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The Fernwood School

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Value for Money Statement


Company number: 7597390

Year ended 31 August 2019

I accept that as accounting officer of THE FERNWOOD ACADEMY TRUST I am responsible and accountable for ensuring that the academy trust delivers good value in the use of public resources. I am aware of the guide to academy value for money statements published by the Education Funding Agency and understand that value for money refers to the educational and wider societal outcomes achieved in return for the taxpayer resources received.

I set out below how I have ensured that the academy trust’s use of its resources has provided good value for money during the academic year.

I set out below how the academy has ensured that its resources have provided good value for money during the academic year.

The Governors of The Fernwood School are committed to achieving Best Value in all decisions made. We use the principles of Best Values as they apply to securing continuous improvement in this academy and will:

  • Regularly review the functions of the academy, challenging how and why services are provided and setting targets and performance indicators for improvement.
  • Monitor outcomes and compare performance with similar academies and within the academy.
  • Consult appropriate stakeholders before major decisions are made; and promote fair competition through quotations and tenders to ensure that goods and services are secured in the most economic, efficient and effective way.

We will strive to ensure that the academy is using its resources effectively to meet the needs of students. We will set and submit an annual budget plan; both the progress of the annual budget and the Best Value statement will be monitored with the Academy Action Plan in order to determine the extent of continuous improvement. The academy has in place a strategy and a set of guidelines, updated annually, which will ensure that Best Value will be reviewed and demonstrated

Curriculum; Continue to raise standards through;

  • Quality First Teaching
  • Focused intervention strategies for targeted students
  • A whole academy approach to ensuring good progress for all students

Academy Systems; Maintain a MIS to enable;

  • Staff to access information about students and to be able to input data into the one system, including attendance, assessment and the code of conduct.
  • Parents/carers to access information regarding their child.
  • The academy to comply with regulations on real time reports.

Academy Leadership and Management; To continue to support;

  • Middle leaders and Senior Leader through leadership programmes and mentoring.

Ensuring that there is a systematic approach by the Governing Body to check the effectiveness of the provision by:

  • Placing monitoring on the Governors’ meeting agendas as outlined in the monitoring calendar
  • Monitoring assessments and exam results and ensuring regular review of all policies.

Improving academy effectiveness by:

  • Carrying out classroom observations by teachers and/or outside agencies, in line with the agreed calendar for monitoring and as part of Appraisal.

Financial Management; Improving efficiency of Financial Management by;

  • Ensuring regular monitoring of the annual budget and annual medium term financial planning
  • Ensuring Best Value principles are applied to all quotations and tenders
  • Ensuring Governors are fully involved and kept informed of the academy’s financial position through regular reporting at the Finance Committee and Full Governors meetings.

Resources; Ensuring Best Value principles are applied to the purchase of resources by:

  • Major purchases are monitored for effectiveness by the Governors against raising standards throughout the academy and are in line with the academy’s priorities.

Premises; To monitoring effective use of the academy environment by:

  • Applying Best Value principles at all times
  • Reviewing the Health and Safety policy
  • Monitoring the spending of devolved capital in line with the above.

Name: Mr P Burke
Academy Trust Accounting Officer

Date: 27 Nov 2019

Head Teacher – Mr P Burke
The Fernwood School, Goodwood Road, Wollaton, Nottingham, NG8 2FT
0115 9286 326 |
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