Academy Conversion Funding Agreement

The section “Set up or adhere to an Academy Trust” in the College Conversion Guide explains how and when these documents are used. Further advice on converting into an academy and opening a free school is available. The commitments of the Academy Trust Fund in the funding agreement depend on the nature of the School. For a mainstream academy, the Academy must: If you are a school in the process of transforming into a mainstream academy with only one academy trust, you can also conclude the online funding agreement. We provided the funding agreement in Word and ODT format. You should read the academy conversion guide before using the documents on this page. The manual explains when and how documents are used. A clause on coastal school education has been added to the Special Academy and Free School Model Funding Agreement: Single Academy Trusts and “Alternative provision academy and free school model funding agreement: single academy trusts` documents.” Application forms added for the primary education chain scholarship and the small scholarship for school supplements. The requirements of a specialized academy, another supply school and an academy of 16 to 19 years are adapted to their characteristics. If you are considering moving to academy status, you can register your interest. An education specialist will then contact you to discuss your options.

To obtain funding, an academy foundation must enter into a funding agreement with the Minister of Education. This is a 7-year contract whereby the DfE is legally required to grant a general annual grant and an allocation grant to the Academy Trust Fund, provided the conditions set out in the funding agreement are met. The capital allocation remains at the discretion of the Secretary of State. When buildings and land are transferred to the Academy Trust Fund, additional clauses must be included in the financing contract. These clauses ensure that the land is kept publicly owned. A multi-academy trust fund enters into a master funding contract that governs the funding of all MAT academies. For each academy, the MAT also concludes a supplementary funding agreement specific to each college. The terms of the master funding agreement and any supplementary funding agreement are similar to those of a single funding agreement for academies. The main addendum is that the MAT must set up an “advisory board” for each academy. It will be the local governing body of each college, which can only exercise an advisory role (i.e. without decision-making power) or with limited decision-making power, as decided by the MAT Board of Directors and defined in a delegation programme.

The Academy Foundation must also meet the basic requirements of the aid, so that: Added April 2016 version of the “Mainstream Academy and free school funding model Convention: Single Academy Trusts” document. You must complete your brief and status at the same time as your financing contract.

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