Page 10 - Galileo Strategy Plan

TRUST STRATEGIC PLAN PRIORITIES TO 2027
To ensure we achieve
our ambitious vision over
the next 3 years we have
identified the following
5 key strategic priorities:
To be considered as a Trust of
1. choice for schools looking to
convert to academy status, or
small Trust’s looking to join a
larger more established Trust.
To maximise the potential,
2. talent, and expertise of our
workforce to support the
professional development of
our staff and further embed our
values as single organisation.
To better support the social,
3. emotional, and mental health of
our pupils to drive improvements
in behaviour and attendance.
To continue to collaborate with
4. external agencies to lead and
promote strategies to improve
the wellbeing of community
in which we serve.
To ensure pupils continue to
5. achieve high standards, realise
their ambitions, and are fully
prepared for their next steps.
Staff are
supported well by leaders
at all levels, including trust leaders.
Leaders listen to staff about what
would help them do their job better
and enjoy opportunities to talk to
other staff across the trust about
their teaching.
– OFSTED Inspector
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GALILEO MULTI ACADEMY TRUST | STRATEGIC PLAN 2024–2027
FINANCIAL PLAN
2024-27
As a Multi Academy Trust, As the Trust moves forward and, to
setting a balanced budget build on successful progress made
to date we are adopting a number
which allocates resources of guiding principles to underpin
towards our priorities our financial strategy. These are:
is one of the most • Spending will be allocated to
difficult but important
support delivery of the Trust’s
responsibilities we have. strategic priorities.
Each year, we weigh up pressures • Further develop financial resilience
including increased demand for and budgetary reserve, building on
services, reduced government our current approach, and resourcing
all parts of the Trust according to
funding, and competing commitments,
priorities, and ambitions. strategic priorities rather than
legacy practices.
Since converting to academy status
in April 2018, the Trust’s primary • Prioritise ‘funding-fairness’ to support
financial objective was for each schools that need the greatest help to
enable every child to learn and thrive,
Trust reserves school and in-house service to old
have increased by one month’s payroll costs in reserves and to support the development of
by the end of financial year 2023. focused expertise in the central
£1.24million The Trust Board believe this amount team that benefits all schools.
is adequate to ensure the financial
stability of the Trust. • Continue to implement its 5-year
since conversion estates management plan to
in 2018 The below table shows the significant improve the teaching and learning
rate of progress towards achieving this environment and to maintain the
objective. At the end of F/Y 2023, we Trust’s physical infrastructure.
held over £2m in reserves which as
a Trust exceeds the overall target.
Trust reserves have increased by £1.24m
since conversion in 2018 through tight
financial controls, central challenge,
joint procurement, economies of scale,
and through Trust led additional
income generation.
Income & Expenduture (£m) 2019 2023 2025 2027
Income 16.0 18.6 19.4 20.6
Staff costs 12.1 13.5 14.1 14.7
Non-staff costs 4.0 4.8 5.3 5.6
Operating surplus/ (Deficit) -0.1 0.3 0.1 0.3
Reserves 0.7 2.0 2.1 2.4
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