House of Lords written question – answered at on 12 November 2012.
To ask Her Majesty's Government what mechanisms are in place to ensure responsible spending of public money on free schools.
Free schools are funded on the basis of equivalence with the funding of maintained schools in the same local authority area. Academies including free schools have a contract with the Secretary of State called the funding agreement. This together with the academies financial handbook provides the accountability regime for all academies which includes the requirement to produce annual audited accounts. The funding agreement also gives the Secretary of State a range of intervention powers. Before free schools open the department provides a development grant which must be spent in accordance with the conditions of grant and accounted for in annual accounts. Capital funding is determined on a school-by-school basis.
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No0 people think not
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