The Department for Education (DfE) has issued an update to its new Academies Financial Handbook, just two months after it took effect.
The update to the 2013 edition of the handbook, which became effective from 1 September 2013, was issued on 31 October. The amendments include:
- granting a leasehold on land and buildings
- not-for-profit principles that apply to the supply of goods and services to academy
- trusts by sponsors and connected parties
- how the delegations and freedoms in the handbook apply when they go beyond those in a trust’s funding agreement.
The DfE has produced a factsheet including more details on the changes. For more information on any aspect of the Academies Financial Handbook, please contact the team at Nicklin.