Financial Management, AGM, Accounts & Annual Report

Annual Reports & Financial Statements (Company Accounts) 

Academy Trusts are independent charitable companies and are required to prepare an annual report and financial statements to the 31st August each year. The academy financial year mirrors the academic year (i.e. from 1st September to 31st August).

After the financial year end, these accounts are audited by independent registered auditors. They are also discussed and agreed annually at the academy's Annual General Meeting (AGM) which is open to the public and normally held in December each year. The date, time, location and agenda for the AGM is advertised in advance on this website.

Advantage Multi Academy Trust

Notice of: Annual General Meeting

Notice is hereby given that the Annual General Meeting of Advantage Multi Academy Trust will be held with the public and externals attending via zoom in accordance with Covid precautions in winter 2021/22

Date of meeting: Wednesday, 15 December 2021

Time of meeting:  4:30 p.m.

Venue: Zoom (To attend the meeting, you must register at least 48 hours in advance by providing your name, email address, phone number and connection with the academy on an email to clerk@admat.org)

Annual Accounts

Annual Report

Proposed resolutions (please notify Bernadette Moir, Company Secretary if you wish to propose a resolution by email clerk@admat.org or by letter to The Clerk (AGM MATTERS), Berkeley Academy, Cranford Lane, Heston TW5 9HQ by 12 noon on Wednesday, 1 December 2021

Important Note: Members are entitled to appoint a proxy

Agenda

1. Minutes of previous meeting

2. Reports and accounts

Annual Accounts & Annual Report 2020-2021

3. Auditors

To review, re-appoint or agree to procure external auditors (Currently Alliotts) / internal auditors (Currently Calders & Co)

4. Auditors’ remuneration

Confirmation of auditors’ fees.

5. Appointment of Charity trustees

Appointment, confirming appointments in the year and nominations (Details in the Annual Report).

6. Members proposed resolutions

Details will be given once proposed resolutions are received. Proposed resolutions should be sent to the Secretary by noon (14 days prior to the date of meeting). A revised agenda will be issued by (7 days prior to the meeting).

The annual report and accounts are submitted to the Education and Skills Funding Agency (ESFA), normally in the following December/January, and filed with Companies House.

From 2020 onwards, the annual reports and financial statements for the previous two financial years (September - August) will always be available on this web page. The webpage will be updated once the accounts have been agreed at the AGM and submitted to the ESFA and Companies House (normally in January therefore):

Annual Report and Financial Statements (Company Accounts) 

The most recent AGM was held on Thursday, 16 December 2020, via zoom (due to Covid-19 restrictions).  There were no resolutions. The Annual Report was endorsed and auditors presented on progress with the audit report and annual accounts.

The annual report and financial statements were submitted to the Education and Skills Funding Agency (ESFA) on 31 January 2021, and filed with Companies House.

The annual reports and financial statements for the previous two financial years (September - August) will always be available on this web page. The webpage will be updated once the accounts have been agreed at the AGM and submitted to the ESFA and Companies House (normally in January therefore):

Annual Reports and Financial Statements

2017-18

2018-19

2020-21 (draft to be added here)

The accounts submitted are endorsed by the Chair of the Academy Trust, the academy's Accounting Officer and the academy's independent, external auditors.

Register of Interests Declared by Trustees

Please click here to view a Summary of the Register of Interests declared by Trustees of the Academy.

Academies Financial Handbook (AFH) and Advantage Multi Academy Trust's Local Financial Procedures & Guidance (LFPG).

The Academies Financial Handbook (AFH) is updated and published annually by the Education and Skills Funding Agency (ESFA), normally late in the summer term each year. The AFH is designed to help Academy Trusts to understand and comply with public standards of financial accountability. The AFH sets out the financial management, control and reporting requirements which apply to Academy Trusts.

The annually updated AFH takes effect from 1st September each year and is posted on the website on or before that date. The updated version is reviewed and ratified by the Academy Trust along with Advantage Multi Academy Trust's Local Financial Procedures and Guidance (LFPG), normally in September / October.

