Ministers have published their simplified academies handbook for September this morning. Academies minister Baroness Barran said the handbook is 鈥渃learer and more concise鈥 to 鈥減rovide more clarity on the requirements of academy trusts鈥. It鈥檚 gone from 78 pages to 62 pages. Here鈥檚 what you need to know鈥. 1. Board should have ‘sufficient’ financial knowledge The previous said the governing board should identify the skills and experience it needs including financial knowledge. It now reads that they should have 鈥渟ufficient鈥 financial knowledge. The board should also address this for other committees they have. Ministers have made it clear that the roles of the accounting officer and chief financial officers 鈥渟hould not be occupied by the same individual鈥. DfE also 鈥渆mphasis the importance and value鈥 of good estates safety and management. 2. Six board meetings mandate scrapped Previously, if a board met less than six times a year it had to describe in its governance statement and accounts how it 鈥渕aintained effective oversight of funds with fewer meetings鈥. But the handbook now confirms boards no longer need to provide this explanation. The guidance also confirms that trusts now have an extra month – the end of August instead of July – to submit their budget forecast return to the Education and Skills Funding Agency. DfE has also simplified the position on the preparation and circulation of management accounts – which must be shared with the chair of trustees every month – to 鈥渋nclude more discretion鈥 for trusts. Details on the format of these monthly accounts have been removed. 3. New electric vehicle scheme rules DfE has added in detail on electric vehicle salary sacrifice schemes. They do not need ESFA approval where 鈥渘o liability falls on the trust if an employee does not fulfill their contractual obligations with the scheme provider鈥. But for 鈥渙ther types鈥 of EV salary sacrifice schemes – or where the trust is under a notice to improve – prior ESFA approval must be obtained. 4. GAG pooling ‘important to consider’ DfE鈥檚 position on general annual grant (GAG) pooling has also been simplified to 鈥渟trengthen the value and importance of this practice for trusts to consider鈥. The handbook now says the ability to amalgamate and direct funds 鈥渢o meet improvement priorities and need across the trust鈥檚 schools can be integral to a trust鈥檚 successful financial operating model鈥. The practice 鈥渃an enhance a trust鈥檚 ability to allocate resources in line with improvement priorities and running costs across the trust鈥檚 constituent academies鈥. 5. Threshold raised for related transaction approval The threshold for obtaining the ESFA鈥檚 permission for related party transaction contracts has risen from 拢20,000 to 拢40,000. But this approval does not apply now for contracts for supply of goods or services by state-funded schools, colleges, universities, schools which are sponsors of the academy trust. The exception does not apply to transactions with a subsidiary of the related party. The requirement also doesn鈥檛 apply for the provision of services to an academy trust with a religious designation, 鈥渇or essential functions fundamental to the academy trust鈥檚 religious character and ethos which can only be provided by their religious authority鈥. 6. Clarity on notices to improve Ministers have also clarified when a trust may receive a notice to improve, including insolvency risks, cash flow problems or trustees lacking skills. DfE 鈥渨ill engage with the sector in developing its approach to intervention, including the process to be followed by the department鈥檚 regions group and the evidence that they will rely on to determine the strength of trustees鈥 oversight of educational performance鈥.