Common use of Financial and Accounting Requirements Clause in Contracts

Financial and Accounting Requirements. ‌ General‌ 4.1. In order for the Secretary of State to provide grant funding to the Academy Trust, the Academy Trust must be fulfilling the financial and reporting requirements in this Agreement. 4.2. In its conduct and operation, the Academy Trust must apply financial and other controls which meet the requirements of regularity, propriety and value for money. 4.3. The Academy Trust must appoint an accounting officer and must notify the Secretary of State of that appointment. The Academy Trust must assign to the accounting officer the responsibilities of the role set out in the Academies Financial Handbook and HM Treasury’s publication ‘Managing Public Money’. 4.4. The Academy Trust must abide by the obligations of, and have regard to the guidance for, charities and charity trustees issued by the Charity Commission and, in particular, the Charity Commission’s guidance on ‘Protecting Charities from Harm’. Any references in this document which require charity trustees to report to the Charity Commission should instead be interpreted as reporting to the body or person prescribed as the principal regulator under the Charities Act 2011. 4.5. [This clause only applies where the Academy has 16-19 provision – otherwise mark clause 4.5 as ‘Not used’] The Academy Trust must comply with the 16 to 19 Funding Guidance published by the Secretary of State, in respect of its provision for pupils above compulsory school age until the academic year in which they reach the age of 19.

Financial and Accounting Requirements. ‌ General‌ 4.1. 4.1 In order for the Secretary of State to provide grant funding to the Academy Trust, the Academy Trust must be fulfilling the financial and reporting requirements in this Agreement, and any Supplemental Agreements. 4.2. 4.2 In its conduct and operation, the Academy Trust must apply financial and other controls which meet the requirements of regularity, propriety and value for money. 4.3. 4.3 The Academy Trust must appoint an accounting officer and must notify the Secretary of State of that appointment. The Academy Trust must assign to the accounting officer the responsibilities of the role set out in the Academies Financial Handbook and HM Treasury’s publication ‘Managing Public Money’. 4.4. 4.4 The Academy Trust must abide by the obligations requirements of, and have regard to the guidance for, charities and charity trustees issued by the Charity Commission and, in particular, the Charity Commission’s guidance on ‘Protecting Charities from Harm’. Any references in this document which require charity trustees to report to the Charity Commission should instead be interpreted as reporting to the body or person prescribed appointed as the principal regulator under the Charities Act 2011. 4.5. [This clause only applies where the Academy has 16-19 provision – otherwise mark clause 4.5 as ‘Not used’] The Academy Trust must comply with abide by the requirements of the current 16 to 19 Funding Guidance published by the Secretary of State, in respect of its any provision for pupils students who are above compulsory school age until the academic year in which they reach the age of 19.

Financial and Accounting Requirements. ‌ General‌ 4.1. 4.1 In order for the Secretary of State to provide grant funding to the Academy Trust, the Academy Trust must be fulfilling the financial and reporting requirements in this Agreement, and any Supplemental Agreements. 4.2. 4.2 In its conduct and operation, the Academy Trust must apply financial and other controls which meet the requirements of regularity, propriety and value for money. 4.3. 4.3 The Academy Trust must appoint an accounting officer and must notify the Secretary of State of that appointment. The Academy Trust must assign to the accounting officer the responsibilities of the role set out in the Academies Financial Handbook and HM Treasury’s publication ‘Managing Public Money’. 4.4. 4.4 The Academy Trust must abide by the obligations requirements of, and have regard to the guidance for, charities and charity trustees Charity Trustees issued by the Charity Commission and, in particular, the Charity Commission’s guidance on ‘Protecting Charities from Harm’. Any references in this document which require charity trustees Charity Trustees to report to the Charity Commission should instead be interpreted as reporting to the body or person prescribed appointed as the principal regulator under the Charities Act 2011. 4.5. [This clause only applies where the Academy has 16-19 provision – otherwise mark clause 4.5 as ‘Not used’] The Academy Trust must comply with abide by the 16 to requirements of the current 16-19 Funding Guidance published by the Secretary of State, in respect of its any provision for pupils students who are above compulsory school age until the academic year in which they reach the age of 19.