A HEADTEACHER has lifted the lid on why academy status is so alluring for many schools.

Nardeep Sharma, principal at Colne Community School, in Brightlingsea, said money was the driving factor behind its decision to become an academy.

He said the extra £300,000 funding the school received was too good to turn down.

He believes many schools have taken the same decision, as they seek to balance their books and maintain buildings after the Government’s decision to pull the plug on the Building Schools for the Future programme.

His school and sixth form is one of four in Colchester and Tendring to convert to academy status this year.

The others are Colchester County High School, Thurstable School and Tendring Technology College.

Two months into the first term as an academy, Mr Sharma said little had changed.

The school has not altered the curriculum, pay and conditions for staff, or changed term or lesson times – all powers available to new academy schools.

Mr Sharma said: “We think we are pretty successful in what we are doing anyway, so why change something if it’s not broken?

“We had our best ever results this year and compete very well against Colchester and north-east Essex schools.

“The attraction was, regrettably, financial.

“Despite what the Government says, there have been cuts in most areas, including school funding, and the devolved capital allowance has gone down.

“Becoming an academy has given us more money to keep our heads above water.

“With these cuts, and the possibility of increases in National Insurance contributions, we need to be at least stable. Therefore, it was very much a financial decision and when I spoke to other headteachers, it was the same.

“We don’t wish to exercise any of the other elements. The times of day and working conditions will remain the same, but the financial incentive was one we couldn’t afford to ignore.”

Previously, the school received its funding from Essex County Council, which took a slice of the pot for providing services, such as pyschology and behavioural support.

Now it is funded directly by the Government, giving it control of what services to buy.

Mr Sharma said hopes for a new building by 2020 were dashed when the Building Schools for the Future programme collapsed.

He said: “I would love for the young people to have a new school. Some of the buildings are very tired and we were all looking for new buildings in 2020.

“It’s a shame that’s not going to happen for our school and many, many other schools around the country.”

As an academy, the school is a registered company and produces a set of company accounts.

Critics claim the new system is privatisation by the back door, and reduces accountability.

Mr Sharma disagrees. He said: “We had a rigorous consultation process, which involved consulting the teaching staff, unions and parents.

“I also took assemblies with all the pupils and explained to them what academy status meant.

“Most people were just inquisitive, rather than resistant to change. We are still in Ofsted’s remit, so they will report on us like any other state school.

“We still have the same governing body and our performance will still be tabled.

“We will still keep pushing students as far as we can, and we will still have the same relationship with parents. Nothing has changed, except our accounting systems are registered with Companies House and we have a company secretary.

“I’m not saying every school should convert, but they should think hard about these financial incentives, especially in a climate where budgets are very, very tight.

“When you’re balancing the books, and you haven’t got the surpluses lying around, you have to look for new money to fill those gaps in the budget.”