Moved by
Lord Hunt of Kings Heath
79: After Clause 30, insert the following new Clause—
“School reserves and income raising
(1) Where an academy or maintained school comes under the control of a Multi Academy Trust, the reserves of the school must be—
(a) independently audited to arrive at an agreed level;
(b) ring-fenced for the exclusive use of the school for the benefit of that school's pupils with any expenditures required to be agreed by the Local Governing Body of the school.
(2) Where an academy or maintained school comes under the control of a Multi Academy Trust, any income generated by the school including the renting out of premises when under the control of the Multi Academy Trust must be used exclusively for the benefit of that school's pupils with expenditures required to be agreed by the Local Governing Body of the school.”
Member's explanatory statement
The amendment is designed to ensure that where an academy or maintained school comes under the control of a Multi Academy Trust, the reserves and income generating activities of the school can only be used with the agreement of the Local Governing Body of the school exclusively for the benefit of that school's pupils.