Guidance

Re-brokerage of academies

Updated 25 June 2026

Applies to England

You will need to complete specific lines as detailed in this guide if any academies have joined or left your trust since September 2025. This will make sure that the right forecast is included.

When an academy transfers between trusts, both the transferring trust and the receiving trust should record the transaction using equal and opposite entries. This ensures that the amounts recognised by each trust offset each other.

For any academy transfer, trusts should agree:

• the transfer date
• the value of any assets and reserves being transferred

Trusts must ensure that the amounts recorded by the transferring and receiving trusts are consistent. This will help ensure that the transfer is reflected accurately in both trusts’ budget forecast return (BFR).

New converters or newly created academies joining your trust

Between 1 September 2025 and 1 May 2026

Academies that joined your trust between 1 September 2025 and 1 May 2026 should appear on your list of schools included in your BFR.

Enter any balances that correspond to the date of them joining the trust (including actuals, current or forecasts) for the following lines.

Pupil numbers

For line 999 pupil numbers, you should adjust upwards to account for new pupils joining the trust.

Revenue surplus / deficit

For line 215 revenue surplus on conversion, you should enter:

• revenue surplus received or receivable on conversion from local authorities – for example, surpluses received from local authorities on conversion excluding pensions and fixed assets – see line 572
• this as a positive figure, increasing your income

For line 351 revenue deficit on conversion, you should enter:

• revenue deficit payable on conversion from local authorities – for example, deficits received from local authorities on conversion, excluding pensions and fixed assets
• this as a positive figure, increasing your expenditure

Capital income

For line 560 local authority capital income (cash), you should include:

• any local authority capital funding receivable – this should be cash payments only
• unspent grants (cash), including any capital balances on conversion – this is the cash reserves balances on conversion only

For line 571 other government grant capital income, you should include:

• any other government capital grants received
• transfers in on conversion of capital income from government capital grants

Capital assets

For line 572 capital assets transferred to academy on conversion, when a school converts from local authority maintained status to become an academy, your trust will need to record the value of the associated land and buildings as both an expense and a grant to reflect the fund accounting for this donation.

Your BFR must include the value of:

• capital income equal to the amount entered in line 575: Local authority donated assets – this is the value of the land and buildings (capital assets at net book value) transferred from the local authority when the school converted to academy status
• capital expenditure equal to the amount entered in line 606: Local authority donated assets expense

The amounts entered in lines 575 and 606 must offset each other. This ensures that the donation has a neutral effect on your trust’s capital position.

You should also include the amount entered in 575 in the disclosure note for line 572. This disclosure helps trusts check that they have included all necessary conversions, joiners and leavers from their trust.

Once you have completed the above lines, complete all BFR lines including actuals and forecasts for the relevant periods after the date of transfer​​.

Between 2 May 2026 and 31 August 2026

If an academy joined your trust between 2 May 2026 and 31 August 2026, they will not appear on your list of schools included in your BFR.

You should answer ‘No’ to the question “Is the above information correct?” and provide transfer dates in the comment box in the introduction section.

Pupil numbers

For line 999 pupil numbers , you should reflect:

• expected pupil numbers that have been officially confirmed to you, from point of transfer or joining
• forecasts for current and future years

For newly created academies, if you have not received confirmation of expected pupil numbers, enter a realistic estimate of the pupil numbers on which you are basing your DfE income.

For new converters, if you have not received confirmation of expected pupil numbers from the local authority, do not include the academy in your return.

Revenue surplus / deficit

For line 215 revenue surplus on conversion, you should enter:

• revenue surplus received or receivable on conversion from local authorities – for example, surpluses received from local authorities on conversion excluding pensions and fixed assets – see line 572
• this as a positive figure, increasing your income

For line 351 revenue deficit on conversion, you should enter:

• revenue deficit payable on conversion from local authorities – for example, deficits received from local authorities on conversion excluding pensions and fixed assets
• this as a positive figure, increasing your expenditure

Capital income

For line 560 local authority capital income (cash), you should include:

• any local authority capital funding receivable – this should be cash payments only
• unspent grants (cash), including any capital balances on conversion – this is the cash reserves balances on conversion only

For line 571 other government grant capital income, you should include:

• any other government capital grants received
• transfers in on conversion of capital income from government capital grants

Capital assets

For line 572 capital assets transferred to academy on conversion, when a school converts from local authority maintained status to become an academy, your trust will need to record the value of the associated land and buildings as both an expense and a grant to reflect the fund accounting for this donation.

