Finance inc HR, Audit
Membership
Directors - ABE (Legal) CJO (Finance) RSC (Audit) GAP
Staff Advisers - CBL (CFO)
Terms of Reference
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.
Policies
S02. Charging and Remissions Policy XP Trust
S03. Data Protection Policy XP Trust
S08. Capability of Staff XP Trust
S10. Staff discipline, conduct and grievance (procedures for addressing) - XP Trust Policy
S27. Equality Information and Objectives - Public Sector Equality Duty XP Trust
S30. Register of Business Interests for Staff and Governors XP Trust