A handbook issued by ESFA that describes financial requirements for academy trusts.
The Academies Financial Handbook sets out the financial management, control and reporting requirements that apply to all academy trusts. It describes a financial framework for trusts that focuses on principles rather than detailed guidance and reflects their accountability to Parliament and to the public.
Compliance with the handbook is a condition of each trust’s funding agreement.
Academies Financial Handbook 2017
The 2017 edition of the handbook is effective from 1 September 2017. It provides a stronger articulation of the role of members and trustees, and increases the focus on improving financial efficiency.
We’ve summarised the main changes on pages 5 and 6 of the handbook.
Academies Financial Handbook 2016
Academy trusts completing financial statements for the period ending 31 August 2017 should refer to the 2016 edition of the handbook.
Letters to academy trust accounting officers
You can read letters to academy trust accounting officers from the accounting officer of the Education and Skills Funding Agency. The letters highlight key responsibilities of academy trust accounting officers on financial management and governance. You should read these letters as well as the Academies Financial Handbook.
Connected body transactions
Severance and other payments
The role of the accounting officer
This video features Gareth Dawkins who sadly passed away in October 2016. Gareth’s family has given permission for the video to continue to be available to help other schools and academies.