Your BFR must include the value of:

• capital income equal to the amount entered in line 575: Local authority donated assets – this is the value of the land and buildings (capital assets at net book value) transferred from the local authority when the school converted to academy status

• capital expenditure equal to the amount entered in line 606: Local authority donated assets expense

The amounts entered in lines 575 and 606 must offset each other. This ensures that the donation has a neutral effect on your trust’s capital position.

You should also include the amount entered in 575 in the disclosure note for line 572. This disclosure helps trusts check that they have included all necessary conversions, joiners and leavers from their trust.

All other lines

For all other lines, complete all BFR lines including actuals and forecasts for the relevant periods after the date of transfer​​.

For new converters, if you have confirmation that a school will transfer from a local authority but have not yet received the closing balances for the pre-conversion period, you should still include the conversion in your BFR in line with your confirmed strategic plans.

At this stage, it is expected that you have sufficient information to make reasonable and reliable assumptions regarding pupil numbers, as well as income and expenditure forecasts.

Existing academies joining your trust

Between 1 September 2025 and 1 May 2026

Academies that joined your trust between 1 September 2025 and 1 May 2026 should appear on your list of schools included in your BFR.

Enter any balances that correspond to the date of them joining the trust (including actuals, current or forecasts) for the following lines.

Pupil numbers

For line 999 pupil numbers, you should adjust upwards to account for new pupils joining the trust.

For line 212 revenue surplus transfer of an existing academy into the trust, you should:

• include all revenue surplus received following the transfer of an existing academy into the trust, excluding pensions and fixed assets – see line 573
• enter this as a positive figure where there is a transfer of surplus into the trust, increasing your income

For line 350 revenue deficit transfer of an existing academy into the trust, you should:

• include all revenue deficit payable following the transfer of an existing academy, excluding pensions and fixed assets
• enter this as a positive figure where there is a transfer of deficit into the trust, increasing your expenditure

Capital income

For line 530 other DfE income – capital, you should include:

• the amount of any capital grants received from DfE that is not included in lines 510 or 520, such as CIF/SCA funding
• any RAAC funding received that relates to capital
• transfers of surplus capital income balances from an existing academy into your trust – record the surplus transfer in as a positive
• transfers of deficit capital income balances from an existing academy into your trust – record the deficit transfer in as a negative

Capital assets

For line 573 capital assets transferred of an existing academy into the trust, for any academies joining your trust, you must:

• enter the value of capital reserves balances transferred to your trust as a positive number in line 573
• use lines 212 and 350 in the revenue section of the form to record any revenue reserve balance transfers

For an existing academy moving between trusts, you must not enter any values in lines 575, 606, or 572. These lines are just for schools converting to become academies for the first time.

Complete all BFR lines after these, including actuals and forecasts for the relevant periods after the date of transfer​​.

Between 2 May 2026 and 31 August 2026

Academies joining your trust between 2 May 2026 and 31 August 2026 will not appear on your list of schools included in your BFR.

You should answer ‘No’ to the question “Is the above information correct?” and provide transfer dates in the comment box in the introduction section.

Pupil numbers

For line 999 pupil numbers, you should reflect expected pupil numbers that have been officially confirmed to you, from point of transfer and forecast for current and future years.