Together, the AFH and the LFPG ensure that there is an adequate framework of monitoring, controls, procedures and policies:

  • To ensure excellent financial management and sensible investment,
  • To  deter and prevent fraud, 
  • To demonstrate probity,
  • To encourage good value for money, and
  • To achieve Advantage Multi Academy Trust's local vision, objects, aims, and ambitions.

Advantage Multi Academy Trust's local financial procedures and guidance (LFPG) determines the practical detail necessary to complement the strategic and broad content set out in the Academies Financial / Trust Handbook and to achieve the academy's local vision and objects.

Click here for the AFH 2020

Click here for the ATH 2021

The current AFH / ATH  should be read in conjunction with Advantage Multi Academy Trust's LFPG

The Academy Trust maintains other strategic documentation in the Trustee's Secure Area of this website such as the academy's:

  • Company Registration Certificates,
  • Funding Agreement,
  • Articles of Association,
  • Memorandum of Understanding,
  • Scheme of Delegation
  • Risk Register,
  • Critical Incident, Contingency and Recovery Plan
  • Audit reports,
  • Annual Skills Audit Summary (including Financial Competencies Survey) for the ATB,   
  • Annual DBS & Disqualification Declaration Summary
  • Governance Arrangements and Election Procedures
  • Trustee Conduct Protocol, etc.

Whistleblowing Policy

General Principles: Whistleblowing encourages and enables employees to raise any serious concerns within the academy rather than overlooking a problem or ‘blowing the whistle’ outside.

A full copy of the current policy is posted in the staff secure area of the academy's website, along with the full range of HR policies and procedures and other important employee information.
 

The purposes of the academy's Whistleblowing Policy are:

  • To encourage colleagues to raise serious concerns within the academy so that they can be addressed and remedied internally.
  • To provide colleagues with a clear and safe route for reporting genuine, serious concerns.
  • To gather information about concerns and, once evaluated and/or investigated, to determine whether further action needs to be taken.

Where it is decided that further action is necessary, this will be conducted under the appropriate HR policy.

It is the duty of all colleagues to raise any serious concerns about known, or probable wrongdoing through this policy. Colleagues who reasonably raise a genuine concern without malice will not be at risk of losing their job or suffering any form of retribution as a result.

If colleagues make malicious or deliberately disproportionate allegations or use the policy for harassment of other colleagues or for personal gain, action may be considered under the disciplinary policy.

Complaints relating to an individual’s personal circumstances should not be raised under the whistleblowing policy. Where colleagues are aggrieved about issues directly affecting them, they should use the academy's Grievance Procedure to pursue their concerns which can also be found, along with all HR policies, in the staff secure area of the academy's website. 

If an employee has a genuine concern about suspected serious wrongdoing at work, they should report it, and may do so under this Policy.  ‘Wrongdoing’ covers a wide range of matters including: criminal offences, failure to comply with legal obligations, miscarriages of justice, financial maladministration, endangering the health or safety of individuals and damage to the environment. It additionally covers the deliberate concealment of any of the foregoing.

The Academy Trust maintains other strategic documentation in the Trustee's Secure Area of this website such as the academy's:

  • Company Registration Certificates,
  • Funding Agreement,
  • Articles of Association,
  • Memorandum of Understanding,
  • Scheme of Delegation
  • Risk Register,
  • Critical Incident, Contingency and Recovery Plan
  • Audit reports,
  • Annual Skills Audit Summary (including Financial Competencies Survey) for the ATB,   
  • Annual DBS & Disqualification Declaration Summary
  • Governance Arrangements and Election Procedures
  • Trustee Conduct Protocol, etc.

Risk Register (Current)

  • The risk register is found here

Conflicts of Interest Policy 2019 2022

  • The Conflicts of Interest Policy may be found here

Charging & Remissions Policy 2019 2022

  • The Charging & Remissions Policy may be found here

Scheme of Delegation 2019 2022

  • The scheme of delegation may be found here

Audit, Compliance and Risk Committee Terms of Reference 2019 2022

  • The Audit Committee terms of reference may be found here

Finance Committee Terms of Reference 2019 2022

  • The Finance and Monitoring Committee terms of reference may be found here

 

