WILLIAM Parker School in Daventry will have debts of more than £500,000 wiped clean when it becomes an academy in September.
The Daventry Express has learned this week that a financial deficit of £550,000 was accumulated over a two-year period at the school from 2009 to 2011, which forced Northamptonshire County Council (NCC) to step in urgently and ‘strengthen the management framework’.
The debt now lies at £553,000, and legislation states that when the school becomes an academy this will be passed on to NCC and potentially the county’s taxpayers. The county council says it already needs to cut £100 million from its budget by 2016.
For details on how the debt was built up, and what steps are being taken to re-balance the school’s books, see this week’s Daventry Express.