DfE writes off £10m losses on free schools and academies

[LeftishBrit]

The Department for Education (DfE) has written off nearly £10 million as losses soar under the expansion of its free school and academies programme.

The losses were revealed in the department’s annual accounts that were finally published on Wednesday, four months later than usual.

The figure is nearly five times as much as the £2 million loss recorded in the previous year and formed part of a damning report from the government’s audit watchdog that found the overall accounts lack “truth and fairness”...


The department’s overall accounts were again met with a rare “adverse opinion” from the National Audit Office (NAO). It reported that the financial statements lacked “truth and fairness” and Sir Amyas Morse, the comptroller and auditor general, branded the level of error and uncertainty in them as “material and pervasive”....

http://schoolsweek.co.uk/10m-write-off-on-free-school-and-academies-programme/

[haikugal]

1. Are Acadame School what we call Charter Schools?

Where did all the money go?

[LeftishBrit]

2. Yes, pretty much the same thing

The money was lost through mismanagement, poor accounting, and unrealistic planning: some of it described in the article. E.g. several schools were planned in particular areas, and then could not get planning permission after money had already been poured in.

[haikugal]

3. Some was lost to theft no doubt...what a shame. Public school is best what is so hard for people

To understand? Propagandized out of it like here?

What a shame.

[Bad Dog]

4. It just goes to show there's lots of money sloshing about if the ideology is right.

At least Toby Young's kids are getting a bespoke education.