This page is under re-construction - Completion envisaged by 1 January 2022 

THE FINANCIAL YEAR

In addition to routine financial management by the Finance team involving financial record keeping, seeking authorisations, purchase orders, credit control, invoicing, petty cash, reimbursements, banking and BACs/cheques processing, best value procurement, asset management, bursary payments, grant management, extra payments, confiscation management, waivers, disposals and write-offs, income management, prepayments, reconciliations, contracts and agreements, preparation of accounts and audit / RO deliverables, end of year procedures, finance webpage management, payroll, pensions, VAT returns (including the transition to 'Making Tax Digital' prior to 1 April 2021), ParentPay, Catering, etc., academy trusts are required by their funding agreements to submit financial returns to the Education and Skills Funding Agency (ESFA) and the DfE in accordance with their schedules and the Annual Accounts Return.

The ATB and Senior Staff structure is described in more detail on another page on this website.

The full ATB normally meets in person at least 4 times a year and additionally conducts some electronic meetings. It also normally meets through its committees, including its Finance and Monitoring Committee at least twice termly (normally), its Audit, Compliance and Risk Committee at least twice termly (normally), its Safeguarding /Health and Safety Committee at least twice termly (normally), its Pay and Performance Management Committee at least twice yearly (normally) and its other committees which only meet on an ad hoc basis, including the Admissions Panel. 

To support financial health and efficiency, the ATB and academy staff draw upon the School Resource Management resources available on GOV.UK

The key financial activities and milestones during the are set out here:  

AUTUMN: 1 SEPTEMBER TO 31 DECEMBER

WHAT HAPPENS IN SEPTEMBER?

  • The ESFA publishes key findings / common themes following assurance work relating to academy trust financial statements, academy funding audits and financial management and governance reviews for the year just ended. The full 'Academies consolidated annual report and accounts is normally published in the following July. The findings are discussed by the Chair and Accounting Officer, and between the Accounting Officer and the Chief Finance Officer and Academy Business Manager.
  • The new Academies Financial Handbook (AFH), normally published in June, is adopted by the academy, pending ratification by the ATB. It sets the outline framework for academy financial management and is adopted without any amendment or variation
  • The Local Financial Procedures and Guidance (LFPG) are reviewed (and if necessary updated) and adopted by the academy, pending ratification by the ATB. The LFPG, which is consistent with the broader AFH,  provides the practical detail and guidance of how finances are managed by the academy and may include procedures for any aspect which is not covered by the AFH

These two documents are complementary, and both come into force immediately on 1 September each year initially by the authority of the Chair (with any changes as recommended by the Accounting Officer / Chief Finance Officer / Academy Business Manager), pending ratification by the ATB, normally at the first meeting of the financial / academic year. 

  • The new budget is commenced (Finance Team), having normally been formally agreed by the ATB in the preceding summer term, normally July
  • *The budget and cash flow are monitored by the Chair at least monthly and the Finance Committee at least termly, and reported at least 6 times each year to the ATB, in person or electronically, endorsed in full ATB meetings
  • The annual capitalisation of fixed assets and depreciation is completed (Finance Team). These are reported to the next Finance and Monitoring Committee meeting, to the ATB via the minutes / at ATB meetings and through the annual accounts
  • Preparations for the completion of the November School Workforce Census (SWC) are undertaken (Data Manager/HR Team/Finance (Payroll) Team)
  • Preparations for the completion of the October Land and Buildings Tool are undertaken (SPP Manager/Finance Team)
  • Preparations for completion of the October Autumn Census are undertaken (Data Manager/SENDCo/Admissions Manager/Pastoral Teams/FSM/Attendance Officer/Catering Team/Clerk to the ATB)
  • Although a year round task, further preparations for the October External Audit are undertaken in September and October. This workstream is led by the Chief Finance Officer / School Business Manager. The relevant pages of the academy website may also be updated in September and October with some audit deliverables
  • **Preparations for the ESFA Self-Assessment Resource Tool are undertaken (Finance Team)
  • **Preparations for Annex G - School Direct (Finance Team/HR Team) are undertaken. Teaching School Status ends 31 August 2021 and there may be some legacy returns in 2021/22 (TBC)

WHAT HAPPENS IN OCTOBER?

