The majority of Multi-Academy Trusts ask for a financial contribution of between 5 – 9% of the General Annual Grant (GAG) and on occasions from other income streams, as well as the total amount of the Educational Services Grant (ESG).
The Pioneer Academy Trust requires a financial contribution of 5% of GAG. For smaller schools joining the academy, there is a sliding scale from 3.5% to 6% for the first two years after conversion - enabling the school to achieve a secure financial footing. After which the 5% contribution will apply. At the end of each financial year, any surplus working capital will be taken into the central fund and used for the benefit of all schools within the trust.
If the school is on special measures or requires improvement, additional contributions may be requested because of additional input required from the central team. For example, a school on special measures may be asked for a 6% contribution and 50% of their ESG.
As central Government funding changes over time, the Trust board reserves the right to alter the level of contributions required from the GAG and ESG.
Each school’s budget will be set (each year) against the School’s Development Plan targets, with the CEO, Head Teacher, School Business Manager and Head of Finance.
“... and the main thing is learning.”
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