Additional documentation is needed when a school is part of a private finance initiative (PFI) construction scheme and converts to an academy, to protect all parties’ interests.
A named project lead at the department will guide PFI schools, sponsors and local authorities through the process and be the first point of contact for any questions. We will discuss the documentation and financial implications of a PFI school becoming an academy.
The PFI timeline shows the process in more detail and can be used to help agree a realistic opening date. It takes at least 6 months for a PFI school to open as an academy because of this extra complexity and documentation, and schools with a particularly unusual project agreement or land arrangements are likely to take longer.
Model documents for schools converting to PFI academies are also available online.