How is the work of the Trust funded?

In the first instance it is the Trust which receives all of the funding for its schools from the Education Funding Agency (EFA). Before sending funds on to the individual academies, DGAT retains 5% of the academy School Budget Share (SBS) less notional SEN and 5% of the Education Services Grant (ESG).

On behalf of schools, DGAT will therefore take responsibility for:

  • the preparing and auditing of the annual accounts;
  • the LGPS deficit and paying for the annual LGPS actuarial valuation;
  • the annual Teachers' Pension Scheme return;
  • filing Companies House returns;
  • insurance cover for all academies;
  • the annual Budget Forecast return;
  • Whole of Government Accounts return;
  • undertaking land valuations;
  • management of bank accounts;
  • training and support for local academy finance staff, including setting budgets;
  • the Responsible Officer function;
  • the finance policy;
  • the development of central policies and policy guidance across a range of Finance, Human Resource (HR) and school functions;
  • liaising with the DfE on all matters affecting schools;
  • the development of capital bids under the Academies Capital Maintenance Programme.

In addition, each school will receive three visits a year from the Academy Development Partner, which will be funded by the Trust.  The Trust will also co-ordinate quality assured school-to-school support, networking and CPD opportunities across individual schools.


FAQ
Webpage icon How are academies' budgets calculated?
Webpage icon How are academies funded?: an overview
Webpage icon What is a multi-academy trust (MAT)?