Goldington Green Academy issued with Notice to Improve on financial grounds
Goldington Green Academy has been issued with a Notice to Improve over management of its finances.
The action, by the Department of Education, relates to concerns regarding the Academy’s “weak financial position and financial management”.
It also states that inaccurate financial information was provided to the department and that the Academy “must manage its cash position robustly and avoid becoming overdrawn on any of its bank accounts”.
The Academy, however explained the problems were due to ongoing pressures on public funding, with school income struggling to keep pace with rising inflation and expenditure, including costs to fund staff pay rises and maintain buildings.
It has now been given time to resolve the issues but warned the DfE could issue a revised notice and that the case may ultimately be referred to the Charity Commission and/or Insolvency Service for further investigation.
The DfE letter to the chair of governors states: "We recognise the cooperation and extensive discussions that have taken place between the trust and officials and the changes you have already made to strengthen accounting and internal financial controls. However, our concerns remain in relation to the weak financial position and financial management at the trust.
“This letter and its annexes serve as a written Notice to Improve financial management at the trust. It reflects the weak financial position of the trust, significant breaches of the Academy Trust Handbook (ATH) , and that inaccurate financial information was provided to the department.”
Specific concerns over breaches of the Academy’s ATH, include:
1.6 The majority of members should not also be trustees.
2.17 The board of trustees must notify ESFA within 14 calendar days of its meeting, if proposing to set a deficit revenue budget for the current financial year, which it cannot address after taking into account unspent funds from previous years, as this would be non-compliant with the funding agreement and this handbook.
2.18 The trust must prepare management accounts, including an income and expenditure account, variation to budget report, cash flow forecasts and balance sheet every month setting out its financial performance and position.
2.19 Management accounts must be shared with the chair of trustees every month and the board must consider these when it meets and be assured that it has appropriate oversight of the trust’s financial position.
2.20 The board must ensure appropriate and timely action is being taken to maintain financial viability, including g addressing variances between the budget and actual income and expenditure.
2.21 The trust must manage its cash position robustly. It must avoid becoming overdrawn on any of its bank accounts so that it does not breach restrictions on borrowing.
Headteacher, Caroline Skingsley, said: "We can confirm that Goldington Green Academy has received a Financial Notice to Improve (FNtI) from the Department for Education (DfE), after requesting a short-term loan from DfE earlier in 2025 to support its operational needs. The FNtI reflects the DfE’s concerns about the short-term financial resilience of the Academy.
“This development came amid ongoing pressures on public funding, with school income struggling to keep pace with rising inflation and expenditure. Like many schools nationally, Goldington Green Academy has faced increasing costs to fund staff pay rises, maintain its buildings, and continue delivering high-quality services to children and our wider community.
“Despite these challenges, the school remains committed to improvement and has already taken steps to strengthen its financial position. A financial recovery plan is in place, and the school is receiving free support from HEART Academies Trust - a respected Bedford-based trust comprising both primary and secondary schools - including temporary CFO services to ensure compliance and stability.
“Looking ahead, Goldington Green Academy has a very exciting future. It has formally applied to join HEART Academies Trust and the application has been approved by the DfE Regional Director team. Subject to a wider consultation process, Goldington Green hopes to join HEART in early 2026. This move will give Goldington Green more financial resilience being part of a group of Schools instead of on its own.
“Goldington Green Academy remains focused on delivering excellent education and is confident that joining HEART will strengthen its ability to serve its pupils and community for years to come.”
The trust is required to publish the Notice on its website within 14 days of it being published.