About Us‎ > ‎News‎ > ‎

AET Financial Notice to Improve is lifted

posted Jul 10, 2017, 9:10 AM by Google Google   [ updated Jul 10, 2017, 9:12 AM ]

AET today warmly welcomed the news that the Education and Skills Funding Agency has lifted the Financial Notice to Improve which was imposed on the organisation in October 2014.  The measure was intended to improve the financial management, control and governance at the Trust.

AET has seen a significant amount of change in the last year, including the appointment of a new Chair, Jack Boyer OBE in June 2016, and a new CEO, Julian Drinkall, from January 2017.  Under this new leadership the Trust has developed a comprehensive turnaround strategy which was agreed with the Department for Education (DfE) earlier this year, and which embraces financial performance, educational improvement and portfolio realignment.

The lifting of the Financial Notice to Improve is an indication of confidence in the financial and operational processes now in place, around a realigned portfolio of schools.  In terms of educational performance, the provisional results from primary schools released last week show 40%  of AET’s primary academies above the national average, while more than three-quarters (78%) of the schools showed an improvement from last year.  

Meanwhile AET is currently engaged in a number of discussions with the DfE regarding its portfolio of academies.  Two schools are already in the process of being rebrokered (Everest Community Academy in Basingstoke, and Cordeaux Academy in Louth, Lincolnshire) while a small number of further schools are expected to follow in the Autumn.  AET is also currently engaged in a consultation on the Isle of Wight, regarding proposals to amalgamate Sandown Bay and Ryde Academies, both of which form part of the AET Group.

These portfolio changes will allow AET to focus its resources and attention on those schools where the organisation can most add value, and to expand in areas of strength.  The organisation is already exploring opportunities to bring in some new primary academies, and to strengthen further its academic provision.

Jack Boyer OBE, Chair of AET, said ‘AET is totally committed to improving the educational outcomes for pupils, and we will continue to work closely with the National Schools Commissioner and his team to achieve this.  The new Trustees and senior directors we are bringing into the organisation will also help drive this educational performance of our schools.   Lifting the FNTI is another step in the building of a stronger, growth-oriented AET.’