Regulation 16 Annual report
The foundation body must publish an annual report of its activities for the information of the governing bodies of the schools in the group setting out—
the names of each member, drawing attention to any changes since the last annual report and identifying the chairman;
a summary of the decisions and actions of the foundation body since the last annual report was published unless minutes of the foundation body’s meetings are published separately;
a statement of any income and expenditure showing the balance as at the end of each financial year falling within the period of the report; and
a statement of any significant disposals, purchases or gifts and of any outstanding liabilities at the end of each financial year falling within the period of the report.
The first report must be issued within two years of the formation date and may deal with a period longer than a year.
Following the first report, annual reports must be issued no later than the next meeting after the end of the year being reported on.