Financial Benchmarking and SFA
New legislation around equalities, transparency and accountability now requires all schools to publish a direct link from their school websites to the Schools Financial Benchmarking dedicated to their school using the unique reference number allocated by the Department for Education.
Financial benchmarking means comparing your finances with other schools and academies who have similar characteristics and challenges.
Areas that schools often compare are their income, expenditure, balance and workforce with either schools of a similar size or within their local authority (LA).
View Bournville's financial benchmarking on the government website
Our DfE Supplemental Funding Agreement (SFA)
A DfE Supplemental Funding Agreement (SFA) is a legally binding contract between the Secretary of State for Education and a Multi-Academy Trust (MAT). It outlines specific terms for an individual academy within a trust, including details on capacity, age range, and land, operating under a master funding agreement.
Key details regarding DfE SFAs include:
Purpose: They detail the specific arrangements for an individual school within a trust.
- Context: Used when forming a multi-academy trust, where the SFA complements the master funding agreement.
- Content: Contains specific information such as the name of the school, age range, and land arrangements.
- Approval: Revised models were introduced for academies opening on or after April 1, 2018.
