Financial probe carried out at Dudley schools trust
A probe into an academy trust which runs three schools in Dudley uncovered a string of financial irregularities.
The investigation into the drb Ignite multi-academy trust – behind Beechwood CE Primary in Dudley, The Bromley Pensnett Primary in Brierley Hill and Hob Green Primary in Stourbridge – found ‘significant failings and weaknesses in [its] financial management and governance arrangements’.
And trust bosses have been warned that if they cannot meet imposed conditions the Government could even take over the running of the schools.
The review was sparked after allegations of financial issues at The Bromley Pensnett Primary in July last year.
Education and Skills Funding Agency (ESFA) investigators visited the schools in February and ‘identified a number of significant failings and weaknesses in governance arrangements that breach the Academies Financial Handbook (AFH)’.
The review concludes: “Our work on site identified a number of significant failings and weaknesses in financial management and governance arrangements.
“The issues identified in the report need to be urgently addressed to ensure internal control arrangements within the trust are operating effectively and assure the safeguarding of public funds. The trust must undertake a review of governance arrangements, including the issues highlighted during our work and confirm in an action plan to ESFA how the required improvements will be managed.”
Richard Martin, chairman of drb Ignite Multi Academy Trust, said: “The EFSA has issued drb Ignite Multi Academy Trust with a Financial Notice to Improve as a result of an financial audit in February of this year.
“In the time since receiving the draft report, drb Ignite Multi Academy Trust has made significant progress in addressing the areas needed for improvement. It has acted swiftly on a number of fronts, most importantly a root and branch review of its governance structures and financial controls.
“Much work has already been completed and drb Ignite Multi Academy Trust is confident that it will meet and fulfill all compliance requirements in the shortest possible time.” It must report back next month.