  • ESFA publishes the 16-19 revenue funding allocation data for the current year
  • Second quarterly pupil premium payment for the current year is paid to academies
  • ESFA publishes guidance and workbook for the previous year's Annual Accounts Return (AAR). This supplements the Academies Accounts Direction (AAD) published the previous March.  
  • DfE publishes guidance on the Condition Improvement Fund (CIF) for the next year. Preparation for any significant and predictable CIF bids normally would need to have started up to a year earlier, using bid consultants
  • Final preparations for October External Audit are undertaken. This workstream is led by the Chief Finance Officer / School Business Manager. Any remaining sign off from the ATB or others is completed, electronically or in person. 
  • THE OCTOBER AUTUMN CENSUSThe academy census is completed termly and collects a range of data including pupil's personal data such as name, postcode, gender, age, special needs status, FSM status as well as educational history and attainment results. It also includes sensitive data such as absence, exclusions and their reasons, etc. The data is used by government for a variety of purposes including to determine future funding for the academy in accordance with the National Funding Formula (NFF)
  • The autumn census date (First Thursday in October each year) was Thursday 1 October 2020 and the completed census was submitted ON TIME to the ESFA in advance of the deadline of Wednesday 28 October 2020. The census was not delayed due to the Coronavirus Pandemic. The next autumn term census is on Thursday 7 October 2021 and will be submitted by Wednesday 3 November 2021. This workstream is led by the Data Manager supported by SENDCo, Admissions Manager, Pastoral Teams, FSM Manager, Attendance Officer, Catering Team and Clerk to the ATB. The census submission is approved by the Executive Head Teacher/Chair
  • THE OCTOBER LAND AND BUILDINGS COLLECTION TOOL (LBCT) for 2019/20 went live on Tuesday 15 December 2020 and was submitted ON TIME to the ESFA in advance of the deadline of Thursday 28 January 2021.  In 2020/21, these dates were later than normal due to the Coronavirus pandemic. The LBCT collects information about all of the land and buildings used by academy trust. It includes an estimate of the land and buildings valuation and is an annual snapshot of the trust’s land and assets at 31 August each year. The next LBCT will go live on Tuesday 5 October 2021 with a deadline for submission of Tuesday 9 November 2021. This workstream is led by the Sites, Premises and Projects Manager. The LBCT submission is approved by the Executive Head Teacher/Chair
  • THE OCTOBER EXTERNAL AUDIT: After the financial year end, the financial statements (FS) are externally audited (annually), normally in late October or early November and, once audited and approved by the ATB, must be submitted on or before 31 December.  This workstream is led by the Chief Finance Officer / Academy Business Manager. Responses to the audit findings report are drafted by the Accounting Officer, approved by the Chair and subsequently reported to the ATB and ESFA. External audit for 2019/20 was completed remotely in 2020/21 due to the Coronavirus pandemic. It is strongly hoped the external audit of 2020/21 will be on-site in 2021
  • Preparations for the November School Workforce Census continue (Data Manager/HR Team/Finance (Payroll) Team)
  • *The budget and cash flow are monitored by the Chair at least monthly and the Finance Committee at least termly, and at least 6 reported to the ATB each year electronically and endorsed in full ATB meetings
  • *Member and Trustee lists are updated on the website
  • In October, the ATB meets to consider, update, complete and endorse:
    • ESFA Schedule of Requirements (the 'musts')
    • Fraud Questionnaire
    • Risk Register
    • GDPR checklist
    • ATB Skills audit and financial competencies self-assessment
    • Governance Review and Financial Competency Matrix
    • Trustee attendance in the previous year
    • ATB Protocol
    • ECRB annual declaration and checks
    • Governor disqualification form
    • Register of Interests (Members, Trustees and Key Personnel)
    • Payroll Questionnaire
    • Governor Expenses (normally none)
    • Pensions Audit(s)
    • Internal Audit Reports (Responsible Officer) for the previous year
    • ATB Committees and Terms of Reference
    • Academies Financial Handbook 
    • Local Financial Procedures and Guidance
    • Scheme of Delegation
    • Self-Assessment Checklist and Dashboard
    • Whistleblowing Policy
    • Conflicts of Interests Policy
    • Election of Chair / Vice Chair (if applicable) and appointments to committees / roles
    • Arrangements for election of staff / parents (if applicable)
    • Draft Admissions Policy and Consultation Process / timetable for the year after next agreed (If required)
    • Review of other policies due for review / re-adoption

WHAT HAPPENS IN NOVEMBER?

