What has changed in this edition?
This year the handbook has been sharpened and shortened, and trusts should ensure that they are aware of and apply the supplementary guidance signposted throughout the handbook.
Simplified areas have also been highlighted below along with the main changes:
Roles and responsibilities
- Updating content on governance matters throughout part 1 following the publication of the trust quality descriptions
- Emphasising the importance and value of good estates safety and management (1.19)
- Confirming that the board should have sufficient financial knowledge to hold the executive to account (1.25)
- Explaining that the roles of the Accounting Officer and the Chief Financial Officer should not be occupied by the same individual (1.28)
Main financial requirements
- Confirming that trusts no longer need to provide an explanation in their governance statement where the board has not met at least 6 times in the year (2.3)
- Providing trusts with an additional month to submit their Budget Forecast Return (2.15)
- Simplifying the position on the preparation and circulation of management accounts, including more discretion for trusts (2.18 – 2.20)
- Explaining the permissive position on Electric Vehicle (EV) salary sacrifice schemes (2.31)
Delegated Authorities
- Simplifying the position on GAG pooling to strengthen the value and importance of this practice for trusts to consider (5.30 and 5.31)
- Refining the approval threshold for related party transactions, and simplifying arrangements for transactions within other educational providers (5.42 and 5.57)
The regulator and intervention
- We have amended the section on NtIs to make clearer the range of circumstances in which an NtI might be issued (6.16) The department will engage with the sector in developing its approach to intervention, including the process to be followed by the department’s Regions Group and the evidence that they will rely on to determine the strength of trustees’ oversight of educational performance.