Your guide to the changes in the Academy Trust Handbook 2023

The Academy Trust Handbook describes the financial responsibilities of academy trusts reflecting their status as companies limited by guarantee, exempt charities, and public bodies. It’s a necessity that trusts comply with the handbook.

You can find the key updates of the Academy Trust Handbook 2023 in this article, as well as our session recording of the updates in detail.

Here you can find a summary of the changes to this year’s handbook:

• Compliance with statutory duties to ensure the health and safety of building occupants.
• Accounting officer & chief financial officer roles not occupied by the same individual.
• The board must have sufficient financial knowledge to hold executives to account.

Main financial requirements:

• 6 board meeting mandate scrapped: must have meetings at least 3 times a year.
• Budget forecast return deadlines extended; new deadline 31st August. 
• Budget monitoring - must prepare management accounts monthly. You can find the breakdown in the handbook as well as further 'musts'.
• Electric vehicle salary sacrifice schemes.
• Threshold raised for related transaction approval from £20,000 to £40,000.
• Clarity on notices to improve and when they may be issued.

For further information on any of these changes, please visit the Academy Trust Handbook webpage and download our ATH 2023 updates session recording below.

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