Fund Pooling Statement
Standing united makes us stronger and trustees unanimously agreed to develop a financial model that ensures all income works in the best interests of all academies. In a climate of economic uncertainty we hold the belief that we are stronger by tightening our belts as a single entity. If one child fails in any of our academies, we all fail. Reserves are reallocated following a formula agreed annually by Trustees in line with 2019 Finance Policy.
As the Trust evolves its financial arrangements to a Fund Pooling Policy it will no longer be necessary to take a physical management charge of 7% of an Academy income. It should be noted for the purpose of transparency, the Trust Corporate and Operational Sponsorship Services require 7% of all Academy income to operate effectively and efficiently and develop wider services based on the priorities of our academies.
The Trusts financial policies, procedures and reports are below: