Page 3 - Trust Master Funding Agreement
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Contents
SUMMARY SHEET.............................................................................................................................. 4
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INTRODUCTION .......................................................................................................................... 4 Definitions of types of Academies: ................................................................................................ 5 Other defined terms: ........................................................................................................................ 6 General Obligations of the Academy Trust .................................................................................. 9 Governance..................................................................................................................................... 12
RUNNING OF THE ACADEMIES............................................................................................ 13 Length of school day and year ..................................................................................................... 13 Teachers and staff ......................................................................................................................... 13 School meals...................................................................................................................................14 Pupil Premium.................................................................................................................................15 Charging .......................................................................................................................................... 16 Exclusions ....................................................................................................................................... 16 Curriculum ....................................................................................................................................... 17 Assessment..................................................................................................................................... 18
GRANT FUNDING ..................................................................................................................... 20 Recurrent Expenditure Grants ..................................................................................................... 20 Capital Grant...................................................................................................................................21 General Annual Grant (GAG) ....................................................................................................... 23 Earmarked Annual Grant (EAG) .................................................................................................. 25 Arrangements for paying GAG and EAG....................................................................................25 Other relevant funding ................................................................................................................... 26
FINANCIAL AND ACCOUNTING REQUIREMENTS ........................................................... 27 General ............................................................................................................................................ 27 Application of the Academies Financial Handbook...................................................................28 Budgeting for funds........................................................................................................................28 Carrying forward of funds..............................................................................................................29 Annual accounts and audit ...........................................................................................................30 Keeping financial records..............................................................................................................31 Access to financial records ........................................................................................................... 31 Acquiring and disposing of Publicly Funded Assets ................................................................. 31
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