XP Trust Risk Register

To ensure that:

• The requirements of the Academy Trust Handbook are being carried out

To ensure for Finance, that:

• Monthly management reports are produced and distributed to Directors

• Purchases and contracts are ratified inline with our Procurement Policy and recorded in our Contracts Register.

• Recommendations and findings from external and internal audits will be implemented in a timely manner.

• Budgets are set and three further years forecast for each school and the Trust. The budgets and forecasts are reviewed annually and presented to the Trust at the AGM.

  • For each school, if the In Year Surplus - One off Costs > £0, then the school is financially sustainable.

    • If not, there is a strategic plan to ensure the school will be financially sustainable in the future, or otherwise mitigated.

  • The Trust surplus is 2-5% of annual income, or greater. If greater, strategic spending is identified.

    • If not, there is a strategic plan to move towards this in the future.

• Trust accounts are carried out appropriately, audited annually and approved at the Trust AGM

To ensure for Human Resources, that:

• A CEO is appointed as Accounting Officer and Line Manager to the whole executive organisation.

• An effective recruitment process is in place

  • • Entries / Exits / Reasons

    • Vacancies

    • Number of applicants to jobs. Average and range.

• The performance management of the trust is carried out effectively in line with policy

  • Link to PEPs on request

  • % & # of staff completed / successful PEPs

    • Teachers / Leadership / Crew

• Issues are raised with Directors in line with policy, including external HR and legal advice.

To ensure for Audit, that:

• Oversight and approval of the trust’s programme of internal scrutiny is effective

• Risks are being addressed appropriately through internal scrutiny

• An annual internal audit report on the adequacy of the trust’s internal control framework, including financial and non-financial controls and management of risks is shared with the board.