Academies

(asked on 18th March 2015) - View Source

Question to the Department for Education:

To ask Her Majesty’s Government how parents of children attending academy schools can access details of any cash reserves being held by the school.


Answered by
 Portrait
Lord Nash
This question was answered on 24th March 2015

Single academies and multi-academy chains retain any surplus they make within the legal entity of the academy trust. Under charity law academy trustees must act in the best interests of the trust and ensure all funds are properly managed and applied to the trust’s charitable objects.

Academy trusts must use all of their assets, including their cash reserves, in accordance with their charitable objects as set out in their articles of association. This includes the advancement of education and provision of recreation facilities.

Cash reserves are disclosed in academy trusts’ annual accounts which EFA requires trusts to publish on their websites. These accounts are also published by the Department on its school performance tables webpage and are filed at Companies House.

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