Financial and Accounting Requirements. 65) The Academy Trust shall appoint an Accounting Officer and shall notify the Secretary of State of that appointment.
Financial and Accounting Requirements. General
Financial and Accounting Requirements. General The Academy Trust shall appoint an Accounting Officer and shall notify the Secretary of State of that appointment. In relation to the use of grant paid to the Academy Trust by the Secretary of State, the Academy Trust shall abide by the requirements of, and have regard to the guidance in, the Academies Financial Handbook published by the DfE and amended from time to time which sets out in detail provisions for the financial management of the Academy including guidance on financial systems and controls and accounting and reporting requirements, in so far as these are not inconsistent with any accounting and reporting requirements and guidance that it may be subject to by virtue of its being a charity. The formal budget plan must be approved each Academy Financial Year by the Governing Body. Any payment of grant by the Secretary of State in respect of the Academy is subject to his being satisfied as to the fulfilment by the Academy Trust of the following conditions: in its conduct and operation it shall apply financial and other controls which conform to the requirements both of propriety and of good financial management; arrangements have been made to maintain proper accounting records and that statements of income and expenditure and balance sheets may be produced in such form and frequency as the Secretary of State may from time to time reasonably direct; in addition to the obligation to fulfil the statutory requirements referred to in sub-clause f) below, the Academy Trust shall prepare its financial statements, Directors’ report, Annual Accounts and its Annual Return for each Academy Financial Year in accordance with the Statement of Recommended Practice as issued by the Charity Commission and updated from time to time as if the Academy Trust was a non-exempt Charity and in such form or manner and by such a date as the Secretary of State may reasonably direct and shall file these with the Secretary of State and the Principal Regulator each Academy Financial Year; A statement of the accounting policies used should be sent to the Secretary of State with the financial statements and should carry an audit report stating that, in the opinion of the auditors, the statements show a true and fair view of the Academy Trust’s affairs and that the grants were used for the purposes intended; the Academy Trust shall ensure that its accounts are audited annually by independent auditors appointed under arrangements approved by the Secretary of State;
Financial and Accounting Requirements. 72)The headteacher shall be the Academy's Accounting Officer. The Accounting Officer will be personally responsible to the Trustees for ensuring regularity and propriety, and for the economic, efficient and effective use of resources (i.e. ensuring value for money), and administration of the financial affairs of the Academy. The Accounting Officer may delegate or appoint others, such as a Finance Director, to assist in carrying out these responsibilities.
Financial and Accounting Requirements. General 62-77 Borrowing Powers 78-79 Disposal of Assets 80-86 TERMINATION General 87-100 Change of Control of the Academy Trust 101 Effect of Termination 102-109 GENERAL Information 110-114 Access by Secretary of State’s Officers 115-117 Notices 118-119 General 120-122 LAND CLAUSES 117A-117N ANNEXES TO AGREEMENT Memorandum and Articles of the Academy Trust Annex A Admissions Requirements Annex B INTRODUCTION
Financial and Accounting Requirements. Formatted: Bullets and Numbering
Financial and Accounting Requirements. 32 General 32 Application of the Academies Financial Handbook 33 Budgeting for funds 33 Carrying forward of funds 34 Annual accounts and audit 35 Keeping financial records 36 Access to financial records 36 Acquiring and disposing of Publicly Funded Assets 36 Retaining proceeds from the disposal of capital assets 37 Transactions outside the usual planned range 37 Borrowing 38 5. LAND CLAUSES 38 6. COMPLAINTS 49
