Our central finance team, led by the Trust’s Chief Financial Officer, work with schools to ensure effective financial management and planning. The team provides support to school business managers, Headteachers and administration staff to help them to plan and manage their budgets effectively, to ensure financial compliance with DHMAT financial policies and audit requirements. Planned meetings and ad hoc support are provided along with monthly management packs.
What percentage of each school’s GAG income does the DHMAT take?
- The DHMAT ‘top slice’ is equivalent to 5% of GAG income. This is standard for most MATs
- 73% of MATs in Kreston Benchmarking report use this funding structure
What does the top slice pay for?
- Safeguarding lead
- Quality of Education partner
- GDPR and HR
- Trust wide policies
- The Key
- Governor Hub
- Capital project bids
- Diocesan partnership
- Well-being package
- School improvement
- Central Team Salaries including CEO and CFO
What about reserves? How does this work in DHMAT?
- MATs are viewed by the ESFA as a single financial entity. All MATs must hold a ‘sufficient’ level of reserve as a risk mitigation measure to protect all academies.
- DHMAT reserves policy = equivalent of 1 month’s payroll. 78% of SATs and MATs in Kreston benchmarking have a similar policy. Some larger MATs have minimum percentage then additional reserves available for capital works and ICT developments.
What services do you provide?
- Strategic financial support for 3-year budget planning, finance software PSF ledger and HCSS
- Regular training, network meetings, bulletins and support for all academy business managers
- Support and advice on budget setting and scenario modelling
- Monthly budget monitoring support and termly meetings
- Finance representation at Governor meetings
- Central procurement and contract negotiation including insurance queries and policy cover
- Single DHMAT bank account (individual school reserves recognised in ledger system)
- All BACS runs, bank reconciliations and VAT returns completed by central team
- Support with grant applications
- Administration of the TPS and LGPS including annual certificates and audit administration
- Preparation and audit of annual accounts – audit fee paid centrally
- Completion and submission of all reports required by DfE and EFA
- Ensure compliance to the Academies Handbook and Accounts Direction
- HR, including named contact and additional support via Shropshire HR
- Statutory audit fees and bank charges
How does this support work?
As a school within DHMAT you will have a named link for these aspects of our work. Meetings can take place on a face to face or virtual basis. DHMAT offers support for schools on a same day response basis and in the case of an urgent need, within the hour. This personal, professional approach enables school leaders to be effectively supported in running their schools.