An investment in knowledge pays the best interest

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Interestingly, this year some of the criteria that would be used to determine access to the Condition Improvement Fund (CIP) favours those with strong governance and good financial management.

It would appear that if schools follow the advice of Lord Agnew they stand to score more points to benefit from the CIP, conversely applicants will lose four points if they pay two or more salaries over £100,000 or one salary over £150,000. The following rules also apply:

  • an extra point for applicants that have signed-up to the most recent government funding agreement;
  • deductions of up to four points for applicants that have not submitted a financial improvement plan following a visit from a School Resource Management Adviser; and
  • further scrutiny for successful projects worth more than £1 million.

Good governance is not a by-product of running a Trust, it is part of the overall strategic plan and essentially complying with the body of instructions from government and the DFE.

Our resident governance experts can help you create the Trust that you are trying to build by looking at your current governance model, strategic plan or performing a governance health check.

For more information on this, or any other education legal issues you’re interested in, please contact a Partner in our Education Team or call 0191 211 7777.