In order to allow Yesoiday HaTorah Multi Academy Trust (the “Trust”) to function effectively, the Board of Trustees of the Trust (the “Board”) delegate financial authority to the Chief Executive Officer (CEO/EXECUTIVE PRINCIPAL), Chief Finance Officer (CFO), Finance Committee and the Head of School at each academy. The extent and level of any such delegation is determined by the Board and is set out in this Scheme of Delegation of Financial Authority (the “Scheme”).
This Scheme distinguishes between matters reserved exclusively for the Board’s approval or decision, and matters delegated to other individuals. The Scheme sets out financial limits and signatories applicable to various matters and ensures that there are sufficient operational controls in place for all the financial processes within the Trust.
For the avoidance of doubt any financial powers not mentioned in this document are reserved matters for the Trust Board.
This Scheme was approved at the meeting of the Board on [Autumn term 2019].