Review of Value for Money
As accounting officer, the CEO & Executive Headmaster has responsibility for ensuring that the school delivers good value in the use of public resources.
Value for money refers to the educational and wider societal outcomes achieved in return for the taxpayer resources received. We consider how the school’s use of its resources has provided good value for money during each academic year, and report to the Board of Trustees where value for money can be improved, including the use of benchmarking data where appropriate.
The school has delivered improved value for money during the year by:
- Maintaining a tight budgetary control system;
- Making the most of the benefits of economies of scale as the school grows in capacity.
- Undertaking competitive tender processes using DfE Buying for Schools service for utility contracts and IT equipment procurement.
CEO and Executive Headmaster
Executive Pay 2020-21
The Fulham Boys School has a robust process in place for reviewing and setting executive pay. This is overseen by the Pay Review Committee to whom the Trust Board delegate responsibility for review of the Pay Policy and executive pay. Members of the Pay Review Committee are Alexander Wade, Chairman of the Governing Body, Meriel Stinson; Vice Chair of the Governing Body, Claire McAloon; Chair of the Finance & Resources Committee and Liam Walker; Chair of the Personnel Committee.
The full details of executive pay can be found in the Trust’s annual report and accounts, as published on the Trust website and Companies House. This document provides a summary of the number of employees whose benefits exceeded £100,000, in line with the latest requirements in the Education & Skills Funding Agency’s (ESFA) Academies Financial Handbook 2020.
During the 2020/21 academic year, pay for one staff member exceeded £100,000, and sat within the £130,001-£140,000 salary band. This staff member is entitled to be a member of the Teachers' Pension scheme and no special conditions or entitlements apply compared to other staff.