All academy trusts that have an open academy on 31 December 2020 must complete the school resource management self-assessment tool (SRMSAT) and submit this to the Education and Skills Funding Agency (ESFA).
This tool helps trusts to manage their resources effectively and to identify any adjustments they need to make.
The deadline for submitting the SRMSAT checklist has now changed to 15 April 2021.
The tool comprises of two parts:
- A checklist, which asks a number of questions of trust boards in six areas of resource management to provide assurance that the trust is managing its resources effectively. This is completed at trust level; and
- A dashboard, that shows how a school’s data compares to thresholds on a range of statistics that have been identified as indicators for good resource management and outcomes. This should be completed at school level.
New academy trusts that open on or after 1 January 2021, must complete a financial management and governance self-assessment.