Heath View primary school in Wakefield had £300,000 transferred to the trust in September 2016. Another school, Wakefield City Academy, had more than £800,000 transferred towards the end of 2015. In both cases the trust told the schools’ governors that the transfer was a loan. Wakefield City Academy even received a number of small repayments. However, since the trust’s collapse both schools have been told that it no longer acknowledges the transactions as loans. … [Read more...] about Collapsing academy trust ‘asset-stripped its schools of millions’
Peninsula preparatory academy charter school
It had been rated "inadequate" by Ofsted in April 2016, but was judged to be "good" in July 2019, with inspectors noting the "high expectations of behaviour" contribute to "a calm, purposeful learning environment". … [Read more...] about Great Yarmouth Charter Academy Head Barry Smith to step down
Today it is estimated that Dwan, from a Manchester working-class family, is worth £75m; he and his wife, Amanda, own Rusland Hall, the stately country house in the Lake District that was once home to the socialist Beatrice Webb’s family. Three of his five children are said to attend the £16,000-a-year private Windermere school where Dwan is chair of governors. In February last year the Charity Commission examined payments to Equity Solutions from Windermere because of concerns over the “number and value” of the related party transactions but, aside from some minor recommendations on disclosure and a difference of opinion on whether payments to governors were allowed under the school’s articles of association, it gave the governors a clean bill of health and took no regulatory action. … [Read more...] about Are England’s academies becoming a cash cow for business?
The new figures have emerged after the EFA reviewed the financial statements of all academy trusts to identify contentious transactions such as related party transactions – defined as “a transfer of assets or liabilities or the performance of services by, to, or for a related party”. … [Read more...] about Nearly half of academy trusts paid millions to ‘dubious’ contacts
The DfE said alternative provision was more expensive than mainstream schooling and that many pupils using it for short periods would not be counted in the data as they would still be registered as attending a mainstream school. It added that, using similar calculations, 11 pupil referral units or alternative schools in the local authority sector were funded at £400,000 per pupil or higher, though it could not direct us to the source of this data. … [Read more...] about Taxpayer funds ‘alternative provision’ free schools at up to £430,000 a pupil