Leadership structure and lines of accountability:
The board of trustees of the MAT delegate responsibility for the delivery of the vision and strategy to the lead professionals of the MAT, the Operational Management Board (OMB). The MAT board will hold the OMB to account for the performance of the Trust, including the performance of the academies within the Trust.
The governance structure and levels of accountability may vary but it is important that any scheme includes delegation. Whilst the board cannot delegate its accountability, it can and must delegate some of the detailed scrutiny, oversight and decision-making.The Trust board delegates responsibility for the performance of the Trust, including the performance of the academies within the Trust to the OMB.
This means that as the OMB is accountable to the board for the performance of the Trust as a whole, the OMB will report to the board on the performance of the Trust including the performance of the trust’s schools. The OMB is performance managed by the Trust board.
The role of the Accounting Officer (AO):
The Accounting Officer has the delegated responsibility for the operation of the trust.The Business Director is the accounting officer so has overall responsibility for the operation of the academy trust’s financial responsibilities and must ensure that the organisation is run with financial effectiveness and stability; avoiding waste and securing value for money.
The trust board will delegate management functions to the academy Principals and they are accountable for the performance of the academy.
The role of the Academy Principal:
The Academy Principals (Mr Sayles and Mrs Waugh) are responsible for the management of the academies and are managed by the Trust Board.
Leadership and Management:
The Operational Management Board consists of The Accounting Officer and both Principals of Whitehill and Wainstalls School, with external scrutiny and input from relevant external bodies. The Operational Management Board leads both academies and works closely on all aspects of Academy life.
i-Trust Education operates sound business practices ensuring long term viability of the Trust. We formulate and implement strategies for immediate impact and the preservation of long-term goals to enhance trust growth, and long-term sustainability. The Trust will comply with its obligations as a company, exempt charity and public body as set out in company law, the Academies Act, and the Academies Finance Handbook and in the Trusts funding agreement. We implement clear financial controls with the emphasis on value for money (economy, efficiency, and effectiveness), which gives greater emphasis on transparency and fairness.
Control consists of three main pillars:
• Strong systems of financial management and control to implement the tasks of strategic planning, budgeting, accounting, reporting, and monitoring.
• Objective internal audit which supports management and provides reasonable assurance that risk management, control and processes are established standards, and to the principles of sound financial management for better achievement of objectives.
• The Chief Finance Officer is responsible for developing and implementing methods and standardised quality management, financial control and internal audit and is accountable to the i-Trust Education Board.
All colleagues operate under the appropriate level of honesty, integrity, and safety and are aware of the importance of the activities performed. Competencies, responsibilities, tasks, and reporting obligations are clearly defined for all.
Funding from the ESFA and local education authorities will be allocated directly to Academies which will each maintain its own bank account and finance systems.
Academies within our trust are not charged with a one size fits all top slice but instead are charged proportionally to each school’s level of need. Our main aim is to ensure value for money within the Trust, which is transparent, fair, allowing all to achieve their full potential, and to reach for the highest possible standards.