Skip navigation


School Resource Management Self Assessment Tool (SRMSAT)

Date published: Date modified: 2021-10-18

Updated 25/03/2021

It is compulsory for all academies and MATs to complete and submit this form by 15 April 2021.

What is the School Resource Management Self Assessment Tool?

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:

  • A set of 42 questions in a checklist. 
  • An Excel based dashboard which will allow MATs to complete the data for up to 20 schools. (Larger MATs should contact the ESFA to discuss how to submit their data.)
  • RAG ratings for expenditure with an update on teacher uplifts.

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. 

What will I be asked?

The checklist comprises of 42 questions covering the following areas:

  • Governance: Includes challenge and support skills of members, the number of monitoring reports received, conflicts of interest and related party transactions. 
  • Trust Financial Strategy: Includes three-year financial planning, going concern assessment and integration with your trust improvement plans. 
  • Setting the annual budget: Includes pupil number assumptions, budget comparison and future plans.
  • Staffing: Includes a review of your staffing structure and whether senior leader pay is correlated to educational outcomes.  
  • Value for money: Includes benchmarking, collaboration, and procurement procedures.
  • Protecting public money: Includes review of actions from previous audit reports, whistleblowing, and financial accounting system.
  • Self-Assessment Dashboard: Includes consideration of the results on the attached dashboard which includes a RAG rating and any additional actions. 
You will be able to answer each question 'yes', 'no' or 'in part'. For all questions answered 'no' or 'in part', you must provide further comments and a target date that this will be completed. 

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.

What if I need support? 

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:

  • Reviewing your SRMSAT checklist.
  • Assisting you with the completion of your submission.
  • Preparing financial benchmarking reports for you to consider at your next trustee meeting, in accordance with SRMSAT requirements.

If you would like our assistance, then simply click here to get in touch and arrange your half day finance session from one of our expert consultants. 


Related Articles:

It's Time to think about your school financial value standard

By SAAF Finance
SAAF Education 340 110

27 November 2020



Subscribe to our blog

Be first to receive the latest news and updates from SAAF Education