Schemes of financial delegation for multi-academy trusts (MATs)
You must have a scheme of financial delegation, but what that looks like depends on how your trust manages its finances. Read expert advice, see an example of how to delegate to different roles, and view examples from other schools.
You must have a written scheme of financial delegation
This is set out in the Academy Trust Handbook (see section 2.4). The scheme must be approved by the board of trustees, and must:
- Maintain robust internal controls
- Be reviewed annually
- Be reviewed immediately following a change in trust management or organisational structure
The board can't delegate overall responsibility for the trusts’ finances, and so remains responsible for any annual or immediate reviews.
Sections 2.6 and 2.7 of the same guidance explain that good internal controls include:
Note, having a scheme of financial delegation is one part of having a general scheme of delegation. Your board of trustees must publish the scheme of delegation on its website. This is explained