Academies Financial Handbook 2021

Rebecca Frost

The Academies Financial Handbook 2021 has now been published.

The ESFA has now published the Academy Trust Handbook 2021 (also known as the Academies Financial Handbook) which comes into effect from 1 September 2021. 

The main changes to the Handbook, other than the change to its name, are as follows –

  • Additional guidance on some of the roles and responsibilities of members and trustees
  • Additional guidance on when trusts should review their scheme of delegation
  • Clearer guidance on information to be published to trust websites in relation to employees whose benefits exceed £100k
  • Clearer guidance on internal scrutiny
  • Additional guidance on the timing of re-tendering for external audit services
  • Explanation that trusts must obtain prior approval for certain staff severance payments
  • Additional guidance on some ESFA interventions such as renaming the Financial Notice to Improve to Notice to Improve, and the authority to obtain third party information

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