Esfa Settlement Agreements

Trustees of academy trusts must comply with the latest Academy Financial Manual (AFH). As stated in section 1.3.4 of the AFH, the directors of an academy trust must ensure regularity and decency and obtain fair value for money when using trust funds. It is sometimes forgotten that this obligation falls on the directors themselves, including the rules on severance pay. It is important to ensure that any decision to submit severance pay is made in accordance with the AFH and fiduciary governance procedures. If the decision is not taken by the entire management board, the management board should have a specific delegated power to allow the person or committee concerned to decide on the offer and agree on the final settlement terms. If you have the right information at your fingertips, if you open negotiations on record comparisons with employees and their union representatives, you can save a lot of time, money and conflict later in the process. Mrs. Best would be entitled to 3 months` notice of the foundation of the Academy….