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Education

Academies Budget Forecast Return 2021

The ESF have announced that there will only be a single Academies Budget Forecast Return this year, combining the requirements of the BFR (usually required at the end of May) and BFR(3Y) (usually required at the end of July).

Academies Accounts Return 2019/20

Following the external audit and approval of the financial statements, the next important deadline on the academy’s ‘to do lists’ are the academies accounts returns (AR).

The Academies Accounts Return 2019/20 is live

The Academies Accounts Return 2019/20 (AAR) is now live for Academies to upload and submit their 2019/20 financial results.

Academies: Accounts Direction 2019/20

The ESFA have released their annual guidance on accounts preparation for academies and Multi-Academy Trusts in the Accounts Direction 2019 to 2020.   There have been some minor changes and clarifications in this year’s publication which apply to Academy accounts for accounting periods ending 31 August 2020.  

Academies: 2020 Budget Forecast Return 3 Year

In response to the Covid-19 outbreak, the budget forecast return three year (BFR3Y) is the only required budget forecast to be submitted for Academies and Academy Trusts this year.

The ESFA have published the Academy Accounts Direction for 19/20

The Academies Accounts Direction (AAD) 19/20 has been published by the ESFA, you can view the direction here. Also issued is the carbon reporting. This applies to large academy trusts. Please click here to access the guidance.

The ESFA have published the Academy Accounts Direction for 19/20

The Academies Accounts Direction (AAD) 19/20 has been published by the ESFA, you can view the direction here. Also issued is the carbon reporting. This applies to large academy trusts. Please click here to access the guidance.

Academies update – Three-year budget review 2019 open for completion

Academies must submit their three-year budget forecast return (BFR3Y) to the Education and Skills Funding Agency (ESFA) by 30 July 2019.  

Academies: Latest changes to the Accounts Direction

The ESFA have released the Accounts Direction for the Accounting Period ended 31 August 2019.  Find out what the main changes are and how these affect your statutory accounts. 

Academies Update: Guidance on preparing the BFRO

The workbook released by gov.uk includes a guidance tab to assist in the preparation of the return.

Academies Update: Changes to the BFRO

Its BFRO season.  We take a look at what’s changed.  

New ESFA guidance for academies on declaring related party transactions

The ESFA has released guidance on declaring related party transactions in advance of new reporting requirements coming into force on 1 April 2019.

Academy update – Related Party Transactions

From 1 April 2019, Academy trusts are required to declare all related party transactions in advance.

Pensions Costs

The recently announced proposed increase in Teachers’ Pensions Scheme (TPS) employer contributions from 1 September 2019, has shocked the academy sector. Treasury indications predict a rise to 23.6% - an increase of over 40%. Most schools were expecting a 2% to 3%.  

Pensions Costs

The recently announced proposed increase in Teachers’ Pensions Scheme (TPS) employer contributions from 1 September 2019, has shocked the academy sector. Treasury indications predict a rise to 23.6% - an increase of over 40%. Most schools were expecting a 2% to 3%.  

New Academies Financial Handbook 2018

The new handbook came into effect on 1 September 2018.  Although similar to the 2017 handbook, certain key items have been headlined at the front of the 2018 handbook as the “top ten musts” for chairs and trustees. These “musts” focus on three core functions of governance:  

New Academies Financial Handbook 2018

The new handbook came into effect on 1 September 2018.  Although similar to the 2017 handbook, certain key items have been headlined at the front of the 2018 handbook as the “top ten musts” for chairs and trustees. These “musts” focus on three core functions of governance:  

New Academies Financial Handbook 2018

The new handbook came into effect on 1 September 2018.  Although similar to the 2017 handbook, certain key items have been headlined at the front of the 2018 handbook as the “top ten musts” for chairs and trustees. These “musts” focus on three core functions of governance: