Harris Federation’s Sir Dan Moynihan becomes first £500,000 academy boss

Pay rise, pension contributions and national insurance take Harris Federation CEO’s package to at least £550,000

The chief executive of the Harris Federation has become the first academy leader in the country to break through the £500,000 pay barrier.

Sir Dan Moynihan’s salary increased from at least £420,000 in 2015-16 to at least £440,000 in 2016-17.

According to Harris’ financial accounts, published today, when employer pension and national insurance contributions of at least £110,000 are included, his total package for the year stands at £550,000 to £565,000.

Read on… https://www.tes.com/news/school-news/breaking-news/harris-federations-sir-dan-moynihan-becomes-first-ps500000-academy

Exclusive: Bonus and extra day-a-week means 33-47% pay boost for CEO of largest primary MAT

Chief executive of Reach2 Sir Steve Lancashire receives £240-250,000 in 2016-17 compared to £170-180,000 the previous year. MAT disputes suggestion that package has broken its own pay rule

The pay received by the chief executive of the largest primary academy chain in the country increased by at least 33 per cent compared to the previous year, new accounts show.

Sir Steve Lancashire, the CEO of Reach2 – which runs 55 primary schools across the country – received remuneration of £240-250,000 in 2016-17, according to the trust’s annual accounts for the year to 31 August 2017. The previous year he earned £170-180,000.

Read on… https://www.tes.com/news/school-news/breaking-news/exclusive-bonus-and-extra-day-a-week-means-33-47-pay-boost-ceo

Academy trusts demanding extra millions from DfE to take on struggling schools

DfE will need ‘flexible approach’ to reassure academy trusts about the risks of taking over failing schools, report says

Multi-academy trusts are requesting and receiving “significant additional grants” in order to take on struggling schools, an analysis of academy finances shows.

The annual Kreston Academies Benchmark Report, released this afternoon, identifies “a significant movement between trusts… as a result of academies falling below academic or financial targets”.

It says that in 2016-17, 350 multi-academy trusts (MATs) shared £30 million from the Department for Education’s Regional Academy Growth Fund (RAGF) to help build capacity and help schools that were converting to academy status, or being transferred from one trust to another.

Read on… https://www.tes.com/news/school-news/breaking-news/academy-trusts-demanding-extra-millions-dfe-take-struggling-schools

Education Services Grant cut: Academies will lose £353m by 2020, DfE forecasts

Academies stand to lose £353 million by 2020 as a result of cuts to the Education Services Grant, official government estimates reveal.

A technical note on schools’ costs published today sets out how the decision to scrap the grant will affect academies over the next three years.

This year, academies have lost £105 million as a result of the cut, but their losses will rise by a further £172 million next year and by £75 million in 2019-20.

The reason for the variation in losses each year is linked to changes in pupil numbers and availability of transitional funding.

Read on… https://schoolsweek.co.uk/education-services-grant-cut-academies-will-lose-353m-by-2020-dfe-forecasts/

LucyJ

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