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updated on 5 January 2022
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Understand what key performance indicators (KPIs) are and how to use them effectively alongside your school improvement plan (SIP) or strategic plan. Read specific advice about financial KPIs, which academy trusts are required to set.

Thanks to our associate education experts Graeme Hornsby and David New for their help in writing this article. 

Academy trusts must set financial KPIs

If you’re an academy, your trust is required to:

  • Select key financial performance indicators
  • Measure its performance against them regularly
  • Include analysis in the annual trustees’ report

This is explained in the Academies Trust Handbook (in paragraph 2.22).

You can choose which financial KPIs to include. Some ideas are:

  • Spending on particular areas as a percentage of total expenditure (e.g. on teaching staff, supply staff, premises, teaching resources and/or energy)
  • In-year balance as a percentage of total income
  • Revenue reserves as a percentage of total income
  • Average teacher cost

Remember that everything your trust/school

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