The Academies Financial Handbook (AFH) 2015, effective from 1
September 2015, was published by the Education Funding Agency (EFA)
on 22 July 2015. The latest edition carries far fewer changes than
we have seen in recent revisions, but nevertheless there are some
important changes that you will need to be aware of.
Lord Nash's foreword talks about change, and evolvement of
the handbook from the early, highly prescriptive versions. He also
emphasises the need for academy boards to keep all aspects of their
operations under review to ensure that public funds are spent
efficiently, and for them to continually strive to improve
governance.
The AFH lists out the key changes, which are largely in relation
to governance. We have summarised below along with our comments on
what the changes may mean to you and your school:
