ESFA Unveils its Policy: Everything You Need to Know
Introduction:
The government has released guidance for academy trusts on managing their reserves. It states that trusts with large levels of reserves will not be told to spend the cash, but officials will check to ensure they have sufficient plans in place to meet pupils’ needs. Investments to generate extra income are also suggested.
Full Article: ESFA Unveils its Policy: Everything You Need to Know
Government does not require trusts with large reserves to spend the cash
New government guidance has set out that Academy trusts with large levels of reserves will not be told to spend the cash by the government, nor face having it clawed back.
The Department for Education has published a “good practice guide” on academy trust reserves.
It comes after the National Audit Office ordered officials to investigate trusts building up “substantial reserves”.
The guidance stated the Education and Skills Funding Agency (EFSA) “does not set a required level of reserves” – this is up to trustees to decide.
Trusts are now asked as part of their July budget forecast return how they would use large reserves, alongside planned project costs and timings.
The handbook stated trust boards must set a policy for holding reserves and explain this in its annual report.
Where trusts have “low, or persistently declining levels of reserves heading towards a forecast of low reserves”, the ESFA will contact the trust to “understand its position and discuss any potential support that may be appropriate”.
A report from accountancy firm Kreston earlier this year also found only 11 per cent of the trusts they worked now had reserves over 20 per cent of income.
Summary: ESFA Unveils its Policy: Everything You Need to Know
The government’s new guidance shows that academy trusts with large reserves will not be compelled to spend the cash or have it taken back. However, the Education and Skills Funding Agency will ask trustees with reserves worth 20% of their income to justify their plans to ensure sufficient funding for pupils. The guidance also suggests trusts consider investing their reserves to generate extra income.
ESFA Policy FAQs
What is the ESFA’s policy on student welfare?
The ESFA is committed to ensuring the welfare and safety of all students. Our policy is to provide a safe and supportive environment for learning, and to take any necessary action to safeguard the wellbeing of students.
How does the ESFA support diversity and inclusion in its policy?
The ESFA promotes diversity and inclusion in all aspects of its policy. We strive to create a welcoming and respectful environment that values the unique contributions of individuals from diverse backgrounds.
What is the ESFA’s stance on environmental sustainability?
The ESFA is dedicated to promoting environmental sustainability. Our policy encourages practices that minimize our impact on the environment and support the long-term health of our planet.
How does the ESFA address academic integrity in its policy?
The ESFA is committed to upholding the highest standards of academic integrity. Our policy prohibits plagiarism, cheating, and any form of dishonest behavior, and outlines the consequences for those who violate these principles.
What measures does the ESFA take to ensure transparency and accountability?
The ESFA places a strong emphasis on transparency and accountability in its policy. We outline clear procedures for decision-making, financial management, and reporting to ensure that our actions are accountable to the public and our stakeholders.
Can students and parents provide input into the ESFA’s policy decisions?
Yes, the ESFA welcomes input from students and parents in the development of our policy. We value the perspectives of those directly affected by our decisions and seek to incorporate their feedback into our policy-making process.
How frequently does the ESFA review and update its policy?
The ESFA regularly reviews and updates its policy to ensure that it remains relevant and effective. We take into account changes in legislation, best practices, and feedback from stakeholders to continuously improve our policies and procedures.
Where can I find more information about the ESFA’s policy?
For additional information about the ESFA’s policy, please visit our website or contact our office directly. We are happy to provide further details and address any specific questions or concerns you may have.
Frequently Asked Questions
What is the ESFA’s policy on student welfare?
The ESFA is committed to ensuring the welfare and safety of all students. Our policy is to provide a safe and supportive environment for learning, and to take any necessary action to safeguard the wellbeing of students.
How does the ESFA support diversity and inclusion in its policy?
The ESFA promotes diversity and inclusion in all aspects of its policy. We strive to create a welcoming and respectful environment that values the unique contributions of individuals from diverse backgrounds.
What is the ESFA’s stance on environmental sustainability?
The ESFA is dedicated to promoting environmental sustainability. Our policy encourages practices that minimize our impact on the environment and support the long-term health of our planet.
How does the ESFA address academic integrity in its policy?
The ESFA is committed to upholding the highest standards of academic integrity. Our policy prohibits plagiarism, cheating, and any form of dishonest behavior, and outlines the consequences for those who violate these principles.
What measures does the ESFA take to ensure transparency and accountability?
The ESFA places a strong emphasis on transparency and accountability in its policy. We outline clear procedures for decision-making, financial management, and reporting to ensure that our actions are accountable to the public and our stakeholders.
Can students and parents provide input into the ESFA’s policy decisions?
Yes, the ESFA welcomes input from students and parents in the development of our policy. We value the perspectives of those directly affected by our decisions and seek to incorporate their feedback into our policy-making process.
How frequently does the ESFA review and update its policy?
The ESFA regularly reviews and updates its policy to ensure that it remains relevant and effective. We take into account changes in legislation, best practices, and feedback from stakeholders to continuously improve our policies and procedures.
Where can I find more information about the ESFA’s policy?
For additional information about the ESFA’s policy, please visit our website or contact our office directly. We are happy to provide further details and address any specific questions or concerns you may have.
