The ESFA have issued a Financial Notice to Improve (FNtI) to Bolton University Technical College, dated 23 February 2018. The FNtI was issued due to a number of non-compliance points with the Academies Financial Handbook. The FNtI was issued in follow up to a Financial Management and Governance Review issued in September 2017.
The key themes from the review were:
What lessons can we learn from the latest review?
The final piece of advice we would give to all our clients is that all decision making processes are clearly documented and approved to ensure that if there is any challenge you can clearly demonstrate how conclusions were made. Even if the ESFA disagree with your final conclusion, you will at least be able to demonstrate that you have followed due process and a decision making process.
If you have any queries in the meantime please do not hesitate to contact your usual Bishop Fleming representative.
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