Who should read this handbook

Find out if this handbook applies to you.

Read this handbook if you have responsibility for governing, managing or auditing an academy trust.

What the handbook covers

The handbook:

  • must be complied with as a requirement of trusts’ funding agreements with the Secretary of State for Education
  • describes financial responsibilities of academy trusts
  • describes other responsibilities of academy trusts including references to safeguarding and keeping buildings safe and well-maintained
  • explains when trusts must obtain Education and Skills Funding Agency (ESFA) approval in advance for financial transactions
  • balances the need for effective financial governance with the freedoms that trusts need over their day-to-day business
  • sets out the areas of HM Treasury’s Managing Public Money applying to trusts, and reflects The 7 principles of public life (selflessness, integrity, objectivity, accountability, openness, honesty and leadership) to which public office holders must adhere
  • covers all types of academy including single academy trusts, trusts with multiple academies, free schools, studio schools, university technical colleges, alternative provision and special academies
  • sets out that ESFA may intervene where it has concerns about the trust’s compliance
  • signposts trusts to supplementary guidance which trusts should read and apply where applicable
  • it is effective from 1 September 2024 and will remain in force until updated or replaced

Using the handbook

In the handbook:

  • ‘must’ – identifies requirements - a list can be found the schedule of musts
  • ‘should’ – identifies minimum good practice which trusts should apply unless they can demonstrate that an alternative approach better suits their circumstances

What else should you read?

Depending on your role, you may need to refer to other material. There is further reading in: