Academies Update

Dec 11, 2013

The EFA has introduced a requirement for all Academy Trust’s that had converted by 31 August 2013 to issue a Value for Money Statement (‘VFM’) covering the period ended 31 August 2013.
To assist Academy Accounting Officer’s with the Statement, we have prepared a Fact Sheet which outlines the key aspects of the Value for Money Statement.  The Fact Sheet can be downloaded using the link below.  We have also produced a pro-forma Statement that Accounting Officer’s may find helpful in compiling the Statement.  The pro-forma Statement follows the more detailed guidance provided by EFA, which can be downloaded from the EFA website here.
As the completed and signed Statement must also be published on the Academy’s website, we recommend that all Academies print the final Statement on Academy Trust letterhead.
When submitting the completed and signed Statement to EFA, which should be submitted as a PDF document, Academies must remember to utilise the specific naming convention as set out by the EFA as follows:

UPIN – Academy Trust Name – Value for Money Statement

Download Academies Fact Sheet December 2013

If you have any questions at all on the Statement, then please do not hesitate to contact a member of Whitley Stimpson’s Education Team