From the Governance structure chart you can see how SMART Multi Academy Trust has been set up as a Company and how it will be operated, this is commonly called governance.
SMART Multi Academy Trust is an exempt charity and company limited by guarantee registered in England with company number 10257723. The company's registered office is Wyndham Primary School, Montagu Avenue, Newcastle upon Tyne NE3 4SB.
This means that we are registered as a Company with Companies House and are governed by Articles of Association, (approved by the Department for Education). The Articles of Association define how the Company must be run and the Objects (the purpose and activities) of the Company. Broadly SMART Multi Academy Trust's Company Objects are:
" To advance for the public benefit education in the United Kingdom" -Articles of Association
As an exempt charity we are also governed by the Charities Act 2011, which came into effect on 14 March 2012. We must also comply with the government legislation for Academies under the Education Act 2002 and 2011. In addition we must also meet the requirements of the Companies Act 2006.
Our Master Funding Agreement with the Department for Education sets out the terms under which we are funded and must deliver education to the children and young people within our communities. As such we have a statutory duty under the Education Act 2002 and 2011, (related to Independent schools and Academy Trusts) to meet legal obligations for the provision of education, training and childcare.
The Financial Academies Handbook sets out the financial management, control and reporting requirements that apply to Academy Trusts. It describes a financial framework for trusts and guidance on how to meet the requirements of the Education Funding Agency (an executive agency sponsored by the Department for Education to manage education finance). Compliance with the Academies Financial Handbook is a condition within our Master Funding Agreement (insert link) with the Department for Education.
A Multi Academy Trust is established to take responsibility for more than one school. All Academy Trusts must have at least two layers of governance, SMART Multi Academy Trust has two layers of governance. The first layer of governance is our Members and the second our Trustees.