‘Bankruptcy’ fear over transfer of three primary schools from Academy Transformation Trust

The TES reports that Education Funding Agency criticises financial management and governance at ATT.

An academy trust raised concerns that plans to transfer three of its primary schools to a new sponsor could bankrupt it, a government report has revealed
The EFA report, published today, reveals concerns about the impact of the loss of the three primaries that are due to be transfered to the Abelle Academy Trust, following an agreement with ATT. 
The EFA blames “inadequate financial management” for a forecast fall in ATT’s revenue reserves from £5.01m in 2014 and to £26,000 in 2018.
“ATT welcomed both the review and the findings, in particular guidance on how to improve current strategic and operational structures.”
ATT have always been committed to providing the very best education for all pupils and the highest level of support for our staff to ensure every child leaves our academies with everything they need to reach their full potential and, in pursuit of this have deployed their financial reserves to invest in the improvement of educational provision at our academies.
Let us know your thoughts and comments below or on Twitter ~ Mercedes

Are you a trainee teacher, NQT, teacher, headteacher, parent or  just someone who cares about education and has something to get off  your chest in a Schools Improvement Guest Post? Follow this link for more details at the bottom of the page.

Don’t forget you can sign up to receive our daily email bulletin (around 7am) with all the latest schools news stories. Your details will never be given to anyone else and you can unsubscribe at any stage. Just follow this link.

We now have a Facebook page - please click to like!


Mental health problems rife among teenagers but teachers lack skills to help
Headteacher hits out after parent gives child 'cold McDonald's Happy Meal from night before' for packed lunch
Categories: Academies and Budgets.

Let us know what you think...