Academy Trust Master Funding Agreement: An Overview
As the education landscape in the UK continues to evolve, the government has introduced various measures to provide schools with greater autonomy and flexibility. One such measure is the establishment of academy trusts, which are independent entities that manage multiple schools. Academy trusts are responsible for governance, finance, and administration of their member schools, with the aim of raising standards and improving outcomes for students.
One of the key documents that govern the relationship between an academy trust and its member schools is the master funding agreement or MFA. This is a legally binding document that sets out the terms on which the trust receives government funding and the way in which it must operate its schools.
The MFA is a complex document that covers several areas, including governance, curriculum, staffing, finance, and accountability. Here are some of the key elements of an academy trust MFA:
Governance
The MFA sets out the governance arrangements for the trust, including the number and type of members and trustees, their terms of office, and the way in which they are appointed. It also covers the trust’s relationship with its member schools, including the appointment of local governing bodies and the delegation of responsibilities.
Curriculum
The MFA requires the trust to provide a high-quality education that meets the needs of its students and prepares them for adult life. It sets out the trust’s obligations in relation to the curriculum, including the subjects to be taught, the assessment arrangements, and the provision of special educational needs and disability (SEND) support.
Staffing
The MFA sets out the trust’s responsibilities in relation to staffing, including recruitment, selection, and retention of employees. It also covers the trust’s obligations in relation to pay, conditions of service, and professional development for staff.
Finance
The MFA specifies the funding arrangements for the trust, including the amount of funding it will receive, the conditions attached to the funding, and the reporting requirements. It also sets out the trust’s obligations in relation to financial management, including the preparation of budgets, financial reporting, and internal control.
Accountability
The MFA sets out the accountability requirements for the trust, including the way in which it is monitored and evaluated by the government and other bodies. It also covers the trust’s obligations in relation to data protection, freedom of information, and complaints procedures.
In summary, the academy trust master funding agreement is a crucial document that sets out the foundation for the relationship between an academy trust and its member schools. It is important for trust leaders and governors to understand the key elements of the MFA to ensure that their trust is compliant with its terms and conditions. Additionally, an academy trust MFA is a public document and should be readily available on the trust’s website for transparency and accountability purposes.