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Current position Jan 2012

Current position ? Jan 2012 cont. Banking facilities being sourced ? we have invited Lloyds TSB / Natwest (2 banks we currently use) and Barclays.Pension contributions (support staff) ? briefing. This document advises the school on what the current deficit sum is to pay and what the current and fu

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Current position Jan 2012

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    1. In pursuit of excellence - together we can make it happen

    2. Current position – Jan 2012 Department of Education (DfE) - Academy application submitted to DfE. The secretary of state has now issued an Academy Order with regard to our application of becoming an Academy. A DfE lead will now confirm a series of tasks we need to undertake with dates. Project Board meeting - reviewed the project time line at the first Academy project meeting on Wednesday 11th January Legal services procurement – we are currently in the process of selecting a legal firm to undertake this work of the conversion. Through the selective process we requested five quotes from legal firms and have chosen two firms to submit further information and references - we are confident the successful firm will be in place by 27 / 01 / 2012 .

    3. Current position – Jan 2012 cont Banking facilities being sourced – we have invited Lloyds TSB / Natwest (2 banks we currently use) and Barclays. Pension contributions (support staff) – briefing. This document advises the school on what the current deficit sum is to pay and what the current and future contributions would be – on conversion the payments are similar to what is are already being paid.

    4. legal firm selected and working on the following areas: 1. The Timetable – putting together a timetable and checklist to ensure all tasks/approvals are met. 2. TUPE advice – start the transfer process of staff terms and conditions of employment with consultation. 3. Academy Trust incorporation – this means the setting up of the charitable company limited by guarantee which will act as the Academy Trust. 4. Funding Agreement – this sets out the funding requirements and obligations for the running of the academy. By Feb 2012- next steps

    5. By Feb 2012- next steps legal firm selected and working on the following areas – cont 5. Land Arrangements – negotiating the lease (125 year lease) with the LA and issuing a report for the DfE as part of the approval process for the lease. 6. Transfer agreement – required to transfer assets and liabilities from the L.A to the Academy Trust for e.g staff and pensions liabilities, third party contracts, records (staff and pupils).

    6. By Feb 2012- next steps Banking facilities – bank supplier approved. Asset & Property – dependent on current property survey report from LA – commission independent survey with guidance from the sustainability governor.

    7. By Feb 2012- next steps Contracts reviewed and communications to existing suppliers and selective process for new. Finance – register with HRMC for tax purposes. Work with legal on draft funding agreement. Systems & procedures review on ICT / Finance. Throughout the process will be stake holder Communications and Engagement.

    8. Next Academy Project Board meeting – 23 February 2012.

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