Posted on March 30, 2017 by Stephen Dolman in Finance.
The latest ‘Dear Accounting Officer’ letter from the EFA sets out their plans to replace the Academy Budget Forecast Return, due in July, with two returns.
Download the letter! →
In previous years Academy Budget Forecasts have included details of actual spend in the current year to March, a forecast to August, as well as the budget for the following year. As part of discussions between the EFA and HM Treasury it has been concluded that details for the current year need to be submitted earlier than has been the case. As a result academies will need to submit two returns.
The first return, the Budget Forecast Return: Outturn (BFRO) will focus on actual expenditure for the period up to March 2017, as well as collecting an updated assessment of forecast expenditure to the end of August 2017. All academy trusts open as at 31 March 2017 must submit a completed BFRO to EFA by Friday 19 May 2017 in order to meet HM Treasury’s timeline.
The second return, the Budget Forecast Return (BFR), will support the main public expenditure forecasting activities that occur in the autumn. Its focus will be on the projected financial position of academy trusts up to August 2018. This return will need to be submitted by Friday 28 July 2017 (the same timeframe as in previous years).
UPDATE: Template BFRO workbooks and guides for the documentation and online submission form have now been published by EFA
Read guidance or download templates →
Download our new academic planner! →
Posted on August 31, 2016 by Stephen Dolman in Finance.
School Business Services has produced a calendar showing key events and deadlines for academies in the coming year. Download our planner! → Academic Year Planner September October Accounts to 31 August year-end closed. Prepare schedules for audit. First payment of General Annual Grant for year, most items paid in 12 equal installments. Land & Building […]
Posted on June 6, 2016 by Stephen Dolman in Finance.
At the start of the final half term of this school year we look at the EFA’s calendar and at some of the announcements in the last few weeks. EFA Calendar For The Final Half Term We start this blog with our regular look at the EFA’s plans – see the EFA Exchange for more […]
Posted on April 12, 2016 by Stephen Dolman in Finance.
For those considering expanding their Academy Trusts or opening a new UTC the DfE have recently issued guidance. Primary Schools are reminded to publish details on how they spend their Sports Grant. And for all we start with a look at the EFA planner for the Summer term. From The EFA Planner April Fourth payment […]
Posted on January 27, 2016 by Stephen Dolman in Finance.
The warmest winter on record so far in some parts of the country. And in schools and academies everywhere the pace is hotting up – accounting returns to be made and budgets for 2016/17 to be prepared. But first, our regular look at what the EFA have in store for us. EFA Calendar and News […]
Posted on June 12, 2015 by Stephen Dolman in Finance.
After what was undoubtedly a chilly May, let’s hope for a fine June. There are all those sports days, picnics, and summer fetes that need to take place on time or chaos will ensue. Now that we know who is in power for the next 5 years, it’s also time for academies to put the […]
Posted on May 4, 2015 by Stephen Dolman in Finance.
This blog is being published on ‘Star Wars Day’. In a few days’ time our opinion will be sought on which empire returns to No. 10 and whether the new government will be a clone of the last. But whatever the result – great pressures on school budgets me thinks! From The EFA Planner In […]
Posted on March 24, 2015 by Stephen Dolman in Finance.
This is the 30th blog we have published – the first being on 21 March 2014. So happy birthday blog. We hope that you have found the contents over the year useful – and of course we welcome any feedback you might have. We open this week’s blog with our monthly look at the EFA […]
Posted on February 27, 2015 by Stephen Dolman in Finance.
We end February with items from the EFA Planner and a couple of announcements made by the EFA shortly before the half term break – just in case you missed them. The EFA are also expected to announce funding for 2015-16 to individual academies over the next few weeks through the EFA Information Exchange. […]
Posted on January 19, 2015 by Stephen Dolman in Finance.
Whilst there are some important deadlines for schools, recent events require schools to consider their place within the wider community. Proposals and arguments will rage in this pre-election period, whilst terrorism in Europe brings the duties that schools may have under the latest Security Bill into focus. Your views are being sought this week – […]