The National Audit Office has recently published this report on the finances of the Government’s academies programme:
Its two major points seem to be:
- There needs to be greater caution with academy finances than the Government has so far shown because of the “light-touch oversight regime”.
- There has been a significant over-spend on academies as a whole.
Given the first point, academy governors need to be extra careful with their school’s finances as they don’t have the more stringent oversight to back them up that maintained (LA) schools have.
The second point is particularly worrying because that money will need to be recouped from all schools in some way or another.