We wrote this article with the help of David New and Graeme Hornsby, our associate education experts.
You must set financial KPIs
Your trust is required to:
- Select key financial performance indicators
- Measure its performance against them regularly
- Include analysis in the annual trustees’ report
This is explained in the Academy Trust Handbook (see paragraph 2.22).
Our template CEO report to trustees has a section that lets your CEO record your trust's performance against its KPIs.
The handbook doesn't specify any particular KPIs
However, some you could use for financial performance include:
- Spending on particular areas as a percentage of total expenditure (e.g. on teaching staff, supply staff, premises, teaching resources and energy)
- In-year balance as a percentage of total income
- Revenue reserves as a percentage of total income
- Average teacher cost
Remember that everything your trust spends is about improving outcomes for