Converting to academy status
The decision to move to academy status is a significant one that requires careful consideration before the formal process begins.
A key priority is to explore in detail all aspects of the school’s financial position, systems and controls and to clarify and consider how these key issues will be affected by conversion.
At HB&O in Leamington Spa, Coventry and Warwickshire, our academies experts can provide independent, objective advice to ensure those responsible for the school have, at the earliest possible stage, a clear understanding of the issues affecting its viability as an academy, to enhance and inform decision-making.
By working with us, we can advise and assist to strengthen your school’s capacity to make a successful transition to academy status. Our services include:
- establishing the financial position of a school, including valuation of land and buildings on transfer and the position of pension schemes
- advising on monitoring cash flow, budgeting and financial projections
- advice on governance policies and processes relating to reserves, internal controls, risk management, investment and accounting
- advising on the roles and responsibilities of governors, finance committees and audit committees
- advice on accounting system compliant with SORP or improvements to strengthen and improve existing systems
- advice on returns to the Education Funding Agency
- VAT issues, including registration and reclaiming VAT
- corporation tax issues arising from commercial and community activities
- pension valuations and accounting requirements
- payroll preparation services
- bookkeeping and management accounting advice and services
- audit services
- HR compliance advice
- IT support
- cost reduction services.