Academy reviews of value for money

Academies must include a review of value for money in their annual accounts. Read about the purpose and structure of the review, and see examples from other academy trusts.

Last reviewed on 10 November 2023
School types: AcademySchool phases: AllRef: 9536
Contents
  1. Academy trusts must make sure spending represents value for money
  2. Purpose and structure of the review
  3. Examples should be concise and focus on key areas
  4. Take a look at a model governance statement
  5. See school examples of value for money reviews

Academy trusts must make sure spending represents value for money

The accounting officer is responsible for demonstrating how the trust has secured value for money, through the governance statement in the audited accounts.

This is set out in paragraph 1.34 of the Academy Trust Handbook.

Read more about the roles and responsibilities of the accounting officer.

Purpose and structure of the review

The purpose of the 'review of value for money' section of the governance statement is to give accounting officers the chance to:

  • Demonstrate to parents and the public that the trust's use of public assets has supported value for money this year
  • Identify opportunities for potential improvement (if relevant)

The value for money section is made up of 2 sections:

This information is on pages 22 and 23 of

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