Agenda item

Report of the Chief Executive Officer, City of London Academies Trust.

Members considered a report of the Chief Executive Officer, City of London Academies Trust regarding financial scrutiny of City academies. The Chairman noted that as sponsor of the City academies, the City of London Corporation acting through the Education Board should reserve the right to inspect academy finances.

A Member suggested that it would be a useful exercise to conduct a financial ‘stress test’ of a hypothetical chain of circa twelve academies.

RESOLVED, that Members

·         Endorse the proposal to formalise the central financial scrutiny of the City’s academies as outlined within the report.

·         Request that the City of London Academies Trust Board share with the City of London Corporation any recommendations that they adopt.