  • PE/Sports Premium Conditions of grant and allocations for current year issued. First payment made to academies (if applicable)
  • First payment of the Teachers Pay Grant and Teachers Pension Grant paid to academies (if applicable)
  • Condition Improvement Fund (CIF) applicants must register online before the deadline (if submitting)
  • Accounts Return (AR) online form available from 4 November 2021 (Submission by 25 January 2022)
  • THE OCTOBER EXTERNAL AUDIT: After the financial year end, the financial statements (FS) are externally audited (annually), normally in late October or early NovemberThis workstream is led by the Chief Finance Officer / Academy Business Manager. Responses are drafted by the Accounting Officer, approved by the Chair and reported to the ATB and ESFA. External audit for 2019/20 was completely remote in 2020/21 due to the Coronavirus pandemic. The academy's experience of remote audit was disappointing in 2020 as it was less efficient, more costly and plagued by poor communication. It is strongly hoped the external audit of 2020/21 will be on-site in 2021
  • Some external Audit follow-up may extend beyond the audit days but all work, including the Audit Findings Report, Annual Report, Audited Financial Statements and Audited Accounts should completed in advance of the scheduled AGM
  • THE OCTOBER LAND AND BUILDINGS COLLECTION TOOL (LBCT) The LBCT collects information about all of the land and buildings used by academy trust. It includes an estimate of the land and buildings valuation and is an annual snapshot of the trust’s land and assets at 31 August each year. The next LBCT will go live on Tuesday 5 October 2021 with a deadline for submission of Tuesday 9 November 2021. This workstream is led by the Sites, Premises and Projects Manager
  • THE NOVEMBER SCHOOL WORKFORCE CENSUS (SWC) is a statutory data collection that takes place each autumn term. The most recent census day (the first Thursday in November) was Thursday 5 November 2020 and the census collects data on all teaching and support staff in regular employment. The submission was submitted ON TIME to the ESFA in advance of the Friday 4 December 2020 deadline.  The dates for the 2021 SWC are not yet published but expected to be similar to previous years which would mean Thursday 4 November 2021 with a submission deadline of Friday 3 December 2021 (To be confirmed). This workstream is led by the Data Manager, supported by HR and Payroll.  The census submission is approved by the Executive Head Teacher/Chair
  • Academy Trusts are independent charitable companies and are required to prepare the NOVEMBER ANNUAL REPORT AND FINANCIAL STATEMENTS for the financial year up to the 31 August each year. The annual report includes a Trustees Report, Gvernance Statement, a Statement on Regularity, Propriety and Compliance, a Statement of Trustee's Responsibilities, an Independent External Auditor's Report on the Financial Statements and the Independent Reporting Accountant's Report on Regularity. The Financial Statements inclide the Statement of Financial Activities (SOFA), the Balance Sheet, the Statement of Cash Flows and any Notes to the Financial Statements. 
  • THE NOVEMBER CONSULTATION ON THE ADMISSIONS POLICY for the year after next commences (If applicable)
  • *The budget and cash flow are monitored by the Chair at least monthly and the Finance Committee at least termly, and at least 6 reported to the ATB each year electronically and endorsed in full ATB meetings
  • Member and Trustee lists are updated on the website
  • The date, day, hour, and location of the Annual General Meeting (AGM) is published (at least 21 days prior to the meeting) with the agenda for the meeting, including minutes of the previous AGM, the Annual Report, Presentation of audited Financial Statements and Accounts, process for appointing auditors for the next financial year, amendments/updates to the constitution, membership and elections (if appropriate), resolutions ,etc.

WHAT HAPPENS IN DECEMBER?

