SCHOOLS which have become academies were warned to read the small print during procurement processes at an education conference in the North-East.

Accountant firm Clive Owen & Co, which has worked with many schools in the region and helped them through the process of conversion to academy status, held the event at Teesside University’s Darlington Campus in conjunction with solicitors, BHP Law.

Academies were given advice on procurement, including cashflow management issues and supplier contracts, during the event and heard about the dangers of not reading the small print in contracts.

Chris Beaumont, a partner with Clive Owen and the firm’s education specialist, said: “We’ve heard about situations before where schools have had to pay more than £20,000 to come out of photocopier contracts because they hadn’t been aware of the small print, so it was essential that we held this event.

“We’ve also seen how academies have been in a much stronger cash flow position after implementing more structured cash management procedures.”

Figures released recently by the Department for Education revealed that there are now ten times as many academies – state-funded schools which are accountable to central government rather than local authorities – compared with May 2010.

But with the Government’s new Academies Account Direction, many schools may not be aware of issues around regularity, propriety and compliance.

David Lucas, partner with BHP Law and head of their education team, said: “Procurement is a key issue for academies. “Effective purchasing and management of supply contracts can free up significant money which can then go directly to benefit pupils. We were pleased to pass on some key tips and practical pointers to assist academies in protecting their budgets through effective purchase contracts.”