‘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
 

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