Finance & People Committee January Update

I am pleased to share with you the recent developments and deliberations that have taken place within our Trust, specifically concerning our financial governance and strategic planning. These discussions reflect our commitment to ensuring the highest standards of educational provision for our pupils while maintaining robust fiscal responsibility.

The restructured Finance & People committee convened recently, demonstrating an enhanced focus on key areas critical to our Trust's operations. This refinement in our governance structure aligns with our dedication to continuous improvement and adaptability in the face of evolving and challenging educational landscapes.

In adherence to the Academies Trust Handbook, we review our management accounts on a monthly basis. The committee conducted an examination of the December accounts during our latest meeting, ensuring our financial position remains transparent and accountable.

Following the completion of our recent audit, we have embarked on a review of our reserve levels and associated policies. This exercise is not merely a financial formality but a strategic imperative to safeguard our ability to provide excellent educational experiences and resources for the pupils entrusted to our care. Our discussions have been informed by the DfEs recommendation of maintaining reserves between 5% and 20%.

The committee engaged in a nuanced dialogue regarding the appropriate level of reserves for our Trust. We have carefully considered our current operational requirements, anticipated future financial challenges that may impact some of our schools, and the imperative to invest in educational excellence. After thoughtful deliberation, we have resolved to refine our policy to stipulate a reserve range of 10% to 17%. This decision reflects a balanced approach, ensuring we have sufficient financial resilience while maximising the resources available for educational impact.

Furthermore, we have initiated a review of our investment strategies to optimise the management of our reserves. This approach aims to enhance our financial stewardship, so that we derive maximum benefit from our prudent fiscal management but also respond to emerging opportunities and challenges.

These financial considerations, while technical in nature, are fundamental to our ability to deliver on our core purpose: providing an outstanding education to every pupil in our Trust. By maintaining a robust financial foundation, we ensure that our schools have the resources they need to innovate, support our dedicated staff, and create enriching learning environments.

We remain committed to transparency and will continue to communicate significant developments and decisions that shape the future of our Trust. Our financial strategy is intrinsically linked to our educational aspirations, and we are confident that the measures we are implementing will contribute to the sustained success and growth of our schools and, most importantly, the achievements of our pupils.

Lewis Tasker

Chair of Finance & People Committee