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Funding agreement

The legal contract between an academy trust and the Secretary of State for Education setting out the conditions under which the academy is funded.

Used in
England
Topic
Governance

Being checked against official sources. This definition is written in our own words; always check the official guidance for your country.

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Academy England
A state-funded school in England that is independent of the local authority and funded directly by central government through a funding agreement. Academies have more freedom over curriculum, staff pay and term dates than maintained schools.
Academy trust England
The charitable company that runs one or more academies and holds the funding agreement with the Secretary of State.

More terms: Governance

Academy Trust Handbook · Chair of governors · Clerk to governors · Governing body · Governor · Local governing body

More terms starting with F · Education glossary A–Z · Get a TIP for your class

Definitions are written by Classfern in our own words for teachers in the UK and the US. They are short explanations, not legal or official definitions: always check the official guidance for your country, nation or state. Classfern is not affiliated with or endorsed by any government department, inspectorate or exam board named here.