MAT Financial Due Diligence. What will they ask?

[SimonsPies]

MAT coming to our primary school to do financial due Diligence. What will they want to ask/see? Want to be prepared.

Budget for last year - draft v actual, budget for next year, 3 year budget plan, possibly 5 year budget plan, staff list and contract type (with costs), list of bought in services, out-turn statements, a list of any other income streams and costs.

Thanks for that.

They will want to see that you have good control of your budget and what it looks like going forward. More than anything else they want to make sure that they are not taking on a lame duck in terms of finance. Some MATs that did not do the due diligence correctly have taken on schools with large deficits (I know of one which was over £350K) and only realised after they have taken over the school.

Sponsored or converter?

Don't know sorry. Above my pay grade obvs.

If you are a converter academy it will be something you are entering into willingly. If you are being sponsored you either have no choice or are in RI. I think you may be a converter as you'do know if you were being sponsored!

Definitely converter. Excellent school.