Academy Update (SRMSAT)

By School Finance Team on 18 Oct 2019

School Resource Management Self-Assessment Tool (SRMSAT)

This is a mandatory return that all academies, whether a MAT or a Single Academy Trust, must complete by 14th November.

It is similar to the SFVS return which maintained schools have to complete each year.

The SRMSAT helps assure governing bodies and trust boards that they are meeting the right standards to achieve a good level of financial health and resource management.

It can be used to identify areas for change to make sure resources are used to support high-quality teaching and the best education outcomes for pupils.

The tool consists of a checklist and a dashboard.

The checklist asks questions of governing bodies and trust boards in 6 areas of resource management.

The dashboard shows how a school’s data compares to thresholds on a range of statistics that have been identified by the Department for Education (DfE) as indicators of good resource management and outcomes.

The dash board RAG rates each individual question comparing your answer to an agreed benchmark.

The ESFA have kindly created a spreadsheet that you should use to begin compiling your data now, in preparation for the on-line return’s release later in October.

We, at One Education have completed the SRMSAT for 1 academy school and it took about half a day to extrapolate and input the data, and about half a day to interpret the results for the head teacher and trustees.

As a guide therefore I would advise you put a day aside to complete the SRMSAT prior to the deadline in November.

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