Revenue surplus / deficit

For line 212 revenue surplus transfer of an existing academy into the trust, you should:

• include all revenue surplus received following the transfer of an existing academy into the trust, excluding pensions and fixed assets – see line 573
• enter this as a positive figure where there is a transfer of surplus into the trust, increasing your income

For line 350 revenue deficit transfer of an existing academy into the trust, you should:

• include all revenue deficit payable following the transfer of an existing academy, excluding pensions and fixed assets
• enter this as a positive figure where there is a transfer of deficit into the trust, increasing your expenditure

Capital income

For line 530 other DfE income – capital, you should include:

• the amount of any capital grants received from DfE that is not included in lines 510 or 520, such as CIF/SCA funding
• any RAAC funding received that relates to capital
• transfers of surplus capital income balances from an existing academy into your trust – record the surplus transfer in as a positive
• transfers of deficit capital income balances from an existing academy into your trust – record the deficit transfer in as a negative

Capital assets

For line 573 capital assets transferred of an existing academy into the trust, for any academies joining your trust, you must:

• enter the value of capital reserves balances transferred to your trust as a positive number in line 573
• use lines 212 and 350 in the revenue section of the form to record any revenue reserve balance transfers

For an existing academy moving between trusts, you must not enter any values in lines 575, 606, or 572. These lines are just for schools converting to become academies for the first time.

All other lines

For all other lines, provide realistic forecasts for the current and future years from the point of transfer or joining based on your plans for the academy.

Include any narrative about any anticipated transfers or joiners to your trust, including timescales.

Existing academies leaving your trust

Between 1 September 2025 to 1 May 2026

Academies that left your trust between 1 September 2025 and 1 May 2026 will not appear on your list of schools included in your BFR.

Adjust any balances for the following lines that correspond to the dates they left the trust, including actuals, current or forecasts.

Pupil numbers

For line 999 pupil numbers, you should adjust downwards to account for pupils leaving the trust.

Revenue surplus / deficit

For line 212 revenue surplus transfer of an existing academy out of the trust, you should:

• adjust all revenue surplus transferable following the transfer of an existing academy out of your trust, excluding pensions and fixed assets
• enter this as a negative figure where there is a transfer of surplus out of the trust, decreasing your income

For line 350 revenue deficit transfer of an existing academy out of the trust, you should:

• adjust all revenue deficit payable following the transfer of an existing academy, excluding pensions and fixed assets
• enter this as a negative figure where there is a transfer of deficit out of the trust, decreasing your expenditure

Capital income

For line 530 other DfE income – capital, you should include:

• the amount of any capital grants received from DfE that is not included in lines 510 or 520, such as CIF/SCA funding
• any RAAC funding received that relates to capital

Any capital income transferred out of your trust should be reported as a negative transaction.

Capital assets

For line 639 capital assets transferred of an existing academy out of the trust, for any academies leaving your trust, you must:

• enter the value of capital reserves balances transferred from the trust as a negative number in line 639
• use lines 212 and 350 in the revenue section of the form to record any revenue reserve balance transfers

For an existing academy moving between trusts, you must not enter any values in lines 575, 606, or 572. These lines are just for schools converting to become academies for the first time.

You should now complete all BFR lines actuals and forecasts, excluding the leaving academy’s figures.

Between 2 May 2026 and 31 August 2026

If you have an academy leaving a trust during this period, it will appear on your list of schools included in your BFR.

You should answer ‘No’ to the question “Is the above information correct?” and provide transfer dates in the comment box in the introduction section.

Include any narrative about any anticipated transfers from your trust, including timescales. 

Adjust any balances for the following lines that correspond to the dates they left the trust, including actuals, current or forecasts.

Pupil numbers

For line 999 pupil numbers, you should adjust downwards to account for pupils leaving the trust.

Revenue surplus / deficit

For line 212 revenue surplus transfer of an existing academy out of the trust, you should:

• adjust all revenue surplus transferable following the transfer of an existing academy out of your trust, excluding pensions and fixed assets
• enter this as a negative figure where there is a transfer of surplus out of the trust, decreasing your income

For line 350 revenue deficit transfer of an existing academy out of the trust, you should:

• adjust all revenue deficit payable following the transfer of an existing academy, excluding pensions and fixed assets
• enter this as a negative figure where there is a transfer of deficit out of the trust, decreasing your expenditure

Capital income

For line 530 other DfE income – capital, you should include:

• the amount of any capital grants received from DfE that is not included in lines 510 or 520, such as CIF/SCA funding
• any RAAC funding received that relates to capital

Any capital income transferred out of your trust should be reported as a negative transaction.

