Yorkshire schools will not get back millions lost in trust’s collapse

Schools in Yorkshire that transferred millions of pounds to a multi-academy trust before it went bust will not get the money back, the area’s schools commissioner has confirmed. The Guardian reports

Wakefield City Academies Trust (WCAT), which ran 21 schools, was accused of asset-stripping after it moved its schools’ reserves to centralised accounts before admitting new sponsors would need to be found for them days into the new term in September 2017.

The schools commissioner for Lancashire and West Yorkshire, Vicky Beer, has written to MPs confirming that the trust entered liquidation and was closed on 24 October this year.

Jon Trickett, the Labour candidate and former MP in Hemsworth, wrote in a letter responding to Beer: “This will be extremely distressing news to those many schools formerly part of WCAT that handed over substantial amounts of money to the trust with the expectation they would see it returned or invested to their benefit.”

He pointed out that the accountancy firm Deloitte was paid almost £200,000 of public funds to wind up WCAT. “The cost of educating a child for a year in Hemsworth constituency is approximately £4,674, and Deloitte has received almost 43 times that,” he said. “That’s money to fund 43 children from our area to go to school for a year.”

He said he wanted to see a detailed explanation of where the money handed over to WCAT by its schools went, given the reports of financial misconduct that surrounded the collapse of the trust.

Read the full article Yorkshire schools will not get back millions lost in trust’s collapse 

More questions than answers surrounding the collapse of WCAT. Should all academies finances to monitored more closely? Please tell us your thoughts in comments or via Twitter ~ Tamsin

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