resources most effectively to fulfil the aims of the Trust. The Academy's system of internal controls ensures risk is minimal in these areas.
Overall, the Trust has a healthy balance sheet and cash flow and uses reserves to maintain the current assets and also to invest back into the schools in the form of additional resources and facilities both in the long term and short term in conjunction with the school development plans and schools’ aims.