Accounting for Catholic Voluntary Aided Schools and Academy Assets

CIPFA – LAAP 101

Following a number of recent enquiries, and after consultation with the Trust’s financial advisors and auditors, the Education Service is authorised to the following statement:

The land and buildings (the Land) used by Catholic Schools and Academies (the Schools) are owned by either Trustees of the Diocese of Westminster or the Trustees of an affiliated Religious Order Trust that delivers Catholic Education under the authority of the Diocesan Bishop (the Trustees).

Governing bodies (the Governors) are authorised by the Trustees to use the site for a specific purpose. They are regarded as the temporary custodians of an asset that is owned by the Trustees. The commitment to educational continuity comes from the whole Catholic Communityand is based on a historical and continuing relationship with the state.

The Trustees are at liberty to reclaim the Land for their own purposes.The Governors do not have a guaranteed right of occupation. Statutory procedures relating to the establishment and closure of schools apply and are adhered to by the Trustees. However, the Trustees reserve the right to make alternative use of the Land and, in response to changed circumstances, will service the appropriate notices.

The Trustees nave not assigned any rights to third-parties.

The Governors have not and do not make any payments to the Trustees in order to secure continued use of the Land.

This statement relates specifically to the Land and includes any plant and machinery that is integral to the effective management and maintenance of the Land. The Governors are accountable to the Trustees for maintaining the asset in good order.Capital Assets that are not part of the Land remain in the ownership of the Governors. Details of any Capital Assets, with a value greater that £50,000.00, is available directly from the Governors.

Nigel Spears

Assistant Director of Education

February 2015

For further information, please email the Education Service using the email address below.