Academies receive the same level of per-pupil funding as they would receive from the local authority as a maintained school, plus additions to cover the services that are no longer provided for them by the local authority. However, academies have greater freedom over how they use their budgets to best benefit their students. Academies receive their funding directly from the Education Funding Agency (EFA) rather than from local authorities.
The principles of governance are the same in academies as in maintained schools, but the governing body has greater autonomy. Academies are required to have at least two parent governors*.
Academies are required to follow the law and guidance on admissions, special educational needs and exclusions as if they were maintained schools.
Academies have to ensure that the school will be at the heart of its community, collaborating and sharing facilities and expertise with other schools and the wider community.
The Department for Education expect that all Academies that are performing well work with another school to raise standards. Collaboration and partnership are now embedded in the school system, and this is also the case for academies.