Academies Update February 2022

Now that the Academy Accounts Returns and audited annual accounts audits have been submitted for another year we thought now would be a good time for our first Academy Newsletter of 2022, covering key updates over recent months in the academy sector.

Budget Forecasts

The ESFA confirmed in January that they will no longer require academy trusts to submit a separate budget forecast return outturn each year. The outturn information will now be permanently included in the main budget forecast return. Click the picture for full details regarding the budget submissions.

Due diligence

With Multi Academy Trusts continuing to grow, it is important that Trusts are carrying out good due diligence on prospective schools joining the Trust, as well as those schools themselves carrying out due diligence on the Trust they will be joining. Factors to consider can be found on our website article here.

Covid testing grants

Claims for exceptional premises costs incurred during the mass Covid-19 testing of pupils on their return in January 2022 can now be made. The deadline for these claims is the 20th of February. Click the picture for further details on how to claim.

School Resource Management

The school resource management self-assessment checklist is now open for Academy Trusts to complete and return by 15 March 2022. All academy trusts with an open academy on 31 December 2021 must submit a checklist. Click the picture for full details.

Other income information

The ESFA will be issuing 2022/23 general annual grant allocation statements over the end of February and March. They have also confirmed the price of the Risk Protection Arrangement (RPA) to be £21 per pupil for 2022/23 (up from £19 per pupil in 2021/22). This also now includes cyber security cover up to £250,000.

Get in touch

If you have any questions relating to the content above, please contact your relationship manager.