Last year the ESFA released the School Resource Management Self Assessment Tool (SRMSAT). This year it is compulsory for all academies and MATs to complete and submit this form by 15 March 2021.
This tool supports in providing trust boards with assurance they are meeting the basic standards necessary to achieve a good level of financial health and resource management. It can be used to identify potential changes to ensure resources are used to support high quality teaching and the best education outcomes for pupils. It is mandatory for all academy trusts to complete the school resource management self-assessment tool and submit their completed checklist to the ESFA on an annual basis.
The tool includes:
The checklist should be completed at academy trust level and the online form used to submit your checklist is available now.Last year only the checklist was required for submission, this year both the checklist and dashboard must be completed and submitted on time.
The checklist comprises of 42 questions covering the following areas:
The Chair of the trust board must sign off the introduction and outcome section of the dashboard, which includes any agreed actions and the timetable for completion before submission to the ESFA.
We are running a SRMSAT webinar 9th December 2020 at 13:30 which will give an overview of the following areas:
Our consultants will gladly take the pressure away from you by supporting and guiding you through the process; ensuring your questions are signed off and submitted to the ESFA in a timely manner.
With our support, you will be able to produce everything you need for SRMSAT compliance, including:
If you would like our assistance, then simply click here to get in touch and arrange your half day finance visit from one of our expert consultants.