Financial Information
Academies are financed differently and have different reporting arrangements. As a company limited by guarantee and a charitable trust, the MAT has to comply with charity company law. It also has to comply with the requirement as directed by the Education Skills & Funding Agency.
The MAT supports its academy schools through its established centralised accounting procedures to ensure that they all run their budgets efficiently and compliantly.
Every Trust must have in place a process for independently checking financial controls, systems, transactions and risks. The Academies Trust Handbook states that this should be driven by an Audit Committee. At Inspires MAT, as a smaller MAT, this responsibility is held by both the Finance, Audit, Risk and Premises Committee and the Board. The Board also have a Trust Pay Committee.
Annual Accounts can be found in Key Information: Annual Accounts.