The Academy model is revolutionising the way in which schools operate. Choose Carpenter Box to help your school make the most of the opportunity that being an Academy brings. As a member of MHA, which already acts for over 150 academies up and down the country, you will benefit from the experiences of primaries and secondary schools who have successfully converted, meaning a smooth and cost effective transition.
The Academy Act 2010 offers schools the opportunity to benefit from the freedoms and flexibilities that academy status can bring, including: freedom from LEA control and routine school inspections, greater control over the budget, freedom to set teachers’ pay and contracts, as well as greater flexibility in the curriculum, term times and length of the school day. However, the decision not to proceed with academy conversion is equally important and needs to consider the level of support the LEA will be able to provide for schools that remain under their control.
Carpenter Box have a broad experience in the education field and can support your school as it strives to attain Academy status. Our extensive expertise in the areas of accounts, audit and financial governance in the not for profit sector alongside the national resource that MHA brings us means that you will not be paying us to reinvent wheels for you. As part of our service we also provide newsletters and training to finance staff and governors to help them understand their roles and make the transition.
If your school is considering becoming an academy, our specialist academy accountants and business advisers can help with the following:
- Clear straight forward pricing. We agree the work to be done with you, and we give you a fixed fee
- Information to be considered in the academy conversion process
- Audit, accounting and reporting requirements
- Setting-up systems and procedures for the new academy
- Budgets, cash flow and financial plans
- Assistance with the Responsible Officer role
- A VAT review and advice on the best method for academies to reclaim VAT
- Employment tax issues and engagement of worker
- Advice on the best structure for any commercial trading activities – eg school uniform sales, sports facility rental etc)
- Review and advice on the chart of accounts
- Advice on year end accounting and running the year end procedure
- Review of the Financial Procedures Manual, to ensure it is in accordance with the Academies Financial Handbook
If you are considering converting to an academy or have already achieved academy status but want further help, please contact one of our specialist academy accountants.