Tuesday 23 April 2013

Academy chain hit with accounts warning

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Concerns grow over rapid expansion of larger sponsors

One of the country’s largest academy chains has been hit with an official warning by the government over serious concerns about the financial management of its schools, TES can reveal.

E-Act, which runs 31 schools, has become the first sponsor to be issued with a “financial notice to improve” by the Education Funding Agency (EFA) after the government body found a string of “weaknesses” in the reporting of its schools’ accounts.

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2 comments

  1. Jane said:

    The key point about this is that this is the second time the organisation has been found to be guilty of financial mismanagement. The first time Lord Bhatia resigned and the name was changed from Edutrust to E-Act. Plus ca change. This is one group found out. How many other academy sponsors are getting away with it?

    24 April 2013 at 3:06pm
  2. ROSETTA TICKNER said:

    Would appreciate any comments/observations about the Greenwood Dale Trust as it appears to have selected our town- Corby, Northants- as its next area for aquisitions.

    16 May 2013 at 11:18am