The Education Funding Agency introduced Financial Notices to Improve (FNtIs) in 2012. As of 3 November 2016, the following number of FNtIs have been issued:
Number of FNtIs issued
Subsequent to an FNtI being issued, 25 schools in 7 trusts have been rebrokered to other academy trusts. However, the re-brokerage of a school can happen for a range of educational, financial and governance reasons and therefore cannot be attributed solely to an FNtI having being issued.
The EFA has a clear and robust strategy for intervention that ensures appropriate and proportionate action is taken swiftly in cases of concern. Formal intervention, including the issuing of FNtIs, is undertaken when it is clear that there has been a breach of the terms under which trusts operate, whether that be the Funding Agreement or the Academies Financial Handbook. When a ‘problem’ is established following the review and assessment of evidence - in a whistleblowing case, for example, we establish first whether there was any substance to an allegation before moving to intervention. Because of this, it is not possible to generate a single average as requested in the final part of the question.