Month 1
The Key for School Leaders
An Essential Guide to Academy Conversion
• Create grant spending spreadsheet – software and planning , accounts , legal
• Set up cash flow spreadsheet – use to check available balance in bank
• Consider what finance system to use , and whether the server and PCs will run the system without being upgraded
• Consider shared systems for the MAT ( if applicable ), which systems , how these will operate ( existing or new systems ?)
PRE-APPLICATION
Month 1
• Receive academy order
• Make contact with project lead at the DfE
• Make application for support grant as soon as academy order is granted
• Receive funding allocation letter confirming how much funding the academy is likely to receive
• Notify LA of decision to convert ( consent required ?)
• Work with Local Government Pension Scheme ( LGPS ) to establish valuation for pension scheme ( actuarial assessment on pension contributions ). This may take several months and require continued follow – up
• Get insurance quotations – cover varies depending on the requirements of the school , or opt into Education Funding Agency ( EFA ) risk protection arrangement scheme . Note that the EFA scheme does not cover occasional business use for motors , fine works of art or overseas travel , although preferred options to purchase for these items are provided
• Assess additional costs the academy will have to pay ( e . g . accountant , auditor , legal retainer , insurance , free school meals and admissions , broadband , school meals service , appeals , HR , health and safety , learning support , educational welfare services )
• Plan and communicate with staff
• Where the right exists for employees to TUPEtransfer across to an academy , this will apply to all staff in VA schools as well as VC schools
• Complete procurement of finance software
• Compile a list of all contracts held by the school / LA
• Begin service level agreement ( SLA ) reviews / negotiations with LA for any services you will continue to purchase from it
Not all contracts can be novated / moved over . Some have to be re-negotiated . Even contracts for refuse collection and photocopiers need to be transferred if possible .
• Begin parental consultation ( complete by end of month 3 )
• Licences / warranties / SLAs – send to solicitors to prepare CTA
• Reassign rights and guarantees in respect of building works
• Contracts – all providers to transfer to contracts with academy > send CTA to legal and HR providers > all transfer > identify all contracts to transfer over to academy . Ensure application contracts are moved over / novated
• Download financial management and governance self-assessment ( FMGS ) return to identify documentation you can prepare before conversion
• Review the EFA Information Exchange online calendar : www . gov . uk / government / publications / efa-information-exchange / efainformation-exchange-about-the-system – check the timelines
• Review the Academies Financial Handbook , Dear Accounting Officer ( DAO ) letters , Academy Accounts Direction ( AAD ), budget forecast return guidance , Academies Financial Return guidance
• Consider the training needed for the accounting officer , chief financial officer and finance staff
10 Not yet tried The Key for School Leaders ? www . thekeysupport . com / free