The agency will have full of shared responsibility for secondary school provision in 44 local authorities in England and powers over planning and closures.
The Mail carries the remark by Sir Christopher Benson, FAS chair, that the agency has 'an absolute duty' to make sure government money is spent wisely.
In the Financial Times, Labour call the new quango 'the last desperate attempt to prop up a failing policy', that is the opting out of schools from local authority control.
The headmaster enthuses over the local management of schools initiative which gives schools control of their own budgets. Mr Vince Clarke says they have managed to survive through a firm financial formula.