Fund to favour schools that crackdown on executive pay
Academies and sixth-form colleges across England can now bid for a share of more than £400m to transform facilities, improve school buildings and create more school places.
The fund can be used to expand classrooms, upgrade facilities such as sports halls or science labs, and address issues with the general wear and tear of school buildings.
This year applications will be subject to new criteria which will favour bids from schools with good governance and organised finances – especially those who “show restraint” on executive salaries.
The cash comes as part of the education department’s latest round of the Condition Improvement Fund (CIF).
The strengthened criteria for the CIF will incentivise academies and trusts to improve finances and governance.
Bids are assessed on a point-based criteria and applicants will get a four-point deduction if they pay two or more salaries in excess of £100,000 or one salary over £150,000 and have failed to take appropriate action in response to the government’s high pay challenge.