Fylde Coast Academy Trust VFM Statement 2013-14

Value for Money Statement Academy trust name: Fylde Coast Academy Trust Academy trust company number: 08364709 Year ended 31 August 2014 I accept that as Accounting Officer of Fylde Coast Academy Trust I am responsible and accountable for ensuring that the academy trust delivers good value in the use of public resources. I am aware of the guide to academy value for money statements published by the Education Funding Agency and understand that value for money refers to the educational and wider societal outcomes achieved in return for the taxpayer resources received.

During the year ended 31 August 2014 Fylde Coast Academy Trust included one sponsored academy, Unity Academy Blackpool.

To ensure that the educational outcomes at Unity improve, the Trust reviewed the staffing structure and deployed staff efficiently to support an improved curriculum, for example by appointing an experienced Vice Principal to lead Primary education and seconding in a senior data manager at cost.

The Trust developed practices of collaboration between Unity and the Sponsor organisations, Blackpool Sixth Form College and Hodgson Academy, by establishing curriculum groups in key areas, such as English and maths, to share best practice and drive up standards.

These and other initiatives contributed to improvements in: •

Educational attainment, with achievement of 5 A*-C GCSEs including English and maths increasing from 29% in the prior year at the predecessor school to 42%;

•

Attendance, increasing to 94.2% from 91.6% in the prior year at the predecessor school.

The Directors and I have put into place an effective system of financial governance including strong oversight. At each Board of Directors meeting, the financial position is presented by the Chief Financial Officer and the Directors and I provide both challenge and advice on achieving value for money.

A Risk Register is maintained in which identified risks are recorded and an assessment of risk is a standing item on the agenda of meetings of the Board of Directors. Systems and procedures are in place to minimise the risks identified including operational procedures and internal financial controls reviewed by the Audit Committee and I on a termly basis.

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The Trust has also developed effective purchasing procedures to support the achievement of cost efficiencies. Tendering procedures have been used appropriately for large contracts such as the provision of print services. Following the addition of two more sponsored academies shortly after the year end, the Trust has recently established a procurement group with representatives from each academy together with the Sponsor organisations, to share best practice and improve efficiencies in the procurement processes in the coming year.

During the year, the Trust has expanded its governance department to offer Governance Services to external customers to generate additional revenue and this has been well received. The Trust has also established an investment policy allowing short term surplus funds to be invested in approved fixed term accounts to generate investment income.

Felicity Greeves Accounting Officer 10th December 2014

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