Converting to academy status is an attractive proposition for many schools and is intended to lead to greater innovation and the raising of standards. However, additional flexibility brings increased responsibility, and this is where Dodd & Co can assist.
- Have greater freedom from local authority control giving them the ability to set their own pay and conditions for staff; flexibility around the delivery of the curriculum and the ability to make changes to the length of terms and school days
- Gain access to the budget traditionally retained by the local authority to provide central functions: such as accountancy, legal services, Health & Safety, and insurance
Dodd & Co have put together a range of support packages for academies offering a variety of services from basic bookkeeping support right through to termly finance reviews with the board of directors and the audit of your financial statements
So, what can we do for you?
- Offer initial Conversion Support; Assistance with accountancy software installation, Set-up, training and implementation of financial control systems, whilst also helping with preparation of initial and future budgets. Schools converting to academy status are eligible to apply to the Department for Education for grants to cover one-off costs incurred in the conversion process - we can also assist with this process.
- Provide ongoing support with Academy Statutory Audit & Full Annual Accounts preparation including annual reports and liaising with HMRC, whilst assisting with or completing the Academy Accounts Return for filing with the Education & Skills Funding Agency
- Offer Payroll services, support and other regulatory matters (including Teachers Pension Scheme and Local Government Pension Scheme / certificates for funders and other bodies). This includes reviews of banking arrangements, help with accounting software, training & support, assisting with the role of Accounting officer, VAT and corporation tax advice issues, eg trading activities (eg letting income) and property transactions. We will also provide guidance on financial and regulatory compliance including understanding the Academy Accounts Direction and training and guidance for governors and the finance team
- We’re also always here to advise in other areas such as business planning, business case preparation, corporate structure and guidance and support on VAT issues as required
To find out more about how we can assist you please contact Martin Ward.