  • DfE announces Schools Revenue Funding Settlement for next academic year
  • Deadline for CIF bids​ (If applicable)
  • Preparations for the School Resource Management Self-Assessment Tool (SRMSAT) are undertaken and agreed by the ATB in its December meeting, or electronically before the January deadline.  
  • THE ANNUAL GENERAL MEETING (AGM) is held each DECEMBER. There cannnot be a gap of greater than 15 months between two AGMs

The Annual Report was presented and agreed at the AGM held on 10 December 2020. Normally, the AUDIT FINDINGS REPORT (AFR) and the AUDITED FINANCIAL STATEMENTS  and AUDITED ACCOUNTS for the previous year are agreed at the AGM following presentation by auditors. In 2020/21, the AGM was adjourned and the Audit Findings Report and Financial Statements / Accounts were agreed by the ATB in January 2021 and submitted ON TIME to the ESFA before 31 January 2021 deadline (extended by one month due to the Coronavirus pandemic). This accounts and financial statements are led by auditors and the Chief Finance Office / ACademy Business Manager, an the initial drafts discussed with the Accounting Officer. The initial drafting of the Annual Report is led by te Associate Head Teacher and Clerk to the ATB, with the draft discussed with the Executive Head Teacher and Chair before circulation to the trustees for board approval.  The annual report, accounts and financial statements are formally agreed at the AGM. 

  • There is no extension in 2021/22. Academy trusts must submit by 31 December 2021, using the submission guidance: audited accounts, including the reporting accountant’s report on regularity, the audit findings report from the external auditors presented to those charged with governance – this should contain the: findings, including ratings of the importance/risk, e.g. high/medium/low, their views about significant qualitative aspects of the academy trust’s accounting practices, including accounting policies, accounting estimates and financial statement disclosures, significant difficulties, if any, encountered during the audit, significant matters, if any, arising from the audit that were discussed, or subject to correspondence with, management and the written representations the auditor is requesting, other matters, if any, arising from the audit that, in the auditor’s professional judgment, are significant to the oversight of the financial reporting process, an accounts submission cover (online form) and an annual internal scrutiny report

SPRING: 1 JANUARY TO 30 APRIL

WHAT HAPPENS IN JANUARY?

  • The third quarterly pupil premium payment for the current yeqr is received
  • The Spring Census: The school census is completed termly (see 'What happens in October' for more detail). The spring census date (Third Thursday in January) was Thursday 21 January 2021 and the completed census is on schedule to be submitted ON TIME to the ESFA in advance of the deadline of Wednesday 17 February 2021. The next spring term census is on Thursday 20 January 2022 and will be submitted by Wednesday 16 February 2022. This workstream is led by the Data Manager supported by SENDCo, Admissions Manager, Pastoral Teams, FSM Manager, Attendance Officer, Catering Team and Clerk to the ATB. The census submission is approved by the Executive Head Teacher/Chair
  • The academy trust board must complete the School Resource Management Self-Assessment Tool (SRMSAT) at least annually. It comprises a dashboard questionnaire and a checklist. The completed SRMSAT checklist was submitted ON TIME submitted to the ESFA by Thursday 15 April 2021.  The precise submission date for 2022 has not yet been published but is envisage to be Thursday 14 April 2022 (Third Thursday in April).
  • By 31 January, the academy must publish audited accounts/ financial statements, in full, on the trust’s website (publishing a link to the Companies House website is insufficient). Academy trusts should retain accounts in respect of at least the previous two years on their website.
  • Admissions Consultation closes and responses are summarised and sent to the ATB for agreement by 28 February.  

WHAT HAPPENS IN FEBRUARY?

  • Following consultation (if necessary), the ATB must determine the Admission Arrangements for the year after next by 28 February, and publish these on its website and send a copy to the LA by 15 March 
  • The ATB must publish their admission appeals timetable for the current year on the trust's website by 28 February
  • THe ESFA publishes exceptional post-16 in-year growth outcomes
  • The ESFA issues guidance in next year's funding allocations for academies
  • The ESFA issues the 16-19 allocation calculation toolkits (ACT) containing funding factors and student numbers.

WHAT HAPPENS IN MARCH?

 

WHAT HAPPENS IN APRIL?

