AFPR Committee Update

I am pleased to share with you a comprehensive update on the recent developments within our Multi-Academy Trust.

In November, our Audit, Finance, Personnel, and Risk (AFPR) meeting convened to review and discuss several critical matters. A significant focus of this gathering was the presentation of our draft annual audited accounts. This review is essential for maintaining transparency and accountability within our trust, ensuring that we are utilising our resources effectively to support the educational journey of our pupils.

The Achievement and Curriculum meeting provided a platform for a presentation on best practices in Early Years environments. This insight led to the consideration and subsequent approval of bids from two of our schools to enhance their Early Years settings. This investment underscores our commitment to providing optimal learning environments for our youngest pupils, recognising the crucial role that early education plays in laying the foundation for future academic success.

Financial prudence remains at the forefront of our considerations. The trust's current investments were scrutinised, with a pertinent query raised by one of our Trustees regarding the maximisation of returns on these investments. It was agreed that with our current reserves it is possible to implement further suggestions from our banking advisor. This level of scrutiny ensures that we are constantly seeking to optimise our financial strategies for the benefit of our educational community.

Our Chief Operations and Finance Officer (COFO) provided an overview of the potential impact of National Insurance Contributions (NICs) and government funding on our financial landscape. This proactive approach allows us to anticipate and prepare for potential fiscal challenges, ensuring the stability and sustainability of our educational provision.

In response, a Trustee raised a question regarding the potential impact of contractual and contractor-related cost increases on our budget and it was agreed this would be further investigated and monitored. During the meeting we reviewed our Key Performance Indicators (KPIs). Notably, we have introduced an additional KPI specifically designed to monitor the increase in costs related to NICs. This addition to our financial metrics will provide valuable insights into the evolving economic pressures facing our trust.

Trustees noted the positive outcomes of our investment in the people strategy. The People KPIs reveal an encouraging trend, with reductions in both staff absence and attrition rates. This improvement is a testament to the whole organisation's ongoing commitment to creating a supportive and engaging work environment for all our staff members.

In our continuous effort to maintain the highest standards of governance, we reviewed and ratified changes to key policies. These policies will now be shared across the Trust and updated on the website where appropriate.  

The collaborative efforts of our Trustees, governors, the leadership team, and staff are instrumental in driving our trust forward, always with the best interests of our pupils at heart.

I would like to express my gratitude to our educational community for their commitment to excellence.