Academies: Sponsorship
Children, Schools and Families
Written answers and statements, 3 November 2009
Bob Russell (Colchester, Liberal Democrat)
To ask the Secretary of State for Children, Schools and Families if he will make it a requirement for organisations in charge of academies to publish annual financial accounts, including details of salaries; and if he will make a statement.
Vernon Coaker (Minister of State (Schools and Learners), Department for Children, Schools and Families; Gedling, Labour)
All academy trusts (which includes charitable trusts running more than one academy) are required to publish annual accounts in accordance with the Companies Act 2006. The Charity Commission has published a "Statement of Recommended Practice" which clarifies how charities should prepare their accounts in order to reflect these legal requirements. The Statement of Recommended Practice states that charities which are subject to a statutory audit (this includes academy trusts) should include a note in their accounts disclosing the number of employees whose emoluments were £60,000 or above, presented in £10,000 bandings. The Department expects academy trusts to comply with the "Statement of Recommended Practice."