 

  • The academy is normally expected to submit its annual Budget Forecast Return or Budget Forecast Return Outturn (BRF / BFRO) between April and May each year. In 2019, the BFRO went live on 9 April 2019 and the submission was made ON TIME in advance of the 21 May 2019 deadline. There was no discrete BRFO submission in 2020 due to Covid-19 adjustment.

SUMMER: 1 MAY TO 31 AUGUST

WHAT HAPPENS IN MAY?

  • The academy is normally expected to submit its annual Budget Forecast Return or Budget Forecast Return Outturn (BRF / BFRO) between April and May each year. In 2019, the BFRO went live on 9 April 2019 and the submission was made ON TIME in advance of the 21 May 2019 deadline. There was no discrete BRFO submission in 2020 due to Covid-19 adjustment.
  • The Summer Census: The school census is completed termly (see 'What happens in October?'). The summer census (Third Thursday in May) date is Thursday 20 May 2021 and the completed census is to be submitted ON TIME the ESFA in advance of the deadline of Wednesday 16 June 2021. The next summer term census is on Thursday 19 May 2022 and will be submitted by Wednesday 15 June 2022
  • By 31 May, File accounts with Companies House within nine months of the end of the accounting period (section 442 (2a) of the Companies Act 2006). • For most academy trusts this will be no later than 31 May 2022 • Companies House levy a penalty of at least £150 if they are filed late. Academy trusts should consider filing their accounts with Companies House immediately after publishing on their website.

WHAT HAPPENS IN JUNE?

 

  • The Summer Census: The school census is completed termly (see 'What happens in October?'). The summer census (Third Thursday in May) date is Thursday 20 May 2021 and the completed census is to be submitted ON TIME the ESFA in advance of the deadline of Wednesday 16 June 2021. The next summer term census is on Thursday 19 May 2022 and will be submitted by Wednesday 15 June 2022
  • The Academy Accounts Direction (AAD) is normally published in June each year and sets out the basis and timetable for preparing and submitting accounts for that financial year. 
  • The academy is also normally expected to submit its annual Three-Year Budget Forecast Return (BFR3Y) between June and July each year. Due to Covid-19, in 2021, there will only be a single BFR online form. The ESFA have combined the BFRO and BFR3Y into a single online form. This will go-live on 22 June 2021 with a deadline of 27 July 2021. These are the same timings as would have been for the BFR3Y alone.

WHAT HAPPENS IN JULY?

 

  • The academy is also normally expected to submit its annual Three-Year Budget Forecast Return (BFR3Y) between June and July each year. Due to Covid-19, in 2021, there will only be a single BFR online form. The ESFA have combined the BFRO and BFR3Y into a single online form. This will go-live on 22 June 2021 with a deadline of 27 July 2021. These are the same timings as would have been for the BFR3Y alone.
  • The detailed budget plan for the next year (and three year forecast) is normally considered and agreed at the July ATB meeting each year. 
  • partnership agreements / rpt
  • New Budget Planning: Budget Planning is an on-going task for both in-year, next year and three-year budget forecasting. The greatest activity for the next year's budget is between February and July each year. The new budget is normally approved by the ATB in July each year. 
  • ESFA Approval of Related Party Transactions over £20,000: 
  • The Chair of the ATB monitors budget with the agreed budget by comparison with cost centre summaries (from FMS) along with other relevant monitoring data such as the department spending envelope spreadsheet, the premises spending envelope spreadsheet and the trading subsidiary cost centre activity (from FMS). The Chair also monitors the academy's Cash Flow through the cash flow summary spreadsheet which can also be compared with bank records online (AO has online access). The Chair's budget and cash flow monitoring tasks are undertaken approximately fortnightly throughout the year in meetings (now electronic / remote) with the Accounting Officer,

WHAT HAPPENS IN AUGUST?

End of Year Closure

  • Budget and cash flow monitoring is also formally undertaken by the ATB at least 6 times each year in meetings. 
  • The new Academies Financial Handbook (AFH) is adopted
  • The Local Financial Procedures and Guidance (LFPG) is reviewed (and if necessary updated)

 

Internal Audit

External Audit

 

Staffing Plan

Pay Scales

Companies House Filing

GIAS

Leases 

Legal Agreements

Loans

RPT

Audit Follow-up

 

 

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