Annually, the accounting officers of all academy trusts open on or before 31 August are required by the ‘Academies Financial Handbook’ to complete a value for money statement to help them self-assess what they have done to maximise the impact of their money in the period ended 31 August each year.
Trusts need to submit their statements to the Education Funding Agency (EFA) by 31 December 2014 using the new online form. The online form covers the same information as the Word template we published last year. The guide to submitting your value for money statement explains how to access and submit the form.
Trusts must also publish their statement on their websites by 31 January 2015.