The term "Academy Status" refers to a type of school governance in which an existing state-funded school converts its legal structure from a local authority maintained school, to become independent and self-governing. This means that academies are no longer directly controlled by the Local Education Authority (LEA) but instead have their own independent governing body who make decisions about how the Academy is run.
Being granted "Academy Status" can provide schools with greater autonomy, allowing them to innovate and tailor their curriculum to meet the specific needs of their students. Academies also benefit from more flexibility in terms of finance management, as they are able to keep a larger proportion of any savings generated by their operations.
In summary, "Academy Status" refers to a type of school governance that provides greater autonomy and financial freedom for schools, allowing them to innovate and tailor their curriculum to meet the specific needs of their students.