Capital assets

For line 639 capital assets transferred of an existing academy out of the trust, for any academies leaving your trust, you must:

• enter the value of capital reserves balances transferred from the trust as a negative number in line 639
• use lines 212 and 350 in the revenue section of the form to record any revenue reserve balance transfers

For an existing academy moving between trusts, you must not enter any values in lines 575, 606, or 572. These lines are just for schools converting to become academies for the first time.

You should now complete all BFR lines actuals and forecasts, excluding the leaving academy’s figures.

Academies leaving resulting in trust closure

If your trust is transferring out all academies resulting in the trust now being empty, you will need to ensure your forecast from the point of transfer is zero.

The receiving trust should record the incoming balances from the joining academies at the agreed point of transfer. The balances and transfer date should be agreed between the trusts, to avoid duplication or omission of any figures.

Pupil numbers

For line 999 pupil numbers, you should adjust downwards to account for pupils leaving the trust.

Revenue surplus / deficit

For line 212 revenue surplus transfer of an existing academy out of the trust, you should:

• adjust all revenue surplus transferable following the transfer of an existing academy out of your trust, excluding pensions and fixed assets
• enter this as a negative figure where there is a transfer of surplus out of the trust, decreasing your income

For line 350 revenue deficit transfer of an existing academy out of the trust, you should:

• adjust all revenue deficit payable following the transfer of an existing academy, excluding pensions and fixed assets
• enter this as a negative figure where there is a transfer of deficit out of the trust, decreasing your expenditure

Capital income

For line 530 other DfE income – capital, you should include:

• the amount of any capital grants received from DfE that is not included in lines 510 or 520, such as CIF/SCA funding
• any RAAC funding received that relates to capital

Any capital income transferred out of your trust should be reported as a negative transaction.

Capital assets

For line 639 capital assets transferred of an existing academy out of the trust, for any academies leaving your trust, you must:

• enter the value of capital reserves balances transferred from the trust as a negative number in line 639
• use lines 212 and 350 in the revenue section of the form to record any revenue reserve balance transfers

For an existing academy moving between trusts, you must not enter any values in lines 575, 606, or 572. These lines are just for schools converting to become academies for the first time.

Reserves

If your trust still has a remaining balance showing in line 410, you will need to transfer this out using line 212 (revenue surplus transfer of an existing academy in or out of the trust) or line 350 (revenue deficit transfer of an existing academy in or out of the trust) to ensure your brought forward figure in line 410 from the point of transfer is zero.

Ensure the closed trust’s point of transfer matches the receiving trust’s point of transfer.

The closing trust should ensure remaining reserves are transferred out from the agreed point of transfer, recording a negative value in line 212 (revenue surplus transfer of an existing academy in or out of the trust) for a surplus balance, or a positive value in line 350 (revenue deficit transfer of an existing academy in or out of the trust) for a deficit balance.

The receiving trust should ensure any reserves transferred in from the agreed point of transfer are recorded as a positive value in line 212 (revenue surplus transfer of an existing academy in or out of the trust) for a surplus balance, or a negative value in line 350 (revenue deficit transfer of an existing academy in or out of the trust) for a deficit balance.

The closing trust’s balance in line 410 should be zero from the point of transfer. The receiving trust’s balance should reflect either an increase in revenue where a surplus is transferred, or a decrease in revenue where a deficit is transferred.

Academies joining or leaving the trust from 1 September 2026

If you have any known academies leaving or joining your trust from 1 September 2026, you must work with the other trust to agree the date at which the academy will be reported on each trust’s return. This is to avoid duplication or omission.

You should include any other planned transfers in your BFR, in line with your trust’s confirmed strategic plans. You should provide detail to support assumptions you are making regarding pupil numbers, income and expenditure forecast figures.