Financial documents bundle

HFL0068

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This bundle includes the following products at a discounted price:

Risk management strategy

Academy trusts are required to have in place a risk management strategy that complies with risk management best practice and sets out the processes and responsibilities for managing risk within the academy trust. This policy sets out a standard approach to risk management which can be tailored to each individual trust’s requirements. We have highlighted in yellow areas to be amended by the Trust to include nominated individuals for certain roles and responsibilities.

Risk register

The Academies Financial Handbook states that academy trusts should maintain a risk register as part of their risk management processes. Herts for Learning has designed a generic template for this risk register for use by all academy trusts. We have included suggested risk areas for review to include operational, strategic, financial and reputational. The template encourages academy trusts to review the probability and impact of these risks and to consider what controls are currently place and to be aware of any gaps.

Treasury Management and Internal Controls

The Academies Financial Handbook requires that academy trusts must establish a control framework to include treasury management and discipline in financial management. Herts for Learning has created a treasury management and internal controls policy for academy trusts to meet this requirement, focusing on the handling of public funds through both expenditure and income processes. This policy sets out a standard approach to risk management which can be tailored to each individual trust’s requirements. We have highlighted in yellow areas to be amended by the Trust to include nominated individuals for certain roles and responsibilities. Paragraphs in italics provide further information to the academy trust however should be deleted from any final versions of the policy.

Operational Scheme of Delegation

The Academies Financial Handbook states that trusts must ensure that internal delegation levels exist and are applied within the trust. This written scheme of delegation must be approved by the Trust Board. Herts for Learning have created a template operational scheme of delegation for use by all academy trusts.

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