Sentences with phrase «assets of an academy trust»
The net current assets of an academy trust are one area that trustees should be monitoring to give them comfort that the trust is in a sound financial position.
https://schoolsweek.co.uk/ Not exact matches
An academy trust is a charitable company responsible for the running of the academy, which has control over the land and the other assets.
Peter Box, the Labour leader of Wakefield Council, contacted the police over concerns that the academy trust had engaged in «asset - stripping» of its schools, after it emerged that it had transferred money from some of its individual academies to its central accounts.
As the school's staff, assets and contracts will transfer to the academy trust upon conversion, it is also recommended that you start to collate details of these including details of any assets and contracts you would like excluded from the transfer.
Libby Nicholas, chief executive of Astrea Academy Trust, told Tes: «Our teachers are such a valuable asset — they work tirelessly to deliver an education that inspires beyond measure.
Party calls for publication of report on Wakefield City Academies Trust, which is accused of «asset stripping» school budgets
Yes, an academy trust may well sell of its assets (be that land, buildings, artwork etc.), but the proceeds are not taken out by individuals but reinvested within the trust.
All I was trying to do is point out that making out that only academy trusts can be accused of «asset stripping» is wrong.
I understand asset stripping as being the process of selling off the assets of a company (in this case the academy trust) and extracting the proceeds into the pockets of the investors leaving behind an empty shell company with debts that will collapse.
The commission said concerns surrounded a «lack of separation» between the management of the two charities — DET and Durand Academy Trust — and its oversight of its «investment assets».
Schools taking academy status will become independent schools, with their assets becoming the responsibility of trusts, which will be run as charitable companies.