The Finance Department is responsible for providing effective financial services and supporting service users in order that the Academies within the Trust can effectively manage their budgets and enhance its financial stability.
The broad objectives of the Finance Department are to provide a timely, efficient and cost-effective service to all staff, students and external organisations by:
- Continuing to improve the level of operational efficiency of the Finance Department
- Maintaining effective working relationships with the rest of the Trust
- Continuing to improve the quality and timelines of financial information supplied to service users
- Meeting the deadlines set by external organisations such as DfES, ESFA, Internal and External auditors, HMRC etc
- Ensuring Trust-wide compliance with the Financial Regulations.
The Finance Department under the management of the Head of Finance is primarily responsible for:
- The maintenance of the accounting records of the Academy
- Preparing annual estimates and budgets and monthly updates of income and expenditure for consideration by the Trust Board, Academy LGB’s and Academy Heads.
- Preparing 3-Year Financial Forecasts for consideration by Trustees
- Management accounting and associated advice
- Monitoring and maintaining the liquidity of the Trust
- The processing of financial transactions
- Safeguarding assets through the provision of adequate Insurance cover